Document:

HCFP/Brenner Securities, LLC
	 

	 
		888 Seventh Avenue, 17 Floor
	 

	 
		New York, N.Y.  10106
	 

	 
		

	 

	 
		

	 

	 
		As of February 1, 2007
	 

	 
		

	 

	 
		

	 

	 
		

	 

	 
		Juniper Content Corporation
	 

	 
		56 W. 45th Street – Suite 805
	 

	 
		New York, NY 10036
	 

	 
		

	 

	 
		

	 

	 
		Attention:
	 

	 
		Stuart B. Rekant 
	 

	 
		Chairman and Chief Executive Officer
	 

	 
		

	 

	 
		Re:  Merger and Acquisition Advisory Agreement
	 

	 
		Gentlemen:
	 

	 
		This letter agreement (the “Merger and Acquisition Advisory
		Agreement” or “M&A Agreement”) will confirm the
		arrangements, terms and conditions pursuant to which HCFP/Brenner Securities,
		LLC (“Advisor” or “HCFP”) has been retained to serve as the
		non-exclusive financial advisor to Juniper Content Corporation (the
		“Company”) in connection with proposed Transactions (as defined in
		Paragraph 3 below) during the Term (as defined in Paragraph 2 below).  For
		good and valuable consideration, the receipt and sufficiency of which is hereby
		acknowledged, the undersigned hereby agree to the following terms and
		conditions:
	 

	 
		1.
	 

	 
		Duties of Advisor.  The
		Company retains HCFP as its non-exclusive merger and acquisition advisor with
		respect to proposed Transactions pursuant to which HCFP will (i) perform a
		financial analysis of any entity targeted by the Company in a proposed
		Transaction (a "Target"); (ii) counsel the Company as to strategy and tactics
		for negotiating with the Target and, if requested by the Company, participate
		in negotiations with the Target with respect to, among other things, the
		definitive agreement with Target with respect to the Transaction
		(“Transaction Agreement”); and (iii) assist and advise the Company
		with respect to the pricing, financing, form and structure of any Transaction,
		all when requested by the Company from time to time, during normal business
		hours and upon reasonable notice.  These services shall be rendered by
		HCFP without any direct supervision by the Company and at such time and place
		and in such manner (whether by conference, telephone, letter or otherwise) as
		HCFP may reasonably determine.  HCFP shall make available such time as it,
		in its sole and reasonable discretion, shall deem appropriate for the
		performance of its obligations under this M&A Agreement.
	 

	 
		2.
	 

	 
		Term.  The term of
		HCFP’s engagement hereunder shall be for a period of one year (or such
		longer period as may be agreed to by the parties in writing from time to time)
		commencing on February 1, 2007 (the “Term”).  The "Residual
		Period" shall extend for twelve months after the date of the expiration of the
		Term.  Notwithstanding anything to the contrary contained herein, (i) the
		Term shall end prior to January 31, 2008 if and on such date that Mr. Ira
		Greenspan ceases to be actively involved in the day-to-day operations of HCFP
		(“Early Termination Date”); (ii) there shall be no “residual
		Period” in the event of such earlier
	 

	 
		
 

	 

	 
		

	 

	 
		

	 

	 
		

	 

	 
	 
		

	 

	 
		

	 

	 
		termination, except with respect to any and all Transactions for which
		the Company has executed a Transaction Agreement prior to the Early Termination
		Date; and (iii) the provisions concerning confidentiality, indemnification and
		the Company's obligations to pay fees and reimburse expenses contained herein
		and in the Indemnification Provisions (as hereinafter defined) shall survive
		the expiration of this Agreement.
	 

	 
		3.
	 

	 
		Definitions. For the purposes
		of this M&A Agreement:
	 

	 
		(a)
	 

	 
		The "Company" shall mean the Company and, where appropriate, its
		affiliates, and any entity formed by the Company for purposes of effecting a
		Transaction.
	 

	 
		(b)
	 

	 
		"Transactions" means any transaction, transactions or series of related
		transactions which results, directly or indirectly, in the transfer to the
		Company of control of, or a material interest in another entity, or the merger
		of the Company with another entity, or Transaction shall mean any transaction
		or series of related transactions which result in obtaining a strategic partner
		for the Company, the strategic merger or combination of the Company, or sale of
		substantially all of the assets or stock of the Company; provided, however,
		that Transactions shall include only those transactions on which the
		Company seeks Advisor’s assistance.
	 

	 
		(c)
	 

	 
		The "Transaction Date" means the date of the closing of a Transaction.
	 

	 
		(d)
	 

	 
		"Consideration" means the aggregate value, whether in cash, securities or
		other property, paid or payable directly or indirectly (in escrow or otherwise)
		in connection with a Transaction, including the amount of indebtedness for
		borrowed money assumed by the Company.  If any part of the Consideration
		payable in a Transaction are contingent payments to be calculated by reference
		to uncertain future occurrences, such as future financial or business
		performance, then any fees of HCFP relating to such consideration shall be
		payable to HCFP upon the payment of such Consideration.
	 

	 
		4.
	 

	 
		Compensation and Expense
		Reimbursement.  As compensation for the services rendered by
		HCFP hereunder, the Company shall pay to HCFP the following:
	 

	 
		(a)
	 

	 
		Upon execution of this M&A Agreement, the Company shall pay to HCFP a
		non-refundable payment of Seventy Five Thousand Dollars ($75,000) (the
		"Non-Refundable Fee").  Up to 50% of the Non-Refundable Fee (the
		“Potentially Deductible Fee”) may be deducted from the Transaction
		Fees (defined below) payable to HCFP pursuant to paragraph 4(b) below, at the
		rate of Twelve Thousand Five Hundred Dollars ($12,500) per each of the first
		three Transactions consummated.  The balance of the Non-Refundable Fee
		and, in the event that less than three Transactions for which Transaction Fees
		are payable to HCFP hereunder are consummated, that portion of the Potentially
		Deductible Fee that is not deducted from Transaction Fees in accordance with
		the foregoing, will be kept by HCFP to compensate it for its time and effort in
		providing services hereunder.
	 

	 
		(b)
	 

	 
		For each Transaction that is consummated: (i) during the Term; or (ii)
		during the Residual Period, then the Company shall pay to HCFP, in accordance
		with the formula set forth below, a transaction fee (the "Transaction Fee")
		based on the Consideration paid or payable in such Transaction.  The
		Transaction Fee to be paid to HCFP will be paid on the Transaction Date, by
		certified check, in the following amounts:
	 

	 
		
 

	 

	 
		

	 

	 
		- 2 -
	 

	 
		

	 

	 
		

	 

	 
	 
		

	 

	 
		

	 

	 
		·
	 

	 
		5% of the first $5.0 million of the
		Consideration;
	 

	 
		·
	 

	 
		4% of the Consideration in excess of $5.0
		million and up to $6.0 million;
	 

	 
		·
	 

	 
		3% of the Consideration in excess of $6.0
		million and up to $7.0 million;
	 

	 
		·
	 

	 
		2% of the Consideration in excess of $7.0
		million and up to $8.0 million; and
	 

	 
		·
	 

	 
		1% of any Consideration in excess of $8.0
		million.
	 

	 
		(c)
	 

	 
		HCFP shall be promptly reimbursed upon request from time to time for all
		reasonable out-of-pocket expenses incurred by it in connection with the
		rendering of services hereunder; provided however, that HCFP shall not incur
		out-of-pocket expenses greater than $2,500 in the aggregate without the prior
		approval of the Company.
	 

	 
		(d)
	 

	 
		The fees set forth herein shall be solely for the services set forth in
		paragraph 1 above and shall be in addition to (i) the fees payable to HCFP
		pursuant to the non-exclusive financial advisory agreement between the parties
		dated as of the date hereof (the “General Advisory Agreement”), the
		terms of which fees have been agreed to by the parties in the General Advisory
		Agreement, (ii) the fees that will be payable to HCFP with respect to a
		Transaction Financing (defined below), as set forth in Paragraph 5 below, (iii)
		fees payable in the event the Company requests HCFP to provide a fairness
		opinion in connection with a Transaction the terms of which additional fees
		shall be set forth in a separate written agreement between the parties prior to
		HCFP’s rendering of an opinion, or (iv) providing other services to the
		Company not specifically contemplated by Paragraph 1 of this M&A Agreement
		or Paragraph 1 of the General Advisory Agreement, the terms of which additional
		fees shall be set forth in a separate written agreement between the parties
		prior to HCFP’s rendering of such services.  
	 

	 
		5.
	 

	 
		Transaction Financing.  During
		the Term, HCFP shall have the right (“Management Right”) to serve as
		managing underwriter, managing placement agent or managing arranger for any
		financing to be undertaken in connection with any Transaction by the Company or
		any subsidiary or successor of the Company with aggregate gross proceeds of
		less than $25,000,000 (each, a “Proposed Financing”) on terms then
		competitive in the market for transactions of such type.  For any
		financing for which HCFP would be entitled to the Management Right but for the
		fact that its gross proceeds are $25 million or more, HCFP shall be entitled to
		(i) act as a co-managing underwriter, co-managing agent or co-managing arranger
		for such financing (“Co-Manager”) or at such other level as HCFP
		shall reasonably elect and (ii) assist the Company in identifying, selecting
		and negotiating with the lead underwriter, agent or arranger for such
		financing.
	 

	 
		6.
	 

	 
		Information.  The Company
		shall furnish, or cause to be furnished, to HCFP all information requested by
		HCFP for the purpose of rendering services hereunder (the "Information").
		 The Company recognizes and confirms that HCFP: (i) will use and rely on
		the Information and on information available from generally recognized public
		sources in performing the services contemplated by this M&A Agreement
		without having independently verified the same; (ii) does not assume
		responsibility for the accuracy or completeness of the Information and such
		other information; and (iii) will not make an appraisal of any of the assets
	 

	 
		
 

	 

	 
		

	 

	 
		- 3 -
	 

	 
		

	 

	 
		

	 

	 
	 
		

	 

	 
		

	 

	 
		or liabilities of any of the Targets.  HCFP shall keep the
		Information confidential and not disclose same without the Company’s
		consent, except as may be required by law.
	 

	 
		7.
	 

	 
		Indemnification.
		  The Company agrees to the indemnification and other agreements set
		forth in Exhibit A attached hereto, the provisions of which are incorporated by
		reference and shall survive the termination or expiration of this M&A
		Agreement.
	 

	 
		8.
	 

	 
		Relationship.  Nothing
		herein shall constitute Advisor as an employee or agent of the Company, except
		to such extent as might hereinafter be agreed upon in writing for a particular
		purpose.  Except as might hereinafter be expressly agreed, Advisor shall
		not have the authority to obligate or commit the Company in any manner
		whatsoever.
	 

	 
		9.
	 

	 
		Confidentiality.  Except
		as required by law, neither the Company nor HCFP shall disclose (except to
		their respective accountants and attorneys), without specific consent from the
		other party, any information relating to this M&A Agreement, or any
		financial advisory services provided by HCFP hereunder, including without
		limitation, the existence of this M&A Agreement.  Any advice rendered
		by HCFP pursuant to its engagement hereunder shall also be treated as
		confidential by the Company and any party to whom the Company discloses such
		advice, and shall not be disclosed publicly in any manner without the prior
		written consent of HCFP.  Without prior consultation with HCFP, the
		Company shall not make any legally required disclosure of such advice nor make
		any legally required public announcement or filing in which HCFP's name
		appears.
	 

	 
		10.
	 

	 
		Assignment.  This M&A
		Agreement shall not be assignable by any party except to successors to all or
		substantially all of the business of either party for any reason whatsoever
		without the prior written consent of the other party, which consent may not be
		unreasonably withheld by the party whose consent is required.
	 

	 
		11.
	 

	 
		Severability.  If any
		term, provision, covenant or restriction contained in this M&A Agreement,
		including Exhibit A hereto, is held by a court of competent jurisdiction or
		other authority to be invalid, unenforceable or against its regulatory policy,
		the remainder of the terms, provisions, covenants and restrictions contained in
		this M&A Agreement shall remain in full force and effect and shall in no
		way be affected, impaired or invalidated
	 

	 
		12.
	 

	 
		Survival.  The provisions
		set forth in Paragraphs 4, 5, 6, 7, 9 and 14, if applicable, shall survive any
		termination of Advisor or of this M&A Agreement.
	 

	 
		13.
	 

	 
		Amendment.  This M&A
		Agreement may not be amended or modified except in writing signed by each of
		the parties.
	 

	 
		14.
	 

	 
		Governing Law.  This
		M&A Agreement shall be deemed to have been made and delivered in New York
		City, and both this M&A Agreement and the services contemplated hereby
		shall be governed as to validity, interpretation, construction, effect, and in
		all other respects by the internal laws of the State of New York.  Each of
		Advisor and the Company (a) agrees that any legal suit, action, or proceeding
		arising out of or relating to this M&A Agreement and/or the transactions
		contemplated hereby shall be instituted exclusively in New York State Supreme
		Court, County of New York, or in the United States District Court for the
		Southern District of New York, (b) waives any objection which it may have now
		or hereafter to the venue
	 

	 
		
 

	 

	 
		

	 

	 
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		of any such suit, action, or proceeding, and (c) irrevocably consents to
		the jurisdiction of the New York State Supreme Court, County of New York, and
		the United States District Court for the Southern District of New York in any
		such suit, action or proceeding.  Each of Advisor and the Company further
		agrees to accept and acknowledge service of any and all process which may be
		served in any such suit, action, or proceeding in the New York State Supreme
		Court, County of New York, or in the United States District Court for the
		Southern District of New York, and agrees that service of process upon the
		Company mailed by certified mail to the Company's address shall be deemed in
		every respect effective service of process upon the Company in any such suit,
		action or proceeding, and service of process upon Advisor mailed by certified
		mail to Advisor's address shall be deemed in every respect effective service of
		process upon Advisor in any such suit, action, or proceeding.
	 

	 
		HCFP is delighted to accept this engagement and looks forward to working
		with you.  Please confirm that the foregoing correctly sets forth our
		agreement by signing the enclosed duplicate of this letter in the space
		provided and returning it, together with a check made payable to HCFP in the
		amount of Seventy-Five thousand Dollars ($75,000) in payment of the
		Non-Refundable Fee in accordance with the provisions of Paragraph 4(a) above,
		whereupon this letter shall constitute a binding agreement as of the date first
		above written.
	 

	 
		

	 

	 
		Very truly yours,
	 

	 
		

	 

	 
		HCFP/BRENNER SECURITIES, LLC
	 

	 
		

	 

	 
		By: /s/ Avi Lipsker
	 

	 
		Name: Avi Lipsker
	 

	 
		Title:   Managing Director
	 

	 
		

	 

	 
		AGREED AND ACCEPTED AS OF THE
	 

	 
		DATE FIRST ABOVE WRITTEN:
	 

	 
		

	 

	 
		

	 

	 
		JUNIPER CONTENT CORPORATION
	 

	 
		

	 

	 
		

	 

	 
		By: /s/ Stuart B. Rekant
	 

	 
		Name:  Stuart B. Rekant
	 

	 
		Title:     Chairman and Chief Executive Officer
	 

	 
		
 

	 

	 
		

	 

	 
		- 5 -VICOR TECHNOLOGIES, INC.

                             2002 STOCK OPTION PLAN

I.    Purpose.

     The purpose of the Vicor Technologies, Inc. 2002 Stock Option Plan (the
"Plan") is to provide, through options to purchase shares of common stock, par
value of $.0001, of Vicor Technologies, Inc. (the "Company"), long term
incentives and rewards to directors, officers, consultants and other key
employees or persons responsible for the success and growth of the Company, to
attract and retain such persons and to associate the interests of such persons
with the interests of the Company.

II.   Effective Date.

     The Plan was approved by the Board on August 28, 2002 (the "Effective
Date") and approved by the stockholders of the Company at a meeting to be held
on September 11, 2002.

III.  Definitions.

     The following terms, as used herein, shall have the following meanings:

A.   "Board" shall mean the Board of Directors of the Company.

B.   "Closing Price", as of a particular date, shall mean (i) if the shares of
     Stock are then listed or admitted to trading on a national securities
     exchange, the last reported sales price of a share of Stock sold in the
     regular way on the principal national securities exchange, on which such
     Stock is listed or admitted to trade, or if no sales occurred on such date,
     the last sales price on the last preceding day on which such shares of
     Stock were sold on such exchange, (ii) if the shares of Stock are not then
     listed or admitted to trading on any national securities exchange, the last
     reported sale price for a share of Stock as reported on the National
     Association of Securities Dealers Automated Quotation System ("NASDAQ") on
     the last preceding day on which such shares of Stock were reported sold, or
     (iii) if neither of the preceding two valuation methods is available, the
     value of a share of Stock as determined by the Board in its sole
     discretion.

C.   "Code" shall mean the Internal Revenue Code of 1986, as amended.

D.   "Committee" shall mean such committee, if any, as the Board, in its
     discretion, designates to administer the Plan.

E.   "Company" shall mean Vicor Technologies, Inc., a Delaware corporation and
     its subsidiaries now held or hereafter acquired.

F.   "Fair Market Value", as of a particular date, shall mean (i) if the shares
     of Stock are then listed or admitted to trading on a national securities
     exchange or reported on NASDAQ, the Closing Price, (ii) if the shares of
     Stock are not then listed or admitted to trading on a national securities
     exchange or reported on NASDAQ, as determined by the Board in its sole
     discretion.

G.   "Incentive Stock Option" shall mean an Option that meets the requirements
     of Section 422 of the Code, or any successor provision, and that is
     designated by the Board or the Committee as an Incentive Stock Option.

H.   "Nonqualified Stock Option" shall mean an Option other than an Incentive
     Stock Option.

I.   "Option" shall mean the right, granted pursuant to this Plan, of a holder
     thereof to purchase shares of Stock under the Plan at a price and upon the
     terms to be specified by the Board or the Committee.

J.   "Option Agreement" shall mean any written agreement, contract, or other
     instrument or document between the Company and a Participant evidencing an
     Option.

K.   "Participant" shall mean an officer, director, employee or independent
     contractor of the Company who is, pursuant to Section 4 of the Plan,
     selected to participate herein.

L.   "Plan" shall mean the Vicor Technologies, Inc. 2002 Stock Option Plan.

M.   "Stock" shall mean shares of common stock, par value of $.0001, of the
     Company.

N.   "Ten Percent Stockholder" shall mean a Participant who, at the time an
     Incentive Stock Option is to be granted to such Participant, owns (within
     the meaning of Section 422(b)(6) of the Code) stock possessing more than
     ten percent (10%) of the total combined voting power of all classes of
     stock of the Company within the meaning of Sections 422(e) and 422(f),
     respectively, of the Code.

IV.   Administration.

A.   The Plan shall be administered by the Board. The Board shall have the full
     authority in its sole discretion, subject to and not inconsistent with the
     express provisions of the Plan, to administer the Plan and to exercise all
     the powers and authorities either specifically granted to it under the Plan
     or necessary or advisable in the administration of the Plan, including,
     without limitation, the authority to grant Options; to determine and modify
     the terms of any Options granted under the Plan, including, without
     limitation, the exercise price; to determine the persons to whom and the
     time or times at which Options shall be granted; to determine the type and
     number of Options to be granted and the terms, conditions and restrictions
     relating to any Option; to determine whether, to what extent, and under
     what circumstances an Option may be settled, canceled, forfeited,
     exchanged, or surrendered; to construe and interpret the Plan and any
     Option; to determine how and in what manner a Participant pays the exercise
     price of an Option; to prescribe, amend

     and rescind rules and regulations relating to the Plan; to determine the
     terms and provisions of Option Agreements; to correct any defect, supply
     any deficiency and reconcile any inconsistency in the Plan or any Option
     granted hereunder; to amend the Plan to reflect changes in applicable law;
     and to make all other determinations deemed necessary or advisable for the
     administration of the Plan. The Board may designate one or more persons to
     implement its rules, regulations and determinations and to execute and
     deliver documents and instruments and otherwise act on its behalf in
     accordance with guidelines established by the Board from time to time.

B.   All decisions, determinations and interpretations of the Board shall be
     final and binding on all persons, including the Company, the Participant
     (or any person claiming any rights under the Plan from or through any
     Participant) and any stockholder. The expenses of administering the Plan
     shall be paid by the Company.

C.   No member of the Board shall be liable for any action taken or
     determination made in good faith with respect to the Plan or any Option
     granted hereunder.

D.   All references in the Plan to the "Board" shall, if the context so
     requires, also be deemed to refer to any Committee designated by the Board
     to administer the Plan. Any Committee from time to time, and whenever
     requested, shall report to the Board on its administration of the Plan and
     the actions it has taken.

V.    Eligibility.

     Options may be granted to officers, directors, employees and consultants of
the Company and other persons responsible for the success of the Company in the
sole discretion of the Board and as otherwise set forth herein. In determining
the persons to whom Options shall be granted and the type of Option, the Board
shall take into account such factors as it shall deem reasonable and appropriate
in connection with accomplishing the purposes of the Plan.

VI.   Stock Subject to the Plan: Adjustments.

A.   The maximum number of shares of Stock that may be optioned or purchased
     pursuant to the Plan shall be 1,000,000 shares, subject to adjustment as
     provided herein. Such shares may, in whole or in part, be authorized but
     unissued shares or shares that shall have been or may be reacquired by the
     Company in the open market, in private transactions or otherwise. If any
     shares subject to an Option are forfeited, canceled, exchanged or
     surrendered or if an Option otherwise terminates or expires without a
     distribution of shares to the Participant, the shares of Stock with respect
     to such Option shall, to the extent of any such forfeiture, cancellation,
     exchange, surrender, termination or expiration, again be available for
     grants of Options under the Plan.

B.   In the event that the Board shall determine that any dividend or other
     distribution (whether in the form of cash, stock, or other property),
     recapitalization, stock split, reverse stock split, reorganization, merger,
     consolidation, spin-off, combination, repurchase, or share exchange, or
     other similar corporate transaction or event, affects the

     Stock such that an adjustment is appropriate in order to prevent dilution
     or enlargement of the rights of Participants under the Plan, then the Board
     shall make such equitable changes or adjustments as it deems necessary or
     appropriate to any or all of (i) the number and kind of shares of Stock
     which may thereafter be issued in connection with Options, (ii) the number
     and kind of shares of Stock issued or issuable in respect of outstanding
     Options, and (iii) the exercise price, grant price, or purchase price
     relating to any Option; provided that, with respect to Incentive Stock
     Options, such adjustment shall be made in accordance with applicable
     requirements of the Code.

VII.  Option Grants.

A.   Each Option granted pursuant to this Plan shall be evidenced by an Option
     Agreement, in such form and containing such terms and conditions as the
     Board shall from time to time approve, which Option Agreement shall comply
     with and be subject to the following terms and conditions, as applicable:

     1.   Number of Shares. Each Option Agreement shall state the number of
          shares of Stock to which the Option relates.

     2.   Type of Option. Each Option Agreement shall specifically state that
          the Option constitutes an Incentive Stock Option or a Nonqualified
          Stock Option.

     3.   Option Price. Each Option Agreement shall state the Option price. The
          Option price shall be subject to adjustment as provided in Section 6
          hereof. The date as of which the Board adopts a resolution expressly
          granting an Option shall be considered the day on which such Option is
          granted, unless a different grant date is specified in such
          resolution.

     4.   Method and Time of Payment. Except as otherwise determined by the
          Board in its sole discretion, the Option price shall be paid in full,
          at the time of exercise, in cash or in shares of Stock having a Fair
          Market Value on the date of exercise equal to such Option price or in
          a combination of such cash and Stock or, in the sole discretion of the
          Board (i) through a cashless exercise procedure whereby the
          Participant may pay the exercise price by directing that shares
          otherwise deliverable upon exercise of the Option (valued at the at
          Fair Market Value of such shares as of the date of exercise) be
          withheld, (ii) through the delivery of an irrevocable written notice
          instructing the Company to deliver the shares deliverable upon
          exercise of the Option to a broker selected by the Company, subject to
          the broker's written guarantee to deliver cash to the Company in the
          full amount of the exercise price due on the Option exercise or (iii)
          delivery of a promissory note in form specified by the Company. The
          portion of any Option relating to Stock being withheld in payment of
          the exercise price shall be deemed surrendered and canceled.

     5.   Term and Exercisability of Options. Each Option shall be exercisable
          in the manner determined by the Board in its sole discretion and as
          provided in the Option Agreement; provided, however, that the Board
          shall have the authority to accelerate

          the exercisability of any outstanding Option at such time and under
          such circumstances as it, in its sole discretion, deems appropriate.
          The exercise period shall be ten (10) years from the date of the grant
          of the Option or such shorter period as is determined by the Board.
          The exercise period shall be subject to earlier termination as
          provided in Section 7(f) hereof. An Option may be exercised, as to any
          or all full shares of Stock as to which the Option has become
          exercisable, by written notice delivered to the Company, specifying
          the number of shares of Stock with respect to which the Option is
          being exercised. For purposes of the preceding sentence, the date of
          exercise will be deemed to be the date upon which the Company receives
          such notice. Without limiting the generality of any other provision of
          this Plan, the Board may, in its sole discretion, allow Options
          granted under the Plan to vest on an accelerated basis.

      6.  Termination. The Board shall have the exclusive authority to determine
          if, and for how long, and under what conditions the Option may be
          exercised after termination of a Participant's employment with or
          service to the Company, including by reason of the Participant's
          death; provided, however, that in no event will an Option continue to
          be exercisable beyond the expiration date of such Option.

      7.  Incentive Stock Options. Options granted as Incentive Stock Options
          shall be subject to the following special terms and conditions, in
          addition to the general terms and conditions specified in this Section
          7:

               (i)   Option Price. The Option price shall not be less than one
                     hundred percent (100%) of the Fair Market Value of the
                     shares of Stock covered by the Option on the date of grant
                     of such Incentive Stock Option.

               (ii)  Value of Shares. The aggregate Fair Market Value
                     (determined as of the date the Incentive Stock Option is
                     granted) of the shares of Stock with respect to which
                     Incentive Stock Options granted under this Plan and all
                     other plans of the Company become exercisable for the first
                     time by each Participant during any calendar year shall not
                     exceed $100,000.

               (iii) Ten Percent Stockholder. In the case of an Incentive Stock
                     Option granted to a Ten Percent Stockholder, (x) the Option
                     Price shall not be less than one hundred ten percent (110%)
                     of the Fair Market Value of the shares of Stock on the date
                     of grant of such Incentive Stock Option and (y) the
                     exercise period shall not exceed five (5) years from the
                     date of grant of such Incentive Stock Option.

VIII. General Provisions.

A.    Compliance with Legal Requirements. The Plan and the granting and
      exercising of Options, and the other obligations of the Company under the
      Plan and any Option Agreement or other agreement shall be subject to all
      applicable federal and state laws, rules and regulations, and to such
      approvals by any regulatory or governmental agency as

      may be required. The Company, in its discretion, may postpone the issuance
      or delivery of Stock under any Option as the Company may consider
      appropriate, and may require any Participant to make such representations
      and furnish such information as it may consider appropriate in connection
      with the issuance or delivery of Stock in compliance with applicable laws,
      rules and regulations.

B.    Nontransferability. Options shall not be transferable by a Participant
      except by will or the laws of descent and distribution and shall be
      exercisable during the lifetime of a Participant only by such Participant
      or such Participant's guardian or legal representative.

C.    No Right To Continued Employment. Nothing in the Plan or in any Option or
      any Option Agreement or other agreement entered into pursuant hereto shall
      confer upon any Participant the right to continue in the employ of the
      Company or to be entitled to any remuneration or benefits not set forth in
      the Plan or such Option Agreement or other agreement or to interfere with
      or limit in any way the right of the Company to terminate such
      Participant's employment.

D.    Withholding Taxes. Where a Participant or other person is entitled to
      receive shares of Stock pursuant to the exercise of an Option, the Company
      shall have the right to require the Participant or such other person to
      pay to the Company the amount of any taxes which the Company may be
      required to withhold before delivery to such Participant or other person
      of cash or a certificate or certificates representing such shares. Each
      Participant shall have the right to pay any or all required withholding
      taxes by delivering to the Company shares of Stock already owned. The
      Company may authorize the Participant to pay any or all required
      withholding taxes by directing that shares otherwise deliverable upon
      exercise of the Option be withheld.

E.    Taxes. Upon the disposition of shares of Stock acquired pursuant to the
      exercise of an Incentive Stock Option, the Company shall have the right to
      require the payment of the amount of any taxes which are required by law
      to be withheld with respect to such disposition. Each Participant shall
      have the right to pay any or all of such required withholding taxes by
      delivering to the Company shares of Stock already owned.

F.    Amendment and Termination of the Plan. The Board or any Committee may at
      any time and from time to time alter, amend, suspend, or terminate the
      Plan in whole or in part. Notwithstanding the foregoing, no amendment
      shall affect adversely any material rights of any Participant, without
      such Participant's consent, under any Option theretofore granted under the
      Plan. The power to grant Options under the Plan will automatically
      terminate ten years after the earlier of the adoption of the Plan by the
      Board or the approval of the Plan by stockholders of the Company. If the
      Plan is terminated, any unexercised Options shall continue to be
      exercisable in accordance with its terms and the terms of the Plan in
      effect immediately prior to such termination.

G.    Participant Rights. No Participant shall have any claim to be granted any
      Option under the Plan, and there is no obligation for uniformity of
      treatment for Participants. Except as provided specifically herein, a
      Participant or a transferee of an Option shall have no

      rights as a stockholder with respect to any shares covered by any Option
      until the date of the issuance of a stock certificate for such shares.

H.    No Fractional Shares. No fractional shares of Stock shall be issued or
      delivered pursuant to the Plan or any Option. The Board shall determine
      whether cash, other Options, or other property shall be issued or paid in
      lieu of such fractional shares or whether such fractional shares or any
      rights thereto shall be forfeited or otherwise eliminated.

I.    Governing Law. The Plan and all determinations made and actions taken
      pursuant hereto shall be governed by the laws of the State of Delaware
      without giving effect to the conflict of laws principles thereof.

J.    Beneficiary. A Participant may file with the Board a written designation
      of a beneficiary on such form as may be prescribed by the Board and may,
      from time to time, amend or revoke such designation. If no designated
      beneficiary survives the Participant, the executor or administrator of the
      Participant's estate shall be deemed to be the grantee's beneficiary.

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