Document:

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                                                                   EXHIBIT 10.21

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                       ADAMS RESPIRATORY THERAPEUTICS, INC.
                               2005 INCENTIVE PLAN

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                       ADAMS RESPIRATORY THERAPEUTICS, INC.
                               2005 INCENTIVE PLAN

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ARTICLE 1 PURPOSE...........................................................   1

     1.1  General...........................................................   1

ARTICLE 2 DEFINITIONS.......................................................   1

     2.1  Definitions.......................................................   1

ARTICLE 3 EFFECTIVE TERM OF PLAN............................................   8

     3.1  Effective Date....................................................   8

     3.2  Term of Plan......................................................   8

ARTICLE 4 ADMINISTRATION....................................................   8

     4.1  Committee.........................................................   8

     4.2  Actions and Interpretations by the Committee......................   9

     4.3  Authority of Committee............................................   9

     4.4  Award Certificates................................................  10

ARTICLE 5 SHARES SUBJECT TO THE PLAN........................................  10

     5.1  Number of Shares..................................................  10

     5.2  Share Counting....................................................  11

     5.3  Stock Distributed.................................................  11

ARTICLE 6 ELIGIBILITY.......................................................  11

     6.1  General...........................................................  11

ARTICLE 7 STOCK OPTIONS.....................................................  12

     7.1  General...........................................................  12

     7.2  Incentive Stock Options...........................................  12

ARTICLE 8 STOCK APPRECIATION RIGHTS.........................................  14

     8.1  Grant of Stock Appreciation Rights................................  14

ARTICLE 9 PERFORMANCE AWARDS................................................  14

     9.1  Grant of Discretionary Performance Awards.........................  14

     9.2  Performance Goals.................................................  15

     9.3  Right to Payment..................................................  15
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     9.4   Other Terms......................................................  15

ARTICLE 10 RESTRICTED STOCK AND RESTRICTED STOCK UNIT AWARDS................  16

     10.1  Grant of Restricted Stock and Restricted Stock Units.............  16

     10.2  Issuance and Restrictions........................................  16

     10.3  Forfeiture.......................................................  16

     10.4  Delivery of Restricted Stock.....................................  16

ARTICLE 11 DEFERRED STOCK UNITS.............................................  16

     11.1  Grant of Deferred Stock Units....................................  16

ARTICLE 12 DIVIDEND EQUIVALENTS.............................................  17

     12.1  Grant of Dividend Equivalents....................................  17

ARTICLE 13 STOCK OR OTHER STOCK-BASED AWARDS................................  17

     13.1  Grant of Stock or Other Stock-Based Awards.......................  17

ARTICLE 14 PROVISIONS APPLICABLE TO AWARDS..................................  17

     14.1  Stand-Alone and Tandem Awards....................................  17

     14.2  Term of Awards...................................................  17

     14.3  Form of Payment of Awards........................................  18

     14.4  Limits on Transfer...............................................  18

     14.5  Beneficiaries....................................................  18

     14.6  Stock Certificates...............................................  18

     14.7  Effect of a Change in Control....................................  19

     14.8  Discretionary Acceleration.......................................  20

     14.9  Termination of Employment........................................  20

     14.10 Deferral.........................................................  20

     14.11 Forfeiture Events................................................  21

     14.12 Substitute Awards................................................  21

ARTICLE 15 CHANGES IN CAPITAL STRUCTURE.....................................  21

     15.1  General..........................................................  21

ARTICLE 16 AMENDMENT, MODIFICATION AND TERMINATION..........................  22

     16.1  AMENDMENT, MODIFICATION AND TERMINATION..........................  22
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     16.2  AWARDS PREVIOUSLY GRANTED........................................  22

ARTICLE 17 GENERAL PROVISIONS...............................................  23

     17.1  No Rights to Awards; Non-Uniform Determinations..................  23

     17.2  No Shareholder Rights............................................  23

     17.3  Withholding......................................................  23

     17.4  No Right to Continued Service....................................  24

     17.5  Unfunded Status of Awards........................................  24

     17.6  Relationship to Other Benefits...................................  24

     17.7  Expenses.........................................................  24

     17.8  Titles and Headings..............................................  24

     17.9  Gender and Number................................................  24

     17.10 Fractional Shares................................................  24

     17.11 Government and Other Regulations.................................  24

     17.12 Governing Law....................................................  25

     17.13 Additional Provisions............................................  25

     17.14 No Limitations on Rights of Company..............................  25

     17.15 Indemnification..................................................  26
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                      ADAMS RESPIRATORY THERAPEUTICS, INC.
                               2005 INCENTIVE PLAN

                                    ARTICLE 1
                                     PURPOSE

      1.1. GENERAL. The purpose of the Adams Respiratory Therapeutics, Inc. 2005
Incentive Plan (the "Plan") is to promote the success, and enhance the value, of
Adams Respiratory Therapeutics, Inc. (the "Company"), by linking the personal
interests of employees, officers, directors and consultants of the Company or
any Affiliate (as defined below) to those of Company shareholders and by
providing such persons with an incentive for outstanding performance. The Plan
is further intended to provide flexibility to the Company in its ability to
motivate, attract, and retain the services of employees, officers, directors and
consultants upon whose judgment, interest, and special effort the successful
conduct of the Company's operation is largely dependent. Accordingly, the Plan
permits the grant of incentive awards from time to time to selected employees,
officers, directors and consultants of the Company and its Affiliates.

                                    ARTICLE 2
                                   DEFINITIONS

      2.1. DEFINITIONS. When a word or phrase appears in this Plan with the
initial letter capitalized, and the word or phrase does not commence a sentence,
the word or phrase shall generally be given the meaning ascribed to it in this
Section or in Section 1.1 unless a clearly different meaning is required by the
context. The following words and phrases shall have the following meanings:

            (a) "Affiliate" means (i) any Subsidiary or Parent, or (ii) an
      entity that directly or through one or more intermediaries controls, is
      controlled by or is under common control with, the Company, as determined
      by the Committee.

            (b) "Award" means any Option, Stock Appreciation Right, Restricted
      Stock Award, Restricted Stock Unit Award, Deferred Stock Unit Award,
      Performance Award, Dividend Equivalent Award, Other Stock-Based Award,
      Performance-Based Cash Awards, or any other right or interest relating to
      Stock or cash, granted to a Participant under the Plan.

            (c) "Award Certificate" means a written document, in such form as
      the Committee prescribes from time to time, setting forth the terms and
      conditions of an Award. Award Certificates may be in the form of
      individual award agreements or certificates or a program document
      describing the terms and provisions of an Awards or series of Awards under
      the Plan.

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

            (e) "Cause" as a reason for a Participant's termination of
      employment shall have the meaning assigned such term in the employment,
      severance or similar agreement, if any, between such Participant and the
      Company or an Affiliate, provided, however that if there is no such
      employment, severance or similar agreement in which such term is defined,
      and unless otherwise defined in the applicable Award Certificate, "Cause"
      shall mean any of the following acts by the Participant, as determined by
      the Committee or the Board: gross neglect of duty, fraud, prolonged
      absence from duty without the consent of the Company, intentionally
      engaging in any activity that is in conflict with or adverse to the
      business or other interests of the Company, or willful misconduct,
      misfeasance or malfeasance of duty which is reasonably determined to be
      detrimental to the Company.

            (f) "Change in Control" means and includes the occurrence of any one
      of the following events but shall specifically exclude a Public Offering:

                  (i) individuals who, on the Effective Date, constitute the
            Board of Directors of the Company (the "Incumbent Directors") cease
            for any reason to constitute at least a majority of such Board,
            provided that any person becoming a director after the Effective
            Date and whose election or nomination for election was approved by a
            vote of at least a majority of the Incumbent Directors then on the
            Board shall be an Incumbent Director; provided, however, that no
            individual initially elected or nominated as a director of the
            Company as a result of an actual or threatened election contest with
            respect to the election or removal of directors ("Election Contest")
            or other actual or threatened solicitation of proxies or consents by
            or on behalf of any Person other than the Board ("Proxy Contest"),
            including by reason of any agreement intended to avoid or settle any
            Election Contest or Proxy Contest, shall be deemed an Incumbent
            Director; or

                  (ii) any person becomes a "beneficial owner" (as defined in
            Rule 13d-3 under the 1934 Act), directly or indirectly, of either
            (A) 40% or more of the then-outstanding shares of common stock of
            the Company ("Company Common Stock") or (B) securities of the
            Company representing 40% or more of the combined voting power of the
            Company's then outstanding securities eligible to vote for the
            election of directors (the "Company Voting Securities"); provided,
            however, that for purposes of this subsection (ii), the following
            acquisitions of Company Common Stock or Company Voting Securities
            shall not constitute a Change in Control: (w) an acquisition
            directly from the Company, (x) an acquisition by the Company or a
            Subsidiary of the Company, (y) an acquisition by any employee
            benefit plan (or related trust) sponsored or

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            maintained by the Company or any Subsidiary of the Company, or (z)
            an acquisition pursuant to a Non-Qualifying Transaction (as defined
            in subsection (iii) below); or

                  (iii) the consummation of a reorganization, merger,
            consolidation, statutory share exchange or similar form of corporate
            transaction involving the Company or a Subsidiary (a
            "Reorganization"), or the sale or other disposition of all or
            substantially all of the Company's assets (a "Sale") or the
            acquisition of assets or stock of another corporation or other
            entity (an "Acquisition"), unless immediately following such
            Reorganization, Sale or Acquisition: (A) all or substantially all of
            the individuals and entities who were the beneficial owners,
            respectively, of the outstanding Company Common Stock and
            outstanding Company Voting Securities immediately prior to such
            Reorganization, Sale or Acquisition beneficially own, directly or
            indirectly, more than 50% of, respectively, the then outstanding
            shares of common stock and the combined voting power of the then
            outstanding voting securities entitled to vote generally in the
            election of directors, as the case may be, of the entity resulting
            from such Reorganization, Sale or Acquisition (including, without
            limitation, an entity which as a result of such transaction owns the
            Company or all or substantially all of the Company's assets or stock
            either directly or through one or more subsidiaries, the "Surviving
            Entity") in substantially the same proportions as their ownership,
            immediately prior to such Reorganization, Sale or Acquisition, of
            the outstanding Company Common Stock and the outstanding Company
            Voting Securities, as the case may be, and (B) no person (other than
            (x) the Company or any Subsidiary of the Company, (y) the Surviving
            Entity or its ultimate parent entity, or (z) any employee benefit
            plan (or related trust) sponsored or maintained by any of the
            foregoing is the beneficial owner, directly or indirectly, of 40% or
            more of the total common stock or 40% or more of the total voting
            power of the outstanding voting securities eligible to elect
            directors of the Surviving Entity, and (C) at least a majority of
            the members of the board of directors of the Surviving Entity were
            Incumbent Directors at the time of the Board's approval of the
            execution of the initial agreement providing for such
            Reorganization, Sale or Acquisition (any Reorganization, Sale or
            Acquisition which satisfies all of the criteria specified in (A),
            (B) and (C) above shall be deemed to be a "Non-Qualifying
            Transaction"); or

                  (iv) approval by the shareholders of the Company of a complete
            liquidation or dissolution of the Company.

                  Notwithstanding the foregoing, for any Awards that constitute
            a nonqualified deferred compensation plan within the meaning of
            Section 409A(d) of the Code, Change in Control shall have the same
            meaning as

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            set forth in any regulations, revenue procedure or revenue rulings
            issued by the Secretary of the United States Treasury applicable to
            such plans.

            (g) "Code" means the Internal Revenue Code of 1986, as amended from
      time to time, and includes a reference to the underlying final
      regulations.

            (h) "Committee" means the committee of the Board described in
      Article 4.

            (i) "Company" means Adams Respiratory Therapeutics, Inc., a Texas
      corporation, or any successor corporation.

            (j) "Continuous Status as a Participant" means the absence of any
      interruption or termination of service as an employee, officer, consultant
      or director of the Company or any Affiliate, as applicable; provided,
      however, that for purposes of an Incentive Stock Option, or a Stock
      Appreciation Right issued in tandem with an Incentive Stock Option,
      "Continuous Status as a Participant" means the absence of any interruption
      or termination of service as an employee of the Company or any Parent or
      Subsidiary, as applicable, pursuant to applicable tax regulations.
      Continuous Status as a Participant shall continue to the extent provided
      in a written severance or employment agreement during any period for which
      severance compensation payments are made to an employee, officer,
      consultant or director and shall not be considered interrupted in the case
      of any short-term disability or leave of absence authorized in writing by
      the Company prior to its commencement; provided, however, that for
      purposes of Incentive Stock Options, no such leave may exceed 90 days,
      unless reemployment upon expiration of such leave is guaranteed by statute
      or contract. If reemployment upon expiration of a leave of absence
      approved by the Company is not so guaranteed, on the 91st day of such
      leave any Incentive Stock Option held by the Participant shall cease to be
      treated as an Incentive Stock Option and shall be treated for tax purposes
      as a Nonstatutory Stock Option. Notwithstanding the foregoing, for any
      Awards that constitute a nonqualified deferred compensation plan within
      the meaning of Section 409A(d) of the Code, Continuous Status as a
      Participant shall mean the absence of any "separation from service" or
      similar concept as set forth in any regulations, revenue procedure or
      revenue rulings issued by the Secretary of the United States Treasury
      applicable to such plans.

            (k) "Deferred Stock Unit" means a right granted to a Participant
      under Article 11.

            (l) "Disability" or "Disabled" has the same meaning as provided in
      the long-term disability plan or policy maintained by the Company or if
      applicable, most recently maintained, by the Company or if applicable, an
      Affiliate, for the Participant, whether or not such Participant actually
      receives disability benefits under such plan or policy. If no long-term
      disability plan or policy was ever

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      maintained on behalf of Participant or if the determination of Disability
      relates to an Incentive Stock Option, or a Stock Appreciation Right issued
      in tandem with an Incentive Stock Option, Disability means Permanent and
      Total Disability as defined in Section 22(e)(3) of the Code. In the event
      of a dispute, the determination whether a Participant is Disabled will be
      made by the Committee and may be supported by the advice of a physician
      competent in the area to which such Disability relates. Notwithstanding
      the foregoing, for any Awards that constitute a nonqualified deferred
      compensation plan within the meaning of Section 409A(d) of the Code,
      Disability shall have the same meaning as set forth in any regulations,
      revenue procedure or revenue rulings issued by the Secretary of the United
      States Treasury applicable to such plans.

            (m) "Dividend Equivalent" means a right granted to a Participant
      under Article 12.

            (n) "Effective Date" has the meaning assigned such term in Section
      3.1.

            (o) "Eligible Participant" means an employee, officer, consultant or
      director of the Company or any Affiliate.

            (p) "Exchange" means the New York Stock Exchange or any other
      national securities exchange or, if applicable, the Nasdaq National Market
      on which the Stock may from time to time be listed or traded.

            (q) "Fair Market Value", on any date, means (i) if the Stock is
      listed on a securities exchange or is traded over the Nasdaq National
      Market, the closing sales price on such exchange or over such system on
      such date or, in the absence of reported sales on such date, the closing
      sales price on the immediately preceding date on which sales were
      reported, or (ii) if the Stock is not listed on a securities exchange or
      traded over the Nasdaq National Market, the mean between the bid and
      offered prices as quoted by Nasdaq for such date, provided that if it is
      determined that the fair market value is not properly reflected by such
      Nasdaq quotations, Fair Market Value will be determined by such other
      method as the Committee determines in good faith to be reasonable.

            (r) "Good Reason" has the meaning assigned such term in the
      employment, severance or similar agreement, if any, between a Participant
      and the Company or an Affiliate, unless otherwise defined in the
      applicable Award Certificate.

            (s) "Grant Date" of an Award means the first date on which all
      necessary corporate action has been taken to approve the grant of the
      Award as provided in the Plan, or such later date as is determined and
      specified as part of that authorization process. Notice of the grant shall
      be provided to the grantee

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      within a reasonable time after the Grant Date.

            (t) "Incentive Stock Option" means an Option that is intended to be
      an incentive stock option and meets the requirements of Section 422 of the
      Code or any successor provision thereto.

            (u) "Non-Employee Director" means a director of the Company who is
      not a common law employee of the Company or any Affiliate.

            (v) "Nonstatutory Stock Option" means an Option that is not an
      Incentive Stock Option.

            (w) "Option" means a right granted to a Participant under Article 7
      of the Plan to purchase Stock at a specified price during specified time
      periods. An Option may be either an Incentive Stock Option or a
      Nonstatutory Stock Option.

            (x) "Other Stock-Based Award" means a right, granted to a
      Participant under Article 13, that relates to or is valued by reference to
      Stock or other Awards relating to Stock.

            (y) "Parent" means a corporation, limited liability company,
      partnership or other entity which owns or beneficially owns a majority of
      the outstanding voting stock or voting power of the Company.
      Notwithstanding the above, with respect to an Incentive Stock Option,
      Parent shall have the meaning set forth in Section 424(e) of the Code.

            (z) "Participant" means a person who, as an employee, officer,
      Non-Employee Director or consultant of the Company or any Affiliate, has
      been granted an Award under the Plan; provided that in the case of the
      death of a Participant, the term "Participant" refers to a beneficiary
      designated pursuant to Section 14.5 or the legal guardian or other legal
      representative acting in a fiduciary capacity on behalf of the Participant
      under applicable state law and court supervision.

            (aa) "Performance Award" means Performance Shares or Performance
      Units or Performance-Based Cash Awards granted pursuant to Article 9.

            (z) "Performance-Based Cash Award" means a right granted to a
      Participant under Article 9 to a cash award to be paid upon achievement of
      such performance goals as the Committee establishes with regard to such
      Award.

            (aa) "Performance Share" means any right granted to a Participant
      under Article 9 to a unit to be valued by reference to a designated number
      of Shares to be paid upon achievement of such performance goals as the
      Committee establishes with regard to such Performance Share.

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            (bb) "Performance Unit" means a right granted to a Participant under
      Article 9 to a unit valued by reference to a designated amount of cash or
      property other than Shares, to be paid to the Participant upon achievement
      of such performance goals as the Committee establishes with regard to such
      Performance Unit.

            (cc) "Person" means any individual, entity or group, within the
      meaning of Section 3(a)(9) of the 1934 Act and as used in Section 13(d)(3)
      or 14(d)(2) of the 1934 Act.

            (dd) "Plan" means the Adams Respiratory Therapeutics, Inc. 2005
      Incentive Plan, as amended from time to time.

            (ee) "Public Offering" shall occur on closing date of a public
      offering of any class or series of the Company's equity securities
      pursuant to a registration statement filed by the Company under the 1933
      Act.

            (ff) "Restricted Stock Award" means Stock granted to a Participant
      under Article 10 that is subject to certain restrictions and to risk of
      forfeiture.

            (gg) "Restricted Stock Unit Award" means the right granted to a
      Participant under Article 10 to receive shares of Stock (or the equivalent
      value in cash or other property if the Committee so provides) in the
      future, which right is subject to certain restrictions and to risk of
      forfeiture.

            (hh) "Retirement" means a Participant's voluntary termination of
      employment other than for Cause at or after age sixty-five (65) or such
      earlier date after age fifty-five (55) as may be approved by the Committee
      with regard to such Participant. With respect to a Non-Employee Director,
      Retirement means the failure to stand for reelection or the failure to be
      reelected on or after a Participant has attained age sixty-five (65).

            (ii) "Shares" means shares of the Company's Stock. If there has been
      an adjustment or substitution pursuant to Section 15.1, the term "Shares"
      shall also include any shares of stock or other securities that are
      substituted for Shares or into which Shares are adjusted pursuant to
      Section 15.1.

            (jj) "Stock" means the $.01 par value common stock of the Company
      and such other securities of the Company as may be substituted for Stock
      pursuant to Article 15.

            (kk) "Stock Appreciation Right" or "SAR" means a right granted to a
      Participant under Article 8 to receive a payment equal to the difference
      between the Fair Market Value of a Share as of the date of exercise of the
      SAR over the

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      grant price of the SAR, all as determined pursuant to Article 8.

            (ll) "Subsidiary" means any corporation, limited liability company,
      partnership or other entity of which a majority of the outstanding voting
      stock or voting power is beneficially owned directly or indirectly by the
      Company. Notwithstanding the above, with respect to an Incentive Stock
      Option, Subsidiary shall have the meaning set forth in Section 424(f) of
      the Code.

            (mm) "1933 Act" means the Securities Act of 1933, as amended from
      time to time.

            (nn) "1934 Act" means the Securities Exchange Act of 1934, as
      amended from time to time.

                                    ARTICLE 3
                             EFFECTIVE TERM OF PLAN

      3.1. EFFECTIVE DATE. The Plan was adopted by the Board on March 21, 2005
and by the shareholders of the Company on May 31, 2005. The Plan became
effective as of the date of approval by the shareholders (the "Effective Date").

      3.2. TERMINATION OF PLAN. The Plan shall terminate on the tenth
anniversary of the Effective Date unless earlier terminated as provided herein.
The termination of the Plan on such date shall not affect the validity of any
Award outstanding on the date of termination.

                                    ARTICLE 4
                                 ADMINISTRATION

      4.1. COMMITTEE. The Plan shall be administered by a Committee appointed by
the Board (which Committee shall consist of at least two directors) or, at the
discretion of the Board from time to time, the Plan may be administered by the
Board. It is intended that at least two of the directors appointed to serve on
the Committee shall be "non-employee directors" (within the meaning of Rule
16b-3 promulgated under the 1934 Act) and that any such members of the Committee
who do not so qualify shall abstain from participating in any decision to make
or administer Awards that are made to Eligible Participants who at the time of
consideration for such Award are persons subject to the short-swing profit rules
of Section 16 of the 1934 Act. It is further intended that all members of the
Committee be "independent" directors within the meaning of the rules of the
Exchange. However, the mere fact that a Committee member shall fail to qualify
under the foregoing requirements or shall fail to abstain from such action shall
not invalidate any Award made by the Committee which Award is otherwise validly
made under the Plan. The members of the Committee shall be appointed by, and may
be changed at any time and from time to time in the discretion of, the Board.
The Board may reserve to itself any or all of the authority and responsibility
of the Committee under

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the Plan or may act as administrator of the Plan for any and all purposes. To
the extent the Board has reserved any authority and responsibility or during any
time that the Board is acting as administrator of the Plan, it shall have all
the powers of the Committee hereunder, and any reference herein to the Committee
(other than in this Section 4.1) shall include the Board. To the extent any
action of the Board under the Plan conflicts with actions taken by the
Committee, the actions of the Board shall control.

      4.2. ACTION AND INTERPRETATIONS BY THE COMMITTEE. For purposes of
administering the Plan, the Committee may from time to time adopt rules,
regulations, guidelines and procedures for carrying out the provisions and
purposes of the Plan and make such other determinations, not inconsistent with
the Plan, as the Committee may deem appropriate. The Committee's interpretation
of the Plan, any Awards granted under the Plan, any Award Certificate and all
decisions and determinations by the Committee with respect to the Plan are
final, binding, and conclusive on all parties. Each member of the Committee is
entitled to, in good faith, rely or act upon any report or other information
furnished to that member by any officer or other employee of the Company or any
Affiliate, the Company's or an Affiliate's independent certified public
accountants, Company counsel or any executive compensation consultant or other
professional retained by the Company to assist in the administration of the
Plan.

      4.3. AUTHORITY OF COMMITTEE. Except as provided below, the Committee has
the exclusive power, authority and discretion to:

            (a) Grant Awards;

            (b) Designate Participants;

            (c) Determine the type or types of Awards to be granted to each
      Participant;

            (d) Determine the number of Awards to be granted and the number of
      Shares or dollar amount to which an Award will relate;

            (e) Determine the terms and conditions of any Award granted under
      the Plan, including but not limited to, the exercise price, grant price,
      or purchase price, any restrictions or limitations on the Award, any
      schedule for lapse of forfeiture restrictions or restrictions on the
      exercisability of an Award, and accelerations or waivers thereof, based in
      each case on such considerations as the Committee in its sole discretion
      determines;

            (f) Accelerate the vesting, exercisability or lapse of restrictions
      of any outstanding Award, in accordance with Article 14, based in each
      case on such considerations as the Committee in its sole discretion
      determines;

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            (g) Determine whether, to what extent, and under what circumstances
      an Award may be settled in, or the exercise price of an Award may be paid
      in, cash, Stock, other Awards, or other property, or an Award may be
      canceled, forfeited, or surrendered;

            (h) Prescribe the form of each Award Certificate, which need not be
      identical for each Participant;

            (i) Decide all other matters that must be determined in connection
      with an Award;

            (j) Establish, adopt or revise any rules, regulations, guidelines or
      procedures as it may deem necessary or advisable to administer the Plan;

            (k) Make all other decisions and determinations that may be required
      under the Plan or as the Committee deems necessary or advisable to
      administer the Plan;

            (l) Amend the Plan or any Award Certificate as provided herein; and

            (m) Adopt such modifications, procedures, and subplans as may be
      necessary or desirable to comply with provisions of the laws of non-U.S.
      jurisdictions in which the Company or any Affiliate may operate, in order
      to assure the viability of the benefits of Awards granted to participants
      located in such other jurisdictions and to meet the objectives of the
      Plan.

      Notwithstanding the above, the Board or the Committee may expressly
delegate to a special committee consisting of one or more directors who are also
officers of the Company some or all of the Committee's authority under
subsections (a) through (i) above, except that no delegation of its duties and
responsibilities may be made to officers of the Company with respect to Awards
to Eligible Participants who are, or who are anticipated to become, subject to
the short-swing profit rules of Section 16 of the 1934 Act. The acts of such
delegates shall be treated hereunder as acts of the Committee and such delegates
shall report to the Committee regarding the delegated duties and
responsibilities.

      4.4. AWARD CERTIFICATES. Each Award shall be evidenced by an Award
Certificate. Each Award Certificate shall include such provisions, not
inconsistent with the Plan, as may be specified by the Committee.

                                    ARTICLE 5
                           SHARES SUBJECT TO THE PLAN

      5.1. NUMBER OF SHARES. Subject to adjustment as provided in Sections 5.2
and 15.1, the aggregate number of Shares reserved and available for issuance
pursuant

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 to Awards granted under the Plan shall be 7,800,000. The maximum number of
Shares that may be issued upon exercise of Incentive Stock Options granted under
the Plan shall be 7,800,000.

      5.2. SHARE COUNTING.

            (a) To the extent that an Award is canceled, terminates, expires, is
      forfeited or lapses for any reason, any unissued Shares from such Award
      will again be available for issuance pursuant to Awards granted under the
      Plan.

            (b) Shares subject to Awards settled in cash will again be available
      for issuance pursuant to Awards granted under the Plan.

            (c) Shares withheld from an Award to satisfy minimum tax withholding
      requirements will again be available for issuance pursuant to Awards
      granted under the Plan (but Shares delivered by a Participant to satisfy
      tax withholding requirements shall not be added back to the number of
      Shares available for issuance under the Plan).

            (d) If the exercise price of an Option is satisfied by delivering
      Shares to the Company (by either actual delivery or attestation), only the
      net number of Shares actually issued shall be considered for purposes of
      determining the number of Shares remaining available for issuance pursuant
      to Awards granted under the Plan.

            (e) To the extent that the full number of Shares subject to an Award
      is not issued for any reason, only the number of Shares issued and
      delivered shall be considered for purposes of determining the number of
      Shares remaining available for issuance pursuant to Awards granted under
      the Plan. Nothing in this subsection shall imply that any particular type
      of cashless exercise of an Option is permitted under the Plan, that
      decision being reserved to the Committee or other provisions of the Plan.

            (f) Substitute Awards granted pursuant to Section 14.12 of the Plan
      shall not count against the Shares otherwise available for issuance under
      the Plan under Section 5.1.

      5.3. STOCK DISTRIBUTED. Any Stock distributed pursuant to an Award may
consist, in whole or in part, of authorized and unissued Stock, treasury Stock
or Stock purchased on the open market.

                                    ARTICLE 6
                                   ELIGIBILITY

      6.1. GENERAL. Awards may be granted only to Eligible Participants; except

                                     - 11 -
<PAGE>

that Incentive Stock Options may be granted to only to Eligible Participants who
are employees of the Company or a Parent or Subsidiary as defined in Section
424(e) and (f) of the Code.

                                    ARTICLE 7
                                  STOCK OPTIONS

      7.1. GENERAL. The Committee is authorized to grant Options to Participants
on the following terms and conditions:

            (a) EXERCISE PRICE. The exercise price per Share under an Option
      shall be determined by the Committee, provided that the exercise price for
      any Option (other than an Option issued as a substitute Award pursuant to
      Section 14.12) shall not be less than the Fair Market Value as of the
      Grant Date.

            (b) TIME AND CONDITIONS OF EXERCISE. The Committee shall determine
      the time or times at which an Option may be exercised in whole or in part,
      subject to Section 7.1(d). The Committee shall also determine the
      performance or other conditions, if any, that must be satisfied before all
      or part of an Option may be exercised or vested. The Committee may waive
      any exercise or vesting provisions at any time in whole or in part based
      upon factors as the Committee may determine in its sole discretion so that
      the Option becomes exercisable or vested at an earlier date. The Committee
      may permit an arrangement whereby receipt of Stock upon exercise of an
      Option is delayed until a specified future date.

            (c) PAYMENT. The Committee shall determine the methods by which the
      exercise price of an Option may be paid, the form of payment, including,
      without limitation, cash, Shares, or other property, and the methods by
      which Shares shall be delivered or deemed to be delivered to Participants;
      provided, however, that if Shares are used to pay the exercise price of an
      Option, such Shares must have been held by the Participant for at least
      such period of time, if any, as necessary to avoid the recognition of an
      expense under generally accepted accounting principles as a result of the
      exercise of the Option.

            (d) EXERCISE TERM. In no event may any Option be exercisable for
      more than ten years from the Grant Date.

      7.2. INCENTIVE STOCK OPTIONS. The terms of any Incentive Stock Options
granted under the Plan must comply with the following additional rules:

            (a) LAPSE OF OPTION. Subject to any earlier termination provision
      contained in the Award Certificate, an Incentive Stock Option shall lapse
      upon the earliest of the following circumstances; provided, however, that
      the Committee may, prior to the lapse of the Incentive Stock Option under
      the circumstances

                                     - 12 -
<PAGE>

      described in subsections (3), (4) or (5) below, provide in writing that
      the Option will extend until a later date, but if an Option is so extended
      and is exercised after the dates specified in subsections (3) and (4)
      below, it will automatically become a Nonstatutory Stock Option:

                  (1) The expiration date set forth in the Award Certificate.

                  (2) The tenth anniversary of the Grant Date.

                  (3) Three months after termination of the Participant's
            Continuous Status as a Participant for any reason other than the
            Participant's Disability or death.

                  (4) One year after the Participant's Continuous Status as a
            Participant by reason of the Participant's Disability.

                  (5) One year after the Participant's death if the Participant
            dies while employed, or during the three-month period described in
            paragraph (3) or during the one-year period described in paragraph
            (4) and before the Option otherwise lapses.

            Unless the exercisability of the Incentive Stock Option is
      accelerated as provided in Article 14, if a Participant exercises an
      Option after termination of employment, the Option may be exercised only
      with respect to the Shares that were otherwise vested on the Participant's
      termination of employment. Upon the Participant's death, any exercisable
      Incentive Stock Options may be exercised by the Participant's beneficiary,
      determined in accordance with Section 14.5.

            (b) INDIVIDUAL DOLLAR LIMITATION. The aggregate Fair Market Value
      (determined as of the Grant Date) of all Shares with respect to which
      Incentive Stock Options are first exercisable by a Participant in any
      calendar year may not exceed $100,000.00.

            (c) TEN PERCENT OWNERS. No Incentive Stock Option shall be granted
      to any individual who, at the Grant Date, owns stock possessing more than
      ten percent of the total combined voting power of all classes of stock of
      the Company or any Parent or Subsidiary unless the exercise price per
      share of such Option is at least 110% of the Fair Market Value per Share
      at the Grant Date and the Option expires no later than five years after
      the Grant Date.

            (d) RIGHT TO EXERCISE. During a Participant's lifetime, an Incentive
      Stock Option may be exercised only by the Participant or, in the case of
      the Participant's Disability, by the Participant's guardian or legal
      representative.

                                     - 13 -
<PAGE>

            (e) ELIGIBLE GRANTEES. The Committee may not grant an Incentive
      Stock Option to a person who is not at the Grant Date an employee of the
      Company or a Parent or Subsidiary.

                                   ARTICLE 8
                           STOCK APPRECIATION RIGHTS

      8.1. GRANT OF Stock Appreciation Rights. The Committee is authorized to
grant Stock Appreciation Rights to Participants on the following terms and
conditions:

            (a) RIGHT TO PAYMENT. Upon the exercise of a Stock Appreciation
      Right, the Participant to whom it is granted has the right to receive the
      excess, if any, of:

                  (1) The Fair Market Value of one Share on the date of
            exercise; over

                  (2) The base price of the Stock Appreciation Right as
            determined by the Committee, which shall not be less than the Fair
            Market Value of one Share on the Grant Date (unless the SAR is
            granted in tandem with an Option after the Grant Date of the Option,
            in which case, the base price of the SAR may equal the exercise
            price of the related Option even if less than the Fair Market Value
            of one Share on the Grant Date of the SAR).

            (b) OTHER TERMS. All awards of Stock Appreciation Rights shall be
      evidenced by an Award Certificate. The terms, methods of exercise, methods
      of settlement, form of consideration payable in settlement, and any other
      terms and conditions of any Stock Appreciation Right shall be determined
      by the Committee at the time of the grant of the Award and shall be
      reflected in the Award Certificate.

                                    ARTICLE 9
                               PERFORMANCE AWARDS

      9.1. GRANT OF DISCRETIONARY PERFORMANCE AWARDS. The Committee is
authorized to grant Performance Shares, Performance Units or Performance-Based
Cash Awards to Participants on such terms and conditions as may be selected by
the Committee. The Committee shall have the complete discretion to determine the
number of Performance Awards granted to each Participant and to designate the
provisions of such Performance Awards as provided in Section 4.3. All
Performance Awards shall be evidenced by an Award Certificate or a written
program established by the Committee, pursuant to which Performance Awards are
awarded under the Plan under uniform terms, conditions and restrictions set
forth in such written

                                     - 14 -
<PAGE>

program.

      9.2. PERFORMANCE GOALS. The Committee may establish performance goals for
Performance Awards which may be based on any criteria selected by the Committee.
Such performance goals may be described in terms of Company-wide objectives or
in terms of objectives that relate to the performance of the Participant, an
Affiliate or a division, region, department or function within the Company or an
Affiliate. If the Committee determines that a change in the business,
operations, corporate structure or capital structure of the Company or the
manner in which the Company or an Affiliate conducts its business, or other
events or circumstances render performance goals to be unsuitable, the Committee
may modify such performance goals in whole or in part, as the Committee deems
appropriate. If a Participant is promoted, demoted or transferred to a different
business unit or function during a performance period, the Committee may
determine that the performance goals or performance period are no longer
appropriate and may (i) adjust, change or eliminate the performance goals or the
applicable performance period as it deems appropriate to make such goals and
period comparable to the initial goals and period, or (ii) make a cash payment
to the participant in amount determined by the Committee.

      9.3. RIGHT TO PAYMENT. The grant of a Performance Share to a Participant
will entitle the Participant to receive at a specified later time a specified
number of Shares, or the equivalent cash value, if the performance goals
established by the Committee are achieved and the other terms and conditions
thereof are satisfied. The grant of a Performance Unit to a Participant will
entitle the Participant to receive at a specified later time a specified dollar
value, which may be settled in cash or other property, including Shares,
variable under conditions specified in the Award, if the performance goals in
the Award are achieved and the other terms and conditions thereof are satisfied.
The grant of a Performance-Based Cash Award to a Participant will entitle the
Participant to receive at a specified later time a specified dollar value in
cash variable under conditions specified in the Award, if the performance goals
in the Award are achieved and the other terms and conditions thereof are
satisfied. The Committee shall set performance goals and other terms or
conditions to payment of the Performance Awards in its discretion which,
depending on the extent to which they are met, will determine the value of the
Performance Awards that will be paid to the Participant.

      9.4. OTHER TERMS. Performance Awards may be payable in cash, Stock or
other property, and have such other terms and conditions as determined by the
Committee and reflected in the Award Certificate. For purposes of determining
the number of Shares to be used in payment of a Performance Award denominated in
cash but payable in whole or in part in Shares or Restricted Stock, the number
of Shares to be so paid will be determined by dividing the cash value of the
Award to be so paid by the Fair Market Value of a Share on the date of
determination by the Committee of the amount of the payment under the Award, or,
if the Committee so directs, the date immediately preceding the date the Award
is paid.

                                     - 15 -
<PAGE>

                                   ARTICLE 10
                RESTRICTED STOCK AND RESTRICTED STOCK UNIT AWARDS

      10.1. GRANT OF RESTRICTED STOCK AND RESTRICTED STOCK UNITS. The Committee
is authorized to make Awards of Restricted Stock or Restricted Stock Units to
Participants in such amounts and subject to such terms and conditions as may be
selected by the Committee. An Award of Restricted Stock or Restricted Stock
Units shall be evidenced by an Award Certificate setting forth the terms,
conditions, and restrictions applicable to the Award.

      10.2. ISSUANCE AND RESTRICTIONS. Restricted Stock or Restricted Stock
Units shall be subject to such restrictions on transferability and other
restrictions as the Committee may impose (including, without limitation,
limitations on the right to vote Restricted Stock or the right to receive
dividends on the Restricted Stock or dividend equivalents on the Restricted
Stock Units) covering a period of time specified by the Committee (the
"Restriction Period"). These restrictions may lapse separately or in combination
at such times, under such circumstances, in such installments, upon the
satisfaction of performance goals or otherwise, as the Committee determines at
the time of the grant of the Award or thereafter. Except as otherwise provided
in an Award Certificate or any special Plan document governing an Award, the
Participant shall have all of the rights of a shareholder with respect to the
Restricted Stock, and the Participant shall have none of the rights of a
shareholder with respect to Restricted Stock Units until such time as Shares of
Stock are paid in settlement of the Restricted Stock Units.

      10.3. FORFEITURE. Except as otherwise determined by the Committee at the
time of the grant of the Award or thereafter, immediately after termination of
Continuous Status as a Participant during the applicable Restriction Period or
upon failure to satisfy a performance goal during the applicable Restriction
Period, Restricted Stock or Restricted Stock Units that are at that time subject
to restrictions shall be forfeited.

      10.4. DELIVERY OF RESTRICTED STOCK. Shares of Restricted Stock shall be
delivered to the Participant at the time of grant either by book-entry
registration or by delivering to the Participant, or a custodian or escrow agent
(including, without limitation, the Company or one or more of its employees)
designated by the Committee, a stock certificate or certificates registered in
the name of the Participant. If physical certificates representing shares of
Restricted Stock are registered in the name of the Participant, such
certificates must bear an appropriate legend referring to the terms, conditions,
and restrictions applicable to such Restricted Stock.

                                   ARTICLE 11
                              DEFERRED STOCK UNITS

      11.1. GRANT OF DEFERRED STOCK UNITS . The Committee is authorized to grant
Deferred Stock Units to Participants subject to such terms and conditions as may
be selected by the Committee. Deferred Stock Units shall entitle the Participant
to

                                     - 16 -
<PAGE>

receive Shares of Stock (or the equivalent value in cash or other property if so
determined by the Committee) at a future time as determined by the Committee, or
as determined by the Participant within guidelines established by the Committee
in the case of voluntary deferral elections. An Award of Deferred Stock Units
shall be evidenced by an Award Certificate setting forth the terms and
conditions applicable to the Award.

                                   ARTICLE 12
                              DIVIDEND EQUIVALENTS

      12.1. GRANT OF DIVIDEND EQUIVALENTS. The Committee is authorized to grant
Dividend Equivalents to Participants subject to such terms and conditions as may
be selected by the Committee. Dividend Equivalents shall entitle the Participant
to receive payments equal to dividends with respect to all or a portion of the
number of Shares subject to any Award, as determined by the Committee. The
Committee may provide that Dividend Equivalents be paid or distributed when
accrued or be deemed to have been reinvested in additional Shares or units
equivalent to Shares, or otherwise reinvested.

                                   ARTICLE 13
                        STOCK OR OTHER STOCK-BASED AWARDS

      13.1. GRANT OF STOCK OR OTHER STOCK-BASED AWARDS. The Committee is
authorized, subject to limitations under applicable law, to grant to
Participants such other Awards that are payable in, valued in whole or in part
by reference to, or otherwise based on or related to Shares or other property,
as deemed by the Committee to be consistent with the purposes of the Plan,
including without limitation Shares awarded purely as a "bonus" and not subject
to any restrictions or conditions, convertible or exchangeable debt securities,
other rights convertible or exchangeable into Shares, and Awards valued by
reference to book value of Shares or the value of securities of or the
performance of specified Parents or Affiliates ("Other Stock-Based Awards").
Such Other Stock-Based Awards shall also be available as a form of payment in
the settlement of other Awards granted under the Plan. The Committee shall
determine the terms and conditions of such Other Stock-Based Awards.

                                   ARTICLE 14
                         PROVISIONS APPLICABLE TO AWARDS

      14.1. STAND-ALONE AND TANDEM AWARDS. Awards granted under the Plan may, in
the discretion of the Committee, be granted either alone or in addition to, in
tandem with, any other Award granted under the Plan. Subject to Section 16.2,
awards granted in addition to or in tandem with other Awards may be granted
either at the same time as or at a different time from the grant of such other
Awards.

      14.2. TERM OF AWARD. The term of each Award shall be for the period as
determined by the Committee, provided that in no event shall the term of any
Option or

                                     - 17 -
<PAGE>

Stock Appreciation Right exceed a period of ten years from its Grant Date (or,
if Section 7.2(c) applies, five years from its Grant Date).

      14.3. FORM OF PAYMENT FOR AWARDS. Subject to the terms of the Plan and any
applicable law or Award Certificate, payments or transfers to be made by the
Company or an Affiliate on the grant or exercise of an Award may be made in such
form as the Committee determines at or after the Grant Date, including without
limitation, cash, Stock, other Awards, or other property, or any combination,
and may be made in a single payment or transfer, in installments, or on a
deferred basis, in each case determined in accordance with rules adopted by, and
at the discretion of, the Committee.

      14.4. LIMITS ON TRANSFER. No right or interest of a Participant in any
unexercised or restricted Award may be pledged, encumbered, or hypothecated to
or in favor of any party other than the Company or an Affiliate, or shall be
subject to any lien, obligation, or liability of such Participant to any other
party other than the Company or an Affiliate. No unexercised or restricted Award
shall be assignable or transferable by a Participant other than by will or the
laws of descent and distribution or, except in the case of an Incentive Stock
Option, pursuant to a domestic relations order that would satisfy Section
414(p)(1)(A) of the Code if such Section applied to an Award under the Plan;
provided, however, that the Committee may (but need not) permit other transfers
where the Committee concludes that such transferability (i) does not result in
accelerated taxation, (ii) does not cause any Option intended to be an Incentive
Stock Option to fail to be described in Code Section 422(b), and (iii) is
otherwise appropriate and desirable, taking into account any factors deemed
relevant, including without limitation, state or federal tax or securities laws
applicable to transferable Awards.

      14.5. BENEFICIARIES. Notwithstanding Section 14.4, a Participant may, in
the manner determined by the Committee, designate a beneficiary to exercise the
rights of the Participant and to receive any distribution with respect to any
Award upon the Participant's death. A beneficiary, legal guardian, legal
representative, or other person claiming any rights under the Plan is subject to
all terms and conditions of the Plan and any Award Certificate applicable to the
Participant, except to the extent the Plan and Award Certificate otherwise
provide, and to any additional restrictions deemed necessary or appropriate by
the Committee. If no beneficiary has been designated or survives the
Participant, payment shall be made to the Participant's estate. Subject to the
foregoing, a beneficiary designation may be changed or revoked by a Participant
at any time provided the change or revocation is filed with the Company.

      14.6. STOCK CERTIFICATES. All Stock issuable under the Plan is subject to
any stop-transfer orders and other restrictions as the Committee deems necessary
or advisable to comply with federal or state securities laws, rules and
regulations and the rules of any national securities exchange or automated
quotation system on which the Stock is listed, quoted, or traded. The Committee
may place legends on any Stock certificate or issue instructions to the transfer
agent to reference restrictions applicable to the Stock.

                                     - 18 -
<PAGE>

      14.7. EFFECT OF A CHANGE IN CONTROL. The provisions of this Section 14.7
shall apply in the case of a Change in Control, unless otherwise provided in the
Award Certificate or any special Plan document or separate agreement with a
Participant governing an Award.

            (a) Awards not Assumed or Substituted by Surviving Entity. Upon the
      occurrence of a Change in Control, and except with respect to any Awards
      assumed by the Surviving Entity or otherwise equitably converted or
      substituted in connection with the Change in Control in a manner approved
      by the Committee or the Board: (i) outstanding Options, SARs, and other
      Awards in the nature of rights that may be exercised shall become fully
      exercisable, (ii) time-based vesting restrictions on outstanding Awards
      shall lapse, and (iii) the target payout opportunities attainable under
      outstanding performance-based Awards shall be deemed to have been fully
      earned as of the effective date of the Change in Control based upon (A) an
      assumed achievement of all relevant performance goals at the "target"
      level if the Change in Control occurs during the first half of the
      applicable performance period, or (B) the actual level of achievement of
      all relevant performance goals against target, if the Change in Control
      occurs during the second half of the applicable performance period, and,
      in either such case, there shall be prorata payout to Participants within
      thirty (30) days following the Change in Control based upon the length of
      time within the performance period that has elapsed prior to the Change in
      Control. Any Awards shall thereafter continue or lapse in accordance with
      the other provisions of the Plan and the Award Certificate. To the extent
      that this provision causes Incentive Stock Options to exceed the dollar
      limitation set forth in Section 7.2(b), the excess Options shall be deemed
      to be Nonstatutory Stock Options.

            (b) Awards Assumed or Substituted by Surviving Entity. With respect
      to Awards assumed by the Surviving Entity or otherwise equitably converted
      or substituted in connection with a Change in Control: if within two years
      after the effective date of the Change in Control, a Participant's
      employment is terminated without Cause or the Participant resigns for Good
      Reason, then (i) all of that Participant's outstanding Options, SARs and
      other Awards in the nature of rights that may be exercised shall become
      fully exercisable, (ii) all time-based vesting restrictions on the his or
      her outstanding Awards shall lapse, and (iii) the target payout
      opportunities attainable under all outstanding of that Participant's
      performance-based Awards shall be deemed to have been fully earned as of
      the date of termination based upon (A) an assumed achievement of all
      relevant performance goals at the "target" level if the date of
      termination occurs during the first half of the applicable performance
      period, or (B) the actual level of achievement of all relevant performance
      goals against target, if the date of termination occurs during the second
      half of the applicable performance period, and, in either such case, there
      shall be prorata payout to such Participant within thirty (30) days
      following the date of termination of employment based upon the length of
      time within the performance period that has elapsed prior to the date of

                                     - 19 -
<PAGE>

      termination of employment. With regard to each Award, a Participant shall
      not be considered to have resigned for Good Reason unless either (i) the
      Award Certificate includes such provision or (ii) the Participant is party
      to an employment, severance or similar agreement with the Company or an
      Affiliate that includes provisions in which the Participant is permitted
      to resign for Good Reason. Any Awards shall thereafter continue or lapse
      in accordance with the other provisions of the Plan and the Award
      Certificate. To the extent that this provision causes Incentive Stock
      Options to exceed the dollar limitation set forth in Section 7.2(b), the
      excess Options shall be deemed to be Nonstatutory Stock Options.

      14.8. DISCRETIONARY ACCELERATION. Regardless of whether an event has
occurred as described in Section 14.7 above, the Committee may in its sole
discretion at any time determine that, upon the death, Disability, Retirement or
termination of service of a Participant, or the occurrence of a Change in
Control, all or a portion of such Participant's Options, SARs and other Awards
in the nature of rights that may be exercised shall become fully or partially
exercisable, that all or a part of the restrictions on all or a portion of the
Participant's outstanding Awards shall lapse, and/or that any performance-based
criteria with respect to any Awards held by that Participant shall be deemed to
be wholly or partially satisfied, in each case, as of such date as the Committee
may, in its sole discretion, declare. The Committee may discriminate among
Participants and among Awards granted to a Participant in exercising its
discretion pursuant to this Section 14.8.

      14.9. TERMINATION OF EMPLOYMENT. Whether military, government or other
service or other leave of absence shall constitute a termination of employment
shall be determined in each case by the Committee at its discretion, and any
determination by the Committee shall be final and conclusive. A Participant's
Continuous Status as a Participant shall not be deemed to terminate (i) in a
circumstance in which a Participant transfers from the Company to an Affiliate,
transfers from an Affiliate to the Company, or transfers from one Affiliate to
another Affiliate, or (ii) in the discretion of the Committee as specified at or
prior to such occurrence, in the case of a spin-off, sale or disposition of the
Participant's employer from the Company or any Affiliate. To the extent that
this provision causes Incentive Stock Options to extend beyond three months from
the date a Participant is deemed to be an employee of the Company, a Parent or
Subsidiary for purposes of Sections 424(e) and 424(f) of the Code, the Options
held by such Participant shall be deemed to be Nonstatutory Stock Options.

      14.10. DEFERRAL. Subject to applicable law, the Committee may permit or
require a Participant to defer such Participant's receipt of the payment of cash
or the delivery of Shares or other property that would otherwise be due to such
Participant by virtue of the exercise of an Option or SAR, the lapse or waiver
of restrictions with respect to Restricted Stock or Restricted Stock Units, or
the satisfaction of any requirements or goals with respect to Performance
Awards, and Other Stock-Based Awards. If any such deferral election is required
or permitted, the Board shall, in its sole discretion, establish

                                     - 20 -
<PAGE>

rules and procedures for such payment deferrals.

      14.11. FORFEITURE EVENTS. The Committee may specify in an Award
Certificate that the Participant's rights, payments and benefits with respect to
an Award shall be subject to reduction, cancellation, forfeiture or recoupment
upon the occurrence of certain specified events, in addition to any otherwise
applicable vesting or performance conditions of an Award. Such events shall
include, but shall not be limited to, termination of employment for cause,
violation of material Company or Affiliate policies, breach of non-competition,
confidentiality or other restrictive covenants that may apply to the
Participant, or other conduct by the Participant that is detrimental to the
business or reputation of the Company or any Affiliate.

      14.12. SUBSTITUTE AWARDS. The Committee may grant Awards under the Plan in
substitution for stock and stock-based awards held by employees of another
entity who become employees of the Company or an Affiliate as a result of a
merger or consolidation of the former employing entity with the Company or an
Affiliate or the acquisition by the Company or an Affiliate of property or stock
of the former employing corporation. The Committee may direct that the
substitute awards be granted on such terms and conditions as the Committee
considers appropriate in the circumstances.

                                   ARTICLE 15
                          CHANGES IN CAPITAL STRUCTURE

      15.1. GENERAL. In the event of a corporate event or transaction involving
the Company (including, without limitation, any stock dividend, stock split,
extraordinary cash dividend, recapitalization, reorganization, merger,
consolidation, split-up, spin-off, combination or exchange of shares), the
authorization limits under Section 5.1 shall be adjusted proportionately, and
the Committee may adjust the Plan and Awards to preserve the benefits or
potential benefits of the Awards. Action by the Committee may include: (i)
adjustment of the number and kind of shares which may be delivered under the
Plan; (ii) adjustment of the number and kind of shares subject to outstanding
Awards; (iii) adjustment of the exercise price of outstanding Awards or the
measure to be used to determine the amount of the benefit payable on an Award;
and (iv) any other adjustments that the Committee determines to be equitable. In
addition, the Committee may, in its sole discretion, provide (i) that Awards
will be settled in cash rather than Stock, (ii) that Awards will become
immediately vested and exercisable and will expire after a designated period of
time to the extent not then exercised, (iii) that Awards will be assumed by
another party to a transaction or otherwise be equitably converted or
substituted in connection with such transaction, (iv) that outstanding Awards
may be settled by payment in cash or cash equivalents equal to the excess of the
Fair Market Value of the underlying Stock, as of a specified date associated
with the transaction, over the exercise price of the Award, (v) that performance
targets and performance periods for Performance Awards will be modified,
consistent with Code Section 162(m) where applicable, or (vi) any combination of
the foregoing. The Committee's determination need not be uniform and may be
different for different Participants whether or not such

                                     - 21 -
<PAGE>

Participants are similarly situated. Without limiting the foregoing, in the
event of a subdivision of the outstanding Stock (stock-split), a declaration of
a dividend payable in Shares, or a combination or consolidation of the
outstanding Stock into a lesser number of Shares, the authorization limits under
Section 5.1 shall automatically be adjusted proportionately, and the Shares then
subject to each Award shall automatically be adjusted proportionately without
any change in the aggregate purchase price therefor. To the extent that any
adjustments made pursuant to this Article 15 cause Incentive Stock Options to
cease to qualify as Incentive Stock Options, such Options shall be deemed to be
Nonstatutory Stock Options.

                                   ARTICLE 16
                     AMENDMENT, MODIFICATION AND TERMINATION

      16.1. AMENDMENT, MODIFICATION AND TERMINATION. The Board or the Committee
may, at any time and from time to time, amend, modify or terminate the Plan
without shareholder approval; provided, however, that if an amendment to the
Plan would, in the reasonable opinion of the Board or the Committee, (i)
materially increase the number of Shares available under the Plan, (ii) expand
the types of awards available under the Plan, (iii) materially expand the class
of participants eligible to participate in the Plan, (iv) materially extend the
term of the Plan, or (iv) otherwise constitute a material change requiring
shareholder approval under applicable laws, policies or regulations or the
applicable listing or other requirements of an Exchange, then such amendment
shall be subject to shareholder approval; and provided further, that the Board
or Committee may condition any other amendment or modification on the approval
of shareholders of the Company for any reason, including by reason of such
approval being necessary or deemed advisable to (i) to comply with the listing
or other requirements of an Exchange, or (ii) to satisfy any other tax,
securities or other applicable laws, policies or regulations.

      16.2. AWARDS PREVIOUSLY GRANTED. At any time and from time to time, the
Committee may, without additional consideration, amend, modify or terminate any
outstanding Award without approval of the Participant; provided, however:

            (a) Subject to the terms of the applicable Award Certificate, such
      amendment, modification or termination shall not, without the
      Participant's consent, reduce or diminish the value of such Award
      determined as if the Award had been exercised, vested, cashed in or
      otherwise settled on the date of such amendment or termination (with the
      per-share value of an Option or Stock Appreciation Right for this purpose
      being calculated as the excess, if any, of the Fair Market Value as of the
      date of such amendment or termination over the exercise or base price of
      such Award);

            (b) The original term of an Option may not be extended without the
      prior approval of the shareholders of the Company;

                                     - 22 -
<PAGE>

            (c) Except as otherwise provided in Article 15, the exercise price
      of an Option may not be reduced, directly or indirectly, without the prior
      approval of the shareholders of the Company; and

            (d) No termination, amendment, or modification of the Plan shall
      adversely affect any Award previously granted under the Plan, without the
      written consent of the Participant affected thereby. An outstanding Award
      shall not be deemed to be "adversely affected" by a Plan amendment if such
      amendment would not reduce or diminish the value of such Award determined
      as if the Award had been exercised, vested, cashed in or otherwise settled
      on the date of such amendment (with the per-share value of an Option or
      Stock Appreciation Right for this purpose being calculated as the excess,
      if any, of the Fair Market Value as of the date of such amendment over the
      exercise or base price of such Award).

                                   ARTICLE 17
                               GENERAL PROVISIONS

      17.1. NO RIGHTS TO AWARDS; NON-UNIFORM DETERMINATIONS. No Participant or
any Eligible Participant shall have any claim to be granted any Award under the
Plan. Neither the Company, its Affiliates nor the Committee is obligated to
treat Participants or Eligible Participants uniformly, and determinations made
under the Plan may be made by the Committee selectively among Eligible
Participants who receive, or are eligible to receive, Awards (whether or not
such Eligible Participants are similarly situated).

      17.2. NO SHAREHOLDER RIGHTS. No Award gives a Participant any of the
rights of a shareholder of the Company unless and until Shares are in fact
issued to such person in connection with such Award.

      17.3. WITHHOLDING. The Company or any Affiliate shall have the authority
and the right to deduct or withhold, or require a Participant to remit to the
Company, an amount sufficient to satisfy federal, state, and local taxes
(including the Participant's FICA obligation) required by law to be withheld
with respect to any exercise, lapse of restriction or other taxable event
arising as a result of the Plan. If Shares are surrendered to the Company to
satisfy tax obligations in excess of the minimum tax withholding obligation,
such Shares must have been held by the Participant as fully vested shares for
such period of time, if any, as necessary to avoid the recognition of an expense
under generally accepted accounting principles. The Company shall have the
authority to require a Participant to remit cash to the Company in lieu of the
surrender of Shares for tax withholding obligations if the surrender of Shares
in satisfaction of such withholding obligations would result in the Company's
recognition of expense under generally accepted accounting principles. With
respect to withholding required upon any taxable event under the Plan, the
Committee may, at the time the Award is granted or thereafter, require or permit
that any such withholding requirement be satisfied, in whole or in part, by
withholding from the Award Shares having a Fair Market Value on the date of

                                     - 23 -
<PAGE>

withholding equal to the minimum amount (and not any greater amount) required to
be withheld for tax purposes, all in accordance with such procedures as the
Committee establishes.

      17.4. NO RIGHT TO CONTINUED SERVICE. Nothing in the Plan, any Award
Certificate or any other document or statement made with respect to the Plan,
shall interfere with or limit in any way the right of the Company or any
Affiliate to terminate any Participant's employment or status as an officer,
director or consultant at any time, nor confer upon any Participant any right to
continue as an employee, officer, director or consultant of the Company or any
Affiliate, whether for the duration of a Participant's Award or otherwise.

      17.5. UNFUNDED STATUS OF AWARDS. The Plan is intended to be an "unfunded"
plan for incentive and deferred compensation. With respect to any payments not
yet made to a Participant pursuant to an Award, nothing contained in the Plan or
any Award Certificate shall give the Participant any rights that are greater
than those of a general creditor of the Company or any Affiliate. This Plan is
not intended to be subject to ERISA.

      17.6. RELATIONSHIP TO OTHER BENEFITS. No payment under the Plan shall be
taken into account in determining any benefits under any pension, retirement,
savings, profit sharing, group insurance, welfare or benefit plan of the Company
or any Affiliate unless provided otherwise in such other plan.

      17.7. EXPENSES. The expenses of administering the Plan shall be borne by
the Company and its Affiliates.

      17.8. TITLES AND HEADINGS. The titles and headings of the Sections in the
Plan are for convenience of reference only, and in the event of any conflict,
the text of the Plan, rather than such titles or headings, shall control.

      17.9. GENDER AND NUMBER. Except where otherwise indicated by the context,
any masculine term used herein also shall include the feminine; the plural shall
include the singular and the singular shall include the plural.

      17.10. FRACTIONAL SHARES. No fractional Shares shall be issued and the
Committee shall determine, in its discretion, whether cash shall be given in
lieu of fractional Shares or whether such fractional Shares shall be eliminated
by rounding up or down.

      17.11. GOVERNMENT AND OTHER REGULATIONS.

            (a) Notwithstanding any other provision of the Plan, no Participant
      who acquires Shares pursuant to the Plan may, during any period of time
      that such Participant is an affiliate of the Company (within the meaning
      of the rules and

                                     - 24 -
<PAGE>

      regulations of the Securities and Exchange Commission under the 1933 Act),
      sell such Shares, unless such offer and sale is made (i) pursuant to an
      effective registration statement under the 1933 Act, which is current and
      includes the Shares to be sold, or (ii) pursuant to an appropriate
      exemption from the registration requirement of the 1933 Act, such as that
      set forth in Rule 144 promulgated under the 1933 Act.

            (b) Notwithstanding any other provision of the Plan, if at any time
      the Committee shall determine that the registration, listing or
      qualification of the Shares covered by an Award upon any Exchange or under
      any foreign, federal, state or local law or practice, or the consent or
      approval of any governmental regulatory body, is necessary or desirable as
      a condition of, or in connection with, the granting of such Award or the
      purchase or receipt of Shares thereunder, no Shares may be purchased,
      delivered or received pursuant to such Award unless and until such
      registration, listing, qualification, consent or approval shall have been
      effected or obtained free of any condition not acceptable to the
      Committee. Any Participant receiving or purchasing Shares pursuant to an
      Award shall make such representations and agreements and furnish such
      information as the Committee may request to assure compliance with the
      foregoing or any other applicable legal requirements. The Company shall
      not be required to issue or deliver any certificate or certificates for
      Shares under the Plan prior to the Committee's determination that all
      related requirements have been fulfilled. The Company shall in no event be
      obligated to register any securities pursuant to the 1933 Act or
      applicable state or foreign law or to take any other action in order to
      cause the issuance and delivery of such certificates to comply with any
      such law, regulation or requirement.

      17.12. GOVERNING LAW. To the extent not governed by federal law, the Plan
and all Award Certificates shall be construed in accordance with and governed by
the laws of the State of Delaware.

      17.13. ADDITIONAL PROVISIONS. Each Award Certificate may contain such
other terms and conditions as the Committee may determine; provided that such
other terms and conditions are not inconsistent with the provisions of the Plan.

      17.14. NO LIMITATIONS ON RIGHTS OF COMPANY. The grant of any Award shall
not in any way affect the right or power of the Company to make adjustments,
reclassification or changes in its capital or business structure or to merge,
consolidate, dissolve, liquidate, sell or transfer all or any part of its
business or assets. The Plan shall not restrict the authority of the Company,
for proper corporate purposes, to draft or assume awards, other than under the
Plan, to or with respect to any person. If the Committee so directs, the Company
may issue or transfer Shares to an Affiliate, for such lawful consideration as
the Committee may specify, upon the condition or understanding that the
Affiliate will transfer such Shares to a Participant in accordance with the
terms of an Award granted to such Participant and specified by the Committee
pursuant to the

                                     - 25 -
<PAGE>

provisions of the Plan.

      17.15. INDEMNIFICATION. Each person who is or shall have been a member of
the Committee, or of the Board, or an officer of the Company to whom authority
was delegated in accordance with Article 4 shall be indemnified and held
harmless by the Company against and from any loss, cost, liability, or expense
that may be imposed upon or reasonably incurred by him or her in connection with
or resulting from any claim, action, suit, or proceeding to which he or she may
be a party or in which he or she may be involved by reason of any action taken
or failure to act under the Plan and against and from any and all amounts paid
by him or her in settlement thereof, with the Company's approval, or paid by him
or her in satisfaction of any judgment in any such action, suit, or proceeding
against him or her, provided he or she shall give the Company an opportunity, at
its own expense, to handle and defend the same before he or she undertakes to
handle and defend it on his or her own behalf, unless such loss, cost,
liability, or expense is a result of his or her own willful misconduct or except
as expressly provided by statute. The foregoing right of indemnification shall
not be exclusive of any other rights of indemnification to which such persons
may be entitled under the Company's charter or bylaws, as a matter of law, or
otherwise, or any power that the Company may have to indemnify them or hold them
harmless.

      The foregoing is hereby acknowledged as being the Adams Respiratory
Therapeutics, Inc. 2005 Incentive Plan as adopted by the Board on March 21, 2005
and approved by the shareholders on May 31, 2005.

                                            ADAMS RESPIRATORY THERAPEUTICS, INC.

                                            By:  /s/ Michael J. Valentino
                                                 -----------------------------
                                            Its: President and
                                                 Chief Executive Officer
                                                 -----------------------------

                                     - 26 -<PAGE>
                                                                   Exhibit 10.22

                        RESTRICTED STOCK AWARD AGREEMENT

                                Non-transferable

                                    GRANT TO

                             -----------------------
                                 (the "Grantee")

           by Adams Respiratory Therapeutics, Inc. (the "Company") of
       _______ shares of its common stock, $0.01 par value (the "Shares")

pursuant to and subject to the provisions of the Adams Respiratory Therapeutics,
Inc. 2005 Incentive Plan and to the terms and conditions set forth on the
following page (the "Terms and Conditions"). By accepting the Shares, Grantee
shall be deemed to have agreed to the terms and conditions set forth in this
Agreement and the Plan.

      Unless vesting is accelerated in accordance with the Plan or in the
discretion of the Committee, the Shares will vest (become non-forfeitable) in
accordance with the following schedule:

<TABLE>
<CAPTION>
          Continuous Employment
             after Grant Date                     Percent of Shares Vested
             ----------------                     ------------------------
<S>                                               <C>

</TABLE>

      IN WITNESS WHEREOF, Adams Respiratory Therapeutics, Inc., acting by and
through its duly authorized officers, has caused this Agreement to be executed
as of the Grant Date.

                            ADAMS RESPIRATORY THERAPEUTICS, INC.

                            By:
                               -------------------------------------------------

                            Accepted by:
                                         ---------------------------------------

                            Grant Date:
                                       -----------------------------------------

<PAGE>

TERMS AND CONDITIONS

      1. Grant of Shares. The Company hereby grants to the Grantee named on page
1 hereof ("Grantee"), subject to the restrictions and the other terms and
conditions set forth in the Plan and in this award agreement (this "Agreement"),
the number of shares indicated on page 1 hereof of the Company's $0.01 par value
common stock (the "Shares"). Capitalized terms used herein and not otherwise
defined shall have the meanings assigned to such terms in the Plan.

      2. Restrictions. The Shares are subject to each of the following
restrictions. "Restricted Shares" mean those Shares that are subject to the
restrictions imposed hereunder which restrictions have not then expired or
terminated. Restricted Shares may not be sold, transferred, exchanged, assigned,
pledged, hypothecated or otherwise encumbered. If Grantee's employment with the
Company or any Affiliate terminates for any reason other than as set forth in
paragraph (b) of Section 3 hereof, then Grantee shall forfeit all of Grantee's
right, title and interest in and to the Restricted Shares as of the date of
employment termination, and such Restricted Shares shall revert to the Company
immediately following the event of forfeiture. The restrictions imposed under
this Section shall apply to all shares of the Company's Stock or other
securities issued with respect to Restricted Shares hereunder in connection with
any merger, reorganization, consolidation, recapitalization, stock dividend or
other change in corporate structure affecting the Stock of the Company.

      3. Expiration and Termination of Restrictions. The restrictions imposed
under Section 2 will expire on the earliest to occur of the following (the
period prior to such expiration being referred to herein as the "Restricted
Period"):

            (a) as to the percentages of the Shares specified on page 1 hereof,
on the respective dates specified on page 1 hereof; provided Grantee is then
still employed by the Company or a Affiliate; or

            (b) as to all of the Shares, upon a Change in Control, if (i) the
Shares are not assumed by the surviving company or equitably converted or
substituted, or (ii) the Shares are assumed by the surviving company or
otherwise equitably converted or substituted in connection with a Change in
Control, and the Grantee's employment is terminated without Cause or, in some
cases, if the Grantee resigns for Good Reason, within two years after the Change
in Control.

      4. Delivery of Shares. The Shares will be registered in the name of
Grantee as of the Grant Date and may be held by the Company during the
Restricted Period in certificated or uncertificated form. If a certificate for
Restricted Shares is issued during the Restricted Period, such certificate shall
be registered in the name of Grantee and shall bear a legend in substantially
the following form: "This certificate and the shares of stock represented hereby
are subject to the terms and conditions contained in a Restricted Stock
Agreement between the registered owner and Adams Respiratory Therapeutics, Inc.
Release from such terms and conditions shall be made only in accordance with the
provisions of such Agreement, copies of which are on file in the offices of
Adams Respiratory Therapeutics, Inc." Stock certificates for the Shares, without
the above legend, shall be delivered to Grantee or Grantee's designee upon
request of Grantee after the expiration of the Restricted Period, but delivery
may be postponed for such period as may be required for the Company with
reasonable diligence to comply, if deemed advisable by the Company, with
registration requirements under the Securities Act of 1933, listing requirements
of any stock exchange, and requirements under any other law or regulation
applicable to the issuance or transfer of the Shares.

      5. Voting and Dividend Rights. Grantee, as beneficial owner of the Shares,
shall have full voting and dividend rights with respect to the Shares during and
after the Restricted Period. If Grantee forfeits any rights he may have under
this Agreement, Grantee shall no longer have any rights as a shareholder with
respect to the Restricted Shares or any interest therein and Grantee shall no
longer be entitled to receive dividends on such stock.

      6. Changes in Capital Structure. The provisions of the Plan shall apply in
the case of a change in the capital structure of the Company. Without limiting
the foregoing, in the event of a subdivision of the outstanding Stock
(stock-split), a declaration of a dividend payable in Stock, or a combination or
consolidation of the outstanding Stock into a lesser number of shares, the
Shares then subject to this Agreement shall automatically be adjusted
proportionately.

      7. No Right of Continued Employment. Nothing in this Agreement shall
interfere with or limit in any way the right of the Company or any Affiliate to
terminate Grantee's employment at any time, nor confer upon Grantee any right to
continue employment.

      8. Payment of Taxes. Upon issuance of the Shares hereunder, Grantee may
make an election to be taxed upon such award under Section 83(b) of the Code. To
effect such election, Grantee may file an appropriate election with Internal
Revenue Service within thirty (30) days after award of the Shares and otherwise
in accordance with applicable Treasury Regulations. Grantee will, no later than
the date as of which any amount related to the Shares first becomes includable
in Grantee's gross income for federal income tax purposes, pay to the Company,
or make other arrangements satisfactory to the Committee regarding payment of,
any federal, state and local taxes of any kind required by law to be withheld
with respect to such amount. The obligations of the Company under this
Certificate will be conditional on such payment or arrangements, and the
Company, and, where applicable, its Affiliates will, to the extent permitted by
law, have the right to deduct any such taxes from the award or any payment of
any kind otherwise due to Grantee.

      9. Amendment. The Committee may amend, modify or terminate this Agreement
without approval of Grantee; provided, however, that such amendment,
modification or termination shall not, without Grantee's consent, reduce or
diminish the value of this award determined as if it had been fully vested on
the date of such amendment or termination.

      10. Plan Controls. The terms contained in the Plan are incorporated into
and made a part of this Agreement and this Agreement shall be governed by and
construed in accordance with the Plan. In the event of any actual or alleged
conflict between the provisions of the Plan and the provisions of this
Agreement, the provisions of the Plan shall be controlling and determinative.

      11. Notice. Notices and communications under this Agreement must be in
writing and either personally delivered or sent by registered or certified
United States mail, return receipt requested, postage prepaid. Notices to the
Company must be addressed to:

            Adams Respiratory Therapeutics, Inc.
            425 Main Street
            Chester, New Jersey 07930
            Attn: Secretary

or any other address designated by the Company in a written notice to Optionee.
Notices to Optionee will be directed to the address of Optionee then currently
on file with the Company, or at any other address given by Optionee in a written
notice to the Company.

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