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<P align="center"><FONT size="2">As filed with the Securities and Exchange Commission on December&nbsp;6, 2002
</FONT>
<P align="right"><FONT size="2">Registration No.&nbsp;333-_________</FONT>


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<P align="center"><FONT size="4"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></FONT>


<DIV align="center"><FONT size="3">Washington, D.C. 20549</FONT></DIV>


<P align="center"><FONT size="5"><B>Form&nbsp;S-8</B></FONT>


<P align="center"><FONT size="3">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
</FONT>
<P align="center"><FONT size="6"><B>ADVANCEPCS</B></FONT>


<DIV align="center"><FONT size="2">
(Exact name of registrant as specified in its charter)</FONT></DIV>

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        <TD width="44%">&nbsp;</TD>
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        <TD align="center" valign="top"><FONT size="2"><B>Delaware</B><BR>
(State or other jurisdiction of<BR>
incorporation or<BR>
organization)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>75-2493381</B><BR>
(I.R.S. Employer<BR>
Identification No.)</FONT></TD>
</TR>
</TABLE>
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<P align="center"><FONT size="2"><B>750 West John Carpenter<BR>
Freeway, Suite&nbsp;1600<BR>
Irving, Texas 75039</B><BR>
(Address of Principal Executive Offices)
</FONT>
<P align="center"><FONT size="2"><B>ADVANCEPCS<BR>
DEFERRED COMPENSATION PLAN</B><BR>
(Full title of the plan)
</FONT>
<P align="center"><FONT size="2">David D. Halbert<BR>
Chairman of the Board and Chief Executive Officer<BR>
750 West John Carpenter Freeway, Suite&nbsp;1200<BR>
Irving, Texas 75039<BR>
(469)&nbsp;524-4700
</FONT>
<P align="center"><FONT size="2">(Name and address, including zip code, and telephone number,<BR>
including area code, of agent for service)
</FONT>
<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B>
</FONT>
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        <TD width="4%">&nbsp;</TD>
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        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
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        <TD nowrap align="center"><FONT size="1"><B>Title of securities</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>offering price per</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>aggregate offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>to be registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>registered</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>share (2)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>price (2)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>registration fee</B></FONT></TD>
</TR>
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        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
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        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Deferred Compensation
Obligations (1)</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">8,093,800</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD nowrap align="right"><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">100</FONT></TD>
        <TD nowrap><FONT size="2">%</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">8,093,800</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">744.63</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
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<P>

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      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">The Deferred Compensation Obligations are unsecured obligations of
AdvancePCS to pay deferred compensation in the future to certain of its
employees in accordance with the terms of the AdvancePCS Deferred
Compensation Plan.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of determining the registration
fee.</FONT></TD>
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<P align="center"><FONT size="2">
&nbsp;</FONT>
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;1. Plan Information.*</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;2. Registrant Information and Employee Plan Annual Information.*</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">PART II</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">Item&nbsp;3. Incorporation of Certain Documents by Reference.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">Item&nbsp;4. Description of Securities.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">Item&nbsp;5. Interests of Named Experts and Counsel.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">Item&nbsp;6. Indemnification of Directors and Officers.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">Item&nbsp;7. Exemption from Registration Claimed.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">Item&nbsp;8. Exhibits.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">Item&nbsp;9. Undertakings.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#011">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="d01738exv4w1.txt">EX-4.1 Deferred Compensation Plan</A></TD></TR>
<TR><TD colspan="9"><A HREF="d01738exv5w1.txt">EX-5.1 Opinion/Consent of Counsel</A></TD></TR>
<TR><TD colspan="9"><A HREF="d01738exv23w1.txt">EX-23.1 Consent of PricewaterhouseCoopers LLP</A></TD></TR>
</TABLE>
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<!-- link1 "PART I" -->
<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART I</B></FONT>


<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</FONT>
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<DIV align="left"><A NAME="001"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;1. Plan Information.*</B></FONT>


<!-- link2 "Item&nbsp;2. Registrant Information and Employee Plan Annual Information.*" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;2. Registrant Information and Employee Plan Annual Information.*</B></FONT>


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        <TD valign="top"><FONT size="2">*Information required by Part I to be contained in the Section&nbsp;10(a)
prospectus is omitted from this Registration Statement in accordance
with Rule&nbsp;428 under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), and the Note to Part I of Form&nbsp;S-8.</FONT></TD>
</TR>
</TABLE>
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<DIV align="left"><A NAME="003"></A></DIV>
<P align="center"><FONT size="2"><B>PART II</B></FONT>


<!-- link2 "Item&nbsp;3. Incorporation of Certain Documents by Reference." -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></FONT>


<P align="left"><FONT size="2"><B>Item&nbsp;3. Incorporation of Certain Documents by Reference.</B></FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by the Registrant with the Securities and
Exchange Commission (the &#147;Commission&#148;) are incorporated by reference in this
Registration Statement:
</FONT>
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        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">The Registrant&#146;s Annual Report on Form&nbsp;10-K for the fiscal year
ended March&nbsp;31, 2002, filed pursuant to Section&nbsp;13(a) of the
Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;) (File
No.&nbsp;0-21447);</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">The Registrant&#146;s Quarterly Report on Form&nbsp;10-Q for the quarterly
period ended June&nbsp;30, 2002, filed pursuant to Section&nbsp;13(a) or 15(d)
of the Exchange Act (File No.&nbsp;0-21447);</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">The Registrant&#146;s Quarterly Report on Form&nbsp;10-Q for the quarterly
period ended September&nbsp;30, 2002, filed pursuant to Section&nbsp;13(a) or
15(d) of the Exchange Act (File No.&nbsp;0-21447);</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
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        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(4)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">All other reports filed by the Registrant pursuant to Section
13(a) or 15(d) of the Exchange Act since June&nbsp;30, 2002; and</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(5)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">The description of the Registrant&#146;s Class&nbsp;A Common Stock
contained in the Registrant&#146;s Registration Statement on Form&nbsp;8-A/A, as
filed with the Commission on December&nbsp;14, 2000, including any
amendments or reports filed for the purpose of updating such
description.</FONT></TD>
</TR>
</TABLE>
<P><FONT size="2">In addition, all documents subsequently filed by the Registrant pursuant to
Sections&nbsp;13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of
a post-effective amendment which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this Registration Statement and to be
a part hereof from the date of filing of such documents. Statements contained
in this Registration Statement or in a document incorporated by reference may
be modified or superseded by later statements in this Registration Statement or
by statements in subsequent documents incorporated by reference, in which case
you should refer to the later statement.
</FONT>
<P><FONT size="2">Arthur Andersen LLP (&#147;Arthur Andersen&#148;), which audited our financial statements
for the years ended March&nbsp;31, 2000 and March&nbsp;31, 2001, no longer serves as
AdvancePCS&#146;s independent public accountant. Arthur Andersen consented to the
inclusion of their report in the annual reports and registration statements we
filed prior to January&nbsp;31, 2002 but not after such date. Some changes to the
financial statements covered by Arthur Andersen LLP&#146;s report for 2000 and 2001
were made after January&nbsp;31, 2002, but we do
</FONT>

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2</FONT>
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<P><FONT size="2">not believe these changes materially affect the financial results covered by
Arthur Andersen&#146;s report. A complete discussion of these changes is located in
Notes 2 and 15 to the financial statements included in the Form&nbsp;10-K for the
year ended March&nbsp;31, 2002, which is incorporated by reference in this
Registration Statement.
</FONT>
<P><FONT size="2">We have not been able to obtain, after reasonable efforts, the written consent
of Arthur Andersen, as required under Section&nbsp;7 of the Securities Act of 1933,
to the inclusion of their reports in this prospectus, and we have dispensed
with the requirement to file their consent in reliance on Rule&nbsp;437(a). As a
result, holders of our securities, whether acquired under employee benefit
plans, on the open market, or otherwise, may have no effective remedy against
Arthur Andersen if there is a material misstatement or omission in the
financial statements incorporated by reference in this prospectus. In
particular, because of this lack of consent, holders of our securities will not
be entitled to recovery against Arthur Andersen under Section&nbsp;11 of the
Securities Act of 1933 for any untrue statements of material fact contained in
the financial statements audited by Arthur Andersen or any omissions to state a
material fact required to be stated in those financial statements.
</FONT>
<!-- link2 "Item&nbsp;4. Description of Securities." -->
<DIV align="left"><A NAME="005"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;4. Description of Securities.</B></FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following description of our &#147;obligations&#148; under the AdvancePCS
Amended and Restated Deferred Compensation Plan (the &#147;Deferred Compensation
Plan&#148;) does not purport to be a complete description of the terms and
conditions of the Deferred Compensation Plan and is qualified in its entirety
by reference to the plan document, a copy of which is attached as an exhibit to
this registration statement. The Deferred Compensation Plan supercedes in its
entirety the PCS Health Systems, Inc. Deferred Compensation Plan (the
&#147;Predecessor Plan&#148;). The Deferred Compensation Plan is intended to provide a
select group of management and highly compensated employees and non-employee
directors (each such individual, a &#147;Participant&#148;) with an opportunity to defer
a portion of their pre-tax compensation and accumulate tax-deferred earnings
(or losses) thereon. Each Participant and each of their beneficiaries, heirs,
successors and assigns is an unsecured general creditor of AdvancePCS (the
&#147;Company&#148;) with respect to his or her own Deferred Compensation Plan benefits.
For purposes of the payment of benefits under the Deferred Compensation Plan,
any and all of the Company&#146;s assets shall be, and remain, general, unpledged
and unrestricted assets. The Company&#146;s obligations to pay deferred compensation
under the Deferred Compensation Plan, which we refer to as the &#147;obligations,&#148;
shall be that of an unfunded and unsecured promise to pay the money or property
in the future. The Deferred Compensation Plan is unfunded for tax purposes and
for purposes of Title I of ERISA and the Deferred Compensation Plan is
maintained solely for the purpose of providing retirement benefits for
Participants in excess of certain statutory limitations.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject to the terms and conditions set forth in the Deferred Compensation
Plan and conditions that the plan administrator may determine, each Participant
may elect to defer all or a portion (subject to applicable minimums) of his or
her base annual salary, annual bonus, commissions, performance awards,
directors&#146; fees, or stock option gains, as applicable. The amount of
compensation to be deferred by each Participant is based on elections made by
the Participant in accordance with the terms of the Deferred Compensation Plan.
Deferred stock option gains will be credited or debited to each Participant&#146;s
account in the form of additional shares of the Company&#146;s common stock, .001
par value, or certain other equity securities of the Company (&#147;Stock&#148;) and
shall be computed as follows: (i)&nbsp;the total fair market value of the shares of
Stock held or acquired as a result of the exercise of an Eligible Stock Option
(as such term is defined in the Deferred Compensation Plan) using a
stock-for-stock payment method, minus (ii)&nbsp;the total exercise price for such
shares of Stock. For each year of the Deferred Compensation Plan, the Company
may, in its sole discretion, credit a Participant&#146;s company discretionary
contribution account established under the Deferred Compensation Plan. For each
year of the Deferred Compensation Plan, the Company may also be required to
credit amounts to a Participant&#146;s company discretionary contribution account in
accordance with such Participant&#146;s employment or other agreements entered into
between the Participant
</FONT>

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<P><FONT size="2">and the Company. Additionally, for each year of the Deferred Compensation Plan
and pursuant to the terms of the Deferred Compensation Plan, the Company shall
credit to each Participant an amount equal to the Annual Company Restoration
Matching Amount (as defined below). A Participant&#146;s Annual Company Restoration
Matching Amount for any year of the Deferred Compensation Plan shall be equal
to (i)&nbsp;the &#147;match&#148; provided in the AdvancePCS Employee Savings Plan, as amended
(the &#147;401(k) Plan&#148;) that the Company would have credited to the Participant on
the amount of base salary deferred into the Deferred Compensation Plan for such
year had such base salary deferral been contributed to the 401(k) Plan, to the
extent allowable under the limitations applicable to the 401(k) Plan, reduced
by (ii)&nbsp;the amount of the &#147;match&#148; the Company makes to the Participant during
such year under the 401(k) Plan.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except with respect to deferred stock option gains and the portion of a
Participant&#146;s account balance which is attributable to the rollover amount
under the Predecessor Plan, each Participant must select from a range of
notional investment alternatives chosen by the plan administrator for the
purpose of crediting or debiting additional amounts to the Participant&#146;s
account balance (&#147;measurement alternatives&#148;). The amount of the obligations
payable to each Participant will increase or decrease based on the investment
returns of the chosen measurement alternatives. A Participant&#146;s election of a
measurement alternative, the allocation of a Participant&#146;s account balance to
such measurement alternative and the crediting and debiting of amounts to a
Participant&#146;s account under the Deferred Compensation Plan are not to be
construed as an actual investment of his or her account in any such measurement
alternative or as any investment made on his or her behalf by the Company. The
Company may establish a trust to which we may, in our discretion, contribute
cash or other property, including securities issued by the Company, to provide
for the benefit payments under the Deferred Compensation Plan. Participants
and their beneficiaries, heirs, successors and assigns shall have no legal or
equitable rights, interests or claims in any property or assets of the Company.
All deferrals by Participants become general, unpledged and unrestricted
assets of the Company, and thus, Participants will not have an ownership
interest in any of the assets of the Company of the Deferred Compensation Plan
or in the measurement alternatives they choose, and the Participants&#146; deferrals
will be subject to the claims of our general creditors in the event of our
bankruptcy or insolvency.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The obligations will become due in the event of a Participant&#146;s
retirement, death, other termination of employment or disability or on such
other date as a Participant elects, and in the form elected by the Participant
in accordance with the terms of the Deferred Compensation Plan. Participants
may also take early distributions from the Deferred Compensation Plan with a
penalty or petition for early distributions without a penalty in the event of
hardship. All distributions from a Participant&#146;s deferred stock option gains
will be in the form of Stock, without any interest, depreciation or
appreciation therein. All other distributions shall be in cash in lump sum or,
in certain circumstances as permitted by the Deferred Compensation Plan, in
installments. Benefit payments under the Deferred Compensation Plan, when
received, are considered ordinary income, subject to income taxes and
withholding.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither a Participant nor any other person shall have any right to
commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise
encumber, transfer, hypothecate, alienate or convey in advance of actual
receipt, the Deferred Compensation Plan benefits, and all obligations are
unassignable and non-transferable. No part of the Deferred Compensation Plan
benefits shall, prior to actual payment, be subject to seizure, attachment,
garnishment or sequestration for the payment of any debts, judgments, alimony
or separate maintenance owed by a Participant or any other person, be
transferable by operation of law in the event of a Participant&#146;s or any other
person&#146;s bankruptcy or insolvency or be transferable to a spouse as a result of
a property settlement or otherwise other than to our creditors in the event of
our bankruptcy or insolvency. Each Participant may designate one or more
beneficiaries to receive benefits upon such Participant&#146;s death.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The total amount of obligations under the Deferred Compensation Plan being
registered pursuant to this Registration Statement is $8,093,800.
</FONT>

<P align="center"><FONT size="2">
4</FONT>
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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We may terminate or completely or partially amend the Deferred
Compensation Plan. No such termination shall adversely affect any Participant
or his or her beneficiary who has become entitled to the payments of any
benefits under the Deferred Compensation Plan as of the date of termination,
and no such amendment shall decrease or restrict the value of a Participant&#146;s
account under the Deferred Compensation Plan in existence at the time the
amendment is made.
</FONT>
<!-- link2 "Item&nbsp;5. Interests of Named Experts and Counsel." -->
<DIV align="left"><A NAME="006"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B></FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<!-- link2 "Item&nbsp;6. Indemnification of Directors and Officers." -->
<DIV align="left"><A NAME="007"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B></FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AdvancePCS, a Delaware corporation, is empowered by Section&nbsp;145 of the
Delaware General Corporation Law, or DGCL, subject to the procedures and
limitations stated therein, to indemnify certain parties. Section&nbsp;145 of the
DGCL provides in part that a corporation shall have the power to indemnify any
Person who was or is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding (other than an
action by or in the right of the corporation) by reason of the fact that such
Person is or was a director, officer, employee or agent of the corporation, or
is or was serving at the request of the corporation as a director, officer,
employee or agent of another corporation or other enterprise, against expenses
(including attorneys&#146; fees), judgments, fines and amounts paid in settlement
actually and reasonably incurred by him in connection with such action, suit or
proceeding if he acted in good faith and in a manner he reasonably believed to
be in or not opposed to the best interests of the corporation, and, with
respect to any criminal action or proceeding, had no reasonable cause to
believe his conduct was unlawful. Similar indemnity is authorized for such
Persons against expenses (including attorneys&#146; fees) actually and reasonably
incurred in defense or settlement of any threatened, pending or completed
action or suit by or in the right of the corporation, if such Person acted in
good faith and in a manner he reasonably believed to be in or not opposed to
the best interests of the corporation, and provided further that (unless a
court of competent jurisdiction otherwise provides) such Person shall not have
been adjudged liable to the corporation. Where an officer or a director is
successful on the merits or otherwise in the defense of any action referred to
above, the corporation must indemnify him against the expenses that such
officer or director actually and reasonably incurred. Section&nbsp;145 further
provides that any indemnification, unless ordered by a court, shall be made by
the corporation only as authorized in each specific case upon a determination
that indemnification of such Person is proper because he has met the applicable
standard of conduct. Pursuant to Section&nbsp;145, such determination shall be made,
with respect to a Person who is a director or officer at the time of such
determination, by: (i)&nbsp;the stockholders; (ii)&nbsp;by a majority vote of the
directors who are not parties to such action, suit or proceeding even if less
than a quorum; (iii)&nbsp;a committee of directors who are not parties to such
action, suit or proceeding designated by majority vote by such disinterested
directors even if less than a quorum; or (iv)&nbsp;an independent legal counsel in a
written opinion, if there are no such disinterested directors, or if such
disinterested directors so direct.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section&nbsp;145 provides further that indemnification pursuant to its
provisions is not exclusive of other rights of indemnification to which a
Person may be entitled under any bylaw, agreement, vote of stockholders or
disinterested directors or otherwise.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;IX of the Second Amended and Restated Certificate of Incorporation
of AdvancePCS, or certificate, eliminates the personal liability of
AdvancePCS&#146;s directors to the fullest extent permitted by the DGCL, as amended.
Section&nbsp;102(b)(7) of the DGCL permits a company&#146;s certificate of incorporation
to eliminate or limit personal liability of a director to the corporation or
its stockholders for monetary damages for breach of fiduciary duty as a
director, provided that such provision shall not eliminate or limit the
liability of a director: (i)&nbsp;for any breach of the director&#146;s duty of loyalty
to the corporation or its
</FONT>

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5</FONT>
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<P><FONT size="2"> stockholders; (ii)&nbsp;for acts or omissions not in good faith or which
involve intentional misconduct or a knowing violation of law; (iii)&nbsp;under
Section&nbsp;174 of the DGCL (which addresses director liability for unlawful
payment of a dividend or unlawful stock purchase or redemption) or (iv)&nbsp;for any
transaction from which the director derived an improper personal benefit.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;X of the certificate provides that AdvancePCS shall indemnify any
and all Persons whom it has the power to indemnify to the fullest extent
permitted under applicable law, and such indemnity shall continue as to a
Person who has ceased to be a director, officer, employee or agent and shall
inure to the benefit of the heirs, executors and administrators of such a
Person.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The right to indemnification under Article&nbsp;X of the certificate is a
contract right which includes, with respect to directors and officers, the
right to be paid by AdvancePCS the expenses incurred in defending any such
proceeding in advance of its disposition; provided, however, that, if the DGCL
requires, the payment of such expenses incurred by a director or officer in
advance of the final disposition of a proceeding shall be made only upon
delivery to AdvancePCS of an undertaking, by or on behalf of such director or
officer, to repay all amounts so advanced if it shall ultimately be determined
that such director or officer is not entitled to be indemnified under Article&nbsp;X
or otherwise.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VIII of the Second Amended and Restated Bylaws of AdvancePCS, or
bylaws, provides that AdvancePCS shall indemnify any Person who was or is a
party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of AdvancePCS) by
reason of the fact that he is or was a director, officer, employee or agent of
Advance PCS, or is or was serving at the request of AdvancePCS as a director,
officer, employee or agent of another corporation, partnership, joint venture,
trust or other enterprise, against expenses (including attorneys&#146; fees),
judgments, fines and amounts paid in settlement actually and reasonably
incurred by him in connection with such action, suit or proceeding if he acted
in good faith and in a manner he reasonably believed to be in or not opposed to
the best interests of AdvancePCS, and with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct was unlawful, to the
fullest extent permitted by the bylaws, subject to the DGCL.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Article&nbsp;VIII of the bylaws further provides AdvancePCS with authority to
purchase and maintain insurance with respect to indemnification on behalf of
any Person who is or was a director, officer, employee or agent of AdvancePCS
or is or was serving at the request of AdvancePCS as director, officer,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise. AdvancePCS maintains directors&#146; and officers&#146; liability
insurance.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, Section&nbsp;11.05 of the AdvancePCS Employee Stock Purchase Plan
(the &#147;Stock Purchase Plan&#148;) provides indemnification by AdvancePCS against and
from (i)&nbsp;any loss, cost, liability, or expense that may be imposed upon or
reasonably incurred by such person in connection with or resulting from any
claim, action, suit, or proceeding to which such person may be a party or in
which such person may be involved by reason of any action or failure to act
under the Stock Purchase Plan; and (ii)&nbsp;any and all amounts paid by such person
in satisfaction of judgment in any such action, suit, or proceeding relating to
the Stock Purchase Plan to any Board member or Committee member for acts or
failures to act under the Stock Purchase Plan except to the extent that any
such loss, cost, liability or expense arises from the gross negligence or
willful misconduct of such person.
</FONT>
<!-- link2 "Item&nbsp;7. Exemption from Registration Claimed." -->
<DIV align="left"><A NAME="008"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;7. Exemption from Registration Claimed.</B></FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<P align="center"><FONT size="2">
6</FONT>
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<!-- link2 "Item&nbsp;8. Exhibits." -->
<DIV align="left"><A NAME="009"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits.</B></FONT>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">4.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">AdvancePCS Deferred Compensation Plan</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">5.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Opinion of AdvancePCS Counsel</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">23.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Consent of PricewaterhouseCoopers LLP</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">23.2</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Consent of AdvancePCS Counsel (included as part of Exhibit&nbsp;5.1)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">23.2</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">AdvancePCS was unable to obtain the written consent of Arthur
Andersen LLP to incorporate by reference its audit report dated May
29, 2001 (except with respect to the matter discussed in Note 15*, as
to which the date is June&nbsp;18, 2001). See Item&nbsp;3.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">24.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Power of Attorney (set forth on the signature pages of this Registration Statement)</FONT></TD>
</TR>
</TABLE>
<P>
<HR size="1" width="18%" align="left" noshade>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
      <TD width="1%" align="left" nowrap><FONT size="2">*</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">This reference refers to Note 15 of the Registrant&#146;s Annual Report on Form
10-K for fiscal year ended March&nbsp;31, 2001 which is incorporated by reference in
this Registration Statement.</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2">
7</FONT>
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<!-- link2 "Item&nbsp;9. Undertakings." -->
<DIV align="left"><A NAME="010"></A></DIV>
<P align="left"><FONT size="2"><B>Item&nbsp;9. Undertakings.</B></FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made
of the securities registered hereby, a post-effective amendment to this
Registration Statement:</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="11%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(i)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="85%"><FONT size="2">To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(ii)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">To reflect in the prospectus any facts or events
arising after the effective date of this Registration Statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in this Registration
Statement;</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">(iii)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">To include any material information with respect
to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such
information in this Registration Statement;</FONT></TD>
</TR>
</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="88%">
<TR valign="bottom">
        <TD width="100%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2"><I>provided, however</I>, that the undertakings set forth in paragraphs (1)(i) and
(1)(ii) above do not apply if the information required to be included in a
post-effective amendment by these paragraphs is contained in periodic
reports filed by the Registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of
the Securities Exchange Act of 1934 that are incorporated by reference in
this Registration Statement</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.</FONT></TD>
</TR>

</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby further undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan&#146;s annual report pursuant to Section&nbsp;15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities
Act of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.
</FONT>
<P align="center"><FONT size="2">
8</FONT>
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<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="011"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B></FONT>


<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Irving, State of Texas, on December&nbsp;3, 2002.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="75%">
<TR valign="bottom">
        <TD width="44%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
ADVANCEPCS<BR>
(Registrant)</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD valign="top" align="right"><FONT size="2">By:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
/s/ David D. Halbert<BR>
</FONT><HR size="1" noshade><FONT size="2">
David D. Halbert, Chairman of the Board and<BR>
Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears in this Registration Statement in any
capacity hereby constitutes and appoints David D. Halbert his true and lawful
attorney-in-fact and agent, with full power of substitution, for him and in his
name, place and stead, in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this Registration Statement
and to file the same with the Securities and Exchange Commission, with all
exhibits thereto, and other documents in connection therewith, granting unto
said attorney-in-fact and agent, full power and authority to do and perform
each and every act and thing requisite or desirable.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities indicated on December&nbsp;3, 2002.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="65%">
<TR valign="bottom">
        <TD width="33%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="62%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Name</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ David D. Halbert
<HR size="1" noshade>
David D. Halbert</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Chairman of the Board and Chief Executive
Officer
(Principal Executive Officer)</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Jon S. Halbert</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Vice Chairman and Director</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Jon S. Halbert</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ David A. George</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
President and Director</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">David A. George</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Yon Y. Jorden
<HR size="1" noshade>
Yon Y. Jorden</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Chief Financial Officer and Executive Vice
President
(Principal Financial and Accounting Officer)</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">
9</FONT>
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<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="65%">
<TR valign="bottom">
        <TD width="33%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="62%">&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Ramsey A. Frank</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Ramsey A. Frank</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Stephen L. Green</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Stephen L. Green</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Paul S. Levy</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Paul S. Levy</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Jean-Pierre Millon</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Jean-Pierre Millon</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ Michael D. Ware</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Michael D. Ware</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">/s/ George Poste</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Director</FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">George Poste</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">
10</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2">INDEX TO EXHIBITS
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="65%">
<TR valign="bottom">
        <TD width="8%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="87%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Number</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Exhibit</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
AdvancePCS Deferred Compensation Plan</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of AdvancePCS Counsel</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of PricewaterhouseCoopers LLP</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of AdvancePCS Counsel (included as part of Exhibit&nbsp;5.1)</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.4</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
AdvancePCS was unable to obtain the written consent of Arthur
Andersen LLP to incorporate by reference its audit report dated May
29, 2001 (except with respect to the matter discussed in Note 15*, as
to which the date is June&nbsp;18, 2001). See Item&nbsp;3.</FONT></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney (set forth on the signature pages of this
Registration Statement)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="65%">
<TR valign="bottom">
        <TD width="8%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="87%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
This reference refers to Note 15 of the Registrant&#146;s Annual
Report on Form&nbsp;10-K for fiscal year ended March&nbsp;31, 2001 which is
incorporated by reference in this Registration Statement.</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2"></FONT>




</BODY>
</HTML>
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AdvancePCS
Table of Contents
As filed with the Securities and Exchange Commission on December 6, 2002
Registration No. 333-_________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
ADVANCEPCS
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or
organization)
75-2493381
(I.R.S. Employer
Identification No.)
750 West John Carpenter
Freeway, Suite 1600
Irving, Texas 75039
(Address of Principal Executive Offices)
ADVANCEPCS
DEFERRED COMPENSATION PLAN
(Full title of the plan)
David D. Halbert
Chairman of the Board and Chief Executive Officer
750 West John Carpenter Freeway, Suite 1200
Irving, Texas 75039
(469) 524-4700
(Name and address, including zip code, and telephone number,
including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities
Amount to be
offering price per
aggregate offering
Amount of
to be registered
registered
share (2)
price (2)
registration fee
Deferred Compensation
Obligations (1)
$
8,093,800
100
%
$
8,093,800
$
744.63
(1)
The Deferred Compensation Obligations are unsecured obligations of
AdvancePCS to pay deferred compensation in the future to certain of its
employees in accordance with the terms of the AdvancePCS Deferred
Compensation Plan.
(2)
Estimated solely for the purpose of determining the registration
fee.
TABLE OF CONTENTS
PART I
Item 1. Plan Information.*
Item 2. Registrant Information and Employee Plan Annual Information.*
PART II
Item 3. Incorporation of Certain Documents by Reference.
Item 4. Description of Securities.
Item 5. Interests of Named Experts and Counsel.
Item 6. Indemnification of Directors and Officers.
Item 7. Exemption from Registration Claimed.
Item 8. Exhibits.
Item 9. Undertakings.
SIGNATURES
EX-4.1 Deferred Compensation Plan
EX-5.1 Opinion/Consent of Counsel
EX-23.1 Consent of PricewaterhouseCoopers LLP
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Item 1. Plan Information.*
Item 2. Registrant Information and Employee Plan Annual Information.*
*Information required by Part I to be contained in the Section 10(a)
prospectus is omitted from this Registration Statement in accordance
with Rule 428 under the Securities Act of 1933, as amended (the
"Securities Act"), and the Note to Part I of Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Certain Documents by Reference.
The following documents filed by the Registrant with the Securities and
Exchange Commission (the "Commission") are incorporated by reference in this
Registration Statement:
(1)
The Registrant's Annual Report on Form 10-K for the fiscal year
ended March 31, 2002, filed pursuant to Section 13(a) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act") (File
No. 0-21447);
(2)
The Registrant's Quarterly Report on Form 10-Q for the quarterly
period ended June 30, 2002, filed pursuant to Section 13(a) or 15(d)
of the Exchange Act (File No. 0-21447);
(3)
The Registrant's Quarterly Report on Form 10-Q for the quarterly
period ended September 30, 2002, filed pursuant to Section 13(a) or
15(d) of the Exchange Act (File No. 0-21447);
(4)
All other reports filed by the Registrant pursuant to Section
13(a) or 15(d) of the Exchange Act since June 30, 2002; and
(5)
The description of the Registrant's Class A Common Stock
contained in the Registrant's Registration Statement on Form 8-A/A, as
filed with the Commission on December 14, 2000, including any
amendments or reports filed for the purpose of updating such
description.
In addition, all documents subsequently filed by the Registrant pursuant to
Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of
a post-effective amendment which indicates that all securities offered have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this Registration Statement and to be
a part hereof from the date of filing of such documents. Statements contained
in this Registration Statement or in a document incorporated by reference may
be modified or superseded by later statements in this Registration Statement or
by statements in subsequent documents incorporated by reference, in which case
you should refer to the later statement.
Arthur Andersen LLP ("Arthur Andersen"), which audited our financial statements
for the years ended March 31, 2000 and March 31, 2001, no longer serves as
AdvancePCS's independent public accountant. Arthur Andersen consented to the
inclusion of their report in the annual reports and registration statements we
filed prior to January 31, 2002 but not after such date. Some changes to the
financial statements covered by Arthur Andersen LLP's report for 2000 and 2001
were made after January 31, 2002, but we do
2
Table of Contents
not believe these changes materially affect the financial results covered by
Arthur Andersen's report. A complete discussion of these changes is located in
Notes 2 and 15 to the financial statements included in the Form 10-K for the
year ended March 31, 2002, which is incorporated by reference in this
Registration Statement.
We have not been able to obtain, after reasonable efforts, the written consent
of Arthur Andersen, as required under Section 7 of the Securities Act of 1933,
to the inclusion of their reports in this prospectus, and we have dispensed
with the requirement to file their consent in reliance on Rule 437(a). As a
result, holders of our securities, whether acquired under employee benefit
plans, on the open market, or otherwise, may have no effective remedy against
Arthur Andersen if there is a material misstatement or omission in the
financial statements incorporated by reference in this prospectus. In
particular, because of this lack of consent, holders of our securities will not
be entitled to recovery against Arthur Andersen under Section 11 of the
Securities Act of 1933 for any untrue statements of material fact contained in
the financial statements audited by Arthur Andersen or any omissions to state a
material fact required to be stated in those financial statements.
Item 4. Description of Securities.
The following description of our "obligations" under the AdvancePCS
Amended and Restated Deferred Compensation Plan (the "Deferred Compensation
Plan") does not purport to be a complete description of the terms and
conditions of the Deferred Compensation Plan and is qualified in its entirety
by reference to the plan document, a copy of which is attached as an exhibit to
this registration statement. The Deferred Compensation Plan supercedes in its
entirety the PCS Health Systems, Inc. Deferred Compensation Plan (the
"Predecessor Plan"). The Deferred Compensation Plan is intended to provide a
select group of management and highly compensated employees and non-employee
directors (each such individual, a "Participant") with an opportunity to defer
a portion of their pre-tax compensation and accumulate tax-deferred earnings
(or losses) thereon. Each Participant and each of their beneficiaries, heirs,
successors and assigns is an unsecured general creditor of AdvancePCS (the
"Company") with respect to his or her own Deferred Compensation Plan benefits.
For purposes of the payment of benefits under the Deferred Compensation Plan,
any and all of the Company's assets shall be, and remain, general, unpledged
and unrestricted assets. The Company's obligations to pay deferred compensation
under the Deferred Compensation Plan, which we refer to as the "obligations,"
shall be that of an unfunded and unsecured promise to pay the money or property
in the future. The Deferred Compensation Plan is unfunded for tax purposes and
for purposes of Title I of ERISA and the Deferred Compensation Plan is
maintained solely for the purpose of providing retirement benefits for
Participants in excess of certain statutory limitations.
Subject to the terms and conditions set forth in the Deferred Compensation
Plan and conditions that the plan administrator may determine, each Participant
may elect to defer all or a portion (subject to applicable minimums) of his or
her base annual salary, annual bonus, commissions, performance awards,
directors' fees, or stock option gains, as applicable. The amount of
compensation to be deferred by each Participant is based on elections made by
the Participant in accordance with the terms of the Deferred Compensation Plan.
Deferred stock option gains will be credited or debited to each Participant's
account in the form of additional shares of the Company's common stock, .001
par value, or certain other equity securities of the Company ("Stock") and
shall be computed as follows: (i) the total fair market value of the shares of
Stock held or acquired as a result of the exercise of an Eligible Stock Option
(as such term is defined in the Deferred Compensation Plan) using a
stock-for-stock payment method, minus (ii) the total exercise price for such
shares of Stock. For each year of the Deferred Compensation Plan, the Company
may, in its sole discretion, credit a Participant's company discretionary
contribution account established under the Deferred Compensation Plan. For each
year of the Deferred Compensation Plan, the Company may also be required to
credit amounts to a Participant's company discretionary contribution account in
accordance with such Participant's employment or other agreements entered into
between the Participant
3
Table of Contents
and the Company. Additionally, for each year of the Deferred Compensation Plan
and pursuant to the terms of the Deferred Compensation Plan, the Company shall
credit to each Participant an amount equal to the Annual Company Restoration
Matching Amount (as defined below). A Participant's Annual Company Restoration
Matching Amount for any year of the Deferred Compensation Plan shall be equal
to (i) the "match" provided in the AdvancePCS Employee Savings Plan, as amended
(the "401(k) Plan") that the Company would have credited to the Participant on
the amount of base salary deferred into the Deferred Compensation Plan for such
year had such base salary deferral been contributed to the 401(k) Plan, to the
extent allowable under the limitations applicable to the 401(k) Plan, reduced
by (ii) the amount of the "match" the Company makes to the Participant during
such year under the 401(k) Plan.
Except with respect to deferred stock option gains and the portion of a
Participant's account balance which is attributable to the rollover amount
under the Predecessor Plan, each Participant must select from a range of
notional investment alternatives chosen by the plan administrator for the
purpose of crediting or debiting additional amounts to the Participant's
account balance ("measurement alternatives"). The amount of the obligations
payable to each Participant will increase or decrease based on the investment
returns of the chosen measurement alternatives. A Participant's election of a
measurement alternative, the allocation of a Participant's account balance to
such measurement alternative and the crediting and debiting of amounts to a
Participant's account under the Deferred Compensation Plan are not to be
construed as an actual investment of his or her account in any such measurement
alternative or as any investment made on his or her behalf by the Company. The
Company may establish a trust to which we may, in our discretion, contribute
cash or other property, including securities issued by the Company, to provide
for the benefit payments under the Deferred Compensation Plan. Participants
and their beneficiaries, heirs, successors and assigns shall have no legal or
equitable rights, interests or claims in any property or assets of the Company.
All deferrals by Participants become general, unpledged and unrestricted
assets of the Company, and thus, Participants will not have an ownership
interest in any of the assets of the Company of the Deferred Compensation Plan
or in the measurement alternatives they choose, and the Participants' deferrals
will be subject to the claims of our general creditors in the event of our
bankruptcy or insolvency.
The obligations will become due in the event of a Participant's
retirement, death, other termination of employment or disability or on such
other date as a Participant elects, and in the form elected by the Participant
in accordance with the terms of the Deferred Compensation Plan. Participants
may also take early distributions from the Deferred Compensation Plan with a
penalty or petition for early distributions without a penalty in the event of
hardship. All distributions from a Participant's deferred stock option gains
will be in the form of Stock, without any interest, depreciation or
appreciation therein. All other distributions shall be in cash in lump sum or,
in certain circumstances as permitted by the Deferred Compensation Plan, in
installments. Benefit payments under the Deferred Compensation Plan, when
received, are considered ordinary income, subject to income taxes and
withholding.
Neither a Participant nor any other person shall have any right to
commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise
encumber, transfer, hypothecate, alienate or convey in advance of actual
receipt, the Deferred Compensation Plan benefits, and all obligations are
unassignable and non-transferable. No part of the Deferred Compensation Plan
benefits shall, prior to actual payment, be subject to seizure, attachment,
garnishment or sequestration for the payment of any debts, judgments, alimony
or separate maintenance owed by a Participant or any other person, be
transferable by operation of law in the event of a Participant's or any other
person's bankruptcy or insolvency or be transferable to a spouse as a result of
a property settlement or otherwise other than to our creditors in the event of
our bankruptcy or insolvency. Each Participant may designate one or more
beneficiaries to receive benefits upon such Participant's death.
The total amount of obligations under the Deferred Compensation Plan being
registered pursuant to this Registration Statement is $8,093,800.
4
Table of Contents
We may terminate or completely or partially amend the Deferred
Compensation Plan. No such termination shall adversely affect any Participant
or his or her beneficiary who has become entitled to the payments of any
benefits under the Deferred Compensation Plan as of the date of termination,
and no such amendment shall decrease or restrict the value of a Participant's
account under the Deferred Compensation Plan in existence at the time the
amendment is made.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
AdvancePCS, a Delaware corporation, is empowered by Section 145 of the
Delaware General Corporation Law, or DGCL, subject to the procedures and
limitations stated therein, to indemnify certain parties. Section 145 of the
DGCL provides in part that a corporation shall have the power to indemnify any
Person who was or is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding (other than an
action by or in the right of the corporation) by reason of the fact that such
Person is or was a director, officer, employee or agent of the corporation, or
is or was serving at the request of the corporation as a director, officer,
employee or agent of another corporation or other enterprise, against expenses
(including attorneys' fees), judgments, fines and amounts paid in settlement
actually and reasonably incurred by him in connection with such action, suit or
proceeding if he acted in good faith and in a manner he reasonably believed to
be in or not opposed to the best interests of the corporation, and, with
respect to any criminal action or proceeding, had no reasonable cause to
believe his conduct was unlawful. Similar indemnity is authorized for such
Persons against expenses (including attorneys' fees) actually and reasonably
incurred in defense or settlement of any threatened, pending or completed
action or suit by or in the right of the corporation, if such Person acted in
good faith and in a manner he reasonably believed to be in or not opposed to
the best interests of the corporation, and provided further that (unless a
court of competent jurisdiction otherwise provides) such Person shall not have
been adjudged liable to the corporation. Where an officer or a director is
successful on the merits or otherwise in the defense of any action referred to
above, the corporation must indemnify him against the expenses that such
officer or director actually and reasonably incurred. Section 145 further
provides that any indemnification, unless ordered by a court, shall be made by
the corporation only as authorized in each specific case upon a determination
that indemnification of such Person is proper because he has met the applicable
standard of conduct. Pursuant to Section 145, such determination shall be made,
with respect to a Person who is a director or officer at the time of such
determination, by: (i) the stockholders; (ii) by a majority vote of the
directors who are not parties to such action, suit or proceeding even if less
than a quorum; (iii) a committee of directors who are not parties to such
action, suit or proceeding designated by majority vote by such disinterested
directors even if less than a quorum; or (iv) an independent legal counsel in a
written opinion, if there are no such disinterested directors, or if such
disinterested directors so direct.
Section 145 provides further that indemnification pursuant to its
provisions is not exclusive of other rights of indemnification to which a
Person may be entitled under any bylaw, agreement, vote of stockholders or
disinterested directors or otherwise.
Article IX of the Second Amended and Restated Certificate of Incorporation
of AdvancePCS, or certificate, eliminates the personal liability of
AdvancePCS's directors to the fullest extent permitted by the DGCL, as amended.
Section 102(b)(7) of the DGCL permits a company's certificate of incorporation
to eliminate or limit personal liability of a director to the corporation or
its stockholders for monetary damages for breach of fiduciary duty as a
director, provided that such provision shall not eliminate or limit the
liability of a director: (i) for any breach of the director's duty of loyalty
to the corporation or its
5
Table of Contents
stockholders; (ii) for acts or omissions not in good faith or which
involve intentional misconduct or a knowing violation of law; (iii) under
Section 174 of the DGCL (which addresses director liability for unlawful
payment of a dividend or unlawful stock purchase or redemption) or (iv) for any
transaction from which the director derived an improper personal benefit.
Article X of the certificate provides that AdvancePCS shall indemnify any
and all Persons whom it has the power to indemnify to the fullest extent
permitted under applicable law, and such indemnity shall continue as to a
Person who has ceased to be a director, officer, employee or agent and shall
inure to the benefit of the heirs, executors and administrators of such a
Person.
The right to indemnification under Article X of the certificate is a
contract right which includes, with respect to directors and officers, the
right to be paid by AdvancePCS the expenses incurred in defending any such
proceeding in advance of its disposition; provided, however, that, if the DGCL
requires, the payment of such expenses incurred by a director or officer in
advance of the final disposition of a proceeding shall be made only upon
delivery to AdvancePCS of an undertaking, by or on behalf of such director or
officer, to repay all amounts so advanced if it shall ultimately be determined
that such director or officer is not entitled to be indemnified under Article X
or otherwise.
Article VIII of the Second Amended and Restated Bylaws of AdvancePCS, or
bylaws, provides that AdvancePCS shall indemnify any Person who was or is a
party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of AdvancePCS) by
reason of the fact that he is or was a director, officer, employee or agent of
Advance PCS, or is or was serving at the request of AdvancePCS as a director,
officer, employee or agent of another corporation, partnership, joint venture,
trust or other enterprise, against expenses (including attorneys' fees),
judgments, fines and amounts paid in settlement actually and reasonably
incurred by him in connection with such action, suit or proceeding if he acted
in good faith and in a manner he reasonably believed to be in or not opposed to
the best interests of AdvancePCS, and with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct was unlawful, to the
fullest extent permitted by the bylaws, subject to the DGCL.
Article VIII of the bylaws further provides AdvancePCS with authority to
purchase and maintain insurance with respect to indemnification on behalf of
any Person who is or was a director, officer, employee or agent of AdvancePCS
or is or was serving at the request of AdvancePCS as director, officer,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise. AdvancePCS maintains directors' and officers' liability
insurance.
In addition, Section 11.05 of the AdvancePCS Employee Stock Purchase Plan
(the "Stock Purchase Plan") provides indemnification by AdvancePCS against and
from (i) any loss, cost, liability, or expense that may be imposed upon or
reasonably incurred by such person in connection with or resulting from any
claim, action, suit, or proceeding to which such person may be a party or in
which such person may be involved by reason of any action or failure to act
under the Stock Purchase Plan; and (ii) any and all amounts paid by such person
in satisfaction of judgment in any such action, suit, or proceeding relating to
the Stock Purchase Plan to any Board member or Committee member for acts or
failures to act under the Stock Purchase Plan except to the extent that any
such loss, cost, liability or expense arises from the gross negligence or
willful misconduct of such person.
Item 7. Exemption from Registration Claimed.
Not applicable.
6
Table of Contents
Item 8. Exhibits.
4.1
AdvancePCS Deferred Compensation Plan
5.1
Opinion of AdvancePCS Counsel
23.1
Consent of PricewaterhouseCoopers LLP
23.2
Consent of AdvancePCS Counsel (included as part of Exhibit 5.1)
23.2
AdvancePCS was unable to obtain the written consent of Arthur
Andersen LLP to incorporate by reference its audit report dated May
29, 2001 (except with respect to the matter discussed in Note 15*, as
to which the date is June 18, 2001). See Item 3.
24.1
Power of Attorney (set forth on the signature pages of this Registration Statement)
*
This reference refers to Note 15 of the Registrant's Annual Report on Form
10-K for fiscal year ended March 31, 2001 which is incorporated by reference in
this Registration Statement.
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Item 9. Undertakings.
The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made
of the securities registered hereby, a post-effective amendment to this
Registration Statement:
(i)
To include any prospectus required by Section
10(a)(3) of the Securities Act of 1933;
(ii)
To reflect in the prospectus any facts or events
arising after the effective date of this Registration Statement
(or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in this Registration
Statement;
(iii)
To include any material information with respect
to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such
information in this Registration Statement;
provided, however
, that the undertakings set forth in paragraphs (1)(i) and
(1)(ii) above do not apply if the information required to be included in a
post-effective amendment by these paragraphs is contained in periodic
reports filed by the Registrant pursuant to Section 13 or Section 15(d) of
the Securities Exchange Act of 1934 that are incorporated by reference in
this Registration Statement
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.
The undersigned Registrant hereby further undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
Registrant pursuant to the foregoing provisions, or otherwise, the Registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities
Act of 1933 and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act of 1933 and will be governed by the final adjudication of such
issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Irving, State of Texas, on December 3, 2002.
ADVANCEPCS
(Registrant)
By:
/s/ David D. Halbert
David D. Halbert, Chairman of the Board and
Chief Executive Officer
Each person whose signature appears in this Registration Statement in any
capacity hereby constitutes and appoints David D. Halbert his true and lawful
attorney-in-fact and agent, with full power of substitution, for him and in his
name, place and stead, in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this Registration Statement
and to file the same with the Securities and Exchange Commission, with all
exhibits thereto, and other documents in connection therewith, granting unto
said attorney-in-fact and agent, full power and authority to do and perform
each and every act and thing requisite or desirable.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities indicated on December 3, 2002.
Name
Title
/s/ David D. Halbert
David D. Halbert
Chairman of the Board and Chief Executive
Officer
(Principal Executive Officer)
/s/ Jon S. Halbert
Vice Chairman and Director
Jon S. Halbert
/s/ David A. George
President and Director
David A. George
/s/ Yon Y. Jorden
Yon Y. Jorden
Chief Financial Officer and Executive Vice
President
(Principal Financial and Accounting Officer)
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/s/ Ramsey A. Frank
Director
Ramsey A. Frank
/s/ Stephen L. Green
Director
Stephen L. Green
/s/ Paul S. Levy
Director
Paul S. Levy
/s/ Jean-Pierre Millon
Director
Jean-Pierre Millon
/s/ Michael D. Ware
Director
Michael D. Ware
/s/ George Poste
Director
George Poste
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INDEX TO EXHIBITS
Exhibit
Number
Exhibit
4.1
AdvancePCS Deferred Compensation Plan
5.1
Opinion of AdvancePCS Counsel
23.1
Consent of PricewaterhouseCoopers LLP
23.3
Consent of AdvancePCS Counsel (included as part of Exhibit 5.1)
23.4
AdvancePCS was unable to obtain the written consent of Arthur
Andersen LLP to incorporate by reference its audit report dated May
29, 2001 (except with respect to the matter discussed in Note 15*, as
to which the date is June 18, 2001). See Item 3.
24.1
Power of Attorney (set forth on the signature pages of this
Registration Statement)
*
This reference refers to Note 15 of the Registrant's Annual
Report on Form 10-K for fiscal year ended March 31, 2001 which is
incorporated by reference in this Registration Statement.