Document:

Retirement Agreement

 
EXHIBIT 10.20

 
RETIREMENT AGREEMENT 
 
This Retirement Agreement (this “Agreement”) by and
between IVAX Corporation, a Florida corporation (“IVAX”), Norton Healthcare Limited (“Norton Healthcare”) and Isaac Kaye (the “Executive”), is dated as of May 8, 2003. 
 
WHEREAS, the Executive has been employed by IVAX as its Deputy
Chief Executive Officer and by Norton Healthcare as its Chairman and Chief Executive Officer pursuant to an Employment Agreement between IVAX, Norton Healthcare and the Executive dated as of November 28, 1997 (the “Employment Agreement”);

 
WHEREAS, IVAX, Norton Healthcare and the
Executive have mutually agreed that the Executive will hereafter retire from his employment, and they wish to set forth their mutual agreement as to the terms and conditions of such retirement; 
 
NOW, THEREFORE, IVAX, Norton Healthcare and the Executive
hereby agree as follows: 
 
1. Retirement.
Effective at the conclusion of IVAX’ 2003 annual meeting of shareholders (the “Retirement Date”), the Executive shall retire from his employment with IVAX and Norton Healthcare, from his position as a member of the Board of IVAX and
Norton Healthcare, and from all other positions the Executive may then hold as an officer or member of the board of directors of any of IVAX’ subsidiaries or affiliates. 
 
2. Severance Payments. On or as soon as practicable after the Retirement Date, and in any event not
later than 30 days thereafter, Norton Healthcare shall pay to the Executive the sum of $1,500,000. The Executive hereby waives any other payments and benefits he would have been entitled to receive from IVAX, Norton Healthcare or any of their
subsidiaries or affiliates under the Employment Agreement or otherwise by virtue of his retirement. Except as set forth in this Agreement and any Stock Option Agreements between IVAX and the Executive, Executive acknowledges and agrees that he is
not entitled to any other compensation payments of any kind, monetary or non-monetary benefits or perquisites with respect to his prior relationship (as an officer, employee and director) with IVAX, Norton Healthcare or any of their subsidiaries or
affiliates. 
 
3. Stock Options and Other Equity
Awards. All of the Executive’s outstanding options that are vested as of the Retirement Date shall be treated in accordance with their terms, taking into account the Executive’s retirement on the Retirement Date. 
 
4. Retention of Vested Benefits. Executive shall be
permitted to retain all benefits vested or earned as of the Retirement Date in all savings, incentive and retirement plans of Norton Healthcare; it being understood that Executive shall not be entitled to participate in such plans after the
Retirement Date and that no further vesting of benefits or interests in such plans by Executive shall occur from and after the Retirement Date. 

 
5. Mutual
Nondisparagement. (a) The Executive shall not make, participate in the making of, or encourage any other person to make, any statements, written or oral, which criticize, disparage, or defame the goodwill or reputation of, or which are intended
to embarrass or adversely affect the morale of, IVAX, Norton Healthcare, any of their subsidiaries or affiliates, or any of, their respective present, former or future directors, officers, executives, employees and/or shareholders. 
 
(b) Neither IVAX nor Norton Healthcare nor any of their
subsidiaries or affiliates shall make, participate in the making of, or encourage any employees or any other person to make, any statements, written or oral, which criticize, disparage, or defame the reputation of, or which are intended to
embarrass, the Executive. 
 
(c) Notwithstanding
the foregoing, nothing in this Section 5 shall prohibit any person from making truthful statements when required by order of a court or other body having jurisdiction, or as otherwise may be required by law or legal process. 
 
6. Surviving Provisions of the Employment Agreement.
From the date hereof through the Retirement Date, the following provisions of the Employment Agreement shall continue to apply: Sections 2 and 3 (dealing with the Executive’s compensation and benefits during his continued employment); PROVIDED,
that notwithstanding the foregoing, (i) after the date hereof, the Executive shall not be entitled to or be paid any bonuses (whether annual bonuses for 2002 or 2003 or otherwise) nor granted any additional stock options or other equity or long-term
cash awards and (ii) Executive’s Base Salary shall be payable through June 30, 2003. From and after the date hereof, the Executive shall remain bound by, and he hereby agrees to comply with, the provision of Section 5 of the Employment
Agreement, including his confidentiality obligations under the Confidentiality Agreement he signed with IVAX and/or Norton Healthcare. 
 
7. Indemnification. This Agreement does not supersede the indemnification provisions contained in IVAX’ Articles of
Incorporation, and the Executive shall remain entitled to the protections of such provisions to the fullest extent permitted by applicable law. 
 
8. Cooperation. The Executive agrees to cooperate with and make himself reasonably available to IVAX and Norton Healthcare in any
pending or future governmental or regulatory investigation or proceeding, subject to any privileges that the Executive may have. IVAX or Norton Healthcare, as applicable, will reimburse the Executive for all reasonable costs and expenses that he
incurs in connection with any such investigation or proceeding. 
 
9. Company Property. On or before the Retirement Date, the Executive will return to Norton Healthcare any and all assets or property of IVAX, Norton Healthcare or any of their subsidiaries or affiliates which have come into
his possession or control. 
 
10. Entire
Agreement. This Agreement sets forth the entire agreement of IVAX, Norton Healthcare and the Executive with respect to the subject matter hereof, and supersedes the Employment Agreement in its entirety except as specifically provided herein.

 
11. Successors. (a) This Agreement is
personal to the Executive and without the prior written consent of IVAX and Norton Healthcare shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and
be enforceable by the Executive’s legal representatives. 

 
(b) This
Agreement shall inure to the benefit of and be binding upon IVAX, Norton Healthcare and their successors. 
 
12. Miscellaneous. (a) This Agreement shall be governed by and construed in accordance with the laws of the State of Florida,
without reference to principles of conflict of laws. The captions of this Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended, modified, repealed, waived, extended or discharged except
by an agreement in writing signed by the party against who enforcement of such amendment, modification, repeal, waiver, extension or discharge is sought. No person, other than pursuant to a resolution of the Board of Directors of IVAX or a Committee
thereof, shall have authority on behalf of IVAX or Norton Healthcare to agree to amend, modify, repeal, waive, extend or discharge any provision of this Agreement or anything in reference thereto. 
 
(b) All notices and other communications hereunder shall be in
writing; shall be delivered by hand delivery to the other party or mailed by registered or certified mail, return receipt requested, postage prepaid; shall be deemed delivered upon actual receipt; and shall be addressed as follows: 
 
if to the Executive: 
 
Isaac Kaye 
 
if to IVAX or Norton Healthcare: 
 
IVAX Corporation 
4400 Biscayne Boulevard 
Miami, Florida (USA) 33137 
Attention: General Counsel

 
or to such other address as either party shall have furnished to
the other in writing in accordance herewith. 
 
(c)
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 
 
(d) The Severance payment and other amounts, if any, to be paid to the Executive pursuant to this Agreement shall be paid in British
Pounds Sterling. To determine the amount of British Pounds Sterling of any payment designated in United States Dollars under this Agreement, the exchange rate quoted in the Wall Street Journal on the date immediately preceding the date the payment
is required to be made shall be used. 
 
IN WITNESS
WHEREOF, each of the parties hereto has duly executed this Agreement as of the date first set forth above. 

 
 

	 THE EXECUTIVE

	
	

	 Isaac Kaye

	
	 IVAX CORPORATION

	
	

	
	 NORTON HEALTHCARE
LIMITED<PAGE>
                                                                   Exhibit 10.71

                                 EXACTECH, INC.

                              AMENDED AND RESTATED

                   2003 EXECUTIVE INCENTIVE COMPENSATION PLAN

                          (effective as of May 2, 2003)

<PAGE>

                                 EXACTECH, INC.

                              AMENDED AND RESTATED

                   2003 EXECUTIVE INCENTIVE COMPENSATION PLAN

                          (effective as of May 2, 2003)
<TABLE>
<CAPTION>

<S>                                                                                         <C>
1.  Purpose ..................................................................................1
2.  Definitions ..............................................................................1
3.  Administration ...........................................................................5
    (a)    Authority of the Committee ........................................................5
    (b)    Manner of Exercise of Committee Authority .........................................5
    (c)    Limitation of Liability ...........................................................6
4.  Stock Subject to Plan ....................................................................6
    (a)    Limitation on Overall Number of Shares Subject to Awards ..........................6
    (b)    Application of Limitations ........................................................6
5.  Eligibility; Per-Person Award Limitations ................................................7
6.  Specific Terms of Awards .................................................................7
    (a)    General ...........................................................................7
    (b)    Options ...........................................................................7
    (c)    Stock Appreciation Rights .........................................................9
    (d)    Restricted Stock .................................................................10
    (e)    Deferred Stock ...................................................................11
    (f)    Bonus Stock and Awards in Lieu of Obligations ....................................12
    (g)    Dividend Equivalents .............................................................12
    (h)    Other Stock-Based Awards .........................................................12
7.  Certain Provisions Applicable to Awards .................................................13
    (a)    Stand-Alone, Additional, Tandem, and Substitute Awards ...........................13
    (b)    Term of Awards ...................................................................13
    (c)    Form and Timing of Payment Under Awards; Deferrals ...............................13
    (d)    Exemptions from Section 16(b) Liability ..........................................13
8.  Performance and Annual Incentive Awards .................................................14
    (a)    Performance Conditions ...........................................................14
    (b)    Performance Awards Granted to Designated Covered Employees .......................14
    (c)    Annual Incentive Awards Granted to Designated Covered Employees ..................15
    (d)    Written Determinations ...........................................................16
    (e)    Status of Section 8(b) and Section 8(c) Awards Under Code Section 162(m) .........17
9.  Change in Control .......................................................................17
    (a)    Effect of "Change in Control." ...................................................17
    (b)    Definition of "Change in Control .................................................18
    (c)    Definition of "Change in Control Price." .........................................18
10. General Provisions ......................................................................19
    (a)    Compliance With Legal and Other Requirements .....................................19
</TABLE>

<PAGE>
<TABLE>
<CAPTION>

<S>                                                                                         <C>
    (b)    Limits on Transferability; Beneficiaries .........................................19
    (c)    Adjustments ......................................................................19
    (d)    Taxes ............................................................................21
    (e)    Changes to the Plan and Awards ...................................................21
    (f)    Limitation on Rights Conferred Under Plan ........................................21
    (g)    Unfunded Status of Awards; Creation of Trusts ....................................22
    (h)    Nonexclusivity of the Plan .......................................................22
    (i)    Payments in the Event of Forfeitures; Fractional Shares ..........................22
    (j)    Governing Law ....................................................................22
    (k)    Plan Effective Date and Stockholder Approval; Termination of Plan ................22
</TABLE>

<PAGE>

                                 EXACTECH, INC.

                              AMENDED AND RESTATED

                   2003 EXECUTIVE INCENTIVE COMPENSATION PLAN

                          (effective as of May 2, 2003)

     1. Purpose. The purpose of this AMENDED AND RESTATED 2003 EXECUTIVE
INCENTIVE COMPENSATION PLAN (the "Plan") is to assist Exactech, Inc., a Florida
corporation (the "Company"), and its Related Entities in attracting, motivating,
retaining and rewarding high-quality executives and other Employees, officers,
Directors, and Consultants by enabling such persons to acquire or increase a
proprietary interest in the Company in order to strengthen the mutuality of
interests between such persons and the Company's stockholders, and providing
such persons with annual and long term performance incentives to expend their
maximum efforts in the creation of shareholder value. In the event that the
Company is or becomes a Publicly Held Corporation (as hereinafter defined), the
Plan is intended to qualify certain compensation awarded under the Plan for tax
deductibility under Section 162(m) of the Code (as hereafter defined) to the
extent deemed appropriate by the Committee (or any successor committee) of the
Board of Directors of the Company.

     2. Definitions. For purposes of the Plan, the following terms shall be
defined as set forth below, in addition to such terms defined in Section 1
hereof.

         (a) "Annual Incentive Award" means a conditional right granted to a
Participant under Sections 8(a) and (c) hereof to receive a cash payment, Stock
or other Award, unless otherwise determined by the Committee, after the end of a
specified fiscal year.

         (b) "Award" means any Option, Stock Appreciation Right (including
Limited Stock Appreciation Right), Restricted Stock, Deferred Stock, Stock
granted as a bonus or in lieu of another award, Dividend Equivalent, Other
Stock-Based Award, Performance Award or Annual Incentive Award, together with
any other right or interest, granted to a Participant under the Plan.

         (c) "Beneficiary" means the person, persons, trust or trusts which have
been designated by a Participant in his or her most recent written beneficiary
designation filed with the Committee to receive the benefits specified under the
Plan upon such Participant's death or to which Awards or other rights are
transferred if and to the extent permitted under Section 10(b) hereof. If, upon
a Participant's death, there is no designated Beneficiary or surviving
designated Beneficiary, then the term Beneficiary means the person, persons,
trust or trusts entitled by will or the laws of descent and distribution to
receive such benefits.

         (d) "Beneficial Owner", "Beneficially Owning" and "Beneficial
Ownership" shall have the meanings ascribed to such terms in Rule 13d-3 under
the Exchange Act and any successor to such Rule.

<PAGE>

         (e) "Board" means the Company's Board of Directors.

         (f) "Cause" shall, with respect to any Participant, have the equivalent
meaning (or the same meaning as "cause" or "for cause") set forth in any
employment agreement between the Participant and the Company or a Related Entity
or, in the absence of any such agreement, such term shall mean (i) the failure
by the Participant to perform his or her duties as assigned by the Company (or a
Related Entity) in a reasonable manner, (ii) any violation or breach by the
Participant of his or her employment agreement with the Company (or a Related
Entity), if any, (iii) any violation or breach by the Participant of his or her
non-competition and/or non-disclosure agreement with the Company (or a Related
Entity), if any, (iv) any act by the Participant of dishonesty or bad faith with
respect to the Company (or a Related Entity), (v) chronic addiction to alcohol,
drugs or other similar substances affecting the Participant's work performance,
or (vi) the commission by the Participant of any act, misdemeanor, or crime
reflecting unfavorably upon the Participant or the Company. The good faith
determination by the Committee of whether the Participant's Continuous Service
was terminated by the Company for "Cause" shall be final and binding for all
purposes hereunder.

         (g) "Change in Control" means a Change in Control as defined with
related terms in Section 9 of the Plan.

         (h) "Change in Control Price" means the amount calculated in accordance
with Section 9(c) of the Plan.

         (i) "Code" means the Internal Revenue Code of 1986, as amended from
time to time, including regulations thereunder and successor provisions and
regulations thereto.

         (j) "Committee" means a committee designated by the Board to administer
the Plan; provided, however, that the Committee shall consist of at least two
directors, and, in the event the Company is or becomes a Publicly Held
Corporation (as hereinafter defined), each member of which shall be (i) a
"non-employee director" within the meaning of Rule 16b-3 under the Exchange Act,
unless administration of the Plan by "non-employee directors" is not then
required in order for exemptions under Rule 16b-3 to apply to transactions under
the Plan, and (ii) an "outside director" within the meaning of Section 162(m) of
the Code, unless administration of the Plan by "outside directors" is not then
required in order to qualify for tax deductibility under Section 162(m) of the
Code.

         (k) "Consultant" means any person (other than an Employee or a
Director, solely with respect to rendering services in such person's capacity as
a director) who is engaged by the Company or any Related Entity to render
consulting or advisory services to the Company or such Related Entity.

         (l) "Continuous Service" means uninterrupted provision of services to
the Company in any capacity of Employee, Director, or Consultant. Continuous
Service shall not be considered to be interrupted in the case of (i) any
approved leave of absence, (ii) transfers among the Company, any Related
Entities, or any successor entities, in any capacity of Employee Director, or
Consultant, or (iii) any change in status as long as the individual remains in
the service of the Company or a Related Entity in any capacity of Employee,
Director, or Consultant

                                       2

<PAGE>

(except as otherwise provided in the Option Agreement). An approved leave of
absence shall include sick leave, military leave, or any other authorized
personal leave.

         (m) "Corporate Transaction" means a Corporate Transaction as defined in
Section 9(b)(i) of the Plan.

         (n) "Covered Employee" means an Eligible Person who is a Covered
Employee as specified in Section 8(e) of the Plan.

         (o) "Deferred Stock" means a right, granted to a Participant under
Section 6(e) hereof, to receive Stock, cash or a combination thereof at the end
of a specified deferral period.

         (p) "Director" means a member of the Board or the board of directors of
any Related Entity.

         (q) "Disability" means a permanent and total disability (within the
meaning of Section 22(e) of the Code), as determined by a medical doctor
satisfactory to the Committee.

         (r) "Dividend Equivalent" means a right, granted to a Participant under
Section 6(g) hereof, to receive cash, Stock, other Awards or other property
equal in value to dividends paid with respect to a specified number of shares of
Stock, or other periodic payments.

         (s) "Effective Date" means the initial effective date of the Plan,
which shall be February 19, 2003.

         (t) "Eligible Person" means each Executive Officer of the Company (as
defined under the Exchange Act) and other officers, Directors and Employees of
the Company or of any Related Entity, and Consultants with the Company or any
Related Entity. The foregoing notwithstanding, only employees of the Company,
the Parent, or any Subsidiary shall be Eligible Persons for purposes of
receiving any Incentive Stock Options. An Employee on leave of absence may be
considered as still in the employ of the Company or a Related Entity for
purposes of eligibility for participation in the Plan.

         (u) "Employee" means any person, including an officer or Director, who
is an employee of the Company or any Related Entity. The Payment of a director's
fee by the Company or a Related Entity shall not be sufficient to constitute
"employment" by the Company.

         (v) "Exchange Act" means the Securities Exchange Act of 1934, as
amended from time to time, including rules thereunder and successor provisions
and rules thereto.

         (w) "Executive Officer" means an executive officer of the Company as
defined under the Exchange Act.

         (x) "Fair Market Value" means the fair market value of Stock, Awards or
other property as determined by the Committee or the Board, or under procedures
established by the Committee or the Board. Unless otherwise determined by the
Committee or the Board, the Fair Market Value of Stock as of any given date
after which the Company is a Publicly Held

                                       3

<PAGE>

Corporation shall be the closing sale price per share reported on a consolidated
basis for stock listed on the principal stock exchange or market on which Stock
is traded on the date as of which such value is being determined or, if there is
no sale on that date, then on the last previous day on which a sale was
reported.

         (y) "Incentive Stock Option" means any Option intended to be designated
as an incentive stock option within the meaning of Section 422 of the Code or
any successor provision thereto.

         (z) "Incumbent Board" means the Incumbent Board as defined in Section
9(b)(ii) of the Plan.

         (aa) "Limited Stock Appreciation Right" means a right granted to a
Participant under Section 6(c) hereof.

         (bb) "Option" means a right granted to a Participant under Section 6(b)
hereof, to purchase Stock or other Awards at a specified price during specified
time periods.

         (cc) "Optionee" means a person to whom an Option or Incentive Stock
Option is granted under this Plan or any person who succeeds to the rights of
such person under this Plan.

         (dd) "Other Stock-Based Awards" means Awards granted to a Participant
under Section 6(h) hereof.

         (ee) "Parent" means a "parent corporation," whether now or hereafter
existing, as defined in Section 424(e) of the Code.

         (ff) "Participant" means a person who has been granted an Award under
the Plan which remains outstanding, including a person who is no longer an
Eligible Person.

         (gg) "Performance Award" means a right, granted to an Eligible Person
under Sections 8(a) and (b) hereof, to receive Awards based upon performance
criteria specified by the Committee or the Board.

         (hh) "Person" shall have the meaning ascribed to such term in Section
3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, and
shall include a "group" as defined in Section 13(d) thereof.

         (ii) "Preexisting Plan" shall mean collectively the Exactech, Inc.
Employee Stock Option and Incentive Plan and the Exactech, Inc. Director's Stock
Option Plan.

         (jj) "Publicly Held Corporation" shall mean a publicly held corporation
as that term is used under Section 162(m)(2) of the Code.

         (kk) "Restricted Stock" means Stock granted to a Participant under
Section 6(d) hereof, that is subject to certain restrictions and to a risk of
forfeiture.
                                       4

<PAGE>

         (ll) "Rule 16b-3" and "Rule 16a-1(c)(3)" means Rule 16b-3 and Rule
16a-1(c)(3), as from time to time in effect and applicable to the Plan and
Participants, promulgated by the Securities and Exchange Commission under
Section 16 of the Exchange Act.

         (mm) "Stock" means the Company's Common Stock, and such other
securities as may be substituted (or resubstituted) for Stock pursuant to
Section 10(c) hereof.

         (nn) "Stock Appreciation Right" means a right granted to a Participant
under Section 6(c) hereof.

         (oo) "Subsidiary" means a "subsidiary corporation" whether now or
hereafter existing, as defined in Section 424(f) of the Code.

     3. Administration.

         (a) Authority of the Committee. The Plan shall be administered by the
Committee; provided, however, that except as otherwise expressly provided in
this Plan or, during the period that the Company is a Publicly Held Corporation,
in order to comply with Code Section 162(m) or Rule 16b-3 under the Exchange
Act, the Board may exercise any power or authority granted to the Committee
under this Plan. The Committee or the Board shall have full and final authority,
in each case subject to and consistent with the provisions of the Plan, to
select Eligible Persons to become Participants, grant Awards, determine the
type, number and other terms and conditions of, and all other matters relating
to, Awards, prescribe Award agreements (which need not be identical for each
Participant) and rules and regulations for the administration of the Plan,
construe and interpret the Plan and Award agreements and correct defects, supply
omissions or reconcile inconsistencies therein, and to make all other decisions
and determinations as the Committee or the Board may deem necessary or advisable
for the administration of the Plan. In exercising any discretion granted to the
Committee or the Board under the Plan or pursuant to any Award, the Committee or
the Board shall not be required to follow past practices, act in a manner
consistent with past practices, or treat any Eligible Person in a manner
consistent with the treatment of other Eligible Persons.

         (b) Manner of Exercise of Committee Authority. In the event that the
Company is or becomes a Publicly Held Corporation, the Committee, and not the
Board, shall exercise sole and exclusive discretion on any matter relating to a
Participant then subject to Section 16 of the Exchange Act with respect to the
Company to the extent necessary in order that transactions by such Participant
shall be exempt under Rule 16b-3 under the Exchange Act. Any action of the
Committee or the Board shall be final, conclusive and binding on all persons,
including the Company, its Related Entities, Participants, Beneficiaries,
transferees under Section 10(b) hereof or other persons claiming rights from or
through a Participant, and stockholders. The express grant of any specific power
to the Committee or the Board, and the taking of any action by the Committee or
the Board, shall not be construed as limiting any power or authority of the
Committee or the Board. The Committee or the Board may delegate to officers or
managers of the Company or any Related Entity, or committees thereof, the
authority, subject to such terms as the Committee or the Board shall determine,
(i) to perform administrative functions, (ii) with respect to Participants not
subject to Section 16 of the Exchange Act, to perform such other functions as
the Committee or the Board may determine,

                                       5

<PAGE>

and (iii) with respect to Participants subject to Section 16, to perform such
other functions of the Committee or the Board as the Committee or the Board may
determine to the extent performance of such functions will not result in the
loss of an exemption under Rule 16b-3 otherwise available for transactions by
such persons, in each case to the extent permitted under applicable law and
subject to the requirements set forth in Section 8(d). The Committee or the
Board may appoint agents to assist it in administering the Plan.

         (c) Limitation on Awards to Non-Employee Directors. Notwithstanding any
other provision of the Plan, effective May 2, 2003, except as provided in
Section 6(b)(v), a Non-Employee Director may be granted Awards only upon the
approval of the Board, with the Non-Employee Director abstaining.

         (d) Limitation of Liability. The Committee and the Board, and each
member thereof, shall be entitled to, in good faith, rely or act upon any report
or other information furnished to him or her by any Executive Officer, other
officer or Employee, the Company's independent auditors, Consultants or any
other agents assisting in the administration of the Plan. Members of the
Committee and the Board, and any officer or Employee acting at the direction or
on behalf of the Committee or the Board, shall not be personally liable for any
action or determination taken or made in good faith with respect to the Plan,
and shall, to the extent permitted by law, be fully indemnified and protected by
the Company with respect to any such action or determination.

     4. Stock Subject to Plan.

         (a) Limitation on Overall Number of Shares Subject to Awards. Subject
to adjustment as provided in Section 10(c) hereof, the total number of shares of
Stock reserved and available for delivery in connection with Awards under the
Plan shall be the sum of (i) 1,000,000, plus (ii) the number of shares with
respect to Awards previously granted under the Preexisting Plan that terminate
without being exercised, expire, are forfeited or canceled, plus (iii) the
number of shares that remain available for future issuance under the Preexisting
Plan, plus (iv) the number of shares that are surrendered in payment of any
Awards or any tax withholding with regard thereto. If any Award granted under
the Plan shall terminate, expire or be canceled or surrendered as to any shares
of Stock, new Awards may thereafter be granted covering such shares. Any shares
of Stock delivered under the Plan may consist, in whole or in part, of
authorized and unissued shares or treasury shares. Subject to adjustment as
provided in Section 10(c) hereof, the number of shares of Stock which may be
issued pursuant to Incentive Stock Options shall not exceed 1,000,000 shares.

         (b) Application of Limitations. The limitation contained in Section
4(a) shall apply not only to Awards that are settleable by the delivery of
shares of Stock but also to Awards relating to shares of Stock but settleable
only in cash (such as cash-only Stock Appreciation Rights). The Committee or the
Board may adopt reasonable counting procedures to ensure appropriate counting,
avoid double counting (as, for example, in the case of tandem or substitute
awards) and make adjustments if the number of shares of Stock actually delivered
differs from the number of shares previously counted in connection with an
Award.

                                       6

<PAGE>

     5. Eligibility; Per-Person Award Limitations. Awards may be granted under
the Plan only to Eligible Persons. In each fiscal year during any part of which
the Plan is in effect, an Eligible Person may not be granted Awards relating to
more than 250,000 shares of Stock, subject to adjustment as provided in Section
10(c), under each of Sections 6(b), 6(c), 6(d), 6(e), 6(f), 6(g), 6(h), 8(b) and
8(c). In addition, the maximum amount that may be earned as an Annual Incentive
Award or other cash Award in any fiscal year by any one Participant shall be
$1,000,000, and the maximum amount that may be earned as a Performance Award or
other cash Award in respect of a performance period by any one Participant shall
be $5,000,000.

     6. Specific Terms of Awards.

         (a) General. Awards may be granted on the terms and conditions set
forth in this Section 6. In addition, the Committee or the Board may impose on
any Award or the exercise thereof, at the date of grant or thereafter (subject
to Section 10(e)), such additional terms and conditions, not inconsistent with
the provisions of the Plan, as the Committee or the Board shall determine,
including terms requiring forfeiture of Awards in the event of termination of
Continuous Service by the Participant and terms permitting a Participant to make
elections relating to his or her Award. The Committee or the Board shall retain
full power and discretion to accelerate, waive or modify, at any time, any term
or condition of an Award that is not mandatory under the Plan. Except in cases
in which the Committee or the Board is authorized to require other forms of
consideration under the Plan, or to the extent other forms of consideration must
be paid to satisfy the requirements of Florida law, no consideration other than
services may be required for the grant (but not the exercise) of any Award.

         (b) Options. The Committee and the Board each is authorized to grant
Options to Participants on the following terms and conditions:

              (i) Exercise Price. The exercise price per share of Stock
         purchasable under an Option shall be determined by the Committee or the
         Board, provided that such exercise price shall not, in the case of
         Incentive Stock Options, be less than 100% of the Fair Market Value of
         the Stock on the date of grant of the Option and shall not, in any
         event, be less than the par value of a share of Stock on the date of
         grant of such Option. If an employee owns or is deemed to own (by
         reason of the attribution rules applicable under Section 424(d) of the
         Code) more than 10% of the combined voting power of all classes of
         stock of the Company or any Parent Corporation or Subsidiary and an
         Incentive Stock Option is granted to such employee, the option price of
         such Incentive Stock Option (to the extent required by the Code at the
         time of grant) shall be no less than 110% of the Fair Market Value of
         the Stock on the date such Incentive Stock Option is granted.

              (ii) Time and Method of Exercise. The Committee or the Board shall
         determine the time or times at which or the circumstances under which
         an Option may be exercised in whole or in part (including based on
         achievement of performance goals and/or future service requirements),
         the time or times at which Options shall cease to be or become
         exercisable following termination of Continuous Service or upon other
         conditions, the methods by which such exercise

                                       7

<PAGE>

         price may be paid or deemed to be paid (including in the discretion of
         the Committee or the Board a cashless exercise procedure), the form of
         such payment, including, without limitation, cash, Stock, other Awards
         or awards granted under other plans of the Company or a Related Entity,
         or other property (including notes or other contractual obligations of
         Participants to make payment on a deferred basis), and the methods by
         or forms in which Stock will be delivered or deemed to be delivered to
         Participants.

              (iii) Incentive Stock Options. The terms of any Incentive Stock
         Option granted under the Plan shall comply in all respects with the
         provisions of Section 422 of the Code. Anything in the Plan to the
         contrary notwithstanding, no term of the Plan relating to Incentive
         Stock Options (including any Stock Appreciation Right in tandem
         therewith) shall be interpreted, amended or altered, nor shall any
         discretion or authority granted under the Plan be exercised, so as to
         disqualify either the Plan or any Incentive Stock Option under Section
         422 of the Code, unless the Participant has first requested the change
         that will result in such disqualification. Thus, if and to the extent
         required to comply with Section 422 of the Code, Options granted as
         Incentive Stock Options shall be subject to the following special terms
         and conditions:

                    (A) the Option shall not be exercisable more than ten years
         after the date such Incentive Stock Option is granted; provided,
         however, that if a Participant owns or is deemed to own (by reason of
         the attribution rules of Section 424(d) of the Code) more than 10% of
         the combined voting power of all classes of stock of the Company or any
         Parent Corporation and the Incentive Stock Option is granted to such
         Participant, the term of the Incentive Stock Option shall be (to the
         extent required by the Code at the time of the grant) for no more than
         five years from the date of grant; and

                    (B) The aggregate Fair Market Value (determined as of the
         date the Incentive Stock Option is granted) of the shares of stock with
         respect to which Incentive Stock Options granted under the Plan and all
         other option plans of the Company or its Parent Corporation during any
         calendar year exercisable for the first time by the Participant during
         any calendar year shall not (to the extent required by the Code at the
         time of the grant) exceed $100,000.

              (iv) Repurchase Rights. The Committee and the Board shall have the
         discretion to grant Options which are exercisable for unvested shares
         of Common Stock. Should the Optionee's Continuous Service cease while
         holding such unvested shares, the Company shall have the right to
         repurchase, at the exercise price paid per share, any or all of those
         unvested shares. The terms upon which such repurchase right shall be
         exercisable (including the period and procedure for exercise and the
         appropriate vesting schedule for the purchased shares) shall be
         established by the Committee or the Board and set forth in the document
         evidencing such repurchase right.

                                       8

<PAGE>

              (v) Automatic Option Grants to Non-Employee Directors. Effective
         as of May 2, 2003, Non-Employee Directors shall be eligible to receive
         Option Awards only under this Section 6(b)(v).

                    (A) Initial Grants. On the date that an eligible
         Non-Employee Director is first elected to the Board, such Non-Employee
         Director shall receive an Option to purchase 5,000 shares of Stock (an
         "Initial Grant"). The Initial Grant shall be subject to the
         availability and adjustment of shares of Stock issuable under the Plan
         pursuant to Section 4 and shall not be subject to the discretion of any
         person or persons.

                    (B) Additional Grants. During the term of the Plan, a
         Non-Employee Director may be granted additional Options, subject to the
         approval by the Board, with the Non-Employee Director abstaining, and
         subject to the availability and adjustment of shares of Stock issuable
         under the Plan pursuant to Section 4.

                    (C) Terms of Initial Grants and Additional Grants. Upon the
         grant of each Option pursuant to this Section 6(b)(v), the Company and
         the Non-Employee Director shall enter into an Option Agreement, which
         shall specify the grant date and the exercise price and shall include
         or incorporate by reference the substance of this Plan and such other
         provisions consistent with this Plan as the Committee or the Board may
         determine.

         (c) Stock Appreciation Rights. The Committee and the Board each is
authorized to grant Stock Appreciation Right's to Participants on the following
terms and conditions:

              (i) Right to Payment. A Stock Appreciation Right shall confer on
         the Participant to whom it is granted a right to receive, upon exercise
         thereof, the excess of (A) the Fair Market Value of one share of stock
         on the date of exercise (or, in the case of a "Limited Stock
         Appreciation Right" that may be exercised only in the event of a Change
         in Control, the Fair Market Value determined by reference to the Change
         in Control Price, as defined under Section 9(c) hereof), over (B) the
         grant price of the Stock Appreciation Right as determined by the
         Committee or the Board. The grant price of a Stock Appreciation Right
         shall not be less than the Fair Market Value of a share of Stock on the
         date of grant except as provided under Section 7(a) hereof.

              (ii) Other Terms. The Committee or the Board shall determine at
         the date of grant or thereafter, the time or times at which and the
         circumstances under which a Stock Appreciation Right may be exercised
         in whole or in part (including based on achievement of performance
         goals and/or future service requirements), the time or times at which
         Stock Appreciation Rights shall cease to be or become exercisable
         following termination of Continuous Service or upon other conditions,
         the method of exercise, method of settlement, form of consideration
         payable in settlement, method by or forms in which Stock will be
         delivered or deemed to be

                                       9

<PAGE>

         delivered to Participants, whether or not a Stock Appreciation Right
         shall be in tandem or in combination with any other Award, and any
         other terms and conditions of any Stock Appreciation Right. Limited
         Stock Appreciation Rights that may only be exercised in connection with
         a Change in Control or other event as specified by the Committee or the
         Board, may be granted on such terms, not inconsistent with this Section
         6(c), as the Committee or the Board may determine. Stock Appreciation
         Rights and Limited Stock Appreciation Rights may be either freestanding
         or in tandem with other Awards.

         (d) Restricted Stock. The Committee and the Board each is authorized to
grant Restricted Stock to Participants on the following terms and conditions:

              (i) Grant and Restrictions. Restricted Stock shall be subject to
         such restrictions on transferability, risk of forfeiture and other
         restrictions, if any, as the Committee or the Board may impose, or as
         otherwise provided in this Plan. The restrictions may lapse separately
         or in combination at such times, under such circumstances (including
         based on achievement of performance goals and/or future service
         requirements), in such installments or otherwise, as the Committee or
         the Board may determine at the date of grant or thereafter. Except to
         the extent restricted under the terms of the Plan and any Award
         agreement relating to the Restricted Stock, a Participant granted
         Restricted Stock shall have all of the rights of a stockholder,
         including the right to vote the Restricted Stock and the right to
         receive dividends thereon (subject to any mandatory reinvestment or
         other requirement imposed by the Committee or the Board). During the
         restricted period applicable to the Restricted Stock, subject to
         Section 10(b) below, the Restricted Stock may not be sold, transferred,
         pledged, hypothecated, margined or otherwise encumbered by the
         Participant.

              (ii) Forfeiture. Except as otherwise determined by the Committee
         or the Board at the time of the Award, upon termination of a
         Participant's Continuous Service during the applicable restriction
         period, the Participant's Restricted Stock that is at that time subject
         to restrictions shall be forfeited and reacquired by the Company;
         provided that the Committee or the Board may provide, by rule or
         regulation or in any Award agreement, or may determine in any
         individual case, that restrictions or forfeiture conditions relating to
         Restricted Stock shall be waived in whole or in part in the event of
         terminations resulting from specified causes, and the Committee or the
         Board may in other cases waive in whole or in part the forfeiture of
         Restricted Stock.

              (iii) Certificates for Stock. Restricted Stock granted under the
         Plan may be evidenced in such manner as the Committee or the Board
         shall determine. If certificates representing Restricted Stock are
         registered in the name of the Participant, the Committee or the Board
         may require that such certificates bear an appropriate legend referring
         to the terms, conditions and restrictions applicable to such Restricted
         Stock, that the Company retain physical possession of the certificates,
         and that the Participant deliver a stock power to the Company, endorsed
         in blank, relating to the Restricted Stock.

                                       10

<PAGE>

              (iv) Dividends and Splits. As a condition to the grant of an Award
         of Restricted Stock, the Committee or the Board may require that any
         cash dividends paid on a share of Restricted Stock be automatically
         reinvested in additional shares of Restricted Stock or applied to the
         purchase of additional Awards under the Plan. Unless otherwise
         determined by the Committee or the Board, Stock distributed in
         connection with a Stock split or Stock dividend, and other property
         distributed as a dividend, shall be subject to restrictions and a risk
         of forfeiture to the same extent as the Restricted Stock with respect
         to which such Stock or other property has been distributed.

         (e) Deferred Stock. The Committee and the Board each is authorized to
grant Deferred Stock to Participants, which are rights to receive Stock, cash,
or a combination thereof at the end of a specified deferral period, subject to
the following terms and conditions:

              (i) Award and Restrictions. Satisfaction of an Award of Deferred
         Stock shall occur upon expiration of the deferral period specified for
         such Deferred Stock by the Committee or the Board (or, if permitted by
         the Committee or the Board, as elected by the Participant). In
         addition, Deferred Stock shall be subject to such restrictions (which
         may include a risk of forfeiture) as the Committee or the Board may
         impose, if any, which restrictions may lapse at the expiration of the
         deferral period or at earlier specified times (including based on
         achievement of performance goals and/or future service requirements),
         separately or in combination, in installments or otherwise, as the
         Committee or the Board may determine. Deferred Stock may be satisfied
         by delivery of Stock, cash equal to the Fair Market Value of the
         specified number of shares of Stock covered by the Deferred Stock, or a
         combination thereof, as determined by the Committee or the Board at the
         date of grant or thereafter. Prior to satisfaction of an Award of
         Deferred Stock, an Award of Deferred Stock carries no voting or
         dividend or other rights associated with share ownership.

              (ii) Forfeiture. Except as otherwise determined by the Committee
         or the Board, upon termination of a Participant's Continuous Service
         during the applicable deferral period thereof to which forfeiture
         conditions apply (as provided in the Award agreement evidencing the
         Deferred Stock), the Participant's Deferred Stock that is at that time
         subject to deferral (other than a deferral at the election of the
         Participant) shall be forfeited; provided that the Committee or the
         Board may provide, by rule or regulation or in any Award agreement, or
         may determine in any individual case, that restrictions or forfeiture
         conditions relating to Deferred Stock shall be waived in whole or in
         part in the event of terminations resulting from specified causes, and
         the Committee or the Board may in other cases waive in whole or in part
         the forfeiture of Deferred Stock.

              (iii) Dividend Equivalents. Unless otherwise determined by the
         Committee or the Board at date of grant, any Dividend Equivalents that
         are granted with respect to any Award of Deferred Stock shall be either
         (A) paid with respect to such Deferred Stock at the dividend payment
         date in cash or in shares

                                       11

<PAGE>

         of unrestricted Stock having a Fair Market Value equal to the amount of
         such dividends, or (B) deferred with respect to such Deferred Stock and
         the amount or value thereof automatically deemed reinvested in
         additional Deferred Stock, other Awards or other investment vehicles,
         as the Committee or the Board shall determine or permit the Participant
         to elect.

         (f) Bonus Stock and Awards in Lieu of Obligations. The Committee and
the Board each is authorized to grant Stock as a bonus, or to grant Stock or
other Awards in lieu of Company obligations to pay cash or deliver other
property under the Plan or under other plans or compensatory arrangements,
provided that, in the case of Participants subject to Section 16 of the Exchange
Act, the amount of such grants remains within the discretion of the Committee to
the extent necessary to ensure that acquisitions of Stock or other Awards are
exempt from liability under Section 16(b) of the Exchange Act. Stock or Awards
granted hereunder shall be subject to such other terms as shall be determined by
the Committee or the Board.

         (g) Dividend Equivalents. The Committee and the Board each is
authorized to grant Dividend Equivalents to a Participant entitling the
Participant to receive cash, Stock, other Awards, or other property equal in
value to dividends paid with respect to a specified number of shares of Stock,
or other periodic payments. Dividend Equivalents may be awarded on a
free-standing basis or in connection with another Award. The Committee or the
Board may provide that Dividend Equivalents shall be paid or distributed when
accrued or shall be deemed to have been reinvested in additional Stock, Awards,
or other investment vehicles, and subject to such restrictions on
transferability and risks of forfeiture, as the Committee or the Board may
specify.

         (h) Other Stock-Based Awards. The Committee and the Board each is
authorized, subject to limitations under applicable law, to grant to
Participants such other Awards that may be denominated or payable in, valued in
whole or in part by reference to, or otherwise based on, or related to, Stock,
as deemed by the Committee or the Board to be consistent with the purposes of
the Plan, including, without limitation, convertible or exchangeable debt
securities, other rights convertible or exchangeable into Stock, purchase rights
for Stock, Awards with value and payment contingent upon performance of the
Company or any other factors designated by the Committee or the Board, and
Awards valued by reference to the book value of Stock or the value of securities
of or the performance of specified Related Entities or business units. The
Committee or the Board shall determine the terms and conditions of such Awards.
Stock delivered pursuant to an Award in the nature of a purchase right granted
under this Section 6(h) shall be purchased for such consideration (including
without limitation loans from the Company or a Related Entity), paid for at such
times, by such methods, and in such forms, including, without limitation, cash,
Stock, other Awards or other property, as the Committee or the Board shall
determine. The Committee and the Board shall have the discretion to grant such
other Awards which are exercisable for unvested shares of Common Stock. Should
the Optionee's Continuous Service cease while holding such unvested shares, the
Company shall have the right to repurchase, at the exercise price paid per
share, any or all of those unvested shares. The terms upon which such repurchase
right shall be exercisable (including the period and procedure for exercise and
the appropriate vesting schedule for the purchased shares) shall be established
by the Committee or the Board and set forth in the document evidencing such
repurchase right. Cash awards, as an element of or supplement to any other Award
under the Plan, may also be granted pursuant to this Section 6(h).

                                       12

<PAGE>

     7. Certain Provisions Applicable to Awards.

         (a) Stand-Alone, Additional, Tandem, and Substitute Awards. Awards
granted under the Plan may, in the discretion of the Committee or the Board, be
granted either alone or in addition to, in tandem with, or in substitution or
exchange for, any other Award or any award granted under another plan of the
Company, any Related Entity, or any business entity to be acquired by the
Company or a Related Entity, or any other right of a Participant to receive
payment from the Company or any Related Entity. Such additional, tandem, and
substitute or exchange Awards may be granted at any time. If an Award is granted
in substitution or exchange for another Award or award, the Committee or the
Board shall require the surrender of such other Award or award in consideration
for the grant of the new Award. In addition, Awards may be granted in lieu of
cash compensation, including in lieu of cash amounts payable under other plans
of the Company or any Related Entity, in which the value of Stock subject to the
Award is equivalent in value to the cash compensation (for example, Deferred
Stock or Restricted Stock), or in which the exercise price, grant price or
purchase price of the Award in the nature of a right that may be exercised is
equal to the Fair Market Value of the underlying Stock minus the value of the
cash compensation surrendered (for example, Options granted with an exercise
price "discounted" by the amount of the cash compensation surrendered).

         (b) Term of Awards. The term of each Award shall be for such period as
may be determined by the Committee or the Board; provided that in no event shall
the term of any Option or Stock Appreciation Right exceed a period of ten years
(or such shorter term as may be required in respect of an Incentive Stock Option
under Section 422 of the Code).

         (c) Form and Timing of Payment Under Awards; Deferrals. Subject to the
terms of the Plan and any applicable Award agreement, payments to be made to the
Company or a Related Entity upon the exercise of an Option or other Award or
settlement of an Award may be made in such forms as the Committee or the Board
shall determine, including, without limitation, cash, other Awards or other
property, and may be made in a single payment or transfer, in installments, or
on a deferred basis. The settlement of any Award may be accelerated, and cash
paid in lieu of Stock in connection with such settlement, in the discretion of
the Committee or the Board or upon occurrence of one or more specified events
(in addition to a Change in Control). Installment or deferred payments may be
required by the Committee or the Board (subject to Section 10(e) of the Plan) or
permitted at the election of the Participant on terms and conditions established
by the Committee or the Board. Payments may include, without limitation,
provisions for the payment or crediting of a reasonable interest rate on
installment or deferred payments or the grant or crediting of Dividend
Equivalents or other amounts in respect of installment or deferred payments
denominated in Stock.

         (d) Exemptions from Section 16(b) Liability. If and to the extent that
the Company is or becomes a Publicly Held Corporation, it is the intent of the
Company that this Plan comply in all respects with applicable provisions of Rule
16b-3 or Rule 16a-1(c)(3) to the extent necessary to ensure that neither the
grant of any Awards to nor other transaction by a Participant who is subject to
Section 16 of the Exchange Act is subject to liability under Section 16(b)
thereof (except for transactions acknowledged in writing to be non-exempt by
such Participant). Accordingly, if any provision of this Plan or any Award
agreement does not comply with the requirements of Rule 16b-3 or Rule
16a-1(c)(3) as then applicable to any such

                                       13

<PAGE>

transaction, such provision will be construed or deemed amended to the extent
necessary to conform to the applicable requirements of Rule 16b-3 or Rule
16a-1(c)(3) so that such Participant shall avoid liability under Section 16(b).
In addition, the purchase price of any Award conferring a right to purchase
Stock shall be not less than any specified percentage of the Fair Market Value
of Stock at the date of grant of the Award then required in order to comply with
Rule 16b-3.

     8. Performance and Annual Incentive Awards.

         (a) Performance Conditions. The right of a Participant to exercise or
receive a grant or settlement of any Award, and the timing thereof, may be
subject to such performance conditions as may be specified by the Committee or
the Board. The Committee or the Board may use such business criteria and other
measures of performance as it may deem appropriate in establishing any
performance conditions, and may exercise its discretion to reduce the amounts
payable under any Award subject to performance conditions, except as limited
under Sections 8(b) and 8(c) hereof in the case of a Performance Award or Annual
Incentive Award intended to qualify under Code Section 162(m). At such times as
the Company is a Publicly Held Corporation, if and to the extent required under
Code Section 162(m), any power or authority relating to a Performance Award or
Annual Incentive Award intended to qualify under Code Section 162(m), shall be
exercised by the Committee and not the Board.

         (b) Performance Awards Granted to Designated Covered Employees. If and
to the extent that the Committee determines that a Performance Award to be
granted to an Eligible Person who is designated by the Committee as likely to be
a Covered Employee should qualify as "performance-based compensation" for
purposes of Code Section 162(m), the grant, exercise and/or settlement of such
Performance Award shall be contingent upon achievement of preestablished
performance goals and other terms set forth in this Section 8(b).

              (i) Performance Goals Generally. The performance goals for such
         Performance Awards shall consist of one or more business criteria and a
         targeted level or levels of performance with respect to each of such
         criteria, as specified by the Committee consistent with this Section
         8(b). Performance goals shall be objective and shall otherwise meet the
         requirements of Code Section 162(m) and regulations thereunder
         including the requirement that the level or levels of performance
         targeted by the Committee result in the achievement of performance
         goals being "substantially uncertain." The Committee may determine that
         such Performance Awards shall be granted, exercised and/or settled upon
         achievement of any one performance goal or that two or more of the
         performance goals must be achieved as a condition to grant, exercise
         and/or settlement of such Performance Awards. Performance goals may
         differ for Performance Awards granted to any one Participant or to
         different Participants.

              (ii) Business Criteria. One or more of the following business
         criteria for the Company, on a consolidated basis, and/or specified
         Related Entities or business units of the Company (except with respect
         to the total stockholder return and earnings per share criteria), shall
         be used exclusively by the Committee in establishing performance goals
         for such Performance Awards: (1) total

                                       14

<PAGE>

         stockholder return; (2) such total stockholder return as compared to
         total return (on a comparable basis) of a publicly available index such
         as, but not limited to, the Standard & Poor's 500 Stock Index or the
         S&P Specialty Retailer Index; (3) net income; (4) pretax earnings; (5)
         earnings before interest expense, taxes, depreciation and amortization;
         (6) pretax operating earnings after interest expense and before
         bonuses, service fees, and extraordinary or special items; (7)
         operating margin; (8) earnings per share; (9) return on equity; (10)
         return on capital; (11) return on investment; (12) operating earnings;
         (13) revenue; (14) working capital or inventory; and (15) ratio of debt
         to stockholders' equity. One or more of the foregoing business criteria
         shall also be exclusively used in establishing performance goals for
         Annual Incentive Awards granted to a Covered Employee under Section
         8(c) hereof that are intended to qualify as "performanced-based
         compensation under Code Section 162(m).

              (iii) Performance Period; Timing For Establishing Performance
         Goals. Achievement of performance goals in respect of such Performance
         Awards shall be measured over a performance period of up to ten years,
         as specified by the Committee. Performance goals shall be established
         not later than 90 days after the beginning of any performance period
         applicable to such Performance Awards, or at such other date as may be
         required or permitted for "performance-based compensation" under Code
         Section 162(m).

              (iv) Performance Award Pool. The Committee may establish a
         Performance Award pool, which shall be an unfunded pool, for purposes
         of measuring Company performance in connection with Performance Awards.
         The amount of such Performance Award pool shall be based upon the
         achievement of a performance goal or goals based on one or more of the
         business criteria set forth in Section 8(b)(ii) hereof during the given
         performance period, as specified by the Committee in accordance with
         Section 8(b)(iii) hereof. The Committee may specify the amount of the
         Performance Award pool as a percentage of any of such business
         criteria, a percentage thereof in excess of a threshold amount, or as
         another amount which need not bear a strictly mathematical relationship
         to such business criteria.

              (v) Settlement of Performance Awards; Other Terms. Settlement of
         such Performance Awards shall be in cash, Stock, other Awards or other
         property, in the discretion of the Committee. The Committee may, in its
         discretion, reduce the amount of a settlement otherwise to be made in
         connection with such Performance Awards. The Committee shall specify
         the circumstances in which such Performance Awards shall be paid or
         forfeited in the event of termination of Continuous Service by the
         Participant prior to the end of a performance period or settlement of
         Performance Awards.

         (c) Annual Incentive Awards Granted to Designated Covered Employees.
The Committee may, within its discretion, grant one or more Annual Incentive
Awards to any Eligible Person, subject to the terms and conditions set forth in
this Section 8(c).

                                       15

<PAGE>

              (i) Annual Incentive Award Pool. The Committee may establish an
         Annual Incentive Award pool, which shall be an unfunded pool, for
         purposes of measuring Company performance in connection with Annual
         Incentive Awards. In the case of Annual Incentive Awards intended to
         qualify as "performance-based compensation" for purposes of Code
         Section 162(m), the amount of such Annual Incentive Award pool shall be
         based upon the achievement of a performance goal or goals based on one
         or more of the business criteria set forth in Section 8(b)(ii) hereof
         during the given performance period, as specified by the Committee in
         accordance with Section 8(b)(iii) hereof. The Committee may specify the
         amount of the Annual Incentive Award pool as a percentage of any such
         business criteria, a percentage thereof in excess of a threshold
         amount, or as another amount which need not bear a strictly
         mathematical relationship to such business criteria.

              (ii) Potential Annual Incentive Awards. Not later than the end of
         the 90th day of each fiscal year, or at such other date as may be
         required or permitted in the case of Awards intended to be
         "performance-based compensation" under Code Section 162(m), the
         Committee shall determine the Eligible Persons who will potentially
         receive Annual Incentive Awards, and the amounts potentially payable
         thereunder, for that fiscal year, either out of an Annual Incentive
         Award pool established by such date under Section 8(c)(i) hereof or as
         individual Annual Incentive Awards. In the case of individual Annual
         Incentive Awards intended to qualify under Code Section 162(m), the
         amount potentially payable shall be based upon the achievement of a
         performance goal or goals based on one or more of the business criteria
         set forth in Section 8(b)(ii) hereof in the given performance year, as
         specified by the Committee; in other cases, such amount shall be based
         on such criteria as shall be established by the Committee. In all
         cases, the maximum Annual Incentive Award of any Participant shall be
         subject to the limitation set forth in Section 5 hereof.

              (iii) Payout of Annual Incentive Awards. After the end of each
         fiscal year, the Committee shall determine the amount, if any, of (A)
         the Annual Incentive Award pool, and the maximum amount of potential
         Annual Incentive Award payable to each Participant in the Annual
         Incentive Award pool, or (B) the amount of potential Annual Incentive
         Award otherwise payable to each Participant. The Committee may, in its
         discretion, determine that the amount payable to any Participant as an
         Annual Incentive Award shall be reduced from the amount of his or her
         potential Annual Incentive Award, including a determination to make no
         Award whatsoever. The Committee shall specify the circumstances in
         which an Annual Incentive Award shall be paid or forfeited in the event
         of termination of Continuous Service by the Participant prior to the
         end of a fiscal year or settlement of such Annual Incentive Award.

         (d) Written Determinations. All determinations by the Committee as to
the establishment of performance goals, the amount of any Performance Award pool
or potential individual Performance Awards and as to the achievement of
performance goals relating to Performance Awards under Section 8(b), and the
amount of any Annual Incentive Award pool or

                                       16

<PAGE>

potential individual Annual Incentive Awards and the amount of final Annual
Incentive Awards under Section 8(c), shall be made in writing in the case of any
Award intended to qualify under Code Section 162(m). The Committee may not
delegate any responsibility relating to such Performance Awards or Annual
Incentive Awards if and to the extent required to comply with Code Section
162(m).

         (e) Status of Section 8(b) and Section 8(c) Awards Under Code Section
162(m). It is the intent of the Company that Performance Awards and Annual
Incentive Awards under Section 8(b) and 8(c) hereof granted to persons who are
designated by the Committee as likely to be Covered Employees within the meaning
of Code Section 162(m) and regulations thereunder shall, if so designated by the
Committee, constitute "qualified performance-based compensation" within the
meaning of Code Section 162(m) and regulations thereunder. Accordingly, the
terms of Sections 8(b), (c), (d) and (e), including the definitions of Covered
Employee and other terms used therein, shall be interpreted in a manner
consistent with Code Section 162(m) and regulations thereunder. The foregoing
notwithstanding, because the Committee cannot determine with certainty whether a
given Participant will be a Covered Employee with respect to a fiscal year that
has not yet been completed, the term Covered Employee as used herein shall mean
only a person designated by the Committee, at the time of grant of Performance
Awards or an Annual Incentive Award, as likely to be a Covered Employee with
respect to that fiscal year. If any provision of the Plan or any agreement
relating to such Performance Awards or Annual Incentive Awards does not comply
or is inconsistent with the requirements of Code Section 162(m) or regulations
thereunder, such provision shall be construed or deemed amended to the extent
necessary to conform to such requirements.

     9. Change in Control.

         (a) Effect of "Change in Control." If and to the extent provided in the
Award, in the event of a "Change in Control," as defined in Section 9(b):

              (i) The Committee may, within its discretion, accelerate the
         vesting and exercisability of any Award carrying a right to exercise
         that was not previously vested and exercisable as of the time of the
         Change in Control, subject to applicable restrictions set forth in
         Section 10(a) hereof;

              (ii) The Committee may, within its discretion, accelerate the
         exercisability of any limited Stock Appreciation Rights (and other
         Stock Appreciation Rights if so provided by their terms) and provide
         for the settlement of such Stock Appreciation Rights for amounts, in
         cash, determined by reference to the Change in Control Price;

              (iii) The Committee may, within its discretion, lapse the
         restrictions, deferral of settlement, and forfeiture conditions
         applicable to any other Award granted under the Plan and such Awards
         may be deemed fully vested as of the time of the Change in Control,
         except to the extent of any waiver by the Participant and subject to
         applicable restrictions set forth in Section 10(a) hereof; and

                                       17

<PAGE>

              (iv) With respect to any such outstanding Award subject to
         achievement of performance goals and conditions under the Plan, the
         Committee may, within its discretion, deem such performance goals and
         other conditions as having been met as of the date of the Change in
         Control.

         (b) Definition of "Change in Control. A "Change in Control" shall be
deemed to have occurred upon:

              (i) Approval by the shareholders of the Company of a
         reorganization, merger, consolidation or other form of corporate
         transaction or series of transactions, in each case, with respect to
         which persons who were the shareholders of the Company immediately
         prior to such reorganization, merger or consolidation or other
         transaction do not, immediately thereafter, own more than 50% of the
         combined voting power entitled to vote generally in the election of
         directors of the reorganized, merged or consolidated company's then
         outstanding voting securities, or a liquidation or dissolution of the
         Company or the sale of all or substantially all of the assets of the
         Company (unless such reorganization, merger, consolidation or other
         corporate transaction, liquidation, dissolution or sale (any such event
         being referred to as a "Corporate Transaction") is subsequently
         abandoned);

              (ii) Individuals who, as of the date on which the Award is
         granted, constitute the Board (the"Incumbent Board") cease for any
         reason to constitute at least a majority of the Board, provided that
         any person becoming a director subsequent to the date on which the
         Award was granted whose election, or nomination for election by the
         Company's shareholders, was approved by a vote of at least a majority
         of the directors then comprising the Incumbent Board (other than an
         election or nomination of an individual whose initial assumption of
         office is in connection with an actual or threatened election contest
         relating to the election of the Directors of the Company) shall be, for
         purposes of this Agreement, considered as though such person were a
         member of the Incumbent Board; or

              (iii) the acquisition (other than from the Company) by any person,
         entity or "group", within the meaning of Section 13(d)(3) or 14(d)(2)
         of the Securities Exchange Act, of more than 50% of either the then
         outstanding shares of the Company's Common Stock or the combined voting
         power of the Company's then outstanding voting securities entitled to
         vote generally in the election of directors (hereinafter referred to as
         the ownership of a "Controlling Interest") excluding, for this purpose,
         any acquisitions by (1) the Company or a Related Entity, (2) any
         person, entity or "group" that as of the date on which the Award is
         granted owns beneficial ownership (within the meaning of Rule 13d-3
         promulgated under the Securities Exchange Act) of a Controlling
         Interest or (3) any employee benefit plan of the Company a Related
         Entity.

         (c) Definition of "Change in Control Price." The "Change in Control
Price" means an amount in cash equal to the higher of (i) the amount of cash and
fair market value of property that is the highest price per share paid
(including extraordinary dividends) in any Corporate Transaction triggering the
Change in Control under Section 9(b)(i) hereof or any liquidation of shares
following a sale of substantially all of the assets of the Company, or (ii) the
highest Fair Market Value per share at any time during the 60-day period
preceding and the 60-day period following the Change in Control.

                                       18

<PAGE>

     10. General Provisions.

         (a) Compliance With Legal and Other Requirements. The Company may, to
the extent deemed necessary or advisable by the Committee or the Board, postpone
the issuance or delivery of Stock or payment of other benefits under any Award
until completion of such registration or qualification of such Stock or other
required action under any federal or state law, rule or regulation, listing or
other required action with respect to any stock exchange or automated quotation
system upon which the Stock or other Company securities are listed or quoted, or
compliance with any other obligation of the Company, as the Committee or the
Board, may consider appropriate, and may require any Participant to make such
representations, furnish such information and comply with or be subject to such
other conditions as it may consider appropriate in connection with the issuance
or delivery of Stock or payment of other benefits in compliance with applicable
laws, rules, and regulations, listing requirements, or other obligations. The
foregoing notwithstanding, in connection with a Change in Control, the Company
shall take or cause to be taken no action, and shall undertake or permit to
arise no legal or contractual obligation, that results or would result in any
postponement of the issuance or delivery of Stock or payment of benefits under
any Award or the imposition of any other conditions on such issuance, delivery
or payment, to the extent that such postponement or other condition would
represent a greater burden on a Participant than existed on the 90th day
preceding the Change in Control.

         (b) Limits on Transferability; Beneficiaries. No Award or other right
or interest of a Participant under the Plan, including any Award or right which
constitutes a derivative security as generally defined in Rule 16a-1(c) under
the Exchange Act, shall be pledged, hypothecated or otherwise encumbered or
subject to any lien, obligation or liability of such Participant to any party
(other than the Company or a Subsidiary), or assigned or transferred by such
Participant otherwise than by will or the laws of descent and distribution or to
a Beneficiary upon the death of a Participant, and such Awards or rights that
may be exercisable shall be exercised during the lifetime of the Participant
only by the Participant or his or her guardian or legal representative, except
that Awards and other rights (other than Incentive Stock Options and Stock
Appreciation Rights in tandem therewith) may be transferred to one or more
Beneficiaries or other transferees during the lifetime of the Participant, and
may be exercised by such transferees in accordance with the terms of such Award,
but only if and to the extent such transfers and exercises are permitted by the
Committee or the Board pursuant to the express terms of an Award agreement
(subject to any terms and conditions which the Committee or the Board may impose
thereon, and further subject to any prohibitions or restrictions on such
transfers pursuant to Rule 16b-3). A Beneficiary, transferee, or other person
claiming any rights under the Plan from or through any Participant shall be
subject to all terms and conditions of the Plan and any Award agreement
applicable to such Participant, except as otherwise determined by the Committee
or the Board, and to any additional terms and conditions deemed necessary or
appropriate by the Committee or the Board.

         (c) Adjustments.

              (i) Adjustments to Awards. In the event that any dividend or other
         distribution (whether in the form of cash, Stock, or other property),
         recapitalization, forward or reverse split, reorganization, merger,
         consolidation, spin-off, combination, repurchase, share

                                       19

<PAGE>

         exchange, liquidation, dissolution or other similar corporate
         transaction or event affects the Stock and/or such other securities of
         the Company or any other issuer such that a substitution, exchange, or
         adjustment is determined by the Committee or the Board to be
         appropriate, then the Committee or the Board shall, in such manner as
         it may deem equitable, substitute, exchange or adjust any or all of (A)
         the number and kind of shares of Stock which may be delivered in
         connection with Awards granted thereafter, (B) the number and kind of
         shares of Stock by which annual per-person Award limitations are
         measured under Section 5 hereof, (C) the number and kind of shares of
         Stock subject to or deliverable in respect of outstanding Awards, (D)
         the exercise price, grant price or purchase price relating to any Award
         and/or make provision for payment of cash or other property in respect
         of any outstanding Award, and (E) any other aspect of any Award that
         the Committee or Board determines to be appropriate.

              (ii) Adjustments in Case of Certain Corporate Transactions. In the
         event of a proposed sale of all or substantially all of the Company's
         assets or any reorganization, merger, consolidation, or other form of
         corporate transaction in which the Company does not survive, or in
         which the shares of Stock are exchanged for or converted into
         securities issued by another entity, then the successor or acquiring
         entity or an affiliate thereof may, with the consent of the Committee
         or the Board, assume each outstanding Option or substitute an
         equivalent option or right. If the successor or acquiring entity or an
         affiliate thereof, does not cause such an assumption or substitution,
         then each Option shall terminate upon the consummation of sale, merger,
         consolidation, or other corporate transaction. The Committee or the
         Board shall give written notice of any proposed transaction referred to
         in this Section 10(c)(ii) a reasonable period of time prior to the
         closing date for such transaction (which notice may be given either
         before or after the approval of such transaction), in order that
         Optionees may have a reasonable period of time prior to the closing
         date of such transaction within which to exercise any Options that are
         then exercisable (including any Options that may become exercisable
         upon the closing date of such transaction). An Optionee may condition
         his exercise of any Option upon the consummation of the transaction.

              (iii) Other Adjustments. In addition, the Committee (and the Board
         if and only to the extent such authority is not required to be
         exercised by the Committee to comply with Code Section 162(m)) is
         authorized to make adjustments in the terms and conditions of, and the
         criteria included in, Awards (including Performance Awards and
         performance goals, and Annual Incentive Awards and any Annual Incentive
         Award pool or performance goals relating thereto) in recognition of
         unusual or nonrecurring events (including, without limitation,
         acquisitions and dispositions of businesses and assets) affecting the
         Company, any Related Entity or any business unit, or the financial
         statements of the Company or any Related Entity, or in response to
         changes in applicable laws, regulations, accounting principles, tax
         rates and regulations or business conditions or in view of the
         Committee's assessment of the business strategy of the Company, any
         Related Entity or business unit thereof, performance of comparable
         organizations, economic and business conditions, personal performance
         of a Participant, and any other circumstances deemed relevant; provided
         that no such adjustment shall be authorized or made if and to the
         extent that such authority or the making of such adjustment would cause
         Options, Stock Appreciation Rights, Performance Awards granted under
         Section 8(b) hereof or Annual Incentive Awards granted under Section
         8(c) hereof to Participants designated by the Committee as Covered
         Employees and intended to qualify as "performance-based compensation"
         under Code Section 162(m) and the regulations thereunder to otherwise
         fail to

                                       20

<PAGE>

qualify as "performance-based compensation" under Code Section 162(m) and
regulations thereunder.

         (d) Taxes. The Company and any Related Entity are authorized to
withhold from any Award granted, any payment relating to an Award under the
Plan, including from a distribution of Stock, or any payroll or other payment to
a Participant, amounts of withholding and other taxes due or potentially payable
in connection with any transaction involving an Award, and to take such other
action as the Committee or the Board may deem advisable to enable the Company
and Participants to satisfy obligations for the payment of withholding taxes and
other tax obligations relating to any Award. This authority shall include
authority to withhold or receive Stock or other property and to make cash
payments in respect thereof in satisfaction of a Participant's tax obligations,
either on a mandatory or elective basis in the discretion of the Committee.

         (e) Changes to the Plan and Awards. The Board may amend, alter,
suspend, discontinue or terminate the Plan, or the Committee's authority to
grant Awards under the Plan, without the consent of stockholders or
Participants, except that any amendment or alteration to the Plan shall be
subject to the approval of the Company's stockholders not later than the annual
meeting next following such Board action if such stockholder approval is
required by any federal or state law or regulation (including, without
limitation, Rule 16b-3 or Code Section 162(m)) or the rules of any stock
exchange or automated quotation system on which the Stock may then be listed or
quoted, and the Board may otherwise, in its discretion, determine to submit
other such changes to the Plan to stockholders for approval; provided that,
without the consent of an affected Participant, no such Board action may
materially and adversely affect the rights of such Participant under any
previously granted and outstanding Award. The Committee or the Board may waive
any conditions or rights under, or amend, alter, suspend, discontinue or
terminate any Award theretofore granted and any Award agreement relating
thereto, except as otherwise provided in the Plan; provided that, without the
consent of an affected Participant, no such Committee or the Board action may
materially and adversely affect the rights of such Participant under such Award.
Notwithstanding anything in the Plan to the contrary, if any right under this
Plan would cause a transaction to be ineligible for pooling of interest
accounting that would, but for the right hereunder, be eligible for such
accounting treatment, the Committee or the Board may modify or adjust the right
so that pooling of interest accounting shall be available, including the
substitution of Stock having a Fair Market Value equal to the cash otherwise
payable hereunder for the right which caused the transaction to be ineligible
for pooling of interest accounting.

         (f) Limitation on Rights Conferred Under Plan. Neither the Plan nor any
action taken hereunder shall be construed as (i) giving any Eligible Person or
Participant the right to continue as an Eligible Person or Participant or in the
employ of the Company or a Related Entity; (ii) interfering in any way with the
right of the Company or a Related Entity to terminate any Eligible Person's or
Participant's Continuous Service at any time, (iii) giving an Eligible Person or
Participant any claim to be granted any Award under the Plan or to be treated
uniformly with other Participants and Employees, or (iv) conferring on a
Participant any of the rights of a stockholder of the Company unless and until
the Participant is duly issued or transferred shares of Stock in accordance with
the terms of an Award.

                                       21

<PAGE>

         (g) Unfunded Status of Awards; Creation of Trusts. The Plan is intended
to constitute an "unfunded" plan for incentive and deferred compensation. With
respect to any payments not yet made to a Participant or obligation to deliver
Stock pursuant to an Award, nothing contained in the Plan or any Award shall
give any such Participant any rights that are greater than those of a general
creditor of the Company; provided that the Committee may authorize the creation
of trusts and deposit therein cash, Stock, other Awards or other property, or
make other arrangements to meet the Company's obligations under the Plan. Such
trusts or other arrangements shall be consistent with the "unfunded" status of
the Plan unless the Committee otherwise determines with the consent of each
affected Participant. The trustee of such trusts may be authorized to dispose of
trust assets and reinvest the proceeds in alternative investments, subject to
such terms and conditions as the Committee or the Board may specify and in
accordance with applicable law.

         (h) Nonexclusivity of the Plan. Neither the adoption of the Plan by the
Board nor its submission to the stockholders of the Company for approval shall
be construed as creating any limitations on the power of the Board or a
committee thereof to adopt such other incentive arrangements as it may deem
desirable including incentive arrangements and awards which do not qualify under
Code Section 162(m).

         (i) Payments in the Event of Forfeitures; Fractional Shares. Unless
otherwise determined by the Committee or the Board, in the event of a forfeiture
of an Award with respect to which a Participant paid cash or other
consideration, the Participant shall be repaid the amount of such cash or other
consideration. No fractional shares of Stock shall be issued or delivered
pursuant to the Plan or any Award. The Committee or the Board shall determine
whether cash, other Awards or other property shall be issued or paid in lieu of
such fractional shares or whether such fractional shares or any rights thereto
shall be forfeited or otherwise eliminated.

         (j) Governing Law. The validity, construction and effect of the Plan,
any rules and regulations under the Plan, and any Award agreement shall be
determined in accordance with the laws of the State of Florida without giving
effect to principles of conflicts of laws, and applicable federal law.

         (k) Plan Effective Date and Stockholder Approval; Termination of Plan.
The Plan shall become effective on the Effective Date, subject to subsequent
approval within 12 months of its adoption by the Board by stockholders of the
Company eligible to vote in the election of directors, by a vote sufficient to
meet the requirements of Code Sections 162(m) (if applicable) and 422, Rule
16b-3 under the Exchange Act (if applicable), applicable NASDAQ requirements,
and other laws, regulations, and obligations of the Company applicable to the
Plan. Awards may be granted subject to stockholder approval, but may not be
exercised or otherwise settled in the event stockholder approval is not
obtained. The Plan shall terminate at such time as no shares of Common Stock
remain available for issuance under the Plan and the Company has no further
rights or obligations with respect to outstanding Awards under the Plan.

                                       22

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00052-of-00352.parquet"}]]