Document:

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                                                                 EXHIBIT 10.33

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (the "Agreement") is effective as of April
30, 2002 (the "Effective Date"), by and between AdvancePCS (the "Company") and
Yon Y. Jorden (the "Employee"). For purposes of this Agreement, the Company and
its affiliates shall collectively be referred to as the "Companies".

         WHEREAS, the Company and Employee desire to enter into this Agreement
pursuant to which the Company will employ Employee in the capacity of Executive
Vice President, Chief Financial Officer for the period and on the terms and
conditions set forth herein;

         NOW, THEREFORE, in consideration of the promises and mutual covenants
and agreements herein contained, the parties hereto hereby agree as follows:

         1. EMPLOYMENT AND DUTIES. The Company hereby employs Employee, and
Employee hereby accepts such employment, in the capacity of Executive Vice
President, Chief Financial Officer of the Company, or other comparable position
and title, with such duties, functions, responsibilities and authority as are
typically consistent with such position and title and in accordance with the
terms and conditions hereinafter set forth. During the term of this Agreement,
Employee agrees that this position shall be her full-time employment; she shall
comply with the covenants of this Agreement; she shall devote her best efforts
and all of her business time, attention and skills to the successful
continuation of the business of the Company.

         2. TERM. The employment of Employee shall commence on the Effective
Date and shall continue through the third anniversary thereof and for
consecutive two-year periods thereafter; provided, that either party may deliver
notice of non-renewal at least 90 days prior to the third anniversary date or
the two-year incremental anniversary date, as the case may be, and the Agreement
shall terminate upon such upcoming anniversary date (the "Term").

         3. COMPENSATION. In consideration of the services to be rendered by
Employee to the Company hereunder, the Company hereby agrees to pay or otherwise
provide Employee the following compensation and benefits, it being understood
that the Company shall have the right to deduct therefrom all taxes which may be
required to be deducted or withheld therefrom under any provision of applicable
law (including but not limited to Social Security payments, income tax
withholding and other required deductions now in effect or which may become
effective by law any time during the Term):

                  (a) SALARY. Employee shall receive an annual salary of Four
Hundred Twenty-Five Thousand Dollars ($425,000) with such increases thereto as
may be determined and paid by the Company ("Base Salary") in accordance with the
Company's salary payment practices and policies in effect from time to time for
senior managers of the Company.

                  (b) ADDITIONAL COMPENSATION. In addition to the Base Salary,
Employee shall be entitled to receive the compensation set forth in Exhibit A
attached hereto.

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                  (c) BENEFIT PLANS. Employee shall be entitled to participate
in any health, accident, disability and life insurance programs, and any other
fringe benefit program, which the Company may adopt and implement for the
benefit of the Company's employees.

                  (d) EXPENSES. Employee shall be entitled to receive
reimbursement for all reasonable expenses incurred by Employee in connection
with the fulfillment of Employee's duties hereunder; provided, however, that
Employee has complied with all policies and procedures relating to the
reimbursement of such expenses as shall, from time to time, be established by
the Company.

                  (e) PAID TIME OFF. During the Term of employment, Employee
shall be permitted to take time off with such frequency and of such duration as
are consistent with the executive paid time off policies of the Company in
effect on the date of this Agreement so long as the absence of Employee does not
interfere in any material respect with the performance by Employee of Employee's
duties hereunder.

         4.       TERMINATION.

                  (a) DEATH OR DISABILITY. This Agreement shall terminate
automatically upon the Employee's death. If the Company determines in good faith
that the Disability of the Employee has occurred (pursuant to the definition of
"Disability" set forth below), it may give to the Employee written notice of its
intention to terminate the Employee's employment. In such event, the Employee's
employment with the Company shall terminate effective on the 90th day after
receipt of such notice by the Employee (the "Disability Effective Date"),
provided that, within the 30 days after such receipt, the Employee could not
have (as determined by the process set forth below) and shall not have returned
to the performance of the essential functions of the Employee's position with or
without reasonable accommodations (as defined in Title I of the American's with
Disabilities Act) ("Reasonable Accommodations"). For purposes of this Agreement,
"Disability" means Employee's incapacity due to physical or mental illness,
which is determined by a physician selected by the Company or its insurers and
acceptable to the Employee or the Employee's legal representative (such
agreement as to acceptability not to be withheld unreasonably), to prevent
Employee's substantial and continuous performance of the essential functions of
her position with or without Reasonable Accommodations for a period of more than
12 weeks after its commencement or for an aggregate of sixteen weeks in any
12-month period.

                  (b) CAUSE. The Company may terminate the Employee's employment
for "Cause." For purposes of this Agreement, "Cause" means:

                           (i) a significant act or acts of personal dishonesty
         taken by the Employee at the expense of the Company, or

                           (ii) a material violation by the Employee of the
         Employee's obligations under this Agreement which Employee fails to
         cure within a reasonable period of time after receiving notice thereof,
         or

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                           (iii) the indictment of the Employee of a felony, or

                           (iv) failure of the employee to substantially perform
         her duties and responsibilities which Employee fails to cure within a
         reasonable period of time after receiving notice thereof; or

                           (v) breach of Employee's representation set forth in
         Section 11 of this Agreement.

                  (c) WITHOUT CAUSE. The Company may, at its option, terminate
Employee's employment without Cause at any time upon written notice to Employee.

                  (d) BY EMPLOYEE FOR GOOD REASON. During the Term of
Employment, the Employee's employment hereunder may be terminated by the
Employee for Good Reason upon thirty (30) days prior written notice by Employee
to the Company. For purposes of this Agreement, "Good Reason" shall mean,
without the Employee's consent, any of the following conditions that remain
uncured for a reasonable period of time after notice to the Company by Employee:

                           (i) the assignment to the Employee of any duties
         inconsistent in any material respect with the Employee's position,
         authority, duties or responsibilities as contemplated by Section 1 of
         this Agreement, excluding for this Section 4(d) any isolated and
         inadvertent action not taken in bad faith and which is remedied by the
         Company within ten (10) days after receipt of a notice thereof given by
         the Employee;

                           (ii) a material diminution in the Employee's
         reporting relationship such that she would not report directly to the
         Company's Chief Executive Officer or Chairman of the Board;

                           (iii) any failure by the Company to comply with any
         of the provisions of Section 3 of this Agreement other than an isolated
         and inadvertent failure not taken in bad faith and which is remedied by
         the Company within ten (10) days after receipt of notice thereof given
         by the Employee; or

                           (iv) any purported termination by the Company of the
         Employee's employment otherwise than as expressly permitted by this
         Agreement.

                  (e) NOTICE OF TERMINATION. Any termination by the Company or
Employee shall be communicated by Notice of Termination to the Employee hereto
given in accordance with Section 12 of this Agreement. For purposes of this
Agreement, a "Notice of Termination" means a written notice which

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                           (i) indicates the specific termination provision in
         this Agreement relied upon,

                           (ii) sets forth in reasonable detail the facts and
         circumstances claimed to provide a basis for termination of the
         Employee's employment under the provision so indicated, and

                           (iii) if the Date of Termination (as defined below)
         is other than the date of receipt of such notice, specifies the
         termination date.

         The failure by the Employee or Company to set forth in the Notice of
         Termination any fact or circumstance which contributes to a showing of
         the basis for termination shall not waive any right of such party
         hereunder or preclude such party from asserting such fact or
         circumstance in enforcing his or its rights hereunder.

                  (f) DATE OF TERMINATION. "Date of Termination" means the date
of receipt of the Notice of Termination or any later date specified therein, as
the case may be; provided, however, that

                           (i) if the Employee's employment is terminated by the
         Company other than for Cause or Disability, the Date of Termination
         shall be the date on which the Company notifies the Employee of such
         termination, and

                           (ii) if the Employee's employment is terminated by
         reason of death or Disability, the Date of Termination shall be the
         date of death of the Employee or the Disability Effective Date, as the
         case may be.

         5.       OBLIGATIONS OF THE COMPANY UPON TERMINATION.

                  (a) DEATH. If the Employee's employment is terminated by
reason of the Employee's death, this Agreement shall terminate without further
obligations to the Employee's legal representatives under this Agreement, other
than those obligations accrued or earned and vested (if applicable) by the
Employee as of the Date of Termination, including, for this purpose the
obligation to pay the Employee

                           (i) the Base Salary through the Date of Termination
         at the rate in effect on the Date of Termination (the "Base Salary"),

                           (ii) the amount equal to the target bonus for the
         fiscal year in which the Date of Termination occurs multiplied by the
         fraction, the numerator of which will be the number of months of
         Employee's employment during such fiscal year and the denominator of
         which will be 12, and

                           (iii) any compensation previously deferred by the
         Employee (together with accrued interest, if any, thereon) and not yet
         paid by the Company and any accrued

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         vacation pay not yet paid by the Company (such amounts specified in
         clauses (i), (ii) and (iii) are hereinafter referred to as "Accrued
         Obligations").

                  All such Accrued Obligations shall be paid to the Employee's
estate or beneficiary, as applicable, in a lump sum in cash within 30 days of
the Date of Termination.

                  (b) DISABILITY. If the Employee's employment is terminated by
reason of the Employee's Disability, this Agreement shall terminate without
further obligations to the Employee, other than those obligations accrued or
earned and vested (if applicable) by the Employee as of the Date of Termination,
including for this purpose, all Accrued Obligations. All such Accrued
Obligations shall be paid to the Employee in a lump sum in cash within 30 days
of the Date of Termination. Employee shall be entitled after the Disability
Effective Date to receive disability benefits provided by the Company to
disabled employees or their families in accordance with such plans, programs,
practices and policies relating to disability, if any, in effect on the
Disability Effective Date.

                  (c) CAUSE. If the Employee's employment shall be terminated
for Cause, the Company's obligations to the Employee shall terminate other than
the obligation to pay to the Employee the portion of Base Salary earned and the
balance of paid time off earned by Employee through the Date of Termination plus
the amount of any compensation previously deferred by the Employee, if any,
consistent with Company policy.

                  (d) GOOD REASON; OTHER THAN FOR CAUSE, DISABILITY OR DEATH.

                           (i) If the Company shall terminate the Employee's
                  employment (other than for Cause or Disability and except if
                  the Employee's employment is terminated as a result of her
                  death) or if, during the Term, the Employee shall terminate
                  her employment for Good Reason, the Company shall continue in
                  accordance with the Company's normal payroll procedures to pay
                  Employee: (A) Base Salary for a period of twelve (12) months
                  following the Date of Termination and (B) an amount equal to
                  the target bonus for the fiscal year in which the Date of
                  Termination occurs ("Target Bonus").

                           (ii) If the Company shall consummate a Change of
                  Control transaction (as defined below) which results in the
                  termination of Employee's employment with the Company within
                  one-year prior to or one-year following the consummation of
                  the Change of Control transaction, the Company shall continue
                  in accordance with the Company's normal payroll procedures to
                  pay Employee: (A) Base Salary for a period of two years
                  following the Date of Termination and (B) in each such year,
                  an amount equal to the Target Bonus.

                           (iii) Subject to any limitations imposed by law, the
                  terms of the Company's plans, programs and policies, or the
                  terms of any option agreements, during the one-year or
                  two-year period following termination (as defined in the
                  preceding clauses (i) and (ii) of this Section 5(d)), the
                  Company shall continue

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                  benefits for Employee and her family at least equal to those
                  which would have been provided in accordance with Section 3(c)
                  of this Agreement if the Employee's employment had not been
                  terminated.

                           (iv) "CHANGE OF CONTROL" shall mean (A) a sale of a
                  majority of the Common Stock of the Company, (B) a sale of
                  substantially all of the assets of the Company, (C) a merger
                  in which the Company is not to be the surviving corporation;
                  provided, however, that any transaction between the Company
                  and any affiliate of the Company shall not be deemed to
                  constitute a Change of Control under this Section 5(d), or (D)
                  individuals who constitute the Board of Directors of the
                  Company on any day (the "INCUMBENT BOARD") cease for any
                  reason other than their deaths or the expiration of the Class
                  B-1 and Class B-2 board seats (as defined in the Company's
                  Amended and Restated Certificate of Incorporation) to
                  constitute at least a majority of the Incumbent Board on the
                  following day (which day shall be the day on which a "change
                  of control" shall be deemed to have occurred), provided that
                  any individual becoming a director subsequent to the date of
                  this Agreement whose election or nomination for election was
                  approved by a vote of not less than two-thirds of the
                  Incumbent Board (excluding the Class B-1 and Class B-2
                  Directors) shall be considered, for purposes of this section,
                  as though such person were a member of the Incumbent Board.

                           (v) In the event that the benefits provided for in
                  this Agreement or otherwise payable to the Employee constitute
                  "parachute payments" within the meaning of Section 280G of the
                  Internal Revenue Code ("the Code") and will be subject to the
                  excise tax imposed by Section 4999 of the Code, the Employee
                  shall receive a payment from the Company sufficient to pay
                  such excise tax, plus an additional payment from the Company
                  sufficient to pay the excise tax and federal and state income
                  and employment taxes arising from the payments made by the
                  Company to Employee pursuant to this sentence. Unless the
                  Company and the Employee otherwise agree in writing, the
                  determination of Employee's excise tax liability and the
                  amount required to be paid under this Section 5(d)(v) shall be
                  made in writing by the independent auditors who are primarily
                  used by the Company immediately prior to the Change of Control
                  (the "Accountants"). For purposed of making the calculations
                  required by this Section 5(d)(v), the Accountants may make
                  reasonable assumptions and approximations concerning
                  applicable taxes and may rely on reasonable, good faith
                  interpretations concerning the application of Sections 280G
                  and 4999 of the Code. The Company and the Employee shall
                  furnish to the Accountants such information and documents as
                  the Accountants may reasonably request in order to make a
                  determination under this Section. The Company shall bear all
                  costs the Accountants reasonably may incur in connection with
                  any calculations contemplated by this Section 5(d)(v).

                  (e) STOCK OPTIONS. Except as otherwise provided herein,
Employee shall have ninety (90) days from the Date of Termination to exercise
any vested but unexercised options previously granted to Employee to purchase
shares of the Common Stock of the Company. Any

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such exercise will be in accordance with the terms and conditions of the
applicable stock option plan and stock option agreement.

         6. CONFIDENTIALITY. Employee acknowledges that, during the course of
Employee's performance of services for the Company, Employee will acquire
knowledge with respect to the business operations, including, by way of
illustration, the Companies' existing and contemplated services, products, trade
secrets, ideas, know how, research and development, formulas, models,
compilations, processes, computer code generated or developed, software or
programs and related documentation, business and financial methods or practices,
plans, pricing, operating margins, marketing, merchandising and selling
techniques and information, customer lists, details of customer agreements,
sources of supply, employee compensation and benefit plans, patient records and
data, and other confidential information relating to the Companies' policy,
operating strategy, expansion strategy or business strategy (all of such
information herein referred to as the "Confidential Information"); provided,
that the term Confidential Information shall not include information which is
generally known to the public or the industry other than as a result of
Employee's breach. Employee shall not use, in any way, or disclose any of the
Confidential Information, directly or indirectly, either during the term of
Employee's employment or at anytime thereafter, except as required in the course
of Employee's employment. Employee acknowledges that all computer code,
programs, files, records, documents, information, data and similar items and
documentation relating to the business of the Companies (including all copies
thereof), whether prepared by Employee or otherwise, are the exclusive property
of the Companies and, upon termination of Employee's employment with the Company
(for whatever reason), Employee shall not take, but shall leave with the
Company, all such computer code, programs, files, records, documents,
information, data and similar items and documentation relating to the business
of the Companies (including all copies thereof). The obligations of this Section
6 are continuous and shall survive the termination of Employee's employment with
the Company.

         7. RESTRICTIONS ON COMPETITIVE EMPLOYMENT. During the term of
Employee's employment and for the twelve-month period following termination of
Employee's employment, or such longer period as the Company shall make payments
to Employee under Section 5(d) of this Agreement (the "RESTRICTED PERIOD"),
Employee will not, become engaged in, render services to, permit Employee's name
to be used in connection with, own, manage, operate, control, be employed by,
participate in, consult with, or be connected in any manner, whether as an
officer, director, employee, agent, consultant, stockholder (other than as the
holder of less than 2% of the aggregate outstanding shares of a class of equity
securities publicly traded on a national securities exchange or quotation
system) or other capacity with the ownership, management, operation or control
of, any business or enterprise substantially engaged or about to become engaged
substantially in the Business of the Companies. The Business of the Companies
includes, but is not limited to, all those products and services that are
presently or hereafter marketed by the Companies that are significant lines of
business for the Companies, or that are in the development stage at the time of
termination of Employee's employment and are actually marketed by the Companies
and/or their affiliates thereafter, as well as, the following businesses: (i)
the pharmacy benefit management business; (ii) formulary management and rebate
administration services; (iii) the distribution of specialty pharmaceuticals;
(iv) disease state

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management services; (v) the prescription discount card business; (vi) medical
or prescription claim informatics business; and (vii) services to or on behalf
of any pharmaceutical or biotech manufacturer that relate to the foregoing
clauses (i) through (vi). These restrictions do not preclude Employee from
seeking employment in the health care industry outside the narrow lines
described above. In the event this Agreement expires and is neither renewed nor
replaced, and Employee's employment terminates when no employment agreement is
in effect, then Employee's obligations under this Section 7 shall continue, at
the Company's option, for up to one year provided that the Company shall
continue to cause Employee to receive the amounts specified in Section 5(d) of
this Agreement.

         8. NONINTERFERENCE. Employee agrees that during the term of Employee's
employment and for the twelve month period following the termination of
Employee's employment by the Company, or such longer period as the Company shall
make payments to Employee under Section 5(d) of this Agreement, Employee shall
not, directly or indirectly, whether as principal, agent, officer, employee,
investor, consultant, stockholder, or otherwise, alone or in association with
any other person:

                  (a) Induce or attempt to influence, directly or indirectly,
any employee of the Companies to terminate his employment with the Companies,

                  (b) Disparage the good name or reputation of the Companies or
business of the Companies or engage in any conduct that brings the Companies or
the Companies' business into public ridicule or disrepute; or

                  (c) Solicit, induce or encourage any customer, prospective
customer, consultant, independent contractor or supplier of the Companies for
the purpose of offering products or services that, directly or indirectly,
compete or interfere with the Business of the Companies. For purposes of this
section, "prospective customer" shall mean any party who has had contact with
the Companies within the six-month period immediately preceding termination of
employment hereunder.

         9. INVENTIONS AND PATENTS. Employee agrees that all inventions, ideas,
innovations, improvements or discoveries relating to the Business of the
Companies or the Companies' method of conducting business (including new
contributions, improvements, ideas and discoveries, whether patentable or
copyrightable or not) conceived or made by Employee during Employee's employment
with the Company shall be, and hereby are, assigned to the Company. Employee
will promptly disclose such inventions, ideas, innovations or improvements to
Employee's supervisor or Chief Executive Officer of the Company and perform all
actions reasonably requested by Employee's supervisor or Chief Executive Officer
to establish and confirm such ownership. The expense of securing any such
patents shall be borne by the Company.

         10. INDEMNIFICATION. The Company shall maintain, for the benefit of the
Employee, director and officer liability insurance in form at least as
comprehensive as, and in an amount that is at least equal to, that maintained by
the Company on the Effective Date. In

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addition, the Employee shall be indemnified by the Company against liability as
an officer and director of the Company and any subsidiary or affiliate of the
Company to the maximum extent permitted by applicable law. The Employee's rights
under this Section 10 shall continue so long as he may be subject to such
liability, whether or not this Agreement may have terminated prior thereto.

         11. NO CONFLICTS. Employee represents to the Company that Employee has
neither entered into nor is bound by any agreement or obligation, whether
written or verbal, direct or indirect, that prohibits or impedes Employee's
ability to perform Employee's obligations hereunder, including without
limitation any agreement not to compete or agreement to solicit health plan
payors.

         12. NOTICES. Any notice or other communication required or permitted to
be given hereunder shall be in writing and deemed to have been given when
delivered in person or when dispatched by telegram or electronic facsimile
transfer (confirmed in writing by overnight mail or certified mail, return
receipt requested, postage prepaid, simultaneously dispatched) to the addressees
at the addresses specified below.

         IF TO EMPLOYEE:         1789 Fence Row Drive
                                 Fairfield, Connecticut 06430

         IF TO THE COMPANY:      AdvancePCS
                                 5215 North O'Connor Blvd., Suite 1600
                                 Irving, Texas 75039
                                 Attention: Chief Executive Officer
                                 Phone No.: (469) 420-6000
                                 Fax No.: (469) 420-6109

or to such other address or fax number as either party may from time to time
designate in writing to the other.

         13. ARBITRATION. Any dispute or controversy between the Company and the
Employee, whether arising out of or relating to this Agreement, the breach of
this Agreement, or otherwise, shall be settled by arbitration administered by
the American Arbitration Association ("AAA") in accordance with its Commercial
Arbitration Rules then in effect and judgment on the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof. Any
arbitration shall be held before a single arbitrator who shall be selected by
the mutual agreement of the Company and the Employee, unless the parties are
unable to agree to an arbitrator, in which case, the arbitrator will be selected
under the procedures of the AAA. The arbitrator shall have the authority to
award any remedy or relief that a court of competent jurisdiction could order or
grant, including, without limitation, the issuance of an injunction. However,
either party may, without inconsistency with this arbitration provision, apply
to any court having jurisdiction over such dispute or controversy and seek
interim provisional, injunctive or other equitable relief until the arbitration
award is rendered or the controversy is otherwise resolved. Except as necessary
in

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court proceedings to enforce this arbitration provision or an award rendered
hereunder, or to obtain interim relief, neither a party nor an arbitrator may
disclose the existence, content or results of any arbitration hereunder without
the prior written consent of the Company and the Employee. The Company and the
Employee acknowledge that this Agreement evidences a transaction involving
interstate commerce. Notwithstanding any choice of law provision included in
this Agreement, the United States Federal Arbitration Act shall govern the
interpretation and enforcement of this arbitration provision. The arbitration
proceeding shall be conducted in Dallas County, Texas or such other location to
which the parties may agree. The Company shall pay the costs of any arbitrator
appointed hereunder.

         14. REPRESENTATIONS.

                  (a) The Company represents and warrants that (i) the execution
         of this Agreement has been duly authorized by the Company, (ii) the
         execution, delivery and performance of this Agreement by the Company
         does not and will not violate any law, regulation, order, judgment or
         decree or any agreement, plan or corporate governance document of the
         Company and (iii) upon the execution and delivery of this Agreement by
         the Employee, this Agreement shall be the valid and binding obligation
         of the Company, enforceable in accordance with its terms, except to the
         extent enforceability may be limited by applicable bankruptcy,
         insolvency or similar laws affecting the enforcement of creditors'
         rights generally and by the effect of general principles of equity
         (regardless of whether enforceability is considered in a proceeding in
         equity or at law).

                  (b) The Employee represents and warrants to the Company that
         (i) the execution, delivery and performance of this Agreement by the
         Employee does not and will not violate any law, regulation, order
         judgment or decree or any agreement to which the Employee is a party or
         by which he is bound, (ii) the Employee is not a party to or bound by
         any employment agreement, noncompetition agreement or confidentiality
         agreement with any other person or entity that would interfere with
         this Agreement or his performance of services hereunder, and (iii) upon
         the execution and delivery of this Agreement by the Company, this
         Agreement shall be the valid and binding obligation of the Employee,
         enforceable in accordance with its terms, except to the extent
         enforceability may be limited by applicable bankruptcy, insolvency or
         similar laws affecting the enforcement of creditors' rights generally
         and by the effect of general principles of equity (regardless of
         whether enforceability is considered in a proceeding in equity or at
         law).

         15. SURVIVAL. No termination of Employee's employment (for whatever
reason) shall reduce or terminate Employee's covenants and agreements in
Sections 6, 7, 8 and 9 hereof and the Company's obligations in Section 5 and 10.

         16. PAYMENT OBLIGATIONS. Except as provided in this Section 16, the
Company's obligations to pay the Employee the compensation and other benefits as
provided in this Agreement shall be absolute and unconditional and shall not be
affected by circumstances, including without limitation, any set-off,
counterclaim, recoupment, defense or other right which the Company may have
against the Employee. All amounts payable by the Company hereunder

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shall be paid without notice or demand. The foregoing notwithstanding, the
Company's obligations to pay Employee the compensation and benefits set forth in
Section 5(d) hereof shall cease in the event (i) Employee initiates formal
adversarial proceedings against the Company or (ii) the Company seeks injunctive
relief for a breach of Section 7 hereof.

         17. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement
between the parties hereto relating to the subject matter hereof, and supersedes
all prior agreements and understandings, whether oral or written, with respect
to the same. No modification, alteration, amendment or recision of or supplement
to this Agreement shall be valid or effective unless the same is in writing and
signed by the parties hereto.

         18. GOVERNING LAW. This Agreement and the rights and duties of the
parties hereunder shall be governed by, construed under and enforced in
accordance with the laws of the State of Texas.

         19. ASSIGNMENT. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, personal
representatives, successors and permitted assigns. The rights, duties and
obligations under this Agreement are assignable by the Company to a successor of
all or substantially all of the business or assets of the Company. The rights,
duties and obligations of Employee under this Agreement shall not be assignable.

         20. SEVERABILITY. Whenever possible, each provision of this Agreement
will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid, illegal or
unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability will not affect
any other provision in any other jurisdiction, but this Agreement will be
reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provision had never been contained herein except that
any court having jurisdiction shall have the power to reduce the duration, area
or scope of such invalid, illegal or unenforceable provision and, in its reduced
form, it shall be enforceable. It is the intent of the parties hereto that the
provisions hereof be enforceable to the fullest extent permitted by applicable
law. This agreement may be enforced by the Company or any of its affiliates
engaged in the Business.

         21. REMEDIES. The parties to this Agreement shall be entitled to
enforce their respective rights under this Agreement specifically, to recover
damages (including, without limitation, reasonable fees and expenses of counsel)
by reason of any breach of any provision of this Agreement and to exercise all
other rights existing in their respective favor. The parties hereto agree and
acknowledge that money damages may not be an adequate remedy for any breach or
threatened breach of the provisions of this Agreement and that any party may in
their respective sole discretion apply to any court of law or equity of
competent jurisdiction for specific performance and/or injunctive relief in
order to enforce or prevent any violations of the provisions of this Agreement.
Such injunction or decree shall be available without the posting of any bond or
other security.

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         22. COUNTERPARTS. This Agreement may be executed by the parties hereto
in separate counterparts, with the same effect as if the parties had signed the
same document. All such counterparts shall be deemed an original, shall be
construed together and shall constitute one and the same instrument.

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         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.

                                   ADVANCEPCS

                                   By:
                                      -----------------------------------------
                                      David D. Halbert, Chairman and CEO

                                   EMPLOYEE

                                   --------------------------------------------
                                   Yon Y. Jorden

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                                   EXHIBIT "A"

                                 FRINGE BENEFITS

1.   Stock Options. Employee shall be granted an incentive stock option (the
     "Option") to purchase 160,000 shares of the Common Stock (the "Shares") of
     the Company. The Option shall be subject to approval by the Company's
     Compensation Committee of the Board of Directors and granted pursuant to
     the provisions of the Company's Amended and Restated Incentive Stock Option
     Plan (the "Plan"). The Option shall vest and become exercisable as to 20%
     of the shares on each of the first five anniversaries of the date of grant;
     provided that the option shares that would have vested in 2006 and 2007
     shall vest and become exercisable if the Company meets certain financial
     performance targets set by the Board of Directors for FY03, FY04 and FY05.
     The Option shall vest in full upon a Change of Control transaction as
     defined in Section 5(d) hereof.

2.   Incentive Bonus. Employee will be entitled to participate in the Company's
     Management Incentive Program for an annual bonus based on the Company's
     audited financial performance for the fiscal year as well as Employee's
     individual contribution to the Company. Employee's target bonus shall be
     65% of the Base Salary. Any Annual Bonus payable with respect to a fiscal
     year shall be subject to the approval of the Compensation Committee of the
     Board of Directors and shall be paid in accordance with Company's normal
     payroll practices.

3.   Car Allowance. Employee shall be provided an $800.00 per month car
     allowance. At year-end, the value of this benefit will be reported as
     required by the IRS regulations on Employee's Form W-2.

4.   Financial Counseling. The Company shall reimburse you for the cost of
     executive financial counseling services, using the financial planner of
     your choice, in an amount not to exceed $10,000 per year.

5.   Interest Free Loan. Employee shall be entitled to an interest-free loan of
     up to $200,000 to be applied to a new home purchase, with the principal of
     such loan subject to repayment to be reduced by 50% on the second
     anniversary of the Effective Date, and the balance to be forgiven on the
     third anniversary of employment. Employee will execute a promissory note
     evidencing the loan substantially in the form of Exhibit B attached hereto.

6.   Relocation. Employee shall be entitled to the relocation benefits set forth
     below:

                                       14
<PAGE>

                      EXECUTIVE RELOCATION PROGRAM ELEMENTS

<Table>
<Caption>
TYPE OF ASSISTANCE
------------------
<S>                             <C>
-HOUSE HUNTING TRIP             2 trips 7 days for employee and spouse/partner

-RETURN TRIPS                   2 return trips

-TEMPORARY LODGING              120 day Temporary Lodging and one time household
                                set-up @$500. 10 days rental car if necessary.

-TRIP HOME TO ASSIST WITH       1 trip
 HOUSEHOLD MOVE

-MISCELLANEOUS MOVING           One month of base salary up to $20,000
 ALLOWANCE

HOME SALE ASSISTANCE            Home Buyout with 60-day mandatory marketing
                                period. Includes payment of real estate
                                commission and closing costs.

HOME SALE INCENTIVE             3% of selling price if sold within 90 day period
                                ($25,000 cap) (No tax assistance)

EQUITY ADVANCE                  At the time of guaranteed offer up to 90%

NEW HOME CLOSING COSTS          Reimbursement non-recurring closing costs up to
                                3% of the purchase price

HOUSEHOLD GOODS SHIPMENT        Company paid van line service. Shipment of up to
                                3 cars

FINAL MOVE/TRAVEL               Reimbursement for airfare or mileage, meals and
                                lodging and rental car if auto has shipped.

LEASE CANCELLATION              Not to exceed 3 month's rent

PAYBACK AGREEMENT               Employee is responsible for repayment of
                                relocation benefits if employee leaves within 12
                                months
</Table>

                                       15<PAGE>
                                                                   EXHIBIT 10.34

                               AMENDMENT NO. 4 TO
                              THE CREDIT AGREEMENT

                  AMENDMENT NO. 4 TO THE CREDIT AGREEMENT (this "Amendment")
dated as of May 29, 2002 is entered into by and among AdvancePCS, f/k/a Advance
Paradigm, Inc., a Delaware corporation (the "Borrower"), the Subsidiary
Guarantors party hereto, the Lenders party hereto, Bank One, N.A. ("Bank One"),
as Documentation Agent, Bank of America, N.A. ("Bank of America"), as Collateral
Agent and as Administrative Agent for the Lender Parties, Merrill Lynch, Pierce.
Fenner & Smith Incorporated, as Book-Runner, Lead Arranger and Syndication
Agent, and Banc of America Securities LLC, as Joint Book-Runner and Joint Lead
Arranger. Capitalized terms not otherwise defined in this Amendment have the
same meanings as specified in the Credit Agreement (as defined below).

                  PRELIMINARY STATEMENTS:

                  WHEREAS, the Borrower, the Subsidiary Guarantors, the Lenders
and the Agents have entered into a Credit Agreement dated as of October 2, 2000,
as amended by Amendment No. 1 to the Credit Agreement dated as of November 3,
2000, Amendment No. 2 to the Credit Agreement dated as of June 22, 2001 and
Amendment No. 3 to the Credit Agreement dated as of August 24, 2001 (as so
amended and as otherwise amended, restated and modified from time to time, the
"Credit Agreement"); and

                  WHEREAS, the Borrower and its subsidiaries (i) intend to
increase the amount of the Asset Securitization from $150,000,000 to
$300,000,000, which increased Asset Securitization shall consist of receivables
having an average daily outstanding balance during any calendar month of
approximately $500,000,000, and (ii) have requested that the Required Lenders
approve certain other amendments to the Credit Agreement;

                  NOW, THEREFORE, in consideration of the mutual promises and
obligations contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Borrower, the
Subsidiary Guarantors and the Required Lenders have agreed to amend the Credit
Agreement as hereinafter set forth.

                  SECTION 1. Amendment. The Credit Agreement is, effective as of
the Amendment No. 4 Effective Date (as defined herein), hereby amended as
follows:

                           (a) The definition of "Asset Securitization" in
                  Section 1.01 of the Credit Agreement is deleted in its
                  entirety and replaced with the following definition:

                  "`ASSET SECURITIZATION' means the structured receivables
         financing transaction entered into by and among (i) the Originator,
         (ii) AFC Receivables Holding Corporation, a Delaware corporation, as
         the initial seller, (iii) the Receivables Subsidiary, as the subsequent
         seller, (iv) General Electric Capital Corporation ("GE CAPITAL"), as
         administrative agent and committed purchaser, and (v) Redwood
         Receivables Corporation, as conduit purchaser (together with GE
         Capital, the "PURCHASERS") on December 10, 2001, and amended and
         increased on or about May 31, 2002, providing for the contribution and
         transfer of Securitization Receivables, having a final purchase date

<PAGE>

         not later than 5 years from December 10, 2000 and a facility commitment
         not to exceed $300,000,000, provided that (a) the Receivables held by
         the Receivables Subsidiary in connection with the Asset Securitization
         shall be Securitization Receivables, (b) the monetary Obligations of
         the Receivables Subsidiary in respect of the Asset Securitization shall
         be non-recourse to any Loan Party (other than such recourse as is
         customary in receivables securitization transactions of this type), (c)
         the documentation relating to the Asset Securitization shall be in form
         and substance reasonably satisfactory to the Administrative Agent, (d)
         the Borrower and its Subsidiaries shall clearly indicate on their
         records which Receivables are Securitization Receivables that have been
         transferred to the Receivables Subsidiary and (e) the Administrative
         Agent shall be reasonably satisfied that all amounts relating to the
         Securitization Receivables shall not be commingled with cash or other
         amounts of the Borrower and its Subsidiaries (other than the
         Receivables Subsidiary) and that all amounts paid in respect of the
         Securitization Receivables shall be deposited into one or more
         lockboxes or other bank accounts in which no other funds are deposited
         on terms and conditions reasonably satisfactory to the Administrative
         Agent."

                  (b) The definition of "Debt" in Section 1.01 of the Credit
         Agreement is hereby amended by (i) deleting the portion of the
         penultimate sentence thereof after the words "It is understood that
         "Debt" shall not include any Business Guarantee", (ii) deleting the
         word "and" at the end of subclause (i) thereof; (iii) replacing the
         period at the end of subclause (j) thereof with "; and" and (iv) adding
         the following new subclause (k) immediately to the end of the existing
         subclause (j):

                           "(k) the outstanding attributed capital investment
                  amount of the Asset Securitization."

                  (c) Section 1.01 of the Credit Agreement is amended to insert
         the following definition:

                  "ORIGINATOR" means AdvancePCS Health, L.P., an indirect
         wholly-owned subsidiary of the Borrower.

                  (d) The definition of "Securitization Receivables" in Section
         1.01 of the Credit Agreement is deleted in its entirety and replaced
         with the following definition:

                  "`SECURITIZATION RECEIVABLES' means, all receivables of the
         Originator that are both (a) generated by the claims processing systems
         of the Borrower or any of its Subsidiaries and (b) billed or to be
         billed by the Recap or RxClaims processing systems, or their successor
         systems, of the Borrower or any of its Subsidiaries; provided, however,
         that "Securitization Receivables" shall not include: (i) receivables
         consisting of amounts owing to the Originator from drug manufacturers
         in respect of rebates, disease management or other
         manufacturer-sponsored programs, (ii) receivables consisting of amounts
         owing to the Originator directly from patients or (iii) any other
         receivables that are not both (A) generated by the claims processing
         systems of the Borrower or any of its Subsidiaries and (B) billed or to
         be billed by the Recap or RxClaims processing systems, or their
         successor systems, of the Borrower or any of its Subsidiaries. For the
         avoidance

                                       2

<PAGE>

         of doubt, the receivables that constitute Securitization Receivables
         shall be deemed to include amounts owing to the Originator in respect
         of products sold and/or services rendered by the Originator and
         transferred to the Receivables Subsidiary pursuant to the terms of the
         Asset Securitization (so long as such amounts are both (a) generated by
         the claims processing systems of the Borrower or any of its
         Subsidiaries and (b) billed or to be billed by the Recap or RxClaims
         processing systems, or their successor systems, of the Borrower or any
         of its Subsidiaries), in all cases regardless of whether such amounts
         are characterized as accounts receivable, general intangibles or
         otherwise, and shall be deemed to include as well certain related
         rights, such as agreements or other arrangements supporting or securing
         payment of any such receivables or obligations, described in the
         documentation approved by the Administrative Agent in connection with
         the Asset Securitization."

                      (e) Section 3.02 of the Credit Agreement is hereby amended
         by (i) deleting the word "and" at the end of subclause (i) thereof;
         (ii) replacing the period at the end of subclause (ii) thereof with ";
         and" and (iii) adding the following new subclause (iii) immediately to
         the end of such Section 3.02:

                           "(iii) if (A) the date of such Borrowing or issuance
                  or renewal is within 90 days following a repurchase of shares
                  of the Borrower's common stock or rights, options or units in
                  respect thereof that was consummated in reliance upon Section
                  5.02(g)(ix) and (B) the amount of the payment to make such
                  repurchase was (x) when aggregated with all other such
                  payments made during the same Fiscal Year, in excess of
                  $50,000,000 or (y) when aggregated with all other such
                  payments made during the term of this Agreement, in excess of
                  $150,000,000, then the aggregate Unused Tranche A Revolving
                  Credit Commitments of all Lenders, after giving effect to the
                  requested Borrowing or issuance or renewal and to the
                  application of the proceeds therefrom, shall be equal to or
                  greater than $100,000,000."

                      (f) Section 4.01 of the Credit Agreement is hereby
         amended by adding the following new subclause (bb) immediately to the
         end of such Section 4.01:

                           "(bb) In connection with the Asset Securitization,
                  the Borrower has taken appropriate steps to ensure that (i)
                  all amounts relating to the Securitization Receivables are not
                  commingled with cash or other amounts of the Borrower and its
                  Subsidiaries and that all amounts paid in respect of the
                  Securitization Receivables are deposited into one or more
                  lockboxes or other bank accounts in which no other funds are
                  deposited and (ii) the Borrower and its Subsidiaries clearly
                  indicate on their records which Receivables are Securitization
                  Receivables that have been transferred to the Receivables
                  Subsidiary."

                      (g) Section 5.01(j) of the Credit Agreement is hereby
         amended by inserting in the last paragraph thereof the following as a
         new last sentence:

                                        3

<PAGE>

                      "Notwithstanding the foregoing, the provisions of this
                      Section 5.01(j) shall not be applicable with respect to
                      the Receivables Subsidiary."

                      (h) Section 5.01(r) of the Credit Agreement is hereby
         deleted in its entirety and replaced with the following:

                           "(r) Asset Securitization. In connection with the
                  Asset Securitization, (i) deposit, and cause each of its
                  Subsidiaries (where applicable) to deposit, all amounts
                  received in respect of the Securitization Receivables into one
                  or more lockboxes or other bank accounts in which no other
                  funds are deposited and otherwise ensure that all amounts
                  relating to the Securitization Receivables are not commingled
                  with cash or other amounts of the Borrower and its
                  Subsidiaries (other than the Receivables Subsidiary), and (ii)
                  clearly indicate, and cause each of its Subsidiaries (where
                  applicable) to clearly indicate, on its records (including,
                  without limitation, its computer records) which Receivables
                  are Securitization Receivables that have been transferred to
                  the Receivables Subsidiary in connection with the Asset
                  Securitization."

                      (i) Section 5.02(a)(vi) of the Credit Agreement is hereby
         deleted in its entirety and replaced with the following:

                           "(vi) other Liens securing Debt outstanding in an
                  aggregate principal amount not to exceed $30 million;"

                      (j) Section 5.02(f)(xiv)(A) is hereby deleted in its
         entirety and replaced with the following:

                           "(A) (I) (1) the aggregate consideration paid for
                  such acquisition or related series of acquisitions (other than
                  any consideration paid through the issuance of Equity
                  Interests) plus (2) the aggregate principal amount of Debt
                  assumed or acquired in connection with such acquisition or
                  related series of acquisitions does not exceed $150,000,000;
                  and (II) (1) the aggregate consideration paid for such
                  acquisition and all other acquisitions made after the date of
                  this Agreement (other than any consideration paid through the
                  issuance of Equity Interests) plus (2) the aggregate principal
                  amount of Debt assumed or acquired in connection with such
                  acquisition and all other acquisitions made after the date of
                  this Agreement does not exceed $300,000,000.

                      (k) Section 5.02(f)(xiv)(B) is hereby amended by deleting
         the amount "$25,000,000" and replacing it with "$50,000,000."

                      (1) Section 5.02(g) of the Credit Agreement is hereby
         amended by (i) deleting the word "and" at the end of subclause (vii)
         thereof; (ii) replacing the period at the end of subclause (viii)
         thereof with "; and" and (iii) adding the following new subclause (ix)
         immediately to the end of such clause (g):

                                       4
<PAGE>

                           "(ix) the Borrower may repurchase shares of its
                  common stock or rights, options or units in respect thereof,
                  provided (A) no Default or Event of Default shall exist on the
                  date of, or shall result from, the making of any such
                  repurchase and (B) either:

                                   (I) each of the following shall be satisfied
                           with respect to any such repurchase:

                                            (w) as of the last day of the most
                                   recently ended fiscal quarter prior to such
                                   repurchase for which the Administrative Agent
                                   has received the financial statements and
                                   officer's certificate required to be
                                   delivered pursuant to Section 5.03(b) or (c),
                                   as applicable, EBITDA for the fiscal quarter
                                   ending as of such date shall be greater than
                                   $300,000,000;

                                            (x) at the time of such repurchase,
                                   the Borrower's senior secured non-credit
                                   enhanced long-term debt shall be rated BB+ or
                                   better by S&P and Ba1 or better by Moody's;

                                            (y) after giving effect to such
                                   repurchase and any Borrowings incurred in
                                   connection therewith on a pro forma basis,
                                   the Total Leverage Ratio, as of the last day
                                   of the most recently ended fiscal quarter for
                                   which the Administrative Agent has received
                                   the financial statements and officer's
                                   certificate required to be delivered pursuant
                                   to Section 5.03(b) or (c), as applicable,
                                   shall be less than 1.75 to 1.00 and the Chief
                                   Financial Officer or Treasurer of the
                                   Borrower shall have delivered to the
                                   Administrative Agent a certificate
                                   demonstrating the satisfaction of such
                                   requirement; and

                                            (z) after giving effect to such
                                   repurchase and any Borrowings incurred in
                                   connection therewith, the aggregate Unused
                                   Tranche A Revolving Credit Commitments of all
                                   Lenders shall be equal to or greater than
                                   $100,000,000; or

                                   (II) if any of the requirements set forth in
                           the immediately preceding clause (I) is not
                           satisfied, the amount of any payment to make such
                           repurchase shall not (x) when aggregated with all
                           other such payments made during the same Fiscal Year,
                           exceed $50,000,000 and (y) when aggregated with all
                           other such payments made during the term of this
                           Agreement, exceed $150,000,000."

                      (m) Section 5.02(o) of the Credit Agreement is hereby
         amended by adding a new subclause (v) immediately to the end thereof to
         read as follows:

                                       5
<PAGE>

                           "(v) Notwithstanding the foregoing, the Borrower and
                  its Subsidiaries may make Capital Expenditures (which Capital
                  Expenditures will not be included in any determination under
                  the foregoing clause (i)) consisting of the direct costs paid
                  by the Borrower or any of its Subsidiaries in connection with
                  the construction of a mail facility in Wilkes Barre,
                  Pennsylvania in an aggregate amount for all such excluded
                  costs pursuant to this clause (v) not to exceed $30,000,000."

                      (n) A new Section 5.02(r) is hereby added to the Credit
         Agreement to read as follows:

                           "(r) Permit any receivables of the Originator that
                  are described in clauses (i) and (ii) in the definition of
                  "Securitization Receivables" in Section 1.01 hereof to be
                  billed by the ReCap or RxClaims processing systems, or
                  successor systems, of the Borrower or any of its Subsidiaries,
                  and shall not expand and/or modify such systems in a manner
                  such that any of such receivables could be or will be included
                  in the types of receivables billed by such systems."

                      (o) Sections 5.03(b), (c) and (h) of the Credit Agreement
         are hereby amended by adding the words "or Treasurer" after each of the
         references therein to "Chief Financial Officer".

                      (p) Section 5.03(l) of the Credit Agreement is hereby
         deleted and replaced with the following:

                           "(l) Securitization Receivables. So long as the Asset
                  Securitization is continuing, then as soon as available and in
                  any event within 45 days after the end of each of the first
                  three fiscal quarters of each Fiscal Year, and within 90 days
                  after the end of the last quarter of each Fiscal Year, a
                  certificate, in substantially the form of Schedule V hereto,
                  executed by a Responsible Officer of the Borrower setting
                  forth in reasonable detail for each calendar month occurring
                  in such fiscal quarter (i) the average daily outstanding
                  balance of all billed Securitization Receivables held by the
                  Receivables Subsidiary and (ii) the month end outstanding
                  balance of (A) all Securitization Receivables held by the
                  Receivables Subsidiary, including a breakdown showing the
                  portion of such receivables that are billed and the portion
                  that are unbilled, and (B) all receivables of the Borrower and
                  its Subsidiaries (other than the Receivables Subsidiary),
                  including a breakdown showing the portion of such receivables
                  that are billed and the portion that are unbilled, in each
                  case including information as to the type of such receivable
                  and delivered in a form reasonably acceptable to the
                  Administrative Agent."

                      (q) Section 5.04(b) of the Credit Agreement is hereby
         amended by adding a new sentence immediately to the end thereof to read
         as follows:

                                        6
<PAGE>
                           "Notwithstanding the foregoing, if the Borrower has
                  made a repurchase of shares of its common stock or rights,
                  options or units in respect thereof that was consummated in
                  reliance upon Section 5.02(g)(ix) and the amount of the
                  payment for such repurchase is, when aggregated with all other
                  such payments made during the term of this Agreement, in
                  excess of $150,000,000, the Borrower will maintain at the end
                  of each fiscal quarter of the Borrower occurring on or after
                  the date of such repurchase, a Total Leverage Ratio of not
                  more than 3.00:1.0."

                      (r) The Credit Agreement is amended by deleting Schedule V
         thereto in its entirety and replacing it with Schedule V as set forth
         in Schedule I hereto, which Schedule may be modified from time to time
         as the Borrower, the Originator and the Administrative Agent shall
         agree.

                  SECTION 2. Conditions of Effectiveness. This Amendment shall
become effective as of the date first above written (the "Amendment No. 4
Effective Date") when, and only when each of the following conditions shall have
been satisfied (it being understood that the satisfaction of one or more of the
following conditions may occur concurrently with the effectiveness of this
Amendment):

                      (a) the Administrative Agent shall have received
         counterparts of this Amendment executed by the Borrower, the Subsidiary
         Guarantors and the Required Lenders (determined as of the point in time
         at which each of the other conditions precedent set forth in this
         Section 2 has been satisfied and after giving effect to clause (c)
         below) or, as to any of the Required Lenders, advice satisfactory to
         the Administrative Agent that such Required Lender has executed this
         Amendment;

                      (b) the Borrower shall have paid to the Administrative
         Agent, for the benefit of each Lender approving this Amendment, an
         amendment fee equal to 0.25% on each such Lender's Tranche A Revolving
         Credit Commitment;

                      (c) the Borrower shall have prepaid (or concurrently with
         the effectiveness hereof; shall prepay) the Term B Facility in full;

                      (d) the Borrower shall have paid any and all out-of-pocket
         costs (to the extent invoiced) incurred by the Administrative Agent
         (including the reasonable fees and expenses of the Administrative
         Agent's legal counsel), and fees and other amounts payable to the
         Administrative Agent, in each case in connection with the arrangement,
         negotiation, preparation, execution and delivery of this Amendment; and

                      (e) the Administrative Agent shall have received (i) a
         certified copy of the resolutions of the Board of Directors of the
         Borrower and each other Loan Party evidencing its approval of this
         Amendment, the increased Asset Securitization and the other matters
         contemplated hereby, and a certified copy of all documents evidencing
         other necessary corporate action and governmental approvals, if any,
         with respect to this Amendment and the other matters contemplated
         hereby; (ii) a certificate from a Responsible Officer of the Borrower
         to the effect that, as of the date hereof, (A) all

                                       7
<PAGE>
         representations and warranties made by the Borrower and each other Loan
         Party in this Amendment and each other Loan Document are true and
         correct in all material respects as if made as of the date hereof;
         other than any such representations or warranties that, by their terms,
         refer to a specific date other than the date hereof; in which case as
         of such specific date, and (B) after giving effect to this Amendment,
         no Default or Event of Default has occurred and is continuing; and
         (iii) a bringdown legal opinion of Akin, Gump Strauss, Hauer & Feld,
         L.L.P. in form and substance satisfactory to the Administrative Agent
         and its counsel (which shall cover, among other things, perfection and
         no conflicts).

                  SECTION 3. Authority of Administrative Agent. The Required
Lenders hereby acknowledge and agree that pursuant to the authority granted to
the Administrative Agent under Article VIII of the Credit Agreement, the
Administrative Agent has the power to execute and deliver all documents and to
take all such further action on behalf of the Lender Parties as it may deem to
be reasonably necessary to effectuate the Asset Securitization as set forth in
the Credit Agreement and in this Amendment thereto.

                  SECTION 4. Representations and Warranties. Each of the Loan
Parties represents and warrants as follows:

                      (a) the representations and warranties contained in each
         Loan Document are correct in all material respects on and as of the
         date hereof, before and after giving effect to this Amendment, as
         though made on and as of the date hereof, other than any such
         representations or warranties that by their terms, refer to a specific
         date, in which case, as of such specific date;

                      (b) no Default or Event of Default has occurred and is
         continuing under the Credit Agreement, as amended hereby, or would
         result from this Amendment;

                      (c) it has taken all necessary action to authorize the
         execution, delivery and performance of this Amendment;

                      (d) this Amendment has been duly executed and delivered by
         such Loan Party and constitutes such Loan Party's legal, valid and
         binding obligation, enforceable in accordance with its terms, except as
         such enforceability may be limited (x) by general principles of equity
         and conflicts of laws or (y) by bankruptcy, reorganization, insolvency,
         moratorium or other laws of general application relating to or
         affecting the enforcement, of creditors' rights;

                      (e) no consent, approval, authorization or order of, or
         filing, registration or qualification with, any court or governmental
         authority or third party is required in connection with the execution,
         delivery or performance by such Loan Party of this Amendment where not
         completed such action would reasonably be expected to have a Material
         Adverse Effect; and

                                       8
<PAGE>
                      (f) the execution and delivery of this Amendment does not
         diminish or reduce its obligations under the Loan Documents (including,
         without limitation, in the case of each Subsidiary Guarantor, such
         Subsidiary Guarantor's guaranty pursuant to Section 7 of the Credit
         Agreement) in any manner, except as specifically set forth herein.

                  SECTION 5. Reference to and Effect on the Loan Documents. (a)
On and after the effectiveness of this Amendment, each reference in the Credit
Agreement to "this Agreement", "hereunder", "hereof" or words of like import
referring to the Credit Agreement, and each reference in the Notes and each of
the other Loan Documents to "the Credit Agreement", "thereunder", "thereof" or
words of like import referring to the Credit Agreement, shall mean and be a
reference to the Credit Agreement as amended by this Amendment.

                      (b) The Credit Agreement, the Notes and each of the other
         Loan Documents, as specifically amended by this Amendment, are and
         shall continue to be in full force and effect and are hereby in all
         respects ratified and confirmed.

                      (c) Except as expressly provided herein, the execution,
         delivery and effectiveness of this Amendment shall not operate as a
         waiver of any right, power or remedy of any Lender or the
         Administrative Agent under any of the Loan Documents, nor constitute a
         waiver of any provision of any of the Loan Documents.

                      (d) This Amendment shall constitute a Loan Document and,
         as such, can only be amended in accordance with the provisions of
         Section 9.01 of the Credit Agreement.

                  SECTION 6. Costs, Expenses. The Borrower agrees to pay on
demand all reasonable costs and expenses of the Administrative Agent in
connection with the preparation, execution, delivery and administration of this
Amendment (including, without limitation, the reasonable fees and expenses of
counsel for the Administrative Agent) in accordance with the terms of Section
9.04 of the Credit Agreement.

                  SECTION 7. Execution in Counterparts. This Amendment may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute but one and the same
agreement. Delivery of an executed counterpart of a signature page to this
Amendment by telecopier shall be effective as delivery of a manually executed
counterpart of this Amendment.

                  SECTION 8. Governing Law. This Amendment shall be governed by,
and construed in accordance with, the laws of the State of New York.

              [The rest of this page is intentionally left blank.]

                                       9
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective officers thereunto duly authorized, as of the date
first above written.

                                      BORROWER

                                          ADVANCEPCS

                                          By: /s/ DAVID D. HALBERT
                                              ----------------------------------
                                          Name: David D. Halbert
                                          Title: CEO

                                      SUBSIDIARY GUARANTORS

                                          ADVANCEPCS HOLDING CORPORATION

                                          By: /s/ DAVID D. HALBERT
                                              ----------------------------------
                                          Name: David D. Halbert
                                          Title: CEO

                                          ADVANCEPCS HEALTH SYSTEMS, LLC

                                          By: /s/ DAVID D. HALBERT
                                              ----------------------------------
                                          Name: David D. Halbert
                                          Title: CEO

                                          ADVANCEPCS HEALTH, L.P.

                                          By ADVANCEPCS HEALTH SYSTEMS, LLC, its
                                          General Partner

                                          By: /s/ DAVID D. HALBERT
                                              ----------------------------------
                                          Name: David D. Halbert
                                          Title: CEO

                           [signature pages continue]

<PAGE>
                                     ADVANCEPCS RESEARCH, L.L.C.

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: CEO

                                     ADVANCERX.COM, L.P.

                                     By ADVANCEPCS HEALTH SYSTEMS, LLC, its
                                     General Partner

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: CEO

                                     ADVP CONSOLIDATION, L.L.C.

                                     By: /s/ SUSAN DE MARS
                                         ---------------------------------------
                                     Name: Susan de Mars
                                     Title: Secretary

                                     ADVP MANAGEMENT, L.P.,

                                     By ADVANCEPCS HEALTH SYSTEMS, LLC, its
                                     General Partner

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: CEO

                                     AMBULATORY CARE REVIEW SERVICES, INC.

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: CEO

                           [signature pages continue]

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
                                     BAUMEL-EISNER NEUROMEDICAL INSTITUTE,
                                     INC.

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: Chairman

                                     FFI RX MANAGED CARE, INC.

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: CEO

                                     FIRST FLORIDA INTERNATIONAL HOLDINGS,
                                     INC.

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: CEO

                                     HMN HEALTH SERVICES, INC.

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: CEO

                                     ADVANCEPCS MAIL SERVICES OF
                                     BIRMINGHAM, INC.

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: CEO

                                     ADVANCEPCS PUERTO RICO, INC.

                                     By: /s/ DAVID D. HALBERT
                                         ---------------------------------------
                                     Name: David D. Halbert
                                     Title: CEO

                           [signature pages continue]

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002

<PAGE>
                                            ADVANCEPCS SPECIALTYRX, LLC

                                            By: /s/ DAVID D. HALBERT
                                                ----------------------------
                                            Name: David D. Halbert
                                            Title: CEO

                                            AFC RECEIVABLES HOLDING CORPORATION

                                            By: /s/ DAVID D. HALBERT
                                                ----------------------------
                                            Name: David D. Halbert
                                            Title: CEO

                                            DRESING-LIERMAN, INC.

                                            By: /s/ DAVID D. HALBERT
                                                ----------------------------
                                            Name: David D. Halbert
                                            Title: CEO

                                            THERACOM, INC.

                                            By: /s/ DAVID D. HALBERT
                                                ----------------------------
                                            Name: David D. Halbert
                                            Title: CEO

                                            CONSUMER HEALTH INTERACTIVE, INC.

                                            By: /s/ DAVID D. HALBERT
                                                ----------------------------
                                            Name: David D. Halbert
                                            Title: CEO

                           [signature pages continue]

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
ADMINISTRATIVE AGENT AND COLLATERAL AGENT

BANK OF AMERICA, N.A.
as Administrative Agent and Collateral Agent

By: /s/ JOSEPH L. CORAH
    ----------------------------------------
        Joseph L. Corah
Title:  Principal

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
LENDERS (AND OTHER AGENTS)

BANK OF AMERICA, N.A.,
as Initial Lender and Initial Issuing Bank and Lender Party

By: /s/ JOSEPH L. CORAH
   -------------------------------
   Joseph L. Corah
Title: Principal

BANK ONE, N.A., as Documentation Agent and Lender Party

By: /s/ JOHN A. HORST
   -------------------------------
Name: John A. Horst
Title: Director

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,
as Syndication Agent

By: /s/ SHEILA MCGILLICUDDY
   -------------------------------
   Sheila McGillicuddy
Title: Director

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002

<PAGE>
Bank of China, New York Branch
----------------------------------
[LENDER]

By: /s/ WILLIAM WARREN SMITH, JR.
   -------------------------------
Name: Smith Jr., William Warren
Title: Chief Lending Officer
      ----------------------------

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
THE BANK OF NOVA SCOTIA

By: /s/ R.P. REYNOLDS
   -------------------------------
Name: R.P. Reynolds
Title: Director

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
            CIBC INC.
----------------------------------
[LENDER]

By: /s/ TERENCE MOORE
   -------------------------------
   Terence Moore
Title: Executive Director
      ----------------------------

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
CREDIT SUISSE FIRST BOSTON
----------------------------------
[LENDER]

By: /s/ WILLIAM S. LUTKINS
   -------------------------------
   WILLIAM S. LUTKINS
Title: DIRECTOR
      ----------------------------

By: /s/ ROBERT HETU
   -------------------------------
   ROBERT HETU
Title: DIRECTOR
      ----------------------------

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002

<PAGE>
ERSTE BANK

By:     /s/ BRANDON A. MEYERSON
    --------------------------------------
            Brandon A. Meyerson
               Vice President
Title:   Erste Bank New York Branch
       -----------------------------------

By:      /s/ JOHN S. RUNNION
    --------------------------------------
             JOHN S. RUNNION
            MANAGING DIRECTOR
Title:   ERSTE BANK NEW YORK BRANCH
       -----------------------------------

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
GENERAL ELECTRIC CAPITAL CORPORATION

/s/ [ILLEGIBLE]
------------------------------------
Title:  Duly Authorized Signatory
       -----------------------------

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
MERRILL LYNCH CAPITAL CORPORATION
-----------------------------------
[LENDER]

By:  /s/ MICHAEL E. O'BRIEN
    -------------------------------
         MICHAEL E. O'BRIEN
Title:   VICE PRESIDENT
      -----------------------------

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
Raymond James Bank, FSB
-----------------------------------
[LENDER]

By:  /s/ ANDREW D. HAHN
    -------------------------------
         Andrew D. Hahn

Title:   Vice President
      -----------------------------

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
TEXTRON FINANCIAL CORPORATION

By:  /s/ MATTHEW J. COLGAN
    -------------------------------
         Matthew J. Colgan

Title:   Director

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002
<PAGE>
/s/ JESSICA S. WRIGHT
----------------------------------------------
WACHOVIA BANK, NATIONAL ASSOCIATION

By:    Jessica S. Wright
    ------------------------------------------
Title: Director
       ---------------------------------------

                                             Amendment No. 4 to Credit Agreement
                                                          in favor of AdvancePCS
                                                                        May 2002

<PAGE>
                                   SCHEDULE I

                                                               Schedule V to the
                                                               Credit Agreement

                                  RECEIVABLES

                                  SEE ATTACHED
<PAGE>
SAMPLE - SCHEDULE V
SUMMARY OF ACCOUNTS RECEIVABLE
(000'S)

<Table>
<Caption>
                                                      MONTH ENDED:
    CATEGORY OF RECEIVABLES          JAN.          FEB.          MAR.        AVERAGE
    -----------------------       ----------    ----------    ----------    ----------
<S>                               <C>           <C>           <C>           <C>
SECURITIZATION RECEIVABLES:

BILLED RECAP                         196,965       202,316       396,996       265,426
BILLED RxCLAIM                        12,005        39,123         8,286        19,805

UNBILLED RECAP                       168,807       177,599        95,542       147,316
UNBILLED RxCLAIM                      91,563        96,036        67,456        85,018
                                  ----------    ----------    ----------    ----------
                                     469,340       515,074       568,280       517,565
                                  ----------    ----------    ----------    ----------
                                          45%           44%           49%           46%

REMAINING BANK RECEIVABLES:

REBATES - BILLED                     218,450       155,903       338,148       237,500
REBATES - UNBILLED                   247,348       378,236       135,819       253,801

OTHER MANUFACTURER A/R - BILLED      108,374       112,374       112,966       111,238

PATIENTS - BILLED                      2,737         3,386         2,066         2,730
                                  ----------    ----------    ----------    ----------
                                     576,909       649,899       588,999       605,269
                                  ----------    ----------    ----------    ----------
                                          55%           56%           51%           54%
                                  ----------    ----------    ----------    ----------
TOTAL                              1,046,249     1,164,973     1,157,279     1,122,834
                                  ----------    ----------    ----------    ----------
</Table>

THE AVERAGE DAILY OUTSTANDING BALANCE OF ALL BILLED SECURITIZATION RECEIVABLES
HELD BY THE RECEIVABLES SUBSIDIARY DURING THE MONTHS ENDED MARCH 31, 2002 WAS:

<Table>
<S>                                                <C>
JANUARY 2002                                       $264,055
FEBRUARY 2002                                      $271,434
MARCH 2002                                         $265,442
</Table>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00040-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00040-of-00352.parquet"}]]