Document:

STOCK PURCHASE ESCROW AGREEMENT

         This STOCK PURCHASE ESCROW AGREEMENT (this ?Agreement?) is dated
as of the 5th day of July, 2006, between Eugene Michael Kennedy, P.A., a
Florida professional association, as Escrow Agent (the ?Escrow Agent?),
certain stockholders of ProGuard Acquisition Corp. (?PAC?) listed on
Exhibit A (the ?Sellers?), and Worldwide Security Acquisitions, LLC
(?WSA? or the ?Buyer?).  Capitalized terms used but not otherwise
defined herein shall have the meaning ascribed thereto in the Stock
Purchase Agreement (as defined below).

         WHEREAS, the Sellers have granted an option of even date herewith
(the ?Option?) to purchase a minimum of seventy four (74%) percent and
a maximum of eighty-seven (87%) percent of the issued and outstanding
capital stock of PAC owned by Sellers (the ?Shares?); and

         WHEREAS, the Buyer is willing to deposit approximately ten (10%)
percent of the aggregate option exercise purchase price for the Shares
in cash in escrow pursuant to this Agreement and the Sellers are
willing to deposit the Shares in escrow pursuant to this Agreement; and

         WHEREAS, the Sellers and the Buyer wish to engage the Escrow
Agent to act, and the Escrow Agent is willing to act, as escrow agent
hereunder and, in that capacity, to hold and administer the respective
Escrow Funds and Escrow Shares (as defined below) deposited in escrow
hereunder in accordance with, and subject to, the terms of this
Agreement;

         NOW THEREFORE, for valuable consideration, the receipt and
sufficiency whereof is hereby acknowledged, the parties hereto agree as
follows:

Section 1.  Deposit of Escrow Funds and Escrow Shares.
         Within fifteen (15) days of the date of this Agreement (a) each
of the Sellers shall deposit with the Escrow Agent, certificates
evidencing the number of shares (?Escrow Shares?) of PAC?s Common Stock
specified next to their name on Exhibit A hereof under the heading
?Aggregate Number of Shares? and one stock power signed in blank,
signature medallion guaranteed from each Seller covering all
certificates held by such Seller, together with applicable corporate
resolutions authorizing the execution and the delivery of the stock
powers (all such certificates, stock powers and resolutions are
collectively referred to herein as the ?Escrow Shares?) and (b) the
Buyer shall deposit with the Escrow Agent the sum of Seventy Five
Thousand ($75,000.00) Dollars in cash or cash equivalent (the
?Deposit?). Collectively, the Deposit, the balance of the aggregate
Option exercise price and the Escrow Shares, is referred to hereinafter
as (the ?Escrow Property?).  The Escrow Agent shall acknowledge receipt
of the Escrow Property to all parties to this Agreement and agrees to
hold and to administer the Escrow Property in accordance with the terms
of this Agreement.

Section 2.  The Cash Escrow.
   (a)  The Buyer shall deliver the Deposit to the Escrow Agent at and
upon execution of the Agreement. Twenty-Five Thousand ($25,000.00)
Dollars of the Deposit (or 33.33%) shall be non-refundable under any
circumstance whatsoever and shall be delivered by the Escrow Agent to
the Seller for payment of Seller?s costs incurred in connection with
the proposed stock purchase and sale upon termination or upon
completion of the contemplated stock acquisition transaction, whichever
shall first occur.
   (b)  Within 120 days of the date of this Agreement, the Buyer shall
deposit with the Escrow Agent the full balance of the aggregate Option
exercise price, i.e. a minimum of $1,925,000.00 and a maximum of
$2,275,000.00, in cash or cash equivalent.
   (c)  Upon receipt by the Escrow Agent of the full, aggregate Option
exercise price from the Buyer in clear funds, the Escrow Agent shall
notice the parties for closing and at closing shall deliver the cash
escrow to the Sellers, pro-rata to their respective sale of PAC
restricted Common Stock to the Buyer, and deliver the Escrow Shares
certificates and stock powers to the PAC transfer agent with
irrevocable instructions to transfer the Escrow Shares to the Buyer.
   (d)  In the event that the Buyer shall not have deposited a minimum
cash amount aggregating $2,000,000.00 with the Escrow Agent within 120
days of the date of this Agreement, i.e. on or before November 4, 2006,
the Escrow Agent shall return all of the Escrow Shares to the Seller
and shall return all of the Cash Escrow, less the sum of $25,000.00, to
the Buyer and the Escrow shall thereafter be terminated forthwith.

Section 3.  Releases from Escrow.
   (a)  Closing.  At Closing, the Escrow Agent shall (i) deliver the
Escrow Funds to the Seller?s Representative in the form of a check
payable to each of the Sellers in the amount specified next to each
Seller?s name under the heading ?Proceeds from Sale? in Exhibit A and
(ii) deliver the Escrow Shares to Cottonwood Stock Transfer, PAC?s
transfer agent (the ?Transfer Agent?), and instruct the Transfer Agent
to deliver to the Buyer a certificate (or certificates as reasonably
requested by Buyer in advance) representing the aggregate number of
shares of restricted PAC Common Stock purchased registered in the name
of Buyer (or its designee(s)).
   (b)  No Closing.  If the Stock Purchase Agreement transaction is not
closed for any reason whatsoever by November 10, 2006, the Escrow Agent
shall return the Escrow Property without interest or further
instruction to the respective sources of the escrow deposits and the
Escrow Agent hereunder shall thereafter terminate the Escrow forthwith.
   (c)  Joint Written Instruction.  Except as provided in Sections
3(b), 3(c) and 3(d), the Escrow Agent shall hold the Escrow Property in
escrow until the receipt by the Escrow Agent of a notice, executed by
both the Seller?s Representative and the Buyer, directing the
disposition of the Escrow Property.  The Escrow Agent shall not follow
instructions relating to the disposition of the Escrow Property
executed only by the Buyer or return the Escrow Funds to the Buyers
without the Sellers? Representative?s prior written consent.
         (d)  Dispute.  If the Escrow Agent, prior to delivering, or
causing to be delivered, the Escrow Property in accordance herewith,
receives notice of objection, dispute, or other assertion in accordance
with any of the provisions of this Agreement, the Escrow Agent shall
continue to hold the Escrow Property until such time as the Escrow
Agent shall receive (i) written instructions jointly executed by the
Sellers? Representatives and the Buyer, directing distribution of the
Escrow Property, (ii) written instructions from the Seller?s
Representative requesting the deposit of the Escrow Property with a
court of competent jurisdiction in Broward County, Florida or (iii) a
certified copy of a judgment, order or decree of a court of competent
jurisdiction in Broward County, Florida, final beyond the right of
appeal, directing the Escrow Agent to distribute said Escrow Property
to any party hereto or as such judgment, order or decree shall
otherwise specify (including any such order directing the Escrow Agent
to deposit the Escrow Property into the court rendering such order,
pending determination of any dispute between any of the parties).  In
addition, the Escrow Agent shall have the right to deposit the Escrow
Property with a court of competent jurisdiction in Broward County,
Florida without liability to any party if said dispute is not resolved
within thirty (30) days of receipt of any such notice of objection,
dispute or otherwise and the escrow shall thereafter terminate.

Section 4.  Duties and Obligations of the Escrow Agent.
   (a)  The parties hereto agree that the duties and obligations of the
Escrow Agent are only such as are herein specifically provided and no
other.  The Escrow Agent?s duties are as a depositary only, and the
Escrow Agent shall incur no liability whatsoever, except as a direct
result of the Escrow Agent?s willful misconduct or gross negligence.
   (b)  The Escrow Agent may consult with counsel of its choice, and
shall not be liable for any action taken, suffered or omitted by them
in accordance with the advice of such counsel.
   (c)  The Escrow Agent shall not be bound in any way by the terms of
any other agreement to which the Sellers and the Buyer are parties,
whether or not it has knowledge thereof, and the Escrow Agent shall not
in any way be required to determine whether or not any other agreement
has been complied with by the Sellers and the Buyer, or any other party
thereto.  The Escrow Agent shall not be bound by any modification,
amendment, termination, cancellation, rescission or supersession of
this Agreement unless the same shall be in writing and signed jointly
by each of the Sellers and the Buyer, and agreed to in writing by the
Escrow Agent.
   (d)  If the Escrow Agent shall be uncertain as to its duties or
rights hereunder or shall receive instructions, claims or demands
which, in its opinion, are in conflict with any of the provisions of
this Agreement, it shall be entitled to refrain from taking any action,
other than to keep safely all property held in escrow, until it shall
jointly be directed otherwise in writing by the Sellers and the Buyer
or by a final judgment (non-appealable) of a court of competent
jurisdiction.
   (e)  The Escrow Agent shall be fully protected in relying upon any
written notice, demand, certificate or document which it, in good
faith, believes to be genuine.  The Escrow Agent shall not be
responsible for the sufficiency or accuracy of the form, execution,
validity or genuineness of documents or securities now or hereafter
deposited hereunder, or of any endorsement thereon, or for any lack of
endorsement thereon, or for any description therein; nor shall the
Escrow Agent be responsible or liable in any respect on account of the
identity, authority or rights of the persons executing or delivering or
purporting to execute or deliver any such document, security or
endorsement.
   (f)  The Escrow Agent shall not be required to institute legal
proceedings of any kind and shall not be required to defend any legal
proceedings, which may be instituted against it or in respect of the
Escrow Property.
   (g)  If the Escrow Agent, at any time, in its sole discretion, deems
it necessary or advisable to relinquish custody of any of the Escrow
Property, it may do so by delivering the same to any other escrow agent
mutually agreeable to the Sellers and the Agent and, if no such escrow
agent shall be selected within three days of the Escrow Agent's
notification to the Sellers and the Buyer of its desire to so
relinquish custody of the Escrow Property, then the Escrow Agent may do
so by delivering the Escrow Property to the clerk or other proper
officer of any court of competent jurisdiction in Broward County,
Florida.  The fee of any such court officer shall be shared equally by
the parties hereto (other than the relinquishing Escrow Agent).  Upon
such delivery, the relinquishing Escrow Agent shall be discharged from
any and all responsibility or liability with respect to the Escrow
Property.
   (h)  This Agreement shall not create any fiduciary duty on the
Escrow Agent?s part to the Sellers or the Buyer, nor disqualify the
Escrow Agent from representing PAC or the Buyer in any dispute between
Buyer or the Sellers. The parties understand that the Escrow Agent has
acted, and will continue to act, as counsel to PAC.
   (i)  The Escrow Agent represents that it is special counsel to PAC.
The parties agree that the Escrow Agent?s engagement as provided for
herein is not and shall not be objectionable to either the Sellers or
the Buyer for any reason.
   (j)  Upon the Escrow Agent?s performance of this Agreement in
accordance with its terms, it shall be deemed released and discharged
of any further obligations hereunder.

Section 5.  Fees.
         The fees and disbursements incurred by the Escrow Agent in
connection with the preparation, execution and administration of the
escrow created by this Agreement, if any, shall be paid by the Buyer
and if not paid by the Buyer then such fees and disbursements shall be
paid by PAC.

Section 6.  Indemnification.
   (a)  Escrow Agent shall not be liable to anyone for any action taken
or omitted to be taken by it hereunder except in the case of an Escrow
Agent?s gross negligence or willful misconduct.  In no event shall the
Escrow Agent be liable for indirect, punitive, special or consequential
damage or loss (including but not limited to lost profits) whatsoever,
even if the offending Escrow Agent has been informed of the likelihood
of such loss or damage and regardless of the form of action.
   (b)  Each of the Sellers (jointly and severally) and the Buyer
agrees to indemnify the Escrow Agent (and its partners, agents and
employees) and hold it (and such partners, agents and employees)
harmless from and against any loss, liability, damage, cost and expense
of any nature incurred by the Escrow Agent, arising out of or in
connection with this Agreement or with the administration of its duties
hereunder, including but not limited to attorney's fees and other costs
and expenses of defending or preparing to defend against any claim of
liability unless and except to the extent such loss, liability, damage,
cost and expense shall be caused directly by an Escrow Agent's gross
negligence or willful misconduct.  The foregoing indemnification and
agreement to hold harmless shall survive the termination of this
Agreement.

Section 7.  Securities Law Compliance.
         Upon Closing, the Buyer shall make such representations and
furnish such information as may, in the opinion of counsel for PAC, be
reasonably necessary to permit the transfer of the Shares in compliance
with the provisions of applicable federal or state securities laws.
The Buyer acknowledges that PAC, upon advice of counsel, may require
the Transfer Agent to postpone the delivery of Shares upon Closing
until completion of such registration or other qualification of such
shares under any federal or state laws, or stock exchange listing, as
PAC may consider appropriate.  The Buyer acknowledges that PAC may
require that prior to transfer of the Shares, the Buyer enters into a
written agreement to comply with any restrictions on subsequent
disposition that PAC, upon advice of counsel, deems necessary under any
applicable federal and state securities laws.  The Buyer acknowledges
that PAC, stock certificates issued Closing will bear a legend
reflecting such restrictions.

Section 8.  Sellers? Representative.
         Each Seller hereby appoints Frank Bauer (the ?Seller?s
Representative?) to give and receive notices on his behalf and to be
his exclusive representative with respect to any matter arising with
respect to any transaction contemplated by any this agreement and to
undertake the duties and responsibilities as his agent and attorney-in-
fact.  This power of attorney is coupled with an interest and is
irrevocable.  The Representative shall not be liable to anyone for any
action taken or not taken by him in good faith or for any mistake of
fact or law for anything that he may do or refrain from doing in
connection with his obligations under this Agreement in the absence of
his own gross negligence or willful misconduct.  Any action taken or
not taken pursuant to the advice of counsel shall be conclusive
evidence of such good faith.  The Sellers shall, jointly and severally,
indemnify and hold the Representative harmless from any and all
liability and expenses (including, without limitation, counsel fees)
which may arise out of any action taken or omitted by him as
Representative in accordance with this Agreement except such liability
and expense as may result from the gross negligence or willful
misconduct of the Representative.

Section 9.  Notices.
         Any notice permitted or required hereunder shall be in writing,
and shall be sent (i) by personal delivery, overnight delivery by a
recognized courier or delivery service, or (ii) mailed by registered or
certified mail, return receipt requested, postage prepaid, or (iii) by
confirmed telecopy accompanied by mailing of the original on the same
day by first class mail, postage prepaid, in each case to the parties
at their address set forth below (or to such other address as any such
party may hereafter designate by written notice to the other parties).
If to the Sellers, then to the Seller?s Representative at:

Frank R. Bauer
3040 E. Commercial Blvd.
Fort Lauderdale, Florida 33308
Fax: (954) 776-0901
Tel: (954) 491-0704

If to the Buyer:

Worldwide Security Acquisitions, LLC
498 Palm Springs Drive, Suite 320
Altamonte Springs, Florida 32701
Fax: (407) 478-3856
Tel: (407) 478-4020
Attn: __________________

If to Escrow Agent:

Law Office of Eugene Michael Kennedy, P.A.
517 Southwest First Avenue
Fort Lauderdale, FL 33301
Fax: (954) 524-4169
Tel: (954) 524-4155
Attention: Eugene Michael Kennedy, Esq.

Section 10.  Miscellaneous.
   (a)  Binding Effect; Successors.  This Agreement shall be binding
upon the respective parties hereto and their heirs, executors,
successors and assigns.  If the Escrow Agent consolidates, merges or
converts into, or transfers all or substantially all of its corporate
trust business to, another corporation, the successor corporation
without any further act shall be the successor Escrow Agent.
   (b)  Consent to Jurisdiction and Service.  Each of the parties
hereby absolutely and irrevocably consents and submits to the
jurisdiction of the courts in Broward County, Florida in connection
with any actions or proceedings arising out of or relating to this
Escrow Agreement brought by any of the other parties.  In any such
action or proceeding, the parties each hereby absolutely and
irrevocably (i) waives any objection to jurisdiction or venue, (ii)
waives personal service of any summons, complaint, declaration or other
process, and (iii) agrees that the service thereof may be made by
certified or registered first-class mail directed to such party, as the
case may be, at their respective addresses in accordance with Section 8
hereof.  Each of the parties agrees that no action or proceeding may be
brought against Escrow Agent except in the courts of the State of
Florida, as applicable.
   (c)  Waiver of Jury Trial.
     THE PARTIES HEREBY WAIVE A TRIAL BY JURY OF ANY AND ALL ISSUES
ARISING IN ANY ACTION OR PROCEEDING BETWEEN THEM OR THEIR SUCCESSORS OR
ASSIGNS, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF ITS
PROVISIONS OR ANY NEGOTIATIONS IN CONNECTION HEREWITH.
   (d)  Force Majeure.  The Escrow Agent shall not be responsible for
delays or failures in performance resulting from acts beyond its
control.  Such acts shall include but not be limited to acts of God,
strikes, lockouts, riots, acts of war, epidemics, governmental
regulations superimposed after the fact, fire, communication line
failures, computer viruses, power failures, earthquakes or other
disasters
   (e)  Modifications.  This Agreement may not be altered or modified
without the express written consent of the parties hereto.  No course
of conduct shall constitute a waiver of any of the terms and conditions
of this Escrow Agreement, unless such waiver is specified in writing,
and then only to the extent so specified.  A waiver of any of the terms
and conditions of this Escrow Agreement on one occasion shall not
constitute a waiver of the other terms of this Escrow Agreement, or of
such terms and conditions on any other occasion.  Notwithstanding any
other provision hereof, consent to an alteration or modification of
this Agreement may not be signed by means of an e-mail address.
   (f)  Governing Law.  THIS ESCROW AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF FLORIDA.
   (g)  Reproduction of Documents.  This Agreement and all documents
relating thereto, including, without limitation, (a) consents, waivers
and modifications which may hereafter be executed, and (b) certificates
and other information previously or hereafter furnished, may be
reproduced by any photographic, photostatic, microfilm, optical disk,
micro-card, miniature photographic or other similar process.  The
parties agree that any such reproduction shall be admissible in
evidence as the original itself in any judicial or administrative
proceeding, whether or not the original is in existence and whether or
not such reproduction was made by a party in the regular course of
business, and that any enlargement, facsimile or further reproduction
of such reproduction shall likewise be admissible in evidence.
   (h)  Counterparts.  This Escrow Agreement may be executed in several
counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

         IN WITNESS WHEREOF, this Agreement has been executed as a sealed
instrument by the parties hereto or their duly authorized
representatives, effective as of the date first above written.
ESCROW AGENT

By:
       Eugene Michael Kennedy, Esq.
       Law Office of Eugene Michael Kennedy, P.A.

BUYER

Worldwide Security Acquisitions, LLC,
a Delaware corporation

By: /s/Asar Rabbani
    ---------------
    Asar Rabbani
=

SELLER?S REPRESENTATIVE

By: /s/Frank R. Bauer
    -----------------
    Frank R. Bauer,

As to Sellers:

By:
       Name:
       Title:
Address:

Telephone:
Facsimile:
Shares to be Sold:

By:
       Name:
       Title:
Address:
Telephone:
Facsimile:
Shares to be Sold:

By:
       Name:
       Title:
Address:
Telephone:
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By:
       Name:
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Address:

Telephone:
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By:
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By:
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By:
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By:
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Address:

Telephone:
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By:
       Name:
       Title:
Address:

Telephone:
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Shares to be Sold:

Exhibit ?A?

         			NUMBER			   PERCENTAGE OF
STOCKHOLDER			OF SHARES		   ISSUED & OUTSTANDING

         Total			========== 			==================

Exhibit ?B?

                     Buyer
Shares Purchased<PAGE>

EXHIBIT 10.23    Employment Agreement with Dr. Anil Shah, dated March 7, 2005.

                              EMPLOYMENT AGREEMENT
                              --------------------

         This employment agreement ("Agreement") is entered into this 7th day of
March, 2005 to be effective upon the first day that Integrated Healthcare
Holding, Inc., a Nevada Corporation ("Company") owns the four (4) hospitals
being divested by Tenet Healthcare System, in Orange County California,
specifically, Western Medical Center - Santa Ana; Western Medical Center -
Anaheim; Chapman Medical Center; and Coastal Communities Hospital, by and
between "Company" and Anil V. Shah ("Executive") hereinafter referred to as the
"Commencement Date."

                                    RECITALS
                                    --------

         A. The Company is engaged in the business of hospital acquisition and
management (the "Business").

         B. The Company wishes to employ Executive, and Executive agrees to
serve, as Executive Director of Company, subject to the terms and conditions set
forth below.

                                    AGREEMENT
                                    ---------

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth below, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, it is hereby agreed as follows:

         1. TERM OF EMPLOYMENT. The Company hereby employs Executive, and
Executive hereby accepts employment with the Company, for a period of three (3)
years commencing on the "Commencement Date" and ending on March 7, 2008, unless
terminated earlier in accordance with the provisions of Section 5 below.

2. POSITION AND DUTIES.

                                    10.23-1

<PAGE>

Executive shall serve as the Executive Chairman of the Board of Directors, of
the Company. Employee's principal duties and responsibilities shall be to, in
concert with the Chief Executive Officer, the President and the Chief Financial
Officer, set the overall strategies and direction of the Company and monitor and
oversee corporate performance, as well as to guide the Board of Directors, in
its role of oversight of corporate activities and performance. He shall report
to the Board of Directors of the Company. Except during vacation periods or in
accordance with the Company's personnel policies covering executive leaves and
reasonable periods of illness or other incapacitation, Executive shall devote
his services to the Company's Business and interests in a manner consistent with
Executive's title and office and the Company's needs for his services. Executive
agrees to perform his duties pursuant to this Agreement in good faith and in a
manner which he honestly believes to be in the best interests of the Company,
and with such care, including reasonable inquiry, as an ordinary prudent person
in a like position would use under similar circumstances. Executive shall at all
times be subject to and shall observe and carry out such reasonable rules,
regulations, policies, directions and restrictions as may be established and
communicated to him from time to time by the Company.

         3. PLACE OF PERFORMANCE. Executive shall perform his duties at the
Company's corporate headquarters in Costa Mesa, California or at such other
location as may from time to time be assigned to him, except for reasonable
work-related travel. In the event Company relocates its headquarters and/or
Executive's office outside of Orange County, Executive shall have the right, in
Executive's sole discretion, to elect to treat such action as a termination of
this Agreement without cause by Company as provided for in Section 5.3. However,
Executive agrees to exercise such right within thirty (30) days from receipt of
written notification by the Company that a decision has been made to relocate.
In the event Executive exercises his rights under this paragraph, Company shall
compensate Executive as provided in Section 5.3.

         4. COMPENSATION AND BENEFITS.

                  4.1 BASE SALARY. In consideration of Employee's performance of
all of his duties and responsibilities hereunder and his observance of all of
the covenants, conditions and restrictions contained herein, Employee shall be
entitled to receive a base salary, from the Commencement Date of this Agreement,
through the third anniversary hereof, of Five Hundred Thousand Dollars
($500,000) per annum. The base salary shall be payable in bi-weekly or other
periodic installments in accordance with the Company's payroll procedures in
effect from time to time. The base salary has been expressed in terms of a gross
amount, and the Company is or may be required to withhold from such gross amount
deductions in respect of federal, state or local income taxes, FICA and the
like. Employee's base salary for any renewal term hereof shall be determined by
the Compensation Committee of the Company's Board of Directors. Executive shall
receive base salary increases for each succeeding year of this Agreement as
determined by the Company's Board of Directors but in no event shall Executive's
base salary be decreased.

                  4.2 BONUS. Executive shall receive an annual bonus during the
term of his employment under this Agreement as determined by the Board of
Directors. Such bonus shall be payable to Executive no later than 60 days after
the end of each calendar year.

                  4.3  STOCK OPTIONS. The Company will grant Executive,
effective as of the Commencement Date, an option to purchase One Million shares
of the company's class A common stock, .001 value per share, at a price of the
mean average per share price for 10 days following the Commencement Date. This
option will be for a period of 3 consecutive years and will vest at the rate of
33% on each anniversary of this Agreement. Executive shall receive additional
stock options annually if certain company goals are met. Additional information
regarding Company's stock option plan shall be provided.

                  4.4 MEDICAL INSURANCE. Executive shall receive medical,
dental, vision and/or other health insurance in the same manner and scope as
similarly-situated senior Executives.

                                    10.23-2

<PAGE>

                  4.5 EXPENSES. Company shall reimburse Executive for
appropriate, reasonable business expenses incurred by Executive, in accordance
with the Company's general policy applicable to similarly-situated senior
executives. The Company shall pay the reasonable costs for Executive to maintain
membership in professional organizations.

                  4.6 LIFE AND DISABILITY INSURANCE AND RETIREMENT PLAN.
Executive shall be entitled to participate in any short-term disability plan,
long-term disability plan and life insurance plan and any pension or retirement
plan maintained by the Company for similarly-situated senior executives.

                  4.7 AUTOMOBILE ALLOWANCE. Executive shall receive an
automobile and insurance allowance of $1,000.00 per month.

                  4.8 CELLULAR TELEPHONE. Executive shall receive reimbursement
for reasonable expenses associated with Executive's use of a cellular telephone
in performing his services.

                  4.9 VACATION. Executive shall be entitled to four weeks of
paid vacation each year of this Agreement in accordance with the standard
vacation policies of Company applicable to similarly-situated senior executives.

                  4.10 OTHER EMPLOYEE BENEFITS. Executive shall receive all
other employee benefits and participate in all other employee benefit plans
provided by the Company to similarly-situated senior Executives.

         5. TERMINATION.

                  5.1 BY COMPANY FOR CAUSE. Notwithstanding Section 1, the
employment period may be terminated by the Company at any time for "cause." For
purposes of this Section 5.1, "cause" shall mean (i) the commission by Executive
of a felony or other crime involving moral turpitude or (ii) any willful and
dishonest act committed by Executive that materially breaches Executive's duties
or obligations under this Agreement. If Company terminates Executive for "cause"
under this Section 5.1, Executive shall be entitled to receive all accrued
salary, benefits, and vested stock options, through the date of termination.

                  5.2 BY EXECUTIVE FOR CAUSE. Executive may resign from his
employment with Company for "cause." For purposes of this Section 5.2, "cause"
shall mean (i) the removal of Executive as Executive Chairman of the Board of
the Company , (ii) any material diminution or modification of Executive's normal
duties, responsibilities and authority under this Agreement, (iii) any change in
Executive's direct reporting relationship to the Board of Directors, (iv) any
material breach of this agreement by Company, (v) the dissolution, or bankruptcy
of the Company, (vi) any person, entity or group of affiliated persons and
entities having more than 50% of the outstanding voting securities of the
Company which sells, transfers, disposes or otherwise relinquishes their
interest in the Company. If Executive wishes to resign after a change of control
he must exercise such right within 10 days after written notification of such
change of control. If Executive resigns for "cause" under this Section 5.2,
Executive shall receive all salary, benefits, health and dental insurance,
bonuses, and stock options for a period of 12 months, but will not accrue
additional Paid Time Off, vacation or other sick pay benefits, if Executive
signs the Severance Agreement attached as exhibit A, within sixty (60) days of
his separation date.

                  5.3 BY COMPANY WITHOUT CAUSE. The Board of Directors may
terminate executive without cause upon thirty (30) days' written notice to
Executive. If the Board terminates Executive without cause, Executive shall
receive all salary, benefits, health and dental insurance, bonuses and stock
options for a period of twelve (12) months, but will not accrue additional Paid
Time Off, vacation or other sick pay benefits, if Executive signs the severance
agreement attached as exhibit A, within thirty (30) days of his separation date.

                                    10.23-3

<PAGE>

            Company's Initials:                 Executive's Initials:

            __________________                  _____________________

                  5.4. BY EXECUTIVE WITHOUT CAUSE. Executive may resign without
cause upon sixty (60) days' written notice to Company. If Executive resigns
without cause, Executive shall be entitled to receive all accrued salary,
benefits, and vested stock options, and accrued Paid Time Off, other vacation
and/or sick pay benefits through the date of resignation.

                  5.5 NO MITIGATION REQUIRED. In the event of an employment
termination under Sections 5.2 and 5.3 above, Executive shall not be required to
mitigate the amount of any payments under Sections 5.2 and 5.3 by seeking other
employment, and any payments by Company under Sections 5.2 and 5.3 shall not be
reduced by the amount of any payments or benefits earned by Executive as a
result of other employment or remunerative relationship.

                  5.6. DEATH OR DISABILITY. The Board shall be entitled to end
Executive's employment if Executive dies or becomes disabled. Executive shall be
deemed "disabled" for purposes of this Agreement if he is unable, by reason of
illness, accident, or other physical or mental incapacity, to perform
substantially all of his normal duties for a continuous period of ninety (90)
days. In the event Executive's employment ends on account of his death or
disability, Executive (or Executive's surviving spouse or estate if applicable)
shall continue to receive all of Executive's compensation, prorata bonus,
benefits and stock options owed under this Agreement for a period of one year.
However, Paid Time Off, vacation pay or other sick pay benefits shall not accrue
during this period. All stock options which have not vested under this Agreement
shall immediately vest and Executive (or his surviving spouse or estate if
applicable) shall have the right to all benefits associated with such vesting
upon separation. Executive's separation from Company on account of death or
disability shall not constitute a termination for cause by Company under this
Agreement.

         6. INDEMNIFICATION. To the extent permitted by law, Company shall
defend, indemnify and hold Executive harmless from and against any and all
losses, liabilities, damages, expenses (including attorneys' fees and costs),
actions, causes of action or proceedings arising directly or indirectly from
Executive's performance of this Agreement or services as an employee of Company,
except claims arising from employee's intentional misconduct or gross
negligence. The Company shall control the defense of such claim(s). This
indemnification shall be in addition to any right of indemnification to which
Executive may be entitled under Company's Articles of Incorporation and By-Laws.
With the prior approval of the Company which may be withheld in the Company's
sole and absolute discretion, Executive may retain his own counsel to defend him
in such actions in which case Company shall pay for the reasonable costs and
expenses of such counsel.

         7. CONFIDENTIALITY AND EXCLUSIVITY.

                                    10.23-4

<PAGE>

                  7.1 CONFIDENTIALITY.  During the term of Executive's
employment under this Agreement and thereafter, Executive will keep confidential
and will not directly or indirectly reveal, divulge or make known in any manner
to any person or entity (except as required by applicable law or in connection
with the performance of his duties and responsibilities as an Executive
hereunder) nor use or otherwise appropriate for Executive's own benefit, or on
behalf of any other person or entity by whom Executive might subsequently be
employed or otherwise associated or affiliated with, any Confidential
Information. Confidential Information shall include information (not readily
compiled from publicly available sources) which is made available to Executive
or obtained by Executive during the course of his employment relating or
pertaining to the Company's trade secrets, such as financial information,
technical information and /or business plans and strategies. Executive agrees to
cooperate with the Company to maintain the secrecy of and limit the use of such
Confidential Information.

                  7.2 EXCLUSIVITY. During the term of Executive's employment
under this Agreement, Executive shall not enter into the services of or be
employed in any capacity or for any purposes whatsoever, whether directly or
indirectly, by any person, firm corporation or entity other than the Company,
and will not, during such period of time, be engaged in any business, enterprise
or undertaking other than employment by the Company except in the
non-compensated position as Manager, Orange County Physicians Investment Network
and in his part-time practice of cardiology, so long as those activities do not
detract from the full discharge of Employee's duties hereunder.

                  7.3 ENFORCEMENT. Company and Executive recognize and
acknowledge that Executive is employed under this Agreement as an Executive in a
position where Executive will be rendering personal services of a special,
unique, unusual and extraordinary character requiring extraordinary ingenuity
and effort by Executive. Executive hereby acknowledges that compliance with the
provisions of Section 7 of the Agreement is necessary to protect the goodwill
and other proprietary interests of the Company and that the Company would suffer
continuing and irreparable injury which injury is not adequately compensable in
monetary damages or at law. Accordingly, Executive agrees that the Company may
obtain injunctive relief against the breach or threatened breach of the
foregoing provisions, in addition to any other legal remedies which may be
available to it under this Agreement.

         8. PROPRIETARY RIGHTS AND MATERIALS. All documents, memoranda, reports,
notebooks, correspondence, files, lists and other records, and the like,
designs, drawings, specifications, computer software and computer equipment,
computer printouts, computer disks, and all photocopies or other reproductions
thereof, affecting or relating to the Business of the Company ("Materials"),
shall be and remain the sole property of the Company. Upon termination of this
Agreement, Executive shall deliver promptly to the Company all such Company
Materials.

         9. NO ASSIGNMENT. This Agreement shall be binding upon the Company and
Executive. Neither Company nor Executive is permitted to assign any rights or
duties under this Agreement. In the event Company assigns any of its rights or
duties under this Agreement, Executive shall have the right, in Executive's sole
discretion, to elect to treat such action as a termination of this Agreement
without cause by Company as provided for in Section 5.3. However, Executive
agrees to exercise such right within thirty (30) days from receipt of written
notification by the Company that a decision has been made to assign this
Agreement. In the event Executive exercises his rights under this paragraph,
Company shall compensate Executive as provided in Section 5.3.

         10. NOTICES. Any notices required or permitted to be sent under this
Agreement shall be delivered by hand or mailed by registered or certified mail,
return receipt requested, and addressed as follows:

         If to Company:
         Larry B. Anderson President
         Integrated Healthcare Holdings, Inc
         695 Town Center Drive
         Suite 260
         Costa Mesa, CA  92626

                                    10.23-5

<PAGE>

         If to Executive:
         Anil V. Shah, M.D.
         2621 Bristol Street, Suite 108
         Santa Ana, CA. 92704

         Either party may change its address for receiving notices by giving
written notice to the other party.

         12.      MISCELLANEOUS PROVISIONS.

                  12.1 ARBITRAL CLAIMS. To the fullest extent permitted by law,
all disputes between Executive (and his attorneys, successors, and assigns) and
Company (and its Affiliates, shareholders, directors, officers, employees,
agents, successors, attorneys, and assigns) relating in any manner whatsoever to
the employment or termination of Executive's employment, including, without
limitation, all disputes arising under this Agreement, ("Arbitral Claims") shall
be resolved by arbitration. All persons and entities specified in the preceding
sentence (other than Employer and Employee) shall be considered third-party
beneficiaries of the rights and obligations created by this Section on
Arbitration. Arbitral Claims shall include, but are not limited to, contract
(express of implied) and tort claims of all kinds, as well as all claims based
on any federal, state, or local law, statute, or regulation, excepting only
claims under applicable workers' compensation law and unemployment insurance
claims. By way of example and not in limitation of the foregoing, Arbitral
Claims shall include (to the fullest extent permitted by law) any claims arising
under Title VII of the Civil Rights Act of 1964, the Age Discrimination in
Employment Act, the Americans with Disabilities Act, and the California Fair
Employment and Housing Act, as well as any claims asserting wrongful
termination, harassment, breach of contract, breach of covenant of good faith
and fair dealing, negligent or intentional infliction of emotional distress,
negligent or intentional misrepresentation, negligent or intentional
interference with contract or prospective economic advantage, defamation,
invasion of privacy, and claims related to disability. The parties consent to
jurisdiction and venue in Orange County, California.

                PROCEDURE. Arbitration of Arbitral Claims shall be through
Judicial Arbitration and Mediation Service (JAMS), in Orange County, California,
in accordance with JAMS' rules and regulations then in effect. Arbitration shall
be final and binding upon the parties and shall be the exclusive remedy for all
Arbitral Claims. Either party may bring an action in court to compel arbitration
under this Agreement and to enforce an arbitration award. Otherwise, neither
party shall initiate or prosecute any lawsuit or administrative action in any
way related to any Arbitral Claim. Notwithstanding the foregoing, and only to
the extent allowed by law, either party may, at its option, seek injunctive
relief pursuant to section 1281.8 of the California Code of Civil Procedure. All
arbitration hearings under this Agreement shall be conducted in Orange County,
California. In any arbitration proceeding under this Agreement, the parties
shall have the same rights to discovery as would be available in a proceeding in
California Superior Court, as provided in section 1283.05 of the California Code
of Civil Procedure. The decision of the arbitrator shall be in writing and shall
include a statement of the essential conclusions and findings upon which the
decision is based. The interpretation and enforcement of this agreement to
arbitrate shall be governed by the California Arbitration Act.

                                    10.23-6

<PAGE>

 THE PARTIES HEREBY WAIVE ANY RIGHTS THEY MAY HAVE TO TRIAL BY JURY IN REGARD TO
ARBITRABLE CLAIMS, INCLUDING WITHOUT LIMITATION ANY RIGHT TO TRIAL BY JURY AS TO
THE MAKING, EXISTENCE, VALIDITY, OR ENFORCEABILITY OF THE AGREEMENT TO
ARBITRATE.

         Company's Initials:                            Executive's Initials:

            __________________                  _____________________

         12.2 ARBITRATOR SELECTION AND AUTHORITY. All disputes involving
Arbitral Claims shall be decided by a single arbitrator. The arbitrator shall be
selected by mutual agreement of the parties within thirty (30) days of the
effective date of the notice initiating the arbitration. If the parties cannot
agree on an arbitrator, then the complaining party shall notify JAMS and request
selection of an arbitrator in accordance with JAMS' rules. The arbitrator shall
have only such authority to award equitable relief, damages, costs and fees as a
court would have for the particular claim(s) asserted. The fees of the
arbitrator shall be paid equally by the parties. The parties shall each be
responsible for whatever costs they would have otherwise incurred had their
claims been filed in court. If the allocation of responsibility for payment of
the arbitrator's fees would render the obligation to arbitrate unenforceable,
the parties authorize the arbitrator to modify the allocation as necessary to
preserve enforceability. The arbitrator shall have exclusive authority to
resolve all Arbitral Claims, including, but not limited to, whether any
particular claim is arbitral and whether all or any part of this Agreement is
void or unenforceable.

         12.3 CONTINUING OBLIGATIONS. The rights and obligations of Executive
and Company set forth in this Section on Arbitration shall survive the
termination of Executives' employment and the expiration of this Agreement.

         12.4 ATTORNEYS' FEES. In the event of a dispute relating to this
Agreement, the prevailing party shall be entitled to recover its reasonable
legal fees and costs.

         12.5 SEVERABLE PROVISIONS. The provisions of this Agreement are
severable, and if any provision shall be determined to be unenforceable, in
whole or in part, the remaining provisions shall nevertheless be binding and
enforceable.

         12.6 NON-WAIVER. The failure of either party to insist on strict
compliance with any of the terms and conditions of this Agreement by the other
party shall not be deemed a waiver of that term or condition, nor shall any
waiver or relinquishment of any right or power at any one time or times be
deemed a waiver or relinquishment of that right or power for all or any other
times.

                                    10.23-7

<PAGE>

         12.7 ENTIRE AGREEMENT. This Agreement and those documents expressly
referred to herein embody the complete agreement and understanding among the
parties and supersede and preempt any prior understandings, agreements or
representations by or among the parties, written or oral, which may have related
to the subject matter hereof in any way.

         12.8 CONTROLLING LAW. This Agreement shall be construed and interpreted
in accordance with California law.

         12.9 AMENDMENT. This Agreement shall not be amended, released,
discharged, changed or modified in any manner, except by an instrument signed by
the parties.

         12.10 PHOTOCOPIES AND COUNTERPARTS. This Agreement may be executed in
counterparts, each of which shall be deemed an original and together shall
constitute one complete instrument. Photocopies and facsimiles of such signed
counterparts may be used in lieu of the originals for any purpose.

         12.11 NO STRICT CONSTRUCTION. The language used in this Agreement shall
be deemed to be the language chosen by the parties hereto to express their
mutual intent, and no rule of strict construction shall be applied against any
party.

         12.12 AUTHORITY. Any person or entity purporting to have the authority
to enter into this Agreement on behalf of or for the benefit of any other person
or entity hereby warrants that it has such authority. The parties agree to sign
any forms or documents necessary to effectuate their intent under this
Agreement.

         IN WITNESS WHEREOF, the parties hereto have executed this Agreement on
the date first written above.

Dated: March 1, 2005                      Integrated Healthcare Holdings, Inc.
                                             A Nevada Corporation

                                             By:  /s/ Larry B. Anderson
                                                ---------------------------
                                                Larry B. Anderson
                                                President

Dated: April  6, 2005                        By:  /s/ Anil V. Shah
                                                ---------------------------
                                                Anil V. Shah
                                                Chairman of the Board

                                    10.23-8

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