Document:

AGREEMENT FOR
AUTHORIZED GENERIC AND
ACQUISITION OF DERMATOLOGY PRODUCTS  

        THIS
AGREEMENT is entered this 18th day of October, 2006 by and between River’s
Edge Pharmaceuticals LLC (“River’s Edge”) and Auriga Laboratories, Inc.
(“Auriga”). 

        WHEREAS
Auriga manufactures and distributes pharmaceutical products under the brand names
Extendryl® and LevallTM (the “Branded Products”). 

        WHEREAS
Rivers Edge desires to distribute a generic equivalent of the Branded Products and Auriga
desires to authorize the distribution by River’s Edge of generic equivalent products
all on the terms and conditions set before below. 

        For
and in consideration of the foregoing and the terms, conditions, and agreements set forth
below, the Parties agree as follows: 

	 	1.	Triggering
Event: Upon written notice by River’s Edge or Auriga to                the other
that a pharmaceutical product is being distributed or is planned to be
               distributed within the next 30 days in competition with any of the Branded
               Products, “Targeted Products”, River’s Edge shall commence
               marketing and distributing under River’s Edge’s label, a generic
               equivalent of the Targeted Product as the Generic authorized by Auriga
               (“Authorized Generic”). In marketing and distributing the
Authorized                Generic product or products, River’s Edge will not use a
tradename or                trademark confusingly similar to the Branded Products. 

	 	2.	Commissions:
At the commencement of the distribution by River’s Edge                of an
Authorized Generic of any of the Branded Products, River’s Edge shall
               receive 30% of the net sales as (“Net Sales”) defined below of
the                Authorized Generic as well as 30% of the Net Sales of the Targeted
Branded                Product for which an Authorized Generic is being distributed by
River’s                Edge. 

	 	a. 	River’s
Edge will provide all distribution services for the Authorized                Generic and
will invoice customers directly. River’s Edge will provide                Auriga
with a monthly accounting of all Authorized Generic sales seven (7) days
               after the end of the month.  

	 	b. 	The
parties may from time to time and at any time add other products to the
               definition of “Branded Products” for the purpose of this
Agreement,                such products to include all other products sold be Auriga that
are the subject                to or threatened by generic competition and for which
Rivers Edge provides or                helps employ a strategy to effectively eliminate
the generic competition or                threat, including but not limited to the
removal of the generic or threatened                generic from the Market.  

	 	
“Net
Sales” shall mean the gross amount received from unaffiliated third parties,
less cost of goods sold, less returns and less (i) customary quantity, trade and/or cash
discounts, chargebacks, returns, allowances, rebates (including any and all federal,
state or local government rebates, e.g. Medicaid rebates) and price adjustments allowed
or given; (ii) sales and other excise taxes and duties directly related to the sale, to
the extent such items are included in the gross invoice price; and (iii) royalties paid
to third parties.  

	 	3.	Additional
Products: On or before October 17, 2006, River’s Edge           shall present to
Auriga five single source dermatology pharmaceutical           formulations along with a
manufacturer acceptable to Auriga suitable for sale as           DESI brands, each of
which shall also be suitable for a Section 5.05(b)(2) NDA           (the “DERM
Product”). Auriga shall own the formulations and all           intellectual property
associated therewith after approval from FDA. Should           Auriga reject any
formulation for a DERM Product within seven (7) days of           presentation by River’s
Edge, River’s Edge shall within seven (7) days           of the rejection by Auriga
present additional formulations for DERM Products           until five (5) DERM Products
have been accepted by Auriga. Auriga shall have no           rights to any such DERM
Product rejected and shall not reveal any information           concerning the rejected
formulation. Each DERM Product shall be ready for           commercial launch by January
15, 2007. 

	 	a.	On
or before January 1st 2008 Auriga shall file at its own expense a
          Section 505(b)(2) NDA for each of the Derm Products and will seek pre-IND
          meetings for the Derm Products by June 30, 2007.  

	 	b.	On
or before March 15, 2007, Auriga shall have at least 30 sales representatives
          in the field who will have responsibility for sales and presales of the Derm
          Products. Auriga shall commence sales or presales activity for the Derm
Products           no later than January 15, 2007.  

	 	c.	Each
Derm Products shall be a Branded Product under the provisions of paragraphs           1
and 2 above.  

	 	d.	Auriga
will have naming rights and will own any and all trademarks associated           with the
DERM Products  

	 	e.	Auriga
may file patents relating to the DERM Products and will own all           inventions
relating therefrom.  

	 	f.	River’s
Edge shall receive 30% of Net Sales (as defined above) for all           sales of Derm
Products effective January 1, 2007 including any Authorized           Generic.  

	 	4.	Press
Release: The parties will issue a press release announcing the           relationship
promptly after signing. Auriga shall draft and provide the press           release to
River’s Edge for review and approval prior to releasing. In           addition,
except as compelled to be disclosed by judicial or administrative           process or by
other requirements of law, legal process, rule or regulation           (including to the
extent required in connection with any filings made by the           parties or their
controlling affiliates with the Securities and Exchange           Commission or FDA) all
public announcements regarding the relationship to third           parties, including
without limitation any disclosure regarding the transactions           contemplated
hereby, shall require the prior approval of both parties. 

2 

	 	5.	Payment:
All amounts due the Parties hereunder shall be paid quarterly           within 30 days of
the close of the calendar quarter. The Parties may agree on a           quarterly basis
to offset amounts payable and receivable and make payments on a           “net” basis
per quarter. 

	 	6.	No
Partnerships: Nothing contained herein shall create or be deemed to           create
a partnership or joint venture between the parties. 

	 	7.	Audit:
With respect to sales of products on which amounts are payable to           River’s
Edge hereunder, River’s Edge may (no more often than once in           each calendar
year) request an audit of Auriga’s books and records by a           third party
auditor mutually acceptable to Auriga and River’s Edge. For the           term of
this Agreement, plus three (3) years, Auriga shall keep full, true and           accurate
books of account sufficient to determine the amounts due hereunder to           River’s
Edge. If any such auditor determines that the amounts paid were           less than the
amounts actually due for the period in question, Auriga shall           promptly pay River’s
Edge the amount owed. If any such auditor determines           Auriga paid River’s
Edge amounts greater than the amounts actually due for           the period in question,
Auriga shall be entitled to deduct any such excess           amounts that have actually
been paid from amounts payable to River’s Edge           hereunder in the future. 

	 	8.	Term: The
term of this Agreement shall commence on date hereof and shall           terminate on
October 31, 2016. 

	 	9.	Time is
of the essence hereof. 

	 	10.	Entire
Agreement: This Agreement contains the entire agreement and           between the
parties hereto concerning the subject hereof. 

	ACCEPTED AND AGREED:	 
	
AURIGA LABORATORIES, INC	RIVER’S EDGE PHARMACEUTICALS LLC
	

By:  /s/ Philip S. Pesin	By:  /s/ Brendan J. Murphy
	        Philip S. Pesin	        Brendan J. Murphy
	        Chief Executive Officer	        President

 

3[AURIGA LABS LOGO] 

Via: Facsimile ((845)
326-5742) and U.S. First Class Mail 

October 18, 2006 

Mr.           Dino A. Rossi

President and Chief Executive Officer 
Balchem Corporation 
52           Sunrise Park Road

P.O. Box 600 
New Hampton, NY, 10958  

Re: Development Agreement
Termination  

Dear Mr. Rossi: 

Auriga hereby terminates our
development agreement effective immediately. 

Please return all confidential
information to my attention at the address indicated hereon. 

Very truly yours, 

/s/ Philip S. Pesin  
Philip S. Pesin

Chairman and Chief Executive OfficerAmended and
Restated
Snap-on Incorporated 
Directors’ 1993 Fee Plan
(as amended through August
3, 2006)  

        1.       Purpose.
The Amended and Restated Snap-on Incorporated Directors’          1993 Fee Plan (the
“Plan”) is intended to provide an incentive to           members of the Board
of Directors (the “Board”) of Snap-on           Incorporated, a Delaware
corporation (the “Company”), who are not           employees of the Company (“Directors”),
to remain in the service of           the Company and increase their efforts for the
success of the Company and to           encourage such Directors to own shares of the
Company’s stock or           participate in a Company phantom stock account, thereby
aligning their interests           more closely with the interests of stockholders.  

        2.       Definitions.  

            (a)       “Board” means
the Board of Directors of the Company.  

            (b)       “Committee” means
a committee consisting of members of the Board           authorized to administer the
Plan.  

            (c)       “Common
Stock” means the common stock, par value $1.00 per share, of           the Company.  

            (d)       “Deferral
Election” means an election pursuant to Section 6 hereof to           defer receipt
of Fees and/or shares of Common Stock which would otherwise be           received
pursuant to Elective Grants.  

            (e)       “Deferred
Amounts” mean the amounts credited to a Director’s           Share Account or
Cash Account pursuant to a Deferral Election.  

            (f)          “Director” means
a member of the Board or an appointed Director           Emeritus, who is not an employee
of the Company.  

            (g)       “Elective
Grants” shall have the meaning set forth in Section 5(a)           hereof.  

            (h)       “Exchange
Act” means the Securities Exchange Act of 1934, as amended.  

            (i)       “Fair
Market Value” means the closing price of the Common Stock on the           New York
Stock Exchange on any particular date; provided, however, that for           purposes of
Section 8, Fair Market Value shall mean the closing price of Common           Stock on
the New York Stock Exchange on the date of the Change of Control (as           defined
therein) or, if higher, the highest price per share of Common Stock paid           in the
transaction giving rise to the Change of Control.  

            (j)       “Fees” mean
the annual retainer scheduled to be paid to a Director for           the calendar year
plus any additional fees (including meeting and committee           fees) earned by a
Director for his or her services on the Board during the           calendar year.  

            (k)       “Grants” mean
Elective Grants.  

            (l)       “Share
Election” shall have the meaning set forth in Section 5(a)           hereof.  

        3.       Administration
of the Plan.  

            (a)       Member
of the Committee. The Plan shall be administered by the Committee.           Members of
the Committee shall be appointed from time to time by the Board,           shall serve at
the pleasure of the Board and may resign at any time upon written           notice to the
Board.  

            (b)       Authority
of the Committee. The Committee shall adopt such rules as it may deem
          appropriate in order to carry out the purpose of the Plan. All questions of
          interpretation, administration, and application of the Plan shall be determined
          by a majority of the members of the Committee then in office, except that the
          Committee may authorize any one or more of its members, or any officer of the
          Company, to execute and deliver documents on behalf of the Committee. The
          determination of such majority shall be final and binding in all matters
          relating to the Plan. No member of the Committee shall be liable for any act
          done or omitted to be done by such member or by any other member of the
          Committee in connection with the Plan, except for such member’s own
willful           misconduct or as expressly provided by statute.  

        4.       Stock
Reserved for the Plan. The number of shares of Common Stock           authorized for
issuance under the Plan is 300,000, subject to adjustment           pursuant to Section 7
hereof. Shares of Common Stock delivered hereunder may be           either authorized but
unissued shares or previously issued shares reacquired and           held by the Company.  

        5.       Terms
and Conditions of Grants.  

            (a)       Elective
Grant. Subject to Section 5(d) hereof, each Director may make an           election
(the “Share Election”) to receive (subject to a Deferral           Election)
any or all of his or her Fees earned in each calendar year in the form           of
Common Stock (the “Elective Grants”). The shares of Common Stock           (and
cash in lieu of fractional shares) issuable pursuant to a Share Election           shall
be transferred in accordance with Section 5(b) hereof. The Share Election           (i)
must be in writing and delivered to the Secretary of the Company, (ii) shall           be
effective commencing on the date the Secretary receives the Share Election or
          such later date as may be specified in the Share Election, and (iii) shall
          remain in effect unless modified or revoked by a subsequent Share Election in
          accordance with the provisions hereof.  

            (b)       Transfer
of Shares. Shares of Common Stock issuable to a Director with           respect
Elective Grants shall be transferred to such Director as of the last           business
day of each calendar month. The total number of shares of Common Stock           to be so
transferred shall be determined by dividing (a) the dollar amount of           the
Director’s Fees payable during the applicable calendar month to which           the
Share Election applies, by (b) the Fair Market Value of a share of Common           Stock
on the last business day of such calendar month. In no event, shall the           Company
be required to issue fractional shares. Whenever under the terms of this
          Section 5 a fractional share of Common Stock would otherwise be required to be
          issued to a Director, an amount in lieu thereof shall be paid in cash based
upon           the Fair Market Value of such fractional share.  

2 

            (c)       Termination
of Services. If a Director’s services as a Board member           are terminated
before the end of a calendar quarter, the Director shall receive           in cash the
Fees such Director would otherwise have been entitled to receive for           such
quarter in the absence of this Plan.  

            (d)       Commencement
of Grants. Notwithstanding anything in this Plan to the           contrary, no Grants
shall be effective with respect to Fees to be paid prior to           the requisite
approval of this Plan by the stockholders of the Company.  

        6.       Deferral
Election.  

            (a)       In
General. Each Director may irrevocably elect annually (a           “Deferral
Election”) to defer receiving all or a portion of the shares           of Common
Stock (that would otherwise be transferred upon a Grant) or such           Director’s
Fees in respect of a calendar year that are not subject to a           Grant. Deferral
Elections shall be made in multiples of ten percent. A Director           who makes a
Deferral Election with respect to Grants shall have the amount of           deferred
shares of Common Stock credited to a “Share Account” in the           form of
“Share Units.” A Director who makes a Deferral Election with           respect
to Fees that are not subject to a Grant shall have the amount of           Deferred Fees
credited to a “Cash Account.” Collectively, the amounts           deferred in a
Director’s Share Account and Cash Account shall hereafter be           the “Deferred
Amounts.” 

            (b)       Timing
of Deferral Election. The Deferral Election shall be in writing           and
delivered to the Secretary of the Company on or prior to December 31 of the
          calendar year immediately preceding the calendar year in which the applicable
          Fees are to be earned; provided, however, that a New Director may
          make a Deferral Election with respect to Fees earned subsequent to such
election           during the thirty-day period immediately following the commencement of
his or           her directorship. A Deferral Election, once made, shall be irrevocable
for the           calendar year with respect to which it is made and shall remain in
effect for           future calendar years unless modified or revoked by a subsequent
Deferral           Election in accordance with the provisions hereof. A Deferral Election
may be           changed only with respect to fees earned subsequent to the effective
date of           such Election; provided, however, that effective August 3, 2006,
Directors may           execute a new Deferral Election to change the payment
commencement date and/or           manner of payments for previously Deferred Amounts,
provided, that such Deferral           Election is: (i) in the case of a Deferral
Election to accelerate payments, made           prior to December 31, 2006 and provides
for payment no earlier than January 1,           2007; (ii) in the case of a Deferral
Election to postpone payment, postpones           payment of previously Deferred Amounts
for a period of five years or more from           when payment was previously scheduled
to occur, and (iii) any actions taken           pursuant to (i) or (ii) must be performed
in accordance with the provisions of           the American Jobs Creation Act and any
rules and regulations issued pursuant           thereto.  

            (c)       Cash
Dividends and Share Accounts. Whenever cash dividends are paid by           the
Company on outstanding Common Stock, there shall be credited to the           Director’s
Share Account additional Share Units equal to (i) the aggregate           dividend that
would be payable on outstanding Shares of Common Stock equal to           the number of
Share Units in such Share Account on the record date for the           dividend, divided
by (ii) the Fair Market Value of the Common Stock on the last           trading business
day immediately preceding the date of payment of the dividend.  

3 

            (d)       Cash
Accounts. At the election of a Director, a Director’s Cash           Account
shall be credited or debited with (i) interest at an annual rate equal           to the
sum of the daily interest earned at a rate specified by the Committee and
          compounded monthly or (ii) the annual investment return relating to such
          investment vehicle or vehicles that the Director chooses from those the
          Committee determines to make available, or such combination of (i) and (ii) as
          the Director designates at the time of a Deferral Election or a modification
          thereof.  

            (e)       Commencement
of Payments. Except as otherwise provided in Sections 6(h)           and 8(b), a
Director’s Deferred Amounts shall become payable as soon as           practicable
following the earlier to occur of (a) the date the Director           terminates service
as a Director or (b) the Director’s attainment of age 70           years or such
later date designated by the Director in the Deferral Election.  

            (f)       Form
of Payments. Subject to a Director’s right to convert a Share           Account
balance to a Cash Account, all payments from a Share Account shall be           made in
shares of Common Stock by converting Share Units into Common Stock on a
          one-for-one basis, with payment of fractional shares to be made in cash. All
          payments from a Cash Account shall be made in cash.  

            (g)       Manner
of Payments. In his or her Deferral Election, each Director shall           elect to
receive payment of his or her Deferred Amounts either in a lump sum or           in two
to fifteen substantially equal annual installments. In the event of a           Director’s
death, payment of the remaining portion of the Director’s           Deferred Amounts
will be made to the Director’s beneficiary in a lump sum           as soon as
practicable following the Director’s death.  

            (h)       Hardship
Distribution. Notwithstanding any Deferral Election, in the           event of severe
financial hardship to a Director resulting from a sudden and           unexpected
illness, accident or disability of the Director or other similar           extraordinary
and unforeseeable circumstances arising as a result of events           beyond the
control of the Director, all as determined by the Committee, a           Director may
withdraw any portion of the Share Units in his or her Share Account           or cash in
his or her Cash Account by providing written notice to the Secretary           of the
Company. All payments resulting from such a hardship shall be made in the           form
provided in Section 6(f) above.  

            (i)       Designation
of Beneficiary. Each Director or former Director entitled to           payment of
deferred amounts hereunder from time to time may designate any           beneficiary or
beneficiaries (who may be designated concurrently, contingently           or
successively) to whom any such deferred amounts are to be paid in case of the
          Director’s death before receipt of any or all of such deferred amounts.
          Each designation will revoke all prior designations by the Director or former
          Director, shall be in a form prescribed by the Company, and will be effective
          only when filed by the Director or former Director, during his or her lifetime,
          in writing with the Secretary of the Company. Reference in this Plan to a
          Director’s “beneficiary” at any date shall include such persons
          designated as concurrent beneficiaries on the Director’s beneficiary
          designation form then in effect. In the absence of any such designation, any
          balance remaining in a Director’s or former Director’s Share Account
          at the time of the Director’s death shall be paid to such Director’s
          estate in a lump sum.  

4 

            (j)       Account
Transfers. Subject to any applicable corporate policies, from           time to time
a Director may convert all or a portion of any Cash Account balance           of the
Director into deferred shares of Common Stock credited to the           Director’s
corresponding Share Account by written notice to the Company. In           such event,
and effective as of the date the Company receives such a notice, (i)           there
shall be credited to the Director’s Share Account a number of Share           Units
equal to the number of Share Units specified in the notice or, if such           notice
specifies a dollar amount, a number of Share Units equal to such dollar           amount
divided by the Fair Market Value on the last trading business day           immediately
preceding the date the Company receives such notice and (ii) the           Director’s
Cash Account shall be debited in an amount equal to the number           of Share Units
credited to the Share Account multiplied by the Fair Market Value           on the same
trading business day. Subject to any applicable corporate policies,           from time
to time a Director with a credit balance in a Share Account may           convert all or
a portion of such balance into an amount to be credited to the           Director’s
corresponding Cash Account by giving written notice to the           Company. In such
event, and effective as of the date the Company receives such a           notice, (i)
there shall be credited to the Director’s Cash Account an           amount equal to
the number of Share Units specified in the notice multiplied by           the Fair Market
Value on the last trading business day immediately preceding the           date the
Company receives such notice and (ii) the Director’s Share Account           shall
be debited by the number of Share Units specified in the notice.  

        7.       Changes
in Capitalization. In the event of any Change in Capitalization,           a
proportionate substitution or adjustment may be made in (i) the aggregate
          number and/or kind of shares or other property reserved for issuance under the
          Plan, (ii) the number and kind of shares or other property to be delivered
under           the Plan and (iii) the number and kind of shares or other property held
in each           Director’s Share Account, in each case as may be determined by the
          Committee in its sole discretion. Such other proportionate substitutions or
          adjustments may be made as shall be determined by the Committee in its sole
          discretion. “Change in Capitalization” means any increase, reduction,
          change or exchange of shares of Common Stock for a different number or kind of
          shares or other securities or property by reason of a reclassification,
          recapitalization, merger, consolidation, reorganization, issuance of warrants
or           rights, stock dividend, stock split or reverse stock split, combination or
          exchange of shares, repurchase of shares, change in corporate structure or
          otherwise; or any other corporate action, such as declaration of a special
          dividend, that affects the capitalization of the Company.  

        8.       Change
of Control.  

            (a)       For
purposes of this Plan, a “Change of Control” shall be deemed to           have
occurred on the first to occur of any one of the events set forth in the
          following paragraphs:  

5 

		    (1)              any
Person is or becomes the Beneficial Owner, directly or indirectly, of
          securities of the Company (not including in the securities Beneficially Owned
by           such Person any securities acquired directly from the Company or its
Affiliates)           representing 25% or more of either the then outstanding shares of
common stock           of the Company or the combined voting power of the Company’s
then           outstanding voting securities, excluding any Person who becomes such a
          Beneficial Owner in connection with a transaction described in clause (i) of
          paragraph (3) below; or  

		    (2)       the
following individuals cease for any reason to constitute a majority of the
          number of directors then serving: individuals who, on January 25, 2002,
          constitute the Board and any new director (other than a director whose initial
          assumption of office is in connection with an actual or threatened election
          contest, including but not limited to a consent solicitation, relating to the
          election of directors of the Company as such terms are used in Rule 14a-11 of
          Regulation 14A under the Exchange Act) whose appointment or election by the
          Board or nomination for election by the Company’s stockholders was
approved           or recommended by a vote of at least two-thirds (2/3) of the directors
then           still in office who either were directors on January 25, 2002 or whose
          appointment, election or nomination for election was previously so approved or
          recommended; or  

		    (3)       there
is consummated a merger or consolidation of the Company or any direct or
          indirect subsidiary of the Company with any other corporation, other than (i) a
          merger or consolidation which would result in the voting securities of the
          Company outstanding immediately prior to such merger or consolidation
continuing           to represent (either by remaining outstanding or by being converted
into voting           securities of the surviving entity or any parent thereof) at least
60% of the           combined voting power of the voting securities of the Company or
such surviving           entity or any parent thereof outstanding immediately after such
merger or           consolidation, or (ii) a merger or consolidation effected to
implement a           recapitalization of the Company (or similar transaction) in which
no Person is           or becomes the Beneficial Owner, directly or indirectly, of
securities of the           Company (not including in the securities Beneficially Owned
by such Person any           securities acquired directly from the Company or its
Affiliates) representing           25% or more of either the then outstanding shares of
common stock of the Company           or the combined voting power of the Company’s
then outstanding voting           securities; or  

		    (4)       the
stockholders of the Company approve a plan of complete liquidation or
          dissolution of the Company or there is consummated an agreement for the sale or
          disposition by the Company of all or substantially all of the Company’s
          assets (in one transaction or a series of related transactions within any
period           of 24 consecutive months), other than a sale or disposition by the
Company of           all or substantially all of the Company’s assets to an entity,
at least 75%           of the combined voting power of the voting securities of which are
owned by           stockholders of the Company in substantially the same proportions as
their           ownership of the Company immediately prior to such sale.  

6 

        Notwithstanding
the foregoing, no “Change of Control” shall be deemed to have occurred if there
is consummated any transaction or series of integrated transactions immediately following
which the record holders of the common stock of the Company immediately prior to such
transaction or series of transactions continue to have substantially the same
proportionate ownership in an entity which owns all or substantially all of the assets of
the Company immediately following such transaction or series of transactions. 

        For
purposes of the definition of Change of Control, “Affiliate” shall have the
meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange Act;
“Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the
Exchange Act; and “Person” shall have the meaning given in Section 3(a)(9) of
the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof, except that
such term shall not include (i) the Company or any of its subsidiaries, (ii) a trustee or
other fiduciary holding securities under an employee benefit plan of the Company or any of
its Affiliates, (iii) an underwriter temporarily holding securities pursuant to an
offering of such securities, (iv) a corporation owned, directly or indirectly, by the
shareholders of the Company in substantially the same proportions as their ownership of
stock of the Company or (v) any individual, entity or group which is permitted to, and
actually does, report its Beneficial Ownership on Schedule 13G (or any successor
schedule); provided that if any such individual, entity or group subsequently becomes
required to or does report its Beneficial Ownership on Schedule 13D (or any successor
schedule), such individual, entity or group shall be deemed to be a Person for purposes
hereof on the first date on which such individual, entity or group becomes required to or
does so report Beneficial Ownership of all of the voting securities of the Company
Beneficially Owned by it on such date. 

            (b)               Upon
the occurrence of a Change of Control, notwithstanding any provision of           this
Plan to the contrary,  

                (i)                 all
Share Units credited to a Share Account shall be converted into an amount           equal
to the number of Share Units multiplied by the Fair Market Value, which           amount
shall be (1) transferred as soon as possible to each Director and (B)
          denominated in (i) such form of consideration as the Director would have
          received had the Director been the owner of record of such shares of Common
          Stock at the time of such Change of Control, in the case of a “Change of
          Control With Consideration” or (2) cash, in the case of a “Change of
          Control Without Consideration”; and  

                (ii)                 fees
earned in respect of the calendar quarter in which the Change of Control
          occurs, together with all Deferred Amounts credited to a Cash Account, shall be
          transferred as soon as practicable in cash to each Director.  

        For
purposes of this Section 8, (I) “Change of Control With Consideration” shall
mean a Change of Control in which shares of Common Stock are exchanged or surrendered for
shares, cash or other property and (II) “Change of Control Without
Consideration” shall mean a Change of Control pursuant to which shares of Common
Stock are not exchanged or surrendered for shares, cash or other property. 

7 

        9.        Term
of Plan. This Plan shall become effective as of the date of approval           of the
Plan by the stockholders of the Company, and shall remain in effect until           a
Change of Control, unless sooner terminated by the Board; provided, however,
that, except as provided in Section 8(b) hereof, Deferred           Amounts may be
delivered pursuant to any Deferral Election, in accordance with           such election,
after the Plan’s termination. Prior to the effective date of           the Plan,
Directors may make the elections provided for herein, but the           effectiveness of
such elections shall be contingent upon the receipt of           stockholder approval of
the Plan. No transfer of shares of Common Stock may be           made to any Director or
any other person under the Plan until such time as           stockholder approval of the
Plan is obtained pursuant to this Section 9. In the           event stockholder approval
is not obtained, Fees that were not subject to           Deferral Elections shall be paid
to the Directors in cash and Fees that were           subject to Deferral Elections shall
be deferred pursuant to the Prior Plan.  

        10.       Amendment;
Termination. The Board or the Committee may at any time and           from time to
time alter, amend, suspend, or terminate the Plan in whole or in           part; provided,
however, that no amendment which requires           stockholder approval in order
for the exemptions available under Rule 16b-3 of           the Exchange Act, as amended
from time to time (“Rule 16b-3”), to be           applicable to the Plan and
the Directors shall be effective unless the same           shall be approved by the
stockholders of the Company entitled to vote thereon.           Notwithstanding the
foregoing, no amendment shall affect adversely any of the           rights of any
Director, without such Director’s consent, under any election           theretofore
in effect under the Plan.  

        11.
       Rights of Directors.  

            (a)
       Retention as Director. Nothing contained
in the Plan or with respect to           any Grant shall interfere with or limit in any
way the right of the stockholders           of the Company to remove any Director from
the Board pursuant to the bylaws of           the Company, nor confer upon any Director
any right to continue in the service           of the Company as a Director.  

            (b)
       Nontransferability. No right or interest
of any Director in Deferred           Amounts shall be assignable or transferable during
the lifetime of the Director,           either voluntarily or involuntarily, or subjected
to any lien, directly or           indirectly, by operation of law, or otherwise,
including execution, levy,           garnishment, attachment, pledge or bankruptcy. In
the event of a Director’s           death, a Director’s rights and interests in
his or her Deferred Amounts           shall be transferable by testamentary will or the
laws of descent and           distribution. If in the opinion of the Committee a person
entitled to payments           or to exercise rights with respect to the Plan is disabled
from caring for his           or her affairs because of mental condition, physical
condition or age, payment           due such person may be made to, and such rights shall
be exercised by, such           person’s guardian, conservator or other legal
personal representative upon           furnishing the Committee with evidence
satisfactory to the Committee of such           status.  

8 

        12.
       General Restrictions.  

            (a)
       Investment Representations. The Company
may require any director to whom           Common Stock is granted, as a condition of
receiving such Common Stock, to give           written assurances in substance and form
satisfactory to the Company and its           counsel to the effect that such person is
acquiring the Common Stock for his own           account for investment and not with any
present intention of selling or           otherwise distributing the same, and to such
other effects as the Company deems           necessary or appropriate in order to comply
with Federal and applicable state           securities laws.  

            (b)
       Compliance with Securities Laws. Each
Grant shall be subject to the           requirement that, if at any time counsel to the
Company shall determine that the           listing, registration or qualification of the
shares subject to such Grant upon           any securities exchange or under any state or
federal law, or the consent or           approval of any governmental or regulatory body,
is necessary as a condition of,           or in connection with, the issuance of shares
thereunder, such Grant may not be           accepted or exercised in whole or in part
unless such listing, registration,           qualification, consent or approval shall
have been effected or obtained on           conditions acceptable to the Committee.
Nothing herein shall be deemed to           require the Company to apply for or to obtain
such listing, registration or           qualification.  

        13.
       Withholding. The Company may defer
making payments under the Plan until           satisfactory arrangements have been made
for the payment of any federal, state           or local income taxes required to be
withheld with respect to such payment or           delivery. Each Director shall be
entitled to irrevocably elect to have the           Company withhold shares of Common
Stock having an aggregate value equal to the           amount required to be withheld.
The value of fractional shares remaining after           payment of the withholding taxes
shall be paid to the Director in cash. Shares           so withheld shall be valued at
Fair Market Value on the regular business day           immediately preceding the date
such shares would otherwise be transferred           hereunder.  

        14.
       Governing Law. This Plan and all rights
hereunder shall be construed in           accordance with and governed by the laws of the
State of Delaware.  

        15.
       Headings. The headings of sections and
subsections herein are included           solely for convenience of reference and shall
not affect the meaning of any of           the provisions of the Plan.  

9

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