Document:

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                                                                   EXHIBIT 10(a)
                                 PERRIGO COMPANY
                         MANAGEMENT INCENTIVE BONUS PLAN
                                     FY 2002

OBJECTIVE

The objective of the Perrigo Company Management Incentive Bonus (MIB) plan is
to:

Motivate top management employees to create added value for the company's
shareholders through compensation incentives that are tied to the company's
operating and financial performance.

Reward top management employees for their contribution and the overall
performance of the company.

Help attract and retain top management employees.

Encourage cooperation among and between participants.

PARTICIPANTS

Participants must be employed in positions that are evaluated at grade 16 or
above (excluding Customer Business Managers eligible for Sales Bonus).

TOTAL COMPENSATION OBJECTIVES - TOP MANAGEMENT

The total compensation objectives for top management employees are as follows:

The base pay compensation target is the median base pay rate for like positions
in their competitive markets.

The total cash compensation target is the 75th percentile for similar positions
in their competitive markets. Cash compensation includes base pay and all
short-term cash incentive opportunities, including MIB. Long-term incentives
such as stock options are not included in the cash compensation objectives.

PLAN DESIGN

The Perrigo Company Management Incentive Bonus is based on Return-on-Assets and
includes the following key features:

o    The focus on optimizing ROA is fundamental to growing and accelerating our
     earnings per share. As a low cost producer, we must maximize our profits
     per asset dollar.

o    At the beginning of each fiscal year, the Compensation Committee of the
     Board of Directors will determine the corporate return on assets goal. This
     goal is based on a comparison with

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     similar companies in comparable industries, in conjunction with
     establishing challenging, but reasonable, expectations for the Perrigo
     business plan.

o    The MIB is a pooled fund concept. At the end of each fiscal year, money
     will have been accrued for disbursement to participants. The amount
     disbursed to each participant will be based on the number of shares
     assigned to the participant and the value of each share for the year
     (dollars in the pool/total number of MIB shares).

o    The number of shares allocated to each position will be made with
     consideration to grade level and the total compensation objectives noted in
     Section III above.

OTHER RULES

1.   Partial year participation is permitted. Employees new to an MIB level
     position will join the plan on the first day of the month nearest their
     entry date.

2.   Except as otherwise provided in paragraphs 3 below, no portion of the MIB
     is considered earned, and therefore payable, unless the participant is
     employed by Perrigo, in good standing, on the first day of the following
     fiscal year.

3.   If a participant's employment terminates during the fiscal year for:

     o    retirement at age 65 or older;

     o    retirement at age 60 or older with at least 10 years of service;

     o    retirement pursuant to the participant's acceptance of early
          retirement under an early retirement plan;

     o    death or permanent disability as determined by the Compensation
          Committee;

     the participant, or his or her estate in the case of death, shall be
     entitled to a pro rata portion of any MIB bonus payment for such fiscal
     year, computed to the date of such termination.

     Executive management retains the sole right to make, or not make, any such
     payments at its discretion. Reasons for not making MIB payments to retirees
     include (but are not limited to) poor performance and reason to believe
     that the former employee left Perrigo to accept full-time employment
     elsewhere or to serve in any capacity on behalf of known or potential
     competitors of the business.

4.   Exceptions to paragraphs 2 and 3 above can only be made at the sole
     discretion of the Chief Executive Officer.

5.   Extraordinary items (charges or credits) are generally excluded from the
     calculations of the plan at the discretion of the Board of Directors

6.   One hundred percent (100%) of any earned incentive will be paid within a
     reasonable time after the close of each fiscal year. Senior executives
     retain authority to reduce or withhold payment to any MIB participant
     reporting in their area of influence based on sub-standard performance. The
     Compensation Committee will be responsible for making this determination
     for any participant in a senior executive management position.

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OTHER PLAN DESIGN RATIONALE

The components of the plan have been selected with reasons detailed below:

Total depreciated assets less cash, including capitalized leases are used as a
base for measurement for ease of comparison with FORTUNE 500 or other reported
statistics on business performance. Because management should be motivated to
generate as much cash as possible and because the return on cash invested is
less than on assets, cash is excluded from the asset base on a monthly basis.

Operating Income This measure eliminates interest and other income/expenses and
income taxes from the calculation.

     Interest income or expense is excluded because it is often related to
non-operating activities such as stock buyback, option exercises, debt or equity
issues, asset sales, etc. It is also subject to interest rate fluctuations over
which management has little control.

     Income taxes are excluded because they are subject to legislative changes
over which management has little, if any control.

Average depreciated assets less cash on a monthly basis are used to ensure
continued management attention to controlling the use of assets throughout the
year rather than emphasis on year-end figures.<PAGE>
                                                                   EXHIBIT 10(b)

                   PERRIGO COMPANY EMPLOYEE STOCK OPTION PLAN

                         AS ADOPTED ON AUGUST 24, 1988
       AS AMENDED AND RESTATED AS OF AUGUST 15, 1995 AND AUGUST 28, 1997
        AS AMENDED APRIL 14, 1999, AUGUST 25, 2000, AND AUGUST 21, 2002

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                   PERRIGO COMPANY EMPLOYEE STOCK OPTION PLAN

1.       Name and Purpose.

         This plan shall be known as the Perrigo Company Employee Stock Option
Plan (hereinafter called the "Plan"). The Plan is intended as an qualified to
certain officers and key employees (hereinafter called "Participant" or
"Participants") of Perrigo Company (hereinafter called the "Company") and its
Subsidiaries to remain in the employ of the Company and its Subsidiaries, as the
case may be, and to encourage stock ownership by the Participants in the
Company, in order that they may acquire a proprietary interest in the business
of the Company. Stock options granted under the Plan may be of two types,
qualified stock options and non-qualified stock options. It is intended that
qualified stock options granted under the Plan shall constitute "incentive stock
options" within the meaning of Section 422A of the Internal Revenue Code of 1986
as now in effect or as later amended (the "Code") and shall be subject to the
tax treatment described in Section 421 of the Code. As used herein and in any
option granted hereunder, "Subsidiary" or "Subsidiaries" shall mean the same as
those terms are defined in Section 425(f) of the Code.

2.       Stock.

         All stock subject to options under the Plan shall be authorized but
unissued or reacquired common stock, without par value, of the Company
(hereinafter called "Common Stock"). The aggregate number of shares of Common
Stock which may be issued to all Participants under options granted under this
Plan shall not exceed 15,000,000 shares.* In the event that any outstanding
option under the Plan expires for any reason, including failure to satisfy any
vesting requirement imposed pursuant to Section 7 of the Plan, the shares of
Common Stock allocable to the unexercised portion of such option may again be
subjected by the Company to an option under the Plan.

3.       Administration.

         The Plan shall be administered by a committee appointed by the Board of
Directors of the Company (the "Committee") to whom administration of the Plan
has been duly delegated. The Committee shall consist of three or more directors
of the Company. To the extent required to comply with Rule 16b-3 under the
Securities Exchange Act of 1934 (the "Exchange Act"), each member of the
Committee shall qualify as a "non-employee director," as defined therein. To the
extent required to comply with Code Section 162(m) and the related regulations,
each member of the Committee shall qualify as an "outside director," as defined
therein.

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*    Adjusted for the three and one-half-for-one common stock split, effective
     November, 1991 and the two-for-one common stock split, effective August,
     1993. Amended August, 1991, November, 1991, August, 1995, August, 1997, and
     August, 2000 to increase the shares of Common Stock which may be issued
     under the Plan.

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         The Committee in its discretion shall determine whether and to what
extent options granted under the Plan shall be designated as qualified stock
options or non-qualified stock options, provided, however, that all options that
fail to meet the incentive stock option requirements of Section 422(A) of the
code shall automatically be designated as non-qualified stock options. With
respect to the granting of options pursuant to this Plan, the Committee shall
hold meetings at such times and places as it may determine, and all action with
respect to this Plan shall be taken by a majority of its members. The management
of the Company shall, if requested by the Committee, make recommendations to the
Committee with respect to the Participants whom the management believes should
be granted options and the amount of Common Stock to be subject to the options
granted to each under the Plan, but the Committee shall have the full right and
responsibility to determine from time to time which officers and employees of
the Company and its Subsidiaries shall be granted options under the Plan, the
time or times at which options shall be granted, the number of shares of Common
Stock to be covered by each option and the terms and conditions of each option
granted. In making such determinations, the Committee may take into account the
nature of the services rendered by such individuals, their present and potential
contributions to the success of the Company and such other factors as the
Committee in its discretion shall deem relevant.

         The interpretation and construction by the Committee of any provisions
of the Plan or of any option granted under the Plan shall be final. No member of
the Committee or officer of the Company shall be liable for any action or
determination made in good faith with respect to the Plan or any option granted
under it. All actions taken by the Committee with respect to any option granted
pursuant to the Plan shall be conclusively binding on the Company and the
Participant.

4.       Eligibility.

         The Participants eligible to receive options shall be such key
employees, including officers, of the Company and its Subsidiaries as the
Committee may select from time to time. No non-employee director of the Company
may participate under the Plan. An employee who has been granted an option or
options at any time may be granted an additional option or options at a later
time or times if the Committee shall so determine.

5.       Option Price.

         Each option shall state the option price, which shall not be less than
one hundred percent (100%) of the fair market value of the shares of Common
Stock of the Company on the date of the granting of the option; provided,
however, the option price for any qualified stock option granted to a
Participant who then owns (or is deemed to own under the applicable provisions
of the Code and rules and regulations promulgated thereunder) stock of the
Company or its Subsidiaries possessing more than ten percent (10%) of the total
combined voting power of all classes of stock of the Company or of any
Subsidiary shall not be less than one hundred and ten percent (110%) of the fair
market value of the shares of Common Stock of the Company on the date of
granting of the option. For purposes of the Plan, "fair market value" shall be
the average of the highest price and the lowest price at which the Common Stock
is traded on the date of

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determination, or on the most recent date on which the Common Stock is traded
prior to that date, as reported on the NASDAQ National Market. Subject to the
foregoing, the Committee shall have full authority and discretion in fixing the
option price, and shall be fully protected in so doing.

6.       General Limitation on Incentive Stock Options.

         The aggregate fair market value (determined as of the date on which the
option is granted) of stock with respect to which options designated as
qualified stock options, together with qualified stock options under any other
plan of the Company (and any parent or subsidiary corporation within the meaning
of Sections 424(e) and (f) of the Code), are exercisable for the first time by
any employee in any calendar year shall not exceed $100,000. In addition, no
option designated as a qualified stock option may be granted under the Plan if
such grant, together with any other applicable grant of qualified stock options
under the Plan or under any other plan of the Company (and any parent
corporation within the meaning of Section 425(e) of the Code or any subsidiary),
would exceed any other applicable maximum established under Section 422 of the
Code for incentive stock options. If an option granted under the Plan which is
designated as a qualified stock option exceeds such limitations, such option, to
the extent of such excess, shall be a separate non-qualified option.

7.       Terms and Conditions of Options.

         All options granted pursuant to the Plan shall be authorized by the
Committee and shall be issued in the form approved by the Committee from time to
time; provided, however, that any such options granted shall be subject to the
following terms and conditions:

         (a) Number of Shares and Option Price. Each option shall state the
number of shares of Common Stock to which it pertains and the option price per
share.

         (b) Continued Employment. Each Participant shall agree to remain in the
employment of and to render to the Company or its Subsidiary, as the case may
be, his or her services for such time period as may be determined by the
Committee at the time of granting the option, and such option shall not vest or
be exercisable during said time period; provided, however, that the Committee
may, at its discretion, provide for no vesting or may provide for staggered
vesting, in which event the option for those shares of Common Stock for which
the required staggered vesting period has been met shall vest and may thereafter
be exercised even though the option as to other shares of stock in the same
grant or any subsequent grant has not then vested.

         (c) Term, Vesting and Exercise of Options. Each option shall vest and
may only be exercised, if at all, between the original exercise date and the
expiration date determined pursuant to the provisions of this Plan or, as
otherwise may be determined from time to time by the Committee, provided that no
option shall have a term of more than ten years, and provided further that if an
optionee owns (or is deemed to own under applicable provisions of the Code and
the rules and regulations promulgated thereunder) stock of the Company or its
Subsidiaries

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possessing more than ten percent (10%) of the total combined voting power of all
classes of stock of the Company, and an option granted to such optionee is
intended to qualify as a qualified stock option, the term of such option shall
be no more than five years. Wherever in this Section 7 reference is made to the
"respective terms of the options," such reference shall mean the term determined
pursuant to this Section 7(c).

         Each qualified option intended to qualify as an incentive stock option
under Section 422A of the code must be exercised, if at all, while the Employee
is employed by the company or within three months following the Participants
termination of employment for any reason; provided, however that in the case of
death or permanent disability, such exercise period shall be extended to twelve
months from the date of such event and provided, further that any qualified
options granted under this Plan shall automatically convert to a nonqualified
option following the expiration of such three month or twelve month period if,
pursuant to the terms of this Plan or pursuant to action taken by the Committee,
the Participant is permitted to exercise such option after the applicable time
period.

         (d) Nontransferability of Options. During the lifetime of the
Participant, his or her qualified stock option shall be exercisable only by him
or her while he or she is employed by the Company or its Subsidiary or within
the time period specified in subsection (f), (g), (h) or (j) below, as the case
may be, and shall not be assignable or transferable by him or her and no other
person shall acquire any rights therein. On the death of the Participant, his or
her qualified stock option may only be transferred or assigned by his or her
will or by the laws of descent and distribution and, in such event, may only be
exercised within the time period and in the manner specified in subsection (f)
or (k) below.

         Non-qualified stock options may be transferred by a Participant during
his or her lifetime to a trust, partnership or other entity established for the
benefit of Participant and his or her immediate family which, for purposes of
this Plan shall mean those persons who, at the time of such transfer, would be
entitled to inherit part or all of the estate of the Participant under the laws
of intestate succession then in effect in the state in which the Participant
resides if the Participant had died on such transfer date without a will. Except
as above provided, non-qualified stock options shall only be exercisable by the
Participant during his or her lifetime at the times and in the manner provided
in the Plan.

         (e) Vesting on Change of Control. Notwithstanding the vesting period
specified in any option granted under the Plan, each such option shall
immediately vest in full on the date on which (i) any Person (as that term is
defined in Section 2(2) of the Securities Act of 1933 and Section 13(d)(3) of
the Exchange Act, as hereafter amended from time to time) acquires or otherwise
becomes the owner of voting stock of the Company, which, together with all other
voting stock of the Company then owned or controlled by such Person, represents
fifty percent (50%) or more of the then issued and outstanding voting stock of
the Company or (ii) the composition of the Board of Directors of the Company is
changed such that a majority of the members of the Board of Directors is
comprised of individuals who are neither incumbent members nor nominated or
appointed by a majority of such incumbent members or their nominees, and each
such vested option may thereafter be exercised, in whole or in part, at any

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time prior to the expiration of the respective terms of the options.
Notwithstanding the preceding, the acceleration of vesting under this subsection
(e) for former employees of the Company shall only extend to those options which
would otherwise have vested during any extended vesting period granted to such
employee at the time of his or her termination of employment.

         (f) Termination of Employment by Death or Disability. If the
Participant's employment with the Company or its Subsidiary is terminated by
death or disability (as defined in the Company's long-term disability insurance
plan under which such Participant is then covered), all of his or her options
shall immediately vest in full and may thereafter be exercised in whole or in
part by the duly appointed fiduciary of the deceased Participant's estate or the
person or persons to whom such option is transferred by his or her will or by
the laws of descent and distribution of the state in which Participant resided
at the time of his or her death (the "Beneficiary"), or, in the case of
disability by the disabled Participant or the conservator of his or her estate,
at any time prior to the expiration of the respective terms of the options.

         (g) Termination of Employment by Retirement. If the Participant's
employment with the Company or its Subsidiary is terminated by his or her
retirement (i) pursuant to a voluntary early retirement program approved by the
Board of Directors of the Company or the Committee, (ii) after attaining age 65,
(iii) after attaining age 60 with ten or more years of service with the Company
or its Subsidiary, or (iv) as otherwise determined by the Board of Directors of
the Company or the Committee in accordance with the Company's then existing
policies and programs, all of his or her options shall immediately vest in full
and may thereafter be exercised in whole or in part by the Participant at any
time prior to expiration of the respective terms of the options.

         (h) Involuntary Termination of Employment for Economic Reasons. If the
Participant's employment with the Company or its Subsidiary is terminated
involuntarily for economic reasons (including, without limitation,
restructurings, dispositions and layoffs) as determined by the Board of
Directors of the Company or the Committee, the Participant may thereafter
exercise his or her options, in whole or in part, at any time not later than the
earlier of (i) 24 months following termination of employment or (ii) the
expiration of the respective terms of the options. Vesting of options not fully
vested at employment termination shall not be accelerated, but the options shall
continue to vest during the post-termination exercise period according to the
vesting schedule in effect prior to employment termination as if the Participant
had remained employed by the Company or its Subsidiary during the
post-termination exercise period. Any options that do not vest during the
post-termination exercise period will be forfeited at the end of such period.

         (i) Termination of Employment for Cause. If the Participant's
employment with the Company or its Subsidiary is terminated for cause, the
Participant's right to exercise his or her options shall terminate at the time
such notice of termination of employment is given by the Company or its
Subsidiary to the Participant. For purposes of this provision, a termination for
cause shall include any of the following reasons:

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                  (1)      The commission of an act which, if proven in a court
                           of law, would constitute a felony violation under
                           applicable criminal laws;

                  (2)      A breach of any material duty or obligation imposed
                           upon the Participant by the Company or its
                           Subsidiary;

                  (3)      Divulging the Company's or its Subsidiary's
                           confidential information, or breaching or causing the
                           breach of any confidentiality agreement to which the
                           Participant or the Company or its Subsidiary is a
                           party;

                  (4)      Engaging or assisting others to engage in business in
                           competition with the Company or its Subsidiary;

                  (5)      Refusal to follow a lawful order of the Participant's
                           superior or other conduct which the Board of
                           Directors of the Company or the Committee determines
                           to represent insubordination on the part of the
                           Participant; or

                  (6)      Other conduct by the Participant which the Board of
                           Directors of the Company or the Committee, in its
                           discretion, deems to be sufficiently injurious to the
                           interests of the Company or its Subsidiary.

         (j) Other Terminations of Employment. With respect to any termination
of employment not covered by Sections 7(f), 7(g), 7(h) or 7(i), the Participant
shall have the right to exercise his or her options not later than the earlier
of (i) three months following termination of employment with the Company or its
Subsidiary or (ii) the expiration of the respective terms of the options, but
only to the extent that the Participant's right to exercise the options has
vested prior to such termination.

         (k) Death Following Termination of Employment. If a Participant dies
following retirement and while his or her options remain exercisable pursuant to
Section 7(g), the duly appointed fiduciary of the deceased Participant's estate
or his or her Beneficiary may exercise the options at any time prior to the
expiration of the respective terms of the options. If a Participant dies
following termination of employment and while his or her options remain
exercisable pursuant to Section 7(h), the duly appointed fiduciary of the
deceased Participant's estate or his or her Beneficiary may exercise the options
(to the extent such options were vested and exercisable prior to death), at any
time prior to the later of 24 months after the Participant's termination of
employment or 12 months after the date of death, but in no event later than the
expiration of the respective terms of the options. If a Participant dies
following termination of employment and while his or her options remain
exercisable pursuant to Section 7(j), the duly appointed fiduciary of the
deceased Participant's estate or his or her Beneficiary may exercise the options
(to the extent such options were vested and exercisable prior to death), at any
time prior to the earlier of (i) 12 months after the date of death or (ii) the
expiration of the respective terms of the options.

         (l) Lapse of Option. If the Participant's employment with the Company
or its Subsidiary is terminated for any reason prior to the earliest date on
which the Participant's option

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may be exercised pursuant to its terms, and if such option does not become
exercisable on the Participant's termination date pursuant to this Section 7,
then the option shall lapse effective as of the Participant's termination of
employment.

         (m) Committee Discretion as to Non-Qualified Options. Notwithstanding
the foregoing provisions of this Section 7, the Committee, in its discretion,
may alter the terms and conditions respecting the time that an optionee has to
exercise any non-qualified option and may extend the time that an optionee has
to exercise any outstanding non-qualified option.

         (n) Covered Employee Limitation. Options for more than 100,000 shares
of Common Stock may not be granted in any calendar year to any Participant who
is or is expected to be a "covered employee" within the meaning of Code Section
162(m) and the related regulations for the year in which such options are
taxable to such Participant.

8.       Other Option Provisions.

         Any option granted under the Plan may contain such provisions,
including, without limitation, restrictions upon the exercise of the option and
subsequent transfer of the underlying stock, as the Committee shall deem
advisable, provided that, with respect to a qualified stock option, any such
limitations or restrictions do not violate the provisions of Section 422 of the
Code, or of any regulations promulgated thereunder.

9.       Term of Plan.

         Options must be granted pursuant to the Plan, if at all, within a
period of ten (10) years from August 25, 2000, which is the date the original
term of the Plan was extended; provided that the Committee may revise or
discontinue the Plan at any time in accordance with Section 14.

10.      Exercise of Option and Payment of Option Price.

         Subject to Sections 6 and 7 above, each option granted under the Plan
may be exercised in whole or in part, over the term of the option, by delivery
to the President, Secretary, Assistant Secretary or chief financial officer of
the Company, or their designee, of a duly executed notice of exercise in the
form provided by the Company. The exercise price of an option shall be paid in
full at the time of exercise either in cash, or through the surrender of
previously-acquired shares of Common Stock that have been held by the
Participant for at least six months and that have a value equal to the exercise
price of the option, or by a combination of the foregoing. The Company may
withhold, or allow the Participant to remit to the Company, any Federal, state
or local taxes applicable to any exercise or other event giving rise to income
tax liability with respect to an option. In order to satisfy all or a portion of
such income tax liability, the Participant may elect to surrender
previously-acquired shares of Common Stock or to have the Company withhold
shares of Common Stock that would otherwise have been issued pursuant to the
exercise of the option; provided that any withheld shares, or any surrendered
shares previously acquired from the Company and held by the Participant for less
than six months, may only be used to satisfy the minimum tax withholding
required by law.

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11.      Adjustment Provisions.

         In the event of changes in the outstanding Common Stock of the Company
by reason of stock dividends, split-ups, recapitalization, combination of
shares, exchange of shares, mergers, consolidations, separations,
reorganizations, liquidations, or otherwise, the number and class of shares
available for options under the Plan and the shares subject to any outstanding
options and the option price thereof shall be equitably adjusted by the
Committee.

12.      Mergers or Consolidations.

         In the event of the merger or consolidation of the Company into or with
another corporation in which the Company ceases to exist, the option shall be
transferred into options of the surviving corporation to purchase the same
comparable number of shares of the surviving corporation and on the same terms
and conditions as provided for and contained in the options granted under the
Plan, and the Company shall require, as a condition to such merger or
consolidation, that the surviving corporation adopt the Plan as its plan and
issue comparable options to purchase shares of its stock.

13.      Loans to Participants.

         The Company may make loans to any one or more of the Participants as
authorized by the Committee, and on terms and conditions set by the Committee,
for the purpose of financing the exercise of options granted under the Plan;
provided, however, that the maximum aggregate amount of any such loan or loans
to a Participant may not exceed the amount of the Participant's current year
base salary, excluding bonuses.

14.      Amendment or Termination of Plan.

         The Committee may amend, suspend or terminate this Plan at any time and
from time to time. However, without the approval of a majority in interest of
the stockholders of the Company, no amendment shall be made which shall either
(i) increase the maximum number of shares of Common Stock which may be issued
under the options granted under the Plan, (ii) expand the classes of persons
eligible to be granted options under the Plan, (iii) change the provisions of
the Plan respecting the price at which options shall be granted, or (iv) extend
the term of the Plan. No amendment of the Plan shall adversely affect rights or
obligations under the Plan with respect to options granted prior to such
amendment. To the extent that any provision of the Plan or any terms or
conditions of any qualified stock option issued under the Plan shall hereafter
be determined to be in conflict with the provisions of Code Section 422, as
amended from time to time, such provision, term or condition shall be amended by
the Committee to bring such option into conformity with said Section.

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15.      General Provisions.

         (a) Nothing in the Plan nor in any instrument executed pursuant hereto
shall confer upon any employee any right to continue in the employ of the
Company or a Subsidiary or shall affect the right of the Company or of a
Subsidiary to terminate the employment of any employee at any time with or
without cause.

         (b) No shares of Common Stock shall be issued or transferred pursuant
to an option granted under the Plan unless and until all legal requirements
applicable to the issuance or transfer of such shares have, in the opinion of
counsel to the Company, been met.

         (c) No employee and no beneficiary or other person claiming under or
through him or her shall have any right, title or interest in or to any shares
of Common Stock allocated or reserved for the purposes of the Plan or subject to
any option except as to such shares of Common Stock, if any, as shall have been
issued pursuant to the exercise of such option.

         (d) The proceeds received by the Company from the sale of Common Stock
pursuant to options granted under the Plan may be used for any general corporate
purposes.

16.      Effective Date and Termination Date of Plan.

         The Plan was originally adopted by the Board of Directors of the
Company on August 24, 1988. The Plan was amended and restated effective as of
August 15, 1995 and again as of August 28, 1997. The Plan was amended on April
14, 1999, on August 25, 2000 at which time the termination date of the Plan was
extended from August 15, 2005 to August 25, 2010, and on August 21, 2002.

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