Document:

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                             EMPLOYMENT AGREEMENT
                             --------------------

          AGREEMENT made and entered into effective January 1, 2000, by and
between Ascent Sports Holdings, Inc., a Delaware corporation (the "Company"),
and Donald M. Elliman Jr. (the "Executive").

                             W I T N E S S E T H :

          WHEREAS, the Company is a wholly owned subsidiary of Ascent
Entertainment Group, Inc., a Delaware corporation ("Ascent"), and was formed to
own and operate Ascent's sports-related businesses, the Denver Nuggets Limited
Partnership, Colorado Avalanche, LLC and Ascent Arena Company, LLC;

          WHEREAS, the Company desires to employ the Executive as President of
the Company, and the Executive desires to accept such employment, on the terms
and conditions set forth herein;

          NOW, THEREFORE, in consideration of the premises and the mutual
agreements contained herein, and intending to be legally bound hereby, the
parties hereto agree as follows:

          1. Term. The Company hereby agrees to employ the Executive as
             ----
President of the Company and the Executive agrees to be so employed for a period
commencing January 1, 2000 and ending August 31, 2000 (the "Term").

          2. Performance and Scope. During the Term hereof, the Executive agrees
             ---------------------
to devote his full time and best efforts in the discharge of his duties for the
Company. The Executive shall report directly to the Sports Businesses Committee
of the Board of Directors of Ascent (the "Committee"). Except as otherwise
provided in existing employment agreements, all other employees of the Company
and its subsidiaries shall report, directly or indirectly, to the Executive. The
parties hereto understand that the Executive shall at all times be subject to
the authority and direction of the Committee and the Board of Directors of
Ascent.
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          3. Compensation.
             ------------

               a. As remuneration for the full-time services to be rendered to
the Company during the Term, Executive shall be paid total compensation
consisting of (i) a monthly base salary of $50,000 and (ii) benefits provided by
Section 3(b) hereof. The base salary shall not be decreased during the Term.

               b. During the Term, in addition to his base salary, the Executive
shall receive such benefits as may be extended to other senior executives of
Ascent and Ascent's affiliates, including, if applicable, group life and health
insurance benefits, retirement benefits, deferred compensation benefits, and
expense reimbursements.

          4.   Termination of Employment. Notwithstanding the provisions of
               -------------------------
Section 1 hereof, Employee's employment hereunder may be terminated prior to the
expiration of the Term upon the occurrence of any of the events described in
clauses (i) through (v) of this Section 4. If the termination event is described
in clause (i), (ii) or (iii), the Company shall pay to the Executive (or the
Employee's estate, in the case of clause (ii)), within the five days immediately
following the date of such termination of employment, a lump sum amount equal to
the lesser of three-months base salary or the aggregate base salary otherwise
payable to the Executive through the end of the Term. If the termination event
is described in clause (iv) or (v), the Executive shall forfeit his right to any
and all compensation and benefits he would have been entitled to receive with
respect to any employment period which would otherwise have followed the date of
such termination, but he shall not forfeit any rights or benefits he would
otherwise receive or retain in the absence of this Agreement. The events of
termination are as follows:

                    (i)  At any time by the Committee, without "Cause" (as
          defined in Section 4(v) hereof); or

                    (ii) In the event of Employee's death; or

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               (iii) By the Committee in the event Executive is unable to
     perform his services hereunder for a continuous period of thirty (30) days
     by reason of his physical or mental illness or incapacity, as determined in
     good faith by the Committee; or

               (iv)  At the option of Executive at any time upon ninety (90)
     days prior written notice to the Committee; or

               (v)   At any time by the Committee, for "Cause", which, for
     purposes of this Agreement, shall mean (x) the continued and deliberate
     failure of the Executive to perform his material duties in a manner
     substantially consistent with the manner reasonably prescribed by the
     Committee and in accordance with the terms of this Agreement (other than
     any such failure resulting from his incapacity due to physical or mental
     illness), which failure continues for ten (10) business days following the
     Executive's receipt of written notice from the Committee specifying the
     manner in which the Executive is in default of his duties, (y) the engaging
     by the Executive in intentional serious misconduct that is materially and
     demonstrably injurious to the Company, Ascent or their affiliates, or (z)
     any material breach by the Executive of Section 7 hereof.

          5.   Liability Insurance. The Executive shall be covered under the
               -------------------
liability insurance policy for directors and officers of Ascent and its
affiliates to the same extent as other officers of Ascent and its affiliates.

          6.   No Mitigation. The Executive shall have no duty to mitigate his
               -------------
damages, if any, arising from any termination of his employment hereunder.

          7.   Noncompetition and Other Covenants.
               ----------------------------------

                a. Trade Secrets; Return of Documents and Property. The
Executive acknowledges that during the course of his employment he will receive
secret, confidential and proprietary information ("Trade Secrets") of

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the Company, Ascent and their affiliates and of other companies with which the
Company, Ascent and their affiliates do business on a confidential basis and
that the Executive will create and develop Trade Secrets for the benefit of the
Company, Ascent and its affiliates. Trade Secrets shall include, without
limitation, architectural and engineering data, customer and other marketing
data, custom databases, "know-how," formulae, secret processes or machines,
inventions, computer programs (including documentation of such programs) and
other information of a similar nature to the extent not available to the public,
and plans for future development. All Trade Secrets disclosed to or created by
the Executive during his employment hereunder shall be deemed to be the
exclusive property of the Company. The Executive acknowledges that Trade Secrets
have economic value to the Company due to the fact that Trade Secrets are not
generally known to the public or the trade and that the unauthorized use or
disclosure of Trade Secrets is likely to be detrimental to the interests of the
Company, Ascent and their affiliates. The Executive therefore agrees to hold in
strict confidence and not to disclose to any third party any Trade Secret
acquired or created or developed by the Executive during the Term of this
Agreement except (i) when the Executive is required to use or disclose any Trade
Secret in the proper course of the Executive's rendition of services to the
Company, Ascent or their affiliates hereunder, (ii) when such Trade Secret
becomes public knowledge other than through a breach of this Agreement, or (iii)
when the Executive is required to disclose any Trade Secret pursuant to any
valid court order in which the Executive is required to disclose such Trade
Secret. The Executive shall notify the Company immediately of any such court
order in order to enable the Company to contest such order's validity. After
termination of this Agreement, the Executive shall not use or otherwise disclose
Trade Secrets unless such information (x) becomes public knowledge or is
generally known in the sports industry among executives comparable to the
Executive other than through a breach of this Agreement, (y) is disclosed to the
Executive by a third party who is entitled to receive and disclose such Trade
Secret, or (z) is required to be disclosed pursuant to any valid court order, in
which case the Executive shall notify the Company immediately of any such court
order in order to enable the Company to contest such order's validity.

                                       4
<PAGE>

               b. Discoveries and Works. All discoveries and works made or
                  ---------------------
conceived by the Executive in connection with and during his employment by the
Company pursuant to this Agreement, jointly or with others, that relate to the
activities of the Company, Ascent or their affiliates ("Discoveries and Works")
shall be owned by the Company. Discoveries and Works shall include, without
limitation, architectural and engineering developments, marketing plans and
proposals, and other works of authorship, inventions, computer programs
(including documentation of such programs), technical improvements, processes
and drawings. The Executive shall (i) promptly notify, make full disclosure to,
and execute and deliver any documents requested by, the Company to evidence or
better assure title to such Discoveries and Works in the Company, (ii) assist
the Company in obtaining or maintaining for itself at its own expense United
States and foreign copyrights, trade secret protection or other protection of
any and all such Discoveries and Works, and (iii) promptly execute, whether
during his employment by the Company or thereafter, all applications or other
endorsements necessary or appropriate to maintain copyright and other rights for
the Company and to protect its title thereto.

               c. Non-Competition. As an inducement for the Company to enter
                  ---------------
into this Agreement, the Executive agrees that for a period commencing as of the
Effective Date and running through December 31, 2000 (the "Non-Competition
Period"), the Executive shall not, without the prior written consent of the
Committee, engage or participate, directly or indirectly, as principal, agent,
employee, employer, consultant, stockholder, partner or in any other individual
capacity whatsoever, in the conduct or management of, or own any stock or any
other equity investment in or debt of, any business which is or could reasonably
expected to be competitive with any business conducted or intended to be
conducted by the Company, Ascent or their affiliates. For the purpose of this
Agreement, a business shall be considered to be competitive with any business of
the Company, Ascent or their affiliates only if such business is engaged in
providing services or products (i) substantially similar to (A) any service or
product provided by the Company, Ascent or their affiliates during his period of
employment hereunder; (B) any service or product which directly evolves from or
directly results from enhancements in the

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ordinary course during the Non-Competition Period to the services or products
provided by the Company, Ascent or their affiliates as of the date hereof or
during his employment hereunder; or (C) any future service or product of the
Company, Ascent or their affiliates as to which the Executive materially and
substantially participate in the development or enhancement, and (ii) to
customers, distributors or clients served by the Company, Ascent and their
affiliates during the Non-Competition Period.

               d. Non-Solicitation of Employees. For a period commencing as of
                  -----------------------------
the Effective Date and running through the first anniversary of the termination
of the Executive's employment hereunder for any reason (the "Non-Solicitation
Period"), the Executive will not (for his own benefit or for the benefit of any
person or entity other than the Company, Ascent or their affiliates) solicit, or
assist any person or entity other than the Company, Ascent or their affiliates
to solicit, any officer, director, executive or employee (other than an
administrative or clerical employee) of the Company, Ascent or their affiliates
to leave his or her employment.

               e. Reasonableness; Interpretations. The Executive acknowledges
                  -------------------------------
and agrees, solely for purposes of determining the enforceability of this
Section 7, that (i) the markets served by the Company, Ascent and its affiliates
are national and international and are not dependent on the geographic location
of executive personnel or the businesses by which they are employed; (ii) the
length of the Non-Competition Period and the lengtho of the Non-Solicitation
Period are linked to the term of the Employment Period and the post-employment
payment provided for in Section 4; and (iii) the above covenants are reasonable
as an inducement for the Company to enter into this Agreement, and the parties
expressly agree that such restrictions have been designed to be reasonable and
no greater than is required for the protection of the Company. In the event that
the covenants in this Section 7 shall be determined by any court of competent
jurisdiction in any action to be unenforceable by reason of their extending for
too great a period of time or over too great a geographical area or by reason of
their being too extensive in any other respect, they shall be interpreted to
extend only over the maximum period of time for which

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they may be enforceable and/or to the maximum extent in all other respects as to
which they may be enforceable, all as determined by such court in such action.

               f. Investment. Nothing in this Agreement shall be deemed to
                  ----------
prohibit the Executive from owning equity or debt investments in any
corporation, partnership or other entity which is competitive with the Company,
Ascent or their affiliates, provided that such investments (i) are passive
investments and constitute five percent (5%) or less of the outstanding equity
securities of such an entity the equity securities of which are traded on a
national securities exchange or other public market, or (ii) are approved by the
Committee.

          8.   Enforcement. The Executive acknowledges that a breach of the
               -----------
covenants or provisions contained in Section 7 of this Agreement will cause
irreparable damage to the Company, Ascent and their affiliates, the exact amount
of which will be difficult to ascertain, and that the remedies at law for any
such breach will be inadequate. Accordingly, the Executive agrees that if the
Executive breaches or threatens to breach any of the covenants or provisions
contained in Section 7 of this Agreement, in addition to any other remedy which
may be available at law or in equity, the Company shall be entitled to specific
performance and injunctive relief, without posting bond.

          9.   Notices. All notices and other communications which are required
               -------
or may be given under this Agreement shall be in writing and shall be deemed to
have been duly given when received if personally delivered; when transmitted if
transmitted by telecopy, electronic or digital transmission method, provided
that in such case it shall also be sent by certified or registered mail, return
receipt requested; the day after it is sent, if sent for next day delivery to a
domestic address by recognized overnight delivery service (e.g., Federal
                                                           ----
Express); and upon receipt, if sent by certified or

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registered mail, return receipt requested. Unless otherwise changed by notice,
in each case notice shall be sent to:

     If to the Executive, addressed to:

          Donald M. Elliman Jr.
          [                    ]
          [                    ]

     If to the Company, addressed to:

          Ascent Entertainment Group
          Sports Business Committee
          1225 Seventeenth Street
          Denver, Colorado 80202
          Attention: Paul Gould and Chuck Neinas
          Telecopier No. (303) 308-0490

     With a copy to:

          Ascent Entertainment Group
          1225 Seventeenth Street
          Denver, Colorado 80202
          Attention: General Counsel
          Telecopier No. (303) 308-0489

          10. Severability. Subject to the last sentence of Section 7(e) hereof,
              ------------
if any provision of this Agreement shall be determined to be unenforceable or
prohibited by any applicable law, such provision shall be ineffective to the
extent, and only to the extent, of such unenforceability or prohibition without
invalidating the balance of such provision or any other provision of this
Agreement, and any such unenforceability or prohibition in any jurisdiction
shall not invalidate or render unenforceable such provision in any other
jurisdiction.

          11. Miscellaneous. This Agreement constitutes the entire agreement,
              -------------
and supersedes all prior understandings or agreements relating to the subject
matter hereof between Executive and the Company, Ascent or any affiliate thereof
(or any predecessor of any such entity). No amendment, supplement, modification
or waiver of this Agreement shall be binding unless executed in writing by the
party to be bound thereby. The validity, interpretation, performance and
enforcement of the Agree-

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ment shall be governed by the laws of the State of Colorado. The headings
contained herein are for reference purposes only and shall not in any way affect
the meaning or interpretation of this Agreement.

          12. Continuing Liability. Unless this Agreement or Employee's
              --------------------
employment hereunder is terminated in accordance with the express provisions
hereof, the parties shall have no right to terminate this Agreement or the
Employee's employment hereunder.

          IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.

EXECUTIVE                                   ASCENT SPORTS HOLDINGS, INC.

 /s/ Donald Elliman                         /s/ Charles M. Neinas
---------------------------                 ---------------------------------
Donald Elliman,                             By: Charles M. Neinas
Executive                                   Title: Chairman

                                       9<PAGE>

                                                                   Exhibit 10.14

                                 PixTech, Inc.
                  Amended and Restated 1993 Stock Option Plan

             As adopted by the Board of Directors on May 9, 1995,
                 approved by the Stockholders on May 19, 1995.
           As amended by the Board of Directors on February , 1997,
                approved by the Stockholders on March 24, 1997.
           As amended by the Board of Directors on February 3, 1999,
                approved by the Stockholders on April 27, 1999.

  This 1993 Stock Option Plan (the "Plan") is intended to encourage ownership
of Common Stock, $.01 par value (the "Stock") of Pixtech, Inc. (the "Company")
by its officers, employees and consultants so as to provide additional
incentives to promote the success of the Company through the grant of Incentive
Stock Options and Nonstatutory Stock Options (as such terms are defined in
Section 3(a) below (collectively, "Options").

  1.  Administration of the Plan.
      --------------------------

  The administration of the Plan shall be under the general supervision of any
committee of the Board appointed by the Board to administer the Plan, the
members of which are `Non-Employee Directors' within the meaning of Rule 16b-3
under the Securities Exchange Act of 1934, as amended, or any successor
provision (the "Rule") to the extent necessary to comply with the Rule (the
"Compensation Committee"). Within the limits of the Plan, the Compensation
Committee shall determine the individuals to whom, and the times at which,
Options shall be granted, the type of Option to be granted, the duration of each
Option, the price and method of payment for each Option, and the time or times
within which (during its term) all or portions of each Option may be exercised.
The Compensation Committee may establish such rules as it deems necessary for
the proper administration of the Plan, make such determinations and
interpretations with respect to the Plan and Options granted under it as may be
necessary or desirable and include such further provisions or conditions in
Options granted under the Plan as it deems advisable.  To the extent permitted
by law, the Compensation Committee may delegate its authority under the Plan to
a sub-committee of the Compensation Committee.

  2.  Shares Subject to the Plan.
      --------------------------

      (a)  Number and Type of Shares. The aggregate number of shares of Stock of
the Company which may be optioned under the Plan is 5,156,372 shares. In the
event that the Compensation Committee in its discretion determines that any
stock dividend, split-up, combination or reclassification of shares,
recapitalization or other similar capital change affects the Stock such that
adjustment is required in order to preserve the benefits or potential benefits
of the Plan or any Option granted under the Plan, the maximum aggregate number
and kind of shares or securities of the Company as to which Options may be
granted under the Plan and as to which Options then outstanding shall be
exercisable, and the option price of such Options, shall be appropriately
adjusted by the Compensation Committee (whose determination shall be conclusive)
so that the proportionate number of shares or other securities as to which
Options

<PAGE>

may be granted and the proportionate interest of holders of outstanding
Options shall be maintained as before the occurrence of such event.

      (b)  Effect of Certain Transactions. In the event of a consolidation or
merger of the Company with another corporation, or the sale or exchange of all
or substantially all of the assets of the Company, or a reorganization or
liquidation of the Company, each holder of an outstanding Option shall be
entitled to receive upon exercise and payment in accordance with the terms of
the Option the same shares, securities or property as he would have been
entitled to receive upon the occurrence of such event if he had been,
immediately prior to such event, the holder of the number of shares of Stock
purchasable under his Option; provided, however, that in lieu of the foregoing
the Board of Directors of the Company (the "Board") may upon written notice to
each holder of an outstanding Option provide that such Option shall terminate on
a date not less than 20 days after the date of such notice unless theretofore
exercised. In connection with such notice, the Board may in its discretion
accelerate or waive any deferred exercise period.

      (c)  Restoration of Shares.  If any Option expires or is terminated
unexercised or is forfeited for any reason or settled in a manner that results
in fewer shares outstanding than were initially awarded, including without
limitation the surrender of shares in payment of the Option exercise price or
any tax obligation thereon, the shares subject to such Option or so surrendered,
as the case may be, to the extent of such expiration, termination, forfeiture or
decrease, shall again be available for granting Options under the Plan, subject,
however, in the case of Incentive Stock Options, to any requirements under the
Code (as defined below).

      (d)  Reservation of Shares. The Company shall at all times while the Plan
is in force reserve such number of shares of Stock as will be sufficient to
satisfy the requirements of the Plan. Shares issued under the Plan may consist
in whole or in part of authorized but unissued shares or treasury shares.

  3.  Grant of Options; Eligible Persons
      ----------------------------------

      (a)  Types of Options. Options shall be granted under the Plan either as
incentive stock options ("Incentive Stock Options"), as defined in Section 422
of the Internal Revenue Code of l986, as amended (the "Code") or as Options
which do not meet the requirements of Section 422 ("Nonstatutory Stock
Options"). Options may be granted from time to time by the Compensation
Committee, within the limits set forth in Sections l and 2 of the Plan, to all
employees of the Company or of any parent corporation or subsidiary corporation
of the Company (as defined in Sections 424(e) and (f), respectively, of the
Code), and, with regard to Nonstatutory Stock Options, to all employees and
consultants of the Company or of any such parent corporation or subsidiary
corporation.

      (b)  Date of Grant. The date of grant for each Option shall be the date on
which it is approved by the Compensation Committee, or such later date as the
Compensation Committee may specify. No Options shall be granted hereunder after
ten years from the date on which the Plan was approved by the Board.

      (c)  Automatic Awards. The Compensation Committee may provide for the
automatic award of an Option upon the delivery of shares to the Company in
payment of an Option for up to the number of shares so delivered.

                                                                          Page 2
<PAGE>

  4.  Form of Options.
      ---------------

  Options granted hereunder shall be evidenced by a writing delivered to the
optionee specifying the terms and conditions thereof and containing such other
terms and conditions not inconsistent with the provisions of the Plan as the
Compensation Committee considers necessary or advisable to achieve the purposes
of the Plan or comply with applicable tax and regulatory laws and accounting
principles.  The form of such Options may vary among optionees.

  5.  Option Price.
      ------------

  In the case of Incentive Stock Options, the price at which shares may from
time to time be optioned shall be determined by the Compensation Committee,
provided that such price shall not be less than the fair market value of the
Stock on the date of granting as determined in good faith by the Compensation
Committee; and provided further that no Incentive Stock Option shall be granted
to any individual who is ineligible to be granted an Incentive Stock Option
because his ownership of stock of the Company or its parent or subsidiary
corporations exceeds the limitations set forth in Section 422(b)(6) of the Code
unless such option price is at least ll0% of the fair market value of the Stock
on the date of grant.

  In the case of Nonstatutory Stock Options, the price at which shares may from
time to time be optioned shall be determined by the Compensation Committee.

  The Compensation Committee may in its discretion permit the option price to be
paid in whole or in part by a note or in installments or with shares of Stock of
the Company or such other lawful consideration as the Compensation Committee may
determine.

  6.  Term of Option and Dates of Exercise.
      ------------------------------------

      (a)  Exercisability. The Compensation Committee shall determine the term
of all Options, the time or times that Options are exercisable and whether they
are exercisable in installments; provided, however, that the term of each non-
statutory stock option granted under the Plan shall not exceed a period of
eleven years from the date of its grant and the term of each Incentive Stock
Option granted under the Plan shall not exceed a period of ten years from the
date of its grant, provided that no Incentive Stock Option shall be granted to
any individual who is ineligible to be granted such Option because his ownership
of stock of the Company or its parent or subsidiary corporations exceeds the
limitations set forth in Section 422(b)(6) of the Code unless the term of his
Incentive Stock Option does not exceed a period of five years from the date of
its grant. In the absence of such determination, the Option shall be exercisable
at any time or from time to time, in whole or in part, during a period of ten
years from the date of its grant or, in the case of an Incentive Stock Option,
the maximum term of such Option.

      (b)  Effect of Disability, Death or Termination of Employment.  The
Compensation Committee shall determine the effect on an Option of the
disability, death, retirement or other termination of employment of an optionee
and the extent to which, and during the period which, the optionee's estate,
legal representative, guardian, or beneficiary on death may exercise rights
thereunder.  Any beneficiary on death shall be designated by the optionee, in
the manner determined by the Compensation Committee, to exercise rights of the
optionee in the case of the optionee's death.

                                                                          Page 3
<PAGE>

      (c)  Other Conditions. The Compensation Committee may impose such
conditions with respect to the exercise of Options, including conditions
relating to applicable federal or state securities laws, as it considers
necessary or advisable.

      (d)  Withholding. The optionee shall pay to the Company, or make provision
satisfactory to the Compensation Committee for payment of, any taxes required by
law to be withheld in respect of any Options under the Plan no later than the
date of the event creating the tax liability. In the Compensation Committee's
discretion, such tax obligations may be paid in whole or in part in shares of
Stock, including shares retained from the exercise of the Option creating the
tax obligation, valued at the fair market value of the Stock on the date of
delivery to the Company as determined in good faith by the Compensation
Committee. The Company and any parent corporation or subsidiary corporation of
the Company (as defined in Sections 424(e) and (f), respectively, of the Code)
may, to the extent permitted by law, deduct any such tax obligations from any
payment of any kind otherwise due to the optionee.

      (e)  Amendment of Options. The Compensation Committee may amend, modify or
terminate any outstanding Option, including substituting therefor another Option
of the same or different type, changing the date of exercise or realization and
converting an Incentive Stock Option to a Nonstatutory Stock Option, provided
that the optionee's consent to such action shall be required unless the
Compensation Committee determines that the action, taking into account any
related action, would not materially and adversely affect the optionee.

  7.  Limitations on Transferability.
      ------------------------------

  Options granted under the Plan shall not be transferable by the recipient
otherwise than by will or the laws of descent and distribution, and are
exercisable, during such person's lifetime, only by such person or by such
person's guaradian or legal representative; provided that the Compensation
Committee may in its discretion waive such restrictions in any particular case.

  8.  No Right to Employment.
      ----------------------

  No persons shall have any claim or right to be granted an Option, and the
grant of an Option shall not be construed as giving an optionee the right to
continued employment.  The Company expressly reserves the right at any time to
dismiss an optionee free from any liability or claim under the Plan, except as
specifically provided in the applicable Option.

  9.  No Rights as a Shareholder.
      --------------------------

  Subject to the provisions of the applicable Option, no optionee or any person
claiming through an optionee shall have any rights as a shareholder with respect
to any shares of Stock to be distributed under the Plan until he or she becomes
the holder thereof.

  10.  Amendment or Termination.
       ------------------------

  The Board may amend or terminate the Plan at any time, provided that no
amendment shall be made without stockholder approval if such approval is
necessary to comply with any applicable tax or regulatory requirement.

                                                                          Page 4
<PAGE>

  11.  Stockholder Approval.
       --------------------

  The Plan is subject to approval by the stockholders of the Company by the
affirmative vote of the holders of a majority of the shares of capital stock of
the Company entitled to vote thereon and present or represented at a meeting
duly held in accordance with the laws of the State of Delaware, or by any other
action that would be given the same effect under the laws of such jurisdiction,
which action in either case shall be taken within twelve (12) months from the
date the Plan was adopted by the Board.  In the event such approval is not
obtained, all Options granted under the Plan shall be void and without effect.

  12.  Governing Law.
       -------------

  The provisions of the Plan shall be governed by and interpreted in accordance
with the laws of Delaware.

                                                                          Page 5

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