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EXHIBIT 10.10


FAMOUS DAVES OF AMERICA, INC.


2005 STOCK INCENTIVE PLAN




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|1. | Purpose. The purpose of the 2005 Stock Incentive Plan
    (the Plan) of Famous Daves of America, Inc.
    (the Company) is to increase shareholder value and
    to advance the interests of the Company by furnishing a variety
    of economic incentives (Incentives) designed
    to attract, retain and motivate employees, certain key
    consultants and directors of the Company. Incentives may consist
    of opportunities to purchase or receive shares of Common Stock,
    $0.01 par value per share, of the Company (Common
    Stock) on terms determined under this Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
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|2. | Administration. The Plan shall be administered by the
    board of directors of the Company (the Board of
    Directors) or by a stock option or compensation committee
    (the Committee) of the Board of Directors. The
    Committee shall consist of not less than two directors of the
    Company and shall be appointed from time to time by the Board of
    Directors. Each member of the Committee shall be (i) a
    non-employee director within the meaning of
    Rule 16b-3 of the Securities Exchange Act of 1934
    (including the regulations promulgated thereunder, the
    1934 Act) (a Non-Employee
    Director), and (ii) shall be an outside
    director within the meaning of Section 162(m) under
    the Internal Revenue Code of 1986, as amended (the
    Code) and the regulations promulgated thereunder.
    The Committee shall have complete authority to award Incentives
    under the Plan, to interpret the Plan, and to make any other
    determination which it believes necessary and advisable for the
    proper administration of the Plan. The Committees
    decisions and matters relating to the Plan shall be final and
    conclusive on the Company and its participants. If at any time
    there is no stock option or compensation committee, the term
    Committee, as used in the Plan, shall refer to the
    Board of Directors.
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|3. | Eligible Participants. Officers of the Company, employees
    of the Company or its subsidiaries, members of the Board of
    Directors, and consultants or other independent contractors who
    provide services to the Company or its subsidiaries shall be
    eligible to receive Incentives under the Plan when designated by
    the Committee. Participants may be designated individually or by
    groups or categories (for example, by pay grade) as the
    Committee deems appropriate. Participation by officers of the
    Company or its subsidiaries and any performance objectives
    relating to such officers must be approved by the Committee.
    Participation by others and any performance objectives relating
    to others may be approved by groups or categories (for example,
    by pay grade) and authority to designate participants who are
    not officers and to set or modify such targets may be delegated.                                                                                                                                                                                                                                                                                                                                                                                                                                                            
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|4. | Types of Incentives. Incentives under the Plan may be
    granted in any one or a combination of the following forms:
    (a) performance shares (section 6); (b) incentive
    stock options and non-statutory stock options (section 7);
    (c) stock appreciation rights (SARs)
    (section 8); (d) stock awards (section 9);
    (e) restricted stock (section 9).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
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|5. | Shares Subject to the Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      



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| | 5.1. | Number of Shares. Subject to adjustment as provided in
    Section 10.6, the number of shares of Common Stock which
    may be issued under the Plan shall not exceed
    450,000 shares of Common Stock. Shares of Common Stock that
    are issued under the Plan or are subject to outstanding
    Incentives will be applied to reduce the maximum number of
    shares of Common Stock remaining available for issuance under
    the Plan.                                                                                                                                                                                                                                                                                       
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| | 5.2. | Cancellation. To the extent that cash in lieu of shares
    of Common Stock is delivered upon the exercise of a SAR pursuant
    to Section 8.4, the Company shall be deemed, for purposes
    of applying the limitation on the number of shares, to have
    issued the greater of the number of shares of Common Stock which
    it was entitled to issue upon such exercise or on the exercise
    of any related option. In the event that a stock option or SAR
    granted hereunder expires or is terminated or canceled
    unexercised as to any shares of Common Stock, such shares may
    again be issued under the Plan either pursuant to stock options,
    SARs or otherwise. In the event that shares of Common Stock

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| |      | are issued as performance shares, restricted stock or pursuant
    to a stock award and thereafter are forfeited or reacquired by
    the Company pursuant to rights reserved upon issuance thereof,
    such forfeited and reacquired shares may again be issued under
    the Plan, either as performance shares, restricted stock,
    pursuant to stock awards or otherwise.
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| | 5.3. | Type of Common Stock. Common Stock issued under the Plan
    in connection with stock options, SARs, performance shares,
    restricted stock or stock awards, may be authorized and unissued
    shares or treasury stock, as designated by the Committee.                                                                                                                     



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|6. | Performance Shares. A performance share consists of an
    award which shall be paid in shares of Common Stock, as
    described below. The grant of a performance share shall be
    subject to such terms and conditions as the Committee deems
    appropriate, including the following:



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| | 6.1. | Performance Objectives. Each performance share will be
    subject to performance objectives for the Company or one of its
    operating units to be achieved by the end of a specified period,
    which period shall be at least one year in length unless the
    Committee determines in its discretion that a shorter period is
    warranted. The number of performance shares granted shall be
    determined by the Committee and may be subject to such terms and
    conditions, as the Committee shall determine. If the performance
    objectives are achieved, each participant will be paid in shares
    of Common Stock. If such objectives are not met, each grant of
    performance shares may provide for lesser payments in accordance
    with formulas established in the award.
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| | 6.2. | Not Shareholder. The grant of performance shares to a
    participant shall not create any rights in such participant as a
    shareholder of the Company, until the payment of shares of
    Common Stock with respect to an award.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
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| | 6.3. | No Adjustments. No adjustment shall be made in
    performance shares granted on account of cash dividends which
    may be paid or other rights which may be issued to the holders
    of Common Stock prior to the end of any period for which
    performance objectives were established.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
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| | 6.4. | Expiration of Performance Share. If any
    participants employment or consulting engagement with the
    Company is terminated for any reason other than normal
    retirement, death or disability prior to the achievement of the
    participants stated performance objectives, all of the
    participants rights for the performance shares shall
    expire and terminate unless otherwise determined by the
    Committee. In the event of termination of employment or
    consulting by reason of death, disability, or normal retirement,
    the Committee, in its own discretion may determine which
    portions, if any, of the performance shares should be paid to
    the participant.                                                                                            



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|7. | Stock Options. A stock option is a right to purchase
    shares of Common Stock from the Company. Each stock option
    granted by the Committee under this Plan shall be subject to the
    following terms and conditions:



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| | 7.1. | Price. The option price per share shall be determined by
    the Committee, subject to adjustment under Section 10.6;
    provided that the option price shall be not less than the Fair
    Market Value of the Common Stock subject to the option on the
    date of grant.                                                                                                                                                                                                                                                                                                          
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| | 7.2. | Number. The number of shares of Common Stock subject to
    the option shall be determined by the Committee, subject to
    adjustment as provided in Section 10.6. The number of
    shares of Common Stock subject to a stock option shall be
    reduced in the same proportion that the holder thereof exercises
    a SAR if any SAR is granted in conjunction with or related to
    the stock option. Notwithstanding the foregoing, no person shall
    receive grants of Stock Options under the Plan that exceed
    75,000 shares during any one fiscal year of the Company.
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| | 7.3. | Duration and Time for Exercise. Subject to earlier
    termination as provided in Section 10.4, the term of each
    stock option shall be determined by the Committee but shall not
    exceed ten years and one day from the date of grant. Each stock
    option shall become exercisable at such time or times during its
    term as shall be determined by the Committee at the time of
    grant, but shall not become exercisable more quickly than
    ratably over three years unless the Committee determines in its                                                        

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| |      | discretion that a faster schedule is warranted. The Committee
    may accelerate the exercisability of any stock option. Subject
    to the foregoing and with the approval of the Committee, all or
    any part of the shares of Common Stock with respect to which the
    right to purchase has accrued may be purchased by the Company at
    the time of such accrual or at any time or times thereafter
    during the term of the option at such price and on such terms as
    the Company and the optionee shall mutually agree; provided,
    however,that any shares so repurchased shall not be
    available for re-issuance under the Plan.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
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| | 7.4. | Manner of Exercise. A stock option may be exercised, in
    whole or in part, by giving written notice to the Company,
    specifying the number of shares of Common Stock to be purchased
    and accompanied by the full purchase price for such shares. The
    option price shall be payable (a) in United States dollars
    upon exercise of the option and may be paid by cash, uncertified
    or certified check or bank draft; (b) at the discretion of
    the Committee, by delivery of shares of Common Stock in payment
    of all or any part of the option price, which shares shall be
    valued for this purpose at the Fair Market Value on the date
    such option is exercised; or (c) at the discretion of the
    Committee, by instructing the Company to withhold from the
    shares of Common Stock issuable upon exercise of the stock
    option shares of Common Stock in payment of all or any part of
    the exercise price and/or any related withholding tax
    obligations, which shares shall be valued for this purpose at
    the Fair Market Value or in such other manner as may be
    authorized from time to time by the Committee. The shares of
    Common Stock delivered by the participant pursuant to
    Section 6.4(b) must have been held by the participant for a
    period of not less than six months prior to the exercise of the
    option, unless otherwise determined by the Committee. Prior to
    the issuance of shares of Common Stock upon the exercise of a
    stock option, a participant shall have no rights as a
    shareholder.
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| | 7.5. | Incentive Stock Options. Notwithstanding anything in the
    Plan to the contrary, the following additional provisions shall
    apply to the grant of stock options which are intended to
    qualify as Incentive Stock Options (as such term is defined in
    Section 422 of the Code):                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   



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| | (a) | The aggregate Fair Market Value (determined as of the time the
    option is granted) of the shares of Common Stock with respect to
    which Incentive Stock Options are exercisable for the first time
    by any participant during any calendar year (under all of the
    Companys plans) shall not exceed $100,000. The
    determination will be made by taking incentive stock options
    into account in the order in which they were granted. If such
    excess only applies to a portion of an Incentive Stock Option,
    the Committee, in its discretion, will designate which shares
    will be treated as shares to be acquired upon exercise of an
    Incentive Stock Option.
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| | (b) | Any Incentive Stock Option certificate authorized under the Plan
    shall contain such other provisions as the Committee shall deem
    advisable, but shall in all events be consistent with and
    contain all provisions required in order to qualify the options
    as Incentive Stock Options.                                                                                                                                                                                                                                                                                                                                                                                             
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| | (c) | All Incentive Stock Options must be granted within ten years
    from the earlier of the date on which this Plan was adopted by
    Board of Directors or the date this Plan was approved by the
    shareholders.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
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| | (d) | Unless sooner exercised, all Incentive Stock Options shall
    expire no later than 10 years after the date of grant.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
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| | (e) | The option price for Incentive Stock Options shall be not less
    than the Fair Market Value of the Common Stock subject to the
    option on the date of grant.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  



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| | (f) | If Incentive Stock Options are granted to any participant who,
    at the time such option is granted, would own (within the
    meaning of Section 422 of the Code) stock possessing more
    than 10% of the total combined voting power of all classes of
    stock of the employer corporation or of its parent or subsidiary
    corporation, (i) the option price for such Incentive Stock
    Options shall be not less than 110% of the Fair Market Value of
    the Common Stock subject to the option on the date of grant and
    (ii) such Incentive Stock Options shall expire no later
    than five years after the date of grant.

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|8. | Stock Appreciation Rights. A SAR is a right to receive,
    without payment to the Company, a number of shares of Common
    Stock, cash or any combination thereof, the amount of which is
    determined pursuant to the formula set forth in
    Section 8.4. A SAR may be granted (a) with respect to
    any stock option granted under this Plan, either concurrently
    with the grant of such stock option or at such later time as
    determined by the Committee (as to all or any portion of the
    shares of Common Stock subject to the stock option), or
    (b) alone, without reference to any related stock option.
    Each SAR granted by the Committee under this Plan shall be
    subject to the following terms and conditions:



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| | 8.1. | Number. Each SAR granted to any participant shall relate
    to such number of shares of Common Stock as shall be determined
    by the Committee, subject to adjustment as provided in
    Section 10.6. In the case of a SAR granted with respect to
    a stock option, the number of shares of Common Stock to which
    the SAR pertains shall be reduced in the same proportion that
    the holder of the option exercises the related stock option.                                                               
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| | 8.2. | Duration. Subject to earlier termination as provided in
    Section 10.4, the term of each SAR shall be determined by
    the Committee but shall not exceed ten years and one day from
    the date of grant. Unless otherwise provided by the Committee,
    each SAR shall become exercisable at such time or times, to such
    extent and upon such conditions as the stock option, if any, to
    which it relates is exercisable. The Committee may in its
    discretion accelerate the exercisability of any SAR.
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| | 8.3. | Exercise. A SAR may be exercised, in whole or in part, by
    giving written notice to the Company, specifying the number of
    SARs which the holder wishes to exercise. Upon receipt of such
    written notice, the Company shall, within 90 days
    thereafter, deliver to the exercising holder certificates for
    the shares of Common Stock or cash or both, as determined by the
    Committee, to which the holder is entitled pursuant to
    Section 8.4.                                                  
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| | 8.4. | Payment. Subject to the right of the Committee to deliver
    cash in lieu of shares of Common Stock (which, as it pertains to
    officers and directors of the Company, shall comply with all
    requirements of the 1934 Act), the number of shares of
    Common Stock which shall be issuable upon the exercise of a SAR
    shall be determined by dividing:                                                                                                                                                       



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| | (a) | the number of shares of Common Stock as to which the SAR is
    exercised multiplied by the amount of the appreciation in such
    shares (for this purpose, the appreciation shall be
    the amount by which the Fair Market Value of the shares of
    Common Stock subject to the SAR on the exercise date exceeds
    (1) in the case of a SAR related to a stock option, the
    purchase price of the shares of Common Stock under the stock
    option or (2) in the case of a SAR granted alone, without
    reference to a related stock option, an amount which shall be
    determined by the Committee at the time of grant, subject to
    adjustment under Section 10.6); by
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| | (b) | the Fair Market Value of a share of Common Stock on the exercise
    date.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   



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| | In lieu of issuing shares of Common Stock upon the exercise of a
    SAR, the Committee may elect to pay the holder of the SAR cash
    equal to the Fair Market Value on the exercise date of any or
    all of the shares which would otherwise be issuable. No
    fractional shares of Common Stock shall be issued upon the
    exercise of a SAR; instead, the holder of the SAR shall be
    entitled to receive a cash adjustment equal to the same fraction
    of the Fair Market Value of a share of Common Stock on the
    exercise date or to purchase the portion necessary to make a
    whole share at its Fair Market Value on the date of exercise.



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|9. | Stock Awards and Restricted Stock. A stock award consists
    of the transfer by the Company to a participant of shares of
    Common Stock, without other payment therefor, as additional
    compensation for services to the Company. A share of restricted
    stock consists of shares of Common Stock which are sold or
    transferred by the Company to a participant at a price
    determined by the Committee (which price shall be at least equal
    to the minimum price required by applicable law for the issuance
    of a share of Common Stock) and subject to restrictions on their
    sale or other transfer by the participant. The transfer of Common

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| | Stock pursuant to stock awards and the transfer and sale of
    restricted stock shall be subject to the following terms and
    conditions:



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| | 9.1. | Number of Shares. The number of shares to be transferred
    or sold by the Company to a participant pursuant to a stock
    award or as restricted stock shall be determined by the
    Committee.                                                                                                                                                         
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| | 9.2. | Sale Price. The Committee shall determine the price, if
    any, at which shares of restricted stock shall be sold to a
    participant, which may vary from time to time and among
    participants and which may be below the Fair Market Value of
    such shares of Common Stock at the date of sale.                                                   
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| | 9.3. | Restrictions. All shares of restricted stock transferred
    or sold hereunder shall be subject to such restrictions as the
    Committee may determine which restrictions shall lapse over a
    period not less than three years from the date of grant as
    determined by the Committee, including, without limitation any
    or all of the following:



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| | (a) | a prohibition against the sale, transfer, pledge or other
    encumbrance of the shares of restricted stock, such prohibition
    to lapse at such time or times as the Committee shall determine
    (whether in annual or more frequent installments, at the time of
    the death, disability or retirement of the holder of such
    shares, or otherwise);        
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| | (b) | a requirement that the holder of shares of restricted stock
    forfeit, or (in the case of shares sold to a participant) resell
    back to the Company at his or her cost, all or a part of such
    shares in the event of termination of his or her employment or
    consulting engagement during any period in which such shares are
    subject to restrictions;
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| | (c) | such other conditions or restrictions as the Committee may deem
    advisable.                                                                                                                                                                                                                                                                                         



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| | 9.4. | Escrow. In order to enforce the restrictions imposed by
    the Committee pursuant to Section 9.3, the participant
    receiving restricted stock shall enter into an agreement with
    the Company setting forth the conditions of the grant. Shares of
    restricted stock shall be registered in the name of the
    participant and deposited, together with a stock power endorsed
    in blank, with the Company. Each such certificate shall bear a
    legend in substantially the following form:



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| |  | The transferability of this certificate and the shares of
    Common Stock represented by it are subject to the terms and
    conditions (including conditions of forfeiture) contained in the
    2005 Stock Incentive Plan of Famous Daves of America, Inc.
    (the Company), and an agreement entered into between
    the registered owner and the Company. A copy of the Plan and the
    agreement is on file in the office of the secretary of the
    Company.



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| | 9.5. | End of Restrictions. Subject to Section 10.5, at the
    end of any time period during which the shares of restricted
    stock are subject to forfeiture and restrictions on transfer,
    such shares will be delivered free of all restrictions to the
    participant or to the participants legal representative,
    beneficiary or heir.                                                                                                                                                                              
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| | 9.6. | Shareholder. Subject to the terms and conditions of the
    Plan, each participant receiving restricted stock shall have all
    the rights of a shareholder with respect to shares of stock
    during any period in which such shares are subject to forfeiture
    and restrictions on transfer, including without limitation, the
    right to vote such shares. Dividends paid in cash or property
    other than Common Stock with respect to shares of restricted
    stock shall be paid to the participant currently.

General




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| | 10.1. | Effective Date. The Plan will become effective upon its
    approval by the Companys shareholders. Unless approved by
    the shareholders within one year after the date of the
    Plans adoption by the Board of Directors, the Plan shall
    not be effective for any purpose.                     
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| | 10.2. | Duration. The Plan shall remain in effect until all
    Incentives granted under the Plan have either been satisfied by
    the issuance of shares of Common Stock or the payment of cash or
    been terminated under the terms of the Plan and all restrictions
    imposed on shares of Common Stock in

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| |       | connection with their issuance under the Plan have lapsed. No
    Incentives may be granted under the Plan after the tenth
    anniversary of the date the Plan is approved by the shareholders
    of the Company.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
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| | 10.3. | Non-transferability of Incentives. No stock option, SAR,
    restricted stock or performance award may be transferred,
    pledged or assigned by the holder thereof (except, in the event
    of the holders death, by will or the laws of descent and
    distribution to the limited extent provided in the Plan or the
    Incentive), or pursuant to a qualified domestic relations order
    as defined by the Code or Title I of the Employee
    Retirement Income Security Act, or the rules thereunder, and the
    Company shall not be required to recognize any attempted
    assignment of such rights by any participant. Notwithstanding
    the preceding sentence, stock options may be transferred by the
    holder thereof to Employees spouse, children,
    grandchildren or parents (collectively, the Family
    Members), to trusts for the benefit of Family Members, to
    partnerships or limited liability companies in which Family
    Members are the only partners or shareholders, or to entities
    exempt from federal income taxation pursuant to
    Section 501(c)(3) of the Internal Revenue Code of 1986, as
    amended. During a participants lifetime, a stock option
    may be exercised only by him or her, by his or her guardian or
    legal representative or by the transferees permitted by the
    preceding sentence.                                                                                                                                                                                                                                                                                                                                                                  
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| | 10.4. | Effect of Termination or Death. In the event that a
    participant ceases to be an employee of or consultant to the
    Company for any reason, including death or disability, any
    Incentives may be exercised or shall expire at such times as may
    be determined by the Committee.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
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| | 10.5. | Additional Condition. Notwithstanding anything in this
    Plan to the contrary: (a) the Company may, if it shall
    determine it necessary or desirable for any reason, at the time
    of award of any Incentive or the issuance of any shares of
    Common Stock pursuant to any Incentive, require the recipient of
    the Incentive, as a condition to the receipt thereof or to the
    receipt of shares of Common Stock issued pursuant thereto, to
    deliver to the Company a written representation of present
    intention to acquire the Incentive or the shares of Common Stock
    issued pursuant thereto for his or her own account for
    investment and not for distribution; and (b) if at any time
    the Company further determines, in its sole discretion, that the
    listing, registration or qualification (or any updating of any
    such document) of any Incentive or the shares of Common Stock
    issuable pursuant thereto is necessary on any securities
    exchange or under any federal or state securities or blue sky
    law, or that the consent or approval of any governmental
    regulatory body is necessary or desirable as a condition of, or
    in connection with the award of any Incentive, the issuance of
    shares of Common Stock pursuant thereto, or the removal of any
    restrictions imposed on such shares, such Incentive shall not be
    awarded or such shares of Common Stock shall not be issued or
    such restrictions shall not be removed, as the case may be, in
    whole or in part, unless such listing, registration,
    qualification, consent or approval shall have been effected or
    obtained free of any conditions not acceptable to the Company.
|
| | 10.6. | Adjustment. In the event of any recapitalization, stock
    dividend, stock split, combination of shares or other change in
    the Common Stock, the number of shares of Common Stock then
    subject to the Plan, including shares subject to restrictions,
    options or achievements of performance shares, shall be adjusted
    in proportion to the change in outstanding shares of Common
    Stock. In the event of any such adjustments, the purchase price
    of any option, the performance objectives of any Incentive, and
    the shares of Common Stock issuable pursuant to any Incentive
    shall be adjusted as and to the extent appropriate, in the
    discretion of the Committee, to provide participants with the
    same relative rights before and after such adjustment.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|
| | 10.7. | Incentive Plans and Agreements. Except in the case of
    stock awards, the terms of each Incentive shall be stated in a
    plan or agreement approved by the Committee. The Committee may
    also determine to enter into agreements with holders of options
    to reclassify or convert certain outstanding options, within the
    terms of the Plan, as Incentive Stock Options or as
    non-statutory stock options and in order to eliminate SARs with
    respect to all or part of such options and any other previously
    issued options.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

A-6



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| |       |             
| | ----- | ------------
| | 10.8. | Withholding.



| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (a) | The Company shall have the right to withhold from any payments
    made under the Plan or to collect as a condition of payment, any
    taxes required by law to be withheld. At any time when a
    participant is required to pay to the Company an amount required
    to be withheld under applicable income tax laws in connection
    with a distribution of Common Stock or upon exercise of an
    option or SAR, the participant may satisfy this obligation in
    whole or in part by electing (the Election) to have
    the Company withhold from the distribution shares of Common
    Stock having a value up to the minimum amount of withholding
    taxes required to be collected on the transaction. The value of
    the shares to be withheld shall be based on the Fair Market
    Value of the Common Stock on the date that the amount of tax to
    be withheld shall be determined (Tax Date).
|
| | (b) | Each Election must be made prior to the Tax Date. The Committee
    may disapprove of any Election, may suspend or terminate the
    right to make Elections, or may provide with respect to any
    Incentive that the right to make Elections shall not apply to
    such Incentive. An Election is irrevocable.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           



| |       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 10.9. | No Continued Employment, Engagement or Right to Corporate
    Assets. No participant under the Plan shall have any right,
    because of his or her participation, to continue in the employ
    of the Company for any period of time or to any right to
    continue his or her present or any other rate of compensation.
    Nothing contained in the Plan shall be construed as giving an
    employee, a consultant, such persons beneficiaries or any
    other person any equity or interests of any kind in the assets
    of the Company or creating a trust of any kind or a fiduciary
    relationship of any kind between the Company and any such person.



| |        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
| | ------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 10.10. | Deferral Permitted. Payment of cash or distribution of
    any shares of Common Stock to which a participant is entitled
    under any Incentive shall be made as provided in the Incentive.
    Payment may be deferred at the option of the participant if
    provided in the Incentive.                                                                                                                                                                                                                                                                                                                                                                                                                                                
|
| | 10.11. | Amendment of the Plan. The Board may amend or discontinue
    the Plan at any time. However, no such amendment or
    discontinuance shall adversely change or impair, without the
    consent of the recipient, an Incentive previously granted.
    Further, no such amendment shall, without approval of the
    shareholders of the Company, (a) increase the maximum
    number of shares of Common Stock which may be issued to all
    participants under the Plan, (b) change or expand the types
    of Incentives that may be granted under the Plan,
    (c) change the class of persons eligible to receive
    Incentives under the Plan, or (d) materially increase the
    benefits accruing to participants under the Plan.
|
| | 10.12. | Sale, Merger, Exchange or Liquidation. Unless otherwise
    provided in the agreement for an Incentive, in the event of an
    acquisition of the Company through the sale of substantially all
    of the Companys assets or through a merger, exchange,
    reorganization or liquidation of the Company or a similar event
    as determined by the Committee (collectively a
    transaction), the Committee shall be authorized, in
    its sole discretion, to take any and all action it deems
    equitable under the circumstances, including but not limited to
    any one or more of the following:                                                                                                                         



| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
| | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (1) | providing that the Plan and all Incentives shall terminate and
    the holders of (i) all outstanding vested options shall
    receive, in lieu of any shares of Common Stock they would be
    entitled to receive under such options, such stock, securities
    or assets, including cash, as would have been paid to such
    participants if their options had been exercised and such
    participant had received Common Stock immediately prior to such
    transaction (with appropriate adjustment for the exercise price,
    if any), (ii) performance shares and/or SARs that entitle
    the participant to receive Common Stock shall receive, in lieu
    of any shares of Common Stock each participant was entitled to
    receive as of the date of the transaction pursuant to the terms
    of such Incentive, if any, such stock, securities or assets,
    including cash, as would have been paid to such participant if
    such Common Stock had been issued to and

A-7



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##### 



| |  |                                                                                                                                                                                                                                                  
| |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | held by the participant immediately prior to such transaction,
    and (iii) any Incentive under this Agreement which does not
    entitle the participant to receive Common Stock shall be
    equitably treated as determined by the Committee.



| |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | (2) | providing that participants holding outstanding vested Common
    Stock based Incentives shall receive, with respect to each share
    of Common Stock issuable pursuant to such Incentives as of the
    effective date of any such transaction, at the determination of
    the Committee, cash, securities or other property, or any
    combination thereof, in an amount equal to the excess, if any,
    of the Fair Market Value of such Common Stock on a date within
    ten days prior to the effective date of such transaction over
    the option price or other amount owed by a participant, if any,
    and that such Incentives shall be cancelled, including the
    cancellation without consideration of all options that have an
    exercise price below the per share value of the consideration
    received by the Company in the transaction.
|
| | (3) | providing that the Plan (or replacement plan) shall continue
    with respect to Incentives not cancelled or terminated as of the
    effective date of such transaction and provide to participants
    holding such Incentives the right to earn their respective
    Incentives on a substantially equivalent basis (taking into
    account the transaction and the number of shares or other equity
    issued by such successor entity) with respect to the equity of
    the entity succeeding the Company by reason of such transaction.                                                                                                                                                                                                                                                                                                                       
|
| | (4) | providing that all unvested, unearned or restricted Incentives,
    including but not limited to restricted stock for which
    restrictions have not lapsed as of the effective date of such
    transaction, shall be void and deemed terminated, or, in the
    alternative, for the acceleration or waiver of any vesting,
    earning or restrictions on any Incentive.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           



| |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | The Board may restrict the rights of participants or the
    applicability of this Section 10.12 to the extent necessary
    to comply with Section 16(b) of the Securities Exchange Act
    of 1934, the Internal Revenue Code or any other applicable law
    or regulation. The grant of an Incentive award pursuant to the
    Plan shall not limit in any way the right or power of the
    Company to make adjustments, reclassifications, reorganizations
    or changes of its capital or business structure or to merge,
    exchange or consolidate or to dissolve, liquidate, sell or
    transfer all or any part of its business or assets.



| |        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
| | ------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | 10.13. | Definition of Fair Market Value. For purposes of this
    Plan, the Fair Market Value of a share of Common
    Stock at a specified date shall, unless otherwise expressly
    provided in this Plan, be the amount which the Committee or the
    Board of Directors determines in good faith to be 100% of the
    fair market value of such a share as of the date in question;
    provided, however, that notwithstanding the foregoing, if such
    shares are listed on a U.S. securities exchange or are
    quoted on the Nasdaq National Market or Nasdaq Small-Cap Market
    (Nasdaq), then Fair Market Value shall be determined
    by reference to the last sale price of a share of Common Stock
    on such U.S. securities exchange or Nasdaq on the
    applicable date. If such U.S. securities exchange or Nasdaq
    is closed for trading on such date, or if the Common Stock does
    not trade on such date, then the last sale price used shall be
    the one on the date the Common Stock last traded on such
    U.S. securities exchange or Nasdaq.

A-8