Document:

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                                                                    EXHIBIT 4.05

                      NONQUALIFIED STOCK OPTION AGREEMENT

        THIS NONQUALIFIED STOCK OPTION AGREEMENT, is made and entered into
effective as of ___________ (the "Effective Date"), by and between, EquipMD,
Inc., a corporation organized and existing under the laws of the State of
Georgia with its principal place of business in Atlanta, Georgia (the
"Corporation"), and __________ ("Optionee"), a resident of the State of
___________ (this "Agreement").

                                   WITNESSETH:

        WHEREAS, the Corporation desires to grant Optionee an option (the
"Option") to purchase _________ shares (the "Option Shares") of common stock,
par value $.001 per share (the "Common Stock") of the Corporation at a purchase
price of $______ per share (the "Exercise Price") pursuant to the terms set
forth in this Agreement;

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

        1. GRANT OF STOCK OPTION. The Corporation hereby ratifies and confirms
the grant to Optionee of the right, privilege and option to purchase the Option
Shares at the Exercise Price, in the manner and subject to the terms and
conditions contained herein. The grant of this Option shall be effective as of
the Effective Date. This Option is hereby designated as a "Nonqualified Stock
Option."

        2. OPTION TERM. This Option shall specifically terminate ten (10) years
from the Grant Date ("Option Term") and, subject to the vesting terms set forth
in this Agreement, shall remain exercisable for the full term notwithstanding
the employment status of Optionee.

        3. VESTING OF OPTION SHARES.

             3.1. The Option Shares shall vest as follows: (i) __% of the Option
Shares shall vest and become exercisable on the date that is ___________ months
from the Effective Date and (ii) ____th of the Option Shares shall vest and
become exercisable at the end of each month thereafter for _______________
months; provided that Optionee remains an employee of the Corporation as of each
such date.

             3.2. Any vested portion of the Option Shares not purchased on its
vesting date may be purchased thereafter; provided, however, that the Option
granted hereunder shall terminate upon the expiration of the Option Term.
Optionee shall have the right hereunder to purchase solely the Option Shares
which have become vested and exercisable under this Agreement and any portion of
the Option Shares which shall not have become vested and exercisable hereunder
shall terminate and be forfeited by Optionee upon termination of Optionee's
status as an employee of the Corporation.

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        4. MANNER OF EXERCISE OF OPTIONS.

             4.1. This Option may be exercised by the Optionee, or by the
Optionee's administrators or executors (collectively and together with Optionee,
the "Exercising Parties" and each an "Exercising Party") by a written notice (in
substantially the form of the Notice of Exercise attached hereto as Exhibit A)
signed by the appropriate Exercising Party and delivered or mailed to the
Corporation to the attention of the Secretary of the Corporation or such other
officer as the Corporation may designate.

             4.2. Any such notice shall:

                    (a) specify the number of shares of Stock which the
             appropriate Exercising Party then elects to purchase hereunder,

                    (b) contain such information as may be reasonably required
             by the Corporation, and

                    (c) be accompanied by a certified or cashier's check payable
             to the Corporation in an amount equal to the Exercise Price times
             the number of shares of Common Stock to be purchased (such amount,
             the "Aggregate Purchase Price").

             4.3. Upon receipt of any such notice and accompanying payment, and
subject to the terms hereof, the Corporation agrees to issue to the appropriate
Exercising Party stock certificates for the number of shares specified in such
notice registered in the name of the person exercising this Option. In addition
to any other applicable legends relating to any agreements to which Optionee is
a party or which govern Optionee's ownership or voting of Common Stock, the
certificate or certificates delivered to Optionee upon exercise of this option
shall contain a legend in substantially the following form:

             THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR
             INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
             1933, AS AMENDED (THE "ACT") OR UNDER ANY APPLICABLE STATE
             SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED,
             HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS AND UNTIL REGISTERED
             UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR UNLESS
             SUCH OFFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION, TRANSFER OR
             OTHER DISPOSITION IS EXEMPT FROM REGISTRATION OR IS OTHERWISE IN
             COMPLIANCE WITH THE ACT AND SUCH LAWS.

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        5. CHANGES IN CAPITAL STRUCTURE.

             5.1 If the capital stock of the Corporation is changed by reason of
a stock split, reverse stock split, stock dividend or recapitalization, or is
converted into or exchanged for other securities as a result of a merger,
consolidation, or reorganization, appropriate equitable adjustments shall be
made in (a) the number and class of shares of Common stock subject to this
Option, and (b) the Exercise Price of this Option; provided, however, that the
Corporation shall not be required to issue fractional shares as a result of any
such adjustment. Each such adjustment shall be determined by the Board of
Directors of the Corporation in good faith, which determination shall be final
and binding on all persons.

             5.2 If the Corporation shall enter into an agreement (i) to
consolidate with or merge into any person; (ii) to sell or otherwise transfer
all or substantially all of its assets to any person; or (iii) resulting in a
Change of Control of the Corporation the agreement governing such transaction
shall make proper provisions so that the Option shall, upon the consummation of
any such transaction and upon the terms and conditions set forth herein, be
converted into, or exchanged for, an option (the "Substitute Option"), at the
election of Grantee, of either (I) the Acquiring Corporation (as defined below)
or (II) any person that controls the Acquiring Corporation (any such person
being referred to as "Substitute Option Issuer"). As used herein, the term
"Change of Control" shall mean:

                    (a) the consummation of a reorganization, merger or
             consolidation or sale or other disposition of all or substantially
             all of the assets of the Corporation (a "Business Combination")
             unless, following such Business Combination:

                         (i) all or substantially all of the individuals and
                    entities who were the beneficial owners, respectively, of
                    the outstanding shares of Common Stock and the outstanding
                    voting securities of the Corporation immediately before such
                    Business Combination beneficially own, directly or
                    indirectly, more than 50% of the combined voting power of
                    the then outstanding voting securities entitled to vote
                    generally in the election of directors, as the case may be,
                    of the entity resulting from such Business Combination
                    (including, without limitation, an entity which as a result
                    of such transaction owns the Corporation or all or
                    substantially all of the Corporation's assets either
                    directly or through one or more subsidiaries) in
                    substantially the same proportions as their ownership
                    immediately before such Business Combination of the
                    outstanding shares of Common Stock and the outstanding
                    voting securities of the Corporation, as the case may be;

                         (ii) no party (excluding any entity resulting from such
                    Business Combination or any employee benefit plan (or
                    related trust) of the Corporation or such entity resulting
                    from such Business Combination) beneficially owns, directly
                    or indirectly, 20% or more of, respectively, the then
                    outstanding shares of common stock of the corporation
                    resulting from such Business Combination or the combined
                    voting power of the then

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                    outstanding voting securities of such entity except to the
                    extent that such ownership existed before the Business
                    Combination; and

                         (iii) at least a majority of the members of the board
                    of directors of the entity resulting from such Business
                    Combination were members of the Corporation's Board of
                    Directors at the time of the execution of the initial
                    agreement, or of the action of the Corporation's Board of
                    Directors, providing for such Business Combination; or

                    (b) The approval by the stockholders of the Corporation of a
             complete liquidation or dissolution of the Corporation

             5.3 The Substitute Option shall have the same terms as the Option;
provided, that the exercise price therefor and number of shares subject thereto
shall be as set forth in this Section 5; provided, further, that if the terms of
the Substitute Option cannot, for legal reasons, be the same as the Option
(subject to the variations described in the foregoing provisos), such terms
shall be as similar as possible and in no event less advantageous to Grantee.
The Substitute Option Issuer shall also enter into an agreement with Grantee in
substantially the same form as this Agreement (subject to the variations
described in the foregoing provisos), which shall be applicable to the
Substitute Option.

             5.4 The Substitute Option shall be exercisable for such number of
shares of Substitute Common Stock (as defined below) as is equal to the Assigned
Value (as defined below) multiplied by the number of Options Shares, divided by
the Average Price (as defined below), rounded up to the nearest whole share. The
exercise price per share of Substitute Common Stock of the Substitute Option
(the "Substitute Exercise Price") shall then be equal to the Exercise Price
multiplied by a fraction in which the numerator is the number of Option Shares
and the denominator is the number of shares of Substitute Common Stock for which
the Substitute Option is exercisable.

             5.5 The Corporation shall not enter into any transaction described
in Section 5.2 unless the Acquiring Corporation and any person that controls the
Acquiring Corporation assume in writing all the obligations of the Corporation
hereunder and take all other actions that may be necessary so that the
provisions of this Section 5 are given full force and effect (including, without
limitation, any action that may be necessary so that the holders of the other
shares of common stock issued by Substitute Option Issuer are not entitled to
exercise any rights by reason of the issuance or exercise of the Substitute
Option and the shares of Substitute Common Stock are otherwise in no way
distinguishable from or have lesser economic value than other shares of common
stock issued by the Substitute Option Issuer (other than any diminution in value
resulting from the fact that the shares of Substitute Common Stock are
restricted securities, as defined in Rule 144 under the Securities Act or any
successor provisions).

             5.6 For purposes hereof, the following terms have the following
meanings:

                    (a) "Acquiring Corporation" means (i) the continuing or
             surviving corporation of a consolidation or merger with the
             Corporation (if other than the Corporation), (ii) the Corporation
             in a merger in which the Corporation is the

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             continuing or surviving corporation and (iii) the transferee of all
             or substantially all of the Corporation's assets.

                    (b) "Assigned Value" means the higher of (y) the price per
             share to be paid by any third party or the consideration per share
             to be received by holders of Common Stock, in each case pursuant to
             the agreement with the Corporation with respect to the
             consolidation, merger or sale referred to in Section 5.2, and (z)
             if the transaction referred to in Section 5.2 is a sale of all or
             substantially all of the Corporation's assets, an amount equal to
             (i) the sum of the price paid in such sale for such assets and the
             current market value of the remaining assets of the Corporation, as
             determined by a nationally recognized investment banking firm
             selected by Grantee divided by (ii) the number of shares of Common
             Stock outstanding at such time. If an agreement is entered into for
             a merger or consolidation involving consideration other than cash,
             the value of the securities issuable or delivered in exchange for
             Common Stock ("Issued Securities") shall be equal to the Average
             Price for such security, provided however, that if no market exists
             for such securities or such securities are not quoted on the NASDAQ
             (as hereinafter defined) or if property other than securities are
             deliverable in exchange for Common Stock the value shall be
             determined by a nationally recognized investment banking firm
             selected by Grantee.

                    (c) "Average Price" means the average closing sales price
             per share of a share of Substitute Common Stock (or an Issued
             Security as the case may be) quoted on the NYSE (or if such
             Substitute Common Stock or an Issued Security as the case may be)
             is not quoted on the NYSE, the highest bid price per share as
             quoted on the National Association of Securities Dealers Automated
             Quotation System (the "NASDAQ") or, if the shares of Substitute
             Common Stock (or Issued Security as the case may be) are not quoted
             thereon, on the principal trading market on which such shares are
             traded as reported by a recognized source) for the one year
             immediately preceding the consolidation, merger or sale in
             question, but in no event higher than the closing price of the
             shares of Substitute Common Stock (or Issued Security as the case
             may be) on the day preceding such consolidation, merger or sale;
             provided that if the Substitute Option Issuer is the Corporation
             the Average Price shall be computed with respect to a share of
             common stock issued by the Corporation, the person merging into the
             Corporation or by any Corporation which controls such person, as
             Grantee may elect.

                    (d) "Substitute Common Stock" means the shares of capital
             stock (or similar equity with the greatest voting power in respect
             to the election of directors (or persons similarly responsible for
             the direction of the business and affairs) of the Substitute Option
             Issuer.

        6. AUTHORIZED SHARES. The Corporation agrees to take all necessary and
appropriate steps to ensure that there are at all times sufficient authorized
shares of capital stock available for issuance upon exercise of this Option.

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        7. TRANSFER OF OPTION. To the extent not prohibited by any statute, rule
or regulation applicable to this Option or the registration of the Option Shares
with the Securities and Exchange Commission, all or a portion of this Option is
transferable by Optionee, without consideration, to or for the benefit of
Immediate Family Members, including but not limited to a partnership or trust
with respect to which Immediate Family Members are the sole partners or
beneficiaries, respectively. The right to transfer this Option is personal to
Optionee and any transferee of this Option shall not have the right to transfer
this Option to any person other than by the laws of descent. As used herein the
phrase "Immediate Family Members" shall mean the Optionee's spouse, children,
grandchildren, parents and grandparents.

        8. MISCELLANEOUS

             8.1. This Agreement shall be interpreted and construed according to
and governed by the laws of the State of Georgia.

             8.2. This Agreement contains the entire agreement of the parties.
This Agreement may not be changed orally, but may be changed only by an
agreement in writing signed by the party against whom enforcement of any waiver,
change, modification or discharge is sought.

             8.3. The invalidity or unenforceability of any provision hereof
shall in no way affect the validity or enforceability of any other provision of
this Agreement.

             8.4. This Agreement shall bind all parties, their respective heirs,
executors, administrators and assigns. Except as provided in Section 7 hereof,
nothing contained herein shall be construed as an authorization or right of any
party to assign their respective rights or obligations hereunder and Optionee
shall have no right to assign this Option and any such attempted assignment
shall be ineffective. The Option, right and privilege herein granted to Optionee
to purchase Option Shares shall be binding upon the Corporation and its
successors or assigns.

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        IN WITNESS WHEREOF, the parties hereto have executed this Agreement
effective as of the Effective Date.

Attest:                               EquipMD, Inc.

By:                                   By:
   -------------------------------       -----------------------------------

Name:                                 Title:
     -----------------------------          --------------------------------

Title:
      ----------------------------

                                      Optionee

                                      ----------------------------------

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                                    Exhibit A
                                       to
                             Stock Option Agreement
                                     between
                                  EquipMD, Inc.
                                       and
                                     [Name]

                               NOTICE OF EXERCISE

                             Dated ________________

        The undersigned hereby notifies EquipMD, Inc. (the "Corporation") of
this election to exercise the undersigned's stock option to purchase
________________ shares of the Corporation's common stock, $.001 par value (the
"Common Stock"), pursuant to the Stock Option Agreement (the "Agreement")
between the undersigned and the Corporation dated ________________. Accompanying
this Notice is a certified or a cashier's check in the amount of
$________________ payable to the Corporation such amount being equal to the
Exercise Price multiplied by the number of Option Shares being purchased hereby.

        The undersigned is a resident of the State of __________.

        IN WITNESS WHEREOF, the undersigned has set his/her hand and seal, this
________ day of ________________, ______.

                                      OPTIONEE [OR OPTIONEE'S
                                      ADMINISTRATOR OR EXECUTOR]

                                      Name:
                                           ------------------------------------
                                      Position (if other than Optionee):

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                       NONQUALIFIED STOCK OPTION AGREEMENT

        THIS NONQUALIFIED STOCK OPTION AGREEMENT, is made and entered into
effective as of ____________ (the "Effective Date"), by and between, EquipMD,
Inc., a corporation organized and existing under the laws of the State of
Georgia with its principal place of business in Atlanta, Georgia (the
"Corporation"), and _________ ("Optionee"), a resident of the State of
_____________ (this "Agreement").

                                   WITNESSETH:

        WHEREAS, the Corporation desires to grant Optionee an option (the
"Option") to purchase _________ shares (the "Option Shares") of common stock,
par value $.001 per share (the "Common Stock") of the Corporation at a purchase
price of $____ per share (the "Exercise Price") pursuant to the terms set forth
in this Agreement;

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

        1. GRANT OF STOCK OPTION. The Corporation hereby ratifies and confirms
the grant to Optionee of the right, privilege and option to purchase the Option
Shares at the Exercise Price, in the manner and subject to the terms and
conditions contained herein. The grant of this Option shall be effective as of
the Effective Date. This Option is hereby designated as a "Nonqualified Stock
Option."

        2. OPTION TERM. This Option shall specifically terminate ten (10) years
from the Grant Date ("Option Term") and, subject to the vesting terms set forth
in this Agreement, shall remain exercisable for the full term notwithstanding
the employment status of Optionee.

        3. VESTING OF OPTION SHARES.

             3.1. Commencing on the last day of the first full calendar quarter
following the Effective Date and thereafter on the last day of each of the
succeeding seven calendar quarters, provided that (i) Optionee remains an
employee of the corporation as of each of such dates and during each of such
calendar quarters, ____% of the Option Shares shall vest and become exercisable
and (ii) the unvested portion of the Option Shares shall become immediately
vested and fully exercisable upon the date that Optionee is terminated by the
Corporation for any reason other than "For Cause" as such term is defined in the
employment agreement by and among Optionee and the Corporation dated
___________.

             3.2. Any vested portion of the Option Shares not purchased on its
vesting date may be purchased thereafter; provided, however, that the Option
granted hereunder shall terminate upon the expiration of the Option Term.
Optionee shall have the right hereunder to purchase solely the Option Shares
which have become vested and exercisable under this Agreement and any portion of
the Option Shares which shall not have become vested and exercisable hereunder
shall terminate and be forfeited by Optionee upon termination of Optionee's
status as an employee of the Corporation.

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        4. MANNER OF EXERCISE OF OPTIONS.

             4.1. This Option may be exercised by the Optionee, or by the
Optionee's administrators or executors (collectively and together with Optionee,
the "Exercising Parties" and each an "Exercising Party") by a written notice (in
substantially the form of the Notice of Exercise attached hereto as Exhibit A)
signed by the appropriate Exercising Party and delivered or mailed to the
Corporation to the attention of the Secretary of the Corporation or such other
officer as the Corporation may designate.

             4.2. Any such notice shall:

                    (a) specify the number of shares of Stock which the
             appropriate Exercising Party then elects to purchase hereunder,

                    (b) contain such information as may be reasonably required
             by the Corporation, and

                    (c) be accompanied by a certified or cashier's check payable
             to the Corporation in an amount equal to the Exercise Price times
             the number of shares of Common Stock to be purchased (such amount,
             the "Aggregate Purchase Price").

             4.3. Upon receipt of any such notice and accompanying payment, and
subject to the terms hereof, the Corporation agrees to issue to the appropriate
Exercising Party stock certificates for the number of shares specified in such
notice registered in the name of the person exercising this Option. In addition
to any other applicable legends relating to any agreements to which Optionee is
a party or which govern Optionee's ownership or voting of Common Stock, the
certificate or certificates delivered to Optionee upon exercise of this option
shall contain a legend in substantially the following form:

             THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR
             INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
             1933, AS AMENDED (THE "ACT") OR UNDER ANY APPLICABLE STATE
             SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED,
             HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS AND UNTIL REGISTERED
             UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR UNLESS
             SUCH OFFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION, TRANSFER OR
             OTHER DISPOSITION IS EXEMPT FROM REGISTRATION OR IS OTHERWISE IN
             COMPLIANCE WITH THE ACT AND SUCH LAWS.

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        5. CHANGES IN CAPITAL STRUCTURE.

             5.1 If the capital stock of the Corporation is changed by reason of
a stock split, reverse stock split, stock dividend or recapitalization, or is
converted into or exchanged for other securities as a result of a merger,
consolidation, or reorganization, appropriate equitable adjustments shall be
made in (a) the number and class of shares of Common stock subject to this
Option, and (b) the Exercise Price of this Option; provided, however, that the
Corporation shall not be required to issue fractional shares as a result of any
such adjustment. Each such adjustment shall be determined by the Board of
Directors of the Corporation in good faith, which determination shall be final
and binding on all persons.

             5.2 If the Corporation shall enter into an agreement (i) to
consolidate with or merge into any person; (ii) to sell or otherwise transfer
all or substantially all of its assets to any person; or (iii) resulting in a
Change of Control of the Corporation the agreement governing such transaction
shall make proper provisions so that the Option shall, upon the consummation of
any such transaction and upon the terms and conditions set forth herein, be
converted into, or exchanged for, an option (the "Substitute Option"), at the
election of Grantee, of either (I) the Acquiring Corporation (as defined below)
or (II) any person that controls the Acquiring Corporation (any such person
being referred to as "Substitute Option Issuer"). As used herein, the term
"Change of Control" shall mean:

                    (a) the consummation of a reorganization, merger or
             consolidation or sale or other disposition of all or substantially
             all of the assets of the Corporation (a "Business Combination")
             unless, following such Business Combination:

                         (i) all or substantially all of the individuals and
                    entities who were the beneficial owners, respectively, of
                    the outstanding shares of Common Stock and the outstanding
                    voting securities of the Corporation immediately before such
                    Business Combination beneficially own, directly or
                    indirectly, more than 50% of the combined voting power of
                    the then outstanding voting securities entitled to vote
                    generally in the election of directors, as the case may be,
                    of the entity resulting from such Business Combination
                    (including, without limitation, an entity which as a result
                    of such transaction owns the Corporation or all or
                    substantially all of the Corporation's assets either
                    directly or through one or more subsidiaries) in
                    substantially the same proportions as their ownership
                    immediately before such Business Combination of the
                    outstanding shares of Common Stock and the outstanding
                    voting securities of the Corporation, as the case may be;

                         (ii) no party (excluding any entity resulting from such
                    Business Combination or any employee benefit plan (or
                    related trust) of the Corporation or such entity resulting
                    from such Business Combination) beneficially owns, directly
                    or indirectly, 20% or more of, respectively, the then
                    outstanding shares of common stock of the corporation
                    resulting from such Business Combination or the combined
                    voting power of the then

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                    outstanding voting securities of such entity except to the
                    extent that such ownership existed before the Business
                    Combination; and

                         (iii) at least a majority of the members of the board
                    of directors of the entity resulting from such Business
                    Combination were members of the Corporation's Board of
                    Directors at the time of the execution of the initial
                    agreement, or of the action of the Corporation's Board of
                    Directors, providing for such Business Combination; or

                    (b) The approval by the stockholders of the Corporation of a
             complete liquidation or dissolution of the Corporation

             5.3 The Substitute Option shall have the same terms as the Option;
provided, that the exercise price therefor and number of shares subject thereto
shall be as set forth in this Section 5; provided, further, that if the terms of
the Substitute Option cannot, for legal reasons, be the same as the Option
(subject to the variations described in the foregoing provisos), such terms
shall be as similar as possible and in no event less advantageous to Grantee.
The Substitute Option Issuer shall also enter into an agreement with Grantee in
substantially the same form as this Agreement (subject to the variations
described in the foregoing provisos), which shall be applicable to the
Substitute Option.

             5.4 The Substitute Option shall be exercisable for such number of
shares of Substitute Common Stock (as defined below) as is equal to the Assigned
Value (as defined below) multiplied by the number of Options Shares, divided by
the Average Price (as defined below), rounded up to the nearest whole share. The
exercise price per share of Substitute Common Stock of the Substitute Option
(the "Substitute Exercise Price") shall then be equal to the Exercise Price
multiplied by a fraction in which the numerator is the number of Option Shares
and the denominator is the number of shares of Substitute Common Stock for which
the Substitute Option is exercisable.

             5.5 The Corporation shall not enter into any transaction described
in Section 5.2 unless the Acquiring Corporation and any person that controls the
Acquiring Corporation assume in writing all the obligations of the Corporation
hereunder and take all other actions that may be necessary so that the
provisions of this Section 5 are given full force and effect (including, without
limitation, any action that may be necessary so that the holders of the other
shares of common stock issued by Substitute Option Issuer are not entitled to
exercise any rights by reason of the issuance or exercise of the Substitute
Option and the shares of Substitute Common Stock are otherwise in no way
distinguishable from or have lesser economic value than other shares of common
stock issued by the Substitute Option Issuer (other than any diminution in value
resulting from the fact that the shares of Substitute Common Stock are
restricted securities, as defined in Rule 144 under the Securities Act or any
successor provisions).

             5.6 For purposes hereof, the following terms have the following
meanings:

                    (a) "Acquiring Corporation" means (i) the continuing or
             surviving corporation of a consolidation or merger with the
             Corporation (if other than the Corporation), (ii) the Corporation
             in a merger in which the Corporation is the

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<PAGE>   13

             continuing or surviving corporation and (iii) the transferee of all
             or substantially all of the Corporation's assets.

                    (b) "Assigned Value" means the higher of (y) the price per
             share to be paid by any third party or the consideration per share
             to be received by holders of Common Stock, in each case pursuant to
             the agreement with the Corporation with respect to the
             consolidation, merger or sale referred to in Section 5.2, and (z)
             if the transaction referred to in Section 5.2 is a sale of all or
             substantially all of the Corporation's assets, an amount equal to
             (i) the sum of the price paid in such sale for such assets and the
             current market value of the remaining assets of the Corporation, as
             determined by a nationally recognized investment banking firm
             selected by Grantee divided by (ii) the number of shares of Common
             Stock outstanding at such time. If an agreement is entered into for
             a merger or consolidation involving consideration other than cash,
             the value of the securities issuable or delivered in exchange for
             Common Stock ("Issued Securities") shall be equal to the Average
             Price for such security, provided however, that if no market exists
             for such securities or such securities are not quoted on the NASDAQ
             (as hereinafter defined) or if property other than securities are
             deliverable in exchange for Common Stock the value shall be
             determined by a nationally recognized investment banking firm
             selected by Grantee.

                    (c) "Average Price" means the average closing sales price
             per share of a share of Substitute Common Stock (or an Issued
             Security as the case may be) quoted on the NYSE (or if such
             Substitute Common Stock or an Issued Security as the case may be)
             is not quoted on the NYSE, the highest bid price per share as
             quoted on the National Association of Securities Dealers Automated
             Quotation System (the "NASDAQ") or, if the shares of Substitute
             Common Stock (or Issued Security as the case may be) are not quoted
             thereon, on the principal trading market on which such shares are
             traded as reported by a recognized source) for the one year
             immediately preceding the consolidation, merger or sale in
             question, but in no event higher than the closing price of the
             shares of Substitute Common Stock (or Issued Security as the case
             may be) on the day preceding such consolidation, merger or sale;
             provided that if the Substitute Option Issuer is the Corporation
             the Average Price shall be computed with respect to a share of
             common stock issued by the Corporation, the person merging into the
             Corporation or by any Corporation which controls such person, as
             Grantee may elect.

                    (d) "Substitute Common Stock" means the shares of capital
             stock (or similar equity with the greatest voting power in respect
             to the election of directors (or persons similarly responsible for
             the direction of the business and affairs) of the Substitute Option
             Issuer.

        6. AUTHORIZED SHARES. The Corporation agrees to take all necessary and
appropriate steps to ensure that there are at all times sufficient authorized
shares of capital stock available for issuance upon exercise of this Option.

                                       5
<PAGE>   14

        7. TRANSFER OF OPTION. To the extent not prohibited by any statute, rule
or regulation applicable to this Option or the registration of the Option Shares
with the Securities and Exchange Commission, all or a portion of this Option is
transferable by Optionee, without consideration, to or for the benefit of
Immediate Family Members, including but not limited to a partnership or trust
with respect to which Immediate Family Members are the sole partners or
beneficiaries, respectively. The right to transfer this Option is personal to
Optionee and any transferee of this Option shall not have the right to transfer
this Option to any person other than by the laws of descent. As used herein the
phrase "Immediate Family Members" shall mean the Optionee's spouse, children,
grandchildren, parents and grandparents.

        8. MISCELLANEOUS

             8.1. This Agreement shall be interpreted and construed according to
and governed by the laws of the State of Georgia.

             8.2. This Agreement contains the entire agreement of the parties.
This Agreement may not be changed orally, but may be changed only by an
agreement in writing signed by the party against whom enforcement of any waiver,
change, modification or discharge is sought.

             8.3. The invalidity or unenforceability of any provision hereof
shall in no way affect the validity or enforceability of any other provision of
this Agreement.

             8.4. This Agreement shall bind all parties, their respective heirs,
executors, administrators and assigns. Except as provided in Section 7 hereof,
nothing contained herein shall be construed as an authorization or right of any
party to assign their respective rights or obligations hereunder and Optionee
shall have no right to assign this Option and any such attempted assignment
shall be ineffective. The Option, right and privilege herein granted to Optionee
to purchase Option Shares shall be binding upon the Corporation and its
successors or assigns.

                                       6
<PAGE>   15

        IN WITNESS WHEREOF, the parties hereto have executed this Agreement
effective as of the Effective Date.

Attest:                               EquipMD, Inc.

By:                                   By:
   ------------------------------        -----------------------------------

Name:                                 Title:
     ----------------------------           --------------------------------

Title:
      ---------------------------

                                      Optionee

                                      ------------------------------------------

<PAGE>   16

                                    Exhibit A
                                       to
                             Stock Option Agreement
                                     between
                                  EquipMD, Inc.
                                       and
                                Allen M. Capsuto

                               NOTICE OF EXERCISE

                             Dated ________________

        The undersigned hereby notifies EquipMD, Inc. (the "Corporation") of
this election to exercise the undersigned's stock option to purchase
________________ shares of the Corporation's common stock, $.001 par value (the
"Common Stock"), pursuant to the Stock Option Agreement (the "Agreement")
between the undersigned and the Corporation dated ________________. Accompanying
this Notice is a certified or a cashier's check in the amount of
$________________ payable to the Corporation such amount being equal to the
Exercise Price multiplied by the number of Option Shares being purchased hereby.

        The undersigned is a resident of the State of __________.

        IN WITNESS WHEREOF, the undersigned has set his/her hand and seal, this
________ day of ________________, ______.

                                      OPTIONEE [OR OPTIONEE'S
                                      ADMINISTRATOR OR EXECUTOR]

                                      Name:
                                           -----------------------------------
                                      Position (if other than Optionee):[LOGO]

                                 USER AGREEMENT

This AGREEMENT is entered into as of JANUARY 10, 2000, by and between
TICKETS.COM, Inc., a Delaware Corporation and ANGEL CITI FILM AMD MUSIC MARKET
("User") at 1680 N. VINE STREET, SUITE 904, HOLLYWOOD, CALIFORNIA 90028
323-978-0032.

IN CONSIDERATION OF THE MUTUAL PREMISES AND COVENANTS SET FORTH HEREIN, THE
PARTIES AGREE AS FOLLOWS:

1.       LICENSE: User hereby licenses TICKETS.COM to act as its exclusive agent
         for the sale of User's tickets to all of User's events that are
         available for sale to the general public. Exclusive is herein defined
         to mean that TICKETS.COM will act as User's only off premises ticket
         agency, only telephone ticket agency, only telephone ticket sales
         operation for single tickets except those sold to season ticket
         customers, and only service offering, User's tickets for sale via any
         and all computer-based systems to any other remote technology as the
         same is set forth in definition of Ticket System. User retains the
         right to sell User's tickets at User's Box Office to customers
         appearing in person or ordering by mail. If user's Box Office is
         computerized by TICKETS.COM, all tickets "open" for sale to the general
         public will be "open" for sale through the Ticket System as well as the
         Box Office.

2.       TERM: The initial term of this Agreement shall be 2 YEARS commencing on
         the date hereof. The term of this Agreement shall be extended in
         accordance with the provisions of Section II of the Additional Terms
         and Conditions included herein.

3.       PRICES:

         a)       User shall establish the face price of all tickets sold
                  through the TICKETS.COM System.

         b)       TICKET.COM's Customer Convenience Fee shall be consistent with
                  convenience fees now charged to TICKETS.COM's customers or as
                  otherwise mutually agreed upon.

         c)       BASSCHARGE per order fee shall be consistent with BASSCHARGE
                  per order now charged to TICKETS.COM's customers.

4.       INSIDE CHARGES: TICKETS.COM shall be entitled to the following
         per-ticket inside charges from User, to be deducted from settlement:

         a)       Ticket Center Sales: $ per ticket sold at a Ticket Center 0.0%
                  OF THE GROSS TICKET PROCEEDS COLLECTED AT THE TICKET CENTER.

         b)       Telephone Sales: $ per ticket sold by telephone 2.7 % OF THE
                  GROSS TICKET PROCEEDS COLLECTED THROUGH BASSCHARGE. Note: This
                  amount or rate may be changed up or down upon 30-days written
                  notice if TICKETS.COM credit cards rates are changed.

         c)       Advance Ticket Printing: $0.10 per ticket printed by
                  TICKETS.COM in advance, $50.00 minimum per order. For all
                  ticket printing orders TICKETS.COM requires advance notice of
                  seven (7) business days. d) See VIII f.

5.       SET-UP PROCESSING FEE: $350.00 (ONE TIME INITIAL FEE) IS WAIVED.

6.       SETTLEMENT: TICKETS.COM shall collect the proceeds from sales of
         tickets, deposits such proceeds due to User less the amounts
         TICKETS.COM is entitled to retain pursuant to this Agreement. Such
         payment shall be made on Friday of each week for ticket sales to
         Performances occurring during Monday through Sunday of the week
         proceeding such payment date.

7.       ADVERTISING: In all print advertising or other promotional material
         which User creates, causes to be produced, controls or recommends
         relating to any Performance, User shall include the current and
         approved TICKETS.COM logo and wording. All broadcast copy should
         include the following wording: "Tickets available through
         WWW.TICKETS.COM OR, (888) 464-2468. Tickets are subject to a
         convenience fee." User is obligated to include phone number for
         appropriate market only. If user maintains a site on an on-line
         computer service, or any portion of the Internet, User agrees as
         follows: If its site provides information concerning sale of User's
         Tickets which are subject to this Agreement, User will arrange for a
         hyperlink to the appropriate TICKETS.COM on-line or internet site to
         accomplish all on-line ticket sale transactions or information.
         TICKETS.COM will furnish address as applicable and required. See also
         VI of the Additional Terms and Conditions.

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

<TABLE>
<CAPTION>

USER:    ANGEL CITI FILM FESTIVAL AND MUSIC MARKET            TICKETS.COM

<S>                                                          <C>
By: _____________________________________                     By: _____________________________________

Printed Name:     Larry Hartman                               Title: _____________________Date:___________

CEO               Date: ________________                       Representative: Susan Forbes

Federal ID # _________________________________

</TABLE>

WWW. TICKETS.COM 1855 Gateway Boulevard, Suite 630, Concord, CA 94520 main
925-671-4000 fax 925-671-4044 BASS Tickets Protix Fantastix Advantix SQL
Prologue PASS Art Soft TicketMaker Professional Access Control System 2100

<PAGE>

1.       Definitions: As used in this Agreement, the following terms shall have
         the respective meanings indicated below.

         a)       BASSCHARGE: The service TICKETS.COM has established which
                  enables the public to call a phone number, use on-line
                  services or other remote technology and charge the purchase of
                  User's tickets.

         b)       BOX OFFICE: The ticket locations at the facility that are
                  operated by User or by the facility management.

         c)       CUSTOMER CONVENIENCE FEE: The per-ticket amount charged to a
                  ticket purchaser for the convenience of using the TICKETS.COM
                  System and the charge per telephone order assessed for
                  BASSCHARGE telephone orders, which covers postage and
                  handling.

         d)       FACILITY: The building or venue at which a Performance
                  sponsored or promoted by a User is held.

         e)       INSIDE CHARGE: The amount charged by TICKETS.COM to User for
                  services rendered by TICKETS.COM under this Agreement.

         f)       PERFORMANCE: A sporting event or other entertainment feature
                  sponsored or promoted by User and with respect to which User
                  has authority to sell tickets to the public.

         g)       SET-UP FEE: The amount charged by TICKETS.COM for inauguration
                  of User into the TICKETS.COM System.

         h)       TICKET CENTER: A retail ticket selling agency licensed by
                  TICKETS.Com to sell tickets to a Performance as made available
                  through the TICKETS.COM System and are offered for sale to the
                  public.

         i)       TICKET SYSTEM: The ticket centers, box offices and BASSCHARGE
                  department established and operated by or contracted by
                  TICKETS.COM for the purpose of selling and / or printing
                  tickets; including but not limited by this reference to the
                  computer system and any other remote electronic technology
                  such as fax, on-line services, Internet, kiosks, interactive
                  TV or any other remote ticket selling and delivering equipment
                  or devices and methods used to sell, deliver or make tickets
                  available.

II.      TERM: The initial term of this Agreement is set forth in Paragraph 2 on
         the first page of this Agreement. This Agreement shall be automatically
         renewed for successive one (1) year terms following the initial term
         hereof, unless either party notifies the other party in writing, not
         less than ninety (90) nor more than one hundred-twenty (120) days prior
         to the end of the initial term or the current renewal term, of its
         intention not to renew this Agreement.

II.      SALES/PRICES:

         a)       User hereby authorizes TICKETS.COM to establish any policy
                  that TICKETS.COM Shall Determine in connection with the
                  acceptance of cash and credit cards for the payment of tickets
                  by consumers.

         b)       User hereby authorizes TICKETS.COM to collect the face price
                  of each ticket and the Customer Convenience Fee and The
                  BASSCHARGE per order fee as applicable from each ticket
                  purchaser. TICKETS.COM shall be entitled to retain the full
                  amount of the Customer Convenience Fee in partial
                  consideration for the services it performs hereunder and any
                  and all interest earned thereon.

         c)       TICKETS.COM may deduct the inside charges and Customer
                  Convenience Fees set forth under paragraph 4 of this Agreement
                  from the settlements paid to User.

         d)       The set-up fee shall be non-refundable and shall be due and
                  payable upon execution of this Agreement by User.

         e)       Upon User's request, TICKETS.COM may, but shall not be
                  obligated to, provide tickets to User at the Box Office at the
                  price set forth in Paragraph 4 ( c ) of this Agreement.

III.     REPRESENTATIONS AND WARRANTIES: User hereby represents and warrants to
         TICKETS.COM as follows:

         a)       This Agreement has been duly authorized, executed and
                  delivered by User and constitutes the valid, legal and binding
                  agreement of User, enforceable in accordance with its terms.

         b)       The entering into and performance of this Agreement will not
                  result in any breach of, or constitute a default under, any
                  other agreement to which User is a party, including, without
                  limitations thereby, any agreement for the sale or other
                  disposition of tickets for the performance.

         c)       There is no existing exclusive agreement or understanding
                  between User, and/or the facility's owners or operators and
                  any third party respecting the sale of tickets for any
                  Performance held at the facility that would invalidate this
                  Agreement.

         d)       User is an agent of each facility at which any of its
                  Performances are held and is duly authorized in such capacity
                  to execute and deliver this Agreement for ticketing services.

         e)       User warrants that the number of tickets put on sale does not
                  exceed legal, fire or other restrictions of the facility or
                  governmental agencies or laws.

         f)       User shall indemnify, hold harmless and deferred TICKETS.COM
                  from any and all claims, losses, damages, actions, causes of
                  action, liabilities, costs and expenses of any kind, including
                  attorney's fees, arising from any actual or claimed breach by
                  User of any and all of User's obligations under this Agreement
                  or under applicable law.

IV.      SETTLEMENT: Settlement payments shall be made by check payable only to
         User and delivered by mail to User. Delivery of said check shall
         constitute full performance by TICKETS.COM of its obligation to make
         such a settlement payment to User or to any person whatsoever.
         TICKETS.COM shall be entitled to retain for a period up to one hundred
         eighty (180) days an amount of not more than ten percent (10%) of
         proceeds from tickets priced at fifty dollars ($50.00) or over and sold
         by BASSCHARGE service. Such withheld funds will be used to offset any
         customer credit card "charge-backs" which occur during the withheld
         period. TICKETS.COM will remit the withheld amount plus interest at
         TICKETS.COM's earnings rate less any charge-backs at the end of the
         withheld period. TICKETS.COM will furnish User with all documentation
         concerning customer's "charge-backs" pertaining to User's events.

                                       2
<PAGE>

VI.      ADVERTISING: In the event that available advertising space does not
         permit the full inclusion of the wording appearing in the other
         provision of this Agreement, then a condensation thereof must be
         approved by TICKETS.COM. However, with the exception of collateral
         material, the failure to include TICKETS.COM in any advertising or
         promotion of a Performance shall be a material breach of this Agreement
         and cause for immediate termination by TICKETS.COM

VII.     TAXES: If any city, county, municipality, district, state or federal
         statute subsequently enacted imposes a sales, excise, use, or other tax
         or assessment or charge which is placed upon the admission, ticket, or
         right to occupy a seat at a performance, event, or game, it is
         understood and agreed that such tax will be imprinted on the ticket and
         be exclusive of the ticket price or convenience charge and shall be
         collected by TICKETS.COM as a portion of the price of admission.
         TICKETS.COM shall remit the same to the entity involved and make,
         execute, and complete any and all reports or returns required by any
         such law, ordinance, or regulation, and shall be have no further
         liability or obligation. Any other additional charges or costs shall be
         borne by User. In the event TICKETS.COM is to be held responsible for
         any such taxes or assessments, TICKETS.COM at its sole option may
         cancel and terminate this Agreement on ten (10) days written notice
         unless User shall, in writing, agree to reimburse TICKETS.COM for the
         amount of any such taxes.

VIII.    MISCELLANEOUS:

         a)       AMENDMENTS: This Agreement shall not be changed, modified or
                  amended in any respect without mutual consent of the parties
                  hereto, which consent shall be evidenced by a written
                  amendment to this Agreement executed by the parties hereto.

         c)       APPLICABLE LAW: This Agreement shall be governed by, and
                  construed I accordance with, the laws of the State of
                  California.

         d)       BINDING EFFECT: The terms, conditions, provisions and
                  undertakings contained in this Agreement shall be binding upon
                  and inure to the benefit of each of the parties and their
                  respective successors and assigns. User shall not assign this
                  Agreement without the prior written approval of TICKETS.COM.

         e)       CONFIDENTIAL: User and TICKETS.COM agree that the terms of
                  this Agreement shall be maintained by the parties on a
                  confidential basis and shall not be disclosed to any third
                  party without User or TICKETS.COM's prior written approval.

         f)       PERFORMANCE INFORMATION: Prior to any Performance or the sale
                  of any tickets to the same, User shall, in a timely manner,
                  furnish TICKETS.COM with any and all information that
                  TICKETS.COM may request in order for TICKETS.COM to program
                  the Performance into the TICKETS.COM System, including, but
                  not limited to, the names of the performers, the dates of the
                  performances and the face price of all tickets. TICKETS.COM
                  shall enter such information given into the TICKETS.COM System
                  within five (5) working days after receipt thereof and will
                  notify User when event information is ready to verify. User
                  accepts all responsibility for such information after such
                  verification.

         f)       INFORMATION CHANGE:

                  i)       If User elects to change the information contained on
                           its ticket header or changes pricing categories or
                           other event information and has been fully informed
                           by TICKETS.COM of the possible confusion or problems
                           that could result, User agrees that it will be solely
                           responsible and liable in the event of any misstated
                           information or claimed losses. User agrees to assume
                           all risks related thereto, including but not limited
                           by this designation to claimed losses of ticket
                           sales, losses of revenues or income, damages, or
                           claims of any kind or nature whatsoever.

                  ii)      If User requests a major change to the initial
                           information submitted by User and entered by
                           TICKETS.COM into the Ticket System, TICKETS.COM
                           reserves the right to assess an additional processing
                           charge. Such change and subsequent charge will not be
                           assessed by TICKETS.COM until TICKETS.COM has
                           notified User and User has agreed to accept the
                           charge.

                  iii)     If User requests a change of payee, TICKETS.COM
                           reserves the right to assess a twenty-five dollar
                           ($25.00) charge for each change, which shall be
                           withheld from settlement.

                  iv)      If User requests a change of address, TICKETS>COM
                           reserves the right to assess a ten dollar ($10.00)
                           charge for each change, which shall be withheld from
                           settlement.

         g)       LIMITATION OF LIABILITY: In the event of any breach of this
                  Agreement by TICKETS.COM, and because of the impracticability
                  and difficulty in being able to assess damages, the limitation
                  of any claim of loss by User shall be no greater than the
                  proven financial loss sustained by User by virtue of such
                  breach, and in no event greater than three hundred fifty
                  dollars ($350.00). In no event shall TICKETS.COM or User be
                  liable for incidental or consequential damages arising out of
                  this Agreement.

         h)       NO MINIMUM SALES: It is understood that TICKETS.Com does not
                  guarantee (I) that any minimum or fixed number of tickets will
                  be sold through the TICKETS.COM System, (ii) that short term
                  interruptions of service will not occur during the term hereof
                  or (iii) that each person processing ticket orders will be
                  fully familiar with each or all of the Performances.

         i)       NOTICES: Any notice required or permitted to be given by the
                  provisions hereof shall be conclusively deemed to have been
                  received by a party hereto on the day it is delivered to such
                  party at the address indicated under said party's signature on
                  the reverse side hereof (or at such other address as such
                  party shall specify to the other party I writing) or if, sent
                  by registered or certified mail, on third business day on
                  which it is mailed to such party at said address. Unless
                  specifically stated to the contrary herein, all notices
                  required under this Agreement must be in writing.

         j)       PROMOTION: It is understood that TICKETS.COM does not
                  guarantee to create or undertake any specific advertising or
                  promotions, nor does TICKETS.COM guarantee any specific
                  distribution or dissemination of User's materials or
                  promotional matters.

         k)       REFUNDS/EXCHANGES: User agrees to comply with TICKETS.COM's
                  reasonable business practices concerning the return,
                  refunding, and/or exchange of tickets.

         l)       User warrants that it conducts its operations in a
                  nondiscriminatory manner in compliance with applicable legal
                  requirements, including and without limitation the Americans
                  With Disabilities Act and California's Unruh Civil Rights Act
                  and Disabled Persons Act, Civil Code SS 51et seq. User agrees
                  to indemnify and hold TICKETS.COM free and harmless from any
                  loss, claim, cause of action or damage which may occur as a
                  result of any claim of breach of any such obligation, pursuant
                  to paragraph IV. (f.) of this Agreement.

                                       3

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