Document:

<PAGE>

                                  Exhibit 10.28

                ADDENDUM X TO THE LEASE AGREEMENT BY AND BETWEEN
                       MAIN LINK BUSINESS PARK ASSOCIATES
                                  ("Landlord")
                                      AND

                   TANOX, INC. (f/k/a Tanox Biosvstems. Inc.)
                   ------------------------------------------
                                   ("Tenant")

                              DATED DECEMBER 4,1986

The Lease Agreement as defined above is hereby amended this 22nd day of October,
2001 as follows, with all obligations under this Addendum to become effective on
the date hereof, except as otherwise specified below. Landlord and Tenant
acknowledge that, except as changed by this Addendum X, the terms of the Lease
Agreement dated December 4, 1986, and Addendum II, III, IV, V, VI and VIII shall
remain in full force and effect.

      Section 1 - Premises: The original Lease Premises of 4,832 square feet,
      --------------------
      expanded by 8,013 square feet in Addendum II to the Lease Agreement, and
      an additional 6,569 square feet in Addendum III to the Lease Agreement,
      and an additional 7,342 square feet in Addendum V to the Lease Agreement,
      and an additional 8,868 square feet in Addendum VIII to the Lease
      Agreement, shall be further expanded by 6,504 square feet ("Expansion"),
      as shown on the attached Exhibit "A". The entire Lease Premises as of the
      date of this Addendum X to the Lease Agreement shall be 42,128 square
      feet.

      Section 2 - Term: The Commencement Date for the 42,128 square feet shall
      -----------------
      be April 1, 2002 and shall expire sixty (60) months following such date on
      March 31, 2007.

      Section 3 - Rent: The monthly rent for the 42,128 square feet, payable in
      -----------------
      accordance with the terms of the Lease Agreement, shall be $29,489.60
      through March 31, 2007, for a total lease contract amount of
      $1,769,376.00. Such rental shall not be subject to C.P.I. escalation.

      Section 3 (a) - Additional Rent; Insert the following:
      -------------------------------
      Tenant shall pay to Landlord, as an inducement for Landlord granting
      Tenant the two (2) additional five (5) year renewal options contained
      herein, additional rent equal to $100,000.00 to be amortized at 8% per
      annum over twelve equal monthly rental payments of $8,698.84 commencing
      April 1, 2002.

<PAGE>

Addendum X - Tanox, Inc.
Page 2

      Section 4 - Maintenance: The second sentence in Paragraph 2 shall be
      ------------------------
      amended to read "Tenant agrees to reimburse to Landlord for such
      maintenance and service at the rate of $10.00 per 1,000 square feet, in
      the amount of $421.74 per month as additional rent." This represents a
      CAM increase of $65.50 for Addendum X, in addition to the $88.68 for
      Addendum VIII, $73.42 for Addendum V, $65.69 for Addendum IV, $80.13 for
      Addendum II and $48.32 for the original space."

      Section 6 - Taxes: The following shall replace the first sentence in the
      ------------------
      paragraph: "Landlord agrees to pay all ad valorem taxes, real estate and
      personal property taxes up to a maximum amount of the taxes for the Base
      Year 2000 ($48,557.60), assessed against the property and improvements
      located thereon. Should the Landlord's cost exceed the Base Year 2000,
      then tenant agrees to pay to Landlord, as additional rent, Tenant's pro
      rata share of the amount of such excess each year."

      Section 10 - Insurance: The following shall replace the second and third
      -----------------------
      sentence in Paragraph 2 and apply to the total premises of 42,128 square
      feet: "Should the Landlord's cost of maintaining insurance herein exceed
      the Base Year 2001 cost ($5,077.00), then Tenant agrees to pay to
      Landlord, as additional rent, Tenant's pro rata share of the amount of
      such excess each year."

      Section 13 - Miscellaneous: Delete all Addendum provisions for renewal
      ---------------------------
      options, expansion options, etc., and add:

      Section 13 - Miscellaneous;
      ---------------------------

      (c) Renewal Option:
      -------------------
      Tenant shall have the right to extend the term of the Lease subject to
      all of the same terms, covenants and conditions for two (2) additional
      periods of five (5) years, commencing on the day after the last day of
      the Addendum X term. The rental rate for each renewal term shall be the
      prevailing Fair Market Value (as defined below) at the time of the
      notice, but in no event shall such rate be less than a ten (10) percent
      increase over the previous lease term rate per square foot, per month,
      nor greater than a thirty (30) percent per square foot, per month,
      including operating expenses as defined in the Lease for the year in
      which the renewal term commences.

      The Fair Market Value ("FMV") shall mean the average of the annual rental
      rates being charged for space of comparable size and condition in
      comparable buildings in Houston, Texas, taking into consideration use,
      location within the applicable building, definition of rentable area, the
      time the applicable rate first became effective, term, building standard
      leasehold improvements provided or to be provided, quality, age and
      location of applicable building, and rental concessions.

<PAGE>

Addendum X - Tanox, Inc.
Page 3

      In order to exercise such renewal option, Tenant shall advise Landlord in
      writing of its desire to renew, no more than nine (9) months and no less
      than six (6) months prior to the end of the original term. Within fifteen
      (15) days thereafter, Landlord shall advise Tenant in writing of its
      estimation of the FMV applicable during the renewal term. Within thirty
      (30) days after Tenant has received such rental information from
      Landlord, Tenant shall give Landlord written notice of its agreement or
      disagreement with Landlord's estimation of FMV.

      In the event Tenant and Landlord are able to reach a written agreement
      regarding FMV within such thirty (30) day period, Tenant shall thereafter
      have fifteen (15) days to notify Landlord in writing of the exercise of
      the Renewal option.

      In the event Tenant and Landlord are unable to agree on the FMV within
      such thirty (30) day period, the FMV shall be determined as follows:

      Landlord and Tenant shall each appoint an appraiser who is knowledgeable
      in commercial property values in the area in which the Premises are
      located and the two appraisers shall, within ten (10) days after their
      selection, agree upon the FMV of the Premises. If they are unable to
      agree, they shall appoint a third appraiser with the same qualifications
      and the three appraisers shall then, within fifteen (15) days thereafter,
      prepare appraisals of the Premises for the Second Option Period;
      provided, however, that if any appraiser's estimate is either (a) less
      than ninety percent (90%) of the average figure, or (b) more than one
      hundred ten percent (110%) of such average, then the FMV of the Premises
      will be the average of the remaining figures which are between ninety
      percent (90%) and one hundred ten percent (110%), otherwise, the middle
      figure of the three appraisals shall be the FMV even if the middle figure
      is the same as the higher or lower figure.  Landlord and Tenant shall
      each bear the cost of its appraiser and shall share equally the cost of
      the third.

      After the FMV has been determined in accordance with such appraisal
      procedures, Landlord shall advise Tenant in writing of the rental rate
      for the renewal term as determined by such appraisal, subject, if
      applicable, to the limitations set forth above. Tenant shall thereafter
      have fifteen (15) days to notify Landlord in writing of the exercise of
      the Renewal option.

      Failure of Tenant to give the appropriate written notice within the
      specified periods of time, as provided above, shall cause the Renewal
      option to be void and of no further effect.

<PAGE>

Addendum X - Tanox, Inc.
Page 4

      (d) Security:

      The Letter of Credit obligations defined in Paragraph 4 of Addendum IV
      and Paragraph 4 of the Lease Agreement shall be deleted in entirety and
      of no further force and effect.

      This Addendum X and the Lease Agreement dated December 4, 1986, and
      Addendum II, III, IV, V, VI and VIII to the Lease Agreement constitute
      the entire understanding between the parties with regard to leasing space
      at 10301 Stella Link, Suite 110, Houston, Harris County, Texas. Default
      under any of the aforesaid agreements will constitute default under all
      of the agreements.

      Except for the foregoing changes, all of the covenants, terms and
      conditions of the prior Lease Agreement, and Addendum II, III, IV, V, VI
      and VIII remain the same.

      MAIN LINK BUSINESS PARK ASSOCIATES
      (Landlord)

     By:  James E. Stubbs                             Attest: John Blickenstaff
        -----------------------
          James E. Stubbs
          Vice President, Amega Corporation
          Managing General Partner

     TANOX, INC.
     (Tenant)

     By:    Michael A. Kelly                          Attest: John Blickenstaff
            ----------------
     Print: Michael A. Kelly
     Title: VP, Finance and CFOEXHIBIT 10.1

                     1ST COLONIAL NATIONAL BANK

                     EMPLOYEE STOCK OPTION PLAN

                       TABLE OF CONTENTS

                                                            Page

Article

Article 1.     PURPOSE OF THE PLAN ......................... 3

Article 2.     DEFINITIONS ................................. 3

Article 3.     ADMINISTRATION OF THE PLAN .................. 4

Article 4.     COMMON STOCK SUBJECT TO THE PLAN ............ 6

Article 5.     STOCK OPTIONS ............................... 6

Article 6.     ELIGIBILITY ................................. 9

Article 7.     TERM AND EXERCISE OF OPTIONS ................10

Article 8.     TERMINATION OF EMPLOYMENT ...................16

Article 9.     ADJUSTMENT PROVISIONS .......................17

Article 10.    GENERAL PROVISIONS ..........................19

Article 1.  PURPOSE OF THE PLAN

     1.1   Purpose - The 1st Colonial National Bank Employee
                 Stock Option Plan (the "Plan") is intended
                 to provide key employees of 1st Colonial
                 National Bank (the "Bank") and any of its
                 Subsidiaries an opportunity to acquire Common
                 Stock of the Bank.  The Plan is designed to
                 help the Bank attract, retain and motivate key
                 employees to make substantial contributions to
                 the success of the business.  Stock Options are
                 granted under the Plan based on the
                 Participant's level of responsibility and
                 performance within the Bank.

     1.2   Stock Options to be Granted - Incentive Stock Options
                 within the meaning of Code Section 422(b) and
                 Nonqualified Stock Options may be granted
                 within the limitations of the Plan herein
                 described.

Article 2.  DEFINITIONS

     2.1   "Agreement" - The written instrument evidencing the
                 grant of an Option.  A Participant may be
                 issued one or more Agreements from time to
                 time, reflecting one or more Options.

     2.2   "Bank" - 1st Colonial National Bank.

     2.3   "Board" - The Board of Directors of the Bank.

     2.4   "Code" - The Internal Revenue Code of 1986, as
                 amended.

     2.5   "Committee" - The Committee which the Board appoints
                 to administer the Plan.

     2.6   "Common Stock" - The common stock of the Bank
                 ($1.00 par value) as described in the Bank's
                 Articles of Association, or such other stock as
                 shall be substituted therefor.

     2.7   "Employee" - Any key employee (including officers) of
                 the Bank or a Subsidiary.

     2.8   "Exchange Act" - The Securities Exchange Act of 1934,
                 as amended.

     2.9   "Incentive Stock Option" - A stock option intended to
                 satisfy the Requirements of Code
                 Section 422(b).

     2.10  "Nonqualified Stock Option" - A stock option other
                 than an incentive stock option.

     2.11  "Optionee" - A Participant who is awarded a Stock
                 Option pursuant to the provisions of the Plan.

     2.12  "Participant" - An Employee selected by the Committee
                 to receive a grant of an Option under the Plan.

     2.13  "Plan" - The 1st Colonial National Bank Employee
                 Stock Option Plan.

     2.14  "Retirement" - The voluntary termination of
                 employment upon or following the attainment of
                 age sixty-five.

     2.15  "Stock Option" or "Option" - An award of a right to
                 purchase Common Stock pursuant to the
                 provisions of the Plan.

     2.16  "Subsidiary" - A subsidiary corporation as defined in
                 Code Section 424(f) that is a subsidiary of the
                 Bank.

Article 3.  ADMINISTRATION OF THE PLAN

     3.1   The Committee - The Plan shall be administered by a
                 committee of the Board (the "Committee")
                 composed of two or more members of the Board,
                 all of whom are "outside directors" within the
                 meaning of Code Section 162(m).  The Board may
                 from time to time remove members from, or add
                 members to, the Committee.  Vacancies on the
                 Committee, howsoever caused, shall be filled by
                 the Board.

     3.2   Powers of the Committee -

                 (a)   The Committee shall be vested with full
                       authority to make such rules and
                       regulations as it deems necessary or
                       desirable to administer the Plan and to
                       interpret the provisions of the Plan,
                       unless otherwise determined by a majority
                       of the disinterested members of the
                       Board.  Any determination, decision or
                       action of the Committee in connection
                       with the construction, interpretation,
                       administration or application of the Plan
                       shall be final, conclusive and binding
                       upon all Optionees and any person
                       claiming under or through an Optionee,
                       unless otherwise determined by a majority
                       of the disinterested members of the
                       Board.

                 (b)   Subject to the terms, provisions and
                       conditions of the Plan and subject to
                       review and approval by a majority of the
                       disinterested members of the Board, the
                       Committee shall have exclusive
                       jurisdiction to:

                          (i)   determine and select, based upon
                                the recommendation of the Bank's
                                Chief Executive Officer (except
                                as to herself or himself), the
                                Employees to be granted Options
                                (it being understood that more
                                than one Option may be granted
                                to the same person);

                          (ii)  determine the number of shares
                                subject to each Option;

                         (iii)  determine the date or dates when
                                the Options will be granted;

                          (iv)  determine the purchase price of
                                the shares subject to each
                                Option in accordance with
                                Article 5 of the Plan;

                          (v)  determine the date or dates when
                               each Option may be exercised
                               within the term of the Option
                               specified pursuant to Article 7
                               of the Plan;

                          (vi)  determine whether or not an
                                Option constitutes an Incentive
                                Stock Option; and

                         (vii)  prescribe the form, which shall
                                be consistent with the Plan, of
                                the Agreement evidencing any
                                Options granted under the Plan.

     3.3   Terms - The grant of an Option under the Plan shall
                 be evidenced by an Agreement and may include
                 any terms and conditions consistent with this
                 Plan, as the Committee may determine.

     3.4   Liability - No member of the Board or the Committee
                 shall be liable for any action or determination
                 made in good faith by the Board or the
                 Committee with respect to this Plan or any
                 Options granted under this Plan.

Article 4.  COMMON STOCK SUBJECT TO THE PLAN

     4.1   Common Stock Authorized - The aggregate number of
                 shares of Common Stock for which Options may be
                 granted under the Plan shall not exceed
                 5% of the issued and outstanding shares of
                 Common Stock on the date the Bank first opens
                 for business.  The limitation established by
                 the preceding sentence shall be subject to
                 adjustment as provided in Article 9 of the
                 Plan.

     4.2   Shares Available - The Common Stock to be issued upon
                 exercise of Options granted under the Plan
                 shall be the Common Stock made available at the
                 discretion of the Board, either from authorized
                 but unissued Common Stock or from Common Stock
                 acquired by the Bank, including shares
                 purchased in the open market.  In the event
                 that any outstanding Option under the Plan for
                 any reason expires or is terminated, the shares
                 of Common Stock allocable to the unexercised
                 portion of such Option may thereafter be
                 regranted subject to option under the Plan.

Article 5.  STOCK OPTIONS

     5.1   Exercise Price - The exercise price of Common Stock
                 shall be 100 percent of the fair market value
                 of one share of Common Stock on the date the
                 Option is granted, except that the purchase
                 price per share shall be 110 percent of such
                 fair market value in the case of an Incentive
                 Stock Option granted to any individual
                 described in Section 6.2 of the Plan.  The
                 exercise price shall be subject
                 to adjustment as provided in Article 9 of the
                 Plan.

     5.2   Limitation on Incentive Stock Options - The aggregate
                 fair market value (determined as of the date an
                 Option is granted) of the stock with respect to
                 which Incentive Stock Options are exercisable
                 for the first time by any individual in any
                 calendar year (under the Plan and all other
                 plans maintained by the Bank and Subsidiaries)
                 shall not exceed $100,000.

     5.3   Determination of Fair Market Value -

                 (a)   During such time as Common Stock is not
                       listed on an established stock exchange
                       or exchanges but is listed in the NASDAQ
                       National Market System, the fair market
                       value per share shall be the closing sale
                       price for the Common Stock on the day the
                       Option is granted.  If no sale of Common
                       Stock has occurred on that day, the fair
                       market value shall be determined by
                       reference to such price for the next
                       preceding day on which a sale occurred.

                 (b)   During such time as the Common Stock is
                       not listed on an established stock
                       exchange or in the NASDAQ National Market
                       System, fair market value per share shall
                       be the mean between the closing dealer
                       "bid" and "asked" prices for the Common
                       Stock for the day of the grant, and if no
                       "bid" and "asked" prices are quoted for
                       the day of the grant, the fair market
                       value shall be determined by reference to
                       such prices on the next preceding day on
                       which such prices were quoted.

                 (c)   If the Common Stock is listed on an
                       established stock exchange, the fair
                       market value shall be deemed to be the
                       closing price of Common Stock on such
                       stock exchange on the day the Option is
                       granted or, if no sale of Common Stock
                       has been made on such stock exchange on
                       that day, the fair market value shall be
                       determined by reference to such price for
                       the next preceding day on which a sale
                       occurred.

                 (d)   In the event that the Common Stock is not
                       traded on an established stock exchange
                       or in the NASDAQ National Market System,
                       and no closing dealer "bid" and "asked"
                       prices are available on the date of a
                       grant, then fair market value will be the
                       price established by the Committee in
                       good faith.

     5.4   Limitation on Grants - Grants to any Employee under
                       this Plan, during any period of 12
                       consecutive months, shall not exceed in
                       the aggregate Options to acquire more
                       than 11,500 shares of Common Stock.  Such
                       limitation shall be subject to adjustment
                       in the manner described in Article 9 and
                       by giving effect to any adjustment in
                       other Options granted during the relevant
                       12 month period.

     5.5   Transferability of Options - Unless otherwise
                       designated by the Committee to the
                       contrary, each Option granted under the
                       Plan shall by its terms be non-
                       transferable by the Optionee (except by
                       will or the laws of descent and
                       distribution), and each Option shall be
                       exercisable during the Optionee's
                       lifetime only by the Optionee, his
                       guardian or legal representative or by
                       such other means as the Committee may
                       approve from time to time, provided that,
                       if the Bank is at the time of such
                       approval subject to the provisions of
                       either Section 16(b) of the Exchange Act
                       or Rule 16b-3 thereunder, as either may
                       be amended from time to time (or any law,
                       rule, regulation or other provision that
                       may hereafter replace such Section or
                       Rule), such means is not inconsistent
                       with or contrary to such Section or Rule
                       or replacement thereof.  An Optionee may
                       also designate a beneficiary to exercise
                       his or her Options after the Optionee's
                       death.  The Committee may amend
                       outstanding Options to provide for
                       transfer, without payment of
                       consideration, to immediate family
                       members of the Optionee or to trusts or
                       partnerships for such family members.

Article 6.  ELIGIBILITY

     6.1   Participation - Options shall be granted only to
                       persons who are considered key employees
                       of the Bank, as determined by the
                       Committee, based upon the recommendation
                       of the Chief Executive Officer (except as
                       to herself or himself) and ratified by a
                       majority of the disinterested members of
                       the Board.

     6.2   Incentive Stock Option Eligibility - Notwithstanding
                       any other provision of the Plan, an
                       individual who owns more than 10 percent
                       of the total combined voting power of all
                       classes of outstanding stock of the Bank
                       or of a Subsidiary shall not be eligible
                       for the grant of an Incentive Stock
                       Option, unless the special requirements
                       set forth in Sections 5.1 and 7.1 of the
                       Plan are satisfied.  For purposes of this
                       Section 6.2, in determining stock
                       ownership, an individual shall be
                       considered as owning the stock owned,
                       directly or indirectly, by or for his
                       brothers and sisters (whether by the
                       whole or half blood), spouse, ancestors
                       and lineal descendants.  Stock owned,
                       directly or indirectly, by or for a
                       corporation, partnership, estate or trust
                       shall be considered as being owned
                       proportionately by or for its
                       shareholders, partners or beneficiaries.
                       "Outstanding stock" shall include all
                       stock actually issued and outstanding
                       immediately before the grant of the
                       Option.  "Outstanding stock" shall not
                       include shares authorized for issue under
                       outstanding Options held by the Optionee
                       or by any other person.

Article 7.  TERM AND EXERCISE OF OPTIONS

     7.1   Termination -

                       (a)   Each Option granted under the Plan
                             shall terminate on the date
                             determined by the Committee and
                             approved by a majority of the
                             disinterested members of the Board,
                             and specified in the Agreement;
                             provided, however, that (i) each
                             intended Incentive Stock Option
                             granted to an individual described
                             in Section 6.2 of the Plan shall
                             terminate not later than five years
                             after the date of the grant,
                             (ii) each other intended Incentive
                             Stock Option shall terminate not
                             later than ten years after the date
                             of grant, and (iii) each Option
                             granted under the Plan which is
                             intended to be a Nonqualified Stock
                             Option shall terminate not later
                             than ten years after the date of
                             grant.  Except as otherwise
                             provided in Section 8.4, each
                             Option granted under the Plan
                             shall become exercisable only after
                             the earlier of the date on which
                             (i) the Optionee has completed one
                             year of continuous employment with
                             the Bank or a Subsidiary
                             immediately following the date of
                             the grant of the Option, but only
                             to the extent of 20% of the shares
                             covered by the Option (the
                             "Anniversary Date"), or (ii) a
                             case the option shall be
                             exercisable with respect to 33.33%
                             of the shares covered thereby for
                             each Anniversary Date that occurred
                             prior to the date of the Change in
                             Control.  (For example, if a Change
                             in Control occurs two and one-half
                             years after the date the option was
                             granted, two anniversary dates
                             would have occurred and, therefore,
                             66.66% of the shares covered by the
                             option would be exercisable.)  With
                             respect to options exercisable
                             under clause (i) above, the Option
                             shall be exercisable with respect
                             to an additional 20% of the shares
                             covered thereby on each successive
                             Anniversary Date after the first
                             Anniversary Date.  The Committee at
                             its discretion may provide further
                             limitations on the exercisability
                             of Options granted under the Plan.
                             An Option may be exercised only
                             during the continuance of the
                             Optionee's employment, except as
                             provided in Article 8.

                       (b)   For purposes of Section 7.1(a), a
                             "Change in Control" shall be deemed
                             to have occurred upon the happening
                             of any of the following:

                             (i)   any "Person" (as such term is
                                   used in Sections 13(d) and
                                   14(d) of the Exchange Act
                                   (except for (1) the Bank or
                                   any Subsidiary, or (2) any of
                                   the Bank's employee benefit
                                   plans (or any trust forming a
                                   part thereof) (the "Benefit
                                   Plan(s)")) is or becomes the
                                   beneficial owner, directly or
                                   indirectly, of the Bank's
                                   securities representing 19.9%
                                   or more of the combined
                                   voting power of the Bank's
                                   then outstanding securities,
                                   other than pursuant to an
                                   excepted transaction
                                   described in Clause (iii)
                                   below;

                             (ii)  a binding written agreement
                                   is executed (and, if legally
                                   required, approved by the
                                   Bank's stockholders)
                                   providing for a sale,
                                   exchange, transfer or other
                                   disposition of substantially
                                   all of the assets of the Bank
                                   to another entity, except to
                                   an entity controlled directly
                                   or indirectly by the Bank;

                             (iii) the stockholders of the Bank
                                   approve a merger,
                                   consolidation, share
                                   exchange, division or other
                                   reorganization of or relating
                                   to the Bank, unless:

                                   (A)  the stockholders of the
                                        Bank immediately before
                                        such merger,
                                        consolidation, share
                                        exchange, division or
                                        reorganization, own,
                                        directly or indirectly
                                        immediately following
                                        such merger,
                                        consolidation, share
                                        exchange, division or
                                        reorganization at least
                                        66-2/3% of the combined
                                        voting power of the
                                        outstanding voting
                                        securities of the Bank
                                        resulting from such
                                        merger, consolidation,
                                        share exchange, division
                                        or reorganization (the
                                        "Surviving Bank") in
                                        substantially the same
                                        proportion as their
                                        ownership of the voting
                                        securities immediately
                                        before such merger,
                                        consolidation, share
                                        exchange, division or
                                        reorganization; and

                                   (B)  the individuals who,
                                        immediately before such
                                        merger, consolidation,
                                        share exchange, division
                                        or reorganization, are
                                        members of the Board
                                        (the "Incumbent Board"),
                                        continue to constitute
                                        at least 66-2/3% of the
                                        Board of Directors of
                                        the Surviving Bank;
                                        provided, however, that
                                        if the election, or
                                        nomination for election
                                        by the Bank's
                                        stockholders of any new
                                        director was approved by
                                        a vote of at least
                                        66-2/3% of the Incumbent
                                        Board, such new director
                                        shall, for the purposes
                                        hereof, be considered a
                                        member of the Incumbent
                                        Board; provided further,
                                        however, that no
                                        individual shall be
                                        considered a member of
                                        the Incumbent Board if
                                        such individual
                                        initially assumed office
                                        as a result of either an
                                        actual or threatened
                                        "Election Contest" (as
                                        described in Rule 14a-11
                                        promulgated under the
                                        Exchange Act) or other
                                        actual or threatened
                                        solicitation of proxies
                                        or consents by or on
                                        behalf of a Person other
                                        than the Board (a "Proxy
                                        Contest") including by
                                        reason of any agreement
                                        intended to avoid or
                                        settle any Election
                                        Contest or Proxy
                                        Contest; and

                                   (C)  no Person (except
                                        (1) the Bank or any
                                        Subsidiary, (2) any
                                        Benefit Plan, (3) the
                                        Surviving Bank or any
                                        subsidiary of the
                                        Surviving Bank, or
                                        (4) any Person who,
                                        immediately prior to
                                        such merger,
                                        consolidation, share
                                        exchange, division or
                                        reorganization had
                                        beneficial ownership of
                                        19.9% or more of the
                                        then outstanding voting
                                        securities of the Bank)
                                        has beneficial ownership
                                        of 19.9% or more of the
                                        combined voting power of
                                        the Surviving Bank's
                                        then outstanding voting
                                        securities immediately
                                        following such merger,
                                        consolidation, share
                                        exchange, division or
                                        reorganization;

                             (iv)  a plan of liquidation or
                                   dissolution of the Bank,
                                   other than pursuant to
                                   bankruptcy or insolvency
                                   laws, is adopted; or

                             (v)   during any period of two
                                   consecutive years,
                                   individuals, who at the
                                   beginning of such period,
                                   constituted the Board cease
                                   for any reason to constitute
                                   at least a majority of the
                                   Board, unless the election,
                                   or the nomination for
                                   election by the Bank's
                                   stockholders, of each new
                                   director was approved by a
                                   vote of at least 66-2/3% of
                                   the directors then still in
                                   office who were directors at
                                   the beginning of the period;
                                   provided, however, that no
                                   individual shall be
                                   considered a member of the
                                   Board at the beginning of
                                   such period if such
                                   individual initially assumed
                                   office as a result of either
                                   an actual or threatened
                                   Election Contest or Proxy
                                   Contest, including by reason
                                   of any agreement intended to
                                   avoid or settle any Election
                                   Contest or Proxy Contest.

                    Notwithstanding the foregoing, a Change in
                    Control shall not be deemed to have occurred
                    if a Person becomes the beneficial owner,
                    directly or indirectly, of securities
                    representing 19.9% or more of the combined
                    voting power of the Bank's then outstanding
                    securities solely as a result of an
                    acquisition by the Bank of its voting
                    securities which, by reducing the number of
                    shares outstanding, increases the
                    proportionate number of shares beneficially
                    owned by such Person; provided, however,
                    that if a Person becomes a beneficial owner
                    of 19.9% or more of the combined voting
                    power of the Bank's then outstanding
                    securities by reason of share repurchases by
                    the Bank and thereafter becomes the
                    beneficial owner, directly or indirectly, of
                    any additional voting securities of the Bank
                    (other than pursuant to a stock split, stock
                    dividend or similar transaction), then a
                    Change in Control shall be deemed to have
                    occurred with respect to such Person under
                    Clause (i).

     7.2   Exercise -

                 (a)   A person electing to exercise an Option
                       shall give written notice to the Bank of
                       such election and of the number of shares
                       he has elected to purchase, in such form
                       as the Committee shall have prescribed or
                       approved, and shall at the time of
                       exercise tender the full purchase price
                       of the shares he has elected to purchase.
                       The purchase price shall be paid in full,
                       in cash, upon the exercise of the Option;
                       provided, however, that in lieu of cash,
                       with the approval of the Committee at or
                       prior to exercise, an Optionee may
                       exercise his Option by tendering to the
                       Bank shares of Common Stock owned by him
                       and having a fair market value equal to
                       the cash exercise price applicable to his
                       Option (with the fair market value of
                       such stock to be determined in the manner
                       provided in Section 5.3 hereof) or by
                       delivering such combination of cash and
                       such shares as the Committee in its sole
                       discretion may approve.  Notwithstanding
                       the foregoing, Common Stock acquired
                       pursuant to the exercise of an Incentive
                       Stock Option may not be tendered as
                       payment unless the holding period
                       requirements of Code Section 422(a)(1)
                       have been satisfied.

                 (b)   A person holding more than one Option at
                       any relevant time may, in accordance with
                       the provisions of the Plan, elect to
                       exercise such Options in any order.

                 (c)   In addition, at the request of the
                       Participant and to the extent permitted
                       by applicable law, the Bank may, in its
                       sole discretion, selectively approve
                       arrangements with a brokerage firm under
                       which such brokerage firm, on behalf of
                       the Participant, shall pay to the Bank
                       the exercise price of the Options being
                       exercised, and the Bank, pursuant to an
                       irrevocable notice from the Participant,
                       shall promptly deliver the shares being
                       purchased to such firm.

Article 8.  TERMINATION OF EMPLOYMENT

     8.1   Retirement - In the event of Retirement, an Option
                  shall lapse at the earlier of the
                  expiration of the term of the Option or
                  three months from the date of
                  Retirement.

     8.2   Death or Disability - In the event of termination of
                  employment due to death or disability (as
                  defined in Code Section 72(m)), the Option
                  shall lapse at the earlier of the expiration
                  of the term of the Option or three months
                  after termination due to any such cause.

     8.3   Other Termination - In the event of termination of
                  employment for any reason other
                  than is described in Section 8.1 or 8.2, all
                  Options shall lapse as of the date of
                  Termination; provided, however, that the
                  Committee may, in its discretion, waive the
                  lapse provisions of this Section 8.3 and
                  permit the exercise of an Option until a date
                  which is the earlier of the expiration of the
                  term of such Option or three months from the
                  date of termination of employment.

Article 9.  ADJUSTMENT PROVISIONS

     9.1   Share Adjustments -

                 (a)   In the event that the shares of Common
                       Stock, as presently constituted, shall be
                       changed into or exchanged for a different
                       number or kind of shares of stock or
                       other securities of the Bank or of
                       another corporation (whether by reason of
                       merger, consolidation, recapitalization,
                       reclassification, split-up, combination
                       of shares or otherwise) or if the number
                       of such shares of stock shall be
                       increased through the payment of a stock
                       dividend, then, subject to the provisions
                       of Subsection (c) below, there shall be
                       substituted for or added to each share of
                       Common Stock which was theretofore
                       appropriated, or which thereafter may
                       become subject to an Option under the
                       Plan, the number and kind of shares of
                       stock or other securities into which each
                       outstanding share of the Common Stock
                       shall be so changed or for which each
                       such share shall be exchanged or to which
                       each such share shall be entitled, as the
                       case may be.  Outstanding Options shall
                       also be appropriately amended as to price
                       and other terms, as may be necessary to
                       reflect the foregoing events.

                 (b)   If there shall be any other change in the
                       number or kind of the outstanding shares
                       of the Common Stock, or of any stock or
                       other securities in which such Common
                       Stock shall have been changed, or for
                       which it shall have been exchanged, and
                       if a majority of the disinterested
                       members of the Board shall, in its sole
                       discretion, determine that such change
                       equitably requires an adjustment in any
                       Option which was theretofore granted or
                       which may thereafter be granted under the
                       Plan, then such adjustment shall be made
                       in accordance with such determination.

                 (c)   The grant of an Option pursuant to the
                       Plan shall not affect in any way the
                       right or power of the Bank to make
                       adjustments, reclassifications,
                       reorganizations or changes of its capital
                       or business structure, to merge, to
                       consolidate, to dissolve, to liquidate or
                       to sell or transfer all or any part of
                       its business or assets.

     9.2   Corporate Changes - A dissolution or liquidation of
                 the Bank, or a merger or consolidation in which
                 the Bank is not the surviving entity, shall
                 cause each outstanding Option to terminate,
                 except to the extent that another corporation
                 may and does in the transaction assume and
                 continue the Option or substitute its own
                 options.

     9.3   Fractional Shares - Fractional shares resulting from
                 any adjustment in Options pursuant to this
                 Article 9 may be settled as a majority of the
                 disinterested members of the Board or the
                 Committee (as the case may be) shall determine.

     9.4   Binding Determination - To the extent that the
                 foregoing adjustments relate to stock or
                 securities of the Bank, such adjustments shall
                 be made by a majority of the disinterested
                 members of the Board, whose determination in
                 that respect shall be final, binding and
                 conclusive.  Notice of any adjustment shall be
                 given by the Bank to each holder of an Option
                 which shall have been adjusted.

Article 10.  GENERAL PROVISIONS

     10.1  Effective Date - The Plan shall become effective upon
                 its adoption by the Board, provided that any
                 grant of an Option is subject to the approval
                 of the Plan by the stockholders of the Bank
                 within 12 months of the Plan's adoption by the
                 Board.

     10.2  Termination of the Plan - Unless previously
                 terminated by the Board of Directors, the Plan
                 shall terminate on, and no Options shall be
                 granted after, the tenth anniversary of its
                 adoption by the Board.

     10.3  Limitation on Termination, Amendment or Modification

                 (a)   The Board may at any time terminate,
                       amend, modify or suspend the Plan,
                       provided that without the approval of the
                       stockholders of the Bank no amendment or
                       modification shall be made by the Board
                       which:

                             (i)   increases the maximum number
                                   of shares of Common Stock as
                                   to which Options may be
                                   granted under the Plan;

                             (ii)  changes the class of persons
                                   eligible to be granted
                                   Options under the Plan; or

                             (iii) otherwise requires the
                                   approval of stockholders
                                   under applicable tax,
                                   securities or other law.

                 (b)   No amendment, modification, suspension or
                       termination of the Plan shall in any
                       manner affect any Option theretofore
                       granted under the Plan without the
                       consent of the Optionee or any person
                       validly claiming under or through the
                       Optionee.

     10.4  No Right to Employment - Neither anything contained
                 in the Plan or in any instrument under the Plan
                 nor the grant of any Option hereunder shall
                 confer upon any Optionee any right to continue
                 in the employ of the Bank or of any Subsidiary
                 or limit in any respect the right of the Bank
                 or of any Subsidiary to terminate the
                 Optionee's employment at any time and for any
                 reason.

     10.5  Withholding Taxes -  The Bank will require that an
                 Optionee, as a condition of the exercise of an
                 Option, or any other person or entity receiving
                 Common Stock upon exercise of an Option, pay or
                 reimburse any taxes which the Bank is required
                 to withhold in connection with the exercise of
                 the Option.

     10.6  Listing and Registration of Shares -

                 (a)   No Option granted pursuant to the Plan
                       shall be exercisable in whole or in part
                       if at any time a majority of the
                       disinterested members of the Board shall
                       determine in its discretion that the
                       listing, registration or qualification of
                       the shares of Common Stock subject to
                       such Option on any securities exchange or
                       under any applicable law, or the consent
                       or approval of any governmental
                       regulatory body, is necessary or
                       desirable as a condition of, or in
                       connection with, the granting of such
                       Option or the issue of shares thereunder,
                       unless such listing, registration,
                       qualification, consent or approval shall
                       have been effected or obtained free of
                       any conditions not acceptable to a
                       majority of the disinterested members of
                       the Board.

10.7  Comptroller of the Currency Requirements - If the Bank's
                 capital falls below the minimum
                 requirements of the Office of the Comptroller
                 of the Currency (the "OCC"), the OCC may direct
                 the Bank to require Optionees to either
                 exercise or forfeit their Options granted
                 pursuant to the Plan.

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