Document:

EXHIBIT 10.5

                          FRANKLIN CAPITAL CORPORATION

                     STOCK OPTION AND RESTRICTED STOCK PLAN

1.  PURPOSE OF THE PLAN

    The purpose of this Stock Option and Restricted  Stock Plan (this "Plan") is
to advance the interests of Franklin Capital Corporation (the "Company") and its
subsidiaries  by providing to key employees of the Company and its  subsidiaries
who have  substantial  responsibility  for the direction  and  management of the
Company, as well as certain directors and consultants of the Company, additional
incentives,  to the extent  permitted  by law,  to exert  their best  efforts on
behalf of the Company, to increase their proprietary  interest in the success of
the Company, to reward outstanding performance and to provide a means to attract
and retain persons of outstanding  ability to the service of the Company.  It is
recognized that the Company cannot attract or retain these  individuals  without
this  compensation.  Options  granted  under this Plan may qualify as  incentive
stock options  ("ISOs"),  as defined in Section 422 of the Internal Revenue Code
of 1986, as amended (the "Code").

2.  ADMINISTRATION

    This Plan shall be administered by a committee (the  "Committee")  comprised
of at least two (2) members of the  Company's  Board of Directors  ("Board") who
each  shall  (a)  be  a  "non-employee  director,"  as  defined  in  Rule  16b-3
promulgated  under the  Securities  Exchange  Act of 1934,  as  amended,  unless
administration of the Plan by "non-employee  directors" is not then required for
transactions  under the Plan to be exempt from the requirements of Rule 16b, and
(b) be an "outside director" as defined under Section 162(m) of the Code, unless
the action  taken  pursuant to the Plan is not  required to be taken by "outside
directors" to qualify for tax  deductibility  under Section  162(m) of the Code.
The  Committee  shall  interpret  this Plan and, to the extent and in the manner
contemplated herein, shall exercise the discretion reserved to it hereunder. The
Committee may  prescribe,  amend and rescind rules and  regulations  relating to
this Plan and to make all other determinations necessary for its administration.
The  decision  of  the  Committee  on  any   interpretation   of  this  Plan  or
administration  hereof,  if in  compliance  with the  provisions  of the Act and
regulations promulgated  thereunder,  shall be final and binding with respect to
the Company, any optionee or any person claiming to have rights as, or on behalf
of, any optionee.

3.  SHARES SUBJECT TO THE PLAN

    The shares subject to option and the other  provisions of this Plan shall be
shares of the  Company's  common  stock,  par value $1.00 per share  ("shares").
Subject to the  provisions  hereof  concerning  adjustment,  the total number of
shares that may be purchased  upon the  exercise or  surrender of stock  options
granted under this Plan shall not exceed twenty-five  percent (25%) of the total
number of shares  authorized  and  outstanding  on the date the Plan is  adopted
REDUCED  BY the  number of shares  with  respect  to which  restricted  stock is
awarded.  The total  number of shares that may be awarded as  restricted  shares
under this Plan shall not exceed ten percent (10%) of the total number of shares
authorized and outstanding on the date the Plan is adopted.  Any shares that are
authorized  for issuance  pursuant to the exercise of options may be issued upon
the exercise of ISOs. In the event any option shall cease to be  exercisable  in
whole or in part for any reason,  the shares  which were covered by such option,
but as to which the  option had not been  exercised,  shall  again be  available
under this Plan. Similarly, any shares that were granted pursuant to an award of
restricted stock under this Plan but that are forfeited pursuant to the terms of
the Plan or an award  agreement  shall again be  available  under this Plan.  In
addition,  shares not delivered to  participants in connection with the cashless
exercise of an option  shall again be available  under this Plan.  Shares may be
made available  from  authorized,  un-issued or reacquired  stock or partly from
each.

<PAGE>

4.  PARTICIPANTS

    (A) KEY EMPLOYEES,  DIRECTORS AND CONSULTANTS. The Committee shall determine
and designate from time to time those key employees,  directors and  consultants
(to the extent  permissible  under the  Investment  Company  Act of 1940) of the
Company and its  subsidiaries who shall be eligible to participate in this Plan.
The Committee  shall also determine the number of shares to be offered from time
to time to each  participant,  either  pursuant  to an option or  pursuant to an
award of  restricted  stock,  or  both.  In  making  these  determinations,  the
Committee  shall take into account the past  service of each such key  employee,
director or  consultant  to the Company  and its  subsidiaries,  the present and
potential  contributions  of such key  employee,  director or  consultant to the
success  of the  Company  and its  subsidiaries  and such  other  factors as the
Committee shall deem relevant in connection with  accomplishing  the purposes of
this Plan. The agreement documenting the award of any option or restricted stock
granted  pursuant to this Plan shall  contain such terms and  conditions  as the
Committee  shall deem  advisable,  including  but not limited to being vested or
exercisable,  as the case may be, only in such installments as the Committee may
determine.

    (B) AWARD  AGREEMENTS.  All options and  restricted  stock granted under the
Plan will be evidenced by an  agreement.  Agreements  evidencing  awards made to
different   participants   or  at  different  times  need  not  contain  similar
provisions. Options that are intended to be ISOs will be designated as such; any
option not so designated will be treated as a nonqualified stock option.

5.  OPTION PRICE

    Each  agreement  representing  an award of options  shall state the price at
which the  subject  option may be  exercised,  which  shall not be less than the
current  fair  market  value of the shares at the date of issuance of an option,
provided,  however, that the exercise price of any option that is intended to be
an ISO and that is  granted to a holder of 10% or more of the  Company's  shares
shall not be less than 110% of such current fair market  value.  For purposes of
this  Plan,  the  fair  market  value of any  Share as of any date  shall be the
average of the high and low trading prices of the shares on that date.

6.  OPTION PERIOD

    Each  agreement  representing  an award of options shall state the period or
periods of time at and within  which the  subject  option may be  exercised,  in
whole or in part, by the optionee,  which shall be such period or periods as may
be determined by the Committee,  provided, however, that the option period shall
not exceed ten years from the date of issuance of the option and, in the case of
an option  that is  intended to be an ISO and that is granted to a holder of 10%
or  more  of  the  Company's  shares,   shall  not  exceed  five  years.  Unless
specifically provided otherwise in an agreement evidencing the award of options,
any option awarded to a participant  shall become  exercisable  over four years,
with  25%  of the  option  becoming  exercisable  on  each  of  the  first  four
anniversaries of the date of the award.

7.  PAYMENT FOR SHARES

    Full payment for shares purchased pursuant to an option shall be made at the
time of exercising the option in whole or in part. Payment of the purchase price
shall be made in cash (including check,  bank draft or money order),  unless the
Company  provides  to any or all  participants  the ability to effect a cashless
exercise of his or her options.

8.  RESTRICTED STOCK

    Each  agreement  representing  an award of restricted  stock shall state the
number of shares subject to the award and the terms and  conditions  pursuant to
which the  recipient of the award shall  acquire a  nonforfeitable  right to the
shares awarded as restricted stock. Unless specifically provided otherwise in an
agreement  evidencing the award of restricted stock, a participant shall acquire
a nonforfeitable  right to the shares subject to the award over four years, with
25% of  the  restricted  stock  becoming  vested  on  each  of  the  first  four
anniversaries  of the date of the award,  and shares  that are not vested upon a
participant's termination of employment with, or cessation of providing services
to, the Company shall be forfeited.

<PAGE>

9.  TRANSFERABILITY OF OPTIONS AND RESTRICTED STOCK

    Options and  restricted  stock shall not be  transferable  other than to the
spouse or lineal  descendants  (including  adopted children) of the participant,
any trust for the  benefit of the  participant  or the  benefit of the spouse or
lineal  descendants  (including  adopted  children) of the  participant,  or the
guardian or conservator of the participant ("Permitted Transferees").

10.  TERMINATION OF OPTIONS AND RESTRICTED STOCK AWARDS

    All rights to exercise options shall terminate sixty days after any optionee
ceases to be a director of the Company or a key  employee or  consultant  of the
Company  and  any of its  subsidiaries,  and  no  options  will  vest  after  an
optionee's  termination  date.  Notwithstanding  the foregoing,  however,  if an
optionee's  service as a director of the Company or key  employee or  consultant
terminates  as a result  of the  optionee's  death or his  total  and  permanent
disability,  the  optionee or the  executors  or  administrators  or legatees or
distributees  of the  estate,  as the  case  may be and to the  extent  they are
Permitted  Transferees,  shall have the right, from time to time within one year
after the  optionee's  total and permanent  disability or death and prior to the
expiration of the term of the option,  to exercise any portion of the option not
previously  exercised,  in whole  or in  part,  as  provided  in the  respective
agreement  evidencing the award of the options. A participant's rights to shares
awarded as restricted stock shall, under all circumstances,  be set forth in the
agreement evidencing the award of restricted stock.

11.  EFFECT OF CHANGE IN STOCK SUBJECT TO THE PLAN

    Subject to any required  action by the  shareholders  of the Company and the
provisions of applicable  corporate law, the number of shares represented by the
unexercised  portion of an option, the number of shares that has been authorized
or reserved  for  issuance  hereunder,  and the number of Shares  covered by any
applicable vesting schedule hereunder, as well as the exercise price for a share
represented by the unexercised  portion of an option,  shall be  proportionately
adjusted  for (a) a  division,  combination  or  reclassification  of any of the
shares of common  stock of the  Company or (b) a  dividend  payable in shares of
common stock of the Company.

12.  GENERAL RESTRICTION

    Each  award  shall be subject to the  requirement  that,  if at any time the
Board shall  determine,  at its  discretion,  that the listing,  registration or
qualification of the shares subject to such option upon any securities  exchange
or under any state or federal law, or the consent or approval of any  government
regulatory  body,  is necessary or desirable as a condition of, or in connection
with,  the  granting  of such  award or the  issue  or  purchase  of the  shares
thereunder,  such  option may not be  exercised  in whole or in part unless such
listing,  registration,  qualification,  consent  or  approval  shall  have been
effected or obtained  free of any  conditions  not  acceptable  to the  Company.
Subject to the  limitations  of paragraph  6, no option shall expire  during any
period when exercise of such option has been prohibited by the Board,  but shall
be extended  for such  further  period so as to afford the optionee a reasonable
opportunity to exercise his option.

13.  MISCELLANEOUS PROVISIONS

    (A) No optionee  shall have rights as a  shareholder  with respect to shares
covered by his option until the date of exercise of his option.

    (B) The  granting  of any award  under the Plan  shall not  impose  upon the
Company any  obligation to appoint or to continue to appoint as a director,  key
employee or  consultant  any  participant,  and the right of the Company and its
subsidiaries  to terminate the  employment of any key employee or other employee
or consultant,  or service of any director,  shall not be diminished or affected
by  reason  of the fact  that an  award  has been  made  under  the Plan to such
participant.

    (C) Awards  under the Plan shall be evidenced  by award  agreements  in such
form and subject to the terms and conditions of this Plan as the Committee shall
approve from time to time,  consistent  with the  provisions of this Plan.  Such
award  agreements  may contain such other  provisions,  as the  Committee in its
discretion may deem advisable.  In the case of any discrepancy between the terms
of the Plan and the  terms of any award  agreement,  the Plan  provisions  shall
control.

<PAGE>

    (D) The aggregate  fair market value  (determined as of the date of issuance
of an option) of the Shares with respect to which an option, or portion thereof,
intended to be an ISO is exercisable  for the first time by any optionee  during
any  calendar  year (under all  incentive  stock option plans of the Company and
subsidiary corporations) shall not exceed $100,000.

    (E) All  awards  under  this Plan  shall be made  within  ten years from the
earlier of the date of adoption of this Plan (or any amendment thereto requiring
shareholder  approval  pursuant  to the  Code)  or the  date  this  Plan (or any
amendment  thereto  requiring  shareholder  approval  pursuant  to the  Code) is
approved by the shareholders of the Company.

    (F) A leave  of  absence  granted  to an  employee  does not  constitute  an
interruption  in continuous  employment for purposes of this Plan as long as the
leave of absence does not extend beyond one year.

    (G) Any  notices  given in writing  shall be deemed  given if  delivered  in
person or by  certified  mail;  if given to the Company  addressed  to Corporate
Secretary,  Franklin Capital  Corporation,  100 Wilshire Boulevard,  Suite 1500,
Santa Monica,  California 90401; and, if to an optionee, in care of the optionee
at his or her last known address.

    (H) This Plan and all actions taken by those acting under this Plan shall be
governed  by the  substantive  laws of  Delaware  without  regard  to any  rules
regarding conflict-of-law or choice-of-law.

    (I) All costs and expenses  incurred in the operation and  administration of
this Plan shall be borne by the Company.

14.  AMENDMENT AND TERMINATION

    The Board may  modify,  revise or  terminate  this Plan at any time and from
time to  time,  subject  to such  supermajority  voting  requirements  as may be
contained in the Company's  certificate of incorporation  or by-laws.  While the
Board may seek  shareholder  approval of an action  modifying a provision of the
Plan where it is determined  that such  shareholder  approval is advisable under
the provisions of applicable  law, the Board of Directors  shall be permitted to
make  any  modification  or  revision  to any  provision  of this  Plan  without
shareholder  approval.  This Plan shall  terminate when all Shares  reserved for
issuance  hereunder  have been  issued  upon the  exercise  of  options  and all
restricted  stock  awards  have  fully  vested , or by  action  of the  Board of
Directors pursuant to this paragraph, whichever shall first occur.

15.  EFFECTIVE DATE OF THE PLAN

    The Plan shall become  effective upon the latest to occur of (1) adoption by
the Board, and (2) approval of this Plan by the shareholders of the Company.AutoCoded Document

EXHIBIT TO FORM 8-K

BROWN
& BROWN, INC.

STOCK
PERFORMANCE PLAN, AS AMENDED

Brown
& Brown, Inc., a corporation organized under the laws of the State of
Florida, establishes this Stock Performance Plan for the purposes of attracting
and retaining Key Employees, providing an incentive for Key Employees to achieve
long-range performance goals, and enabling Key Employees to share in the
successful performance of the stock of Brown & Brown, Inc., as measured
against pre-established performance goals.

ARTICLE
I - DEFINITIONS

1.01 Award
Effective Date means,
with respect to each share of Performance Stock, the date on which the award of
the share of Performance Stock to a Key Employee is effective. An award of
Performance Stock shall be effective (i) as of the date set by the Committee
when the award is made or, (ii) if the award is made subject to one, or more
than one, condition under Section 6.02 of this Plan, as of the date the
Committee in its sole and absolute discretion determines that such condition or
conditions have been satisfied.

1.02 Board means
the Board of Directors of Brown & Brown, Inc.

1.03 Change
in Control means
(i) the acquisition of the power to direct, or cause the direction of, the
management and policies of the Company by a person not previously possessing
such power, acting alone or in conjunction with others, whether through
ownership of Stock, by contract or otherwise, or (ii) the acquisition, directly
or indirectly, of the power to vote twenty percent or more of the outstanding
Stock by a person or persons. For purposes of this Section 1.03, the term
"person" means a natural person, corporation, partnership, joint venture, trust,
government or instrumentality of a government. Also for purposes of this Section
1.03, customary agreements with or among underwriters and selling group members
with respect to a bona fide public offering of Stock shall be
disregarded.

1.04 Code means
the Internal Revenue Code of 1986, as amended.

1.05 Committee means
the Compensation Committee of the Board or, if the Compensation Committee at any
time has less than three members, a committee that shall have at least three
members, each of whom shall be appointed by and shall serve at the pleasure of
the Board.

1.06 Company means
Brown & Brown, Inc., a corporation organized under the laws of the State of
Florida.

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1.07 Disability means a
physical or mental condition of a Key Employee resulting from bodily injury,
disease or mental disorder that renders him or her incapable of engaging in any
occupation or employment for wage or profit. Disability does not include any
physical or mental condition resulting from the Key Employee's engagement in a
felonious act, self-infliction of an injury, or performance of military service.
Disability of a Key Employee shall be determined by a licensed physician
selected by the Committee in its sole and absolute discretion.

1.08 Key
Employee means a
full time, salaried employee of the Company who, in the judgment of the
Committee acting in its sole and absolute discretion, is a key to the successful
operation of the Company.

1.09 Performance
Stock means
Stock awarded to a Key Employee under this Plan.

1.10 Performance
Stock Agreement means
the written agreement between the Company and a Key Employee to whom an award of
Performance Stock is made under this Plan.

1.11 Plan means
this Brown & Brown, Inc. Stock Performance Plan.

1.12 Stock means
the common stock, $0.10 par value, of the Company.

1.13 Year
of Vesting Service means,
with respect to each share of Performance Stock, a twelve consecutive month
period measured from the grant date of the Performance Stock and each successive
twelve consecutive month period measured from each anniversary of such grant
date for that share of Performance Stock.

ARTICLE
II - ELIGIBILITY

Only Key
Employees shall be eligible to receive awards of Performance Stock under this
Plan. The Committee, in its sole and absolute discretion, shall determine the
Key Employees to whom Performance Stock shall be awarded. A member of the
Committee is not eligible to receive grants of Performance Stock during the
period he or she serves on the Committee.

ARTICLE
III - STOCK AVAILABLE FOR AWARDS

The
Company shall reserve 7,200,000 shares of Stock for use under this Plan. All
such shares of Stock shall be reserved to the extent that the Company deems
appropriate from authorized but unissued shares of Stock and from shares of
Stock that have been reacquired by the Company. Furthermore, any shares of
Performance Stock that are forfeited under Section 6.03 of this Plan shall again
become available for use under this Plan.

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ARTICLE
IV - EFFECTIVE DATE

This Plan
shall be effective on the date it is adopted by the Board, subject to the
approval of the shareholders of the Company within twelve months after the date
of adoption of this Plan by the Board. Any Performance Stock awarded under this
Plan before the date of such shareholder approval shall be awarded expressly
subject to such approval.

ARTICLE
V - ADMINISTRATION

This Plan
shall be administered by the Committee. The Committee, acting in its sole and
absolute discretion, shall exercise such powers and take such action as
expressly called for under this Plan. Furthermore, the Committee shall have the
power to interpret this Plan and to take such other action in the administration
and operation of this Plan as the Committee deems equitable under the
circumstances, which action shall be binding on the Company with respect to each
affected Key Employee and each other person directly or indirectly affected by
such action. Nothing in this Article V shall affect or impair the Board's power
to take the actions reserved to it in this Plan.

ARTICLE
VI - PERFORMANCE STOCK AWARDS

6.01 Committee
Action. The
Committee shall have the right to award shares of Performance Stock to Key
Employees under this Plan. Each award of Performance Stock shall be evidenced by
a Performance Stock Agreement, and each Performance Stock Agreement shall set
forth the conditions, under which the award will be effective and the conditions
under which the Key Employee's interest in the Performance Stock shall become
fully vested and nonforfeitable.

6.02 Conditions
for Awards. The
Committee shall make the award of Performance Stock to Key Employees effective
only upon the satisfaction of one, or more than one, objective performance
targets. The
Committee shall determine the performance targets which will be applied with
respect to each grant of Performance Stock at the time of award, but in no event
later than ninety (90) days after the commencement of the period of service to
which the performance targets relate. The performance criteria applicable to
Performance Stock awards will be one or more of the following criteria:

(1) Stock
price; 

(2) average
annual growth in earnings per share; 

(3) increase
in shareholder value; 

(4) earnings
per share; 

(5) net
income; 

(6) return on
assets; 

(7) return on
shareholders’ equity; 

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(8) increase
in cash flow; 

(9) operating
profit or operating margins; 

(10) revenue
growth of the Company; and 

(11) operating
expenses. 

The
related Performance Stock Agreement shall set forth each such target and the
deadline for satisfying each such target. The Committee must certify in writing
that each such target has been satisfied before the award of Performance Stock
becomes effective. The shares of Stock underlying an award of Performance Stock
shall be unavailable under Article III of this Plan as of the date on which such
award is made. If an award of Performance Stock fails to become effective under
Section 6.01 of this Plan, the underlying shares of Stock subject to such award
shall be treated under Article III of this Plan as forfeited and shall again
become available under Article III of this Plan as of the date of such failure
to become effective. No more
than 20,000 shares of Performance Stock may be granted to a Key Employee in any
calendar year.

6.03 Conditions
for Nonforfeitability of Performance Stock. Subject
to the provisions of Article IX of this Plan, a Key Employee's interest in the
shares of Performance Stock awarded to him or her shall become fully vested and
nonforfeitable upon the satisfaction of any conditions for the grant specified
by the Committee pursuant to Section 6.02 and upon the Key Employee's completion
of fifteen Years of Vesting Service for the Company. Subject to the provisions
of Article IX of this Plan, if the Key Employee's employment with the Company
terminates before his or her completion of fifteen Years of Vesting Service for
the Company, the Key Employee's interest in the awarded shares of Performance
Stock shall be forfeited unless:

(a) the Key
Employee has attained age sixty-four;

(b) the Key
Employee's employment with the Company terminates as a result of his or her
death or Disability; or

(c) the
Committee, in its sole and absolute discretion, waives the conditions described
in this Section 6.03.

If a
grant of Performance Stock is made to a Key Employee after the Key Employee
attains age sixty-four, but before his or her employment with the Company
terminates, the Key Employee's interest in the granted shares of Performance
Stock shall become fully vested and nonforfeitable upon the Key Employee’s
retirement from employment with the Company provided
that any
conditions for the award of such shares, or portion thereof, specified by the
Committee pursuant to Section 6.02 have been satisfied.

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6.04 Dividends
and Voting Rights. If a
cash dividend is declared on a share of Performance Stock after the Award
Effective Date, but before the Key Employee's interest in the Performance Stock
is forfeited or becomes fully vested and nonforfeitable, the Company shall pay
the cash dividend directly to the Key Employee. If a Stock dividend is declared
on a share of Performance Stock after the Award Effective Date, but before the
Key Employee's interest in the Performance Stock is forfeited or becomes fully
vested and nonforfeitable, the Stock dividend shall be treated as part of the
award of the related Performance Stock, and the Key Employee's interest in such
Stock dividend shall be forfeited or become nonforfeitable at the same time as
the Performance Stock with respect to which the Stock dividend was paid is
forfeited or becomes nonforfeitable. The disposition of each other form of
dividend which is declared on a share of Performance Stock shall be made in
accordance with such rules as the Committee shall adopt with respect to each
such dividend.

A Key
Employee shall be allowed to exercise voting rights with respect to a share of
Performance Stock after the Award Effective Date, but before the Key Employee's
interest in the Performance Stock is forfeited or becomes fully vested and
nonforfeitable.

6.05 Satisfaction
of Nonforfeitability Conditions; Provision for Income and Excise
Taxes. A share
of Stock shall cease to be Performance Stock at such time as a Key Employee's
interest in such share of Stock becomes fully vested and nonforfeitable under
Section 6.03 or Article IX of this Plan, and the certificate representing such
share of Stock shall be transferred to the Key Employee as soon as practicable
thereafter.

ARTICLE
VII - SECURITIES REGISTRATION

Each
Performance Stock Agreement shall provide that, upon the receipt of shares of
Stock as a result of the satisfaction of the conditions described in Section
6.03 of this Plan for nonforfeitability of Performance Stock, the Key Employee
shall, if so requested by the Company, hold such shares of Stock for investment
and not with a view of resale or distribution to the public and, if so requested
by the Company, shall deliver to the Company a written statement signed by the
Key Employee satisfactory to the Company to that effect. With respect to Stock
issued pursuant to this Plan, the Company at its expense shall take such action
as it deems necessary or appropriate to register the original issuance of such
Stock to a Key Employee under the Securities Act of 1933 or under any other
applicable securities laws or to qualify such Stock for an exemption under any
such laws prior to the issuance of such Stock to a Key Employee. Notwithstanding
the foregoing, the Company shall have no obligation whatsoever to take any such
action in connection with the transfer, resale or other disposition of such
Stock by a Key Employee.

ARTICLE
VIII - ADJUSTMENT

The
Board, in its sole and absolute discretion, may, but shall not be required to,
adjust the number of shares of Stock reserved under Article III of this Plan,
the annual grant limit set forth in Section 6.02 of this Plan (to the extent
permitted by the rules relating to the qualified performance-based compensation
exemption
from the limit on tax deductibility of compensation under Section 162(m) of the
Internal Revenue Code of 1986, as amended (the "Code")), and
shares of Performance Stock theretofore granted in an equitable manner to
reflect any change in the

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capitalization
of the Company, including, but not limited to, such changes as Stock dividends
or Stock splits. If any adjustment under this Article VIII would create a
fractional share of Stock, such fractional share shall be disregarded and the
number of shares of Stock reserved or granted under this Plan shall be the next
lower number of shares of Stock, rounding all fractions downward. An adjustment
made under this Article VIII by the Board shall be conclusive and binding on all
affected persons and, further, shall not constitute an increase in the number of
shares reserved under Article III within the meaning of Article X(a) of this
Plan.

ARTICLE
IX - SALE OR MERGER OF COMPANY; CHANGE IN CONTROL

9.01 Sale
or Merger. If the
Company agrees to sell all or substantially all of its assets for cash or
property or for a combination of cash and property or agrees to any merger,
consolidation, reorganization, division or other corporate transaction in which
Stock is converted into another security or into the right to receive securities
or property and such agreement does not provide for the assumption or
substitution of Performance Stock granted under this Plan, all shares of
Performance Stock shall become fully vested and nonforfeitable.

9.02 Change
in Control. In the
event of a Change in Control, the Board thereafter shall have the right to take
such action with respect to any shares of Performance Stock that are
forfeitable, or all such shares of Performance Stock, as the Board in its sole
and absolute discretion deems appropriate under the circumstances to protect the
interests of the Company in maintaining the integrity of the awards under this
Plan. Furthermore, the Board shall have the right to take different action under
this Section 9.02 with respect to different Key Employees or different groups of
Key Employees, as the Board in its sole and absolute discretion deems
appropriate under the circumstances.

Notwithstanding
the foregoing provisions of this Article IX, all shares of Performance Stock
shall become fully vested and nonforfeitable in the event of (i) any tender or
exchange offer for Stock accepted by a majority of the shareholders of the
Company; or (ii) the death of J. Hyatt Brown and the subsequent sale by his
estate, his wife, his parents, his lineal descendants, any trust created for his
benefit during his lifetime, or any combination of the foregoing, of the Stock
owned by J. Hyatt Brown prior to his death. If any shares of Performance Stock
become fully vested and nonforfeitable because of the occurrence of the events
described in (i) or (ii) of this paragraph, the Company shall pay to the holders
of such shares, within 60 days of the occurrence of such event, the full amount
of any federal and state income tax liability incurred by such holder as a
result of such vesting, including, without limitation, any excise tax with
respect to such vesting (e.g., I.R.C. § 4999 and any successor provision). The
Company will also pay to such holders the amount of any tax liability with
respect to the “gross-up” payment described in the preceding
sentence.

ARTICLE
X - AMENDMENT OR TERMINATION

This Plan
may be amended by the Board from time to time to the extent that the Board in
its sole and absolute discretion deems necessary or appropriate. Notwithstanding
the foregoing, no amendment of this Plan shall be made absent the approval of
the shareholders of the Company if the effect of the amendment is:

(a) to
increase the number of shares of Stock reserved under Article III of this
Plan;

6

(b) to change
the class of employees of the Company eligible for awards of Performance Stock
or to otherwise materially modify the requirements as to eligibility for
participation in this Plan; or

(c) to modify
the material terms of this Plan that must be approved by shareholders of the
Company under the
rules
relating to the qualified performance-based compensation exemption
from the limit on tax deductibility of compensation under Section 162(m) of the
Code.

The Board
in its sole and absolute discretion may suspend the awarding of Performance
Stock under this Plan at any time and may terminate this Plan at any time.
Notwithstanding the foregoing, the Board shall not have the right to modify,
amend or cancel any share of Performance Stock granted before such suspension or
termination unless the Key Employee to whom the Performance Stock is awarded
consents in writing to such modification, amendment or cancellation, or there is
a dissolution or liquidation of the Company or a transaction described in
Article VIII or IX of this Plan.

ARTICLE
XI - TERM OF PLAN

No
Performance Stock shall be awarded under this Plan on or after the earlier
of:

(a) the
twentieth anniversary of the effective date of this Plan, as determined under
Article IV of this Plan, in which event this Plan otherwise thereafter shall
continue in effect until all Performance Stock awarded under this Plan has been
forfeited or the conditions described in Section 6.03 of this Plan for
nonforfeitability of all Performance Stock awarded under this Plan have been
completely satisfied; or

(b) the date
on which all of the Stock reserved under Article III of this Plan has, as a
result of the satisfaction of the conditions described in Section 6.03 of this
Plan for nonforfeitability of Performance Stock awarded under this Plan, been
issued or no longer is available for use under this Plan, in which event this
Plan also shall terminate on such date.

ARTICLE
XII - MISCELLANEOUS

12.01 Shareholder
Rights. Subject
to Section 6.04 of this Plan, a Key Employee's rights as a shareholder in the
shares of Performance Stock awarded to him or her shall be set forth in the
related Performance Stock Agreement.

12.02 No
Contract of Employment. The
award of Performance Stock to a Key Employee under this Plan shall not
constitute a contract of employment and shall not confer on a Key Employee any
rights upon his or her termination of employment with the Company in addition to
those rights, if any, expressly set forth in the Performance Stock Agreement
related to his or her Performance Stock.

7

12.03 Withholding. The
acceptance of an award of Performance Stock shall constitute a Key Employee's
full and complete consent to whatever action the Committee deems necessary to
satisfy the federal and state tax withholding requirements, if any, that the
Committee in its sole and absolute discretion deems applicable to such
Performance Stock. The Committee also shall have the right to provide in a
Performance Stock Agreement that a Key Employee may elect to satisfy federal and
state tax withholding requirements through a reduction in the number of shares
of Stock actually transferred to him or her under this Plan.

12.04 Governing
Law. The
provisions of this Plan shall be governed by and interpreted in accordance with
the laws of the State of Florida.

Approved
by the Board of Directors: October 31, 1995

Approved
by Shareholders: April 30,
1996

As
amended, effective February 27, 1998; April 29, 1998; August 23, 2000; January
24, 2001; November 21, 2001; April 24, 2003; April 21, 2005

8

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