Document:

EXHIBIT 10.2

                               SJW CORP.
                          ANNUAL RETAINER FEE
                       DEFERRAL ELECTION PROGRAM

                AS AMENDED AND RESTATED JANUARY 30, 2006

I.   PURPOSE OF RESTATEMENT.

     This Amended and Restated Annual Retainer Fee Deferral Program (the
"Program") shall become effective upon adoption by the Executive Compensation
Committee of the Board of Directors SJW Corp. (the "Corporation") at the
January 30, 2006 meeting.

     The objectives of the Program as so restated are to (i) continue to
promote the long-term success of the Corporation by linking incentive
opportunities for non-employee members of the Board to the performance of the
Corporation and (ii) expand the elements of compensation which such Board
members may elect to defer under the Program to include retainer fees for
service on any Board committee and fees for attendance at Board and Board
committee meetings.

     In connection with such restated objectives, the Program is hereby
renamed the SJW Corp. Deferral Election Program for Non-Employee Board
Members.

II.  ELIGIBILITY.

     All non-employee members of the Corporation's Board of Directors are
eligible to participate in the Program.

III. DEFERRAL AWARDS.

     A.  Term of Program.  The Program as hereby restated shall become
     effective with the fees to be earned for the 2007 calendar year.
     Accordingly, the following fees payable for the 2007 calendar may be
     deferred under the Program: (i) the annual retainer fee for service as a
     non-employee member of the Board of Directors of the Corporation or any
     affiliated entity, (ii) the annual retainer fee for service as a non-
     employee member of any committee of such Board of Directors, (iii) the
     attendance fee for each meeting of such Board of Directors which is
     scheduled for such calendar year prior to the start of that calendar
     year and (iv) the attendance fee for each meeting of each Board
     committee on which the non-employee member serves which is scheduled for
     such calendar year prior to the start of that calendar year. Such
     retainer and scheduled meeting fees for each calendar year for which the
     restated Program continues in effect shall hereinafter be collectively
     referred to as the "Annual Service Fees."  The restated Program will
     also allow deferral elections to be made for the Annual Year Service
     Fees to be earned in each subsequent calendar year, unless otherwise
     specified by the Executive Compensation Committee of the Corporation's
     Board of Directors. Fees for Board or Board committee meeting which
     occur during a particular calendar year but which were not scheduled
     prior to the start of that calendar year cannot be deferred under the
     Program.

     B.  Deferral Procedure.  Each non-employee member of the Corporation's
     Board of Directors ("Participant") may elect to defer the following
     percentages of the Annual Services Fees for any calendar year by
     completing and filing with the Corporation a Deferral Election Form for
     that calendar year:

          -  either fifty percent (50%) or one hundred percent (100%) of the
     portion of the Annual Service Fees attributable to the retainer fees for
     service on the Board or any Board committee, and

          -  one hundred percent (100%) of the portion of the Annual Service
     Fees attributable to Board and Board committee meeting fees.

     C.  Such election must be filed on or before December 31 of the calendar
     year preceding the particular calendar year for which the Annual Service
     Fees subject to that election are to be earned.  Each such election
     shall become irrevocable on that December 31 filing deadline and cannot
     be modified for any reason thereafter.

     D.  Form of Deferral.  The Annual Service Fees that are deferred for any
     calendar year will be converted into a deferred stock award, subject to
     the terms of this Program.  The deferred stock award attributable to the
     deferred Annual Service Fees for any calendar year shall be made on the
     first business day of that calendar year.  The number of shares
     constituting each Participant's deferred stock award for each calendar
     year will be determined by dividing (i) the amount of the Annual Service
     Fees deferred for that year by (ii) the Fair Market Value of one share
     of the Corporation's Common Stock on the business day immediately prior
     to grant date of the award.

     E.  Vesting.  The deferred stock award will vest in accordance with the
     following provisions:

          -  the portion of the deferred stock award attributable to the
          annual retainer fee for service as a non-employee member of the
          Board of Directors will vest in twelve (12) equal monthly
          installments upon the Participant's completion of each month of
          such Board service during the calendar year to which that award
          relates;

         -  the portion of the deferred stock award attributable to the
         annual retainer fee for service as a non-employee member of any
         Board committee will vest in twelve (12) equal monthly installments
         upon the Participant's completion of each month of such committee
         service during the calendar year to which that award relates; and

         -  the portion of the deferred stock award attributable to meetings
         of the Board of Directors or committees of the Board will vest in
         twelve (12) equal monthly installments upon the Participant's
         completion of each month of Board service during the calendar year
         to which those meeting fees relate.

     F.  Deferred Stock Account.  The Deferred Stock Award for each calendar
     year will be credited to a "Deferred Stock Account" established for such
     Participant.  The right to receive the shares of Common Stock credited
     to such Account shall be an unfunded and unsecured right of a general
     creditor.

IV.  DIVIDEND RIGHTS.

     A.  Dividend Rights Attributable to Restricted Stock Award.  Each time a
     dividend is paid on the outstanding Common Stock after the deferred
     stock award is made, the Participant's Deferred Stock Account shall be
     credited with a dollar amount equal to the dividend paid per share
     multiplied by the number of shares previously credited to that Account
     and not distributed as of the record date for the dividend.  As of the
     first business day in January of each year, the Deferred Stock Account
     will be credited with a number of shares of Common Stock equal to (i)
     the cash dividend equivalent amounts credited to that Account for the
     immediately preceding year divided by (ii) the average of the Fair
     Market Value of the Common Stock on each of the dates in the immediately
     preceding year on which dividends were paid.

     B.  Vesting of Dividend Rights.  The shares of Common Stock credited to
     the Deferred Stock Account as a result of the foregoing dividend rights
     will vest at the same time as the portion of the deferred stock award to
     which they are attributable vests.

V.   PAYMENT OF SHARES.

     The shares of Common Stock credited to a Participant's Deferred Stock
     Account shall, to the extent vested, be distributed within thirty (30)
     days following the Participant's termination of service as a member of
     the Corporation's Board of Directors.  The distribution shall be in the
     form of shares of Common Stock issued under the Corporation's Long-Term
     Incentive Plan (the "Plan"). The Deferred Stock Account of each
     Participant shall be divided into a series of subaccounts, one for each
     calendar year for which such Participant defers all or part of his or
     her Annual Service Fees.  The subaccount for each such designated
     calendar year shall be paid in the form of a single lump sum or in up to
     ten (10) annual installments, as the Participant may elect in his or her
     Deferral Election Form for that calendar year.

     Any shares that have not vested before a Participant's termination of
     service as a member of the Corporation's Board of Directors will be
     forfeited.

VI.  DEFINED TERMS.

     All capitalized terms in this Agreement, to the extent not expressly
     defined herein, shall have the meaning assigned to them in the Plan,
     this document or the Deferral Election Form.

VII. MISCELLANEOUS.

     This Program and the Deferred Stock Account evidenced hereby are made
     and granted pursuant to the Plan and are in all respects limited by and
     subject to the terms of the Plan, this Program and the Deferral Election
     Form.<PAGE>
                                                                    EXHIBIT 10.1

                       NASTECH PHARMACEUTICAL COMPANY INC.
                            2004 STOCK INCENTIVE PLAN
                        RESTRICTED STOCK GRANT AGREEMENT

     This Restricted Stock Grant Agreement (the "Agreement") is entered into
this 30th day of January, 2006, by and between Nastech Pharmaceutical Company
Inc. (the "Company"), a Delaware Corporation, and Timothy M. Duffy ("Grantee").

ARTICLE I   GRANT OF RESTRICTED STOCK

     1.1   Grant of Restricted Stock. Pursuant to, and subject to, the terms and
conditions set forth herein and in the Nastech Pharmaceutical Company Inc. 2004
Stock Incentive Plan (the "Plan"), the Company hereby grants to the Grantee
19,000 restricted shares (the "Restricted Stock") of common stock of the Company
("Common Stock").

     1.2   Grant Date. The Grant Date of the Restricted Stock is January 30th,
2006.

     1.3   Incorporation of Plan. All terms, conditions and restrictions of the
Plan are incorporated herein and made part hereof as if stated herein. If there
is any conflict between the terms and conditions of the Plan and this Agreement,
the terms and conditions of the Plan, as interpreted by the Compensation
Committee of the Board of Directors of the Company (the "Committee"), shall
govern. Except as otherwise provided herein, all capitalized terms used herein
shall have the meaning given to such terms in the Plan.

ARTICLE II  VESTING

     2.1   Vesting. Subject to the further provision of this Agreement, the
Restricted Stock shall vest with respect to a number of whole shares as close as
possible to the following percentage of the total number of shares of Restricted
Stock granted hereunder on the following dates (each, a "Vesting Date"):

         PERCENTAGE OF TOTAL SHARES                         VESTING DATE
         --------------------------                         ------------

                   33.3 %                        1st anniversary of Grant Date
                   33.3 %                        2nd anniversary of Grant Date
                   33.3 %                        3rd anniversary of Grant Date

ARTICLE III  TERMINATION OF EMPLOYMENT

     3.1   Termination of Employment. In the event that the Grantee's employment
(which for purposes of this Agreement shall include service as a director or
consultant) with the Company or one of the Company's subsidiaries terminates for
any reason, all unvested shares of Restricted Stock, together with any property
in respect of such shares held by the custodian pursuant to Section 4.3 hereof,
shall be forfeited as of the date of such termination of employment and the
Grantee promptly shall return to the Company any certificates evidencing such
shares. For purposes of this Agreement, the Grantee shall be deemed to have
terminated employment or incurred a termination of employment upon (i) the date
the Grantee ceases to be employed by, or to provide consulting services for, the
Company or any Company subsidiary; or (ii) the date the Grantee ceases to be a
Board member, provided, however, that if the Grantee (x) at the time of
reference is both an employee or consultant and a Board member, or (y) ceases to
be engaged as an employee, consultant or Board member and immediately is engaged
in another of such relationships with the Company or any Company subsidiary, the
Grantee shall not be deemed to have a "termination of employment" until the last
of the dates determined pursuant to subparagraphs (i) and (ii) above. The
Committee, in its discretion, may determine whether any leave of absence
constitutes a termination of employment for purposes of this Agreement.

ARTICLE IV   RESTRICTIONS

     4.1   Restrictions on Transferability. Until a share of Restricted Stock
vests, such share may not be sold, assigned, transferred, alienated, commuted,
anticipated, or otherwise disposed of (except by will or the laws of descent and
distribution), or pledged or hypothecated as collateral for a loan or as
security for the performance of any obligation, or be otherwise encumbered, and
are not subject to attachment, garnishment, execution or other legal or
equitable process, and any attempt to do so shall be null and void. If the
Grantee attempts to dispose of or encumber the Grantee's unvested shares of
Restricted Stock, such shares of Restricted Stock, together with any property in
respect of such shares held by the custodian pursuant to Section 4.3 hereof,
shall be forfeited as of the date of such attempted transfer and the Grantee
promptly shall return to the Company any certificates evidencing such shares.

4.2     Issuance of Certificates.

     (a)  Reasonably promptly after the Grant Date, the Company shall issue and
deliver to the Grantee stock certificates, registered in the name of the
Grantee, evidencing the shares of Restricted Stock. Each such certificate may
bear the following legend:

     "THE SALE, TRANSFER, ASSIGNMENT, PLEDGE, HYPOTHECATION ENCUMBRANCE OR OTHER
DISPOSAL OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE
TERMS OF THE NASTECH PHARMACEUTICAL COMPANY INC. 2004 STOCK INCENTIVE PLAN AND A
RESTRICTED STOCK GRANT AGREEMENT BETWEEN NASTECH PHARMACEUTICAL COMPANY INC. AND
THE HOLDER OF RECORD OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE. NO
TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IN CONTRAVENTION OF
SUCH PLAN AND RESTRICTED STOCK GRANT AGREEMENT SHALL BE VALID OR EFFECTIVE.
COPIES OF SUCH AGREEMENT MAY BE OBTAINED BY WRITTEN REQUEST MADE BY THE HOLDER
OF RECORD OF THE CERTIFICATE TO THE SECRETARY OF NASTECH PHARMACEUTICAL COMPANY
INC."

     Such legend shall not be removed from such certificates until such shares
of Restricted Stock vest.

<PAGE>

     (b)  Reasonably promptly after any such shares of Restricted Stock vest
pursuant to Section 2.1 hereof, in exchange for the surrender to the Company of
the certificates evidencing such shares of Restricted Stock delivered to the
Grantee under Section 4.2(a) hereof, the Company shall issue and deliver to the
Grantee (or the Grantee's legal representative, beneficiary or heir)
certificates evidencing such shares of Restricted Stock, free of the legend
provided in Section 4.2(a) hereof, together with any property in respect of such
shares held by the custodian pursuant to Section 4.3 hereof.

     (c)  The Company may require as a condition of the delivery of stock
certificates pursuant to Section 4.2(b) hereof that the Grantee remit to the
Company an amount sufficient in the opinion of the Company to satisfy any
federal, state and other governmental tax withholding requirements related to
the vesting of the shares represented by such certificate.

     (d)  The Grantee shall not be deemed for any purpose to be, or have rights
as, a shareholder of the Company by virtue of the grant of Restricted Stock,
except to the extent a stock certificate is issued therefore pursuant to Section
4.2(a) hereof, and then only from the date such certificate is issued. Upon the
issuance of a stock certificate, the Grantee shall have the rights of a
shareholder with respect to the Restricted Stock, including the right to vote
the shares, subject to the restrictions on transferability, the forfeiture
provisions and the requirement that dividends be held in escrow until the shares
vest, as set forth in this Agreement.

     4.3  Dividends, etc. Unless the Committee otherwise determines, any
property, including cash dividends, received by a Grantee with respect to a
share of Restricted Stock as a result of any dividend, recapitalization, merger,
consolidation, combination, exchange of shares or otherwise and for which the
Grant Date occurs prior to such event but which has not vested as of the date of
such event, will not vest until such share of Restricted Stock vests, and shall
be promptly deposited with the Company or a custodian designated by the Company.
The Company shall or shall cause such custodian to issue to the Grantee a
receipt evidencing the property held by it in respect of the Restricted Stock.

ARTICLE V   MISCELLANEOUS

     5.1  Delays or Omissions. No delay or omission to exercise any right, power
or remedy accruing to any party hereto upon any breach or default of any party
under this Agreement, shall impair any such right, power or remedy of such
party, nor shall it be construed to be a waiver of any such breach or default,
or an acquiescence therein, or of or in any similar breach or default thereafter
occurring, nor shall any waiver of any single breach or default be deemed a
waiver of any other breach or default theretofore or thereafter occurring. Any
waiver, permit, consent or approval of any kind or character on the part of any
party of any breach or default under this Agreement, or any waiver on the part
of any party or any provisions or conditions of this Agreement, must be in a
writing signed by such party and shall be effective only to the extent
specifically set forth in such writing.

     5.2  Right of Discharge Preserved. Nothing in this Agreement shall confer
upon the Grantee the right to continue in the employ or other service of the
Company or one of the Company's subsidiaries, or affect any right which the
Company may have to terminate such employment or service.

     5.3  Integration. This Agreement contains the entire understanding of the
parties with respect to its subject matter. There are no restrictions,
agreements, promises, representations, warranties, covenants or undertakings
with respect to the subject matter hereof other than those expressly set forth
herein. This Agreement, including, without limitation, the Plan, supersedes all
prior agreements and understandings between the parties with respect to its
subject matter.

     5.4  Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which shall
constitute one and the same instrument.

     5.5  Governing Law. This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of Delaware, without regard to
the provisions governing conflict of laws.

     5.6  Grantee Acknowledgment. The Grantee hereby acknowledges receipt of a
copy of the Plan. The Grantee hereby acknowledges that all decisions,
determinations and interpretations of the Committee in respect of the Plan, this
Agreement and the Restricted Stock shall be final and conclusive. IN WITNESS
WHEREOF, the Company has caused this Agreement to be duly executed by its duly
authorized officer, and the Grantee has hereunto signed this Agreement on his
own behalf, thereby representing that he has carefully read and understands this
Agreement and the Plan as of the day and year first written above.

                                      NASTECH PHARMACEUTICAL COMPANY INC.

                                      By:    /s/ Philip C. Ranker
                                             --------------------
                                      Name:  Philip Ranker
                                      Title: CFO

                                      /s/ Timothy M. Duffy
                                      --------------------
                                      Timothy M. Duffy

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}]]