Document:

EXHIBIT 10.22

                             SECOND AMENDMENT TO THE
                           FLAG FINANCIAL CORPORATION
                       1994 DIRECTORS STOCK INCENTIVE PLAN
               (AS AMENDED AND RESTATED AS OF SEPTEMBER 18, 1997)

     THIS  SECOND  AMENDMENT  is  made as of October 25, 1999, by FLAG Financial
Corporation,  a  Georgia  corporation  (the  "Corporation").

     WHEREAS,  the  Corporation  maintains  the  FLAG Financial Corporation 1994
Directors  Stock  Incentive  Plan  (as  amended and restated as of September 18,
1997)  (the  "Plan");  and

     WHEREAS,  the  Corporation desires to amend the Plan to increase the number
of shares reserved for issuance under the Plan to accommodate a grant of options
to  a  new  member  of  the  Board  of  Directors.

     NOW,  THEREFORE  BE  IT  RESOLVED,  that  the Corporation does hereby amend
Article  4  of  the  Plan,  effective  as  of the date first set forth above, by
replacing  the  number  "165,938"  with  "166,938" with respect to the aggregate
number  of  shares  reserved  for  issuance  under  the  Plan.

     Except as specifically amended hereby, the remaining provisions of the Plan
shall  remain  in  full force and effect as prior to the adoption of this Second
Amendment.

     IN  WITNESS WHEREOF, the Corporation has caused this Second Amendment to be
duly  executed  under  seal  on its behalf, effective as of the date first above
written.

ATTEST/WITNESS:                    FLAG  FINANCIAL  CORPORATION

By:___________________________          By:_________________________________

Print  Name:__________________          Print  Name:________________________

                                        Print  Title:_______________________

                                        Date:_______________________________

<PAGE>EXHIBIT 10.23

                             THIRD AMENDMENT TO THE
                           FLAG FINANCIAL CORPORATION
                       1994 DIRECTORS STOCK INCENTIVE PLAN
               (AS AMENDED AND RESTATED AS OF SEPTEMBER 18, 1997)

     THIS  THIRD  AMENDMENT  is  made  as of January 16, 2001, by FLAG Financial
Corporation,  a  Georgia  corporation  (the  "Company").

     WHEREAS,  the  Company  maintains  the  FLAG  Financial  Corporation  1994
Directors  Stock  Incentive  Plan  (as  amended and restated as of September 18,
1997)  (the  "Plan");  and

     WHEREAS,  the  Company  desires to amend the Plan to increase the number of
shares  reserved for issuance under the Plan to accommodate grants of options to
new  members  of  the  Board  of  Directors.

     NOW,  THEREFORE,  the  Company  does  hereby  amend  Article 4 of the Plan,
effective  as  of  the  date  first  set  forth  above,  by replacing the number
"166,938" with "266,938" with respect to the aggregate number of shares reserved
for  issuance  under  the  Plan.

     Except as specifically amended hereby, the remaining provisions of the Plan
shall  remain  in  full  force and effect as prior to the adoption of this Third
Amendment.

     IN  WITNESS WHEREOF, the Company has caused this Third Amendment to be duly
executed under seal on its behalf, effective as of the date first above written.

ATTEST/WITNESS:                    FLAG  FINANCIAL  CORPORATION

By:___________________________          By:_________________________________

Print  Name:__________________          Print  Name:________________________

                                        Print  Title:_______________________

                                        Date:_______________________________

<PAGE>CERTIFICATE OF DESIGNATION
                            OF RIGHTS AND PREFERENCES

                                   RELATING TO

                   SERIES E CUMULATIVE SENIOR PREFERRED STOCK

     Boots & Coots International Well Control, Inc., a corporation organized and
existing  under  and  by  virtue  of the General Corporation Law of the State of
Delaware  (the  "Corporation"),  DOES  HEREBY  CERTIFY:

     FIRST:  That  the Board of Directors of said Corporation effective the 27th
day  of  December  2000,  adopted  the  following  resolution:

     RESOLVED, out of the Corporation's 5,000,000 authorized shares of preferred
stock, par value $0.00001 per share ("Preferred Stock"), there shall be a series
of Preferred Stock designated and known as "Series E Cumulative Senior Preferred
Stock"  consisting  of  50,000 shares ("Series E Shares") with an aggregate face
value  of $5,000,000 ($100.00 per share), and 10,775 additional shares of Series
E  Cumulative  Senior  Preferred  Stock  which  may be paid as dividends on such
Series  E  Shares  in lieu of cash ("PIK Shares" and, together with the Series E
Shares,  "Series  E  Stock")  which  shall  have  the following relative rights,
preferences,  voting  powers,  qualifications  and  privileges:

1.    Voting.
      ------

     (a)     General  Voting  Rights.  Except  as  may  otherwise be provided in
             -----------------------
subparagraph 1(b), the terms of the Series E Stock or by law, the Series E Stock
shall be entitled to notice of all stockholders' meetings in accordance with the
Corporation's  By-laws,  and the holders of the Series E Stock shall be entitled
to  vote  on all matters submitted to the stockholders for a vote, excluding the
election of directors as to which such shares shall not be entitled to any vote,
together  with the holders of the common stock, $0.00001 par value per share, of
the  Corporation  ("Common  Stock"), voting together as a single class with each
share  of  Series  F  Stock  (as defined below) and Common Stock.  Each share of
Series  E  Stock  shall  be  entitled  to  one  vote  on  all  such  matters.

     (b)  Restrictions  and  Limitations.  For so long as any shares of Series E
          ------------------------------
Stock  or  Series F Stock remain outstanding, the Corporation shall not, without
the  approval  of  the  holders  of  at least a majority of the then outstanding
shares  of  Series  E  Stock  and  Series  F  Stock,  voting  as a single class;

          (i)  redeem,  purchase  or otherwise acquire for value (or pay into or
     set  aside  a  sinking  fund  for such purpose) any shares of Junior Stock,
     including  without  limitation,  shares  of  Common  Stock;

          (ii)  amend,  repeal  or change any provision of, or add any provision
     to,  this  Certificate  of  Designation;

          (iii)  amend,  repeal  or  change  any  provision of the Corporation's
     Restated and Amended Certificate of Incorporation or By-laws if such action
     would  materially  adversely impact the Series E Stock or Series F Stock or
     the  designation,  powers,  preferences  and rights and the qualifications,
     limitations  and/or  restrictions  thereof  provided  for  herein;

<PAGE>
          (iv)  permit  any significant subsidiary to issue capital stock to any
     person  other than the Corporation or a wholly owned subsidiary (other than
     as  a  nominee  for  the  Corporation  or  a wholly owned subsidiary of the
     Corporation  to  comply  with  applicable  law);

          (v)  authorize,  designate,  issue, and sell shares of preferred stock
     with powers, rights, and preferences prior or senior to or on a parity with
     any  powers,  rights,  and  preferences  of  the Series E Stock or Series F
     Stock;  or

          (vi) except for the issuance of Common Stock or warrants or options to
     purchase  Common  Stock to employees, officers and directors (collectively,
     "Stock  Awards")  pursuant to the Corporation's current incentive plans and
     such  subsequently  adopted  plans as may be approved by the holders of the
     Series  E Stock and Series F Stock, voting as a single class, issue, in any
     12  month  period, any Stock Awards (on a fully-diluted basis) exceeding in
     the  aggregate  five  percent (5%) of the aggregate amount of fully-diluted
     Common  Stock and warrants and options to purchase Common Stock outstanding
     on  the date hereof, provided that at no time shall the aggregate shares of
                          --------
     Common Stock issued or issuable pursuant to Stock Awards granted to persons
     not  employed  by  the Company on the date hereof who subsequently commence
     employment  with  the  Company exceed 10% of the fully-diluted Common Stock
     and  warrants  and  options  to  purchase  Common  Stock  outstanding.

     (c)     Quorum;  Action  by  Written  Consent.  A majority of the shares of
             -------------------------------------
Series  E Stock, represented in person or by proxy, shall constitute a quorum at
any  meeting  of  the holders of the Series E Stock.  Action may be taken at any
meeting  of  the  Series E Stock and Series F Stock holders at which a quorum is
present  by the holders of a majority of the shares of Series E Stock and Series
F  Stock,  voting  together,  represented at such meeting in person or by proxy.
The  holders  of Series E Stock and Series F Stock may take action, in lieu of a
meeting,  by a written consent signed by the holders of such number of shares of
Series  E  Stock and Series F Stock as is required to approve such action at any
meeting  of  the  holders  of  Series  E  Stock  and  Series  F  Stock.

2.    Dividends.
      ---------

     (a)     Cumulative  Dividends.  The holders of record of the Series E Stock
             ---------------------
shall be entitled to receive cumulative dividends at a rate of ten percent (10%)
per  annum,  compounded  semi-annually,  on the face value ($100.00) denominated
thereon  (subject  to  adjustment  for  stock  splits,  stock  dividends,
reorganization, reclassification or similar events (the "Adjusted Face Value")).
At  the  discretion  of the Corporation, any and all dividends are payable, from
the  date  of  issuance  of  any  shares  of  Series  E Stock through the second
anniversary  thereof,  in  additional shares of Series E Stock, each share being
valued  at  $100  for  such  purposes  ("PIK  Shares")  in  lieu  of  cash.  The

                                        2
<PAGE>
Corporation shall, at all times as PIK Shares are authorized for payment hereby,
have  in  reserve  an  amount of Series E Stock as shall be necessary to pay all
dividends  in  full in the form of PIK Shares.  When issued, holders of such PIK
Shares  shall  be  entitled  to  the  same  rights,  preferences, voting powers,
qualifications  and  privileges,  including  the  right  to  receive  cumulative
dividends,  as the shares of Series E Stock originally issued.  Shares of Series
E  Stock outstanding after the third anniversary of the date of issuance thereof
shall  thereafter  be  entitled  to  receive cumulative cash dividends at a rate
twelve  percent  (12%) per annum, compounded semi-annually, on the Adjusted Face
Value.

     (b)     Payment. Dividends on shares  of  Series  E  Stock shall be payable
             -------
semi-annually  in  arrears, when and as declared by the Board, on December 1 and
June  1  of each year or the next business day if such date falls on a Saturday,
Sunday, or legal holiday (each such date being herein referred to as a "Dividend
Payment  Date")  to  holders  of  record  as  they  appear on the records of the
Corporation  on  any  record  date  not exceeding sixty (60) days preceding such
Dividend  Payment  Date; provided, however, that if the initial Dividend Payment
Date  following  the issuance of shares of Series E Stock represents less than a
full  semi-annual period, the dividends for such period shall be due and payable
on  the  next  succeeding  Dividend  Payment  Date.  Dividends in arrears may be
declared  by  the  Board  and  paid  at  any time out of funds legally available
therefor,  without reference to any regular Dividend Payment Date, to holders of
record  on  any record date, not exceeding sixty (60) days preceding the payment
date  thereof,  as  may  be  fixed  by  the  Board.

     (c)  Default  in  Payment.  Dividends  on the Series E Stock, including PIK
          --------------------
Shares,  if  issued,  shall  commence to accrue and shall be cumulative from and
after  the  date  of  initial  issuance  thereof, whether or not declared by the
Board.  To  the extent that dividends remain unpaid ten (10) business days after
the  applicable Dividend Payment Date, additional dividends shall accrue thereon
at  a  rate of ten percent (10%) per annum prior to the third anniversary of the
initial  date  of  issuance  of the Series E Stock and thereafter twelve percent
(12%)  per  annum,  until  paid  and  shall  be  a  continuing obligation of the
Corporation.  Dividends  paid  on  the  shares  of Series E Stock, including PIK
Shares, in an amount less than the total amount of dividends at the time accrued
and payable on such shares shall be allocated pro rata on a share-by-share basis
among  all  such  shares  at  the  time  outstanding.

     (d)  Dividends  on  Common  or  Junior Stock. The Series E Stock shall rank
         ----------------------------------------
senior to all Junior Stock (as defined below) of the Corporation with respect to
the payment of dividends.  No dividend or distribution (other than a dividend or
distribution  paid  in  Common  Stock  or  in any other Junior Stock (as defined
below))  shall  be declared or paid or set aside for payment on the Common Stock
or  on  any  other  Junior Stock, nor shall any Common Stock or any other Junior
Stock be redeemed, purchased or otherwise acquired for any consideration (or any
moneys be paid to or made available for a sinking fund for the redemption of any
shares  of  any  such  stock)  by  the Corporation (except by conversion into or
exchange for shares of Common Stock or other Junior Stock) unless, in each case,
full  cumulative dividends on all outstanding shares of the Series E Stock shall
have  been  declared  and  paid  through  and including the most recent Dividend
Payment  Date.

                                        3
<PAGE>
     "Junior  Stock"  shall  include the Common Stock, the 10% Junior Redeemable
Convertible  Preferred  Stock  of  the  Corporation,  the  Series  B Convertible
Preferred  Stock  of the Corporation, the Series C Cumulative Convertible Junior
Preferred  Stock  of  the  Corporation, the Series D Cumulative Junior Preferred
Stock of the Corporation, the Series G Cumulative Convertible Preferred Stock of
the  Corporation,  Series  H  Cumulative  Convertible  Preferred  Stock  of  the
Corporation  and  all  other equity securities of the Corporation over which the
Series  E  Stock  has preference or priority in the payment of dividends, in the
distribution  of  assets,  upon  redemption and upon dissolution, liquidation or
winding  up,  voluntary  or  involuntary,  of  the  Corporation.

     "Parity  Stock"  shall  include  the  Series  A Cumulative Senior Preferred
Stock,  the  Series F Convertible Senior Preferred Stock of the Corporation (the
"Series  F  Stock")  and any other stock or class of stock, the holders of which
shall  be  entitled to the receipt of dividends or of amounts distributable upon
redemption  or  upon  dissolution,  liquidation  or  winding  up,  voluntary  or
involuntary,  in  proportion  to  their respective dividend rates or liquidation
prices or values, without preference or priority, one over the other, as between
the  holders  of  such  stock or class of stock and the holders of shares of the
Series  E  Stock.

     "Senior  Stock" shall mean any stock or class of stock the holders of which
shall  be  entitled to the receipt of dividends or of amounts distributable upon
redemption  or  upon  dissolution, liquidation or winding up of the Corporation,
voluntary  or  involuntary, as the case may be, in preference or priority to the
holders  of  shares  of  Series  E  Stock.

3.     Liquidation.  Upon  any  liquidation,  dissolution  or  winding up of the
       -----------
Corporation,  whether  voluntary  or  involuntary, or any Deemed Liquidation (as
defined  below),  before any distribution or payment is made with respect to any
Junior  Stock,  holders  of each share of Series E Stock shall be entitled to be
paid  an  amount  equal  to the Adjusted Face Value denominated thereon plus, in
case  of  each  share,  an amount equal to all dividends accrued or declared but
unpaid  thereon, computed to the date payment thereof is made available, and the
holders  of  Series  E  Stock shall not be entitled to any further payment, such
amount payable with respect to Series E Stock being sometimes referred to as the
"Liquidation  Payments".  If upon such liquidation, dissolution or winding up of
the  Corporation, whether voluntary or involuntary, the assets to be distributed
among  the  holders  of  Series  E  Stock,  and  any and all Parity Stock, after
distribution on any Senior Stock, shall be insufficient to permit payment to the
holders  of Series E Stock of the amount distributable to such parties, then the
entire  assets  of the Corporation available to be so distributed, if any, shall
be  distributed  among  the holders of the Series E Stock and the holders of any
and  all  Parity  Stock  pro  rata so that the amount of assets distributed with
respect to the Series E Stock and Parity Stock bear to each other the same ratio
that  Liquidation Payments due per share of Series E Stock and Parity Stock bear
to  each  other.  Upon  any  such  liquidation, dissolution or winding up of the
Corporation, after the holders of Series E Stock and any Parity Stock shall have
been  paid  in  full  the  entire  Liquidation  Payments  to which they shall be
entitled,  the remaining net assets of the Corporation may be distributed to the
holders  of  Junior  Stock.  Written  notice of such liquidation, dissolution or
winding  up,  stating a payment date, the amount of the Liquidation Payments and
the  place  where said Liquidation Payments shall be payable, shall be delivered
in  person, mailed by certified or registered mail, return receipt requested, or
sent  by reputable overnight courier service, not less than 20 days prior to the
payment  dates  stated  therein,  to  the  holders  of  record of Series E Stock

                                        4
<PAGE>
entitled  to such Liquidation Payments, such notice to be addressed to each such
holder  at  its  address  as  shown  by  the  records  of  the Corporation.  The
consolidation  or  merger  of  the  Corporation into or with any other entity or
entities which results in the exchange of outstanding shares of  the Corporation
for  securities  or other consideration issued or paid or caused to be issued or
paid  by  any  such  entity  or  affiliate  thereof  (other  than  a  merger  to
reincorporate the Corporation in a different jurisdiction), and the sale, lease,
abandonment,  transfer  or  other  disposition  by  the  Corporation  of  all or
substantially  all  of  its  assets,  shall  be  deemed  to  be  a  liquidation,
dissolution  or  winding  up  of  the  Corporation  within  the  meaning  of the
provisions  of  this  paragraph  3  ("Deemed  Liquidation").

4.    Redemption.
      ----------

     (a)  Optional  Redemption.  The  Corporation  may,  at  its  option  at any
             --------------------
time after the initial date of issuance of the Series E Stock, redeem all or any
portion  of  the outstanding shares of Series E Stock, including the PIK Shares,
if  any.

     (b)  Redemption Price and Payment. The Series E Stock to be redeemed on the
        -----------------------------
Redemption  Date  (as  defined  in  paragraph  4(c) hereof) shall be redeemed by
paying  for  each  share:  (i)  if the Redemption Date occurs within twelve (12)
months  of  the  date  of  initial  issuance  of  Series E Stock , 83.33% of the
Adjusted  Face  Value  of  the  Series  E  Shares,  plus  an amount equal to all
dividends  accrued  or  declared but unpaid thereon, including the full Adjusted
Face  Value  of  the  PIK  Shares,  (ii) if the Redemption Date occurs more than
twelve  (12)  months from the date of initial issuance of Series E Stock, at the
Adjusted  Face  Value, plus an amount equal to all dividends accrued or declared
but unpaid thereon, including the full Adjusted Face Value of the PIK Shares (in
each  case  as  calculated pursuant to subsection (i) or (ii) of this paragraph,
the  "Redemption Price") computed to the Redemption Date.  Such payment shall be
made  in  full  on  the  Redemption  Date  to  the  holders  entitled  thereto.

     (c) Redemption Mechanics. A notice of redemption ("Redemption Notice") will
         --------------------
be sent to the holder(s) of Series E Stock at the address indicated of record on
the  Corporation's stockholders' list and will indicate (a) the number of shares
of Series E Stock held by such holder or holders, (b) the number of shares being
redeemed  by  the  Corporation,  and (c) the date on which such redemption shall
take  place (such date being referred to herein as the "Redemption Date"), which
date  shall  not  be  fewer  than thirty (30) days after the date the applicable
Redemption  Notice  is  delivered  from  the  Corporation by delivery in person,
certified  or  registered  mail, return receipt requested, postage prepaid or by
reputable  overnight  courier  service,  charges  prepaid to the holder.  If the
Redemption  Date  shall  occur  from  and  after five (5) years from the date of
initial  issuance  of  the  Series  E Stock, then prior to such Redemption Date,
holder(s)  of  Series  E  Stock may at any time, at their sole election, convert
their  shares  of  Series  E  Stock  into  shares of  Series F Stock pursuant to
Section  5 hereof.  From and after the close of business on the Redemption Date,
unless  there  shall have been a default in the payment of the Redemption Price,
all  rights  of  holders  of shares of Series E Stock being redeemed (except the
right  to receive the Redemption Price) shall cease with respect to such shares,
and  such  shares  shall  not  thereafter  be  transferred  on  the books of the
Corporation  or  be  deemed  to  be  outstanding  for  any  purpose  whatsoever.

                                        5
<PAGE>
     (d)  Redeemed  or  Otherwise  Acquired  Shares to be Retired. Any shares of
         --------------------------------------------------------
Series  E  Stock  redeemed pursuant to this paragraph 4 or otherwise acquired by
the  Corporation  in any manner whatsoever shall be canceled and shall not under
any  circumstances  be  reissued; and the Corporation may from time to time take
such  appropriate corporate action as may be necessary to reduce accordingly the
number  of  authorized  shares  of  Series  E  Stock.

     (e)  Priority  of  Redemption.  The Series E Stock shall have priority over
         ------------------------
shares  of  all  Junior  Stock,  including but not limited to Common Stock, with
respect to the rights of redemption set forth in this paragraph 4.  In the event
the  Corporation  has  insufficient funds to redeem all of the Series E Stock at
the  then applicable Redemption Price, the Corporation shall not be permitted to
redeem  shares  of  Junior Stock until such time as the Corporation has redeemed
all  of  the  issued  and  outstanding  Series  E  Stock.

     (f)  Surrender  of Certificates. Each holder of shares of Series E Stock to
        ---------------------------
be  redeemed  shall surrender the certificate(s) representing such shares to the
Corporation  at  the principal offices of the Corporation or such other place as
the  Corporation  may  designate  in writing on the Redemption Date and upon the
payment  of  the  full  Redemption  Price  for  such shares as set forth in this
Paragraph  4  to  the  order  of  the  person  whose  name  appears  on  such
certificate(s),  each surrendered certificate shall be canceled and retired.  In
the  event  some  but  not  all of the shares of Series E Stock represented by a
certificate(s) surrendered by a holder are being redeemed, the Corporation shall
execute  and  deliver  to  or  on the order of the holder, at the expense of the
Corporation,  a  new  certificate  representing the number of shares of Series E
Stock  which  were  not  redeemed.

     (g) Call Option. Nothing contained in this Paragraph 4 shall conflict or be
          -----------
construed  to  conflict  with  the  provisions  of and transactions which may be
executed  pursuant  to  Section  3.3  of  the  Subordinated  Note  Restructuring
Agreement, dated as of December 28, 2000 (the "Restructuring Agreement") between
the  Corporation  and  the  Prudential  Insurance  Company of America (the "Call
Option"),  which  provisions  are  hereby  ratified.  Upon  election  by  the
Corporation  to  pay  the  Call  Option  Price  (as defined in the Restructuring
Agreement),  each  holder  of  shares  of  Series  E  Stock  shall surrender the
certificate(s)  representing  such  shares  to  the Corporation at the principal
offices  of the Corporation or such other place as the Corporation may designate
in  writing,  on  the date of payment of the Call Option Price.  Upon payment by
the  Corporation  of  the  Call  Option  Price, the Corporation shall accept and
retire  the  certificate(s)  representing  such  shares  of  Series  E  Stock.

5.     Optional  Conversion.  From  and  after  five  (5) years from the date of
       --------------------
initial  issuance  of  the Series E Stock, each holder shall have the right, but
not  the  obligation,  to convert any or all of his shares of Series E Stock and
all  accrued  but  unpaid dividends owing thereon through the date of conversion
into  shares of Series F Stock.  In such event, the number of shares of Series F
Stock  to be issued on account of each share of Series E Stock shall be equal to
the  Adjusted  Face  Value  per  share  of Series E Stock plus the amount of any
accrued  but  unpaid  dividends  thereon  divided by the Adjusted Face Value per
share  of  Series  F  Stock  (the  "Per  Share  Conversion  Price").

     (a)     Mechanics  of  Conversion.  To  effect  a  conversion  of shares of
             -------------------------
Series  E  Stock, the holder shall give written notice to the Corporation of its
intention  to  convert  such  shares.  The  Corporation  shall send the holder a
confirmation  notice  setting  forth  the  date  upon which the conversion is to
occur.  Such  notice  shall  also  state  the  date, place and time at which the
holder  of  the shares of Series E Stock to be converted is to tender the shares

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<PAGE>
of  Series  E Stock being converted in exchange for the shares of Series F Stock
to  be delivered at such time by the Corporation.  On the date set forth in such
notice, provided that the Corporation tenders the shares of Series F Stock to be
issued  upon  the conversion of the Series E Stock, the shares of Series E Stock
to  be  converted  shall no longer be outstanding and shall thereafter represent
only  the  right  to  receive  the  shares  of  Series F Stock issuable upon the
conversion  thereof.  The  shares  of Series F Stock issuable upon conversion of
the  Series  E  Stock  shall bear a restrictive legend substantially as follows:

               THE  SHARES  REPRESENTED  BY  THIS  CERTIFICATE  HAVE  NOT  BEEN
               REGISTERED  UNDER  THE SECURITIES ACT OF 1933, AS AMENDED, OR THE
               SECURITIES  LAWS OF ANY STATE. SUCH SHARES MAY NOT BE TRANSFERRED
               EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH
               ACT  AND  APPLICABLE  STATE  SECURITIES  LAWS  OR  PURSUANT TO AN
               APPLICABLE  EXEMPTION  FROM THE REGISTRATION REQUIREMENTS OF SUCH
               ACT  AND  SUCH  LAWS  AND  THE  DELIVERY  TO THE CORPORATION OF A
               WRITTEN  OPINION  OF  COUNSEL  REASONABLY  ACCEPTABLE  TO  THE
               CORPORATION  THAT  SUCH  REGISTRATION  IS  NOT  REQUIRED.

     (b)     Fractional Shares, Dividends.  No fractional shares shall be issued
             ----------------------------
upon  conversion of Series E Stock into Series F Stock.  If any fractional share
of  Series  F Stock would be delivered upon such conversion, the Corporation, in
lieu  of delivering such fractional share, shall pay to the holder of the Series
E  Stock  being  converted an amount in cash equal to the Adjusted Face Value of
such  share  fraction.

     (c)  Stock  to  be  Reserved. The Corporation will at all times reserve and
          ------------------------
keep  available  out  of the authorized Preferred Stock and Common Stock, solely
for  the  purpose  of  issue upon the conversion of the Series E Stock as herein
provided,  such  number of shares of Series F Stock and, upon conversion of such
Series  F  Stock,  Common Stock as shall then be issuable upon the conversion of
all  outstanding  Series  E Stock and the Corporation will maintain at all times
all  other  rights  and  privileges  sufficient  to enable it to fulfill all its
obligations  hereunder.  The  Corporation  covenants that all shares of Series F
Stock  and Common Stock which shall be so issuable shall, upon issuance, be duly
authorized,  validly  issued,  fully  paid  and  nonassessable,  and  free  from
preemptive or similar rights on the part of the holders of any shares of capital
stock  or  securities  of the Corporation or any other person, and free from all
taxes,  liens  and  charges  with respect to the issue thereof.  The Corporation
will  take  all  such  action  as may be necessary to assure that such shares of
Series  F  Stock  and  Common  Stock  may  be so issued without violation of any
applicable  law or regulation, or of any applicable requirements of the National
Association  of Securities Dealers, Inc., or of any domestic securities exchange
upon  which  the  Common  Stock  may  be  listed.

     (d)  No  Reissuance  of  Series E Stock. Shares of Series E Stock which are
          ----------------------------------
converted  into  shares  of  Series  F  Stock  as  provided  herein shall not be
reissued.

                                        7
<PAGE>
(e)     Issue  Tax.  The  issuance  of certificates for shares of Series F Stock
        ----------
upon  conversion  of  Series E Stock shall be made without charge to the holders
thereof  for  any issuance tax in respect thereof, provided that the Corporation
shall  not  be  required  to  pay any tax which may be payable in respect of any
transfer  involved  in  the  issuance  and delivery of any certificate in a name
other  than  that  of the holder of the Series E Stock which is being converted.

(f)     Closing  of  Books.  The  Corporation will at no time close its transfer
        ------------------
books  against  the  transfer of any Series E Stock or of any shares of Series F
Stock  issued or issuable upon the conversion of any shares of Series E Stock in
any  manner  which interferes with the timely conversion of such Series E Stock,
except  as  may otherwise be required to comply with applicable securities laws.

     IN WITNESS WHEREOF, said Corporation has caused this Amended Designation of
Preferences  to  be signed by Larry H. Ramming, its Chief Executive Officer, and
attested  by  Dewitt  H.  Edwards,  its Secretary, this the 27th day of December
2000,  and by execution hereof does declare and certify that this is the act and
deed  of  the  Corporation  and  the  facts  herein  stated  are  true.

                                   ___________________________________________
                                   Larry H. Ramming, Chief Executive Officer

                                   ___________________________________________
                                   Dewitt H. Edwards, Secretary

                                        8
<PAGE>

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