Document:

EX-10.1

AMENDMENT NO. 6

TO

LOAN AND SECURITY AGREEMENT

THIS AMENDMENT NO. 6 TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 28
day of September, 2006, by and between Silicon Valley Bank (“Bank”) and Sipex Corporation, a
Delaware corporation (“Borrower”) whose address is 233 South Hillview Drive, Milpitas, California
95035.

Recitals

A. Bank and Borrower have entered into that certain Loan and Security Agreement dated as of
July 21, 2005 (as the same may from time to time be amended, modified, supplemented or restated,
the “Loan Agreement”).

B. Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement.

C. Borrower has requested that Bank amend the Loan Agreement to make certain revisions to the
Loan Agreement as more fully set forth herein.

D. Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the
extent, in accordance with the terms, subject to the conditions and in reliance upon the
representations and warranties set forth below.

Agreement

Now, Therefore, in consideration of the foregoing recitals and other good and
valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to
be legally bound, the parties hereto agree as follows:

1. Definitions. Capitalized terms used but not defined in this Amendment shall have the
meanings given to them in the Loan Agreement.

2. Amendments to Loan Agreement.

2.1 Section 2.1.1 (Revolving Advances). The first sentence of Section 2.1.1 is amended to
read in its entirety as follows: “Bank will make Advances not exceeding the lesser of (i) the
Borrowing Base plus $2,000,000, and (ii) the Committed Revolving Line, minus the Sublimit
Utilization Amount.”

2.2 Section 2.1.5 (Term Loan). A new Section 2.1.5 of the Loan Agreement is added as follows:

2.1.5 Term Loan.

a. Subject to the terms and conditions of this Agreement, Bank agrees to lend to Borrower from
September 28, 2006 to the Term Loan Commitment Termination Date, a term loan (“Term Loan”) in an
aggregate amount not to exceed the Term Loan Commitment. Each Term Loan made thereafter shall be
in an amount not less than $500,000. The number of Term Loans shall not exceed 2.

b. Interest accrues from the date of each Term Loan at the rate set forth in Section 2.3.
Interest on each Term Loan shall be payable beginning on the first day of the month following the
funding date of such Term Loan. Each Term Loan shall be payable in thirty-six (36) equal monthly
installments of principal plus accrued interest. When repaid or prepaid, the Term Loan may not be
reborrowed.

c. Bank’s obligation to lend hereunder shall terminate on the earlier of (i) the occurrence
and continuance of an Event of Default or if there exists any event, condition, or act which with
notice or lapse of time, or both, would constitute an Event of Default or (ii) the Term Loan
Commitment Termination Date.

2.3 Section 2.3 (Interest Rate, Payments.). Section 2.3(a) is amended in its entirety to read
as follows:

(a) Interest Rate. Advances accrue interest on the outstanding principal balance at a per
annum rate at the “Interest Rate” as set forth in the LIBOR Supplement, attached hereto as
Exhibit E. The Term Loan shall bear interest on the outstanding principal amount thereof
from the date when made until paid in full at a rate per annum equal to 9.25%. The After an Event
of Default, Obligations accrue interest at 5 percent above the rate effective immediately before
the Event of Default. The interest rate increases or decreases when the Prime Rate changes.
Interest is computed on a 360 day year for the actual number of days elapsed.

2.4 Section 2.4 (Fees). Section 2.4(a) is deleted in its entirety.

2.5 Section 6.2 (Financial Statements, Reports, Certificates). Section 6.2 is
amended in its entirety to read as follows:

Section 6.2 (Financial Statements, Reports, Certificates).

(a) Borrower will deliver to Bank: (i) as soon as available, but no later than the earlier of
within 5 days of filing with the SEC or 50 days after the end of each fiscal quarter, Borrower’s
Report on Form 10-Q containing consolidated financial statements prepared under GAAP, consistently
applied, subject to year-end audit adjustments and the absence of footnotes and a deferred revenue
report; (ii) as soon as available, but no later than the earlier of within 5 days of filing with
the SEC or 90 days after the end of each fiscal year, Borrower’s Report on Form 10-K containing
audited consolidated financial statements prepared under GAAP, consistently applied, together with
an unqualified opinion on the financial statements from an independent certified public accounting
firm reasonably acceptable to Bank; (iii) a prompt report of any legal actions pending or
threatened against Borrower or any Subsidiary that could reasonably result in damages or costs to
Borrower or any Subsidiary of $500,000 or more; (iv) within 45 days of the end of each fiscal year
budgets, sales projections, operating plans, 8-K filings or other financial information Bank
reasonably requests, including, a business forecast for the next fiscal year, including quarterly
projected balance sheets, income statements and cash flow statements; and (v) any other information
regarding the operations, business affairs or financial condition of the Borrower or any
Subsidiary, or compliance with the terms of this Agreement, Bank reasonably requests.

(b) Intentionally Blank.

(c) will deliver to Bank with the financial statements required in subsection (a) above, a
Compliance Certificate signed by a Responsible Officer in the form of Exhibit C.

(d) Within 30 days after the end of each fiscal quarter (monthly if the Credit Extensions
(other than the Term Loans) exceed an aggregate amount of $2,000,000), Borrower shall provide to
Bank (i) a detailed aging of its accounts receivable and accounts payable, and (ii) a Borrowing
Base Certificate signed by a Responsible Officer.

(e) Borrower will allow Bank to audit Borrower’s Collateral at Borrower’s reasonable expense.
Such audits will be conducted no more often than every 3 months unless an Event of Default or an
event which, with notice or passage of time or both would constitute an Event of Default, has
occurred and is continuing.

2.6 Section 6.7 (Financial Covenants). Section 6.7 is amended in its entirety to read as
follows:

(a) Minimum Liquidity Ratio. Borrower will maintain as of the last day of each fiscal
quarter, a Liquidity Ratio of not less than 2.50:1.00. The Liquidity Ratio is calculated as the
sum of (i) Borrower’s unrestricted cash and cash equivalents, short-term marketable securities and
50% of consolidated Accounts divided by (ii) the Obligations.

(b) Tangible Net Worth. Borrower will maintain, as of the last day of each fiscal quarter set
forth below, a Tangible Net Worth of at least the amount set forth opposite such date. For
purposes of this calculation, up to $5,000,000 in an aggregate amount of non-cash charges relating
to inventory write-downs and/or restructuring charges may be added to Tangible Net Worth.

	 	 	 
	Fiscal Quarter Ending Date	 	Minimum Tangible Net Worth
	September 30, 2006

	 	 $600,000
	 
	 	 
	December 31, 2006

	 	 (-$5,500,000)
	 
	 	 
	March 31, 2007

	 	 (-$10,000,000)
	 
	 	 
	June 30, 2007

	 	 (-$13,000,000)
	 
	 	 
	and each fiscal quarter thereafter

	 	(-$13,000,000) plus 50% of any

positive net income (with no

adjustment for losses) and 50% of

any new equity raised

2.7 Section 13 (Definitions). The following terms and their respective definitions set forth
in Section 13.1 are amended in their entirety and replaced with the following:

“Business Day” means a day of the year (a) that is not a Saturday, Sunday or other day on
which banks in the State of California or the City of London are authorized or required to close
and (b) on which dealings are carried on in the interbank market in which Bank customarily
participates.

“Credit Extension” is each Advance, Term Loan, Letter of Credit, Exchange Contract, Cash
Management Service or any other extension of credit by Bank for Borrower’s benefit.

“Revolving Maturity Date” is September 29, 2007.

2.8 Section 13 (Definitions). The following definitions are added to Section 13 in their
appropriate alphabetical positions:

“Term Loan” is a term loan made under the Term Loan Commitment.

“Term Loan Commitment” is an aggregate principal amount equal to $2,000,000.

“Term Loan Commitment Termination Date” is December 31, 2006.

2.9 Exhibits to the Loan Agreement. Exhibit C (Compliance Certificate) is deleted and
replaced with the form attached hereto as Exhibit A. Exhibit D (Borrowing Base Certificate) is
deleted and replaced with the form attached hereto as Exhibit B. A new Exhibit E (LIBOR
Supplement) is added in the form of attached hereto as Exhibit C.

3. Limitation of Amendments.

3.1 The amendments set forth in Sections 2 above, are effective for the purposes set forth
herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any
amendment or modification of any other term or condition of any Loan Document, or (b) otherwise
prejudice any right or remedy which Bank may now have or may have in the future under or in
connection with any Loan Document.

3.2 This Amendment shall be construed in connection with and as part of the Loan Documents and
all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan
Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full
force and effect.

4. Representations and Warranties. To induce Bank to enter into this Amendment, Borrower
hereby represents and warrants to Bank as follows:

4.1 Immediately after giving effect to this Amendment (a) the representations and warranties
contained in the Loan Documents are true, accurate and complete in all material respects as of the
date hereof (except to the extent such representations and warranties relate to an earlier date, in
which case they are true and correct as of such date), and (b) no Event of Default has occurred and
is continuing;

4.2 Borrower has the power and authority to execute and deliver this Amendment and to perform
its obligations under the Loan Agreement, as amended by this Amendment;

4.3 The organizational documents of Borrower delivered to Bank on the Effective Date remain
true, accurate and complete and have not been amended, supplemented or restated and are and
continue to be in full force and effect;

4.4 The execution and delivery by Borrower of this Amendment and the performance by Borrower
of its obligations under the Loan Agreement, as amended by this Amendment, have been duly
authorized;

4.5 The execution and delivery by Borrower of this Amendment and the performance by Borrower
of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not
contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual
restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or
other governmental or public body or authority, or subdivision thereof, binding on Borrower, or
(d) the organizational documents of Borrower;

4.6 The execution and delivery by Borrower of this Amendment and the performance by Borrower
of its obligations under the Loan Agreement, as amended by this Amendment, do not require any
order, consent, approval, license, authorization or validation of, or filing, recording or
registration with, or exemption by any governmental or public body or authority, or subdivision
thereof, binding on either Borrower, except as already has been obtained or made; and

4.7 This Amendment has been duly executed and delivered by Borrower and is the binding
obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such
enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or
other similar laws of general application and equitable principles relating to or affecting
creditors’ rights.

5. Counterparts. This Amendment may be executed in any number of counterparts and all of such
counterparts taken together shall be deemed to constitute one and the same instrument.

6. Effectiveness. This Amendment shall be deemed effective upon (a) the due execution and
delivery to Bank of this Amendment and the LIBOR Supplement, by each party hereto, (b) Bank’s
receipt of lien searches from the States of Delaware, California and Massachusetts, each in form
and substance satisfactory to Bank, (c) Bank’s receipt of certificates of good standings from the
States of Delaware and California, and (d) Borrower’s payment to Bank of a commitment fee in an
amount equal to $12,000.

[Signature page follows.]

1

In Witness Whereof, the parties hereto have caused this Amendment to be duly
executed and delivered as of the date first written above.

	 	 	 
	BANK	 	BORROWER
	Silicon Valley Bank

By: /s/ Ray Aguilar

Name:  Ray Aguilar

Title:  Relationship Manager

	 	Sipex Corporation

By: /s/ Clyde R. Wallin

Name: Clyde R. Wallin

Title:  CFO

2

EXHIBIT A

EXHIBIT C

COMPLIANCE CERTIFICATE

	 	 	 
	TO:

FROM:

	 	SILICON VALLEY BANK

3003 Tasman Drive

Santa Clara, CA 95054

Sipex Corporation

The undersigned authorized officer (“Officer”) of Sipex Corporation (“Borrower”) certifies that
under the terms and conditions of the Loan and Security Agreement between Borrower and Bank (the
“Agreement”), (i) Borrower is in complete compliance for the period ending      with all
required covenants except as noted below, and (ii) all representations and warranties in the
Agreement are true and correct in all material respects on this date. In addition, the Officer
certifies that Borrower and each Subsidiary (i) has timely filed all required tax returns and paid,
or made adequate provision to pay, all material taxes, except those being contested in good faith
with adequate reserves under GAAP and (ii) does not have any legal actions pending or threatened
against Borrower or any Subsidiary of which Borrower has not notified Bank in accordance with
Section 6.2 of the Agreement. Attached are the required documents supporting the certifications
contained herein. The Officer certifies that these are prepared in accordance with GAAP
consistently applied from one period to the next except as explained in an accompanying letter or
footnotes. The Officer acknowledges that no borrowings may be requested at any time or date of
determination that Borrower is not in compliance with any of the terms of the Agreement, and that
compliance is determined not just at the date this certificate is delivered.

Please indicate compliance status by circling Yes/No under “Complies” column.

	 	 	 	 	 	 	 
	Reporting Covenant	 	Required	 	Complies
	Compliance Certificate

	 	With 10Q and 10K financial

statements and with Cash

Holding Report and Deferred

Revenue Report
	 	Yes

	 	No

	 
	 	 	 	 	 	 
	10Q, 10K (Audited)

with financial

statements

	 	Within earlier of 5 days of

issuance or 50 days of

quarter end for 10Q and 90

days for 10K
	 	

Yes
	 	

No
	 
	 	 	 	 	 	 
	A/R and A/P Aging

Report and Borrowing

Base Certificate

	 	Quarterly unless Credit

Extensions (other than Term

Loans) exceed $2,000,000,

then monthly, each within 30

days
	 	

Yes
	 	

No
	 
	 	 	 	 	 	 
	Annual Forecast along

with business

forecast, quarterly

projected balance

sheets, income

statements and cash

flow statements

	 	

Annually within 45 days of FYE
	 	

Yes
	 	

No
	 
	 	 	 	 	 	 
	Any other information

regarding the

operations, business

affairs or financial

condition of the

Borrower or any

Subsidiary as Bank

may request

	 	

Promptly after Bank requests
	 	

Yes
	 	

No

	 	 	 	 	 	 	 	 	 
	Financial Covenant	 	Required	 	Actual	 	Complies
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Maintain (at quarter end):

	 	

	 	

	 	

	 	

	 
	 	 	 	 	 	 	 	 
	Minimum Liquidity Ratio

	 	2.5:1.00
	 	     :1.00
	 	Yes
	 	No
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Maintain (at quarter end):

	 	

	 	

	 	

	 	

	 
	 	 	 	 	 	 	 	 
	Minimum Tangible Net Worth

	 	$600,000 (at 9/30/06)

(-$5,500,000) (at

12/31/06)

(-$10,000,000) (at

3/31/07)

(-$13,000,000) (at

6/30/07)

(-$13,000,000) plus

50% of any positive

net income (with no

adjustment for

losses) and 50% of

any new equity

raised, each quarter

thereafter
	 	$     

	 	Yes

	 	No

	 
	 	 	 	 	 	 	 	 
	Borrower has deposit

accounts located at the

following institutions

only: Silicon Valley Bank

     

	 	

	 	

	 	

	 	

	 	 	 
	Comments	 	BANK USE ONLY
	Regarding

	 	Received by:
	Exceptions: See

Attached.

	 	AUTHORIZED SIGNER

Date:
	Sincerely,

	 	Verified:
	Sipex Corporation

Signature

	 	AUTHORIZED SIGNER

Date:
	Title

	 	Compliance Status: Yes No
	
 
	 	 
	 
	 	 
	Date

	 	

	 
	 	 

3

EXHIBIT B

EXHIBIT D

BORROWING BASE CERTIFICATE

	 	 	 	 	 
	Borrower: Sipex Corporation
Bank:Silicon Valley Bank
Commitment Amount:
	 	$	5,000,000	 

	 	 	 	 	 
	ACCOUNTS RECEIVABLE
	 	 	 	 
	Accounts Receivable Book Value
as of ____________________
	 	$	—	
	Additions (please explain on reverse)
	 	$	—	
	TOTAL ACCOUNTS RECEIVABLE
	 	$	—	
	ACCOUNTS RECEIVABLE DEDUCTIONS (without duplication)
	 	 	 	 
	Amounts over 90 days due
	 	$	—	
	Balance of 50% over 90 day accounts
	 	$	—	
	Credit balances over 90 days
	 	$	—	
	Concentration Limits
	 	$	—	
	Foreign Accounts
	 	$	—	
	Governmental Accounts
	 	$	—	
	Contra Accounts
	 	$	_______________	
	Promotion or Demo Accounts
	 	$	_______________	
	Intercompany/Employee Accounts
	 	$	_______________	
	Disputed Accounts
	 	$	_______________	
	Deferred Revenue
	 	$	_______________	
	Other (please explain on reverse)
	 	$	—	 
	TOTAL ACCOUNTS RECEIVABLE
DEDUCTIONS
	 	$	_______________	
	Eligible Accounts (#3 minus #16)
	 	$	_______________	
	ELIGIBLE AMOUNT OF ACCOUNTS (
____% of #17)
	 	$	_______________	
	N/A
	 	 	 	 
	N/A
	 	 	 	 
	BALANCES
	 	 	 	 
	Maximum Loan Amount
	 	$	_______________	
	Total Funds Available [Lesser
of #21 or (#18 plus $2,000,000)]
	 	$	_______________	
	Present balance owing on Line
of Credit
	 	$	_______________	
	Outstanding under Sublimits
	 	$	_______________	
	RESERVE POSITION (#22 minus #23
and #24)
	 	$	_______________	

The undersigned represents and warrants that this is true, complete and correct, and that the
information in this Borrowing Base Certificate complies with the representations and warranties in
the Loan and Security Agreement between the undersigned and Silicon Valley Bank.

	 	 	 	 	 
	 	 	BANK USE ONLY
	 
	 	Received by: _____________________

	 
	 	authorized signer
	 
	 	Date:   __________________________

	COMMENTS:
	 	Verified: ________________________

	By: ___________________________
	 	authorized signer
	Authorized Signer
	 	Date: ___________________________

	Date:
	 	Compliance Status: Yes No

4

EXHIBIT C

EXHIBIT E

Libor Supplement to Loan and Security Agreement

This LIBOR Supplement to Loan and Security Agreement (the “Supplement”) is a supplement to the
Loan and Security Agreement dated as of July 21, 2005 (as amended from time to time, the “Loan
Agreement”) between Silicon Valley Bank (“Bank”) and Sipex Corporation, a Delaware corporation
(“Borrower”), and forms a part of and is incorporated by reference into the Loan Agreement.
Capitalized terms not defined herein shall have the meanings given to them in the Loan Agreement.

	 	1.	 	Definitions.

“Interest Period” means for each LIBOR Rate Advance, a period of one, two or three months, as the
Borrower may select, provided that the last day of an Interest Period for a LIBOR Rate Advance
shall be determined in accordance with the practices of the LIBOR interbank market as from time to
time in effect; provided, further, (a) in all cases such period shall expire not later than the
Revolving Maturity Date, (b) if any Interest Period would otherwise end on a day that is not a
Business Day, that Interest Period shall be extended to the following Business Day unless the
result of such extension would be to carry such Interest Period into another calendar month, in
which event such Interest Period shall end on the preceding Business Day, (c) any Interest Period
that begins on the last Business Day of a calendar month (or on a day for which there is no
numerically corresponding day in the calendar month at the end of such Interest Period) shall end
on the last Business Day of the calendar month at the end of such Interest Period, and (d) interest
shall accrue from and include the first Business Day of an Interest Period but exclude the last
Business Day of such Interest Period.

“Interest Rate” shall mean as to: (a) Prime Rate Loans, a rate of Prime Rate; and (b) LIBOR Rate
Advances, a rate of 2.75% per annum in excess of the LIBOR Rate (based on the LIBOR Rate applicable
for the Interest Period selected by the Borrower).

“LIBOR Base Rate” means, for any Interest Period for a LIBOR Rate Advance, the rate of interest per
annum determined by Bank (which determination shall, absent manifest error, be final, conclusive
and binding on all parties) to be the per annum rate of interest at which deposits in United States
Dollars are offered to Bank in the London interbank market in which Bank may customarily
participate at 11:00 A.M. (local time in such interbank market) two Business Days before the first
day of such Interest Period for a period approximately equal to such Interest Period and in an
amount approximately equal to the amount of such Advance.

“LIBOR Rate” is, for any Interest Period for a LIBOR Rate Advance, a rate per annum (rounded
upwards, if necessary, to the nearest 1/16 of 1%) equal to (i) the LIBOR Base Rate for such
Interest Period divided by (ii) 1.0 minus the Reserve Requirement for such Interest Period.

“LIBOR Rate Advance” means any Advance on which the Interest Rate is based on the LIBOR Rate.

“Prime Rate” means the variable rate of interest per annum, most recently announced by Bank as its
“prime rate,” whether or not such announced rate is the lowest rate available from Bank. The
interest rate applicable to the Prime Rate Advances shall change on each date there is a change in
the Prime Rate.

“Prime Rate Advance” means any Advance on which the Interest Rate is based on the Prime Rate in
accordance with the terms hereof.

“Regulatory Change” means, with respect to Bank, any change on or after the date of this Supplement
in U.S. federal, state or foreign laws or regulations, including Regulation D, or the adoption or
making on or after such date of any interpretations, directives or requests applying to a class of
lenders including Bank of or under any U.S. federal, state or foreign laws or regulations (whether
or not having the force of law) by any court or governmental or monetary authority charged with the
interpretation or administration of the laws.

“Reserve Requirement” means, for any Interest Period, the average maximum rate at which reserves
(including any marginal, supplemental or emergency reserves) are required to be maintained during
such Interest Period under Regulation D against “Eurocurrency liabilities” (as such term is used in
Regulation D) by member banks of the Federal Reserve System. Without limiting the effect of the
foregoing, the Reserve Requirement shall reflect any other reserves required to be maintained by
Bank by reason of any Regulatory Change against (i) any category of liabilities which includes
deposits by reference to which the LIBOR Rate is to be determined as provided in the definition of
“LIBOR Base Rate” or (ii) any category of extensions of credit or other assets which include
Advances.

	 	2.	 	Requests of Initial Advances and Continuation of Advances.

(a) Each LIBOR Rate Advance shall be made upon the irrevocable written request of Borrower
received by Bank not later than 11:00 a.m. (California time) on the Business Day three Business
Days prior to the date such Advance is to be made. Each such notice shall specify the date such
Advance is to be made, which day shall be a Business Day, the amount of such Advance, the Interest
Period for such Advance, and comply with such other requirements as Bank determines are reasonable
or desirable in connection therewith.

(b) Each written request for a LIBOR Rate Advance shall be in the form of a LIBOR Rate Advance
Borrowing Certificate as set forth on Exhibit A, which shall be duly executed by the Borrower.

(c) Each Prime Rate Advance shall be made upon the irrevocable written request of Borrower
received by Bank not later than 11:00 a.m. (California time) on the Business Day one (1) Business
on which such Advance is to be made. Each such notice shall specify the date such Advance is to be
made, which day shall be a Business Day, and the amount of such Advance, and comply with such other
requirements as Bank determines are reasonable or desirable in connection therewith.

	 	3.	 	Conversion/Continuation of Advances.

(a) Borrower may from time to time submit in writing a request that Prime Rate Advances be
converted to LIBOR Rate Advances or that any existing LIBOR Rate Advances continue for an
additional Interest Period. Such request shall specify the amount of the Prime Rate Advances which
will constitute LIBOR Rate Advances (subject to the limits set forth below) and the Interest Period
to be applicable to such LIBOR Rate Advances. Each written request for a conversion to a LIBOR
Rate Advance or a continuation of a LIBOR Rate Advance shall be substantially in the form of a
LIBOR Rate Conversion/Continuation Certificate as set forth on Exhibit B which shall be duly
executed by Borrower. Subject to the terms and conditions contained herein, three (3) Business
Days after Bank’s receipt of such a request from Borrower, such Prime Rate Advances shall be
converted to a LIBOR Rate Advance or such LIBOR Rate Advances shall continue, as the case may be
provided that:

(i) no Event of Default or event which with notice or passage of time or both would
constitute an Event of Default exists;

(ii) no party hereto shall have sent any notice of termination of this Supplement or of
the Loan Agreement;

(iii) Borrower shall have complied with such customary procedures as Bank has
established from time to time for Borrower’s requests for LIBOR Rate Advances;

(iv) the amount of a LIBOR Rate Advance shall be $250,000 or such greater amount which
is an integral multiple of $250,000; and

(v) Bank shall have determined that the Interest Period and LIBOR Rate is available to
Bank which can be readily determined as of the date of the request for such LIBOR Rate
Advance.

(b) Any request by Borrower to convert Prime Rate Advances to LIBOR Rate Advances or continue
any existing LIBOR Rate Advances shall be irrevocable. Notwithstanding anything to the contrary
contained herein, Bank shall not be required to purchase United States Dollar deposits in the
London interbank market or other applicable LIBOR Rate market to fund any LIBOR Rate Advances, but
the provisions hereof shall be deemed to apply as if Bank had purchased such deposits to fund the
LIBOR Rate Advances.

(c) Any LIBOR Rate Advance shall automatically convert to a Prime Rate Advance upon the last
day of the applicable Interest Period, unless Bank has received a request prior to the end of the
Interest Period to convert such LIBOR Rate Advance to a Prime Rate Advance or continue such Advance
as a LIBOR Rate Advance for a different Interest Period. Any LIBOR Rate Advances shall, at Bank’s
option, convert to Prime Rate Advances in the event that (i) an Event of Default, or event which
with the notice or passage of time or both would constitute an Event of Default, shall exist, or
(ii) this Supplement or the Loan Agreement shall terminate. Borrower agrees to pay Bank, upon
demand by Bank (or Bank may, at its option, charge Borrower’s loan account), any amounts required
to compensate Bank for any loss (including loss of anticipated profits), cost or expense incurred
by such Person as a result of the conversion of LIBOR Rate Advances to Prime Rate Advances pursuant
to any of the foregoing.

(d) On all Advances, interest shall be payable by Borrower to Bank monthly in arrears not
later than the payment date in each calendar month at the applicable Interest Rate.

	 	4.	 	Additional Requirements/Provisions Regarding LIBOR Rate Advances, Etc.

(a) If for any reason (including voluntary or mandatory prepayment or acceleration), Bank
receives all or part of the principal amount of a LIBOR Rate Advance on a day during an Interest
Period on which such amount is not due, Borrower shall, on demand by Bank, pay Bank the amount (if
any) by which (i) the additional interest which would have been payable on the amount so received
had it not been received until the last day of such Interest Period exceeds (ii) the interest which
would have been recoverable by Bank by placing the amount so received on deposit in the certificate
of deposit markets or the offshore currency interbank markets or United States Treasury investment
products, as the case may be, for a period starting on the date on which it was so received and
ending on the last day of such Interest Period at the interest rate determined by Bank in its
reasonable discretion. Bank’s determination as to such amount shall be conclusive absent manifest
error.

(b) Borrower shall pay to Bank, upon demand by Bank, from time to time such amounts as Bank
may determine to be necessary to compensate it for any costs incurred by Bank that Bank determines
are attributable to its making or maintaining of any amount receivable by Bank hereunder in respect
of any Advances relating thereto (such increases in costs and reductions in amounts receivable
being herein called “Additional Costs”), in each case resulting from any Regulatory Change which:

(i) changes the basis of taxation of any amounts payable to Bank under this Supplement
in respect of any Advances (other than changes which affect taxes measured by or imposed on
the overall net income of Bank by the jurisdiction in which such Bank had its principal
office); or

(ii) imposes or modifies any reserve, special deposit or similar requirements relating
to any extensions of credit or other assets of, or any deposits with or other liabilities of
Bank (including any Loans or any deposits referred to in the definition of “LIBOR Base
Rate”); or

(iii) imposes any other condition affecting this Supplement (or any of such extensions
of credit or liabilities).

Bank will notify Borrower of any event occurring after the date of the Loan Agreement which will
entitle Bank to compensation pursuant to this section as promptly as practicable after it obtains
knowledge thereof and determines to request such compensation. Bank will furnish Borrower with a
statement setting forth the basis and amount of each request by Bank for compensation under this
Section 4. Determinations and allocations by Bank for purposes of this Section 4 of the effect of
any Regulatory Change on its costs of maintaining its obligations to make Advances or of making or
maintaining Advances or on amounts receivable by it in respect of Advances, and of the additional
amounts required to compensate Bank in respect of any Additional Costs, shall be conclusive absent
manifest error.

(c) Borrower shall pay to Bank, upon the request of Bank, such amount or amounts as shall be
sufficient (in the sole good faith opinion of such Bank) to compensate it for any loss, costs or
expense incurred by it as a result of any failure by Borrower to (i) borrow a LIBOR Rate Advance on
the date for such borrowing, (ii) convert a Prime Rate Advance to a LIBOR Advance, or
(iii) continue a LIBOR Rate Advance for another Interest Period, in each case as specified in the
relevant notice of hereunder.

(d) If Bank shall determine that the adoption or implementation of any applicable law, rule,
regulation or treaty regarding capital adequacy, or any change therein, or any change in the
interpretation or administration thereof by any governmental authority, central bank or comparable
agency charged with the interpretation or administration thereof, or compliance by Bank (or its
applicable lending office) with any regulation or directive regarding capital adequacy (whether or
not having the force of law) of any such authority, central bank or comparable agency, has or would
have the effect of reducing the rate of return on capital of Bank or any Person controlling the
Bank (a “Parent”) as a consequence of its obligations hereunder to a level below that which Bank
(or its Parent) could have achieved but for such adoption, change or compliance (taking into
consideration its policies with respect to capital adequacy) by an amount deemed by Bank to be
material, then from time to time, within 15 days after demand by Bank, Borrower shall pay to Bank
such additional amount or amounts as will compensate Bank for such reduction. A statement of Bank
claiming compensation under this Section and setting forth the additional amount or amounts to be
paid to it hereunder shall be conclusive absent manifest error.

(e) If at any time Bank, in its sole and absolute discretion, determines that: (i) the amount
(if the LIBOR Rate Advances for periods equal to the corresponding Interest Periods are not
available to Bank in the offshore currency interbank markets), or (ii) the LIBOR Rate does not
accurately reflect the cost to Bank of lending the LIBOR Rate Advances, Bank shall promptly give
notice thereof to Borrower, and upon the giving of such notice Bank’s obligation to make the LIBOR
Rate Advances shall terminate, unless Bank and the Borrower agree in writing to a different
interest rate applicable to LIBOR Rate Advances. If it shall become unlawful for Bank to continue
to fund or maintain any Advances, or to perform its obligations hereunder, upon demand by Bank,
Borrower shall prepay the Advances in full with accrued interest thereon and all other amounts
payable by Borrower hereunder (including, without limitation, any amount payable in connection with
such prepayment pursuant to Section 4(a)).

5. General Provisions. In the event that Bank shall have determined (which
determination shall be final and conclusive and binding upon all parties hereto) with respect to
any LIBOR Rate Advance that, by reason of circumstances affecting the London interbank market,
adequate and fair means do not exist for ascertaining the interest rate applicable to such Advance
on the basis provided for in the definition of LIBOR, Bank shall on such date give notice (by
facsimile or by telephone confirmed in writing) to Borrower of such determination, whereupon (i) no
Advances may be made as, or converted to, LIBOR Rate Advances until such time as Bank notifies
Borrower that the circumstances giving rise to such notice no longer exist, and (ii) any Notice of
Borrowing or Notice of Conversion/Continuation given by Borrower with respect to LIBOR Rate
Advances in respect of which such determination was made shall be deemed to be rescinded by
Borrower.

5

Acknowledged by Borrower:

SIPEX CORPORATION,

a Delaware corporation

By:      

Title:      

6

EXHIBIT A

LIBOR RATE ADVANCE BORROWING CERTIFICATE

The undersigned hereby certifies as follows:

I,      , am the duly elected and acting      of Sipex Corporation,
a Delaware corporation (“Borrower”).

This certificate is delivered pursuant to Section 2 of that certain LIBOR Supplement to Agreement
together with the Loan and Security Agreement between Borrower and Silicon Valley Bank (“Bank”) (as
amended from time to time, the “Loan Agreement”). The terms used in this Borrowing Certificate
which are defined in the Loan Agreement have the same meaning herein as ascribed to them therein.

Borrower hereby requests on      , 200     a LIBOR Rate Advance (the “Advance”) as follows:

(a) The date on which the Advance is to be made is      , 200_.

(b) The amount of the Advance is to be      ($     ), for an Interest Period
of [     months].

All representations and warranties of Borrower stated in the Loan Agreement are true, correct and
complete in all material respects as of the date of this request for an Advance; provided, however,
that those representations and warranties expressly referring to another date shall be true,
correct and complete, in all material respects as of such date.

IN WITNESS WHEREOF, this Borrowing Base Certificate is executed by the undersigned as of this
     day of      , 200_.

SIPEX CORPORATION,

a Delaware corporation

By:

Title:

	 	 	For Internal Bank Use Only

	 	 	 	 	 	 	 	 	 
	LIBOR Pricing Date	 	LIBOR Rate	 	LIBOR Rate Variance	 	Maturity Date
	
 
	 	 	 	 	%	 	 	

	
 
	 	 	 	 	 	 	 	

	 
	 	 	 	 	 	 	 	 

7

EXHIBIT B

LIBOR RATE CONVERSION/CONTINUATION CERTIFICATE

[if required under LIBOR Supplement]

The undersigned hereby certifies as follows:

I,      , am the duly elected and acting      of Sipex Corporation,
a Delaware corporation (“Borrower”).

This certificate is delivered pursuant to Section 2 of that certain LIBOR Supplement to Agreement
together with the Loan and Security Agreement between Borrower and Silicon Valley Bank (“Bank”) (as
amended from time to time, the “Loan Agreement”). The terms used in this LIBOR Rate
Conversion/Continuation Certificate which are defined in the Loan Agreement have the same meaning
herein as ascribed to them therein.

Borrower hereby requests on      , 200     a LIBOR Rate Advance (the “Advance”) as follows:

	 	(a)	 	     (i) A rate conversion of an existing Prime Rate Advance from a Prime Rate
Advance to a LIBOR Rate Advance; or

	 	 	 	     (ii) A continuation of an existing LIBOR Rate Advance, which
currently has an Interest Period of [     months] as a LIBOR Rate Advance;

[Check (i) or (ii) above]

	 	(b)	 	The date on which the Advance is to be made is      , 200_.

(c) The amount of the Advance is to be      ($     ), for an Interest Period
of [     months].

All representations and warranties of Borrower stated in the Loan Agreement are true, correct and
complete in all material respects as of the date of this request for a loan; provided, however,
that those representations and warranties expressly referring to another date shall be true,
correct and complete, in all material respects as of such date.

IN WITNESS WHEREOF, this LIBOR Rate Conversion/Continuation Certificate is executed by the
undersigned as of this      day of      , 200_.

SIPEX CORPORATION,

a Delaware corporation

By:

Title:

	 	 	For Internal Bank Use Only

	 	 	 	 	 	 	 	 	 
	LIBOR Pricing Date	 	LIBOR Rate	 	LIBOR Rate Variance	 	Maturity Date
	
 
	 	 	 	 	%	 	 	

	
 
	 	 	 	 	 	 	 	

	 
	 	 	 	 	 	 	 	 

8EXHIBIT 4.1

                        WGL ENTERTAINMENT HOLDINGS, INC.
                              AMENDED AND RESTATED
                            2006 STOCK INCENTIVE PLAN
                              ARTICLE I -- PREAMBLE

1.1  This  Amended  and  Restated 2006 Stock Incentive Plan of WGL Entertainment
Holdings,  Inc.  is  intended  to  secure for the Company and its Affiliates the
benefits  arising from ownership of the Company's Common Stock by the Employees,
Officers,  Directors  and  Consultants of the Company and its Affiliates, all of
whom  are  and  will be responsible for the Company's future growth. The Plan is
designed to help attract and retain for the Company and its Affiliates personnel
of  superior  ability  for  positions  of  exceptional responsibility, to reward
Employees,  Officers,  Directors  and  Consultants  for  their  services  and to
motivate  such individuals through added incentives to further contribute to the
success  of  the  Company and its Affiliates. With respect to persons subject to
Section  16 of the Act, transactions under this Plan are intended to satisfy the
requirements  of  Rule  16b-3  of  the  Act.

1.2  Awards  under the Plan may be made to an Eligible Person in the form of (i)
Incentive  Stock  Options  (to Eligible Employees only); (ii) Nonqualified Stock
Options;  (iii)  Restricted Stock; (iv) Stock Awards; (v) Performance Shares; or
(vi)  any  combination  of  the  foregoing.

1.3  The  Company's  board of directors adopted the Plan on July 11, 2006, to be
effective  August  16, 2006 (the "Effective Date"), and amended and restated the
Plan  on  September  15,  2006,  subject  to approval by the shareholders of the
Company  to  the  extent  necessary to satisfy the requirements of the Code, the
Act,  or  other  applicable  federal  or  state law. Unless sooner terminated as
provided  elsewhere  in  this  Plan, this Plan shall terminate upon the close of
business on the day next preceding the tenth (10th) anniversary of the Effective
Date. Award Agreements outstanding on such date shall continue to have force and
effect  in  accordance  with  the  provisions  thereof.

1.4 The Plan shall be governed by, and construed in accordance with, the laws of
the  State  of  Delaware  (except  its  choice-of-law  provisions).

1.5  Capitalized  terms  shall  have  the  meaning provided in Article II unless
otherwise  provided  in  this  Plan  or  any  related  Award  Agreement.

ARTICLE  II  --  DEFINITIONS

DEFINITIONS.  Except  where  the  context  otherwise  indicates,  the  following
definitions  apply:

2.1  "Act"  means  the  Securities  Exchange Act of 1934, as now in effect or as
hereafter  amended.

2.2  "Affiliate"  means  any parent corporation or subsidiary corporation of the
Company,  whether  now  or  hereinafter  existing, as those terms are defined in
Sections  424(e)  and  (f),  respectively,  of  the  Code.

2.3  "Award"  means  an  award  granted  to a Participant in accordance with the
provisions of the Plan, including, but not limited to, Stock Options, Restricted
Stock,  Stock  Awards,  Performance Shares, or any combination of the foregoing.

2.4 "Award Agreement" means the separate written agreement evidencing each Award
granted  to  a  Participant  under  the  Plan.

2.5 "Board of Directors" or "Board" means the Board of Directors of the Company,
as  constituted  from  time  to  time.

2.7  "Change  of  Control"  means  (i)  the  adoption  of  a  plan  of merger or
consolidation  of  the  Company  with  any other corporation or association as a
result  of  which  the  holders  of the voting capital stock of the Company as a
group  would  receive less than 50% of the voting capital stock of the surviving
or  resulting  corporation;  (ii)  the  approval by the Board of Directors of an
agreement  providing  for  the  sale  or  transfer  (other  than as security for
obligations  of  the Company) of substantially all the assets of the Company; or
(iii)  in  the  absence  of  a  prior  expression  of  approval  by the Board of
Directors,  the  acquisition  of  more  than 20% of the Company's voting capital
stock  by  any person within the meaning of Rule 13d-3 under the Act (other than
the  Company or a person that directly or indirectly controls, is controlled by,
or  is  under  common  control  with,  the  Company).

<PAGE>

2.8  "Code"  means  the  Internal  Revenue  Code  of  1986,  as amended, and the
regulations  and  interpretations  promulgated  thereunder.

2.9  "Committee" means a committee of two or more members of the Board appointed
by  the  Board  in  accordance  with  Section  3.2  of  the  Plan.

2.10  "Common  Stock"  means  the  Company's  common  stock.

2.11  "Company"  means WGL Entertainment Holdings, Inc., a Delaware corporation.

2.12. "Consultant" means any person, including an advisor engaged by the Company
or  an  Affiliate  to  render  bona  fide consulting or advisory services to the
Company  or  an  Affiliate,  other than as an Employee, Director or Non-Employee
Director.

2.13  "Director"  means  a  member  of  the  Board  of Directors of the Company.

2.14  "Disability"  means  the permanent and total disability of a person within
the  meaning  of  Section  22(e)(3)  of  the  Code.

2.15  "Effective  Date"  shall be the date set forth in Section 1.3 of the Plan.

2.16  "Eligible  Employee"  means  an  Eligible Person who is an Employee of the
Company  or  any  Affiliate.

2.17  "Eligible  Person"  means  any  Employee,  Officer, Director, Non-Employee
Director  or  Consultant  of  the Company or any Affiliate, except for instances
where  services  are  in  connection  with  the offer or sale of securities in a
capital-raising  transaction, or they directly or indirectly promote or maintain
a  market  for the Company's securities, subject to any other limitations as may
be  provided  by the Code, the Act, or the Board. In making such determinations,
the  Board  may  take  into  account the nature of the services rendered by such
person,  his or her present and potential contribution to the Company's success,
and  such  other  factors  as  the  Board in its discretion shall deem relevant.

2.19  "Employee" means an individual who is a common-law employee of the Company
or  an  Affiliate including employment as an Officer. Mere service as a Director
or  payment  of  a  director's  fee  by the Company or an Affiliate shall not be
sufficient  to  constitute  "employment"  by  the  Company  or  an  Affiliate.

2.20  "ERISA"  means the Employee Retirement Income Security Act of 1974, as now
in  effect  or  as  hereafter  amended.

2.21  "Fair  Market  Value"  means:

(a)  for  purposes  of  an  Incentive Stock Option, if there is a market for the
Company's  stock,  on  a  stock  exchange  or  in an over-the-counter market, or
otherwise,  the  Fair  Market  Value  shall  be the mean between the highest and
lowest  quoted  selling  prices  on  the  valuation  date of the Incentive Stock
Option, or if there were no sales of the Company's Common Stock on the valuation
date,  the  Fair Market Value shall be the weighted average of the means between
the  highest  and  lowest  sales on the nearest date before and the nearest date
after  the  valuation  date.  If  a  valuation pursuant to this paragraph is not
available, the appropriate method described in Section 20.2031-2 of the Treasury
Regulations  adopted under the Code shall be used for the Fair Market Value, and

(b)  for  all  other  purposes,  the  mean between the highest and lowest quoted
selling  prices  of  the Common Stock (if actual sales price information on such
trading  day  is  not  available,  the  mean between the bona fide bid and asked
prices  on  such trading day shall be used) on the trading day immediately prior
to the date on which a determination is being made pursuant to this Section 2.21
(the  "Mean  Selling  Price"),  as  reported  by  the  National  Association  of
Securities Dealers Automated Quotation System ("NASDAQ"), or if the Common Stock
is  not traded on NASDAQ, the Mean Selling Price in the over-the-counter market;
provided,  however,  that if the Common Stock is listed on a stock exchange, the
Fair  Market  Value  shall  be  the  Mean  Selling  Price on such exchange; and,
provided  further,  that  if  the  Common  Stock  is not quoted or listed by any
organization,  the  fair  value of the Common Stock, as determined by the Board,
whose  determination  shall  be conclusive, shall be used. In no event shall the
Fair  Market  Value  of  any  share  of Common Stock be less than its par value.

2.22  "Grant  Date"  means,  as  to  any  Award,  the  latest  of:

(a)  the  date  on  which  the  Board  authorizes  the  grant  of  the Award; or

(b)  the  date  the  Participant  receiving  the  Award becomes an Employee or a
Director  of  the Company or its Affiliate, to the extent employment status is a
condition  of  the  grant  or  a  requirement  of  the  Code  or  the  Act;  or

(c) such other date (later than the dates described in (a) and (b) above) as the
Board  may  designate  and  as  set  forth in the Participant's Award Agreement.

<PAGE>

2.23  "Immediate  Family"  means  any  child,  stepchild,  grandchild,  parent,
stepparent,  grandparent,  spouse,  sibling,  mother-in-law,  father-in-law,
son-in-law,  daughter-in-law,  brother-in-law or sister-in-law and shall include
adoptive  relationships.

2.24  "Incentive  Stock  Option"  means a Stock Option intended to qualify as an
incentive  stock  option  within  the  meaning of Section 422 of the Code and is
granted under Article IV of the Plan and designated as an Incentive Stock Option
in  a  Participant's  Award  Agreement.

2.25  "Non-Employee  Director"  shall  have  the meaning set forth in Rule 16b-3
under  the  Act.

2.26 "Nonqualified Stock Option" means a Stock Option not intended to qualify as
an  Incentive  Stock  Option and is not so designated in the Participant's Award
Agreement.

2.27  "Officer"  means  a  person  who  is  an officer of the Company within the
meaning  of  Section  16  of  the  Act.

2.28  "Option  Period"  means  the  period  during  which  a Stock Option may be
exercised  from  time  to time, as established by the Board and set forth in the
Award  Agreement  for  each  Participant  who  is  granted  a  Stock  Option.

2.29 "Option Price" means the purchase price for a share of Common Stock subject
to  purchase  pursuant  to  a  Stock Option, as established by the Board and set
forth in the Award Agreement for each Participant who is granted a Stock Option.

2.30  "Outside  Director"  means  a  Director  who  either  (i) is not a current
employee  of  the  Company or an "affiliated corporation" (within the meaning of
Treasury  Regulations  promulgated  under  Section 162(m) of the Code), is not a
former  employee  of  the  Company  or  an  "affiliated  corporation"  receiving
compensation  for  prior  services  (other  than  benefits under a tax qualified
pension  plan), was not an officer of the Company or an "affiliated corporation"
at  any time and is not currently receiving direct or indirect remuneration from
the  Company  or  an "affiliated corporation" for services in any capacity other
than  as  a  Director  or (ii) is otherwise considered an "outside director" for
purposes  of  Section  162(m)  of  the  Code.

2.31  "Participant"  means  an Eligible Person to whom an Award has been granted
and  who  has  entered  into  an  Award  Agreement  evidencing  the Award or, if
applicable,  such  other  person  who  holds  an  outstanding  Award.

2.32  "Performance Objectives" shall have the meaning set forth in Article IX of
the  Plan.

2.33  "Performance Period" shall have the meaning set forth in Article IX of the
Plan.

2.34  "Performance  Share" means an Award under Article IX of the Plan of a unit
valued  by  reference  to  the  Common  Stock, the payout of which is subject to
achievement  of  such  Performance  Objectives,  measured  during  one  or  more
Performance  Periods,  as  the Board, in its sole discretion, shall establish at
the  time  of  such  Award  and  set  forth  in a Participant's Award Agreement.

2.35  "Plan"  means  this  WGL Entertainment Holdings, Inc. Amended and Restated
2006  Stock  Incentive  Plan,  as  it  may  be  amended  from  time  to  time.

2.36  "Reporting  Person"  means a person required to file reports under Section
16(a)  of  the  Act.

2.37  "Restricted  Stock" means an Award under Article VII of the Plan of shares
of  Common  Stock  that  are at the time of the Award subject to restrictions or
limitations  as to the Participant's ability to sell, transfer, pledge or assign
such  shares,  which  restrictions  or  limitations  may  lapse separately or in
combination  at  such time or times, in installments or otherwise, as the Board,
in  its sole discretion, shall determine at the time of such Award and set forth
in  a  Participant's  Award  Agreement.

2.38  "Restriction  Period"  means  the period commencing on the Grant Date with
respect to such shares of Restricted Stock and ending on such date as the Board,
in  its  sole discretion, shall establish and set forth in a Participant's Award
Agreement.

2.39 "Retirement" means retirement as determined under procedures established by
the  Board  or  in  any  Award, as set forth in a Participant's Award Agreement.

2.40 "Rule 16b-3" means Rule 16b-3 promulgated under the Act or any successor to
Rule  16b-3,  as in effect from time to time. Those provisions of the Plan which
make express reference to Rule 16b-3, or which are required in order for certain
option  transactions to qualify for exemption under Rule 16b-3, shall apply only
to  a  Reporting  Person.

2.41  "Stock  Award" means an Award of shares of Common Stock under Article VIII
of  the  Plan.

2.42  "Stock Option" means an Award under Article IV or Article V of the Plan of
an  option  to  purchase Common Stock. A Stock Option may be either an Incentive
Stock  Option  or  a  Nonqualified  Stock  Option.

<PAGE>

2.43 "Ten Percent Stockholder" means an individual who owns (or is deemed to own
pursuant  to Section 424(d) of the Code), at the time of grant, stock possessing
more than ten percent (10%) of the total combined voting power of all classes of
stock  of  the  Company  or  any  of  its  Affiliates.

2.44 "Termination of Service" means (i) in the case of an Eligible Employee, the
discontinuance  of  employment  of  such  Participant  with  the  Company or its
Subsidiaries for any reason other than a transfer to another member of the group
consisting  of the Company and its Affiliates and (ii) in the case of a Director
who  is  not  an  Employee  of  the  Company  or  any  Affiliate,  the date such
Participant  ceases  to  serve  as  a  Director.  The determination of whether a
Participant  has  discontinued  service  shall  be made by the Board in its sole
discretion.  In  determining  whether a Termination of Service has occurred, the
Board  may  provide  that  service  as  a  Consultant or service with a business
enterprise  in  which  the Company has a significant ownership interest shall be
treated  as  employment  with  the  Company.

ARTICLE  III  -  ADMINISTRATION

3.1 The Plan shall be administered by the Board of Directors of the Company. The
Board  shall  have  the  exclusive  right to interpret and construe the Plan, to
select  the  Eligible  Persons  who  shall  receive  an Award, and to act in all
matters  pertaining  to  the  grant  of  an  Award  and  the  determination  and
interpretation  of  the  provisions  of  the related Award Agreement, including,
without  limitation,  the determination of the number of shares subject to Stock
Options  and  the  Option  Period(s)  and Option Price(s) thereof, the number of
shares  of  Restricted  Stock  or  shares subject to Stock Awards or Performance
Shares  subject  to  an Award, the vesting periods (if any) and the form, terms,
conditions and duration of each Award, and any amendment thereof consistent with
the  provisions  of  the Plan. The Board may adopt, establish, amend and rescind
such rules, regulations and procedures as it may deem appropriate for the proper
administration  of  the  Plan,  make  all other determinations which are, in the
Board's  judgment,  necessary  or desirable for the proper administration of the
Plan,  amend  the Plan or a Stock Award as provided in Article XI, and terminate
or  suspend  the  Plan  as  provided in Article XI. All acts, determinations and
decisions of the Board made or taken pursuant to the Plan or with respect to any
questions  arising  in  connection with the administration and interpretation of
the  Plan  or  any Award Agreement, including the severability of any and all of
the provisions thereof, shall be conclusive, final and binding upon all persons.

3.2  The  Board  may,  to  the  full  extent  permitted  by  and consistent with
applicable  law  and  the  Company's  Bylaws, and subject to Subparagraph 3.2(b)
hereinbelow,  delegate  any  or  all  of  its  powers  with  respect  to  the
administration  of  the  Plan  to  a  Committee consisting of not fewer than two
members  of  the Board each of whom shall qualify (at the time of appointment to
the  Committee  and  during  all  periods  of  service  on the Committee) in all
respects  as  a  Non-Employee  Director  and  as  an  Outside  Director.

(a)  If administration is delegated to a Committee, the Committee shall have, in
connection with the administration of the Plan, the powers theretofore possessed
by  the  Board,  including  the  power  to delegate to a subcommittee any of the
administrative powers the Committee is authorized to exercise (and references in
the  Plan  to  the  Board shall thereafter be to the Committee or subcommittee),
subject, however, to such resolutions, not consistent with the provisions of the
Plan,  as  may  be  adopted  from  time  to  time  by  the  Board.

(b)  The Board may abolish the Committee at any time and reassume all powers and
authority  previously  delegated  to  the  Committee.

(c)  In  addition  to,  and  not in limitation of, the right of any Committee so
designated  by  the  Board  to  administer this Plan to grant Awards to Eligible
Persons under this Plan, the full Board of Directors may from time to time grant
Awards  to  Eligible  Persons pursuant to the terms and conditions of this Plan,
subject  to  the requirements of the Code, Rule 16b-3 under the Act or any other
applicable  law,  rule  or  regulation.  In connection with any such grants, the
Board of Directors shall have all of the power and authority of the Committee to
determine  the  Eligible  Persons  to  whom such Awards shall be granted and the
other  terms  and  conditions  of  such  Awards.

3.3  Without  limiting  the  provisions  of this Article III, and subject to the
provisions  of  Article  X,  the  Board  is authorized to take such action as it
determines  to be necessary or advisable, and fair and equitable to Participants
and  to  the  Company,  with  respect  to an outstanding Award in the event of a
Change  of Control as described in Article X or other similar event. Such action
may  include, but shall not be limited to, establishing, amending or waiving the
form,  terms,  conditions  and  duration  of  an  Award  and  the  related Award
Agreement, so as to provide for earlier, later, extended or additional times for
exercise  or  payments,  differing  methods  for calculating payments, alternate
forms  and  amounts  of payment, an accelerated release of restrictions or other
modifications.  The  Board may take such actions pursuant to this Section 3.3 by
adopting  rules  and regulations of general applicability to all Participants or
to  certain  categories of Participants, by including, amending or waiving terms
and  conditions in an Award and the related Award Agreement, or by taking action
with  respect  to  individual  Participants  from  time  to  time.

<PAGE>

3.4  Subject  to  the provisions of Section 3.9, the maximum aggregate number of
shares  of  Common  Stock  which may be issued pursuant to Awards under the Plan
shall  be  Two Billion (2,000,000,000) shares. Such shares of Common Stock shall
be  made  available  from  authorized  and  unissued  shares  of  the  Company.

(a)  For  all  purposes  under the Plan, each Performance Share awarded shall be
counted  as  one  share  of  Common  Stock  subject  to  an  Award.

(b)  If,  for any reason, any shares of Common Stock (including shares of Common
Stock  subject  to  Performance Shares) that have been awarded or are subject to
issuance  or  purchase  pursuant  to  Awards  outstanding under the Plan are not
delivered  or  purchased,  or  are  reacquired  by  the Company, for any reason,
including but not limited to a forfeiture of Restricted Stock or failure to earn
Performance  Shares  or  the  termination, expiration or cancellation of a Stock
Option,  or  any other termination of an Award without payment being made in the
form of shares of Common Stock (whether or not Restricted Stock), such shares of
Common  Stock  shall  not  be  charged against the aggregate number of shares of
Common Stock available for Award under the Plan and shall again be available for
Awards  under  the  Plan.  In  no  event,  however,  may  Common  Stock  that is
surrendered  or  withheld  to  pay  the  exercise  price of a Stock Option or to
satisfy  tax  withholding  requirements be available for future grants under the
Plan.

(c)  The  foregoing subsections (a) and (b) of this Section 3.4 shall be subject
to any limitations provided by the Code or by Rule 16b-3 under the Act or by any
other  applicable  law,  rule  or  regulation.

3.5  Each  Award  granted  under  the Plan shall be evidenced by a written Award
Agreement,  which  shall  be  subject  to and shall incorporate (by reference or
otherwise) the applicable terms and conditions of the Plan and shall include any
other  terms  and  conditions  (not  inconsistent with the Plan) required by the
Board.

3.6  The  Company shall not be required to issue or deliver any certificates for
shares  of  Common  Stock  under  the  Plan  prior  to:

(a)  any  required  approval of the Plan by the shareholders of the Company; and

(b) the completion of any registration or qualification of such shares of Common
Stock  under  any  federal  or  state  law,  or  any ruling or regulation of any
governmental  body  that the Company shall, in its sole discretion, determine to
be  necessary  or  advisable.

3.7  The  Board  may  require  any  Participant acquiring shares of Common Stock
pursuant  to any Award under the Plan to represent to and agree with the Company
in  writing  that  such  person  is  acquiring  the  shares  of Common Stock for
investment purposes and without a view to resale or distribution thereof. Shares
of  Common  Stock  issued  and delivered under the Plan shall also be subject to
such stop-transfer orders and other restrictions as the Board may deem advisable
under  the  rules,  regulations  and  other  requirements  of the Securities and
Exchange  Commission,  any  stock  exchange  upon which the Common Stock is then
listed  and  any  applicable  federal  or  state laws, and the Board may cause a
legend  or  legends to be placed on the certificate or certificates representing
any  such  shares  to  make  appropriate  reference to any such restrictions. In
making such determination, the Board may rely upon an opinion of counsel for the
Company.

3.8  Except as otherwise expressly provided in the Plan or in an Award Agreement
with  respect  to an Award, no Participant shall have any right as a shareholder
of  the  Company  with  respect  to  any  shares of Common Stock subject to such
Participant's  Award  except  to  the  extent  that,  and  until,  one  or  more
certificates  representing such shares of Common Stock shall have been delivered
to  the  Participant.  No  shares  shall  be  required  to  be  issued,  and  no
certificates  shall be required to be delivered, under the Plan unless and until
all of the terms and conditions applicable to such Award shall have, in the sole
discretion  of the Board, been satisfied in full and any restrictions shall have
lapsed  in  full, and unless and until all of the requirements of law and of all
regulatory  bodies  having jurisdiction over the offer and sale, or issuance and
delivery,  of  the  shares  shall  have  been  fully  complied  with.

3.9 The total amount of shares with respect to which Awards may be granted under
the  Plan  and  rights  of  outstanding  Awards (both as to the number of shares
subject  to  the  outstanding  Awards  and the Option Price(s) or other purchase
price(s)  of such shares, as applicable) shall be appropriately adjusted for any
increase  or decrease in the number of outstanding shares of Common Stock of the
Company  resulting from payment of a stock dividend on the Common Stock, a stock
split  or  subdivision  or  combination  of  shares  of  the  Common Stock, or a
reorganization  or  reclassification of the Common Stock, or any other change in
the  structure  of shares of the Common Stock. The foregoing adjustments and the
manner  of  application  of  the foregoing provisions shall be determined by the
Board  in  its  sole  discretion.  Any  such  adjustment  may  provide  for  the
elimination  of any fractional shares which might otherwise become subject to an
Award.  All  adjustments  made as the result of the foregoing in respect of each
Incentive  Stock  Option shall be made so that such Incentive Stock Option shall
continue to be an Incentive Stock Option, as defined in Section 422 of the Code.

<PAGE>

3.10  No  director or person acting pursuant to authority delegated by the Board
shall  be  liable  for  any  action or determination under the Plan made in good
faith.  The  members  of  the  Board shall be entitled to indemnification by the
Company  in  the manner and to the extent set forth in the Company's Articles of
Incorporation,  as  amended,  Bylaws  or as otherwise provided from time to time
regarding  indemnification  of  Directors.

3.11  The Board shall be authorized to make adjustments in any performance based
criteria  or  in  the  other  terms  and  conditions  of  outstanding  Awards in
recognition  of  unusual  or  nonrecurring  events affecting the Company (or any
Affiliate,  if  applicable) or its financial statements or changes in applicable
laws,  regulations  or  accounting principles. The Board may correct any defect,
supply  any  omission  or  reconcile  any inconsistency in the Plan or any Award
Agreement  in  the manner and to the extent it shall deem necessary or desirable
to  reflect  any such adjustment. In the event the Company (or any Affiliate, if
applicable)  shall  assume  outstanding  employee benefit awards or the right or
obligation  to  make  future  such  awards in connection with the acquisition of
another  corporation  or business entity, the Board may, in its sole discretion,
make  such  adjustments  in the terms of outstanding Awards under the Plan as it
shall  deem  appropriate.

3.12  Subject  to  the express provisions of the Plan, the Board shall have full
power  and  authority  to  determine  whether,  to  what  extent  and under what
circumstances  any outstanding Award shall be terminated, canceled, forfeited or
suspended.  Notwithstanding  the foregoing or any other provision of the Plan or
an  Award  Agreement,  all  Awards  to  any  Participant that are subject to any
restriction  or  have  not  been  earned or exercised in full by the Participant
shall  be terminated and canceled if the Participant is terminated for cause, as
determined  by  the  Board  in  its  sole  discretion.

ARTICLE  IV  --  INCENTIVE  STOCK  OPTIONS

4.1  The  Board,  in  its sole discretion, may from time to time on or after the
Effective  Date  grant Incentive Stock Options to Eligible Employees, subject to
the  provisions  of  this  Article IV and Articles III and VI and subject to the
following  conditions:

(a) Incentive Stock Options shall be granted only to Eligible Employees, each of
whom  may be granted one or more of such Incentive Stock Options at such time or
times  determined  by  the  Board.

(b)  The  Option  Price  per share of Common Stock for an Incentive Stock Option
shall  be set in the Award Agreement, but shall not be less than (i) one hundred
percent  (100%)  of the Fair Market Value of the Common Stock at the Grant Date,
or  (ii)  in  the  case  of  an  Incentive Stock Option granted to a Ten Percent
Stockholder,  one  hundred  ten  percent  (110%) of the Fair Market Value of the
Common  Stock  at  the  Grant  Date.

(c)  An  Incentive Stock Option may be exercised in full or in part from time to
time within ten (10) years from the Grant Date, or such shorter period as may be
specified  by  the  Board  as  the  Option  Period  and  set  forth in the Award
Agreement;  provided,  however,  that,  in the case of an Incentive Stock Option
granted  to  a  Ten  Percent  Stockholder, such period shall not exceed five (5)
years  from  the  Grant  Date;  and  further,  provided  that, in any event, the
Incentive  Stock  Option  shall  lapse  and  cease  to  be  exercisable  upon  a
Termination  of Service or within such period following a Termination of Service
as  shall  have  been determined by the Board and set forth in the related Award
Agreement;  and  provided, further, that such period shall not exceed the period
of  time ending on the date three (3) months following a Termination of Service,
unless  employment  shall  have  terminated:

(i)  as  a result of Disability, in which event such period shall not exceed the
period  of time ending on the date twelve (12) months following a Termination of
Service;  or

(ii)  as  a  result  of  death,  or  if  death  shall  have occurred following a
Termination  of  Service  (other  than as a result of Disability) and during the
period  that  the  Incentive  Stock Option was still exercisable, in which event
such  period may not exceed the period of time ending on the earlier of the date
twelve  (12)  months  after  the  date  of  death;

and  provided,  further,  that such period following a Termination of Service or
death  shall  in  no  event  extend  beyond  the  original  Option Period of the
Incentive  Stock  Option.

(d)  The  aggregate Fair Market Value of the shares of Common Stock with respect
to  which any Incentive Stock Options (whether under this Plan or any other plan
established  by  the  Company) are first exercisable during any calendar year by
any  Eligible Employee shall not exceed one hundred thousand dollars ($100,000),
determined  based  on  the  Fair  Market  Value(s)  of  such  shares as of their
respective  Grant  Dates;  provided, however, that to the extent permitted under
Section  422  of  the Code, if the aggregate Fair Market Values of the shares of
Common  Stock with respect to which Stock Options intended to be Incentive Stock
Options  are first exercisable by any Eligible Employee during any calendar year
(whether  such  Stock  Options  are  granted  under  this Plan or any other plan
established  by the Company) exceed one hundred thousand dollars ($100,000), the
Stock  Options  or  portions  thereof  which exceed such limit (according to the
order  in  which  they  were  granted)  shall  be  treated as Nonqualified Stock
Options.

<PAGE>

(e)  No Incentive Stock Options may be granted more than ten (10) years from the
Effective  Date.

(f)  The  Award Agreement for each Incentive Stock Option shall provide that the
Participant  shall  notify  the  Company  if such Participant sells or otherwise
transfers  any  shares  of  Common Stock acquired upon exercise of the Incentive
Stock  Option  within  two  (2)  years of the Grant Date of such Incentive Stock
Option  or  within  one  (1) year of the date such shares were acquired upon the
exercise  of  such  Incentive  Stock  Option.

4.2  Subject  to the limitations of Section 3.4, the maximum aggregate number of
shares  of  Common  Stock  subject to Incentive Stock Option Awards shall be the
maximum  aggregate  number  of  shares  available  for  Awards  under  the Plan.

4.3 The Board may provide for any other terms and conditions which it determines
should  be imposed for an Incentive Stock Option to qualify under Section 422 of
the  Code,  as well as any other terms and conditions not inconsistent with this
Article  IV  or Articles III or VI, as determined in its sole discretion and set
forth  in  the  Award  Agreement  for  such  Incentive  Stock  Option.

4.4 Each provision of this Article IV and of each Incentive Stock Option granted
hereunder shall be construed in accordance with the provisions of Section 422 of
the  Code,  and  any  provision  hereof  that  cannot  be  so construed shall be
disregarded.

ARTICLE  V  --  NONQUALIFIED  STOCK  OPTIONS

5.1  The  Board,  in  its sole discretion, may from time to time on or after the
Effective  Date grant Nonqualified Stock Options to Eligible Persons, subject to
the  provisions  of  this  Article  V and Articles III and VI and subject to the
following  conditions:

(a)  Nonqualified  Stock  Options may be granted to any Eligible Person, each of
whom may be granted one or more of such Nonqualified Stock Options, at such time
or  times  determined  by  the  Board.

(b)  The  Option Price per share of Common Stock for a Nonqualified Stock Option
shall  be  set  in  the Award Agreement and may be less than one hundred percent
(100%) of the Fair Market Value of the Common Stock at the Grant Date; provided,
however, that the exercise price of each Nonqualified Stock Option granted under
the Plan shall in no event be less than the par value per share of the Company's
Common  Stock.

(c) A Nonqualified Stock Option may be exercised in full or in part from time to
time  within the Option Period specified by the Board and set forth in the Award
Agreement;  provided, however, that, in any event, the Nonqualified Stock Option
shall  lapse and cease to be exercisable upon a Termination of Service or within
such  period following a Termination of Service as shall have been determined by
the  Board  and  set  forth  in  the  related  Award  Agreement.

5.2  The Board may provide for any other terms and conditions for a Nonqualified
Stock  Option  not  inconsistent  with  this Article V or Articles III or VI, as
determined  in its sole discretion and set forth in the Award Agreement for such
Nonqualified  Stock  Option.

ARTICLE  VI  --  INCIDENTS  OF  STOCK  OPTIONS

6.1  Each Stock Option shall be granted subject to such terms and conditions, if
any,  not  inconsistent  with this Plan, as shall be determined by the Board and
set  forth  in  the  related  Award  Agreement,  including  any provisions as to
continued  employment  as  consideration for the grant or exercise of such Stock
Option and any provisions which may be advisable to comply with applicable laws,
regulations  or  rulings  of  any  governmental  authority.

6.2 Except as hereinafter described, a Stock Option shall not be transferable by
the  Participant  other than by will or by the laws of descent and distribution,
and  shall  be  exercisable  during  the lifetime of the Participant only by the
Participant  or the Participant's guardian or legal representative. In the event
of the death of a Participant, any unexercised Stock Options may be exercised to
the extent otherwise provided herein or in such Participant's Award Agreement by
the  executor  or personal representative of such Participant's estate or by any
person  who  acquired  the right to exercise such Stock Options by bequest under
the Participant's will or by inheritance. The Board, in its sole discretion, may
at  any time permit a Participant to transfer a Nonqualified Stock Option for no
consideration  to or for the benefit of one or more members of the Participant's
Immediate  Family  (including, without limitation, to a trust for the benefit of
the  Participant  and/or  one  or  more  members of such Participant's Immediate
Family  or  a  corporation, partnership or limited liability company established
and  controlled  by  the  Participant  and/or  one  or  more  members  of  such
Participant's  Immediate  Family),  subject  to  such  limits  as  the Board may
establish. The transferee of such Nonqualified Stock Option shall remain subject
to  all  terms and conditions applicable to such Nonqualified Stock Option prior
to such transfer. The foregoing right to transfer the Nonqualified Stock Option,
if granted by the Board shall apply to the right to consent to amendments to the
Award  Agreement.

6.3  Shares  of  Common Stock purchased upon exercise of a Stock Option shall be
paid  for  in  such  amounts,  at  such  times  and  upon such terms as shall be
determined  by  the  Board, subject to limitations set forth in the Stock Option

<PAGE>

Award Agreement. The Board may, in its sole discretion, permit the exercise of a
Stock  Option  by payment in cash or by tendering shares of Common Stock (either
by  actual  delivery  of  such  shares  or  by  attestation), or any combination
thereof,  as  determined  by  the  Board.  In  the sole discretion of the Board,
payment in shares of Common Stock also may be made with shares received upon the
exercise  or  partial  exercise  of the Stock Option, whether or not involving a
series  of  exercises or partial exercises and whether or not share certificates
for  such  shares  surrendered have been delivered to the Participant. The Board
also  may, in its sole discretion, permit the payment of the exercise price of a
Stock Option by the voluntary surrender of all or a portion of the Stock Option.
Shares  of  Common  Stock  previously held by the Participant and surrendered in
payment  of  the Option Price of a Stock Option shall be valued for such purpose
at  the  Fair  Market  Value  thereof on the date the Stock Option is exercised.
6.4  The  holder  of  a  Stock Option shall have no rights as a shareholder with
respect  to  any  shares  covered  by  the  Stock  Option  (including,  without
limitation,  any  voting  rights,  the right to inspect or receive the Company's
balance  sheets  or  financial  statements or any rights to receive dividends or
non-cash  distributions  with  respect  to  such  shares) until such time as the
holder  has  exercised the Stock Option and then only with respect to the number
of shares which are the subject of the exercise. 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.

6.5  The  Board  may  permit  the voluntary surrender of all or a portion of any
Stock  Option  granted under the Plan to be conditioned upon the granting to the
Participant  of  a new Stock Option for the same or a different number of shares
of  Common  Stock as the Stock Option surrendered, or may require such voluntary
surrender  as  a  condition  precedent  to a grant of a new Stock Option to such
Participant.  Subject to the provisions of the Plan, such new Stock Option shall
be exercisable at such Option Price, during such Option Period and on such other
terms  and  conditions  as  are specified by the Board at the time the new Stock
Option  is  granted.  Upon  surrender,  the  Stock  Options surrendered shall be
canceled  and  the  shares  of  Common Stock previously subject to them shall be
available  for  the  grant  of  other  Stock  Options.

6.6  The  Board  may  at  any time offer to purchase a Participant's outstanding
Stock  Option  for  a payment equal to the value of such Stock Option payable in
cash,  shares  of  Common  Stock  or  Restricted  Stock  or  other property upon
surrender  of the Participant's Stock Option, based on such terms and conditions
as the Board shall establish and communicate to the Participant at the time that
such  offer  is  made.

6.7  The  Board  shall  have  the discretion, exercisable either at the time the
Award  is  granted  or  at  the time the Participant discontinues employment, to
establish as a provision applicable to the exercise of one or more Stock Options
that,  during  a  limited  period  of  exercisability following a Termination of
Service,  the  Stock Option may be exercised not only with respect to the number
of  shares  of  Common  Stock  for  which  it  is exercisable at the time of the
Termination  of  Service  but  also  with  respect  to  one  or  more subsequent
installments  for  which  the Stock Option would have become exercisable had the
Termination  of  Service  not  occurred.

ARTICLE  VII  --  RESTRICTED  STOCK

7.1  The  Board,  in  its sole discretion, may from time to time on or after the
Effective  Date award shares of Restricted Stock to Eligible Persons as a reward
for  past  service  and an incentive for the performance of future services that
will  contribute  materially  to  the successful operation of the Company an its
Affiliates,  subject  to  the  terms  and  conditions set forth in this Article.

7.2  The  Board  shall  determine  the  terms  and  conditions  of  any Award of
Restricted  Stock,  which  shall  be  set  forth in the related Award Agreement,
including  without  limitation:

(a)  the purchase price, if any, to be paid for such Restricted Stock, which may
be  zero, subject to such minimum consideration as may be required by applicable
law;

(b)  the  duration of the Restriction Period or Restriction Periods with respect
to  such Restricted Stock and whether any events may accelerate or delay the end
of  such  Restriction  Period(s);

(c)  the  circumstances  upon which the restrictions or limitations shall lapse,
and  whether  such  restrictions  or limitations shall lapse as to all shares of
Restricted  Stock at the end of the Restriction Period or as to a portion of the
shares  of  Restricted  Stock  in  installments during the Restriction Period by
means  of  one  or  more  vesting  schedules;

(d)  whether such Restricted Stock is subject to repurchase by the Company or to
a right of first refusal at a predetermined price or if the Restricted Stock may
be  forfeited  entirely  under  certain  conditions;

(e)  whether  any performance goals may apply to a Restriction Period to shorten
or  lengthen  such  period;  and

<PAGE>

(f)  whether  dividends  and other distributions with respect to such Restricted
Stock are to be paid currently to the Participant or withheld by the Company for
the  account  of  the  Participant.

7.3  Awards  of Restricted Stock must be accepted within a period of thirty (30)
days  after  the  Grant  Date (or such shorter or longer period as the Board may
specify  at  such  time)  by  executing  an Award Agreement with respect to such
Restricted  Stock  and  tendering  the  purchase  price,  if  any. A prospective
recipient of an Award of Restricted Stock shall not have any rights with respect
to  such  Award,  unless  such  recipient  has  executed an Award Agreement with
respect to such Restricted Stock, has delivered a fully executed copy thereof to
the Board and has otherwise complied with the applicable terms and conditions of
such  Award.

7.4  In the sole discretion of the Board and as set forth in the Award Agreement
for  an  Award  of  Restricted  Stock,  all shares of Restricted Stock held by a
Participant  and  still  subject  to  restrictions  shall  be  forfeited  by the
Participant  upon  the  Participant's  Termination  of  Service  and  shall  be
reacquired,  canceled and retired by the Company. Notwithstanding the foregoing,
unless  otherwise  provided  in  an  Award Agreement with respect to an Award of
Restricted  Stock,  in  the  event  of  the death, Disability or Retirement of a
Participant  during  the  Restriction  Period,  or  in  other  cases  of special
circumstances  (including  hardship  or  other  special  circumstances  of  a
Participant  whose  employment is involuntarily terminated), the Board may elect
to  waive  in whole or in part any remaining restrictions with respect to all or
any part of such Participant's Restricted Stock, if it finds that a waiver would
be  appropriate.

7.5  Except  as  otherwise provided in this Article VII, no shares of Restricted
Stock  received by a Participant shall be sold, exchanged, transferred, pledged,
hypothecated  or  otherwise  disposed  of  during  the  Restriction  Period.

7.6  Upon  an  Award  of  Restricted  Stock  to  a Participant, a certificate or
certificates  representing the shares of such Restricted Stock will be issued to
and  registered  in  the name of the Participant. Unless otherwise determined by
the  Board,  such  certificate  or  certificates  will be held in custody by the
Company  until  (i)  the  Restriction  Period  expires  and  the restrictions or
limitations  lapse,  in  which  case  one or more certificates representing such
shares of Restricted Stock that do not bear a restrictive legend (other than any
legend  as  required under applicable federal or state securities laws) shall be
delivered  to  the Participant, or (ii) a prior forfeiture by the Participant of
the shares of Restricted Stock subject to such Restriction Period, in which case
the  Company shall cause such certificate or certificates to be canceled and the
shares  represented thereby to be retired, all as set forth in the Participant's
Award  Agreement.  It  shall be a condition of an Award of Restricted Stock that
the  Participant deliver to the Company a stock power endorsed in blank relating
to  the  shares  of  Restricted  Stock  to  be  held  in custody by the Company.

7.7  Except as provided in this Article VII or in the related Award Agreement, a
Participant  receiving  an Award of shares of Restricted Stock Award shall have,
with  respect  to  such  shares,  all  rights  of  a shareholder of the Company,
including  the  right  to  vote  the  shares  and  the  right  to  receive  any
distributions,  unless  and  until  such  shares are otherwise forfeited by such
Participant;  provided,  however,  the Board may require that any cash dividends
with  respect  to such shares of Restricted Stock be automatically reinvested in
additional  shares  of  Restricted Stock subject to the same restrictions as the
underlying  Award, or may require that cash dividends and other distributions on
Restricted Stock be withheld by the Company or its Affiliates for the account of
the  Participant.  The  Board  shall determine whether interest shall be paid on
amounts  withheld, the rate of any such interest, and the other terms applicable
to  such  withheld  amounts.

ARTICLE  VIII  --  STOCK  AWARDS

8.1  The  Board,  in  its sole discretion, may from time to time on or after the
Effective Date grant Stock Awards to Eligible Persons in payment of compensation
that  has  been  earned  or  as  compensation  to  be  earned, including without
limitation  compensation  awarded  or  earned  concurrently with or prior to the
grant  of the Stock Award, subject to the terms and conditions set forth in this
Article  VIII.

8.2  For  the  purposes of this Plan, in determining the value of a Stock Award,
all shares of Common Stock subject to such Stock Award shall be set in the Award
Agreement  and  may  be  less than one hundred percent (100%) of the Fair Market
Value  of  the  Common  Stock  at  the  Grant  Date.

8.3  Unless otherwise determined by the Board and set forth in the related Award
Agreement,  shares  of Common Stock subject to a Stock Award will be issued, and
one  or  more  certificates  representing  such shares will be delivered, to the
Participant as soon as practicable following the Grant Date of such Stock Award.
Upon  the  issuance  of such shares and the delivery of one or more certificates
representing  such  shares  to  the  Participant,  such Participant shall be and
become a shareholder of the Company fully entitled to receive dividends, to vote
and  to  exercise  all  other  rights  of  a  shareholder  of  the  Company.
Notwithstanding  any  other  provision  of this Plan, unless the Board expressly
provides  otherwise  with  respect to a Stock Award, as set forth in the related
Award  Agreement,  no Stock Award shall be deemed to be an outstanding Award for
purposes  of  the  Plan.

<PAGE>

ARTICLE  IX  --  PERFORMANCE  SHARES

9.1  The  Board,  in  its sole discretion, may from time to time on or after the
Effective  Date award Performance Shares to Eligible Persons as an incentive for
the  performance  of  future  services  that  will  contribute materially to the
successful operation of the Company and its Affiliates, subject to the terms and
conditions  set  forth  in  this  Article  IX.

9.2  The  Board  shall  determine  the  terms  and  conditions  of  any Award of
Performance  Shares,  which  shall  be set forth in the related Award Agreement,
including  without  limitation:

(a)  the  purchase  price, if any, to be paid for such Performance Shares, which
may  be  zero,  subject  to  such  minimum  consideration  as may be required by
applicable  law;

(b)  the  performance  period  (the  "Performance  Period")  and/or  performance
objectives  (the  "Performance  Objectives")  applicable  to  such  Awards;

(c)  the  number  of Performance Shares that shall be paid to the Participant if
the  applicable  Performance Objectives are exceeded or met in whole or in part;
and

(d)  the  form  of  settlement  of  a  Performance  Share.

9.3  At  any  date,  each Performance Share shall have a value equal to the Fair
Market  Value  of  a  share  of  Common  Stock.

9.4  Performance  Periods  may  overlap,  and  Participants  may  participate
simultaneously  with  respect  to  Performance  Shares  for  which  different
Performance  Periods  are  prescribed.

9.5  Performance Objectives may vary from Participant to Participant and between
Awards  and  shall  be  based  upon  such performance criteria or combination of
factors  as  the  Board  may  deem  appropriate,  including, but not limited to,
minimum  earnings  per  share  or  return  on  equity. If during the course of a
Performance  Period there shall occur significant events which the Board expects
to  have  a  substantial  effect on the applicable Performance Objectives during
such  period,  the  Board  may  revise  such  Performance  Objectives.

9.6  In the sole discretion of the Board and as set forth in the Award Agreement
for an Award of Performance Shares, all Performance Shares held by a Participant
and  not  earned  shall  be  forfeited by the Participant upon the Participant's
Termination of Service. Notwithstanding the foregoing, unless otherwise provided
in  an  Award  Agreement  with respect to an Award of Performance Shares, in the
event  of  the  death,  Disability  or  Retirement  of  a Participant during the
applicable  Performance  Period,  or  in  other  cases  of special circumstances
(including  hardship  or  other  special  circumstances  of  a Participant whose
employment  is  involuntarily  terminated),  the  Board  may determine to make a
payment  in  settlement of such Performance Shares at the end of the Performance
Period, based upon the extent to which the Performance Objectives were satisfied
at  the  end  of  such  period  and pro rated for the portion of the Performance
Period during which the Participant was employed by the Company or an Affiliate;
provided,  however,  that  the  Board  may  provide  for  an  earlier payment in
settlement  of  such  Performance Shares in such amount and under such terms and
conditions  as  the  Board  deems  appropriate  or  desirable.

9.7 The settlement of a Performance Share shall be made in cash, whole shares of
Common  Stock  or a combination thereof and shall be made as soon as practicable
after  the  end  of  the  applicable  Performance  Period.  Notwithstanding  the
foregoing,  the  Board  in  its sole discretion may allow a Participant to defer
payment  in settlement of Performance Shares on terms and conditions approved by
the  Board  and set forth in the related Award Agreement entered into in advance
of  the  time  of receipt or constructive receipt of payment by the Participant.

9.8  Performance  Shares shall not be transferable by the Participant. The Board
shall  have  the  authority  to place additional restrictions on the Performance
Shares  including, but not limited to, restrictions on transfer of any shares of
Common  Stock  that  are  delivered  to  a  Participant  in  settlement  of  any
Performance  Shares.

ARTICLE  X  --  CHANGES  OF  CONTROL  OR  OTHER  FUNDAMENTAL  CHANGES

10.1 Upon the occurrence of a Change of Control and unless otherwise provided in
the  Award  Agreement  with  respect  to  a  particular  Award:

(a)  all outstanding Stock Options shall become immediately exercisable in full,
subject  to  any  appropriate adjustments in the number of shares subject to the
Stock  Option  and  the  Option  Price,  and  shall  remain  exercisable for the
remaining  Option  Period,  regardless  of  any  provision  in the related Award
Agreement  limiting  the  exercisability  of  such  Stock  Option or any portion
thereof  for  any  length  of  time;

<PAGE>

(b)  all  outstanding  Performance  Shares  with respect to which the applicable
Performance  Period  has  not  been  completed  shall  be  paid  out  as soon as
practicable  as  follows:

(i)  all  Performance  Objectives  applicable to the Award of Performance Shares
shall  be  deemed  to  have  been  satisfied to the extent necessary to earn one
hundred  percent  (100%)  of  the  Performance  Shares  covered  by  the  Award;

(ii)  the  applicable  Performance Period shall be deemed to have been completed
upon  occurrence  of  the  Change  of  Control;

(iii)  the  payment  to  the Participant in settlement of the Performance Shares
shall  be  the amount determined by the Board, in its sole discretion, or in the
manner stated in the Award Agreement, as multiplied by a fraction, the numerator
of  which  is  the  number of full calendar months of the applicable Performance
Period  that  have elapsed prior to occurrence of the Change of Control, and the
denominator  of  which is the total number of months in the original Performance
Period;  and

(iv)  upon  the  making  of any such payment, the Award Agreement as to which it
relates  shall  be  deemed  terminated  and  of  no  further  force  and effect.

(c)  all  outstanding  shares  of  Restricted  Stock  with  respect to which the
restrictions  have  not lapsed shall be deemed vested, and all such restrictions
shall  be  deemed  lapsed  and  the  Restriction  Period  ended.

10.2  Anything  contained  herein  to  the  contrary  notwithstanding,  upon the
dissolution or liquidation of the Company, each Award granted under the Plan and
then outstanding shall terminate; provided, however, that following the adoption
of a plan of dissolution or liquidation, and in any event prior to the effective
date  of  such  dissolution  or liquidation, each such outstanding Award granted
hereunder  shall be exercisable in full and all restrictions shall lapse, to the
extent  set  forth  in  Section  10.1(a),  (b)  and  (c)  above.

10.3  After  the  merger  of  one  or  more corporations into the Company or any
Affiliate, any merger of the Company into another corporation, any consolidation
of  the Company or any Affiliate of the Company and one or more corporations, or
any  other corporate reorganization of any form involving the Company as a party
thereto and involving any exchange, conversion, adjustment or other modification
of  the  outstanding  shares  of the Common Stock, each Participant shall, at no
additional  cost,  be  entitled,  upon  any exercise of such Participant's Stock
Option,  to  receive,  in  lieu  of  the number of shares as to which such Stock
Option  shall  then  be so exercised, the number and class of shares of stock or
other  securities  or  such  other property to which such Participant would have
been  entitled  to  pursuant  to  the  terms  of  the  agreement  of  merger  or
consolidation  or reorganization, if at the time of such merger or consolidation
or  reorganization,  such Participant had been a holder of record of a number of
shares  of  Common  Stock  equal  to the number of shares as to which such Stock
Option  shall  then  be  so  exercised.  Comparable  rights shall accrue to each
Participant  in  the  event  of  successive  mergers,  consolidations  or
reorganizations  of  the  character  described above. The Board may, in its sole
discretion,  provide  for similar adjustments upon the occurrence of such events
with  regard  to  other  outstanding  Awards  under  this  Plan.  The  foregoing
adjustments  and  the manner of application of the foregoing provisions shall be
determined  by the Board in its sole discretion. Any such adjustment may provide
for  the  elimination  of  any  fractional  shares  which might otherwise become
subject  to  an  Award.  All  adjustments made as the result of the foregoing in
respect  of  each  Incentive  Stock  Option shall be made so that such Incentive
Stock  Option  shall  continue  to  be  an Incentive Stock Option, as defined in
Section  422  of  the  Code.

ARTICLE  XI  --  AMENDMENT  AND  TERMINATION

11.1  Subject  to  the provisions of Section 11.2, the Board of Directors at any
time  and  from time to time may amend or terminate the Plan as may be necessary
or  desirable  to  implement or discontinue the Plan or any provision hereof. To
the  extent  required  by  the  Act  or the Code, however, no amendment, without
approval  by  the  Company's  shareholders,  shall:

(a)  materially  alter the group of persons eligible to participate in the Plan;

(b)  except  as  provided in Section 3.4, change the maximum aggregate number of
shares  of  Common  Stock  that  are  available  for  Awards  under  the  Plan;

(c) alter the class of individuals eligible to receive an Incentive Stock Option
or  increase the limit on Incentive Stock Options set forth in Section 4.1(d) or
the  value  of  shares  of  Common  Stock  for which an Eligible Employee may be
granted  an  Incentive  Stock  Option.

11.2  No  amendment  to or discontinuance of the Plan or any provision hereof by
the  Board  of  Directors  or the shareholders of the Company shall, without the
written  consent of the Participant, adversely affect (in the sole discretion of
the  Board)  any  Award theretofore granted to such Participant under this Plan;
provided,  however,  that  the  Board  retains  the  right  and  power  to:

(a)  annul any Award if the Participant is terminated for cause as determined by
the  Board;  and

<PAGE>

(b)  convert  any  outstanding  Incentive  Stock  Option to a Nonqualified Stock
Option.

11.3  If  a  Change  of  Control has occurred, no amendment or termination shall
impair the rights of any person with respect to an outstanding Award as provided
in  Article  X.

ARTICLE  XII  --  MISCELLANEOUS  PROVISIONS

12.1  Nothing  in  the Plan or any Award granted hereunder shall confer upon any
Participant any right to continue in the employ of the Company or its Affiliates
or  to  serve  as a Director or shall interfere in any way with the right of the
Company  or its Affiliates or the shareholders of the Company, as applicable, to
terminate  the employment of a Participant or to release or remove a Director at
any  time.  Unless  specifically  provided otherwise, no Award granted under the
Plan  shall  be  deemed  salary  or  compensation  for  the purpose of computing
benefits  under any employee benefit plan or other arrangement of the Company or
its  Affiliates for the benefit of their respective employees unless the Company
shall determine otherwise. No Participant shall have any claim to an Award until
it  is  actually granted under the Plan and an Award Agreement has been executed
and  delivered to the Company. To the extent that any person acquires a right to
receive  payments  from  the Company under the Plan, such right shall, except as
otherwise  provided  by  the Board, be no greater than the right of an unsecured
general creditor of the Company. All payments to be made hereunder shall be paid
from  the general funds of the Company, and no special or separate fund shall be
established and no segregation of assets shall be made to assure payment of such
amounts,  except as provided in Article VII with respect to Restricted Stock and
except  as  otherwise  provided  by  the  Board.

12.2 The Plan and the grant of Awards shall be subject to all applicable federal
and  state  laws, rules, and regulations and to such approvals by any government
or  regulatory  agency  as  may  be  required.  Any provision herein relating to
compliance with Rule 16b-3 under the Act shall not be applicable with respect to
participation  in  the Plan by Participants who are not subject to Section 16 of
the  Act.

12.3 The terms of the Plan shall be binding upon the Company, its successors and
assigns.

12.4  Neither  a  Stock  Option  nor any other type of equity-based compensation
provided  for  hereunder shall be transferable except as provided for in Section
6.2.  In  addition  to  the  transfer  restrictions  otherwise contained herein,
additional  transfer  restrictions shall apply to the extent required by federal
or  state securities laws. If any Participant makes such a transfer in violation
hereof,  any  obligation  hereunder  of  the  Company  to such Participant shall
terminate  immediately.

12.5  This Plan and all actions taken hereunder shall be governed by the laws of
the  State  of  Delaware.

12.6  Each  Participant  exercising  an Award hereunder agrees to give the Board
prompt  written  notice  of  any election made by such Participant under Section
83(b)  of  the  Code  or  any  similar  provision.

12.7  If  any  provision  of this Plan or an Award Agreement is or becomes or is
deemed  invalid,  illegal  or  unenforceable  in  any  jurisdiction,  or  would
disqualify  the  Plan  or any Award Agreement under any law deemed applicable by
the  Board,  such  provision  shall be construed or deemed amended to conform to
applicable  laws, or if it cannot be construed or deemed amended without, in the
determination  of  the  Board, materially altering the intent of the Plan or the
Award  Agreement,  it  shall  be  stricken, and the remainder of the Plan or the
Award  Agreement  shall  remain  in  full  force  and  effect.

12.8 The grant of an Award pursuant to this Plan shall not affect in any way the
right  or  power  of  the  Company or any of its Affiliates to make adjustments,
reclassification,  reorganizations,  or  changes  of  its  capital  or  business
structure,  or to merge or consolidate, or to dissolve, liquidate or sell, or to
transfer  all  or  part  of  its  business  or  assets.

12.9  The  Plan  is  not  subject  to the provisions of ERISA or qualified under
Section  401(a)  of  the  Code.

12.10  If a Participant is required to pay to the Company an amount with respect
to  income and employment tax withholding obligations in connection with (i) the
exercise  of  a  Nonqualified  Stock Option, (ii) certain dispositions of Common
Stock  acquired  upon  the  exercise  of an Incentive Stock Option, or (iii) the
receipt of Common Stock pursuant to any other Award, then the issuance of Common
Stock  to  such Participant shall not be made (or the transfer of shares by such
Participant  shall  not  be  required to be effected, as applicable) unless such
withholding  tax or other withholding liabilities shall have been satisfied in a
manner  acceptable  to  the  Company.  To the extent provided by the terms of an
Award  Agreement,  the  Participant  may satisfy any federal, state or local tax
withholding  obligation  relating to the exercise or acquisition of Common Stock
under an Award by any of the following means (in addition to the Company's right
to  withhold from any compensation paid to the Participant by the Company) or by
a  combination of such means: (i) tendering a cash payment; (ii) authorizing the
Company  to  withhold  shares  of  Common  Stock from the shares of Common Stock
otherwise issuable to the Participant as a result of the exercise or acquisition
of  Common  Stock  under  the Award, provided, however, that no shares of Common
Stock  are withheld with a value exceeding the minimum amount of tax required to
be  withheld  by  law; or (iii) delivering to the Company owned and unencumbered
shares  of  Common  Stock.

<PAGE>

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