Document:

<PAGE>   1
                                                                     Exhibit 4.1

                                   KFORCE.COM
                            EXECUTIVE INVESTMENT PLAN

                           EFFECTIVE FEBRUARY 1, 2000

<PAGE>   2

                                   KFORCE.COM
                            EXECUTIVE INVESTMENT PLAN

I.       PURPOSE AND EFFECTIVE DATE

         1.1.     PURPOSE. The kforce.com Executive Investment Plan has been
                  established by Romac International, Inc. (predecessor to
                  kforce.com) to attract and retain key management employees by
                  providing a tax-deferred capital accumulation vehicle, thereby
                  encouraging savings for retirement.

         1.2.     EFFECTIVE DATE. The Plan shall be effective February 1, 2000
                  and shall remain in effect until terminated in accordance with
                  Article 10.

         1.3.     PRIOR PLAN. The Plan is intended to replace the 401(k) Mirror
                  Plan. As of the Effective Date, every account balance under
                  the 401(k) Mirror Plan, determined as of January 31, 2000,
                  shall be transferred to this Plan, and the 401(k) Mirror Plan
                  shall no longer separately exist.

II.      DEFINITIONS

         When used in the Plan and initially capitalized, the following words
         and phrases shall have the meanings indicated:

         2.1.     "Account" means the recordkeeping account established for each
                  Participant in the Plan for purposes of accounting for the
                  amount of Base Salary and Bonus deferred under Article 4,
                  transfers of restricted stock and exercised stock options, if
                  any, under Article 4, and Discretionary Credits, if any, to be
                  credited under Article 5, adjusted periodically to reflect
                  assumed investment return on such deferrals and credits in
                  accordance with Article 6.

         2.2.     "Administrator" means the Plan Administration Committee or
                  such other individual or committee appointed by the Board to
                  administer the Plan in accordance with Article 9.

         2.3.     "Affiliate" means (i) any corporation, partnership, joint
                  venture, trust, association or other business enterprise which
                  is a member of the same controlled group of corporations,
                  trades or businesses as the Company within the meaning of Code
                  Section 414, and (ii) any other entity that is designated as
                  an Affiliate by the Board.

         2.4.     "Base Salary" means a Participant's base salary or draw as
                  shown in the personnel records of the Company, and commissions
                  payable to a Participant who is a commissioned sales employee.

         2.5.     "Beneficiary" means the person or entity designated by the
                  Participant to receive the Participant's Plan benefits in the
                  event of the Participant's death. If the Participant does not
                  designate a Beneficiary, or if the Participant's designated
                  Beneficiary predeceases the Participant, the Participant's
                  estate shall be the Beneficiary under the Plan.

<PAGE>   3

         2.6.     "Board" means the Board of Directors of the Company.

         2.7.     "Bonus" means the annual bonus payable to a Participant as
                  incentive compensation as determined by the Company, and any
                  other bonus which the Administrator, in its sole discretion,
                  determines is eligible for deferral under the Plan.

         2.8.     "Change in Control" means the happening of any of the
                  following events:

                  (a)   any person, including a "group" as defined in Section
                        13(d)(3) of the Securities Exchange Act of 1934, as
                        amended, becomes the beneficial owner of forty percent
                        or more of the total number of shares entitled to vote
                        in the election of directors of the Board,

                  (b)   the Company is merged into any other company or
                        substantially all of its assets are acquired by any
                        other company, or

                  (c)   three or more directors nominated by the Board to serve
                        as a director, each having agreed to serve in such
                        capacity, fail to be elected in a contested election of
                        directors.

         2.9.     "Code" means the Internal Revenue Code of 1986, as amended.

         2.10.    "Company" means Romac International, Inc. (predecessor to
                  kforce.com) and any successor thereto.

         2.11.    "Company Stock Long Term Holding Account" means the assumed
                  investment alternative under which all Discretionary Credits
                  and transfers, if any, of restricted stock or exercised stock
                  options shall be deemed invested. Any amounts deemed invested
                  in the Company Stock Long Term Holding Account shall be valued
                  in the same manner as amounts deemed invested in Company
                  common stock, and cannot be diversified into other investment
                  options. Amounts deemed invested in the Company Stock Long
                  Term Holding Account shall be distributed solely in shares of
                  Company common stock.

         2.12.    "Deferral Election" means the election made by an Eligible
                  Employee to defer Base Salary and/or Bonus in accordance with
                  Article 4.

         2.13.    "Disability" shall have the same meaning as permanent
                  disability under the Company long-term disability plan. For
                  purposes of this Plan, a Participant who is eligible for
                  disability benefits under the Company long-term disability
                  plan shall be treated as having terminated employment with the
                  Company.

         2.14.    "Discretionary Credit" means an amount credited to a
                  Participant's Account, as determined by the Company in its
                  sole discretion.

         2.15.    "Election Period" means the period specified by the
                  Administrator during which a Deferral Election may be made
                  with respect to Base Salary or Bonus payable for a Plan Year.

                                       2
<PAGE>   4

         2.16.    "Eligible Employee" means, with respect to any Plan Year,
                  unless determined otherwise by the Board, the following
                  classes of employees:

                  (a)   Core employees of the Company whose projected Base
                        Salary for the Plan Year is at least $85,000;

                  (b)   Billable hourly employees of the Company whose projected
                        annual compensation (including Base Salary and Bonus)
                        for the immediately preceding Plan Year is at least
                        $85,000;

                  (c)   Commissioned sales employees of the Company whose
                        projected annual compensation (including Base Salary and
                        Bonus) for the immediately preceding Plan Year is at
                        least $85,000.

         2.17.    "401(k) Mirror Plan" means the Romac International, Inc.
                  Deferred Compensation Plan.

         2.18.    "Normal Retirement Age" means for any Plan Participant, the
                  later of the day following third anniversary of the date of
                  the Participant's initial Plan Participation, or the date on
                  which the Participant attains age 55. Any Participant who has
                  attained Normal Retirement Age and continues to meet the
                  eligibility requirements under the Plan may continue to defer
                  Base Salary and Bonus under this Plan.

         2.19.    "Participant" means an Eligible Employee who has elected to
                  defer Base Salary and/or Bonus under the Plan or who has been
                  credited with a Discretionary Credit.

         2.20.    "Plan" means the kforce.com Executive Investment Plan, as
                  amended from time to time.

         2.21.    "Plan Year" means the calendar year; provided, however, that
                  the first Plan Year shall commence on February 1, 2000 and end
                  on December 31, 2000.

         2.22.    "Retirement" means termination of employment with the Company
                  or its Affiliates on or after the Participant's Normal
                  Retirement Age.

         2.23.    "Valuation Date" means a date on which a Participant's Account
                  is valued, which shall be the last business day of each
                  calendar month, and such other dates as may be specified by
                  the Administrator.

III.     PARTICIPATION

         3.1.     ELIGIBLE EMPLOYEES. An Eligible Employee shall become a
                  Participant in the Plan by filing a Deferral Election with the
                  Administrator in accordance with Article 4. An Eligible
                  Employee who is not otherwise a Participant in the Plan shall
                  become a Participant in the Plan on the date he or she is
                  credited with a Discretionary Credit.

                                       3
<PAGE>   5

         3.2.     401(k) MIRROR PLAN PARTICIPANTS. Any individual with an
                  account balance under the 401(k) Mirror Plan as of January 31,
                  2000 shall become a Participant in this Plan automatically
                  effective February 1, 2000. Such Participant's account balance
                  under the 401(k) Mirror Plan, determined as of January 31,
                  2000, shall be transferred to the Plan as of February 1, 2000.
                  Accounts transferred under this Section 3.2 shall vest in
                  accordance with the terms of this Plan; provided that each
                  Participant's vested percentage in his or her 401(k) Mirror
                  Plan account transferred to this Plan shall never be less than
                  his or her vested percentage in such account under the terms
                  of the 401(k) Mirror Plan. An individual who becomes a
                  Participant under this Section 3.2 must submit an assumed
                  investment allocation election under Section 6.2 regardless of
                  whether he or she elects to defer any compensation under the
                  Plan.

         3.3.     ERISA APPLICATION. If the Administrator determines that
                  participation by one or more Participants shall cause the Plan
                  to be subject to Part 2, 3 or 4 of Title I of the Employee
                  Retirement Income Security Act of 1974, as amended, the entire
                  interest of such Participant or Participants under the Plan
                  shall be paid immediately to such Participant or Participants
                  or shall otherwise be segregated from the Plan in the
                  discretion of the Administrator, and such Participant or
                  Participants shall cease to have any interest under the Plan.

IV.      DEFERRAL OF COMPENSATION, TRANSFERS OF STOCK OPTIONS AND RESTRICTED
         STOCK

         4.1.     DEFERRAL OF BASE SALARY. An Eligible Employee may elect to
                  defer up to 100% of his or her Base Salary for a Plan Year by
                  filing a Deferral Election in accordance with Section 4.3. To
                  the extent provided by the Administrator, commissioned sales
                  employees may make separate Deferral Elections with respect to
                  draw and commissions.

         4.2.     DEFERRAL OF BONUS. An Eligible Employee may elect to defer up
                  to 100% of his or her Bonus for a Plan Year by filing a
                  Deferral Election in accordance with Section 4.3.

         4.3.     DEFERRAL ELECTIONS. A Participant's Deferral Election shall be
                  in writing, and shall be filed with the Administrator at such
                  time and in such manner as the Administrator shall provide,
                  subject to the following:

                  (a)   A Deferral Election shall be made during the Election
                        Period established by the Administrator, which shall end
                        no later than the last day of the Plan Year preceding
                        the Plan Year in which Base Salary would otherwise be
                        payable and, in the case of Bonus, to which such Bonus
                        relates. With respect solely to the first Plan year of
                        the Plan, commencing February 1, 2000, the Election
                        Period shall end no later than January 31, 2000.

                  (b)   Deferral Elections may be expressed as a percentage of
                        Base Salary or Bonus, within the limits provided under
                        the Plan.

                                       4
<PAGE>   6

                  (c)   The minimum annual deferral under the Plan shall be
                        $2,500 and any Deferral Election that would provide a
                        lesser deferral for a Plan Year shall be disregarded for
                        such Plan Year.

                  (d)   Notwithstanding the foregoing provisions of this Section
                        4.3, the Administrator, in its sole discretion, may
                        provide that a core employee who becomes an Eligible
                        Employee after the first day of a Plan Year may make a
                        Deferral Election within 30 days of first becoming an
                        Eligible Employee, which Deferral Election shall relate
                        to Base Salary and Bonus earned for periods after the
                        date such election is made.

                  Once made, a Deferral Election shall remain in effect for
                  subsequent Plan Years unless changed or revoked by the
                  Participant in accordance with rules established by the
                  Administrator. Any such modification or revocation shall be
                  effective for the Plan Year following the Plan Year in which
                  it is made; provided that such revocation shall become
                  effective as soon as practicable in the event it is made
                  because of the Participant's Disability or if the
                  Administrator, in its sole discretion, determines that the
                  Participant has suffered a severe financial hardship or a bona
                  fide administrative mistake was made. If a Deferral Election
                  is revoked in accordance with the preceding sentence, the
                  Participant may not make a new Deferral Election until the
                  election period established by the Administrator for making
                  deferrals for the next Plan Year.

         4.4.     CREDITING OF DEFERRAL ELECTIONS. The amount of Base Salary and
                  Bonus that a Participant elects to defer under the Plan shall
                  be credited by the Company to the Participant's Account as of
                  the first day of the month in which the Base Salary or Bonus
                  would have been payable absent the Deferral Election.

         4.5.     TRANSFERS OF RESTRICTED STOCK AND EXERCISED STOCK OPTIONS. The
                  Administrator, in its sole discretion, may permit a
                  Participant to transfer to the Plan certain restricted stock
                  and exercised stock options, provided the plans under which
                  the restricted stock or stock options were granted anticipate
                  and provide for the deferral of receipt of unrestricted stock
                  under such plans through such a transfer. Prior to any
                  transfer, the Participant must provide evidence satisfactory
                  to the Administrator that all criteria under the applicable
                  restricted stock plan or stock option plan for the deferral of
                  receipt of unrestricted stock that would otherwise occur under
                  such plan have been satisfied. Upon any transfer under this
                  Section 4.5, the Participant's interest in the transferred
                  restricted stock or exercised stock option shall be
                  represented solely by units of Company common stock and shall
                  be held in the Company Stock Long Term Holding Account.
                  Distribution of the units of Company common stock representing
                  any transfer under this Section 4.5 shall occur in accordance
                  with Article 7.

V.       EMPLOYER CREDITS

         5.1.     DISCRETIONARY CREDITS. The Administrator may award a
                  Participant a Discretionary Credit in an amount determined by
                  the Administrator in its sole discretion. Discretionary
                  Credits shall be awarded in units of Company common stock. Any
                  such Discretionary Credit shall be credited to the
                  Participant's Account at the time determined by the

                                       5
<PAGE>   7

                  Administrator and shall be subject to such terms and
                  conditions as the Administrator may establish.

         5.2.     VESTING AND FORFEITURES. A Participant's Discretionary Credits
                  for any Plan Year shall become fully vested and nonforfeitable
                  on the date following the date the Participant completes three
                  years of continuous employment, commencing on the date such
                  discretionary Credits are awarded to the Participant. Subject
                  to Section 5.3, any portion of a Participant's Account that is
                  not vested upon the Participant's termination of employment
                  with the Company and its Affiliates shall be permanently
                  forfeited. Forfeited amounts shall be reallocated to all
                  remaining Plan Participants as of the Valuation Date
                  coincident with or next following the date of the forfeiture
                  in the same ratio that each Participant's Account balance, as
                  of such Valuation Date, bears to the total value of all
                  Account balances under the Plan, as of such Valuation Date.

         5.3.     ACCELERATION OF VESTING. Notwithstanding the provisions of
                  Section 5.2, a Participant's Discretionary Credits, if any,
                  shall become fully vested upon the following events:

                  (a)   the Participant's Retirement;

                  (b)   the Participant's Disability;

                  (c)   the Participant's death;

                  (d)   a Change in Control; or

                  (e)   termination of the Plan under Article 10.

VI.      PLAN ACCOUNTS

         6.1.     VALUATION OF ACCOUNTS. The Administrator shall establish an
                  Account for each Participant who has filed a Deferral Election
                  to defer Base Salary and/or Bonus or who has been awarded a
                  Discretionary Credit. As of each Valuation Date, the
                  Participant's Account shall be adjusted upward or downward to
                  reflect the following:

                  (a)   each Participant's deferrals and Discretionary Credits
                        as set forth in Sections 4.4 and 5.2, respectively, made
                        during the valuation period to which such Valuation Date
                        applies, to be credited as of the beginning of the first
                        day of the valuation period;

                  (b)   the investment return to be credited or debited, as
                        applicable, as of such Valuation Date pursuant to
                        Section 6.2;

                  (c)   the amount of distributions under Article 7 or Article
                        8, if any, paid during the valuation period to which
                        such Valuation Date applies, to be credited as of the
                        beginning of the first day of the valuation period;

                                       6
<PAGE>   8

                  (d)  the amount of forfeitures under Sections 5.2 or 7.4, if
                       any, occurring during the valuation period to which such
                       Valuation Date applies, to be credited as of the
                       beginning of the first day of the valuation period.

         6.2.     CREDITING OF INVESTMENT RETURN. As of each Valuation Date, a
                  Participant's Account balance shall be adjusted upward or
                  downward for increases and decreases in the fair market value
                  of the investments in which it is deemed invested, in
                  accordance with Section 6.3, during the period since the
                  immediately preceding Valuation Date. Such adjustment shall
                  reflect the Participant's pro rata share of fund investment
                  fees and maintenance fees, if any, for any funding vehicle
                  under any trust described in Section 11.3. The value of deemed
                  investments in Company common stock shall be determined based
                  on the closing NASDAQ price for a share of Company common
                  stock on each Valuation Date. A Participant's deemed
                  investment in Company common stock shall be adjusted to
                  reflect stock splits, combinations or subdivisions of shares,
                  recapitalization or other stock-related events that affect the
                  number of shares of Company common stock. Any such
                  stock-related event shall be reflected in the Participant's
                  Account as of the beginning of the first day of the month in
                  which it occurs. In addition, dividends paid on Company common
                  stock, if any, shall be deemed paid on amounts held under the
                  Company common stock assumed investment alternative as of the
                  beginning of the first day of the month in which such
                  dividends are paid. Such deemed dividends shall be treated as
                  if they were invested in additional Company common stock.

         6.3.     ASSUMED INVESTMENT ALTERNATIVES. The Administrator shall
                  designate the assumed investment alternatives that will be
                  available from time to time under the Plan for purposes of
                  measuring a Participant's investment return under Section 6.2.
                  Such assumed investment alternatives shall include an assumed
                  investment in Company common stock. Subject to such rules and
                  limitations as the Administrator may determine, each
                  Participant shall designate in his or her initial Deferral
                  Election one or more assumed investments established by the
                  Administrator under this Section 6.3 in which the amounts
                  credited to his or her Account shall be deemed invested. On or
                  before the first day of each month, a Participant may make a
                  new election with respect to the assumed investments in which
                  his Account shall be deemed invested in the future. Any such
                  election shall be made in the form and at the time specified
                  by the Administrator; and shall become effective as of the
                  first day of the month following the month in which it is
                  received. Notwithstanding any of the foregoing, Discretionary
                  Credits and transfers, if any, of restricted stock or
                  exercised stock options always shall be deemed to be invested
                  in the Company Stock Long Term Holding Account. In the event a
                  Participant fails to make a designation among the assumed
                  investment alternatives, the entire value of his or her
                  Account, other than Discretionary Credits and transfers, if
                  any, of restricted stock or exercised stock options, shall be
                  deemed to be invested in the money market fund assumed
                  investment alternative.

         6.4.     INVESTMENT ALTERNATIVES AFTER DEATH. For periods after the
                  Valuation Date coincident with or following a Participant's
                  death, the Participant's Account balance, other than amounts
                  deemed invested in the Company Stock Long Term Holding
                  Account, shall be treated as if it were invested in a fixed
                  interest rate account at prevailing short-term interest rates,

                                       7
<PAGE>   9

                  as determined by the Administrator. Beneficiaries shall not be
                  permitted to make elections with respect to assumed investment
                  alternatives under the Plan.

         6.5.     QUARTERLY STATEMENT OF ACCOUNT. As soon as practicable after
                  the close of each calendar quarter, the Administrator shall
                  prepare and deliver to each Participant a statement of such
                  Participant's Account balance as of the Valuation Date
                  occurring on the last day of such calendar quarter. In the
                  event of a Participant's Retirement, Disability, death or
                  termination of employment, a statement of account shall be
                  prepared for such Participant as of the Valuation Date
                  coincident with or next following such event.

VII.     PAYMENT OF BENEFITS

         7.1.     IN-SERVICE DISTRIBUTION AT A SPECIFIC FUTURE DATE. A
                  Participant may elect to receive scheduled in-service
                  distributions from the Plan under one or both of the following
                  methods:

                  (a)   At the time a Participant initially elects to
                        participate in the Plan, the Participant may elect one
                        or more future Valuation Dates on which all or a portion
                        of his or her vested Account as of such date shall be
                        paid. Any such future date shall be a Valuation Date in
                        a specific future year which is at least two Plan Years
                        after the Plan Year for which the initial Deferral
                        Election is made; provided, however, only one
                        distribution per Plan Year may be elected under this
                        Section 7.1(a); provided, further that, if the
                        Participant elects a distribution at one or more
                        specific future dates and has a termination of
                        employment prior to any such date, distribution shall
                        commence pursuant to Sections 7.2, 7.3, 8.1 or 8.2, as
                        applicable. A distribution election under this Section
                        7.1 may be extended once to a Valuation Date in a future
                        Plan Year, or revoked by filing an extension or
                        revocation election with the Administrator at least 12
                        months prior to the first day of the Plan Year in which
                        the distribution under this Section 7.1(a) is scheduled
                        to take place.

                  (b)   During the Election Period for any Plan Year, the
                        Participant may elect a future Valuation Date on which
                        amounts deferred under the Participant's Deferral
                        Election for that Plan Year, and any Discretionary
                        Credits awarded in that Plan Year which have vested,
                        adjusted for investment experienced gains or losses,
                        shall be paid. Any such future date shall be a Valuation
                        Date in a specific future year which commences one year,
                        two years or three years following the first day of the
                        Plan Year for which such Deferral Election applies. If
                        the Participant elects a distribution at a specific
                        future date under this Section 7.1(b) and has a
                        termination of employment prior to such date,
                        distribution shall commence pursuant to Sections 7.2,
                        7.3, 8.1 or 8.2, as applicable.

         7.2.     DISTRIBUTION UPON RETIREMENT OR DISABILITY. If a Participant
                  terminates employment with the Company and Affiliates by
                  reason of Retirement or Disability, distribution of the
                  Participant's Account shall be made or commence as soon as

                                       8
<PAGE>   10

                  administratively practicable after such termination.
                  Distribution under this Section 7.2 shall be made (i) in a
                  lump-sum payment or (ii) in annual installments for 5, 10 or
                  15 years, as elected by the Participant. A Participant may
                  change the time and form of his or her distribution election
                  under this Section 7.2 by filing a new election with the
                  Administrator; provided, however, that any election that has
                  not been on file with the Administrator at least 12 months
                  prior to the first day of the Plan Year in which the
                  Participant's termination of employment occurs shall be void
                  and disregarded. Notwithstanding the foregoing, a Participant
                  whose termination of employment occurs by reason of Disability
                  may request that the Administrator distribute the
                  Participant's Account in a lump-sum payment following such
                  termination of employment, in which case the Administrator, in
                  its sole discretion, shall determine whether to make payment
                  in a lump sum. If the Participant does not have a valid
                  election on file with the Administrator at the time of
                  Retirement or Disability, the Participant's Account shall be
                  paid in a lump sum.

         7.3.     DISTRIBUTION ON OTHER TERMINATION OF EMPLOYMENT. If a
                  Participant's employment with the Company or Affiliates
                  terminates for any reason other than Retirement, Disability or
                  death, distribution of the Participant's vested Account shall
                  be made or commence as soon as administratively practicable
                  after such termination. Distribution of the Participant's
                  vested Account under this Section 7.3 shall be made (i) in a
                  lump-sum payment or (ii) in annual installments of up to 5
                  years, as elected by the Participant. A Participant may change
                  the time and form of his or her distribution election under
                  this Section 7.3 by filing a new election with the
                  Administrator; provided, however, that any election that has
                  not been on file with the Administrator at least 12 months
                  prior to the first day of the Plan Year in which the
                  Participant's termination of employment occurs shall be void
                  and disregarded. If the Participant does not have a valid
                  election on file with the Administrator at the time of
                  termination of employment, the Participant's vested Account
                  shall be paid in a lump sum.

         7.4.     UNSCHEDULED WITHDRAWAL. Prior to the date otherwise scheduled
                  for payment under the Plan, a Participant may request a
                  withdrawal of all or a portion of his or her vested Account,
                  by filing with the Administrator at any time an election
                  specifying the amount of the vested Account to be withdrawn.
                  Payment of such amount, adjusted by the amount forfeited in
                  subsection (a) below, shall be made as of the first Valuation
                  Date administratively practicable after such request is
                  received, and shall be subject to the following:

                  (a)   An amount equal to 10% of the withdrawal requested shall
                        be debited to the Participant's vested Account and
                        permanently forfeited.

                  (b)   Any request submitted under this Section 7.4 after the
                        Participant has terminated employment must be for his or
                        her entire Account balance, which shall be paid in a
                        lump sum.

                  (c)   Any Deferral Election in effect at the time of such
                        withdrawal shall be void after such withdrawal.

                                       9
<PAGE>   11

                  (d)   The Participant shall not be eligible to file a new
                        Deferral Election until the Election Period for the Plan
                        Year commencing at least one year after such withdrawal.

         7.5.     UNFORESEEABLE EMERGENCY. Prior to the date otherwise scheduled
                  for payment under the Plan, upon showing an unforeseeable
                  emergency, a Participant, or Beneficiary in the event of the
                  Participant's death, may request that the Administrator
                  accelerate payment of all or a portion of his or her vested
                  Account in an amount not exceeding the amount necessary to
                  meet the unforeseeable emergency. For purposes of the Plan, an
                  unforeseeable emergency means an unanticipated emergency that
                  is caused by an event beyond the control of the Participant
                  and that would result in severe financial hardship to the
                  Participant if early withdrawal were not permitted. The
                  Administrator, in its sole discretion, shall make the
                  determination of an unforeseeable emergency, based on such
                  information as the Administrator shall deem to be necessary.
                  Any accelerated payment made under this Section 7.5 shall not
                  be subject to the withdrawal provisions of Section 7.4.

         7.6.     TIME AND FORM OF ELECTIONS. All distribution and withdrawal
                  elections under this Article 7 shall be made at the time and
                  in the form established by the Administrator and shall be
                  subject to such other rules and limitations that the
                  Administrator, in its sole discretion, may establish.

         7.7.     FORM OF PAYMENT. All distributions and withdrawals, other than
                  those made from the Company Stock Long Term Holding Account,
                  shall be made in cash. Distributions from the Company Stock
                  Long Term Holding Account shall be made in shares of Company
                  common stock.

VIII.    DEATH BENEFITS

         8.1.     DEATH PRIOR TO TERMINATION OF EMPLOYMENT. Subject to Section
                  8.3, if a Participant dies prior to his or her termination of
                  employment, the Participant's Beneficiary shall receive a
                  survivor benefit in an amount equal to the sum of:

                  (a)   the Participant's Account balance as of the Valuation
                        Date coincident with or next preceding the Participant's
                        date of death, PLUS

                  (b)   the Participant's total Base Salary and Bonus deferrals
                        under the Plan, multiplied by two.

                  Such survivor benefit shall be paid in a single lump sum as
                  soon as practicable following the Participant's death.

         8.2.     DEATH AFTER TERMINATION OF EMPLOYMENT. Subject to Section 8.3,
                  if a Participant terminates employment for any reason, and
                  dies prior to the time his or her Account balance has been
                  fully distributed, the Participant's Beneficiary shall receive
                  the remaining portion of the Participant's Account at the
                  regularly-scheduled date of payment for any remaining payments
                  of the Participant's Account.

                                       10
<PAGE>   12

         8.3.     OTHER CONDITIONS. Notwithstanding the foregoing provisions of
                  this Article 8, if the Participant's death occurs within two
                  years of initial Plan participation, and such death occurs by
                  reason of suicide (as reported on the Participant's death
                  certificate or determined by the Administrator in good faith),
                  the Participant's Beneficiary shall receive solely the
                  Participant's Account balance as of the Valuation Date
                  coincident with or next following the date of his or her death
                  in full satisfaction of the Company's obligations under the
                  Plan.

         8.4.     ADMINISTRATOR DISCRETION REGARDING FORM. Notwithstanding the
                  foregoing provisions of this Article 8, a Beneficiary may
                  request that the Administrator approve an alternate form of
                  payment of survivor benefits under this Article 8, which
                  request may be granted in the sole discretion of the
                  Administrator.

IX.      ADMINISTRATION

         9.1.     AUTHORITY OF ADMINISTRATOR. The Administrator shall have full
                  power and authority to carry out the terms of the Plan. The
                  Administrator's interpretation, construction and
                  administration of the Plan, including any adjustment of the
                  amount or recipient of the payments to be made, shall be
                  binding and conclusive on all persons for all purposes.
                  Neither the Company, including its officers, employees or
                  directors, nor the Administrator or the Board or any member
                  thereof, shall be liable to any person for any action taken or
                  omitted in connection with the interpretation, construction
                  and administration of the Plan.

         9.2.     PARTICIPANT'S DUTY TO FURNISH INFORMATION. Each Participant
                  shall furnish to the Administrator such information as it may
                  from time to time request for the purpose of the proper
                  administration of this Plan. In the event a Participant fails
                  to provide such information, all obligation of the
                  Administrator, the Company and any of its Affiliates to such
                  Participant shall be deemed satisfied, until such information
                  is provided.

         9.3.     CLAIMS PROCEDURE. If a Participant or Beneficiary ("Claimant")
                  is denied all or a portion of an expected benefit under this
                  Plan for any reason, he or she may file a claim with the
                  Administrator. The Administrator shall notify the Claimant
                  within 90 days of allowance or denial of the claim, unless the
                  Claimant receives written notice from the Administrator prior
                  to the end of the 90-day period stating that special
                  circumstances require an extension (of up to 90 additional
                  days) of the time for decision. The notice of the decision
                  shall be in writing, sent by mail to Claimant's last known
                  address, and if a denial of the claim, shall contain the
                  following information: (a) the specific reasons for the
                  denial; (b) specific reference to pertinent provisions of the
                  Plan on which the denial is based; and (c) if applicable, a
                  description of any additional information or material
                  necessary to perfect the claim, an explanation of why such
                  information or material is necessary, and an explanation of
                  the claims review procedure. A Claimant is entitled to request
                  a review of any denial of his or her claim by the Board. The
                  request for review must be submitted within 60 days of mailing
                  of notice of the denial. Absent a request for review within
                  the 60-day period, the claim shall be deemed to be
                  conclusively denied. The Claimant or his or her
                  representatives shall be entitled to review all pertinent
                  documents, and to submit issues and comments orally and in

                                       11
<PAGE>   13

                  writing. The Board shall render a review decision in writing
                  within 60 days after receipt of a request for a review;
                  provided that, in special circumstances the Board may extend
                  the time for decision by not more than 60 days upon written
                  notice to the Claimant. The Claimant shall receive written
                  notice of the Board's review decision, together with specific
                  reasons for the decision and reference to the pertinent
                  provisions of the Plan.

X.       AMENDMENT AND TERMINATION

         The Board may amend or terminate the Plan at any time; provided,
         however, that no such amendment or termination shall have a material
         adverse effect on any Participant's rights under the Plan accrued as of
         the date of such amendment or termination. Upon termination of the
         Plan, the Board shall cause a lump-sum payment of all benefits for all
         Participants at substantially the same time.

XI.      MISCELLANEOUS

         11.1.    NO IMPLIED RIGHTS; RIGHTS ON TERMINATION OF SERVICE. Neither
                  the establishment of the Plan nor any amendment thereof shall
                  be construed as giving any Participant, Beneficiary or any
                  other person any legal or equitable right unless such right
                  shall be specifically provided for in the Plan or conferred by
                  specific action of the Board or the Administrator in
                  accordance with the terms and provisions of the Plan. Except
                  as expressly provided in this Plan, neither the Company nor
                  any of its Affiliates shall be required or be liable to make
                  any payment under the Plan.

         11.2.    NO EMPLOYMENT RIGHTS. Nothing herein shall constitute a
                  contract of employment or of continuing service or in any
                  manner obligate the Company or any Affiliate to continue the
                  services of any Participant, or obligate any Participant to
                  continue in the service of the Company or Affiliates, or as a
                  limitation of the right of the Company or Affiliates to
                  discharge any of their employees, with or without cause.

         11.3.    UNFUNDED PLAN. No funds shall be segregated or earmarked for
                  any current or former Participant, Beneficiary or other person
                  under the Plan. However, the Company may establish one or more
                  trusts to assist in meeting its obligations under the Plan,
                  the assets of which shall be subject to the claims of the
                  Company's general creditors. No current or former Participant,
                  Beneficiary or other person, individually or as a member of a
                  group, shall have any right, title or interest in any account,
                  fund, grantor trust, or any asset that may be acquired by the
                  Company in respect of its obligations under the Plan (other
                  than as a general creditor of the Company with an unsecured
                  claim against its general assets). The Company may also choose
                  to use life insurance to assist it in meeting its obligations
                  under the Plan. As a condition of participation in the Plan,
                  each Participant agrees to execute any documents that may be
                  required in connection with obtaining such insurance and to
                  cooperate with any life insurance underwriting requirements;
                  provided, however, that a Participant shall not be required to
                  undergo a medical examination in connection therewith.

                                       12
<PAGE>   14

         11.4.    NONTRANSFERABILITY. Prior to payment thereof, no benefit under
                  the Plan shall be assignable or subject to any manner of
                  alienation, sale, transfer, claims of creditors, pledge,
                  attachment or encumbrances of any kind, except pursuant to a
                  domestic relations order awarding benefits to an "alternate
                  payee" (within the meaning of Code Section 414(p)(8)) that the
                  Administrator determines satisfies the criteria set forth in
                  paragraphs (1), (2) and (3) of Code Section 414(p) (a "DRO").
                  Notwithstanding any provision of the Plan to the contrary, the
                  Plan benefits awarded to an alternate payee under a DRO shall
                  be paid in a single lump sum to the alternate payee as soon as
                  administratively practicable following the date the
                  Administrator determines the order is a DRO.

         11.5.    WITHHOLDING. To the extent required by applicable law, the
                  Company shall withhold any taxes required to be withheld on
                  any deferrals under the Plan by any Federal, state or local
                  government. To the extent possible, such withholding shall be
                  taken from the Participant's compensation remaining after any
                  deferral under this Plan for any pay period. In the event the
                  Participant's remaining compensation is insufficient to
                  satisfy the withholding requirements, the Administrator
                  reserves the right to reduce the Participant's Deferral
                  Election, as necessary, to satisfy the withholding
                  requirements. Alternatively, the Administrator, in its sole
                  discretion, may accept payment from the Participant in an
                  amount satisfying the withholding requirement.

         11.6.    SUCCESSORS AND ASSIGNS. The rights, privileges, benefits and
                  obligations under the Plan are intended to be, and shall be
                  treated as legal obligations of and binding upon the Company,
                  its successors and assigns, including successors by merger,
                  consolidation, reorganization or otherwise.

         11.7.    APPLICABLE LAW. This Plan is established under and will be
                  construed according to the laws of the State of Florida, to
                  the extent not preempted by the laws of the United States.

                                      * * *

         IN WITNESS WHEREOF, the undersigned has caused this Plan to be executed
this 4th day of January, 2000.

                                       ROMAC INTERNATIONAL, INC.

                                       By______________________________________

                                       13EMPLOYMENT AGREEMENT

     THIS  AGREEMENT  is dated as of January 1, 2000,  by and between  Franchise
Finance  Corporation  of America,  a Delaware  corporation  (the  "Company") and
Morton H. Fleischer ("Executive").

                                    RECITALS

     In order to induce  Executive  to serve as  Chairman  and  Chief  Executive
Officer  of  the  Company,   the  Company  desires  to  provide  Executive  with
compensation  and other  benefits on the terms and  conditions set forth in this
Agreement.

     Executive is willing to accept such employment and perform services for the
Company, on the terms and conditions hereinafter set forth.

     It is therefore hereby agreed by and between the parties as follows:

     1. DEFINED  TERMS.  The following  terms shall have the following  meanings
unless otherwise specifically defined in this Agreement:

     "ACTUAL  BONUS"  means the highest  annual cash bonus  payable to Executive
with respect to any of the three years  immediately  preceding  the  Termination
Year.

     "AGREEMENT"  means this  Employment  Agreement  dated as of January 1, 2000
between the Company and Executive.

     "ANNUAL  CASH BONUS"  means the cash  compensation  payable to Executive as
calculated and paid in a manner substantially  similar to the methods and timing
used to calculate and pay  Executive's  bonus for calendar year 1999;  PROVIDED,
HOWEVER,  that  during the term of this  Agreement,  neither the Company nor the
Compensation  Committee  shall  change such methods and timing in a manner which
will be less favorable to Executive.

     "BASE  SALARY"  means the annual base salary of  Executive  as set forth in
Section 4(a).

     "BOARD" means the board of directors of the Company.

     "CAUSE" means:

               (a) the willful and  continued  failure of Executive to perform a
          substantial  portion of his duties  with the  Company  (other than any
          such  failure  resulting  from  incapacity  due to  physical or mental
          illness),  after a  written  demand  for  substantial  performance  is
          delivered to Executive by the Board, which specifically identifies the
          manner  in  which  the  Board   believes   that   Executive   has  not
          substantially performed his duties;

               (b)  the  willful  engaging  by  Executive  in  gross  misconduct
          (including, without limitation, fraud or embezzlement); or
<PAGE>
               (c) the conviction of, or plea of guilty or NOLO CONTENDERE to, a
          felony.

     "CHANGE IN CONTROL" means:

               (a) any "Person" as defined in Section  3(a)(9) of the Securities
          and Exchange Act of 1934, as amended (the "Exchange Act"), and as used
          in Section 13(d) and 14(d) thereof,  including a "group" as defined in
          Section  13(d) of the Exchange Act but  excluding  the Company and any
          subsidiary  and any employee  benefit plan  sponsored or maintained by
          the  Company or any  subsidiary  (including  any  trustee of such plan
          acting as trustee),  directly or indirectly,  becomes the  "beneficial
          owner"  (as  defined  in  Rule  13d-3  under  the  Exchange  Act),  of
          securities  of the Company  representing  25% or more of the  combined
          voting power of the Company's then outstanding  securities (other than
          indirectly as a result of the Company's redemption of its securities);
          PROVIDED, HOWEVER, that, in the event that any such person becomes the
          beneficial  owner  of 25% or  more,  but  not  exceeding  50%,  of the
          combined voting power of the Company's then outstanding securities, no
          Change of  Control  shall be deemed to occur so long as the  Incumbent
          Directors (as defined below)  continue to constitute a majority of the
          Board in accordance with the terms of paragraph (c) below; or

               (b) the consummation of any merger or other business  combination
          of the  Company,  sale of all or  substantially  all of the  Company's
          assets  (other  than with  respect to sales of assets in the  ordinary
          course of business,  securitization  and whole loan sales  provided by
          the   Company's   interim  and  permanent   financing   arrangements),
          liquidation  or  dissolution  of the  Company  or  combination  of the
          foregoing  transactions (the "Transactions")  other than a Transaction
          immediately  following  which the  shareholders of the Company and any
          trustee or fiduciary of any Company  employee benefit plan immediately
          prior  to the  Transaction  own at  least  51%  of the  voting  power,
          directly or indirectly,  of (A) the surviving  corporation in any such
          merger  or  other  business  combination;  (B)  the  purchaser  of  or
          successor to the Company's assets (other than with respect to sales of
          assets in the ordinary  course of business,  securitization  and whole
          loan sales provided by the Company's  interim and permanent  financing
          arrangements); (C) both the surviving corporation and the purchaser in
          the  event  of any  combination  of  Transactions;  or (D) the  parent
          company owning 100% of such surviving  corporation,  purchaser or both
          the surviving corporation and the purchaser, as the case may be; or

               (c) within any  twenty-four-month  period,  the  persons who were
          directors  immediately  before  the  beginning  of  such  period  (the

                                       2
<PAGE>
          "Incumbent  Directors")  shall cease (for any reason other than death)
          to  constitute  at  least a  majority  of the  Board  or the  board of
          directors  of a  successor  to the  Company.  For  this  purpose,  any
          director who was not a director at the  beginning of such period shall
          be deemed to be an Incumbent  Director if such director was elected to
          the Board by, or on the  recommendation of or with the approval of, at
          least  two-thirds  of the  directors  who then  qualified as Incumbent
          Directors  (so long as such director was not nominated by a person who
          commenced  or  threatened  to commence  an  election  contest or proxy
          solicitation  by or on behalf of a Person other than the Board) or who
          has  entered  into an  agreement  to  effect a Change  in  Control  or
          expressed an intention to cause such Change in Control.

     "CODE"  means  the  Internal  Revenue  Code of 1986,  as  amended,  and the
provisions of any successor law.

     "COMPANY"  means  Franchise  Finance  Corporation  of  America,  a Delaware
corporation.

     "COMPENSATION COMMITTEE" means the compensation committee of the Board.

     "EFFECTIVE DATE" means January 1, 2000.

     "EXECUTIVE" means Morton H. Fleischer.

     "EXPENSE  PAYMENT"  means payments made to Executive for expenses which are
permitted under this Agreement and have been incurred but not yet reimbursed.

     "GOOD REASON" means any of the following without  Executive's express prior
written consent:

               (a) any  material  diminution  or adverse  change in  Executive's
          duties,  titles or responsibilities with the Company (or any affiliate
          thereof) from those in effect immediately prior to any such diminution
          or adverse  change;  PROVIDED,  HOWEVER,  that no such  diminution  or
          adverse change shall be deemed to exist solely as a consequence of the
          Company  ceasing to be a Company with  publicly-traded  securities  or
          becoming a wholly-owned subsidiary of another company;

               (b) if after a  Change  in  Control  there  is any  reduction  in
          Executive's  aggregate annual cash  compensation  (which shall include
          Base Salary and Actual  Bonus) in  Executive's  aggregate  annual cash
          compensation in effect immediately prior to such reduction;

               (c) any  requirement  that  Executive be based at a location more
          than 35 miles from the Company's headquarters,  located in Scottsdale,
          Arizona  (or a  substantial  increase  in the  amount of  travel  that
          Executive is required to do because of a relocation  of the  Company's
          headquarters from Scottsdale, Arizona);

                                       3
<PAGE>
               (d) any failure by the Company to obtain  from any  successor  to
          the Company an  agreement  reasonably  satisfactory  to  Executive  to
          assume and  perform  this  Agreement,  as  contemplated  by Section 13
          hereof; or

               (e) during the thirty-day period immediately  following the first
          anniversary  of the  Change  in  Control  there is a  Thirteenth-Month
          Termination by Executive.

     "PERMANENT   DISABILITY"  means  the  total  and  permanent  disability  of
Executive  as  defined  in  the  Company's  long-term  disability  benefit  plan
applicable to senior executive officers in effect on the Effective Date.

     "RETIREMENT" means Executive's voluntary termination of employment pursuant
to late,  normal or early  retirement  under a pension plan (which may include a
defined benefit plan or a defined  contribution  plan) sponsored by the Company,
as  defined  in such  plan,  but  only  if such  retirement  occurs  prior  to a
termination by the Company for Cause or by Executive for Good Reason.

     "TERMINATION  DATE" means the date this Agreement is terminated,  except to
the extent the  provisions  of Section  16 are  applicable,  which  shall be the
earlier  of  December  31,  2002  or the  date  of  termination  of  Executive's
employment pursuant to this Agreement.

     "TERMINATION  YEAR"  means  the year in which  Executive's  termination  of
employment occurs.

     "THIRTEENTH-MONTH   TERMINATION"   means  the  voluntary   termination   of
employment by Executive for any reason or no reason at all.

     "VACATION PAYMENT" means payments made to Executive with respect to accrued
but unused vacation days.

     2. EMPLOYMENT.

          (a) Subject to the terms and conditions of this Agreement, the Company
     agrees to employ Executive during the term hereof as its Chairman and Chief
     Executive Officer or as an officer of the Company having the same or a more
     senior title and greater responsibilities.  In his capacity as the Chairman
     and Chief Executive  Officer of the Company,  Executive shall report to the
     Board and shall have the customary powers, responsibilities and authorities
     of a Chairman and Chief Executive  Officer for corporations of the size and
     character  of the  Company,  as it  exists  from  time to time,  and as are
     assigned by the Board.

          (b) Subject to the terms and conditions of this  Agreement,  Executive
     hereby  accepts  employment  with the Company  commencing  on the Effective
     Date,  and agrees to devote his full working time and efforts,  to the best
     of his ability,  experience  and talent,  to the  performance  of services,
     duties  and  responsibilities  in  connection  therewith.  Executive  shall
     perform  such  duties  and  exercise  such  powers,  commensurate  with his
     position,  as the Board  shall  from time to time  delegate  to him on such

                                       4
<PAGE>
     terms  and  conditions  and  subject  to such  restrictions  the  Board may
     reasonably  from time to time impose.  Executive  also agrees to serve,  if
     elected, as a member of the Board.

          (c) Nothing in this Agreement shall preclude Executive,  so long as in
     the reasonable  determination of the Board such activities do not interfere
     with his duties and responsibilities hereunder, from engaging in charitable
     and community affairs,  from managing any passive investment made by him in
     publicly traded equity securities or other property  (provided that no such
     investment  may exceed 5% of the equity of any  entity) or,  without  prior
     notice to the Board and  subject to Section 15 and  Section  16(b)  hereof,
     from  serving  as a member of boards of  directors  or as a trustee  of any
     other corporation, association or entity.

     3. EFFECTIVE DATE; TERM OF EMPLOYMENT. This Agreement shall be effective as
the Effective Date.  Executive's  term of employment  under this Agreement shall
commence on the Effective  Date hereof and,  subject to the terms hereof,  shall
terminate on the Termination Date;  provided,  however,  that any termination of
Employment  by  Executive  for Good  Reason or pursuant to the Change in Control
provisions  of Section 8 may only be made on 30 days' prior  written  notice and
any other termination of employment by Executive other than for death, Permanent
Disability or Good Reason may only be made upon 90 days' prior written notice to
the Company.

     4. COMPENSATION.

          (a) SALARY.  The Company shall pay  Executive  during the term of this
     Agreement  the Base  Salary,  as  calculated  pursuant  to this  Section 4,
     payable in cash not less  frequently  than  bimonthly.  As of the Effective
     Date,  the Base Salary  shall be  $525,000.  As of January 1 of each annual
     anniversary  of the Effective  Date,  the Base Salary of Executive  will be
     increased from Executive's  Base Salary for the preceding  calendar year by
     the  greater  of (i) five  percent,  (ii)  the  average  percentage  salary
     increase  awarded  to all  employees  of the  Company  who are  not  senior
     executive  officers  of the  Company or (iii) an amount  determined  by the
     Compensation Committee.

          (b) ANNUAL CASH BONUS. In addition to Base  Compensation,  the Company
     will  pay  to  Executive  on or  prior  to  January  30 of  each  year  for
     performance in the preceding calendar year the Annual Cash Bonus.

          (c)  COMPENSATION  PLANS AND PROGRAMS.  Executive shall be eligible to
     participate in any compensation  plan or program  maintained by the Company
     from time to time, which compensation plans and programs are intended to be
     comparable to those  currently  maintained  by the Company,  in which other
     senior executives of the Company  participate on terms that are intended to
     be comparable to those applicable to such other senior executives.

          (d) STOCK  OPTIONS AND  RESTRICTED  STOCK AWARDS.  Executive  shall be
     eligible to receive grants of stock options and restricted  stock awards as
     determined in the discretion of the Compensation  Committee under any stock
     option plan or incentive plan of the Company or any affiliate.

                                       5
<PAGE>
     5. EMPLOYEE BENEFITS.

          (a) EMPLOYEE BENEFIT PROGRAMS,  PLANS AND PRACTICES. The Company shall
     provide Executive during the term of his employment hereunder with coverage
     under  all  employee  pension  and  welfare  benefit  programs,  plans  and
     practices (commensurate with his positions in the Company from time to time
     and to the extent  permitted under any employee benefit plan) in accordance
     with the terms  thereof,  which the Company  makes  available to its senior
     executives and which employee pension and welfare benefit  programs,  plans
     and  practices  that are  intended  to be  comparable  to  those  currently
     maintained by the Company;  provided,  however,  such  programs,  plans and
     practices  will be no less favorable than those in existence as of the date
     of execution of this Agreement.

          (b) VACATION AND FRINGE  BENEFITS.  Executive  shall be entitled to no
     less than the number of business  days paid  vacation in each calendar year
     to which  Executive  is entitled  immediately  prior to  execution  of this
     Agreement,  which  shall  be taken at such  times  as are  consistent  with
     Executive's  responsibilities  hereunder.  In addition,  Executive shall be
     entitled  to the  perquisites  and other  fringe  benefits  currently  made
     available  to  senior  executives  of the  Company,  commensurate  with his
     position with the Company.

     6.  EXPENSES.  Executive  is  authorized  to incur  reasonable  expenses in
carrying out his duties and  responsibilities  under this Agreement,  including,
without limitation, expenses for travel and similar items related to such duties
and responsibilities. The Company will reimburse Executive for all such expenses
upon  presentation by Executive from time to time of appropriately  itemized and
approved (consistent with the Company's policy) accounts of such expenditures.

     7. TERMINATION OF EMPLOYMENT.

          (a)  TERMINATION  BY COMPANY  OTHER THAN FOR CAUSE OR BY EXECUTIVE FOR
     GOOD REASON.  (i) The Company may terminate  Executive's  employment at any
     time for any reason. If Executive's employment is terminated by the Company
     other than for Cause) or if Executive  terminates  his  employment for Good
     Reason  prior  to  the  Termination  Date,  Executive  shall  receive  such
     payments,  if any, under  applicable  plans or programs,  including but not
     limited  to  those  referred  to in  Section  4(c)  hereof,  to which he is
     entitled  pursuant  to the terms of such plans or  programs.  In  addition,
     Executive shall be entitled to receive the following:

                    (A) A cash lump sum payment  equal to the sum of three times
               (1) Executive's  Base Salary at the annual rate as of the date of
               termination and (2) the Actual Bonus; and

                    (B) a cash lump sum payment with respect to (1) the Vacation
               Payment  and (2) the Expense  Payment  which shall be paid by the
               Company  to  Executive  within 30 days after the  termination  of
               Executive's employment by check payable to the order of Executive
               or by wire transfer to an account specified by Executive;

                                       6
<PAGE>
                    (C)  Executive  shall  also  be  entitled  to the  following
               benefits:

                         (i)  continued  medical,   dental,   vision,  and  life
                    insurance   coverage   (excluding   accident,   death,   and
                    disability  insurance) and any fringe benefit or perquisites
                    in effect  immediately  prior to the date of termination for
                    Executive and  Executive's  eligible  dependents  or, to the
                    extent such benefits are not  commercially  available,  such
                    other arrangements  reasonably  acceptable to Executive,  on
                    the  same   basis  as  in  effect   prior  to  the  date  of
                    termination,   whichever  is  deemed  to  provide  for  more
                    substantial benefits, for a period ending December 31, 2002;

                         (ii)  immediate 100% vesting of all  outstanding  stock
                    options,  stock  appreciation  rights and  restricted  stock
                    granted  or  issued  by  the   Company  to  the  extent  not
                    previously vested;

                         (iii)  all  other   accrued  or  vested   benefits   in
                    accordance  with the  terms of the  applicable  plan,  which
                    vested benefits shall include Executive's otherwise unvested
                    account  balances in the Company's  401(k) plan, which shall
                    be vested as of the date of termination; and

                         (iv)  if  so  requested  by   Executive,   outplacement
                    services  shall be provided by a  professional  outplacement
                    provider selected by Executive; PROVIDED, HOWEVER, that such
                    outplacement  services  shall be provided to  Executive at a
                    cost to the Company of not more than fifteen (15) percent of
                    such Executive's Base Salary.

          (b)   CURE   PERIOD   OF   COMPANY   FOR  GOOD   REASON   TERMINATION.
     Notwithstanding  the foregoing,  in the event that  Executive  provides the
     Company with a notice of  termination  stating  Good Reason,  except in the
     event of a  Thirteenth-Month  Termination,  the Company  shall have 30 days
     thereafter in which to cure or resolve the behavior otherwise  constituting
     Good Reason.  Any good faith  determination  by Executive  that Good Reason
     exists shall be presumed correct and shall be binding upon the Company.

          (c) PERMANENT  DISABILITY  OF EXECUTIVE.  If Executive has a Permanent
     Disability,  the Company or Executive may terminate Executive's  employment
     on  written  notice  thereof,  and  Executive  shall  receive  or  commence
     receiving, as soon as practicable:

               (i)  amounts  payable  pursuant  to  the  terms  of a  disability
          insurance policy or similar  arrangement  which the Company  maintains
          during the term hereof;

                                       7
<PAGE>
               (ii) the Actual Bonus,  prorated by a fraction,  the numerator of
          which is the number of days of the fiscal year until  termination  and
          the denominator of which is 365;

               (iii) the Vacation Payment and the Expense Payment; and

               (iv) such payments under applicable plans or programs,  including
          but not limited to those referred to in Section 4(c) hereof,  to which
          he is entitled pursuant to the terms of such plans or programs.

          (d) DEATH.  In the event of  Executive's  death during the term of his
     employment hereunder,  Executive's estate or designated beneficiaries shall
     receive or commence receiving, as soon as practicable:

               (i) the Actual  Bonus,  the  numerator  of which is the number of
          days of the fiscal year until his death and the  denominator  of which
          is 365;

               (ii) any  death  benefits  provided  under the  employee  benefit
          programs,  plans and practices  referred to in Section 5(a) hereof, in
          accordance with their terms;

               (iii) the Vacation Payment and the Expense Payment; and

               (iv) such payments under applicable plans or programs,  including
          but not limited to those referred to in Section 4(c) hereof,  to which
          Executive's  estate or designated  beneficiaries are entitled pursuant
          to the terms of such plans or programs.

          (e) TERMINATION BY THE COMPANY FOR CAUSE OR BY EXECUTIVE  WITHOUT GOOD
     REASON

               (i) The Company shall have the right to terminate the  employment
          of Executive for Cause.  In the event that  Executive's  employment is
          terminated  by the Company for Cause,  or by Executive  other than for
          Good Reason,  Executive shall only be entitled to receive the Vacation
          Payment  and the Expense  Payment.  Executive  shall not be  entitled,
          among other things, to the payment of any Annual Cash Bonus in respect
          of all or any  portion  of the fiscal  year in which such  termination
          occurs.  After the  termination of Executive's  employment  under this
          Section 7(e),  the  obligations of the Company under this Agreement to
          make any further payments or provide any benefits  specified herein to
          Executive shall thereupon cease and terminate.

               (ii) Termination of Executive for Cause shall be made by delivery
          to Executive of a copy of a resolution duly adopted by the affirmative
          vote of not less than a majority of the non-employee  directors of the
          Board at a regular or special  meeting  of such  directors  called and
          held  for  such  purpose,  after  30 days'  prior  written  notice  to
          Executive   specifying  the  basis  for  such   termination   and  the
          particulars  thereof and a reasonable  opportunity for Executive to be
          heard  prior to or at such  meeting,  finding  that in the  reasonable
          judgment of such  directors,  that any  conduct or event  constituting
          Cause has  occurred  and that  such  occurrence  warrants  Executive's
          termination.

                                       8
<PAGE>
     8. CHANGE IN CONTROL.

               (a) Executive shall be entitled to the compensation  provided for
          in this  Section 8  hereof,  if  within  two  years  after a Change in
          Control, Executive's employment by the Company shall be terminated (A)
          by the Company  for any reason  other than (I)  Executive's  Permanent
          Disability or Retirement,  (II) Executive's  death or (III) for Cause,
          or (B) by Executive with Good Reason.

               (b) In addition,  Executive shall be entitled to the compensation
          provided for in this Section 8, if the following  events occur: (A) an
          agreement is signed which, if consummated, would result in a Change of
          Control,  (B) Executive is terminated  without Cause by the Company or
          terminates employment with Good Reason prior to the anticipated Change
          in Control,  and (C) such  termination  (or the action leading to such
          termination,  in  the  case  of  Good  Reason)  is at the  request  or
          suggestion  of  the  acquiror  or  merger   partner  or  otherwise  in
          connection  with the  anticipated  Change in Control,  except that any
          termination of employment as set forth in clause (C), above,  shall be
          presumed,  in the  absence  of clear and  convincing  evidence  to the
          contrary,  to have  occurred in  connection  with a Change in Control,
          whether or not a Change in Control actually occurs.

               (c) The Company shall pay or cause to be paid to Executive a cash
          severance  amount  equal to  three  times  the sum of (i)  Executive's
          annual  Base  Salary on the date of the  Change  in  Control  (or,  if
          higher,  the annual  Base  Salary in effect  immediately  prior to the
          giving  of the  notice of  termination),  and (ii) the  Actual  Bonus;
          PROVIDED,  HOWEVER,  that in the event that Executive's  employment is
          terminated  by  a  Thirteenth-Month   Termination,   Executive's  cash
          severance  amount  shall only be equal to two times the sum of (i) and
          (ii) above.  This cash severance amount shall be payable in a lump sum
          calculated  without any discount or, at the election of Executive,  on
          any deferred payment schedule selected by Executive.

               (d) No compensation  or other benefit  pursuant to this Section 8
          hereof shall be payable under this  Agreement  unless and until either
          (i) a Change in Control  shall have  occurred  while  Executive  is an
          employee  of a  Company  and  Executive's  employment  by the  Company
          thereafter  shall have  terminated in  accordance  with this Section 8
          hereof  or (ii)  Executive's  employment  by the  Company  shall  have
          terminated in accordance with this Section 8 hereof in anticipation of
          the occurrence of a Change in Control.

               (e) Executive shall also be entitled to the (i) Vacation  Payment
          and the Expense  Payment,  (ii) the medical and other  benefits  under
          Section  7(a)(C)(i),  (iii) vesting of certain  security  rights under
          Section 7(a)(C)(ii), (iv) other accrued and vested plans under Section
          7(a)(C)(iii) and (v) outplacement services under Section (a)(C)(iv)

                                       9
<PAGE>
     9. EXCESS PARACHUTE EXCISE TAX.

               (i) If it is determined (as hereafter  provided) that any payment
          or  distribution  by the Company to or for the  benefit of  Executive,
          whether paid or payable or  distributed or  distributable  pursuant to
          the terms of this  Agreement or otherwise  pursuant to or by reason of
          any other agreement,  policy, plan, program or arrangement,  including
          without  limitation  any stock  option,  stock  appreciation  right or
          similar right,  or the lapse or  termination of any  restriction on or
          the vesting or  exercisability  of any of the foregoing (a "Payment"),
          would be subject to the excise tax imposed by Section 4999 of the Code
          by reason of being "contingent on a change in ownership or control" of
          the  Company,  within the meaning of Section  280G of the Code (or any
          successor provision thereto) or to any similar tax imposed by state or
          local law, or any  interest or  penalties  with respect to such excise
          tax (such tax or taxes, together with any such interest and penalties,
          are  hereafter  collectively  referred to as the "Excise  Tax"),  then
          Executive  shall be  entitled  to  receive  an  additional  payment or
          payments (a "Gross-Up  Payment") in an amount such that, after payment
          by Executive of all taxes (including any interest or penalties imposed
          with respect to such taxes),  including  any Excise Tax,  imposed upon
          the  Gross-Up  Payment,  Executive  retains an amount of the  Gross-Up
          Payment equal to the Excise Tax imposed upon the Payments.

                    (A) Subject to the provisions of this Section 9 hereof,  all
               determinations   required  to  be  made  under  this  Section  9,
               including  whether an Excise Tax is payable by Executive  and the
               amount of such  Excise  Tax and  whether a  Gross-Up  Payment  is
               required and the amount of such Gross-Up  Payment,  shall be made
               by the nationally recognized firm of certified public accountants
               (the  "Accounting  Firm") used by the Company prior to the Change
               in Control  (or, if such  Accounting  Firm shall be a  nationally
               recognized firm of certified public  accountants,  as selected by
               Executive).  The Accounting Firm shall be directed by the Company
               or Executive to submit its preliminary determination and detailed
               supporting  calculations to both the Company and Executive within
               15 calendar days after the date of termination of employment,  if
               applicable,  and any other such time or times as may be requested
               by the Company or Executive.  If the Accounting  Firm  determines
               that any Excise Tax is payable by  Executive,  the Company  shall
               pay the  required  Gross-Up  Payment  to, or for the  benefit of,
               Executive  within  five  business  days  after  receipt  of  such
               determination and calculations. If the Accounting Firm determines
               that no Excise Tax is payable by Executive, it shall, at the same
               time as it makes such  determination,  furnish  Executive with an
               opinion  that he has  substantial  authority  not to  report  any
               Excise Tax on his/her federal,  state,  local income or other tax
               return. Any determination by the Accounting Firm as to the amount
               of the  Gross-Up  Payment  shall be binding  upon the Company and
               Executive absent a contrary determination by the Internal Revenue

                                       10
<PAGE>
               Service or a court of competent jurisdiction;  provided, however,
               that  no  such  determination   shall  eliminate  or  reduce  the
               Company's  obligation to provide any Gross-Up  Payment that shall
               be due as a result of such contrary determination. As a result of
               the  uncertainty  in the  application of Section 4999 of the Code
               (or any  successor  provision  thereto)  and the  possibility  of
               similar uncertainty  regarding state or local tax law at the time
               of any  determination  by the Accounting  Firm  hereunder,  it is
               possible that  Gross-Up  Payments that will not have been made by
               the Company should have been made (an "Underpayment"), consistent
               with the calculations required to be made hereunder. In the event
               that  the  Company  exhausts  or  fails to  pursue  its  remedies
               pursuant to Section  6(f)(i)  hereof and Executive  thereafter is
               required  to make a payment of any Excise  Tax,  Executive  shall
               direct  the  Accounting  Firm  to  determine  the  amount  of the
               Underpayment  that has occurred  and to submit its  determination
               and  detailed  supporting  calculations  to both the  Company and
               Executive as promptly as possible. Any such Underpayment shall be
               promptly paid by the Company to, or for the benefit of, Executive
               within five business days after receipt of such determination and
               calculations.

                    (B) The federal, state and local income or other tax returns
               filed by  Executive  (or any filing  made by a  consolidated  tax
               group which  includes the Company) shall be prepared and filed on
               a consistent basis with the  determination of the Accounting Firm
               with  respect to the Excise Tax payable by  Executive.  Executive
               shall make proper payment of the amount of any Excise Tax, and at
               the  request  of the  Company,  provide to the  Company  true and
               correct copies (with any  amendments)  of his/her  federal income
               tax  return  as  filed  with the  Internal  Revenue  Service  and
               corresponding state and local tax returns, if relevant,  as filed
               with the applicable  taxing  authority,  and such other documents
               reasonably requested by the Company,  evidencing such payment. If
               prior to the filing of Executive's  federal income tax return, or
               corresponding  state  or  local  tax  return,  if  relevant,  the
               Accounting  Firm  determines  that  the  amount  of the  Gross-Up
               Payment should be reduced,  Executive  shall within five business
               days pay to the Company the amount of such reduction.

               (ii) In the event that the Internal  Revenue  Service claims that
          any payment or benefit  received under this  Agreement  constitutes as
          "excess parachute  payment",  within the meaning of Section 280G(b)(1)
          of the Code,  Executive  shall  notify the  Company in writing of such
          claim. Such notification  shall be given as soon as practicable but no
          later than 10 business days after  Executive is informed in writing of
          such claim and shall  apprise  the Company of the nature of such claim
          and the date on which such claim is  requested  to be paid.  Executive
          shall not pay such claim prior to the  expiration of the 30 day period
          following the date on which Executive gives such notice to the Company
          (or such shorter  period  ending on the date that any payment of taxes
          with respect to such claim is due). If the Company notifies  Executive

                                       11
<PAGE>
          in writing  prior to the  expiration of such period that it desires to
          contest  such  claim,   Executive  shall  (1)  give  the  Company  any
          information  reasonably  requested  by the  Company  relating  to such
          claim;  (2) take such action in connection  with contesting such claim
          as the Company shall reasonably  request in writing from time to time,
          including  without  limitation,  accepting legal  representation  with
          respect  to such  claim  by an  attorney  reasonably  selected  by the
          Company and reasonably  satisfactory to Executive;  (3) cooperate with
          the Company in good faith in order to effectively  contest such claim;
          and (4) permit the Company to participate in any proceedings  relating
          to such claim; provided,  however, that the Company shall bear and pay
          directly  all costs  and  expenses  (including,  but not  limited  to,
          additional  interest and  penalties and related  legal,  consulting or
          other similar fees) incurred in connection with such contest and shall
          indemnify and hold Executive harmless,  on an after-tax basis, for and
          against any Excise Tax or other tax (including  interest and penalties
          with respect thereto) imposed as a result of such  representation  and
          any payment of costs and expenses.

                    (A) The  Company  shall  control  all  proceedings  taken in
               connection with such contest and, at its sole option,  may pursue
               or  forgo  any  and  all  administrative  appeals,   proceedings,
               hearings  and  conferences  with the tax  authority in respect of
               such claim and may, at its sole option,  either direct  Executive
               to pay the tax  claimed and sue for a refund or contest the claim
               in any permissible manner, and Executive agrees to prosecute such
               contest before any administrative tribunal, in a court of initial
               jurisdiction and in one or more appellate  courts, as the Company
               shall determine;  provided,  however, that if the Company directs
               Executive  to pay such  claim and sue for a refund,  the  Company
               shall  advance  the  amount of such  payment to  Executive  on an
               interest-free  basis,  and  shall  indemnify  and hold  Executive
               harmless, on an after-tax basis, from any Excise Tax or other tax
               (including  interest and penalties with respect  thereto) imposed
               with  respect  to such  advance or with  respect  to any  imputed
               income with respect to such advance; and provide , further,  that
               if Executive is required to extend the statute of  limitations to
               enable the  Company to contest  such claim,  Executive  may limit
               this  extension  solely to such contested  amount.  The Company's
               control of the contest shall be limited to issues with respect to
               which a  corporate  deduction  would be  disallowed  pursuant  to
               Section  280G of the Code and  Executive  shall  be  entitled  to
               settle or contest,  as the case may be, any other issue raised by
               the Internal  Revenue Service or any other taxing  authority.  In
               addition,  no position may be taken nor any final  resolution  be
               agreed to by the  Company  without  Executive's  consent  if such
               position or resolution  could reasonably be expected to adversely
               affect  Executive  (including  adversely  affecting any other tax
               position of Executive unrelated to matters covered hereby).

                    (B)  If,  after  the  receipt  by  Executive  of any  amount
               advanced  by the  Company in  connection  with the contest of the
               Excise Tax  claim,  Executive  becomes  entitled  to receive  any

                                       12
<PAGE>
               refund with respect to such claim,  Executive  shall promptly pay
               to the  Company  the  amount of such  refund  (together  with any
               interest  paid  or  credited   thereon  after  taxes   applicable
               thereto); provided, however, if the amount of that refund exceeds
               the amount advanced by the Company or it is otherwise  determined
               for any  reason  that  additional  amounts  could  be paid by the
               Company to Executive  without  incurring any Excise Tax, any such
               amount will be promptly  paid by the  Company to  Executive.  If,
               after the  receipt  by  Executive  of an amount  advanced  by the
               Company in connection  with an Excise Tax claim, a  determination
               is made that  Executive  shall not be entitled to any refund with
               respect to such claim and the Company  does not notify  Executive
               in writing of its  intent to  contest  the denial of such  refund
               prior to the expiration of 30 days after such determination, such
               advance  shall be forgiven and shall not be required to be repaid
               and shall be deemed to be in consideration  for services rendered
               after the date of the Termination.

               (iii) The Company and Executive shall each provide the Accounting
          Firm access to and copies of any books,  records and  documents in the
          possession of the Company or Executive, as the case may be, reasonably
          requested by the  Accounting  Firm,  and otherwise  cooperate with the
          Accounting Firm in connection with the preparation and issuance of the
          determination contemplated by this Section 9.

               (iv)  The  fees  and  expenses  of the  Accounting  Firm  for its
          services  in  connection  with  the  determinations  and  calculations
          contemplated  by this  Section 9 hereof shall be borne by the Company.
          If such fees and expenses are  initially  advanced by  Executive,  the
          Company  shall  reimburse  Executive  the full amount of such fees and
          expenses  within five business days after receipt from  Executive of a
          statement therefor and reasonable evidence of his payment thereof.

     10.  MITIGATION  OF  DAMAGES.  Executive  shall not be required to mitigate
damages or the  amount of any  payment  provided  for under  this  Agreement  by
seeking other  employment or otherwise  after the  termination of his employment
hereunder.

     11. NOTICES.  All notices or communications  hereunder shall be in writing,
addressed as follows:

     To the Company:

          Franchise Finance Corporation of America
          17207 North Perimeter Drive
          Scottsdale, AZ  85255
          Attention: General Counsel

                                       13
<PAGE>
     To Executive:

          Mr. Morton H. Fleischer
          17207 North Perimeter Drive
          Scottsdale, AZ 85255

Any such notice or  communication  shall be delivered by hand, by telecopy (with
machine confirmation) or by courier or sent certified or registered mail, return
receipt requested, postage prepaid, addressed as above (or to such other address
as such party may designate in a notice duly delivered as described above),  and
the third  business day after the actual date of mailing  shall  constitute  the
time at which notice was given.

     12.  SEVERABILITY;  LEGAL FEES. If any provision of this Agreement shall be
declared to be invalid or unenforceable, in whole or in part, such invalidity or
unenforceability  shall not affect the remaining  provisions  hereof which shall
remain in full force and effect.  In the event that any dispute  arises  between
Executive and the Company as to the terms or  interpretation  of this Agreement,
whether  instituted  by formal legal  proceedings  or  otherwise,  including any
action that Executive  takes to enforce the terms of this Agreement or to defend
against any action taken by the Company,  Executive  shall be reimbursed for all
costs and expenses,  including  reasonable  attorneys'  fees,  arising from such
dispute,  proceedings  or  actions,  provided  that  Executive  shall  obtain  a
settlement or final judgement by a court of competent jurisdiction substantially
in favor of Executive.  Such reimbursement shall be paid within ten (10) days of
Executive's  furnishing  to the Company  written  evidence,  which may be in the
form,  among  other  things,  of a cancelled  check or receipt,  of any costs or
expenses incurred by Executive.

     13. SUCCESSORS; BINDING AGREEMENT, ASSIGNMENT.

          (a) The  Company  shall  require  any  successor  (whether  direct  or
     indirect,  by  purchase,  merger,  consolidation  or  otherwise)  to all or
     substantially  all  of  the  business  of  the  Company,  by  agreement  to
     expressly,  absolutely and unconditionally assume and agree to perform this
     Agreement in the same manner and to the same extent that the Company  would
     be required to perform it if no such succession had taken place. Failure of
     the Company to obtain such agreement prior to the effectiveness of any such
     succession  shall be a material  breach of this Agreement and shall entitle
     Executive  to  terminate  Executive's  employment  with the Company or such
     successor  for Good Reason  immediately  prior to or at any time after such
     succession. As used in this Agreement, "Company" shall mean (i) the Company
     as  hereinbefore  defined,  and (ii) any  successor to all the stock of the
     Company or to all or substantially all of the Company's  business or assets
     (other  than  with  respect  to sales of  assets  in the  ordinary  course,
     securitization  and whole loan sales provided by the Company's  interim and
     permanent financing  arrangements) which executes and delivers an agreement
     provided for in this Section 13(a) or which otherwise  becomes bound by all
     the terms and provisions of this  Agreement by operation of law,  including
     any parent or subsidiary of such a successor.

          (b) This Agreement shall inure to the benefit of and be enforceable by
     Executive's personal or legal representatives,  executors,  administrators,
     successors, heirs, distributees, devisees and legatees. If Executive should
     die while any amount would be payable to  Executive  hereunder if Executive

                                       14
<PAGE>
     had continued to live, all such amounts,  unless otherwise provided herein,
     shall be paid in accordance with the terms of this Agreement to Executive's
     estate or  designated  beneficiary.  Neither this  Agreement  nor any right
     arising hereunder shall be assignable or otherwise subject to hypothecation
     by  Executive  (except  by will or by  operation  of the laws of  intestate
     succession)  or by the  Company,  except  that the  Company may assign this
     Agreement to any  successor  (whether by merger,  purchase or otherwise) to
     all or substantially all of the stock, assets or businesses of the Company,
     if such successor expressly agrees to assume the obligations of the Company
     hereunder.

     14.  AMENDMENT.  This Agreement may only be amended by written agreement of
the parties hereto.

     15. NONDISCLOSURE OF CONFIDENTIAL INFORMATION.  At any time during or after
Executive's employment with the Company,  Executive shall not, without the prior
written consent of the Company, use, divulge, disclose or make accessible to any
other person, firm, partnership, corporation or other entity any confidential or
proprietary  information pertaining to the business of the Company or any of its
subsidiaries,  pursuant  to the  policies  set forth in the  Company's  employee
handbook and compliance manual, as amended from time to time.

     16. COVENANT NOT TO COMPETE.

          (a) During the period of his employment hereunder and for the first to
     occur of (i) one year following the  termination of employment of Executive
     or (ii) December 31, 2002, Executive agrees that, without the prior written
     consent of the Company, (a) he will not, directly or indirectly,  either as
     principal,  manager,  agent,  consultant,  officer,  stockholder,  partner,
     investor, lender or employee or in any other capacity, carry on, be engaged
     in or have any financial  interest in (other than an ownership  position of
     less than five percent in any company  whose  shares are publicly  traded),
     any business,  which is in  Competition  (as defined in Section 16(b)) with
     the existing business of the Company or its subsidiaries,  and (b) he shall
     not,  on his own  behalf  or on  behalf  of any  person,  firm or  company,
     directly or indirectly,  solicit or offer  employment to any person who has
     been employed by the Company or its  subsidiaries at any time during the 12
     months immediately preceding such solicitation.

          (b) For purposes of this Section 16, a business  shall be deemed to be
     in  Competition  with the  Company  or its  subsidiaries  if a  significant
     portion of its  business is  providing  financing to operators in the chain
     restaurant, convenience store or automotive service and parts industries in
     any portion of the United States.

          (c)  Executive and the Company agree that this covenant not to compete
     is a reasonable covenant under the circumstances, and further agree that if
     in the opinion of any court of competent jurisdiction such restraint is not
     reasonable  in any  respect,  such court  shall  have the right,  power and
     authority to excise or modify such provision or provisions of this covenant
     as to the court shall appear not reasonable and to enforce the remainder of
     the  covenant  as so  amended.  Executive  agrees  that any  breach  of the
     covenants  contained  in this  Section  16  would  irreparably  injure  the
     Company. Accordingly, Executive agrees that the Company may, in addition to

                                       15
<PAGE>
     pursuing any other  remedies it may have in law or in equity,  cease making
     any payments  otherwise required by this Agreement and obtain an injunction
     against  Executive  from any  court  having  jurisdiction  over the  matter
     restraining any further violation of this Agreement by Executive.

     17. BENEFICIARIES;  REFERENCES.  Executive shall be entitled to select (and
change,  to the extent  permitted  under any  applicable  law) a beneficiary  or
beneficiaries to receive any compensation or benefit payable hereunder following
Executive's  death,  and may change such election,  in either case by giving the
Company written notice thereof.  In the event of Executive's death or a judicial
determination  of his  incompetence,  reference  in this  Agreement to Executive
shall be deemed, where appropriate, to refer to his beneficiary, estate or other
legal  representative.  Any reference to the masculine  gender in this Agreement
shall include, where appropriate, the feminine.

     18.  SURVIVORSHIP.  The  respective  rights and  obligations of the parties
hereunder  shall  survive  any  termination  of  this  Agreement  to the  extent
necessary to the intended preservation of such rights and obligations, including
the  provisions of Section 16 herein.  The  provisions of this Section 18 are in
addition to the survivorship provisions of any other section of this Agreement.

     19.  GOVERNING  LAW. This  Agreement  shall be construed,  interpreted  and
governed in accordance with the laws of the State of Arizona  without  reference
to rules relating to conflicts of law.

     20.  EFFECT  ON  PRIOR  AGREEMENTS.  This  Agreement  contains  the  entire
understanding  between the parties  hereto and  supersedes  in all  respects any
prior or other agreement or  understanding  between the Company or any affiliate
of the Company and  Executive  including,  without  limitation,  the  Continuity
Agreement dated as of May 12, 1999 between the Company and Executive.

     21. WITHHOLDING. The Company shall be entitled to withhold from payment any
amount of withholding required by law.

                                       16
<PAGE>
     22.   COUNTERPARTS.   This  Agreement  may  be  executed  in  two  or  more
counterparts, each of which will be deemed an original.

                                        FRANCHISE FINANCE CORPORATION OF AMERICA

                                        By /s/ Christopher H. Volk
                                           -------------------------------------
                                           Name   Christopher H. Volk
                                           Title  President, Chief Operating
                                                  Officer, Assistant Secretary
                                                  and Assistant Treasurer

                                        /s/ Morton H. Fleischer
                                        ----------------------------------------
                                        Morton H. Fleischer

                                       17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00000-of-00352.parquet"}]]