Document:

EXHIBIT 4.1

                     RRESOURCE ASSET MANAGEMENT CORPORATION
                         2002 STOCK COMPENSATION PROGRAM

     1. Purpose. This 2002 Stock Compensation Program (the "Program") is
intended to secure for RESOURCE ASSET MANAGEMENT CORPORATION, a Nevada
corporation (the "Company"), its subsidiaries, and its stockholders the benefits
arising from ownership of the Company's common stock (the "Common Stock") by
those selected individuals of the Company and its subsidiaries, who will be
responsible for the future growth of such corporations. The Program is designed
to help attract and retain superior personnel for positions of substantial
responsibility with the Company and its subsidiaries, and to provide individuals
with an additional incentive to contribute to the success of the corporations.

     2. Elements of the Program. The Program is composed of two parts. The first
part is the Stock Bonus Plan ("Bonus Plan") under which (i) common stock shares
are granted to key employees and consultants as a bonus for performing duties
essential in the growth of the company. The second part is the Executive Stock
Option Plan (the "Executive Plan") under which (i) units representing the
equivalent of shares of Common Stock (the "Performance Shares") are granted;
(ii) payments of compensation in the form of shares of Common Stock (the "Stock
Payments") are granted; and (iii) rights to receive cash or shares of Common
Stock as a bonus, based on the performance of the executive or Key Independent
Contractor (Bonus Shares).

     3. Applicability of General Provisions. Unless any Plan specifically
indicates to the contrary, all Plans shall be subject to the General Provisions
of the Program set forth below.

     4. Administration of the Plans. The Plans shall be administered, construed,
governed, and amended in accordance with their respective terms.

                GENERAL PROVISIONS OF STOCK COMPENSATION PROGRAM

     Article 1. Administration. The Program shall be administered by the
Company's Board of Directors (the "Program Administrators"). The Program
Administrators shall hold meetings at such times and places as they may
determine and as necessary to approve all grants and other transactions under
the Program as required under Rule 16b-3(d) under the Exchange Act, shall keep
minutes of their meetings, and shall adopt, amend, and revoke such rules and
procedures as they may deem proper with respect to the Program. Any action of
the Program Administrators shall be taken by majority vote or the unanimous
written consent of the Program Administrators.

     Article 2. Authority of Program Administrators. Subject to the other
provisions of this Program, and with a view to effecting its purpose, the
Program Administrators shall have sole authority, in their sole and absolute
discretion, (a) to construe and interpret the Program; (b) to define the terms
used herein; (c) to determine the individuals to whom options and restricted
shares and rights to purchase shares shall be granted under the Program; (d) to
determine the time or times at which options and restricted shares, rights to
purchase shares or other awards shall be granted under the Program; (e) to
determine the number and type of shares or securities subject to each option,
restricted share, purchase right or other award, the duration of each award
granted under the Program, and the price of any share purchase; (f) to determine
all of the other terms and conditions of options, restricted shares, purchase
rights and other awards granted under the Program; and (g) to make all other
determinations necessary or advisable for the administration of the Program and
to do everything necessary or appropriate to administer the Program; provided,
however, that the Board shall establish the price for all shares issued
hereunder. All decisions, determinations, and interpretations made by the
Program Administrators shall be binding and conclusive on all participants in
the Program (the "Plan Participants") and on their legal representatives, heirs
and beneficiaries.

     Article 3. Maximum Number of Shares Subject to the Program. Subject to the
provisions of Article 7, the maximum aggregate number of shares of Common Stock
subject to this Program shall be three million (3,000,000) shares. Subject to
the limitation contained in Section 2 of Part 1, the maximum number of shares of
common stock issuable pursuant to the Program to any single Program Participant

<PAGE>

in any given fiscal year shall be determined by the Program Administrators. The
Board of Directors of the Company shall make recommendations to the Program
Administrators from time to time with respect to the allocation of the shares
reserved under the Program for the directors, officers, employees and agents of
the Company and its subsidiaries. The shares of Common Stock issued under the
Program may be authorized but unissued shares, shares issued and reacquired by
the Company or shares purchased by the Company on the open market. If any of the
options granted under the Program expire or terminate for any reason before they
have been exercised in full, the unpurchased shares subject to those expired or
terminated options shall cease to reduce the number of shares available for
purposes of the Program. If the conditions associated with the grant of
restricted shares are not achieved within the period specified for satisfaction
of the applicable conditions, or if the restricted share grant terminates for
any reason before the date on which the conditions must be satisfied, the shares
of Common Stock associated with such restricted shares shall cease to reduce the
number of shares available for purposes of the Program.

     The proceeds received by the Company from the sale of its Common Stock
pursuant to the exercise of options, transfer of restricted shares or issuance
of stock purchased under the Program, if in the form of cash, shall be added to
the Company's general funds and used for general corporate purposes.

     Notwithstanding anything to the contrary in this Program, at no time that
the Program is subject to qualification under the California Corporations Code
shall the total number of shares issuable upon exercise of all outstanding
options and the total number of shares provided for under any stock bonus or
similar plan of the Company exceed the applicable percentage as calculated in
accordance with the conditions and exclusions of Rule 260.140.45 of the
California Code of Regulations, based on the number of shares of the Company
which are outstanding at the time the calculation is made, unless such
limitation is approved in accordance with such Rule.

     Article 4. Eligibility and Participation. Officers, employees, directors
(whether employee directors or non-employee directors), and independent
contractors or agents of the Company or its subsidiaries who are responsible for
or contribute to the management, growth or profitability of the business of the
Company or its subsidiaries shall be eligible for selection by the Program
Administrators to participate in the Program, and Consultants or advisors of the
Company or its subsidiaries shall be eligible to receive awards under the
Program

     The term "subsidiary" as used herein means any company, other than the
Company, in an unbroken chain of companies, beginning with the Company if, at
the time of any grant hereunder, each of the companies, other than the last
company in the unbroken chain, owns stock possessing more than 50% of the total
combined voting power of all classes of stock in one of the other companies in
such chain.

     Article 5. Effective Date and Term of Program. The Program became effective
April 15,2002 upon its adoption by the Board of Directors of the Company subject
to approval of the Program by a majority of the voting shares of the Company
voting in person or by proxy at the annual meeting of stockholders. The Program
shall continue in effect for a term of 5 years unless sooner terminated under
Article 8 of these General Provisions.

     Article 6. Termination and Amendment of Program. The Program shall
terminate five (5) years from the date the Program is adopted by the Board of
Directors, or, if applicable, the date a particular Plan is approved by the
stockholders, or shall terminate at such earlier time as the Board of Directors
may so determine. No options shall be granted and no stock shall be sold and
purchased under the Program after that date

     Article 7. Prior Rights and Obligations. No amendment, suspension, or
termination of the Program shall, without the consent of the individual who has
received a bonus or Deferral option, alter or impair any of that individual's
rights or obligations under any option or restricted share granted or shares
sold and purchased under the Program prior to that amendment, suspension, or
termination.

     Article 8. Privileges of Stock Ownership. Notwithstanding the exercise of
any option granted pursuant to the terms of this Program, the achievement of any
conditions specified in any restricted share granted pursuant to the terms of
this Program or the election to purchase any shares pursuant to the terms of
this Program, no individual shall have any of the rights or privileges of a
stockholder of the Company in respect of any shares of stock issuable upon the
exercise of his or her option, the satisfaction of his or her restricted share
conditions or the sale, purchase and issuance of such purchased shares until
certificates representing the shares have been issued and delivered.

<PAGE>

     Article 9. Reservation of Shares of Common Stock. The Company, during the
term of this Program, will at all times reserve and keep available such number
of shares of its Common Stock as shall be sufficient to satisfy the requirements
of the Program. In addition, the Company will from time to time, as is necessary
to accomplish the purposes of this Program, seek or obtain from any regulatory
agency having jurisdiction any requisite authority in order to issue and sell
shares of Common Stock hereunder. The inability of the Company to obtain from
any regulatory agency having jurisdiction the authority deemed by the Company's
counsel to be necessary to the lawful issuance and sale of any shares of its
stock hereunder shall relieve the Company of any liability in respect of the
nonissuance or sale of the stock as to which the requisite authority shall not
have been obtained.

     Article 10. Tax Withholding. The exercise of any option or restricted share
granted or the sale and issuance of any shares to be purchased under this
Program are subject to the condition that if at any time the Company shall
determine, in its discretion, that the satisfaction of withholding tax or other
withholding liabilities under any state or federal law is necessary or desirable
as a condition of, or in connection with, such exercise or the delivery or
purchase of shares pursuant thereto, then in such event, the exercise of the
option or restricted share or the sale and issuance of any shares to be
purchased shall not be effective unless such withholding shall have been
effected or obtained in a manner acceptable to the Company. At the Company's
sole and absolute discretion, the Company may, from time to time, accept shares
of the Company's Common Stock subject to one of the Plans as the source of
payment for such liabilities.

     Article 11. Compliance with Law. It is the express intent of the Company
that this Program complies in all respect with all applicable provisions of
state and federal law, including without limitation Section 25102(o) of the
California Corporations Code to the extent such Section is applicable to the
Company. It is the express intent of the Company that when any equity security
of the Company is registered pursuant to Section 12 of the Exchange Act, this
Program shall comply in all respects with applicable provisions of the Rule
16b-3 or Rule 16a-1(c)(3) under the Exchange Act in connection with any grant of
awards to, or other transaction by, a Plan Participant who is subject to Section
16 of the Exchange Act (except for transactions exempted under alternative
Exchange Act rules). Accordingly, if any provision of the Program or any
agreement relating to any award thereunder does not comply with Rule 16b-3 or
Rule 16a-1(c)(3) or Section 25102(o) of the California Corporations Code as then
applicable to any such transaction, such provision will be construed or deemed
amended to the extent necessarily to conform to the applicable requirements of
Rule 16b-3 or Rule 16a-1(c)(3) or Section 25102(o) of the California
Corporations Code so that such Plan Participant shall avoid liability under
Section 16(b) and the Program shall comply with Section 25102(o) as then
applicable to any such transaction. Unless otherwise provided in any grant or
award to any person who is or may thereafter be subject to Section 16 of the
Exchange Act, the approval of such grant or award shall include the approval of
the disposition of the Company of Company equity securities for the purposes of
satisfying the payment of the exercise or purchase price or tax withholding
obligations related to such grant or award within the meaning of Rules
16a-1(c)(3) and 16b-3(e).

     Article 12. Indemnification. No Program Administrator, as that term is
defined in the Program, or any officer or employee of the Company or an
affiliate acting at the direction or on behalf of the Program Administrator
shall be personally liable for any action or determination taken or made in good
faith with respect to the Program, and shall, to the extent permitted by law, be
fully indemnified and protected by the Company with respect to any such action
or determination.

     Article 13. Death Beneficiaries. In the event of a Plan Participant's
death, all of such person's outstanding awards, including his or her rights to
receive any accrued but unpaid Stock Payments, will transfer to the maximum
extent permitted by law to such person's beneficiary. Each Plan Participant may
name, from time to time, any beneficiary or beneficiaries (which may be named
contingently or successively) as his or her beneficiary for purposes of this
Program. Each designation shall be on a form prescribed by the Program
Administrators, will be effective only when delivered to the Company, and when
effective will revoke all prior designations by the Plan Participant. If a Plan
Participant dies with no such beneficiary designation in effect, such person's
beneficiary shall be his or her estate and such person's awards will be
transferable by will or pursuant to laws of descent and distribution applicable
to such person.

     Article 14. Unfunded Program. The Program shall be unfunded and the Company
shall not be required to segregate any assets that may at any time be
represented by awards under the Program. Neither the Company, its affiliates,
the Program Administrators, nor the Board shall be deemed to be a trustee of any
amounts to be paid under the Program nor shall anything contained in the Program
or any action taken pursuant to its provisions create or be construed to create
a fiduciary relationship between any such party and a Plan Participant or anyone
claiming on his or her behalf. To the extent a Plan Participant or any other
person acquires a right to receive payment pursuant to an award under the
Program, such right shall be no greater than the right of an unsecured general
creditor of the Company.

<PAGE>

     Article 15. Choice of Law and Venue. The Program and all related documents
shall be governed by, and construed in accordance with, the laws of the State of
Nevada. Acceptance of an award shall be deemed to constitute consent to the
jurisdiction and venue of the state and federal courts located in Clark County,
State of Nevada for all purposes in connection with any suit, action or other
proceeding relating to such award, including the enforcement of any rights under
the Program or any agreement or other document, and shall be deemed to
constitute consent to any process or notice of motion in connection with such
proceeding being served by certified or registered mail or personal service
within or without the State of Nevada, provided a reasonable time for appearance
is allowed.

     Article 16 Arbitration. Any disputes involving the Program will be resolved
by arbitration in Clark County, Nevada before one (1) arbitrator in accordance
with the Commercial Arbitration Rules of the American Arbitration Association.

     Article 17. Program Administrators' Right. Except as may be provided in an
award agreement, the Program Administrators may, in their discretion, waive any
restrictions or conditions applicable to, extend or modify any period (including
any period in which an option or other exercisable award may be exercised,
subject to the requirements of the Code) applicable to, or accelerate the
vesting of, any award (other than the right to purchase shares pursuant to the
Stock Purchase Plan).

     Article 18. Termination of Benefits Under Certain Conditions. The Program
Administrators, in their sole and absolute discretion, may cancel any unexpired,
unpaid or deferred award (other than a right to purchase shares pursuant to the
Stock Purchase Plan) at any time if the Plan Participant is not in compliance
with all applicable provisions of the Program or any award agreement or if the
Plan Participant, whether or not he or she is currently employed by the Company
or one of its subsidiaries, acts in a manner contrary to the best interests of
the Company and its subsidiaries.

     Article 19. Conflicts in Program. In case of any conflict in the terms of
the Program, or between the Program and an award agreement, the provisions in
the Program which specifically grant such award shall control, and the
provisions in the Program shall control over the provisions in any award
agreement.

     Article 20. Information to Plan Participants. To the extent required by
applicable law, the Company shall provide Plan Participants with the Company's
financial statements at least annually.

     Article 21. Company's Right of Repurchase. In the event that a Plan
Participant's employment with or service to the Company is terminated for any
reason or any of its subsidiaries, the Company shall have the right, unless
waived by the Program Administrators at the time of any award or thereafter, to
repurchase all, of the securities that such Plan Participant has purchased or
has been awarded under the Program on the following terms:

          (a) Upon a Plan Participant's termination of employment with or
service to the Company or any of its subsidiaries, the Company shall have the
right for a period of ninety (90) days from the last day of employment or
service to repurchase all, of the securities awarded to or purchased by the Plan
Participant under the Program.

          (b) The Company shall notify the Plan Participant within ninety (90)
days of the last day of employment or service regarding the exercise of its
right of repurchase.

          (c) If the Company exercises its right of repurchase, the Company will
purchase the securities within thirty (30) days of delivery of the notice of its
election to purchase at the higher of (i) the Fair Market Value on the Plan
Participant's date of termination, or (ii) the Fair Market Value of such
securities on the date of the Company's notification of election to repurchase.

     Article 22. Lock-Up. To the extent requested by any managing underwriter to
the Company, the Plan Participants shall enter into such market lock-up, escrow
or other agreements as may be requested by such underwriter in connection with
any public offering of the Company's securities.

<PAGE>

                                     PART I
                     RESOURCE ASSETT MANAGEMENT CORPORATION
                                STOCK BONUS PLAN

     Section 1. Purpose. The purpose of the Resources Asset Management
Corporation Stock Bonus Plan (the "Bonus") is to promote the growth and general
prosperity of the Company by permitting the Company to grant registered shares
to help attract and retain superior personnel for positions of substantial
responsibility with the Company and its subsidiaries and to provide individuals
with an additional incentive to contribute to the success of the Company. The
Stock Bonus Plan is Part I of the Program. Unless any provision herein indicates
to the contrary, the Stock Bonus Plan shall be subject to the General Provisions
of the Program and terms used but not defined in this Stock Bonus Plan shall
have the meanings, if any, ascribed thereto in the General Provisions of the
Program.

     Section 2. Terms and Conditions. The terms and conditions of shares granted
under the Bonus Plan may differ from one another as the Program Administrators
shall, in their discretion, determine as long as all shares granted under the
Bonus Plan satisfy the requirements of the Stock Bonus Plan.

     Each Bonus agreement shall provide to the recipient (the "Holder") the
transfer of a specified number of shares of Common Stock of the Company that
shall become nonforfeitable upon the execution of the Stock Bonus Plan Agreement
(Bonus Agreement). At the time that the bonus is granted, the Program
Administrators shall specify the service or performance conditions and the
period of duration over which the conditions apply.

     The Holder shall not have any rights with respect to such award, unless and
until such Holder has executed an agreement evidencing the terms and conditions
of the award (the "Stock Bonus Agreement"). Each individual who is awarded
shares shall be issued a stock certificate in respect of such shares. Such
certificate shall be registered in the name of the Holder.

     The transferability of this certificate and the shares of stock represented
     hereby are subject to the terms and conditions (including forfeiture) of
     the RAMC Incorporated Stock Bonus Plan entered into between the registered
     owner and RAMC Incorporated. Copies of such Plan and Agreement are on file
     in the offices of RAMC Incorporated.

     The Program Administrators shall require that the stock certificates
evidencing such shares be held in the custody of the company until the
applicable conditions have been satisfied.

     Section 3. Transferablity. Subject to the provisions of the Bonus Plan
Agreements, as may be set by the Program Administrators commencing on the grant
date, the Holder shall be permitted to sell, transfer, pledge, or assign shares
awarded under the Stock Bonus Plan.

     Section 4. Share Rights Upon Employment or Service. If a Holder terminates
employment or service with the company, any shares granted to him shall not be
forfeited by the Holder.

     Section 5. Stockholder Rights. The Holder shall have, with respect to the
shares granted, all of the rights of a stockholder of the Company, including the
right to vote the shares, and the right to receive any dividends thereon.
Certificates for shares of stock shall be delivered to the Holder promptly
after, and only after, the Bonus Plan Agreement shall be executed.

     Section 6. Compliance with Securities Laws. Shares shall not be issued
under the Stock Bonus Plan unless the issuance and delivery of the shares
pursuant thereto shall comply with all relevant provisions of foreign, state and
federal law, including, without limitation, the Securities Act of 1933, as
amended, and the Exchange Act, and the rules and regulations promulgated
thereunder, and the requirements of any stock exchange upon which the shares may
then be listed, and shall be further subject to the approval of counsel for the
Company with respect to such compliance. The Program Administrators may also
require a Holder to furnish evidence satisfactory to the Company, including a
written and signed representation letter and consent to be bound by any transfer
restrictions imposed by law.

     Section 7. Continued Employment or Service. This agreement is contingent
upon continued employment or service.

<PAGE>

                                RAMC INCORPORATED
                           STOCK BONUS PLAN AGREEMENT

     THIS AGREEMENT is made as of __________, _____, by and between RAMC
Incorporated a Nevada corporation (the "Company"), and _______________________
("Holder"):

     WHEREAS, the Company maintains the RAMC Incorporated Stock Bonus Plan
("Stock Bonus Plan") under which the Program Administrators grant shares of the
Company's common stock, no par value ("Common Stock") to employees and
non-employees as the Program Administrators may determine, subject to terms,
conditions, or restrictions as they may deem appropriate; and

     WHEREAS, pursuant to the Stock Bonus Plan, the Program Administrators have
awarded to Holder a stock bonus award conditioned upon the execution by the
Company and Holder of a Stock Bonus Plan Agreement setting forth all the terms
and conditions applicable to such award.

     NOW, THEREFORE, in consideration of termination of the Stock Option plan
entered into between Company and Holder and of the mutual promises and covenants
contained herein, it is hereby agreed as follows:

1.   Award of Shares.

     Under the terms of the Stock Bonus Plan, the Program Administrators hereby
award and transfer to Holder a stock award on __________,2002 ("Grant Date"),
covering shares of Common Stock ("Shares") subject to the terms, conditions, and
restrictions set forth in this Agreement. This transfer of Shares shall
constitute a transfer of such property in connection with Holder's performance
of service to the Company (which transfer is intended to constitute a "transfer"
for purposes of Section 83 of the Internal Revenue Code).

2.   Stock Certificates.

     A stock certificate evidencing the Shares shall be issued in the name of
Holder as of the Grant Date. Holder shall thereupon be the shareholder of all
the Shares represented by the stock certificate. As such, Holder shall be
entitled to all rights of a stockholder of the Company, including the right to
vote the Shares and receive dividends and/or other distributions declared on
such Shares.

3.   Administration.

     The Program Administrators shall have full authority and discretion
(subject only to the express provisions of the Stock Bonus Plan) to decide all
matters relating to the administration and interpretation of the Stock Bonus
Plan and this Agreement. All such Program Administrators determinations shall be
final, conclusive, and binding upon the Company, Holder, and any and all
interested parties.

4.   Right to Continued Employment or Service.

     Nothing in the Stock Bonus Plan or this Agreement shall confer on Holder
any right to continue in the employ of or service to the Company or, except as
may otherwise be limited by a written agreement between the Company and Holder,
in any way affect the Company's right to terminate Holder's employment or
service, at will, at any time without prior notice at any time for any or no
reason (whether by dismissal, discharge, retirement or otherwise).

5.   Amendment.

     This Agreement shall be subject to the terms of the Stock Bonus Plan as
amended, the terms of which are incorporated herein by reference. However, the
stock bonus award that is the subject of this Agreement may not in any way be
restricted or limited by any Stock Bonus Plan amendment or termination approved
after the date of the award without Holder's written consent.

<PAGE>

6.   Force and Effect.

     The various provisions of this Agreement are severable in their entirety.
Any determination of invalidity or unenforceability of any one provision shall
have no effect on the continuing force and effect of the remaining provisions.

7.   Governing Law.

     This Agreement shall be construed and enforced in accordance with and
governed by the laws of the State of Nevada.

8.   Successors.

     This Agreement shall be binding upon and inure to the benefit of the
successors, assigns, and heirs of the respective parties.

9.   Notice.

     All notices, requests, demands, and other communications hereunder shall be
in writing and shall be deemed to have been duly given if delivered personally
or by certified mail, return receipt requested, as follows:

     To Company:    RAMC Incorporated
                    18592 Mac Arthur Blvd STE 300
                    Irvine Ca 92612

     To Holder:     ------------------------------

                    ------------------------------

                    ------------------------------

10.  Incorporation of Plan by Reference.

     The Shares are awarded pursuant to the terms of the Plan, the terms of
which are incorporated herein by reference, and the Share award shall in all
respects be interpreted in accordance with the Plan. The Program Administrators
shall interpret and construe the Plan and this instrument, and its
interpretations and determinations shall be conclusive and binding on the
parties hereto and any other person claiming an interest hereunder, with respect
to any issue arising hereunder or thereunder.

     In Witness Whereof, the parties hereto have signed this Agreement as of the
date hereof.

RESOURCE ASSETT MANAGEMENT CORPORATION,
a Nevada corporation

By:
------------------------------
President

ACCEPTED AND AGREED TO

------------------------------
 (Optionee)

By:
------------------------------
Name

<PAGE>

                                     PART II

                                RAMC Incorporated
                           Executive Stock Option Plan

     Section 1. Terms and Conditions. The purpose of the Resource Asset
Management Corporation Executive Stock Option Plan (the "Executive Plan") is to
promote the growth and general prosperity of the Company by permitting the
Company to grant restricted shares to help attract and retain superior personnel
for positions of substantial responsibility with the Company and its
subsidiaries to provide individuals with an additional incentive to the success
of the Company. The terms and conditions of Performance Shares, Stock Payments
or Bonus Rights granted under the Stock Rights Plan may differ from one another
as the Program Administrators shall, in their discretion, determine in each
stock rights agreement (the "Stock Rights Agreement"). Unless any provision
herein indicates to the contrary, this Stock Rights Plan shall be subject to the
General Provisions of the Program, and terms used but not defined in this Stock
Rights Plan shall have the meanings, if any, ascribed thereto in the General
Provisions of the Program.

     Section 2. Duration. Each Performance Share or Dividend Equivalent Right
and all rights thereunder granted pursuant to the terms of the Stock Rights Plan
shall expire on the date determined by the Program Administrators as evidenced
by the Stock Rights Agreement, but in no event shall any Performance Shares or
Dividend Equivalent Rights expire later than ten (10) years from the date on
which the Performance Shares or Dividend Equivalent Rights are granted. In
addition, each Performance Share, Stock Payment or Dividend Equivalent Right
shall be subject to early termination as provided in the Stock Rights Plan.

     Section 3. Grant. Subject to the terms and conditions of the Stock Rights
Agreement, the Program Administrators may grant Performance Shares, Stock
Payments or Dividend Equivalent Rights as provided under the Stock Rights Plan.
Each grant of Performance Shares, Dividend Equivalent Rights or Stock Payments
shall be evidenced by a Stock Rights Agreement, which shall state the terms and
conditions of each as the Program Administrators, in their sole and absolute
discretion, deem are not inconsistent with the terms of the Stock Rights Plan.

     Section 4. Performance Shares. Performance Shares shall become payable to a
Plan Participant based upon the achievement of specified Performance Objectives
and upon such other terms and conditions as the Program Administrators may
determine and specify in the Stock Rights Agreement evidencing such Performance
Shares. Each grant shall satisfy the conditions for performance-based awards
hereunder and under the General Provisions of the Program. A grant may provide
for the forfeiture of Performance Shares in the event of termination of
employment or other events, subject to exceptions for death, disability,
retirement or other events, all as the Program Administrators may determine and
specify in the Stock Rights Agreement for such grant. Payment may be made for
the Performance Shares at such time and in such form as the Program
Administrators shall determine and specify in the Stock Rights Agreement and
payment for any Performance Shares may be made in full in cash or by certified
cashier's check payable to the order of the Company or, if permitted by the
Program Administrators, by shares of the Company's Common Stock or by the
surrender of all or part of an award, or in other property, rights or credits
deemed acceptable by the Program Administrators or, if permitted by the Program
Administrators, by a combination of the foregoing. If any portion of the
purchase price is paid in shares of the Company's Common Stock, those shares
shall be tendered at their then Fair Market Value. Payment in shares of Common
Stock includes the automatic application of shares of Common Stock received upon
the exercise or settlement of Performance Shares or other option or award to
satisfy the exercise or settlement price.

<PAGE>

     Section 5. Stock Payments. The Program Administrators may grant Stock
Payments to a person eligible to receive the same as a bonus or additional
compensation or in lieu of the obligation of the Company or a subsidiary to pay
cash compensation under other compensatory arrangements, with or without the
election of the eligible person, provided that the Plan Participant will be
required to pay an amount equal to the aggregate par value of any newly issued
Stock Payments. A Plan Participant shall have all the voting, dividend,
liquidation and other rights with respect to shares of Common Stock issued to
the Plan Participant as a Stock Payment upon the Plan Participant becoming
holder of record of such shares of Common Stock; provided, however, the Program
Administrators may impose such restrictions on the assignment or transfer of
such shares of Common Stock as they deem appropriate and as are evidenced in the
Stock Rights Agreement for such Stock Payment.

     Section 6. Dividend Equivalent Rights. The Program Administrators may grant
Dividend Equivalent Rights in tandem with the grant of Incentive Options or
Nonqualified Options, SARs, Restricted Shares or Performance Shares that
otherwise do not provide for the payment of dividends on the shares of Common
Stock subject to such awards for the period of time to which such Dividend
Equivalent Rights apply, or may grant Dividend Equivalent Rights that are
independent of any other such award. A Dividend Equivalent Right granted in
tandem with another award may be evidenced by the agreement for such other
award; otherwise, a Dividend Equivalent Right shall be evidenced by a separate
Stock Rights Agreement. Payment may be made by the Company in cash or by shares
of the Company's Common Stock or by a combination of the foregoing, may be
immediate or deferred and may be subject to such employment, performance
objectives or other conditions as the Program Administrators may determine and
specify in the Stock Rights Agreement for such Dividend Equivalent Rights. The
total payment attributable to a share of Common Stock subject to a Dividend
Equivalent Right shall not exceed one hundred percent (100%) of the equivalent
dividends payable with respect to an outstanding share of Common Stock during
the term of such Dividend Equivalent Right, taking into account any assumed
investment (including assumed reinvestment in shares of Common Stock) or
interest earnings on the equivalent dividends as determined under the Stock
Rights Agreement in the case of a deferred payment, provided that such
percentage may increase to a maximum of two hundred percent (200%) if a Dividend
Equivalent Right is subject to a Performance Objective.

     Section 7. Compliance with Securities Laws. Securities shall not be issued
with respect to any award under the Stock Rights Plan, unless the issuance and
delivery of the securities pursuant thereto shall comply with all applicable
provisions of foreign, state and federal law, including, without limitation, the
Securities Act of 1933, as amended, and the Exchange Act, and the rules and
regulations promulgated thereunder, and the requirements of any stock exchange
upon which the securities may then be listed, and shall be further subject to
the approval of counsel for the Company with respect to such compliance. The
Program Administrators may also require a Plan Participant to furnish evidence
satisfactory to the Company, including a written and signed representation
letter and consent to be bound by any transfer restrictions imposed by law,
legend, condition, or otherwise, that the securities are being acquired only for
investment purposes and without any present intention to sell or distribute the
securities in violation of any state or federal law, rule, or regulation.
Further, each Plan Participant shall consent to the imposition of a legend on
the securities subject to his or her award and the imposition of stop-transfer
instructions restricting their transferability as required by law or by this
Section 7.

<PAGE>

     Section 8. Continued Employment or Service. Each Plan Participant, if
requested by the Program Administrators, must agree in writing as a condition of
receiving his or her award, to remain in the employment of, or service to, the
Company or any of its subsidiaries following the date of the granting of that
award for a period specified by the Program Administrators. Nothing in this
Stock Rights Plan in any award granted hereunder shall confer upon any Plan
Participant any right to continued employment by, or service to, the Company or
any of its subsidiaries, or limit in any way the right of the Company or any
subsidiary at any time to terminate or alter the terms of that employment or
service arrangement.

     Section 9. Rights Upon Termination of Employment or Service. If a Plan
Participant under this Stock Rights Plan ceases to be employed by, or provide
service to, the Company or any of its subsidiaries for any reason his or her
award shall immediately terminate.28

EXHIBIT 10.1   2002 NON-QUALIFIED STOCK COMPENSATION PLAN

                   2002 NON-QUALIFIED STOCK COMPENSATION PLAN

1.     PURPOSE OF PLAN

     1.1     This 2002 NON-QUALIFIED STOCK COMPENSATION PLAN (the "Plan") of
Xenicent, Inc. , a North Carolina corporation (the "Company") for employees,
directors, officers consultants, advisors and other persons associated with the
Company, is intended to advance the best interests of the Company by providing
those persons who have a substantial responsibility for its management and
growth with additional incentive and by increasing their proprietary interest in
the success of the Company, thereby encouraging them to maintain their
relationships with the Company.  Further, the availability and offering of stock
options and common stock under the Plan supports and increases the Company's
ability to attract and retain individuals of exceptional talent upon whom, in
large measure, the sustained progress, growth and profitability of the Company
depends.

2.     DEFINITIONS

     2.1     For Plan purposes, except where the context might clearly indicate
otherwise, the following terms shall have the meanings set forth below:

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

     "Committee" shall mean the Compensation Committee, or such other committee
appointed by the Board, which shall be designated by the Board to administer the
Plan, or the Board if no committees have been established.  The Committee shall
be composed of three or more persons as from time to time are appointed to serve
               ---------------------
by the Board.  Each member of the Committee, while serving as such, shall be a
disinterested person with the meaning of Rule 16b-3 promulgated under the
Securities Exchange Act of 1934.

     "Common Shares" shall mean the Company's Common Shares, $.001 par value per
share, or, in the event that the outstanding Common Shares are hereafter changed
into or exchanged for different shares of securities of the Company, such other
shares or securities.

     "Company" shall mean Xenicent, Inc., a North Carolina corporation, and any
parent or subsidiary corporation of Xenicent, Inc., as such terms are defined in
Sections 425(e) and 425(f), respectively, of the Code.

     "Fair Market Value" shall mean, with respect to the date a given stock
option is granted or exercised, the average of the highest and lowest reported
sales prices of the Common Shares, as reported by such responsible reporting
service as the Committee may select, or if there were not transactions in the
Common Shares on such day, then the last preceding day on which transactions
took place.  The above withstanding, the Committee may determine the Fair Market
Value in such other manner as it may deem more equitable for Plan purposes or as
is required by applicable laws or regulations.

     "Optionee" shall mean an employee of the company who has been granted one
or more Stock Options under the Plan.

     "Common Stock" shall mean shares of common stock which are issued by the
Company pursuant to Section 5, below.

     "Common Stockholder" means the employee of, consultant to, or director of
the Company or other person to whom shares of Common Stock are issued pursuant
to this Plan.

     "Common Stock Agreement" means an agreement executed by a Common
Stockholder and the Company as contemplated by Section 5, below, which imposes
on the shares of Common Stock held by the Common Stockholder such restrictions
as the Board or Committee deem appropriate.

     "Stock Option" or "Non-Qualified Stock Option" or "NQSO" shall mean a stock
option granted pursuant to the terms of the Plan.

     "Stock Option Agreement" shall mean the agreement between the Company and
the Optionee under which the Optionee may purchase Common Shares hereunder.

3.     ADMINISTRATION OF THE PLAN

     3.1     The Committee shall administer the Plan and accordingly, it shall
have full power to grant Stock Options and Common Stock, construe and interpret
the Plan, establish rules and regulations and perform all other acts, including
the delegation of administrative responsibilities, it believes reasonable and
proper.

     3.2     The determination of those eligible to receive Stock Options and
Common Stock, and the amount, type and timing of each grant and the terms and
conditions of the respective stock option agreements and Common Stock Agreements
shall rest in the sole discretion of the Committee, subject to the provisions of
the Plan.

     3.3     The Committee may cancel any Stock Options awarded under the Plan
if an Optionee conducts himself in a manner which the Committee determines to be
inimical to the best interest of the Company, as set forth more fully in
paragraph 8 of Article 11 of the Plan.

     3.4     The Board, or the Committee, may correct any defect, supply any
omission or reconcile any inconsistency in the Plan, or in any granted Stock
Option, in the manner and to the extent it shall deem necessary to carry it into
effect.

     3.5     Any decision made, or action taken, by the Committee or the Board
arising out of or in connection with the interpretation and administration of
the Plan shall be final and conclusive.

     3.6     The Committee shall, in its discretion, have the power to issue
Common Shares to holders of non-qualified incentive stock option agreements
which are outstanding as of the date hereof , pursuant to the terms of those
option agreements.

     3.7     Meetings of the Committee shall be held at such times and places as
shall be determined by the Committee.  A majority of the members of the
Committee shall constitute a quorum for the transaction of business, and the
vote of a majority of those members present at any meeting shall decide any
question brought before that meeting.  In addition, the Committee may take any
action otherwise proper under the Plan by the affirmative vote, taken without a
meeting, of a majority of its members.

     3.8     No member of the Committee shall be liable for any act or omission
of any other member of the Committee or for any act or omission on his own part,
including, but not limited to, the exercise of any power or discretion given to
him under the Plan, except those resulting from his own gross negligence or
willful misconduct.

     3.9     The Company, through its management, shall supply full and timely
information to the Committee on all matters relating to the eligibility of
Optionees, their duties and performance, and current information on any
Optionee's death, retirement, disability or other termination of association
with the Company, and such other pertinent information as the Committee may
require.  The Company shall furnish the Committee with such clerical and other
assistance as is necessary in the performance of its duties hereunder.

4.     SHARES SUBJECT TO THE PLAN

     4.1     The total number of shares of the Company available for grants of
Stock Options and Common Stock under the Plan shall be 350,000 Common Shares,
subject to adjustment in accordance with Article 7 of the Plan, which shares may
be either authorized but unissued or reacquired Common Shares of the Company.

     4.2     If a Stock Option or portion thereof shall expire or terminate for
any reason without having been exercised in full, the unpurchased shares covered
by such NQSO shall be available for future grants of Stock Options.

5.     AWARD  OF  COMMON  STOCK

     5.1     The Board or Committee from time to time, in its absolute
discretion, may (a) award Common Stock to employees of, consultants to, and
directors of the Company, and such other persons as the Board or Committee may
select, and (b) permit Holders of Options to exercise such Options prior to full
vesting therein and hold the Common Shares issued upon exercise of the Option as
Common Stock.  In either such event, the owner of such Common Stock shall hold
such stock subject to such vesting schedule as the Board or Committee may impose
or such vesting schedule to which the Option was subject, as determined in the
discretion of the Board or Committee.

     5.2     Common Stock shall be issued only pursuant to a Common Stock
Agreement, which shall be executed by the Common Stockholder and the Company and
which shall contain such terms and conditions as the Board or Committee shall
determine consistent with this Plan, including such restrictions on transfer as
are imposed by the Common Stock Agreement.

     5.3     Upon delivery of the shares of Common Stock to the Common
Stockholder, below, the Common Stockholder shall have, unless otherwise provided
by the Board or Committee, all the rights of a stockholder with respect to said
shares, subject to the restrictions in the Common Stock Agreement, including the
right to receive all dividends and other distributions paid or made with respect
to the Common Stock.

     5.4.     Notwithstanding anything in this Plan or any Common Stock
Agreement to the contrary, no Common Stockholders may sell or otherwise
transfer, whether or not for value, any of the Common Stock prior to the date on
which the Common Stockholder is vested therein.

     5.5     All shares of Common Stock issued under this Plan (including any
shares of Common Stock and other securities issued with respect to the shares of
Common Stock as a result of stock dividends, stock splits or similar changes in
the capital structure of the Company) shall be subject to such restrictions as
the Board or Committee shall provide, which restrictions may include, without
limitation, restrictions concerning voting rights, transferability of the Common
Stock and restrictions based on duration of employment with the Company, Company
performance and individual performance; provided that the Board or Committee
may, on such terms and conditions as it may determine to be appropriate, remove
any or all of such restric-tions.  Common Stock may not be sold or encumbered
until all applicable restrictions have terminated or expire.  The restrictions,
if any, imposed by the Board or Committee or the Board under this Section 5 need
not be identical for all Common Stock and the imposition of any restrictions
with respect to any Common Stock shall not require the imposition of the same or
any other restrictions with respect to any other Common Stock.

     5.6     Each Common Stock Agreement shall provide that the Company shall
have the right to repurchase from the Common Stockholder the unvested Common
Stock upon a termination of employment, termination of directorship or
termination of a consultancy arrangement, as applicable, at a cash price per
share equal to the purchase price paid by the Common Stockholder for such Common
Stock.

     5.7     In the discretion of the Board or Committee, the Common Stock
Agreement may provide that the Company shall have the a right of first refusal
with respect to the Common Stock and a right to repurchase the vested Common
Stock upon a termination of the Common Stockholder's employment with the
Company, the termination of the Common Stockholder's consulting arrangement with
the Company, the termination of the Common Stockholder's service on the
Company's Board, or such other events as the Board or Committee may deem
appropriate.

     5.8     The Board or Committee shall cause a legend or legends to be placed
on certificates representing shares of Common Stock that are subject to
restrictions under Common Stock Agreements, which legend or legends shall make
appropriate reference to the applicable restrictions.

6.     STOCK OPTION TERMS AND CONDITIONS

     6.1     Consistent with the Plan's purpose, Stock Options may be granted to
non-employee directors of the Company or other persons who are performing or who
have been engaged to perform services of special importance to the management,
operation or development of the Company.

     6.2     All Stock Options granted under the Plan shall be evidenced by
agreements which shall be subject to applicable provisions of the Plan, and such
other provisions as the Committee may adopt, including the provisions set forth
in paragraphs 2 through 11 of this Section 6.

     6.3     All Stock Options granted hereunder must be granted within ten
years from the earlier of the date of this Plan is adopted or approved by the
Company's shareholders.

     6.4     No Stock Option granted to any employee or 10% Shareholder shall be
exercisable after the expiration of ten years from the date such NQSO is
granted.  The Committee, in its discretion, may provide that an Option shall be
exercisable during such ten year period or during any lesser period of time.

          The Committee may establish installment exercise terms for a Stock
Option such that the NQSO becomes fully exercisable in a series of cumulating
portions.  If an Optionee shall not, in any given installment period, purchase
all the Common Shares which such Optionee is entitled to purchase within such
installment period, such Optionee's right to purchase any Common Shares not
purchased in such installment period shall continue until the expiration or
sooner termination of such NQSO.  The Committee may also accelerate the exercise
of any NQSO.  However, no NQSO, or any portion thereof, may be exercisable until
thirty (30) days following date of grant ("30-Day Holding Period.").

     6.5     A Stock Option, or portion thereof, shall be exercised by delivery
of (i)  a written notice of exercise of the Company specifying the number of
common shares to be purchased, and (ii)  payment of the full price of such
Common Shares, as fully set forth in paragraph 6 of this Section 6.

          No NQSO or installment thereof shall be exercisable except with
respect to whole shares, and fractional share interests shall be disregarded.
Not less than 100 Common Shares may be purchased at one time unless the number
purchased is the total number at the time available for purchase under the NQSO.
Until the Common Shares represented by an exercised NQSO are issued to an
Optionee, he shall have none of the rights of a shareholder.

     6.6     The exercise price of a Stock Option, or portion thereof, may be
paid:

          A.     In United States dollars, in cash or by cashier's check,
certified check, bank draft or money order, payable to the order of the Company
in an amount equal to the option price;  or

          B.     At the discretion of the Committee, through the delivery of
fully paid and nonassessable Common Shares, with an aggregate Fair Market Value
on the date the NQSO is exercised equal to the option price, provided such
tendered Shares have been owned by the Optionee for at least one year prior to
such exercise;  or

          C.     By a combination of both A and B above.

          The Committee shall determine acceptable methods for tendering Common
Shares as payment upon exercise of a Stock Option and may impose such
limitations and prohibitions on the use of Common Shares to exercise an NQSO as
it deems appropriate.

     6.7     With the Optionee's consent, the Committee may cancel any Stock
Option issued under this Plan and issue a new NQSO to such Optionee.

     6.8     Except by will or the laws of descent and distribution, no right or
interest in any Stock Option granted under the Plan shall be assignable or
transferable, and no right or interest of any Optionee shall be liable for, or
subject to, any lien, obligation or liability of the Optionee.  Stock Options
shall be exercisable during the Optionee's lifetime only by the Optionee or the
duly appointed legal representative of an incompetent Optionee.

     6.9     If the Optionee shall die while associated with the Company or
within three months after termination of such association, the personal
representative or administrator of the Optionee's estate or the person(s) to
whom an NQSO granted hereunder shall have been validly transferred by such
personal representative or administrator pursuant to the Optionee's will or the
laws of descent and distribution, shall have the right to exercise the NQSO for
one year after the date of the Optionee's death, to the extent (i)  such NQSO
was exercisable on the date of such termination of employment by death, and (ii)
such NQSO was not exercised, and (iii)  the exercise period may not be extended
beyond the expiration of the term of the Option.

          No transfer of a Stock Option by the will of an Optionee or by the
laws of descent and distribution shall be effective to bind the Company unless
the Company shall have been furnished with written notice thereof and an
authenticated copy of the will and/or such other evidence as the Committee may
deem necessary to establish the validity of the transfer and the acceptance by
the transferee or transferee of the terms and conditions by such Stock Option.

          In the event of death following termination of the Optionee's
association with the Company while any portion of an NQSO remains exercisable,
the Committee, in its discretion, may provide for an extension of the exercise
period of up to one year after the Optionee's death but not beyond the
expiration of the term of the Stock Option.

     6.10     Any Optionee who disposes of Common Shares acquired on the
exercise of a NQSO by sale or exchange either (i) within two years after the
date of the grant of the NQSO under which the stock was acquired, or (ii) within
one year after the acquisition of such Shares, shall notify the Company of such
disposition and of the amount realized upon such disposition.  The transfer of
Common Shares may also be Common by applicable provisions of the Securities Act
of 1933, as amended.

7.     ADJUSTMENTS OR CHANGES IN CAPITALIZATION

     7.1     In the event that the outstanding Common Shares of the Company are
hereafter changed into or exchanged for a different number or kind of shares or
other securities of the Company by reason of merger, consolidation, other
reorganization, recapitalization, reclassification, combination of shares, stock
split-up or stock dividend:

          A.     Prompt, proportionate, equitable, lawful and adequate
adjustment shall be made of the aggregate number and kind of shares subject to
Stock Options which may be granted under the Plan, such that the Optionee shall
have the right to purchase such Common Shares as may be issued in exchange for
the Common Shares purchasable on exercise of the NQSO had such merger,
consolidation, other reorganization, recapitalization, reclassification,
combination of shares, stock split-up or stock dividend not taken place;

          B.     Rights under unexercised Stock Options or portions thereof
granted prior to any such change, both as to the number or kind of shares and
the exercise price per share, shall be adjusted appropriately, provided that
such adjustments shall be made without change in the total exercise price
applicable to the unexercised portion of such NQSO's but by an adjustment in the
price for each share covered by such NQSO's; or

          C.     Upon any dissolution or liquidation of the Company or any
merger or combination in which the Company is not a surviving corporation, each
outstanding Stock Option granted hereunder shall terminate, but the Optionee
shall have the right, immediately prior to such dissolution, liquidation, merger
or combination, to exercise his NQSO in whole or in part, to the extent that it
shall not have been exercised, without regard to any installment exercise
provisions in such NQSO.

     7.2     The foregoing adjustments and the manner of application of the
foregoing provisions shall be determined solely by the Committee, whose
determination as to what adjustments shall be made and the extent thereof, shall
be final, binding and conclusive.  No fractional Shares shall be issued under
the Plan on account of any such adjustments.

8.     MERGER, CONSOLIDATION OR TENDER OFFER

     8.1     If the Company shall be a party to a binding agreement to any
merger, consolidation or reorganization or sale of substantially all the assets
of the Company, each outstanding Stock Option shall pertain and apply to the
securities and/or property which a shareholder of the number of Common Shares of
the Company subject to the NQSO would be entitled to receive pursuant to such
merger, consolidation or reorganization or sale of assets.

     8.2     In the event that:

          A.     Any person other than the Company shall acquire more than 20%
of the Common Shares of the Company through a tender offer, exchange offer or
otherwise;

          B.     A change in the "control" of the Company occurs, as such term
is defined in Rule 405 under the Securities Act of 1933;

          C.     There shall be a sale of all or substantially all of the assets
of the Company;

any then outstanding Stock Option held by an Optionee, who is deemed by the
Committee to be a statutory officer ("Insider") for purposes of Section 16 of
the Securities Exchange Act of 1934 shall be entitled to receive, subject to any
action by the Committee revoking such an entitlement as provided for below, in
lieu of exercise of such Stock Option, to the extent that it is then
exercisable, a cash payment in an amount equal to the difference between the
aggregate exercise price of such NQSO, or portion thereof, and, (i)  in the
event of an offer or similar event, the final offer price per share paid for
Common Shares, or such lower price as the Committee may determine to conform an
option to preserve its Stock Option status, times the number of Common Shares
covered by the NQSO or portion thereof, or (ii)  in the case of an event covered
by B or C above, the aggregate Fair Market Value of the Common Shares covered by
the Stock Option, as determined by the Committee at such time.

     8.3     Any payment which the Company is required to make pursuant to
paragraph 8.2 of this Section 8 shall be made within 15 business days, following
the event which results in the Optionee's right to such payment.  In the event
of a tender offer in which fewer than all the shares which are validly tendered
in compliance with such offer are purchased or exchanged, then only that portion
of the shares covered by an NQSO as results from multiplying such shares by a
fraction, the numerator of which is the number of Common Shares acquired
pursuant to the offer and the denominator of which is the number of Common
Shares tendered in compliance with such offer shall be used to determine the
payment thereupon.  To the extent that all or any portion of a Stock Option
shall be affected by this provision, all or such portion of the NQSO shall be
terminated.

     8.4     Notwithstanding paragraphs 8.1 and 8.3 of this Section 8, the
Committee may, by unanimous vote and resolution, unilaterally revoke the
benefits of the above provisions;  provided, however, that such vote is taken no
later than ten business days following public announcement of the intent of an
offer or the change of control, whichever occurs earlier.

9.     AMENDMENT AND TERMINATION OF PLAN

     9.1     The Board may at any time, and from time to time, suspend or
terminate the Plan in whole or in part or amend it from time to time in such
respects as the Board may deem appropriate and in the best interest of the
Company.

     9.2     No amendment, suspension or termination of this Plan shall, without
the Optionee's consent, alter or impair any of the rights or obligations under
any Stock Option theretofore granted to him under the Plan.

     9.3     The Board may amend the Plan, subject to the limitations cited
above, in such manner as it deems necessary to permit the granting of Stock
Options  meeting the requirements of future amendments or issued regulations, if
any, to the  Code.

     9.4     No NQSO may be granted during any suspension of the Plan or after
termination of the Plan.

10.     GOVERNMENT AND OTHER REGULATIONS

     10.1     The obligation of the Company to issue, transfer and deliver
Common Shares for Stock Options exercised under the Plan shall be subject to all
applicable laws, regulations, rules, orders and approval which shall then be in
effect and required by the relevant stock exchanges on which the Common Shares
are traded and by government entities as set forth below or as the Committee in
its sole discretion shall deem necessary or advisable.  Specifically, in
connection with the Securities Act of 1933, as amended, upon exercise of any
Stock Option, the Company shall not be required to issue Common Shares unless
the Committee has received evidence satisfactory to it to the effect that the
Optionee will not transfer such shares except pursuant to a registration
statement in effect under such Act or unless an opinion of counsel satisfactory
to the Company has been received by the Company to the effect that such
registration is not required.  Any determination in this connection by the
Committee shall be final, binding and conclusive.  The Company may, but shall in
no event be obligated to, take any other affirmative action in order to cause
the exercise of a Stock Option or the issuance of Common Shares pursuant thereto
to comply with any law or regulation of any government authority.

11.     MISCELLANEOUS PROVISIONS

     11.1     No person shall have any claim or right to be granted a Stock
Option or Common Stock under the Plan, and the grant of an NQSO or Common Stock
under the Plan shall not be construed as giving an Optionee or Common
Stockholder the right to be retained by the Company.  Furthermore, the Company
expressly reserves the right at any time to terminate its relationship with an
Optionee with or without cause, free from any liability, or any claim under the
Plan, except as provided herein, in an option agreement, or in any agreement
between the Company and the Optionee.

     11.2     Any expenses of administering this Plan shall be borne by the
Company.

     11.3     The payment received from Optionee from the exercise of Stock
Options under the Plan shall be used for the general corporate purposes of the
Company.

     11.4     The place of administration of the Plan shall be in the State of
North Carolina, and the validity, construction, interpretation, administration
and effect of the Plan and of its rules and regulations, and rights relating to
the Plan, shall be determined solely in accordance with the laws of the State of
North Carolina.

     11.5     Without amending the Plan, grants may be made to persons who are
foreign nationals or employed outside the United States, or both, on such terms
and conditions, consistent with the Plan's purpose, different from those
specified in the Plan as may, in the judgment of the Committee, be necessary or
desirable to create equitable opportunities given differences in tax laws in
other countries.

     11.6     In addition to such other rights of indemnification as they may
have as members of the Board or the Committee, the members of the Committee
shall be indemnified by the Company against all costs and expenses reasonably
incurred by them in connection with any action, suit or proceeding to which they
or any of them may be party by reason of any action taken or failure to act
under or in connection with the Plan or any Stock Option granted thereunder, and
against all amounts paid by them in settlement thereof (provided such settlement
is approved by independent legal counsel selected by the Company) or paid by
them in satisfaction of a judgment in any such action, suit or proceeding,
except a judgment based upon a finding of bad faith;  provided that upon the
institution of any such action, suit or proceeding a Committee member shall, in
writing, give the Company notice thereof and an opportunity, at its own expense,
to handle and defend the same, with counsel acceptable to the Optionee,  before
such Committee member undertakes to handle and defend it on his own behalf.

     11.7     Stock Options may be granted under this Plan from time to time, in
substitution for stock options held by employees of other corporations who are
about to become employees of the Company as the result of a merger or
consolidation of the employing corporation with the Company or the acquisition
by the Company of the assets of the employing corporation or the acquisition by
the Company of stock of the employing corporation as a result of which it
becomes a subsidiary of the Company.  The terms and conditions of such
substitute stock options so granted may vary from the terms and conditions set
forth in this Plan to such extent as the Board of Directors of the Company at
the time of grant may deem appropriate to conform, in whole or in part, to the
provisions of the stock options in substitution for which they are granted, but
no such variations shall be such as to affect the status of any such substitute
stock options as a stock option under Section 422A of the Code.

     11.8     Notwithstanding anything to the contrary in the Plan, if the
Committee finds by a majority vote, after full consideration of the facts
presented on behalf of both the Company and the Optionee, that the Optionee has
been engaged in fraud, embezzlement, theft, insider trading in the Company's
stock, commission of a felony or proven dishonesty in the course of his
association with the Company or any subsidiary corporation which damaged the
Company or any subsidiary corporation, or for disclosing trade secrets of the
Company or any subsidiary corporation, the Optionee shall forfeit all
unexercised Stock Options and all exercised NQSO's under which the Company has
not yet delivered the certificates and which have been earlier granted to the
Optionee by the Committee.  The decision of the Committee as to the cause of an
Optionee's discharge and the damage done to the Company shall be final.  No
decision of the Committee, however, shall affect the finality of the discharge
of such Optionee by the Company or any subsidiary corporation in any manner.

12.     WRITTEN AGREEMENT

     12.1     Each Stock Option granted hereunder shall be embodied in a written
Stock Option Agreement which shall be subject to the terms and conditions
prescribed above and shall be signed by the Optionee and by the President or any
Vice President of the Company, for and in the name and on behalf of the Company.
Such Stock Option Agreement shall contain such other provisions as the
Committee, in its discretion shall deem advisable.

<PAGE>
Number of Shares:               Date of Grant:

     FORM OF NON-QUALIFIED STOCK OPTION AGREEMENT

     AGREEMENT made this day of                2002, between
 (the "Optionee"), and Xenicent, Inc. (the "Company").

     1.     GRANT OF OPTION

          The Company, pursuant to the provisions of the Non-Qualified Stock
Compensation Plan (the "Plan"), adopted by the Board of Directors on          ,
2002, the Company hereby grants to the Optionee, subject to the terms and
conditions set forth or incorporated herein, an option to purchase from the
Company all or any part of an aggregate of           shares of its $.001 par
value common stock, as such common stock is now constituted, at the purchase
price of $      per share.  The provisions of the Plan governing the terms and
conditions of the Option granted hereby are incorporated in full herein by
reference.

     2.     EXERCISE

          The Option evidenced hereby shall be exercisable in whole or in part
on or after           and on or before                    , provided that the
cumulative number of shares of common stock as to which this Option may be
exercised (except in the event of death, retirement, or permanent and total
disability, as provided in paragraph 6.9 of the Plan) shall not exceed the
following amounts:

     Cumulative Number          Prior to Date
         of Shares                         (Note Inclusive of)
     -------------                         -------------------

The Option evidenced hereby shall be exercisable by the delivery to and receipt
by the Company of (i)  written notice of election to exercise, in the form set
forth in Attachment B hereto, specifying the number of shares to be purchased;
(ii)  accompanied by payment of the full purchase price thereof in cash or
certified check payable to the order of the Company, or by fully paid and
nonassessable common stock of the Company properly endorsed over to the Company,
or by a combination thereof, and  (iii)  by return of this Stock Option
Agreement for endorsement of exercise by the Company on Schedule I hereof.  In
the event fully paid and nonassessable common stock is submitted as whole or
partial payment for shares to be purchased hereunder, such common stock will be
valued at their Fair Market Value (as defined in the Plan) on the date such
shares received by the Company are applied to payment of the exercise price.

<PAGE>
     3.     TRANSFERABILITY

          The Option evidenced hereby is not assignable or transferable by the
Optionee other than by the Optionee's will or by the laws of descent and
distribution, as provided in paragraph 6.9 of the Plan.  The Option shall be
exercisable only by the Optionee during his lifetime.

                              Xenicent, Inc.

                                 By:
                                 Name:
ATTEST:                          Title:

Secretary

     Optionee hereby acknowledges receipt of a copy of the Plan, attached hereto
and accepts this Option subject to each and every term and provision of such
Plan.  Optionee hereby agrees to accept as binding, conclusive and final, all
decisions or interpretations of the of the Board of Directors administering the
Plan on any questions arising under such Plan.  Optionee recognizes that if
Optionee's employment with the Company or any subsidiary thereof shall be
terminated without cause, or by the Optionee, prior to completion or
satisfactory performance by Optionee (except as otherwise provided in paragraph
6 of the Plan) all of the Optionee's rights hereunder shall thereupon terminate;
and that, pursuant to paragraph 6 of the Plan, this Option may not be exercised
while there is outstanding to Optionee any unexercised Stock Option granted to
Optionee before the date of grant of this Option.

Dated:
                              Optionee

                              Print Name

                              Address

                              Social Security No.

<PAGE>
ATTACHMENT B

                               NOTICE OF EXERCISE

To:     Xenicent, Inc.

(1)     The  undersigned  hereby  elects  to  purchase ________ shares of Common
Shares  (the  "Common  Shares"),  of Xenicent, Inc. pursuant to the terms of the
attached  Non-Qualified  Stock Option Agreement, and tenders herewith payment of
the exercise price in full, together with all applicable transfer taxes, if any.
(2)     Please  issue  a certificate or certificates representing said shares of
Common  Shares  in  the  name  of  the  undersigned  or in such other name as is
specified  below:

               _______________________________
               (Name)

               _______________________________
               (Address)
               _______________________________

Dated:

                                   ______________________________
                                   Signature

<PAGE>

Optionee:          Date of Grant:

     SCHEDULE I

               UNEXERCISED     ISSUING
               SHARES     OFFICER
DATE     SHARES PURCHASED     PAYMENT RECEIVED     REMAINING     INITIALS

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