Document:

Exhibit 10(iii)(34)

                          PERFORMANCE SHARES AGREEMENT

      This Performance Shares Agreement  ("Agreement") is made between CH Energy
Group,   Inc.   ("Corporation"),   a  New  York   corporation,   and  __________
("Participant"), an officer of the Corporation or one of its Affiliates.

      WHEREAS,  the  Corporation  has  adopted the  Long-Term  Performance-Based
Incentive Plan, a copy of which has been previously provided to the Participant;
and

      WHEREAS,   pursuant  to  authority  of  the  Board  of  Directors  of  the
Corporation,  the  Compensation  Committee  of the  Board  of  Directors  of the
Corporation ("Committee"),  effective January 1, 2005 ("Date of Grant"), granted
the Participant Performance Shares, subject to entering into this Agreement.

      NOW, THEREFORE,  in consideration of the foregoing, of the mutual promises
set forth later in this Agreement, and of other good and valuable consideration,
the  receipt  and  sufficiency  of which are  acknowledged,  the parties to this
Agreement,  intending to be legally  bound,  agree as follows (terms used herein
shall have the  meanings  set forth in the Plan,  which  terms are  incorporated
herein by reference, unless otherwise defined herein):

      Section 1. Performance  Shares/Performance  Goals. The Corporation  hereby
confirms the grant to the  Participant of ____  Performance  Shares  (subject to
increase or decrease as  described  in this  Section 1) to be earned  during the
Award Cycle, which cycle, the Committee  determined,  shall begin on the Date of
Grant and shall  expire  on the close of  business  on  December  31,  2007,  in
accordance with the terms of this Agreement and the Plan.

      There shall be two Performance Goals during the Award Cycle, each of which
shall be weighted  equally (i.e.,  each Performance Goal accounts for 50% of the
total payout).  The first  Performance Goal shall be based on the  Corporation's
percentage  growth in earnings per share during the Award Cycle  relative to the
percentage growth in earnings per share of the companies in the EEI Index during
the same period, as set forth on Exhibit A. The second Performance Goal shall be
based on the average of the  Corporation's  annual  dividend yield on book value
during the Award Cycle  relative to the average of the annual  dividend yield on
book value of the  companies  in the EEI Index  during the same  period,  as set
forth on Exhibit A. The Performance Shares and associated  reinvested  dividends
granted hereby shall be earned and paid based on the level of the  Corporation's
performance  results with respect to each of the  Performance  Goals as shown on
Exhibit  A. The

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                                       2

number of Performance Shares earned and paid will range,  according to the level
of  performance  achieved,  from 0% to 150% of the  Performance  Shares  granted
hereunder.   All  determinations   involving  the  Performance  Goals  shall  be
calculated based on Generally  Accepted  Accounting  Principles in effect at the
time the goals  are  established  without  regard  to any  change in  accounting
standards that may be required by the Financial Accounting Standards Board after
the goals are established.

      The Committee has determined  that,  subject to the terms of the Plan, (1)
cash dividends on the Common Stock that is the subject of the Performance Shares
shall be  automatically  deferred and reinvested in additional  shares of Common
Stock, held subject to vesting of the underlying  Performance Shares and meeting
the Performance  Goals  described  herein,  and (2) dividends  payable in Common
Stock  shall be paid in the form of shares  of Common  Stock,  held  subject  to
vesting of the underlying  Performance  Shares and meeting the Performance Goals
described herein. Any reinvested dividend referred to in this paragraph shall be
applied  to  the  number  of  Performance  Shares  earned  as set  forth  in the
immediately preceding paragraph.

      Section  2.  Vesting  Conditions.  Except as  described  in Section 4, the
vesting of the Performance Shares is conditioned on the continued  employment of
the Participant with the Corporation and its Affiliates.

      Section 3. Delivery of Shares.  At the expiration of the Award Cycle,  the
Committee  shall  evaluate  the  Corporation's   performance  in  light  of  the
Performance Goals for the Performance Shares and shall determine the Performance
Shares and associated  reinvested  dividends  earned by the  Participant  (under
Section 1) and the value thereof,  and the Corporation  shall deliver the number
of shares of Common  Stock whose Fair Market Value is equal to the cash value of
the  number  of the  Performance  Shares  and  associated  reinvested  dividends
determined by the Committee to have been earned by the Participant. The delivery
of such shares of Common Stock shall be made in accordance  with this  Agreement
and the Plan as soon as practicable after they are earned, but in no event later
than March 15, 2008.

      The certificate or certificates  representing  such shares of Common Stock
shall be  registered  in the name of the  Participant  and shall bear any legend
required by any federal or state  securities  law, rule or  regulation,  and (if
applicable) a legend referring to the restrictions provided under this

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                                       3

Agreement  and  under  the  Plan.  Upon  the  issuance  of such  certificate  or
certificates,  the Participant  shall have all the rights of a stockholder  with
respect to those  shares of Common  Stock and to receive all  dividends or other
distributions paid or made with respect to those shares; provided, however, that
those shares shall be subject to the restrictions,  if any, under this Agreement
and in the Plan.

      The Performance  Shares are payable only if compliance with all applicable
federal and state securities laws,  security  exchange listing  requirements and
other requirements of the Plan can be effected and only by (i) the Participant's
completion,  execution  and  delivery to the  Corporation,  if and to the extent
required by the Corporation,  of an "investment  letter" in the form supplied by
the  Corporation  and  (ii)  the  Participant   satisfying  the  tax-withholding
requirements of the Plan.

      Section 4.  Forfeitures.  Except to the extent otherwise  provided in this
Agreement  and the Plan,  the  Participant's  right to receive  the  Performance
Shares and associated reinvested dividends shall be forfeited  automatically and
without  further  notice  on  the  date  of  the  Participant's  Termination  of
Employment for any reason during the Award Cycle or before the Performance Goals
are satisfied.  Notwithstanding the foregoing, in the event of the Participant's
Retirement  before  the  end of the  Award  Cycle,  a  prorated  portion  of the
Performance Shares and associated reinvested  dividends,  which portion shall be
prorated based on the Participant's length of employment during the Award Cycle,
shall be considered to be earned and payable to the extent of the  Corporation's
attainment of the Performance  Goals  (determined  pursuant to Section 1) during
the  period  commencing  on the Date of Grant and  ending on the last day of the
calendar  quarter  last  completed  prior  to the date of such  Retirement.  The
delivery of any shares of Common Stock earned under this Section 4 shall be made
in  accordance  with  Section 3, but in no event later than two and  one-half (2
1/2) months after the close of the fiscal year in which the Retirement occurs.

      Section 5.  Change of Control.  In the event of a Change of  Control,  the
Performance Shares and associated reinvested dividends shall be considered to be
earned and payable to the extent that the Performance  Goals have been satisfied
during the period  beginning  on the Date of Grant and ending on the date of the
Change  of  Control,  and such  Performance  Shares  and  associated  reinvested
dividends  shall  be  settled  in cash as soon as  administratively  practicable
following such Change of

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                                       4

Control,  but in no event later than two and  one-half (2 1/2) months  after the
close of the fiscal year in which the Change of Control occurs.

      Section 6. Transfer  Restrictions.  Subject to the  provisions of the Plan
and this Agreement,  during the Award Cycle,  Performance  Shares and associated
reinvested  dividends  may  not  be  sold,  assigned,  transferred,  pledged  or
otherwise encumbered.

      Section 7. Terms and Conditions of Plan. The terms and conditions included
in the Plan are incorporated by reference in this Agreement,  and, to the extent
that any conflict may exist between any term or provision of this  Agreement and
any term or  provision  of the Plan,  the term or  provision  of the Plan  shall
control.

      Section 8.  Headings.  The headings and other  captions  contained in this
Agreement  are for  convenience  and  reference  only and  shall  not be used in
interpreting, construing, or enforcing any of the provisions of this Agreement.

      Section 9. Entire  Agreement.  This Agreement and the attached  Exhibit A,
which is  incorporated  herein by  reference,  set  forth  all of the  promises,
agreements, conditions, understandings,  warranties, and representations between
the  parties  to this  Agreement  with  respect  to the  Performance  Shares and
associated  reinvested  dividends,  and  there  are  no  promises,   agreements,
conditions,  understandings,  warranties,  or representations,  oral or written,
express or implied,  between  them with  respect to the  Performance  Shares and
associated reinvested dividends other than as set forth in this Agreement.  This
Agreement  is, and is intended by the parties to be, an  integration  of any and
all prior  agreements or  understandings,  oral or written,  with respect to the
Performance Shares and associated reinvested dividends.

      Section 10.  Further  Agreements.  The  Participant  agrees to execute any
further  documents  or  instruments  necessary  or  desirable  to carry  out the
purposes or intent of this Agreement.

      Section  11.  Genders.  The use of any gender in this  Agreement  shall be
deemed to be or include the other  genders,  and the use of the singular in this
Agreement shall be deemed to be or include the plural (and vice versa), wherever
appropriate.

      Section 12.  Notices.  Any and all notices  provided for in this Agreement
shall be addressed: (i) if to the Corporation, to the principal executive office
of the  Corporation  in  care of the  Corporate

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                                       5

Secretary; and (ii) if to the Participant,  to the address of the Participant as
reflected on the records of the Corporation or any employer - Affiliate.

      Section  13.  Invalid  or  Unenforceable  Provisions.  The  invalidity  or
unenforceability of any particular  provision of this Agreement shall not affect
the other provisions of this Agreement, and this Agreement shall be construed in
all respects as if those invalid or unenforceable provisions were omitted.

      Section 14.  Governing Law. This Agreement shall be construed and enforced
in accordance with the laws of New York.

      Section 15.  Modifications.  Any  modification  of this  Agreement must be
written  and signed by the  parties  to this  Agreement  to be valid;  provided,
however,  that the Participant  covenants and agrees to execute any amendment to
this  Agreement  that shall be  required  or  desirable  (in the  opinion of the
Corporation or its counsel) to comply with any rule or regulation promulgated or
proposed under the Code by the Internal Revenue Service.

      Section  16.  Compliance  with  Section  409A of the Code.  To the  extent
applicable,  it is  intended  that this  Agreement  and the Plan comply with the
provisions  of Section 409A of the Code.  This  Agreement  and the Plan shall be
administered  in a manner  consistent  with this intent,  and any provision that
would cause the  Agreement  or the Plan to fail to satisfy  Section  409A of the
Code shall have no force and effect until amended to comply with Section 409A of
the Code (which  amendment may be retroactive to the extent permitted by Section
409A of the Code and may be made by the  Corporation  without the consent of the
Participant).

      Section 17.  Unsecured  Creditor.  The  Participant  acknowledges  that no
assets of the  Corporation  shall be  segregated  for the purpose of  delivering
Common  Stock  under this  Agreement  or shall be held (or deemed to be held) in
trust for the benefit of the Participant. It is the intention of the Participant
and the  Corporation  that all payment  obligations  under this Agreement  shall
constitute at all times general unsecured obligations of the Corporation.

                            [SIGNATURE PAGE FOLLOWS]

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                                       6

      IN WITNESS WHEREOF, the Corporation and the Participant have executed this
Agreement as of the day and year first above written.

                                                     CH ENERGY GROUP, INC.

ATTEST:

________________________________    By:_________________________________________
Name: Lincoln E. Bleveans              Name: Steven V. Lant
Title: Secretary & Assistant           Title: Chairman of the Board, President &
        Treasurer                               Chief Executive Officer

                                    PARTICIPANT:

WITNESS:

________________________________    ____________________________________________
                                   DATED: _____________________

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                                       7

                                    EXHIBIT A

Performance Goals

Each Performance Goal shall be evaluated  separately to determine the applicable
payout percentage as shown below.

1.    Earnings Per Share. If the percentage growth in the Corporation's earnings
      per  share  during  the  Award  Cycle  is in the  percentile  range of the
      percentage  growth in earnings per share of the companies in the EEI Index
      during the same period,  as set forth below,  then such  Performance  Goal
      shall be assigned the payout percentage set forth opposite such percentile
      range.

2.    Dividend Yield. If the average of the Corporation's  annual dividend yield
      on book value  during the Award  Cycle is in the  percentile  range of the
      average of the annual dividend yield on book value of the companies in the
      EEI  Index  during  the  same  period,  as  set  forth  below,  then  such
      Performance  Goal  shall be  assigned  the  payout  percentage  set  forth
      opposite such percentile range.

Calculation of Performance Shares Earned

The number of Performance  Shares earned shall be determined by multiplying  (i)
the average of the payout  percentages  assigned to each  Performance  Goal,  as
described  above,  by (ii) the  number of the  Performance  Shares  set forth in
Section 1 of this Agreement (as adjusted for reinvested dividends).

--------------------------------------------------------------------------------
   Percentile Rank for Performance Goal
          Relative to EEI Index                     Payout Percentage
--------------------------------------------------------------------------------
               80% or more                                150.0%
--------------------------------------------------------------------------------
                   79%                                    148.3%
--------------------------------------------------------------------------------
                   78%                                    146.6%
--------------------------------------------------------------------------------
                   77%                                    145.0%
--------------------------------------------------------------------------------
                   76%                                    143.3%
--------------------------------------------------------------------------------
                   75%                                    141.6%
--------------------------------------------------------------------------------
                   74%                                    140.0%
--------------------------------------------------------------------------------
                   73%                                    138.3%
--------------------------------------------------------------------------------
                   72%                                    136.6%
--------------------------------------------------------------------------------
                   71%                                    135.0%
--------------------------------------------------------------------------------
                   70%                                    133.3%
--------------------------------------------------------------------------------
                   69%                                    131.6%
--------------------------------------------------------------------------------
                   68%                                    130.0%
--------------------------------------------------------------------------------
                   67%                                    128.3%
--------------------------------------------------------------------------------
                   66%                                    126.6%
--------------------------------------------------------------------------------
                   65%                                    125.0%
--------------------------------------------------------------------------------

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                                       8

--------------------------------------------------------------------------------
                   64%                                    123.3%
--------------------------------------------------------------------------------
                   63%                                    121.6%
--------------------------------------------------------------------------------
                   62%                                    120.0%
--------------------------------------------------------------------------------
                   61%                                    118.3%
--------------------------------------------------------------------------------
                   60%                                    116.6%
--------------------------------------------------------------------------------
                   59%                                    115.0%
--------------------------------------------------------------------------------
                   58%                                    113.3%
--------------------------------------------------------------------------------
                   57%                                    111.6%
--------------------------------------------------------------------------------
                   56%                                    110.0%
--------------------------------------------------------------------------------
                   55%                                    108.3%
--------------------------------------------------------------------------------
                   54%                                    106.6%
--------------------------------------------------------------------------------
                   53%                                    105.0%
--------------------------------------------------------------------------------
                   52%                                    103.3%
--------------------------------------------------------------------------------
                   51%                                    101.6%
--------------------------------------------------------------------------------
                   50%                                    100.0%
--------------------------------------------------------------------------------
                   49%                                    96.7%
--------------------------------------------------------------------------------
                   48%                                    93.3%
--------------------------------------------------------------------------------
                   47%                                    90.0%
--------------------------------------------------------------------------------
                   46%                                    86.7%
--------------------------------------------------------------------------------
                   45%                                    83.3%
--------------------------------------------------------------------------------
                   44%                                    80.0%
--------------------------------------------------------------------------------
                   43%                                    76.7%
--------------------------------------------------------------------------------
                   42%                                    73.3%
--------------------------------------------------------------------------------
                   41%                                    70.0%
--------------------------------------------------------------------------------
                   40%                                    66.7%
--------------------------------------------------------------------------------
                   39%                                    63.3%
--------------------------------------------------------------------------------
                   38%                                    60.0%
--------------------------------------------------------------------------------
                   37%                                    56.7%
--------------------------------------------------------------------------------
                   36%                                    53.3%
--------------------------------------------------------------------------------
                   35%                                    50.0%
--------------------------------------------------------------------------------
                   34%                                    46.7%
--------------------------------------------------------------------------------
                   33%                                    43.3%
--------------------------------------------------------------------------------
                   32%                                    40.0%
--------------------------------------------------------------------------------
                   31%                                    36.7%
--------------------------------------------------------------------------------
                   30%                                    33.3%
--------------------------------------------------------------------------------
                   29%                                    30.0%
--------------------------------------------------------------------------------
                   28%                                    26.7%
--------------------------------------------------------------------------------
                   27%                                    23.3%
--------------------------------------------------------------------------------
                   26%                                    20.0%
--------------------------------------------------------------------------------
                   25%                                    16.7%
--------------------------------------------------------------------------------
                   24%                                    13.3%
--------------------------------------------------------------------------------
                   23%                                    10.0%
--------------------------------------------------------------------------------
                   22%                                     6.7%
--------------------------------------------------------------------------------
                   21%                                     3.3%
--------------------------------------------------------------------------------
               20% or below                                0.0%
--------------------------------------------------------------------------------Exhibit 4.1 (Plan)

    Exhibit
      4.1    

    
 

    COM-GUARD.COM,
      INC.

    

    2005
      STOCK INCENTIVE PLAN

    

    

    1.    Purpose
      of the Plan. The
      purpose of the 2005 Stock Incentive Plan (“Plan”) of COM-GUARD.COM, INC., a
      Nevada corporation, (“Company”) is to provide the Company with a means of
      compensating selected key employees (including officers) and directors of and
      consultants to the Company for their services rendered in connection with the
      development of COM-GUARD.COM, INC. with shares of Common Stock of the
      Company.

    

    2.    Administration
      of the Plan. The
      Plan
      shall be administered by the Company’s Board of Directors (the
“Board”).

    

    2.1    Award
      or Sales of shares.
      The
      Company’s Board shall (a) select those key employees (including officers),
      directors and consultants to whom shares of the Company’s Common Stock shall be
      awarded or sold, and (b) determine the number of shares to be awarded or sold;
      the time or times at which shares shall be awarded or sold; whether the shares
      to be awarded or sold will be registered with the Securities and Exchange
      Commission; and such conditions, rights of repurchase, rights of first refusal
      or other transfer restrictions as the Board may determine. Each award or sale
      of
      shares under the Plan may or may not be evidenced by a written agreement between
      the Company and the persons to whom shares of the Company’s Common Stock are
      awarded or sold. 

    

    2.2    Consideration
      for Shares.
      Shares
      of the Company’s Common Stock to be awarded or sold under the Plan shall be
      issued for such consideration, having a value not less than par value thereof,
      as shall be determined from time to time by the Board in its sole
      discretion.

    

    2.3    Board
      Procedures.
      The
      Board from time to time may adopt such rules and regulations for carrying out
      the purposes of the Plan as it may deem proper and in the best interests of
      the
      Company. The Board shall keep minutes of its meetings and records of its
      actions. A majority of the members of the Board shall constitute a quorum for
      the transaction of any business by the Board. The Board may act at any time
      by
      an affirmative vote of a majority of those members voting. Such vote shall
      be
      taken at a meeting (which may be conducted in person or by any telecommunication
      medium) or by written consent of Board members without a meeting.

    

    2.4    Finality
      of Board Action.
      The
      Board shall resolve all questions arising under the Plan. Each determination,
      interpretation, or other action made or taken by the Board shall be final and
      conclusive and binding on all persons, including, without limitation, the
      Company, its stockholders, the Board and each of the members of the Board.
      

    

    2.5    Non-Liability
      of Board Members.
      No
      Board member shall be liable for any action or determination made by him in
      good
      faith with respect to the Plan or any shares of the Company’s Common Stock sold
      or awarded under it.

    

    2.6    Board
      Power to Amend, Suspend, or Terminate the Plan.
      The
      Board may, from time to time, make such changes in or additions to the Plan
      as
      it may deem proper and in the best interests of the Company and its
      Stockholders. The Board may also suspend or terminate the Plan at any time,
      without notice, and in its sole discretion.

    

    3.    Shares
      Subject to the Plan.
      For
      purposes of the Plan, the Board of Directors is authorized to sell or award
      up
      to 13,000,000 shares and/or options of the Company’s Common Stock, $.001 par
      value per share (“Common Stock”).

    

    3.1    Grants
      of Stock Options.
      Stock
      Options granted under the Plan shall constitute "incentive stock options" within
      the meaning of Section 422 of the Code, if so designated by the Board on the
      date of grant. The Board shall also have the discretion to grant Stock Options
      which do not constitute incentive stock options, and any such Stock Options
      shall be designated non-statutory stock options by the Board on the date of
      grant. The aggregate fair market value (determined as of the time an incentive
      stock option is granted) of the Common Stock with respect to which incentive
      stock options are exercisable for the first time by any Employee during any
      one
      calendar year (under all plans of the Company and any parent or subsidiary
      of
      the Company) may not exceed the maximum amount permitted under Section 422
      of
      the Code (currently one hundred thousand dollars ($100,000.00)). Non-Statutory
      Stock Options (“NSO”) shall not be subject to the limitations relating to
      incentive stock options contained in the preceding sentence. Each Stock Option
      shall be evidenced by a written agreement (the "Option Agreement") in a form
      approved by the Board, which shall be executed on behalf of the Company and
      by
      the Employee to whom the Stock Option is granted, and which shall be subject
      to
      the terms and conditions of this Plan. The holder of a Stock Option shall not
      be
      entitled to the privileges of stock ownership as to any shares of Common Stock
      not actually issued to such holder.

    

    3.2    Assignability.
      Options
      granted under this Plan may be, if designated as such, assigned to third
      parties.

    

    3.3    Restrictions
      on Transfer.
      Each
      Stock Option granted under this Plan shall be transferable only by will or
      the
      laws of descent and distribution. No interest of any Employee under the Plan
      shall be subject to attachment, execution, garnishment, sequestration, the
      laws
      of bankruptcy or any other legal or equitable process. Each Stock Option granted
      under this Plan shall be exercisable during an Employee's lifetime only by
      such
      Employee or by such Employee's legal representative.

    

    4.    Participants.
      All key
      employees (including officers) and directors of and consultants to the Company
      and any of its subsidiaries (sometimes referred to herein as (“participants”)
      are eligible to participate in the Plan. A copy of this Plan shall be delivered
      to all participants, together with a copy of any Board resolutions authorizing
      the issuance of the shares and establishing the terms and conditions, if any,
      relating to the sale or award of such shares.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    4.1    Misconduct
      of an Employee.
      Notwithstanding any other provision of this Plan, if an Employee commits fraud
      or dishonesty toward the Company or wrongfully uses or discloses any trade
      secret, confidential data or other information proprietary to the Company,
      or
      intentionally takes any other action materially inimically to the best interests
      of the Company, as determined by the Committee, in its sole and absolute
      discretion, such Employee shall forfeit all rights and benefits under this
      Plan.

    

    5.    Rights
      and Obligations of Participants.
      The
      award or sale of shares of Common stock shall be conditioned upon the
      participant providing to the Board a written representation that, at the time
      of
      such award or sale, it is the intent of such person(s) to acquire the shares
      for
      investment only and not with a view toward distribution. The certificate for
      unregistered shares issued for investment shall be restricted by the Company
      as
      to transfer unless the Company receives an opinion of counsel satisfactory
      to
      the Company to the effect that such restriction is not necessary under the
      pertaining law. The providing of such representation and such restriction on
      transfer shall not, however, be required upon any person’s receipt of shares of
      Common Stock under the Plan in the event that, at the time of award or sale,
      the
      shares shall be (i) covered by an effective and current registration statement
      under the Securities Act of 1933, as amended, and (ii) either qualified or
      exempt from qualification under applicable state securities laws. The Company
      shall, however, under no circumstances be required to sell or issue any shares
      under the Plan if, in the opinion of the Board, (i) the issuance of such shares
      would constitute a violation by the participant or the Company of any applicable
      law or regulation of any governmental authority, or (ii) the consent or approval
      of any governmental body is necessary or desirable as a condition of, or in
      connection with, the issuance of such shares. 

    

    6.    Payment
      of Shares.

    

    (a)    The
      entire purchase price of shares issued under the Plan shall be payable in lawful
      money of the United States of America at the time when such shares are
      purchased.

    

    7.    Adjustments.
      If the
      outstanding Common Stock shall be hereafter increased or decreased, or changed
      into or exchanged for a different number or kind of shares or other securities
      of the Company or of another corporation, by reason of a recapitalization,
      reclassification, reorganization, merger, consolidation, share exchange, or
      other business combination in which the Company is the surviving parent
      corporation, stock split-up, combination of shares, or dividend or other
      distribution payable in capital stock or rights to acquire capital stock,
      appropriate adjustment shall be made by the Board in the number and kind of
      shares which may be granted under the Plan.

    

    8.    Tax
      Withholding.
      As a
      condition to the purchase or award of shares, the participant shall make such
      arrangements as the Board may require for the satisfaction of any federal,
      state, local or foreign withholding tax obligations that may arise in connection
      with such purchase or award.

    

    9.    Terms
      of the Plan.

    

    9.1    Effective
      Date.
      The
      Plan shall become effective on June 16, 2005.

    

    9.2    Termination
      Date.
      The
      Plan shall terminate at Midnight on June 30, 2008, and no shares shall be
      awarded or sold after that time. The Plan may be suspended or terminated at
      any
      earlier time by the Board within the limitations set forth in Section
      2.6.

    

    10.    Non-Exclusivity
      of the Plan.
      Nothing
      contained in the Plan is intended to amend, modify, or rescind any previously
      approved compensation plans, programs or options entered into by the Company.
      This Plan shall be construed to be in addition to and independent of any and
      all
      such other arrangements. The adoption of the Plan by the Board shall not be
      construed as creating any limitations on the power of authority of the Board
      to
      adopt, with or without stockholder approval, such additional or other
      compensation arrangements as the Board may from time to time deem
      desirable.

    

    11.    Compliance
      With Rule 16b-3.
      Transactions under the Plan are intended to comply with all applicable
      conditions of Rule 16b-3. To the extent that any provision of the Plan or action
      by the Committee fails to so comply, it shall be deemed null and void, to the
      extent permitted by law and deemed advisable by the Committee.

    

    12.    Governing
      Law.
      The
      Plan and all rights and obligations under it shall be construed and enforced
      in
      accordance with the laws of the United State of
      America.

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