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EXHIBIT 4.6    
    

 MEDIMMUNE, INC.,  

 as Issuer  

 THE BANK OF NEW YORK,  

 as Trustee  

 Up to $575,000,000 Aggregate Principal Amount of  

 1% Convertible Senior Notes due 2023  

 

FIRST SUPPLEMENTAL INDENTURE  

 Dated as of December 5, 2003  

 

  

   
        FIRST SUPPLEMENTAL INDENTURE, dated as of December 5, 2003 (the "First Supplemental
Indenture"), between MEDIMMUNE, INC., a Delaware corporation (the
"Company"), and THE BANK OF NEW YORK, a New York banking corporation, as Trustee (the
"Trustee"). 

        WHEREAS, the Company and the Trustee have entered into an Indenture dated as of July 15, 2003 (the
"Indenture") relating to the Company's 1% Convertible Senior Notes due 2023; 

        WHEREAS, pursuant to Section 11.1(j) of the Indenture, the Company and the Trustee may amend the Indenture or the Securities
without the consent of any Securityholder to cure any ambiguity, correct or supplement any provision of the Indenture which may be inconsistent with any other provision of the Indenture or which is
otherwise defective, or to make any other provisions with respect to matters or questions arising under the Indenture which the Company may deem necessary or desirable and which shall not be
inconsistent with the provisions of the Indenture; provided, however, that such action shall not adversely affect the interests of the Holders of
Securities; 

        WHEREAS, the Company and the Trustee desire to enter into this First Supplemental Indenture; and 

        WHEREAS, all things necessary to make this First Supplemental Indenture a valid agreement of the parties, in accordance with the terms
hereof, have been done. 

        NOW,  THEREFORE, the Company covenants and agrees with the Trustee as follows: 

 Section 1.    General.  

        Unless the context otherwise requires: 

        (a)   capitalized
terms used in this First Supplemental Indenture and not otherwise defined herein shall have the meanings ascribed to such terms in the Indenture; and 

        (b)   a
term defined in the Indenture has the same meaning when used in this First Supplemental Indenture unless otherwise defined herein (in which case the definition set
forth herein shall govern). 

 Section 2.    Amendments to the Indenture.  

        The Indenture is, effective as of the date hereof, hereby amended as follows: 

        (a)   Table of Contents.    The Table of Contents of the Indenture is hereby amended as follows: 

          (i)  The
phrase "Section 4.2. [Reserved]" is hereby replaced in its entirety with the phrase "Section 4.2. No Purchases During Events
of Default." 

         (ii)  The
phrase "Section 5.2. [Reserved]" is hereby replaced in its entirety with the phrase "Section 5.2. No Purchases During Events
of Default." 

        (b)   Section 1.1.    Definitions.    The following defined term shall be added to
Section 1.1 of the Indenture immediately following the definition of the term "Applicable Procedures": 

              "'Average Sale Price' has the meaning set forth in Section 12.3(f)(iii)." 

        (c)   Section 4.2.    [Reserved].    Section 4.2 of the Indenture is
hereby amended by deleting such Section in its entirety and replacing it with the following: 

	        "Section 4.2.    No Purchases During Events of Default.    Notwithstanding anything
herein to the contrary, there shall be no purchase of any Securities pursuant to this Article IV if there has occurred (prior to, on or after, as the case may be, the giving, by the Holders of such Securities, of the required Purchase Notice)
and is continuing an Event of Default (other than a default in the payment of the Purchase Price). The Paying Agent will promptly return to the respective Holders thereof any Securities held by it during the continuance of an Event of Default (other
than a default in the payment of the Purchase Price), in which case, upon such return, the Purchase Notice with respect thereto shall be deemed to have been withdrawn."
	 	 	 

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        (d)   Section 5.2.    [Reserved].    Section 5.2 of the Indenture is
hereby amended by deleting such Section in its entirety and replacing it with the following: 

	        "Section 5.2.    No Purchases During Events of Default.    Notwithstanding anything
herein to the contrary, there shall be no purchase of any Securities pursuant to this Article V if there has occurred (prior to, on or after, as the case may be, the giving, by the Holders of such Securities, of the required Change in Control
Purchase Notice) and is continuing an Event of Default (other than a default in the payment of the Change in Control Purchase Price). The Paying Agent will promptly return to the respective Holders thereof any Securities held by it during the
continuance of an Event of Default (other than a default in the payment of the Change in Control Purchase Price), in which case, upon such return, the Change in Control Purchase Notice with respect thereto shall be deemed to have been
withdrawn."

        (e)   Section 12.3.    Adjustment of Conversion Rate.    Section 12.3 of the Indenture is
hereby amended as follows: 

          (i)  Each
instance of the phrase "Sale Price of the Common Stock" in each of paragraphs (c), (d) and (e) of Section 12.3 of the Indenture is hereby
replaced in its entirety with the phrase "Average Sale Price per share of the Common Stock." 

         (ii)  The
phrase "dividing the product so obtained by such Sale Price" in Section 12.3(c)(ii) of the Indenture is hereby replaced in its entirety with the
phrase "dividing the product so obtained by such Average Sale Price per share of Common Stock." 

        (iii)  The
phrase "at less than such Sale Price" in the ultimate paragraph of Section 12.3(c) of the Indenture is hereby replaced in its entirety with the phrase "at
less than the applicable Average Sale Price per share of the Common Stock." 

        (iv)  A
new subparagraph (iii) is hereby added to the end of Section 12.3(f) of the Indenture as follows: 

              "(iii) With
respect to any computation under this Article XII, 'Average Sale Price' per share of
the Common Stock on a given date of determination shall mean the average of the Sale Prices per share of the Common Stock for the twenty (20) consecutive Trading Days immediately prior to such
date of determination; provided, however, that if the "ex" date of any event (including the event requiring such computation) that requires an
adjustment to the Conversion Rate pursuant to paragraph (a), (b), (c), (d) or (e) of this Section 12.3 occurs during such twenty (20) consecutive Trading Days, the
Average Sale Price per share of the Common Stock shall be appropriately adjusted in a manner determined in good faith by the Board of Directors (whose determination shall be final and described in a
Board Resolution) to take into account the occurrence of such event. For purposes of this subparagraph, the term "ex" date, (i) when used with respect to any issuance or distribution, means the
first date on which the Common Stock trades the regular way on the relevant exchange or in the relevant market from which the Average Sale Price was obtained without the right to receive such issuance
or distribution; and (ii) when used with respect to any subdivision or combination of shares of the Common Stock, means the first date on which the Common Stock trades the regular way on such
exchange or in such market after the time at which such subdivision or combination becomes effective." 

        (f)    Exhibit A: Form of Security.    Enumerated paragraph 14 of the Form of Security contained in
Exhibit A to the Indenture is hereby amended by replacing the phrase "Market Price and Sale Price of 

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the
Securities" in its entirety with the phrase "Market Price of the Securities and Sale Price and Average Sale Price of the Common Stock." 

 Section 3.    Ratification and Incorporation of Indenture.  

        The Indenture, as supplemented by this First Supplemental Indenture, is in all respects ratified and confirmed, and this First Supplemental Indenture shall be
deemed part of the Indenture. 

 Section 4.    Governing Law.  

        The Indenture, including this First Supplemental Indenture, and the Securities shall be governed by, and construed in accordance with, the laws of the State of
New York. 

 Section 5.    Separability.  

        In case any provision contained in the Indenture, including this First Supplemental Indenture, shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected or impaired thereby, and a Holder shall have no claim therefor against any party thereto. 

 Section 6.    Successors.  

        All agreements of the Company in the Indenture, including this First Supplemental Indenture, and the Securities shall bind its successor. All agreements of the
Trustee in the Indenture, including this First Supplemental Indenture, shall bind its successors. 

 Section 7.    Effect of Headings.  

        The Section headings provided herein are for convenience only and shall not affect the construction or interpretation the Indenture, including this First
Supplemental Indenture. 

 Section 8.    Counterparts.  

        This First Supplemental Indenture may be executed in any number of counterparts each of which shall be an original, but such counterparts shall together
constitute one and the same instrument. 

 Section 9.    Trustee Not Responsible for Recitals.  

        The recitals contained herein shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes
no representations as to the validity or sufficiency of this First Supplemental Indenture. 

[The Remainder of This Page Intentionally Left Blank; Signature Page Follows]

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        IN WITNESS WHEREOF, the undersigned, being duly authorized, have executed this First Supplemental Indenture on behalf of the respective
parties hereto as of the date first above written. 

	 	 	MEDIMMUNE, INC.
	

 	
 	
By:	

/s/  TIMOTHY R. PEARSON      
	 	 	 	

	 	 	 	Name:	Timothy R. Pearson
	 	 	 	Title:	Vice President, Treasurer and Secretary
	 	 	 	 	 
	 	 	 	 	 
	

 	
 	
THE BANK OF NEW YORK, as Trustee
	

 	
 	

By:	

/s/  GEOVANNI BARRIS      
	 	 	 	

	 	 	 	Name:	Geovanni Barris
	 	 	 	Title:	Vice President

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EXHIBIT 4.6Exhibit 10.1

                              RIDDLE RECORDS, INC.

                        2003 STOCK OPTION, DEFERRED STOCK
                                       AND
                              RESTRICTED STOCK PLAN

Section 1.        General Purpose of Plan; Definitions.

     (a) This plan is intended to implement and govern the 2003 Stock Option,
Deferred Stock and Restricted Stock Plan (the "Plan") of Riddle Records, Inc., a
Nevada corporation (the "Company"). The Plan was adopted by the Board of
Directors of the Company as of November 11, 2003. The purpose of the Plan is to
enable the Company to obtain and retain competent personnel who will contribute
to the Company's success by their ability, ingenuity and industry, and to
provide incentives to such personnel and members that are linked directly to
increases in stockholder value, and will therefore, inure to the benefit of all
stockholders of the Company.

     (b) For purposes of the Plan, the following terms shall be defined as set
forth below:

          (1) "Administrator" means the Board, or if the Board does not
     administer the Plan, the Committee, in accordance with Section 2.

          (2) "Award" means any award of Deferred Stock, Restricted Stock or
     Stock Option.

          (3) "Board" means the Board of Directors of the Company.

          (4) "Code" means the Internal Revenue Code of 1986, as amended from
     time to time, or any successor thereto. ----

          (5) "Commission" means the Securities and Exchange Commission.

          (6) "Committee" means the Compensation Committee of the Board, or any
     other Committee the Board may appoint to administer the Plan. If at any
     time the Board shall administer the Plan, then the functions of the
     Committee specified in the Plan shall be exercised by the Board.

          (7) "Company" means Riddle Records, Inc., a corporation organized
     under the laws of Nevada (or any successor corporation) and any parent
     corporation within the meaning of Section 425(e) of the Code, any
     subsidiary corporation with the meaning of Section 425(f) of the Code or
     any majority-owned subsidiary of a parent corporation.

          (8) "Deferred Stock" means an award made pursuant to Section 6 below
     of the right to receive Stock at the end of a specified deferral period.

          (9) "Disability" means, except as otherwise provided by the
     Administrator and except in connection with exercise of an Incentive Stock
     Option whereby disability shall have the meaning set forth in Section
     22(e)(3) of the Code, permanent and total disability as determined under
     the Company's disability program or policy, or if such disability program
     or policy does not exist, then any disability that renders Participant
     unable to serve the Company in the capacity for which such Participant
     served immediately prior to such disability.

          (10) "Effective Date" shall mean the date provided pursuant to Section
     15.

          (11) "Eligible Person" means an employee, director, consultant or
     advisor of the Company eligible to participate in the Plan pursuant to
     Section 4.

          (12) "Exchange Act" means the Securities Exchange Act of 1934, as
     amended.

          (13) "Fair Market Value" means, as of any given date, with respect to
     any Awards granted hereunder, at the discretion of the Administrator and
     subject to such limitations as the Administrator may impose, (A) the
     closing sales price of the Stock on such date, or (B) the average of the
     closing sales price of the Stock on each day on which the Stock was traded
     over a period of up to twenty trading days immediately prior to such date,
     or (C) if the Stock is not publicly traded, the fair market value of the
     Stock as otherwise determined by the Administrator in the good faith
     exercise of its discretion.

          (14) "Incentive Stock Option" means any Stock option intended to be
     designated as an "incentive stock option" within the meaning of Section 422
     of the Code.

          (15) "Non-Qualified Stock Option" means any Stock Option that is not
     an Incentive Stock Option, including any Stock Option that provides (as of
     the time such option is granted) that it will not be treated as an
     Incentive Stock Option.

          (16) "Participant" means any Eligible Person selected by the
     Administrator pursuant to the Administrator's authority in Section 2 below
     to receive Awards.

          (17) "Restricted Period" means the period set by the Administrator as
     it pertains to Deferred Stock or Restricted Stock awards pursuant to
     Section 6.

          (18) "Restricted Stock" means an award of shares of Stock granted
     pursuant to Section 6 subject to restrictions that will lapse with the
     passage of time or upon the attainment of performance objectives.

          (19) "Securities Act" means the Securities Act of 1933, as amended.

          (20) "Stock" means the Class A Common Stock, $.001 par value, of the
     Company.

          (21) "Stock Option" means an option to purchase shares of Stock
     granted pursuant to Section 5.

                                        2
<PAGE>

Section 2.        Administration.

     (a) The Plan shall be administered by the Board or by a Committee appointed
by the Board, which shall serve at the pleasure of the Board; provided, however,
that if the Stock is registered under Section 12 of the Securities Act and if
the Committee does not consist solely of "Non-Employee Directors," as defined in
Rule 16b-3 as promulgated by the Commission under the Exchange Act, and as such
Rule may be amended from time to time, or any successor definition adopted by
the Commission, then the Plan shall be administered, and each grant shall be
approved, by the Board.

     (b) The Administrator shall have the power and authority to grant to
Eligible Persons, pursuant to the terms of the Plan: (i) Stock Options, (ii)
Deferred Stock, (iii) Restricted Stock, or (iv) any combination of the
foregoing.

     In particular, the Administrator shall have the authority:

          (1) to select those employees of the Company who are Eligible Persons;

          (2) to determine whether and to what extent Stock Options, Deferred
     Stock, Restricted Stock or a combination of the foregoing, are to be
     granted to Eligible Persons of the Company;

          (3) to determine the number of shares of Stock to be covered by each
     such Award;

          (4) to determine the terms and conditions, not inconsistent with the
     terms of the Plan, of any such Award including, but not limited to, (i) the
     restricted period applicable to Deferred Stock or Restricted Stock awards,
     (ii) the date or dates on which restrictions applicable to such Deferred
     Stock or Restricted Stock shall lapse during such period, and (iii) when
     and in what increments shares covered by Stock Options may be purchased,
     subject to applicable rules and regulations and restrictions set forth
     herein; and

          (5) to determine the terms and conditions, not inconsistent with the
     terms of the Plan, which shall govern all written instruments evidencing
     the Stock Options, Deferred Stock, Restricted Stock or any combination of
     the foregoing.

     (c) The Administrator shall have the authority, in its discretion, to
adopt, alter and repeal such administrative rules, guidelines and practices
governing the Plan as it shall from time to time deem advisable; to interpret
the terms and provisions of the Plan and any Award issued under the Plan (and
any agreements relating thereto); and to otherwise supervise the administration
of the Plan.

     (d) All decisions made by the Administrator pursuant to the provisions of
the Plan shall be final and binding on all persons, including the Company and
the Participants.

                                        3
<PAGE>

Section 3.        Stock Subject to Plan.

     (a) The total number of shares of Stock reserved and available for issuance
under the Plan shall be 5,000,000 shares. Such shares shall consist of
authorized but unissued shares.

     (b) To the extent that (i) a Stock Option expires or is otherwise
terminated without being exercised or (ii) any shares of Stock subject to any
Deferred Stock or Restricted Stock award granted hereunder are forfeited, such
shares shall again be available for issuance in connection with future Awards
under the Plan. If any shares of Stock have been pledged as collateral for
indebtedness incurred by a Participant in connection with the exercise of a
Stock Option and such shares are returned to the Company in satisfaction of such
indebtedness, such shares shall again be available for issuance in connection
with future Awards under the Plan. If the exercise price of any Stock Option
award, or the withholding obligation arising from a Stock Option granted under
the Plan is satisfied by tendering shares of Stock to the Company (by either
actual delivery of by attestation), only the number of shares of Stock issued,
not of the shares of Stock tendered, shall be deemed delivered for purposes of
determining the maximum number of shares of Stock available for delivery under
the Plan.

     (c) In the event of any merger, reorganization, consolidation,
recapitalization, stock dividend, stock split, reverse stock split or other
change in corporate structure affecting the Stock, an appropriate substitution
or adjustment shall be made in (i) the aggregate number of shares reserved for
issuance under the Plan, and (ii) the kind, number and option price of shares
subject to outstanding Awards granted under the Plan as may be determined by the
Administrator, in its sole discretion, provided that the number of shares
subject to any Award shall always be a whole number. Such other substitutions or
adjustments shall be made as may be determined by the Administrator, in its sole
discretion; provided, however, that with respect to Incentive Stock Options,
such adjustment shall be made in accordance with Section 424 of the Code.

Section 4.        Eligibility.

     Officers, employees and directors of, and consultants and advisors
providing services to, the Company shall be eligible to be granted Non-Qualified
Stock Options, Deferred Stock or Restricted Stock awards hereunder. Officers and
other key employees of the Company shall also be eligible to be granted
Incentive Stock Options hereunder. The Participants under the Plan shall be
selected from time to time by the Administrator, in its sole discretion, from
among the Eligible Persons recommended by the senior management of the Company,
and the Administrator shall determine, in its sole discretion, the number of
shares covered by each Award.

Section 5.        Stock Options for Eligible Persons.

     (a) Stock Options may be granted to Eligible Persons alone or in addition
to other Awards granted under the Plan. Any Stock Option granted under the Plan
shall be in such form as the Administrator may from time to time approve, and
the provisions of Stock Option awards need not be the same with respect to each

                                        4
<PAGE>

optionee. Recipients of Stock Options shall enter into a stock option agreement
with the Company, in such form as the Administrator shall determine, which
agreement shall set forth, among other things, the exercise price of the option,
the term of the option and provisions regarding exercisability of the option
granted thereunder. The prospective recipient of a Stock Option shall not have
any rights with respect to such Award, unless and until such recipient has
executed an agreement evidencing the Award (a "Stock Option Agreement" and has
delivered a fully executed copy thereof to the Company, within a period of sixty
days (or such other period as the Administrator may specify) after the Award
date.

     The Stock Options granted under the Plan to Eligible Persons may be of two
types: (x) Incentive Stock Options and (y) Non-Qualified Stock Options.

     (b) The Administrator shall have the authority under this Section 5 to
grant any optionee Incentive Stock Options, Non-Qualified Stock Options, or both
types of Stock Options; provided, however, that Incentive Stock Options may not
be granted to any individual who is not an employee of the Company. To the
extent that any Stock Option does not qualify as an Incentive Stock Option, it
shall constitute a separate Non-Qualified Stock Option. More than one option may
be granted to the same optionee and be outstanding concurrently hereunder.

     (c) Stock Options granted under the Plan shall be subject to the following
terms and conditions and shall contain such additional terms and conditions, not
inconsistent with the terms of the Plan, as the Administrator shall, in its sole
discretion, deem desirable:

          (i) Option Price. The option price per share of Stock purchasable
     under an Incentive Stock Option shall be determined by the Administrator,
     in its sole discretion, at the time of grant but shall be not less than
     100% of the Fair Market Value of the Stock on such date, and shall not, in
     any event, be less than the par value of the Stock, if any. The option
     price per share of Stock purchasable under a Non-Qualified Stock Option may
     be less than 100% of such Fair Market Value, but in no event less than 85%
     of such Fair Market Value. If an employee owns or is deemed to own (by
     reason of the attribution rules applicable under Section 424(d) of the
     Code) more than 10% of the combined voting power of all classes of stock of
     the Company and a Stock Option is granted to such employee, the option
     price of such Stock Option (to the extent required by the Code at the time
     of grant) shall be no less than 110% of the Fair Market Value of the Stock
     on the date such Stock Option is granted.

          (ii) Option Term. The term of each Stock Option shall be fixed by the
     Administrator, but no Stock Option shall be exercisable more than ten years
     after the date such Stock Option is granted; provided, however, that if an
     employee owns or is deemed to own (by reason of the attribution rules of
     Section 424(d) of the Code) more than 10% of the combined voting power of
     all classes of stock of the Company and an Incentive Stock Option is
     granted to such employee, the term of such Incentive Stock Option (to the
     extent required by the Code at the time of grant) shall be no more than
     five years from the date of grant.

          (iii) Exercisability. Stock Options shall be exercisable at such time
     or times and subject to such terms and conditions as shall be determined by
     the Administrator at or after grant; provided, however, that, except as
     provided herein or unless otherwise determined by the Administrator at or

                                        5
<PAGE>

     after grant, Stock Options shall be exercisable one year following the date
     of grant of the option. With respect to Stock Options issued to non-officer
     employees of the Company, such Stock Options shall vest at least 20% per
     year over the five-year period commencing from the date of grant. To the
     extent not exercised, installments shall accumulate and be exercisable in
     whole or in part at any time after becoming exercisable but not later than
     the date the Stock Option expires. The Administrator may provide, in its
     discretion, that any Stock Option shall be exercisable only in
     installments, and the Administrator may waive such installment exercise
     provisions at any time in whole or in part based on such factors as the
     Administrator may determine in its sole discretion.

          (iv) Method of Exercise. Subject to Subsection 5(c)(iii), Stock
     Options may be exercised in whole or in part at any time during the option
     period by giving written notice of exercise to the Company specifying the
     number of shares to be purchased, accompanied by payment in full of the
     purchase price in cash or its cash equivalent, as determined by the
     Administrator. The Administrator may, in its sole discretion, accept
     payment in whole or in part on behalf of the Company (i) in the form of
     unrestricted Stock already owned by the optionee, or, in the case of the
     exercise of a Non-Qualified Stock Option, Restricted Stock subject to an
     Award hereunder (based, in each case, on the Fair Market Value of the
     Stock), (ii) by cancellation of any indebtedness owed by the Company to the
     optionee, (iii) by a full recourse promissory note executed by the
     optionee, (iv) by requesting that the Company withhold whole shares of
     Common Stock then issuable upon exercise of the Stock Option (based on the
     Fair Market Value of the Stock), (v) by arrangement with a broker which is
     acceptable to the Administrator where payment of the option price is made
     pursuant to an irrevocable direction to the broker to deliver all or part
     of the proceeds from the sale of the shares underlying the option to the
     Company, or (vi) by any combination of the foregoing; provided, however,
     that in the case of an Incentive Stock Option, the right to make payment in
     the form of already owned shares may be authorized only at the time of
     grant. Any payment in the form of stock already owned by the optionee may
     be effected by use of an attestation form approved by the Administrator. If
     payment of the option exercise price of a Non-Qualified Stock Option is
     made in whole or in part in the form of Restricted Stock, the shares
     received upon the exercise of such Stock Option (to the extent of the
     number of shares of Restricted Stock surrendered upon exercise of such
     Stock Option) shall be restricted in accordance with the original terms of
     the Restricted Stock award in question, except that the Administrator may
     direct that such restrictions shall apply only to that number of shares
     equal to the number of shares surrendered upon the exercise of such option.
     An optionee shall generally have the rights to dividends and other rights
     of a stockholder with respect to shares subject to the option only after
     the optionee has given written notice of exercise, has paid in full for
     such shares, and, if requested, has given the representation described in
     paragraph (a) of Section 10.

     (d) The Company may make loans available to Stock Option holders in
connection with the exercise of outstanding options granted under the Plan, as
the Administrator, in its discretion, may determine. Such loans shall (i) be
evidenced by promissory notes entered into by the Stock Option holders in favor
of the Company, (ii) be subject to the terms and conditions set forth in this
paragraph and such other terms and conditions, not inconsistent with the Plan,
as the Administrator shall determine, (iii) bear interest, if any, at such rate

                                        6
<PAGE>

as the Administrator shall determine and (iv) be subject to Board approval. In
no event may the principal amount of any such loan exceed the sum of (x) the
exercise price less the par value of the shares of Stock covered by the option,
or portion thereof, exercised by the holder and (y) any Federal, state, and
local income tax attributable to such exercise. The initial term of the loan,
the schedule of payments of principal and interest under the loan, the extent to
which the loan is to be with or without recourse against the holder with respect
to principal or interest and the conditions upon which the loan will become
payable in the event of the holder's termination of employment shall be
determined by the Administrator; provided, however, that the term of the loan,
including extensions, shall not exceed seven (7) years. Unless the Administrator
determines otherwise, when a loan is made, shares of Common Stock having a Fair
Market Value at least equal to the principal amount of the loan shall be pledged
by the holder to the Company as security for payment of the unpaid balance of
the loan, and such pledge shall be evidenced by a pledge agreement, the terms of
which shall be determined by the Administrator, in its discretion; provided,
however, that each loan shall comply with all applicable laws, regulations and
rules of the Board of Governors of the Federal Reserve System and any other
governmental agency having jurisdiction.

     (e) No Stock Option shall be transferable by the optionee otherwise than by
will or by the laws of descent and distribution. Incentive Stock Options shall
be exercisable, during the optionee's lifetime, only by the optionee.

     (f) If an optionee's employment with the Company terminates by reason of
death or Disability, the Stock Option may thereafter be immediately exercised,
to the extent then exercisable (or on such accelerated basis as the
Administrator shall determine at or after grant), by the legal representative of
the optionee, by the legal representative of the estate of the optionee, or by
the legatee of the optionee under the will of the optionee, for a period of at
least six (6) months from the date of such death or Disability. In the event of
a termination of employment by reason of Disability, if an Incentive Stock
Option is exercised after the expiration of the exercise periods that apply for
purposes of Section 422 of the Code, such Stock Option shall thereafter be
treated as a Non-Qualified Stock Option.

     (g) Except as otherwise provided in this paragraph or otherwise determined
by the Administrator, if an optionee's employment with the Company terminates
for any reason other than death or Disability (except for termination for cause
as defined by applicable law), the optionee must exercise his or her Stock
Options, to the extent then exercisable (or on such accelerated basis as the
Administrator shall determine at or after grant), within thirty (30) days from
the date of such termination. If the optionee does not exercise his or her Stock
Options within this thirty (30) day period, the Stock Options automatically
terminate, and such Stock Options become null and void.

     (h) If the aggregate Fair Market Value (determined as of the date the
Incentive Stock Option is granted) of the shares of Stock with respect to which
Incentive Stock Options granted to an optionee under this Plan and all other
plans of the Company become exercisable for the first time by the optionee
during any calendar year exceeds $100,000, then such Stock Options shall be
treated as Non-Qualified Stock Options to the extent such exceeds $100,000.

                                        7
<PAGE>

Section 6.        Deferred Stock and Restricted Stock.

     (a) Deferred Stock and Restricted Stock awards may be issued to Eligible
Persons either alone or in addition to other Awards granted under the Plan. The
Administrator shall determine the Eligible Persons, and the time or times at
which grants of Deferred Stock or Restricted Stock awards shall be made; the
number of shares to be awarded; the price to be paid by the recipient of
Deferred Stock or Restricted Stock awards; the Restricted Period (as defined in
paragraph 6(c) hereof) applicable to Deferred Stock or Restricted Stock awards;
the performance objectives applicable to Deferred Stock or Restricted Stock
awards; the date or dates on which restrictions applicable to such Deferred
Stock or Restricted Stock awards shall lapse during such Restricted Period; and
all other conditions of the Deferred Stock or Restricted Stock awards. The
purchase price of any Deferred Stock or Restricted Stock award must be at least
85% of the Fair Market Value of the Stock at the time the Participant is granted
the right to purchase shares under the Plan, or at the time the purchase is
consummated. If a Participant owns or is deemed to own (by reason of the
attribution rules applicable under Section 424(d) of the Code) more than 10% of
the combined voting power of all classes of Stock of the Company, than the
purchase price of the Deferred Stock or Restricted Stock award must be 100% of
the Fair Market Value of the Stock either at the time the Participant is granted
the right to purchase shares under the Plan, or at the time the purchase is
consummated. The Administrator may also condition the grant of Deferred Stock or
Restricted Stock awards upon the exercise of Stock Options, or upon such other
criteria as the Administrator may determine, in its sole discretion. The
provisions of Deferred Stock or Restricted Stock awards need not be the same
with respect to each recipient.

     (b) The prospective recipient of a Deferred Stock or Restricted Stock award
shall not have any rights with respect to such Award, unless and until such
recipient has executed an agreement evidencing the Award (a "Deferred Stock
Award Agreement" or "Restricted Stock Award Agreement" as appropriate) and has
delivered a fully executed copy thereof to the Company, within a period of sixty
days (or such other period as the Administrator may specify) after the Award
date.

     Except as provided below in this paragraph (b) of Section 6, (i) each
Participant who is awarded Restricted Stock shall be issued a stock certificate
in respect of such shares of Restricted Stock; and (ii) such certificate shall
be registered in the name of the Participant, and shall bear an appropriate
legend referring to the terms, conditions, and restrictions applicable to such
Award, substantially in the following form:

     "The transferability of this certificate and the shares of stock
represented hereby are subject to the terms and conditions (including
forfeiture) of the Riddle Records, Inc. 2003 Stock Option, Deferred Stock and
Restricted Stock Plan and a Restricted Stock Award Agreement entered into
between the registered owner and Riddle Records, Inc. Copies of such Plan and
Agreement are on file in the offices of Riddle Records, Inc."

                                        8
<PAGE>

     The Company shall require that the stock certificates evidencing such
shares be held in the custody of the Company until the restrictions thereon
shall have lapsed, and, as a condition of any Restricted Stock award, the
Participant shall have delivered a stock power, endorsed in blank, relating to
the Stock covered by such Award.

     With respect to Deferred Stock awards, at the expiration of the Restricted
Period, stock certificates in respect of such shares of Deferred Stock shall be
delivered to the Participant, or his legal representative, in a number equal to
the shares of Stock covered by the Deferred Stock award.

     (c) The Deferred Stock or Restricted Stock awards granted pursuant to this
Section 6 shall be subject to the following restrictions and conditions:

          (i) Subject to the provisions of the Plan and the Deferred Stock or
     Restricted Stock Award Agreements, during such period as may be set by the
     Administrator commencing on the grant date (the "Restricted Period"), the
     Participant shall not be permitted to sell, transfer, pledge or assign
     shares of Deferred Stock or Restricted Stock awarded under the Plan other
     than by will or the laws of descent and distribution. Within these limits,
     the Administrator may, in its sole discretion, provide for the lapse of
     such restrictions in installments and may accelerate or waive such
     restrictions in whole or in part based on such factors and such
     circumstances as the Administrator may determine, in its sole discretion,
     including, but not limited to, the attainment of certain performance
     related goals, the Participant's termination, death or Disability or the
     occurrence of a "Change of Control" as defined in Section 9 below;
     provided, however, that the restriction on transferability referenced as
     above may not be waived.

          (ii) Except as provided in paragraph (c)(i) of this Section 6, the
     Participant shall have, with respect to the shares of Restricted Stock, all
     of the rights of a stockholder of the Company, including the right to vote
     the shares, and the right to receive any dividends thereon during the
     Restricted Period. With respect to Deferred Stock awards, the Participant
     shall generally not have the rights of a stockholder of the Company,
     including the right to vote the shares during the Restricted Period;
     provided, however, that dividends declared during the Restricted Period
     with respect to the number of shares covered by a Deferred Stock award
     shall be paid to the Participant. Certificates for shares of unrestricted
     Stock shall be delivered to the Participant promptly after, and only after,
     the Restricted Period shall expire without forfeiture in respect of such
     shares of Deferred Stock or Restricted Stock, except as the Administrator,
     in its sole discretion, shall otherwise determine.

          (iii) Subject to the provisions of the Deferred Stock or Restricted
     Stock Award Agreement and this Section 6, upon termination of employment
     for any reason during the Restricted Period, all shares subject to any
     restriction as of the date of such termination shall be forfeited by the
     Participant, and the Participant shall only receive the amount, if any,
     paid by the Participant for such Deferred Stock or Restricted Stock, plus
     simple interest on such amount at the rate of 6% per year.

Section 7.        Amendment and Termination.

     (a) The Board may amend, alter or discontinue the Plan, but no amendment,
alteration, or discontinuation shall be made that would impair the rights of the
Participant under any Award theretofore granted without such Participant's
consent, or that without the approval of the stockholders (as described below)
would:

                                        9
<PAGE>

          (i) except as provided in Section 3, increase the total number of
     shares of Stock reserved for the purpose of the Plan;

          (ii) change the employees or class of employees eligible to
     participate in the Plan;

          (iii) extend the maximum option period under Section 5 of the Plan.

     (b) Notwithstanding the foregoing, stockholder approval under this Section
7 shall only be required at such time and under such circumstances as
stockholder approval would be required under applicable federal and state laws,
regulations and exchange or listing requirements.

     (c) The Administrator may amend the terms of any Award theretofore granted,
prospectively or retroactively, but, subject to Section 3, no such amendment
shall impair the rights of any holder without his or her consent.

Section 8.        Unfunded Status of Plan.

     The Plan is intended to constitute an "unfunded" plan for incentive
compensation. With respect to any payments not yet made to a Participant or
optionee by the Company, nothing contained herein shall give any such
Participant or optionee any rights that are greater than those of a general
creditor of the Company.

Section 9.        Change of Control.

     The following acceleration and valuation provisions shall apply in the
event of a "Change of Control", as defined in paragraph (b) of this Section 9:

     (a) In the event of a "Change of Control," (but prior to such Change of
Control, as applicable) the Board may, without limitation and in its sole and
absolute discretion, do any, or any combination, of the following:

          (i) declare that the restrictions applicable to any Restricted Stock
     or Deferred Stock awards under the Plan shall lapse in full or in part, and
     that such shares and Awards shall be deemed fully or partially vested;

          (ii) declare that some or all indebtedness incurred pursuant to
     paragraph (e) of Section 5 above shall be forgiven and the collateral
     pledged in connection with any such loan shall be released in full or in
     part;

          (iii) declare that the value of all or some of the outstanding Awards
     shall, to the extent determined by the Administrator at or after grant, be
     cashed out by a payment of cash or other property, as the Administrator may
     determine, on the basis of the "Change of Control Price" (as defined in
     paragraph (c) of this Section 9) as of the date the Change of Control
     occurs or such other date as the Administrator may determine prior to the
     Change of Control; or

                                       10
<PAGE>

          (iv) permit the successor corporation (in the event of a Change of
     Control pursuant to subparagraph (b)(ii) of this Section 9), pursuant to a
     written agreement signed by the parties, to substitute equivalent Awards or
     provide substantially similar consideration to Participants as was or will
     be provided to stockholders after making any appropriate adjustment as such
     parties deem necessary or appropriate for restrictions attaching to such
     Awards, including, but not limited to, vesting and exercise price.

     A Participant's individual Award may, but is not required to, provide what
occurs upon a Change of Control. To the extent a Participant's individual Award
determines what occurs upon a Change of Control, the terms of such Award shall
be dispositive in the event of a Change of Control.

     (b) For purposes of paragraph (a) of this Section 9, a "Change of Control"
shall be deemed to have occurred if:

          (i) any "person," as such term is used in Sections 13(d) and 14(d) of
     the Exchange Act (other than the Company; any trustee or other fiduciary
     holding securities under an employee benefit plan of the Company; or any
     company owned, directly or indirectly, by the stockholders of the Company
     in substantially the same proportions as their ownership of the Stock of
     the Company) is or becomes after the Effective Date the "beneficial owner"
     (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
     of securities of the Company (not including in the securities beneficially
     owned by such person or any securities acquired directly from the Company
     or its affiliates) representing 50% or more of the combined voting power of
     the Company's then outstanding securities; or

          (ii) the stockholders of the Company approve a merger or consolidation
     of the Company with any other corporation, other than (A) a merger or
     consolidation which would result in the voting securities of the Company
     outstanding immediately prior thereto continuing to represent (either by
     remaining outstanding or by being converted into voting securities of the
     surviving entity), in combination with the ownership of any trustee or
     other fiduciary holding securities under an employee benefit plan of the
     Company, at least 75% of the combined voting power of the voting securities
     of the Company or such surviving entity outstanding immediately after such
     merger or consolidation or (B) a merger or consolidation effected to
     implement a recapitalization of the Company (or similar transaction) in
     which no person acquires more than 50% of the combined voting power of the
     Company's then outstanding securities; or

          (iii) the stockholders of the Company approve a plan of complete
     liquidation of the Company or an agreement for the sale or disposition by
     the Company of all or substantially all of the Company's assets.

     (c) For purposes of this Section 9, "Change of Control Price" means the
higher of (i) the highest price per share paid or offered in any transaction
related to a Change of Control of the Company or (ii) the highest price per
share paid in any transaction reported on the exchange or national market system

                                       11
<PAGE>

on which the Stock is listed, at any time during the preceding sixty day period
as determined by the Administrator, except that, in the case of Incentive Stock
Options, such price shall be based only on transactions reported for the date on
which the Administrator decides to cash out such options.

Section 10.       General Provisions.

     (a) The Administrator may require each person granted Awards to represent
to and agree with the Company in writing that such person is acquiring the
shares without a view to distribution thereof. The certificates for such shares
may include any legend which the Administrator deems appropriate to reflect any
restrictions on transfer.

     All certificates for shares of Stock delivered under the Plan shall be
subject to such stop-transfer orders and other restrictions as the Administrator
may deem advisable under the rules, regulations, and other requirements of the
Commission, any stock exchange or national market system upon which the Stock is
then listed, and any applicable Federal or state securities law, and the
Administrator may cause a legend or legends to be placed on any such
certificates to make appropriate reference to such restrictions.

     (b) Nothing contained in the Plan shall prevent the Board from adopting
other or additional compensation arrangements, subject to stockholder approval
if such approval is required; and such arrangements may be either generally
applicable or applicable only in specific cases.

     (c) Each Participant shall, no later than the date as of which the value of
an Award first becomes includable in the gross income of the Participant for
Federal income tax purposes, pay to the Company, or make arrangements
satisfactory to the Administrator regarding payment of, any Federal, state, or
local taxes of any kind required by law to be withheld with respect to the
Award. The obligations of the Company under the Plan shall be conditional on the
making of such payments or arrangements, and the Company shall, to the extent
permitted by law, have the right to deduct any such taxes from any payment of
any kind otherwise due to the Participant.

     (d) No member of the Board or the Administrator, nor any officer or
employee of the Company acting on behalf of the Board or the Administrator,
shall be personally liable for any action, determination, or interpretation
taken or made in good faith with respect to the Plan, and all members of the
Board or the Administrator and each and any officer or employee of the Company
acting on their behalf shall, to the extent permitted by law, be fully
indemnified and protected by the Company in respect of any such action,
determination or interpretation.

     (e) This Plan is purely voluntary on the part of the Company, and while the
Company hopes to continue it indefinitely, the continuance of the Plan shall not
be deemed to constitute a contract between the Company and any employee or other
person, or to be consideration for or a condition of the employment of any
employee. Nothing contained in the Plan shall be deemed to give any employee the
right to be retained in the employ of the Company, to interfere with the right
of the Company to discharge or retire any employee thereof at any time. No
employee shall have any right to or interest in Awards authorized hereunder
prior to the grant of such Awards to such employee, and upon such grant he or
she shall have only such rights and interests as are expressly provided herein,
subject, however, to all applicable provisions of the Company's Certificate of
Incorporation, as the same may be amended from time to time.

                                       12
<PAGE>

     (f) The Company shall deliver a balance sheet and an income statement at
least annually to each individual holding an outstanding Stock Option or Award
under the Plan, unless such individual is a key employee whose duties with the
Company (or any parent or subsidiary of the Company) assures such individual
access to equivalent information.

Section 11.       Specific Performance.

     The Stock Options granted under this Plan and the Shares issued pursuant to
the exercise of such Stock Options cannot be readily purchased or sold in the
open market, and, for that reason among others, the Company and its stockholders
will be irreparably damaged in the event that this Plan is not specifically
enforced. In the event of any controversy concerning the right or obligation to
purchase or sell any such Stock Option, such right or obligation shall be
enforceable in a court of equity by a decree of a specific performance. Such
remedy shall, however, be cumulative and not exclusive, and shall be in addition
to any other remedy which the parties may have.

Section 12.       Invalid Provision.

     In the event that any provision of this Plan is found to be invalid or
otherwise unenforceable under any applicable law, such invalidity or
unenforceability shall not be construed as rendering any other provisions
contained herein invalid or unenforceable, and all such other provisions shall
be given full force and effect to the same extent as though the invalid
unenforceable provision was not contained herein.

Section 13.       Applicable Law.

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

Section 14.       Successors and Assigns.

     This Plan shall be binding on and inure to the benefit of the Company and
the employees to whom an Award is granted hereunder, and such employees' heirs,
executors, administrators, legatees, personal representatives, assignees and
transferees.

Section 15.       Effective Date of Plan.

     The Plan became effective (the "Effective Date") on November 21, 2003.

                                       13
<PAGE>

Section 16.       Term of Plan.

     No Stock Option, Deferred Stock or Restricted Stock award shall be granted
pursuant to the Plan on or after the tenth anniversary of the Effective Date,
but Awards theretofore granted may extend beyond that date.

     IN WITNESS WHEREOF, pursuant to the due authorization and adoption of this
Plan by the Board on the day and year first above written, the Company has
caused this Plan to be duly executed by its duly authorized officer.

                                         Riddle Records, Inc.,
                                         a Nevada corporation

                                         By:         /s/ Jacques Tizabi
                                                     ---------------------------
                                         Name:       Jacques Tizabi
                                         Title:      Chief Executive Officer

                                       14

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