Document:

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                                                                    EXHIBIT 10.8

                         EXECUTIVE EMPLOYMENT AGREEMENT

         EMPLOYMENT AGREEMENT ("Agreement") dated as of December 2, 1999 between
Worldwide Flight Services, Inc., a Delaware corporation, together with its
subsidiaries (the "Company") and Doug Pinckney (the "Executive").

         WHEREAS, the parties wish to establish the terms of Executive's future
employment with the Company.

         Accordingly, the parties agree as follows:

         1.       Employment, Duties and Acceptance.

                  1.1      Employment by the Company. The Company shall employ
the Executive effective as of the first day he reports to work at the Company as
agreed upon by the Company and the Executive (the "Effective Date") (which date
shall not be later than December 6, 1999) to render exclusive and full-time
services to the Company. The Executive will serve in the capacity of Senior Vice
President, Sales and Marketing of the Company and shall report to the President
and Chief Operating Officer of the Company. The Executive will perform such
duties as are imposed on the holder of that office by the By-laws of the Company
and such other duties as are customarily performed by one holding such positions
in the same or similar businesses or enterprises as those of the Company,
including, but not limited to, the responsibilities outlined in the "Position
and Candidate Specifications" attached hereto. The Executive will perform such
other duties as may be assigned to him from time to time by the President and
Chief Operating Officer, the Chief Executive Officer or the Board of Directors
of the Company. The Executive will devote all his full working-time and
attention to the performance of such duties and to the promotion of the business
and interests of the Company. This provision, however, will not prevent the
Executive from investing his funds or assets in any form or manner, or from
acting as a member of the board of directors of any companies, businesses, or
charitable organizations, so long as such actions do not violate the provisions
of Section 5 of this Agreement.

                  1.2      Location. The Executive's principal place of
employment shall be the Company's headquarters located in the Dallas/Fort Worth,
Texas area, subject to any travel required in connection with providing services
under this Agreement.

                  1.3      Acceptance of Employment by the Executive. The
Executive accepts such employment and shall render the services described above.

         2.       Duration of Employment.

                  This Agreement and the employment relationship hereunder will
continue in effect for three (3) years from the Effective Date (the "Term"). At
a time at least nine (9) months prior to the expiration of the Term, the Company
and the Executive shall discuss whether the Agreement should be renewed upon
mutual written agreement. In the event of the Executive's termination of
employment during the Term, the Company's obligation to continue to

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pay all base salary, bonus and other benefits then accrued shall terminate
except as may be provided for in Section 4 of this Agreement.

         3.       Compensation by the Company.

                  3.1      Base Salary. As compensation for all services
rendered pursuant to this Agreement, the Company will pay to the Executive an
annual base salary of One Hundred Seventy-Five Thousand Dollars ($175,000),
subject to an upward adjustment by the Board of Directors of the Company, in its
sole discretion, and payable in accordance with the payroll practices of the
Company ("Base Salary").

                  3.2      Bonuses. The Executive shall be entitled to receive
from the Company an annual cash bonus in an amount determined by the
Compensation Committee of the Board of Directors of the Company, up to a maximum
amount of fifty percent (50%) of Base Salary.

                  3.3      Signing Bonus. The Company shall pay to the Executive
a one-time bonus of Forty Thousand Dollars ($40,000) as follows: (i) Twenty
Thousand Dollars ($20,000) on the Effective Date and (ii) Twenty Thousand
Dollars ($20,000) on the three month anniversary of the Effective Date, with
respect to the foregone value of unpaid retention bonuses payable by Sea-Land.

                  3.4      Participation in Employee Benefit Plans. The
Executive shall be permitted, during the Term, if and to the extent eligible, to
participate in any group life, hospitalization or disability insurance plan,
health program, pension plan or similar benefit plan of the Company, which may
be available to other executives of the Company generally, on the same terms as
such other executives.

                  3.5      Stock Options. Over a period of time of not less than
three (3) years and provided the Executive remains employed by the Company, the
Executive shall be granted options under the WFS Holdings, Inc. 1999 Stock
Option Plan (the "Stock Option Plan") for the purchase of up to 5,000 shares of
non-voting common stock of WFS Holdings, Inc. ("Holdings"). All terms and
conditions applicable to such stock options shall be governed by the provisions
of the Stock Option Plan and any stock option agreements thereunder, as approved
by the Compensation Committee of the Board of Directors of Holdings.

                  3.6      Purchase of Stock. For a period of one (1) month from
the Effective Date, the Executive shall be provided with the opportunity to
purchase additional equity in Holdings in the form of units ("Units"), up to a
number of Units as agreed with the Compensation Committee of the Board of
Directors of Holdings. Each Unit shall consist of one share of voting common
stock of Holdings, priced at $3.25, and 2.5 shares of preferred stock of
Holdings, priced at $10.00 per share, yielding a Unit price of $28.25. The
purchase of the Units shall be subject to the Management Subscription Agreement
and the Stock Buy Back Agreement between Holdings and the Executive. The Company
and Executive may agree to have the Company finance, with full recourse, up to
fifty percent (50%) of the purchase price of such Units.

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                  3.7      Car Allowance. The Executive shall be entitled to a
monthly car allowance equal to Four Hundred Dollars ($400).

                  3.8      Club Membership. The Company shall pay the cost of a
corporate membership for the use of the Executive for a Dallas/Fort Worth, Texas
area club membership, up to a maximum one time initiation fee of Twenty-Five
Thousand Dollars ($25,000) and pay the ongoing annual dues of such club, during
the Term, up to a maximum of Two Thousand Five Hundred Dollars ($2,500) per
annum.

                  3.9      Vacation. The Executive shall be entitled to twenty
(20) days of vacation per year.

                  3.10     Expense Reimbursement. During the Term, the Executive
shall be entitled to receive prompt reimbursement of all reasonable
out-of-pocket expenses properly incurred by him in connection with his duties
under this Agreement, including reasonable expenses of entertainment and travel,
provided that such expenses are properly approved, documented and reported in
accordance with the policies and procedures of the Company applicable at the
time the expenses are incurred.

                  3.11     Relocation Package. The Company shall offer to the
Executive a comprehensive relocation package designed to cover or reimburse the
Executive for all reasonable expenses associated with the Executive's move from
Atlanta, Georgia to the Dallas/Fort Worth, Texas area in accordance with the
provisions of the Sea-Land relocation policy attached hereto.

         4.       Termination.

                  4.1      Termination Upon Death. If the Executive dies during
the Term, the Executive's legal representatives shall be entitled to receive the
Executive's Base Salary and accrued bonus for the period ending on the last day
of the month in which the death of the Executive occurs.

                  4.2      Termination Upon Disability. If during the Term the
Executive meets the requirements for physical or mental disability under the
Company's long-term disability plan and is eligible to receive benefits
thereunder, the Company may at any time prior to the Executive's recovery but
after the last day of the sixth consecutive month of such disability, by written
notice to the Executive, terminate the Executive's employment hereunder.

                  Additionally, in such event, the Executive (or his legal
representatives) shall be entitled to receive the Executive's Base Salary and
accrued bonus for the period ending on the date such termination occurred.
Nothing in this Section 4.2 shall be deemed to in any way affect the Executive's
right to participate in any disability plan maintained by the Company and for
which the Executive is otherwise eligible.

                  4.3      Termination for Cause. The Executive's employment
hereunder may be terminated by the Company for "Cause" (as herein defined) at
any time. "Cause" shall mean with respect to the Executive, (a) the Executive's
willful and continued failure to substantially

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perform the Executive's duties, (b) repeated acts of insubordination, or willful
failure to execute Company plans and/or strategies, (c) acts of dishonesty
resulting or intending to result in personal gain or enrichment at the expense
of the Company, (d) conviction of, or pleading guilty or no contest to, a
felony, all as determined by the Board of Directors of the Company in its
reasonable judgment; (e) reasonable evidence presented in writing to the
Executive that the Executive engaged in a criminal act involving moral turpitude
or willful misconduct or (f) conduct not conforming to standards of good
citizenship or good moral character, or which is potentially detrimental to the
Company's business, reputation, character or standing, provided that, in the
case of clauses (a) and (b), the Executive shall be entitled to written notice
from the Company and twenty (20) days to cure such deficiency. Breach of this
Agreement and to the extent that an Executive is subject to a non-competition
and confidentiality agreement, breach of such non-competition and
confidentiality agreement, shall constitute Cause under this Agreement.

                  Upon termination for Cause hereunder, the Executive shall be
entitled to receive the Executive's Base Salary through the date of termination.

                  4.4      Voluntary Termination. The Executive may upon at
least ninety (90) days prior written notice to the Company terminate employment
hereunder. Upon a voluntary termination the Executive shall be entitled to
receive the Executive's Base Salary through the date of termination.

                  4.5      Termination by the Company Other Than For Cause.

                           (a)      If, prior to the expiration of this
Agreement, the Company terminates the Executive's employment for any reason
other than Cause, in lieu of additional salary payments to the Executive for
periods subsequent to the date of such termination, the Company shall pay to the
Executive his Base Salary for the remaining duration of the Term.

                           (b)      For the length of the period for which
severance benefits are provided after any termination pursuant to this Section
4.5, the Company shall arrange to provide the Executive with life, disability,
accident and group health insurance benefits substantially similar to those
which the Executive was receiving immediately prior to the notice of
termination. Benefits otherwise receivable by the Executive pursuant to this
paragraph (b) shall be reduced to the extent comparable benefits are actually
received by the Executive during the period following the Executive's
termination, and any such benefits actually received by the Executive shall be
reported to the Company.

                           (c)      Nothing contained in this Section 4.5 shall
prevent the Executive from receiving any and all benefits payable under any
severance benefit plan or program maintained by the Company to which the
Executive is entitled.

         5        Restrictions and Obligations of the Executive.

                  5.1      Confidentiality. (a) During the course of the
Executive's employment by the Company, the Executive will have access to certain
trade secrets and confidential information relating to the Company which is not
readily available from sources

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outside the Company. The confidential and proprietary information and, in any
material respect, trade secrets of the Company are among its most valuable
assets, including but not limited to, its customer and vendor lists, database,
engineering, computer programs, frameworks, models, its marketing programs, its
sales, financial, marketing, training and technical information, and any other
information, whether communicated orally, electronically, in writing or in other
tangible forms concerning how the Company creates, develops, acquires or
maintains its products and marketing plans, targets its potential customers and
operates its retail and other businesses. The Company invested, and continues to
invest, considerable amounts of time and money in its process, technology,
know-how, obtaining and developing the goodwill of its customers, its other
external relationships, its data systems and data bases, and all the information
described above (hereinafter collectively referred to as "Confidential
Information"), and any misappropriation or unauthorized disclosure of
Confidential Information in any form would irreparably harm the Company. The
Executive acknowledges that such Confidential Information constitutes valuable,
highly confidential, special and unique property of the Company. The Executive
shall hold in a fiduciary capacity for the benefit of the Company all
Confidential Information relating to the Company and its business, which shall
have been obtained by the Executive during the Executive's employment by the
Company and which shall not be or become public knowledge (other than by acts by
the Executive or representatives of the Executive in violation of this
Agreement). Except as required by law or an order of a court or governmental
agency with jurisdiction, the Executive shall not, during the period the
Executive is employed by the Company or at any time thereafter, disclose any
Confidential Information, directly or indirectly, to any person or entity for
any reason or purpose whatsoever, nor shall the Executive use it in any way,
except as necessary in the course of the Executive's employment with the
Company. The Executive shall take all reasonable steps to safeguard the
Confidential Information and to protect it against disclosure, misuse,
espionage, loss and theft. The Executive understands and agrees that the
Executive shall acquire no rights to any such Confidential Information.

                           (b)      All files, records, documents, drawings,
specifications, data, computer programs, evaluation mechanisms and analytics and
similar items relating thereto or to the Business (for the purposes of this
Agreement, "Business" shall be as defined in any non-competition and
confidentiality agreement that may be established between the Executive and the
Company and/or Holdings), as well as all customer lists, specific customer
information, compilations of product research and marketing techniques of the
Company, whether prepared by the Executive or otherwise coming into the
Executive's possession, shall remain the exclusive property of the Company, and
the Executive shall not remove any such items from the premises of the Company,
except in furtherance of the Executive's duties under any employment agreement.

                           (c)      It is understood that while employed by the
Company the Executive will promptly disclose to it, and assign to it the
Executive's interest in any invention, improvement or discovery made or
conceived by the Executive, either alone or jointly with others, which arises
out of the Executive's employment. At the Company's request and expense, the
Executive will assist the Company during the period of the Executive's
employment by the Company and thereafter in connection with any controversy or
legal proceeding relating to such invention, improvement or discovery and in
obtaining domestic and foreign patent or other protection covering the same.

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                  (d)      As requested by the Company from time to time and
upon the termination of the Executive's employment with the Company for any
reason, the Executive will promptly deliver to the Company all copies and
embodiments, in whatever form, of all Confidential Information in the
Executive's possession or within his control (including, but not limited to,
memoranda, records, notes, plans, photographs, manuals, notebooks,
documentation, program listings, flow charts, magnetic media, disks, diskettes,
tapes and all other materials containing any Confidential Information)
irrespective of the location or form of such material. If requested by the
Company, the Executive will provide the Company with written confirmation that
all such materials have been delivered to the Company as provided herein.

                  5.2      Non-Solicitation or Hire. During the Term and for a
three (3) year period following the termination of the Executive's employment
for any reason, the Executive shall not, (a) solicit, directly or indirectly,
any party who is a customer of the Company or its subsidiaries, or who was a
customer of the Company or its subsidiaries at any time during the twelve (12)
month period immediately prior to the relevant date, for the purpose of
marketing, selling or providing to any party any services or products offered by
or available from the Company or its subsidiaries and relating to the Business
(provided that if the Executive intends to solicit any such party for any other
purpose, it shall notify the Company of such intention) or (b) employ or
solicit, directly or indirectly, for employment any person who is an employee of
the Company or any of its subsidiaries or who was an employee of the Company or
any of its subsidiaries at any time during the twelve (12) month period
immediately prior to any such solicitation or employment.

                  5.3      Non-Competition. The Executive shall be bound by the
terms of any non-competition and confidentiality agreement that may be
established between the Executive and the Company and/or Holdings.

                  5.4      The Executive agrees not to engage in any act that is
intended, or may reasonably by expected to harm the reputation, business,
prospects or operations of the Company, its officers, directors, stockholders or
employees. The Company further agrees that it will engage in no act which is
intended, or may reasonably be expected to harm the reputation, business or
prospects of the Executive.

                  5.5      Property. The Executive acknowledges that all
originals and copies of materials, records and documents generated by him or
coming into his possession during his employment by the Company are the sole
property of the Company ("Company Property"). During the Term, and at all times
thereafter, the Executive shall not remove, or cause to be removed, from the
premises of the Company, copies of any record, file, memorandum, document,
computer related information or equipment, or any other item relating to the
business of the Company, or any affiliate, except in furtherance of his duties
under the Agreement. When the Executive terminates his employment with the
Company, or upon request of the Company at any time, the Executive shall
promptly deliver to the Company all copies of Company Property in his possession
or control.

                  5.6      Work Product. The Executive agrees that all
inventions, discoveries, systems, interfaces, protocols, concepts, formats,
creations, developments, designs,

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programs, products, processes, investment strategies, materials, computer
programs or software, data bases, improvements, or other properties related to
the business of the Company or any of its affiliates, conceived, made or
developed during the term of his employment with the Company, whether conceived
by the Executive alone or working with others, and whether patentable or not
(the "Work Product"), shall be owned by and belong exclusively to the Company.
The Executive hereby assigns to the Company his entire rights to the Work
Product and agrees to execute any documents and take any action reasonably
requested by the Company to protect the rights of the Company in any Work
Product. The Executive acknowledges that any copyrightable subject matter
created by the Executive within the scope of his employment, whether containing
or involving Confidential Information or not, is deemed a work-made-for-hire
under Chapter 17 of the United States Code, entitled "Copyrights," as amended,
and the Company shall be deemed the sole author and owner thereof for any
purposes whatsoever. In the event of any unauthorized publication of any
Confidential Information, the Company shall automatically own the copyright in
such publication. Further, the Company shall automatically hold all patents
and/or trademarks, if any, with respect to any Work Product.

                  5.7      Tax Withholding. The Company or other payor is
authorized to withhold, from any benefit provided or payment due hereunder, the
amount of withholding taxes due any federal, state or local authority in respect
of such benefit or payment and to take such other action as may be necessary in
the opinion of the Board of Directors of the Company to satisfy all obligations
for the payment of such withholding taxes.

         6.       Other Provisions.

                  6.1      Notices. Any notice or other communication required
or which may be given hereunder shall be in writing and shall be delivered
personally, telegraphed, telexed, sent by facsimile transmission or sent by
certified, registered or express mail, postage prepaid, and shall be deemed
given when so delivered personally, telegraphed, telexed, or sent by facsimile
transmission or, if mailed, four (4) days after the date of mailing, as follows:

                  (a)      If the Company, to:

                                    Worldwide Flight Services, Inc.
                                    1001 West Euless Boulevard
                                    Suite 320
                                    Euless, Texas 76040

                                    Attention:       Mark Dunkerley
                                    Telephone:       (817) 665-3228
                                    Fax:             (817) 665-3270

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                                    With a copy to:

                                    WFS Holdings, Inc.
                                    c/o Castle Harlan Partners III, L.P.
                                    150 E. 58th Street
                                    New York, NY  10155

                                    Attention:       Marcel Fournier
                                    Telephone:       (212) 644-8600
                                    Fax:             (212) 207-8042

                                    And a copy to:

                                    Schulte Roth & Zabel LLP
                                    900 Third Avenue
                                    New York, NY  10022

                                    Attention:       Marc Weingarten, Esq.
                                    Telephone:       (212) 756-2000
                                    Fax:             (212) 593-5955

                           (b)      If the Executive, to his home address set
forth in the records of the Company.

                           6.2      Entire Agreement. Except as provided in
Sections 3.5, 3.6 and 5.3 hereof, this Agreement contains the entire agreement
between the parties with respect to the subject matter hereof and supersedes all
prior agreements, written or oral, with respect thereto.

                           6.3      Representations and Warranties by Executive.
The Executive represents and warrants that he is not a party to or subject to
any restrictive covenants, legal restrictions or other agreements in favor of
any entity or person which would in any way preclude, inhibit, impair or limit
the Executive's ability to perform his obligations under this Agreement,
including, but not limited to, non-competition agreements, non-solicitation
agreements or confidentiality agreements.

                           6.4      Waiver and Amendments. This Agreement may be
amended, modified, superseded, canceled, renewed or extended, and the terms and
conditions hereof may be waived, only by a written instrument signed by the
parties or, in the case of a waiver, by the party waiving compliance. No delay
on the part of any party in exercising any right, power or privilege hereunder
shall operate as a waiver thereof, nor shall any waiver on the part of any
right, power or privilege hereunder, nor any single or partial exercise of any
right, power or privilege hereunder, preclude any other or further exercise
thereof or the exercise of any other right, power or privilege hereunder.

                           6.5      Governing Law. This Agreement shall be
governed and construed in accordance with the laws of the State of New York.

                           6.6      Assignability. This Agreement, and the
Executive's rights and obligations hereunder, may not be assigned by the
Executive. The Company may assign this

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Agreement and its rights, together with its obligations, to any other entity
which will substantially carry on the business of the Company.

                           6.7      Counterparts. This Agreement may be executed
in two (2) or more counterparts, each of which shall be deemed an original but
all of which shall constitute one and the same instrument, and it shall not be
necessary in making proof of this Agreement to produce or account for more than
one such counterpart.

                           6.8      Headings. The headings in this Agreement are
for convenience of reference only and shall not limit or otherwise affect the
meaning of terms contained herein.

                           6.9      Remedies; Specific Performance. The parties
hereto hereby acknowledge that the provisions of Section 5 are reasonable and
necessary for the protection of the Company. In addition, the Executive further
acknowledges that the Company will be irrevocably damaged if such covenants are
not specifically enforced. Accordingly, the Executive agrees that, in addition
to any other relief to which the Company may be entitled, the Company will be
entitled to seek and obtain injunctive relief (without the requirement of any
bond) from a court of competent jurisdiction for the purposes of restraining the
Executive from any actual or threatened breach of such covenants. In addition,
without limiting the Company's remedies for any breach of any restriction on the
Executive set forth in Section 5, except as required by law, the Executive shall
not be entitled to any payments set forth in Section 4 hereof if the Executive
breaches any of the covenants applicable to the Executive contained in Section
5, the Executive will immediately return to the Company any such payments
previously received under Section 4.5 upon such a breach, and, in the event of
such breach, the Company will have no obligation to pay any of the amounts that
remain payable by the Company under Section 4.

                           6.10     Severability. If any term, provision,
covenant or restriction of this Agreement, or any part thereof, is held by a
court of competent jurisdiction of any foreign, federal, state, county or local
government or any other governmental, regulatory or administrative agency or
authority to be invalid, void, unenforceable or against public policy for any
reason, the remainder of the terms, provisions, covenants and restrictions of
this Agreement shall remain in full force and effect and shall in no way be
affected or impaired or invalidated. The Executive acknowledges that the
restrictive covenants contained in Section 5 are a condition of this Agreement
and are reasonable and valid in geographical and temporal scope and in all other
respects.

                           6.11     Judicial Modification. If any court or
arbitrator determines that any of the covenants in Section 5, or any part of any
of them, is invalid or unenforceable, the remainder of such covenants and parts
thereof shall not thereby be affected and shall be given full effect, without
regard to the invalid portion. If any court or arbitrator determines that any of
such covenants, or any part thereof, is invalid or unenforceable because of the
geographic or temporal scope of such provision, such court or arbitrator shall
reduce such scope to the minimum extent necessary to make such covenants valid
and enforceable.

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                  IN WITNESS WHEREOF, the parties hereto, intending to be
legally bound hereby, have executed this Agreement as of the day and year first
above mentioned.

                            EXECUTIVE

                               /s/  Doug Pinckney
                            --------------------------------------------------
                            Doug Pinckney

                            WORLDWIDE FLIGHT SERVICES, INC.

                            By:     /s/ Mark Dunkerley
                               -----------------------------------------------
                               Name:  Mark Dunkerley
                               Title: President and Chief Operating Officer

                                      -10-<PAGE>   1
                                                                    Exhibit 10.2

                            IDEXX LABORATORIES, INC.

                             1991 STOCK OPTION PLAN

                              (AS OF JULY 21, 1999)

1.      PURPOSE.

        The purpose of this plan (the "Plan") is to secure for IDEXX
Laboratories, Inc. (the "Company") and its shareholders the benefits arising
from capital stock ownership by employees, officers and directors of, and
consultants or advisors to, the Company and its parent and subsidiary
corporations who are expected to contribute to the Company's future growth and
success. Except where the context otherwise requires, the term "Company" shall
include the parent and all present and future subsidiaries of the Company as
defined in Sections 424(e) and 424(f) of the Internal Revenue Code of 1986, as
amended or replaced from time to time (the "Code"). Those provisions of the Plan
which make express reference to Section 422 of the Code shall apply only to
Incentive Stock Options (as that term is defined in the Plan).

2.      TYPE OF OPTIONS AND ADMINISTRATION.

        (a) TYPES OF OPTIONS. Options granted pursuant to the Plan shall be
authorized by action of the Board of Directors of the Company (or a Committee
designated by the Board of Directors) and may be either incentive stock options
("Incentive Stock Options") meeting the requirements of Section 422 of the Code
or non-qualified options which are not intended to meet the requirements of
Section 422 of the Code.

        (b) ADMINISTRATION. The Plan will be administered by the Board of
Directors of the Company, whose construction and interpretation on the terms and
provisions of the Plan shall be final and conclusive. The Board of Directors may
in its sole discretion grant options to purchase shares of the Company's Common
Stock, par value $.10 per share ("Common Stock"), and issue shares upon exercise
of such options as provided in the Plan. The Board shall have authority, subject
to the express provisions of the Plan, to construe the respective option
agreements and the Plan, to prescribe, amend and rescind rules and regulations
relating to the Plan, to determine the terms and provisions of the respective
options agreements, which need not be identical, and to make all other
determinations in the judgment of the Board of Directors necessary or desirable
for the administration of the Plan. The Board of Directors may correct any
defect or supply any omission or reconcile any inconsistency in the Plan or in
any option agreement in the manner and to the extent it shall deem expedient to
carry the Plan into effect and it shall be the sole and final judge of such
expediency. No director or person acting pursuant to authority delegated by the
Board of Directors shall be liable for any action or determination made in good
faith. The Board of Directors may, to the full extent permitted by or consistent
with applicable laws or regulations (including, without limitation, applicable
state law and Rule 16b-3 promulgated under the Securities Exchange Act of 1934
(the "Exchange Act"), or any successor rule ("Rule 16b-3")), delegate any or all
of its powers under the Plan to a committee (the "Committee") appointed by the
Board of Directors, and if the Committee is so appointed all references to the
Board of Directors in the Plan shall mean and relate to such Committee.

        (c) APPLICABILITY OF RULE 16b-3. Those provisions of the Plan which make
express reference to Rule 16b-3 shall apply to the Company only at such time as
the Company's Common Stock or another class of equity security is registered
under the Exchange Act, and then only to such persons as are required to file
reports under Section 16(a) of the Exchange Act.

3.      ELIGIBILITY.

         (a) GENERAL. Options may be granted to persons who are, at the time of
grant, employees or officers of, or consultants or advisors to, the Company;
PROVIDED, that Incentive Stock Options may be granted only to persons who are
eligible to receive such options under Section 422 of the Code. In addition, no
person shall be granted any Incentive Stock Option under the Plan who, at the
time such option is granted, owns, directly or indirectly, stock possessing more
than 10% of the total combined voting power of all classes of stock of the
Company, unless the requirements of Section 11(b) are satisfied. The attribution

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of stock ownership provisions of Section 424(d) of the Code, and any successor
provisions thereto, shall be applied in determining the shares of stock owned by
a person for purposes of applying the foregoing percentage limitation. A person
who has been granted an option may, if he or she is otherwise eligible, be
granted an additional option or options if the Board of Directors shall so
determine. Subject to adjustment as provided in Section 15 below, the maximum
number of shares with respect to which options may be granted to any employee
under the Plan shall not exceed 1,000,000 shares of common stock during any one
calendar year. For the purpose of calculating such maximum number, (a) an option
shall continue to be treated as outstanding notwithstanding its repricing,
cancellation, or expiration and (b) the repricing of an outstanding option or
the issuance of a new option in substitution for a cancelled option shall be
deemed to constitute the grant of a new additional option separate from the
original grant of the option that is repriced or cancelled.

        (b) GRANT OF OPTIONS TO DIRECTORS AND OFFICERS. From and after the
registration of the Common Stock of the Company under the Exchange Act, the
selection of a director or an officer (as the terms "director" and "officer" are
defined for the purposes of Rule 16b-3) as a recipient of an option, the timing
of the option grant, the exercise price of the option and the number of shares
subject to the option shall be determined either (i) by the Board of Directors,
of which all members shall be "disinterested persons" (as hereinafter defined),
or (ii) by a committee of two or more directors having full authority to act in
the matter, of which all members shall be "disinterested persons". For the
purposes of the Plan, a director shall be deemed to be a "disinterested person"
only is such person qualifies as a "disinterested person" within the meaning of
Rule 16b-3, as such term is interpreted from time to time.

4.      STOCK SUBJECT TO PLAN.

        Subject to adjustment as provided in Section 15 below, the maximum
number of shares of Common Stock of the Company which may be issued and sold
under the Plan is 6,475,000 shares. Such shares may be authorized and unissued
shares or may be shares issued and thereafter acquired by the Company. If an
option granted under the Plan shall expire or terminate for any reason without
having been exercised in full, the unpurchased shares subject to such option
shall again be available for subsequent option grants under the Plan. If shares
issued upon exercise of an option under the Plan are tendered to the Company in
payment of the exercise price of an option granted under the Plan, such tendered
shares shall again be available for subsequent option grants under the Plan;
provided, that in no event shall (i) the total number of shares issued pursuant
to the exercise of Incentive Stock Options under the Plan, on a cumulative
basis, exceed the maximum number of shares authorized for issuance under the
Plan exclusive of shares made available for issuance pursuant to this sentence
or (ii) the total number of shares issued pursuant to the exercise of options by
persons who are required to file reports under Section 16(a) of the Exchange
Act, on a cumulative basis, exceed the maximum number of shares authorized for
issuance under the Plan exclusive of shares made available for issuance pursuant
to this sentence.

5.      FORMS OF OPTION AGREEMENTS.

        As a condition to the grant of an option under the Plan, each recipient
of an option shall execute an option agreement in such form not inconsistent
with the Plan as may be approved by the Board of Directors. Each option
agreement shall specifically state whether the options granted thereby are
intended to be Incentive Stock Options or non-qualified options. Such option
agreements may differ among recipients.

6.      PURCHASE PRICE.

        (a) GENERAL. The purchase price per share of stock deliverable upon the
exercise of an option shall be determined by the Board of Directors, PROVIDED,
HOWEVER, that the exercise price shall not be less than 100% of the fair market
value of such stock, as determined by the Board of Directors, at the time of
grant of such option, or less than 110% of such fair market value in the case of
options described in Section 11(b).

        (b) PAYMENT OF PURCHASE PRICE. Options granted under the Plan may
provide for the payment of the exercise price by delivery of cash or a check to
the order of the Company in an amount equal to the exercise price of such
options, or, to the extent provided in the applicable option agreement, (i) by
delivery to the Company of shares of Common Stock of the Company already owned
by the optionee having a fair market value equal in amount to the exercise price
of the options being exercised, (ii) by any other means which the Board of
Directors determines are consistent with the purpose of the Plan and with the
applicable laws and regulations (including, without limitation, the provisions
of Rule 16b-3 and Regulation T promulgated by the Federal Reserve Board) or
(iii) by any combination of such methods of payment. The fair market value of

                                      -2-
<PAGE>   3
any shares of the Company's Common Stock or other non-cash consideration which
may be delivered upon exercise of an option shall be determined by the Board of
Directors.

7.      OPTION PERIOD.

        Each option and all rights thereunder shall expire on such date as the
Board of Directors shall determine, except that (i) in the case of an Incentive
Stock Option, such date shall not be later than ten years after the date on
which the option is granted, (ii) in the case of an Incentive Stock Option
described in Section 11(b), such date shall not be later than five years after
the date on which the option is granted and (iii) in all cases, options shall be
subject to earlier termination as provided in the Plan.

8.      EXERCISE OF OPTIONS.

        Each option granted under the Plan shall be exercisable either in full
or in installments at such time or times and during such period as shall be set
forth in the agreement evidencing such option, subject to the provisions of the
Plan.

9.      NONTRANSFERABILITY OF OPTIONS.

        Incentive Stock Options shall not be assignable or transferable by the
person to whom they are granted, either voluntarily or by operation of law,
except by will or the laws of decent and distribution, and, during the life of
the optionee, shall be exercisable only by the optionee. With the approval of
the Board of Directors, non-qualified stock options may be transferred by gift
to (i) one or more members of the optionee's family or entities controlled by,
or for the benefit of the optionee or such family members, or (ii) one or more
charitable organizations (including charitable trusts). Except as the Board of
Directors may otherwise determine, no option or interest therein may be
transferred, assigned, pledged or hypothecated by the optionee during his
lifetime, whether by operation of law or otherwise, or be made subject to
execution, attachment or similar process.

10.     EFFECT OF TERMINATION OF EMPLOYMENT OR OTHER RELATIONSHIP.

        Except as provided in Section 11(d) with respect to Incentive Stock
Options, the Board of Directors shall determine the period of time during which
an optionee may exercise an option following (i) the termination of the
optionee's employment or other relationship with the Company or (ii) the death
or disability of the optionee. Such periods shall be set forth in the agreement
evidencing such option.

11.     INCENTIVE STOCK OPTIONS.

        Options granted under the Plan which are intended to be Incentive Stock
Options shall be subject to the following additional terms and conditions:

        (a) EXPRESS DESIGNATION. All Incentive Stock Options granted under the
Plan shall, at the time of grant, be specifically designated as such in the
option agreement covering such Incentive Stock Options.

        (b) 10% STOCKHOLDER. If any employee to whom an Incentive Stock Option
is to be granted under the Plan is, at the time of the grant of such option, the
owner of stock possessing more than 10% of the total combined voting power of
all classes of stock of the Company (after taking into account the attribution
of stock ownership rules of Section 424(d) of the Code), then the following
special provisions shall be applicable to the Incentive Stock Option granted to
such individual:

              (i) the purchase price per share of the Common Stock subject to
        such Incentive Stock Option shall not be less than 110% of the fair
        market value of one share of Common Stock at the time of grant; and

              (ii) the option exercise period shall not exceed five years from
        the date of grant.

        (c) DOLLAR LIMITATION. For so long as the Code shall so provide, options
granted to any employee under the Plan (and any other incentive stock option
plans of the Company) which are intended to constitute Incentive Stock Options
shall not constitute Incentive Stock Options to the extent that such options, in
the aggregate, become exercisable for the first time in any one calendar year
for shares of Common Stock with an aggregate fair market value (determined as of
the respective date or dates of grant) of more than $100,000.

                                      -3-
<PAGE>   4

        (d) TERMINATION OF EMPLOYMENT, DEATH OR DISABILITY. No Incentive Stock
Option may be exercised unless, at the time of such exercise, the optionee is,
and has been continuously since the date of grant of his or her option, employed
by the Company, except that:

              (i) an Incentive Stock Option may be exercised within the period
        of three months after the date the optionee ceases to be an employee of
        the Company (or within such lesser period as may be specified in the
        applicable option agreement), provided, that the agreement with respect
        to such option may designate a longer exercise period and that the
        exercise after such three-month period shall be treated as the exercise
        of a non-qualified option under the Plan;

              (ii) if the optionee dies while in the employ of the Company, or
        within three months after the optionee ceases to be such an employee,
        the Incentive Stock Option may be exercised by the person to whom it is
        transferred by will or the laws of descent and distribution within the
        period of one year after the date of death (or within such lesser period
        as may be specified in the applicable option agreement); and

              (iii) if the optionee becomes disabled (within the meaning of
        Section 22(e)(3) of the Code or any successor provision thereto) while
        in the employ of the Company, the Incentive Stock Option may be
        exercised within the period of one year after the date the optionee
        ceases to be such an employee because of such disability (or within such
        lesser period as may be specified in the applicable option agreement).

        For all purposes of the Plan and any option granted hereunder,
"employment" shall be defined in accordance with the provisions of Section
1.421-7(h) of the Income Tax Regulations (or any successor regulations).
Notwithstanding the foregoing provisions, no Incentive Stock Option may be
exercised after its expiration date.

12.     ADDITIONAL PROVISIONS.

        (a) ADDITIONAL OPTION PROVISIONS. The Board of Directors may, in its
sole discretion, include additional provision in any option agreement covering
options granted under the Plan, including without limitation restrictions on
transfer, repurchase rights, commitments to pay cash bonuses, to make, arrange
for or guaranty loans or to transfer other property to optionees upon exercise
of options, or such other provisions as shall be determined by the Board of
Directors; PROVIDED THAT such additional provisions shall not be inconsistent
with any other term or condition of the Plan and such additional provisions
shall not cause any Incentive Stock Option granted under the Plan to fail to
qualify as an Incentive Stock Option within the meaning of Section 422 of the
Code.

        (b) ACCELERATION, EXTENSION, ETC. The Board of Directors may, in its
sole discretion, (i) accelerate the date or dates on which all or any particular
option or options granted under the Plan may be exercised or (ii) extend the
dates during which all, or any particular option or options granted under the
Plan may be exercised; provided, however, that no such extension shall be
permitted if it would cause the Plan to fail to comply with Section 422 of the
Code or with Rule 16b-3.

13.     GENERAL RESTRICTIONS.

        (a) INVESTMENT REPRESENTATIONS. The Company may require any person to
whom an option is granted, as a condition of exercising such option, to give
written assurances in substance and form satisfactory to the Company to the
effect that such person is acquiring the Common Stock subject to the option for
his or her own account for investment and not with any present intention of
selling or otherwise distributing the same, and to such other effects as the
Company deems necessary or appropriate in order to comply with federal and
applicable state securities laws, or with covenants or representations made by
the Company in connection with any public offering of its Common Stock.

        (b) COMPLIANCE WITH SECURITIES LAWS. Each option shall be subject to the
requirement that if, at any time, counsel to the Company shall determine that
the listing, registration or qualification of the shares subject to such option
upon any securities exchange or under any state or federal law, or the consent
or approval of any governmental or regulatory body, or that the disclosure of
non-public information or the satisfaction of any other condition is necessary
as a condition of, or in connection with, the issuance or purchase of shares
thereunder, such option may not be exercised, in whole or in part, unless such
listing, registration, qualification, consent or approval, or satisfaction of
such condition shall have been effected or obtained on conditions acceptable to
the Board of Directors. Nothing herein shall be deemed to require the Company to
apply for or to obtain such listing, registration or qualification, or to
satisfy such condition.

                                      -4-
<PAGE>   5

14.     RIGHTS AS A SHAREHOLDER.

        The holder of an option shall have no rights as a shareholder with
respect to any shares covered by the option (including, without limitation, any
rights to receive dividends or non-cash distributions with respect to such
shares) until the date of issue of a stock certificate to him or her for such
shares. No adjustment shall be made for dividends or other rights for which the
record date is prior to the date such stock certificate is issued.

15.     ADJUSTMENT PROVISIONS FOR RECAPITALIZATIONS AND RELATED TRANSACTIONS.

        (a) GENERAL. If, through or as a result of any merger, consolidation,
sale of all or substantially all of the assets of the Company, reorganization,
recapitalization, reclassification, stock dividend, stock split, reverse stock
split, or other similar transaction, (i) the outstanding shares of Common Stock
are increased or decreased or are exchanged for a different number or kind of
shares or other securities of the Company, or (ii) additional shares or new or
different shares or other securities of the Company or other non-cash assets are
distributed with respect to such shares of Common Stock or other securities, an
appropriate and proportionate adjustment may be made in (x) the maximum number
and kind of shares reserved for issuance under the Plan, (y) the number and kind
of shares or other securities subject to then outstanding options under the
Plan, and (z) the price for each share subject to any then outstanding options
under the Plan, without changing the aggregate purchase price as to which such
options remain exercisable, provided that no adjustment shall be made pursuant
to this Section 15 if such adjustment would cause the Plan to fail to comply
with Section 422 of the Code or with Rule 16b-3.

        (b) BOARD AUTHORITY TO MAKE ADJUSTMENTS. Any adjustments under this
Section 15 will be made by the Board of Directors, whose determination as to
what adjustments, if any, will be made and the extent thereof will be final,
binding and conclusive. No fractional shares will be issued under the Plan on
account of any such adjustments.

16.     MERGER, CONSOLIDATION, ASSET SALE, LIQUIDATION, ETC.

        (a) GENERAL. In the event of a consolidation or merger or sale of all or
substantially all of the assets of the Company in which outstanding shares of
Common Stock are exchanged for securities, cash or other property of any other
corporation or business entity or in the event of a liquidation of the Company,
the Board of Directors of the Company, or the board of directors of any
corporation assuming the obligations of the Company, may, in its discretion,
take any one or more of the following actions, as to outstanding options: (i)
provide that such options shall be assumed, or equivalent options shall be
substituted, by the acquiring or succeeding corporation (or an affiliate
thereof), PROVIDED that any such options substituted for Incentive Stock Options
shall meet the requirements of Section 425(a) of the Code, (ii) upon written
notice to the optionees, provide that all unexercised options will terminate
immediately prior to the consummation of such transaction unless exercised by
the optionee within a specified period following the date of such notice, (iii)
in the event of a merger under the terms of which holders of the Common Stock of
the Company will receive upon consummation thereof a cash payment for each share
surrendered in the merger (the "Merger Price"), make or provide for a cash
payment to the optionees equal to the difference between (A) the Merger Price
times the number of shares of Common Stock subject to such outstanding options
(to the extent then exercisable at prices not in excess of the Merger Price) and
(B) the aggregate exercise price of all such outstanding options in exchange for
the termination of such options, and (iv) provide that all or any outstanding
options shall become exercisable in full immediately prior to such event.

        (b) SUBSTITUTE OPTIONS. The Company may grant options under the Plan in
substitution for options held by employees of another corporation who become
employees of the Company, or a subsidiary of the Company, as the result of a
merger or consolidation of the employing corporation with the Company or a
subsidiary of the Company, or as a result of the acquisition by the Company, or
one of its subsidiaries, of property or stock of the employing corporation. The
Company may direct that substitute options be granted on such terms and
conditions as the Board of Directors considers appropriate in the circumstances.

17.     NO SPECIAL EMPLOYMENT RIGHTS.

        Nothing contained in the Plan or in any option shall confer upon any
optionee any right with respect to the continuation of his or her employment by
the Company or interface in any way with the right of the Company at any time to
terminate such employment or to increase or decrease the compensation of the
optionee.

                                      -5-
<PAGE>   6

18.     OTHER EMPLOYEE BENEFITS.

        Except as to plans which by their terms include such amounts as
compensation, the amount of any compensation deemed to be received by an
employee as a result of the exercise of an option or the sale of shares received
upon such exercise will not constitute compensation with respect to which any
other employee benefits of such employee are determined, including, without
limitation, benefits under any bonus, pension, profit-sharing, life insurance or
salary continuation plan, except as otherwise specifically determined by the
Board of Directors.

19.     AMENDMENT OF THE PLAN.

        (a) The Board of Directors may at any time, and from time to time,
modify or amend the Plan in any respect, except that if at any time the approval
of the shareholders of the Company is required under Section 422 of the Code or
any successor provision with respect to Incentive Stock Options or under Rule
16b-3 or with respect to options held by persons who are required to file
reports pursuant to Section 16(a) of the Exchange Act, the Board of Directors
may not effect such modification or amendment without such approval. In
addition, the Board of Directors may not amend Section 24 of the Plan without
the prior approval of the shareholders of the Company.

        (b) The termination or any modification or amendment of the Plan shall
not, without the consent of an optionee, affect his or her rights under an
option previously granted to him or her. With the consent of the optionee
affected, the Board of Directors may amend outstanding option agreements in a
manner not inconsistent with the Plan. The Board of Directors shall have the
right to amend or modify (i) the terms and provisions of the Plan and of any
outstanding Incentive Stock Options granted under the Plan to the extent
necessary to qualify any or all such options for such favorable federal income
tax treatment (including deferral of taxation upon exercise) as may be afforded
incentive stock options under Section 422 of the Code and (ii) the terms and
provisions of the Plan and of any outstanding option to the extent necessary to
ensure the qualification of the Plan under Rule 16b-3.

20.     WITHHOLDING.

        (a) The Company shall have the right to deduct from payments of any kind
otherwise due to the optionee any federal, state or local taxes of any kind
required by law to be withheld with respect to any shares issued upon exercise
of options under the Plan. Subject to the prior approval of the Company, which
may be withheld by the Company in its sole discretion, the optionee may elect to
satisfy such obligations, in whole or in part, (i) by causing the Company to
withhold shares of Common Stock otherwise issuable pursuant to the exercise of
an option or (ii) by delivering to the Company shares of Common Stock already
owned by the optionee. The shares so delivered or withheld shall have a fair
market value equal to such withholding obligation. The fair market value of the
shares used to satisfy such withholding obligation shall be determined by the
Company as of the date that the amount of tax to be withheld is to be
determined. An optionee who has made an election pursuant to this Section 20(a)
may only satisfy his or her withholding obligation with shares of Common Stock
which are not subject to any repurchase, forfeiture, unfulfilled vesting or
other similar requirements.

        (b) Notwithstanding the foregoing, in the case of a director or officer,
no election to use shares for the payment of withholding taxes shall be
effective unless made in compliance with any applicable requirements of Rule
16b-3.

21.     CANCELLATION AND NEW GRANT OF OPTIONS, ETC.

        The Board of Directors shall have the authority to effect, at any time
and from time to time, with the consent of the affected optionees, (i) the
cancellation of any or all outstanding options under the Plan and the grant in
substitution therefor of new options under the Plan covering the same or
different numbers of shares of Common Stock and having an option exercise price
per share which may be lower or higher than the exercise price per share of the
cancelled options or (ii) the amendment of the terms of any and all outstanding
options under the Plan to provide an option exercise price per share which is
higher or lower that the then-current exercise price per share of such
outstanding options.

22.     EFFECTIVE DATE AND DURATION OF THE PLAN.

        (a) EFFECTIVE DATE. The Plan shall become effective when adopted by the
Board of Directors, but no Incentive Stock Option granted under the Plan shall
become exercisable unless and until the Plan shall have been approved by the
Company's shareholders. If such shareholder approval is not obtained within

                                      -6-
<PAGE>   7
twelve months after the date of the Board's adoption of the Plan, no options
previously granted under the Plan shall be deemed to be Incentive Stock Options
and no further Incentive Stock Options shall be granted. Amendments to the Plan
not requiring shareholder approval shall become effective when adopted by the
Board of Directors; amendments requiring shareholder approval (as provided in
Section 19) shall become effective when adopted by the Board of Directors, but
no Incentive Stock Option granted after the date of such amendment shall become
exercisable (to the extent that such amendment to the Plan was required to
enable the Company to grant such Incentive Stock Option to a particular
optionee) unless and until such amendment shall have been approved by the
Company's shareholders. If such shareholder approval is not obtained within
twelve months of the Board's adoption of such amendment, any Incentive Stock
Options granted on or after the date of such amendment shall terminate to the
extent that such amendment to the Plan was required to enable the Company to
grant such option to a particular optionee. Subject to this limitation, options
may be granted under the Plan at any time after the effective date and before
the date fixed for termination of the Plan.

        (b) TERMINATION. Unless sooner terminated in accordance with Section 16,
the Plan shall terminate, with respect to Incentive Stock Options, upon the
earlier of (i) the close of business on the day next preceding the tenth
anniversary of the date of its adoption by the Board of Directors, or (ii) the
date on which all shares available for issuance under the Plan shall have been
issued pursuant to the exercise or cancellation of options granted under the
Plan. Unless sooner terminated in accordance with Section 16, the Plan shall
terminate with respect to options which are not Incentive Stock Options on the
date specified in (ii) above. If the date of termination is determined under (i)
above, then options outstanding on such date shall continue to have force and
effect in accordance with the provisions of the instruments evidencing such
options.

23.     PROVISIONS FOR FOREIGN PARTICIPANTS.

        The Board of Directors may, without amending the Plan, modify awards or
options granted to participants who are foreign nationals or employed outside
the United States to recognize differences in laws, rules, regulations or
customs of such foreign jurisdictions with respect to tax, securities, currency,
employee benefit or other matters.

24.      PROHIBITION ON REPRICING OF OPTIONS.

        Neither the Board of Directors nor the Company may amend the terms of
any issued and outstanding option to reduce the exercise price, other than
pursuant to Section 15 of the Plan, without prior approval of shareholders of
the Company.

Adopted by the Board of Directors on April 24, 1991; adopted by Stockholders on
June 10, 1991.

Amended by the Board of Directors on February 12, 1992; amendment approved by
Stockholders on May 1, 1992.

Amended by the Board of Directors on February 26, 1993; amendment approved by
Stockholders on May 18, 1993.

Number of shares covered by the Plan reflects 2 for 1 stock split in the form of
a stock dividend paid on October 1, 1993.

Amended by the Board of Directors on February 9, 1995; amendment approved by
Stockholders on May 26, 1995.

Number of shares covered by the Plan reflects 2 for 1 stock split in the form of
a stock dividend paid on June 5, 1995.

Amended by the Board of Directors on March 5, 1996; amendment approved by the
Stockholders on May 24, 1996.

Amended by the Board of Directors on February 17, 1999.

Amended by the Board of Directors on July 21, 1999.

                                      -7-

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