Document:

Exhibit 10-O

SHOE CARNIVAL, INC.
 2000 STOCK OPTION AND INCENTIVE PLAN

          1.          Plan Purpose.  The purpose of the Plan is to promote the long-term interests of the Company and its shareholders by providing a means for attracting and retaining Directors and officers and key employees of the Company and its Affiliates.

          2.          Definitions.  The following definitions are applicable to the Plan:

          “Affiliate” -- means any “parent corporation” or “subsidiary corporation” of the Company as such terms are defined in Section 424(e) and (f), respectively, of the Code.

          “Annual Return To Shareholders” -- means the Company’s return to shareholders as represented by share price appreciation plus dividends paid on one share of stock during any Year during a Restricted Period.

          “Award” -- means the grant by the Committee of an Incentive Stock Option, a Non-Qualified Stock Option, or Restricted Stock, or any combination thereof, as provided in the Plan.

          “Board” -- means the Board of Directors of the Company.

          “Business Criteria” -- means any one or any combination of Annual Return to Shareholders, Total Net Sales, Net Earnings, Net Earnings before Nonrecurring Items, Return on Equity, Return on Assets, EPS, EBITDA or EBITDA before Nonrecurring Items, in each case during any Year during a Restricted Period.

          “Change in Control” -- means each of the events specified in the following clauses (i) through (iii):  (i) any third person,  including a “group” as defined in Section 13(d)(3) of the Exchange Act shall, after the date of the adoption of the Plan by the Board, first become the beneficial owner of shares of the Company with respect to which 25% or more of the total number of votes for the election of the Board of Directors of the Company may be cast, (ii) as a result of, or in connection with, any cash tender offer, exchange offer, merger or other business combination, sale of assets or contested election, or combination of the foregoing, the persons who were directors of the Company shall cease to constitute a majority of the Board of Directors of the Company or (iii) the stockholders of the Company shall approve an agreement providing either for a
transaction in which the Company will cease to be an independent publicly owned entity or for a sale or other disposition of all or substantially all the assets of the Company; provided, however, that the occurrence of any of such events shall not be deemed a Change in Control if, prior to such occurrence, a resolution specifically providing that such occurrence shall not constitute a Change in Control under the Plan shall have been adopted by at least a majority of the Board of Directors of the Company.

          “Code” -- means the Internal Revenue Code of 1986, as amended.

          “Committee” -- means the Committee referred to in Section 3 hereof.

          “Company” -- means Shoe Carnival, Inc., an Indiana corporation.

          “Continuous Service” -- means the absence of any interruption or termination of service as a Director or an employee of the Company or an Affiliate.  Service shall not be considered interrupted in the case of sick leave, military leave or any other leave of absence approved by the Company or in the case of any transfer between the Company and an Affiliate or any successor to the Company.

          “Director” -- means any person who serves as a member of the Board.

          “EBITDA” for any Year means -- the consolidated earnings before interest, taxes, depreciation and amortization of the Company as reflected in the Company’s audited consolidated financial statements for the Year.

          “EBITDA before Nonrecurring Items” means -- for any Year EBITDA of the Company before any extraordinary or unusual one-time nonrecurring expenses or other charges as reflected in the Company’s audited consolidated financial statements for the Year.

          “Employee” -- means any person, including an officer or Director, who is employed by the Company or any Affiliate.

          “EPS” for any Year means -- diluted earnings per share of the Company, as reported in the Company’s audited consolidated financial statements for the Year.

          “Exchange Act” -- means the Securities Exchange Act of 1934, as amended.

          “Exercise Price” -- means the price per Share at which the Shares subject to an Option may be purchased upon exercise of such Option.

          “Incentive Stock Option” -- means an option to purchase Shares granted by the Committee pursuant to the terms of the Plan which is intended to qualify under Section 422 of the Code.

          “Market Value” -- means the last reported sale price on the date in question (or, if there is no reported sale on such date, on the last preceding date on which any reported sale occurred) of one Share on the principal exchange on which the Shares are listed for trading, or if the Shares are not listed for trading on any exchange, on the NASDAQ National Market System or any similar system then in use, or, if the Shares are not listed on the NASDAQ National Market System, the mean between the closing high bid and low asked quotations of one Share on the date in question as reported by NASDAQ or any similar system then in use, or, if no such quotations are available, the fair market value on such date of one Share as the Committee shall determine.

          “Net Earnings” for any Year means -- the consolidated net earnings of the Company, as reported in the Company’s audited consolidated financial statements for the Year.

          “Net Earnings before Nonrecurring Items” means -- for any Year the Net Earnings of the Company before any extraordinary or unusual one-time nonrecurring expenses or other charges as reflected in the Company’s audited consolidated financial statements for the Year.

          “Non-Qualified Stock Option” -- means an option to purchase Shares granted by the Committee pursuant to the terms of the Plan, which option is not intended to qualify under Section 422 of the Code.

          “Option” -- means an Incentive Stock Option or a Non-Qualified Stock Option.

          “Participant” -- means any Director or any officer or key employee of the Company or any Affiliate who is selected by the Committee to receive an Award.

          “Performance Target(s)” -- means the specific objective goal or goals (which may be cumulative and/or alternative) that are timely set forth in writing by the Committee for each Employee for the Restricted Period in respect of any one or more of the Business Criteria.

          “Plan” -- means this 2000 Stock Option and Incentive Plan of the Company.

          “Reorganization” -- means the liquidation or dissolution of the Company or any merger, consolidation or combination of the Company (other than a merger, consolidation or combination in which the Company is the continuing entity and which does not result in the outstanding Shares being converted into or exchanged for different securities, cash or other property or any combination thereof).

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          “Restricted Period” -- means the period of time selected by the Committee for the purpose of determining when restrictions are in effect under Section 9 hereof with respect to Restricted Stock awarded under the Plan.

          “Restricted Stock” -- means Shares which have been contingently awarded to a Participant by the Committee subject to the restrictions referred to in Section 9 hereof, so long as such restrictions are in effect.

          “Return on Assets” for any Year means -- Net Earnings (as reported in the Company’s audited consolidated financial statements for the Year) divided by the average of the total assets of the Company at the end of the fiscal quarters of the Year.

          “Return on Equity” for any Year means -- the Net Earnings (as reported in the Company’s audited consolidated financial statements for the Year) divided by the shareholders equity of the Company at the beginning of each Year.

          “Securities Act” -- means the Securities Act of 1933, as amended.

         ”Shares” -- means the Common Stock, $.01 par value, of the Company.

          “Total Net Sales” for any Year -- means the Company’s total net sales as reported in the Company’s consolidated audited financial statements for the Year.

          “Year” -- means any one or more fiscal years of the Company commencing on or after January 30, 2000 that represent(s) the applicable Restricted Period.

          3.          Administration.  The Plan shall be administered by the Committee, which shall consist of two or more members of the Board, each of whom shall be a “non-employee director” as provided under Rule 16b-3 of the Exchange Act, and an “outside director” as provided under Code Section 162(m).  The members of the Committee shall be appointed by the Board.  Except as limited by the express provisions of the Plan, the Committee shall have sole and complete authority and discretion to (a) select Participants and grant Awards; (b) determine the number of Shares to be subject to types of Awards generally, as well as to individual Awards granted under the Plan; (c) determine the terms and conditions upon which Awards shall be granted under the Plan; (d) prescribe the form and terms of
instruments evidencing such grants; (e) establish procedures and regulations for the administration of the Plan; (f) interpret the Plan; and (g) make all determinations deemed necessary or advisable for the administration of the Plan.

          A majority of the Committee shall constitute a quorum, and the acts of a majority of the members present at any meeting at which a quorum is present, or acts approved in writing by all members of the Committee without a meeting, shall be acts of the Committee.  All determinations and decisions made by the Committee pursuant to the provisions of the Plan shall be final, conclusive and binding on all persons, and shall be given the maximum deference permitted by law.

          4.          Participants.  The Committee may select from time to time Participants in the Plan from those Directors and officers and key employees of the Company or its Affiliates who, in the opinion of the Committee, have the capacity for contributing in a substantial measure to the successful performance of the Company or its Affiliates.

          5.          Shares Subject to Plan.  Subject to adjustment by the operation of Section 10 hereof, the maximum number of Shares with respect to which Awards may be made under the Plan is 1,500,000 Shares.  The number of Shares which may be granted under the Plan to any Participant during any calendar year of the Plan under all forms of Awards shall not exceed 300,000 Shares.  The Shares with respect to which Awards may be made under the Plan may either be authorized and unissued shares or unissued shares heretofore or hereafter reacquired and held as treasury shares.  With respect to any Option which terminates or is surrendered for cancellation or with respect to Restricted Stock which is forfeited, new Awards may be granted under the Plan with respect to the number of Shares as to which such termination or forfeiture
has occurred.

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          6.          General Terms and Conditions of Options.  The Committee shall have full and complete authority and discretion, except as expressly limited by the Plan, to grant Options and to provide the terms and conditions (which need not be identical among Participants) thereof.  In particular, the Committee shall prescribe the following terms and conditions:  (i) the Exercise Price (which shall not be less than the Market Value per Share on the date the Option is granted), (ii) the number of Shares subject to, and the expiration date of, any Option, (iii) the manner, time and rate (cumulative or otherwise) of exercise of such Option, and (iv) the restrictions, if any, to be placed upon such Option or upon Shares which may be issued upon exercise of such Option.

          7.          Exercise of Options.

	
  
 
  	
  
(a)       Except as   provided in Section 13, an Option granted under the Plan shall be   exercisable during the lifetime of the Participant to whom such Option was   granted only by such Participant, and except as provided in   paragraphs (c), (d) and (e) of this Section 7, no such Option may   be exercised unless at the time such Participant exercises such Option, such   Participant has maintained Continuous Service since the date of the grant of   such Option.
  
	
  
 
  	
  
 
  
	
   
  	
  
(b)       To exercise   an Option under the Plan, the Participant must give written notice to the   Company specifying the number of Shares with respect to which such   Participant elects to exercise such Option together with full payment of the   Exercise Price.  The date of exercise   shall be the date on which such notice is received by the Company.  Payment may be made either (i) in   cash (including check, bank draft or money order), (ii) by tendering   Shares already owned by the Participant and having a Market Value on the date   of exercise equal to the Exercise Price, or (iii) by any other means   determined by the Committee in its sole discretion, including permitting a   Participant to elect to pay the Exercise Price upon the exercise of an Option   by authorizing a third party to sell the Shares (or a sufficient portion of   the Shares) acquired upon exercise of the Option and remit to the Company
a   sufficient portion of the sale proceeds to pay the Exercise Price and any tax   withholding resulting from such exercise.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
(c)       If the   Continuous Service of a Participant is terminated for cause, or voluntarily   by the Participant for any reason other than death, disability or retirement,   all rights under any Options granted to such Participant shall terminate   immediately upon such Participant’s cessation of Continuous Service, and the   Participant shall (unless the Committee in its sole discretion waives this   requirement) repay to the Company within 10 days the amount of any gain realized   by the Participant upon any exercise within the 90-day period prior to the   cessation of Continuous Service of any Options granted to such Participant   under the Plan.  If the Continuous   Service of a Participant is terminated by reason of death, disability or   retirement, such Participant may exercise such Option, but only to the extent   such Participant was entitled to exercise such Option at the date of such   cessation, at any time
during the remaining term of such Option, or, in the   case of Incentive Stock Options, during such shorter period as the Committee   may determine and so provide in the applicable instrument or instruments   evidencing the grant of such Option.    If a Participant shall cease to maintain Continuous Service for any   reason other than those set forth above in this paragraph (c) of this   Section 7, such Participant may exercise such Option to the extent that   such Participant was entitled to exercise such Option at the date of such   cessation but only within 90 days immediately succeeding such cessation of   Continuous Service, and in no event after the expiration date of the subject   Option; provided, however, that such right of exercise after cessation of   Continuous Service shall not be available to a Participant if the Company   otherwise determines and so provides in the applicable instrument or   instruments evidencing the grant of such Option.
  

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(d)       In the event   of the death of a Participant while in the Continuous Service of the Company   or an Affiliate, the person to whom any Option held by the Participant at the   time of his death is transferred by will or by the laws of descent and   distribution may exercise such Option on the same terms and conditions that   such Participant was entitled to exercise such Option.  At the time of the death of the   Participant, all Options theretofore granted to the Participant and not fully   exercisable shall terminate. Following the death of any Participant to whom   an Option was granted under the Plan, the Committee, as an alternative means of   settlement of such Option, may elect to pay to the person to whom such Option   is transferred the amount by which the Market Value per Share on the date of   exercise of such Option shall exceed the Exercise Price of such Option,   multiplied by the number of Shares with
respect to which such Option is   properly exercised.  Any such   settlement of an Option shall be considered an exercise of such Option for   all purposes of the Plan.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
(e)         Notwithstanding the provisions of the   foregoing paragraphs of this Section 7, the Committee may, in its sole   discretion, establish different terms and conditions pertaining to the effect   of the cessation of Continuous Service, to the extent permitted by applicable   federal and state law.
  

          8.          Incentive Stock Options.  Incentive Stock Options may be granted only to Participants who are Employees.  Any provisions of the Plan to the contrary notwithstanding, (i) no Incentive Stock Option shall be granted more than ten years from the date the Plan is adopted by the Board of Directors of the Company and no Incentive Stock Option shall be exercisable more than ten years from the date such Incentive Stock Option is granted, (ii) the Exercise Price of any Incentive Stock Option shall not be less than the Market Value per Share on the date such Incentive Stock Option is granted, (iii) any Incentive Stock Option shall not be transferable by the Participant to whom such Incentive Stock Option is granted other than by will or the laws of descent and distribution and shall be exercisable during such
Participant’s lifetime only by such Participant, and (iv) no Incentive Stock Option shall be granted which would permit a Participant to acquire, through the exercise of Incentive Stock Options in any calendar year, Shares or shares of any capital stock of the Company or any Affiliate thereof having an aggregate Market Value (determined as of the time any Incentive Stock Option is granted) in excess of $100,000.  The foregoing limitation shall be determined by assuming that the Participant will exercise each Incentive Stock Option on the date that such Option first becomes exercisable.  Notwithstanding the foregoing, in the case of any Participant who, at the date of grant, owns stock possessing more than 10% of the total combined voting power of all classes of capital stock of the Company or any Affiliate, the Exercise Price of any Incentive Stock Option shall not be less than 110% of the Market Value per Share on the date such Incentive Stock Option is granted and such Incentive
Stock Option shall not be exercisable more than five years from the date such Incentive Stock Option is granted.  Notwithstanding any other provisions of this Plan, if for any reason any Option granted under this Plan that is intended to be an Incentive Stock Option shall fail to qualify as an Incentive Stock Option, such Option shall be deemed to be a Non-Qualified Stock Option, and such Option shall be deemed to be fully authorized and validly issued under this Plan.

          9.          Terms and Conditions of Restricted Stock.  The Committee shall have full and complete authority, subject to the limitations of the Plan, to grant awards of Restricted Stock and, in addition to the terms and conditions contained in paragraphs (a) through (g) of this Section 9, to provide such other terms and conditions (which need not be identical among Participants) in respect of such Awards, and the vesting thereof, as the Committee shall determine and provide in the agreement referred to in paragraph (d) of this Section 9.  Notwithstanding any other provisions of this Plan, the Committee shall have full and complete discretion, at the time of the grant of an award of Restricted Stock, to determine whether or not the grant of Restricted Stock is intended to qualify as “performance-based compensation” under
Section 162(m) of the Code.

	
  
 
  	
  
(a)       At the time   of an award of Restricted Stock, the Committee shall establish for each   Participant a Restricted Period during which or at the expiration of which,   the Shares of Restricted Stock shall vest.    The Committee may also restrict or prohibit the sale, assignment,   transfer, pledge or other encumbrance of the Shares of Restricted Stock by   the Participant during the Restricted Period.  Except for such restrictions, and subject to paragraphs (c),   (d) and (e) of this
  

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Section 9 and Section 10 hereof, the Participant as   owner of such Shares shall have all the rights of a stockholder, including   but not limited to, the right to receive all dividends paid on such Shares   and the right to vote such Shares.    Except in the case of grants of Restricted Stock which are intended to   qualify as “performance-based compensation” under Section 162(m) of the   Code, the Committee shall have the authority, in its discretion, to accelerate   the time at which any or all of the restrictions shall lapse with respect to   any Shares of Restricted Stock prior to the expiration of the Restricted   Period with respect thereto, or to remove any or all of such restrictions,   whenever it may determine that such action is appropriate by reason of   changes in applicable tax or other laws or other changes in circumstances   occurring after the commencement of such Restricted Period.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
(b)       Except as   provided in Section 12 hereof, if a Participant ceases to maintain Continuous   Service for any reason (other than death, total or partial disability or   retirement) unless the Committee shall otherwise determine, all Shares of   Restricted Stock theretofore awarded to such Participant and which at the time   of such termination of Continuous Service are subject to the restrictions   imposed by paragraph (a) of this Section 9 shall upon such termination of   Continuous Service be forfeited and returned to the Company.  If a Participant ceases to maintain   Continuous Service by reason of death or total or partial disability, then   the restrictions with respect to the Ratable Portion of the Shares of   Restricted Stock shall lapse and such Shares shall be free of restrictions   and shall not be forfeited.  The   Ratable Portion shall be determined with respect to each separate Award of   Restricted
Stock issued and shall be equal to (i) the number of Shares of   Restricted Stock awarded to the Participant multiplied by the portion of the   Restricted Period that expired at the date of the Participant’s death or   total or partial disability reduced by (ii) the number of Shares of   Restricted Stock awarded with respect to which the restrictions had lapsed as   of the date of the death or total or partial disability of the Participant.
  
	
   
  	
  
 
  
	
  
 
  	
  
(c)       Each   certificate issued in respect of Shares of Restricted Stock awarded under the   Plan shall be registered in the name of the Participant and deposited by the   Participant, together with a stock power endorsed in blank, with the Company   and shall bear the following (or a similar) legend:
  
	
  
 
  	
  
 
  
	
  
 
  	
  
“The transferability of this certificate and the   shares of stock represented hereby are subject to the terms and conditions   (including forfeiture) contained in the 2000 Stock Option and Incentive Plan   of Shoe Carnival, Inc., and an Agreement entered into between the registered   owner and Shoe Carnival, Inc.  Copies   of such Plan and Agreement are on file in the office of the Secretary of Shoe   Carnival, Inc.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
(d)       At the time   of an award of Shares of Restricted Stock, the Participant shall enter into   an Agreement with the Company in a form specified by the Committee, agreeing   to the terms and conditions of the award and to such other matters as the   Committee shall in its sole discretion determine.
  
	
  
 
  	
  
 
  
	
   
  	
  
(e)       At the time   of an award of Shares of Restricted Stock, the Committee may, in its   discretion, determine that the payment to the Participant of dividends   declared or paid on such Shares by the Company or a specified portion   thereof, shall be deferred until the earlier to occur of (i) the lapsing of   the restrictions imposed under paragraph (a) of this Section 9 or (ii) the   forfeiture of such Shares under paragraph (b) of this Section 9, and shall be   held by the Company for the account of the Participant until such time.  In the event of such deferral, there shall   be credited at the end of each year (or portion thereof) interest on the   amount of the account at the beginning of the year at a rate per annum as the   Committee, in its discretion, may determine.    Payment of deferred dividends, together with interest accrued thereon   as aforesaid, shall be made upon the earlier to occur of the events
specified   in (i) and (ii) of the first sentence of this paragraph (e).
  
	
  
 
  	
  
 
  
	
  
 
  	
  
(f)       At
the expiration of the restrictions imposed by paragraph (a) of this Section 9,
the Company shall redeliver to the Participant (or where the relevant provision
of paragraph (b) of this Section 9 applies in the case of a deceased
Participant, to his legal representative, beneficiary or heir) the
certificate(s) and stock power deposited with it pursuant to paragraph (c) of
this Section 9 and the
 

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Shares represented by such   certificate(s) shall be free of the restrictions referred to in paragraph (a)   of this Section 9.  Notwithstanding   any other provision of this Section 9 and Section 11 to the   contrary, in the case of grants of Restricted Stock that are intended to   qualify as “performance-based compensation” under Section 162(m) of the   Code, no Shares of Restricted Stock shall become vested unless the Performance   Targets with respect to such Restricted Stock shall have been satisfied and   unless the Committee has certified, by resolution or other appropriate action   in writing, that the Performance Targets previously established by the   Committee have been satisfied.  If the   vesting of Shares of Restricted Stock is accelerated after the applicable   Performance Targets have been met, the amount of Restricted Stock distributed   shall be
discounted by the Committee to reasonably reflect the time value of   money in connection with such early vesting.
  
	
  
 
  	
  
 
  
	
  
 
  	
  
(g)         Notwithstanding any other provision of   this Section 9 to the contrary, for purposes of qualifying grants of   Restricted Stock as “performance-based compensation” under   Section 162(m) of the Code, the Committee shall establish restrictions   based upon the achievement of Performance Targets.  The specific goal or goals under the Performance Targets that   must be satisfied for the Restricted Period to lapse or terminate shall be   set by the Committee on or before the latest date permissible to enable the   Restricted Stock to qualify as “performance-based compensation” under   Section 162(m) of the Code.  The   Business Criteria for Performance Targets under this Section 9 shall be   any one or any combination of Annual Return to Shareholders, Total Net Sales,   Net Earnings, Net Earnings before Nonrecurring Items, Return on Equity,   Return on Assets, EPS, EBITDA or
EBITDA before Nonrecurring Items.  In granting Restricted Stock that is   intended to qualify under Section 162(m), the Committee shall follow any   procedures determined by it in its sole discretion from time to time to be   necessary, advisable or appropriate to ensure qualification of the Restricted   Stock under Section 162(m) of the Code.
  

          10.          Adjustments Upon Changes in Capitalization.  In the event of any change in the outstanding Shares subsequent to the effective date of the Plan by reason of any reorganization, recapitalization, stock split, stock dividend, combination or exchange of shares, merger, consolidation or any change in the corporate structure or Shares of the Company, the maximum aggregate number and class of shares as to which Awards may be granted under the Plan and the number and class of shares with respect to which Awards theretofore have been granted under the Plan shall be appropriately adjusted by the Committee, whose determination shall be conclusive.  Any shares of stock or other securities received, as a result of any of the foregoing, by a Participant with respect to Restricted Stock shall be subject to the same restrictions and
the certificate(s) or other instruments representing or evidencing such shares or securities shall be legended and deposited with the Company in the manner provided in Section 9 hereof.

          11.          Effect of Reorganization.

          Awards will be affected by a Reorganization as follows:

	
  
 
  	
  
(a)       If the   Reorganization is a dissolution or liquidation of the Company then   (i) the restrictions of Section 9(a) on Shares of Restricted Stock   shall lapse and (ii) each outstanding Option shall terminate, but each   Participant to whom the Option was granted shall have the right, immediately   prior to such dissolution or liquidation to exercise his Option in full,   notwithstanding the provisions of Section 8, and the Company shall   notify each Participant of such right within a reasonable period of time   prior to any such dissolution or liquidation.
  
	
   
  	
  
 
  
	
  
 
  	
  
(b)       If the   Reorganization is a merger or consolidation, upon the effective date of such   Reorganization (i) each Optionee shall be entitled, upon exercise of his   Option in accordance with all of the terms and conditions of the Plan, to   receive in lieu of Shares, shares of such stock or other securities or   consideration as the holders of Shares shall be entitled to receive pursuant   to the terms of the Reorganization; and (ii) each holder of Restricted   Stock shall receive shares of such stock or other securities as the holders   of Shares received and the certificate(s) or other instruments representing   or evidencing such shares or securities shall be legended and deposited with   the Company in the manner provided in Section 9 hereof.
  

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The adjustments contained in this Section and the   manner of application of such provisions shall be determined solely by the   Committee.
  

          12.          Effect of Change of Control.  If the Continuous Service of any Participant of the Company or any Affiliate is involuntarily terminated, for whatever reason, at any time within eighteen months after a Change in Control, unless the Committee shall have otherwise provided in the agreement referred to in paragraph (d) of Section 9 hereof, any Restricted Period with respect to Restricted Stock theretofore awarded to such Participant shall lapse upon such termination and all Shares awarded as Restricted Stock shall become fully vested in the Participant to whom such Shares were awarded.  If a tender offer or exchange offer for Shares (other than such an offer by the Company) is commenced, or if an event specified in clause (ii) or clause (iii) of the definition of a Change in Control contained in Section 2
shall occur, unless the Committee shall have otherwise provided in the instrument evidencing the grant of an Option, all Options theretofore granted and not fully exercisable shall become exercisable in full upon the happening of such event and shall remain so exercisable in accordance with their terms; provided, however, that no Option which has previously been exercised or otherwise terminated shall become exercisable.

          13.          Assignments and Transfers.  Except as otherwise determined by the Committee, no Award nor any right or interest of a Participant under the Plan in any instrument evidencing any Award under the Plan may be assigned, encumbered or transferred except, in the event of the death of a Participant, by will or the laws of descent and distribution.

          14.          Employee Rights Under the Plan.  No Director, officer, employee or other person shall have a right to be selected as a Participant nor, having been so selected, to be selected again as a Participant and no Director, officer, employee or other person shall have any claim or right to be granted an Award under the Plan or under any other incentive or similar plan of the Company or any Affiliate.  Neither the Plan nor any action taken thereunder shall be construed as giving any employee any right to be retained in the employ of the Company or any Affiliate.

          15.          Delivery
and Registration of Stock.  The Company’s obligation to
deliver Shares with respect to an Award shall, if the Committee so requests, be
conditioned upon the receipt of a representation as to the investment intention
of the Participant to whom such Shares are to be delivered, in such form as the
Company shall determine to be necessary or advisable to comply with the
provisions of the Securities Act or any other applicable federal or state
securities legislation.  It may be provided that any representation
requirement shall become inoperative upon a registration of the Shares or other
action eliminating the necessity of such representation under the Securities Act
or other securities legislation.  The Company shall not be required to
deliver any Shares under the Plan prior to (i) the admission of such shares
to listing on any stock exchange or system on which Shares may then be listed,
and (ii) the completion of such registration or other qualification of such
Shares under any state or federal law, rule or regulation, as the Company shall
determine to be necessary or advisable.

          16.          Withholding
Tax.  Upon the termination of the Restricted Period with respect to
any Shares of Restricted Stock (or at any such earlier time, if any, that an
election is made by the Participant under Section 83(b) of the Code, or any
successor provision thereto, to include the value of such Shares in taxable
income), the Company may, in lieu of requiring the Participant or other person
receiving such Shares to pay the Company the amount of any taxes which the
Company is required to withhold with respect to such Shares, retain a sufficient
number of Shares held by it to cover the amount required to be withheld. 
The Company shall have the right to deduct from all dividends paid with respect
to Shares of Restricted Stock the amount of any taxes which the Company is
required to withhold with respect to such dividend payments.

          Where a Participant or other person is entitled to receive Shares pursuant to the exercise of an Option pursuant to the Plan, the Company may, in lieu of requiring the Participant or such other person to pay the Company the amount of any taxes which the Company is required to withhold with respect to such Shares, retain a number of such Shares sufficient to cover the amount required to be withheld.

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          17.          Termination, Amendment and Modification of Plan.  The Board may at any time terminate, and may at any time and from time to time and in any respect amend or modify, the Plan; provided however, that to the extent necessary and desirable to comply with Section 422 of the Code (or any other applicable law or regulation, including requirements of any stock exchange or Nasdaq system on which the Shares are listed or quoted) shareholder approval of any Plan amendment shall be obtained in such a manner and to such a degree as is required by the applicable law or regulation; and provided further, that no termination, amendment or modification of the Plan shall in any manner affect any Award theretofore granted pursuant to the Plan without the consent of the Participant to whom the Award was granted or transferee of the Award.

          18.          Section 162(m) Conditions; Bifurcation of Plan.  It is the intent of the Company that the Plan and certain of the Awards granted hereunder satisfy and be interpreted in a manner that, in the case of Participants who are or may be persons whose compensation is subject to Section 162(m), satisfies any applicable requirements as performance-based compensation.  Any provision, application or interpretation of the Plan inconsistent with this intent to satisfy the standards in Section 162(m) of the Code shall be disregarded.  Notwithstanding anything to the contrary in the Plan, the provisions of the Plan may at any time be bifurcated by the Board of Directors of the Company or the Committee in any manner so that certain provision of the Plan or any Award intended (or required in order) to satisfy the applicable
requirements of Section 162(m) are only applicable to persons whose compensation is subject to Section 162(m).

         19.          Effective Date and Term of Plan.  The Plan shall become effective upon its adoption by the Board of Directors and shareholders of the Company.  Unless sooner terminated under Section 17 hereof, no further Awards may be made under the Plan after ten years from the date of adoption.

Adopted by the Board of Directors  
 of Shoe Carnival, Inc. as of May 1, 2000

Adopted by the Shareholders of
 Shoe Carnival, Inc. as of June 8, 2000

Amended by the Board of Directors of Shoe Carnival, Inc.
 as of March 10, 2004 and by the Shareholders of Shoe Carnival, Inc.
 as of June 11, 2004.

Amended by the Board of Directors of Shoe Carnival, Inc.
 as of March 25, 2005 and by the Shareholders of Shoe Carnival, Inc.
 as of June 14, 2005.

9EXHIBIT 10.1

                         NATIONAL PARKING SYSTEMS, INC.
             2005 STOCK OPTION, SAR AND STOCK BONUS CONSULTANT PLAN

                                    ARTICLE 1

                               GENERAL PROVISIONS

1.1  PURPOSE.  The  purpose  of  the  National  Parking Systems, Inc. 2005 Stock
Option,  SAR  and  Stock Bonus Consultant Plan (the Plan) shall be to retain and
compensate  independent  consultants  (the  "Participants")  of National Parking
Systems,  Inc.  (the "Company") and its subsidiaries, if any, by way of granting
(i)  non-qualified  stock  options  ("Stock  Options"), (ii) non-qualified stock
options with stock appreciation rights attached ("Stock Option SARs"), and (iii)
stock bonuses. Directors, officers and employees of the Company are not eligible
to  participate  in  this Plan. In addition, no person shall be a Participant in
this  Plan  in consideration for consulting or other services related to capital
raising  activities for the Company or related to any stock promotion activities
for  the  Company. For the purpose of this Plan, Stock Option SARs are sometimes
collectively  herein  called  "SARs;" and Stock Options. The Stock Options to be
granted  are  intended  to  be  "non-qualified  stock  options"  as described in
Sections 83 and 421 of the Code. Furthermore, under the Plan, the terms "parent"
and "subsidiary" shall have the same meaning as set forth in Subsections (e) and
(f)  of  Section  425 of the Code unless the context herein clearly indicates to
the  contrary.

1.2  GENERAL.  The terms and provisions of this Article I shall be applicable to
Stock  Options  and  SARs  unless  the  context  herein clearly indicates to the
contrary.

1.3 ADMINISTRATION OF THE PLAN. The Plan shall be administered by the Stock Plan
Committee  (the  "Commit-tee") appointed by the Board of Directors (the "Board")
of the Company and consisting of at least one member from the Board. The members
of  the  Committee shall serve at the pleasure of the Board. The Committee shall
have  the power where consistent with the general purpose and intent of the Plan
to  (i)  modify  the requirements of the Plan to conform with the law or to meet
special  circumstances  not  anticipated or covered in the Plan, (ii) suspend or
discontinue  the  Plan,  (iii)  establish  policies  and  (iv)  adopt  rules and
regulations  and prescribe forms for carrying out the purposes and provisions of
the  Plan  including  the  form  of any "stock option agreements" ("Stock Option
Agreements").  Unless  otherwise  provided in the Plan, the Committee shall have
the  authority  to  interpret and construe the Plan, and determine all questions
arising  under  the  Plan  and  any  agreement  made  pursuant  to the Plan. Any
interpretation,  decision or determination made by the Committee shall be final,
binding  and  conclusive. A majority of the Committee shall constitute a quorum,
and  an  act  of  the  majority of the members present at any meeting at which a
quorum  is  present  shall  be  the  act  of  the  Committee.

1.4  SHARES  SUBJECT  TO  THE  PLAN.  Shares of stock ("Stock") covered by Stock
Options, SARs, and stock bonuses shall consist of 6,000,000 shares of the Common
Stock, $.001 par value, of the Company. Either authorized and unissued shares or
treasury  shares may be delivered pursuant to the Plan. If any Option for shares
of  Stock,  granted  to  a  Participant  lapses, or is otherwise terminated, the
Committee  may  grant  Stock  Options, SARs and stock bonuses for such shares of
Stock  to  other  Participants. However, neither Stock Options nor SARs shall be
granted  again  for  shares  of  Stock which have been subject to SARs which are
surrendered  in  exchange  for  cash  or  shares of Stock issued pursuant to the
exercise  of  SARs  as  provided  in  Article  II  hereof.

1.5  PARTICIPATION  IN THE PLAN. The Committee shall determine from time to time
those  Participants  who are to be granted Stock Options, SARs and stock bonuses
and  the  number  of  shares  of  Stock  covered  thereby.

1.6 DETERMINATION OF FAIR MARKET VALUE. As used in the Plan, "fair market value"
shall  mean  on  any  particular  day (i) if the Stock is listed or admitted for
trading on any national securities exchange or the National Market System of the
National Association of Securities Dealers, Inc. Automated Quotation System, the
last  sale  price, or if no sale occurred, the mean between the closing high bid
and  low asked quotations, for such day of the Stock on the principal securities
exchange on which shares of Stock are listed, (ii) if Stock is not traded on any
national  securities  exchange  but  is  quoted  on  the National Association of
Securities  Dealers,  Inc.,  Automated  Quotation  System,  the  NASD electronic
bulletin  board,  or any similar system of automated dissemination of quotations
or  securities  prices  in common use, the mean between the closing high bid and
low  asked quotations for such day of the Stock on such system, (iii) if neither
clause  (i) nor (ii) is applicable, the mean between  the high bid and low asked
quotations  for  the  Stock  as  reported  by  the  National  Quotation  Bureau,
Incorporated if at least two securities dealers have inserted both bid and asked
quotations  for  shares  of  the  Stock  on  at  least  five (5) of the ten (10)
preceding days, (iv) in lieu of the above, if actual transact-ions in the shares
of  Stock  are reported on a consolidated transaction reporting system, the last
sale  price  of  the  shares  of  Stock  on  such  system or, (v) if none of the
conditions  set  forth above is met, the fair market value of shares of Stock as
determined  by  the  Board.  Provided,  for purposes of determining "fair market
value"  of  the  Common  Stock  of  the  Company, such value shall be determined
without  regard  to  any  restriction  other than a restriction which will never
lapse.

<PAGE>

1.7  ADJUSTMENTS  UPON CHANGES IN CAPITALIZATION. The aggregate number of shares
of  Stock  under  Stock Options granted under the Plan, the Option Price and the
total  number  of  shares  of  Stock  which may be purchased by a Participant on
exercise  of  a Stock Option shall be approximately adjusted by the Committee to
reflect  any  recapitalization,  stock  split,  merger,  consolidation,
reorganization,  combination, liquidation, stock dividend or similar transaction
involving the Company except that a dissolution or liquidation of the Company or
a  merger  or  consolidation  in  which  the Company is not the surviving or the
resulting corporation, shall cause the Plan and any Stock Option, or SAR granted
thereunder,  to  terminate  upon  the  effective  date  of  such  dissolution,
liquidation,  merger  or  consolidation. Provided, that for the purposes of this
Section  1.7,  if  any  merger, consolidation or combination occurs in which the
Company  is  not the surviving corporation and is the result of a mere change in
the  identity,  form  or  place  of  organization of the Company accomplished in
accordance  with  Section  368(a)(1)(F)  of  the Code, then, such event will not
cause a termination. Appropriate adjustment may also be made by the Committee in
the  terms  of  a  SAR  to  reflect  any  of  the  foregoing  changes.

1.8 AMENDMENT AND TERMINATION OF THE PLAN. The Plan shall terminate at midnight,
June  13,  2008, but prior thereto may be altered, changed, modified, amended or
terminated  by written amendment approved by the Board. Provided, that no action
of  the  Board may, without the approval of the Board of Directors, increase the
aggregate  number of shares of Stock which may be purchased under Stock Options,
SARs  or stock bonuses granted under the Plan; or withdraw the administration of
the Plan from the Committee. Except as provided in this Article I, no amendment,
modification or termination of the Plan shall in any manner adversely affect any
Stock  Option  or  SAR theretofore granted under the Plan without the consent of
the  affected  Participant.

1.9  EFFECTIVE  DATE.  The  Plan  shall  be  effective  June  14,  2005

1.10  SECURITIES  LAW REQUIREMENTS. The Company shall have no liability to issue
any  Stock  hereunder  unless  the issuance of such shares would comply with any
applicable  federal  or  state  securities  laws  or any other applicable law or
regulations  thereunder.

1.11  SEPARATE CERTIFICATES. Separate certificates representing the Common Stock
of  the  Company to be delivered to a Participant upon the exercise of any Stock
Option,  or  SAR  will  be  issued  to  such  Participant.

1.12  PAYMENT  FOR  STOCK;  RECEIPT  OF  STOCK  OR  CASH  IN  LIEU  OF  PAYMENT.

     (a)     PAYMENT FOR STOCK.  Payment for shares of Stock acquired under this
Plan  shall  be  made  in full and in cash or check made payable to the Company.
Provided, payment for shares of Stock purchased under this Plan may also be made
in  Common Stock of the Company or a combination of cash and Common Stock of the
Company  in the event that the purchase of shares is pursuant to the exercise of
rights  under an SAR attached to the Option and which is exercisable on the date
of  exercise  of  the  Option.  In the event that Common Stock of the Company is
utilized in consideration for the purchase of Stock upon the exercise of a Stock
Option,  then,  such  Common Stock shall be valued at the "fair market value" as
defined  in  Section  1.6  of  the  Plan.

     (b)     RECEIPT  OF  STOCK  OR  CASH  IN  LIEU  OF PAYMENT.  Furthermore, a
Participant  may  exercise  an Option without payment of the Option Price in the
event  that  the  exercise  is  pursuant  to rights under an SAR attached to the
Option  and  which is exercisable on the date of exercise of the Option.  In the
event  an Option with an SAR attached is exercised without payment of the Option
Price,  the  Participant  shall be entitled to receive either (i) a cash payment
from  the  Company  equal  to  the  excess of the total fair market value of the
shares  of  Stock on such date as determined with respect to which the Option is
being  exercised over the total cash Option Price of such shares of Stock as set
forth  in  the  Option  or  (ii)  that  number  of  whole  shares of Stock as is
determined by dividing (A) an amount equal to the fair market value per share of
Stock  on  the  date  of  exercise into (B) an amount equal to the excess of the
total  fair  market  value  of  the shares of Stock on such date with respect to
which  the  Option  is  being exercised over the total cash Option Price of such
shares  of  Stock  as  set  forth  in  the Option, and fractional shares will be
rounded  to the next lowest number and the Participant will receive cash in lieu
thereof.

1.13  INCURRENCE OF DISABILITY. A Participant shall be deemed to have terminated
consulting  and incurred a disability ("Disability") if such Participant suffers
a  physical or mental condition which, in the judgment of the Committee, totally
and  permanently prevents a Participant from engaging in any substantial gainful
consulting  with  the  Company  or  a  subsidiary.

1.14  GRANTS OF OPTIONS AND STOCK OPTION AGREEMENT. Each Stock Option and/or SAR
granted  under  this  Plan shall be evidenced by the minutes of a meeting of the
Committee  or  by  the  written  consent of the Committee and by a written Stock
Option  Agreement effective on the date of grant and executed by the Company and
the  Participant.  Each  Option  granted  hereunder  shall  contain  such terms,
restrictions  and  conditions  as  the  Committee  may  determine,  which terms,
restrictions  and  conditions  may  or  may  not  be  the  same  in  each  case.

1.15  USE  OF  PROCEEDS.  The  proceeds received by the Company from the sale of
Stock  pursuant to the exercise of Options granted under the Plan shall be added
to  the  Company's  general  funds  and  used  for  general  corporate purposes.

<PAGE>

1.16  NON-TRANSFERABILITY  OF  OPTIONS. Except as otherwise herein provided, any
Option  or  SAR  granted shall not be transferable otherwise than by will or the
laws  of  descent  and distribution, and the Option may be exercised, during the
lifetime  of the Participant, only by him or her. More particularly (but without
limiting  the  generality  of  the  foregoing), the Option and/or SAR may not be
assigned, transferred (except as provided above), pledged or hypothecated in any
way,  shall  not  be  assignable by operation of law and shall not be subject to
execution,  attachment,  or similar process. Any attempted assignment, transfer,
pledge, hypothecation, or other disposition of the Option and/or SAR contrary to
the  provisions  hereof  shall  be  null  and  void  and  without  effect.

1.17  ADDITIONAL  DOCUMENTS  ON  DEATH  OF PARTICIPANT. No transfer of an Option
and/or  SAR  by  the Participant by will or the laws of descent and distribution
shall  be  effective  to  bind  the  Company  unless the Company shall have been
furnished  with  written  notice  and an unauthenticated copy of the will and/or
such  other  evidence  as  the  Committee  may  deem  necessary to establish the
validity  of  the  transfer  and  the  acceptance by the successor to the Option
and/or  SAR  of  the  terms  and  conditions  of  such  Option  and/or  SAR.

1.18  CHANGES  IN  CONSULTANT  RELATIONSHIPS.  So  long as the Participant shall
continue  to  be a consultant of the Company or any one of its subsidiaries, any
Option  granted  to  him or her shall not be affected by any change of duties or
position.  Nothing in the Plan or in any Stock Option Agreement which relates to
the Plan shall confer upon any Participant any right to continue as a consultant
of  the  Company or of any of its subsidiaries, or interfere in any way with the
right  of  the  Company  or  any of its subsidiaries to terminate the consulting
arrangement  at  any  time.

1.19 SHAREHOLDER RIGHTS. No Participant shall have a right as a shareholder with
respect  to  any  shares  of Stock subject to an Option prior to the purchase of
such  shares  of  Stock  by  exercise  of  the  Option.

1.20  RIGHT  TO  EXERCISE  UPON  COMPANY  CEASING TO EXIST. Where dissolution or
liquidation  of  the Company or any merger consolidation or combination in which
the  Company is not the surviving corporation occurs, the Participant shall have
the  right  immediately  prior  to  such  dissolution,  liquidation,  merger,
consolidation  or  combination,  as the case may be, to exercise, in whole or in
part,  his  or  her  then remaining Options whether or not then exercisable, but
limited  to  that  number  of  shares  that  can be acquired without causing the
Participant  to  have  an "excess parachute payment" as determined under Section
280G  of  the  Code  determined  by  taking  into  account  all of Participant's
"parachute  payments"  determined  under Section 280G of the Code. Provided, the
foregoing  notwithstanding,  after  the  Participant  has  been  afforded  the
opportunity  to  exercise  his or her then remaining Options as provided in this
Section  1.21,  and  to  the  extent  such  Options  are not timely exercised as
provided  in  this Section 1.21, then, the terms and provisions of this Plan and
any  Stock  Option  Agreement  will  thereafter  continue  in  effect,  and  the
Participant  will  be  entitled  to  exercise any such remaining and unexercised
Options  in accordance with the terms and provisions of this Plan and such Stock
Option  Agreement  as  such  Options  thereafter  become  exercisable.  Provided
further,  that  for  the  purposes  of  this  Section  1.21,  if  any  merger,
consolidation  or  combination  occurs in which the Company is not the surviving
corporation  and  is the result of a mere change in the identity, form, or place
of  organization  of  the  Company  accomplished  in  accordance  with  Section
368(a)(1)(F)  of  the  Code, then, such event shall not cause an acceleration of
the  exercisability  of  any  such  Options  granted  hereunder.

1.21  ASSUMPTION OF OUTSTANDING OPTIONS AND SARS. To the extent permitted by the
then  applicable provisions of the Code, any successor to the Company succeeding
to,  or  assigned the business of, the Company as the result of or in connection
with  a  corporate  merger,  consolidation,  combination,  reorganization  or
liquidation transaction shall assume Options and SARs outstanding under the Plan
or  issue  new  Options  and/or SARs in place of outstanding Options and/or SARs
under  the  Plan,  as  determined  in  its  sole  discretion.

                                   ARTICLE II

                      TERMS OF STOCK OPTIONS AND EXERCISE

2.1  GENERAL  TERMS.

     (a)     GRANT  AND TERMS FOR STOCK OPTIONS.  Stock Options shall be granted
by  the  Committee on the following terms and conditions:  No Stock Option shall
be  exercisable within six months from the date of grant (except as specifically
provided  in Subsection 2.l(c) hereof, with regard to the death or Disability of
a  Participant),  nor  more than five years after the date of grant.  Subject to
such  limitation, the Committee shall have the discretion to fix the period (the
"Option  Period") during which any Stock Option may be exercised.  Stock Options
granted  shall  not be transferable except by will or by the laws of descent and
distribution,  Stock  Options shall be exercisable only by the Participant while
actively  retained  as  a consultant by the Company or a subsidiary, except that
(i)  any  such  Stock  Option granted and which is otherwise exercisable, may be
exercised  by  the  personal  representative of a deceased Participant within 12
months  after the death of such Participant (but not beyond the Option Period of
such  Stock  Option),  (ii)  if  a  Participant  terminates  his  position  as a
consultant  with  the  Company  or  a  subsidiary on account of Retirement, such
Participant  may exercise any Stock Option which is otherwise exercisable at any
time  within three months of such date of termination and (iii) if a Participant
terminates  his  position  as  a  consultant with the Company or a subsidiary on
account  of  incurring  a  Disability,  such  Participant may exercise any Stock
Option  which is otherwise exercisable at any time within 12 months of such date
of  termination.  If  a Participant should die during the applicable three-month
or  12-month  period  following  the  date of such Participant's  termination on
account  of  Disability,  the  rights  of  the  personal  representative of such
deceased  Participant  as  such  relate  to  any  Stock  Options granted to such
deceased  Participant  shall be governed in accordance with Subsection 2.1(a)(i)
of  this  Article  II.

<PAGE>

     (b)     OPTION  PRICE.  The  option  price  ("Option  Price") for shares of
Stock  subject to a Stock Option shall be determined by the Committee, but in no
event  shall  the  Option  Price of  Stock Options be less than 85% of the "fair
market  value"  of  the  Stock  on  the  date  of  grant.

     (c)     ACCELERATION  OF  OTHERWISE  UNEXERCISABLE  STOCK  OPTION ON DEATH,
DISABILITY  OR  OTHER  SPECIAL  CIRCUMSTANCES.  The  Committee,  in  its  sole
discretion,  may  permit  (i)  a  Participant  who  terminates his position as a
consultant  due  to a Disability, (ii) the personal representative of a deceased
Participant,  or  (iii)  any  other Participant who terminates his position as a
consultant  upon  the  occurrence of special circumstances (as determined by the
Committee)  to  exercise  and  purchase  (within  three  months  of such date of
termination  of  consulting  arrangement, or 12 months in the case of a deceased
or  disabled  Participant; all or any part of the shares subject to Stock Option
on  the  date  of  the  Participant's  Disability,  death,  or  as the Committee
otherwise  so  determines,  notwithstanding  that all installments, if any, with
respect  to  such  Stock  Option,  had not accrued on such date.  Provided, such
discretionary  authority of the Committee shall not be exercised with respect to
any Stock Option (or portion thereof) if the applicable six-month waiting period
for  exercise  had not expired except in the event of the death or disability of
the  Participant when the personal representative of the deceased Participant or
the  disabled  Participant may, with the consent of the Committee, exercise such
Stock  Option  notwithstanding  the  fact  that the applicable six-month waiting
period  had  not  yet  expired.

     (d)     NUMBER  OF STOCK OPTIONS GRANTED.  Participants may be granted more
than  one  Stock  Option.  In making any such determination, the Committee shall
obtain  the  advice  and  recommendation  of  the  officers  of the Company or a
subsidiary  which  have  supervisory  authority  over  such  Participants.  The
granting of a Stock Option under the Plan shall not affect any outstanding Stock
Option  previously  granted  to  a  Participant  under  the  Plan.

     (e)     NOTICE  OF EXERCISE STOCK OPTION.  Upon exercise of a stock option,
a  Participant  shall  give  written  notice to the Secretary of the Company, or
other  officer designated by the Committee, at the Company's principal executive
office.  No  Stock shall be issued to any Participant until the Company receives
full  payment for the Stock purchased, if applicable, and any required state and
federal  withholding  taxes.

                                  ARTICLE III

                                      SARS

3.1  GENERAL  TERMS.

     (a)     GRANT  AND  TERMS  OF  SARS.  The  Committee  may  grant  SARs  to
Participants  in  connection  with  Stock Options  granted under the Plan.  SARs
shall  not  be  exercisable  (i)  earlier than six months from the date of grant
except  as  specifically provided in Subsection 3.l(b) hereof in the case of the
death  or  Disability of a Participant, and (ii) shall terminate at such time as
the  Committee  determines  and  shall  be  exercised only upon surrender of the
related  Stock  Option and only to the extent that the related Stock Option  (or
the  portion thereof as to which the SAR is exercisable) is exercised.  SARs may
be  exercised  only by the Participant while actively engaged as a consultant by
the  Company  or  a  subsidiary except that (i) any SARs previously granted to a
Participant  which are otherwise exercisable may be exercised, with the approval
of the Committee, by the personal representative of a deceased Participant, even
if  such  death  should  occur  within  six months of the date of grant (but not
beyond  the  expiration  date of such SAR), and (ii) if a Participant terminates
his  position  as a consultant with the Company or a subsidiary, as the case may
be,  on  account  of  incurring  a Disability, such Participant may exercise any
SARs  which  are  otherwise  exercisable,  with  the  approval of the Committee,
anytime  within 12 months of termination by Disability.  If a Participant should
die  during  the applicable three-month period following the applicable 12 month
period following the date of termination on account of Disability, the rights of
the  personal  representative of such deceased Participant as such relate to any
SARs  granted  to such deceased Participant shall be governed in accordance with
(i)  of  the second sentence of this Subsection 3.l(a) of this Article III.  The
applicable  SAR shall (i) terminate upon the termination of the underlying Stock
Option, as the case may be, (ii) only be transferable at the same time and under
the  same conditions as the underlying Stock Option  is transferable, (iii) only
be  exercised  when  the  underlying  Stock Option is exercised, and (iv) may be
exercised  only  if  there  is  a  positive  spread between the Option Price, as
applicable  and  the  "fair  market  value"  of  the  Stock for which the SAR is
exercised.

<PAGE>

     (b)     ACCELERATION OF OTHERWISE UNEXERCISABLE SARS UPON DEATH, DISABILITY
OR  OTHER  SPECIAL  CIRCUMSTANCES.  The  Committee,  in its sole discretion, may
permit  (i)  a  Participant who terminates his position as a consultant with the
Company or a subsidiary due to a Disability, (ii) the personal representative of
such  deceased  Participant,  or  (iii)  any  other  Participant  who terminates
employment as  a consultant with the Company or a subsidiary upon the occurrence
of special circumstances (as determined by the Committee) to exercise (within 12
months in the case of a disabled or deceased Participant) all or any part of any
such  SARs  previously  granted  to  such  Participant  as  of  the date of such
Participant's  Disability,  death,  or as the Committee otherwise so determines,
notwithstanding that all installments, if any with respect to such SARs, had not
accrued  on  such date.  Provided, such discretionary authority of the Committee
may  not  be  exercised  with  respect  to  any  SAR  (or portion thereof if the
applicable  six-month  waiting  period  for  exercise had not expired as of such
date,  except  (i) in the event of the Disability of the Participant or (ii) the
death  of  the  Participant,  when  such  disabled  Participant  or the personal
representative  of  such  deceased  Participant  may,  with  the  consent of the
Committee,  exercise  such  SARs  notwithstanding  the  fact that the applicable
six-month  waiting  period  had  not  yet  expired.

     (c)     FORM  OF  PAYMENT  OF SARS.  The Participant may request the method
and  combination  of  payment upon the exercise of a SAR; however, the Committee
has  the final authority to determine whether the value of the SAR shall be paid
in  cash  or  shares  of  Stock  or both.  Upon exercise of a SAR, the holder is
entitled  to  receive  the excess amount of the "fair market value" of the Stock
(as  of  the  date  of  exercise) for which the SAR is exercised over the Option
Price,  as  applicable, under the related Stock Option, as the case may be.  All
applicable  federal  and state withholding taxes will be paid by the Participant
to  the  Company  upon  the  exercise of a SAR since the excess amount described
above  will  be required to be included within taxable income in accordance with
Sections  61  and  83  of  the  Code.

                           National  Parking  Systems,  Inc.

                     By:  /s/  Marc  Ebersole
                          -------------------
                          Marc  Ebersole,  President

                          Date Plan adopted and approved by the
                          Board of Directors:
                          June  14,  2005

<PAGE>

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