Document:

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                                             Exhibit 4.1: Specimen Certificate

                                     [Front]

NUMBER                                      SHARES
[box for number]                            [box for shares]

This certificate is transferable in,        CUSIP: 43365Y 10 4
New York, NY                                See reverse for certain definitions

                      Hittite Microwave Corporation [logo]

              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

This certifies that

is the owner of

          FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, PAR
                            VALUE $.01 PER SHARE, OF

                          Hittite Microwave Corporation

(hereinafter the "Corporation"), transferable on the books of the Corporation by
the holder hereof in person or by duly authorized attorney upon surrender of
this certificate properly endorsed. This certificate is not valid until
countersigned and registered by the Transfer Agent and Registrar.

         Witness the facsimile seal of the Corporation and the facsimile
signatures of its duly authorized officers.

Dated:

<Table>
<S>                             <C>                                             <C>
[/s/ Stephen G. Daly]            [Hittite Microwave Corporation seal]             [/s/ William W. Boecke]
    PRESIDENT                                                                           TREASURER
</Table>

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COUNTERSIGNED AND REGISTERED:

American Stock Transfer & Trust Company
(New York, New York)

TRANSFER AGENT AND REGISTRAR

BY

[signature]

AUTHORIZED SIGNATURE

                                     [Back]

                          Hittite Microwave Corporation

         The Corporation is authorized to issue more than one class of stock.
The Corporation will furnish without charge to each stockholder who so requests
a statement of the powers, designations, preferences, and relative,
participating, optional or other special rights of each class of stock or series
thereof of the Corporation, and the qualifications, limitations or restrictions
of such preferences and/or rights.

         The following abbreviations, when used in the inscription on the face
of this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM - as tenants in common
TEN ENT - as tenants by the entireties
JT TEN  - as joint tenants with right of survivorship and not as tenants
          in common

UNIF GIFT MIN ACT - _______________(Cust) Custodian __________(Minor) under
Uniform Gifts to Minors Act_____ (State)

         Additional abbreviations may also be used though not in the above list.

For value received, _________________________________________hereby sell, assign
and transfer unto

PLEASE INSERT SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

[box for number]

_______________________________________________________________________________

Please print or typewrite name and address, including postal zip code, of
assignee

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________Shares

                                      -2-

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of the Common Stock represented by the within Certificate, and do hereby
irrevocably constitute

_______________________________________________________________________________
and appoint Attorney to transfer the said stock on the books of the within-named
Corporation

_______________________________________________________________________________
with full power of substitution in the premises.

Dated ________________________________________

                                               ________________________________

Signature(s) Guaranteed:

______________________________________________

THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS,
STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN
AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE
17AD-15.

KEEP THIS CERTIFICATE IN A SAFE PLACE, IF IT IS LOST, STOLEN, MUTILATED OR
DESTROYED, THE CORPORATION MAY REQUIRE A BOND OF INDEMNITY AS A CONDITION TO THE
ISSUANCE OF A REPLACEMENT CERTIFICATE.

NOTICE: The signature to this assignment must correspond with the name as
written upon the face of the Certificate, in every particular, without
alteration or enlargement, or any change whatsoever.

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                                                                    Exhibit 10.2

               AS ADJUSTED TO REFLECT A 1.874-FOR-1 STOCK SPLIT ON JUNE 29, 2005

                          HITTITE MICROWAVE CORPORATION

                            2005 STOCK INCENTIVE PLAN

SECTION 1. GENERAL PURPOSE OF THE PLAN; DEFINITIONS

     The purpose of this Hittite Microwave Corporation 2005 Stock Incentive Plan
(the "Plan") is to encourage and enable officers and employees of, and other
persons providing services to, Hittite Microwave Corporation (the "Company") and
its Affiliates to acquire a proprietary interest in the Company. It is
anticipated that providing such persons with a direct stake in the Company's
welfare will assure a closer identification of their interests with those of the
Company and its shareholders, thereby stimulating their efforts on the Company's
behalf and strengthening their desire to remain with the Company.

     The following terms shall be defined as set forth below:

     "Affiliate" means a parent corporation, if any, and each subsidiary
corporation of the Company, as those terms are defined in Section 424 of the
Code.

     "Award" or "Awards", except where referring to a particular category of
grant under the Plan, shall include Incentive Stock Options, Non-Statutory Stock
Options, Restricted Stock Awards, Unrestricted Stock Awards, Performance Share
Awards and Stock Appreciation Rights. Awards shall be evidenced by a written
agreement (which may be in electronic form and may be electronically
acknowledged and accepted by the recipient) containing such terms and conditions
not inconsistent with the provisions of this Plan as the Committee shall
determine.

     "Board" means the Board of Directors of the Company.

     "Cause" shall mean, with respect to any Award holder, a determination by
the Company (including the Board) or any Affiliate that the Holder's employment
or other relationship with the Company or any such Affiliate should be
terminated as a result of (i) a material breach by the Award holder of any
agreement to which the Award holder and the Company (or any such Affiliate) are
parties, (ii) any act (other than retirement) or omission to act by the Award
holder that may have a material and adverse effect on the business of the
Company, such Affiliate or any other Affiliate or on the Award holder's ability
to perform services for the Company or any such Affiliate, including, without
limitation, the proven or admitted commission of any crime (other than an
ordinary traffic violation), or (iii) any material misconduct or material
neglect of duties by the Award holder in connection with the business or affairs
of the Company or any such Affiliate.

     "Change of Control" shall have the meaning set forth in Section 15.

     "Code" means the Internal Revenue Code of 1986, as amended, and any
successor Code, and related rules, regulations and interpretations.

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     "Committee" shall have the meaning set forth in Section 2.

     "Disability" means disability as set forth in Section 22(e)(3) of the Code.

     "Effective Date" means the date on which the Plan is approved by the Board
of Directors as set forth in Section 17.

     "Eligible Person" shall have the meaning set forth in Section 4.

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

     "Fair Market Value" on any given date means the closing price per share of
the Stock on such date as reported by such registered national securities
exchange on which the Stock is listed, or, if the Stock is not listed on such an
exchange, as quoted on NASDAQ; provided, that, if there is no trading on such
date, Fair Market Value shall be deemed to be the closing price per share on the
last preceding date on which the Stock was traded. If the Stock is not listed on
any registered national securities exchange or quoted on NASDAQ, the Fair Market
Value of the Stock shall be determined in good faith by the Committee.

     "Incentive Stock Option" means any Stock Option designated and qualified as
an "incentive stock option" as defined in Section 422 of the Code.

     "Non-Employee Director" means any director who: (i) is not currently an
officer of the Company or an Affiliate, or otherwise currently employed by the
Company or an Affiliate, (ii) does not receive compensation, either directly or
indirectly, from the Company or an Affiliate, for services rendered as a
consultant or in any capacity other than as a director, except for an amount
that does not exceed the dollar amount for which disclosure would be required
pursuant to Rule 404(a) of Regulation S-K promulgated by the SEC, (iii) does not
possess an interest in any other transaction for which disclosure would be
required pursuant to Rule 404(a) of Regulation S-K, and (iv) is not engaged in a
business relationship for which disclosure would be required pursuant to Rule
404(b) of Regulation S-K.

     "Non-Statutory Stock Option" means any Stock Option that is not an
Incentive Stock Option.

     "Normal Retirement" means retirement in good standing from active
employment with the Company and its Affiliates in accordance with the retirement
policies of the Company and its Affiliates then in effect.

     "Option" or "Stock Option" means any option to purchase shares of Stock
granted pursuant to Section 5.

     "Outside Director" means any director who (i) is not an employee of the
Company or of any "affiliated group," as such term is defined in Section 1504(a)
of the Code, which includes the Company (an "Affiliated Group Member"), (ii) is
not a former employee of the Company or any Affiliated Group Member who is
receiving compensation for prior services (other than benefits under a
tax-qualified retirement plan) during the Company's or any Affiliated Group
Member's taxable year, (iii) has not been an officer of the Company or any
Affiliated Group Member and

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(iv) does not receive remuneration from the Company or any Affiliated Group
Member, either directly or indirectly, in any capacity other than as a director.
"Outside Director" shall be determined in accordance with Section 162(m) of the
Code and the Treasury regulations issued thereunder.

     "Performance Share Award" means an Award pursuant to Section 8.

     "Restricted Stock Award" means an Award granted pursuant to Section 6.

     "SEC" means the Securities and Exchange Commission or any successor
authority.

     "Stock" means the common stock, $.01 par value per share, of the Company,
subject to adjustments pursuant to Section 3.

     "Stock Appreciation Right" means an Award granted pursuant to Section 9.

     "Unrestricted Stock Award" means Awards granted pursuant to Section 7.

SECTION 2. ADMINISTRATION OF PLAN; COMMITTEE AUTHORITY TO SELECT PARTICIPANTS
           AND DETERMINE AWARDS.

     (a)   COMMITTEE. It is intended that the Plan shall be administered by the
Compensation Committee of the Board (the "Committee"), consisting of not less
than two (2) persons each of whom qualifies as an Outside Director and a
Non-Employee Director, but the authority and validity of any act taken or not
taken by the Committee shall not be affected if any person administering the
Plan is not an Outside Director or a Non-Employee Director. Except as
specifically reserved to the Board under the terms of the Plan, and subject to
any limitations set forth in the charter of the Committee, the Committee shall
have full and final authority to operate, manage and administer the Plan on
behalf of the Company.

     (b)   POWERS OF COMMITTEE. The Committee shall have the power and authority
to grant and modify Awards consistent with the terms of the Plan, including the
power and authority:

           (i)     to select the persons to whom Awards may from time to time be
granted;

           (ii)    to determine the time or times of grant, and the extent, if
any, of Incentive Stock Options, Non-Statutory Stock Options, Restricted Stock,
Unrestricted Stock, Performance Shares and Stock Appreciation Rights, or any
combination of the foregoing, granted to any one or more participants;

           (iii)   to determine the number of shares to be covered by any Award;

           (iv)    to determine and modify the terms and conditions, including
restrictions, not inconsistent with the terms of the Plan, of any Award, which
terms and conditions may differ among individual Awards and participants, and to
approve the form of written instruments evidencing the Awards; provided,
however, that no such action shall adversely affect rights under any outstanding
Award without the participant's consent;

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           (v)     to accelerate the exercisability or vesting of all or any
portion of any Award;

           (vi)    to extend the period in which any outstanding Stock Option or
Stock Appreciation Right may be exercised; and

           (vii)   to adopt, alter and repeal such rules, guidelines and
practices for administration of the Plan and for its own acts and proceedings as
it shall deem advisable; to interpret the terms and provisions of the Plan and
any Award (including related written instruments); to make all determinations it
deems advisable for the administration of the Plan; to decide all disputes
arising in connection with the Plan; and to otherwise supervise the
administration of the Plan.

     All decisions and interpretations of the Committee shall be binding on all
persons, including the Company and Plan participants. No member or former member
of the Committee or the Board shall be liable for any action or determination
made in good faith with respect to this Plan.

SECTION 3. SHARES ISSUABLE UNDER THE PLAN; MERGERS; SUBSTITUTION.

     (a)   SHARES ISSUABLE. The maximum number of shares of Stock which may be
issued in respect of Awards (including Stock Appreciation Rights) granted under
the Plan, subject to adjustment upon changes in capitalization of the Company as
provided in this Section 3, shall be 4,216,500 shares, which number shall
increase on each of the first five (5) anniversaries of the Effective Date of
this Plan by an amount equal to: (i) 468,500 shares or (ii) or such lesser
number of shares, including zero, as may be determined by the Board on or before
the occurrence of any such anniversary. Notwithstanding the foregoing, the
maximum cumulative number of shares of Stock with respect to which Awards may be
granted under the Plan is 6,559,000 shares, subject to adjustment upon changes
in capitalization of the Company as provided in this Section 3. For purposes of
this limitation, the shares of Stock underlying any Awards which are forfeited,
cancelled, reacquired by the Company or otherwise terminated (other than by
exercise), shares that are tendered in payment of the exercise price of any
Award and shares that are tendered or withheld for tax withholding obligations
shall be added back to the shares of Stock with respect to which Awards may be
granted under the Plan. Shares issued under the Plan may be authorized but
unissued shares or shares reacquired by the Company.

     (b)   LIMITATION ON AWARDS. In no event may any Plan participant be granted
Awards (including Stock Appreciation Rights) with respect to more than 468,500
shares of Stock in any calendar year. The number of shares of Stock relating to
an Award granted to a Plan participant in a calendar year that is subsequently
forfeited, cancelled or otherwise terminated shall continue to count toward the
foregoing limitation in such calendar year. In addition, if the exercise price
of an Award is subsequently reduced, the transaction shall be deemed a
cancellation of the original Award and the grant of a new one so that both
transactions shall count toward the maximum shares issuable in the calendar year
of each respective transaction.

     (c)   STOCK DIVIDENDS, MERGERS, ETC. In the event that after approval of
the Plan by the stockholders of the Company in accordance with Section 17, the
Company effects a stock

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dividend, stock split or similar change in capitalization affecting the Stock,
the Committee shall make appropriate adjustments in (i) the number and kind of
shares of stock or securities with respect to which Awards may thereafter be
granted (including without limitation the limitations set forth in Sections 3(a)
and (b) above), (ii) the number and kind of shares remaining subject to
outstanding Awards, and (iii) the option or purchase price in respect of such
shares. In the event of any merger, consolidation, dissolution or liquidation of
the Company, the Committee in its sole discretion may, as to any outstanding
Awards, make such substitution or adjustment in the aggregate number of shares
reserved for issuance under the Plan and in the number and purchase price (if
any) of shares subject to such Awards as it may determine and as may be
permitted by the terms of such transaction, or accelerate, amend or terminate
such Awards upon such terms and conditions as it shall provide (which, in the
case of the termination of the vested portion of any Award, shall require
payment or other consideration which the Committee deems equitable in the
circumstances), subject, however, to the provisions of Section 15.

     (d)   SUBSTITUTE AWARDS. The Committee may grant Awards under the Plan in
substitution for stock and stock based awards held by employees of another
corporation who concurrently become employees of the Company or an Affiliate as
the result of a merger or consolidation of the employing corporation with the
Company or an Affiliate or the acquisition by the Company or an Affiliate of
property or stock of the employing corporation. The Committee may direct that
the substitute awards be granted on such terms and conditions as the Committee
considers appropriate in the circumstances.

SECTION 4. ELIGIBILITY.

     Awards may be granted to officers, directors and employees of, and
consultants and advisers to, the Company or its Affiliates ("Eligible Persons").

SECTION 5. STOCK OPTIONS.

     The Committee may grant to Eligible Persons options to purchase stock.

     Any Stock Option granted under the Plan shall be in such form as the
Committee may from time to time approve.

     Stock Options granted under the Plan may be either Incentive Stock Options
(subject to compliance with applicable law) or Non-Statutory Stock Options.
Unless otherwise so designated, an Option shall be a Non-Statutory Stock Option.
To the extent that any option does not qualify as an Incentive Stock Option, it
shall constitute a Non-Statutory Stock Option.

     No Incentive Stock Option shall be granted under the Plan after the tenth
anniversary of the date of adoption of the Plan by the Board.

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     The Committee in its discretion may determine the effective date of Stock
Options, provided, however, that grants of Incentive Stock Options shall be made
only to persons who are, on the effective date of the grant, employees of the
Company or an Affiliate. Stock Options granted pursuant to this Section 5 shall
contain such additional terms and conditions, not inconsistent with the terms of
the Plan, as the Committee shall deem desirable.

     (a)   EXERCISE PRICE. The exercise price per share for the Stock covered by
a Stock Option granted pursuant to this Section 5 shall be determined by the
Committee at the time of grant but shall be not less than one hundred percent
(100%) of Fair Market Value on the date of grant. If an employee owns or is
deemed to own (by reason of the attribution rules applicable under Section
424(d) of the Code) more than ten percent (10%) of the combined voting power of
all classes of stock of the Company or any subsidiary or parent corporation and
an Incentive Stock Option is granted to such employee, the option price shall be
not less than one hundred ten percent (110%) of Fair Market Value on the date of
grant.

     (b)   OPTION TERM. The term of each Stock Option shall be fixed by the
Committee, but no Incentive Stock Option shall be exercisable more than ten (10)
years after the date the option is granted. If an employee owns or is deemed to
own (by reason of the attribution rules of Section 424(d) of the Code) more than
ten percent (10%) of the combined voting power of all classes of stock of the
Company or any subsidiary or parent corporation and an Incentive Stock Option is
granted to such employee, the term of such option shall be no more than five (5)
years from the date of grant.

     (c)   EXERCISABILITY; RIGHTS OF A SHAREHOLDER. Stock Options shall become
vested and exercisable at such time or times, whether or not in installments, as
shall be determined by the Committee. The Committee may at any time accelerate
the exercisability of all or any portion of any Stock Option. An optionee shall
have the rights of a shareholder only as to shares acquired upon the exercise of
a Stock Option and not as to unexercised Stock Options.

     (d)   METHOD OF EXERCISE. Stock Options may be exercised in whole or in
part, by delivering written notice of exercise to the Company, specifying the
number of shares to be purchased. Payment of the purchase price may be made by
delivery of cash or bank check or other instrument acceptable to the Committee
in an amount equal to the exercise price of such Options, or, to the extent
provided in the applicable Option Agreement, by one or more of the following
methods:

           (i)     by delivery to the Company of shares of Common Stock of the
Company having a fair market value equal in amount to the aggregate exercise
price of the Options being exercised; or

           (ii)    a personal recourse note issued by the optionee to the
Company in a principal amount equal to such aggregate exercise price and with
such other terms, including interest rate and maturity, as the Company may
determine in its discretion; PROVIDED, HOWEVER, that the interest rate borne by
such note shall not be less than the lowest applicable federal rate, as defined
in Section 1274(d) of the Code; or

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           (iii)   if the class of Common Stock is registered under the
Securities Exchange Act of 1934 at such time, by delivery to the Company of a
properly executed exercise notice along with irrevocable instructions to a
broker to deliver promptly to the Company cash or a check payable and acceptable
to the Company for the purchase price; provided that in the event that the
optionee chooses to pay the purchase price as so provided, the optionee and the
broker shall comply with such procedures and enter into such agreements of
indemnity and other agreements as the Committee shall prescribe as a condition
of such payment procedure (including, in the case of an optionee who is an
executive officer of the Company, such procedures and agreements as the
Committee deems appropriate in order to avoid any extension of credit in the
form of a personal loan to such officer). The Company need not act upon such
exercise notice until the Company receives full payment of the exercise price;
or

           (iv)    by reducing the number of Option shares otherwise issuable to
the optionee upon exercise of the Option by a number of shares of Common Stock
having a fair market value equal to such aggregate exercise price of the Options
being exercised; or

           (v)     by any combination of such methods of payment.

     The delivery of certificates representing shares of Stock to be purchased
pursuant to the exercise of a Stock Option will be contingent upon receipt from
the Optionee (or a purchaser acting in his stead in accordance with the
provisions of the Stock Option) by the Company of the full purchase price for
such shares and the fulfillment of any other requirements contained in the Stock
Option or imposed by applicable law.

     (e)   NON-TRANSFERABILITY OF OPTIONS. Except as the Committee may provide
with respect to a Non-Statutory Stock Option, no Stock Option shall be
transferable other than by will or by the laws of descent and distribution and
all Stock Options shall be exercisable, during the optionee's lifetime, only by
the optionee.

     (f)   ANNUAL LIMIT ON INCENTIVE STOCK OPTIONS. To the extent required for
"incentive stock option" treatment under Section 422 of the Code, the aggregate
Fair Market Value (determined as of the time of grant) of the Stock with respect
to which Incentive Stock Options granted under this Plan and any other plan of
the Company or its Affiliates become exercisable for the first time by an
optionee during any calendar year shall not exceed $100,000.

SECTION 6. RESTRICTED STOCK AWARDS.

     (a)   NATURE OF RESTRICTED STOCK AWARD. The Committee in its discretion may
grant Restricted Stock Awards to any Eligible Person, entitling the recipient to
acquire, for such purchase price, if any, as may be determined by the Committee,
shares of Stock subject to such restrictions and conditions as the Committee may
determine at the time of grant ("Restricted Stock"), including continued
employment and/or achievement of pre-established performance goals and
objectives.

     (b)   ACCEPTANCE OF AWARD. A participant who is granted a Restricted Stock
Award shall have no rights with respect to such Award unless the participant
shall have accepted the Award within sixty (60) days (or such shorter date as
the Committee may specify) following the award date by making payment to the
Company of the specified purchase price, if any, of the

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shares covered by the Award and by executing and delivering to the Company a
written instrument that sets forth the terms and conditions applicable to the
Restricted Stock in such form as the Committee shall determine.

     (c)   RIGHTS AS A SHAREHOLDER. Upon complying with Section 6(b) above, a
participant shall have all the rights of a shareholder with respect to the
Restricted Stock, including voting and dividend rights, subject to
non-transferability restrictions and Company repurchase or forfeiture rights
described in this Section 6 and subject to such other conditions contained in
the written instrument evidencing the Restricted Award. Unless the Committee
shall otherwise determine, certificates evidencing shares of Restricted Stock
shall remain in the possession of the Company until such shares are vested as
provided in Section 6(e) below.

     (d)   RESTRICTIONS. Shares of Restricted Stock may not be sold, assigned,
transferred, pledged or otherwise encumbered or disposed of except as
specifically provided herein. In the event of termination of employment by the
Company and its Affiliates for any reason (including death, Disability, Normal
Retirement and for Cause), any shares of Restricted Stock which have not then
vested shall automatically be forfeited to the Company.

     (e)   VESTING OF RESTRICTED STOCK. The Committee at the time of grant shall
specify the date or dates and/or the attainment of pre-established performance
goals, objectives and other conditions on which the non-transferability of the
Restricted Stock and the Company's right of forfeiture shall lapse. Subsequent
to such date or dates and/or the attainment of such pre-established performance
goals, objectives and other conditions, the shares on which all restrictions
have lapsed shall no longer be Restricted Stock and shall be deemed "vested."
The Committee at any time may accelerate such date or dates and otherwise waive
or, subject to Section 13, amend any conditions of the Award.

     (f)   WAIVER, DEFERRAL AND REINVESTMENT OF DIVIDENDS. The written
instrument evidencing the Restricted Stock Award may require or permit the
immediate payment, waiver, deferral or investment of dividends paid on the
Restricted Stock..

     (g)   AUTOMATIC GRANTS TO NON-EMPLOYEE DIRECTORS. Restricted Stock Awards
shall automatically be granted to all Non-Employee Directors as follows:

           (i)     Each Non-Employee Director joining the Board after the
effective date of the registration statement for the Company's initial public
offering of the Stock (the "IPO Effective Date") shall be granted, on the later
to occur of such Non-Employee Director's date of election to the Board or the
IPO Effective Date, a Restricted Stock Award of that number of shares Stock as
is equal to $20,000 divided by the Fair Market Value of the Stock on the date of
the award;

           (ii)    Following the IPO Effective Date, each Non-Employee Director
continuing in office after any annual meeting of stockholders of the Company
shall be granted, immediately following the conclusion of such meeting:

                   (A)   a Restricted Stock Award of that number of shares of
Stock as is equal to $20,000 divided by the Fair Market Value of the Stock on
the date of the award; and

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                   (B)   if such Non-Employee Director is the chairperson of any
committee of the Board, an additional Restricted Stock Award of that number of
shares of Stock as is equal to $5,000 divided by the Fair Market Value of the
Stock on the date of the award; and

           (iii)   Each Restricted Stock Award granted pursuant to this
paragraph (g) shall provide for vesting over a five-year period, with one-third
of the shares vesting on the third anniversary of the date of the award and the
balance of the shares vesting on the fifth anniversary of the date of the award,
and shall provide that the Stock subject to the award may not be sold or
otherwise transferred prior to the fifth anniversary of the date of the award.

SECTION 7. UNRESTRICTED STOCK AWARDS.

     (a)   GRANT OR SALE OF UNRESTRICTED STOCK. The Committee in its discretion
may grant or sell to any Eligible Person shares of Stock free of any
restrictions under the Plan ("Unrestricted Stock") at a purchase price
determined by the Committee. Shares of Unrestricted Stock may be granted or sold
as described in the preceding sentence in respect of past services or other
valid consideration.

     (b)   RESTRICTIONS ON TRANSFERS. The right to receive unrestricted Stock
may not be sold, assigned, transferred, pledged or otherwise encumbered, other
than by will or the laws of descent and distribution.

SECTION 8. PERFORMANCE SHARE AWARDS.

     A Performance Share Award is an award entitling the recipient to acquire
shares of Stock upon the attainment of specified performance goals. The
Committee may make Performance Share Awards independent of or in connection with
the granting of any other Award under the Plan. Performance Share Awards may be
granted under the Plan to any Eligible Person. The Committee in its discretion
shall determine whether and to whom Performance Share Awards shall be made, the
performance goals applicable under each such Award (which may include, without
limitation, continued employment by the recipient or a specified achievement by
the recipient, the Company or any business unit of the Company), the periods
during which performance is to be measured, and all other limitations and
conditions applicable to the Award or the Stock issuable thereunder. Upon the
attainment of the specified performance goal shares of Stock shall be issued
pursuant to the Performance Share Award as soon as practicable thereafter, but
in no event later than two and one-half months after the calendar year in which
such performance goal is attained.

SECTION 9. STOCK APPRECIATION RIGHTS.

     The Committee in its discretion may grant Stock Appreciation Rights to any
Eligible Person. A Stock Appreciation Right shall entitle the participant upon
exercise thereof to receive from the Company, upon written request to the
Company at its principal offices (the "Request"), a number of shares of Stock
having an aggregate Fair Market Value equal to the product of (a) the excess of
Fair Market Value, on the date of such Request, over the exercise price per
share of Stock specified in such Stock Appreciation Right (which exercise price
shall be not less than one hundred percent (100%) of Fair Market Value on the
date of grant), multiplied by (b) the number of shares of Stock for which such
Stock Appreciation Right shall be exercised. Notwithstanding

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the foregoing, any Stock Appreciation Right may be granted hereunder only so
long as the shares of Stock of the Company subject to the Stock Appreciation
Right are traded on an established securities market.

SECTION 10. TERMINATION OF STOCK OPTIONS AND STOCK APPRECIATION RIGHTS.

     (a)   INCENTIVE STOCK OPTIONS:

           (i)     TERMINATION BY DEATH. If any participant's employment by the
Company and its Affiliates terminates by reason of death, any Incentive Stock
Option owned by such participant may thereafter be exercised to the extent
exercisable at the date of death, by the legal representative or legatee of the
participant, for a period of one hundred eighty (180) days (or such longer
period as the Committee shall specify at any time) from the date of death, or
until the expiration of the stated term of the Incentive Stock Option, if
earlier.

           (ii)    TERMINATION BY REASON OF DISABILITY OR NORMAL RETIREMENT.

           (A)     Any Incentive Stock Option held by a participant whose
employment by the Company and its Affiliates has terminated by reason of
Disability may thereafter be exercised, to the extent it was exercisable at the
time of such termination, for a period of ninety (90) days (or such longer
period as the Committee shall specify at any time) from the date of such
termination of employment, or until the expiration of the stated term of the
Option, if earlier.

           (B)     Any Incentive Stock Option held by a participant whose
employment by the Company and its Affiliates has terminated by reason of Normal
Retirement may thereafter be exercised, to the extent it was exercisable at the
time of such termination, for a period of ninety (90) days (or such longer
period as the Committee shall specify at any time) from the date of such
termination of employment, or until the expiration of the stated term of the
Option, if earlier.

           (C)     The Committee shall have sole authority and discretion to
determine whether a participant's employment has been terminated by reason of
Disability or Normal Retirement.

           (iii)   TERMINATION FOR CAUSE. If any participant's employment by the
Company and its Affiliates has been terminated for Cause, as determined by the
Committee in its sole discretion, any Incentive Stock Option held by such
participant shall immediately terminate and be of no further force and effect.

           (iv)    OTHER TERMINATION. Unless otherwise determined by the
Committee, if a participant's employment by the Company and its Affiliates
terminates for any reason other than death, Disability, Normal Retirement or for
Cause, any Incentive Stock Option held by such participant may thereafter be
exercised, to the extent it was exercisable on the date of termination of
employment, for thirty (30) days (or such other period as the Committee shall
specify) from the date of termination of employment or until the expiration of
the stated term of the Option, if earlier.

                                       10
<Page>

     (b)   NON-STATUTORY STOCK OPTIONS AND STOCK APPRECIATION RIGHTS. Any
Non-Statutory Stock Option or Stock Appreciation Right granted under the Plan
shall contain such terms and conditions with respect to its termination as the
Committee, in its discretion, may from time to time determine.

SECTION 11. TAX WITHHOLDING AND NOTICE.

     (a)   PAYMENT BY PARTICIPANT. Each participant shall, no later than the
date as of which the value of an Award or of any Stock or other amounts received
thereunder first becomes includable in the gross income of the participant for
Federal income tax purposes, pay to the Company, or make arrangements
satisfactory to the Committee regarding payment of any Federal, state, local
and/or payroll taxes of any kind required by law to be withheld with respect to
such income. The Company and its Affiliates shall, to the extent permitted by
law, have the right to deduct any such taxes from any payment of any kind
otherwise due to the participant.

     (b)   PAYMENT IN SHARES. A Participant may elect, with the consent of the
Committee, to have such tax withholding obligation satisfied, in whole or in
part, by (i) authorizing the Company to withhold from shares of Stock to be
issued pursuant to an Award a number of shares with an aggregate Fair Market
Value (as of the date the withholding is effected) that would satisfy the
withholding amount due with respect to such Award, or (ii) delivering to the
Company a number of shares of Stock with an aggregate Fair Market Value (as of
the date the withholding is effected) that would satisfy the withholding amount
due.

     (c)   NOTICE OF DISQUALIFYING DISPOSITION. Each holder of an Incentive
Option shall agree to notify the Company in writing immediately after making a
disqualifying disposition (as defined in Section 421(b) of the Code) of any
Stock purchased upon exercise of an Incentive Stock Option.

SECTION 12. TRANSFER AND LEAVE OF ABSENCE.

     For purposes of the Plan, the following events shall not be deemed a
termination of employment:

     (a)   a transfer to the employment of the Company from an Affiliate or from
the Company to an Affiliate, or from one Affiliate to another;

     (b)   an approved leave of absence for military service or sickness, or for
any other purpose approved by the Company, if the employee's right to
re-employment is guaranteed either by a statute or by contract or under the
policy pursuant to which the leave of absence was granted or if the Committee
otherwise so provides in writing; provided, that the vesting date or dates of
any unvested Award held by such employee shall automatically be extended by a
period of time equal to the period of such approved leave of absence.

SECTION 13. AMENDMENTS AND TERMINATION.

     The Board may at any time amend or discontinue the Plan and the Committee
may at any time amend or cancel any outstanding Award for the purpose of
satisfying changes in law or for any other lawful purpose, but no such action
shall adversely affect rights under any outstanding

                                       11
<Page>

Award without the holder's consent. Notwithstanding the foregoing, neither the
Board nor the Committee shall have the power or authority to decrease the
exercise price of any outstanding Stock Option or Stock Appreciation Right,
whether through amendment, cancellation and regrant, exchange or any other
means, except for changes made pursuant to Section 3(c).

This Plan shall terminate as of the tenth anniversary of its effective date. The
Board may terminate this Plan at any earlier time for any reason. No Award may
be granted after the Plan has been terminated. No Award granted while this Plan
is in effect shall be altered or impaired by termination of this Plan, except
upon the consent of the holder of such Award. The power of the Committee to
construe and interpret this Plan and the Awards granted prior to the termination
of this Plan shall continue after such termination.

SECTION 14. STATUS OF PLAN.

     With respect to the portion of any Award which has not been exercised and
any payments in cash, Stock or other consideration not received by a
participant, a participant shall have no rights greater than those of a general
creditor of the Company unless the Committee shall otherwise expressly determine
in connection with any Award or Awards. In its sole discretion, the Committee
may authorize the creation of trusts or other arrangements to meet the Company's
obligations to deliver Stock or make payments with respect to Awards hereunder,
provided that the existence of such trusts or other arrangements is consistent
with the provision of the foregoing sentence.

SECTION 15. CHANGE OF CONTROL PROVISIONS.

     (a)   Upon the occurrence of a Change of Control as defined in this Section
15:

           (i)     subject to the provisions of clause (iii) below, after the
effective date of such Change of Control, each holder of an outstanding Stock
Option, Restricted Stock Award, Performance Share Award or Stock Appreciation
Right shall be entitled, upon exercise of such Award, to receive, in lieu of
shares of Stock (or consideration based upon the Fair Market Value of Stock),
shares of such stock or other securities, cash or property (or consideration
based upon shares of such stock or other securities, cash or property) as the
holders of shares of Stock received in connection with the Change of Control;

           (ii)    the Committee may accelerate, fully or in part, the time for
exercise of, and waive any or all conditions and restrictions on, each
unexercised and unexpired Stock Option, Restricted Stock Award, Performance
Share Award and Stock Appreciation Right, effective upon a date prior or
subsequent to the effective date of such Change of Control, as specified by the
Committee; or

           (iii)   each outstanding Stock Option, Restricted Stock Award,
Performance Share Award and Stock Appreciation Right may be cancelled by the
Committee as of the effective date of any such Change of Control provided that
(x) prior written notice of such cancellation shall be given to each holder of
such an Award and (y) each holder of such an Award shall have the right to
exercise such Award to the extent that the same is then exercisable or, in full,
if the Committee shall have accelerated the time for exercise of all such
unexercised

                                       12
<Page>

and unexpired Awards, during the thirty (30) day period preceding the effective
date of such Change of Control.

     (b)   "Change of Control" shall mean the occurrence of any one of the
following events:

           (i)     any "person" (as such term is used in Sections 13(d) and
14(d)(2) of the Exchange Act) becomes, after the Effective Date of this Plan, a
"beneficial owner" (as such term is defined in Rule 13d-3 promulgated under the
Exchange Act) (other than the Company, any trustee or other fiduciary holding
securities under an employee benefit plan of the Company, or any corporation
owned, directly or indirectly, by the stockholders of the Company in
substantially the same proportions as their ownership of stock of the Company),
directly or indirectly, of securities of the Company representing fifty percent
(50%) or more of the combined voting power of the Company's then outstanding
securities; or

           (ii)    the stockholders of the Company approve a merger or
consolidation of the Company with any other corporation or other entity, other
than a merger or consolidation which would result in the voting securities of
the Company outstanding immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into voting securities of
the surviving entity) more than fifty percent (50%) of the combined voting power
of the voting securities of the Company or such surviving entity outstanding
immediately after such merger or consolidation; or

           (iii)   the stockholders of the Company approve a plan of complete
liquidation of the Company or an agreement for the sale or disposition by the
Company of all or substantially all of the Company's assets.

SECTION 16. GENERAL PROVISIONS.

     (a)   NO DISTRIBUTION; COMPLIANCE WITH LEGAL REQUIREMENTS. The Committee
may require each person acquiring shares pursuant to an Award to represent to
and agree with the Company in writing that such person is acquiring the shares
without a view to distribution thereof.

     No shares of Stock shall be issued pursuant to an Award until all
applicable securities laws and other legal and stock exchange requirements have
been satisfied. The Committee may require the placing of such stop orders and
restrictive legends on certificates for Stock and Awards as it deems
appropriate.

     (b)   DELIVERY OF STOCK CERTIFICATES. Delivery of stock certificates to
participants under this Plan shall be deemed effected for all purposes when the
Company or a stock transfer agent of the Company shall have delivered such
certificates in the United States mail, addressed to the participant, at the
participant's last known address on file with the Company.

     (c)   OTHER COMPENSATION ARRANGEMENTS; NO EMPLOYMENT RIGHTS. Nothing
contained in this Plan shall prevent the Board from adopting other or additional
compensation arrangements, including trusts, subject to stockholder approval if
such approval is required; and such arrangements may be either generally
applicable or applicable only in specific cases. The

                                       13
<Page>

adoption of the Plan or any Award under the Plan does not confer upon any
employee any right to continued employment with the Company or any Affiliate.

     (d)   LOCK-UP AGREEMENT. By accepting any Award, the recipient shall be
deemed to have agreed that, if so requested by the Company or by the
underwriters managing any underwritten offering of the Company's securities, the
recipient will not, without the prior written consent of the Company or such
underwriters, as the case may be, sell, make any short sale of, loan, grant any
option for the purchase of, or otherwise dispose of any shares subject to any
such Award during the Lock-up Period, as defined below. The "Lock-Up Period"
shall mean a period of time not exceeding 180 days or, if greater, such number
of days as shall have been agreed to by each director and executive officer of
the Company in connection with such offering in a substantially similar lock-up
agreement by which each such director and executive officer is bound. If
requested by the Company or such underwriters, the recipient shall enter into an
agreement with such underwriters consistent with the foregoing.

     SECTION 17. EFFECTIVE DATE OF PLAN.

     This Plan shall become effective upon its adoption by the Company's Board
of Directors. If the Plan shall not be approved by the shareholders of the
Company within twelve months following its adoption, this Plan shall terminate
and be of no further force or effect.

SECTION 18. GOVERNING LAW.

     This Plan shall be governed by, and construed and enforced in accordance
with, the substantive laws of the State of Delaware without regard to its
principles of conflicts of laws.

                                      * * *

                                       14

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