Document:

EXHIBIT 10(B)

                             PANNELL KERR FORSTER PC
                          Certified Public Accountants
                                75 Federal Street
                                Boston, MA 02110

               CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the Shareholders and the Board of Directors
of Pax World Balanced Fund, Inc.:

         We consent (i) to the incorporation by reference in Post-Effective
Amendment No. 43 to Registration Statement No. 2-38679 of Pax World Balanced
Fund, Inc. on Form N-1A of our reports for the fiscal years ended December 31,
1999 through 2002, inclusive, and (ii) we also consent to the reference to us
(A) under the headings "Financial Statements" in the Prospectus, and (B) under
the heading "Investment Advisory and Other Services - Independent Accountants"
in the Statement of Additional Information.

                                                    /s/  PANNELL KERR FORSTER PC

Boston, Massachusetts
April 30, 2004EXHIBIT 10(A)

               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

We consent to the references to our firm under the caption "Financial
Highlights" and "Independent Auditors" in the Prospectus, and "Independent
Accountants" and "Financial Statements" in the Statement of Additional
Information and to the use of our report dated February 4, 2004, with respect to
the financial statements of PAX World Balanced Fund, PAX World Growth Fund, and
PAX World High Yield Fund included in their Annual Report dated December 31,
2003 incorporated by reference into this Post-Effective Amendment Number 6 to
the Registration Statement (Form N-1A No. 333-23549) of PAX World Growth Fund,
Inc.

                                                        ERNST & YOUNG LLP

Boston, Massachusetts
April 29, 2004EXHIBIT 10(B)

                             PANNELL KERR FORSTER PC
                          Certified Public Accountants
                                75 Federal Street
                                Boston, MA 02110

               CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the Shareholders and the Board of Directors
of Pax World Growth Fund, Inc.:

         We consent (i) to the incorporation by reference in Post-Effective
Amendment No. 6 to Registration Statement No. 333-23549 of Pax World Growth
Fund, Inc. on Form N-1A of our reports for the fiscal years ended December 31,
1999 through 2002, inclusive, and (ii) we also consent to the reference to us
(A) under the headings "Financial Statements" in the Prospectus, and (B) under
the heading "Investment Advisory and Other Services - Independent Accountants"
in the Statement of Additional Information.

                                                /s/ PANNELL KERR FORSTER PC

Boston, Massachusetts
April 30, 2004EXHIBIT 4(B)

                    ADDENDUM TO INVESTMENT ADVISORY AGREEMENT

Reference is made to the Investment Advisory Agreement dated June 15, 1999 (the
"Advisory Agreement") between Pax World Management Corp. (the "Adviser") and Pax
World High Yield Fund, Inc. (the "Fund").

Notwithstanding anything to the contrary contained in the Advisory Agreement,
with respect to the Institutional Class of shares of the Fund, the Adviser shall
supply and pay for such services as are deemed by the Directors of the Fund to
be necessary or desirable and proper for the continuous operation of the Fund
(excluding all taxes and charges of governmental agencies and brokerage
commissions incurred in connection with portfolio transactions) which are in
excess of one and fifteen hundredths percent (1.15%) of the average net asset
value of the Institutional Class of the Fund per annum.EXHIBIT 10(A)

               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS

We  consent  to  the  references  to  our  firm  under  the  caption  "Financial
Highlights" and  "Independent  Auditors" in each  Prospectus,  and  "Independent
Accountants"   and  "Financial   Statements"  in  the  Statement  of  Additional
Information and to the use of our report dated February 4, 2004, with respect to
the financial  statements of PAX World Balanced Fund, PAX World Growth Fund, and
PAX World High Yield Fund  included in their Annual  Report  dated  December 31,
2003  incorporated by reference into this  Post-Effective  Amendment Number 6 to
the  Registration  Statement  (Form N-1A No.  333-82133) of PAX World High Yield
Fund, Inc.

                                                              ERNST & YOUNG LLP

Boston, Massachusetts
April 29, 2004EXHIBIT 10(B)

                             PANNELL KERR FORSTER PC
                          Certified Public Accountants
                                75 Federal Street
                                Boston, MA 02110

               CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

To the Shareholders and the Board of Directors
of Pax World High Yield Fund, Inc.:

                We consent (i) to the incorporation by reference in
        Post-Effective Amendment No. 6 to Registration Statement No. 333-82133
        of Pax World High Yield Fund, Inc. on Form N-1A of our reports for the
        fiscal period October 13, 1999 to December 31, 1999 and the fiscal years
        ended December 31, 2000 through 2002, inclusive, and (ii) we also
        consent to the reference to us (A) under the headings "Financial
        Statements" in the Prospectus, and (B) under the heading "Investment
        Advisory and Other Services - Independent Accountants" in the Statement
        of Additional Information.

                                        /s/ PANNELL KERR FORSTER PC

Boston, Massachusetts
April 30, 200410Q Q3 2004 EXHIBIT 10.1

 Exhibit 10.1 

PHARMACYCLICS, INC.

                  NON-EMPLOYEE DIRECTORS STOCK OPTION PLAN

(As Amended and Restated through October 31, 2001)

ARTICLE ONE

GENERAL PROVISIONS

I.PURPOSE OF THE PLAN

This Non-Employee Directors Stock Option Plan is intended
to promote the interests of Pharmacyclics, Inc., a Delaware corporation, by
providing the non-employee members of the Board with the opportunity to acquire
a proprietary interest, or otherwise increase their proprietary interest, in the
Corporation as an incentive for them to remain in the service of the
Corporation.

Capitalized terms shall have the meanings assigned to such
terms in the attached Appendix.

II.ADMINISTRATION OF THE PLAN

The terms of each option grant (including the timing and
pricing of the option grant) shall be determined by the express terms of the
Plan, and neither the Board nor any committee of the Board shall exercise any
discretionary functions with respect to option grants made pursuant to the
Plan.

III.ELIGIBILITY

The individuals eligible to receive option grants under
the Plan shall be (i) those individuals who are serving as non-employee Board
members on the Plan Effective Date or who are first elected or appointed as
non-employee Board members on or after such date, whether through appointment by the
Board or election by the Corporation's stockholders, and (ii) those individuals
who continue to serve as non-employee Board members after one or more Annual
Stockholders Meetings beginning with the 1996 Annual Meeting.  A non-employee
Board member who has previously been in the employ of the Corporation (or any
Parent or Subsidiary) shall not be eligible to receive an option grant under the
Plan on the Plan Effective Date or at the time he or she first becomes a
non-employee Board member, but shall be eligible to receive periodic option grants
under the Plan upon his or her continued service as a non-employee Board member
following one or more Annual Stockholders Meetings. 

IV.STOCK SUBJECT TO THE PLAN

A.The stock issuable under the Plan shall be shares
of authorized but unissued or reacquired Common Stock, including shares
repurchased by the Corporation on the open market.  The maximum number of shares
of Common Stock which may be issued over the term of the Plan shall not exceed
271,667 shares.  Such authorized share reserve is comprised of (i) the initial
share reserve of 166,667 plus (ii) a 30,000-share increase approved by the Board
on October 14, 1999, and (iii) a 50,000-share increase approved by the Board on
September 7, 2000 and approved by the stockholders at the 2000 Annual Meeting,
and (iv) a 25,000-share increase approved by the Board on September 7, 2001 and
approved by the stockholders at the 2001 Annual Meeting,

B.Shares of Common Stock subject to outstanding options
shall be available for subsequent issuance under the Plan to the extent the
options expire or terminate for any reason prior to exercise in full.  Shares
subject to any option or portion thereof surrendered in accordance with Article
Two and all shares issued under the Plan, whether or not those shares are
subsequently repurchased by the Corporation pursuant to its repurchase rights
under the Plan, shall reduce on a share-for-share basis the number of shares of
Common Stock available for subsequent issuance under the Plan.  In addition,
should the exercise price of an option under the Plan be paid with shares of
Common Stock, then the number of shares of Common Stock available for issuance
under the Plan shall be reduced by the gross number of shares for which the
option is exercised, and not by the net number of shares of Common Stock issued
to the holder of such option. 

C.Should any change be made to the Common Stock by reason
of any stock split, stock dividend, recapitalization, combination of shares,
exchange of shares or other change affecting the outstanding Common Stock as a
class without the Corporation's receipt of consideration, appropriate
adjustments shall be made to (i) the maximum number and/or class of securities
issuable under the Plan, (ii) the number and/or class of securities for which
option grants are to be subsequently made per Eligible Director and (iii) the
number and/or class of securities and the exercise price per share in effect
under each outstanding option in order to prevent the dilution or enlargement of
benefits thereunder.  The adjustments to the outstanding options shall be made
by the Board and shall be final, binding and conclusive.

ARTICLE TWO

OPTION GRANT PROGRAM

I.OPTION TERMS 

A.Grant Dates.  Option grants shall be
made on the dates specified below:

1.Each Eligible Director who is a non-employee Board
member on the Plan Effective Date shall automatically be granted, on the Plan
Effective Date a Non-Statutory Option to purchase 5,000 shares of Common
Stock.

2.Each Eligible Director who is first elected or
appointed as a non-employee Board member after the Plan Effective Date shall
automatically be granted a Non-Statutory Option to purchase 10,000 shares of
Common Stock. 

3.On the date of each Annual Stockholders Meeting,
beginning with the 1996 Annual Meeting, each individual who is to continue to
serve as an Eligible Director after such meeting, shall automatically be
granted, whether or not such individual is standing for re-election as a Board
member at that Annual Meeting, a Non-Statutory Option to purchase an additional
5,000 shares of Common Stock, provided such individual has served as a
non-employee Board member for at least six (6) months prior to the date of such
Annual Meeting.  There shall be no limit on the number of such annual
5,000-share option grants any one Eligible Director may receive over his or her period
of continued Board service.

B.Exercise Price. 

1.The exercise price per share shall be equal to one
hundred percent (100%) of the Fair Market Value per share of Common Stock on the
option grant date.

2.The exercise price shall become immediately due upon
exercise of the option and shall be payable in one or more of the forms
specified below:
(i)cash or check made payable to the Corporation,

(ii)shares of Common Stock held for the requisite period
necessary to avoid a charge to the Corporation's earnings for financial
reporting purposes and valued at Fair Market Value on the Exercise Date, or

(iii)to the extent the option is exercised for vested
shares,  through a special sale and remittance procedure pursuant to which the
Optionee shall concurrently provide irrevocable written instructions to (A) a
Corporation-designated brokerage firm to effect the immediate sale of the
purchased shares and remit to the Corporation, out of the sale proceeds
available on the settlement date, sufficient funds to cover the aggregate
exercise price payable for the purchased shares plus all applicable Federal,
state and local income and employment taxes required to be withheld by the
Corporation by reason of such exercise and (B) the Corporation to deliver
the certificates for the purchased shares directly to such brokerage firm in
order to complete the sale.

Except to the extent such sale and remittance procedure is
utilized, payment of the exercise price for the purchased shares must be made on
the Exercise Date.

C.Option Term.  Each option shall have a
term of ten (10) years measured from the option grant date.

D.Exercise and Vesting of Options.  Each
option shall be immediately exercisable for any or all of the option shares.
However, any shares purchased under the option shall be subject to repurchase by
the Corporation, at the exercise price paid per share, upon the Optionee's
cessation of Board service prior to vesting in those shares. 

1.Each 10,000-share grant shall vest, and the
Corporation's repurchase right shall lapse, in a series of five (5) equal and
successive annual installments over the Optionee's period of continued service
as a Board member, with the first such installment to vest upon the Optionee's
completion of one (1) year of Board service measured from the option grant date.

2.Each 5,000-share grant shall vest, and the
Corporation's repurchase right shall lapse, in a series of twelve (12) equal and
successive monthly installments over the Optionee's period of continued service
as a Board member, with the first such installment to vest upon the Optionee's
completion of one (1) month of Board service measured from the option grant
date.   

E.Effect of Termination of Board Service.
The following provisions shall govern the exercise of any options held by the
Optionee at the time the Optionee ceases to serve as a Board member:
(i)Should the Optionee cease to serve as a Board member
for any reason (other than death or Permanent Disability), then the Board member
shall have a twenty-four (24)-month period following the date of such cessation
of Board service in which to exercise each such option.  During the twenty-four
(24)-month exercise period, the option may not be exercised in the aggregate for
more than the number of vested shares for which the option is exercisable at the
time of the Optionee's cessation of Board service.  

(ii)Should the Optionee cease to serve as a Board member
by reason of death or Permanent Disability, then all shares at the time subject
to the option shall immediately vest so that the option may, during the
twenty-four (24)-month exercise period following such cessation of Board service, be
exercised by the Optionee (or in the event of the Optionee's death, the personal
representative of the Optionee's estate or the person or persons to whom the
option is transferred pursuant to the Optionee's will, or in accordance with the
Optionee's beneficiary designation, or the laws of descent and distribution) for
all or any portion of such shares as fully-vested shares.  

(iii)In no event shall the option remain exercisable
after the expiration of the option term.  Upon the expiration of the twenty-four
(24)-month exercise period or (if earlier) upon the expiration of the option
term, the option shall terminate and cease to be outstanding for any vested
shares for which the option has not been exercised.  However, the option shall,
immediately upon the Optionee's cessation of Board service, terminate and cease
to be outstanding, to the extent it is not exercisable for vested shares on the
date of such cessation of Board service.

F.Stockholder Rights.  The holder of an
option shall have no stockholder rights with respect to the shares subject to
the option until such person shall have exercised the option, paid the exercise
price and become a holder of record of the purchased shares.

G.Limited Transferability of Options.
During the lifetime of the Optionee, the option shall be exercisable only by the
Optionee and shall not be assignable or transferable other than by will or by
the laws of descent and distribution following the Optionee's death.  However,
an option may be assigned in accordance with the terms of a Qualified Domestic
Relations Order.  The assigned option may only be exercised by the person or
persons who acquire a proprietary interest in the option pursuant to such
Qualified Domestic Relations Order.  The terms applicable to the assigned option
(or portion thereof) shall be the same as those in effect for the option
immediately prior to such assignment and shall be set forth in such documents
issued to the assignee as the Plan Administrator may deem appropriate.

H.Beneficiary Designation.  An Optionee may
file a written beneficiary designation indicating the person entitled to
exercise Optionee's outstanding options on the Optionee's behalf at the time of
his/her death.  Such beneficiary designation may be changed by the Optionee at
any time by filing the appropriate form with the Plan Administrator.  

II.CORPORATE TRANSACTION/CHANGE IN CONTROL/HOSTILE TAKE-OVER

A.In the event of any Corporate Transaction, the
shares of Common Stock at the time subject to each outstanding option but not
otherwise vested shall automatically vest in full so that each such option
shall, immediately prior to the specified effective date of the Corporate
Transaction, become fully exercisable for all of the shares of Common Stock at
the time subject to such option and may be exercised for all or any portion of
such shares as fully-vested shares of Common Stock.  Immediately following the
consummation of the Corporate Transaction, each option grant shall terminate and
cease to be outstanding, except to the extent assumed by the successor
corporation (or parent thereof).

B.In connection with any Change in Control, the shares of
Common Stock at the time subject to each outstanding option but not otherwise
vested shall automatically vest in full so that each such option shall,
immediately prior to the effective date of the Change in Control, become fully
exercisable for all of the shares of Common Stock at the time subject to such
option and may be exercised for all or any portion of such shares as fully-
vested shares of Common Stock.  Each such option shall remain exercisable for
such fully-vested option shares until the expiration of the option term or the
surrender of the option in connection with a Hostile Take-Over.

C.Upon the occurrence of a Hostile Take-Over, the
Optionee shall have a thirty (30)-day period in which to surrender to the
Corporation each option held by him or her for a period of at least six (6)
months.  The Optionee shall in return be entitled to a cash distribution from
the Corporation in an amount equal to the excess of (i) the Take-Over Price of
the shares of Common Stock at the time subject to the surrendered option
(whether or not the Optionee is otherwise at the time vested in those shares)
over (ii) the aggregate exercise price payable for such shares.  Such cash
distribution shall be paid within five (5) days following the surrender of the
option to the Corporation.  No approval of the Board or any committee of the
Board shall be required in connection with such option surrender and cash
distribution.

D.The grant of options under the Plan shall in no way
affect the right of the Corporation to adjust, reclassify, reorganize or
otherwise change its capital or business structure or to merge, consolidate,
dissolve, liquidate or sell or transfer all or any part of its business or
assets.

ARTICLE
THREE

MISCELLANEOUS
I.EFFECTIVE DATE AND TERM OF THE PLAN

A.The Plan shall become effective immediately on the
Plan Effective Date, and was approved by the Corporation's stockholders on
September 11, 1995.  On October 14, 1999 the Plan was amended and restated by
the Board to increase the maximum number of shares of Common Stock authorized
for issuance over the term of the Plan by 30,000 shares. The increase was
approved by the stockholders at the 1999 Annual Meeting. On September 7, 2000
the Plan was amended and restated by the Board to increase the maximum number of
shares of Common Stock authorized for issuance over the term of the Plan by
50,000 shares.  The increase was approved by the stockholders at the 2000 Annual
Meeting. On September 7, 2001 the Plan was amended and restated by the Board to
increase the maximum number of shares of Common Stock authorized for issuance
over the term of the Plan by 25,000 shares.  The increase was approved by the
stockholders at the 2001 Annual Meeting. 

B.The Plan shall terminate upon the earliest of
(i) August 1, 2005, (ii) the date on which all shares available for
issuance under the Plan shall have been issued or cancelled pursuant to the
exercise or cash-out of the options under the Plan or (iii) the termination of
all outstanding options in connection with a Corporate Transaction.  Upon such
Plan termination, all option grants and unvested stock issuances outstanding on
such date shall thereafter continue to have force and effect in accordance with
the provisions of the documents evidencing such grants or issuances.
II.AMENDMENT OF THE PLAN 

The Board shall have complete and exclusive power and
authority to amend or modify the Plan in any or all respects.  However, (i) the
Plan, together with the option grants outstanding thereunder, may not be amended
at intervals more frequently than once every six (6) months, other than to the
extent necessary to comply with applicable Federal income tax laws and
regulations and (ii) no such amendment or modification shall adversely affect
the rights and obligations with respect to options at the time outstanding under
the Plan unless the Optionee consents to such amendment or modification.  In
addition, the Board shall not, without the approval of the Corporation's
stockholders, (i) materially increase the maximum number of shares issuable
under the Plan or the number of shares for which options may be granted to each
Eligible Director, except for permissible adjustments in the event of certain
changes in the Corporation's capitalization, (ii) materially modify the
eligibility requirements for Plan participation or (iii) materially increase the
benefits accruing to Plan participants.

III.USE OF PROCEEDS

Any cash proceeds received by the Corporation from the
sale of shares of Common Stock under the Plan shall be used for general
corporate purposes.
IV.REGULATORY APPROVALS

A.The implementation of the Plan, the granting of any
option under the Plan and the issuance of any shares of Common Stock upon the
exercise of any option shall be subject to the Corporation's procurement of all
approvals and permits required by regulatory authorities having jurisdiction
over the Plan, the options granted under it and the shares of Common Stock
issued pursuant to it.

B.No shares of Common Stock or other assets shall be
issued or delivered under the Plan unless and until there shall have been
compliance with all applicable requirements of Federal and state securities
laws, including the filing and effectiveness of the Form S-8 registration
statement for the shares of Common Stock issuable under the Plan, and all
applicable listing requirements of any stock exchange (or the Nasdaq National
Market, if applicable) on which Common Stock is then listed for trading.

V.NO EMPLOYMENT/SERVICE RIGHTS

Nothing in the Plan shall confer upon the Optionee any
right to continue in Service for any period of specific duration or interfere
with or otherwise restrict in any way the rights of the Corporation (or any
Parent or Subsidiary employing or retaining such person) and the Corporation's
stockholders or of the Optionee, which rights are hereby expressly reserved by
each, to terminate such person's Service at any time for any reason, with or
without cause.

APPENDIX

The following definitions shall be in effect under the
Plan:

A.Board shall mean the Corporation's Board
of Directors.

B.Change in Control shall mean a change in
ownership or control of the Corporation effected through either of the following
transactions:
(i)the acquisition, directly or indirectly by any person
or related group of persons (other than the Corporation or a person that
directly or indirectly controls, is controlled by, or is under common control
with, the Corporation), of beneficial ownership (within the meaning of Rule 13d-
3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the
total combined voting power of the Corporation's outstanding securities pursuant
to a tender or exchange offer made directly to the Corporation's stockholders
which the Board does not recommend such stockholders to accept, or

(ii)a change in the composition of the Board over a
period of thirty-six (36) consecutive months or less such that a majority of the
Board members ceases, by reason of one or more contested elections for Board
membership, to be comprised of individuals who either (A) have been Board
members continuously since the beginning of such period or (B) have been elected
or nominated for election as Board members during such period by at least a
majority of the Board members described in clause (A) who were still in office
at the time such election or nomination was approved by the Board.

C.Code shall mean the Internal Revenue Code
of 1986, as amended.

D.Common Stock shall mean the Corporation's
common stock.

E.Corporate Transaction shall mean either
of the following stockholder-approved transactions to which the Corporation is a
party:
(i)a merger or consolidation in which securities
possessing more than fifty percent (50%) of the total combined voting power of
the Corporation's outstanding securities are transferred to a person or persons
different from the persons holding those immediately prior to such transaction;
or 

(ii)the sale, transfer or other disposition of all or
substantially all of the Corporation's assets  in complete liquidation or
dissolution of the Corporation.

F.Corporation shall mean Pharmacyclics,
Inc., a Delaware corporation.

G.Domestic Relations Order shall mean any
judgment, decree or order (including approval of a property settlement
agreement) which provides or otherwise conveys, pursuant to applicable State
domestic relations laws (including community property laws), marital property
rights to any spouse or former spouse of the Optionee.

H.Eligible Director shall mean a non-
employee Board member eligible to participate in the Plan.

I.Exercise Date shall mean the date on which the
Corporation shall have received written notice of the option exercise.

J.Fair Market Value per share of Common
Stock on any relevant date shall be determined in accordance with the following
provisions:
(i)If the Common Stock is at the time traded on the
Nasdaq National Market, then the Fair Market Value shall be the closing selling
price per share of Common Stock on the date in question, as such price is
reported by the National Association of Securities Dealers on the Nasdaq
National Market or any successor system.  If there is no closing selling price
for the Common Stock on the date in question, then the Fair Market Value shall
be the closing selling price on the last preceding date for which such quotation
exists.

(ii)If the Common Stock is at the time listed on any
Stock Exchange, then the Fair Market Value shall be the closing selling price
per share of Common Stock on the date in question on the Stock Exchange which
serves as the primary market for the Common Stock, as such price is officially
quoted in the composite tape of transactions on such exchange.  If there is no
closing selling price for the Common Stock on the date in question, then the
Fair Market Value shall be the closing selling price  on the last preceding date
for which such quotation exists.

K.Hostile Take-Over shall mean a change in
ownership of the Corporation effected through the following
transaction:
(i)any person or related group of persons (other than the
Corporation or a person that directly or indirectly controls, is controlled by,
or is under common control with, the Corporation) directly or indirectly
acquires beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act)
of securities possessing more than fifty percent (50%) of the total combined
voting power of the Corporation's outstanding securities  pursuant to a tender
or exchange offer made directly to the Corporation's stockholders which the
Board does not recommend such stockholders to accept, and

(ii)more than fifty percent (50%) of the securities so
acquired are accepted from persons other than Section 16 Insiders.

L.1934 Act shall mean the Securities
Exchange Act of 1934, as amended.

M.Non-Statutory Option shall mean an option
not intended to satisfy the requirements of Code Section 422.

N.Optionee shall mean any person to whom an
option is granted under the Plan. 

O.Parent shall mean any corporation (other
than the Corporation) in an unbroken chain of corporations ending with the
Corporation, provided each corporation in the unbroken chain (other than the
Corporation) owns, at the time of the determination, stock possessing fifty
percent (50%) or more of the total combined voting power of all classes of stock
in one of the other corporations in such chain.

P.Permanent Disability shall mean the
inability of the Optionee to perform his or her usual duties as a Board member
by reason of any medically determinable physical or mental impairment expected
to result in death or to be of continuous duration of twelve (12) months or
more.

Q.Plan shall mean the Corporation's
Non-Employee Directors Stock Option Plan, as set forth in this document.

R.Plan Effective Date shall mean the date
on which the Underwriting Agreement is executed and the initial public offering
price of the Common Stock is established.

S.Qualified Domestic Relations Order shall
mean a Domestic Relations Order which substantially complies with the
requirements of Code Section 414(p).

T.Section 16 Insiders shall mean an officer
or director of the Corporation subject to the short-swing profit liabilities of
Section 16 of the 1934 Act.

U.Stock Exchange shall mean either the
American Stock Exchange or the New York Stock Exchange.

V.Subsidiary shall mean any corporation
(other than the Corporation) in an unbroken chain of corporations beginning with
the Corporation, provided each corporation (other than the last corporation) in
the unbroken chain owns, at the time of the determination, stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of
stock in one of the other corporations in such chain.

W.Take-Over Price shall mean the greater of
(i) the Fair Market Value per share of Common Stock on the date the option is
surrendered to the Corporation in connection with a Hostile Take-Over or (ii)
the highest reported price per share of Common Stock paid by the tender offeror
in effecting such Hostile Take-Over.

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