Document:

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                                                                   EXHIBIT 10.15

                                                                  EXECUTION COPY

                           REGISTRATION RIGHTS AGREEMENT

         This REGISTRATION RIGHTS AGREEMENT dated March 4, 2004 (the
"Agreement") is entered into by and among Nebraska Book Company, Inc., a Kansas
corporation (the "Company"), Specialty Books, Inc. (the "Guarantor"), and J.P.
Morgan Securities Inc., Citigroup Global Markets Inc. and Fleet Securities, Inc.
(the "Initial Purchasers").

         The Company, the Guarantor and the Initial Purchasers are parties to
the Purchase Agreement dated February 27, 2004 (the "Purchase Agreement"), which
provides for the sale by the Company to the Initial Purchasers of $175,000,000
aggregate principal amount of the Company's 8 5/8% Senior Subordinated Notes due
2012 (the "Securities") which will be guaranteed on an unsecured senior
subordinated basis by the Guarantor. As an inducement to the Initial Purchasers
to enter into the Purchase Agreement, the Company and the Guarantor have agreed
to provide to the Initial Purchasers and their direct and indirect transferees
the registration rights set forth in this Agreement. The execution and delivery
of this Agreement is a condition to the closing under the Purchase Agreement.

         In consideration of the foregoing, the parties hereto agree as follows:

         1.       Definitions. As used in this Agreement, the following terms
shall have the following meanings:

         "Business Day" shall mean any day that is not a Saturday, Sunday or
other day on which commercial banks in New York City are authorized or required
by law to remain closed.

         "Closing Date" shall mean the Closing Date as defined in the Purchase
Agreement.

         "Company" shall have the meaning set forth in the preamble and shall
also include the Company's successors.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended from time to time.

         "Exchange Dates" shall have the meaning set forth in Section 2(a)(ii)
hereof.

         "Exchange Offer" shall mean the exchange offer by the Company and the
Guarantor of Exchange Securities for Registrable Securities pursuant to Section
2(a) hereof.

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         "Exchange Offer Registration" shall mean a registration under the
Securities Act effected pursuant to Section 2(a) hereof.

         "Exchange Offer Registration Statement" shall mean an exchange offer
registration statement on Form S-4 (or, if applicable, on another appropriate
form) and all amendments and supplements to such registration statement, in each
case including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

         "Exchange Securities" shall mean senior subordinated notes issued by
the Company and guaranteed by the Guarantor under the Indenture containing terms
identical to the Securities (except that the Exchange Securities will not be
subject to restrictions on transfer or to any increase in annual interest rate
for failure to comply with this Agreement) and to be offered to Holders of
Securities in exchange for Securities pursuant to the Exchange Offer.

         "Guarantor" shall have the meaning set forth in the preamble and shall
also include any of Guarantor's successors.

         "Holders" shall mean the Initial Purchasers, for so long as they own
any Registrable Securities, and each of their successors, assigns and direct and
indirect transferees who become owners of Registrable Securities under the
Indenture; provided that for purposes of Sections 4 and 5 of this Agreement, the
term "Holders" shall include Participating Broker-Dealers.

         "Initial Purchasers" shall have the meaning set forth in the preamble.

         "Indenture" shall mean the Indenture relating to the Securities dated
as of March 4, 2004 among the Company, the Guarantor and BNY Midwest Trust
Company, as trustee, and as the same may be amended from time to time in
accordance with the terms thereof.

         "Majority Holders" shall mean the Holders of a majority of the
aggregate principal amount of outstanding Registrable Securities; provided that
whenever the consent or approval of Holders of a specified percentage of
Registrable Securities is required hereunder, Registrable Securities owned
directly or indirectly by the Company or any of its affiliates shall not be
counted in determining whether such consent or approval was given by the Holders
of such required percentage or amount.

         "Participating Broker-Dealers" shall have the meaning set forth in
Section 4(a) hereof.

         "Person" shall mean an individual, partnership, limited liability
company, corporation, trust or unincorporated organization, or a government or
agency or political subdivision thereof.

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         "Prospectus" shall mean the prospectus included in a Registration
Statement, including any preliminary prospectus, and any such prospectus as
amended or supplemented by any prospectus supplement, including a prospectus
supplement with respect to the terms of the offering of any portion of the
Registrable Securities covered by a Shelf Registration Statement, and by all
other amendments and supplements to such prospectus, and in each case including
any document incorporated by reference therein.

         "Purchase Agreement" shall have the meaning set forth in the preamble.

         "Registrable Securities" shall mean the Securities; provided that the
Securities shall cease to be Registrable Securities (i) when a Registration
Statement with respect to such Securities has been declared effective under the
Securities Act and such Securities have been exchanged or disposed of pursuant
to such Registration Statement, (ii) when such Securities are eligible to be
sold pursuant to Rule 144(k) (or any similar provision then in force, but not
Rule 144A) under the Securities Act or (iii) when such Securities cease to be
outstanding.

         "Registration Expenses" shall mean any and all expenses incident to
performance of or compliance by the Company and the Guarantor with this
Agreement, including without limitation: (i) all SEC, stock exchange or National
Association of Securities Dealers, Inc. registration and filing fees, (ii) all
fees and expenses incurred in connection with compliance with state securities
or blue sky laws (including reasonable fees and disbursements of counsel for any
Underwriters or Holders in connection with blue sky qualification of any
Exchange Securities or Registrable Securities), (iii) all expenses of any
Persons in preparing or assisting in preparing, word processing, printing and
distributing any Registration Statement, any Prospectus and any amendments or
supplements thereto, any underwriting agreements, securities sales agreements or
other similar agreements and any other documents relating to the performance of
and compliance with this Agreement, (iv) all rating agency fees, (v) all fees
and disbursements relating to the qualification of the Indenture under
applicable securities laws, (vi) the fees and disbursements of the Trustee and
its counsel, (vii) the fees and disbursements of counsel for the Company and the
Guarantor and, in the case of a Shelf Registration Statement, the fees and
disbursements of one counsel for the Holders (which counsel shall be selected by
the Majority Holders and which counsel may also be counsel for the Initial
Purchasers) and (viii) the fees and disbursements of the independent public
accountants of the Company and the Guarantor, including the expenses of any
special audits or "comfort" letters required by or incident to the performance
of and compliance with this Agreement, but excluding fees and expenses of
counsel to the Underwriters (other than fees and expenses set forth in clause
(ii) above) or the Holders and underwriting discounts and commissions and
transfer taxes, if any, relating to the sale or disposition of Registrable
Securities by a Holder.

         "Registration Statement" shall mean any registration statement of the
Company and the Guarantor that covers any of the Exchange Securities or
Registrable Securities pursuant to the provisions of this Agreement and all
amendments and supplements to any such registration statement, including
post-effective amendments, in each case including

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the Prospectus contained therein, all exhibits thereto and any document
incorporated by reference therein.

         "SEC" shall mean the Securities and Exchange Commission.

         "Securities Act" shall mean the Securities Act of 1933, as amended from
time to time.

         "Shelf Effectiveness Period" shall have the meaning set forth in
Section 2(b) hereof.

         "Shelf Registration" shall mean a registration effected pursuant to
Section 2(b) hereof.

         "Shelf Registration Statement" shall mean a "shelf" registration
statement of the Company and the Guarantor that covers all the Registrable
Securities (but no other securities unless approved by the Holders whose
Registrable Securities are to be covered by such Shelf Registration Statement)
on an appropriate form under Rule 415 under the Securities Act, or any similar
rule that may be adopted by the SEC, and all amendments and supplements to such
registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

         "Trust Indenture Act" shall mean the Trust Indenture Act of 1939, as
amended from time to time.

         "Trustee" shall mean the trustee with respect to the Securities under
the Indenture.

         "Underwriter" shall have the meaning set forth in Section 3 hereof.

         "Underwritten Offering" shall mean an offering in which Registrable
Securities are sold to an Underwriter for reoffering to the public.

         2.       Registration Under the Securities Act. (a) To the extent not
prohibited by any applicable law or applicable interpretations of the Staff of
the SEC, the Company and the Guarantor shall use their reasonable best efforts
to (i) cause to be filed an Exchange Offer Registration Statement covering an
offer to the Holders to exchange all the Registrable Securities for Exchange
Securities and (ii) have such Registration Statement remain effective until 180
days after the closing of the Exchange Offer. The Company and the Guarantor
shall commence the Exchange Offer promptly after the Exchange Offer Registration
Statement is declared effective by the SEC and use their reasonable best efforts
to complete the Exchange Offer not later than 60 days after such effective date.

         The Company and the Guarantor shall commence the Exchange Offer by
mailing the related Prospectus, appropriate letters of transmittal and other
accompanying

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documents to each Holder stating, in addition to such other disclosures as are
required by applicable law:

(i)      that the Exchange Offer is being made pursuant to this Agreement and
         that all Registrable Securities validly tendered and not properly
         withdrawn will be accepted for exchange;

(ii)     the dates of acceptance for exchange (which shall be a period of at
         least 20 Business Days from the date such notice is mailed) (the
         "Exchange Dates");

(iii)    that any Registrable Security not tendered will remain outstanding and
         continue to accrue interest but will not retain any rights under this
         Agreement;

(iv)     that any Holder electing to have a Registrable Security exchanged
         pursuant to the Exchange Offer will be required to surrender such
         Registrable Security, together with the appropriate letters of
         transmittal, to the institution and at the address (located in the
         Borough of Manhattan, The City of New York) and in the manner specified
         in the notice, prior to the close of business on the last Exchange
         Date; and

(v)      that any Holder will be entitled to withdraw its election, not later
         than the close of business on the last Exchange Date, by sending to the
         institution and at the address (located in the Borough of Manhattan,
         The City of New York) specified in the notice, a telegram, telex,
         facsimile transmission or letter setting forth the name of such Holder,
         the principal amount of Registrable Securities delivered for exchange
         and a statement that such Holder is withdrawing its election to have
         such Securities exchanged.

         As a condition to participating in the Exchange Offer, a Holder will be
required to represent to the Company and the Guarantor that (i) any Exchange
Securities to be received by it will be acquired in the ordinary course of its
business, (ii) at the time of the commencement of the Exchange Offer it has no
arrangement or understanding with any Person to participate in the distribution
(within the meaning of the Securities Act) of the Exchange Securities in
violation of the provisions of the Securities Act, (iii) it is not an
"affiliate" (within the meaning of Rule 405 under Securities Act) of the Company
or any Guarantor and (iv) if such Holder is a broker-dealer that will receive
Exchange Securities for its own account in exchange for Registrable Securities
that were acquired as a result of market-making or other trading activities,
then such Holder will deliver a Prospectus in connection with any resale of such
Exchange Securities.

         As soon as practicable after the last Exchange Date, the Company and
the Guarantor shall:

(i)      accept for exchange Registrable Securities or portions thereof validly
         tendered and not properly withdrawn pursuant to the Exchange Offer; and

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(ii)     deliver, or cause to be delivered, to the Trustee for cancellation all
         Registrable Securities or portions thereof so accepted for exchange by
         the Company and issue, and cause the Trustee to promptly authenticate
         and deliver to each Holder, Exchange Securities equal in principal
         amount to the principal amount of the Registrable Securities
         surrendered by such Holder.

         The Company and the Guarantor shall use their reasonable best efforts
to complete the Exchange Offer as provided above and shall comply with the
applicable requirements of the Securities Act, the Exchange Act and other
applicable laws and regulations in connection with the Exchange Offer. The
Exchange Offer shall not be subject to any conditions, other than that the
Exchange Offer does not violate any applicable law or applicable interpretations
of the Staff of the SEC.

         (b)      In the event that (i) the Company and the Guarantor determine
that the Exchange Offer Registration provided for in Section 2(a) above is not
available or may not be completed as soon as practicable after the last Exchange
Date because it would violate any applicable law or applicable interpretations
of the Staff of the SEC, (ii) the Exchange Offer is not for any other reason
completed on or prior to 210 days after the date hereof or (iii) upon completion
of the Exchange Offer any Initial Purchaser shall so request in connection with
any offering or sale of Registrable Securities not eligible to be exchanged for
Exchange Securities in the Exchange Offer and held by it following the
consummation of the Exchange Offer, the Company and the Guarantor shall use
their reasonable best efforts to cause to be filed as soon as practicable after
such determination, date or request, as the case may be, a Shelf Registration
Statement providing for the sale of all the Registrable Securities by the
Holders thereof and to have such Shelf Registration Statement declared effective
by the SEC.

         In the event that the Company and the Guarantor are required to file a
Shelf Registration Statement pursuant to clause (iii) of the preceding sentence,
the Company and the Guarantor shall use their reasonable best efforts to file
and have declared effective by the SEC both an Exchange Offer Registration
Statement pursuant to Section 2(a) with respect to all Registrable Securities
and a Shelf Registration Statement (which may be a combined Registration
Statement with the Exchange Offer Registration Statement) with respect to offers
and sales of Registrable Securities held by the Initial Purchasers after
completion of the Exchange Offer.

         The Company and the Guarantor agree to use their reasonable best
efforts to keep the Shelf Registration Statement continuously effective until
the expiration of the period referred to in Rule 144(k) under the Securities Act
with respect to the Registrable Securities or such shorter period that will
terminate when all the Registrable Securities covered by the Shelf Registration
Statement have been sold pursuant to the Shelf Registration Statement (the
"Shelf Effectiveness Period"). The Company and the Guarantor further agree to
supplement or amend the Shelf Registration Statement and the related Prospectus
if required by the rules, regulations or instructions applicable to the
registration form used by the Company for such Shelf Registration Statement or
by the Securities Act or by any other rules and regulations thereunder for shelf
registration or if

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reasonably requested by a Holder of Registrable Securities with respect to
information relating to such Holder, and to use their reasonable best efforts to
cause any such amendment to become effective and such Shelf Registration
Statement and Prospectus to become usable as soon as thereafter practicable. The
Company and the Guarantor agree to furnish to the Holders of Registrable
Securities copies of any such supplement or amendment promptly after its being
used or filed with the SEC.

         (c)      The Company and the Guarantor shall pay all Registration
Expenses in connection with the registration pursuant to Section 2(a) and
Section 2(b) hereof. Each Holder shall pay all underwriting discounts and
commissions and transfer taxes, if any, relating to the sale or disposition of
such Holder's Registrable Securities pursuant to the Shelf Registration
Statement.

         (d)      An Exchange Offer Registration Statement pursuant to Section
2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof
will not be deemed to have become effective unless it has been declared
effective by the SEC.

         In the event that either the Exchange Offer is not completed or the
Shelf Registration Statement, if required hereby, is not declared effective on
or prior to the date that is 210 days after the date hereof, the interest rate
on the Registrable Securities will be increased by 1.00% per annum until the
Exchange Offer is completed or the Shelf Registration Statement, if required
hereby, is declared effective by the SEC or the Securities become freely
tradable under the Securities Act.

         If the Shelf Registration Statement has been declared effective and
thereafter either ceases to be effective or the Prospectus contained therein
ceases to be usable at any time during the Shelf Effectiveness Period, and such
failure to remain effective or usable exists for more than 30 days (whether or
not consecutive) in any 12-month period, then the interest rate on the
Registrable Securities will be increased by 1.00% per annum commencing on the
31st day in such 12-month period and ending on such date that the Shelf
Registration Statement has again been declared effective or the Prospectus again
becomes usable.

         (e)      Without limiting the remedies available to the Initial
Purchasers and the Holders, the Company and the Guarantor acknowledge that any
failure by the Company or the Guarantor to comply with their obligations under
Section 2(a) and Section 2(b) hereof may result in material irreparable injury
to the Initial Purchasers or the Holders for which there is no adequate remedy
at law, that it will not be possible to measure damages for such injuries
precisely and that, in the event of any such failure, the Initial Purchasers or
any Holder may obtain such relief as may be required to specifically enforce the
Company's and the Guarantor' obligations under Section 2(a) and Section 2(b)
hereof.

         3.       Registration Procedures. In connection with their obligations
pursuant to Section 2(a) and Section 2(b) hereof, the Company and the Guarantor
shall as expeditiously as possible:

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         (a)      prepare and file with the SEC a Registration Statement on the
appropriate form under the Securities Act, which form (x) shall be selected by
the Company and the Guarantor, (y) shall, in the case of a Shelf Registration,
be available for the sale of the Registrable Securities by the selling Holders
thereof and (z) shall comply as to form in all material respects with the
requirements of the applicable form and include all financial statements
required by the SEC to be filed therewith; and use their reasonable best efforts
to cause such Registration Statement to become effective and remain effective
for the applicable period in accordance with Section 2 hereof;

         (b)      prepare and file with the SEC such amendments and
post-effective amendments to each Registration Statement as may be necessary to
keep such Registration Statement effective for the applicable period in
accordance with Section 2 hereof and cause each Prospectus to be supplemented by
any required prospectus supplement and, as so supplemented, to be filed pursuant
to Rule 424 under the Securities Act; and keep each Prospectus current during
the period described in Section 4(3) of and Rule 174 under the Securities Act
that is applicable to transactions by brokers or dealers with respect to the
Registrable Securities or Exchange Securities;

         (c)      in the case of a Shelf Registration, furnish to each Holder of
Registrable Securities, to counsel for the Initial Purchasers, to counsel for
such Holders and to each Underwriter of an Underwritten Offering of Registrable
Securities, if any, without charge, as many copies of each Prospectus, including
each preliminary Prospectus, and any amendment or supplement thereto, in order
to facilitate the sale or other disposition of the Registrable Securities
thereunder; and the Company and the Guarantor consent to the use of such
Prospectus and any amendment or supplement thereto in accordance with applicable
law by each of the selling Holders of Registrable Securities and any such
Underwriters in connection with the offering and sale of the Registrable
Securities covered by and in the manner described in such Prospectus or any
amendment or supplement thereto in accordance with applicable law;

         (d)      use their reasonable best efforts to register or qualify the
Registrable Securities under all applicable state securities or blue sky laws of
such jurisdictions as any Holder of Registrable Securities covered by a
Registration Statement shall reasonably request in writing by the time the
applicable Registration Statement is declared effective by the SEC; cooperate
with the Holders in connection with any filings required to be made with the
National Association of Securities Dealers, Inc.; and do any and all other acts
and things that may be reasonably necessary or advisable to enable each Holder
to complete the disposition in each such jurisdiction of the Registrable
Securities owned by such Holder; provided that neither the Company nor any
Guarantor shall be required to (i) qualify as a foreign corporation or other
entity or as a dealer in securities in any such jurisdiction where it would not
otherwise be required to so qualify, (ii) file any general consent to service of
process in any such jurisdiction or (iii) subject itself to taxation in any such
jurisdiction if it is not so subject;

         (e)      in the case of a Shelf Registration, notify each Holder of
Registrable Securities, counsel for such Holders and counsel for the Initial
Purchasers promptly and,

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if requested by any such Holder or counsel, confirm such advice in writing (i)
when a Registration Statement has become effective and when any post-effective
amendment thereto has been filed and becomes effective, (ii) of any request by
the SEC or any state securities authority for amendments and supplements to a
Registration Statement and Prospectus or for additional information after the
Registration Statement has become effective, (iii) of the issuance by the SEC or
any state securities authority of any stop order suspending the effectiveness of
a Registration Statement or the initiation of any proceedings for that purpose,
(iv) if, between the effective date of a Registration Statement and the closing
of any sale of Registrable Securities covered thereby, the representations and
warranties of the Company or any Guarantor contained in any underwriting
agreement, securities sales agreement or other similar agreement, if any,
relating to an offering of such Registrable Securities cease to be true and
correct in all material respects or if the Company or any Guarantor receives any
notification with respect to the suspension of the qualification of the
Registrable Securities for sale in any jurisdiction or the initiation of any
proceeding for such purpose, (v) of the happening of any event during the period
a Shelf Registration Statement is effective that makes any statement made in
such Registration Statement or the related Prospectus untrue in any material
respect or that requires the making of any changes in such Registration
Statement or Prospectus in order to make the statements therein (in the case of
the Prospectus, in the light of the circumstances under which they were made)
not misleading, and (vi) of any determination by the Company or any Guarantor
that a post-effective amendment to a Registration Statement would be
appropriate;

         (f)      use their reasonable best efforts to obtain the withdrawal at
the earliest possible time of any order suspending the effectiveness of a
Registration Statement at the earliest possible moment and provide immediate
notice to each Holder of the withdrawal of any such order;

         (g)      in the case of a Shelf Registration, furnish to each Holder of
Registrable Securities, without charge, at least one conformed copy of each
Registration Statement and any post-effective amendment thereto (without any
documents incorporated therein by reference or exhibits thereto, unless
requested);

         (h)      in the case of a Shelf Registration, cooperate with the
selling Holders of Registrable Securities to facilitate the timely preparation
and delivery of certificates representing Registrable Securities to be sold and
not bearing any restrictive legends and enable such Registrable Securities to be
issued in such denominations and registered in such names (consistent with the
provisions of the Indenture) as the selling Holders may reasonably request;

         (i)      in the case of a Shelf Registration, upon the occurrence of
any event contemplated by Section 3(e)(v) hereof, use their reasonable best
efforts to prepare and file with the SEC a supplement or post-effective
amendment to a Registration Statement or the related Prospectus or any document
incorporated therein by reference or file any other required document so that,
as thereafter delivered to purchasers of the Registrable Securities, such
Prospectus will not contain any untrue statement of a material fact or

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omit to state a material fact necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading; and the
Company and the Guarantor shall notify the Holders of Registrable Securities to
suspend use of the Prospectus as promptly as practicable after the occurrence of
such an event, and such Holders hereby agree to suspend use of the Prospectus
until the Company and the Guarantor have amended or supplemented the Prospectus
to correct such misstatement or omission;

         (j)      a reasonable time prior to the filing of any Registration
Statement, any Prospectus, any amendment to a Registration Statement or
amendment or supplement to a Prospectus or of any document that is to be
incorporated by reference into a Registration Statement or a Prospectus after
initial filing of a Registration Statement, provide copies of such document to
the Initial Purchasers and their counsel (and, in the case of a Shelf
Registration Statement, to the Holders of Registrable Securities and their
counsel) and make such of the representatives of the Company and the Guarantor
as shall be reasonably requested by the Initial Purchasers or their counsel
(and, in the case of a Shelf Registration Statement, the Holders of Registrable
Securities or their counsel) available for discussion of such document; and the
Company and the Guarantor shall not, at any time after initial filing of a
Registration Statement, file any Prospectus, any amendment of or supplement to a
Registration Statement or a Prospectus, or any document that is to be
incorporated by reference into a Registration Statement or a Prospectus, of
which the Initial Purchasers and their counsel (and, in the case of a Shelf
Registration Statement, the Holders of Registrable Securities and their counsel)
shall not have previously been advised and furnished a copy or to which the
Initial Purchasers or their counsel (and, in the case of a Shelf Registration
Statement, the Holders or their counsel) shall reasonably object;

         (k)      obtain a CUSIP number for all Exchange Securities or
Registrable Securities, as the case may be, not later than the effective date of
a Registration Statement;

         (l)      cause the Indenture to be qualified under the Trust Indenture
Act in connection with the registration of the Exchange Securities or
Registrable Securities, as the case may be; cooperate with the Trustee and the
Holders to effect such changes to the Indenture as may be required for the
Indenture to be so qualified in accordance with the terms of the Trust Indenture
Act; and execute, and use their reasonable best efforts to cause the Trustee to
execute, all documents as may be required to effect such changes and all other
forms and documents required to be filed with the SEC to enable the Indenture to
be so qualified in a timely manner;

         (m)      in the case of a Shelf Registration, make available for
inspection by a representative of the Holders of the Registrable Securities (an
"Inspector"), any Underwriter participating in any disposition pursuant to such
Shelf Registration Statement, and attorneys and accountants designated by the
Holders, at reasonable times and in a reasonable manner, all pertinent financial
and other records, documents and properties of the Company and the Guarantor,
and cause the respective officers, directors

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and employees of the Company and the Guarantor to supply all information
reasonably requested by any such Inspector, Underwriter, attorney or accountant
in connection with a Shelf Registration Statement; provided that if any such
information is identified by the Company or any Guarantor as being confidential
or proprietary, each Person receiving such information shall take such actions
as are reasonably necessary to protect the confidentiality of such information
to the extent such action is otherwise not inconsistent with, an impairment of
or in derogation of the rights and interests of any Inspector, Holder or
Underwriter);

         (n)      in the case of a Shelf Registration, use their reasonable best
efforts to cause all Registrable Securities to be listed on any securities
exchange or any automated quotation system on which similar securities issued or
guaranteed by the Company or any Guarantor are then listed if requested by the
Majority Holders, to the extent such Registrable Securities satisfy applicable
listing requirements;

         (o)      if reasonably requested by any Holder of Registrable
Securities covered by a Registration Statement, promptly incorporate in a
Prospectus supplement or post-effective amendment such information with respect
to such Holder as such Holder reasonably requests to be included therein and
make all required filings of such Prospectus supplement or such post-effective
amendment as soon as the Company has received notification of the matters to be
incorporated in such filing; and

         (p)      in the case of a Shelf Registration, enter into such customary
agreements and take all such other actions in connection therewith (including
those requested by the Holders of a majority in principal amount of the
Registrable Securities being sold) in order to expedite or facilitate the
disposition of such Registrable Securities including, but not limited to, an
Underwritten Offering and in such connection, (i) to the extent possible, make
such representations and warranties to the Holders and any Underwriters of such
Registrable Securities with respect to the business of the Company and its
subsidiaries, the Registration Statement, Prospectus and documents incorporated
by reference or deemed incorporated by reference, if any, in each case, in form,
substance and scope as are customarily made by issuers to underwriters in
underwritten offerings and confirm the same if and when reasonably requested,
(ii) use reasonable best efforts to obtain opinions of counsel to the Company
and the Guarantor (which counsel and opinions, in form, scope and substance,
shall be reasonably satisfactory to the Holders and such Underwriters and their
respective counsel) addressed to each selling Holder and Underwriter of
Registrable Securities, covering the matters customarily covered in opinions
requested in underwritten offerings, (iii) use reasonable best efforts to obtain
"comfort" letters from the independent certified public accountants of the
Company and the Guarantor (and, if necessary, any other certified public
accountant of any subsidiary of the Company or any Guarantor, or of any business
acquired by the Company or any Guarantor for which financial statements and
financial data are or are required to be included in the Registration Statement)
addressed to each selling Holder and Underwriter of Registrable Securities, such
letters to be in customary form and covering matters of the type customarily
covered in "comfort" letters in connection with underwritten offerings and (iv)
deliver such documents and certificates as may be reasonably requested by the

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Holders of a majority in principal amount of the Registrable Securities being
sold or the Underwriters, and which are customarily delivered in underwritten
offerings, to evidence the continued validity of the representations and
warranties of the Company and the Guarantor made pursuant to clause (i) above
and to evidence compliance with any customary conditions contained in an
underwriting agreement.

         In the case of a Shelf Registration Statement, the Company may require
each Holder of Registrable Securities to furnish to the Company such information
regarding such Holder and the proposed disposition by such Holder of such
Registrable Securities as the Company and the Guarantor may from time to time
reasonably request in writing.

         In the case of a Shelf Registration Statement, each Holder of
Registrable Securities agrees that, upon receipt of any notice from the Company
and the Guarantor of the happening of any event of the kind described in Section
3(e)(iii) or 3(e)(v) hereof, such Holder will forthwith discontinue disposition
of Registrable Securities pursuant to a Registration Statement and the related
Prospectus until such Holder's receipt of the copies of the supplemented or
amended Prospectus contemplated by Section 3(i) hereof and, if so directed by
the Company and the Guarantor, such Holder will deliver to the Company and the
Guarantor all copies in its possession, other than permanent file copies then in
such Holder's possession, of the Prospectus covering such Registrable Securities
that is current at the time of receipt of such notice.

         If the Company and the Guarantor shall give any such notice to suspend
the disposition of Registrable Securities pursuant to a Registration Statement,
the Company and the Guarantor shall extend the period during which the
Registration Statement shall be maintained effective pursuant to this Agreement
by the number of days during the period from and including the date of the
giving of such notice to and including the date when the Holders shall have
received copies of the supplemented or amended Prospectus necessary to resume
such dispositions. The Company and the Guarantor may give any such notice only
twice during any 365-day period and any such suspensions shall not exceed 30
days for each suspension and there shall not be more than two suspensions in
effect during any 365-day period.

         The Holders of Registrable Securities covered by a Shelf Registration
Statement who desire to do so may sell such Registrable Securities in an
Underwritten Offering. In any such Underwritten Offering, the investment banker
or investment bankers and manager or managers (the "Underwriters") that will
administer the offering will be selected by the Majority Holders of the
Registrable Securities included in such offering.

         4.       Participation of Broker-Dealers in Exchange Offer. (a) The
Staff of the SEC has taken the position that any broker-dealer that receives
Exchange Securities for its own account in the Exchange Offer in exchange for
Securities that were acquired by such broker-dealer as a result of market-making
or other trading activities (a "Participating Broker-Dealer") may be deemed to
be an "underwriter" within the meaning of the Securities Act and must deliver a
prospectus meeting the requirements of the Securities Act in connection with any
resale of such Exchange Securities.

                                       12
<PAGE>

         The Company and the Guarantor understand that it is the Staff's
position that if the Prospectus contained in the Exchange Offer Registration
Statement includes a plan of distribution containing a statement to the above
effect and the means by which Participating Broker-Dealers may resell the
Exchange Securities, without naming the Participating Broker-Dealers or
specifying the amount of Exchange Securities owned by them, such Prospectus may
be delivered by Participating Broker-Dealers to satisfy their prospectus
delivery obligation under the Securities Act in connection with resales of
Exchange Securities for their own accounts, so long as the Prospectus otherwise
meets the requirements of the Securities Act.

         (b)      In light of the above, and notwithstanding the other
provisions of this Agreement, the Company and the Guarantor agree to amend or
supplement the Prospectus contained in the Exchange Offer Registration
Statement, as would otherwise be contemplated by Section 3(i), for a period of
up to 180 days after the last Exchange Date (as such period may be extended
pursuant to the penultimate paragraph of Section 3 of this Agreement), if
requested by the Initial Purchasers or by one or more Participating
Broker-Dealers, in order to expedite or facilitate the disposition of any
Exchange Securities by Participating Broker-Dealers consistent with the
positions of the Staff recited in Section 4(a) above. The Company and the
Guarantor further agree that Participating Broker-Dealers shall be authorized to
deliver such Prospectus during such period in connection with the resales
contemplated by this Section 4.

         (c)      The Initial Purchasers shall have no liability to the Company,
any Guarantor or any Holder with respect to any request that they may make
pursuant to Section 4(b) above.

         5.       Indemnification and Contribution. (a) The Company and the
Guarantor, jointly and severally, agree to indemnify and hold harmless each
Initial Purchaser and each Holder, their respective affiliates, directors and
officers and each Person, if any, who controls any Initial Purchaser or any
Holder within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act, from and against any and all losses, claims, damages and
liabilities (including, without limitation, legal fees and other expenses
incurred in connection with any suit, action or proceeding or any claim
asserted, as such fees and expenses are incurred), joint or several, that arise
out of, or are based upon, any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement or any Prospectus or any
omission or alleged omission to state therein a material fact required to be
stated therein or necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading, except
insofar as such losses, claims, damages or liabilities arise out of, or are
based upon, any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with any information relating
to any Initial Purchaser or any Holder furnished to the Company in writing
through J.P. Morgan Securities Inc. or any selling Holder expressly for use
therein. In connection with any Underwritten Offering permitted by Section 3,
the Company and the Guarantor, jointly and severally, will also indemnify the
Underwriters, if any, selling brokers, dealers and

                                       13
<PAGE>

similar securities industry professionals participating in the distribution,
their respective affiliates and each Person who controls such Persons (within
the meaning of the Securities Act and the Exchange Act) to the same extent as
provided above with respect to the indemnification of the Holders, if requested
in connection with any Registration Statement.

         (b)      Each Holder agrees, severally and not jointly, to indemnify
and hold harmless the Company, the Guarantor, the Initial Purchasers and the
other selling Holders, their respective affiliates, the directors of the Company
and the Guarantor, each officer of the Company and the Guarantor who signed the
Registration Statement and each Person, if any, who controls the Company, the
Guarantor, any Initial Purchaser and any other selling Holder within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act to the
same extent as the indemnity set forth in paragraph (a) above, but only with
respect to any losses, claims, damages or liabilities that arise out of, or are
based upon, any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with any information relating
to such Holder furnished to the Company in writing by such Holder expressly for
use in any Registration Statement and any Prospectus.

         (c)      If any suit, action, proceeding (including any governmental or
regulatory investigation), claim or demand shall be brought or asserted against
any Person in respect of which indemnification may be sought pursuant to either
paragraph (a) or (b) above, such Person (the "Indemnified Person") shall
promptly notify the Person against whom such indemnification may be sought (the
"Indemnifying Person") in writing; provided that the failure to notify the
Indemnifying Person shall not relieve it from any liability that it may have
under this Section 5 except to the extent that it has been materially prejudiced
(through the forfeiture of substantive rights or defenses) by such failure; and
provided, further, that the failure to notify the Indemnifying Person shall not
relieve it from any liability that it may have to an Indemnified Person
otherwise than under this Section 5. If any such proceeding shall be brought or
asserted against an Indemnified Person and it shall have notified the
Indemnifying Person thereof, the Indemnifying Person shall retain counsel
reasonably satisfactory to the Indemnified Person to represent the Indemnified
Person and any others entitled to indemnification pursuant to this Section 5
that the Indemnifying Person may designate in such proceeding and shall pay the
reasonable fees and expenses of such counsel related to such proceeding, as
incurred. In any such proceeding, any Indemnified Person shall have the right to
retain its own counsel, but the fees and expenses of such counsel shall be at
the expense of such Indemnified Person unless (i) the Indemnifying Person and
the Indemnified Person shall have mutually agreed to the contrary; (ii) the
Indemnifying Person has failed within a reasonable time to retain counsel
reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person
shall have reasonably concluded that there may be legal defenses available to it
that are different from or in addition to those available to the Indemnifying
Person; or (iv) the named parties in any such proceeding (including any
impleaded parties) include both the Indemnifying Person and the Indemnified
Person and representation of both parties by the same counsel would be
inappropriate due to actual or potential differing interests between them. It is
understood and agreed that the Indemnifying Person shall not, in

                                       14
<PAGE>

connection with any proceeding or related proceeding in the same jurisdiction,
be liable for the fees and expenses of more than one separate firm (in addition
to any local counsel) for all Indemnified Persons, and that all such reasonable
fees and expenses shall be reimbursed as they are incurred. Any such separate
firm (x) for any Initial Purchaser, its affiliates, directors and officers and
any control Persons of such Initial Purchaser shall be designated in writing by
J.P. Morgan Securities Inc., (y) for any Holder, its affiliates, directors and
officers and any control Persons of such Holder shall be designated in writing
by the Majority Holders and (z) in all other cases shall be designated in
writing by the Company. The Indemnifying Person shall not be liable for any
settlement of any proceeding effected without its written consent, but if
settled with such consent or if there be a final judgment for the plaintiff, the
Indemnifying Person agrees to indemnify each Indemnified Person from and against
any loss or liability by reason of such settlement or judgment. Notwithstanding
the foregoing sentence, if at any time an Indemnified Person shall have
requested that an Indemnifying Person reimburse the Indemnified Person for fees
and expenses of counsel as contemplated by this paragraph, the Indemnifying
Person shall be liable for any settlement of any proceeding effected without its
written consent if (i) such settlement is entered into more than 30 days after
receipt by the Indemnifying Person of such request and (ii) the Indemnifying
Person shall not have reimbursed the Indemnified Person in accordance with such
request prior to the date of such settlement. No Indemnifying Person shall,
without the written consent of the Indemnified Person, effect any settlement of
any pending or threatened proceeding in respect of which any Indemnified Person
is or could have been a party and indemnification could have been sought
hereunder by such Indemnified Person, unless such settlement (A) includes an
unconditional release of such Indemnified Person, in form and substance
reasonably satisfactory to such Indemnified Person, from all liability on claims
that are the subject matter of such proceeding and (B) does not include any
statement as to or any admission of fault, culpability or a failure to act by or
on behalf of any Indemnified Person.

         (d)      If the indemnification provided for in paragraphs (a) and (b)
above is unavailable to an Indemnified Person or insufficient in respect of any
losses, claims, damages or liabilities referred to therein, then each
Indemnifying Person under such paragraph, in lieu of indemnifying such
Indemnified Person thereunder, shall contribute to the amount paid or payable by
such Indemnified Person as a result of such losses, claims, damages or
liabilities (i) in such proportion as is appropriate to reflect the relative
benefits received by the Company and the Guarantor from the offering of the
Securities and the Exchange Securities, on the one hand, and by the Holders from
receiving Securities or Exchange Securities registered under the Securities Act,
on the other hand, or (ii) if the allocation provided by clause (i) is not
permitted by applicable law, in such proportion as is appropriate to reflect not
only the relative benefits referred to in clause (i) but also the relative fault
of the Company and the Guarantor on the one hand and the Holders on the other in
connection with the statements or omissions that resulted in such losses,
claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative fault of the Company and the Guarantor on the one
hand and the Holders on the other shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to
information supplied by the Company and the

                                       15
<PAGE>

Guarantor or by the Holders and the parties' relative intent, knowledge, access
to information and opportunity to correct or prevent such statement or omission.

         (e)      The Company, the Guarantor and the Holders agree that it would
not be just and equitable if contribution pursuant to this Section 5 were
determined by pro rata allocation (even if the Holders were treated as one
entity for such purpose) or by any other method of allocation that does not take
account of the equitable considerations referred to in paragraph (d) above. The
amount paid or payable by an Indemnified Person as a result of the losses,
claims, damages and liabilities referred to in paragraph (d) above shall be
deemed to include, subject to the limitations set forth above, any legal or
other expenses incurred by such Indemnified Person in connection with any such
action or claim. Notwithstanding the provisions of this Section 5, in no event
shall a Holder be required to contribute any amount in excess of the amount by
which the total price at which the Securities or Exchange Securities sold by
such Holder exceeds the amount of any damages that such Holder has otherwise
been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No Person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any Person who was not guilty of such fraudulent
misrepresentation.

         (f)      The remedies provided for in this Section 5 are not exclusive
and shall not limit any rights or remedies that may otherwise be available to
any Indemnified Person at law or in equity.

         (g)      The indemnity and contribution provisions contained in this
Section 5 shall remain operative and in full force and effect regardless of (i)
any termination of this Agreement, (ii) any investigation made by or on behalf
of the Initial Purchasers or any Holder, their respective affiliates or any
Person controlling any Initial Purchaser or any Holder, or by or on behalf of
the Company or the Guarantor, their respective affiliates or the officers or
directors of or any Person controlling the Company or the Guarantor, (iii)
acceptance of any of the Exchange Securities and (iv) any sale of Registrable
Securities pursuant to a Shelf Registration Statement.

         6.       General.

         (a)      No Inconsistent Agreements. The Company and the Guarantor
represent, warrant and agree that (i) the rights granted to the Holders
hereunder do not in any way conflict with and are not inconsistent with the
rights granted to the holders of any other outstanding securities issued or
guaranteed by the Company or any Guarantor under any other agreement and (ii)
neither the Company nor any Guarantor has entered into, or on or after the date
of this Agreement will enter into, any agreement that is inconsistent with the
rights granted to the Holders of Registrable Securities in this Agreement or
otherwise conflicts with the provisions hereof.

         (b)      Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and

                                       16
<PAGE>

waivers or consents to departures from the provisions hereof may not be given
unless the Company and the Guarantor have obtained the written consent of
Holders of at least a majority in aggregate principal amount of the outstanding
Registrable Securities affected by such amendment, modification, supplement,
waiver or consent; provided that no amendment, modification, supplement, waiver
or consent to any departure from the provisions of Section 5 hereof shall be
effective as against any Holder of Registrable Securities unless consented to in
writing by such Holder. Any amendments, modifications, supplements, waivers or
consents pursuant to this Section 6(b) shall be by a writing executed by each of
the parties hereto.

         (c)      Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, registered
first-class mail, telex, telecopier, or any courier guaranteeing overnight
delivery (i) if to a Holder, at the most current address given by such Holder to
the Company by means of a notice given in accordance with the provisions of this
Section 6(c), which address initially is, with respect to the Initial
Purchasers, the address set forth in the Purchase Agreement; (ii) if to the
Company and the Guarantor, initially at the Company's address set forth in the
Purchase Agreement and thereafter at such other address, notice of which is
given in accordance with the provisions of this Section 6(c); and (iii) to such
other persons at their respective addresses as provided in the Purchase
Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(c). All such notices and
communications shall be deemed to have been duly given: at the time delivered by
hand, if personally delivered; five Business Days after being deposited in the
mail, postage prepaid, if mailed; when answered back, if telexed; when receipt
is acknowledged, if telecopied; and on the next Business Day if timely delivered
to an air courier guaranteeing overnight delivery. Copies of all such notices,
demands or other communications shall be concurrently delivered by the Person
giving the same to the Trustee, at the address specified in the Indenture.

         (d)      Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors, assigns and transferees of each
of the parties, including, without limitation and without the need for an
express assignment, subsequent Holders; provided that nothing herein shall be
deemed to permit any assignment, transfer or other disposition of Registrable
Securities in violation of the terms of the Purchase Agreement or the Indenture.
If any transferee of any Holder shall acquire Registrable Securities in any
manner, whether by operation of law or otherwise, such Registrable Securities
shall be held subject to all the terms of this Agreement, and by taking and
holding such Registrable Securities such Person shall be conclusively deemed to
have agreed to be bound by and to perform all of the terms and provisions of
this Agreement and such Person shall be entitled to receive the benefits hereof.
The Initial Purchasers (in their capacity as Initial Purchasers) shall have no
liability or obligation to the Company or the Guarantor with respect to any
failure by a Holder to comply with, or any breach by any Holder of, any of the
obligations of such Holder under this Agreement.

         (e)      Third Party Beneficiaries. Each Holder shall be a third party
beneficiary to the agreements made hereunder between the Company and the
Guarantor, on the one hand, and the Initial Purchasers, on the other hand, and
shall have the right to enforce

                                       17
<PAGE>

such agreements directly to the extent it deems such enforcement necessary or
advisable to protect its rights or the rights of other Holders hereunder.

         (f)      Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

         (g)      Headings. The headings in this Agreement are for convenience
of reference only, are not a part of this Agreement and shall not limit or
otherwise affect the meaning hereof.

         (h)      Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York.

         (i)      Miscellaneous. This Agreement contains the entire agreement
between the parties relating to the subject matter hereof and supersedes all
oral statements and prior writings with respect thereto. If any term, provision,
covenant or restriction contained in this Agreement is held by a court of
competent jurisdiction to be invalid, void or unenforceable or against public
policy, the remainder of the terms, provisions, covenants and restrictions
contained herein shall remain in full force and effect and shall in no way be
affected, impaired or invalidated. The Company, the Guarantor and the Initial
Purchasers shall endeavor in good faith negotiations to replace the invalid,
void or unenforceable provisions with valid provisions the economic effect of
which comes as close as possible to that of the invalid, void or unenforceable
provisions.

                                       18
<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

                                              NEBRASKA BOOK COMPANY, INC.

                                              By ______________________________
                                                  Title:

                                              SPECIALTY BOOKS, INC.

                                              By ______________________________
                                                  Title:

Confirmed and accepted as of the date first above written:

J.P. MORGAN SECURITIES INC.

For itself and on behalf of the
several Initial Purchasers

By___________________________
    Authorized Signatory

                                       19<PAGE>
                                                                   EXHIBIT 10.34

                               NBC HOLDINGS CORP.
                             2004 STOCK OPTION PLAN

SECTION 1.    PURPOSE.

         The purpose of this Plan is to promote the interests of NBC Holdings
Corp. (the "Company") and its Affiliates, by (a) attracting, motivating and
retaining executive personnel of outstanding ability; (b) focusing the attention
of executive management on achievement of sustained long term results; (c)
fostering management's attention on overall corporate performance and thereby
promoting cooperation and teamwork among management of the operating units; and
(d) providing executives with a direct economic interest in the attainment of
demanding long term business objectives.

SECTION 2.    ADMINISTRATION.

         2.1  The Plan shall be administered by a committee (the "Committee")
appointed by the Board of Directors of the Company (the "Board"), which
Committee shall consist of two or more directors. It is intended that each
director appointed to serve on the Committee shall be a "non-employee director"
(within the meaning of Rule 16b-3 promulgated under the Securities Exchange Act
of 1934 (the "Act") or a person meeting any similar requirement under any
successor rule or regulation and an "outside director" (within the meaning of
section 162(m) of the Internal Revenue Code of 1986, as amended (the "Code") and
the treasury regulations promulgated thereunder) to the extent Rule 16b and Code
section 162(m), respectively, are applicable; however, the mere fact that a
Committee member shall fail to qualify under either of the foregoing
requirements shall not invalidate any award made by the Committee which award is
otherwise validly made under the Plan. The members of the Committee may be
changed at any time and from time to time in the discretion of, the Board.

         2.2  The Committee shall have the authority (a) to exercise all of the
powers granted to it under the Plan, (b) to construe, interpret and implement
the Plan and any option agreements executed pursuant to the Plan, (c) to
prescribe, amend and rescind rules relating to the Plan, (d) to make any
determination necessary or advisable in administering the Plan, (e) to correct
any defect, supply any omission and reconcile any inconsistency in the Plan, (f)
to establish, amend, suspend, or waive such rules and regulations and appoint
such agents as it shall deem appropriate for the proper administration of the
Plan and (g) generally, to make any and all determinations or adjustments and
take any other action specified under the Plan or that the Committee deems
appropriate, necessary, or desirable to reflect the intent and purposes of the
Plan.

         2.3  Unless otherwise expressly provided in the Plan, all designations,
determinations, interpretations, and other decisions under or with respect to
the Plan or any option or any option agreement pursuant to the Plan shall be
within the sole discretion of the Committee, may be made at any time and shall
be final, conclusive and binding upon all parties, including, without
limitation, the Company, any of its Affiliates, any grantee, any holder or
beneficiary of any option, and any shareholder.

         2.4  No member of the Committee shall be liable for any action or
determination made in good faith with respect to the Plan or any option granted
hereunder.

         2.5  Notwithstanding anything to the contrary contained herein: (a)
until the Board shall appoint the members of the Committee, the Plan shall be
administered by the Board, and (b)

<PAGE>

the Board may, in its sole discretion, at any time and from time to time,
resolve to administer the Plan. In either of the foregoing events, the term
Committee as used herein shall mean the Board.

SECTION 3.    ELIGIBILITY.

         Options under the Plan may be granted to such employees, officers and
employee directors) of the Company and its Affiliates ("Eligible Employees") as
the Committee shall from time to time in its sole discretion select. The
Committee may, but shall not be required to, consult with such executives of the
Company and its Affiliates as it deems appropriate prior to making such grants.

SECTION 4.    SHARES OF STOCK SUBJECT TO THE PLAN.

         4.1  Reserved Shares. Subject to Section 11 (relating to adjustments
upon changes in capitalization), the aggregate number of shares of Stock (as
defined in Section 6) that may be acquired under the Plan by any one Eligible
Employee and by all Eligible Employees pursuant to options granted hereunder
shall not exceed 81,306 shares. Shares of Stock covered by options granted under
the Plan, which options expire, terminate or are canceled for any reason (other
than an option, or part thereof, that is canceled by the Committee and for which
cash is paid in respect thereof) shall again become available for award under
the Plan.

         4.2  Type of Shares. Shares of Stock that shall be subject to issuance
pursuant to the Plan shall be authorized and unissued shares or treasury shares.

SECTION 5.    STOCK OPTIONS.

         5.1  Grant and Type of Stock Options.

         (a)  General. Subject to the terms of the Plan, the Committee may grant
options to purchase shares of Stock in such amounts and subject to such terms
and conditions as the Committee shall from time to time in its sole discretion
determine.

         (b)  Types of Options Under Plan.

                  (i) Options granted under the Plan may be either (A)
         "nonqualified" stock options subject to the provisions of Code section
         83, or (B) options intended to qualify for incentive stock option
         treatment described in section 422 of the Code; provided, however, that
         incentive stock options may only be granted to employees of the Company
         or its "Parent Corporation" or "Subsidiary Corporation" as those terms
         are defined in Code section 424.

                  (ii) All options when granted are intended to be nonqualified
         stock options, unless the applicable option agreement explicitly states
         that the option is intended to be an incentive stock option. If an
         option is intended to be an incentive stock option, and if for any
         reason such option (or any portion thereof) shall not qualify as an
         incentive stock option, then, to the extent of such nonqualification,
         such option (or portion) shall be regarded as a nonqualified stock
         option appropriately granted under the Plan; provided that such option
         (or portion) otherwise meets the Plan's requirements relating to
         nonqualified stock options.

         5.2      Agreements Evidencing Options.

<PAGE>

         (a)  General. Options granted under the Plan shall be evidenced by
written agreements, which shall (i) contain such provisions, not inconsistent
with the terms of the Plan, as the Committee may in its sole discretion deem
necessary or desirable and (ii) be referred to herein as "option agreements." If
the grantee is party to an employment or consulting agreement, the terms of
which relate to stock options and which are inconsistent with the terms of any
such option agreement, the terms of such option agreement shall govern.

         (b)  Certain Terms. Each option agreement shall set forth the number of
shares of Stock subject to the option granted thereby and the amount (the
"option exercise price") payable by the grantee to the Company in connection
with the exercise of the option evidenced thereby. The exercise price per share
shall not be less than the Fair Market Value of a share of Stock on the date the
option is granted. Each option agreement shall set forth conditions subject to
which the option evidenced thereby shall become exercisable.

         5.3  Exercisability of Options.

         (a)  Standard Exercise Provisions. Subject to Section 5.5 and the other
terms of the Plan or as otherwise determined by the Committee and subject to the
provisions of the applicable option agreement:

                  (i) In the Committee's sole discretion, each option or portion
         thereof may become exercisable with respect to all or a portion of the
         shares of Stock subject thereto in the event of a Change of Control (as
         defined in Section 6);

                  (ii) Each option shall terminate and cease to be exercisable
         on the tenth anniversary of the date of grant thereof; and

                  (iii) Each option, once exercisable may be exercised from time
         to time as to all or part of the full number of shares as to which such
         option shall then be exercisable.

         (b)  Notice of Exercise; Exercise Date.

                  (i) An option shall be exercisable by the filing of a written
         notice of exercise with the Company, on such form and in such manner as
         the Committee shall in its sole discretion prescribe, and by payment in
         accordance with Section 5.4.

                  (ii) For purposes of the Plan, the "option exercise date"
         shall be deemed to be the first business day immediately following the
         date written notice of exercise is received by the Company.

         5.4  Payment of Option Price.

         (a) Tender Due Upon Notice of Exercise. Unless the applicable option
agreement otherwise provides or the Committee in its sole discretion otherwise
determines, (i) any written notice of exercise of an option shall be accompanied
by payment of the full purchase price for the shares being purchased and (ii)
the grantee shall have no right to receive shares of Stock with respect to an
option exercise prior to the option exercise date.

         (b)  Manner of Payment. Payment of the option exercise price shall be
made in accordance with any of the following methods:

<PAGE>

                  (i) by certified or official bank check payable to the Company
         (or the equivalent thereof acceptable to the Committee);

                  (ii) with the consent of the Committee in its sole discretion,
         by personal check (subject to collection);

                  (iii) if and to the extent provided in the applicable option
         agreement, by delivery of previously acquired shares of Stock owned by
         the grantee for at least six months having a Fair Market Value
         (determined as of the option exercise date) equal to the portion of the
         option exercise price being paid thereby, provided that the Committee
         may require the grantee to furnish an opinion of counsel acceptable to
         the Committee to the effect that such delivery would not result in the
         grantee incurring any liability under Section 16(b) of the Act and does
         not require any Consent (as defined in Section 8.2);

                  (iv) any combination of (i), (ii) and (iii); and

                  (v) in any other manner permitted by law, as approved by the
         Committee in its sole discretion.

         (c)  Issuance of Shares. As soon as practicable after receipt of full
payment, the Company shall, subject to the provisions of Section 8, deliver to
the grantee one or more certificates for the shares of Stock so purchased, which
certificates may bear such legends as the Company may deem appropriate
concerning restrictions on the disposition of the shares in accordance with
applicable securities laws, rules and regulations or otherwise.

         5.5  Termination of Employment. All options granted to a grantee shall
terminate and no longer be exercisable upon such grantee's termination of
employment with the Company or any of its Affiliates for any reason, including
for Cause, except to the extent post-employment exercise of the exercisable
portion of an option is permitted in accordance with the applicable option
agreement and Section 5.3.

         5.6  Special Incentive Stock Option Requirements.

         (a)  Term. No incentive stock option may have a term in excess of ten
years.

         (b)  10% Owner. If an option granted under the Plan is intended to be
an incentive stock option and if the grantee, at the time of grant, owns stock
possessing 10% or more of the total combined voting power of all classes of
stock of the grantee's employer corporation or of its parent or subsidiary
corporation, then (a) the option exercise price per share shall in no event be
less than 110% of the Fair Market Value of the Stock on the date of such grant
and (b) such option shall not be exercisable after the expiration of five years
after the date such option is granted.

         (c)  $100,000 Per Year Limitation for Incentive Stock Options. To the
extent the aggregate Fair Market Value (determined as of the date of grant) of
Stock for which incentive stock options are exercisable for the first time by
any grantee during any calendar year (under all equity plans of the Company)
exceeds $100,000, such excess incentive stock options shall be treated as
nonqualified stock options.

SECTION 6.    CERTAIN DEFINITIONS.

<PAGE>
         6.1  "Affiliate" shall mean, any person or entity which, at the time of
reference, directly, or indirectly through one or more intermediaries, controls,
is controlled by, or is under common control with, the Company.

         6.2  "Cause" shall mean (i) the grantee's neglect of his or her duties,
(ii) the grantee is convicted of any felony or gross misdemeanor (except
traffic-related), (iii) the grantee is guilty of gross misconduct in connection
with the performance of his or her duties, (iv) the grantee materially breaches
any affirmative or negative covenants or undertakings under any employment or
other agreement with the Company or an Affiliate, or (v) the grantee terminates
his or her employment with the Company or any of its Affiliates and the
Committee determines, within 90 days after the grantee's termination date, that
the grantee's employment could have been terminated for Cause pursuant to any of
the foregoing clauses (i) through (iv).

         6.3  "Change of Control" shall mean, with respect to the Company, a
transaction pursuant to which a person or group (as such term is used in Section
13(d)(3) of the Securities Exchange Act of 1934 (the "Act")), other than Weston
Presidio Capital and its Affiliates, acquires the collective ability to
designate, directly or indirectly, a majority of the members of the Board
(whether by contract or otherwise).

         6.4  "Effective Date" shall mean March 4, 2004.

         6.5  "Fair Market Value" shall mean as of any date in respect of any
share of Stock traded on a national securities exchange or on the National
Market System of the National Association of Securities Dealers Automated
Quotation System (the "Nasdaq"), the closing price of a share of Stock as
reported on the exchange on which such shares primarily trade or the Nasdaq, as
applicable, on such date. If Stock is not traded on any such exchange or the
Nasdaq on such date, Fair Market Value shall be determined by the Committee in
its sole discretion.

         6.6  "Plan" shall mean this NBC Holdings Corp. 2004 Stock Option Plan.

         6.7  "Stock" shall mean common stock, par value $.001 per share, of the
Company as constituted on the Effective Date, and any other shares into which
such common stock shall thereafter be changed by reason of a recapitalization,
merger, consolidation, split-up, combination, exchange of shares or the like.

SECTION 7.    AMENDMENT OF THE PLAN; MODIFICATION OF OPTIONS.

         7.1  Plan Amendments. The Board may at any time and from time to time
alter, suspend, discontinue, amend or terminate the Plan in any respect
whatsoever, except that (i) no such amendment, termination or action shall
materially and adversely impair any rights under any option theretofore granted
under the Plan without either providing fair consideration to the grantee of
such option or obtaining the consent of the grantee of such option and (ii) no
such amendment, termination or action for which shareholder approval would be
required under any law, (including Code section 162(m) and Rule 16b-3, to the
extent applicable) or the rules of any securities exchange or other regulatory
organization shall be effective without such shareholder approval.

<PAGE>

         7.2  Option Modifications. Subject to the terms and conditions of the
Plan (including Section 7.1), the Committee may amend outstanding option
agreements with such grantee, including, without limitation, any amendment that
would (i) accelerate the time or times at which an option may become exercisable
and/or (ii) extend the scheduled termination or expiration date of the option.
No such amendment shall materially and adversely impair any rights under any
option theretofore granted under the Plan, however, the Committee shall provide
fair consideration to the grantee of such option or obtain the consent of the
grantee of such option.

SECTION 8.    RESTRICTIONS.

         8.1  Consent Requirements. If the Committee shall at any time determine
that any Consent (as hereinafter defined) is necessary or desirable as a
condition of, or in connection with, the granting of any option under the Plan,
the acquisition, issuance or purchase of shares or other rights hereunder or the
taking of any other action hereunder (each such action, a "Plan Action"), then
such Plan Action shall not be taken, in whole or in part, unless and until such
Consent shall have been effected or obtained to the full satisfaction of the
Committee. Without limiting the generality of the foregoing, if (i) the Company
may make any payment under the Plan in cash, Stock or both and (ii) the
Committee determines that a Consent is necessary or desirable as a condition of,
or in connection with, payment in any one or more of such forms, then the
Committee shall be entitled to determine not to make any payment whatsoever
until such Consent has been obtained.

         8.2  Consent Defined. The term "Consent" as used herein with respect to
any Plan Action means (a) any and all listings, registrations or qualifications
in respect thereof upon any securities exchange to other regulatory organization
or under any federal, state or local law, rule or regulation, (b) the
expiration, elimination or satisfaction of any prohibitions, restrictions or
limitations under any federal, state or local law, rule or regulation or the
rules of any securities exchange or other regulatory organization, (c) any and
all written agreements and representations by the grantee with respect to the
disposition of shares, or with respect to any other matter which the Committee
shall deem necessary or desirable to comply with the terms of any such listing,
registration or qualification or to obtain an exemption from the requirement
that any such listing, qualification or registration be made, and (d) any and
all consents, waivers, clearances and approvals in respect of a Plan Action by
any governmental or other regulatory bodies or any parties to any loan
agreements or other contractual obligations of the Company or any of its
Affiliates.

SECTION 9.    NONTRANSFERABILITY.

         During the lifetime of the grantee, all rights with respect to any
option granted to the grantee shall be exercisable only by the grantee or the
grantee's court-appointed legal representative. No option may be assigned,
alienated, pledged, attached, sold or otherwise transferred or encumbered by a
grantee otherwise than by will or by the laws of descent and distribution and
any such purported assignment, alienation, pledge, attachment, sale, transfer or
encumbrance shall be void and unenforceable against the Company or its
Affiliates; provided that the designation of a beneficiary shall not constitute
an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.
Notwithstanding the foregoing, the Committee may provide in an applicable option
agreement that a nonqualified stock option may be transferred, without
consideration, for estate planning purposes, to a family trust or family
partnership for the benefit of immediate members of the grantee's family.

<PAGE>

SECTION 10.   WITHHOLDING TAXES.

         10.1 General. Whenever under the Plan shares of Stock are to be
delivered pursuant to the exercise of an option, the Committee may require as a
condition of delivery that the grantee remit an amount sufficient to satisfy all
federal, state and other governmental withholding tax requirements related
thereto. Whenever cash is to be paid under the Plan, the Company may, as a
condition of its payment, deduct therefrom, or from any salary or other payments
due to the grantee, an amount sufficient to satisfy all federal, state and other
governmental withholding tax requirements related thereto or to the delivery of
any shares of Stock under the Plan.

         10.2 Use of Shares. Subject to the Committee's consent, a grantee may
elect to satisfy all or part of the foregoing withholding requirements (a) by
delivery of unrestricted shares of Stock owned by the grantee for at least six
months (or such other period as the Committee may determine) having a Fair
Market Value (determined as of the date of such delivery by the grantee) equal
to all or part of the amount to be so withheld; provided that the Committee may
require, as a condition of accepting any such delivery, the grantee to furnish
an opinion of counsel acceptable to the Committee to the effect that such
delivery would not result in the grantee incurring any liability under Section
16(b) of the Act or any other federal or state securities laws, rules or
regulations, or (b) by having the Company withhold from the number of shares of
Stock otherwise issuable pursuant to the exercise or settlement of an option a
number of shares of Stock with a Fair Market Value equal to such withholding
liability.

SECTION 11.   ADJUSTMENTS.

         11.1 Upon Changes in Capitalization. To the extent specified by the
Committee, the number of shares of Stock that may be issued pursuant to options
under the Plan, the number of shares of Stock subject to options, the exercise
price of options theretofore granted under the Plan and the amount payable by a
grantee in respect of an option shall be appropriately adjusted (as the
Committee may determine) for any change in the number of issued shares of Stock
resulting from the subdivision or combination of shares of Stock or other
capital adjustments, or the payment of a stock dividend after the Effective
Date, or other change in such shares of Stock effected without receipt of
consideration by the Company; provided that any options covering fractional
shares of Stock resulting from any such adjustment shall be eliminated.
Adjustments under this Section 11 shall be made by the Committee, whose
determination as to what adjustments shall be made, and the extent thereof,
shall be final, binding and conclusive.

         11.2 Other. In the event of any acquisition, divestiture or any other
corporate transaction of any kind involving the Company or its Affiliates which
the Committee, in its discretion, determines to be of such a kind or nature as
to make appropriate an amendment or adjustment to the Plan in order to
effectuate the intent and purposes of the Plan, the Committee, in its
discretion, may make such amendment or adjustment.

SECTION 12.   RIGHT OF DISCHARGE RESERVED.

         Nothing in the Plan or in any option agreement shall confer upon any
person the right to continue in the employ of the Company or any Affiliate or
affect or restrict any right which the Company or any Affiliate may have to
terminate the employment of such person.

<PAGE>

SECTION 13.   NO RIGHTS TO AWARDS; NO RIGHTS AS A SHAREHOLDER.

         (a)  No employee, officer or employee director of the Company or any of
its Affiliates or other person shall have any claim or right to be granted an
option under the Plan or, having been selected the grant of an option, to be
selected for a grant of any other option.

         (b)  No grantee or other person shall have any of the rights of a
shareholder of the Company with respect to shares of Stock subject to an option
until the issuance of a stock certificate to such grantee for such shares of
Stock. Except as otherwise provided in Section 11, no adjustment shall be made
for dividends, distributions or other rights (whether ordinary or extraordinary,
and whether in cash, securities or other property) for which the record date is
prior to the date such stock certificate is issued.

SECTION 14.   NATURE OF PAYMENTS.

         14.1 Consideration. All options, shares or payments hereunder shall be
granted, issued, delivered or paid, as the case may be, in consideration of
services performed for the Company or for its Affiliates by the grantee.

         14.2 Other Plans. No options, shares or payments hereunder shall,
unless otherwise determined by the Committee, be taken into account in computing
the grantee's salary or compensation for the purposes of determining any
benefits under (a) any pension, retirement, life insurance or other benefit plan
of the Company or any Affiliate or (b) any agreement between the Company or any
Affiliate and the grantee.

         14.3 Waiver. By accepting an option under the Plan, the grantee thereby
waives any claim to the continued exercisability of an option or to damages or
severance entitlement related to non-continuation of the option beyond the
period provided herein or in the applicable option agreement, notwithstanding
any contrary provision in any written employment contract with the grantee,
whether any such contract is executed before or after the grant date of the
option.

SECTION 15.   NON-UNIFORM DETERMINATIONS.

         The Committee's determinations under the Plan need not be uniform and
may be made by it selectively among persons who receive, or are eligible to
receive, options under the Plan (whether or not such persons are similarly
situated). Without limiting the generality of the foregoing, the Committee shall
be entitled, among other things, to make non-uniform and selective
determinations, and to enter into non-uniform and selective option agreements,
as to (a) the persons to receive options under the Plan and (b) the terms and
provisions of options under the Plan.

SECTION 16.   NON EXCLUSIVITY OF THE PLAN; OTHER PAYMENTS OR OPTIONS.

         Nothing contained in the Plan shall be deemed in any way to limit or
restrict the Company, any Affiliate or the Committee from making any option,
award or payment to any person under any other plan, arrangement or
understanding, whether now existing or hereafter in effect; provided, however,
that the option agreement may contain (but shall not be required to contain)
such provisions as the Committee deems appropriate to insure that the penalty
provisions of Code section 4999 will not apply with respect to any option
granted under the Plan.

<PAGE>

SECTION 17.   REORGANIZATION.

         In the event that the Company is merged or consolidated with another
corporation, (whether or not the Company shall be the surviving corporation), or
in the event there shall be any change in the shares of Stock by reason of such
merger or consolidation, or in the event that all or substantially all of the
assets of the Company are acquired by another person, or in the event of a
Change of Control after the date of the adoption of this Plan, or in the event
of a reorganization or liquidation of the Company (each such event, a
"Reorganization Event") or in the event that the Board shall propose that the
Company enter into a Reorganization Event, then the Committee may, in its
discretion, by written notice to a grantee, provide that such grantee's options
will be terminated unless exercised within 30 days (or such longer period as the
Committee shall determine in its sole discretion) after the date of such notice.
The Committee also may, in its discretion, by written notice to a grantee,
provide that all or some of the restrictions on any of his options may lapse in
the event of a Reorganization Event upon such terms and conditions as the
Committee may determine. In connection with the termination of a grantee's
option pursuant to this Section 17, the Committee may, in its sole discretion,
provide for consideration to be paid to a grantee in respect of such
termination. Whenever deemed appropriate by the Committee, the actions referred
to in this Section 17 may be made conditional upon the consummation of the
applicable Reorganization Event.

SECTION 18.   GOVERNING LAW.

         The Plan shall be governed by the laws of the State of Delaware without
regard to the principles of conflicts of laws thereof, or principles of
conflicts of laws of any other jurisdiction.

SECTION 19.   MISCELLANEOUS.

         (a)  Headings. The Section headings contained herein are for
convenience only and are not intended to define or limit the contents of said
Sections.

         (b)  Reliance on Reports. Each member of the Committee and each member
of the Board shall be fully justified in relying, acting or failing to act, and
shall not be liable for having so relied, acted or failed to act in good faith,
upon any report made by the independent public accountant of the Company and
upon any other information furnished in connection with the Plan by any person
or persons other than himself.

         (c)  Expenses. The expenses of administering the Plan shall be borne by
the Company and its Affiliates.

         (d)  Pronouns. Masculine pronouns and other words of masculine gender
shall refer to both men and women.

         (e)  Termination of Employment. Unless an applicable option agreement
provides otherwise, for purposes of the Plan a person who transfers from
employment with the Company to employment with an Affiliate or vice versa shall
not be deemed to have terminated employment with the Company or the Affiliate,
as the case may be.

         (f)  Severability. If any provision of the Plan or any option agreement
is or becomes or is deemed to be invalid, illegal, or unenforceable in any
jurisdiction or as to any person or option, or would disqualify the Plan or any
option under any law deemed applicable by the Committee, such provision shall be
construed or deemed amended to conform to the applicable

<PAGE>

laws, or if it cannot be construed or deemed amended without, in the
determination of the Committee, materially altering the intent of the Plan or
the option, such provision shall be stricken as to such jurisdiction, person or
option and the remainder of the Plan and any such option shall remain in full
force and effect.

         (g)  Payments to Persons Other Than Grantees. If the Committee shall
find that any person to whom any amount is payable under the Plan is unable to
care for his affairs because of illness or accident, or is a minor, or has died,
then any payment due to such person or his estate (unless a prior claim therefor
has been made by a duly appointed legal representative) may, if the Committee so
directs the Company, be paid to his spouse, child, relative, an institution
maintaining or having custody of such person, or any other person deemed by the
Committee to be a proper recipient on behalf of such person otherwise entitled
to payment. Any such payment shall be a complete discharge of the liability of
the Committee and the Company and its Affiliate therefor.

         (h)  No Liability of Committee Members. No member of the Committee
shall be personally liable by reason of any contract or other instrument
executed by such member or on his behalf in his capacity as a member of the
Committee nor for any mistake of judgment made in good faith, and the Company
shall indemnify and hold harmless each member of the Committee and each other
employee, officer or employee director of the Company to whom any duty or power
relating to the administration or interpretation of the Plan may be allocated or
delegated, against any cost or expense (including counsel fees) or liability
(including any sum paid in settlement of a claim) arising out of any act or
omission to act in connection with the Plan unless arising out of such person's
own fraud or willful bad faith; provided, however, that approval of the Board
shall be required for the payment of any amount in settlement of a claim against
any such person. The foregoing right of indemnification shall not be exclusive
of any other rights of indemnification to which such persons may be entitled
under the Company's Articles of Incorporation or By-Laws, as a matter of law, or
otherwise, or any power that the Company may have to indemnify them or hold them
harmless.

SECTION 20.   EFFECTIVE DATE; TERM.

         20.1 Effective Date. The Plan shall be deemed adopted and become
effective upon the Effective Date; provided that, notwithstanding any other
provision of the Plan, no option granted under the Plan shall be exercisable
unless the Plan is approved, directly or indirectly, by the express consent of
shareholders holding at least a majority of the Company's voting stock voting in
person or by proxy at a duly held shareholders' meeting (or by written consent
in lieu of meeting) within 12 months before or after the date the Plan is
adopted.

         20.2 Term. The Plan shall terminate ten years after the earlier of the
Effective Date or the date the Plan is approved by shareholders, and no options
shall thereafter be granted under the Plan. Notwithstanding the foregoing, all
options granted under the Plan prior to such termination date shall remain in
effect and shall be administered in accordance with the terms of the Plan until
such options have been exercised or terminated in accordance with the terms and
provisions of the Plan and the applicable option agreement.

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