Document:

Exhibit 10.4

                         AUTOMATIC DATA PROCESSING, INC.

                     SUPPLEMENTAL OFFICERS RETIREMENT PLAN (as amended on May
    14, 2002 and as further amended on January 27, 2005)
      The purpose of this Supplemental Officers Retirement Plan (the "Plan") is
to provide an additional means by which AUTOMATIC DATA PROCESSING, INC. may
attract, retain and encourage the productive efforts of a select group of
corporate vice presidents and more senior corporate officers who provide
valuable services to AUTOMATIC DATA PROCESSING, INC. and its subsidiaries. The
Plan provides supplemental retirement benefits to qualifying participants.

      The Plan is as follows:

                              ARTICLE I

                             DEFINITIONS
                             -----------

      The following terms when used in this Plan shall have the designated
meaning, unless a different meaning is clearly required by the context.

      1.1 Annual Plan Benefit. The Annual Plan Benefit shall be the annual
          --------------------
amount of a Participant's Plan benefit calculated in accordance with the
provisions of Section 3.1 below.

      1.2  Annual Benefit Multiplier.  The Annual Benefit Multiplier shall be
           --------------------------
1-1/2%.

      1.3 Committee. Three board members or senior officers of the Corporation
          ----------
appointed from time to time by the Board of Directors of the Company.

      1.4  Board.  The Board of Directors of the Company.
           ------

      1.5  Code.  The Internal Revenue Code of 1986, as amended.
           -----

      1.6  Company.  Automatic Data Processing, Inc. ("ADP") and its
           --------
subsidiaries, and ADP's successors.

      1.7  Early Retirement Date.  The date on which a Participant attains age
           ----------------------
sixty (60).

      1.8 Final Average Annual Pay. The average annual compensation of a
          -------------------------
Participant for the five full consecutive calendar years during his Future
Service period during which he received the largest total amount of
compensation. For this purpose a Participant's "compensation" shall mean his
total compensation actually paid or accrued by the Company to or for a
Participant including, without limitation, bonuses paid or accrued, performance
incentive payments and the like and restricted stock plans and programs (other
than the broad-based restricted stock program in which all "letter grade"
associates may participate), and excluding relocation pay, compensation derived
from stock options, and stock appreciation rights or any similar plans; provided
that, notwithstanding anything to the contrary set forth herein, amounts
deferred at a Participant's election under a plan described in section 401(k) of
the Code, and the value (at time of grant) of any stock option grant made in
lieu of a bonus payment, shall be included in a Participant's compensation. The
Company's chief executive officer shall determine the value of any stock option
grant made in lieu of a bonus payment, which value shall not, in any event, be:
(i) greater than the "target bonus" amount of the stock option grant was made in
lieu of (the "Substituted Amount") or (ii) less than the amount such Participant
would have received had the foregoing stock option grant not been made and the
normal bonus "scoring" methodology been applied to the Substituted Amount,
provided that such amount shall not exceed the Substituted Amount. The value of
such stock option grant shall be included in a Participant's compensation in the
calendar year in which the bonus (which the stock option was granted in lieu of)
would have otherwise been paid or accrued. The value (on the date that
restrictions lapse) of a Participant's restricted stock with restrictions
lapsing during the Company's fiscal year that begins during the applicable
calendar year shall be included in the Participant's compensation for such
calendar year.

      1.9 Future Service. A Participant's period of full calendar years of
          ---------------
continuous employment with the Company after his Plan participation has begun.
Leaves of absence of less than six months may be taken into account as Future
Service, to the extent provided by the Committee. The Committee may, in the
applicable Supplement, grant a Participant prior service credit for determining
the length of his Future Service period.

      1.10 Government Sponsored Plan Benefits. The annual amount of benefits to
           -----------------------------------
which a Participant is entitled on his Normal Retirement Date under all
government sponsored retirement benefit plans (including, without limitation,
Participant's Social Security benefits). A Participant's government sponsored
retirement plan benefits shall be expressed as an annual amount in the form of
an actuarially equivalent straight life annuity starting on his Normal
Retirement Date.

      1.11 Maximum Annual Benefit Limitation.  The Maximum Annual Benefit
           ----------------------------------
Limitation shall be 25% of a Participant's Final Average Annual Pay.

      1.12 Normal Retirement Date.  The date on which the Participant attains
           -----------------------
age sixty-five (65).

      1.13 Other Retirement Benefits.  The sum of the Participant's Private
           --------------------------
Sector Plan Benefits and his Government Sponsored Plan Benefits.

      1.14 Participant.  An individual who has been designated as a
           ------------
Participant by the Committee pursuant to Article II.

      1.15 Private Sector Plan Benefits. The annual amount of benefits to which
           -----------------------------
a Participant is entitled on his Normal Retirement Date under all retirement
plans maintained by the Company (other than this Plan), or by any former or
subsequent employer of Participant (other than a governmental body covered by
Section 1.10 above), whether as a periodic payment, as a lump sum, or otherwise.
A Participant's Private Sector Plan Benefits shall be expressed as an annual
amount in the form of an actuarially equivalent straight life annuity starting
at his Normal Retirement Date.

      1.16 Supplement. A supplement attached to and made a part of this Plan,
           -----------
which shall set forth for each Participant any special conditions applicable to
him.

      1.17 Termination of Employment. References hereunder to a Participant's
           --------------------------
termination of employment, the date a Participant's employment terminates and
the like, shall refer to the ceasing of the Participant's employment with the
Company for any reason.

      1.18 Vested Percentage. Except to the extent set forth in Sections 3.4 and
           ------------------
5.5, until a Participant completes 5 full calendar years of Future Service, such
Participant's Vested Percentage shall be 0% and he shall not be entitled to any
Plan benefits hereunder. Upon completing 5, 6, 7, 8, 9, and 10 or more full
calendar years of Future Service, a Participant's Vested Percentage shall be
50%, 60%, 70%, 80%, 90%, and 100%, respectively. The Committee may, in the
applicable Supplement, grant a Participant prior service credit for determining
his Vesting Percentage purposes. Any Participant who has passed the age of 55
and served as a corporate officer for more than 5 years as of the effective date
of this Plan, January 1, 1989, shall be 100% vested in all of his plan benefits
hereunder.

                             ARTICLE II

                             ELIGIBILITY
                             -----------
      (a) The Committee may at any time and from time to time (but prospectively
only) designate any corporate vice president or any more senior corporate
officer of the Company as a Participant in the Plan; provided that such person
participates to the maximum extent permissible in the Company's other retirement
plans (including, without limitation, the Automatic Data Processing, Inc.
Retirement and Savings Plan and the Automatic Data Processing, Inc. Pension
Retirement Plan) during the entire period he is a Participant in the Plan.

      (b) A person shall automatically cease to be a Participant on the earlier
to occur of the date on which: (i) he is no longer a corporate vice president or
a more senior corporate officer of the Company; or (ii) he ceases to participate
to the maximum extent permissible in the Company's retirement plans (including,
without limitation, the Automatic Data Processing, Inc. Retirement and Savings
Plan and the Automatic Data Processing, Inc. Pension Retirement Plan).

                             ARTICLE III

                         RETIREMENT BENEFITS
                         -------------------
      3.1  In General.
           -----------

      (a) A Participant's Annual Plan Benefit is the product of (i) his Final
Average Annual Pay, (ii) his Future Service period, (iii) the Annual Benefit
Multiplier and (iv) his Vested Percentage; provided that, in no event, may the
Participant's Annual Plan Benefit exceed the Maximum Annual Benefit Limitation
applicable to him.

      (b) In addition, the Annual Plan Benefits otherwise payable to a
Participant under the Plan's basic benefit formula set forth in Section 3.1(a)
above shall be reduced to the extent necessary to cause the total of (i)
Participant's Annual Plan Benefits and (ii) Participant's annual Other
Retirement Benefits not to exceed 60% of Participant's Final Average Annual Pay.

     (c) A Participant's benefits under this Plan shall be expressed as an
annual amount in the form of a straight life annuity or, at the Committee's
election, another actuarially equivalent payment option, starting as at the date
the payments to such Participant under this Article III begin.

      3.2 Normal Retirement Benefit. If a Participant wishes to receive Plan
          --------------------------
benefits on and after his Normal Retirement Date, the Company will pay the
Participant a monthly benefit, starting on the first of the month after Normal
Retirement Date and ending with the payment for the month in which his death
occurs; provided that no benefit shall be paid hereunder unless and until such
Participant has ceased to be employed by the Company. Such monthly benefit shall
be one-twelfth of such Participant's Annual Plan Benefit determined in
accordance with the provisions of Section 3.1 above.

      3.3 Early Retirement Benefit. If a Participant wishes to receive Plan
          -------------------------
benefits commencing on or after his Early Retirement Date and before his Normal
Retirement Date, the Company will, at Participant's request, pay the Participant
a monthly benefit starting on the first of the month after his Early Retirement
Date after which he requested that he begin receiving benefits under the Plan
and ending with the payment for the month in which his death occurs; provided
that no benefit shall be paid hereunder unless and until such Participant has
ceased to be employed by the Company. Such monthly benefit shall be in an amount
equal to the product of the monthly benefit the Participant would have received
under Section 3.2 if the Participant had elected to commence receiving payments
under the Plan on his Normal Retirement Date, actuarially reduced to reflect the
commencement of the payment of Plan benefits before his Normal Retirement Date.
The Committee may, in its discretion, reduce a Participant's Plan benefits by
less than a straight actuarially reduced amount if Participant begins to receive
Plan benefits after his Early Retirement Date and before his Normal Retirement
Date.

      3.4 Disability Retirement Benefit. If a Participant shall incur a
          ------------------------------
Disability while employed by the Company, the Company shall pay such Participant
a monthly benefit starting on the first day of the calendar month after the date
his Disability begins and ending with the payment for the calendar month in
which his death occurs or his disability ends, whichever occurs first. Such
monthly benefit (which shall not be reduced by, and shall not reduce, the
benefits, if any, payable to a Participant under the Company's Long Term
Disability Insurance Program) shall be calculated in the same way as an Early
Retirement benefit under Section 3.3, based on his Final Average Annual Pay when
his Disability begins (which will, for purposes of this Section 3.4 only, be
determined over less than five full consecutive calendar years to the extent
that his Future Service period is less than five years), except that (i) the
Vested Percentage shall always be 100%, (ii) there shall not be any actuarial
reduction to reflect the commencement of the payment of benefits before his
Normal Retirement Date, and (iii) there shall not be any Future Service period
accrual during his Disability. For purposes of this Section 3.4, "Disability"
shall have the same meaning, and shall be determined in the same manner, as it
is determined under the Company's Long Term Disability Insurance Program as in
effect on the date the Disability begins.

      3.5 No Duplication. In no event shall benefits become payable to any
          ---------------
Participant under more than one Section of this Article III.

                             ARTICLE IV

                             FORFEITURES
                             -----------

      4.1 Forfeiture for Competitive Employment. If a Participant violates the
          --------------------------------------
non-competition provisions of any agreement he has entered into with the Company
after his employment terminates, or if his employment with the Company is
terminated on account of his dishonesty or gross negligence, such Participant
shall forever and irrevocably forfeit all benefits otherwise due him under the
terms of the Plan.

      4.2 Limitation. If any provision of this Article IV shall be unenforceable
          -----------
as a matter of law, it shall be construed to apply to the greatest extent
permitted by law so as to give effect to its intended purposes.

                              ARTICLE V

                   CONDITIONS RELATED TO BENEFITS
                   ------------------------------

      5.1 Administration of Plan. The Committee shall administer the Plan and
          -----------------------
shall have the sole and exclusive authority to interpret, construe and apply its
provisions. The Committee shall have the power to establish, adopt and revise
such rules and regulations as it may deem necessary or advisable for the
administration of the Plan and the operation of the Committee's activities in
connection therewith. All decisions of the Committee shall be by vote or written
consent of the majority of its members and shall be final and binding. Members
of the Committee shall be eligible to participate in the Plan while serving as a
member of the Committee, but a member of the Committee shall not vote or act
upon any matter which relates solely to such member in his capacity as a
Participant.

      5.2 Grantor Trust. The Committee may, at its discretion, have the Company
          --------------
create a grantor trust (within the meaning of section 671 of the Code) in
connection with the adoption of this Plan to which it may from time to time
contribute amounts to accumulate an appropriate reserve against its obligations
hereunder. Notwithstanding the creation of such trust, the benefits hereunder
shall be a general obligation of the Company. Except to the extent that the
benefit amounts payable hereunder have been specifically transferred for an
identified Participant into the Automatic Data Processing, Inc. Retirement and
Savings Plan (the "Pension Plan") pursuant to the terms and conditions of the
Pension Plan and are payable thereunder, a Participant shall have only a
contractual right as a general creditor of the Company to the amounts, if any,
payable hereunder and such right shall not be secured by any assets of the
Company or the trust.

      5.3 No Right to Company Assets. Except to the extent that benefit amounts
          ---------------------------
have been specifically transferred for an identified Participant into the
Pension Plan pursuant to the terms and conditions of the Pension Plan and are
payable thereunder, neither a Participant nor any other person shall acquire by
reason of the Plan any right in or title to any assets, funds or property of the
Company whatsoever including, without limiting the generality of the foregoing,
any specific funds or assets which the Company may set aside in anticipation of
a liability hereunder, nor in any policy or policies of insurance on the life of
a Participant owned by the Company.

      5.4 No Employment Rights. Nothing herein shall constitute a contract of
          ---------------------
continuing employment or in any manner obligate the Company to continue the
service of a Participant, or obligate a Participant to continue in the service
of the Company, and nothing herein shall be construed as fixing or regulating
the compensation paid to a Participant.

      5.5 Company's Right to Terminate and Amend. The Company reserves the right
          ---------------------------------------
in its sole discretion at any time to amend the Plan in any respect or terminate
the Plan. Notwithstanding the foregoing, no such amendment or termination shall
reduce the amount of the benefit theretofore vested by any Participant or change
the conditions required to be satisfied to receive payment of such past accrued
benefit based on the provisions of the Plan as theretofore in effect. For this
purpose, the amount of a Participant's accrued benefit as of the date of any
plan amendment or termination shall be determined as if the Participant was then
retiring in accordance with Section 3.3 with his actual Vested Percentage
accrued as at such date; provided that if the Company is terminating the Plan
and if a Participant has not completed at least 5 years of Future Service,
Participant's Vested Percentage shall be (i) 40% if he has completed 4 years of
Future Service, (ii) 30% if he has completed 3 years of Future Service, (iii)
20% if he has completed 2 years of Future Service, (iv) 10% if he has completed
1 year of Future Service, and (v) 0% if he has not completed 1 year of Future
Service.

      5.6 Protective Provisions. The Participant shall cooperate with the
          ----------------------
Company by furnishing any and all information requested by the Company in order
to facilitate the payment of benefits hereunder.

      5.7 Right of Offset. If at the time any payment is to be made hereunder a
          ----------------
Participant is indebted to the Company or otherwise subject to a monetary claim
by the Company, the payments remaining to be paid to the Participant under the
Plan may, at the Company's discretion, be reduced by setoff against the amount
of such indebtedness or claim.

      5.8 No Third Party Rights. Nothing in this Plan or any trust established
          ----------------------
pursuant to Section 5.2 hereof shall be construed to create any rights hereunder
in favor of any person (other than the Company and any Participant) or to limit
the Company's right to amend or terminate the Plan in any manner subject to
Section 5.5 hereof.

                             ARTICLE VI

                            MISCELLANEOUS
                            -------------

      6.1 Nonassignability. No rights or payments to any Participant shall be
          -----------------
subject in any manner to anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance or charge, whether voluntary or involuntary, and no attempt
so to anticipate, alienate, sell, transfer, assign, pledge, encumber or charge
the same shall be valid, nor shall any such benefit or payment be in any way
liable for or subject to the debts, contracts, liabilities, engagements or torts
of any Participant or subject to levy, garnishment, attachment, execution or
other legal or equitable process. No part of the amounts payable shall, prior to
actual payment, be subject to seizure or sequestration for the payment of any
debts, judgments, alimony or separate maintenance owed by a Participant, nor be
transferable by operation of law in the event of a Participant's bankruptcy or
insolvency.

      6.2 Withholding. To the extent required by law the Company shall be
          ------------
entitled to withhold from any payments due hereunder any federal, state and
local taxes required to be withheld in connection with such payment.

      6.3 Gender and Number. Wherever appropriate herein, the masculine shall
          ------------------
mean the feminine and the singular shall mean the plural or vice versa.

      6.4 Notice. Any notice required or permitted to be made under the Plan
          -------
shall be sufficient if in writing and hand delivered, or sent by registered or
certified mail, to (a) in the case of notice to the Company or the Committee,
the principal office of the Company, directed to the attention of the Secretary
of the Committee, and (b) in the case of a Participant, such Participant's home
or business address maintained in the Company's personnel records. Such notice
shall be deemed given as of the date of delivery or, if delivery is made by
mail, as of the date shown on the postmark or on the receipt for registration or
certification.

      6.5 Validity. In the event any provision of this Plan is held invalid,
          ---------
void or unenforceable, the same shall not affect, in any respect whatsoever, the
validity of any other provision of this Plan.

      6.6 Applicable Law. This Plan shall be governed and construed in
          ---------------
accordance with the laws of the State of New Jersey.

                             ARTICLE VII

                          SPOUSAL BENEFITS
                          ----------------

      In the event of the death of a participant who is at least 35 years of age
at the time of his death and who is vested in accordance with the provisions of
Paragraph 1.18, the surviving spouse is entitled to receive 50% of the death
benefit which the participant would have been entitled to receive at the time of
his death. Such benefit shall be payable monthly as a straight life annuity
benefit and shall be calculated in accordance with the benefit which the
participant would have been entitled to at the normal retirement age of 65 or,
at the election of the spouse, in accordance with the early retirement provision
actuarily reduced.Exhibit 10.8

                         AUTOMATIC DATA PROCESSING, INC.

                             2000 STOCK OPTION PLAN
                  (originally effective as of August 10, 1999,
                   amended and restated as of August 11, 2003,
            and further amended and restated as of January 27, 2005)

      Automatic Data Processing, Inc., a Delaware corporation (the "Company"),
hereby formulates and adopts the following amended and restated 2000 Stock
Option Plan (the "Plan") for employees of the Company and its Subsidiaries (as
defined in Paragraph 5) and non-employee directors of the Company:

      1. PURPOSE. The purpose of the Plan is to secure for the Company the
benefits of the additional incentive inherent in the ownership of common stock,
par value $.10, of the Company ("Common Stock") by selected employees of the
Company and its Subsidiaries, and non-employee directors of the Company, who, in
the judgment of the Committee (as defined in Paragraph 2), are important to the
success and the growth of the business of the Company and its Subsidiaries, and
to help the Company and its Subsidiaries secure and retain the services of such
persons.

      2. ADMINISTRATION. Except to the extent required in order to qualify for
exemptive relief under Rule 16b-3 or its successor provision under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), or to satisfy
the requirements for performance-based compensation under Section 162(m) of the
Internal Revenue Code of 1986, as amended (the "Code"), in which case the Board
of Directors of the Company (the "Board of Directors"), or a committee appointed
by the Board of Directors which satisfies the requirements of such provisions
shall administer the Plan (and all applicable provisions of the Plan, including
any reference herein to the "Committee", shall be construed accordingly), the
Plan shall be administered by the Compensation Committee of the Board of
Directors (the "Committee"). The Committee shall select one of its members as
Chairman and shall make such rules and regulations as it shall deem appropriate
concerning the holding of its meetings and transaction of its business. Any
member of the Committee may be removed at any time either with or without cause
by resolution adopted by the Board of Directors, and any vacancy on the
Committee may at any time be filled by resolution adopted by the Board of
Directors.

      Subject to the express provisions of the Plan, the Committee shall have
plenary authority to interpret the Plan, to prescribe, amend and rescind the
rules and regulations relating to it and to make all other determinations deemed
necessary and advisable for the administration of the Plan. The determinations
of the Committee shall be conclusive.

      3. STOCK SUBJECT TO OPTIONS. Subject to the adjustment provisions of
Paragraph 13 below, a maximum of 71,750,000 shares of Common Stock may be made
subject to Options (as defined below) granted under the Plan. In addition,
subject to the adjustment provisions of Paragraph 13 below, no person may be
granted Options under the Plan during any of the Company's fiscal years with
respect to more than 500,000 shares of Common Stock.

      If, and to the extent that, Options granted under the Plan shall
terminate, expire or be canceled for any reason without having been exercised,
new Options may be granted in respect of the shares covered by such terminated,
expired or canceled Options. The granting and terms of such new Options shall
comply in all respects with the provisions of the Plan.

      Shares sold upon the exercise of any Option granted under the Plan may be
shares of authorized and unissued Common Stock, shares of issued Common Stock
held in the Company's treasury, or both.

      There shall be reserved at all times for sale under the Plan a number of
shares of Common Stock, of either authorized and unissued shares of Common
Stock, shares of Common Stock held in the Company's treasury, or both, equal to
the maximum number of shares that may be purchased pursuant to Options granted
or that may be granted under the Plan.

      4. GRANT OF OPTIONS. The Committee shall have the authority and
responsibility, within the limitations of the Plan, to determine the employees
and the non-employee directors to whom Options are to be granted, whether
Options granted to employees shall be "incentive stock options" ("Incentive
Options"), within the meaning of Section 422(b) of the Code, or Options which
are not Incentive Options ("Nonqualified Options" and together with Incentive
Options, "Options," individually, an "Option"), the number of shares that may be
purchased under each Option and the Option price.

      In determining the officers, key employees and non-employee directors to
whom Options shall be granted and the number of shares to be covered by each
such Option, the Committee shall take into consideration the individual's
present and potential contribution to the success of the Company and its
Subsidiaries (as defined below) and such other factors as the Committee may deem
proper and relevant.

      5. PERSONS ELIGIBLE. Incentive Options may be granted to any key employee
of the Company or any of its Subsidiaries. Nonqualified Options may be granted
to any key employee of the Company or any of its Subsidiaries or Affiliates and
to any non-employee director of the Company. Options may be granted to employees
and non-employee directors who hold or have held Options under this Plan or any
similar or other awards under any other plan of the Company or any of its
Subsidiaries or Affiliates. Employees who are also officers or directors of the
Company or any of its Subsidiaries or Affiliates shall not by reason of such
offices be ineligible as recipients of Options.

      For purposes of the Plan, a "Subsidiary" of the Company shall mean any
"subsidiary corporation" as such term is defined in Section 424(f) of the Code.
An entity shall be deemed a Subsidiary of the Company only for such periods as
the requisite ownership relationship is maintained.

      For purposes of the Plan, an "Affiliate" of the Company shall mean any
corporation, partnership, or other entity controlled by the Company.

      Any employee who would own, directly or indirectly, immediately after the
granting of an Option to such person, more than 10% of the total combined voting
power of all classes of stock of the Company or any of its Subsidiaries shall
only be eligible to receive an Incentive Option under the Plan if it satisfies
the requirements of Section 422(c)(5) of the Code.

      A person receiving an Option pursuant to the Plan is hereinafter referred
to as an "Optionee".

      6. PRICE. The exercise price of each share of Common Stock purchasable
under any Option granted pursuant to the Plan shall not be less than the Fair
Market Value (as defined below) thereof at the time the Option is granted. In no
event shall the Committee cause or permit, without the prior approval of the
Company's stockholders, any Options granted pursuant to the Plan to be repriced,
replaced, or re-granted through cancellation, or to otherwise lower the exercise
price of a previously granted Option.

      For purposes of the Plan, "Fair Market Value" of a share of Common Stock
means the average of the high and low sales prices of a share of Common Stock on
the New York Stock Exchange Composite Tape on the date in question. If shares of
Common Stock are not traded on the New York Stock Exchange on such date, "Fair
Market Value" of a share of Common Stock shall be determined by the Committee in
its sole discretion.

      7. DURATION OF OPTIONS. Options granted hereunder shall become
exercisable, in whole or in part, all as the Committee in its discretion may
provide upon the granting thereof.

      Notwithstanding any provision of the Plan to the contrary, except as
otherwise provided in the applicable award agreement, the unexercised portion of
any Option granted under the Plan shall automatically and without notice
terminate and become null and void at the time of the earliest to occur of the
following:

      (a) The expiration of 10 years (or, in the case of an Incentive Option,
five years, in the case of an Optionee described in Section 422(c)(5) of the
Code) from the date on which such Option was granted;

      (b) The expiration of 60 days (or such longer period as the Committee may
provide in the event of the Optionee's Permanent and Total Disability (as
defined in Section 22(a)(3) of the Code) from the date of termination of the
Optionee's employment or service with the Company or any of its Subsidiaries;
provided, however, that if the Optionee shall die during such 60-day period (or
such longer period as the Committee may provide in the event of the Optionee's
Permanent and Total Disability) the provisions of subparagraph (c) below shall
apply;

      (c) The expiration of six months after the appointment and qualification
of the executor or administrator of the Optionee's estate or 12 months after the
date of the Optionee's death, whichever occurs earlier, if such death occurs
either during employment by, or service with, the Company or any of its
Subsidiaries or during the 60-day period (or such longer period as the Committee
may provide in the event of the Optionee's Permanent and Total Disability)
following the date of termination of such employment or service; and

      (d) In whole or in part, at such earlier time or upon occurrence of such
earlier event as the Committee in its discretion may provide upon the granting
of such Option.

      The Committee may determine whether any given leave of absence constitutes
a termination of employment or service. Options granted under the Plan shall not
be affected by any change of employment or service so long as the Optionee
continues to be an employee of the Company or any of its Subsidiaries or
non-employee director of the Company.

      8. EXERCISE OF OPTIONS. Options shall be exercisable by the Optionee (or
the Optionee's executor or administrator), as to all or part of the shares
covered thereby, by the giving of written notice of the exercise thereof to the
Company at its principal business office, directed to the attention of its
Secretary. The Company shall cause certificates for the shares so purchased to
be delivered to the Optionee (or the Optionee's executor or administrator) at
the Company's principal business office, against payment in full of the purchase
price, which payment may be made by cash, check or money order and, subject to
the Committee's consent, by shares of the Company's Common Stock which are not
subject to any pledge or security interest and have been held for at least 6
months or previously acquired on the open market or by delivery to the Committee
of a copy of irrevocable instructions to a stockbroker to deliver promptly to
the Company any amount of loan proceeds or proceeds of the sale of the shares
subject to the Option sufficient to pay the exercise price on the date specified
in the notice of exercise. Notwithstanding the foregoing, shares of the
Company's Common Stock may not be used by Canadian Optionees to pay the exercise
price of the shares being purchased pursuant to the exercise of an Option.

      9. NONTRANSFERABILITY OF OPTIONS. No Option or any right evidenced thereby
shall be transferable in any manner other than by will or the laws of descent
and distribution, and, during the lifetime of an Optionee, only the Optionee (or
the Optionee's court-appointed legal representative) may exercise an Option.

      10. RIGHTS OF OPTIONEE. Neither the Optionee nor the Optionee's executor
or administrator shall have any of the rights of a stockholder of the Company
with respect to the shares subject to an Option until certificates for such
shares shall actually have been issued upon the due exercise of such Option. No
adjustment shall be made for any cash dividend or other right for which the
record date is prior to the date of such due exercise and full payment for such
shares has been made therefor.

      11. RIGHT TO TERMINATE EMPLOYMENT OR SERVICE. Nothing in the Plan or in
any Option shall confer upon any Optionee the right to continue in the
employment or service of the Company or any of its Subsidiaries or affect the
right of the Company or any of its Subsidiaries to terminate an Optionee's
employment at any time, subject, however, to the provisions of any agreement of
employment between the Company or any of its Subsidiaries and the Optionee.

      12. NONALIENATION OF BENEFITS. No right or benefit under the Plan shall be
subject to anticipation, alienation, sale, assignment, hypothecation, pledge,
exchange, transfer, encumbrance or charge, and any attempt to anticipate,
alienate, sell, assign, hypothecate, pledge, exchange, transfer, encumber or
charge the same shall be void. To the extent permitted by applicable law, no
right or benefit hereunder shall in any manner be liable for or subject to the
debts, contracts, liabilities or torts of the person entitled to such benefits.

      13. ADJUSTMENT UPON CHANGES IN CAPITALIZATION, ETC. In the event of any
stock split, stock dividend, stock change, reclassification, recapitalization or
combination of shares which changes the character or amount of Common Stock
prior to exercise of any portion of an Option theretofore granted under the
Plan, such Option, to the extent that it shall not have been exercised, shall
entitle the Optionee (or the Optionee's executor or administrator) upon its
exercise to receive in substitution such number and kind of shares as the
Optionee would be entitled to receive if the Optionee had actually owned the
stock subject to such Option at the time of the occurrence of such change and
the Options shall be subject to such adjustments, as determined by the
Committee, as to the number, price or kind of stock as determined to be
equitable; provided, however, that if the change is of such a nature that the
Optionee, upon exercise of the Option, would receive property other than shares
of stock, then the Committee shall make an appropriate adjustment in the Option
to provide that the Optionee (or the Optionee's executor or administrator) shall
acquire upon exercise only shares of stock of such number and kind as the
Committee, in its sole judgment, shall deem equitable; and, provided further,
that any such adjustment shall be made so as to conform to the requirements of
Section 424(a) or 162(m) of the Code and the regulations promulgated thereunder.
The Committee shall also make appropriate adjustment in the number of shares
subject to Options under the Plan and the maximum number of shares to be granted
to any person in any fiscal year as determined to be equitable.

      In the event that any transaction (other than a change specified in the
preceding paragraph) described in Section 424(a) of the Code affects the Common
Stock subject to any unexercised Option, the Board of the surviving or acquiring
corporation shall make such similar adjustment as is permissible and
appropriate.

      If any such change or transaction shall occur, the number and kind of
shares for which Options may thereafter be granted under the Plan shall be
adjusted to give effect thereto.

      14. PURCHASE FOR INVESTMENT. Whether or not the Options and shares covered
by the Plan have been registered under the Securities Act of 1933, as amended,
each person exercising an Option under the Plan may be required by the Company
to give a representation in writing that such person is acquiring such shares
for investment and not with a view to, or for sale in connection with, the
distribution of any part thereof.

      The Company will endorse any necessary legend referring to the foregoing
restriction upon the certificate or certificates representing any shares issued
or transferred to the Optionee upon the exercise of any Option granted under the
Plan.

      15. FORM OF AGREEMENTS WITH OPTIONEES. Each Option granted pursuant to the
Plan shall be in writing and shall have such form, terms and provisions, not
inconsistent with the provisions of the Plan, as the Committee shall provide for
such Option. Each Optionee shall be notified promptly of such grant, and a
written agreement shall be promptly executed and delivered by the Company and
the Optionee.

      16. TERMINATION AND AMENDMENT OF PLAN AND OPTIONS. Unless the Plan shall
theretofore have been terminated as hereinafter provided, Options may be granted
under the Plan at any time, and from time to time, prior to the tenth
anniversary of the Effective Date (as defined below), on which date the Plan
will expire, except as to Options then outstanding under the Plan. Such Options
shall remain in effect until they have been exercised, have expired or have been
canceled.

      The Plan may be terminated or modified at any time by the Board of
Directors; provided, however, that any such modification shall comply with all
applicable laws, applicable stock exchange listing requirements, and applicable
requirements for exemption (to the extent necessary) under Rule 16b-3 under the
Exchange Act.

      No termination, modification or amendment of the Plan, without the consent
of the Optionee, may adversely affect the rights of such person with respect to
such Option. With the consent of an Optionee and subject to the terms and
conditions of the Plan, the Committee may amend outstanding award agreements
with such Optionee.

      17. EFFECTIVE DATE OF PLAN. The Plan originally became effective on August
10, 1999, the date of its adoption by the Board of Directors (the "Effective
Date").

      18. GOVERNMENT AND OTHER REGULATIONS. The obligation of the Company with
respect to Options granted under the Plan shall be subject to all applicable
laws, rules and regulations and such approvals by any governmental agency as may
be required, including, without limitation, the effectiveness of any
registration statement required under the Securities Act of 1933, as amended,
and the rules and regulations of any securities exchange on which the Common
Stock may be listed.

      19. WITHHOLDING. The Company's obligation to deliver shares of Common
Stock in respect of any Option granted under the Plan shall be subject to all
applicable federal, state, local and foreign tax withholding requirements.
Federal, state, local and foreign withholding taxes due upon the exercise of any
Option (or upon any disqualifying disposition of shares of Common Stock subject
to an Incentive Option), in the Committee's sole discretion, may be paid in
shares of Common Stock (including the withholding of shares subject to an
Option) upon such terms and conditions as the Committee may determine.
Notwithstanding the foregoing, shares of the Company's Common Stock may not be
used by Canadian Optionees to pay any taxes due upon the exercise of any Option.

      20. SEPARABILITY. If any of the terms or provisions of the Plan conflict
with the requirements of Rule 16b-3 under the Exchange Act and/or Section 422 of
the Code, then such terms or provisions shall be deemed inoperative to the
extent they so conflict with the requirements of Rule 16b-3 under the Exchange
Act and/or Section 422 of the Code. With respect to Incentive Options, if the
Plan does not contain any provision required to be included herein under Section
422 of the Code, such provision shall be deemed to be incorporated herein with
the same force and effect as if such provision had been set out at length
herein; provided, further, that to the extent any Option which is intended to
qualify as an Incentive Option cannot so qualify such Option, to the extent,
shall be deemed to be a Nonqualified Option for all purposes of the Plan.

      21. NON-EXCLUSIVITY OF THE PLAN. Neither the adoption of the Plan by the
Board of Directors nor the submission of the Plan to the stockholders of the
Company for approval shall be construed as creating any limitation on the power
of the Board of Directors to adopt such other incentive arrangements as it may
deem desirable, including, without limitation, the granting of stock options and
the awarding of stock and cash otherwise than under the Plan, and such
arrangements may be either generally applicable or applicable only in specific
cases.

      22. EXCLUSION FROM PENSION AND PROFIT-SHARING COMPUTATION. By acceptance
of an Option, each Optionee shall be deemed to have agreed that such grant is
special incentive compensation that will not be taken into account, in any
manner, as salary, compensation or bonus in determining the amount of any
payment under any pension, retirement or other employee benefit plan of the
Company or any of its Subsidiaries. In addition, each beneficiary of a deceased
Optionee shall be deemed to have agreed that such Option will not affect the
amount of any life insurance coverage, if any, provided by the Company on the
life of the Optionee which is payable to such beneficiary under any life
insurance plan covering employees of the Company or any of its Subsidiaries.

      23. GOVERNING LAW. The Plan shall be governed by, and construed in
accordance with, the laws of the State of New Jersey.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00077-of-00352.parquet"}]]