Document:

Exhibit 10.2

                                  iParty Corp.

                                  June 8, 2006

                       Written Summary of Renewed One-Year
             Part-time Consulting Arrangement with Mr. Vassalluzzo

         iParty Corp. shall renew its engagement of Joseph Vassalluzzo to
provide consulting services on a part-time basis over a one-year period
beginning on June 8, 2006 (the date of termination of the prior year's
arrangement) to iParty's senior management, in particular iParty's Chairman and
CEO, Sal Perisano, with respect to various retail, operational, strategic, real
estate and store location issues, as may from time to time be necessary and
appropriate. Such services shall on occasion require Mr. Vassalluzzo's presence
at iParty's corporate headquarters in Dedham, Massachusetts and/or current or
proposed store location sites, principally in New England and Florida. On or
before the end of the one-year period commencing on June 8, 2006, iParty Corp.
shall pay Mr. Vassalluzzo one or more payments not to exceed $60,000 cash for
services rendered over the one-year period beginning on June 8, 2006, with such
services to be earned at a rate of $5,000 per month.Exhibit 10.1
                                                                    ------------

                 Summary of Compensation for Executive Officers
                 ----------------------------------------------

         All of the executive officers of Cheniere Energy, Inc. ("Cheniere") are
"at will" employees and none of them has an employment or severance agreement.
The unwritten arrangements under which Cheniere's executive officers are
compensated include:

     o    a salary, reviewed annually by the Compensation Committee of the Board
          of Directors of Cheniere;

     o    eligibility for a discretionary annual cash bonus, as determined by
          the Compensation Committee;

     o    eligibility for awards under Cheniere's Amended and Restated 2003
          Stock Incentive Plan, as determined by the Compensation Committee;

     o    health, life, disability and other insurance and/or benefits; and

     o    vacation, paid sick leave and all other employee benefits.

         The following table sets forth the 2006 annual base salary amounts for
each of Cheniere's executive officers:

                                                                 2006 Annual
Executive Officer                                                Base Salary
-----------------                                                -----------

Charif Souki                                                       $550,000
Chairman and Chief Executive Officer

Stanley C. Horton                                                  $425,000
President and
Chief Operating Officer

Walter L. Williams                                                 $250,000
Vice Chairman

David B. Gorte*                                                    $240,000
Senior Vice President and
Chief Risk Officer

Jonathan S. Gross                                                  $250,000
Senior Vice President -
Exploration

Zurab S. Kobiashvili                                               $250,000
Senior Vice President &
General Counsel

Keith M. Meyer                                                     $250,000
Senior Vice President - LNG

Don A. Turkleson                                                   $250,000
Senior Vice President,
Chief Financial Officer
and Secretary

*Mr. Gorte's expected date of employment is August 21, 2006.Exhibit 4.5

                        Investors Capital Holdings, Ltd.

                           2005 Equity Incentive Plan

SECTION 1
PURPOSE

The purpose of the Investors Capital Holdings, Ltd. 2005 Equity Incentive Plan
is to provide a means whereby Investors Capital Holdings, Ltd., a Massachusetts
corporation (the "Corporation"), may attract able persons to remain in or to
enter the employ of the Corporation, a Parent Corporation, or a Subsidiary and
to provide a means whereby those employees, directors, officers, and other
individuals upon whom the responsibilities of the successful administration,
management, planning, and/or organization of the Corporation may rest, and whose
present and potential contributions to the welfare of the Corporation, a Parent
Corporation or a Subsidiary are of importance, can acquire and maintain stock
ownership, thereby strengthening their concern for the long-term welfare of the
Corporation. A further purpose of the Plan is to provide such employees and
other individuals with additional incentive and reward opportunities designed to
enhance the profitable growth of the Corporation over the long term.
Accordingly, the Plan provides for granting Common Stock, Incentive Stock
Options, options which do not constitute Incentive Stock Options, or any
combination of the foregoing, as is best suited to the circumstances of the
particular employees and other individuals as provided herein.

SECTION 2
DEFINITIONS

The following definitions shall be applicable during the term of the Plan unless
specifically modified by any paragraph:

(a)  Administrator means the Board and/or such person(s),  committee(s) or other
     group(s) as the Board may  designate  from time to time to  administer  the
     Plan or any portion(s) thereof, all at the pleasure of the Board.

(b)  Award means,  individually  or  collectively,  any Grant or Option  granted
     pursuant to the Plan.

(c)  Board means the board of directors of the Corporation.

                                       17
<PAGE>

(d)  Change of Control Value of an Option means the amount  determined in Clause
     (i), (ii) or (iii), whichever is applicable,  as follows: (i) the per share
     price  offered  to   stockholders   of  the   Corporation  in  any  merger,
     consolidation,  sale of assets or dissolution  transaction,  (ii) the price
     per share offered to stockholders of the corporation in any tender offer or
     exchange  offer  whereby  a  Corporate  Change  takes  place  or (iii) if a
     Corporate  Change  occurs  other than as  described in Clause (i) or Clause
     (ii), the fair market value per share determined by the Administrator as of
     the date determined by the Administrator to be the date of cancellation and
     surrender of an Option. If the consideration offered to stockholders of the
     Corporation  in any  transaction  described in this Paragraph or Paragraphs
     (d) and (e) of  Section  8  consists  of  anything  other  than  cash,  the
     Administrator  shall  determine the fair cash  equivalent of the portion of
     the consideration offered which is other than cash.

(e)  Code means the Internal Revenue Code of 1986, as amended.  Reference in the
     Plan to any Section of the Code shall be deemed to include  any  amendments
     or  successor  provisions  to such Section and any  regulations  under such
     Section.

(f)  Common Stock means the common stock of the Corporation.

(g)  Corporation means Investors Capital Holdings, Ltd.

(h)  Corporate  Change  means  one of the  following  events:  (i)  the  merger,
     consolidation  or other  reorganization  of the  Corporation  in which  the
     outstanding  Common  Stock is converted  into or exchanged  for a different
     class of securities of the Corporation,  a class of securities of any other
     issuer (except a Subsidiary or Parent Corporation),  cash or other property
     other than (a) a merger, consolidation or reorganization of the Corporation
     which  would  result in the  voting  stock of the  Corporation  outstanding
     immediately  prior  thereto  continuing  to represent  (either by remaining
     outstanding or by being  converted into voting  securities of the surviving
     entity),  in  combination  with  the  ownership  of any  trustee  or  other
     fiduciary  holding  securities  under  an  employee  benefit  plan  of  the
     Corporation,  at least sixty percent (60%) of the combined  voting power of
     the voting stock of the  Corporation or such surviving  entity  outstanding
     immediately  after such  merger,  consolidation  or  reorganization  of the
     Corporation,  or  (b)  merger,   consolidation  or  reorganization  of  the
     Corporation effected to implement a recapitalization of the Corporation (or
     similar  transaction)  in which no person  acquires  more  than  forty-nine
     percent  (49%)  of the  combined  voting  power of the  Corporation's  then
     outstanding stock; (ii) the sale, lease or exchange of all or substantially
     all of the assets of the  Corporation  to any other  corporation  or entity
     (except a  Subsidiary  or Parent  Corporation);  (iii) the  adoption by the
     stockholders of the  Corporation of a plan of liquidation and  dissolution;
     (iv) the acquisition  (other than acquisition  pursuant to any other clause
     of this definition) by any person or entity, including without limitation a
     "group" as  contemplated  by  Section  13(d)(3)  of the  Exchange  Act,  of
     beneficial  ownership,  as  contemplated  by such  Section,  of  more  than
     twenty-five  percent  (25%)  (based on voting  power) of the  Corporation's
     outstanding  capital  stock  or  acquisition  by a  person  or  entity  who
     currently  has  beneficial  ownership  which  increases  such  person's  or
     entity's  beneficial  ownership  to fifty  percent  (50%) or more (based on
     voting power) of the Corporation's  outstanding  capital stock; or (v) as a
     result of or in  connection  with a contested  election of  directors,  the
     persons who were  directors of the  Corporation  before such election shall
     cease to constitute a majority of the Board.  The provisions of clause (iv)
     above  notwithstanding,  a Corporate Change shall not be considered to have
     occurred upon the acquisition (other than acquisition pursuant to any other
     clause  of the  preceding  sentence)  by any  person or  entity,  including
     without  limitation a "group" as  contemplated  by Section  13(d)(3) of the
     Exchange Act, of beneficial ownership,  as contemplated by such Section, of
     more  than  twenty-five  percent  (25%)  (based  on  voting  power)  of the
     Corporation's  outstanding  capital  stock or the  requisite  percentage to
     increase  their  ownership to fifty percent (50%)  resulting  from a public
     offering of securities of the Corporation under the Securities Act of 1933,
     as amended.

                                       18
<PAGE>

(i)  Exchange Act means the Securities Exchange Act of 1934, as amended.

(j)  Fair Market Value means, as of any specified date, the closing price of the
     Common Stock on the American Stock Exchange (or, if the Common Stock is not
     listed on such exchange,  such other national  securities exchange on which
     the Common Stock is then listed) on that date, or if no prices are reported
     on that date, on the last preceding date on which such prices of the Common
     Stock  are so  reported.  If the  Common  Stock is not then  listed  on any
     national  securities  exchange  but is traded  over the counter at the time
     determination  of its Fair Market  Value is required to be made  hereunder,
     its Fair Market  Value  shall be deemed to be equal to the average  between
     the  reported  high and low sales prices of Common Stock on the most recent
     date on which Common Stock was publicly traded.  If the Common Stock is not
     publicly traded at the time a determination  of its value is required to be
     made hereunder, the determination of its Fair Market Value shall be made by
     the   Administrator   in  such  manner  as  it  deems   appropriate   (such
     determination  will be made in good-faith as required by Section  422(c)(1)
     of the Code and may be based on the  advice  of an  independent  investment
     banker or appraiser recognized to be expert in making such valuations).

(k)  Grant means individually or collectively, any granting of Common Stock made
     pursuant to the Plan.

(l)  Grantee means an employee, director, officer or other individual who is the
     recipient of a Grant pursuant to the Plan.

(m)  Incentive Stock Option means an Option within the meaning of Section 422 of
     the Code.

(n)  Option  means a stock  option  granted  under  Section  7 of the  Plan  and
     includes both Incentive  Stock Options to purchase Common Stock and Options
     that do not constitute Incentive Stock Options to purchase Common Stock.

(o)  Option Agreement means a written  agreement  between the Corporation and an
     Optionee with respect to an Option.

                                       19
<PAGE>

(p)  Optionee means an employee,  director,  officer or other  individual who is
     the recipient of an Option.

(q)  Parent  Corporation  shall have the meaning set forth in Section  424(e) of
     the Code.

(r)  Plan means the Investors Capital Holdings, Ltd. 2005 Equity Incentive Plan.

(s)  Rule 16b-3 means Rule 16b-3 of the  General  Rules and  Regulations  of the
     Securities and Exchange  Commission under the Exchange Act, as such rule is
     currently in effect or as hereafter modified or amended.

(t)  Subsidiary  means a company  (whether  a  corporation,  partnership,  joint
     venture or other form of entity) in which the Corporation, or a corporation
     in which the  Corporation  directly  or  indirectly  owns a majority of the
     shares of capital  stock or other  equity  interest,  except,  solely  with
     respect to the issuance of Incentive Stock Options,  the term  "Subsidiary"
     shall have the same meaning as the term "subsidiary corporation" as defined
     in Section 424(f) of the Code.

SECTION 3
EFFECTIVE DATE AND DURATION OF THE PLAN

The Plan shall be effective upon adoption by the Board, provided that the Plan
is approved by the stockholders of the Corporation on or prior to the date of
the first annual meeting of stockholders of the Corporation held subsequent to
such Board adoption. Any provision of the Plan or of any Award Agreement to the
contrary notwithstanding, no Option shall be exercisable and no Grant shall be
awarded prior to such stockholder approval. The Plan shall terminate and no
further Awards may be made under the Plan after ten (10) years from the date the
Plan is adopted by the Board. Subject to the provisions of Section 9, the Plan
shall remain in effect until all Options granted under the Plan have been
exercised or have expired by reason of lapse of time and all restrictions
imposed upon Grants have lapsed. Any Option exercised or Grant made before
shareholder approval is obtained must be rescinded if such shareholder approval
is not obtained, and any shares purported to be issued pursuant to any such
Option exercise or Grant shall not be counted in determining whether such
shareholder approval is obtained.

                                       20
<PAGE>

SECTION 4
ADMINISTRATION

(a)  Administration of Plan. The Plan shall be administered by the Administrator
     in compliance with applicable laws,  rules and  regulations.  The Plan also
     shall be administered by the  Administrator and in such manner as to secure
     available exemptions from Section 16(b) of the Exchange Act (such as, among
     other things under Rule 16b-3 as currently constituted, by having Awards to
     directors  and  officers of the  Corporation  specifically  approved by the
     Board or a  committee  thereof  that is  comprised  solely of  Non-Employee
     Directors,  as such term is used in said rule).  Individuals comprising the
     Administrator  shall  abstain from  participating  in and deciding  matters
     which directly affect their individual ownership interests under the Plan.

(b)  Powers. Subject to the terms of the Plan, the Administrator shall have sole
     authority,  in the  Administrator's  discretion,  to  determine  (i)  which
     employees, officers, directors or other individuals shall receive an Award,
     (ii) the time or times  when  such  Award  shall be made,  (iii)  whether a
     Grant, an Incentive  Stock Option or nonqualified  Option shall be awarded,
     (iv) the  number of shares of Common  Stock  which may be issued  under the
     Award,  (v)  any  vesting,  performance  or  other  restrictions  upon  the
     exercisability  of an Option,  (vi) any vesting,  performance,  forfeiture,
     repurchase or other restrictions upon Grants, (vii) and any other terms and
     conditions of the Award. In making such  determinations,  the Administrator
     may  take  into  account  the  nature  of the  services  rendered  by these
     individuals, their present and potential contribution to the success of the
     Corporation,  a Parent Corporation or a Subsidiary,  and such other factors
     as the Administrator in its discretion shall deem relevant.

(c)  Additional Powers.  The Administrator  shall have such additional powers as
     are  provided  for by the  provisions  of the Plan.  Subject to the express
     provisions  of the  Plan,  the  Administrator  is  authorized  in its  sole
     discretion,  exercised  in a  nondiscriminatory  manner,  to  construe  and
     interpret the Plan and the respective  agreements executed  thereunder,  to
     prescribe  such rules and  regulations  relating to the Plan as it may deem
     advisable to carry out the Plan,  and to determine the terms,  restrictions
     and  provisions  of each  Award,  including  such terms,  restrictions  and
     provisions  as shall be requisite in the judgment of the  Administrator  to
     cause designated Options to qualify as Incentive Stock Options, and to make
     all other determinations necessary or advisable for administering the Plan.
     The  Administrator  may  correct  any  defect or  supply  any  omission  or
     reconcile any  inconsistency  in any agreement  relating to an Award in the
     manner and to the extent it shall deem  expedient  to carry it into effect.
     The  determination of the  Administrator on the matters referred to in this
     Section  4  shall  be  conclusive  and  binding  upon  all  recipients  and
     beneficiaries of Awards.

(d)  Compliance  With Code  Section  162(m).  The  Corporation  may  establish a
     committee of outside  directors  meeting the  requirements  of Code Section
     162(m) to (i)  approve  the  making  of Awards  that  might  reasonably  be
     anticipated  to result in the payment of employee  remuneration  that would
     otherwise exceed the limit on employee  remuneration  deductible for income
     tax purposes by the  Corporation  pursuant to Code Section  162(m) and (ii)
     administer the Plan with respect to such Awards.. In addition, Awards under
     the Plan shall be made upon  satisfaction  of the conditions to such Awards
     provided  pursuant  to Code  Section  162(m) and any  Treasury  Regulations
     promulgated thereunder.

                                       21
<PAGE>

SECTION 5
STOCK SUBJECT TO THE PLAN

(a)  Award Limits. The Administrator may from time to time make Awards to one or
     more employees,  directors, officers or other individuals determined by the
     Administrator  to be eligible for  participation  in the Plan in accordance
     with the  provisions  of  Section 6 of the Plan.  The  aggregate  number of
     shares of Common  Stock that may be issued  under the Plan shall not exceed
     1,000,000  shares.  The aggregate number of shares of Common Stock that may
     be issued to any given  individual  under all  Awards  shall not exceed 10%
     percent of the  aggregate  number of shares  referred  to in the  preceding
     sentence.  Any of such  shares  which  remain  unissued  and  which are not
     subject to outstanding Awards at the termination of the Plan shall cease to
     be subject to the Plan but, until  termination of the Plan, the Corporation
     shall at all  times  reserve  a  sufficient  number  of  shares to meet the
     requirements of the Plan.  Shares shall be deemed to have been issued under
     the Plan only to the extent  actually  issued and delivered  pursuant to an
     Award.  To the extent that an Award lapses or the rights of its Optionee or
     Grantee  terminate,  any shares of Common Stock subject to such Award shall
     again be  available  for the making of an Award.  The  aggregate  number of
     shares which may be issued under the Plan shall be subject to adjustment in
     the same manner as provided in Section 8 of the Plan with respect to shares
     of Common  Stock  subject  to  Options  then  outstanding.  Separate  stock
     certificates  shall be issued by the  Corporation for those shares acquired
     pursuant to a Grant,  the  exercise of an  Incentive  Stock  Option and for
     those shares acquired pursuant to the exercise of any Option which does not
     constitute an Incentive Stock Option.

(b)  Stock  Offered.  The  stock  to be  offered  pursuant  to an  Award  may be
     authorized but unissued Common Stock or Common Stock previously  issued and
     outstanding and reacquired by the Corporation.

SECTION 6
ELIGIBILITY

An Incentive Stock Option Award made pursuant to the Plan may be awarded only to
an individual  who, at the time of award, is an employee of the  Corporation,  a
Parent  Corporation  or a Subsidiary.  An Award of a Grant or an Option which is
not an Incentive  Stock Option may be made to an individual  who, at the time of
Award, is an employee of the Corporation,  a Parent Corporation or a Subsidiary,
or to an individual who has been identified by the  Administrator  to receive an
Award due to such  individual's  contribution  or  service  to the  Corporation,
including  members  of the  board  of  directors  of the  Corporation,  a Parent
Corporation  or a Subsidiary.  An Award made pursuant to the Plan may be made on
more than one occasion to the same  person,  and such Award may include a Grant,
an Incentive Stock Option,  an Option which is not an Incentive Stock Option, or
any combination  thereof.  Each Award shall be evidenced by a written instrument
duly executed by or on behalf of the Corporation and by the Optionee or Grantee.

                                       22
<PAGE>

SECTION 7
OPTIONS

(a)  Stock  Option  Agreement.  Each  Option  shall be  evidenced  by an  Option
     Agreement between the Corporation and the Optionee which shall contain such
     terms and  conditions  as may be approved by the  Administrator  and agreed
     upon by the Optionee.  The terms and  conditions of the  respective  Option
     Agreements need not be identical.  Each Option  Agreement shall specify the
     effect  of  termination  of  employment,  total and  permanent  disability,
     retirement or death on the exercisability of the Option.  Under each Option
     Agreement,  the Optionee  shall have the right to appoint any individual or
     legal  entity in  writing as his or her  beneficiary  under the Plan in the
     event of the Optionee's  death.  Such designation may be revoked in writing
     by the  Optionee  at any time and a new  beneficiary  may be  appointed  in
     writing on the form provided by the Administrator for such purpose.  In the
     absence  of  such   appointment,   the  beneficiary   shall  be  the  legal
     representative of the Optionee's estate.

(b)  Option  Period.  The  term of each  Option  shall  be as  specified  by the
     Administrator  at the  date of award  and  shall be  stated  in the  Option
     Agreement; provided, however, that an option may not be exercised more than
     one hundred twenty (120) months from the date it is awarded.

(c)  Limitations on Exercise of Option.  Any Option awarded  hereunder  shall be
     exercisable  at such times and under such  conditions  as determined by the
     Administrator  and as shall be  permissible  under  the  terms of the Plan,
     which shall be specified in the Option Agreement  evidencing the Option. An
     Option may not be exercised for fractional shares.

(d)  Special  Limitations  on Incentive  Stock  Options.  To the extent that the
     aggregate  Fair  Market  Value  (determined  at  the  time  the  respective
     Incentive  Stock  Option is awarded) of Common  Stock with respect to which
     Incentive Stock Options are exercisable for the first time by an individual
     during any  calendar  year under all  incentive  stock  option plans of the
     Corporation (and any Parent Corporation or Subsidiary)  exceeds One Hundred
     Thousand  Dollars  ($100,000)  (within  the  meaning of Section  422 of the
     Code),  such excess  Incentive  Stock  Options  shall be treated as Options
     which do not constitute  Incentive Stock Options.  The Administrator  shall
     determine,  in accordance with applicable  provisions of the Code, Treasury
     Regulations and other administrative pronouncements, which of an Optionee's
     Incentive Stock Options will not constitute Incentive Stock Options because
     of such limitation and shall notify the Optionee of such  determination  as
     soon as practicable  after such  determination.  No Incentive  Stock Option
     shall be awarded to an  individual  if, at the time the Option is  awarded,
     such  individual  owns stock  possessing more than ten percent (10%) of the
     total combined  voting power of all classes of stock of the  Corporation or
     of its Parent  Corporation  or a Subsidiary,  within the meaning of Section
     422(b)(6)  of the Code,  unless (i) at the time such  Option is awarded the
     Option price is at least one hundred ten percent  (110%) of the Fair Market
     Value of the Common Stock subject to the Option and (ii) such Option by its
     terms is not  exercisable  after the expiration of five years from the date
     of award.

                                       23
<PAGE>

(e)  Option Price.  The purchase  price of Common Stock issued under each Option
     shall be determined by the  Administrator and shall be stated in the Option
     Agreement,  but such purchase price shall,  in the case of Incentive  Stock
     Options,  not be less than the Fair Market Value of Common Stock subject to
     the Option on the date the Option is  awarded,  and, in the case of Options
     which  do  not  constitute  Incentive  Stock  Options,  not  be  less  than
     eighty-five  percent  (85%) of the fair  value of the stock at the time the
     option is  awarded,  except that the price shall be one hundred ten percent
     (110%)  of the  fair  value  in the  case  of any  person  who  owns  stock
     comprising  more than ten percent (10%) of the total combined  voting power
     of all classes of stock of the  Corporation  or its Parent  Corporation  or
     Subsidiary.

(f)  Options  and  Rights  in  Substitution  for  Stock  Options  Made by  Other
     Corporations.  Options  may be awarded  under the Plan from time to time in
     substitution  for stock  options  held by  employees  of  corporations  who
     become, or who became prior to the effective date of the Plan, employees of
     the Corporation, of any Parent Corporation or of any Subsidiary as a result
     of a  merger  or  consolidation  of  the  employing  corporation  with  the
     Corporation, such Parent Corporation or such Subsidiary, or the acquisition
     by the  Corporation,  a  Parent  Corporation  or a  Subsidiary  of all or a
     portion of the assets of the employing  corporation,  or the acquisition by
     the  Corporation,  a Parent  Corporation  or a  Subsidiary  of stock of the
     employing  corporation  with the  result  that such  employing  corporation
     becomes a Subsidiary.

(g)  Manner of Payment. The Option price shall be payable:

     (i) in cash or its equivalent;

     (ii) in shares of Common Stock  previously  acquired by the Optionee if, in
     the case of an Incentive Stock Option,  the Administrator in its discretion
     causes the Option  Agreement  so to provide or if, in the case of an option
     not  constituting  an Incentive  Stock  Option,  the  Administrator  in its
     discretion so determines at or prior to the time of exercise, provided that
     if such previously  acquired shares (A) were acquired  through the exercise
     of an Incentive  Stock Option and are used to pay the Option exercise price
     of an  Incentive  Stock  Option,  such  shares  shall have been held by the
     Optionee  for a period of not less than the  holding  period  described  in
     section 422(a)(1) of the Code on the date of exercise, or (B) were acquired
     through exercise of an option not constituting an Incentive Stock Option or
     of an option under a similar plan or through exercise of an Incentive Stock
     Option  and are used to pay the  Option  exercise  price of an  option  not
     constituting an Incentive  Stock Option,  such shares have been held by the
     Optionee for a period of more than 12 months on the date of exercise;

     (iii) in the discretion of the Administrator, in any combination of (i) and
     (ii) above; or

                                       24
<PAGE>

     (iv) in the discretion of the Administrator,  on a net exercise basis as to
     a number of Option shares specified by the Optionee on the Form of Exercise
     (the  "Exercise  Number").  Such election shall be honored if the per share
     Fair Market  Value of Common  Stock  exceeds the per share  exercise  price
     hereunder  as of the  exercise  date.  In such  case,  the number of Option
     shares as to which the Option may  thereafter be exercised  (subject to the
     other provisions  hereof) shall be reduced by the Exercise Number,  and the
     Corporation  shall issue to Optionee a lesser number of Option shares equal
     to E(V-P)/V where:

          E = the Exercise Number;

     V = the per share Fair Market Value of Common Stock; and

          P = the per share exercise price hereunder.

     In the event an Option  exercise  price is paid, in whole or in part,  with
     shares of Common Stock as  contemplated  by subsection (ii) or (iii) above,
     the  portion of the  Option  exercise  price so paid  shall  equal the Fair
     Market  Value  on the  date  of  exercise  of  the  Option  of  the  shares
     surrendered in payment of such Option exercise price.

     In the  discretion  of the  Administrator,  an  Optionee  may pay an Option
     exercise price in cash, as contemplated  by subsection (i) above,  pursuant
     to a  so-called  "cashless  exercise"  whereby  the  Company  receives  the
     exercise price directly from the Optionee's broker out of the proceeds from
     the sale or loan  against  all or a portion of the shares  being  purchased
     under the Option.

SECTION 8
RECAPITALIZATION OR REORGANIZATION

(a)  Except as  hereinafter  otherwise  provided,  Awards  shall be  subject  to
     adjustment  by the  Administrator  in its  discretion  as to the number and
     price of shares of Common Stock in the event of changes in the  outstanding
     Common Stock by reason of stock  dividends,  stock  splits,  reverse  stock
     splits,  reclassifications,  recapitalizations,  reorganizations,  mergers,
     consolidations,  combinations,  exchanges  or  other  relevant  changes  in
     capitalization occurring after the date of the award of any such Options or
     Common Stock.

(b)  The existence of the Plan and the Awards made hereunder shall not affect in
     any  way the  right  or  power  of the  Board  or the  stockholders  of the
     Corporation  to  make  or  authorize  any   adjustment,   recapitalization,
     reorganization or other change in the capital structure of the Corporation,
     a Parent  Corporation  or a  Subsidiary  or their  business,  any merger or
     consolidation of the Corporation, a Parent Corporation or a Subsidiary, any
     issue of debt or equity  securities  having any priority or preference with
     respect to or affecting Common Stock or the rights thereof, the dissolution
     or liquidation of the Corporation, a Parent Corporation or a Subsidiary, or
     any sale, lease,  exchange or other disposition of all or any part of their
     assets or business or any other corporate act or proceeding.

                                       25
<PAGE>

(c)  The shares  with  respect  to which  Options  may be awarded  are shares of
     Common Stock as presently  constituted  but if and  whenever,  prior to the
     expiration of an Option theretofore awarded, the Corporation shall effect a
     subdivision or  consolidation of shares of Common Stock or the payment of a
     stock  dividend on Common Stock  without  receipt of  consideration  by the
     Corporation,  the number of shares of Common  Stock  with  respect to which
     such Option may  thereafter be exercised (i) in the event of an increase in
     the number of outstanding  shares shall be proportionately  increased,  and
     the purchase price per share shall be proportionately  reduced, and (ii) in
     the event of a  reduction  in the  number of  outstanding  shares  shall be
     proportionately  reduced,  and  the  purchase  price  per  share  shall  be
     proportionately increased.

(d)  If  the  Corporation   recapitalizes  or  otherwise   changes  its  capital
     structure,  thereafter upon any exercise of an Option theretofore  awarded,
     the Optionee  shall be entitled to purchase  under such Option,  in lieu of
     the number of shares of Common  Stock as to which such Option shall then be
     exercisable,  the number and class of shares of stock and  securities,  and
     the cash and other  property to which the Optionee would have been entitled
     pursuant to the terms of the recapitalization if, immediately prior to such
     recapitalization,  the  Optionee  had been the holder of such record of the
     number of shares of Common Stock then covered by such Option.

(e)  In  the  event  of a  Corporate  Change,  unless  otherwise  deemed  to  be
     impractical by the Administrator,  then no later than (i) two business days
     prior to any Corporate Change referenced in Clause (i), (ii), (iii), (v) or
     (vi) of the  definition  thereof  or  (ii)  ten  business  days  after  any
     Corporate Change referenced in Clause (iv) of the definition  thereof,  the
     Administrator,  acting  in its  sole  discretion  without  the  consent  or
     approval  of any  Optionee or  Grantee,  shall act to effect the  following
     alternatives with respect to outstanding  Options which acts may vary among
     individual Optionees and, with respect to acts taken pursuant to Clause (i)
     above, may be contingent upon effectuation of the Corporate Change:  (A) in
     the event of a Corporate  Change  referenced  in Clauses (i), (ii) and (vi)
     acceleration  of exercise  for all Options  then  outstanding  so that such
     Options may be exercised in full for a limited  period of time on or before
     a  specified  date  (before or after such  Corporate  Change)  fixed by the
     Administrator,  after which specified date all unexercised  Options and all
     rights  of  Optionees  thereunder  shall  terminate;  (B) in the event of a
     Corporate  Change  referenced  in Clauses  (iii),  (iv) and (v) require the
     mandatory surrender to the Corporation by selected Optionees of some or all
     of the outstanding Options held by such Optionees  (irrespective of whether
     such Options are then exercisable under the provisions of the Plan) as of a
     date   (before  or  after  such   Corporate   Change)   specified   by  the
     Administrator, in which event the Administrator shall thereupon cancel such
     Options  and pay to each  Optionee an amount of cash per share equal to the
     excess,  if any,  of the Change of Control  Value of the shares  subject to
     such Option over the exercise  price(s) under such Options for such shares;
     (C) in the event of a Corporate  Change  referenced in Clauses (iii),  (iv)
     and  (v),  make  such  adjustments  to  Options  then  outstanding  as  the
     Administrator deems appropriate to reflect such Corporate Change (provided,
     however,  that the  Administrator may determine in its sole discretion that
     no adjustment is necessary to Options then  outstanding);  (D) in the event
     of a Corporate  Change  referenced in Clauses (iii),  (iv) and (v), provide
     that  thereafter  upon any  exercise of an Option  theretofore  awarded the
     Optionee  shall be entitled to purchase  under such Option,  in lieu of the
     number of shares of Common  Stock as to which  such  Option  shall  then be
     exercisable, the number and class of shares of stock or other securities or
     property (including,  without limitation, cash) to which the Optionee would
     have been  entitled  pursuant  to the  terms of the  agreement  of  merger,
     consolidation  or sale of assets or plan of liquidation and dissolution if,
     immediately  prior to such merger,  consolidation  or sale of assets or any
     distribution  in  liquidation  and  dissolution  of  the  Corporation,  the
     Optionee  had been the  holder of record of the  number of shares of Common
     Stock  then  covered  by such  Option;  or (E) in the event of a  Corporate
     Change  referenced  in Clauses  (iii),  (iv) and (v),  cancel  the  Options
     awarded if the Fair Market Value of the Common Stock underlying the Options
     is below the Option exercise price.

                                       26
<PAGE>

(f)  Except as hereinbefore  expressly provided,  issuance by the Corporation of
     shares of stock of any class or securities convertible into shares of stock
     of any class, for cash, property, labor or services, upon direct sale, upon
     the  exercise  of  rights  or  warranty  to  subscribe  therefore,  or upon
     conversion of shares or obligations  of the  Corporation  convertible  into
     such shares or other  securities,  and in any case  whether or not for fair
     value,  shall not affect, and no adjustment by reason thereof shall be made
     with  respect to, the number of shares of Common  Stock  subject to Options
     theretofore  awarded,  or the  purchase  price per  share of  Common  Stock
     subject to Options.

SECTION 9
AMENDMENT OR TERMINATION OF THE PLAN

The Administrator in its discretion may terminate the Plan or any Award or alter
or amend the Plan or any part  thereof or any Award from time to time;  provided
that no change in any Award  previously  made may be made which would impair the
rights of the  Optionee  or  Grantee  without  the  consent of the  Optionee  or
Grantee, and provided further,  that the Administrator may not, without approval
of the stockholders, amend the Plan:

(a)  to increase the aggregate  number of shares which may be issued pursuant to
     the  provisions  of the Plan on  exercise or  surrender  of Options or upon
     Grants;

(b)  to change the minimum Option exercise price;

(c)  to change the class of  individuals  eligible to receive Awards or increase
     materially the benefits accruing to individuals under the Plan;

(d)  to extend the  maximum  period  during  which  Awards may be made under the
     Plan;

(e)  to modify  materially the requirements as to eligibility for  participation
     in the Plan; or

(f)  to  decrease  any  authority  granted  to the  Administrator  hereunder  in
     contravention of any exemption available under Rule 16b-3.

                                       27
<PAGE>

SECTION 10
OTHER

(a)  No Right to an Award.  Neither  the  adoption of the Plan nor any action of
     the  Administrator  shall be  deemed  to give an  employee  any right to be
     awarded an Option to purchase  Common  Stock,  to receive a Grant or to any
     other rights  hereunder  except as may be  evidenced  by an agreement  duly
     executed on behalf of the  Corporation,  and then only to the extent of and
     on the terms and conditions  expressly set forth therein. The Plan shall be
     unfunded. The Corporation shall not be required to establish any special or
     separate fund or to make any other segregation of funds or assets to assure
     the payment of any Award.

(b)  No Employment  Rights  Conferred.  Nothing  contained in the Plan or in any
     Award made  hereunder  shall (i) confer  upon any  employee  any right with
     respect to  continuation  of employment  with the Corporation or any Parent
     Corporation or  Subsidiary,  or (ii) interfere in any way with the right of
     the Corporation or any Parent Corporation or Subsidiary to terminate his or
     her employment at any time.

(c)  Other Laws;  Withholding.  The Corporation  shall not be obligated to issue
     any Common Stock pursuant to any Award made under the Plan at any time when
     the  offering of the shares  covered by such Award has not been  registered
     (or  exempted)  under the  Securities  Act of 1933 and such other state and
     federal laws, rules or regulations as the Corporation or the  Administrator
     deems  applicable and, in the opinion of legal counsel for the Corporation,
     there is no  exemption  from the  registration  requirements  of such laws,
     rules or regulations available for the issuance and sale of such shares. No
     fractional shares of Common Stock shall be delivered, nor shall any cash in
     lieu of fractional  shares be paid. The Corporation shall have the right to
     deduct  in  connection  with all  Awards  any taxes  required  by law to be
     withheld and to require any payments  necessary to enable it to satisfy its
     withholding  obligations.  The  Administrator  may  permit the holder of an
     Award to elect to  surrender,  or  authorize  the  Corporation  to withhold
     shares of Common  Stock  (valued at their Fair Market  Value on the date of
     surrender  or   withholding  of  such  shares)  in   satisfaction   of  the
     Corporation's  withholding obligation,  subject to such restrictions as the
     Administrator   deems   necessary  to  satisfy  the   exemption  and  other
     requirements of Rule 16b-3.

(d)  No Restriction of Corporate Action.  Nothing contained in the Plan shall be
     construed  to  prevent  the  Corporation  or  any  Parent   Corporation  or
     Subsidiary  from  taking  any  corporate  action  which  is  deemed  by the
     Corporation  or such Parent  Corporation or Subsidiary to be appropriate or
     in its best  interest,  whether  or not such  action  would have an adverse
     effect  on the  Plan  or any  Award  made  under  the  Plan.  No  employee,
     beneficiary or other person shall have any claim against the Corporation or
     any Parent Corporation or Subsidiary as a result of such action.

                                       28
<PAGE>

(e)  Restrictions  on Transfer.  An Option shall not be  transferable  otherwise
     than  by  will or the  laws  of  descent  and  distribution  and  shall  be
     exercisable  during the lifetime of the Optionee  only by such  Optionee or
     the Optionee's guardian or legal representative.

(f)  Effect of Death,  Disability  or  Termination  of  Employment.  The  Option
     Agreement or other  written  instrument  evidencing an Option shall specify
     the effect of the death,  disability  or  termination  of employment of the
     Optionee  on the  Option;  provided,  however  that an  Optionee  shall  be
     entitled  to  exercise  (i) at  least  six  (6)  months  from  the  date of
     termination  of employment  with the  Corporation  if such  termination  is
     caused by death or  disability  or (ii) at least  thirty (30) days from the
     date of termination of employment with the Corporation if such  termination
     is caused by reasons other than death or disability.

     All outstanding  Incentive Stock Options will automatically be converted to
     a nonqualified stock option if the Optionee does not exercise the Incentive
     Stock Option (i) within three (3) months of the date of termination  caused
     by reasons  other than death or  disability;  or (ii)  within  twelve  (12)
     months of the date of termination caused by disability.

(g)  Information to Employees.  Optionees under the Plan shall receive financial
     statements annually regarding the Corporation during the period the Options
     are outstanding..

(h)  Rule  16b-3.  It is  intended  that the Plan and any Award made to a person
     subject  to  Section  16 of the  Exchange  Act  meet  all of the  exemption
     requirements of Rule 16b-3. If any provisions of the Plan or any such Award
     would disqualify the Plan or such Award  hereunder,  or would otherwise not
     comply with Rule 16b-3,  such  provision  or Award  shall be  construed  or
     deemed amended to conform to Rule 16b-3.

(i)  Withholding and Use of Shares to Satisfy Tax Obligations. The obligation of
     the Company to deliver Common Stock or pay cash to an Optionee  pursuant to
     any Award under the Plan shall be subject to applicable federal,  state and
     local tax  withholding  requirements.  In connection  with an Award that is
     subject to the withholding requirements of applicable federal tax laws, the
     Administrator,  in its discretion  (and subject to such  withholding  rules
     ("Withholding Rules") as shall be adopted by the Administrator), may permit
     the holder of the Award to satisfy the minimum required federal,  state and
     local withholding tax, in whole or in part, by electing to have the Company
     withhold  (or by  returning to the Company  shares of Common  Stock,  which
     shares shall be valued, for this purpose, at their Fair Market Value on the
     date shares are issued  pursuant  to the Award or  exercise  thereof (or if
     later,  the date on which the  Optionee  recognizes  ordinary  income  with
     respect to such issuance) (the  "Determination  Date").  An election to use
     shares of Common Stock to satisfy tax withholding requirements must be made
     in compliance  with and subject to the Withholding  Rules.  The Company may
     not  withhold  shares in excess of the  number  necessary  to  satisfy  the
     minimum   required   federal,   state  and  local  income  tax  withholding
     requirements.  In the  event  shares  of Common  Stock  acquired  under the
     exercise of an Incentive Stock Option are used to satisfy such  withholding
     requirement,  such  shares  of  Common  Stock  must  have  been held by the
     Optionee  for a period of not less than the  holding  period  described  in
     section 422(a)(1) of the Code on the Determination  Date, or if such shares
     of  Common  Stock  were  acquired   through   exercise  of  an  option  not
     constituting  an  Incentive  Stock  Option or of an option  under a similar
     plan,  such  option  must have been  granted to the  Optionee  at least six
     months prior to the Determination Date.

                                       29
<PAGE>

(j)  Registration  of Shares.  Each Option  shall be subject to the  requirement
     that, if at any time the Administrator shall determine,  in its discretion,
     that the  registration or qualification of the shares covered thereby under
     any state or federal  law, or the  consent or approval of any  governmental
     regulatory body, is necessary as a condition of, or in connection with, the
     granting of such Option or the purchase or vesting of shares thereunder, or
     that action by the Company or by the  Optionee  should be taken in order to
     obtain an  exemption  from any such  requirement,  no such  Options  may be
     exercised , in whole or in part, sale, unless and until such  registration,
     qualification,  consent,  approval,  or action  shall  have been  effected,
     obtained or taken under conditions acceptable to the Administrator. Without
     limiting the generality of the foregoing, each Optionee or his or her legal
     representative  or  beneficiary  may also be required to give  satisfactory
     assurance  that  shares  purchased  upon  exercise  of an Option  are being
     purchased  for  investment  and  not  with  a  view  to  distribution,  and
     certificates representing such shares may be legended accordingly.

(k)  Governing  Law. The Plan shall by construed in accordance  with the laws of
     the State of Massachusetts  and all applicable  federal law. The securities
     issued  hereunder shall be governed by and in accordance with the Corporate
     Securities Laws of the State of Massachusetts.

ADOPTED BY INVESTORS CAPITAL  HOLDINGS,  LTD.'S BOARD OF DIRECTORS AS OF MAY 17,
2005.

                                       30

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]