Document:

<PAGE>

                                                            Executed in 6 Parts
                                                           Counterpart No. (   )

                              NATIONAL EQUITY TRUST

                        FORBES FORTY INDEX TRUST SERIES 8

                            REFERENCE TRUST AGREEMENT

         This Reference Trust Agreement dated February 21, 2002 among Prudential
Investment Management Services LLC, as Depositor, Prudential Securities
Incorporated, as Portfolio Supervisor, and The Bank of New York, as Trustee,
sets forth certain provisions in full and incorporates other provisions by
reference to the document entitled "National Equity Trust, Trust Indenture and
Agreement" (the "Basic Agreement") dated February 2, 2000. Such provisions as
are set forth in full herein and such provisions as are incorporated by
reference constitute a single instrument (the "Indenture").

                                WITNESSETH THAT:

         In consideration of the premises and of the mutual agreements herein
contained, the Depositor and the Trustee agree as follows:

                                     Part I.

                     STANDARD TERMS AND CONDITIONS OF TRUST

         Subject to the provisions of Part II hereof, all the provisions
contained in the Basic Agreement are herein incorporated by reference in their
entirety and shall be deemed to be a part of this instrument as fully and to the
same extent as though said provisions had been set forth in full in this
instrument.

         A. Article I, entitled "Definitions," shall be amended as follows:

         (i) Section 1.01-Definitions shall be amended to add the following
definition at the end thereof:

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                                      -2-

         "Portfolio Supervisor" of the Trust shall have the meaning assigned to
it in Part II of the Reference Trust Agreement.

         B. Article III, entitled "Administration of Trust," shall be amended as
follows:

         (i) The third paragraph of Section 3.05-Distribution shall be amended
by deleting any reference to Depositor and replacing it with Portfolio
Supervisor.

         (ii) Section 3.14-Deferred Sales Charge shall be amended to add the
following sentences at the end thereof:

         "References to Deferred Sales Charge in this Trust Indenture and
         Agreement shall include any Creation and Development Fee indicated in
         the prospectus for a Trust. The Creation and Development Fee shall be
         payable on each date so designated and in an amount determined as
         specified in the prospectus for a Trust."

         C. Article VIII, entitled "Depositor," shall be amended as follows:

         (i) Section 8.07-Compensation shall be amended by deleting any
reference to Depositor and replacing it with Portfolio Supervisor.

         D. Article IX, entitled "Additional Covenants; Miscellaneous
Provisions," shall be amended as follows:

         (i) The first sentence of Section 9.05 - Written Notice shall be
amended by deleting the language "Prudential Securities Incorporated at One
Seaport Plaza, New York, New York 10292" and replacing it with "Prudential
Investment Management LLC at 100 Mulberry Street, Gateway Center Three, Newark,
New Jersey 07102".

                                    Part II.

                      SPECIAL TERMS AND CONDITIONS OF TRUST

         The following special terms and conditions are hereby agreed to:

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                                      -3-

         A. The Trust is denominated National Equity Trust, Forbes Forty Index
    Trust Series 8.

         B. The Units of the Trust shall be subject to a deferred sales charge.

         C. The publicly traded stocks listed in Schedule A hereto are those
    which, subject to the terms of this Indenture, have been or are to be
    deposited in Trust under this Indenture as of the date hereof.

         D. The term "Depositor" shall mean Prudential Investment Management
    Services LLC.

         E. The term "Portfolio Supervisor" shall mean Prudential Securities
    Incorporated.

         F. The aggregate number of Units referred to in Sections 2.03 and 9.01
    of the Basic Agreement is 125,000 as of the date hereof.

         G. A Unit of the Trust is hereby declared initially equal to
    1/125,000th of the Trust.

         H. The term "First Settlement Date" shall mean February 27, 2002.

         I. The terms "Computation Day" and "Record Date" shall be on such dates
    as the Sponsor shall direct.

         J. The term "Distribution Date" shall be on such dates as the Sponsor
    shall direct.

         K. The term "Termination Date" shall mean June 20, 2003.

         L. The Trustee's Annual Fee shall be $.90 (per 1,000 Units) for
    49,999,999 and below units outstanding $.84 (per 1,000 Units) on the next
    50,000,000 Units, $.78 (per 1,000 Units) on the next 100,000,000 Units, and
    $.66 (per 1,000 Units) on Units in excess of 200,000,000 Units. In
    calculating the Trustee's annual fee, the fee applicable to the number of
    units outstanding shall apply to all units outstanding.

         M. The Portfolio Supervisor's portfolio supervisory service fee shall
    be $.25 per 1,000 Units.

               [Signatures and acknowledgments on separate pages]

<PAGE>

                                      -4-

         The Schedule of Portfolio Securities in Part A of the prospectus
         included in this Registration Statement for National Equity Trust,
         Forbes Forty Index Trust Series 8 is hereby incorporated by reference
         herein as Schedule A hereto.<PAGE>
                                                                 Exhibit 4(b)

                                                      Executed in 6 Parts
                                                      Counterpart No. (   )

                              NATIONAL EQUITY TRUST

             SHORT-TERM LOW FIVE COVERED WRITE OPTION TRUST SERIES 3

                            REFERENCE TRUST AGREEMENT

         This Reference Trust Agreement dated February 21, 2002 among Prudential
Investment Management Services LLC, as Depositor, Prudential Securities
Incorporated, as Portfolio Supervisor, and The Bank of New York, as Trustee,
sets forth certain provisions in full and incorporates other provisions by
reference to the document entitled "National Equity Trust, Trust Indenture and
Agreement" (the "Basic Agreement") dated August 8, 2001. Such provisions as are
set forth in full herein and such provisions as are incorporated by reference
constitute a single instrument (the "Indenture").

                                WITNESSETH THAT:

         In consideration of the premises and of the mutual agreements herein
contained, the Depositor and the Trustee agree as follows:

                                     Part I.

                     STANDARD TERMS AND CONDITIONS OF TRUST

         Subject to the provisions of Part II hereof, all the provisions
contained in the Basic Agreement are herein incorporated by reference in their
entirety and shall be deemed to be a part of this instrument as fully and to the
same extent as though said provisions had been set forth in full in this
instrument.

(i)      The first sentence of Section 9.05 - Written Notice shall be amended by
         deleting the language "Prudential Securities Incorporated at One
         Seaport Plaza, New York, New York 10292" and replacing it with
         "Prudential Investment Management LLC at 100 Mulberry Street, Gateway
         Center Three, Newark, New Jersey 07102".

<PAGE>

                                      -2-

                                    Part II

                      SPECIAL TERMS AND CONDITIONS OF TRUST

     The following special terms and conditions are hereby agreed to:

A.       The Trust is denominated National Equity Trust, Short-Term Low Five
         Covered Write Option Trust Series 3.

B.       The publicly traded stocks listed in Schedule A hereto are those which,
         subject to the terms of this Indenture, have been or are to be
         deposited in Trust under this Indenture as of the date hereof subject
         to the Purchase Rights listed in Schedule A hereto.

C.       The term "Depositor" shall mean Prudential Investment Management
         Services LLC.

D.       The term "Portfolio Supervisor" shall mean Prudential Securities
         Incorporated.

E.       The aggregate number of Units referred to in Sections 2.03 and 9.01 of
         the Basic Agreement is 5,378,905 as of the date hereof.

F.       A Unit of the Trust is hereby declared initially equal to 1/5,378,905th
         of the Trust.

G.       The term "First Settlement Date" shall mean February 27, 2002.

H.       The term "Distribution Date" shall be as soon as possible after the
         Termination Date to Unit Holders of record on the Termination Date.

I.       The term "Termination Date" shall mean September 4, 2002.

J.       The Trustee's Annual Fee shall be $.90 (per 1,000 Units).

K.       The Portfolio Supervisor's portfolio supervisory service fee shall
         be $.25 per 1,000 Units.

               [Signatures and acknowledgments on separate pages]

<PAGE>

                                      -3-

The Schedule of Portfolio Securities in Part A of the prospectus included in
this Registration Statement for National Equity Trust, Short-Term Low Five
Covered Write Option Trust Series 3 is hereby incorporated by reference herein
as Schedule A hereto.<PAGE>

Exhibit 10.1

                           DECTRON INTERNATIONAL LTD.

                             1998 STOCK OPTION PLAN

                                   ARTICLE ONE
                           PURPOSE AND INTERPRETATION

     SECTION 1.01 PURPOSE. The purpose of the Plan is to advance the interests
of the Corporation by encouraging equity participation in the Corporation
through the acquisition of Common Shares of the Corporation by directors,
officers and employees of, and certain other persons who provide services to,
the Corporation.

     SECTION 1.02 DEFINITIONS. In the Plan, the following capitalized words and
terms shall have the following meanings:

       (a)    "ACT" means the CANADA BUSINESS CORPORATIONS ACT or its successor,
              as amended from time to time.

       (b)    "AFFILIATE" shall have the meaning ascribed thereto in the
              Securities Act.

       (c)    "ASSOCIATE" shall have the meaning ascribed thereto in the
              Securities Act.

       (d)    "BOARD OF DIRECTORS" means the board of directors of the
              Corporation as constituted from time to time and any committee of
              the board of directors which shall be comprised of at least two
              non-employee directors.

       (e)    "COMMON SHARES" means the common shares of the Corporation as
              constituted on the date hereof.

       (f)    "COMPETITOR" means any person engaged in a business that the Board
              of Directors determines competes or intends to compete with the
              business carried on by the Corporation and its Affiliates from
              time to time.

       (g)    "CORPORATION" means Dectron International Inc., a corporation
              incorporated under the Act, and its successors from time to time.

       (h)    "DESIGNATED AFFILIATE" means the Affiliates of the Corporation
              designated by the Board of Directors for purposes of the Plan from
              time to time.

       (i)    "EXCHANGE" means, at any time, any stock exchange on which the
              Common Shares are listed, posted and called for trading.

       (j)    "HOLDING COMPANY" shall have the meaning specified in Section 2.02
              hereof.

<PAGE>

       (k)    "INSIDER" shall have the meaning ascribed thereto in the
              Securities Act, other than a person who is an Insider solely by
              virtue of being a director of senior officer of a subsidiary of
              the Corporation and any Associate of an Insider.

       (l)    "KEY CONTRIBUTORS" means a person who is a director, officer,
              employee or consultant engaged by the Corporation to assist the
              Corporation in the conduct and growth of its business.

       (m)    "ISSUER BID" shall have the meaning ascribed thereto in the
              Securities Act.

       (n)    "OPTION PERIOD" means the period of time an option may be
              exercised as specified in Subsection 2.07(a) hereof.

       (m)    "PARTICIPANT" means a participant under the Plan.

       (p)    "PLAN" means the share option plan provided for herein.

       (q)    "RRSP" shall have the meaning specified in Section 2.02 hereof.

       (r)    "SECURITIES LAWS" means, collectively, the applicable securities
              laws, regulations, schedules, prescribed forms, policy statements,
              notices, blanket rulings and other similar instruments of each of
              the jurisdictions in which the Corporation is or becomes a
              reporting issuer or equivalent and also includes, as the context
              so requires, the by-laws, rules, regulations and policies of any
              Exchange.

       (s)    "SHARE COMPENSATION ARRANGEMENT" means a stock option, stock
              option plan, employee stock purchase plan or any other
              compensation or incentive mechanism involving the issuance or
              potential issuance of securities of the Corporation to one or more
              of the following persons: (i) an employee or insider of the
              Corporation or of any of its subsidiaries; and (ii) any other
              person or company engaged to provide ongoing management or
              consulting services for the listed company or for any entity
              controlled by the listed company, including a share purchase from
              treasury which is financially assisted by the Corporation by way
              of a loan, guarantee or otherwise.

       (t)    "TAKE-OVER BID" shall have the meaning ascribed thereto in the
              Securities Act.

                                   ARTICLE TWO
                                SHARE OPTION PLAN

     SECTION 2.01 THE PLAN. The Plan is hereby established for Key Contributors
of the Corporation and Designated Affiliates.

     SECTION 2.02 PARTICIPANTS. Participants in the Plan shall be Key
Contributors of the Corporation or any of its Designated Affiliates (including
officers thereof, whether or not directors) who, by the nature of their
positions are, in the opinion of the Board of Directors, upon the recommendation
of the President of the Corporation, in a position to contribute to the success
of the Corporation. At the request of any Participant, options granted to such
Participant may be issued to and registered in the name of a personal holding
company wholly-owned by such Participant ("Holding Company") or to a registered
retirement savings plan established by such Participant ("RRSP") and, in such
event, the provisions of this Plan shall apply to such options mutatis mutadis
as though they were issued to and registered in the name of the Participant.

<PAGE>

     SECTION 2.03 AMOUNT OF OPTIONS. The determination regarding the aggregate
number of Common Shares subject to options in favour of any Participant will
take into consideration the Participant's present and potential contribution to
the success of the Corporation and shall be determined from time to time by the
Board of Directors. The aggregate number of Common Shares issuable upon the
exercise of options pursuant to this Plan and any other Share Compensation
Arrangements, subject to adjustment or increase of such number pursuant to
Section 2.10 hereof, shall be 650,000 Common Shares. The maximum number of
Common Shares reserved for issuance to any one Participant upon the exercise of
options shall not exceed 5% of the total number of Common Shares outstanding
immediately prior to such issuance.

     SECTION 2.04 LIMITS WITH RESPECT TO INSIDERS.

       (a)    The number of Common Shares issuable to Insiders pursuant to
              options granted under the Plan, together with Common Shares
              issuable to Insiders under any other Share Compensation
              Arrangement of the Corporation, shall not:

              (i)    exceed 10% of the number of Common Shares outstanding
                     immediately prior to the grant of any such option; or

              (ii)   result in the issuance to Insiders, within a one year
                     period, of in excess of 10% of the number of Common Shares
                     outstanding immediately prior to the grant of any such
                     option.

       (b)    The number of Common Shares issuable to any Insider and such
              Insider's Associates pursuant to options granted under the Plan,
              together with Common Shares issuable to such Insider or such
              Insider's Associates under any other Share Compensation
              Arrangement of the Corporation shall not, within a one year
              period, exceed 5% of the number of Common Shares outstanding
              immediately prior to the grant of any such option.

       (c)    Any Common Shares issuable pursuant to an option granted to a
              Participant prior to the Participant becoming an Insider shall be
              excluded for the purposes of the limits set out in Subsections
              2.04(a) and 2.04(b) hereof.

     SECTION 2.05 PRICE. The exercise price per Common Share shall be determined
by the Board of Directors at the time the option is granted, but such price
shall not be less than such price as is required or permitted as the minimum
exercise price under the Securities Laws, including the requirements of any
Exchange on which the Common Shares are listed. The exercise price of all
options granted hereunder shall be at least 100% of the fair market value of the
Common Shares on the date of grant of the options as determined by the Board of
Directors.

     SECTION 2.06 LAPSE OPTIONS. In the event that options granted under the
Plan are surrendered, terminate or expire without being exercised in whole or in
part, the Common Shares reserved for issuance but not purchased under such
lapsed options shall be available for subsequent options to be granted under the
Plan.

<PAGE>

     SECTION 2.07 CONSIDERATION, OPTION PERIOD AND PAYMENT.

       (a)    The period during which options may be exercised shall be
              determined by the Board of Directors, in its discretion, to a
              maximum of ten years from the date the option is granted (the
              "Option Period"), except as the same may be reduced with respect
              to any option as provided in Sections 2.08 and 2.09 hereof
              respecting termination of employment or death of the Participant.

       (b)    Subject to any other provision of this Plan, an option may be
              exercised from time to time during the Option Period by delivery
              to the Corporation at its registered office of a written notice of
              exercise addressed to the Secretary of the Corporation specifying
              the number of Common Shares with respect to which the option is
              being exercised and accompanied by payment in full of the exercise
              price therefor. Certificates for such Common Shares shall be
              issued and delivered to the Participant as soon as practicable
              following receipt of such notice and payment. The Corporation may,
              at its discretion, as determined by the Board of Directors or its
              nominee administering the Plan, accept in lieu of cash payment of
              the exercise price, the tender of Common Shares having a fair
              market value equal to the exercise price, a personal recourse note
              secured by a pledge against the Common Shares so issuable, an
              assignment to the Corporation of sufficient proceeds from the sale
              of Common Shares acquired on the exercise of the option consented
              to and acknowledged by a duly qualified investment dealer and
              accompanied by an irrevocable direction of the Participant
              exercising such option to such investment dealer to cause such
              payment to be made to the direction of the Corporation, or any
              combination of the foregoing.

       (c)    Except as set forth in Sections 2.08 and 2.09 hereof, no option
              may be exercised unless the Participant is, at the time of such
              exercise, a Key Contributor of or in the employ of the Corporation
              or any of its Designated Affiliates and shall have been
              continuously a Key Contributor since the grant of his or her
              option. Absence on leave with the approval of the Corporation or a
              Designated Affiliate shall not be considered an interruption of
              employment for purposes of the Plan.

       (d)    The exercise of any option will be contingent upon receipt by the
              Corporation of cash payment of the full exercise price of the
              Common Shares which are the subject of the exercised option or
              such other arrangements for payment as are approved by the Board
              of Directors or its nominee under (b) above. No Participant or his
              or her legal representatives, legatees or distributees will be, or
              will be deemed to be, a holder of any Common Shares with respect
              to which he or she was granted an option under the Plan, unless
              and until certificates for such Common Shares are issued to him or
              her under the terms of the Plan.

       (e)    Notwithstanding any other provision of this Plan or in any option
              granted to a Participant, the Corporation's obligation to issue
              Common Shares to a Participant pursuant to the exercise of an
              option shall be subject to:

              (i)    completion of such registration or other qualification of
                     such Common Shares or obtaining approval of such regulatory
                     authorities as the Corporation shall determine to be
                     necessary or advisable in connection with the
                     authorization, issuance or sale thereof;

<PAGE>

              (ii)   the listing of such Common Shares on any Exchange, on which
                     the Common Shares are listed and posted for trading; and

              (iii)  the receipt from the Participant of such representations,
                     warranties, agreements and undertakings, including as to
                     future dealings in such Common Shares, as the Corporation
                     or its counsel determines to be necessary or advisable in
                     order to ensure compliance with all applicable securities
                     laws.

       (f)    If there is a Take-over Bid or Issuer Bid made for all or any of
              the issued and outstanding Common Shares, then the Board of
              Directors may, by resolution, permit all options outstanding under
              the Plan to become immediately exercisable in order to permit
              Common Shares issuable under such options to be tendered to such
              bid.

     SECTION 2.08 TERMINATION OF EMPLOYMENT. If a Participant shall:

       (a)    cease to be a Key Contributor of the Corporation or any of its
              Designated Affiliates as determined by the Board of Directors; or

       (b)    cease to be employed or engaged by the Corporation or any of its
              Designated Affiliates (and is not or does not continue to be a
              director or senior office thereof) for any reason (other than
              death, disability or retirement at or after age 70) or shall
              receive notice from the Corporation or any of its Designated
              Affiliates of the termination of his or her employment or
              engagement; (collectively, "Termination") he or she or it may, but
              only within three months next succeeding such Termination,
              exercise his or her or its options to the extent that he or she or
              it was entitled to exercise such options at the date of such
              Termination; provided that in no event shall such right extend
              beyond the Option Period. This section is subject to any agreement
              with any director or senior officer of the Corporation or any of
              its Designated Affiliates with respect to the rights of such
              director or senior office upon Termination or change in control of
              the Corporation. Notwithstanding the foregoing, if the Termination
              is for cause from the acceptance by the Participant of an officer
              of employment with a Competitor, or if such Participant accepts
              employment with a Competitor following such Termination and prior
              to the date that the options held by such Participant expire under
              this Section 2.08, then unless otherwise determined by the Board
              of Directors, the entitlement of the Participant to options
              previously granted under this Plan that remain unexercised,
              whether or not previously granted under this Plan that remain
              unexercised, whether or not previously vested, shall immediately
              terminate. For purposes of this Plan, employment with a competitor
              shall include acting on behalf of a Competitor in any capacity,
              whether as a shareholder, director, officer, employee, advisor,
              consultant, partner, lender or in any other capacity. In addition
              to the foregoing, notwithstanding any other provision of this
              Plan, all Common Shares issued to Participants on their exercise
              of options granted under the Plan shall remain subject to the
              right of the Corporation to repurchase such Common Shares for
              cancellation following any Termination of the employment of such
              Participant if such Participant accepts employment with a
              Competitor during the period of 12 months following the effective
              date of such Termination. Such right of repurchase may be
              exercised by the Corporation upon refunding the option exercise
              price therefore paid by the Participant, such payment to be made
              by the Corporation to the Participant or any subsequent holder of
              such Common Shares as of the date such right is exercised by the
              Corporation. The Corporation shall cause notice of such right of
              repurchase to be set forth on the certificates evidencing any
              Common Shares issued to a Participant upon any exercise of options
              granted from time to time under the Plan.

<PAGE>

     SECTION 2.09 DEATH, DISABILITY OR RETIREMENT OF PARTICIPANT. In the event
of the death, permanent disability or retirement at or after age 70 of a
Participant who is a Key Contributor of the Corporation or any of its Designated
Affiliates or who is an employee having been continuously in the employ of the
Corporation or any of its Designated Affiliates for one year from and after the
date of the granting of his or her option, the option therefore granted to him
or her shall be exercisable within the twelve months next succeeding such death,
disability or retirement (including the rights under Subsection 2.07(f) and
then, in the event of death, only:

       (a)    by the person or persons to whom the Participant's rights under
              the option shall pass by the Participant's will or the laws of
              descent and distribution; and

       (b)    to the extent that he or she was entitled to exercise the option
              at the date of his or her death, provided that in no event shall
              such right extend beyond the Option Period.

     SECTION 2.10 ADJUSTMENT IN SHARES SUBJECT TO THE PLAN. In the event that:

       (a)    there is any change in the Common Shares of the Corporation
              through subdivisions or consolidation of the share capital of the
              Corporation, or otherwise;

       (b)    the Corporation declares a dividend on Common Shares payable in
              Common Shares or securities convertible into or exchangeable for
              Common Shares; or

       (c)    the Corporation issues Common Shares, or securities convertible
              into or exchangeable for Common Shares, in respect of, in lieu of,
              or in exchange for, existing Common Shares, the number of Common
              Shares available for option, the Common Shares subject to any
              option, and the option price thereof, shall be adjusted
              appropriately by the Board of Directors in its sole discretion and
              such adjustment shall be effective and binding for all purposes of
              the Plan.

     SECTION 2.11 EFFECTING GRANTS. Subject to Section 3.04, the grant of
options under the Plan shall be affected by the execution and delivery of a
stock option agreement in such form which is consistent with the provisions of
the Plan as may be approved by the Board of Directors from time to time.

     SECTION 2.12 RECORD KEEPING. The Corporation shall maintain a register in
which shall be recorded:

       (a)    the name and address of each Participant in the Plan; and

       (b)    the number of options granted to a Participant and the number of
              options outstanding.

                                  ARTICLE THREE
                                     GENERAL

     SECTION 3.01 TRANSFERABILITY. The benefits, rights and options accruing to
any Participant in accordance with the terms and conditions of the Plan shall
not be transferable by the Participant except (i) from the Participant to his or
her Holding Company or RRSP or from a Holding Company or RRSP to the Participant
and, in either such event, the provisions of this Plan shall apply mutatis
mutandis as though they were originally issued to and registered in the name of
the Participant, or (ii) as otherwise specifically provided herein. During the
lifetime of a Participant, all benefits, rights and options shall only be
exercised by the Participant or by his or her guardian or legal representative.

<PAGE>

     SECTION 3.02 EMPLOYMENT. Nothing contained in the Plan shall confer upon
any Participant any right with respect to employment or continuance of
employment with the Corporation or any Affiliate, or interfere in any way with
the right of the Corporation or any Affiliate to terminate the Participant's
employment at any time. Participation in the Plan by a Participant shall be
voluntary.

     SECTION 3.03 DELEGATION TO COMPENSATION COMMITTEE. All of the powers
exercisable by the Board of Directors under the Plan may, to the extent
permitted by applicable law and authorized by resolution of the Board of
Directors of the Corporation, be exercised by a Compensation Committee of not
less than three (3) directors. A majority of the members of any such
Compensation Committee shall not be employees of the Corporation. In addition,
if determined appropriate by the Board of Directors of the Corporation, the
Board of Directors may delegate any or all of the powers of the Board of
Directors of the Corporation under the Plan to an independent consultant.

     SECTION 3.04 ADMINISTRATION OF THE PLAN. The Plan shall be administered by
the Board of Directors of the Corporation. The Board of Directors shall be
authorized to interpret and construe the Plan and may, from time to time,
establish, amend or rescind rules and regulations required for carrying out the
purposes, provisions and administration of the Plan and determine the
Participants to be granted options, the number of Common Shares covered thereby,
the exercise price therefor and the time or times when they may be exercised.
Any such interpretation or construction of the Plan shall be final and
conclusive. All administrative costs of te Plan shall be paid by the
Corporation. The senior officers of the Corporation are hereby authorized and
directed to do all things and execute and deliver all instruments, undertakings
and applications and writings as they, in their absolute discretion, consider
necessary for the implementation of the Plan and of the rules and regulations
established for administering the Plan.

     SECTION 3.05 AMENDMENT, MODIFICATION OR TERMINATION OF THE PLAN. Subject to
Section 3.03, the Board of Directors reserves the right to amend, modify or
terminate the Plan at any time if and when it is advisable in the absolute
discretion of the Board of Directors. However, any amendment of the Plan which
would:

       (a)    materially increase the benefits under the Plan;

       (b)    increase the number of Common Shares which may be issued under the
              Plan; or

       (c)    materially modify the requirements as to the eligibility for
              participation in the Plan; shall be effective only upon the
              approval of the shareholders of the Corporation. Any material
              amendment to any provision of the Plan shall be subject to any
              necessary approvals by the Exchange, other quotation system or any
              stock exchange or regulatory body having jurisdiction over the
              securities of the Corporation. Notwithstanding the foregoing, the
              Plan will terminate 10 years from the date hereof.

     SECTION 3.06 APPLICATION FOR RULING UNDER THE SECURITIES ACT. The
Corporation is not a "private company" (as defined in the Securities Act and,
accordingly, is not entitled to the exemptions for such companies from the
registration and prospectus requirements of the Securities Act where they are
not offered for sale to the public. In order to ensure compliance with the
Securities Act, the grant of options under the Plan to Key Contributors other
than officers and employees of the Corporation and its Affiliates shall be
subject to receipt of such rulings or other relief as may be required under the
Securities Act that the granting and exercise of such options shall not be
subject to the prospectus and registration requirements of the Securities Act,
subject to such terms and conditions as the Board of Directors may in its
absolute discretion approval.

<PAGE>

     SECTION 3.07 CONSOLIDATION, MERGER, ETC. If there is a change in control,
which is defined as a consolidation, merger or statutory amalgamation or
arrangement of the Corporation with or into another corporation, a separation of
the business of the Corporation into two or more entities, a transfer of all or
substantially all of the assets of the Corporation to another entity, or the
change in the majority of the board of directors other than by election by the
shareholders pursuant to board solicitation or by vacancies filled by the board
caused by death or resignation of such person, upon the exercise of an option
under the Plan, the holder thereof shall be entitled to receive the securities,
property or cash which the holder would have received upon such consolidation,
merger, amalgamation, arrangement, separation or transfer if the holder had
exercised the option immediately prior to such event, unless the directors of
the Corporation otherwise determine the basis upon which such option shall be
exercisable.

     SECTION 3.08 NO REPRESENTATION OR WARRANTY. The Corporation makes no
representation or warranty as to the future market value of any Common Shares
issued in accordance with the provisions of the Plan.

     SECTION 3.09 INTERPRETATION. This Plan shall be governed by and construed
in accordance with the laws of the Province of Quebec.

     SECTION 3.10 APPROVAL AND EFFECTIVE DATE. This Plan shall be effective as
of the date it is approved by the Board of Directors and any securities
regulatory body or stock exchange in Canada having jurisdiction over the
securities of the Corporation.

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