Document:

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                                                                    EXHIBIT 10.2

                               RUSSELL CORPORATION
                               SEVERANCE PAY PLAN
                             FOR GRADE 19 AND ABOVE

                            Effective January 1, 2001

                                    SECTION 1

                                  Introduction

         1.1      Purpose. Russell Corporation (the "Company") has established
the Russell Corporation Severance Pay Plan for employees at Salary Grade 19 and
above (the "Plan") to enable the Company to provide severance benefits to
eligible employees who are in Salary Grade 19 or above and who voluntarily
terminate employment with the Company at the Company's request or whose
employment is involuntarily terminated other than for proper cause (as defined
below). The Plan supersedes all corporate Plans, policies or practices regarding
severance allowances and pay in lieu of notice upon termination of employment,
with respect to employees eligible to participate in the Plan. Severance
benefits for eligible employees shall be determined exclusively under the Plan.
It is the intent of the Company that the Plan, as set forth herein, constitute
an "employee welfare benefit Plan" within the meaning of Section 3(1) of the
Employee Retirement Income Act of 1974 ("ERISA") and comply with the applicable
requirements of ERISA.

         1.2      Effective Date, Plan Year. The Plan was established as of
_____________. The "effective date" of the Plan is January 1, 2001. A "Plan
year" is the 12-month period beginning on January 1st and ending on the
following December 31st.

         1.3      Administration. The Plan is administered by the Company. The
Company, from time to time, may adopt such rules and regulations as may be
necessary or desirable for the proper and efficient administration of the Plan
and provided such rules and regulations are consistent with the terms of the
Plan. The Company, from time to time, may also appoint such individuals to act
as the Company's representatives as the Company considers necessary or desirable
for the effective administration of the Plan. In administering the Plan, the
Company shall have the discretionary authority to construe and interpret the
provisions of the Plan and make factual determinations thereunder, including the
authority to determine the eligibility of employees and the amount of benefits
payable under the Plan. Any notice or document required to be given or filed
with the Company will be deemed properly given or filed if delivered or mailed,
by registered mail, postage prepaid, to the Company at 3330 Cumberland Blvd.,
Suite 800, Atlanta, Georgia 30339, attention: Senior Vice President, Human
Resources.

         1.4      Plan Supplements. The provisions of the Plan may be modified
by supplements to the Plan. The terms and provisions of each supplement shall be
a part of the Plan and shall supersede any inconsistent provisions of the Plan
to the extent necessary to eliminate such inconsistencies.

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                                    SECTION 2

                          Eligibility for Participation

         Subject to the conditions and limitations of any applicable supplement
to the Plan, each employee who is employed in a position in Salary Grade 19 and
above shall become a participant in the Plan on his date of hire, or, if later,
the date he becomes employed in such position. No other employee shall be
eligible to participate in the Plan.

                                    SECTION 3

                                  Plan Benefits

         3.1      Eligibility for Benefits. Subject to the conditions and
limitations of the Plan and any applicable supplement, a participant who, at the
Company's request, agrees to voluntarily terminate his employment with the
Company or whose employment is involuntarily terminated for a reason other than
for proper cause (as defined below) and who executes a proper release provided
by the Company will be entitled to receive a benefit determined by the Company
in its sole discretion; provided, however:

                  (a)      Any participant who, at the time of his termination,
                           is eligible to receive any form of disability or
                           workers' compensation insurance or salary
                           continuation because of disability shall not be
                           entitled to receive any benefit under the Plan.

                  (b)      If a participant whose employment is terminated was
                           offered employment in a suitable position at any
                           facility or place of business of the Company, he
                           shall not be eligible to receive any benefits under
                           the Plan. The Company shall have sole discretion to
                           determine whether the position offered constitutes a
                           "suitable position" for purposes of this paragraph.

                  (c)      A participant whose employment with the Company is
                           terminated in conjunction with the sale or transfer
                           (whether of stock or assets) of all or any part of
                           the Company who is offered a suitable position with
                           the acquiror of the part or all of the Company sold
                           or transferred shall not be eligible to receive
                           benefits under the Plan. The Company shall have sole
                           discretion to determine whether the position offered
                           constitutes a "suitable position" for purposes of
                           this paragraph.

The Company has established guidelines (attached as Exhibit A) to be used by the
Company in determining the amount of severance pay benefits provided to its
employees who are participants in the Plan. The guidelines are suggestions only
and are not restrictions on the Company's ability to determine the severance
amount at its complete discretion. In no event shall any participant's severance
pay benefit exceed an amount equal to twelve (12) months of the participant's
base pay. For purposes of this Plan, a termination for "proper cause" shall
include

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(but shall not be limited to) termination for any willful or grossly negligent
breach of the participant's duties as an employee of the Company and termination
for fraud, embezzlement or any other similar dishonest conduct, or for violation
of the Company's rules of conduct.

         3.2      Certain Repayments and Forfeitures. Notwithstanding any other
provision of the Plan, any participant who accepts benefits under the Plan shall
reimburse the Company for the full amount of any benefits he received under the
Plan if the participant subsequently discloses any of the Company's trade
secrets, violates any written covenants between such participant and the
Company, or otherwise engages in conduct that may adversely affect the Company's
reputation or business relations. In addition, any participant described in the
preceding sentence shall forfeit any right to benefits under the Plan which have
not yet been paid. To the extent required by the terms of any agreement between
the Company and a third party concerning the sale or transfer of all or any
portion of the Company to such third party, any participant whose employment is
involuntarily terminated in conjunction with such sale and who becomes a direct
competitor of such third party or is employed by a direct competitor of such
third party shall forfeit any right to any additional benefits under the Plan
which have not yet been paid.

                                    SECTION 4

                               Payment of Benefits

         4.1      Release Agreement. No benefits under the Plan shall be payable
to any participant until such participant and the Company have executed a
release (in a form approved by the Company) of all of such participant's then
existing rights and legal claims against the Company and the Company and the
payment of benefits under the Plan shall be subject to the terms and conditions
of such release agreement. The terms and conditions of a participant's release
agreement, with respect to the payment of severance benefits are incorporated by
this reference and form a part of the Plan as applied to such participant.

         4.2      Form of Payment. Benefits shall be paid in equal installments
according to the Company's normal payroll schedule. In the event of a
participant's death before he receives all benefits to which he otherwise would
be entitled under the Plan, payment of his benefits shall be made to his
beneficiary in installments or a lump sum, as determined by the Company.

         4.3      Designation of Beneficiary. By signing a form furnished by the
Company, each participant may designate any person or persons to whom his
benefits are to be paid if he dies before he receives all of his benefits. A
beneficiary designation form will be effective only when the form is filed with
the Company while the participant is still alive and will cancel all beneficiary
designation forms previously filed by the participant with the Company with
respect to this Plan. If a deceased participant has failed to designate a
beneficiary as provided above, or if the designated beneficiary predeceases the
participant, payment of the participant's benefits shall be made to his estate.
If a designated beneficiary dies before complete payment of any benefits
attributable to a participant, remaining benefits shall be paid to the
beneficiary's estate.

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                                    SECTION 5

                             Financing Plan Benefits

         All benefits payable under this Plan shall be paid directly by the
Company out of its general assets. The Company shall not be required to
segregate on its books or otherwise any amount to be used for the payment of
benefits under this Plan.

                                    SECTION 6

                                  Reemployment

         If a participant who is entitled to receive benefits under the Plan is
reemployed by the Company before all his benefits have been paid, any benefits
remaining to be paid will be forfeited.

                                    SECTION 7

                                  Miscellaneous

         7.1      Information to be Furnished by Participants. Each participant
must furnish to the Company such documents, evidence, data or other information
as the Company considers necessary or desirable for the purpose of administering
the Plan. Benefits under the Plan for each participant are provided on the
condition that the participant furnish full, true and complete data, evidence or
other information, and that the participant promptly sign any document related
to the Plan, requested by the Company.

         7.2      Employment Rights. The Plan does not constitute a contract of
employment and participation in the Plan will not give a participant the right
to be rehired or retained in the employ of the Company on a full-time, part-time
or any other basis or to be retrained by the Company, nor will participation in
the Plan give any participant any right or claim to any benefit under the Plan,
unless such right or claim has specifically accrued under the terms of the Plan.

         7.3      Company's Decision Final. Any interpretation of the Plan and
any decision on any matter within the discretion of the Company made by the
Company in good faith is binding on all persons.

         7.4      Evidence. Evidence required of anyone under the Plan may be by
certificate, affidavit, document or other information which the person relying
thereon considers pertinent and reliable, and signed, made or presented by the
proper party or parties.

         7.5      Uniform Rules. In managing the Plan, the Company will apply
uniform rules to all participants similarly situated.

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         7.6      Gender and Number. Where the context admits, words in the
masculine gender shall include the feminine and neuter genders, the plural shall
include the singular and the singular shall include the plural.

         7.7      Action by Company. Any action required of or permitted by the
Company under the Plan shall be by resolution of its Board of Directors, by
resolution of a duly authorized committee of its Board of Directors, or by a
person or persons authorized by resolution(s) of its Board of Directors or such
committee.

         7.8      Controlling Laws. Except to the extent superseded by laws of
the United States, the laws of the state of Alabama shall be controlling in all
matters relating to the Plan.

         7.9      Interests Not Transferable. The interests of persons entitled
to benefits under the Plan are not subject to their debts or other obligations
and, except as may be required by the tax withholding provisions of the Internal
Revenue Code or any state's income tax act, or pursuant to an agreement between
a participant and the Company, may not be voluntarily sold, transferred,
alienated, assigned or encumbered.

         7.10     Mistake of Fact. Any mistake of fact or misstatement of fact
shall be corrected when it becomes known and proper adjustment made by reason
thereof.

         7.11     Severability. In the event any provision of the Plan shall be
held to be illegal or invalid for any reason, such illegality or invalidity
shall not affect the remaining parts of the Plan, and the Plan shall be
construed and enforced as if such illegal or invalid provisions had never been
contained in the Plan.

         7.12     Withholding. The Company will withhold from any amounts
payable under this Plan all federal, state, city and local taxes as shall be
legally required and any applicable insurance premiums, as well as any other
amounts authorized or required by Company policy including, but not limited to,
withholding for garnishments and judgments or other court orders.

         7.13     Effect on Other Plans or Agreements. Payments or benefits
provided to a participant under any Company stock, deferred compensation,
savings, retirement or other employee benefit plan (the "Other Plans") are
governed solely by the terms of such Other Plans. Any obligations or duties of a
participant pursuant to any non-competition or other agreement with the Company
shall be governed solely by the terms of such agreement and shall not be
affected by the terms of this Plan.

         7.14     Claims and Review Procedures.

                  (a)      Claims Procedure. In the event any person believes he
                           is being denied any rights or benefits under the
                           Plan, he shall file a written claim setting forth the
                           facts underlying his claim. Within ninety (90) days
                           after receipt of the claim by the administrator (or
                           within 180 days, if special circumstances require an
                           extension of time for processing the claim, and, if
                           written notice of such extension and circumstances is
                           given to such person within the

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                           initial 90-day period), the administrator shall
                           furnish to the claimant written notice of the
                           decision with respect to the claim. If the claim is
                           wholly or partially denied, the written notice shall
                           set forth in a manner reasonably calculated to be
                           understood by the claimant: (i) the specific reason
                           or reasons for the denial; (ii) specific reference to
                           pertinent Plan provisions on which the denial is
                           based; (iii) a description of additional material or
                           information, if any, necessary for the claimant to
                           perfect the claim and an explanation of why such
                           material or information is necessary; and (iv)
                           information as to the steps to be taken if the
                           claimant wishes to submit a request for review. If
                           such notification is not given within such period,
                           the claim will be considered denied as of the last
                           day of such period and such claimant may request a
                           review of his claim.

                  (b)      Review Procedure. Within sixty (60) days after
                           receipt by the claimant of written notification of
                           denial of a claim (or, if applicable, within 60 days
                           after the date on which such denial is considered to
                           have occurred) the claimant or his duly authorized
                           representative may appeal such denial by filing with
                           the administrator a written application for a review
                           of the denial of the claim. In connection with such
                           appeal, the claimant or his duly authorized
                           representative: (i) may file a written request with
                           the administrator to review pertinent Plan documents;
                           (ii) may submit issues and comments in writing; and
                           (iii) may file a written request for a review hearing
                           with the administrator. A decision on review shall be
                           made by the administrator within sixty (60) days
                           after receipt of a written request unless a hearing
                           has been requested or other special circumstances
                           require an extension of time for processing of the
                           appeal, in which case the administrator's decision on
                           review shall be rendered no later than one hundred
                           twenty (120) days after receipt of the request for
                           review. The administrator's decision on review shall:
                           (i) be in writing; (ii) include specific reasons for
                           the decision, written in a manner reasonably
                           calculated to be understood by the claimant; and
                           (iii) contain specific references to the pertinent
                           Plan provisions on which the decision is based. If
                           the decision on review is not made within such
                           period, the claim will be considered denied. All
                           decisions by the administrator with respect to the
                           Plan shall be final, conclusive and binding.

                                    SECTION 8

                            Amendment and Termination

         8.1      Amendment and Termination. The Company reserves the right, on
a case-by-case basis or on a general basis, to amend the Plan at any time, to
alter, reduce or eliminate any benefit under the Plan (in whole or in part) at
any time, or to terminate the Plan at any time, as to any class or classes of
covered employees, including current employees, former employees (including
retired employees), their spouses, dependents and beneficiaries, all without
notice. Notwithstanding the foregoing, any such amendment or termination of the
Plan shall not reduce

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the amount of benefits payable to any participant who has terminated his
employment before the effective date of such amendment or termination and who is
receiving or entitled to receive benefits under the Plan except as otherwise
provided in subsection 3.3. Any amendment or termination of the Plan by the
Company shall be made in accordance with the procedures set forth in subsection
7.7.

         8.2      Notice of Amendment or Termination. Participants will be
notified of an amendment or termination of the Plan within a reasonable time.

         IN WITNESS WHEREOF, Russell Corporation has caused this Plan to be
signed by a duly authorized member of the Russell Corporation Employee Benefits
Administrative Committee this 22 day of December, 2000.

                                    RUSSELL CORPORATION

                                    By: /s/
                                        -------------------------------
                                    Title: Senior Vice President
                                          -----------------------------

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                              RUSSELL CORPORATION
                               SEVERANCE PAY PLAN
                            FOR GRADES 19 AND ABOVE
                              SCHEDULE OF BENEFITS

A participant who is involuntarily terminated for reasons other than for proper
cause, will be eligible for a severance payment in accordance with the
following:

         (1)      If the participant has more than six (6) months, but less than
                  two (2) years of service, the amount of severance shall be (i)
                  three (3) months base pay, plus (ii) an additional one month
                  of base pay for each two months of service in excess of six
                  (6) months; provided, however, the payment under this
                  subsection (ii) will terminate on the earlier of the (y) date
                  of hire at a new employer or (z) the additional number of
                  months of severance payments;

         (2)      If a participant has more than two (2) years of service, the
                  amount of severance shall be (i) six (6) months base pay;
                  plus (ii) an additional six (6) months base pay; provided,
                  however, the payment under this subsection (ii) will
                  terminate on the earlier of the (y) date of hire at a new
                  employer or (z) six (6) months;

         (3)      In no event shall a participant be entitled to more than
                  twelve (12) months severance.

         (4)      If a participant has less than six (6) months of service, the
                  amount of severance shall be two months base pay.

A participant may elect COBRA benefits and the rate charged will be the same as
that charged an active employee of the Company during the time period that
severance payments are being made to the participant. Any COBRA benefits will
terminate if the participant becomes covered by another employer's benefits
prior to the expiration of the COBRA period.

Vesting and election periods for stock options will be in accordance with
applicable plan documents.

All payments are contingent upon the participant and the Company executing a
release (in a form approved by the Company).<PAGE>   1
                                                                     EXHIBIT 4.1

                  -------------------------------------------

                               SOUND ADVICE, INC.
                  AMENDED AND RESTATED 1999 STOCK OPTION PLAN

                  -------------------------------------------

         1. PURPOSE. The purpose of this Plan is to advance the interests of
SOUND ADVICE, INC., a Florida corporation (the "Company"), and its Subsidiaries
by providing an additional incentive to attract and retain qualified and
competent persons who provide services to the Company and its Subsidiaries, and
upon whose efforts and judgment the success of the Company and its Subsidiaries
is largely dependent, through the encouragement of stock ownership in the
Company by such persons.

         2. DEFINITIONS. As used herein, the following terms shall have the
meaning indicated:

                  (a) "Board" shall mean the Board of Directors of the Company.

                  (b) "Committee" shall mean the committee appointed by the
Board pursuant to Section 13(a) hereof.

                  (c) "Common Stock" shall mean the Company's Common Stock, par
value $.01 per share.

                  (d) "Company" shall mean SOUND ADVICE, INC., a Florida
corporation.

                  (e) "Director" shall mean a member of the Board.

                  (f) "Disability" shall have the same meaning as described in
Section 22(e) of the Internal Revenue Code.

                  (g) "Fair Market Value" of a Share on any date of reference
shall mean the "Closing Price" (as defined below) of the Common Stock on the
business day immediately preceding such date, unless the Committee or the Board
in its sole discretion shall determine otherwise in a fair and uniform manner.
For the purpose of determining Fair Market Value, the "Closing Price" of the
Common Stock on any business day shall be (i) if the Common Stock is listed or
admitted for trading on any United States national securities exchange, or if
actual transactions are otherwise reported on a consolidated transaction
reporting system, the last reported sale price of Common Stock on such exchange
or reporting system, as reported in any newspaper of general circulation, (ii)
if the Common Stock is quoted on the National Association of Securities Dealers
Automated Quotations System ("NASDAQ"), or any similar system of automated
dissemination of quotations of securities prices in common use, the last
reported sale price of Common Stock on such system or, if sales prices are not
reported, the mean between the closing high bid and low asked quotations for
such day of Common Stock on such system, as reported in any newspaper of general
circulation or (iii) if neither clause (i) or (ii) is applicable, the mean
between the high bid and low asked quotations for the Common Stock as reported
by the National Quotation Bureau, Incorporated if at least two securities
dealers have inserted both bid and asked quotations for Common Stock on at least
five of the ten preceding days. If neither (i), (ii), or (iii) above is
applicable, then Fair Market Value shall be determined in good faith by the
Committee or the Board in a fair and uniform manner.

                  (h) "Incentive Stock Option" shall mean an incentive stock
option as defined in Section 422 of the Internal Revenue Code.

                  (i) "Internal Revenue Code" shall mean the Internal Revenue
Code of 1986, as amended from time to time.

<PAGE>   2

                  (j) "Non-Qualified Stock Option" shall mean an Option which is
not an Incentive Stock Option.

                  (k) "Officer" shall mean the Company's Chairman of the Board,
President, Chief Executive Officer, principal financial officer, principal
accounting officer, any vice-president of the Company in charge of a principal
business unit, division or function (such as sales, administration or finance),
any other officer who performs a policy-making function, or any other person who
performs similar policy-making functions for the Company. Officers of
Subsidiaries shall be deemed Officers of the Company if they perform such
policy-making functions for the Company. As used in this paragraph, the phrase
"policy-making function" does not include policy-making functions that are not
significant. If pursuant to Item 401(b) of Regulation S-K (17 C.F.R. ss.
229.401(b)) the Company identifies a person as an "executive officer," the
person so identified shall be deemed an "Officer" even though such person may
not otherwise be an "Officer" pursuant to the foregoing provisions of this
paragraph.

                  (l) "Option" (when capitalized) shall mean any option granted
under this Plan.

                  (m) "Option Agreement" means the agreement between the Company
and the Optionee for the grant of an option.

                  (n) "Optionee" shall mean a person to whom a stock option is
granted under this Plan or any person who succeeds to the rights of such person
under this Plan by reason of the death of such person.

                  (o) "Outside Director" shall mean a member of the Board who
qualifies as an "outside director" under Section 162(m) of the Internal Revenue
Code and the regulations thereunder and as a "Non-Employee Director" under Rule
16b-3 promulgated under the Securities Exchange Act.

                  (p) "Plan" shall mean this Amended and Restated 1999 Stock
Option Plan for the Company.

                  (q) "Retirement" shall mean the voluntary resignation by an
Optionee as an employee or a director of the Company or its Subsidiaries after
the Optionee has attained age 65.

                  (r) "Securities Exchange Act" shall mean the Securities
Exchange Act of 1934, as amended from time to time.

                  (s) "Share" shall mean a share of Common Stock.

                  (t) "Subsidiary" shall mean any corporation (other than the
Company) in any unbroken chain of corporations beginning with the Company if, at
the time of the granting of the Option, each of the corporations other than the
last corporation in the unbroken chain owns stock possessing 50 percent or more
of the total combined voting power of all classes of stock in one of the other
corporations in such chain.

         3. SHARES AVAILABLE FOR OPTION GRANTS. The Committee or the Board may
grant to Optionees from time to time Options to purchase an aggregate of up to
One Million (1,000,000) Shares from the Company's authorized and unissued
Shares. If any Option granted under the Plan shall terminate, expire, or be
cancelled or surrendered as to any Shares, new Options may thereafter be granted
covering such Shares.

         4. INCENTIVE AND NON-QUALIFIED OPTIONS.

                  (a) An Option granted hereunder shall be either an Incentive
Stock Option or a Non-Qualified Stock Option as determined by the Committee or
the Board at the time of grant of such Option and shall clearly state whether it
is an Incentive Stock Option or a Non-Qualified Stock Option. All Incentive
Stock Options shall be granted within 10 years from the effective date of this
Plan. Incentive Stock Options may not be granted to any person who is not an
employee of the Company or any Subsidiary.

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<PAGE>   3

                  (b) Options otherwise qualifying as Incentive Stock Options
hereunder will not be treated as Incentive Stock Options to the extent that the
aggregate fair market value (determined at the time the Option is granted) of
the Shares, with respect to which Options meeting the requirements of Section
422(b) of the Internal Revenue Code are exercisable for the first time by any
individual during any calendar year (under all plans of the Company and its
parent and subsidiary corporations as defined in Section 424 of the Internal
Revenue Code), exceeds $100,000.

         5. CONDITIONS FOR GRANT OF OPTIONS.

                  (a) Each Option shall be evidenced by an option agreement that
may contain any term deemed necessary or desirable by the Committee or the
Board, provided such terms are not inconsistent with this Plan or any applicable
law. Optionees shall be (i) those persons selected by the Committee or the Board
from the class of all employees of, or persons who provide consulting or other
services as independent contractors to, the Company or its Subsidiaries,
including, without limitation, Directors and Officers who are employees, and
(ii) Directors who are not employees of the Company or of any Subsidiaries. Any
person who files with the Committee or the Board, in a form satisfactory to the
Committee or the Board, a written waiver of eligibility to receive any Option
under this Plan shall not be eligible to receive any Option under this Plan for
the duration of such waiver.

                  (b) In granting Options, the Committee or the Board shall take
into consideration the contribution the person has made to the success of the
Company or its Subsidiaries and such other factors as the Committee or the Board
shall determine. The Committee or the Board shall also have the authority to
consult with and receive recommendations from officers and other personnel of
the Company and its Subsidiaries with regard to these matters. The Committee or
the Board may from time to time in granting Options under the Plan prescribe
such other terms and conditions concerning such Options as it deems appropriate,
including, without limitation, (i) prescribing the date or dates on which the
Option becomes exercisable, (ii) providing that the Option rights accrue or
become exercisable in installments over a period of years, or upon the
attainment of stated goals or both, or (iii) relating an Option to the continued
employment of the Optionee for a specified period of time, provided that such
terms and conditions are not more favorable to an Optionee than those expressly
permitted herein.

                  (c) The Options granted to employees under this Plan shall be
in addition to regular salaries, pension, life insurance or other benefits
related to their employment with the Company or its Subsidiaries. Neither the
Plan nor any Option granted under the Plan shall confer upon any person any
right to employment or continuance of employment by the Company or its
Subsidiaries.

                  (d) Notwithstanding any other provision of this Plan, an
Incentive Stock Option shall not be granted to any person owning directly or
indirectly (through attribution under Section 424(d) of the Internal Revenue
Code) at the date of grant, stock possessing more than 10% of the total combined
voting power of all classes of stock of the Company (or of its parent or
subsidiary corporation (as defined in Section 424 of the Internal Revenue Code)
at the date of grant) unless the option price of such Option is at least 110% of
the Fair Market Value of the Shares subject to such Option on the date the
Option is granted, and such Option by its terms is not exercisable after the
expiration of five years from the date such Option is granted.

                  (e) Notwithstanding any other provision of this Plan, and in
addition to any other requirements of this Plan, the aggregate number of Options
granted to any one Optionee may not exceed 400,000, subject to adjustment as
provided in Section 10 hereof.

         6. OPTION PRICE. The option price per Share of any Option shall be any
price determined by the Committee or the Board but shall not be less than the
par value per Share; provided, however, that in no event shall the option price
per Share of any Incentive Stock Option be less than the Fair Market Value of
the Shares underlying such Option on the date such Option is granted.

         7. EXERCISE OF OPTIONS. An Option shall be deemed exercised when (i)
the Company has received written notice of such exercise in accordance with the
terms of the Option, (ii) full payment of the aggregate option price of the
Shares as to which the Option is exercised has been made, and (iii) arrangements
that are satisfactory to

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<PAGE>   4

the Committee or the Board in its sole discretion have been made for the
Optionee's payment to the Company of the amount that is necessary for the
Company or Subsidiary employing the Optionee to withhold in accordance with
applicable Federal or state tax withholding requirements. The consideration to
be paid for the Shares to be issued upon exercise of an Option as well as the
method of payment of the exercise price and of any withholding and employment
taxes applicable thereto, shall be determined by the Committee or the Board and
may in the discretion of the Committee or the Board consist of: (1) cash, (2)
certified or official bank check, (3) money order, (4) Shares that have been
held by the Optionee for at least six (6) months (or such other Shares as the
Company determines will not cause the Company to recognize for financial
accounting purposes a charge for compensation expense), (5) the withholding of
Shares issuable upon exercise of the Option, (6) pursuant to a "cashless
exercise" procedure, by delivery of a properly executed exercise notice together
with such other documentation, and subject to such guidelines, as the Board or
the Committee shall require to effect an exercise of the Option and delivery to
the Company by a licensed broker acceptable to the Company of proceeds from the
sale of Shares or a margin loan sufficient to pay the exercise price and any
applicable income or employment taxes, or (7) in such other consideration as the
Committee or the Board deems appropriate, or by a combination of the above. In
the case of an Incentive Stock Option, the permissible methods of payment shall
be specified at the time the Option is granted. The Committee or the Board in
its sole discretion may accept a personal check in full or partial payment of
any Shares. If the exercise price is paid in whole or in part with Shares, or
through the withholding of Shares issuable upon exercise of the Option, the
value of the Shares surrendered or withheld shall be their Fair Market Value on
the date the Option is exercised. The Company in its sole discretion may, on an
individual basis or pursuant to a general program established in connection with
this Plan, lend money to an Optionee, guarantee a loan to an Optionee, or
otherwise assist an Optionee to obtain the cash necessary to exercise all or a
portion of an Option granted hereunder or to pay any tax liability of the
Optionee attributable to such exercise. If the exercise price is paid in whole
or part with Optionee's promissory note, such note shall (i) provide for full
recourse to the maker, (ii) be collateralized by the pledge of the Shares that
the Optionee purchases upon exercise of such Option, (iii) bear interest at the
prime rate of the Company's principal lender, and (iv) contain such other terms
as the Committee or the Board in its sole discretion shall reasonably require.
No Optionee shall be deemed to be a holder of any Shares subject to an Option
unless and until a stock certificate or certificates for such Shares are issued
to such person(s) under the terms of this Plan. No adjustment shall be made for
dividends (ordinary or extraordinary, whether in cash, securities or other
property) or distributions or other rights for which the record date is prior to
the date such stock certificate is issued, except as expressly provided in
Section 10 hereof.

         8. EXERCISABILITY OF OPTIONS. Any Option shall become exercisable in
such amounts, at such intervals and upon such terms as the Committee or the
Board shall provide in such Option, except as otherwise provided in this Section
8.

                  (a) The expiration date of an Option shall be determined by
the Committee or the Board at the time of grant, but in no event shall an Option
be exercisable after the expiration of 10 years from the date on which the
Option is granted.

                  (b) Unless otherwise provided in any Option, each outstanding
Option shall become immediately fully exercisable in the event of a "Change in
Control" or in the event that the Committee or the Board exercises its
discretion to provide a cancellation notice with respect to the Option pursuant
to Section 9(b) hereof. For this purpose, the term "Change in Control" shall
mean:

                           (i) Approval by the shareholders of the Company of a
reorganization, merger, consolidation or other form of corporate transaction or
series of transactions, in each case, with respect to which persons who were the
shareholders of the Company immediately prior to such reorganization, merger or
consolidation or other transaction do not, immediately thereafter, own more than
50% of the combined voting power entitled to vote generally in the election of
directors of the reorganized, merged or consolidated company's then outstanding
voting securities, in substantially the same proportions as their ownership
immediately prior to such reorganization, merger, consolidation or other
transaction, or a liquidation or dissolution of the Company or the sale of all
or substantially all of the assets of the Company (unless such reorganization,
merger, consolidation or other corporate transaction, liquidation, dissolution
or sale is subsequently abandoned); or

                                        4

<PAGE>   5

                           (ii) Individuals who, as of the date on which the
Option is granted, constitute the Board (the "Incumbent Board") cease for any
reason to constitute at least a majority of the Board, provided that any person
becoming a director subsequent to the date on which the Option was granted whose
election, or nomination for election by the Company's shareholders, was approved
by a vote of at least a majority of the directors then comprising the Incumbent
Board (other than an election or nomination of an individual whose initial
assumption of office is in connection with an actual or threatened election
contest relating to the election of the Directors of the Company, as such terms
are used in Rule 14a-11 of Regulation 14A of Regulation 14A promulgated under
the Securities Exchange Act) shall be, for purposes of this Agreement,
considered as though such person were a member of the Incumbent Board.; or

                           (iii) the acquisition (other than from the Company)
by any person, entity or "group", within the meaning of Section 13(d)(3) or
14(d)(2) of the Securities Exchange Act, of 15% of either the then outstanding
shares of the Company's Common Stock or the combined voting power of the
Company's then outstanding voting securities entitled to vote generally in the
election of directors (hereinafter referred to as the ownership of a
"Controlling Interest") excluding, for this purpose, any acquisitions by (1) the
Company or its Subsidiaries, (2) any person, entity or "group" that as of the
date on which the Option is granted owns beneficial ownership (within the
meaning of Rule 13d-3 promulgated under the Securities Exchange Act) of a
Controlling Interest, (3) a trustee or other fiduciary holding securities under
one or more employee benefit plan maintained by the Company or its Subsidiaries,
(4) any corporation which, immediately prior to such acquisition is owned
directly or indirectly by the shareholders of the Company in the same proportion
as their ownership of stock in the Company immediately prior to such
acquisition, or (5) Peter Beshouri, Michael Blumberg, Joseph Piccirilli, Gregory
Sturgis or any other person, who, as of the Effective Date of this Plan,
directly or indirectly beneficially owns 5% or more of the voting securities of
the Company; PROVIDED, HOWEVER, that a Change in Control shall not be deemed to
occur solely because any person (the "Subject Person") acquired beneficial
ownership of a Controlling Interest as a result of the acquisition by the
Company of some of its voting securities which, by reducing the number of
outstanding voting securities, increases the proportionate number of voting
securities owned by the Subject Person; PROVIDED FURTHER that if the Subject
Person thereafter becomes the beneficial owner of any additional voting
securities of the Company which increases the percentage of the then outstanding
voting securities beneficially owned by the Subject Person, then a Change in
Control shall occur.

                  (c) The Committee or the Board may in its sole discretion,
accelerate the date on which any Option may be exercised and may accelerate the
vesting of any Shares subject to any Option or previously acquired by the
exercise of any Option.

                  (d) The Committee or the Board may, in its discretion, in
connection with and at the time of granting a Non-Qualified Stock Option,
provide that such Non-Qualified Stock Option shall accelerate and become fully
exercisable upon the termination of the Optionee's employment or service with
the Company or its Subsidiaries by reason of either the death or as a result of
a Disability.

         9. TERMINATION OF OPTION PERIOD. (a) Unless otherwise provided in any
Option agreement, the unexercised portion of any Option shall automatically and
without notice terminate and become null and void at the time of the earliest to
occur of the following:

                  (b) if the Option is an Incentive Stock Option:

                           (i) the expiration of ten years from the date on
which the Option was granted, expect as otherwise provided in subsection 5(d)
hereof;

                           (ii) immediately upon the termination of the
Optionee's employment with the Company or its Subsidiaries for cause; provided
that the Committee or the Board shall have the right to determine whether the
Optionee has been terminated for cause and the date of such termination, and
such determination of the Committee or the Board shall be final and conclusive;

                                        5

<PAGE>   6

                           (iii) immediately upon the termination of the
Optionee's employment with the Company or its Subsidiaries if such termination
constitutes or is attributable to a breach by the Optionee of an employment
agreement with the Company, its parent company, or its Subsidiaries (a
"Breach");

                           (iv) the expiration of such period of time or the
occurrence of such event as the Committee or the Board in its discretion may
provide for in any Option;

                           (v) three months after the date on which the
Optionee's employment with the Company or its Subsidiaries is terminated other
than by reason of (A) Cause, (B) a Breach, (C) a Disability as determined by a
medical doctor satisfactory to the Committee, or (D) death of the Optionee;
PROVIDED, HOWEVER, that if the Optionee shall die during such three-month
period, the time of termination of the unexpired portion of any such Option
shall be determined under the provision of paragraph (7) of this subsection
9(a)(i);

                           (vi) twelve months after the date on which the
Optionee's employment with the Company or its Subsidiaries is terminated by
reason of a Disability, as determined by a medical doctor satisfactory to the
Committee or the Board; or

                           (vii) the expiration of six months following the
issuance of letters testamentary or letters of administration to the personal
representative, executor or administrator of the estate of a deceased Optionee,
if the Optionee's death occurs either (A) during his employment with the Company
or its Subsidiaries or (B) during the three-month period following the date of
termination of such employment (other than a termination described in paragraphs
(2) and (3) of this subsection 9(a)(i)), but in no event later than twelve
months after the date of Optionee's death.

                  (c) if the Option is a Non-Qualified Stock Option:

                           (i) the expiration of ten years from the date on
which the Option was granted, expect as otherwise provided in subsection 5(d)
hereof;

                           (ii) immediately upon the termination of the
Optionee's employment with the Company or its Subsidiaries for cause; provided
that the Committee or the Board shall have the right to determine whether the
Optionee has been terminated for cause and the date of such termination, and
such determination of the Committee or the Board shall be final and conclusive;

                           (iii) immediately upon the termination of the
Optionee's employment with the Company or its Subsidiaries due to a Breach by
Optionee;

                           (iv) the expiration of such period of time or the
occurrence of such event as the Committee or the Board in its discretion may
provide for in any Option;

                           (v) two years after the date on which the Optionee's
employment with the Company or its Subsidiaries is terminated for any reason
(including, without limitation, as a result of a Disability, voluntary
resignation within sixty days after a Change in Control, or Retirement) other
than by reason of (A) Cause, (B) a Breach, or (C) a termination provided for in
paragraph (6) of this subsection 9(a)(ii); or

                           (vi) three months after the date on which Optionee's
employment with the Company or its Subsidiaries is terminated as a result of the
Optionee's voluntary resignation other than (A) within sixty days after a Change
in Control or (B) as a result of Retirement; PROVIDED, HOWEVER, that if Optionee
shall die during the three-month period, the time of termination of the
unexpired portion of such nonqualified Option shall be six months following the
issuance of letters testamentary or letters of administration to the personal
representative, executor or administrator of the estate of a deceased Optionee,
but in no event later than one year after the Optionee's death; or

                                        6

<PAGE>   7

                           (vii) two years after the date on which the
Optionee's employment with the Company or its Subsidiaries is terminated by
reason of Optionee's death.

All references herein to the termination of the Optionee's employment shall, in
the case of a Optionee who is not an employee of the Company or a Subsidiary,
refer to the termination of the Optionee's service with the Company.

                  (d) To the extent not previously exercised, (i) each Option
shall terminate immediately in the event of (1) the liquidation or dissolution
of the Company, or (2) any reorganization, merger, consolidation or other form
of corporate transaction in which the Company does not survive, unless the
successor corporation, or a parent or subsidiary of such successor corporation,
assumes the Option or substitutes an equivalent option or right pursuant to
Section 10(c) hereof, and (ii) the Committee or the Board in its sole discretion
may by written notice ("cancellation notice") cancel, effective upon the
consummation of any corporate transaction described in Subsection 8(b)(i) hereof
in which the Company does survive, any Option that remains unexercised on such
date. The Committee or the Board shall give written notice of any proposed
transaction referred to in this Section 9(b) a reasonable period of time prior
to the closing date for such transaction (which notice may be given either
before or after approval of such transaction), in order that Optionees may have
a reasonable period of time prior to the closing date of such transaction within
which to exercise any Options that then are exercisable (including any Options
that may become exercisable upon the closing date of such transaction). An
Optionee may condition his exercise of any Option upon the consummation of a
transaction referred to in this Section 9(b).

         10. ADJUSTMENT OF SHARES.

                  (a) If at any time while the Plan is in effect or unexercised
Options are outstanding, there shall be any increase or decrease in the number
of issued and outstanding Shares through the declaration of a stock dividend or
through any recapitalization resulting in a stock split-up, combination or
exchange of Shares, then and in such event:

                           (i) appropriate adjustment shall be made in the
maximum number of Shares available for grant under the Plan, or available for
grant to any person under the Plan, so that the same percentage of the Company's
issued and outstanding Shares shall continue to be subject to being so optioned;
and

                           (ii) the Board or the Committee may, in its
discretion, make any adjustments it deems appropriate in the number of Shares
and the exercise price per Share thereof then subject to any outstanding Option,
so that the same percentage of the Company's issued and outstanding Shares shall
remain subject to purchase at the same aggregate exercise price.

                  (b) Unless otherwise provided in any Option, the Committee or
the Board may change the terms of Options outstanding under this Plan, with
respect to the option price or the number of Shares subject to the Options, or
both, when, in the Committee's or Board's sole discretion, such adjustments
become appropriate so as to preserve but not increase benefits under the Plan.

                  (c) In the event of a proposed sale of all or substantially
all of the Company's assets or any reorganization, merger, consolidation or
other form of corporate transaction in which the Company does not survive, where
the securities of the successor corporation, or its parent company, are issued
to the Company's shareholders, then the successor corporation or a parent of the
successor corporation may, with the consent of the Committee or the Board,
assume each outstanding Option or substitute an equivalent option or right. If
the successor corporation, or its parent, does not cause such an assumption or
substitution to occur, or the Committee or the Board does not consent to such an
assumption or substitution, then each Option shall terminate pursuant to Section
9(b) hereof upon the consummation of sale, merger, consolidation or other
corporate transaction.

                  (d) Except as otherwise expressly provided herein, the
issuance by the Company of shares of its capital stock of any class, or
securities convertible into shares of capital stock of any class, either in
connection with a direct sale or upon the exercise of rights or warrants to
subscribe therefor, or upon conversion of shares or obligations

                                        7

<PAGE>   8

of the Company convertible into such shares or other securities, shall not
affect, and no adjustment by reason thereof shall be made to, the number of or
exercise price for Shares then subject to outstanding Options granted under the
Plan.

                  (e) Without limiting the generality of the foregoing, the
existence of outstanding Options granted under the Plan shall not affect in any
manner the right or power of the Company to make, authorize or consummate (i)
any or all adjustments, recapitalizations, reorganizations or other changes in
the Company's capital structure or its business; (ii) any merger or
consolidation of the Company; (iii) any issue by the Company of debt securities,
or preferred or preference stock that would rank above the Shares subject to
outstanding Options; (iv) the dissolution or liquidation of the Company; (v) any
sale, transfer or assignment of all or any part of the assets or business of the
Company; or (vi) any other corporate act or proceeding, whether of a similar
character or otherwise.

         11. TRANSFERABILITY OF OPTIONS AND SHARES.

                  (a) No Incentive Stock Option, and unless the prior written
consent of the Committee or the Board is obtained (which consent may be withheld
for any reason) and the transaction does not violate the requirements of Rule
16b-3 promulgated under the Securities Exchange Act no Non-Qualified Stock
Option, shall be subject to alienation, assignment, pledge, charge or other
transfer other than by the Optionee by will or the laws of descent and
distribution, and any attempt to make any such prohibited transfer shall be
void. Each Option shall be exercisable during the Optionee's lifetime only by
the Optionee, or in the case of a Non-Qualified Stock Option that has been
assigned or transferred with the prior written consent of the Committee or the
Board, only by the permitted assignee.

                  (b) No Shares acquired by an Officer or Director pursuant to
the exercise of an Option may be sold, assigned, pledged or otherwise
transferred prior to the expiration of the six-month period following the date
on which the Option was granted, unless the transaction does not violate the
requirements of Rule 16b-3 promulgated under the Securities Exchange Act.

         12. ISSUANCE OF SHARES.

                  (a) Notwithstanding any other provision of this Plan, the
Company shall not be obligated to issue any Shares unless it is advised by
counsel of its selection that it may do so without violation of the applicable
Federal and State laws pertaining to the issuance of securities, and may require
any stock so issued to bear a legend, may give its transfer agent instructions,
and may take such other steps, as in its judgment are reasonably required to
prevent any such violation.

                  (b) As a condition to any sale or issuance of Shares upon
exercise of any Option, the Committee or the Board may require such agreements
or undertakings as the Committee or the Board may deem necessary or advisable to
facilitate compliance with any applicable law or regulation including, but not
limited to, the following:

                           (i) a representation and warranty by the Optionee to
the Company, at the time any Option is exercised, that he is acquiring the
Shares to be issued to him for investment and not with a view to, or for sale in
connection with, the distribution of any such Shares; and

                           (ii) a representation, warranty and/or agreement to
be bound by any legends endorsed upon the certificate(s) for such Shares that
are, in the opinion of the Committee or the Board, necessary or appropriate to
facilitate compliance with the provisions of any securities laws deemed by the
Committee or the Board to be applicable to the issuance and transfer of such
Shares.

         13. ADMINISTRATION OF THE PLAN.

                  (a) The Plan shall be administered by the Board or by a
committee appointed by the Board (the "Committee") which shall be composed of
two or more Directors all of whom shall be Outside Directors. The membership of
the Committee shall be constituted so as to comply at all times with the
applicable requirements of Rule

                                        8

<PAGE>   9

16b-3 promulgated under the Securities Exchange Act and Section 162(m) of the
Internal Revenue Code. The Committee shall serve at the pleasure of the Board
and shall have the powers designated herein and such other powers as the Board
may from time to time confer upon it.

                  (b) The Board may grant Options pursuant to this Plan to
Directors who are not employees of the Company or any Subsidiary and/or other
persons to whom Options may be granted under Section 5(a) hereof.

                  (c) The Committee or the Board, from time to time, may adopt
rules and regulations for carrying out the purposes of the Plan. The
determinations by the Committee or the Board, and the interpretation and
construction of any provision of the Plan or any Option by the Committee or the
Board, shall be final and conclusive.

                  (d) Any and all decisions or determinations of the Committee
shall be made either (i) by a majority vote of the members of the Committee at a
meeting or (ii) without a meeting by the unanimous written approval of the
members of the Committee.

                  (e) No member of the Board or the Committee shall be liable
for any action or determination made in good faith with respect to this Plan or
any option granted hereunder.

         14. WITHHOLDING OR DEDUCTION FOR TAXES. If at any time specified herein
for the making of any issuance or delivery of any Option or Common Stock to any
Optionee or beneficiary, any law or regulation of any governmental authority
having jurisdiction in the premises shall require the Company to withhold, or to
make any deduction for, any taxes or take any other action in connection with
the issuance or delivery then to be made, such issuance or delivery shall be
deferred until such withholding or deduction shall have been provided for by the
Optionee or beneficiary, or other appropriate action shall have been taken.

         15. INTERPRETATION.

                  (a) As it is the intent of the Company that the Plan comply in
all respects with Rule 16b-3 promulgated under the Securities Exchange Act
("Rule 16b-3"), any ambiguities or inconsistencies in construction of the Plan
shall be interpreted to give effect to such intention, and if any provision of
the Plan is found not to be in compliance with Rule 16b-3, such provision shall
be deemed null and void to the extent required to permit the Plan to comply with
Rule 16b-3. The Committee or the Board may from time to time adopt rules and
regulations under, and amend, the Plan in furtherance of the intent of the
foregoing.

                  (b) The Plan and any Option agreements entered into pursuant
to the Plan shall be administered and interpreted so that all Incentive Stock
Options granted under the Plan will qualify as Incentive Stock Options under
section 422 of the Internal Revenue Code. If any provision of the Plan or any
such Option agreement should be held invalid for the granting of Incentive Stock
Options or illegal for any reason, such determination shall not affect the
remaining provisions hereof, but instead the Plan and the Option agreement shall
be construed and enforced as if such provision had never been included in the
Plan or the Option agreement.

                  (c) This Plan shall be governed by the laws of the State of
Florida.

                  (d) Headings contained in this Plan are for convenience only
and shall in no manner be construed as part of this Plan.

                  (e) Any reference to the masculine, feminine, or neuter gender
shall be a reference to such other gender as is appropriate.

         16. AMENDMENT AND DISCONTINUATION OF THE PLAN. The Committee or the
Board may from time to time amend, suspend or terminate the Plan or any Option;
provided, however, that, any amendment to the Plan shall be subject to the
approval of the Company's shareholders if such shareholder approval is required
by any federal or state law or regulation (including, without limitation, Rule
16b-3 or to comply with Section 162(m) of the Internal Revenue Code) or the
rules of any Stock exchange or automated quotation system on which the Common
Stock may then be listed or granted. Except to the extent provided in Sections 9
and 10 hereof, no amendment, suspension or termination of the Plan or any Option
issued hereunder shall substantially impair the rights or benefits of any
Optionee pursuant to any Option previously granted without the consent of the
Optionee.

         17. EFFECTIVE DATE AND TERMINATION DATE. The original effective date of
the Plan is the date on which the Board adopted the original Plan, and the Plan
shall terminate on the tenth anniversary of such date. The Plan, as amended and
restated, shall be effective as of the date on which the Board adopts this
amended and restated Plan. The Plan shall be submitted to the shareholders of
the Company for their approval and adoption within twelve (12) months of the
date of adoption, and Options hereunder may be granted prior to such approval
and adoption but contingent upon such approval and adoption.

                                        9

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