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CUSIP NO. 743832107 PAGE 6 OF 7 PAGES
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EXHIBIT 99.1
AGREEMENT AS TO STOCK OPTIONS
This Agreement, dated as of June 18, 1996, is between Richard E. Field
("Field") and Arthur J. Ivey ("Ivey").
Reference is made to a Field Stock Option Agreement (the "Option
Agreement") of even date herewith between Provident American Corporation
("PAMCO") and Field.
In consideration of Ten ($l0) Dollars and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Field hereby agrees to convey one-half of all of his rights under the Option
Agreement to Ivey and, in connection therewith, agrees to forward to PAMCO a
notification letter in the form of EXHIBIT A hereto.
Signed under seal as of the date first above written.
/s/ Richard E. Field
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Richard E. Field
/s/ Arthur J. Ivey
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Arthur J. Ivey
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CUSIP NO. 743832107 PAGE 7 OF 7 PAGES
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EXHIBIT "A"
June __, 1996
Provident American Corporation
2500 DeKalb Pike
P.O. Box 511
Norristown, PA 19404-0511
Ladies and Gentlemen:
Reference is made to a Stock Option Agreement dated as of January 1, 1996
between you and the undersigned. Pursuant to an agreement between the
undersigned and Arthur J. Ivey, the undersigned has assigned to Mr. Ivey
one-half of the undersigned's right, title, and interest in and to the Stock
Option Agreement. Enclosed is the Stock Option Agreement together with a duly
executed assignment. It is requested that two new stock option agreements be
issued one to Mr. Ivey, and one to the undersigned to reflect this assignment.
This request is irrevocable.
Very truly yours,
Richard E. Field
REF:
Enclosure
