Document:

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                                                                    Exhibit 10.3

                            DIRECTOR STOCK AGREEMENT

          THIS DIRECTOR STOCK AGREEMENT (this "Agreement") is made as of
<<date>>, by and between CompBenefits Corporation, a Delaware corporation (the
"Company"), and <<name>> (the "Director"). Capitalized terms used but not
otherwise defined herein are defined in Section 6 hereof.

          WHEREAS, the Director desires to purchase, and the Company desires to
issue <<common>> shares of the Company's Common Stock, par value $.01 per share
(the "Common Stock") on the terms and subject to the conditions contained in
this Agreement. All of such shares of Common Stock are referred to herein as the
"Director Stock."

          NOW, THEREFORE, in consideration of the mutual covenants contained
herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

          1. Purchase and Sale of the Director Stock.

          (a) Upon execution of this Agreement, the Director will purchase, and
the Company will issue and sell <<common>> shares of Common Stock, at a price of
$<<exerciseprice>> per share. The Company will deliver to the Director copies of
the certificates representing the Director Stock, and the Director will deliver
to the Company a cashier's or certified check or wire transfer of funds in the
aggregate amount of $<<totalcash>>.

          (b) In connection with the purchase and sale of Director Stock
hereunder, the Director represents and warrants to the Company that:

               (i) The Director Stock to be acquired by the Director pursuant to
     this Agreement will be acquired for the Director's own account and not with
     a view to, or intention of, distribution thereof in violation of the
     Securities Act of 1933, as amended from time to time (the "Securities
     Act"), or any applicable state securities laws, and the Director Stock will
     not be disposed of in contravention of the Securities Act or any applicable
     state securities laws.

               (ii) The Director is sophisticated in financial matters and is
     able to evaluate the risks and benefits of the investment in the Director
     Stock.

               (iii) The Director is able to bear the economic risk of his
     investment in the Director Stock for an indefinite period of time because
     the Director Stock has not been registered under the Securities Act and,
     therefore, cannot be sold unless subsequently registered under the
     Securities Act or an exemption from such registration is available.

               (iv) This Agreement constitutes the legal, valid and binding
     obligation of the Director, enforceable in accordance with its terms, and
     the execution, delivery and performance of this Agreement by the Director
     does not and will not conflict with,

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     violate or cause a breach of any agreement, contract or instrument to which
     the Director is a party or any judgment, order or decree to which the
     Director is subject.

          (c) Within 30 days after the Director purchases any Director Stock
from the Company, the Director will make an effective election with the Internal
Revenue Service under Section 83(b) of the Internal Revenue Code and the
regulations promulgated thereunder in the form of Annex A attached hereto.

          (d) Concurrently with the execution of this Agreement, (i) the
Director will execute in blank stock transfer powers in the form of Annex B
attached hereto (the "Stock Powers") with respect to the Director Stock and
shall deliver such Stock Powers to the Company. The Stock Powers shall authorize
the Company to assign, transfer and deliver the securities subject to such Stock
Powers to an acquiror in the event the Repurchase Option (as defined below) is
exercised and under no other circumstances, and (ii) the Director's spouse shall
execute the consent in the form of Annex C attached hereto.

          2. Vesting of Director Stock.

          (a) If the Director ceases for any reason to be a Director of the
Company and its Subsidiaries on a date other than an anniversary date of the
date of this Agreement prior to the fifth anniversary of the date of this
Agreement, the cumulative percentage of Director Stock to become vested will be
determined as follows:

<TABLE>
<CAPTION>
                     Date                       Cumulative Percentage
---------------------------------------------   ---------------------
<S>                                             <C>
The first anniversary date of this Agreement              20%
The second anniversary date of this Agreement             40%
The third anniversary date of this Agreement              60%
The fourth anniversary date of this Agreement             80%
The fifth anniversary date of this Agreement             100%
</TABLE>

          (b) Upon the occurrence of a Sale of the Company, if as of such date
the Director is still a Director of the Company or any of its Subsidiaries, all
shares of Director Stock which have not yet become vested shall become vested at
the time of such event.

          (c) Any shares of Director Stock which have not been designated as
subject to repurchase pursuant to a Repurchase Notice or Supplemental Repurchase
Notice on the date which is six months and one day following the Termination and
which have not yet become vested shall become vested on such date.

Shares of Director Stock which have become vested pursuant to Sections 2(a),
2(b) or 2(c) above are referred to herein as "Vested Shares," and all other
shares of Director Stock are referred to herein as "Unvested Shares."

          3. Repurchase Option.

                                       3

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          (a) In the event the Director ceases for any reason to be a Director
of the Company and its Subsidiaries for any reason (the "Termination"), the
Director Stock (whether held by the Director or one or more of the Director's
transferees, other than the Company) will be subject to repurchase by the
Company and the Significant Stockholders pursuant to the terms and conditions
set forth in this Section 3 (the "Repurchase Option"); provided that,
notwithstanding anything herein to the contrary, in the event the Termination
occurs as a result of the Director's death or Disability, then the Repurchase
Option shall only apply with respect to the Unvested Shares and shall not apply
with respect to any Vested Shares.

          (b) In the event of Termination, (i) the purchase price for each
Unvested Share will be the Director's Original Cost for such share, and (ii)
subject to the proviso in Section 3(a) above, the purchase price for each Vested
Share will be the Fair Market Value for such share.

          (c) The Company's board of directors (the "Board") may elect to
purchase all or any portion of any class of the Unvested Shares and the Vested
Shares by delivering written notice (the "Repurchase Notice") to the holder or
holders of the Director Stock within six months after the Termination. The
Repurchase Notice will set forth the number of Unvested Shares and Vested Shares
to be acquired from each holder, the aggregate consideration to be paid for such
shares and the time and place for the closing of the transaction. If for any
reason the Company does not elect to purchase all of the Director Stock pursuant
to the Repurchase Option, the Significant Stockholders shall be entitled to
exercise the Repurchase Option for the shares of Director Stock the Company has
not elected to purchase (the "Available Shares"). As soon as practicable after
the Company has determined that there will be Available Shares, but in any event
within six months after the Termination, the Company shall give written notice
(the "Option Notice") to each Significant Stockholder setting forth the number
of Available Shares and the purchase price for the Available Shares. Each
Significant Stockholder may elect to purchase any or all of the Available Shares
by giving written notice to the Company within 30 days after the Option Notice
has been given to them by the Company. If more than one Significant Stockholder
elects to purchase the Available Shares, the Available Shares will be allocated
among such electing stockholders pro rata according to the number of Common
Stockholder Shares (as defined in the Stockholders Agreement) owned by each such
electing stockholder. As soon as practicable, and in any event within ten days,
after the expiration of the 30-day period set forth above, the Company shall
notify each holder of Director Stock as to the number of shares being purchased
from such holder by the Significant Stockholders (the "Supplemental Repurchase
Notice"). At the time the Company delivers the Supplemental Repurchase Notice to
the holder(s) of Director Stock, the Company shall also deliver written notice
to each Significant Stockholder setting forth the number of shares such
Significant Stockholder is entitled to purchase, the aggregate purchase price
and the time and place of the closing of the transaction.

          (d) The closing of the purchase of the Director Stock pursuant to the
Repurchase Option shall take place on the date designated by the Company in the
Repurchase Notice or Supplemental Repurchase Notice, which date shall not be
more than one month nor

                                       4

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less than five days after the delivery of the later of either such notice to be
delivered. The Company will pay for the Director Stock to be purchased by it
pursuant to the Repurchase Option first by offsetting amounts outstanding under
any bona fide debts owed by the Director to the Company relating to the purchase
of the Director Stock and second by delivery of a check or wire transfer of
funds in an amount equal to the balance of the purchase price for such shares;
provided that if such payment (or the related dividend of funds from one or more
of the Company's Subsidiaries to the Company, as the case may be) would (i)
cause the Company or such Subsidiary to violate applicable law, (ii) cause the
Company or such Subsidiary to breach any agreement to which it is a party
relating to the indebtedness for borrowed money or any other material agreement,
or (iii) otherwise be imprudent in view of the financial condition of the
Company or such Subsidiary (clauses (i), (ii), and (iii) are collectively
referred to herein as the "Reasons for Deferral"), then the Company shall have
the right to pay such amount as soon as no Reason for Deferral exists so long as
the Company also pays interest at the prime rate (as published in The Wall
Street Journal on the date of Termination) plus 2% for the deferral period at
the time when such payment is made. Each Significant Stockholder will pay for
the Director Stock to be purchased by it pursuant to the Repurchase Option by
delivery of a check or wire transfer of funds in the aggregate amount of the
purchase price for such shares. The Company and the Significant Stockholders
will be entitled to receive customary representations and warranties from the
sellers as to good title and to require all sellers' signatures be guaranteed.

          (e) The right of the Company and the Significant Stockholders to
repurchase Vested Shares pursuant to this Section 3 shall terminate upon the
first to occur of the Sale of the Company or a Qualified Public Offering.

          4. Legend. The certificates representing the Director Stock shall bear
the following legend:

          "THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
          RESTRICTIONS ON TRANSFER, CERTAIN REPURCHASE OPTIONS AND CERTAIN OTHER
          AGREEMENTS SET FORTH IN A DIRECTOR STOCK AGREEMENT BETWEEN THE COMPANY
          AND THE INITIAL HOLDER OF THE SECURITIES REPRESENTED BY THIS
          CERTIFICATE, DATED AS OF <<dateallcaps>>, AS AMENDED AND MODIFIED FROM
          TIME TO TIME. A COPY OF SUCH AGREEMENT MAY BE OBTAINED BY THE HOLDER
          HEREOF AT THE COMPANY'S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE."

The Company shall imprint such legend on certificates evidencing Director Stock
outstanding as of the date hereof. The legend set forth above shall be removed
from the certificates evidencing any shares which cease to be Director Stock in
accordance with Section 6 below.

          [5. Non-Disclosure and Use of Proprietary Information.

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          (a) The Director recognizes and acknowledges that the Company's
Proprietary Information (as defined below), as they may exist from time-to-time,
are valuable, special and unique assets of the Company. The Director further
acknowledges that access to such Proprietary Information of the Company is
essential to the performance of the Director's duties to the Company. Therefore,
in order to obtain access to such Proprietary Information, the Director agrees
that the Director will not, in whole or in part, disclose such Proprietary
Information to any person, firm, corporation, association or any other entity
for any reason or purpose whatsoever, nor will the Director make use of any such
information for the Director's own purposes or for the benefit of any person,
firm, corporation, association or other entity (except the Company). For
purposes of this Agreement, the term "Proprietary Information" means information
that is not generally known to the public and that is used, developed or
obtained by the Company in connection with its business, including but not
limited to (i) products or services, (ii) fees, costs and pricing structures,
(iii) designs, (iv) analysis, (v) drawings, photographs and reports, (vi)
computer software, including operating systems, applications and program
listings, (vii) flow charts, manuals and documentation, (viii) data bases, (ix)
accounting and business methods, (x) inventions, devices, new developments,
methods and processes, whether patentable or unpatentable and whether or not
reduced to practice, (xi) customers and clients and customer or client lists,
(xii) copyrightable works, (xiii) all technology and trade secrets, and (xiv)
all similar and related information in whatever form. These restrictions will
not apply to any Proprietary Information which: (A) is in the public domain,
provided that the Director was not responsible, directly or indirectly, for such
Proprietary Information entering the public domain without the Company's
consent; (B) becomes known to the Director, during the term of this Agreement,
from a third party not known to the Director to be under a confidential
relationship with the Company; or (C) is required by law or governmental
tribunal to be disclosed; provided, however, that if the Director is legally
compelled to disclose any Proprietary Information, the Director will provide the
Company with prompt written notice of such legal compulsion so that the Company
may seek a protective order or other available remedy.

          (b) Return of Confidential Information. The Director acknowledges that
as a result of the Director's relationship with the Company, the Director may
come into the possession and control of Proprietary Information, such as
proprietary documents, drawings, specifications, manuals, notes, computer
programs, or other proprietary material. The Director acknowledges, warrants and
agrees that the Director will return to the Company all such items and any
copies or excerpts thereof, and any other properties, client lists, client
contracts, files or documents obtained as a result of the Director's
relationship with the Company, immediately upon termination of the Director's
relationship with the Company.

                                       6

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          6. Definitions.

          "Director Stock" shall continue to be Director Stock in the hands of
any holder other than the Director (except for the Company and the Significant
Stockholders and except for transferees in a Public Sale (it being understood
that Unvested Shares cannot be transferred in a Public Sale)), and except as
otherwise provided herein, each such other holder of Director Stock shall
succeed to all rights and obligations attributable to the Director as a holder
of Director Stock hereunder. Director Stock shall also include shares of the
Company's capital stock issued with respect to Director Stock by way of a stock
split, stock dividend or other recapitalization.

          "Disability" means the Director is mentally or physically
incapacitated or disabled so as to be unable to perform his duties to the
Company as determined by the Board in good faith.

          "Fair Market Value" of any share of Director Stock means the composite
closing price of the sales of such class of stock on the securities exchanges on
which such stock may at the time be listed (as reported in The Wall Street
Journal), or, if there have been no sales on any such exchange on any day, the
average of the highest bid and lowest asked prices on all such exchanges at the
end of such day, or, if such class of stock is not so listed, the closing price
(or last price, if applicable) of sales of such class of stock on The Nasdaq
Stock Market (as reported in The Wall Street Journal), or, if such class of
stock is not quoted in The Nasdaq Stock Market but is traded over-the-counter,
the average of the highest bid and lowest asked prices on such day in the
over-the-counter market as reported by the National Quotation Bureau
Incorporated, or any similar successor organization, in each such case averaged
over a period of 21 days consisting of the day as of which the Fair Market Value
is being determined and the 20 consecutive business days before such day. If at
any time such class of Director Stock is not listed on any securities exchange,
quoted in The Nasdaq Stock Market, or quoted in the over-the-counter market, the
"Fair Market Value" of such class of stock shall mean the fair market value of
such class of stock, as between a willing buyer and a willing seller, taking
into account all relevant factors determinative of value (including the lack of
liquidity of such stock due to the Company's status as a privately held
corporation, but without regard to any discounts for minority interests), using
valuation techniques then prevailing in the securities industry (e.g.,
discounted cash flows, and/or comparable companies) and assuming full disclosure
of all relevant information and a reasonable period of time for effectuating
such sale, as determined by the Board in good faith. Regardless of when a
transaction based on a Fair Market Value valuation is executed, Fair Market
Value shall be determined as of the date of the Termination of the Director.

          "Merger" means the merger of TAGTCR with and into the Company pursuant
to the terms, and subject to the conditions, set forth in the Amended and
Restated Agreement and Plan of Merger, dated as of July 28, 1998 and amended and
restated as of January 18, 1999, by and among the Company, TAGTCR and others, as
amended from time to time.

                                       7

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          "Original Cost" of each share of Common Stock purchased hereunder
shall be equal to $0.50 (as proportionately adjusted for all subsequent stock
splits, stock dividends and other recapitalizations).

          "Person" means an individual, a partnership, a corporation, a limited
liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization and a governmental entity or any
department, agency or political subdivision thereof.

          "Qualified Public Offering" means the sale, in an underwritten public
offering registered under the Securities Act, of shares of the Company's Common
Stock having an offering price to the public of not less than $25.0 million.

          "Sale of the Company" means (i) any sale, transfer or issuance or
series of sales, transfers and/or issuances of capital stock of the Company by
the Company or any holders thereof which results in any Person or group of
Persons (as the term "group" is used under the Securities Exchange Act of 1934,
as amended), other than Persons who are stockholders of the Company as of
immediately after the Merger, owning capital stock of the Company possessing the
voting power (under ordinary circumstances) to elect a majority of the Board,
and (ii) any sale or transfer of all or substantially all of the assets of the
Company and its Subsidiaries.

          "Significant Stockholders" has the meaning accorded to such term in
the Stockholders Agreement.

          "Stockholders Agreement" means the Stockholders Agreement, dated as of
June 17, 1999, by and among the Company, Golder, Thoma, Cressey, Rauner Fund V,
L.P., GTCR Associates V, TA/Advent VIII L.P., Advent Atlantic and Pacific III,
TA Executives Fund LLC, TA Investors LLC, David R. Klock, Phyllis A. Klock, and
others, as amended, modified and supplemented from time to time.

          "Subsidiary" or "Subsidiaries" means, with respect to any Person, any
corporation, limited liability company, partnership, association, or other
business entity of which (i) if a corporation, a majority of the total voting
power of shares of stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers, or trustees thereof
is at the time owned or controlled, directly or indirectly, by such Person or
one or more of the other Subsidiaries of such Person or a combination thereof,
or (ii) if a limited liability company, partnership, association, or other
business entity, a majority of the partnership or other similar ownership
interest thereof is at the time owned or controlled, directly or indirectly, by
any Person or one or more Subsidiaries of such Person or entity or a combination
thereof. For purposes hereof, a Person or Persons shall be deemed to have a
majority ownership interest in a limited liability company, partnership,
association, or other business entity if such Person or Persons shall be
allocated a majority of limited liability company, partnership, association, or
other business entity gains or losses or shall be or control any managing
director or general partner of such limited liability company, partnership,
association, or other business entity.

                                       8

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          7. General Provisions.

          (a) Transfers in Violation of Agreement. Any transfer or attempted
transfer of any Director Stock in violation of any provision of this Agreement
shall be void, and the Company shall not record such transfer on its books or
treat any purported transferee of such Director Stock as the owner of such stock
for any purpose.

          (b) Amendment and Waiver. The provisions of this Agreement may be
amended and waived only with the prior written consent of the Company, the
Director and the Significant Stockholders.

          (c) Severability. Whenever possible, each provision of this Agreement
will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be invalid, illegal or
unenforceable in any respect under any applicable law or rule in any
jurisdiction, such invalidity, illegality or unenforceability will not affect
any other provision or any other jurisdiction, but this Agreement will be
reformed, construed and enforced in such jurisdiction as if such invalid,
illegal or unenforceable provision had never been contained herein.

          (d) Entire Agreement. This Agreement, those documents expressly
referred to herein and other documents of even date herewith embody the complete
agreement and understanding among the parties and supersede and preempt any
prior understandings, agreements or representations by or among the parties,
written or oral, which may have related to the subject matter hereof in any way.

          (e) Successors and Assigns. Except as otherwise provided herein, this
Agreement shall bind and inure to the benefit of and be enforceable by the
Director, the Company, the Significant Stockholders and their respective
successors and assigns (including subsequent holders of Director Stock);
provided that the rights and obligations of the Director under this Agreement
shall not be assignable except in connection with a permitted transfer of the
Director Stock hereunder.

          (f) Third-Party Beneficiaries. Certain provisions of this Agreement
are entered into for the benefit of and shall be enforceable by the Significant
Stockholders as provided herein.

          (g) Counterparts. This Agreement may be executed in separate
counterparts, each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.

          (h) Remedies. Each of the parties to this Agreement (and the
Significant Stockholders) will be entitled to enforce its rights under this
Agreement specifically, to recover damages and costs (including attorney's fees)
caused by any breach of any provision of this Agreement and to exercise all
other rights existing in its favor. The parties hereto agree and

                                       9

<PAGE>

acknowledge that money damages may not be an adequate remedy for any breach of
the provisions of this Agreement and that any party may in its sole discretion
apply to any court of law or equity of competent jurisdiction (without posting
any bond or deposit) for specific performance and/or other injunctive relief in
order to enforce or prevent any violations of the provisions of this Agreement.

          (i) Notices. Any notice provided for in this Agreement shall be in
writing and shall be either (i) personally delivered, (ii) sent by registered or
certified mail (return receipt requested and postage prepaid), (iii) sent by a
reputable overnight courier service (charges prepaid), or (iv) sent by
facsimile, in each case, to the recipient at the address set forth below. Any
Person may change its address for purposes of this Agreement by providing prior
notice of such change to the other parties hereto in accordance with this
Section. Notices will be deemed to have been given hereunder (i) when delivered
personally, (ii) three days after being mailed, (iii) one day after deposit with
a reputable overnight courier service, or (iv) in the cases of notices set by
facsimile, when receipt is electronically acknowledged.

          If to the Company:

               CompBenefits Corporation
               100 Mansell Court East, Suite 400
               Roswell, Georgia  30076
               Attention:  President
               Facsimile:  (770) 992-4349

               with copies to:

               TA Associates, Inc.
               High Street Tower, Suite 2500
               125 High Street
               Boston, MA  02110
               Attention:  Roger B. Kafker
               Facsimile:  (617) 574-6728

          If to the Director:

               <<name>>
               <<address>>
               <<citystatezip>>

                                       10

<PAGE>

          (h) Governing Law. All questions concerning the construction, validity
and interpretation of this Agreement shall be governed by and construed in
accordance with the internal laws of the State of Delaware, without giving
effect to any choice of law or other conflict of law provision or rule (whether
of the State of Delaware or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than the State of Delaware.

          (i) No Strict Construction. The language used in this Agreement shall
be deemed to be the language chosen by the parties hereto to express their
mutual intent, and no rule of strict construction shall be applied against any
party.

          (j) Business Days. If any time period for giving notice or taking
action hereunder expires on a day which is a Saturday, Sunday or legal holiday
in the state in which the Company's chief executive office is located, the time
period shall automatically be extended to the business day immediately following
such Saturday, Sunday or legal holiday.

          (k) Construction. Whenever the context requires, each term stated in
either the singular or the plural shall include the singular and the plural, and
pronouns stated in either the masculine, the feminine or the neuter gender shall
include the masculine, feminine and neuter. All references to Sections and
Paragraphs refer to sections and paragraphs of this Agreement. The use of the
"including" in this Agreement shall be by way of example rather than limitation.

          (l) Descriptive Headings. The descriptive headings of this Agreement
are inserted for convenience only and do not constitute a party of this
Agreement.

          IN WITNESS WHEREOF, the parties hereto have executed this Director
Stock Agreement on the date first written above.

                                        COMPBENEFITS CORPORATION

                                        By:
                                            ------------------------------------
                                        Its:
                                             -----------------------------------

                                        ----------------------------------------
                                        <<name>>

                                       11

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                                                                         ANNEX A

                                                                        <<date>>

                       ELECTION TO INCLUDE STOCK IN GROSS
                     INCOME PURSUANT TO SECTION 83(B) OF THE
                              INTERNAL REVENUE CODE

          The undersigned purchased shares of Common Stock, par value $.01 per
share (the "Shares"), of CompBenefits Corporation, a Delaware corporation (the
"Company") on <<date>>.

          Under certain circumstances, the Company has the right to repurchase
certain of the Shares at cost from the undersigned (or from the holder of the
Shares, if different from the undersigned) should the undersigned cease to be a
Director of the Company and its subsidiaries or upon certain other events.
Hence, the Shares are subject to a substantial risk of forfeiture and are
non-transferable. The undersigned desires to make an election to have the Shares
taxed under the provision of Code ??83(b) at the time he purchased the Shares.

          Therefore, pursuant to Code ??83(b) and Treasury Regulation ??1.83-2
promulgated thereunder, the undersigned hereby makes an election, with respect
to the Shares (described below), to report as taxable income for calendar year
1999 the excess (if any) of the Shares' fair market value on <<date>> over
purchase price thereof.

          The following information is supplied in accordance with Treasury
Regulation ??1.83-2(e):

          1. The name, address and social security number of the undersigned:

               <<name>>
               <<address>>
               <<citystatezip>>

          2. A description of the property with respect to which the election is
being made: <<common>> shares of Common Stock, par value $.01 per share, of the
Company.

          3. The date on which the property was transferred: <<date>>. The
taxable year for which such election is made: calendar <<year>>.

          4. The restrictions to which the property is subject: If during the
first five years after the closing the undersigned ceases to be a Director of
the Company for any reason, the unvested portion of the Shares will be subject
to repurchase by the Company at cost. 20% of the Shares will become vested on
the first anniversary date of this Agreement, and on each anniversary thereof,
with 100% of the Shares vesting on the fifth anniversary date of this Agreement;
provided that all of the Shares will become vested upon a sale of the Company.

                                       12

<PAGE>

          5. The fair market value on <<date>> of the property with respect to
which the election is being made, determined without regard to any lapse
restrictions: $<<exerciseprice>> per share of Common Stock.

          6. The amount paid for such property: $<<exerciseprice>> per share of
Common Stock.

          A copy of this election has been furnished to the Secretary of the
Company pursuant to Treasury Regulations ??1.83-2(e)(7).

Dated:<<date>>
                                        ----------------------------------------
                                        <<name>>

                                       13

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                                                                         ANNEX B

                      ASSIGNMENT SEPARATE FROM CERTIFICATE

          FOR VALUE RECEIVED, <<name>> does hereby sell, assign and transfer
unto ________________________, <<common>> shares of the Common Stock, par value
$.01 per share, of CompBenefits Corporation, a Delaware corporation (the
"Corporation"), standing in the undersigned's name on the books of the
Corporation represented by Certificate Nos. ___________ herewith and does hereby
irrevocably constitute and appoint each officer of each of the Corporation,
Golder, Thoma, Cressey, Rauner, Inc. and TA Associates, Inc. (acting alone or
with one or more other such officers) as attorney to transfer the said stock on
the books of the Corporation with full power of substitution in the premises.

Dated: ________________                 ----------------------------------------
                                        <<name>>

                                       14

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                                                                         ANNEX C

                                 SPOUSAL CONSENT

          The undersigned spouse of the Director hereby acknowledges that I have
read the foregoing Director Stock Agreement and that certain Pledge Agreement
and Stockholders Agreement referred to therein, each executed by the Director
and dated as of the date hereof, and that I understand their contents. I am
aware that the foregoing Director Stock Agreement, Pledge Agreement and
Stockholders Agreement provide for the repurchase of my spouse's securities
under certain circumstances and impose other restrictions on the transfer of
such securities. I agree that my spouse's interest in these securities is
subject to these agreements and any interest I may have in such securities shall
be irrevocably bound by these agreements and further that my community property
interest, if any, shall be similarly bound by these agreements.

                                        ----------------------------------------
                                        Spouse

                                        ----------------------------------------
                                        Witness

                                       15<PAGE>

                                                                    Exhibit 10.4

                  COMPBENEFITS CORPORATION AMENDED AND RESTATED
                                STOCK OPTION PLAN

                                    ARTICLE I

                                 Purpose of Plan

          The Stock Option Plan (the "Plan") of CompDent Corporation, n/k/a
CompBenefits Corporation (the "Company"), adopted by the Board of Directors of
the Company on June 17, 1999, for directors, officers and key employees of, and
certain other key individuals who perform services for, the Company is intended
to advance the best interests of the Company by providing those persons who have
responsibility for its management and growth with additional incentives by
allowing them to acquire an ownership interest in the Company and thereby
encouraging them to contribute to the success of the Company and to continue to
provide their services to the Company. The availability and offering of stock
options under the Plan also increases the Company's ability to attract and
retain individuals of exceptional managerial talent upon whom, in large measure,
the sustained progress, growth and profitability of the Company depends.

                                   ARTICLE II

                                   Definitions

          For purposes of the Plan, except where the context clearly indicates
otherwise, the following terms shall have the meanings set forth below:

          "Board" shall mean the Board of Directors of the Company.

          "Cause" means any of the following: (i) theft or embezzlement, or
attempted theft or embezzlement, of money or property of the Company or any
subsidiary, perpetration or attempted perpetration of fraud, or participation in
a fraud or attempted fraud, on the Company or any subsidiary or unauthorized
appropriation of, or attempt to misappropriate, any tangible or intangible
assets or property of the Company or any subsidiary, (ii) any act or acts of
disloyalty, misconduct or moral turpitude injurious to the interest, property,
operations, business or reputation of the Company or any subsidiary or
conviction of a crime the commission of which results in injury to the Company
or any subsidiary or (iii) failure or inability (other than by reason of
Disability) to carry out effectively a Participant's duties and obligations to
the Company and its subsidiaries or to participate effectively and actively in
the management of the Company and its subsidiaries, as determined in the
reasonable judgment of the Board.

          "Code" shall mean the Internal Revenue Code of 1986, as amended, and
any successor statute.

<PAGE>

          "Committee" shall mean the committee of the Board which may be
designated by the Board to administer the Plan. The Committee shall be composed
of two or more directors as appointed from time to time to serve by the Board.

          "Common Stock" shall mean the Company's Common Stock, par value $.01
per share, or if the outstanding Common Stock is hereafter changed into or
exchanged for different stock or securities of the Company, such other stock or
securities.

          "Company" shall mean CompBenefits Corporation, a Delaware corporation,
and (except to the extent the context requires otherwise) any subsidiary
corporation of CompBenefits Corporation, a Delaware corporation as such term is
defined in Section 425(f) of the Code.

          "Disability" shall mean the inability, due to illness, accident,
injury, physical or mental incapacity or other disability, of any Participant to
carry out effectively his duties and obligations to the Company or to
participate effectively and actively in the management of the Company for a
period of at least 90 consecutive days or for shorter periods aggregating at
least 120 days (whether or not consecutive) during any twelve-month period, as
determined in the reasonable judgment of the Board.

          "Fair Market Value" of the Common Stock shall be determined by the
Committee or, in the absence of the Committee, by the Board.

          "Participant" shall mean any director, officer or key employee of, or
any other key individual who performs services for, the Company who has been
selected to participate in the Plan by the Committee or the Board.

          "Person" means an individual, a partnership, a corporation, a limited
liability company, an association, a joint stock company, a trust, a joint
venture, an unincorporated organization and a governmental entity or any
department, agency or political subdivision thereof.

          "Sale of the Company" means the sale to a third party or affiliated
group of third parties of (i) capital stock of the Company possessing the voting
power to elect a majority of the Company's board of directors (whether by
merger, consolidation or sale or transfer of the Company's capital stock) or
(ii) all or substantially all of the Company's assets determined on a
consolidated basis; provided that in any event, the term "Sale of the Company"
shall not include an offering of securities to the public.

                                      -2-

<PAGE>

                                   ARTICLE III

                                 Administration

          The Plan shall be administered by the Committee; provided that if for
any reason the Committee shall not have been appointed by the Board, all
authority and duties of the Committee under the Plan shall be vested in and
exercised by the Board. Subject to the limitations of the Plan, the Committee
shall have the sole and complete authority to: (i) select Participants, (ii)
grant Options (as defined in Article IV below) to Participants in such forms and
amounts as it shall determine (including, without limitation, with respect to
designating Options as Incentive Stock Options (as defined in Article V below)
or nonqualified stock options), (iii) impose such limitations, restrictions and
conditions upon such Options as it shall deem appropriate, (iv) interpret the
Plan and adopt, amend and rescind administrative guidelines and other rules and
regulations relating to the Plan, (v) correct any defect or omission or
reconcile any inconsistency in the Plan or in any Option granted hereunder and
(vi) make all other determinations and take all other actions necessary or
advisable for the implementation and administration of the Plan, subject to such
limitations as may be imposed by the Code on the grant of Incentive Stock
Options or other applicable law. The Committee's determinations on matters
within its authority shall be conclusive and binding upon the Participants, the
Company and all other Persons. All expenses associated with the administration
of the Plan shall be borne by the Company. The Committee may, as approved by the
Board and to the extent permissible by law, delegate any of its authority
hereunder to such persons as it deems appropriate.

                                   ARTICLE IV

                         Limitation on Aggregate Shares

          The number of shares of Common Stock with respect to which options may
be granted under the Plan (the "Options") and which may be issued upon the
exercise thereof shall not exceed, in the aggregate, 1,200,000 shares; provided
that the type and the aggregate number of shares which may be subject to Options
shall be subject to adjustment in accordance with the provisions of paragraph
6.8 below, and further provided that to the extent any Options expire
unexercised or are canceled, terminated or forfeited in any manner without the
issuance of Common Stock thereunder, or if any Options are exercised and the
shares of Common Stock issued thereunder are repurchased by the Company, such
shares shall again be available under the Plan. The 1,200,000 shares of Common
Stock available under the Plan may be either authorized and unissued shares,
treasury shares or a combination thereof, as the Committee shall determine.

                                    ARTICLE V

                                     Awards

          V.1 Options. The Committee may grant Options to Participants in
accordance with this Article V. In no event shall the aggregate Fair Market
Value per share of all Common Stock (determined at the time the Option is
awarded) with respect to which Incentive Stock Options are exercisable for the
first time by an individual during any calendar year (under all plans of the
Company and its subsidiaries) exceed $100,000.

                                      -3-

<PAGE>

          V.2 Form of Option. Options granted under this Plan may be "Incentive
Stock Options" within the meaning of Section 422 of the Code or nonqualified
stock options. Unless otherwise indicated, references herein to "Options" shall
include Incentive Stock Options and nonqualified stock options.

          V.3 Exercise Price. The option exercise price per share of Common
Stock shall be fixed by the Committee at the date of grant. If the Option is
intended to be an Incentive Stock Option, the option exercise price per share of
Common Stock shall be fixed by the Committee at not less than 100% of the Fair
Market Value of a share of Common Stock on the date of grant (or 110% of such
Fair Market Value if the holder of such Incentive Stock Option owns Common Stock
possessing more than ten percent (10%) of the combined voting power of all
classes of stock of the Company or any subsidiary determined with regard to the
attribution rules of Section 424(d) of the Code).

          V.4 Exercisability. Options shall be exercisable at such time or times
as the Committee shall determine at or subsequent to grant.

          V.5 Payment of Exercise Price. Options shall be exercised in whole or
in part by written notice to the Company (to the attention of the Company's
Secretary) accompanied by payment in full of the option exercise price. Payment
of the option exercise price shall be made in cash (including check, bank draft
or money order) or, in the discretion of the Committee, by delivery of a
promissory note or by payroll deductions (if in accordance with policies
approved by the Board).

          V.6 Terms of Options. The Committee shall determine the term of each
Option, which term shall in no event exceed ten years from the date of grant. If
the holder of an Incentive Stock Option owns Common Stock possessing more than
ten percent (10%) of the combined voting power of all classes of stock of the
Company or any subsidiary, determined with regard to the attribution rules of
Section 424(d) of the Code, the term of such Incentive Stock Option shall not
exceed five years from the date of grant.

                                   ARTICLE VI

                               General Provisions

          VI.1 Conditions and Limitations on Exercise. Options may be made
exercisable in one or more installments, upon the happening of certain events,
upon the passage of a specified period of time, upon the fulfillment of certain
conditions or upon the achievement by the Company of certain performance goals,
as the Committee shall decide in each case when the Options are granted.

          VI.2 Sale of the Company. In the event of a Sale of the Company, the
Committee may provide, in its discretion, that the Options then outstanding
shall become immediately exercisable and that such Options shall terminate if
not exercised as of the date of the Sale of the Company or other prescribed
period of time.

                                      -4-

<PAGE>

          VI.3 Written Agreement. Each Option granted hereunder to a Participant
shall be embodied in a written agreement (an "Option Agreement") which shall be
signed by the Participant and by the President of the Company for and in the
name and on behalf of the Company and shall be subject to the terms and
conditions of the Plan prescribed in the Agreement (including, but not limited
to, (i) the right of the Company and such other Persons as the Committee shall
designate ("Designees") to repurchase from each Participant, and such
Participant's transferees, all shares of Common Stock issued or issuable to such
Participant on the exercise of an Option in the event of such Participant's
termination of employment (or, in the case of a Participant who is not an
employee of the Company, upon such other event(s) as the Committee shall
determine), (ii) rights of first refusal granted to the Company and Designees,
(iii) holdback and other registration right restrictions in the event of a
public registration of any equity securities of the Company and (iv) any other
terms and conditions which the Committee shall deem necessary and desirable).

          VI.4 Listing, Registration and Compliance with Laws and Regulations.
Options shall be subject to the requirement that if at any time the Committee
shall determine, in its discretion, that the listing, registration or
qualification of the shares subject to the Options upon any securities exchange
or under any state or federal securities or other law or regulation, or the
consent or approval of any governmental regulatory body, is necessary or
desirable as a condition to or in connection with the granting of the Options or
the issuance or purchase of shares thereunder, no Options may be granted or
exercised, in whole or in part, unless such listing, registration,
qualification, consent or approval shall have been effected or obtained free of
any conditions not acceptable to the Committee. The holders of such Options
shall supply the Company with such certificates, representations and information
as the Company shall request and shall otherwise cooperate with the Company in
obtaining such listing, registration, qualification, consent or approval. In the
case of officers and other Persons subject to Section 16(b) of the Securities
Exchange Act of 1934, as amended, the Committee may at any time impose any
limitations upon the exercise of an Option that, in the Committee's discretion,
are necessary or desirable in order to comply with such Section 16(b) and the
rules and regulations thereunder. If the Company, as part of an offering of
securities or otherwise, finds it desirable because of federal or state
regulatory requirements to reduce the period during which any Options may be
exercised, the Committee, may, in its discretion and without the Participant's
consent, so reduce such period on not less than 15 days written notice to the
holders thereof.

          VI.5 Nontransferability. Options may not be transferred other than by
will or the laws of descent and distribution and, during the lifetime of the
Participant, may be exercised only by such Participant (or his legal guardian or
legal representative). In the event of the death of a Participant, exercise of
Options granted hereunder shall be made only:

               (i) by the executor or administrator of the estate of the
     deceased Participant or the Person or Persons to whom the deceased
     Participant's rights under the Option shall pass by will or the laws of
     descent and distribution; and

               (ii) to the extent that the deceased Participant was entitled
     thereto at the date of his death, unless otherwise provided by the
     Committee in such Participant's Option Agreement.

                                      -5-

<PAGE>

          VI.6 Expiration of Options.

          (a) Normal Expiration. In no event shall any part of any Option be
exercisable after the date of expiration thereof (the "Expiration Date"), as
determined by the Committee pursuant to paragraph 5.6 above.

          (b) Early Expiration Upon Termination of Employment; etc.. Except as
otherwise provided by the Committee in the Option Agreement, any portion of a
Participant's Option that was not vested and exercisable on the date of the
termination of such Participant's employment (or, in the case of a Participant
who is not an employee of the Company, upon such other event(s) as the Committee
shall determine) shall expire and be forfeited as of such date, and any portion
of a Participant's Option that was vested and exercisable on the date of the
termination of such Participant's employment (or, in the case of a Participant
who is not an employee of the Company, upon such other event(s) as the Committee
shall determine) shall expire and be forfeited as of such date, except that: (i)
if any Participant dies or becomes subject to any Disability, such Participant's
Option shall expire 180 days after the date of his death or Disability, but in
no event after the Expiration Date, (ii) if any Participant is employed by the
Company and retires (with the approval of the Board), his Option shall expire 90
days after the date of his retirement, but in no event after the Expiration
Date, and (iii) if any Participant is discharged other than for Cause, such
Participant's Option shall expire 30 days after the date of his discharge, but
in no event after the Expiration Date.

          VI.7 Withholding of Taxes. The Company shall be entitled, if necessary
or desirable, to withhold from any Participant from any amounts due and payable
by the Company to such Participant (or secure payment from such Participant in
lieu of withholding) the amount of any withholding or other tax due from the
Company with respect to any shares issuable under the Options, and the Company
may defer such issuance unless indemnified to its satisfaction. Upon the
disposition (within the meaning of Section 424(c) of the Code) of shares of
Common Stock acquired pursuant to the exercise of an Incentive Stock Option
prior to the expiration of the holding period requirements of Section 422(a)(1)
of the Code, the Participant shall be required to give notice to the Company of
such disposition and the Company shall have the right to require the payment of
the amount of any taxes that are required by law to be withheld with respect to
such disposition.

          VI.8 Adjustments. In the event of a reorganization, recapitalization,
stock dividend or stock split, or combination or other change in the shares of
Common Stock, the Board or the Committee may, in order to prevent the dilution
or enlargement of rights under outstanding Options, make such adjustments in the
number and type of shares authorized by the Plan, the number and type of shares
covered by outstanding Options and the exercise prices specified therein as may
be determined to be appropriate and equitable. The issuance by the Company of
shares of stock of any class, or options or securities exercisable or
convertible into shares of stock of any class, for cash or property, or for
labor or services either upon direct sale, or upon the exercise of rights or
warrants to subscribe therefor, or upon exercise or conversion of other
securities, shall not affect, and no adjustment by reason thereof shall be made
with respect to, the number or price of shares of Common Stock then subject to
any Options. No adjustments to any Incentive Stock Option shall be made pursuant
to this Section 6.8 which consist of a modification of such Incentive Stock
Option under Section 422(h)(3)(C) of the Code.

                                      -6-

<PAGE>

          VI.9 Rights of Participants. Nothing in this Plan or in any Option
Agreement shall interfere with or limit in any way the right of the Company to
terminate any Participant's employment or other engagement at any time (with or
without Cause), nor confer upon any Participant any right to continue in the
employ or engagement of the Company for any period of time or to continue his
present (or any other) rate of compensation, and except as otherwise provided
under this Plan or by the Committee in the Option Agreement, in the event of any
Participant's termination of employment or engagement (including, but not
limited to, the termination by the Company without Cause) any portion of such
Participant's Option that was not previously vested and exercisable shall expire
and be forfeited as of the date of such termination. No employee or other person
shall have a right to be selected as a Participant or, having been so selected,
to be selected again as a Participant.

          VI.10 Amendment, Suspension and Termination of Plan. The Board or the
Committee may suspend or terminate the Plan or any portion thereof at any time
and may amend it from time to time in such respects as the Board or the
Committee may deem advisable; provided that no such amendment shall be made
without stockholder approval to the extent such approval is required by law,
agreement or the rules of any exchange upon which the Common Stock is listed,
and no such amendment, suspension or termination shall impair the rights of
Participants under outstanding Options without the consent of the Participants
affected thereby. No Options shall be granted hereunder after the tenth
anniversary of the adoption of the Plan.

          VI.11 Amendment, Modification and Cancellation of Outstanding Options.
The Committee may amend or modify any Option in any manner to the extent that
the Committee would have had the authority under the Plan initially to grant
such Option; provided that no such amendment or modification shall impair the
rights of any Participant under any Option without the consent of such
Participant. With the Participant's consent, the Committee may cancel any Option
and issue a new Option to such Participant.

          VI.12 Indemnification. In addition to such other rights of
indemnification as they may have as members of the Board or the Committee, the
members of the Committee shall be indemnified by the Company against all costs
and expenses reasonably incurred by them in connection with any action, suit or
proceeding to which they or any of them may be party by reason of any action
taken or failure to act under or in connection with the Plan or any Option
granted thereunder, and against all amounts paid by them in settlement thereof
(provided such settlement is approved by independent legal counsel selected by
the Company) or paid by them in satisfaction of a judgment in any such action,
suit or proceeding; provided that any such Committee member shall be entitled to
the indemnification rights set forth in this paragraph 6.12 only if such member
has acted in good faith and in a manner that such member reasonably believed to
be in or not opposed to the best interests of the Company and, with respect to
any criminal action or proceeding, had no reasonable cause to believe that such
conduct was unlawful, and further provided that upon the institution of any such
action, suit or proceeding a Committee member shall give the Company written
notice thereof and an opportunity, at its own expense, to handle and defend the
same before such Committee member undertakes to handle and defend it on his own
behalf.

Effective August 20, 2003

                                     * * * *

                                      -7-

<PAGE>

                                 FIRST AMENDMENT
                                       TO
                            COMPBENEFITS CORPORATION
                     AMENDED AND RESTATED STOCK OPTION PLAN

     WHEREAS, the CompBenefits Corporation Amended and Restated Stock Option
Plan (the "Plan") was adopted by the Board of Directors and the stockholders of
CompBenefits Corporation (the "Company") and became effective August 20, 2003 as
a performance incentive for officers, employees, consultants and other key
persons of the Company;

     WHEREAS, Article IV of the Plan provides that the total number of shares of
the Company's common stock, $.01 par value per share (the "Common Stock"), which
may be issued pursuant to stock options granted under the Plan shall not exceed
an aggregate of 1,200,000 shares of Common Stock;

     WHEREAS, the Board of Directors of the Company believes that the number of
shares of Common Stock remaining available for issuance under the Plan has
become insufficient for the Company's current and anticipated future needs,
including granting options under a management incentive plan;

     WHEREAS, Section VI.10 of the Plan provides that the Board of Directors of
the Company may amend the Plan at any time, subject to certain conditions set
forth therein; and

     WHEREAS, the Board of Directors of the Company has determined that it is in
the best interests of the Company to amend the Plan to provide that an
additional 1,100,000 shares of Common Stock be made available for issuance under
the Plan.

     NOW, THEREFORE, the Plan is amended as follows:

     1. Amendment of Plan. Article IV of the Plan is hereby amended by deleting
the number "1,200,000" in the first and last sentences of Article IV and
replacing each such reference with the number "2,300,000."

     2. Effective Date of Amendment. This First Amendment to the Plan shall
become effective upon the date that it is adopted by the Board of Directors of
the Company.

     IN WITNESS WHEREOF, this First Amendment to the Plan has been adopted by
the Board of Directors of the Company this 25th day of August, 2004.

                                        /s/ Kirk E. Rothrock
                                        ----------------------------------------
                                        Name: Kirk E. Rothrock
                                        Title: CEO & President

<PAGE>

                                SECOND AMENDMENT
                                       TO
                            COMPBENEFITS CORPORATION
                     AMENDED AND RESTATED STOCK OPTION PLAN

     The CompBenefits, Inc. Amended and Restated Stock Option Plan (the "Plan")
was adopted by the Board of Directors (the "Board") and the stockholders of the
CompBenefits Corporation (the "Company"), became effective August 20, 2003 and
was amended August 25, 2004. The Plan is hereby further amended, by action of
the Board of the Company at a meeting of the Board duly called and held on
August 4, 2006, as follows:

     1. The following articles of the Plan are hereby amended by adding the
language "and Restricted Stock Awards" immediately following the word "Options"
and, where appropriate, the language "and Restricted Stock Award" immediately
following the word "Option":

          (A): Article III, lines 4, 8 and 13;

          (B): Article VI, Section 1, line 4;

          (C): Article VI, Section 3, line 1;

          (D): Article VI, Section 4, lines 1, 3 and 9;

          (E): Article VI, Section 5, line 1; and

          (F): Article VI, Section 8, lines 4, 5 and 11.

     2. The following articles of the Plan are hereby amended by adding the
language "or Restricted Stock Awards" immediately following the word "Options"
and, where appropriate, the language "or Restricted Stock Award" immediately
following the word "Option":

          (A): Article III, line 10;

          (B): Article VI, Section 4, lines 6 and 7;

          (C): Article VI, Section 9, line 8;

          (D): Article VI, Section 10, line 7;

          (E): Article VI, Section 11, lines 2, 3, 4, 5 and 6; and

          (F): Article VI, Section 12, line 5.

     3. Article I of the Plan is hereby amended by adding the language "and
restricted stock awards" immediately following the word "options."

<PAGE>

     4. Article II of the Plan is hereby amended by inserting the following
immediately following the definition of "Person":

          "'Restricted Stock' shall have the definition established in Article
V, Section 7 of the Plan."

     5. Article IV of the Plan is hereby amended by deleting the text of said
article in its entirety and replacing that text with the following:

          "The number of shares of Common Stock with respect to which options
and restricted stock awards may be granted under the Plan (the "Options" and the
"Restricted Stock," respectively) shall not exceed, in the aggregate, 3,300,000
shares, of which a total of 1,000,000 shall underlie the Restricted Stock Awards
issued to the five individuals listed on Exhibit C of the Resolutions approved
by the Board of the Company on the date hereof; provided that the type and the
aggregate number of shares which may be subject to Options and Restricted Stock
shall be subject to adjustment in accordance with paragraph 6.8 below, and
further provided that to the extent any Options expire unexercised or are
canceled, terminated or forfeited in any manner without the issuance of Common
Stock thereunder, or if any Options are exercised (or Restricted Stock vests)
and the shares Common Stock corresponding thereto are repurchased by the
Company, such shares shall again be available under the Plan. The 3,300,000
shares of Common Stock available under the Plan may be either authorized and
unissued shares, treasury shares or a combination thereof, as the Committee
shall determine."

     6. Article V of the Plan is hereby amended by adding the following Section
V.7 immediately following Section V.6 thereof:

          "V.7 Restricted Stock Awards

               (A) Nature of Restricted Stock Awards. A Restricted Stock Award
is an award pursuant to which the Company may, in its sole discretion, grant or
sell, at such purchase price as determined by the Committee, in its sole
discretion, shares of Common Stock subject to such restrictions and conditions
as the Committee may determine at the time of grant ("Restricted Stock"), which
purchase price shall be payable in cash or other form of consideration
acceptable to the Committee. Conditions may be based on continuing employment
(or other service relationship) and/or achievement of pre-established
performance goals and objectives. The terms and conditions of each such
agreement shall be determined by the Committee, and such terms and conditions
may differ among individual awards and grantees.

               (B) Rights as a Stockholder. Upon execution of a written
instrument setting forth the Restricted Stock Award and payment of any
applicable purchase price, a grantee shall have the rights of a stockholder with
respect to the voting of the Restricted Stock, subject to such conditions
contained in the written instrument evidencing the Restricted Stock Award.
Unless the Committee shall otherwise determine, certificates evidencing the
Restricted Stock shall remain in the possession of the Company until such
Restricted Stock is vested as provided in subsection (D) below of

                                        2

<PAGE>

this Section, and the grantee shall be required, as a condition of the grant, to
deliver to the Company a stock power endorsed in blank.

               (C) Restrictions. Restricted Stock may not be sold, assigned,
transferred, pledged or otherwise encumbered or disposed of except as
specifically provided herein or in the Restricted Stock Award agreement. If a
grantee's employment (or other service relationship) with the Company terminates
under the conditions specified in the relevant instrument relating to the award,
or upon such other event or events as may be stated in the instrument evidencing
the award, the Company or its assigns shall have the right or shall agree, as
may be specified in the relevant instrument, to repurchase some or all of the
shares of Common Stock subject to the award at such purchase price as is set
forth in such instrument.

               (D) Vesting of Restricted Stock. The Committee at the time of
grant shall specify the date or dates and/or the attainment of pre-established
performance goals, objectives and other conditions on which Restricted Stock
shall become vested, subject to such further rights of the Company or its
assigns as may be specified in the instrument evidencing the Restricted Stock
Award.

               (E) Waiver, Deferral and Reinvestment of Dividends. The
Restricted Stock Agreement may require or permit the immediate payment, waiver
deferral or investment of dividends paid on the Restricted Stock."

     7. Article VI of the Plan is hereby amended by adding the language "or
Restricted Stock Agreement" immediately following the language "Option
Agreement" throughout that article.

     8. Article VI, Section 1, line 1 of the Plan is hereby amended by adding
the following immediately following the word "exercisable":

          ",and Restricted Stock may vest,"

     9. Article VI, Section 2 of the Plan is hereby amended by deleting the
third line thereof in its entirety and replacing said line with the following:

          "exercisable and/or that the unvested Restricted Stock shall vest and
that all Options shall terminate if not exercised as of the date of the Sale of
the"

     10. Article VI, Section 3 of the Plan is hereby amended by adding the
following immediately following the words "Option Agreement":

          "or 'Restricted Stock Agreement,' respectively"

     11. Article VI, Section 3 of the Plan is hereby further amended by adding
the following immediately following the words "exercise of an Option" therein:

          "or resulting from the vesting of Restricted Stock"

                                        3

<PAGE>

     12. Article VI, Section 4, line 6 of the Plan is hereby amended by deleting
the word "thereunder" therefrom and replacing said word with the following:

          "resulting from such Options and Restricted Stock Awards"

     13. Article VI, Section 7 of the Plan is hereby amended by deleting the
fifth line thereof in its entirety and replacing said line with the following:

          "Options, or resulting from the Restricted Stock Awards, and the
Company may defer the issuance of such Options unless indemnified to its
satisfaction. Upon the"

     IN WITNESS WHEREOF, the undersigned certifies that the Amendment set forth
above was adopted by the Board on August 4, 2006.

                                        /s/ Kirk E. Rothrock
                                        ----------------------------------------
                                        Kirk E. Rothrock, Chairman
                                        President & CEO

                                        4

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