Document:

Exhibit 10.5

                                                                  Execution Copy

                      SUBORDINATED SECURED PROMISSORY NOTE

$57,500.00                                                          May 1, 2003

                  FOR VALUE RECEIVED, the undersigned ALLION HEALTHCARE, INC., a
Delaware corporation (the "BORROWER"), promises to pay to ALLAN H. PETERSON (the
"HOLDER"), the principal sum of FIFTY-SEVEN THOUSAND FIVE HUNDRED DOLLARS
($57,500.00), plus accrued interest from the date hereof, at a rate equal to the
Prime Rate, as published in the Eastern Edition of The Wall Street Journal plus
two percent (2%) per annum (the "INTEREST Rate"), on the unpaid principal amount
outstanding hereunder from time to time. The Interest Rate shall be reset on
each Payment Date (as defined below) and shall apply for the following payment
period. Payments of principal and interest shall be made in lawful money of the
United States of America, to the address of record of the Holder as set forth
herein, or at such place as the Holder may designate in writing. This
Subordinated Secured Promissory Note (this "NOTE") is issued in connection with
that certain Stock Purchase Agreement (as modified and amended from time to
time, the "PURCHASE AGREEMENT"), of even date herewith, by and among the
Borrower, the Holder, and Darin A. Peterson. The obligations of the Borrower
under this Note are secured by certain assets of Borrower as set forth in that
certain Subordinated Security Agreement (as modified and supplemented from time
to time, the "SECURITY AGREEMENT"), of even date herewith, by and among the
Borrower, Darin A. Peterson, the Holder and Darin A. Peterson, as collateral
agent. Capitalized terms used and not otherwise defined herein shall have the
same meanings ascribed to them in the Security Agreement. In the event of a
conflict between the terms hereof and the terms of the Security Agreement, the
terms of the Security Agreement shall prevail.

                  Subject to Section 6(g) hereof, principal and interest on this
Note shall be due and payable as follows:

                  (i)      The entire unpaid balance of the principal shall be
                           due and payable on the date that is one (1) year from
                           the date hereof (the "MATURITY DATE");

                  (ii)     Beginning on the date hereof until the Maturity Date,
                           interest on the outstanding principal amount shall be
                           due and payable in arrears on a quarterly basis on
                           each of June 30, 2003, September 30, 2003, December
                           31, 2003, and March 31, 2004 (each a "PAYMENT DATE").
                           All computations of interest payable hereunder shall
                           be on the basis of a 365-day year and actual days
                           elapsed in the period of which such interest is
                           payable; and

                  (iii)    In the event that prior to the Maturity Date,
                           Borrower engages in (a) any underwritten public
                           offering of any shares of Borrower's capital stock
                           resulting in aggregate proceeds to Borrower in excess
                           of $25 million or (b) a Borrower Acquisition
                           Transaction, as herein defined, shall have occurred,
                           all outstanding payments due under this Note shall
                           become due and payable within thirty (30) calendar
                           days of the consummation of such underwritten public
                           offering or Borrower Acquisition Transaction, as the
                           case may be (an "EARLY MATURITY DATE"). For purposes
                           of this Note, "BORROWER ACQUISITION TRANSACTION"
                           shall mean (x) any sale, lease, exchange, transfer or
                           other disposition of the assets of Borrower or any
                           subsidiary of Borrower constituting more than fifty
                           percent (50%) of the consolidated assets of Borrower
                           or accounting for more than fifty percent (50%) of

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                           the consolidated revenues of Borrower in any one
                           transaction or in a series of related transactions,
                           or (y) any offer to purchase, tender offer, exchange
                           offer or any similar transaction or series of related
                           transactions made by any person or entity involving
                           more than fifty (50%) of the outstanding shares of
                           the capital stock of the Borrower or (z) any merger,
                           consolidation or similar transaction to which
                           Borrower is a party, other than (a) any merger
                           effected solely to implement a recapitalization of
                           the Borrower in which no person acquires more than
                           50% of the combined voting power of the Borrower's
                           then outstanding securities, or (b) any merger,
                           consolidation or similar transaction between or among
                           the Borrower and any of its then wholly-owned
                           subsidiaries.

                  (iv)     In the event that any indemnification claim by the
                           Borrower pursuant to the terms and conditions of the
                           Purchase Agreement is pending at the time of the
                           Early Maturity Date or the Maturity Date, the lesser
                           of (a) the amount of such claim and (b) the sum of
                           the outstanding principal and all accrued but unpaid
                           interest on this Note, shall be placed in a third
                           party escrow account mutually acceptable to Borrower
                           and Holder until the time that such pending claim is
                           resolved.

                  1. DEFAULT. In the case of the occurrence of one or more of
the following events (each, a "DEFAULT"): (i) the Borrower fails to make when
due any payment of principal or interest hereunder and such default is not cured
within five (5) calendar days; (ii) the Borrower becomes insolvent or generally
fails to pay, or admits in writing its inability to pay, any of its debts as
they become due; (iii) the Borrower applies for a trustee, receiver or other
custodian for it or a substantial part of its property; (iv) a trustee, receiver
or other custodian is appointed for the Borrower or for a substantial part of
its property; (v) any bankruptcy, reorganization, debt arrangement, or other
case or proceeding is commenced in respect of the Borrower; (vi) any
representation or warranty made by the Borrower in the Security Agreement or in
any certificate, financial statement or other document furnished pursuant
thereto shall prove to have been materially incorrect when made or (vii) (A)
Borrower breaches any of the covenants set forth in Sections 6(d) through (g),
inclusive, or Section 9 of the Security Agreement, (B) any default in the
observance or performance of any of the other conditions, covenants or
agreements of Borrower set forth herein or in the Security Agreement (other than
as set forth above), and continuance thereof for a period of ten (10) calendar
days after the Collateral Agent delivers written notice of such default to
Borrower (or such other cure period which may otherwise be applicable); or
(viii) any default in any agreement between Borrower and a third party that
gives the third party the right to accelerate the payment of $100,000 or more of
any indebtedness owed to the third party under such agreement, unless disputed
in good faith; then, upon the occurrence of any such event, all unpaid
principal, accrued interest and other amounts owing hereunder shall, at the
option of the Holder, and in the case of an event of default pursuant to (ii)
through (v) above, automatically, be immediately due, payable, and collectible
by Holder pursuant to applicable law. Failure to exercise this option shall not
constitute a waiver of the right to exercise the same at any other time.

                                      -2-

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                  2. DEFAULT INTEREST. Upon the occurrence and the continuance
of a Default, any amount of principal not paid before the due date shall accrue
interest at a rate per annum equal to the Interest Rate plus five percent (5%)
per annum.

                  3. WAIVER. Borrower hereby waives, to the fullest extent
permitted by applicable law, notice, demands, notice of nonpayment, presentment,
protest and notice of dishonor.

                  4. ENFORCEMENT. Upon the occurrence of a Default, the Holder
may employ an attorney to enforce the Holder's rights and remedies and the
Borrower hereby agrees to pay to the Holder's reasonable attorneys' fees, plus
all other reasonable expenses incurred by the Holder in exercising any of the
Holder's rights and remedies upon default. The rights and remedies of the Holder
as provided in this Note shall be cumulative and may be pursued singly,
successively, or together against any other funds, property or security held by
the Holder for payment or security, in the sole discretion of the Holder. The
failure to exercise any such right or remedy shall not be a waiver or release of
such rights or remedies or the right to exercise any of them at another time.

                  5. SUBORDINATION. The indebtedness evidenced by this Note is
hereby expressly subordinated, to the extent and in the manner hereinafter set
forth, in right of payment to the prior payment in full of the Senior
Indebtedness. For purposes hereof, "SENIOR INDEBTEDNESS" shall mean, unless
expressly subordinated to or made on a parity with the amounts due under this
Note, the principal of, unpaid interest on and amounts reimbursable, fees,
expenses, costs of enforcement by (x) wholesalers in the ordinary course of
business and (y) any lender for borrowed money (each, a "SENIOR LENDER")
pursuant to the $6 million revolving term credit facility under the Loan and
Security Agreement by and among Borrower, Mail Order Meds, Inc., Care Line of
New York, Inc. and Heller Healthcare Finance dated April 21, 1999 or any
replacement of such facility. By acceptance of this Note, Holder hereby
authorizes the Collateral Agent to execute and deliver, on Holder's behalf,
customary forms of subordination agreement requested from time to time by the
Senior Lender. The Holder shall enter into such subordination agreements
consistent with the provisions of this Section 5 as may be reasonably requested
by the Senior Lender.

                  6. MISCELLANEOUS. The following general provisions apply:

                  (a) This Note, and the obligations and rights of the parties
hereunder, shall be binding upon and inure to the benefit of the Borrower, the
Holder, and their respective heirs, personal representatives, successors and
assigns.

                  (b) Changes in or amendments or additions to this Note may be
made, or compliance with any term, covenant, agreement, condition or provision
set forth herein may be omitted or waived (either generally or in a particular
instance and either retroactively or prospectively), upon written consent of the
Borrower and the Holder.

                  (c) The undersigned and any holder hereof waive trial by jury
in any action or proceeding to which the undersigned and any such holder may be
parties arising out of or in connection with this Note.

                                      -3-

<PAGE>

                  (d) In the event that the rate of interest provided for in
this Note exceeds the maximum rate permitted by law, such rate of interest shall
be reduced to the maximum rate of interest permitted by law.

                  (e) All notices, requests, consents and demands shall be made
in writing and shall be mailed postage prepaid, or delivered by reliable
overnight courier or by hand, to the Borrower or to the Holder at their
respective addresses set forth below or to such other address as may be
furnished in writing to the other party hereto and shall be effective upon
receipt:

                  If to the Borrower, at 33 Walt Whitman Road, Suite 200A,
Huntington Station, NY 11746, Attention: Chief Executive Officer.

                  If to the Holder, at 23318 Evalyn Avenue, Torrance, CA 90505.

                  (f) This Note shall be construed and enforced in accordance
with, and the rights of the parties shall be governed by, the laws of the State
of California.

                  (g) Notwithstanding anything contained herein to the contrary,
Borrower has the right to set off amounts due to the Holders under this Note
against any purchase price adjustment and/or indemnification obligations that
the Holders have to Borrower pursuant to Section 1.7 or Article 9 of the
Purchase Agreement.

                  IN WITNESS WHEREOF, the Borrower has caused this Note to be
executed in its corporate name by a duly authorized officer, by order of its
Board of Directors as of the day and year first above written.

                             ALLION HEALTHCARE, INC.

                             By:
                                  --------------------------------------------
                                  Name:  Michael P.  Moran
                                  Title:  President and Chief Executive Officer

                                      -4-

<PAGE><PAGE>

                                                                     EXHIBIT 4.1

               HUB INTERNATIONAL EQUITY INCENTIVE PLAN AS AMENDED

1. PURPOSES. The purposes of the HUB INTERNATIONAL LIMITED EQUITY INCENTIVE
PLAN, as amended from time to time (the "Plan"), are to advance the interests of
Hub International Limited, a corporation organized under the laws of the
province of Ontario, and any successor thereto (the "Company"), by linking the
personal interests of participants to those of the Company's stockholders by
providing Participants (as such term is defined below) with an incentive for
outstanding performance. The Plan is further intended to assist the Company in
its ability to motivate, and retain the services of, Participants upon whose
judgment, interest and special effort the successful conduct of the Company's
and its Subsidiaries' (as such term is defined below) operations is largely
dependent.

2.  DEFINITIONS AND RULES OF CONSTRUCTION.

(a) Definitions. For purposes of the Plan, the following capitalized words shall
have the meanings set forth below:

   "Account" means the bookkeeping record established by the Company for each
   Participant. An Account is established only for purposes of measuring the
   value of the Company's obligation to a Participant in respect of Restricted
   Share Units and not to segregate assets or to identify assets that may be
   used to settle Restricted Share Units.

   "Associate" has the meaning ascribed to such term in the Securities Act
   (Ontario), as amended from time to time.

   "Award" means an award made pursuant to the terms of the Plan to an Eligible
   Individual (as hereinafter defined) in the form of Options, Restricted Shares
   or Restricted Share Units.

   "Award Document" means an agreement, certificate or other type or form of
   document or documentation approved by the Committee which sets forth the
   terms and conditions of an Award. An Award Document may be in written,
   electronic or other media may be limited to a notation on the books and
   records of the Company and, unless the Committee requires otherwise, need not
   be signed by a representative of the Company or a Participant, provided that,
   if the Company is providing financial assistance to a Participant, the Award
   Document shall include a promissory note signed by the Participant.

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

   "Change of Control" means a sale of all or substantially all of the assets of
   the Company or the acquisition by any person or group of related persons
   (other than Fairfax Financial Holdings Limited or persons related to Fairfax
   Financial Holdings Limited) of more than 50% of the shares of the Company
   ordinarily entitled to be voted on the election of directors.

   "Code" means the Internal Revenue Code of 1986, as amended from time to time,
   and the rules and regulations (including any proposed regulations)
   promulgated thereunder.

   "Committee" means the compensation committee appointed by the Board to
   administer the Plan and comprised of two or more directors each of whom shall
   be a "non-employee director" within the meaning of Rule 16b-3 of the Exchange
   Act and an "outside director" within the meaning of Treasury Regulation
   Section 1.162-27(e)(3), provided that the delegation of powers to such
   committee shall be consistent with applicable laws, regulations and rules of
   any applicable jurisdiction or stock exchange (including, without limitation,
   applicable corporate law and Rule 16b-3 of the Exchange Act).

   "Common Stock" means the common shares of the Company.

   "Date of Grant" means the date of grant of an Award as set forth in the
   applicable Award Document.

   "Disability" shall have the meaning ascribed to such term in the Company's
   long-term disability plan. The Committee's determination as to whether or
   not a Participant has incurred a Disability is final and conclusive and
   binding on all persons.

   "Effective Date" means May 10, 2002.

                                       37

<PAGE>

   "Eligible Individual" means an individual described in Section 5(a) who is
   eligible for an Award under the Plan.

   "Exchange Act" means the Securities Exchange Act of 1934, as amended from
   time to time, and the rules and regulations promulgated thereunder.

   "Fair Market Value" means, for purposes of this Plan, unless otherwise
   required by any applicable provision of the Code or any regulations
   thereunder, the value of a Share on a particular date, determined as follows:

  (a) if the Common Stock is listed or admitted to trading on such date on the
      Toronto Stock Exchange, any national securities exchange or quoted through
      the Nasdaq National Market System ("Nasdaq"), the greater of the closing
      sale price of a Share as reported on: (i) the relevant composite
      transaction tape, (ii) the principal exchange (determined by trading value
      in the Common Stock), or (iii) through Nasdaq, as the case may be, on such
      date, or in the absence of reported sales on such date, the mean between
      the highest reported bid and lowest reported asked prices reported on such
      composite transaction tape or exchange or through the Nasdaq, as the case
      may be, on such date; or

  (b) if the Common Stock is not listed or quoted as described in the preceding
      clause, but bid and asked prices are quoted through Nasdaq, the mean
      between the highest reported bid and lowest reported asked prices as
      quoted through Nasdaq on such date; or

  (c) if the Common Stock is not listed or quoted on the Toronto Stock
      Exchange, any other national securities exchange or through Nasdaq or, if
      pursuant to (a) and (b) above the Fair Market Value is to be determined
      based upon the mean of the highest reported bid and lowest reported asked
      prices provided that if the Committee determines that such mean does not
      properly reflect the Fair Market Value, by such other method as the
      Committee determines to be reasonable and consistent with applicable law;
      or

  (d) if the Common Stock is not publicly traded, such amount as is determined
      by the Committee in good faith.

   "Good Reason" means (i) the breach of the terms of the Participant's
   employment agreement by the Company or any successor thereto; (ii) the direct
   or indirect assignment to the Participant of any duties or reporting
   responsibilities, materially inconsistent with the services contemplated in
   the Participant's employment agreement (excluding any isolated and
   inadvertent assignment that is remedied by the Participant's employer within
   thirty (30) days after receipt of notice from the Participant); (iii) a
   reduction in the Participant's compensation or an unreimbursed reduction in
   benefits; (iv) any failure by the Company to require any successor (whether
   direct or indirect, by purchase, merger, consolidation or otherwise) to all
   or substantially all of the business and/or assets of the Company to assume
   expressly and agree to perform the provisions of the Participant's employment
   agreement in the same manner and to the same extent that the employer would
   be required to perform if no such succession had taken place; (v) the failure
   by the employer to continue to provide the Participant with benefits; (vi)
   the relocation of the Participant's principal place of business to a location
   such that the Participant's regular commute is substantially in excess of the
   Participant's existing commute to the Participant's then existing principal
   place of business.

   "Insider" has the meaning ascribed to such term in Section 627 of The Toronto
   Stock Exchange Company Manual.

   "Just Cause" means (i) a material breach by the Participant of the provisions
   of the Participant's employment agreement, which breach shall not have been
   cured by the Participant within thirty (30) days following the written notice
   thereof by the Participant's employer to the Participant, (ii) the commission
   of gross negligence by the Participant in the course of the Participant's
   employment, which commission has a material adverse effect on the Company,
   (iii) the commission by the Participant of a criminal act of fraud, theft or
   dishonesty causing material damages to the Company, (iv) the Participant's
   conviction of (or plead of nolo contendere to) any felony, or misdemeanor
   involving moral turpitude if such misdemeanor results in material financial
   harm to or materially adversely affects the goodwill of the Company, or (v)
   such other act or omission that a court of competent jurisdiction declares in
   a written ruling to be a breach of the Participant's responsibilities under
   the Participant's employment agreement of such materiality as to justify a
   termination of the Participant's employment by the Participant's employer.

                                       38

<PAGE>

   "Option" means a stock option granted under Section 6, which is not an
   "incentive stock option" within the meaning of Section 422 of the Code.

   "outstanding issue" has the meaning ascribed to such term in Section 627 of
   The Toronto Stock Exchange Company Manual.

   "Participant" means an Eligible Individual who has been granted an Award
   under the Plan.

   "Restricted Period" means, with respect to any Restricted Share or Restricted
   Share Unit, the period of time determined by the Committee in accordance with
   the terms of the Plan during which such Restricted Share or Restricted Share
   Unit is subject to the restrictions set forth in the applicable Award
   Document.

   "Restricted Share" means an Award of restricted shares of Common Stock that
   has not vested or remains subject to forfeiture, transfer or other
   restrictions in accordance with Section 7 and the applicable Award Document.

   "Restricted Share Units" means an Award of restricted share units of Common
   Stock that has not vested or remains subject to forfeiture, transfer or other
   restrictions in accordance with Section 8 and the applicable Award Document.

   "Retirement" means a Participant's retirement at the age regarded by the
   Company or a Subsidiary as the normal retirement age for its employees in
   general, based upon the Company's or the Subsidiary's normal employment and
   related policies and practices.

   "Shares" means the shares of Common Stock and any shares or other securities
   into which such Shares have been for whatever reason changed or which have
   for whatever reason been substituted for, or distributed (as a dividend or
   otherwise) upon, such Shares.

   "Subsidiary" shall have the same meaning ascribed to such term in the
   Securities Act (Ontario).

   "Termination of Employment" means a Participant's termination of employment
   or service with the Company or a Subsidiary for any reason whatsoever
   (including, without limitation, as a result of termination by the Company or
   a Subsidiary without cause) at a time when the Participant is not (and is not
   imminently about to be) an employee or a director of either the Company or
   any Subsidiary or otherwise providing services to the Company.

(b) Rules of Construction. The masculine pronoun shall be deemed to include the
feminine pronoun and the singular form of a word shall be deemed to include the
plural form, unless the context requires otherwise. Unless the context indicates
otherwise, references to sections are to sections of the Plan.

3.  ADMINISTRATION.

(a) Power and Authority of the Committee. The Plan shall be administered by the
Committee, which shall have full power and authority, subject to the
requirements of The Toronto Stock Exchange, where applicable, and the express
provisions hereof:

   (i)    to select Participants from the Eligible Individuals;

   (ii)   to make Awards in accordance with the Plan;

   (iii)  to determine the number of shares of Common Stock subject to each
          Award;

   (iv)   to determine the terms and conditions of each Award, including,
          without limitation, those related to transferability, vesting,
          forfeiture and exercisability and the effect, if any, of a
          Participant's Termination of Employment, and including the authority
          to adjust the terms of an Award to comply with the laws, regulations
          or rules of any applicable jurisdiction or stock exchange;

   (v)    to determine the terms and conditions of any financial assistance
          provided to a Participant in accordance with the Plan;

   (vi)   to amend the terms and conditions of an Award after the granting
          thereof to a Participant in a manner that either is not prejudicial to
          the rights of such Participant in such Award or has been consented to
          in writing by the Participant;

                                       39

<PAGE>

   (vii)  to specify and approve the provisions of the Award Documents delivered
          to Participants in connection with their Awards;

   (viii) to construe and interpret any Award Document delivered under the Plan;

   (ix)   to prescribe, amend and rescind rules and procedures relating to the
          Plan;

   (x)    subject to the provisions of the Plan and subject to such additional
          limitations and restrictions as the Committee may impose, to delegate
          to one or more officers of the Company some or all of its authority
          under the Plan;

   (xi)   to adopt, on behalf of the Company, one or more sub-plans applicable
          to separate classes of Participants who are subject to the laws of
          jurisdictions outside of the United States and Canada;

   (xii)  to employ such legal counsel, independent auditors and consultants as
          it deems desirable for the administration of the Plan and to rely upon
          any opinion or computation received therefrom; and

   (xiii) to make all other determinations (including, without limitation,
          factual and legal determinations) and to formulate such procedures as
          may be necessary or advisable for the administration of the Plan.

(b) Plan Construction and Interpretation. The Committee shall have full power
and authority, subject to the express provisions hereof, to construe and
interpret the Plan.

(c) Corporate Governance. The administration of the Plan shall in all respects
be subject to the Company's Articles and By-laws, as may be amended from time to
time, and all applicable laws, regulations and rules.

(d) Determinations of Committee Final and Binding. All determinations by the
Committee in carrying out and administering the Plan and in construing and
interpreting the Plan shall be final, binding and conclusive for all purposes
and upon all interested persons. Every action, including an exercise of
discretion by the Committee, is wholly without precedent value for any purpose.

4.  COMMON STOCK SUBJECT TO THE PLAN.

(a) Plan Limit. Subject to Section 10, the maximum aggregate number of shares of
Common Stock that may be issued in connection with Awards granted under the Plan
is 3,631,820 shares (the "Plan Limit"). Subject to compliance with applicable
laws, regulations and rules of any applicable jurisdiction or stock exchange,
Shares utilized in connection with the Plan may be purchased on the open market
or otherwise acquired, newly issued, treasury shares or any combination thereof.

The Shares available for issuance under the Plan together with all of the
Company's other previously established or proposed share compensation
arrangements cannot, at any time, result in:

   (i)    the number of Shares reserved for issuance pursuant to Options granted
          to Insiders exceeding 10% of the outstanding issue;

   (ii)   the issuance to Insiders, within a one-year period, of a number of
          Shares exceeding 10% of the outstanding issue;

   (iii)  the issuance to any one Insider and such Insider's Associates, within
          a one-year period, of a number of Shares exceeding 5% of the
          outstanding issue; or

   (iv)   the number of Shares reserved for issuance to any one Participant
          exceeding 5% of the outstanding issue.

(b) Rules Applicable to Determining Shares Available for Issuance. For purposes
of determining the number of Shares that remain available for issuance under the
Plan, the following Shares shall be added back to the Plan Limit and again be
available for Awards:

   (i)    the number of Shares withheld from any Award to satisfy a
          Participant's tax withholding obligations; and

   (ii)   the number of Shares underlying any Award that are surrendered and
          cancelled without being exercised.

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<PAGE>

5.  PARTICIPATION.

(a) Eligible Individuals. Awards may be granted by the Committee to individuals
("Eligible Individuals") who are directors, officers or other key employees of
the Company or a Subsidiary with the potential to contribute to the future
success of the Company or its Subsidiaries. Awards shall not be affected by any
change of duties or positions so long as the holder continues to be a director,
officer, employee of, or consultant to, the Company or a Subsidiary.

(b) Awards to Participants. The Committee shall have no obligation to grant any
Eligible Individual an Award or to designate an Eligible Individual as a
Participant.

6.  STOCK OPTIONS.

Options granted under the Plan shall be subject to the following terms and
conditions and shall contain such additional terms and conditions as the
Committee shall deem appropriate, not inconsistent with the terms of the Plan
and applicable law, regulations and rules:

(a) Award Document. The terms and conditions of each Option shall be set forth
in an Award Document in a form approved by the Committee, which shall
incorporate the Plan by reference. The vesting, forfeiture and other
restrictions applicable to an Option (which will include, without limitation,
restrictions on transferability) shall be determined by the Committee and shall
be set forth in the applicable Award Document.

(b) Form of Award. The Committee is authorized to grant Options to Eligible
Individuals. An Option shall entitle a Participant to purchase a specified
number of Shares during a specified time at an exercise price determined in
accordance with Section 6(c) below. An Option shall become exercisable after or
at the time such Option becomes vested as determined by the Committee. An Option
shall be exercisable during such period(s) as shall be determined by the
Committee and the Committee may, subject to regulatory approval, extend the term
of an Option after the Date of Grant. An Option which is not exercised during
its period of exercisability shall expire without any payment to the
Participant.

(c) Exercise Price. The exercise price per share of Common Stock purchasable
under an Option shall be fixed by the Committee on the Date of Grant or,
alternatively, shall be determined by a method specified by the Committee on the
Date of Grant; provided, that such exercise price shall not be less than the
Fair Market Value of a share of Common Stock on the Date of Grant.

(d) Method of Exercise. Subject to the provisions of the applicable Award
Document, the exercise price of an Option may be paid in cash, certified check
or bank check or a combination thereof. The Committee may also establish
procedures pursuant to which an Option may be exercised through a "cashless
exercise" procedure involving a broker or dealer approved by the Committee, that
affords Participants the opportunity to sell immediately some or all of the
Shares underlying the exercised portion of the Option in order to generate
sufficient cash to pay the Option exercise price and/or to satisfy the minimum
required withholding tax obligations related to the Option.

(e) Unvested Options. The following provisions apply to the unvested portion of
an Option held by a Participant except to the extent, if any, otherwise provided
in the applicable Award Document:

   (i)    upon a Participant ceasing to be an Eligible Individual for any reason
          other than death, Disability, dismissal without Just Cause,
          resignation for Good Reason, a Change of Control or Retirement, the
          unvested portion of the Option shall be forfeited and cancelled
          without any payment to such Participant and shall not be exercisable
          in whole or in part unless otherwise provided by the Committee, the
          Plan or the Award Document;

   (ii)   upon a Participant ceasing to be an Eligible Individual by reason of
          death, Disability, dismissal without Just Cause, resignation for Good
          Reason, a Change of Control or Retirement, the unvested portion of an
          Option shall immediately vest in full.

Notwithstanding the foregoing, the Board may in any particular case, in its sole
discretion and without precedent value, suspend or vary the operation of the
foregoing provisions, based on such factors or criteria as the Committee may
determine in its sole discretion (including, without limitation, accelerating
the vesting of an Option, in whole or in part), but only (i) with prior approval
of the Toronto Stock Exchange, and (ii) in a manner that is not adverse to the
Participant and complies with applicable laws, regulations and rules of any
applicable jurisdiction or stock exchange.

                                       41

<PAGE>

(f) Termination of Employment. Upon a Participant's death, Disability or
Retirement, the Participant shall, except to the extent, if any, otherwise
provided in the applicable Award Document, retain the right to exercise the
vested portion of any Option held by such Participant for the applicable term of
the Option. Upon a Participant's Termination of Employment by reason of
dismissal without Just Cause, resignation for Good Reason or a Change of
Control, the Participant shall, except to the extent, if any, otherwise provided
in the applicable Award Document, retain the right to exercise the vested
portion of any Option held by such Participant for three years following such
termination, except in the case of a Participant who is a director of the
Company or a consultant to the Company or a Subsidiary in which event the
Participant shall, except to the extent, if any, otherwise provided in the
applicable Award Document, retain the right to exercise the vested portion of
any Option held by such Participant for one year following such termination.
Upon a Participant's Termination of Employment for any reason other than death,
Disability, dismissal without Just Cause, resignation for Good Reason, a Change
of Control or Retirement, the Participant shall, except to the extent, if any,
otherwise provided in the applicable Award Document, retain the right to
exercise the vested portion of any Option held by such Participant for ninety
days following such termination.

(g) Term of Option. Each Option shall be effective for such term as shall be
determined by the Committee and set forth in the applicable Award Document;
provided, however, that the term of any Option shall not exceed 10 years from
the Date of Grant.

(h) Fractional Shares. No fractional Shares may be issued upon any exercise of
an Option, and the Committee may determine the manner, if any, in which
fractional share value shall be treated.

7.  RESTRICTED SHARES.

Restricted Shares awarded under the Plan shall be subject to the following terms
and conditions and shall contain such additional terms and conditions as the
Committee shall deem appropriate, not inconsistent with the terms of the Plan
and applicable law, regulation and rules:

(a) Award Document. The terms and provisions of each Restricted Share awarded
under the Plan shall be set forth in an Award Document in a form approved by the
Committee, which shall incorporate the Plan by reference. The vesting,
forfeiture and other restrictions applicable to a Restricted Share (which may
include, without limitation, restrictions on transferability) shall be
determined by the Committee and shall be set forth in the applicable Award
Document.

(b) Terms of Restricted Shares; Generally.

   (i)    Subject to Section 7(b)(iii), Restricted Shares may be granted to any
          Eligible Individual by the Committee, in its sole discretion, and
          shall comply with the terms and conditions of the Plan and the
          applicable Award Document.

   (ii)   Restricted Shares shall be held in escrow rather than delivered to the
          Participant pending the release of the applicable restrictions and the
          Participant shall execute and deliver to the Company (1) an escrow
          agreement satisfactory to the Committee and (2) the appropriate blank
          stock powers with respect to the Restricted Shares covered by such
          agreements. If a Participant does not execute an escrow agreement and
          stock powers, the Award shall be null and void. Subject to the
          restrictions set forth in Section 7(d), the Participant shall
          generally have the rights and privileges of a stockholder as to such
          Restricted Shares, including the right to vote the Restricted Shares
          and to receive dividends. In the sole discretion of the Committee,
          cash dividends and stock dividends with respect to the Restricted
          Shares may be either currently paid to the Participant or withheld by
          the Company for the Participant's account and subject to such terms as
          determined by the Committee. Cash dividends or stock dividends may, in
          the sole discretion of the Committee, be subject to the same
          restrictions as the underlying Restricted Shares.

   (iii)  Unless such Restricted Shares are acquired on the open market,
          Restricted Shares granted under the Plan shall not be issued until the
          consideration for the Restricted Shares is fully paid in money,
          property or past service that is not less in value than the fair
          equivalent of the money that the Company would have received if the
          Restricted Shares had been issued for money (as determined by the
          Board in its sole discretion).

                                       42

<PAGE>

(c) Certificates. Upon the award of Restricted Shares, the Committee shall cause
a share certificate (or appropriate electronic entry) registered in the name of
the Participant to be issued and deposited together with the powers with an
escrow agent designated by the Committee. The Committee shall cause the escrow
agent to issue to a Participant a receipt evidencing any share certificate held
by it registered in the name of such Participant.

(d) Restrictions.

   (i)    Restricted Shares awarded to a Participant shall be subject to the
          following restrictions until the expiration of the Restricted Period,
          and to such other terms and conditions as may be set forth in the
          applicable Award Document: (1) the Participant shall not be entitled
          to delivery of the share certificate; (2) the Shares shall be subject
          to the restrictions on transferability set forth in the Award
          Document; and (3) the Shares shall be subject to forfeiture to the
          extent provided in Section 7(f) and the applicable Award Document and,
          to the extent such Shares are forfeited, the share certificates shall
          be returned to the Company, and all rights of the Participant to such
          Shares and as a stockholder shall terminate without further obligation
          on the part of the Company and all such Shares shall be cancelled.

   (ii)   The Committee shall have the authority to remove any or all of the
          restrictions on the Restricted Shares whenever it may determine that,
          by reason of changes in applicable laws or other changes in
          circumstances arising after the date of the Award, such action is
          appropriate.

(e) Restricted Period. The duration of the Restricted Period and the other
restrictions, if any, that shall be imposed upon the Restricted Shares shall be
determined by the Committee at the time each grant of Restricted Shares is made
and, at the discretion of the Committee, may be set forth in the applicable
Award Document. The Committee may, in any particular case, in its sole
discretion and without precedent value, reduce any Restricted Period or any
other restrictions regarding the transferability or forfeiture of all or a
portion of any Award.

(f) Termination of Employment. Unless otherwise determined by the Committee, in
its sole discretion, or specified in the applicable Award Document:

   (i)    upon a Participant ceasing to be an Eligible Individual by reason of
          death, Disability, dismissal without Just Cause, resignation for Good
          Reason, a Change of Control or Retirement, the Restricted Period
          applicable to any Restricted Shares granted to such Participant shall
          terminate; and

   (ii)   upon a Participant ceasing to be an Eligible Individual for any
          reason other than death, Disability, dismissal without Just Cause,
          resignation for Good Reason, a Change of Control or Retirement, all of
          the Participant's Restricted Shares shall be forfeited without any
          payment to such Participant.

Notwithstanding the foregoing, the Committee may, in any particular case, in its
sole discretion, but with prior approval of the Toronto Stock Exchange, and
without precedent value, suspend or vary the operation of the foregoing
provisions, upon such terms and to such extent as it may determine, but only in
a manner that is not adverse to the Participant and complies with applicable
laws, regulations and rules of any jurisdiction or stock exchange.

(g) Delivery of Restricted Shares. Upon the expiration of the Restricted Period
with respect to any Restricted Share, the restrictions set forth in Section 7(d)
and the Award Document shall be of no further force or effect with respect to
such Restricted Share, provided that the Restricted Share has not been
forfeited. Upon such expiration, the Company shall deliver to the Participant,
without charge, a share certificate evidencing the Restricted Shares which have
not been forfeited and with respect to which the Restricted Period has expired
(to the nearest full share) and any cash dividends or share dividends credited
to the Participant's account with respect to such Restricted Share and the
interest thereon, if any.

                                       43

<PAGE>

8.  RESTRICTED SHARE UNITS.

Restricted Share Units shall consist of a grant of units, each of which
represents the right of the Participant to receive one Share, subject to the
following terms and conditions and shall contain such additional terms and
conditions as the Committee shall deem appropriate, not inconsistent with the
terms of the Plan and applicable law, regulations and rules:

(a) Terms set forth in Award Document. The terms and provisions of each
Restricted Share Unit awarded under the Plan shall be set forth in an Award
Document in a form approved by the Committee, which shall incorporate the Plan
by reference. The vesting, forfeiture and other restrictions applicable to a
Restricted Share Unit (which may include, without limitation, restrictions on
transferability) shall be determined by the Committee and shall be set forth in
the applicable Award Document.

(b) Deferral. By their terms, Restricted Share Units are automatically deferred
upon grant as provided in the applicable Award Document. Pursuant to rules and
regulations adopted by the Committee, the Committee may permit a Participant to
further defer the settlement of a Restricted Share Unit until the earlier of his
or her (i) termination of employment or (ii) death. Amounts deferred in
accordance with the preceding sentence shall be noted in a Participant's
Account.

(c) Accounts. Upon the grant of a Restricted Share Unit, the Board shall credit
a Participant's Account with the number of Restricted Share Units granted. In
the event that the Company pays any cash or other dividend or makes any other
distribution in respect of the Common Stock, a Participant's Account will be
credited with an additional number of Restricted Share Units (including
fractions thereof) determined by dividing (i) the amount of cash, or the value
(as determined by the Board) of any securities or other property, paid or
distributed in respect of a Share by (ii) the Fair Market Value of a Share for
the date of such payment or distribution, and multiplying the result of such
division by (iii) the number of Restricted Share Units that were credited to a
Participant's Account immediately prior to the date of the dividend or other
distribution. Credits shall be made effective as of the date of the dividend or
other distribution in respect of the Common Stock. Dividends credited to a
Participant's Account may, in the sole discretion of the Committee, be either
currently paid to the Participant or withheld by the Company and credited to the
Participant's Account as additional Restricted Share Units. Dividends credited
to a Participant's Account may, in the sole discretion of the Committee, be
subject to the same restrictions as the underlying Restricted Share Units.

(d) Restrictions.

   (i)    Restricted Share Units awarded to a Participant shall be subject to
          the following restrictions until the expiration of the Restricted
          Period, and to such other terms and conditions as may be set forth in
          the applicable Award Document: (1) the Participant shall not be
          entitled to delivery of the share certificate and (2) the Restricted
          Share Units shall be subject to forfeiture to the extent provided in
          Section 8(e) and the applicable Award Document.

   (ii)   The Committee shall have the authority to remove any or all of the
          restrictions on the Restricted Shares Units whenever it may determine
          that, by reason of changes in applicable laws or other changes in
          circumstances arising after the date of the Award, such action is
          appropriate.

(e) Restricted Period. The duration of the Restricted Period and the other
restrictions, if any, that shall be imposed upon the Restricted Share Units
shall be determined by the Committee at the time each grant of Restricted Share
Units is made and, at the discretion of the Committee, may be set forth in the
applicable Award Document. The Committee may, in any particular case, in its
sole discretion and without precedent value, reduce any Restricted Period or any
other restrictions regarding the transferability or forfeiture of all or a
portion of any Award.

(f) Termination of Employment. Unless otherwise determined by the Committee, in
its sole discretion, or specified in the applicable Award Document:

   (i)    upon a Participant ceasing to be an Eligible Individual by reason of
          death, Disability, dismissal without Just Cause, resignation for Good
          Reason, a Change of Control or Retirement, the Restricted Period
          applicable to any Restricted Share Units granted to such Participant
          shall terminate; and

                                       44

<PAGE>

   (ii)   upon a Participant ceasing to be an Eligible Individual for any
          reason other than death, Disability, dismissal without Just Cause,
          resignation for Good Reason, a Change of Control or Retirement, all of
          the Participant's Restricted Share Units shall be forfeited without
          any payment to such Participant.

Notwithstanding the foregoing, the Committee may, in any particular case, in its
sole discretion, but with prior approval of the Toronto Stock Exchange, and
without precedent value, suspend or vary the operation of the foregoing
provisions, upon such terms and to such extent as it may determine, but only in
a manner that is not adverse to the Participant and complies with applicable
laws, regulations and rules of any applicable jurisdiction or stock exchange.

(g) Delivery of Shares. Upon the expiration of the Restricted Period with
respect to any Restricted Share Unit, the restrictions set forth in Section 8(d)
and the Award Document shall be of no further force or effect with respect to
such Restricted Share Unit, provided that the Restricted Share Unit has not been
forfeited. Upon such expiration, the Company shall, in its sole discretion, (i)
deliver to the Participant a share certificate evidencing the Restricted Share
Units in such Participant's Account that have not been forfeited, or (ii)
deliver to the Participant, cash equal to the Fair Market Value of the Shares
subject to such Restricted Share Units, or in a combination of Shares and cash.

(h) No Stockholder Rights. The crediting of Restricted Share Units to an Account
shall not confer on the relevant Participant any rights as a stockholder of the
Company.

9.  GENERAL PROVISIONS.

(a) Non-Transferability of Award. Unless the Committee determines otherwise in
its sole discretion and subject to regulatory approval, no Award or amount
payable under, or interest in, the Plan shall be transferable by a Participant
except by will or the laws of descent and distribution or otherwise be subject
in any manner to anticipation, alienation, sale, transfer, assignment, pledge,
encumbrance or charge; provided, however, that the Committee may, in its sole
discretion and subject to such terms and conditions as it shall specify, permit
the transfer of an Award, other than an Option, for no consideration to a
Participant's family members or to one or more personal holding companies which
are controlled or wholly-owned by the Participant, provided such Shares
underlying an Award are owned directly or indirectly by the Participant, his or
her spouse, minor children or minor grandchildren, and/or family trusts
wholly-owned (directly or indirectly) by the Participant or his or her immediate
family (collectively, "Permitted Transferees"). Any Award transferred to a
Permitted Transferee shall be further transferable only by will or the laws of
descent and distribution or, for no consideration, to another Permitted
Transferee of the Participant. The Committee may, in its sole discretion, permit
transfers of Awards (other than an Option) other than those contemplated by this
Section 9(a). During the lifetime of the Participant, an Option shall be
exercisable only by the Participant or by a Permitted Transferee to whom such
Option has been transferred in accordance with this Section 9(a).

(b) Rights with Respect to Shares. A Participant shall have no rights as a
stockholder with respect to Shares covered by an Award until the date the
Participant or his nominee becomes the holder of record of such Shares, and
except as herein otherwise provided no adjustments shall be made for cash
dividends or other distributions or other rights as to which there is a record
date preceding the date such person becomes the holder of record of such shares.
The Company shall not be entitled to exercise any voting rights in respect of
the Shares held by it unless the Company has both sought and obtained
instructions from a Participant, in which case the Company shall exercise the
voting rights in respect of the Shares which are or may be transferable to such
Participant upon the exercise of such Participant's Options in accordance with
the instructions of such Participant (provided that, for greater certainty,
nothing herein shall obligate the Company to seek instructions from any or all
of the Participants). Except as the following may be varied by action taken
under Section 9, the Company shall be entitled (to the exclusion of any
Participant) to all dividends and other distributions in respect of the Shares
held by it at all times prior to the transfer of such Shares to a Participant
upon the exercise of an Option.

(c) No Right to Continued Employment. No Eligible Individual or Participant
shall have any claim or right to receive grants of Awards under the Plan.
Nothing in the Plan or in any Award or Award Document shall confer upon any
Eligible Individual any right to continued employment or service with the
Company or any Subsidiary or interfere in any way with the right of the Company
or any Subsidiary to terminate the employment or service of any Eligible
Individual any time, with or without cause. Each Participant, by accepting an
Award, agrees with the Company and its Subsidiaries that he or

                                       45

<PAGE>

she will not be entitled to any damages, payment or claim with respect to or as
a result of any forfeiture of the Award that occurs as a result of the
termination of the Participant's employment or service with the Company or any
Subsidiary, regardless of the reason for or circumstances of such termination,
or whether such termination was or was not wrongful and of whether or not the
period of notice of termination given to the Participant was sufficient.

(d) Consent to Plan. By accepting any Award or other benefit under the Plan,
each Participant and each person claiming under or through such Participant
shall be conclusively deemed to have indicated his acceptance and ratification
of, and consent to, any action taken under the Plan by the Company, the Board or
the Committee.

(e) Wage and Tax Withholding. The Company or any Subsidiary is authorized to
withhold from any Award or any compensation or other payment to a Participant
amounts of withholding and other taxes with respect to the payment of any
federal, state, provincial or local taxes of any kind required by law to be
withheld in connection with any Award, and to take such other action as the
Committee may deem necessary or advisable to enable the Company and the
Participants to satisfy obligations for the payment of the minimum required
withholding obligations relating to any Award. This authority shall include
authority for the Company to withhold or receive Common Stock or other property
and to make cash payments in respect thereof in satisfaction of a Participant's
minimum required tax withholding obligations, either on a mandatory or elective
basis in the sole discretion of the Committee.

(f) Compliance with Laws. An Award may not be exercised, and no Shares may be
issued in connection with an Award, unless and until the Company has determined
that (i) the Company and the Participant have taken all actions under the
securities laws of both the United States and Canada and including any
applicable requirements of any stock exchange in which the Common Stock is
listed, (ii) the consideration for the Shares is fully paid in money, property
or past service that is not less in value than the fair equivalent of the money
that the Company would have received if the Shares had been issued for money (as
determined by the Board in its sole discretion), and (iii) the issuance of such
Shares complies with any other applicable laws.

(g) Unfunded Plan. The Plan is intended to constitute an "unfunded" plan for
incentive compensation. Nothing contained in the Plan (or in any Award Documents
or other documentation related thereto) shall give any Participant any rights
that are greater than those of a general creditor of the Company; provided,
however, that the Committee may authorize the creation of trusts and deposit
therein cash, Shares or other property or make other arrangements to meet the
Company's obligations under the Plan. Such trusts or other arrangements shall be
consistent with the "unfunded" status of the Plan unless the Committee
determines otherwise. The trustee of such trusts may be authorized to dispose of
trust assets and reinvest the proceeds in alternative investments, subject to
such terms and conditions as the Committee may specify.

(h) Other Employee Benefit Plans. Payments received by a Participant under any
Award made pursuant to the Plan shall not be included in, nor have any effect
on, the determination of benefits under any other employee benefit plan or
similar arrangement provided by the Company, unless otherwise specifically
provided for under the terms of such plan or arrangement or by the Committee.

(i) Compliance with Rule 16b-3. Notwithstanding anything contained in the Plan
or in any Award Document to the contrary, if the consummation of any transaction
under the Plan would result in the possible imposition of liability on a
Participant pursuant to Section 16(b) of the Exchange Act, the Committee shall
have the right, in its sole discretion, but shall not be obligated, to defer
such transaction or the effectiveness of such action to the extent necessary to
avoid such liability, but in no event for a period longer than six months.

(j) Expenses. The costs and expenses of administering and implementing the Plan
shall be borne by the Company.

(k) Liability and Indemnification.

   (i)    Neither the Company nor any Subsidiary shall be responsible in any way
          for any action or omission of the Committee or any other fiduciaries
          in the performance of their duties and obligations as set forth in the
          Plan. Furthermore, neither the Company, any Subsidiary nor the
          Committee shall be responsible for any act or omission of any of their
          agents, or with respect to reliance upon the advice of their counsel,
          provided that the Company, the appropriate Subsidiary or the
          Committee, as the case may be, relied in good faith upon the action of
          such agent or the advice of such counsel.

                                       46

<PAGE>

   (ii)   Neither the Company, any Subsidiary, the Committee, nor any agent,
          employee, officer, director, stockholder or member of any of them, nor
          any other person shall have any liability or responsibility to any
          Participant or otherwise with respect to the Plan, except with respect
          to fraud, bad faith or willful misconduct on their part or as
          otherwise expressly provided herein.

(l) Cooperation of Parties. All parties to the Plan and any person claiming any
interest hereunder agree to perform any and all acts and execute any and all
documents and papers which are necessary or desirable for carrying out the Plan
or any of its provisions.

(m) Notices. Each notice relating to the Plan shall be in writing and delivered
by recognized overnight courier or certified mail to the proper address or,
optionally, to any individual personally. Except as otherwise provided in any
Award Document, all notices to the Company or the Committee shall be addressed
to it c/o the Company at its registered office, Attn: Corporate Secretary. All
notices to Participants, former Participants, beneficiaries or other persons
acting for or on behalf of such persons which are not delivered personally to an
individual shall be addressed to such person at the last address for such person
maintained in the records of the Committee or the Company.

(n) Financial Assistance. The Committee shall determine, in its sole discretion,
the terms and conditions of any financial assistance that shall be provided by
the Company to a Participant in order to permit such Participant to exercise an
Option or to purchase Shares under the Plan; provided, however, that such
financial assistance shall not extend beyond the term of the Option or the right
to purchase Shares in respect of which the financial assistance is being
provided. The terms and conditions on which financial assistance may be provided
to a Participant, including any security for such financial assistance and
whether the Company shall have any recourse against such Participant for the
outstanding balance of the financial assistance after realization on such
security, shall be set forth in the Award Document.

10. RECAPITALIZATION OR REORGANIZATION.

(a) Authority of the Company and Shareholders. The existence of the Plan, the
Award Documents and the Awards granted hereunder shall not affect or restrict in
any way the right or power of the Company or the Shareholders of the Company to
make or authorize any adjustment, recapitalization, reorganization or other
change in the Company's capital structure or its business, any merger or
consolidation of the Company, any dividend or other distribution, any issue of
stock or of options, warrants or rights to purchase stock or of bonds,
debentures, preferred or prior preference stocks whose rights are superior to or
affect the Common Stock or the rights thereof or which are convertible into or
exchangeable for Common Stock, or the dissolution or liquidation of the Company,
or any sale or transfer of all or any part of its assets or business, or any
other corporate act or proceeding, whether of a similar character or otherwise.

(b) Change in Capitalization. Notwithstanding any provision of the Plan or any
Award Document, if there is any change in the outstanding Shares by reason of a
stock dividend or split, a recapitalization, or a consolidation, combination or
exchange of shares, or if there is any other change (including, possibly, an
extraordinary dividend) which the Committee in its sole discretion determines is
a sufficiently fundamental change to warrant the action hereinafter described,
the Committee shall make, subject to any prior approval required of relevant
stock exchanges or other applicable regulatory authorities, if any, an
appropriate substitution or adjustment in (i) the exercise price of any
unexercised Options under the Plan; and/or (ii) the number and kind of shares or
other securities subject to unexercised Options under the Plan; provided,
however, that no substitution or adjustment will obligate the Company to
transfer fractional Shares. In the event of the reorganization or the
amalgamation, merger or consolidation of the Company with another corporation,
the Committee may make such provision for the protection of the rights of
Eligible Individuals and Participants as the Committee in its discretion deems
appropriate. The determination of the Committee, as to any such substitution or
adjustment or as to there being no need for the same, will be final and binding
on all parties.

11. EFFECTIVE DATE.

The Plan shall become effective on the Effective Date, subject to subsequent
approval thereof by the Company's stockholders, and shall remain in effect until
it has been terminated pursuant to Section 12. If the Plan is not approved by
the stockholders, the Plan and all interests in the Plan awarded to Participants
shall be void ab initio and of no further force and effect.

                                       47

<PAGE>

12. AMENDMENT; SUSPENSION AND TERMINATION.

Notwithstanding anything herein to the contrary, the Board or the Committee may,
at any time, terminate or, from time to time, amend, modify or suspend the Plan;
provided, however, that no amendment or modification which (i) increases the
Plan Limit or (ii) otherwise must be approved by stockholders pursuant to
applicable rules of an exchange or any requirements or any requirements of the
Code and the regulations promulgated thereunder, shall be effective without
stockholder approval. However, except as otherwise expressly provided herein, no
amendment, modification, suspension or termination of the Plan shall alter the
rights of any Participant existing at such time with respect to an Award, except
with the express written consent of such Participant. The Plan shall continue
until earlier terminated by the Company pursuant to this Section 12. If the Plan
is terminated, the provisions of the Plan, and any administrative guidelines,
regulations and other rules adopted by the Committee with respect to the Plan
which are in force at the time of such termination, will continue in effect in
respect of any Awards which are outstanding at such time and any rights pursuant
to any such Awards. However, notwithstanding the termination of the Plan, the
Committee may make any amendments to the Plan or the Awards which it would have
been entitled to make if the Plan were still in effect. With the consent of any
applicable regulatory authorities, as may be required, the Committee may, in its
sole discretion and without precedent value, amend or modify any particular
outstanding Award(s) or, in circumstances which the Committee deems appropriate
(such a circumstance may, for instance, be a change of control of the Company),
all outstanding Awards, so as to:

   (i)    accelerate the Award's vesting or exercisability;

   (ii)   reduce any restrictions on the transferability, vesting or
          exercisability of the Award; or

   (iii)  if the Company ceases to be subject to the terms of the Exchange Act
          or there is a contemplated transaction which would result in the
          Company ceasing to be subject to the terms of the Exchange Act,
          abbreviate the exercise period of all outstanding Awards;

upon not less than 30 days' notice to all affected Participants and upon such
terms (including the possible reinstatement of Awards) as the Committee
determines.

13. GOVERNING LAW.

The validity, construction and effect of the Plan, any rules and regulations
relating to the Plan, and any Award shall be determined in accordance with the
laws of the province of Ontario applicable to contracts to be performed entirely
within such state and without giving effect to principles of conflicts of laws.

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