Document:

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                                                                    Exhibit 10.1

                            ILX LIGHTWAVE CORPORATION
                          EMPLOYEE STOCK PURCHASE PLAN

ARTICLE I.  INTRODUCTION

         Section 1.01 Purpose. The purpose of the Plan is to provide employees
of the Company and certain related corporations with an opportunity to share in
the ownership of the Company by providing them with a convenient means for
regular and systematic purchases of Common Stock and, thus, to develop a
stronger incentive to work for the continued success of the Company.

         Section 1.02 Rules of Interpretation. It is intended that the Plan be
an "employee stock purchase plan" as defined in Section 423(b) of the Code and
Treasury Regulations promulgated thereunder. Accordingly, the Plan shall be
interpreted and administered in a manner consistent therewith if so approved.
All Participants in the Plan will have the same rights and privileges consistent
with the provisions of the Plan.

         Section 1.03 Definitions. For purposes of the Plan, the following terms
will have the meanings set forth below:

         (a) "Acceleration Date" means the closing date of (i) any consolidation
or merger of the Company in which the Company is not the continuing or surviving
corporation or pursuant to which shares of Company common stock would be
converted into cash, securities or other property, other than a merger of the
Company in which shareholders of the Company immediately prior to the merger
have substantially the same proportionate ownership of stock in the surviving
corporation immediately after the merger; (ii) any sale, exchange or other
transfer (in one transaction or a series of related transactions) of all or
substantially all of the assets of the Company; or (iii) any plan of liquidation
or dissolution of the Company.

         (b) "Affiliate" means any subsidiary corporation of the Company, as
defined in Section 424(f) of the Code, whether now or hereafter acquired or
established.

         (c) "Code" means the Internal Revenue Code of 1986, as amended.

         (d) "Committee" means the committee described in Section 10.01 of the
Plan.

         (e) "Common Stock" means the Company's Common Stock, $.01 par value per
share, as such stock may be adjusted for changes in the stock or the Company as
contemplated by Article XI of the Plan.

         (f) "Company" means ILX Lightwave Corporation, a Minnesota corporation,
and its successors by merger or consolidation as contemplated by Section 11.02
of the Plan.

         (g) "Current Compensation" means all regular wage (including overtime),
salary and commission payments paid by the Company to a Participant in
accordance with the terms of his or

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her employment, but excluding annual bonus payments, quarterly incentive
payments and all other forms of special compensation.

         (h) "Fair Market Value" as of a given date means the fair market value
of the Common Stock determined by such methods or procedures as shall be
established from time to time by the Committee, but shall not be less than, if
the Common Stock is then quoted on the NASDAQ National Market System, the
average of the high and low sales price as reported on the NASDAQ National
Market System on such date or, if the NASDAQ National Market System is not open
for trading on such date, on the most recent preceding date when it is open for
trading. If on a given date the Common Stock is not traded on an established
securities market, the Committee shall make a good faith attempt to satisfy the
requirements of this Section 1.03(h) and in connection therewith shall take such
action as it deems necessary or advisable.

         (i) "Participant" means a Regular Employee who is eligible to
participate in the Plan under Section 2.01 of the Plan and who has elected to
participate in the Plan.

         (j) "Participating Affiliate" means an Affiliate that has been
designated by the Committee in advance of the Purchase Period in question as a
corporation whose eligible Regular Employees may participate in the Plan.

         (k) "Plan" means the ILX Lightwave Corporation Employee Stock Purchase
Plan, as it may be amended, the provisions of which are set forth herein.

         (l) "Purchase Period" means the period beginning on September 1, 2000,
and ending on the last business day in August, 2001 and thereafter each
approximate six-month period beginning on September 1st and March 1st of each
year and ending on the last business day in February and August of each year;
provided, however, that the then current Purchase Period will end upon the
occurrence of an Acceleration Date.

         (m) "Regular Employee" means an employee of the Company or a
Participating Affiliate as of the first day of a Purchase Period, including an
officer or director who is also an employee.

         (n) "Stock Purchase Account" means the account maintained on the books
and records of the Company recording the amount received from each Participant
through payroll deductions made under the Plan.

ARTICLE II.  ELIGIBILITY AND PARTICIPATION

         Section 2.01 Eligible Employees. All Regular Employees shall be
eligible to participate in the Plan beginning on the first day of the first
Purchase Period to commence after such person becomes a Regular Employee.
Subject to the provisions of Article VI of the Plan, each such employee will
continue to be eligible to participate in the Plan so long as he or she remains
a Regular Employee.

         Section 2.02 Election to Participate. An eligible Regular Employee may
elect to participate in the Plan for a given Purchase Period by filing with the
Company, in advance of that Purchase Period and in accordance with such terms
and conditions as the Committee in its sole discretion may

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impose, a form provided by the Company for such purpose (which authorizes
regular payroll deductions from Current Compensation beginning with the first
payday in that Purchase Period and continuing until the employee withdraws from
the Plan or ceases to be eligible to participate in the Plan).

         Section 2.03 Limits on Stock Purchase. No employee shall be granted any
right to purchase Common Stock hereunder if such employee, immediately after
such a right to purchase is granted, would own, directly or indirectly, within
the meaning of Section 423(b)(3) and Section 424(d) of the Code, Common Stock
possessing 5% or more of the total combined voting power or value of all the
classes of the capital stock of the Company or of all Affiliates.

         Section 2.04 Voluntary Participation. Participation in the Plan on the
part of a Participant is voluntary and such participation is not a condition of
employment nor does participation in the Plan entitle a Participant to be
retained as an employee.

ARTICLE III.  PAYROLL DEDUCTIONS AND STOCK PURCHASE ACCOUNT

         Section 3.01 Deduction from Pay. The form described in Section 2.02 of
the Plan will permit a Participant to elect payroll deductions of not less than
1% nor more than 10% of such Participant's Current Compensation for each pay
period during such Purchase Period, but in no event more than $2,500 per
Purchase Period, and subject to such other limitations as the Committee in its
sole discretion may impose. A Participant may cease making payroll deductions at
any time, subject to such limitations as the Committee in its sole discretion
may impose. In the event that during a Purchase Period the entire credit balance
in a Participant's Stock Purchase Account exceeds the product of (a) 85% of the
Fair Market Value of the Common Stock on the first business day of that Purchase
Period and (b) 300, then payroll deductions for such Participant shall
automatically cease, and shall resume on the first pay period of the next
Purchase Period.

         Section 3.02 Credit to Account. Payroll deductions will be credited to
the Participant's Stock Purchase Account on each payday.

         Section 3.03 Interest. No interest will be paid on payroll deductions
or on any other amount credited to, or on deposit in, a Participant's Stock
Purchase Account; provided that if the Plan is discontinued as provided in
Section 9.03 the Company will return all payroll deductions then credited to the
Participant's Stock Purchase Account plus simple interest at the rate of 3.5%
per year.

         Section 3.04 Nature of Account. The Stock Purchase Account is
established solely for accounting purposes, and all amounts credited to the
Stock Purchase Account will remain part of the general assets of the Company or
the Participating Affiliate (as the case may be).

         Section 3.05 No Additional Contributions. A Participant may not make
any payment into the Stock Purchase Account other than the payroll deductions
made pursuant to the Plan.

ARTICLE IV.   RIGHT TO PURCHASE SHARES

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         Section 4.01 Number of Shares. Each Participant will have the right to
purchase on the last business day of the Purchase Period all, but not less than
all, of the number of whole and fractional shares, computed to four decimal
places, of Common Stock that can be purchased at the price specified in Section
4.02 of the Plan with the entire credit balance in the Participant's Stock
Purchase Account, subject to the limitations that (a) no more than 300 shares of
Common Stock may be purchased under the Plan by any one Participant for a given
Purchase Period, and (b) in accordance with Section 423(b)(8) of the Code, no
more than $25,000 in Fair Market Value (determined at the beginning of each
Purchase Period) of Common Stock and other stock may be purchased under the Plan
and all other employee stock purchase plans (if any) of the Company and the
Affiliates by any one Participant for any calendar year. If the purchases for
all Participants for any Purchase Period would otherwise cause the aggregate
number of shares of Common Stock to be sold under the Plan to exceed the number
specified in Section 10.04 of the Plan, each Participant shall be allocated a
pro rata portion of the Common Stock to be sold for such Purchase Period.

         Section 4.02 Purchase Price. The purchase price for any Purchase Period
shall be that price as announced by the Committee prior to the first business
day of that Purchase Period, which price may, in the discretion of the
Committee, be a price which is not fixed or determinable as of the first
business day of that Purchase Period; provided, however, that in no event shall
the purchase price for any Purchase Period be less than the lesser of (a) 85% of
the Fair Market Value of the Common Stock on the first business day of that
Purchase Period or (b) 85% of the Fair Market Value of the Common Stock on the
last business day of that Purchase Period, in each case rounded up to the next
higher full cent.

ARTICLE V.  EXERCISE OF RIGHT

         Section 5.01 Purchase of Stock. On the last business day of a Purchase
Period, the entire credit balance in each Participant's Stock Purchase Account
will be used to purchase the number of whole shares and fractional shares,
computed to four decimal places, of Common Stock purchasable with such amount
(subject to the limitations of Section 4.01 of the Plan), unless the Participant
has filed with the Company, in advance of that date and subject to such terms
and conditions as the Committee in its sole discretion may impose, a form
provided by the Company which requests the distribution of the entire credit
balance in cash.

         Section 5.02 Notice of Acceleration Date. The Company shall use its
best efforts to notify each Participant in writing at least ten days prior to
any Acceleration Date that the then current Purchase Period will end on such
Acceleration Date.

ARTICLE VI. WITHDRAWAL FROM PLAN; SALE OF STOCK

         Section 6.01 Voluntary Withdrawal. A Participant may, in accordance
with such terms and conditions as the Committee in its sole discretion may
impose, withdraw from the Plan and cease making payroll deductions by filing
with the Company a form provided for this purpose. In such event, the entire
credit balance in the Participant's Stock Purchase Account will be paid to the
Participant in cash within 30 days. A Participant who withdraws from the Plan
will not be eligible to reenter the Plan until the beginning of the next
Purchase Period following the date of such withdrawal.

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         Section 6.02 Death. Subject to such terms and conditions as the
Committee in its sole discretion may impose, upon the death of a Participant, no
further amounts shall be credited to the Participant's Stock Purchase Account.
Thereafter, on the last business day of the Purchase Period during which such
Participant's death occurred and in accordance with Section 5.01 of the Plan,
the entire credit balance in such Participant's Stock Purchase Account will be
used to purchase Common Stock, unless such Participant's estate has filed with
the Company, in advance of that day and subject to such terms and conditions as
the Committee in its sole discretion may impose, a form provided by the Company
which elects to have the entire credit balance in such Participant's Stock
Account distributed in cash within 30 days after the end of that Purchase Period
or at such earlier time as the Committee in its sole discretion may decide. Each
Participant, however, may designate one or more beneficiaries who, upon death,
are to receive the Common Stock or the amount that otherwise would have been
distributed or paid to the Participant's estate and may change or revoke any
such designation from time to time. No such designation, change or revocation
will be effective unless made by the Participant in writing and filed with the
Company during the Participant's lifetime. Unless the Participant has otherwise
specified the beneficiary designation, the beneficiary or beneficiaries so
designated will become fixed as of the date of the death of the Participant so
that, if a beneficiary survives the Participant but dies before the receipt of
the payment due such beneficiary, the payment will be made to such beneficiary's
estate.

         Section 6.03 Termination of Employment. Subject to such terms and
conditions as the Committee in its sole discretion may impose, upon a
Participant's normal or early retirement with the consent of the Company under
any pension or retirement plan of the Company or Participating Affiliate, no
further amounts shall be credited to the Participant's Stock Purchase Account.
Thereafter, on the last business day of the Purchase Period during which such
Participant's approved retirement occurred and in accordance with Section 5.01
of the Plan, the entire credit balance in such Participant's Stock Purchase
Account will be used to purchase Common Stock, unless such Participant has filed
with the Company, in advance of that day and subject to such terms and
conditions as the Committee in its sole discretion may impose, a form provided
by the Company which elects to receive the entire credit balance in such
Participant's Stock Purchase Account in cash within 30 days after the end of
that Purchase Period, provided that such Participant shall have no right to
purchase Common Stock in the event that the last day of such a Purchase Period
occurs more than three months following the termination of such Participant's
employment with the Company by reason of such an approved retirement. In the
event of any other termination of employment (other than death) with the Company
or a Participating Affiliate, participation in the Plan will cease on the date
the Participant ceases to be a Regular Employee for any reason. In such event,
the entire credit balance in such Participant's Stock Purchase Account will be
paid to the Participant in cash within 30 days. For purposes of this Section
6.03, a transfer of employment to any Affiliate, or a leave of absence that has
been approved by the Committee, will not be deemed a termination of employment
as a Regular Employee.

ARTICLE VII.  NONTRANSFERABILITY

         Section 7.01 Nontransferable Right to Purchase. The right to purchase
Common Stock hereunder may not be assigned, transferred, pledged or hypothecated
(whether by operation of law or otherwise), except as provided in Section 6.02
of the Plan, and will not be subject to execution,

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attachment or similar process. Any attempted assignment, transfer, pledge,
hypothecation or other disposition or levy of attachment or similar process upon
the right to purchase will be null and void and without effect.

         Section 7.02 Nontransferable Account. Except as provided in Section
6.02 of the Plan, the amounts credited to a Stock Purchase Account may not be
assigned, transferred, pledged or hypothecated in any way, and any attempted
assignment, transfer, pledge, hypothecation or other disposition of such amounts
will be null and void and without effect.

         Section 7.03 Nontransferable Shares. Except as the Committee shall
otherwise permit, prior to the second anniversary of the beginning of any
Purchase Period, the Common Stock purchased at the end of such Purchase Period
by a Participant pursuant to Section 5.01 of the Plan together with any
additional Common Stock acquired pursuant to Section 8.04 of the Plan upon the
reinvestment of dividends may not be assigned, transferred, pledged,
hypothecated or otherwise disposed of in any way other than by will or by the
laws of descent and distribution, and any other attempted assignment, transfer,
pledge, hypothecation or other disposition of such share or shares will be null
and void and without effect.

ARTICLE VIII.  COMMON STOCK ISSUANCE AND DIVIDEND REINVESTMENT

         Section 8.01 Issuance of Purchased Shares. Promptly after the last day
of each Purchase Period and subject to such terms and conditions as the
Committee in its sole discretion may impose, the Company will cause the Common
Stock then purchased pursuant to Section 5.01 of the Plan to be issued for the
benefit of the Participant and held in the Plan pursuant to Section 8.03 of the
Plan.

         Section 8.02 Completion of Issuance. A Participant shall have no
interest in the Common Stock purchased pursuant to Section 5.01 of the Plan
until such Common Stock is issued for the benefit of the Participant pursuant to
Section 8.03 of the Plan.

         Section 8.03 Form of Ownership. The Common Stock issued under Section
8.01 of the Plan will be held in the Plan in the name of the Participant or
jointly in the name of the Participant and another person, as the Participant
may direct on a form provided by the Company, until such time as certificates
for such shares of Common Stock are delivered to or for the benefit of the
Participant pursuant to Section 8.05 of the Plan.

         Section 8.04 Automatic Dividend Reinvestment. Prior to the delivery of
certificates to or for the benefit of the Participant under Section 8.05 of the
Plan, any and all cash dividends paid on full and fractional shares of Common
Stock issued under either Section 8.01 of the Plan or this Section 8.04 shall be
reinvested to acquire either new issue Common Stock or shares of Common Stock
purchased on the open market, as determined by the Committee in its sole
discretion. Purchases of Common Stock under this Section 8.04 will be (a) with
respect to shares newly issued by the Company, invested on the dividend payment
date, or, if that date is not a trading day, the immediately preceding trading
day, or (b) with respect to shares purchased on the open market, normally
purchased on the open market within ten business days of the dividend payment
date, depending upon market conditions. The price per share of the Common Stock
issued under this Section 8.04 shall be (x) with respect to shares newly issued
by the Company, the Fair Market Value of the

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Common Stock on the applicable investment date, or (y) with respect to shares
purchased on the open market, the weighted average price per share at which the
Common Stock is actually purchased on the open market for the relevant period on
behalf of all participants in the Plan. All shares of Common Stock acquired
under this Section 8.04 will be held in the Plan in the same name as the Common
Stock upon which the cash dividends were paid.

         Section 8.05 Delivery. At any time following the conclusion of the
nontransferability period set forth in Section 7.03 of the Plan and subject to
such terms and conditions as the Committee in its sole discretion may impose, by
filing with the Company a form provided by the Company for such purpose, the
Participant may elect to have the Company cause to be delivered to or for the
benefit of the Participant a certificate for the number of whole shares and cash
for the number of fractional shares representing the Common Stock purchased
pursuant to Section 5.01 of the Plan together with any additional Common Stock
acquired pursuant to Section 8.04 of the Plan upon the reinvestment of
dividends. The election notice will be processed as soon as practicable after
receipt. A certificate for whole shares normally will be mailed to the
Participant within sixty business days after receipt of the election notice;
provided, however, that if the notice is received between a dividend record date
and a dividend payment date, a certificate will generally not be sent out until
the declared dividends have been reinvested pursuant to Section 8.04 of the
Plan. Any fractional shares normally will be sold on the first trading day of
each month and a check for the fractional shares sent to the Participant
promptly thereafter.

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ARTICLE IX.  EFFECTIVE DATE, AMENDMENT AND TERMINATION OF PLAN

         Section 9.01  Effective Date. The Plan was approved by the Board of
Directors on May 5, 2000, and shall be approved by the shareholders of the
Company within twelve (12) months thereof.

         Section 9.02  Plan Commencement. The initial Purchase Period under the
Plan will commence September 1, 2000. Thereafter, each succeeding Purchase
Period will commence and terminate in accordance with Section 1.03(l) of the
Plan.

         Section 9.03  Powers of Board. The Board of Directors may amend or
discontinue the Plan at any time, including immediately before the end of any
Purchase Period and before any rights to purchase Common Stock for that Purchase
Period accrue. No amendment or discontinuation of the Plan, however, shall be
made without shareholder approval if shareholder approval is required under any
rules or regulations of the NASDAQ National Market System or any securities
exchange that are applicable to the Company.

ARTICLE X.   ADMINISTRATION

         Section 10.01 The Committee. The Plan shall be administered by a
committee (the "Committee") established by the Board of Directors. The members
of the Committee need not be directors of the Company and shall be appointed by
and serve at the pleasure of the Board of Directors.

         Section 10.02 Powers of Committee. Subject to the provisions of the
Plan, the Committee shall have full authority to administer the Plan, including
authority to interpret and construe any provision of the Plan, to establish
deadlines by which the various administrative forms must be received in order to
be effective, and to adopt such other rules and regulations for administering
the Plan as it may deem appropriate. The Committee shall have full and complete
authority to determine whether all or any part of the Common Stock acquired
pursuant to the Plan shall be subject to restrictions on the transferability
thereof or any other restrictions affecting in any manner a Participant's rights
with respect thereto but any such restrictions shall be contained in the form by
which a Participant elects to participate in the Plan pursuant to Section 2.02
of the Plan. Decisions of the Committee will be final and binding on all parties
who have an interest in the Plan.

         Section 10.03 Power and Authority of the Board of Directors. The Board
of Directors may, at any time and from time to time, notwithstanding anything to
the contrary contained herein, and without any further action of the Committee,
exercises the powers and duties of the Committee under the Plan.

         Section 10.04 Stock to be Sold. The Common Stock to be issued and sold
under the Plan may be authorized but unissued shares or shares acquired in the
open market or otherwise. Except as provided in Section 11.01 of the Plan, the
aggregate number of shares of Common Stock to be sold under the Plan will not
exceed 150,000 shares.

         Section 10.05 Notices. Notices to the Committee should be addressed as
follows:

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         ILX Lightwave Corporation
         31950 East Frontage Road
         Bozeman MT 59715
         Attn: ESPP

ARTICLE XI.  ADJUSTMENT FOR CHANGES IN STOCK OR COMPANY

         Section 11.01 Stock Dividend or Reclassification. If the outstanding
shares of Common Stock are increased, decreased, changed into or exchanged for a
different number or kind of securities of the Company, or shares of a different
par value or without par value, through reorganization, recapitalization,
reclassification, stock dividend, stock split, amendment to the Company's
Certificate of Incorporation, reverse stock split or otherwise, an appropriate
adjustment shall be made in the maximum numbers and kind of securities to be
purchased under the Plan with a corresponding adjustment in the purchase price
to be paid therefor.

         Section 11.02 Merger or Consolidation. If the Company is merged into or
consolidated with one or more corporations during the term of the Plan,
appropriate adjustments will be made to give effect thereto on an equitable
basis in terms of issuance of shares of the corporation surviving the merger or
of the consolidated corporation, as the case may be.

ARTICLE XII. APPLICABLE LAW

         Rights to purchase Common Stock granted under the Plan shall be
construed and shall take effect in accordance with the laws of the State of
Montana.

                            ILX LIGHTWAVE CORPORATION
                             31950 E. Frontage Road
                             Bozeman, Montana 59715
                                 (406) 586-1244<PAGE>   1

                                                                    EXHIBIT 10.4

                            ILX LIGHTWAVE CORPORATION
                            2000 STOCK INCENTIVE PLAN

         1.       Purpose. The purpose of the ILX Lightwave Corporation 2000
Stock Incentive Plan (the "Plan") is to promote the interests of ILX Lightwave
Corporation (the "Company") and its shareholders by aiding the Company in
attracting, retaining and providing incentives to employees, officers, directors
who are not also employees ("Non-Employee Directors"), consultants and
independent contractors.

         2.       Definitions. As used in the Plan, the following terms shall
have the meanings set forth below:

                  "Affiliate" shall mean (i) any entity that, directly or
         indirectly through one or more intermediaries, is controlled by the
         Company, and (ii) any entity in which the Company has a significant
         equity interest, as determined by the Committee.

                  "Award" shall mean any Option, Stock Appreciation Right,
         Restricted Stock, Restricted Stock Unit, Performance Award or other
         Stock-Based Award granted under the Plan.

                  "Award Agreement" shall mean any written agreement, contract
         or other instrument or document evidencing any Award granted under the
         Plan.

                  "Code" shall mean the Internal Revenue Code of 1986, as
         amended from time to time, and any regulations promulgated thereunder.

                  "Committee" shall mean either the Board of Directors of the
         Company (the "Board") or a committee of the Board appointed by the
         Board to administer the Plan and composed of not less than two
         directors, each of whom is a "Non-Employee Director" within the meaning
         of Rule 16b-3 (which term "Non-Employee Director" is defined in this
         paragraph for purposes of the definition of "Committee" only and is not
         intended to define such term as used elsewhere in the Plan) and each of
         whom is an "outside director" within the meaning of Section 162(m) of
         the Code.

                  "Eligible Person" shall mean any employee, officer, director
         (including any Non-Employee Director), consultant or independent
         contractor providing services or other benefits to the Company or any
         Affiliate who the Committee determines to be an Eligible Person.

                  "Fair Market Value" shall mean, with respect to any property
         (including, without limitation, any Shares or other securities), the
         fair market value of such property determined by such methods or
         procedures as shall be established from time to time by the Committee.
         Notwithstanding the foregoing, unless otherwise determined by the

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         Committee, the Fair Market Value of Shares on a given date for purposes
         of the Plan shall not be less than: (i) the closing price as reported
         for composite transactions, if the Shares are then listed on a national
         securities exchange; (ii) the last sale price, if the Shares are then
         quoted on the Nasdaq National Market; or (iii) in all other cases, the
         average of the closing representative bid and asked prices of the
         Shares, all on the date as of which Fair Market Value is being
         determined. If on a given date the Shares are not traded in an
         established securities market, the Committee shall make a good faith
         attempt to satisfy the requirements of this clause and in connection
         therewith shall take such action as it deems necessary or advisable.

                  "Incentive Stock Option" shall mean an option granted under
         Section 6(a) of the Plan that is intended to meet the requirements of
         Section 422 of the Code or any successor provision.

                  "Non-Qualified Stock Option" shall mean an option granted
         under Section 6(a) of the Plan that is not intended to be an Incentive
         Stock Option.

                  "Option" shall mean an Incentive Stock Option or a
         Non-Qualified Stock Option, and shall include Reload Options.

                  "Other Stock-Based Award" shall mean any right granted under
         Section 6(e) of the Plan.

                  "Participant" shall mean an Eligible Person designated to be
         granted an Award under the Plan.

                  "Performance Award" shall mean any right granted under Section
         6(d) of the Plan.

                  "Person" shall mean any individual, corporation, partnership,
         association or trust.

                  "Reload Option" shall mean any Option granted under Section
         6(a)(iv) of the Plan.

                  "Restricted Stock" shall mean any Share granted under Section
         6(c) of the Plan.

                  "Restricted Stock Unit" shall mean any unit granted under
         Section 6(c) of the Plan evidencing the right to receive a Share (or a
         cash payment equal to the Fair Market Value of a Share) at some future
         date.

                  "Rule 16b-3" shall mean Rule 16b-3 promulgated by the
         Securities and Exchange Commission under the Securities Exchange Act of
         1934, as amended.

                  "Shares" shall mean shares of Common Stock, $.01 par value, of
         the Company, or such other securities or property as may become subject
         to Awards pursuant to an adjustment made under Section 4(c) of the
         Plan.

                                       2
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                  "Stock Appreciation Right" shall mean any right granted under
         Section 6(b) of the Plan.

         3.       Administration.

                  (a) Power and Authority of the Committee. The Plan shall be
         administered by the Committee. Subject to the terms of the Plan and
         applicable law, the Committee shall have full power and authority to:
         (i) designate Participants; (ii) determine the type or types of Awards
         to be granted to each Participant under the Plan; (iii) determine the
         number of Shares to be covered by (or with respect to which payments,
         rights or other matters are to be calculated in connection with) each
         Award; (iv) determine the terms and conditions of any Award or Award
         Agreement; (v) amend the terms and conditions of any Award or Award
         Agreement and accelerate the exercisability of any Award or the lapse
         of restrictions relating to any Award; (vi) determine whether, to what
         extent and under what circumstances Awards may be exercised in cash,
         Shares, other securities, other Awards or other property, or canceled,
         forfeited or suspended; (vii) determine whether, to what extent and
         under what circumstances cash, Shares, other securities, other Awards,
         other property and other amounts payable with respect to an Award under
         the Plan shall be deferred either automatically or at the election of
         the holder thereof or the Committee; (viii) interpret and administer
         the Plan and any Award made under or instrument or agreement, including
         an Award Agreement, relating to the Plan; (ix) establish, amend,
         suspend or waive such rules and regulations and appoint such agents as
         it shall deem appropriate for the proper administration of the Plan;
         and (x) make any other determination and take any other action that the
         Committee deems necessary or desirable for the administration of the
         Plan. Unless otherwise expressly provided in the Plan, all
         designations, determinations, interpretations and other decisions under
         or with respect to the Plan or any Award shall be within the sole
         discretion of the Committee, may be made at any time and shall be
         final, conclusive and binding upon any Participant, any holder or
         beneficiary of any Award and any employee of the Company or any
         Affiliate.

                  (b) Delegation. The Committee may delegate to one or more
         officers of the Company or any Affiliate or a committee of such
         officers the authority, subject to such terms and limitations as the
         Committee shall determine, to grant Awards to Eligible Persons who are
         not officers or directors of the Company for purposes of Section 16 of
         the Securities Exchange Act of 1934, as amended.

         4.       Shares Available for Awards.

                  (a) Shares Available. Subject to adjustment as provided in
         Section 4(c), the total number of Shares available for granting Awards
         under the Plan shall be [________]. Shares to be issued under the Plan
         may be either authorized but unissued Shares or Shares acquired in the
         open market or otherwise. Any Shares that are used by a Participant as
         full or partial payment to the Company of the purchase price relating
         to an Award, or in connection with the satisfaction of tax obligations
         relating to an Award, shall again be

                                       3
<PAGE>   4

         available for granting Awards (other than Incentive Stock Options)
         under the Plan. If any Shares covered by an Award or to which an Award
         relates are not purchased or are forfeited, or if an Award otherwise
         terminates without delivery of any Shares, then the number of Shares
         counted against the aggregate number of Shares available under the Plan
         with respect to such Award, to the extent of any such forfeiture or
         termination, shall again be available for granting Awards under the
         Plan.

                  (b) Accounting for Awards. For purposes of this Section 4, if
         an Award entitles the holder thereof to receive or purchase Shares, the
         number of Shares covered by such Award or to which such Award relates
         shall be counted on the date of grant of such Award against the
         aggregate number of Shares available for granting Awards under the
         Plan. Such Shares may again become available for granting Awards under
         the Plan pursuant to the provisions of Section 4(a) of the Plan,
         subject to the adjustments set forth in Section 4(c) of the Plan.

                  (c) Adjustments. In the event that the Committee shall
         determine that any dividend or other distribution (whether in the form
         of cash, Shares, other securities or other property), recapitalization,
         stock split, reverse stock split, reorganization, merger,
         consolidation, split-up, spin-off, combination, repurchase or exchange
         of Shares or other securities of the Company, issuance of warrants or
         other rights to purchase Shares or other securities of the Company, or
         other similar corporate transaction or event affects the Shares such
         that an adjustment is determined by the Committee to be appropriate in
         order to prevent dilution or enlargement of the benefits or potential
         benefits intended to be made available under the Plan, then the
         Committee shall, in such manner as it may deem equitable, adjust any or
         all of (i) the number and type of Shares (or other securities or other
         property) that thereafter may be made the subject of Awards, (ii) the
         number and type of Shares (or other securities or other property)
         subject to outstanding Awards, and (iii) the purchase or exercise price
         with respect to any Award; provided, however, that the number of Shares
         covered by any Award or to which such Award relates shall always be a
         whole number.

                  (d) Award Limitations Under the Plan. No Eligible Person may
         be granted any Award or Awards, the value of which is based solely on
         an increase in the value of the Shares after the date of grant of such
         Awards, for more than 500,000 Shares, subject to adjustment as provided
         in the Plan, in the aggregate in any calendar year. The foregoing
         annual limitation specifically includes the grant of any
         "performance-based" Awards within the meaning of Section 162(m) of the
         Code.

         5.       Eligibility. Any Eligible Person of the Company or any
Affiliate shall be eligible to be designated a Participant. In determining which
Eligible Persons shall receive an Award and the terms of any Award, the
Committee may take into account the nature of the services rendered by the
respective Eligible Persons, their present and potential contributions to the
success of the Company or such other factors as the Committee, in its
discretion, shall deem relevant. Notwithstanding the foregoing, an Incentive
Stock Option may be granted only to full-time or part-time employees (which term
as used herein includes, without limitation, officers and directors who are also
employees), and an Incentive Stock Option shall not be granted to an

                                       4
<PAGE>   5

employee of an Affiliate unless such Affiliate is also a "subsidiary
corporation" of the Company within the meaning of Section 424(f) of the Code or
any successor provision.

         6.       Awards.

                  (a)      Options. The Committee is hereby authorized to grant
         Options to Participants with the following terms and conditions and
         with such additional terms and conditions not inconsistent with the
         provisions of the Plan as the Committee shall determine:

                           (i)   Exercise Price. The purchase price per Share
                  purchasable under an Option shall be determined by the
                  Committee; provided, however, that the purchase price for
                  Shares underlying Incentive Stock Options shall not be less
                  than 100% of the Fair Market Value of a Share on the date of
                  grant of such Incentive Stock Option.

                           (ii)  Option Term. The term of each Option shall be
                  fixed by the Committee.

                           (iii) Time and Method of Exercise. The Committee
                  shall determine the time or times at which an Option may be
                  exercised in whole or in part and the method or methods by
                  which, and the form or forms (including, without limitation,
                  cash, Shares, other securities, other Awards or other
                  property, or any combination thereof, having a Fair Market
                  Value on the exercise date equal to the relevant exercise
                  price) in which, payment of the exercise price with respect
                  thereto may be made or deemed to have been made.

                           (iv)  Reload Options. The Committee may grant Reload
                  Options, separately or together with another Option, pursuant
                  to which, subject to the terms and conditions established by
                  the Committee and any applicable requirements of Rule 16b-3 or
                  any other applicable law, the Participant would be granted a
                  new Option when the payment of the exercise price of a
                  previously granted Option is made by the delivery of Shares
                  owned by the Participant pursuant to Section 6(a)(iii) hereof
                  or the relevant provisions of another plan of the Company,
                  and/or when Shares are tendered or forfeited as payment of the
                  amount to be withheld under applicable tax laws in connection
                  with the exercise of an Option, which new Option would be an
                  option to purchase the number of Shares not exceeding the sum
                  of (A) the number of Shares so provided as consideration upon
                  the exercise of the previously granted Option to which such
                  Reload Option relates and (B) the number of Shares so tendered
                  or forfeited, if any, as payment of the amount to be withheld
                  under applicable tax laws in connection with the exercise of
                  the Option to which such Reload Option relates. Reload Options
                  may be granted with respect to Options previously granted
                  under this Plan or any other stock option plan of the Company
                  or any of its Affiliates (which shall explicitly include plans
                  assumed by the Company in connection with mergers and the
                  like), or may be granted in connection with any Option granted
                  under this Plan or any other stock

                                       5
<PAGE>   6

                  option plan of the Company or any of its Affiliates at the
                  time of such grant. Reload Options shall have a per share
                  exercise price equal to the Fair Market Value as of the date
                  of grant of the new Option. Any Reload Option shall be subject
                  to availability of sufficient Shares for grant under the Plan.

                  (b)      Stock Appreciation Rights. The Committee is hereby
         authorized to grant Stock Appreciation Rights to Participants subject
         to the terms of the Plan and any applicable Award Agreement. A Stock
         Appreciation Right granted under the Plan shall confer on the holder
         thereof a right to receive upon exercise thereof the excess of (i) the
         Fair Market Value of one Share on the date of exercise (or, if the
         Committee shall so determine, at any time during a specified period
         before or after the date of exercise) over (ii) the grant price of the
         Stock Appreciation Right as specified by the Committee, which price
         shall not be less than 100% of the Fair Market Value of one Share on
         the date of grant of the Stock Appreciation Right. Subject to the terms
         of the Plan and any applicable Award Agreement, the grant price, term,
         methods of exercise, dates of exercise, methods of settlement and any
         other terms and conditions of any Stock Appreciation Right shall be as
         determined by the Committee. The Committee may impose such conditions
         or restrictions on the exercise of any Stock Appreciation Right as it
         may deem appropriate.

                  (c)      Restricted Stock and Restricted Stock Units. The
         Committee is hereby authorized to grant Restricted Stock and Restricted
         Stock Units to Participants with the following terms and conditions and
         with such additional terms and conditions not inconsistent with the
         provisions of the Plan as the Committee shall determine:

                           (i)   Restrictions. Shares of Restricted Stock and
                  Restricted Stock Units shall be subject to such restrictions
                  as the Committee may impose (including, without limitation,
                  any limitation on the right to vote a Share of Restricted
                  Stock or the right to receive any dividend or other right or
                  property with respect thereto), which restrictions may lapse
                  separately or in combination at such time or times, in such
                  installments or otherwise as the Committee may deem
                  appropriate.

                           (ii)  Stock Certificates; Delivery of Shares. Any
                  Restricted Stock granted under the Plan shall be evidenced by
                  issuance of a stock certificate or certificates, which
                  certificate or certificates shall be held by the Company. Such
                  certificate or certificates shall be registered in the name of
                  the Participant and shall bear an appropriate legend referring
                  to the restrictions applicable to such Restricted Stock.
                  Promptly upon the lapse or waiver of applicable restrictions,
                  Shares representing Restricted Stock that is no longer subject
                  to restrictions shall be delivered to the holder thereof. In
                  the case of Restricted Stock Units, no Shares shall be issued
                  at the time such Awards are granted. Upon the lapse or waiver
                  of restrictions and the restricted period relating to
                  Restricted Stock Units evidencing the right to receive Shares,
                  such Shares shall be issued and delivered to the holders of
                  the Restricted Stock Units.

                                       6
<PAGE>   7

                           (iii) Forfeiture. Except as otherwise determined by
                  the Committee, upon a Participant's termination of employment
                  (as determined under criteria established by the Committee)
                  during the applicable restriction period, all Shares of
                  Restricted Stock and all Restricted Stock Units held by the
                  Participant at such time shall be forfeited and reacquired by
                  the Company; provided, however, that the Committee may, when
                  it finds that a waiver would be in the best interest of the
                  Company, waive in whole or in part any or all remaining
                  restrictions with respect to Shares of Restricted Stock or
                  Restricted Stock Units.

                  (d)      Performance Awards. The Committee is hereby
         authorized to grant Performance Awards to Participants subject to the
         terms of the Plan and any applicable Award Agreement. A Performance
         Award granted under the Plan (i) may be denominated or payable in cash,
         Shares (including, without limitation, Restricted Stock and Restricted
         Stock Units), other securities, other Awards or other property and (ii)
         shall confer on the holder thereof the right to receive payments, in
         whole or in part, upon the achievement of such performance goals during
         such performance periods as the Committee shall establish. Subject to
         the terms of the Plan and any applicable Award Agreement, the
         performance goals to be achieved during any performance period, the
         length of any performance period, the amount of any Performance Award
         granted, the amount of any payment or transfer to be made pursuant to
         any Performance Award and any other terms and conditions of any
         Performance Award shall be determined by the Committee.

                  (e)      Other Stock-Based Awards. The Committee is hereby
         authorized to grant to Participants such other Awards that are
         denominated or payable in, valued in whole or in part by reference to,
         or otherwise based on or related to, Shares (including, without
         limitation, securities convertible into Shares), as are deemed by the
         Committee to be consistent with the purpose of the Plan; provided,
         however, that such grants must comply with applicable law. Subject to
         the terms of the Plan and any applicable Award Agreement, the Committee
         shall determine the terms and conditions of such Awards. Shares or
         other securities delivered pursuant to a purchase right granted under
         this Section 6(e) shall be purchased for such consideration, which may
         be paid by such method or methods and in such form or forms (including,
         without limitation, cash, Shares, other securities, other Awards or
         other property or any combination thereof), as the Committee shall
         determine.

                  (f)      General.

                           (i)   No Cash Consideration for Awards. Awards shall
                  be granted for no cash consideration or for such minimal cash
                  consideration as may be required by applicable law.

                           (ii)  Awards May Be Granted Separately or Together.
                  Awards may, in the discretion of the Committee, be granted
                  either alone or in addition to, in tandem with or in
                  substitution for any other Award or any award granted under
                  any plan of the Company or any Affiliate other than the Plan.
                  Awards granted in

                                       7
<PAGE>   8

                  addition to or in tandem with other Awards or in addition to
                  or in tandem with awards granted under any such other plan of
                  the Company or any Affiliate may be granted either at the same
                  time as or at a different time from the grant of such other
                  Awards or awards.

                           (iii) Forms of Payment under Awards. Subject to the
                  terms of the Plan and of any applicable Award Agreement,
                  payments or transfers to be made by the Company or an
                  Affiliate upon the grant, exercise or payment of an Award may
                  be made in such form or forms as the Committee shall determine
                  (including, without limitation, cash, Shares, other
                  securities, other Awards or other property or any combination
                  thereof), and may be made in a single payment or transfer, in
                  installments or on a deferred basis, in each case in
                  accordance with rules and procedures established by the
                  Committee. Such rules and procedures may include, without
                  limitation, provisions for the payment or crediting of
                  reasonable interest on installment or deferred payments.

                           (iv)  Limits on Transfer of Awards. No Award and no
                  right under any such Award shall be transferable by a
                  Participant otherwise than by will or by the laws of descent
                  and distribution; provided, however, that, if so determined by
                  the Committee, a Participant may, in the manner established by
                  the Committee, transfer Options (other than Incentive Stock
                  Options) or designate a beneficiary or beneficiaries to
                  exercise the rights of the Participant and receive any
                  property distributable with respect to any Award upon the
                  death of the Participant. Except as otherwise provided in any
                  applicable Award Agreement or amendment thereto (other than an
                  Award Agreement relating to an Incentive Stock Option),
                  pursuant to terms determined by the Committee, each Award or
                  right under any Award shall be exercisable during the
                  Participant's lifetime only by the Participant or, if
                  permissible under applicable law, by the Participant's
                  guardian or legal representative. Except as otherwise provided
                  in any applicable Award Agreement or amendment thereto (other
                  than an Award Agreement or amendment thereto relating to an
                  Incentive Stock Option), no Award or right under any such
                  Award may be pledged, alienated, attached or otherwise
                  encumbered, and any purported pledge, alienation, attachment
                  or encumbrance thereof shall be void and unenforceable against
                  the Company or any Affiliate.

                           (v)   Term of Awards. The term of each Award shall be
                  for such period as may be determined by the Committee.

                           (vi)  Restrictions; Securities Exchange Listing. All
                  certificates for Shares or other securities delivered under
                  the Plan pursuant to any Award or the exercise thereof shall
                  be subject to such stop transfer orders and other restrictions
                  as the Committee may deem advisable under the Plan or the
                  rules, regulations and other requirements of the Securities
                  and Exchange Commission and any applicable federal or state
                  securities laws, and the Committee may cause appropriate
                  entries to be made or legend or legends to be affixed on any
                  such certificates to reflect such restrictions. If the Shares
                  or other securities are listed

                                       8
<PAGE>   9

                  on a securities exchange, the Company shall not be required to
                  deliver any Shares or other securities covered by an Award
                  unless and until such Shares or other securities have been
                  listed on such securities exchange.

         7.       Amendment and Termination; Adjustments. Except to the extent
prohibited by applicable law and unless otherwise expressly provided in an Award
Agreement or in the Plan:

                  (a)      Amendments to the Plan. The Board may amend, alter,
         suspend, discontinue or terminate the Plan; provided, however, that,
         notwithstanding any other provision of the Plan or any Award Agreement,
         without the approval of the shareholders of the Company, no such
         amendment, alteration, suspension, discontinuation or termination shall
         be made that, absent such shareholder approval:

                           (i)   would cause Rule 16b-3 or Section 162(m) of the
                  Code to become unavailable with respect to the Plan;

                           (ii)  would violate the rules or regulations of the
                  Nasdaq National Market, any other securities exchange or the
                  National Association of Securities Dealers, Inc. that are
                  applicable to the Company; or

                           (iii) would cause the Company to be unable, under the
                  Code, to grant Incentive Stock Options under the Plan.

                  (b)      Amendments to Awards. The Committee may waive any
         conditions of or rights of the Company under any outstanding Award,
         prospectively or retroactively. The Committee may not amend, alter,
         suspend, discontinue or terminate any outstanding Award, prospectively
         or retroactively, to the detriment of the Participant of holder of
         beneficiary thereof without the consent of such Participant or holder
         or beneficiary thereof, except as otherwise herein provided or in the
         Award Agreement.

                  (c)      Correction of Defects, Omissions and Inconsistencies.
         The Committee may correct any defect, supply any omission or reconcile
         any inconsistency in the Plan or any Award in the manner and to the
         extent it shall deem desirable to carry the Plan into effect.

         8.       Income Tax Withholding; Tax Bonuses.

                  (a)      Withholding. In order to comply with all applicable
         federal or state income tax laws or regulations, the Company may take
         such action as it deems appropriate to ensure that all applicable
         federal or state payroll, withholding, income or other taxes that are
         the sole and absolute responsibility of a Participant are withheld or
         collected from such Participant. In order to assist a Participant in
         paying all or a portion of the federal and state taxes to be withheld
         or collected upon exercise or receipt of (or the lapse of restrictions
         relating to) an Award, the Committee, in its discretion and subject to
         such additional terms and conditions as it may adopt, may permit the
         Participant to satisfy such tax obligation by (i) electing to have the
         Company withhold a portion of the

                                       9
<PAGE>   10

         Shares otherwise to be delivered upon exercise or receipt of (or the
         lapse of restrictions relating to) such Award with a Fair Market Value
         equal to the amount of such taxes or (ii) delivering to the Company
         Shares other than Shares issuable upon exercise or receipt of (or the
         lapse of restrictions relating to) such Award with a Fair Market Value
         equal to the amount of such taxes. The election, if any, must be made
         on or before the date that the amount of tax to be withheld is
         determined.

                  (b)      Tax Bonuses. The Committee, in its discretion, shall
         have the authority, at the time of grant of any Award under this Plan
         or at any time thereafter, to approve cash bonuses to designated
         Participants to be paid upon their exercise or receipt of (or the lapse
         of restrictions relating to) Awards in order to provide funds to pay
         all or a portion of federal and state taxes due as a result of such
         exercise or receipt (or the lapse of restrictions relating to) Awards
         in order to provide funds to pay all or a portion of federal and state
         taxes due as a result of such exercise or receipt (or the lapse of such
         restrictions). The Committee shall have full authority in its
         discretion to determine the amount of any such tax bonus.

         9.       General Provisions.

                  (a)      No Rights to Awards. No Eligible Person, Participant
         or other Person shall have any claim to be granted any Award under the
         Plan, and there is no obligation for uniformity of treatment of
         Eligible Persons, Participants or holders or beneficiaries of Awards
         under the Plan. The terms and conditions of Awards need not be the same
         with respect to different Participants.

                  (b)      Award Agreements. No Participant will have rights
         under an Award granted to such Participant unless and until an Award
         Agreement shall have been duly executed on behalf of the Company. In
         the event the terms of an Award Agreement conflict with the granting
         resolution of the Committee setting forth the terms of an Award, the
         granting resolution of the Committee shall govern the terms of the
         Award and the Award Agreement shall be null and void to the extend of
         any such conflict.

                  (c)      No Rights of Shareholders. Except with respect to
         Restricted Stock and other grants of Common Stock of the Company,
         neither a Participant nor the Participant's legal representative shall
         be, or shall have any of the rights and privileges of, a shareholder of
         the Company in respect of any Shares issuable upon the exercise or
         payment of any Award, in whole or in part, unless and until the Shares
         have been issued.

                  (d)      No Limit on Other Compensation Arrangements. Nothing
         contained in the Plan shall prevent the Company or any Affiliate from
         adopting or continuing in effect other or additional compensation
         arrangements, and such arrangements may be either generally applicable
         or applicable only in specific cases.

                  (e)      No Right to Employment. The grant of an Award shall
         not be construed as giving a Participant the right to be retained in
         the employ, or as giving a Non-Employee Director the right to continue
         as a director, of the Company or any Affiliate,

                                       10
<PAGE>   11

         nor will it affect in any way the right of the Company or an Affiliate
         to terminate such employment or the term of a Non-Employee Director at
         any time, with or without cause. In addition, the Company or an
         Affiliate may at any time dismiss a Participant from employment or
         terminate the term of a Non-Employee Director free from any liability
         or any claim under the Plan, unless otherwise expressly provided in the
         Plan or in any Award Agreement.

                  (f)     Governing Law. The validity, construction and effect
         of the Plan and any rules and regulations relating to the Plan shall be
         determined in accordance with the laws of the State of Montana.

                  (g)     Severability. If any provision of the Plan or any
         Award is or becomes or is deemed to be invalid, illegal or
         unenforceable in any jurisdiction or would disqualify the Plan or any
         Award under any law deemed applicable by the Committee, such provision
         shall be construed or deemed amended to conform to applicable laws, or
         if it cannot be so construed or deemed amended without, in the
         determination of the Committee, materially altering the purpose or
         intent of the Plan or the Award, such provision shall be stricken as to
         such jurisdiction or Award, and the remainder of the Plan or any such
         Award shall remain in full force and effect.

                  (h)      No Trust or Fund Created. Neither the Plan nor any
         Award shall create or be construed to create a trust or separate fund
         of any kind or a fiduciary relationship between the Company or any
         Affiliate and a Participant or any other Person. To the extent that any
         Person acquires a right to receive payments from the Company or any
         Affiliate pursuant to an Award, such right shall be no greater than the
         right of any unsecured general creditor of the Company or any
         Affiliate.

                  (i)      No Fractional Shares. No fractional Shares shall be
         issued or delivered pursuant to the Plan or any Award, and the
         Committee shall determine whether cash shall be paid in lieu of any
         fractional Share or whether such fractional Share or any rights thereto
         shall be canceled, terminated or otherwise eliminated.

                  (j)      Headings. Headings are given to the Sections and
         subsections of the Plan solely as a convenience to facilitate
         reference. Such headings shall not be deemed in any way material or
         relevant to the construction or interpretation of the Plan or any
         provision thereof.

                  (k)      Section 16 Compliance. The Plan is intended to comply
         in all respects with Rule 16b-3 or any successor provision, as in
         effect from time to time, and in all events the Plan shall be construed
         in accordance with the requirements of Rule 16b-3. If any Plan
         provision does not comply with Rule 16b-3 as hereafter amended or
         interpreted, the provision shall be deemed inoperative. The Board, in
         its absolute discretion, may bifurcate the Plan so as to restrict,
         limit or condition the use of any provision of the Plan with respect to
         persons who are officers or directors subject to Section 16 of the
         Securities and Exchange Act of 1934, as amended, without so
         restricting, limiting or conditioning the Plan with respect to other
         Participants.

                                       11
<PAGE>   12

         10.      Effective Date of the Plan. The Plan shall be effective as of
the date (the "Effective Date") immediately prior to the date on which the
Company's registration statement relating to its initial public offering of
Common Stock is declared effective by the Securities and Exchange Commission,
subject to approval by the Company's shareholders in accordance with applicable
law.

         11.      Term of the Plan. Awards shall be granted under the Plan only
during a 10-year period beginning on the Effective Date of the Plan. However,
unless otherwise expressly provided in the Plan or in an applicable Award
Agreement, any Award theretofore granted may extend beyond the end of such
10-year period, and the authority of the Committee provided for hereunder with
respect to the Plan and any Awards, and the authority of the Board to amend the
Plan, shall extend beyond the end of such period.

                                       12

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