Document:

EXHIBIT 10.15

                                    EBAY INC.

TO:      MAYNARD WEBB
FROM:    EBAY

RE:      RETENTION BONUS PLAN
DATE:    JANUARY 10, 2001

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

eBay Inc. (the "Company") is pleased to provide you with this Retention Bonus
Plan ("Plan") to encourage you to remain employed by the Company. Set forth
below is your Plan for 2001-2004.

RETENTION BONUS SCHEDULE:

Under the Plan, you are eligible to earn annual retention bonuses for the years
2001 through 2004, under the following schedule:

<TABLE>
<CAPTION>
         BONUS PAYMENT DATE                                  BONUS AMOUNT
         ------------------                                  ------------
         <S>                                                 <C>
         August 28, 2001                                      $  230,800
         August 28, 2002                                      $  346,200
         August 28, 2003                                      $  577,000
         August 28, 2004                                      $1,154,000
</TABLE>

The retention bonuses are subject to standard payroll deductions and
withholdings. You must be employed by the company on the Bonus Payment Date in
order to earn and receive the retention bonus. You understand that if your
employment ceases prior to the Bonus Payment Date for any reason, you will not
be eligible to receive the retention bonus for that or any subsequent year and
that no pro rata retention bonus can be earned.

AGREED AND ACCEPTED:

/s/Maynard Webb                             Date:   January 10, 2001
-----------------------------                     ------------------------------
MAYNARD WEBBEXHIBIT 10.17

                                    EBAY INC.

TO:      JEFF JORDAN
FROM:    EBAY

RE:      RETENTION BONUS PLAN
DATE:    MAY 16, 2000

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

eBay Inc. (the "Company") is pleased to provide you with this Retention Bonus
Plan ("Plan") to encourage you to remain employed by the Company. Set forth
below is your Plan for 2000-2004.

RETENTION BONUS SCHEDULE:

Under the Plan, you are eligible to earn annual retention bonuses for the years
2000 through 2004, under the following schedule:

<TABLE>
<CAPTION>
         BONUS PAYMENT DATE                                 BONUS AMOUNT
         ------------------                                 ------------
         <S>                                                <C>
         May 16, 2001                                         $314,000
         May 16, 2002                                         $298,000
         May 16, 2003                                         $282,000
         May 16, 2004                                         $266,000
</TABLE>

The retention bonuses are subject to standard payroll deductions and
withholdings. You must be employed by the company on the Bonus Payment Date in
order to earn and receive the retention bonus. You understand that if your
employment ceases prior to the Bonus Payment Date for any reason, you will not
be eligible to receive the retention bonus for that or any subsequent year and
that no pro rata retention bonus can be earned.

AGREED AND ACCEPTED:

/s/ Jeff Jordan                             Date:   May 16, 2000
-----------------------------                     ------------------------------
JEFF JORDAN<PAGE>   1

                                                                   EXHIBIT 10.67

                        FIDELITY NATIONAL FINANCIAL, INC.

                            (a Delaware corporation)

                                7,000,000 shares
                    Common Stock, par value $.0001 per share

                             Dated January 24, 2001

<PAGE>   2

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                 PAGE
                                                                                                                 ----
<S>               <C>                                                                                            <C>

SECTION 1.          Representations and Warranties................................................................3

         (a)  Representations and Warranties by the Company.......................................................3
                  (1)   Compliance with Registration Requirements.................................................3
                  (2)   Incorporated Documents....................................................................3
                  (3)   Independent Accountants...................................................................4
                  (4)   Financial Statements......................................................................4
                  (5)   Statutory Financial Statements............................................................4
                  (6)   No Material Adverse Change in Business....................................................5
                  (7)   Good Standing of the Company..............................................................5
                  (8)   Good Standing of Subsidiaries.............................................................5
                  (9)   Capitalization............................................................................6
                  (10)  Authorization of this Underwriting Agreement..............................................6
                  (11)  Description of the Securities.............................................................6
                  (12)  Absence of Defaults and Conflicts.........................................................6
                  (13)  Absence of Labor Dispute..................................................................7
                  (14)  Accounting Controls.......................................................................7
                  (15)  Absence of Proceedings....................................................................7
                  (16)  Accuracy of Exhibits......................................................................8
                  (17)  Taxes.....................................................................................8
                  (18)  Agreements Required to be Disclosed.......................................................8
                  (19)  Reinsurance Treaties, Contracts and Agreements............................................8
                  (20)  Insurance Reserving Practices.............................................................8
                  (21)  Ratings...................................................................................9
                  (22)  Absence of Further Requirements...........................................................9
                  (23)  Possession of Intellectual Property.......................................................9
                  (24)  Licenses and Permits......................................................................9
                  (25)  Title to Property........................................................................10
                  (26)  Investment Company Act...................................................................10
                  (27)  Environmental Laws.......................................................................10
         (b)  Officers' Certificates.............................................................................11

SECTION 2.          Sale and Delivery to Underwriters; Closing...................................................11

         (a)  Initial Securities.................................................................................11
         (b)  Option Securities..................................................................................11
         (c)  Payment............................................................................................12
         (d)  Denominations; Registration........................................................................12

SECTION 3.          Covenants of the Company.....................................................................12

         (a)  Compliance with Securities Regulations and Commission Requests.....................................12
         (b)  Filing of Amendments...............................................................................13
         (c)  Delivery of Registration Statements................................................................13
         (d)  Delivery of Prospectuses...........................................................................13
         (e)  Continued Compliance with Securities Laws..........................................................14
         (f)  Blue Sky Qualifications............................................................................14
         (g)  Earnings Statement.................................................................................14
</TABLE>

                                       i
<PAGE>   3

<TABLE>
<S>               <C>                                                                                            <C>

         (h)  Use of Proceeds....................................................................................14
         (i)  Listing............................................................................................14
         (j)  Restriction on Sale of Securities..................................................................14
         (k)  Reporting Requirements.............................................................................15

SECTION 4.          Payment of Expenses..........................................................................15

         (a)  Expenses...........................................................................................15
         (b)  Termination of Agreement...........................................................................16

SECTION 5.          Conditions of Underwriters' Obligations......................................................16

         (a)  Effectiveness of Registration Statement............................................................16
         (b)  Opinion of Stradling Yocca Carlson & Rauth.........................................................16
         (c)  Opinion of General Counsel of Company..............................................................16
         (d)  Opinion of Counsel for Underwriters................................................................16
         (e)  Officers' Certificate..............................................................................17
         (f)  Accountant's Comfort Letter........................................................................17
         (g)  Bring-down Comfort Letter..........................................................................17
         (h)  Ratings............................................................................................17
         (i)  Approval of Listing................................................................................18
         (j)  No Objection.......................................................................................18
         (k)  Lock-up Agreements.................................................................................18
         (l)  Over-Allotment Option..............................................................................18
         (m)  Additional Documents...............................................................................19
         (n)  Termination of Underwriting Agreement..............................................................19

SECTION 6.          Indemnification..............................................................................19

         (a)  Indemnification of Underwriters....................................................................19
         (b)  Indemnification of Company, Directors and Officers.................................................20
         (c)  Actions against Parties; Notification..............................................................20
         (d)  Settlement without Consent if Failure to Reimburse.................................................21

SECTION 7.          Contribution.................................................................................21

SECTION 8.          Representations, Warranties and Agreements to Survive Delivery...............................22

SECTION 9.          Termination..................................................................................22

         (a)  Termination; General...............................................................................22
         (b)  Liabilities........................................................................................23

SECTION 10.         Default by One or More of the Underwriters...................................................23

SECTION 11.         Notices......................................................................................24

SECTION 12.         Parties......................................................................................24

SECTION 13.         Governing Law and Time.......................................................................24

SECTION 14.         Effect of Headings...........................................................................24
</TABLE>

                                       ii
<PAGE>   4

                        FIDELITY NATIONAL FINANCIAL, INC.
                            (a Delaware corporation)

                                  Common Stock

                             UNDERWRITING AGREEMENT
                                                                January 24, 2001

MERRILL LYNCH & CO.
MERRILL LYNCH, PIERCE, FENNER & SMITH
            INCORPORATED
BEAR, STEARNS & CO. INC.,
LEHMAN BROTHERS INC.
U.S. BANCORP PIPER JAFFRAY INC.
  as Representatives of the Underwriters
  named in Schedule A hereto
c/o Merrill Lynch, Pierce, Fenner & Smith
                Incorporated
North Tower
World Financial Center
New York, New York  10281-1209

Ladies and Gentlemen:

         Fidelity National Financial, Inc., a Delaware corporation (the
"Company"), confirms its agreement with Merrill Lynch & Co., Merrill Lynch,
Pierce, Fenner & Smith Incorporated ("Merrill Lynch") and each of the other
Underwriters named in Schedule A hereto (collectively, the "Underwriters", which
term shall also include any underwriter substituted as hereinafter provided in
Section 10 hereof), for whom Merrill Lynch, Bear, Stearns & Co. Inc., Lehman
Brothers Inc. and U.S. Bancorp Piper Jaffray Inc. are acting as representatives
(in such capacity, the "Representatives"), with respect to the issue and sale by
the Company and the purchase by the Underwriters, acting severally and not
jointly, of the respective numbers of shares of Common Stock, par value $.0001
per share, of the Company ("Common Stock") set forth in said Schedule A, and
with respect to the grant by the Company to the Underwriters, acting severally
and not jointly, of the option described in Section 2(b) hereof to purchase all
or any part of 1,050,000 additional shares of Common Stock to cover
over-allotments, if any. The aforesaid 7,000,000 shares of Common Stock (the
"Initial Securities") to be purchased by the Underwriters and all or any part of
the 1,050,000 shares of Common Stock subject to the option described in Section
2(b) hereof (the "Option Securities") are hereinafter called, collectively, the
"Securities".

         The Company understands that the Underwriters propose to make a public
offering of the Securities as soon as the Representatives deem advisable after
this Agreement has been executed and delivered.

                                      D-1
<PAGE>   5

         The Company has filed with the Securities and Exchange Commission (the
"Commission") a registration statement on Form S-3 (No. 333-65837) and
pre-effective amendments nos. 1-5 thereto covering the registration of the
Securities and other securities as set forth therein under the Securities Act of
1933, as amended (the "1933 Act"), and the offering thereof from time to time in
accordance with Rule 415 of the rules and regulations of the Commission under
the 1933 Act (the "1933 Act Regulations"). Such registration statement has been
declared effective by the Commission. Such registration statement, as so
amended, including the exhibits thereto, schedules thereto, if any, and the
information, if any, deemed to be a part thereof pursuant to Rule 430A(b) of the
1933 Act Regulations (the "Rule 430A Information") or Rule 434(d) of the 1933
Act Regulations (the "Rule 434 Information"), is referred to herein as the
"Registration Statement"; and the final prospectus and the final prospectus
supplement relating to the offering of the Securities, in the forms first
furnished to the Underwriters by the Company for use in connection with the
offering of the Securities, are collectively referred to herein as the
"Prospectus"; provided, however, that all references to the "Registration
Statement" and the "Prospectus" shall also be deemed to include all documents
incorporated therein by reference pursuant to the Securities Exchange Act of
1934, as amended (the "1934 Act"), prior to the date hereof; provided, further,
that if the Company files a registration statement with the Commission pursuant
to Rule 462(b) of the 1933 Act Regulations (the "Rule 462(b) Registration
Statement"), then all references to "Registration Statement" shall also be
deemed to include the Rule 462(b) Registration Statement; and provided, further,
that if the Company elects to rely upon Rule 434 of the 1933 Act Regulations,
then all references to "Prospectus" shall also be deemed to include the final or
preliminary prospectus and the applicable term sheet or abbreviated term sheet
(the "Term Sheet"), as the case may be, in the forms first furnished to the
Underwriters by the Company in reliance upon Rule 434 of the 1933 Act
Regulations, and all references to the date of the Prospectus shall mean the
date of the Term Sheet. A "preliminary prospectus" shall be deemed to refer to
(i) any prospectus used before the Registration Statement became effective and
(ii) any prospectus that omitted, as applicable, the Rule 430A Information, the
Rule 434 Information or other information to be included upon pricing in a form
of prospectus filed with the Commission pursuant to Rule 424(b) of the 1933 Act
Regulations and was used after such effectiveness and prior to the initial
delivery of the Prospectus to the Underwriters by the Company. For purposes of
this Underwriting Agreement, all references to the Registration Statement,
Prospectus, Term Sheet or preliminary prospectus or to any amendment or
supplement to any of the foregoing shall be deemed to include any copy filed
with the Commission pursuant to its Electronic Data Gathering, Analysis and
Retrieval system ("EDGAR").

         All references in this Underwriting Agreement to financial statements
and schedules and other information which is "contained," "included" or "stated"
(or other references of like import) in the Registration Statement, Prospectus
or preliminary prospectus shall be deemed to mean and include all such financial
statements and schedules and other information which is incorporated by
reference in the Registration Statement, Prospectus or preliminary prospectus,
as the case may be; and all references in this Underwriting Agreement to
amendments or supplements to the Registration Statement, Prospectus or
preliminary prospectus shall be deemed to include the filing of any document
under the 1934 Act which is incorporated by reference in the Registration
Statement, Prospectus or preliminary prospectus, as the case may be, after the
execution of this Underwriting Agreement.

                                      D-2
<PAGE>   6

         SECTION 1. Representations and Warranties.

         (a) Representations and Warranties by the Company. The Company
represents and warrants to each Underwriter, as of the date hereof, as of the
Closing Time (as defined below) and, if applicable, as of each Date of Delivery
(as defined below) (in each case, a "Representation Date"), as follows:

                  (1) Compliance with Registration Requirements. The Company
         meets the requirements for use of Form S-3 under the 1933 Act. The
         Registration Statement (including any Rule 462(b) Registration
         Statement) has become effective under the 1933 Act and no stop order
         suspending the effectiveness of the Registration Statement (or such
         Rule 462(b) Registration Statement) has been issued under the 1933 Act
         and no proceedings for that purpose have been instituted or are pending
         or, to the knowledge of the Company, are contemplated by the
         Commission, and any request on the part of the Commission for
         additional information has been complied with.

                           At the respective times the Registration Statement
         (including any Rule 462(b) Registration Statement) and any
         post-effective amendments thereto (including the filing of the
         Company's most recent Annual Report on Form 10-K with the Commission)
         became effective and at each Representation Date, the Registration
         Statement (including any Rule 462(b) Registration Statement) and any
         amendments thereto complied and will comply in all material respects
         with the requirements of the 1933 Act and the 1933 Act Regulations and
         did not and will not contain an untrue statement of a material fact or
         omit to state a material fact required to be stated therein or
         necessary to make the statements therein not misleading. At the date of
         the Prospectus, at the Closing Time and at each Date of Delivery, if
         any, neither the Prospectus nor any amendments and supplements thereto
         included or will include an untrue statement of a material fact or
         omitted or will omit to state a material fact necessary in order to
         make the statements therein, in the light of the circumstances under
         which they were made, not misleading. If the Company elects to rely
         upon Rule 434 of the 1933 Act Regulations, the Company will comply with
         the requirements of Rule 434. Notwithstanding the foregoing, the
         representations and warranties in this subsection shall not apply to
         statements in or omissions from the Registration Statement or the
         Prospectus made in reliance upon and in conformity with information
         furnished to the Company in writing by any Underwriter through Merrill
         Lynch expressly for use in the Registration Statement or the
         Prospectus.

                           Each preliminary prospectus and prospectus filed as
         part of the Registration Statement as originally filed or as part of
         any amendment thereto, or filed pursuant to Rule 424 under the 1933
         Act, complied when so filed in all material respects with the 1933 Act
         Regulations and each preliminary prospectus and the Prospectus
         delivered to the Underwriters for use in connection with the offering
         of Securities will, at the time of such delivery, be identical to any
         electronically transmitted copies thereof filed with the Commission
         pursuant to EDGAR, except to the extent permitted by Regulation S-T.

                  (2) Incorporated Documents. The documents incorporated or
         deemed to be incorporated by reference in the Registration Statement
         and the Prospectus, when they

                                      D-3
<PAGE>   7

         became effective or at the time they were or hereafter are filed with
         the Commission, complied and will comply in all material respects with
         the requirements of the 1934 Act and the rules and regulations of the
         Commission thereunder (the "1934 Act Regulations") and, when read
         together with the other information in the Prospectus, at the date of
         the Prospectus, at the Closing Time and at each Date of Delivery, if
         any, did not and will not include an untrue statement of a material
         fact or omit to state a material fact necessary in order to make the
         statements therein, in the light of the circumstances under which they
         were made, not misleading.

                  (3) Independent Accountants. The accountants who certified the
         financial statements and any supporting schedules thereto included in
         the Registration Statement and the Prospectus are independent public
         accountants as required by the 1933 Act and the 1933 Act Regulations.

                  (4) Financial Statements. The financial statements of the
         Company included in the Registration Statement and the Prospectus,
         together with the related schedules and notes, as well as those
         financial statements, schedules and notes of any other entity included
         therein, present fairly the financial position of the Company and its
         consolidated subsidiaries, or such other entity, as the case may be, at
         the dates indicated and the statement of operations, stockholders'
         equity and cash flows of the Company and its consolidated subsidiaries,
         or such other entity, as the case may be, for the periods specified.
         Such financial statements have been prepared in conformity with
         generally accepted accounting principles ("GAAP") applied on a
         consistent basis throughout the periods involved. The supporting
         schedules, if any, included in the Registration Statement and the
         Prospectus present fairly in accordance with GAAP the information
         required to be stated therein. The selected financial data and the
         summary financial information included in the Prospectus present fairly
         the information shown therein and have been compiled on a basis
         consistent with that of the audited financial statements included in
         the Registration Statement and the Prospectus. In addition, any pro
         forma financial statements of the Company and its subsidiaries and the
         related notes thereto included in the Registration Statement and the
         Prospectus present fairly the information shown therein, have been
         prepared in accordance with the Commission's rules and guidelines with
         respect to pro forma financial statements and have been properly
         compiled on the bases described therein, and the assumptions used in
         the preparation thereof are reasonable and the adjustments used therein
         are appropriate to give effect to the transactions and circumstances
         referred to therein.

                  (5) Statutory Financial Statements. The statutory financial
         statements of the Company's subsidiaries that are insurance companies
         (the "Insurance Subsidiaries") (A) have for each relevant period been
         prepared in conformity with statutory accounting practices required or
         permitted by the National Association of Insurance Commissioners and by
         the insurance laws of their respective states of domicile, and the
         rules and regulations promulgated thereunder, and such statutory
         accounting practices have been applied on a consistent basis throughout
         the periods involved, except as may otherwise be indicated therein or
         in the notes thereto; and (B) present fairly the statutory financial
         position of the Insurance Subsidiaries as at the dates thereof, and the
         statutory basis results of operations of the Insurance Subsidiaries for
         the periods covered thereby.

                                      D-4
<PAGE>   8

                  (6) No Material Adverse Change in Business. Since the
         respective dates as of which information is given in the Registration
         Statement and the Prospectus, except as otherwise stated therein, (A)
         there has been no material adverse change in the condition, financial
         or otherwise, or in the earnings, business affairs, management or
         business prospects of the Company and its subsidiaries considered as
         one enterprise, whether or not arising in the ordinary course of
         business (a "Material Adverse Effect"), (B) there has not been any
         material adverse change or any development involving a prospective
         material adverse change in the capital stock or in the long-term debt
         of the Company or any of its subsidiaries, (C) neither the Company nor
         any of its subsidiaries has incurred any liability or obligation,
         direct or contingent, which is material to the Company and its
         subsidiaries considered as one enterprise, (D) there have been no
         transactions entered into by the Company or any of its subsidiaries,
         other than those arising in the ordinary course of business, which are
         material with respect to the Company and its subsidiaries considered as
         one enterprise and (E) except for regular dividends on the Company's
         common stock or preferred stock, in amounts per share that are
         consistent with past practice or the applicable charter document or
         supplement thereto, respectively, there has been no dividend or
         distribution of any kind declared, paid or made by the Company on any
         class of its capital stock.

                  (7) Good Standing of the Company. The Company has been duly
         organized and is validly existing as a corporation in good standing
         under the laws of the State of Delaware and has corporate power and
         authority to own, lease and operate its properties and to conduct its
         business as described in the Prospectus and to enter into and perform
         its obligations under, or as contemplated under, this Underwriting
         Agreement. The Company is duly qualified as a foreign corporation to
         transact business and is in good standing in each other jurisdiction in
         which such qualification is required, whether by reason of the
         ownership or leasing of property or the conduct of business, except
         where the failure to so qualify or be in good standing would not result
         in a Material Adverse Effect.

                  (8) Good Standing of Subsidiaries. Each "significant
         subsidiary" of the Company (as such term is defined in Rule 1-02 of
         Regulation S-X promulgated under the 1933 Act) and (if not already
         included in such definition) Fidelity National Title Insurance Company,
         Fidelity National Title Insurance Company of New York, Chicago Title
         and Trust Company, Chicago Title Insurance Company, Ticor Title
         Insurance Company, Security Union Title Insurance Company and Alamo
         Title Insurance (each, a "Subsidiary" and, collectively, the
         "Subsidiaries"), if any, has been duly organized and is validly
         existing as a corporation in good standing under the laws of the
         jurisdiction of its incorporation, has corporate power and authority to
         own, lease and operate its properties and to conduct its business as
         described in the Prospectus and is duly qualified as a foreign
         corporation to transact business and is in good standing in each
         jurisdiction in which such qualification is required, whether by reason
         of the ownership or leasing of property or the conduct of business,
         except where the failure to so qualify or be in good standing would not
         result in a Material Adverse Effect. Except as otherwise stated in the
         Registration Statement and the Prospectus, all of the issued and
         outstanding capital stock of each Subsidiary has been duly authorized
         and is validly issued, fully paid and non-assessable and is owned by
         the Company, directly or through subsidiaries, free and clear

                                      D-5
<PAGE>   9

         of any security interest, mortgage, pledge, lien, encumbrance, claim or
         equity. None of the outstanding shares of capital stock of any
         Subsidiary was issued in violation of preemptive or other similar
         rights of any securityholder of such Subsidiary.

                  (9) Capitalization. The authorized, issued and outstanding
         shares of capital stock of the Company are as set forth in the column
         entitled "Actual" under the "Capitalization" section of the Prospectus
         (except for subsequent issuances thereof, if any, contemplated under
         this Underwriting Agreement, pursuant to reservations, agreements or
         employee benefit plans referred to in the Prospectus or pursuant to the
         exercise of convertible securities or options referred to in the
         Prospectus). Such shares of capital stock have been duly authorized and
         validly issued by the Company and are fully paid and non-assessable,
         and none of such shares of capital stock was issued in violation of
         preemptive or other similar rights of any securityholder of the
         Company.

                  (10) Authorization of this Underwriting Agreement. This
         Underwriting Agreement has been duly authorized, executed and delivered
         by the Company, and constitutes a valid and binding agreement of the
         Company, enforceable in accordance with its terms except (i) as the
         enforceability hereof may be limited by bankruptcy, insolvency,
         reorganization, moratorium of other similar laws now or hereafter in
         effect relating to creditors' rights generally or by general principles
         of equity (regardless of whether enforcement is considered in a
         proceeding at law or in equity) and (ii) as any rights to
         indemnification and contribution provided pursuant to this Underwriting
         Agreement may be limited by public policy.

                  (11) Description of the Securities. The Securities as of each
         Representation Date, will conform in all material respects to the
         statements relating thereto contained in the Prospectus.

                  (12) Absence of Defaults and Conflicts. Neither the Company
         nor any of its subsidiaries is in violation of its charter or by-laws
         or in default in the performance or observance of any obligation,
         agreement, covenant or condition contained in any contract, indenture,
         mortgage, deed of trust, loan or credit agreement, note, lease or other
         agreement or instrument to which the Company or any of its subsidiaries
         is a party or by which it or any of them may be bound, or to which any
         of the assets, properties or operations of the Company or any of its
         subsidiaries is subject (collectively, "Agreements and Instruments"),
         except for such defaults that would not result in a Material Adverse
         Effect. The execution, delivery and performance of this Underwriting
         Agreement and any other agreement or instrument entered into or issued
         or to be entered into or issued by the Company in connection with the
         transactions contemplated hereby or thereby or in the Registration
         Statement and the Prospectus and the consummation of the transactions
         contemplated herein and in the Registration Statement and the
         Prospectus (including the issuance and sale of the Securities and the
         use of the proceeds from the sale of the Securities as described under
         the caption "Use of Proceeds" therein) and compliance by the Company
         with its obligations hereunder and thereunder have been duly authorized
         by all necessary corporate action and do not and will not, whether with
         or without the giving of notice or passage of time or both, (i)
         conflict with or constitute a breach of, or default or Repayment Event
         (as defined below) under, or (ii) result in the creation or imposition

                                      D-6
<PAGE>   10

         of any lien, charge or encumbrance upon any assets, properties or
         operations of the Company or any of its subsidiaries pursuant to, any
         Agreements and Instruments; nor will such action result in any
         violation of any applicable law, statute, rule, regulation, judgment,
         order, writ or decree of any government, government instrumentality or
         court, domestic or foreign, having jurisdiction over the Company or any
         of its subsidiaries or any of their assets, properties or operations,
         except for such violations that would not result in a Material Adverse
         Effect, nor will such action result in any violation of the provisions
         of the charter or by-laws of the Company or any of its Subsidiaries. As
         used herein, a "Repayment Event" means any event or condition which
         gives the holder of any note, debenture or other evidence of
         indebtedness (or any person acting on such holder's behalf) the right
         to require the repurchase, redemption or repayment of all or a portion
         of such indebtedness by the Company or any of its subsidiaries;
         provided, however, that "Repayment Event" shall not include the
         obligation of the Company pursuant to Section 3.3 of the Credit
         Agreement dated as of February 10, 2000 (the "Credit Agreement")
         between the Company, the Lenders named therein, Bank of America, N.A.,
         Chase Securities, Inc., Morgan Stanley Senior Funding, Inc., and
         Paribas, to apply proceeds from the sale of the Securities to repayment
         of loans under the Credit Agreement.

                  (13) Absence of Labor Dispute. No labor dispute with the
         employees of the Company or any of its subsidiaries exists or, to the
         knowledge of the Company, is imminent, and the Company is not aware of
         any existing or imminent labor disturbance by the employees of any of
         its or any subsidiary's principal suppliers, manufacturers, customers
         or contractors, which, in either case, may reasonably be expected to
         result in a Material Adverse Effect.

                  (14) Accounting Controls. The Company and each of its
         subsidiaries maintains a system of internal accounting controls
         sufficient to provide reasonable assurance that: (A) transactions are
         executed in accordance with management's general or specific
         authorizations; (B) transactions are recorded as necessary to permit
         preparation of financial statements in conformity with GAAP and to
         maintain asset accountability; (C) access to assets is permitted only
         in accordance with management's general or specific authorization; and
         (D) the recorded accountability for assets is compared with the
         existing assets at reasonable intervals and appropriate action is taken
         with respect to any differences.

                  (15) Absence of Proceedings. There is no action, suit,
         proceeding, inquiry or investigation before or brought by any court or
         governmental agency or body, domestic or foreign, now pending, or to
         the knowledge of the Company threatened, against or affecting the
         Company or any of its subsidiaries which is required to be disclosed in
         the Registration Statement and the Prospectus (other than as stated
         therein), or which might reasonably be expected to result in a Material
         Adverse Effect, or which might reasonably be expected to materially and
         adversely affect the assets, properties or operations thereof or the
         consummation of the transactions contemplated under the Prospectus,
         this Underwriting Agreement or the performance by the Company of its
         obligations hereunder and thereunder. The aggregate of all pending
         legal or governmental proceedings to which the Company or any of its
         subsidiaries is a party or of which any of their respective assets,
         properties or operations is the subject which are not described in

                                      D-7
<PAGE>   11

         the Registration Statement and the Prospectus, including ordinary
         routine litigation incidental to the business, could not reasonably be
         expected to result in a Material Adverse Effect.

                  (16) Accuracy of Exhibits. There are no contracts or documents
         which are required to be described in the Registration Statement, the
         Prospectus or the documents incorporated by reference therein or to be
         filed as exhibits thereto which have not been so described and filed as
         required.

                  (17) Taxes. All material tax returns required to be filed by
         the Company and each of its subsidiaries in any jurisdiction have been
         filed, other than those filings being contested in good faith, and all
         material taxes, including withholding taxes, penalties and interest,
         assessments, fees and other charges due pursuant to such returns or
         pursuant to any assessment received by the Company or any of its
         subsidiaries have been paid, other than those being contested in good
         faith and for which adequate reserves have been provided.

                  (18) Agreements Required to be Disclosed. No relationship,
         direct or indirect, or agreement, arrangement or understanding
         (including, without limitation, any voting agreement), exists between
         or among the Company or any of its subsidiaries and any other party,
         which is required by the Act to be described or incorporated by
         reference in the Registration Statement or the Prospectus or to be
         filed as an exhibit to the Registration Statement which is not
         described, filed or incorporated by reference as required.

                  (19) Reinsurance Treaties, Contracts and Agreements. Except as
         disclosed in the Prospectus, all reinsurance treaties, reinsurance
         contracts and reinsurance agreements to which the Company or any of its
         subsidiaries is a party are in full force and effect and none of the
         Company or any of its subsidiaries is in violation of, or in default in
         the performance, observance or fulfillment of, any obligation,
         agreement, covenant or condition contained therein, except where the
         failure to be in full force and effect and except where any such
         violation or default would not, singly or in the aggregate, have a
         Material Adverse Effect; none of the Company or any of its subsidiaries
         has received any notice from any of the other parties to such treaties,
         contracts or agreements which are material to its business that such
         other party intends not to perform in any material respect such treaty,
         contract or agreement, and the Company and its subsidiaries have no
         reason to believe that any of the parties to such treaties, contracts
         or agreements will be unable to perform such treaty, contract,
         agreement or arrangement, except where such non-performance would not,
         singly or in the aggregate, have a Material Adverse Effect.

                  (20) Insurance Reserving Practices. Except as disclosed in the
         Prospectus, none of the Company or any of its subsidiaries have made
         any material changes in their insurance reserving practices during the
         last two years.

                                      D-8
<PAGE>   12

                  (21) Ratings. No "nationally recognized statistical rating
         organization" as such term is defined for purposes of Rule 436(g)(2)
         under the Act has indicated to the Company that it is considering the
         downgrading, suspension or withdrawal of, or any review for a possible
         change that does not indicate the direction of the possible change in,
         any rating assigned to the Company, or any securities of the Company.

                  (22) Absence of Further Requirements. No filing with, or
         authorization, approval, consent, license, order, registration,
         qualification or decree of, any court or governmental authority or
         agency, domestic or foreign, is necessary or required for the due
         authorization, execution and delivery by the Company of this
         Underwriting Agreement or for the performance by the Company of the
         transactions contemplated under the Prospectus or this Underwriting
         Agreement, except such as have been already made, obtained or rendered,
         as applicable.

                  (23) Possession of Intellectual Property. The Company and its
         subsidiaries own or possess, or can acquire on reasonable terms,
         adequate patents, patent rights, licenses, inventions, copyrights,
         know-how (including trade secrets and other unpatented and/or
         unpatentable proprietary or confidential information, systems or
         procedures), trademarks, service marks, trade names or other
         intellectual property (collectively, "Intellectual Property") necessary
         to carry on the business now operated by them, and neither the Company
         nor any of its subsidiaries has received any notice or is otherwise
         aware of any infringement of or conflict with asserted rights of others
         with respect to any Intellectual Property or of any facts or
         circumstances which would render any Intellectual Property invalid or
         inadequate to protect the interest of the Company or any of its
         subsidiaries therein, and which infringement or conflict (if the
         subject of any unfavorable decision, ruling or finding) or invalidity
         or inadequacy, singly or in the aggregate, would result in a Material
         Adverse Effect.

                  (24) Licenses and Permits. Each of the Company and its
         subsidiaries (A) holds such permits, licenses, consents, exemptions,
         franchises, authorizations and other approvals from insurance
         departments and other governmental or regulatory authorities (each, an
         "Authorization") (including, without limitation, insurance licenses
         from the insurance regulatory agencies of the various states or other
         jurisdictions where it conducts business (the "Insurance Licenses")),
         and has made all filings with and notices to, all governmental or
         regulatory authorities and self-regulatory organizations and all courts
         and other tribunals, as are necessary to own, lease, license and
         operate its respective properties and to conduct its business, except
         where the failure to have any such Authorizations or Insurance Licenses
         or to make any such filing or notice would not, singly or in the
         aggregate, have a Material Adverse Effect, and (B) to the knowledge of
         the Company, has fulfilled and performed all material obligations
         necessary to maintain such Authorizations and Insurance Licenses. Each
         such Authorization and Insurance License is valid and in full force and
         effect and each of the Company and its subsidiaries is in compliance
         with all the terms and conditions thereof and with the rules and
         regulations of the authorities and governing bodies having jurisdiction
         with respect thereto, except where the failure so to comply or where
         the invalidity of such Insurance Licenses or the failure of such
         Insurance Licenses to be in

                                      D-9
<PAGE>   13

         full force and effect would not, singly or in the aggregate, have a
         Material Adverse Effect; and no event has occurred (including, without
         limitation, the receipt of any notice from any authority or governing
         body) which allows or, after notice or lapse of time or both, would
         allow, revocation, suspension or termination of any such Authorization
         or Insurance License or results or, after notice or lapse of time or
         both, would result in any other impairment of the rights of the holder
         of any such Authorization or Insurance License, except where the
         revocation, suspension, termination or impairment would not, singly or
         in the aggregate, have a Material Adverse Effect; such Authorizations
         and Insurance Licenses contain no restrictions that are burdensome to
         the Company or any of its subsidiaries, except where such failure to be
         valid and in full force and effect or to be in compliance, the
         occurrence of any such event or the presence of any such restriction
         would not, singly or in the aggregate, have a Material Adverse Effect;
         and no insurance regulatory agency or body has issued any order or
         decree impairing, restricting or prohibiting the payment of dividends
         by any of the subsidiaries to its parent.

                  (25) Title to Property. The Company and its subsidiaries have
         good and marketable title in fee simple to all real property owned by
         the Company and its subsidiaries and good and marketable title to all
         other properties owned by them, in each case, free and clear of all
         mortgages, pledges, liens, security interests, claims, defects,
         restrictions or encumbrances of any kind, except (A) as otherwise
         stated in the Registration Statement and the Prospectus or (B) those
         which do not, singly or in the aggregate, materially affect the value
         of such property and do not interfere with the use made and proposed to
         be made of such property by the Company or any of its subsidiaries
         considered as one enterprise. All of the leases and subleases material
         to the business of the Company and its subsidiaries considered as one
         enterprise, and under which the Company or any of its subsidiaries
         holds properties described in the Prospectus, are in full force and
         effect, and neither the Company nor any of its subsidiaries has
         received any notice of any material claim of any sort that has been
         asserted by anyone adverse to the rights of the Company or any of its
         subsidiaries under any of the leases or subleases mentioned above, or
         affecting or questioning the rights of the Company or such subsidiary
         of the continued possession of the leased or subleased premises under
         any such lease or sublease.

                  (26) Investment Company Act. The Company is not, and upon the
         issuance and sale of the Securities as herein contemplated and the
         application of the net proceeds therefrom as described in the
         Prospectus will not be, an "investment company" within the meaning of
         the Investment Company Act of 1940, as amended (the "1940 Act").

                  (27) Environmental Laws. Except as otherwise stated in the
         Registration Statement and the Prospectus and except as would not,
         singly or in the aggregate, result in a Material Adverse Effect, (A)
         neither the Company nor any of its subsidiaries is in violation of any
         federal, state, local or foreign statute, law, rule, regulation,
         ordinance, code, policy or rule of common law or any judicial or
         administrative interpretation thereof including any judicial or
         administrative order, consent, decree or judgment, relating to
         pollution or protection of human health, the environment (including,
         without

                                      D-10
<PAGE>   14

         limitation, ambient air, surface water, groundwater, land surface or
         subsurface strata) or wildlife, including, without limitation, laws and
         regulations relating to the release or threatened release of chemicals,
         pollutants, contaminants, wastes, toxic substances, hazardous
         substances, petroleum or petroleum products (collectively, "Hazardous
         Materials") or to the manufacture, processing, distribution, use,
         treatment, storage, disposal, transport or handling of Hazardous
         Materials (collectively, "Environmental Laws"), (B) neither the Company
         nor any of its subsidiaries fails to possess any permit, authorization
         or approval required under any applicable Environmental Laws or to be
         in compliance with their requirements, (C) there are no pending or, to
         the Company's knowledge, threatened administrative, regulatory or
         judicial actions, suits, demands, demand letters, claims, liens,
         notices of noncompliance or violation, investigation or proceedings
         relating to any Environmental Law against the Company or any of its
         subsidiaries and (D) there are no events or circumstances (including
         costs and potential liabilities to third parties) that might reasonably
         be expected to form the basis of an order for clean-up or remediation,
         or an action, suit or proceeding by any private party or governmental
         body or agency, against or affecting the Company or any of its
         subsidiaries relating to Hazardous Materials or any Environmental Laws.

         (b) Officers' Certificates. Any certificate signed by any officer of
the Company or any of its subsidiaries and delivered to any Underwriter or to
counsel for the Underwriters in connection with the offering of the Securities
shall be deemed a representation and warranty by the Company to each Underwriter
as to the matters covered thereby on the date of such certificate and, unless
subsequently amended or supplemented, at each Representation Date subsequent
thereto.

         SECTION 2. Sale and Delivery to Underwriters; Closing.

         (a) Initial Securities. On the basis of the representations and
warranties herein contained and subject to the terms and conditions herein set
forth, the Company agrees to sell to each Underwriter, severally and not
jointly, and each Underwriter, severally and not jointly, agrees to purchase
from the Company, at the price per share set forth in Schedule B, the number of
Initial Securities set forth in Schedule A opposite the name of such
Underwriter, plus any additional number of Initial Securities which such
Underwriter may become obligated to purchase pursuant to the provisions of
Section 10 hereof.

         (b) Option Securities. In addition, on the basis of the representations
and warranties herein contained and subject to the terms and conditions herein
set forth, the Company hereby grants an option to the Underwriters, severally
and not jointly, to purchase up to the number of Option Securities set forth
therein at a price per Option Security equal to the price per Initial Security,
less an amount equal to any dividends or distributions declared by the Company
and paid or payable on the Initial Securities but not payable on the Option
Securities. Such option, will expire 30 days after the date hereof, and may be
exercised in whole or in part from time to time only for the purpose of covering
over-allotments which may be made in connection with the offering and
distribution of the Initial Securities upon notice by Merrill Lynch to the
Company setting forth the number of Option Securities as to which the several
Underwriters are then exercising the option and the time, date and place of
payment and delivery for such Option Securities. Any such time and date of
payment and delivery (each, a "Date of Delivery") shall

                                      D-11
<PAGE>   15

be determined by Merrill Lynch, but shall not be later than seven full business
days after the exercise of said option, nor in any event prior to the Closing
Time, unless otherwise agreed upon by Merrill Lynch and the Company. If the
option is exercised as to all or any portion of the Option Securities, each of
the Underwriters, severally and not jointly, will purchase that proportion of
the total number of Option Securities then being purchased which the number of
Initial Securities each such Underwriter has severally agreed to purchase as set
forth herein bears to the total number of Initial Securities, subject to such
adjustments as Merrill Lynch in its discretion shall make to eliminate any sales
or purchases of a fractional number of Option Securities.

         (c) Payment. Payment of the purchase price for, and delivery of, the
Initial Securities shall be made at the offices of LeBoeuf, Lamb, Greene &
MacRae, L.L.P. or at such other place as shall be agreed upon by Merrill Lynch
and the Company, at 9:00 A.M. (Eastern time) on the third (fourth, if the
pricing occurs after 4:30 P.M. (Eastern time) on any given day) business day
after the date hereof (unless postponed in accordance with the provisions of
Section 10 hereof), or such other time not later than ten business days after
such date as shall be agreed upon by Merrill Lynch and the Company (such time
and date of payment and delivery being herein called "Closing Time"). In
addition, in the event that the Underwriters have exercised their option, if
any, to purchase any or all of the Option Securities, payment of the purchase
price for, and delivery of such Option Securities, shall be made at the
above-mentioned offices of LeBoeuf, Lamb, Greene & MacRae, L.L.P. or at such
other place as shall be agreed upon by Merrill Lynch and the Company, on the
relevant Date of Delivery as specified in the notice from Merrill Lynch to the
Company.

         Payment shall be made to the Company by wire transfer of immediately
available funds to a bank account designated by the Company, against delivery to
Merrill Lynch for the respective accounts of the Underwriters of the Securities
to be purchased by them. It is understood that each Underwriter has authorized
Merrill Lynch, for its account, to accept delivery of, receipt for, and make
payment of the purchase price for, the Securities which it has severally agreed
to purchase. Merrill Lynch, individually and not as representative of the
Underwriters, may (but shall not be obligated to) make payment of the purchase
price for the Securities to be purchased by any Underwriter whose funds have not
been received by the Closing Time or the relevant Date of Delivery, as the case
may be, but such payment shall not relieve such Underwriter from its obligations
hereunder.

         (d) Denominations; Registration. Certificates representing the
Securities shall be in such denominations and registered in such names as
Merrill Lynch may request in writing at least one full business day prior to the
Closing Time or the relevant Date of Delivery, as the case may be. Certificates
representing the Securities will be made available for examination and packaging
by Merrill Lynch in the City of New York not later than 10:00 A.M. (Eastern
time) on the business day prior to the Closing Time or the relevant Date of
Delivery, as the case may be.

         SECTION 3. Covenants of the Company. The Company covenants with Merrill
Lynch and with each Underwriter participating in the offering of Securities, as
follows:

         (a) Compliance with Securities Regulations and Commission Requests. The
Company, subject to Section 3(b), will comply with the requirements of Rule 430A
of the 1933

                                      D-12
<PAGE>   16

Act Regulations and/or Rule 434 of the 1933 Act Regulations, if and as
applicable, and will notify the Representatives immediately, and confirm the
notice in writing, of (i) the effectiveness of any post-effective amendment to
the Registration Statement or the filing of any supplement or amendment to the
Prospectus, (ii) the receipt of any comments from the Commission, (iii) any
request by the Commission for any amendment to the Registration Statement or any
amendment or supplement to the Prospectus or for additional information, and
(iv) the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement or of any order preventing or
suspending the use of any preliminary prospectus, or of the suspension of the
qualification of the Securities for offering or sale in any jurisdiction, or of
the initiation or threatening of any proceedings for any of such purposes. The
Company will promptly effect the filings necessary pursuant to Rule 424 and will
take such steps as it deems necessary to ascertain promptly whether the
Prospectus transmitted for filing under Rule 424 was received for filing by the
Commission and, in the event that it was not, it will promptly file the
Prospectus. The Company will make every reasonable effort to prevent the
issuance of any stop order and, if any stop order is issued, to obtain the
lifting thereof at the earliest possible moment.

         (b) Filing of Amendments. The Company will give the Representatives
notice of its intention to file or prepare any amendment to the Registration
Statement (including any filing under Rule 462(b) of the 1933 Act Regulations),
any Term Sheet or any amendment, supplement or revision to either the prospectus
included in the Registration Statement at the time it became effective or to the
Prospectus, whether pursuant to the 1933 Act, the 1934 Act or otherwise, will
furnish Merrill Lynch with copies of any such documents a reasonable amount of
time prior to such proposed filing or use, as the case may be, and will not file
or use any such document to which Merrill Lynch or counsel for the Underwriters
shall object.

         (c) Delivery of Registration Statements. The Company has furnished or
will deliver to the Representatives and counsel for the Underwriters, without
charge, signed copies of the Registration Statement as originally filed and of
each amendment thereto (including exhibits filed therewith or incorporated by
reference therein and documents incorporated or deemed to be incorporated by
reference therein) and signed copies of all consents and certificates of
experts, and will also deliver to the Representatives, without charge, a
conformed copy of the Registration Statement as originally filed and of each
amendment thereto (without exhibits) for each of the Underwriters. The
Registration Statement and each amendment thereto furnished to the Underwriters
will be identical to any electronically transmitted copies thereof filed with
the Commission pursuant to EDGAR, except to the extent permitted by Regulation
S-T.

         (d) Delivery of Prospectuses. The Company will deliver to each
Underwriter, without charge, as many copies of each preliminary prospectus as
such Underwriter may reasonably request, and the Company hereby consents to the
use of such copies for purposes permitted by the 1933 Act. The Company will
furnish to each Underwriter, without charge, during the period when the
Prospectus is required to be delivered under the 1933 Act or the 1934 Act, such
number of copies of the Prospectus as such Underwriter may reasonably request.
The Prospectus and any amendments or supplements thereto furnished to the
Underwriters will be identical to any electronically transmitted copies thereof
filed with the Commission pursuant to EDGAR, except to the extent permitted by
Regulation S-T.

                                      D-13
<PAGE>   17

         (e) Continued Compliance with Securities Laws. The Company will comply
with the 1933 Act and the 1933 Act Regulations and the 1934 Act and the 1934 Act
Regulations so as to permit the completion of the distribution of the Securities
as contemplated in this Underwriting Agreement and in the Registration Statement
and the Prospectus. If at any time when the Prospectus is required by the 1933
Act or the 1934 Act to be delivered in connection with sales of the Securities,
any event shall occur or condition shall exist as a result of which it is
necessary, in the opinion of counsel for the Underwriters or for the Company, to
amend the Registration Statement in order that the Registration Statement will
not contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein
not misleading or to amend or supplement the Prospectus in order that the
Prospectus will not include an untrue statement of a material fact or omit to
state a material fact necessary in order to make the statements therein not
misleading in the light of the circumstances existing at the time it is
delivered to a purchaser, or if it shall be necessary, in the opinion of such
counsel, at any such time to amend the Registration Statement or amend or
supplement the Prospectus in order to comply with the requirements of the 1933
Act or the 1933 Act Regulations, the Company will promptly prepare and file with
the Commission, subject to Section 3(b), such amendment or supplement as may be
necessary to correct such statement or omission or to make the Registration
Statement or the Prospectus comply with such requirements, and the Company will
furnish to the Underwriters, without charge, such number of copies of such
amendment or supplement as the Underwriters may reasonably request.

         (f) Blue Sky Qualifications. The Company will use its best efforts, in
cooperation with the Underwriters, to qualify the Securities for offering and
sale under the applicable securities laws of such states and other jurisdictions
(domestic or foreign) as Merrill Lynch may designate and to maintain such
qualifications in effect for a period of not less than one year from the date
hereof; provided, however, that the Company shall not be obligated to file any
general consent to service of process or to qualify as a foreign corporation or
as a dealer in securities in any jurisdiction in which it is not so qualified or
to subject itself to taxation in respect of doing business in any jurisdiction
in which it is not otherwise so subject. In each jurisdiction in which the
Securities have been so qualified, the Company will file such statements and
reports as may be required by the laws of such jurisdiction to continue such
qualification in effect for a period of not less than one year from the date
hereof.

         (g) Earnings Statement. The Company will timely file such reports
pursuant to the 1934 Act as are necessary in order to make generally available
to its securityholders as soon as practicable an earnings statement for the
purposes of, and to provide the benefits contemplated by, the last paragraph of
Section 11(a) of the 1933 Act.

         (h) Use of Proceeds. The Company will use the net proceeds received by
it from the sale of the Securities in the manner specified in the Prospectus
under "Use of Proceeds".

         (i) Listing. The Company will use its best efforts to effect the
listing of the Securities prior to the Closing Time, on the New York Stock
Exchange.

         (j) Restriction on Sale of Securities. During a period of 90 days from
the date of the Prospectus, the Company will not, without the prior written
consent of Merrill Lynch, (i) directly or indirectly, offer, pledge, sell,
contract to sell, sell any option or contract to purchase, purchase

                                      D-14
<PAGE>   18

any option or contract to sell, grant any option, right or warrant to purchase
or otherwise transfer or dispose of any share of Common Stock or any securities
convertible into or exercisable or exchangeable for Common Stock or file any
registration statement under the 1933 Act with respect to any of the foregoing
or (ii) enter into any swap or any other agreement or any transaction that
transfers, in whole or in part, directly or indirectly, the economic consequence
of ownership of the Common Stock, whether any such swap or transaction described
in clause (i) or (ii) above is to be settled by delivery of Common Stock or such
other securities, in cash or otherwise. The foregoing sentence shall not apply
to (A) the Securities to be sold hereunder, (B) any shares of Common Stock
issued by the Company upon the exercise of an option or warrant or the
conversion of a security outstanding on the date hereof and referred to in the
Prospectus, (C) any shares of Common Stock issued or options to purchase Common
Stock granted pursuant to existing employee benefit plans of the Company
referred to in the Prospectus, (D) any shares of Common Stock issued pursuant to
any non-employee director stock plan or dividend reinvestment plan, or (E) a
number of shares of Common Stock not to exceed 253,125 to be issued to NMS
Liquidation, Inc., formerly known as Northwest Mortgage Services, Inc., a
Minnesota corporation ("Northwest"), pursuant to the Asset Purchase Agreement
dated as of March 2, 2000 by and between the Company and Northwest.

         (k) Reporting Requirements. The Company, during the period when the
Prospectus is required to be delivered under the 1933 Act or the 1934 Act, will
file all documents required to be filed with the Commission pursuant to the 1934
Act within the time periods required by the 1934 Act and the 1934 Act
Regulations.

         SECTION 4. Payment of Expenses.

         (a) Expenses. The Company will pay all expenses incident to the
performance of its obligations under this Underwriting Agreement, including (i)
the preparation, printing and filing of the Registration Statement (including
financial statements and exhibits) as originally filed and of each amendment
thereto, (ii) the preparation, printing and delivery to the Underwriters of this
Underwriting Agreement, any Agreement among Underwriters and such other
documents as may be required in connection with the offering, purchase, sale,
issuance or delivery of the Securities, (iii) the preparation, issuance and
delivery of certificates representing the Securities to the Underwriters,
including any transfer taxes and any stamp or other duties payable upon the
sale, issuance or delivery of the Securities to the Underwriters, (iv) the fees
and disbursements of the Company's counsel, accountants and other advisors or
agents (including transfer agents and registrars), (v) the qualification of the
Securities under state securities laws in accordance with the provisions of
Section 3(f) hereof, including filing fees and the reasonable fees and
disbursements of counsel for the Underwriters in connection therewith and in
connection with the preparation, printing and delivery of any Blue Sky survey in
connection with the offering of the Securities, and any amendment thereto, (vi)
the printing and delivery to the Underwriters of copies of each preliminary
prospectus, any Term Sheet, and the Prospectus and any amendments or supplements
thereto, (vii) the fees charged by nationally recognized statistical rating
organizations for the rating of the Securities, if applicable, (viii) the fees
and expenses incurred with respect to the listing of the Securities, (ix) the
filing fees incident to, and the reasonable fees and disbursements of counsel to
the Underwriters in connection with, the review, if any, by the National
Association of Securities Dealers, Inc. (the "NASD") of the terms of the sale of
the Securities, and (x) the fees and expenses of any Underwriter acting in the
capacity of a "qualified

                                      D-15
<PAGE>   19

independent underwriter" (as defined in Section 2(l) of Schedule E of the bylaws
of the NASD), if applicable.

         (b) Termination of Agreement. If this Underwriting Agreement is
terminated by the Representatives in accordance with the provisions of Section 5
or Section 9(a)(i) hereof, the Company shall reimburse the Underwriters for all
of their out-of-pocket expenses, including the reasonable fees and disbursements
of counsel for the Underwriters.

         SECTION 5. Conditions of Underwriters' Obligations. The obligations of
the Underwriters to purchase and pay for the Securities pursuant to this
Underwriting Agreement are subject to the accuracy of the representations and
warranties of the Company contained in Section 1 hereof or in certificates of
any officer of the Company or any of its subsidiaries delivered pursuant to the
provisions hereof, to the performance by the Company of its covenants and other
obligations hereunder, and to the following further conditions:

         (a) Effectiveness of Registration Statement. The Registration
Statement, including any Rule 462(b) Registration Statement, has become
effective under the 1933 Act and no stop order suspending the effectiveness of
the Registration Statement shall have been issued under the 1933 Act and no
proceedings for that purpose shall have been instituted or be pending or
threatened by the Commission, and any request on the part of the Commission for
additional information shall have been complied with to the reasonable
satisfaction of counsel to the Underwriters. A prospectus containing information
relating to the description of the Securities, the specific method of
distribution and similar matters shall have been filed with the Commission in
accordance with Rule 424(b)(1), (2), (3), (4) or (5), as applicable (or any
required post-effective amendment providing such information shall have been
filed and declared effective in accordance with the requirements of Rule 430A),
or, if the Company has elected to rely upon Rule 434 of the 1933 Act
Regulations, a Term Sheet including the Rule 434 Information shall have been
filed with the Commission in accordance with Rule 424(b)(7). Post-Effective
Amendment No. 1 to the Registration Statement shall have been filed with the
Commission in the form attached hereto as Exhibit D.

         (b) Opinion of Stradling Yocca Carlson & Rauth. At Closing Time, the
Representatives shall have received the favorable opinion, dated as of Closing
Time, of Stradling Yocca Carlson & Rauth, counsel for the Company, in form and
substance satisfactory to counsel for the Underwriters, together with signed or
reproduced copies of such letter for each of the other Underwriters, to the
effect set forth in Exhibit B-1 hereto and to such further effect as counsel to
the Underwriters may reasonably request.

         (c) Opinion of General Counsel of Company. At Closing Time, the
Representatives shall have received the favorable opinion, dated as of Closing
Time, of Peter Sadowski, General Counsel of the Company, in form and substance
satisfactory to counsel for the Underwriters, together with signed or reproduced
copies of such letter for each of the other Underwriters, to the effect set
forth in Exhibit B-2 hereto and to such further effect as counsel to the
Underwriters may reasonably request.

         (d) Opinion of Counsel for Underwriters. At Closing Time, the
Representatives shall have received the favorable opinion, dated as of Closing
Time, of LeBoeuf, Lamb, Greene

                                      D-16
<PAGE>   20

& MacRae, L.L.P., counsel for the Underwriters, in form and substance
satisfactory to the Underwriters, with respect to the issuance and sale of the
Securities, and other related matters as the Underwriters may reasonably
require, together with signed or reproduced copies of such letter for each of
the other Underwriters. The Company shall have furnished to such counsel such
documents as they request for the purpose of enabling them to pass upon such
matters. In giving such opinion, such counsel may rely, as to all matters
governed by the laws of jurisdictions other than the law of the State of New
York, the federal law of the United States and the General Corporation Law of
the State of Delaware, upon the opinions of counsel satisfactory to the
Representatives. Such counsel may also state that, insofar as such opinion
involves factual matters, they have relied, to the extent they deem proper, upon
certificates of officers of the Company and its subsidiaries and certificates of
public officials.

         (e) Officers' Certificate. At Closing Time, there shall not have been,
since the date hereof or since the respective dates as of which information is
given in the Prospectus, any material adverse change in the condition, financial
or otherwise, or in the earnings, business affairs or business prospects of the
Company and its subsidiaries considered as one enterprise, whether or not
arising in the ordinary course of business, and the Representatives shall have
received a certificate of the President or a Vice President of the Company and
of the chief financial officer or chief accounting officer of the Company, dated
as of Closing Time, to the effect that (i) there has been no such material
adverse change or any material adverse change or any development involving a
prospective material adverse change in the capital stock or in the long-term
debt of the Company or any of its subsidiaries, (ii) the representations and
warranties in Section 1(a) are true and correct with the same force and effect
as though expressly made at and as of the Closing Time, (iii) the Company has
complied with all agreements and satisfied all conditions on its part to be
performed or satisfied at or prior to the Closing Time, and (iv) no stop order
suspending the effectiveness of the Registration Statement has been issued and
no proceedings for that purpose have been instituted, are pending or, to the
best of such officer's knowledge, are threatened by the Commission.

         (f) Accountant's Comfort Letter. At the time of the execution of this
Underwriting Agreement, the Representatives shall have received from KPMG LLP a
letter dated such date, substantially in the form attached hereto as Exhibit C
together with signed or reproduced copies of such letter for each of the other
Underwriters, containing statements and information of the type ordinarily
included in accountants' "comfort letters" to underwriters with respect to the
financial statements and certain financial information contained in the
Registration Statement and the Prospectus.

         (g) Bring-down Comfort Letter. At Closing Time, the Representatives
shall have received from KPMG LLP a letter, dated as of Closing Time, to the
effect that they reaffirm the statements made in the letter furnished pursuant
to subsection (f) of this Section 5, except that the specified date referred to
shall be a date not more than three business days prior to the Closing Time.

         (h) Ratings. Since the time of execution of this Underwriting
Agreement, there shall not have occurred a downgrading in, or withdrawal of, the
rating assigned to any of the Company's securities or the Company's financial
strength or claims paying ability by any "nationally recognized statistical
rating organization" as such term is defined for purposes of

                                      D-17
<PAGE>   21

Rule 436(g)(2), and no such rating organization shall have publicly announced
that it has under surveillance or review a downgrading or withdrawal of its
rating of the Company's financial strength or claims paying ability.

         (i) Approval of Listing. At Closing Time, the Securities shall have
been approved for listing on the New York Stock Exchange, subject only to
official notice of issuance, if and as specified in this Underwriting Agreement.

         (j) No Objection. If the Registration Statement or an offering of
Securities has been filed with the NASD for review, the NASD shall not have
raised any objection with respect to the fairness and reasonableness of the
underwriting terms and arrangements.

         (k) Lock-up Agreements. At the date of this Underwriting Agreement, the
Representatives shall have received an agreement substantially in the form of
Exhibit A-1 hereto signed by the persons listed on Schedule C-1 hereto and an
agreement substantially in the form of Exhibit A-2 hereto signed by the persons
listed on Schedule C-2 hereto.

         (l) Over-Allotment Option. In the event that the Underwriters exercise
their option to purchase all or any portion of the Option Securities, the
representations and warranties of the Company contained herein and the
statements in any certificates furnished by the Company or any of its
subsidiaries hereunder shall be true and correct as of each Date of Delivery,
and, at the relevant Date of Delivery, the Representatives shall have received:

                  (1) A certificate, dated such Date of Delivery, of the
         President or a Vice President of the Company and the chief financial
         officer or chief accounting officer of the Company, confirming that the
         certificate delivered at the Closing Time pursuant to Section 5(e)
         hereof remains true and correct as of such Date of Delivery.

                  (2) The favorable opinion of Stradling Yocca Carlson & Rauth,
         counsel for the Company, in form and substance satisfactory to counsel
         for the Underwriters, dated such Date of Delivery, relating to the
         Option Securities and otherwise to the same effect as the opinion
         required by Section 5(b) hereof.

                  (3) The favorable opinion of Peter Sadowski, General Counsel
         of the Company, in form and substance satisfactory to counsel for the
         Underwriters, dated such Date of Delivery, relating to the Option
         Securities and otherwise to the same effect as the opinion required by
         Section 5(c) hereof.

                  (4) The favorable opinion of LeBoeuf, Lamb, Greene & MacRae,
         L.L.P., counsel for the Underwriters, dated such Date of Delivery,
         relating to the Option Securities and otherwise to the same effect as
         the opinion required by Section 5(d) hereof.

                  (5) A letter from KPMG LLP, in form and substance satisfactory
         to Merrill Lynch and dated such Date of Delivery, substantially in the
         same form and substance as the letter furnished to Merrill Lynch
         pursuant to Section 5(f) hereof, except that the "specified date" on
         the letter furnished pursuant to this paragraph shall be a date not
         more than three business days prior to such Date of Delivery.

                                      D-18
<PAGE>   22

         (m) Additional Documents. At Closing Time and at each Date of Delivery,
counsel for the Underwriters shall have been furnished with such documents and
opinions as they may require for the purpose of enabling them to pass upon the
issuance and sale of the Securities as herein contemplated, or in order to
evidence the accuracy of any of the representations or warranties, or the
fulfillment of any of the conditions, herein contained; and all proceedings
taken by the Company in connection with the issuance and sale of the Securities
as herein contemplated shall be reasonably satisfactory in form and substance to
the Representatives and counsel for the Underwriters.

         (n) Termination of Underwriting Agreement. If any condition specified
in this Section 5 shall not have been fulfilled when and as required to be
fulfilled, this Underwriting Agreement, (or, in the case of any condition to the
purchase of Option Securities, on a Date of Delivery after the Closing Time, the
obligations of the several Underwriters to purchase such Option Securities on
such Date of Delivery) may be terminated by the Representatives by notice to the
Company at any time at or prior to the Closing Time (or such Date of Delivery,
as applicable), and such termination shall be without liability of any party to
any other party except as provided in Section 4 and except that Sections 1, 6, 7
and 8 shall survive any such termination and remain in full force and effect.

         SECTION 6. Indemnification.

         (a) Indemnification of Underwriters. The Company agrees to indemnify
and hold harmless each Underwriter and each person, if any, who controls any
Underwriter within the meaning of Section 15 of the 1933 Act or Section 20 of
the 1934 Act as follows:

                  (1) against any and all loss, liability, claim, damage and
         expense whatsoever, as incurred, arising out of any untrue statement or
         alleged untrue statement of a material fact contained in the
         Registration Statement (or any amendment thereto), including the Rule
         430A Information and the Rule 434 Information deemed to be a part
         thereof, if applicable, or the omission or alleged omission therefrom
         of a material fact required to be stated therein or necessary to make
         the statements therein not misleading or arising out of any untrue
         statement or alleged untrue statement of a material fact included in
         any preliminary prospectus or the Prospectus (or any amendment or
         supplement thereto), or the omission or alleged omission therefrom of a
         material fact necessary in order to make the statements therein, in the
         light of the circumstances under which they were made, not misleading;

                  (2) against any and all loss, liability, claim, damage and
         expense whatsoever, as incurred, to the extent of the aggregate amount
         paid in settlement of any litigation, or any investigation or
         proceeding by any governmental agency or body, commenced or threatened,
         or any claim whatsoever based upon any such untrue statement or
         omission, or any such alleged untrue statement or omission; provided
         that (subject to Section 6(d) below) any such settlement is effected
         with the written consent of the Company; and

                  (3) against any and all expense whatsoever, as incurred
         (including the fees and disbursements of counsel chosen by Merrill
         Lynch), reasonably incurred in investigating, preparing or defending
         against any litigation, or any investigation or proceeding by any

                                      D-19
<PAGE>   23

         governmental agency or body, commenced or threatened, or any claim
         whatsoever based upon any such untrue statement or omission, or any
         such alleged untrue statement or omission, to the extent that any such
         expense is not paid under (1) or (2) above;

provided, however, that this indemnity agreement shall not apply to any loss,
liability, claim, damage or expense to the extent arising out of any untrue
statement or omission or alleged untrue statement or omission made in reliance
upon and in conformity with written information furnished to the Company by any
Underwriter through Merrill Lynch expressly for use in the Registration
Statement (or any amendment thereto), including the Rule 430A Information and
the Rule 434 Information deemed to be a part thereof, if applicable, or any
preliminary prospectus or the Prospectus (or any amendment or supplement
thereto).

         (b) Indemnification of Company, Directors and Officers. Each
Underwriter severally agrees to indemnify and hold harmless the Company, its
directors, each of its officers who signed the Registration Statement, and each
person, if any, who controls the Company within the meaning of Section 15 of the
1933 Act or Section 20 of the 1934 Act against any and all loss, liability,
claim, damage and expense described in the indemnity contained in subsection (a)
of this Section, as incurred, but only with respect to untrue statements or
omissions, or alleged untrue statements or omissions, made in the Registration
Statement (or any amendment thereto), including the Rule 430A Information and
the Rule 434 Information deemed to be a part thereof, if applicable, or any
preliminary prospectus or the Prospectus (or any amendment or supplement
thereto) in reliance upon and in conformity with written information furnished
to the Company by such Underwriter through Merrill Lynch expressly for use in
the Registration Statement (or any amendment thereto) or such preliminary
prospectus or the Prospectus (or any amendment or supplement thereto).

         (c) Actions against Parties; Notification. Each indemnified party shall
give notice as promptly as reasonably practicable to each indemnifying party of
any action commenced against it in respect of which indemnity may be sought
hereunder, but failure to so notify an indemnifying party shall not relieve such
indemnifying party from any liability hereunder to the extent it is not
materially prejudiced as a result thereof and in any event shall not relieve it
from any liability which it may have otherwise than on account of this indemnity
agreement. In the case of parties indemnified pursuant to Section 6(a) above,
counsel to the indemnified parties shall be selected by Merrill Lynch, and, in
the case of parties indemnified pursuant to Section 6(b) above, counsel to the
indemnified parties shall be selected by the Company. An indemnifying party may
participate at its own expense in the defense of any such action; provided,
however, that counsel to the indemnifying party shall not (except with the
consent of the indemnified party) also be counsel to the indemnified party. In
no event shall the indemnifying parties be liable for fees and expenses of more
than one counsel (in addition to any local counsel) separate from their own
counsel for all indemnified parties in connection with any one action or
separate but similar or related actions in the same jurisdiction arising out of
the same general allegations or circumstances. No indemnifying party shall,
without the prior written consent of the indemnified parties, settle or
compromise or consent to the entry of any judgment with respect to any
litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever in respect of which
indemnification or contribution could be sought under this Section 6 or Section
7 hereof (whether or not the indemnified parties are actual or potential parties
thereto), unless such

                                      D-20
<PAGE>   24

settlement, compromise or consent (i) includes an unconditional release of each
indemnified party from all liability arising out of such litigation,
investigation, proceeding or claim and (ii) does not include a statement as to
or an admission of fault, culpability or a failure to act, by or on behalf of
any indemnified party.

         (d) Settlement without Consent if Failure to Reimburse. If at any time
an indemnified party shall have requested an indemnifying party to reimburse the
indemnified party for fees and expenses of counsel, such indemnifying party
agrees that it shall be liable for any settlement of the nature contemplated by
Section 6(a)(2) effected without its written consent if (i) such settlement is
entered into more than 45 days after receipt by such indemnifying party of the
aforesaid request, (ii) such indemnifying party shall have received notice of
the terms of such settlement at least 30 days prior to such settlement being
entered into and (iii) such indemnifying party shall not have reimbursed such
indemnified party in accordance with such request prior to the date of such
settlement.

         SECTION 7. Contribution. If the indemnification provided for in Section
6 hereof is for any reason unavailable to or insufficient to hold harmless an
indemnified party in respect of any losses, liabilities, claims, damages or
expenses referred to therein, then each indemnifying party shall contribute to
the aggregate amount of such losses, liabilities, claims, damages and expenses
incurred by such indemnified party, as incurred, (i) in such proportion as is
appropriate to reflect the relative benefits received by the Company, on the one
hand, and the Underwriters, on the other hand, from the offering of the
Securities pursuant to this Underwriting Agreement or (ii) if the allocation
provided by clause (i) is not permitted by applicable law, in such proportion as
is appropriate to reflect not only the relative benefits referred to in clause
(i) above but also the relative fault of the Company, on the one hand, and the
Underwriters, on the other hand, in connection with the statements or omissions
which resulted in such losses, liabilities, claims, damages or expenses, as well
as any other relevant equitable considerations.

         The relative benefits received by the Company, on the one hand, and the
Underwriters, on the other hand, in connection with the offering of the
Securities pursuant to this Underwriting Agreement shall be deemed to be in the
same respective proportions as the total net proceeds from the offering of such
Securities (before deducting expenses) received by the Company and the total
underwriting discount received by the Underwriters, in each case as set forth on
the cover of the Prospectus, or, if Rule 434 is used, the corresponding location
on the Term Sheet bear to the aggregate initial public offering price of such
Securities as set forth on such cover.

         The relative fault of the Company, on the one hand, and the
Underwriters, on the other hand, shall be determined by reference to, among
other things, whether any such untrue or alleged untrue statement of a material
fact or omission or alleged omission to state a material fact relates to
information supplied by the Company or by the Underwriters and the parties'
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission.

         The Company and the Underwriters agree that it would not be just and
equitable if contribution pursuant to this Section 7 were determined by pro rata
allocation (even if the Underwriters were treated as one entity for such
purpose) or by any other method of allocation which does not take account of the
equitable considerations referred to above in this Section 7.

                                      D-21
<PAGE>   25

The aggregate amount of losses, liabilities, claims, damages and expenses
incurred by an indemnified party and referred to above in this Section 7 shall
be deemed to include any legal or other expenses reasonably incurred by such
indemnified party in investigating, preparing or defending against any
litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or any claim whatsoever based upon any such
untrue or alleged untrue statement or omission or alleged omission.

         Notwithstanding the provisions of this Section 7, no Underwriter shall
be required to contribute any amount in excess of the amount by which the total
price at which the Securities underwritten by it and distributed to the public
were offered to the public exceeds the amount of any damages which such
Underwriter has otherwise been required to pay by reason of any such untrue or
alleged untrue statement or omission or alleged omission.

         No person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the 1933 Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation.

         For purposes of this Section 7, each person, if any, who controls an
Underwriter within the meaning of Section 15 of the 1933 Act or Section 20 of
the 1934 Act shall have the same rights to contribution as such Underwriter, and
each director of the Company, each officer of the Company who signed the
Registration Statement, and each person, if any, who controls the Company within
the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall
have the same rights to contribution as the Company. The Underwriters'
respective obligations to contribute pursuant to this Section 7 are several in
proportion to the number of Initial Securities set forth opposite their
respective names on Schedule A, and not joint.

         SECTION 8. Representations, Warranties and Agreements to Survive
Delivery. All representations, warranties and agreements contained in this
Underwriting Agreement or in certificates of officers of the Company or any of
its subsidiaries submitted pursuant hereto or thereto shall remain operative and
in full force and effect, regardless of any investigation made by or on behalf
of any Underwriter or controlling person, or by or on behalf of the Company, and
shall survive delivery of and payment for the Securities.

         SECTION 9. Termination.

         (a) Termination; General. The Representatives may terminate this
Underwriting Agreement, by notice to the Company, at any time at or prior to the
Closing Time, if (i) there has been, since the time of execution of this
Underwriting Agreement or since the respective dates as of which information is
given in the Prospectus, any material adverse change in the condition, financial
or otherwise, or in the earnings, business affairs, management or business
prospects of the Company and its subsidiaries considered as one enterprise,
whether or not arising in the ordinary course of business, or (ii) there has
occurred any material adverse change in the financial markets in the United
States or any outbreak of hostilities or escalation thereof or other calamity or
crisis or any change or development involving a prospective change in national
or international political, financial or economic conditions, in each case the
effect of which is such as to make it, in the judgment of the Representatives,
impracticable to market the Securities or to enforce contracts for the sale of
the Securities, or (iii) trading in any securities of the Company

                                      D-22
<PAGE>   26

has been suspended or materially limited by the Commission or the New York Stock
Exchange, or if trading generally on the New York Stock Exchange or the American
Stock Exchange or in the Nasdaq National Market, has been suspended or
materially limited, or minimum or maximum prices for trading have been fixed, or
maximum ranges for prices have been required, by either of said exchanges or by
such system or by order of the Commission, the NASD or any other governmental
authority, or (iv) a banking moratorium has been declared by either Federal or
New York authorities.

         (b) Liabilities. If this Underwriting Agreement is terminated pursuant
to this Section 9, such termination shall be without liability of any party to
any other party except as provided in Section 4 hereof, and provided further
that Sections 1, 6, 7 and 8 shall survive such termination and remain in full
force and effect.

         SECTION 10. Default by One or More of the Underwriters. If one or more
of the Underwriters shall fail at the Closing Time or the relevant Date of
Delivery, as the case may be, to purchase the Securities which it or they are
obligated to purchase under this Underwriting Agreement (the "Defaulted
Securities"), then the Representatives shall have the right, within 24 hours
thereafter, to make arrangements for one or more of the non-defaulting
Underwriters, or any other underwriters, to purchase all, but not less than all,
of the Defaulted Securities in such amounts as may be agreed upon and upon the
terms herein set forth; if, however, the Representatives shall not have
completed such arrangements within such 24-hour period, then:

                  (a) if the number of Defaulted Securities does not exceed 10%
         of the number of Securities to be purchased on such date pursuant to
         this Underwriting Agreement, the non-defaulting Underwriters shall be
         obligated, severally and not jointly, to purchase the full amount
         thereof in the proportions that their respective underwriting
         obligations herein bear to the underwriting obligations of all
         non-defaulting Underwriters, or

                  (b) if the number of Defaulted Securities exceeds 10% of the
         number of Securities to be purchased on such date pursuant to this
         Underwriting Agreement, such Underwriting Agreement (or, with respect
         to the Underwriters' exercise of any applicable over-allotment option
         for the purchase of Option Securities on a Date of Delivery after the
         Closing Time, the obligations of the Underwriters to purchase, and the
         Company to sell, such Option Securities on such Date of Delivery) shall
         terminate without liability on the part of any non-defaulting
         Underwriter.

         No action taken pursuant to this Section 10 shall relieve any
defaulting Underwriter from liability in respect of its default.

         In the event of any such default which does not result in (i) a
termination of this Underwriting Agreement or (ii) in the case of a Date of
Delivery after the Closing Time, a termination of the obligations of the
Underwriters and the Company with respect to the related Option Securities, as
the case may be, either the Representatives or the Company shall have the right
to postpone the Closing Time or the relevant Date of Delivery, as the case may
be, for a period not exceeding seven days in order to effect any required
changes in the Registration Statement or the Prospectus or in any other
documents or arrangements.

                                      D-23
<PAGE>   27

         SECTION 11. Notices. All notices and other communications hereunder
shall be in writing and shall be deemed to have been duly given if mailed or
transmitted by any standard form of telecommunication. Notices to the
Underwriters shall be directed to Merrill Lynch at World Financial Center, North
Tower, New York, New York 10281-1201, attention of Syndicate Department; and
notices to the Company shall be directed to it at 4050 Calle Real, Suite 200,
Santa Barbara, California 93110, attention of General Counsel.

         SECTION 12. Parties. This Underwriting Agreement shall each inure to
the benefit of and be binding upon the Company, Merrill Lynch and any other
Underwriters and their respective successors. Nothing expressed or mentioned in
this Underwriting Agreement is intended or shall be construed to give any
person, firm or corporation, other than the Underwriters and the Company and
their respective successors and the controlling persons and officers and
directors referred to in Sections 6 and 7 and their heirs and legal
representatives, any legal or equitable right, remedy or claim under or in
respect of this Underwriting Agreement or any provision herein or therein
contained. This Underwriting Agreement and all conditions and provisions hereof
and thereof are intended to be for the sole and exclusive benefit of the parties
hereto and thereto and their respective successors, and said controlling persons
and officers and directors and their heirs and legal representatives, and for
the benefit of no other person, firm or corporation. No purchaser of Securities
from any Underwriter shall be deemed to be a successor by reason merely of such
purchase.

         SECTION 13. Governing Law and Time. This Underwriting Agreement shall
be governed by and construed and enforced in accordance with the laws of the
State of New York. Except as otherwise set forth herein, specified times of day
refer to New York City Time.

         SECTION 14. Effect of Headings. The Article and Section headings herein
and the Table of Contents are for convenience only and shall not affect the
construction hereof.

                                      D-24
<PAGE>   28

         If the foregoing is in accordance with your understanding of our
agreement, please sign and return to the Company a counterpart hereof, whereupon
this Underwriting Agreement, along with all counterparts, will become a binding
agreement between Merrill Lynch and the Company in accordance with its terms.

                                        Very truly yours,

                                        FIDELITY NATIONAL FINANCIAL, INC.

                                        By: /s/    Alan L. Stinson
                                            -----------------------------
                                            Name:  Alan L. Stinson
                                            Title: Executive Vice President and
                                                   Chief Executive Officer

CONFIRMED AND ACCEPTED,
as of the date first above written:

MERRILL LYNCH & CO.
MERRILL LYNCH, PIERCE, FENNER & SMITH
            INCORPORATED
BEAR, STEARNS & CO. INC.
LEHMAN BROTHERS INC.
U.S. BANCORP PIPER JAFFRAY INC.

By: MERRILL LYNCH, PIERCE, FENNER & SMITH
                INCORPORATED

By: /s/ Joseph E. (Jeff) Consolino
    ----------------------------------
    Authorized Signatory

For themselves and as Representatives of the other Underwriters named in
Schedule A hereto.

                                      D-25
<PAGE>   29

                                   SCHEDULE A

<TABLE>
<CAPTION>
                                                                    Number of
                                                                     Initial
                      Name of Underwriter                           Securities
                      -------------------                           ----------
<S>                                                                 <C>

Merrill Lynch, Pierce, Fenner & Smith
            Incorporated........................................    2,371,750
Bear, Stearns & Co, Inc.........................................    1,467,750
Lehman Brothers Inc.............................................    1,467,750
U.S. Bancorp Piper Jaffray Inc..................................    1,467,750
Fox-Pitt, Kelton Inc. ..........................................       75,000
Janney Montgomery Scott LLC ....................................       75,000
Roth Capital Partners, Inc. ....................................       75,000
                                                                    ---------
Total...........................................................    7,000,000
                                                                    ---------
</TABLE>

<PAGE>   30

                                   SCHEDULE B

                        FIDELITY NATIONAL FINANCIAL, INC.

                        7,000,000 Shares of Common Stock
                          (Par Value $.0001 Per Share)

         1. The initial public offering price per share for the Securities,
determined as provided in Section 2, shall be $33.50.

         2. The purchase price per share for the Securities to be paid by the
several Underwriters shall be $31.90, being an amount equal to the initial
public offering price set forth above less $1.60 per share; provided that the
purchase price per share for any Option Securities purchased upon the exercise
of the over-allotment option described in Section 2(b) shall be reduced by the
amount per share equal to any dividends or distributions declared by the Company
and payable on the Initial Securities but not payable on the Option Securities.

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