EXHIBIT 10(ss) The Dess Barn Inc. 2001 Stock Plan



                              THE DRESS BARN, INC.
                             2001 STOCK OPTION PLAN

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                                TABLE OF CONTENTS

ARTICLE I.            PURPOSE.................................................1
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ARTICLE II.           DEFINITIONS.............................................1
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ARTICLE III.          ADMINISTRATION..........................................4
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ARTICLE IV.           SHARE AND OTHER LIMITATIONS.............................6
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ARTICLE V.            ELIGIBILITY.............................................8
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ARTICLE VI.           STOCK OPTIONS...........................................9
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ARTICLE VII.          NON-TRANSFERABILITY.....................................11
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ARTICLE VIII.         CHANGE IN CONTROL PROVISIONS............................12
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ARTICLE IX.           TERMINATION OR AMENDMENT OF THE PLAN....................13
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ARTICLE X.            UNFUNDED PLAN...........................................13
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ARTICLE XI.           GENERAL PROVISIONS......................................14
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ARTICLE XII.          EFFECTIVE DATE OF PLAN..................................16
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ARTICLE XIII.         TERM OF PLAN............................................16
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ARTICLE XIV.          NAME OF PLAN............................................16
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                              The Dress Barn, Inc.
                             2001 Stock Option Plan



ARTICLE I.........

                                     PURPOSE

     The purpose of The Dress Barn,  Inc. 2001 Stock Option Plan (the "Plan") is
to enhance the  profitability  and value of Dress Barn, Inc. (the "Company") for
the benefit of its  stockholders  by enabling the Company to offer employees and
other  service  providers  of the Company  and its  Affiliates,  Stock  Options,
thereby  creating a means to raise the level of stock ownership by employees and
service  providers in order to attract,  retain and reward such  individuals and
strengthen the mutuality of interests between such individuals and the Company's
stockholders. The Plan is effective as of the date set forth in Article XII.

ARTICLE II........

                                   DEFINITIONS

     For purposes of this Plan,  the  following  terms shall have the  following
meanings:

2.1  "Acquisition Events" shall have the meaning set forth in Section 4.2(d).

2.2  "Affiliate"  shall mean other than the Company,  (i) any  corporation in an
     unbroken chain of corporations  beginning with the Company, or in the event
     the Company is a Subsidiary,  beginning  with the Company's  Parent,  which
     owns stock  possessing  fifty percent  (50%) or more of the total  combined
     voting  power of all classes of stock in one of the other  corporations  in
     such chain;  (ii) any corporation,  trade or business  (including,  without
     limitation, a partnership or limited liability company) which is controlled
     fifty percent  (50%) or more  (whether by ownership of stock,  assets or an
     equivalent ownership interest or voting interest) by the Company and/or its
     Affiliates;  or (iii) any other  entity,  approved by the  Committee  as an
     Affiliate under the Plan, in which the Company or any of its Affiliates has
     a material equity interest.

2.3  "Award" shall mean any award under this Plan of Stock  Options.  All Awards
     shall be  confirmed  by, and  subject to the terms of, a written  agreement
     executed by the Company and the  Participant  or in the  discretion  of the
     Committee, a grant letter from the Company.

2.4  "Board" shall mean the Board of Directors of the Company.

2.5  "Cause" shall mean, with respect to a Participants' Termination, any of the
     following: (i) willful malfeasance,  willful misconduct or gross negligence
     by the  Participant in connection  with his or her duties,  (ii) continuing
     refusal  by a  Participant  to perform  his or her duties  under any lawful
     direction  of his or her  supervisor  or the Board after notice of any such
     refusal to perform such duties or direction was given to such  Participant,
     (iii) any  willful  and  material  breach of  fiduciary  duty  owing to the
     Company  or its  Affiliates  by the  Participant,  (iv)  the  Participant's
     conviction  of a felony or any other crime  resulting in pecuniary  loss to
     the  Company or its  Affiliates  (including,  but not  limited  to,  theft,
     embezzlement  or fraud)  or  involving  moral  turpitude,  or (v)  habitual
     drunkenness or narcotics addition.

2.6  "Change in Control" shall have the meaning set forth in Article VIII.

2.7  "Code" shall mean the Internal Revenue Code of 1986, as amended.

2.8  "Committee"  shall mean (a) with respect to the application of this Plan to
     Eligible  Employees a committee of the Board appointed from time to time by
     the Board,  which  committee  shall be  intended  to consist of two or more
     Non-Employee Directors, each of whom shall be (i) a "non-employee director"
     as defined in Rule 16b-3 and (ii) to the extent  required by Section 162(m)
     of the Code, an "outside  director" as defined under Section  162(m) of the
     Code and (b) with respect to the  application of this Plan to  Non-Employee
     Directors,  the Board.  Notwithstanding the foregoing, if and to the extent
     that no Committee  exists which has the authority to  administer  the Plan,
     the functions of the Committee  shall be exercised by the Board. If for any
     reason the appointed Committee does not meet the requirements of Rule 16b-3
     or Section 162(m) of the Code, such  noncompliance with the requirements of
     Rule 16b-3 or Section  162(m) of the Code shall not affect the  validity of
     the awards, grants, interpretations or other actions of the Committee.

2.9  "Common  Stock" shall mean subject to Article IV hereof,  the common stock,
     $.05 par value per share, of the Company.

2.10 "Company" shall mean The Dress Barn, Inc. and any successors and assigns.

2.11 "Consultant"  means any  person  who is an  advisor  or  consultant  to the
     Company or its Affiliates.

2.12 "Disability" shall mean, with respect to a Participant's  Termination,  the
     failure or inability of a Participant  to perform  substantially  the usual
     duties and  obligations of such  individual on behalf of the Company or its
     Affiliates for one hundred eighty (180) days during any two hundred seventy
     (270)  day  period  because  of  any  mental  or  physical  incapacity,  as
     determined by the Committee in its sole discretion.

2.13 "Effective  Date" shall mean the  effective  date of the Plan as defined in
     Article XII.

2.14 "Eligible  Employees"  shall  mean the  employees  of the  Company  and its
     Affiliates who hold  executive or other  positions in the management of the
     affairs  of  the  Company  and  of its  Affiliates,  including  Prospective
     Employees,  who are  eligible  pursuant  to Article V to be granted  Awards
     under this Plan.  Notwithstanding the foregoing,  with respect to the grant
     of Incentive Stock Options,  Eligible Employees shall mean the employees of
     the Company and its Affiliates who are eligible pursuant to Article V to be
     granted Incentive Stock Options under the Plan.

2.15 "Exchange Act" shall mean the Securities Exchange Act of 1934.

2.16 "Fair Market Value" for purposes of this Plan, unless otherwise required by
     any applicable  provision of the Code or any regulations issued thereunder,
     shall mean, as of any date,  the mean between the high and low sales prices
     of the  Common  Stock  on the  applicable  date,  (i)  as  reported  by the
     principal national  securities exchange in the United States on which it is
     then traded or The Nasdaq Stock  Market,  Inc. or (ii) if not traded on any
     such  national  securities  exchange or The Nasdaq Stock  Market,  Inc., as
     quoted  on  an  automated   quotation  system  sponsored  by  the  National
     Association of Securities  Dealers,  Inc., or if the Common Stock shall not
     have been  reported or quoted on such date,  on the first day prior thereto
     on which the  Common  Stock  was  reported  or  quoted;  provided  that the
     Committee  may modify the  definition  of Fair Market  Value to reflect any
     changes in the trading  practices of any exchange on which the Common Stock
     is listed or traded.  For  purposes of the grant of any Stock  Option,  the
     applicable  date  shall be the day prior to the date on which the Option is
     granted.  Notwithstanding the foregoing,  if the Committee  determines that
     such mean does not  properly  reflect the fair  market  value of the Common
     Stock,  the Fair Market Value shall be determined  by the  Committee  using
     such  method as it deems  reasonable  and  consistent  with the  applicable
     requirements  of the Code and the  regulations  issued  thereunder that are
     applicable to incentive stock options.

2.17 "Incentive Stock Option" shall mean any Stock Option awarded to an Eligible
     Employee (other than a Prospective Employee) under this Plan intended to be
     and designated as an "Incentive Stock Option" within the meaning of Section
     422 of the Code.

2.18 "Non-Employee  Director" shall mean a director of the Company who is not an
     active employee of the Company or an Affiliate.

2.19 "Non-Qualified Stock Option" shall mean any Stock Option awarded under this
     Plan that is not an Incentive Stock Option.

2.20 "Parent"  shall  mean any  parent  corporation  of the  Company  within the
     meaning of Section 424(e) of the Code.

2.21 "Participant"  shall mean a person to whom an Award has been made  pursuant
     to this Plan.

2.22 "Prospective Employee" shall mean an individual who has committed to become
     an employee of the Company or an Affiliate  within sixty (60) days from the
     date an Award is to be granted to such individual.

2.23 "Retirement"  shall  mean a  Termination  without  Cause  at or  after  age
     sixty-five  (65) if the  Participant had been employed by the Company or an
     Affiliate  for at least one year or age sixty (60) if the  Participant  has
     been employed by the Company or an Affiliate for at least three (3) years.

2.24 "Rule 16b-3" shall mean Rule 16b-3 under  Section 16(b) of the Exchange Act
     as then in effect or any successor provisions.

2.25 "Section 162(m) of the Code" shall mean the exception for performance-based
     compensation under Section 162(m) of the Code and any Treasury  regulations
     thereunder.

2.26 "Stock  Option" or  "Option"  shall mean any Option to  purchase  shares of
     Common  Stock  granted to Eligible  Employees,  Non-Employee  Directors  or
     Consultants pursuant to Article VI.

2.27 "Subsidiary"  shall mean any  subsidiary  corporation of the Company within
     the meaning of Section 424(f) of the Code.

2.28 "Ten Percent  Stockholder" shall mean a person owning stock possessing more
     than 10% of the total combined  voting power of all classes of stock of the
     Company, its Subsidiaries or its Parent.

2.29 "Termination"   means  a  Termination   of   Consultancy,   Termination  of
     Directorship or Termination of Employment, as applicable.

2.30 "Termination  of Consultancy"  means:  (a) that the Consultant is no longer
     acting as a  consultant  to the  Company  or an  Affiliate;  or (b) when an
     entity which is  retaining a  Participant  as a Consultant  ceases to be an
     Affiliate  unless the  Participant  otherwise is, or thereupon  becomes,  a
     Consultant  to the  Company  or  another  Affiliate  at the time the entity
     ceases  to be an  Affiliate.  In the event  that a  Consultant  becomes  an
     Eligible Employee or a Non-Employee Director upon the termination of his or
     her consultancy,  unless otherwise determined by the Committee, in its sole
     discretion,  no Termination  of Consultancy  shall be deemed to occur until
     such  time as such  Consultant  is no  longer  a  Consultant,  an  Eligible
     Employee or a Non-Employee  Director.  Notwithstanding  the foregoing,  the
     Committee may otherwise  define  Termination  of  Consultancy  in the Award
     agreement  or, if no rights of a  Participant  are reduced,  may  otherwise
     define Termination of Consultancy thereafter.

2.31 "Termination  of  Directorship"  shall mean, with respect to a Non-Employee
     Director, that the Non-Employee Director has ceased to be a director of the
     Company. In the event that a Non-Employee  Director becomes a Consultant or
     an  Eligible  Employee  upon the  termination  of his or her  directorship,
     unless otherwise  determined by the Committee,  in its sole discretion,  no
     Termination  of  Directorship  shall be deemed to occur  until such time as
     such Non-Employee  Director is no longer an Eligible Employee, a Consultant
     or a Non-Employee  Director. The Committee may otherwise define Termination
     of  Directorship  in the Award  agreement or, if no rights of a Participant
     are reduced, may otherwise define Termination of Directorship thereafter.

2.32 "Termination of Employment," except as provided in the next sentence, shall
     mean (1) a  termination  of service (for  reasons  other than a military or
     personal leave of absence granted by the Company) of a Participant from the
     Company  and  its  Affiliates;  or  (2)  an  entity  that  is  employing  a
     Participant has ceased to be an Affiliate, unless the Participant thereupon
     becomes employed by the Company or another Affiliate.  In the event that an
     Eligible Employee becomes a Consultant or a Non-Employee  Director upon the
     termination of his or her employment,  unless  otherwise  determined by the
     Committee,  in its sole  discretion,  no Termination of Employment shall be
     deemed to occur until such time as such  Eligible  Employee is no longer an
     Eligible Employee, a Consultant or a Non-Employee  Director.  The Committee
     may otherwise  define  Termination of Employment in the Award agreement or,
     if no rights of a Participant are reduced, may otherwise define Termination
     of Employment thereafter.

2.33 "Transfer" or "Transferred" shall mean anticipate,  alienate, attach, sell,
     assign, pledge, encumber, charge or otherwise transfer.


ARTICLE III.......

                                 ADMINISTRATION

3.1 The  Committee.
The  Plan shall be administered and interpreted by the Committee.

3.2 Awards.
The Committee shall have full authority to grant,  pursuant to the terms of this
Plan,  Stock  Options  to  Eligible  Employees,   Consultants  and  Non-Employee
Directors. In particular, the Committee shall have the authority:

(a)  to select the Eligible Employees, Consultants and Non-Employee Directors to
     whom Awards may from time to time be granted hereunder;

(b)  to determine whether and to what extent Awards, or any combination thereof,
     are to be granted hereunder to one or more Eligible Employees,  Consultants
     and Non-Employee Directors;

(c)  to  determine  the  number of shares of Common  Stock to be covered by each
     Award granted hereunder;

(d)  to determine the terms and conditions,  not inconsistent  with the terms of
     this Plan, of any Award granted hereunder  (including,  but not limited to,
     the share price,  any  restriction or limitation,  any vesting  schedule or
     acceleration  thereof,  or any forfeiture  restrictions  or waiver thereof,
     regarding any Award, and the shares of Common Stock relating thereto, based
     on such factors,  if any, as the  Committee  shall  determine,  in its sole
     discretion);

(e)  to  determine  whether and under what  circumstances  a Stock Option may be
     settled in cash and/or Common Stock under Subsection 6.3(d);

(f)  to  determine  whether,  to what  extent  and under what  circumstances  to
     provide  loans  (which  shall  be on a  recourse  basis  and  shall  bear a
     reasonable  rate  of  interest)  to  Eligible  Employees,   Consultants  or
     Non-Employee  Directors  in order to purchase  shares of Common Stock under
     the Plan;

(g)  to modify,  extend or renew a Stock  Option,  subject to  Sections  9.1 and
     6.3(g)  hereof,  provided,  however,  that if a Stock  Option is  modified,
     extended or renewed and  thereby  deemed to be the  issuance of a new Stock
     Option  under the Code or the  applicable  accounting  rules,  the exercise
     price of such Stock Option may continue to be the original  exercise  price
     even if less than the Fair Market  Value of the Common Stock at the time of
     such modification, extension or renewal;

(h)  to  determine  whether  a Stock  Option  is an  Incentive  Stock  Option or
     Non-Qualified Stock Option; and

(i)  to  determine  whether to  require  an  Eligible  Employee,  Consultant  or
     Non-Employee  Director,  as a condition of the granting of an Award, not to
     sell or otherwise dispose of shares acquired pursuant to the exercise of an
     Option for a period of time as  determined  by the  Committee,  in its sole
     discretion, following the date of the acquisition of such Option.

3.3 Guidelines.

(a)  Subject to Article IX hereof,  the  Committee  shall have the  authority to
     adopt, alter and repeal such administrative rules, guidelines and practices
     governing  this Plan and perform all acts,  including the delegation of its
     administrative  responsibilities,  as it  shall,  from  time to time,  deem
     advisable;  to construe and interpret the terms and provisions of this Plan
     and any Award issued under this Plan (and any agreements relating thereto);
     and to otherwise  supervise the  administration of this Plan. The Committee
     may correct any defect,  supply any omission or reconcile any inconsistency
     in this Plan or in any agreement  relating thereto in the manner and to the
     extent it shall  deem  necessary  to carry  this Plan into  effect.  To the
     extent  applicable,  this Plan is intended  to comply  with the  applicable
     requirements  of Rule  16b-3 and with  regard to  Options,  the  applicable
     provisions  of Section  162(m) of the Code and shall be limited,  construed
     and interpreted in a manner so as to comply therewith.

(b)  Without  limiting the foregoing,  the Committee shall have the authority to
     establish  special  guidelines,  provisions  and  procedures  applicable to
     Awards  granted to persons who are  residing or employed in, or subject to,
     the  taxes of,  countries  other  than the  United  States  to  accommodate
     differences in applicable tax, securities or other local law. The Committee
     may adopt  supplements  or  amendments  to the Plan to reflect the specific
     requirements   of  local  laws  and   procedures   of   non-United   States
     jurisdictions without affecting the terms of the Plan as then in effect for
     any other purposes.

3.4 Decisions Final.
Any decision,  interpretation  or other action made or taken in good faith by or
at the  direction of the Company,  the Board,  or the  Committee  (or any of its
members)  arising  out of or in  connection  with the Plan  shall be within  the
absolute  discretion  of all and each of them,  as the case may be, and shall be
final,  binding and conclusive on the Company and all employees and Participants
and their respective heirs, executors, administrators, successors and assigns.

3.5  Procedures.
If the Committee is appointed, the Board of Directors shall designate one of the
members of the  Committee as chairman  and the  Committee  shall hold  meetings,
subject to the By-Laws of the Company, at such times and places as the Committee
shall deem advisable,  including, without limitation, by telephone conference or
by written  consent.  A majority of the  Committee  members  shall  constitute a
quorum.  All  determinations of the Committee shall be made by a majority of its
members. Any decision or determination  reduced to writing and signed by all the
Committee members in accordance with the By-Laws of the Company,  shall be fully
as effective as if it had been made by a vote at a meeting duly called and held.
The  Committee  shall keep minutes of its meetings and shall make such rules and
regulations for the conduct of its business as it shall deem advisable.

3.6 Designation of Consultants/Liability.

(a)  The  Committee  may  designate  employees  of the Company and  professional
     advisors to assist the Committee in the  administration of the Plan and may
     grant  authority to employees to execute  agreements or other  documents on
     behalf of the Committee.

(b)  The Committee may employ such legal counsel,  consultants  and agents as it
     may deem desirable for the administration of the Plan and may rely upon any
     opinion  received from any such counsel or consultant  and any  computation
     received  from any such  consultant  or  agent.  Expenses  incurred  by the
     Committee or Board in the  engagement  of any such  counsel,  consultant or
     agent  shall be paid by the  Company.  The  Committee,  its members and any
     person  designated  pursuant to paragraph (a) above shall not be liable for
     any action or determination made in good faith with respect to the Plan. To
     the  maximum  extent  permitted  by  applicable  law,  no officer or former
     officer of the Company or member or former  member of the  Committee  or of
     the Board  shall be liable  for any  action or  determination  made in good
     faith  with  respect  to the Plan or any  Award  granted  under  it. To the
     maximum  extent   permitted  by  applicable  law  and  the  Certificate  of
     Incorporation  and  By-Laws of the Company and to the extent not covered by
     insurance directly insuring such person, each officer or former officer and
     member  or  former  member  of the  Committee  or of  the  Board  shall  be
     indemnified  and held  harmless by the Company  against any cost or expense
     (including reasonable fees of counsel reasonably acceptable to the Company)
     or  liability  (including  any sum paid in  settlement  of a claim with the
     approval  of the  Company),  and  advanced  amounts  necessary  to pay  the
     foregoing at the earliest time and to the fullest extent permitted, arising
     out of any act or omission to act in connection with the  administration of
     the Plan,  except to the extent  arising  out of such  officer's  or former
     officer's,  member's  or  former  member's  own  fraud or bad  faith.  Such
     indemnification  shall be in addition to any rights of indemnification  the
     employee, officer, director or member or former employee, officer, director
     or  member  may have  under  applicable  law or under  the  Certificate  of
     Incorporation  or By-Laws of the Company or any Affiliate.  Notwithstanding
     anything else herein, this indemnification will not apply to the actions or
     determinations  made by an individual  with regard to Awards granted to him
     or her under this Plan.


ARTICLE IV.

                           SHARE AND OTHER LIMITATIONS

4.1 Shares.

(a)  General Limitation. The aggregate number of shares of Common Stock that may
     be the subject of Awards under this Plan shall not exceed  1,500,000 shares
     (subject to any increase or decrease  pursuant to Section 4.2) which may be
     either  authorized  and  unissued  Common  Stock or Common Stock held in or
     acquired for the treasury of the Company or both.  If either (i) any Option
     granted under this Plan  expires,  terminates or is canceled for any reason
     without having been exercised in full or (ii) the Company  repurchases  any
     Option  pursuant  to Section  6.3(e),  the number of  underlying  shares of
     Common Stock shall again be available  for the purposes of Awards under the
     Plan.  In  addition,  in  determining  the number of shares of Common Stock
     available  for Awards  other than Awards of  Incentive  Stock  Options,  if
     Common Stock has been exchanged by a Participant as full or partial payment
     to the  Company,  or for  required  withholding,  in  connection  with  the
     exercise  of a Stock  Option  or the  number  of  shares  of  Common  Stock
     otherwise  deliverable  has been  reduced  for  withholding,  the number of
     shares of Common Stock exchanged as payment in connection with the exercise
     or for  withholding  or reduced for  withholding  shall again be  available
     under the Plan.

(b)  Individual  Participant  Limitations.  (i) The maximum  number of shares of
     Common  Stock  subject to any Option  which may be granted  under this Plan
     during any calendar year of the Company to any Eligible  Employee shall not
     exceed  150,000  shares  (subject to any  increase or decrease  pursuant to
     Section 4.2). If the Company  grants Options to a Participant to purchase a
     number  of  shares of  Common  Stock  that is less than the  aforementioned
     individual Participant limitation, or does not grant any Options during any
     calendar year to a Participant,  then the amount of such shortfall shall be
     carried forward and added to the individual  share limitation in subsequent
     years with respect to such Participant until the shortfall is eliminated.

4.2 Changes.

(a)  The existence of the Plan and the Awards granted hereunder shall not affect
     in any way the  right  or power of the  Board  or the  stockholders  of the
     Company   to   make  or   authorize   any   adjustment,   recapitalization,
     reorganization  or other change in the Company's  capital  structure or its
     business, any merger or consolidation of the Company or its Affiliates, any
     issue of bonds, debentures, preferred or prior preference stock ahead of or
     affecting  Common Stock,  the  dissolution or liquidation of the Company or
     its  Affiliates,  any  sale or  transfer  of all or part of its  assets  or
     business or any other corporate act or proceeding.

(b)  In the event of any such change in the capital structure or business of the
     Company by reason of any stock  dividend  or  distribution,  stock split or
     reverse   stock   split,    recapitalization,    reorganization,    merger,
     consolidation,  split-up,  combination  or  exchange  of  shares,  non-cash
     distribution with respect to its outstanding  Common Stock of capital stock
     other than Common Stock, reclassification of its capital stock, any sale or
     transfer of all or part of the Company's assets or business, or any similar
     change  affecting  the  Company's  capital  structure  or business  and the
     Committee  determines  in good faith that an  adjustment  is  necessary  or
     appropriate under the Plan to reflect the change, then the aggregate number
     and kind of shares which  thereafter  may be issued under this Plan and the
     number and kind of shares or other property  (including  cash) to be issued
     upon  exercise of an  outstanding  Option  granted  under this Plan and the
     purchase price thereof shall be appropriately adjusted consistent with such
     change,  and such other changes in the Awards may be made in such manner as
     the Committee may deem necessary or appropriate to reflect the change,  and
     any such  adjustment  determined  by the  Committee  in good faith shall be
     binding and  conclusive on the Company and all  Participants  and employees
     and their  respective  heirs,  executors,  administrators,  successors  and
     assigns.  Except as provided in this Section 4.2, a Participant  shall have
     no rights by  reason of any issue by the  Company  of stock of any class or
     securities  convertible  into  stock  of  any  class,  any  subdivision  or
     consolidation  of shares of stock of any  class,  the  payment of any stock
     dividend,  any other  increase or decrease in the number of shares of stock
     of any class,  any sale or transfer of all or part of the Company's  assets
     or business or any other change affecting the Company's  capital  structure
     or business.

(c)  Fractional  shares of Common Stock resulting from any adjustment in Options
     pursuant to Section 4.2(a) or (b) shall be aggregated until, and eliminated
     at, the time of  exercise.  No  fractional  shares of Common Stock shall be
     issued under the Plan. The Committee must, in its sole discretion, pay cash
     settlements in lieu of any fractional  shares of Common Stock in settlement
     of awards under the Plan.  Notice of any  adjustment  shall be given by the
     Committee  to each  Participant  whose  Option has been  adjusted  and such
     adjustment  (whether or not such notice is given)  shall be  effective  and
     binding for all purposes of the Plan.

(d)  In the event of a merger or  consolidation  in which the Company is not the
     surviving  entity or in the event of any  transaction  that  results in the
     acquisition of substantially all of the Company's  outstanding Common Stock
     by a single  person  or  entity or by a group of  persons  and/or  entities
     acting  in  concert,  or in the  event  of the sale or  transfer  of all or
     substantially  all of the  Company's  assets  (all of the  foregoing  being
     referred to as "Acquisition  Events"),  then the Committee may, in its sole
     discretion,  terminate  all  outstanding  Options  of  Eligible  Employees,
     Consultants  or  Non-Employee  Directors  effective  as of the  date of the
     Acquisition  Event,  by  delivering  notice  of  termination  to each  such
     Participant at least twenty (20) days prior to the date of  consummation of
     the Acquisition Event;  provided,  that, unless otherwise determined at the
     time of grant,  during  the period  from the date on which  such  notice of
     termination is delivered to the consummation of the Acquisition Event, each
     Eligible  Employee  shall have the right to  exercise in full all of his or
     her Options  that are then  outstanding  (whether  vested or not vested and
     without regard to any limitations on exercisability  otherwise contained in
     the Option) but  contingent on occurrence of the  Acquisition  Event,  and,
     provided  that,  if the  Acquisition  Event  does not take  place  within a
     specified  period after giving such notice for any reason  whatsoever,  the
     notice and exercise shall be null and void. If an Acquisition Event occurs,
     to the extent the  Committee  does not terminate  the  outstanding  Options
     pursuant to this Section  4.2(d),  then the  provisions  of Section  4.2(b)
     shall apply.

4.3 Minimum  Purchase Price.
Notwithstanding  any provision of this Plan to the contrary,  if authorized  but
previously  unissued  shares of Common  Stock are issued  under this Plan,  such
shares shall not be issued for a consideration which is less than par value.


ARTICLE V.

                                   ELIGIBILITY

5.1 General Eligibility.
All Eligible  Employees,  Prospective  Employees,  Consultants and  Non-Employee
Directors  of the Company  and its  Affiliates  shall be eligible  for grants of
Non-Qualified Stock Options.  Eligibility for the grant of a Non-Qualified Stock
Option  and  actual  participation  in this  Plan  shall  be  determined  by the
Committee in its sole discretion.

5.2 Incentive Stock Options.
All Eligible  Employees of the Company and its Affiliates  shall be eligible for
grants of Incentive Stock Options under this Plan.  Eligibility for the grant of
an  Incentive  Stock  Option  and  actual  participation  in this Plan  shall be
determined by the Committee in its sole discretion.

5.3 General Requirement.
The  vesting  and  exercise  of Awards  granted  to a  Prospective  Employee  or
Consultant are conditioned  upon such individual  actually  becoming an Eligible
Employee or Consultant.


ARTICLE VI.

                                  STOCK OPTIONS

6.1 Options.
Each Stock Option granted  hereunder shall be one of two types: (i) an Incentive
Stock Option intended to satisfy the requirements of Section 422 of the Code; or
(ii) a Non-Qualified Stock Option.

6.2 Grants.
Subject to the  provisions of Article V, the Committee  shall have the authority
to  grant  to  any  Eligible  Employee  one or  more  Incentive  Stock  Options,
Non-Qualified  Stock Options or any combination  thereof. To the extent that any
Stock Option does not qualify as an Incentive Stock Option  (whether  because of
its provisions or the time or manner of its exercise or  otherwise),  such Stock
Option or the portion  thereof  which does not so qualify,  shall  constitute  a
separate  Non-Qualified  Stock Option. The Committee shall have the authority to
grant any Consultant or Non-Employee  Director one or more  Non-Qualified  Stock
Options.

6.3 Terms of Options.
Options  granted  under this Plan shall be  subject to the  following  terms and
conditions,  and,  shall be in such form and contain such  additional  terms and
conditions, not inconsistent with the terms of this Plan, as the Committee shall
deem desirable:

(a)  Exercise Price.  The exercise price per share of Common Stock subject to an
     Incentive  Stock Option shall be determined by the Committee at the time of
     grant, but shall not be less than 100% of the Fair Market Value of a Common
     Stock at the time of grant;  provided,  however, that if an Incentive Stock
     Option is granted to a Ten Percent Stockholder, the exercise price shall be
     no less than 110% of the Fair Market Value of a share of Common Stock.  The
     exercise price per share of Common Stock  purchasable under a Non-Qualified
     Stock Option shall be determined by the Committee at the time of grant.

(b)  Option Term. The term of each Stock Option shall be fixed by the Committee,
     but no Stock Option shall be exercisable more than ten (10) years after the
     date the Option is granted;  provided,  however,  the term of an  Incentive
     Stock Option granted to a Ten Percent Stockholder shall not exceed five (5)
     years.

(c)  Exercisability.  Stock Options shall be  exercisable  at such time or times
     and  subject to such terms and  conditions  as shall be  determined  by the
     Committee at grant. If the Committee provides, in its discretion,  that any
     Stock  Option is  exercisable  subject to certain  limitations  (including,
     without  limitation,  that it is exercisable only in installments or within
     certain  time  periods),   the  Committee  may  waive  limitations  on  the
     exercisability  at  any  time  at or  after  grant  in  whole  or  in  part
     (including,   without  limitation,   waiver  of  the  installment  exercise
     provisions or  acceleration of the time at which Options may be exercised),
     based on such factors,  if any, as the Committee  shall  determine,  in its
     sole  discretion  provided,   that,  unless  otherwise  determined  by  the
     Committee  at grant,  the grant shall  provide  that as a condition  of the
     exercise of an Option,  the Participant shall be required to certify at the
     time of exercise in a manner acceptable to the Company that the Participant
     is in compliance with the terms and conditions of the Plan.

(d)  Method of Exercise.  Subject to whatever  installment  exercise and waiting
     period  provisions apply under  subsection (c) above,  Stock Options may be
     exercised in whole or in part at any time during the Option term, by giving
     written  notice of exercise to the Company  specifying the number of shares
     to be purchased  accompanied by payment in full of the purchase price,  and
     such notice must specify the date (not to exceed more than ninety (90) days
     after the date of such  notice) on which  such  shares  will be  purchased.
     Payment of the purchase price for shares of Common Stock issued pursuant to
     the exercise of an Option may be made as follows:  (i) in cash or by check,
     bank draft or money order payable to the order of Company; (ii) through the
     delivery to the Company of shares of Common Stock owned by the  Participant
     for a period of at least six (6) months (and for which the  Participant has
     good title free and clear of any liens and encumbrances)  based on the Fair
     Market Value of the Common Stock on the payment  date;  (iii) on such other
     terms and  conditions  as may be  acceptable  to the  Committee  (which may
     include a reduction in the number of shares of Common Stock  issuable  upon
     exercise, based on the Fair Market Value of the Common Stock on the payment
     date) or (iv) any  combination  of the  foregoing.  Payment  for  shares of
     Common Stock  purchased  pursuant to exercise of an Option shall be made at
     the principal  offices of the Company.  For purposes of this  Section,  the
     date of  issuance  shall  be the date  upon  which  payment  in full of the
     purchase  price  has been  received  by (or  tendered  to) the  Company  as
     provided  herein.  No shares of Common Stock shall be issued until payment,
     as provided herein, therefor has been made or provided for.

(e)  Buy Out and Settlement Provisions.  The Committee may at any time on behalf
     of the Company offer to buy out an Option previously granted, based on such
     terms and conditions as the Committee  shall  establish and  communicate to
     the Participant at the time that such offer is made.

(f)  Incentive Stock Option  Limitations.  To the extent that the aggregate Fair
     Market Value  (determined as of the time of grant) of the Common Stock with
     respect to which Incentive Stock Options are exercisable for the first time
     by an Eligible Employee during any calendar year under this Plan and/or any
     other  stock  option  plan of the  Company,  any  Subsidiary  or any Parent
     exceeds  $100,000,  such Options  shall be treated as  Non-Qualified  Stock
     Options.  In addition,  if an Eligible Employee does not remain employed by
     the  Company,  any  Subsidiary  or any Parent at all times from the time an
     Incentive  Stock Option is granted until three (3) months prior to the date
     of exercise  thereof (or such other period as required by applicable  law),
     such Stock Option shall be treated as a Non-Qualified Stock Option.  Should
     any  provision of this Plan not be necessary in order for the Stock Options
     to qualify as Incentive Stock Options, or should any additional  provisions
     be required,  the  Committee may amend this Plan  accordingly,  without the
     necessity of obtaining the approval of the stockholders of the Company.

(g)  Form, Modification,  Extension and Renewal of Options. Subject to the terms
     and conditions  and within the  limitations of the Plan, an Option shall be
     evidenced by such form of agreement  as is approved by the  Committee,  and
     the Committee may modify, extend or renew outstanding Options granted under
     the Plan, and accept the surrender of outstanding Options (up to the extent
     not  theretofore  exercised)  and  authorize the granting of new Options in
     substitution   therefor   (to  the  extent  not   theretofore   exercised).
     Notwithstanding the foregoing, an outstanding Option may not be modified to
     reduce the exercise  price thereof nor may a new Option at a lower price be
     substituted for a surrendered Option, provided that the foregoing shall not
     apply to adjustments or substitutions in accordance with Section 4.2.

(h)  Other Terms and  Conditions.  Options may  contain  such other  provisions,
     which  shall not be  inconsistent  with any of the  foregoing  terms of the
     Plan,  as  the  Committee  shall  deem   appropriate   including,   without
     limitation,  permitting  "reloads" such that the same number of Options are
     granted  as the  number of  shares  used to pay for the  exercise  price of
     Options or shares used to pay withholding taxes  ("Reloads").  With respect
     to Reloads,  the  exercise  price of the new Stock Option shall be the Fair
     Market  Value on the date of the  "reload" and the term of the Stock Option
     shall be the same as the remaining  term of the Options that are exercised,
     if  applicable,  or such other exercise price and term as determined by the
     Committee.

6.4 Termination.
The  following  rules apply with  regard to Options  upon the  Termination  of a
Participant,  unless  otherwise  determined  by the Committee at grant or, if no
rights of the  Participant  or in the case of his death his estate are  reduced,
thereafter.

(a)  Termination by Reason of Death. If a Participant's Termination is by reason
     of death,  any Stock Option held by such  Participant may be exercised,  to
     the  extent   exercisable  at  the   Participant's   death,  by  the  legal
     representative of the estate, at any time within a period of six (6) months
     from the date of such death,  but in no event beyond the  expiration of the
     stated term of such Stock Option.

(b)  Termination by Reason of Disability.  If a Participant's  Termination is by
     reason of  Disability,  any Stock Option held by such  Participant,  may be
     exercised, to the extent exercisable at the Participant's  termination,  by
     the Participant (or the legal representative of the Participant's estate if
     the Participant dies after  termination) at any time within a period of six
     (6) months from the date of such  termination,  but in no event  beyond the
     expiration of the stated term of such Stock Option provided, however, that,
     if the Participant dies within such exercise period,  any unexercised Stock
     Option held by such  Participant  shall  thereafter be exercisable,  to the
     extent to which it was  exercisable  at the time of death,  for a period of
     six (6)  months  from the date of such  death,  but in no event  beyond the
     expiration of the stated term of such Stock Option.

(c)  Termination by Reason of Retirement.  If a Participant's  Termination is by
     reason  of  Retirement,  any Stock  Option  held by such  Participant,  may
     thereafter be exercised,  to the extent  exercisable at Retirement,  by the
     Participant  at any time  within a period of three (3) months from the date
     of such  termination,  but in no event beyond the  expiration of the stated
     term of such Stock Option; provided, however, that, if the Participant dies
     within such  exercise  period,  any  unexercised  Stock Option held by such
     Participant shall thereafter be exercisable,  to the extent to which it was
     exercisable  at the time of death,  for a period of six (6) months from the
     date of such death,  but in no event  beyond the  expiration  of the stated
     term of such Stock Option.

(d)  Termination Other than for Cause. If a Participant's Termination is for any
     reason other than for Cause,  death,  Disability or  Retirement,  any Stock
     Option held by such Participant may be exercised, to the extent exercisable
     at  termination,  by the Participant at any time within a period of one (1)
     month  from  the  date of such  termination,  but in no  event  beyond  the
     expiration of the stated term of such Stock Option.

(e)  Termination  for Cause. In the event the  Participant's  Termination is for
     Cause  or  is  a  voluntary  termination  within  ninety  (90)  days  after
     occurrence  of an event  which  would be  grounds  for  Termination  by the
     Company   for  Cause   (without   regard  to  any  notice  or  cure  period
     requirement),  any  Stock  Option  held by the  Participant  at the time of
     occurrence  of the event  which  would be grounds  for  Termination  by the
     Company  for Cause  shall be deemed to have  terminated  and  expired  upon
     occurrence  of the event  which  would be grounds  for  Termination  by the
     Company for Cause.


ARTICLE VII.
                               NON-TRANSFERABILITY

7.1 Non-Transferability.
Except as provided in the last  sentence of this  Article  VII, no Stock  Option
shall be Transferred by the Participant otherwise than by will or by the laws of
descent and  distribution,  all Stock Options shall be  exercisable,  during the
Participant's lifetime,  only by the Participant,  no Stock Option shall, except
as  otherwise  specifically  provided by law or herein,  be  Transferred  in any
manner,  and any attempt to Transfer  any such Stock  Option  shall be void.  No
Award  shall in any manner be liable  for or  subject  to the debts,  contracts,
liabilities,  engagements  or torts of any person who shall be  entitled to such
Award,  nor shall it be subject to  attachment  or legal  process for or against
such person.  Notwithstanding the foregoing,  the Committee may determine at the
time of grant or thereafter that a Non-Qualified  Stock Option that is otherwise
not Transferable  pursuant to this Article VII is  Transferable,  in whole or in
part, to a "family  member" as defined in Securities Act Form S-8 and under such
conditions as specified by the Committee.


ARTICLE VIII.

                          CHANGE IN CONTROL PROVISIONS

8.1 Benefits.
In the event of a Change in Control of the Company (as defined below), except as
otherwise  provided by the Committee  upon the grant of an Award,  a Participant
shall be entitled to the following benefits:

(a)  Subject to paragraph  (b) below with regard to Options  granted to Eligible
     Employees,  Consultants and Non-Employee  Directors,  all outstanding Stock
     Options of such Participant granted prior to the Change in Control shall be
     fully  vested  and  immediately  exercisable  in  their  entirety  upon the
     occurrence of a Change in Control.  The Committee,  in its sole discretion,
     may provide for the purchase of any such Stock Options by the Company or an
     Affiliate  for an  amount  of cash  equal to the  excess  of the  Change in
     Control  price (as defined  below) of the shares of Common Stock covered by
     such  Stock  Options,  over the  aggregate  exercise  price  of such  Stock
     Options.  For purposes of this Section 8.1,  Change in Control  price shall
     mean the higher of (i) the highest  price per share of Common Stock paid in
     any transaction  related to a Change in Control of the Company, or (ii) the
     highest  Fair Market Value per share of Common Stock at any time during the
     sixty (60) day period preceding a Change in Control.

(b)  Notwithstanding  anything  to the  contrary  herein,  unless the  Committee
     provides  otherwise  at  the  time  an  Option  is  granted  hereunder,  no
     acceleration of  exercisability  shall occur with respect to such Option if
     the Committee reasonably  determines in good faith, prior to the occurrence
     of the Change in Control,  that the Options shall be honored or assumed, or
     new rights substituted therefor (each such honored,  assumed or substituted
     option  hereinafter  called an  "Alternative  Option"),  by a Participant's
     employer  (or the  parent or a  subsidiary  of such  employer)  immediately
     following the Change in Control,  provided that any such Alternative Option
     must meet the following criteria:

     (i)  the  Alternative  Option  must be based on stock which is traded on an
          established  securities  market,  or which  will be so  traded  within
          thirty (30) days of the Change in Control;

     (ii) the Alternative  Option must provide such  Participant with rights and
          entitlements  substantially  equivalent  to or better than the rights,
          terms and conditions applicable under such Option,  including, but not
          limited to, an identical or better exercise schedule; and

     (iii)the  Alternative   Option  must  have  economic  value   substantially
          equivalent to the value of such Option  (determined at the time of the
          Change in Control).

For purposes of Incentive Stock Options, any assumed or substituted Option shall
comply  with the  requirements  of  Treasury  regulation  ss.  1.425-1  (and any
amendments thereto).

8.2 Change in Control.
A "Change in Control" shall be deemed to have occurred upon the  consummation of
a sale of all or substantially all of the assets or capital stock of the Company
that has not been approved by the Board (whether by means of a stock sale, asset
sale, merger, consolidation or otherwise).


ARTICLE IX.

                      TERMINATION OR AMENDMENT OF THE PLAN

9.1 Termination or Amendment.
Notwithstanding any other provision of this Plan, the Board may at any time, and
from time to time,  amend,  in whole or in part, any or all of the provisions of
the Plan (including any amendment deemed necessary to ensure compliance with any
regulatory  requirement  referred to in Article  XI), or suspend or terminate it
entirely,  retroactively or otherwise; provided, however, that, unless otherwise
required by law or  specifically  provided  herein,  the rights of a Participant
with  respect  to  Awards  granted  prior  to  such  amendment,   suspension  or
termination,  may not be impaired  without the consent of such  Participant and,
provided  further,  without the approval of the  stockholders  of the Company in
accordance with the laws of the State of Connecticut,  to the extent required by
the  applicable  provisions  of  Section  162(m) of the Code,  or to the  extent
applicable to Incentive Stock Options, Section 422 of the Code, no amendment may
be made that  would (i) amend  Section  4.1(a) or any other  plan  provision  to
increase  the  aggregate  maximum  number of shares of Common  Stock that may be
issued  under  the  Plan;  (ii)  increase  the  maximum  individual  Participant
limitations under Section 4.1(b);  (iii) change the  classification of employees
and service  providers  eligible to receive Awards under this Plan;  (iv) extend
the maximum option period under Section 6.3; or (v) require stockholder approval
in order for the Plan to comply with the applicable provisions of Section 162(m)
of the Code or to the extent applicable to Incentive Stock Options,  Section 422
of the Code.  In no event may the Plan be amended  without  the  approval of the
stockholders  of the Company in accordance with the applicable laws of the State
of Connecticut  to increase the aggregate  number of shares of Common Stock that
may be issued under the Plan or to make any other  amendment  that would require
stockholder  approval  under  the rules of any  exchange  or system on which the
Company's securities are listed or traded at the request of the Company.

The   Committee  may  amend  the  terms  of  any  Award   theretofore   granted,
prospectively or retroactively, but, subject to Article IV above or as otherwise
specifically provided herein, no such amendment or other action by the Committee
shall impair the rights of any holder without the holder's consent.


ARTICLE X.

                                  UNFUNDED PLAN

10.1 Unfunded Status of Plan.
This Plan is  intended  to  constitute  an  "unfunded"  plan for  incentive  and
deferred  compensation.  With respect to any payments as to which a  Participant
has a fixed and vested  interest but which are not yet made to a Participant  by
the Company, nothing contained herein shall give any such Participant any rights
that are greater than those of a general creditor of the Company.


ARTICLE XI.

                               GENERAL PROVISIONS

11.1 Legend.
The  Committee  may require each person  receiving  shares  pursuant to an Award
under the Plan to  represent  to and agree with the Company in writing  that the
Participant is acquiring the shares without a view to distribution  thereof.  In
addition to any legend required by this Plan, the  certificates  for such shares
may include any legend  which the  Committee  deems  appropriate  to reflect any
restrictions on Transfer.

All  certificates  for shares of Common Stock  delivered under the Plan shall be
subject to such stock transfer  orders and other  restrictions  as the Committee
may deem advisable under the rules,  regulations  and other  requirements of the
Securities and Exchange  Commission,  any stock exchange upon which the Stock is
then listed or any national securities  association system upon whose system the
Stock is then quoted,  any applicable  Federal or state  securities law, and any
applicable  corporate law, and the Committee may cause a legend or legends to be
put on any such certificates to make appropriate reference to such restrictions.


11.2 Other Plans.
Nothing  contained in this Plan shall prevent the Board from  adopting  other or
additional  compensation  arrangements,  subject to stockholder approval if such
approval is required;  and such arrangements may be either generally  applicable
or applicable only in specific cases.

11.3 No Right to Employment/Directorship/Consultancy.
Neither  this  Plan  nor  the  grant  of any  Award  hereunder  shall  give  any
Participant  or  other  employee  any  right  with  respect  to  continuance  of
employment,  directorship  or consultancy  by the Company or any Affiliate,  nor
shall  they  be a  limitation  in any way on the  right  of the  Company  or any
Affiliate by which an employee is employed to terminate  his  employment  at any
time.  Neither this Plan nor the grant of any Award  hereunder  shall impose any
obligations on the Company to retain any  Participant as a director nor shall it
impose on the part of any Participant to remain as a director of the Company.

11.4 Withholding of Taxes.
The  Company  shall  have the right to deduct  from any  payment to be made to a
Participant,  or to otherwise require,  prior to the issuance or delivery of any
shares of Common  Stock or the  payment  of any cash  hereunder,  payment by the
Participant  of,  any  Federal,  state  or  local  taxes  required  by law to be
withheld.

The Committee may permit any such statutorily  required  withholding  obligation
with regard to any Eligible Employee,  Consultant or Non-Employee Director to be
satisfied by reducing the number of shares of Common Stock otherwise deliverable
or by delivering  shares of Common Stock already owned.  Any fraction of a share
of Common Stock  required to satisfy such tax  obligations  shall be disregarded
and the amount due shall be paid in cash by the Participant.


11.5 Listing and Other Conditions.

(a)  Unless otherwise  determined by the Committee,  as long as the Common Stock
     is listed on a  national  securities  exchange  or  system  sponsored  by a
     national  securities  association,  the issue of any shares of Common Stock
     pursuant to an Award shall be conditioned  upon such shares being listed on
     such exchange or system. The Company shall have no obligation to issue such
     shares  unless  and  until  such  shares  are so  listed,  and the right to
     exercise any Option with  respect to such shares  shall be suspended  until
     such listing has been  effected.

(b)  If at any time counsel to the Company shall be of the opinion that any sale
     or delivery of shares of Common Stock pursuant to an Award is or may in the
     circumstances  be unlawful or result in the  imposition  of excise taxes on
     the Company  under the statutes,  rules or  regulations  of any  applicable
     jurisdiction,  the Company  shall have no  obligation  to make such sale or
     delivery,  or to make any  application  or to  effect  or to  maintain  any
     qualification or registration under the Securities Act of 1933, as amended,
     or  otherwise  with  respect to shares of Common  Stock or Awards,  and the
     right to exercise any Option shall be  suspended  until,  in the opinion of
     said counsel,  such sale or delivery  shall be lawful or will not result in
     the imposition of excise taxes on the Company.

(c)  Upon  termination of any period of suspension  under this Section 11.5, any
     Award  affected by such  suspension  which  shall not then have  expired or
     terminated  shall be  reinstated  as to all shares  available  before  such
     suspension  and as to shares which would  otherwise  have become  available
     during the period of such  suspension,  but no such suspension shall extend
     the term of any Option.

(d)  A   Participant   shall  be  required  to  supply  the  Company   with  any
     certificates, representations and information that the Company requests and
     otherwise   cooperate   with  the  Company  in   obtaining   any   listing,
     registration,  qualification,  exemption,  consent or approval  the Company
     deems necessary or appropriate.

11.6 Governing Law.
This Plan shall be governed  and  construed in  accordance  with the laws of the
State of Connecticut  (regardless of the law that might  otherwise  govern under
applicable Connecticut principles of conflict of laws).

11.7 Construction.
Wherever any words are used in this Plan in the  masculine  gender they shall be
construed  as though  they were  also used in the  feminine  gender in all cases
where  they  would so apply,  and  wherever  any  words  are used  herein in the
singular  form they  shall be  construed  as  though  they were also used in the
plural form in all cases where they would so apply.

11.8 Other Benefits.
No Award  payment under this Plan shall be deemed  compensation  for purposes of
computing  benefits under any retirement plan of the Company or its subsidiaries
nor affect any  benefits  under any other  benefit plan now or  subsequently  in
effect  under  which the  availability  or amount of  benefits is related to the
level of compensation.

11.9 Costs.
The  Company  shall  bear all  expenses  included  in  administering  this Plan,
including expenses of issuing Common Stock pursuant to any Awards hereunder.

11.10 No Right to Same Benefits.
The provisions of Awards need not be the same with respect to each  Participant,
and such Awards to  individual  Participants  need not be the same in subsequent
years.

11.11 Death/Disability.
The Committee may in its  discretion  require the transferee of a Participant to
supply it with written  notice of the  Participant's  death or Disability and to
supply  it with a copy of the will (in the case of the  Participant's  death) or
such other evidence as the Committee  deems  necessary to establish the validity
of the transfer of an Option.  The Committee may also require that the agreement
of the transferee to be bound by all of the terms and conditions of the Plan.

11.12 Section 16(b) of the Exchange Act.
All elections and  transactions  under the Plan by persons subject to Section 16
of the Exchange Act involving shares of Common Stock are intended to comply with
all exemptive conditions under Rule 16b-3. The Committee may establish and adopt
written  administrative  guidelines,  designed  to  facilitate  compliance  with
Section  16(b) of the Exchange  Act, as it may deem  necessary or proper for the
administration  and  operation  of the  Plan  and the  transaction  of  business
thereunder.

11.13 Successor and Assigns.
The  Plan  shall  be  binding  on all  successors  and  permitted  assigns  of a
Participant,  including,  without limitation, the estate of such Participant and
the executor, administrator or trustee of such estate.

11.14 Severability of Provisions.
If any  provision  of the Plan  shall be held  invalid  or  unenforceable,  such
invalidity or unenforceability shall not affect any other provisions hereof, and
the Plan shall be  construed  and  enforced as if such  provisions  had not been
included.

11.15 Headings and Captions.
The headings and captions  herein are  provided for  reference  and  convenience
only, shall not be considered part of the Plan, and shall not be employed in the
construction of the Plan.


ARTICLE XII.

                             EFFECTIVE DATE OF PLAN

The Plan shall  become  effective  upon  adoption  by the Board,  subject to the
approval of this Plan by the  stockholders of the Company in accordance with the
requirements  of the laws of the  State of  Connecticut  or such  later  date as
provided in the adopting resolution.


ARTICLE XIII.

                                  TERM OF PLAN

No Award shall be granted pursuant to the Plan on or after the tenth anniversary
of the  earlier  of the date this  Plan is  adopted  or the date of  stockholder
approval,  but Awards granted prior to such tenth  anniversary may extend beyond
that date.


ARTICLE XIV.

                                  NAME OF PLAN

This Plan shall be known as the "The Dress Barn, Inc. 2001 Stock Option Plan."