Document:

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                                                                   Exhibit 10.32

                           U.S.I. HOLDINGS CORPORATION
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                  1995 LONG TERM INCENTIVE AND SHARE AWARD PLAN
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                              U.S.I. HOLDINGS CORP.
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                 1995 LONG TERM INCENTIVE AND SHARE AWARD PLAN
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Section                                                           Page

        1. Purposes ...............................................  1

        2. Definitions ............................................  1

        3. Administration .........................................  4

           (a) Authority of the Committee .........................  4
           (b) Manner of Exercise of Committee Authority ..........  6
           (c) Limitation of Liability ............................  7

        4. Shares Subject to the Plan .............................  7

        5. Specific Terms of Awards ...............................  9

           (a) General ............................................  9
           (b) Options ............................................ 10
           (c) SARs ............................................... 11
           (d) Restricted Shares .................................. 12
           (e) Restricted Share Units ............................. 14
           (f) Performance Shares and Performance Units ........... 15
           (g) Dividend Equivalents ............................... 17
           (h) Other Share-Based Awards ........................... 17

        6. Certain Provisions Applicable to Awards ................ 18

           (a) Stand-Alone, Additional, Tandem and
                Substitute Awards ................................. 18
           (b) Terms of Awards .................................... 19
           (c) Form of Payment Under Awards ....................... 19
           (d) Nontransferability ................................. 20

        7. Limitation on Awards ................................... 20

           (a) Limitation on Exercise ............................. 20
           (b) Restrictions on Transfer of Shares ................. 21

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Section                                                           Page

        8. General Provisions ..................................... 22

           (a) Conmliance with Legal and Trading Requirements ..... 22
           (b) No Right to Continued Employment or Service ........ 23
           (c) Taxes .............................................. 23
           (d) Changes to the Plan and Awards ..................... 24
           (e) No Rights to Awards; No Shareholder Rights ......... 24
           (f) Unfunded Status of Awards .......................... 25
           (g) Nonexclusivity of the Plan ......................... 25
           (h) No Compensation for Benefit Plan ................... 26
           (i) No Fractional Shares ............................... 26
           (j) Governing Law ...................................... 26
           (k) Effective Date; Plan Termination ................... 26
           (1) Titles and Headings ................................ 27

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                           U.S.I. HOLDINGS CORPORATION
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                  1995 LONG TERM INCENTIVE AND SHARE AWARD PLAN
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     1. Purposes. The purposes of the 1995 Long Term Incentive and Share Award
Plan are to advance the interests of U.S.I. Holdings Corporation, its
Subsidiaries and its shareholders by providing a means to attract, retain and
motivate employees and directors of, and advisors and consultants to, the
Company and its Subsidiaries upon whose judgment, initiative and efforts the
continued success, growth and development of the Company is dependent.

     2. Definitions. For purposes of the Plan, the following terms shall be
defined as set forth below:

          (a) "Affiliate" means any entity other than the Company and its
     Subsidiaries that is designated by the Board or the Committee as a
     participating employer under the Plan, provided that the Company directly
     or indirectly owns at least 20% of the combined voting power of all classes
     of stock of such entity or at least 20% of the ownership interests in such
     entity.

          (b) "Award" means any Option, SAR, Restricted Share, Restricted Share
     Unit, Performance Share, Performance Unit, Dividend Equivalent, or Other
     Share-Based Award granted to an Eligible Employee under the Plan.

          (c) "Award Agreement" means any written agreement, contract, or other
     instrument or document evidencing an Award.

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               (d) "Beneficiary" means the person, persons, trust or trusts
          which have been designated by such Eligible Employee in his or her
          most recent written beneficiary designation filed with the Company to
          receive the benefits specified under this Plan upon the death of the
          Eligible Employee, or, if there is no designated Beneficiary or
          surviving designated Beneficiary, then the person, persons, trust or
          trusts entitled by will or the laws of descent and distribution to
          receive such benefits.

               (e) "Board" means the Board of Directors of the Company.

               (f) "Code" means the Internal Revenue Code of 1986, as amended
          from time to time. References to any provision of the Code shall be
          deemed to include successor provisions thereto and regulations
          thereunder.

               (g) "Committee" means the Compensation Committee of the Board, or
          such other Board committee as may be designated by the Board to
          administer the Plan.

               (h) "Company" means U.S.I. Holdings Corporation, a corporation
          organized under the laws of Delaware, or any successor corporation.

               (i) "Dividend Equivalent" has the meaning set forth in Section
          5(g).

               (j) "Eligible Employee" means an employee or director of, or
          advisor or consultant to, the Company or any of its Subsidiaries and
          Affiliates, who is responsible for or contributes to the management,
          growth and/or profitability of the business of the Company or any of
          its Subsidiaries or Affiliates.

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               (k) "Exchange Act" means the Securities Exchange Act of 1934, as
          amended from time to time. References to any provision of the Exchange
          Act shall be deemed to include successor provisions thereto and
          regulations thereunder.

               (l) "Fair Market Value" means, with respect to Shares or other
          property, the fair market value of such Shares or other property
          determined by such methods or procedures as shall be established from
          time to time by the Committee and as evidenced in the Award Agreement
          related to such Share or other property.

               (m) "ISO" means any Option intended to be and designated as an
          incentive stock option within the meaning of Section 422 of the Code.

               (n) "NQSO" means any Option that is not an ISO.

               (o) "Option" has the meaning set forth in Section 5(b).

               (p) "Other Share-Based Award" means a right granted under Section
          5(h).

               (q) "Participant" means an Eligible Employee who has been granted
          an Award under the Plan.

               (r) "Performance Share" means a performance share granted under
          Section 5(f).

               (s) "Performance Unit" means a performance unit granted under
          Section 5(f).

               (t) "Plan" means this 1994 Long Term Incentive and Share Award
          Plan.

               (u) "Restricted Shares" means an Award of Shares under Section
          5(d).

               (v) "Restricted Share Unit" means a right granted under Section
          5(e).

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     (w) "Rule 16b-3" means Rule 16b-3, as from time to time in effect and
applicable to the Plan and Participants, promulgated by the Securities and
Exchange Commission under Section 16 of the Exchange Act.

     (x) "SAR" or "Share Appreciation Right" means a right granted under Section
5(c).

     (aa) "Shares" means common stock, $.01 par value per share, of the Company.

     (bb) "Subsidiary" means any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company if each of the
corporations (other than the last corporation in the unbroken chain) owns shares
possessing 50% or more of the total combined voting power of all classes of
stock in one of the other corporations in the chain.

     3. Administration.

     (a) Authority of the Committee. Except as provided in Section 7, the Plan
shall be administered by the Committee, and the Committee shall have full and
final authority to take the following actions, in each case subject to and
consistent with the provisions of the Plan:

          (i) to select Eligible Employees to whom Awards may be granted;

          (ii) to designate Affiliates;

          (iii) to determine the type or types of Awards to be granted to each
     Eligible Employee;

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               (iv) to determine the type and number of Awards to be granted,
          the number of Shares to which an Award may relate, the terms and
          conditions of any Award granted under the Plan (including, but not
          limited to, any exercise price, grant price, or purchase price, and
          any bases for adjusting such exercise, grant or purchase price, any
          methods or procedures for determining Fair Market Value, any
          restriction or condition, any schedule for lapse of restrictions or
          conditions relating to transferability or forfeiture, exercisability,
          or settlement of an Award, and waiver or accelerations thereof, and
          waivers of performance conditions relating to an Award, based in
          each case on such considerations as the Committee shall determine),
          and all other matters to be determined in connection with an Award;

               (v) to determine whether, to what extent, and under what
          circumstances an Award may be settled, or the exercise price of an
          Award may be paid, in cash, Shares, other Awards, or other property,
          or an Award may be cancelled, forfeited, exchanged, or surrendered;

               (vi) to determine whether, to what extent, and under what
          circumstances cash, Shares, other Awards, or other property payable
          with respect to an Award will be deferred either automatically, at the
          election of the Committee, or at the election of the Eligible
          Employee;

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               (vii) to prescribe the form of each Award Agreement, which need
          not be identical for each Eligible Employee;

               (viii) to adopt, amend, suspend, waive, and rescind such rules
          and regulations and appoint such agents as the Committee may deem
          necessary, or advisable to administer the Plan;

               (ix) to correct any defect or supply any omission or reconcile
          any inconsistency in the Plan and to construe and interpret the Plan
          and any Award, rules and regulations, Award Agreement, or other
          instrument hereunder;

               (x) to make all other decisions and determinations as may be
          required under the terms of the Plan or as the Committee may deem
          necessary or advisable for the administration of the Plan.

          (b) Manner of Exercise of Committee Authority. The Committee shall
     have sole discretion in exercising its authority under the Plan. Any action
     of the Committee with respect to the Plan shall be final, conclusive, and
     binding on all persons, including the Company, Subsidiaries, Affiliates,
     Eligible Employees, any person claiming any rights under the Plan from or
     through any Eligible Employee, and shareholders. The express grant of any
     specific power to the Committee, and the taking of any action by the
     Committee, shall not be construed as limiting any power or authority of
     the Committee. The Committee may delegate to officers or managers of the
     Company or any Subsidiary or Affiliate the authority,

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                                       -7-

subject to such terms as the Committee shall determine, to perform
administrative functions and, with respect to Awards granted to persons not
subject to Section 16 of the Exchange Act, to perform such other functions as
the Committee may determine, to the extent permitted under Rule 16b-3 (if
applicable) and applicable law.

     (c) Limitation of Liability. Each member of the Committee shall be entitled
to, in good faith, rely or act upon any report or other information furnished to
him or her by any director (acting in his capacity as director), officer or
other employee of the Company or any Subsidiary or Affiliate, the Company's
independent certified public accountants, or other professional retained by the
Company to assist in the administration of the Plan. No member of the Committee,
nor any officer or employee of the Company acting on behalf of the Committee,
shall be personally liable for any action, determination, or interpretation
taken or made in good faith with respect to the Plan, and all members of the
Committee and any officer or employee of the Company acting on their behalf
shall, to the extent permitted by law, be fully indemnified and protected by the
Company with respect to any such action, determination, or interpretation.

     4. Shares Subject to the Plan.

     (a) Subject to adjustment as hereinafter provided, the total number of
Shares reserved for issuance in connection with Awards under the Plan shall be
1,000,000. No Award may be granted if the number of Shares issuable pursuant to
an Award, when added to the number of Shares previously issued under the Plan,
exceeds the number

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of Shares reserved under the preceding sentence. If any Shares issued pursuant
to an Award are forfeited, cancelled, exchanged or surrendered or such Award is
settled in cash or otherwise terminates without a distribution of Shares to the
Participant, any Shares counted against the number of Shares reserved and
available under the Plan with respect to such Award shall, to the extent of any
such forfeiture, settlement, termination, cancellation, exchange or surrender,
again be available for Awards under the Plan; provided, however, that in the
case of forfeiture, cancellation, exchange or surrender of Restricted Shares or
Restricted Share Units with respect to which dividends or Dividend Equivalents
have been paid or accrued, such number of Shares shall not be available for
Awards unless, in the case of Shares with respect to which dividends or Dividend
Equivalents were accrued but unpaid, such dividends and Dividend Equivalents are
also forfeited, cancelled, exchanged or surrendered. Upon the exercise of any
Award granted in tandem with any other Awards, such related Awards shall be
cancelled to the extent of the number of Shares as to which the Award is
exercised.

     (b) Any Shares distributed pursuant to an Award may consist, in whole or in
part, of authorized and unissued Shares or treasury Shares including Shares
acquired by purchase in the open market or in private transactions.

     (c) In the event that the Committee shall determine that any dividend in
Shares, recapitalization, Share split, reverse split, reorganization, merger,
consolidation,

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spin-off, combination, repurchase, or share exchange, or other similar corporate
transaction or event, affects the Shares such that an adjustment is appropriate
in order to prevent dilution or enlargement of the rights of Eligible Employees
under the Plan, then the Committee shall make such equitable changes or
adjustments as it deems appropriate and, in such manner as it may deem
equitable, adjust any or all of (i) the number and kind of Shares which may
thereafter be issued under the Plan, (ii) the number and kind of Shares issued
or issuable in respect of outstanding Awards, and (iii) the exercise price,
grant price, or purchase price relating to any Award; provided, however, in each
case that, with respect to ISOs, such adjustment shall be made in accordance
with Section 424(h) of the Code, unless the Committee determines otherwise. In
addition, the Committee is authorized to make adjustments in the terms and
conditions of, and the criteria and performance objectives included in, Awards
in recognition of unusual or non-recurring events (including, without
limitation, events described in the preceding sentence) affecting the Company or
any Subsidiary or Affiliate or the financial statements of the Company or any
Subsidiary or Affiliate, or in response to changes in applicable laws,
regulations, or accounting principles.

     5. Specific Terms of Awards.

     (a) General. Awards may be granted on the terms and conditions set forth in
this Section 5. In addition, the Committee, may impose on any Award or the
exercise thereof, at the date of grant or thereafter (subject to Section 8(d)),
such

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additional terms and conditions, not inconsistent with the provisions of the
Plan, as the Committee shall determine, including terms regarding forfeiture of
Awards or continued exercisability of Awards in the event of termination of
employment by the Eligible Employee.

     (b) Options. The Committee is authorized to grant rights to purchase Shares
("Options"), which may be NQSOs or ISOs, to Eligible Employees on the following
terms and conditions:

          (i) Exercise Price. The exercise price per Share purchasable under an
     Option shall be determined by the Committee, and the Committee may, without
     limitation, set an exercise price that is based upon achievement of
     performance criteria if deemed appropriate by the Committee.

          (ii) Time and Method of Exercise. The Committee shall determine at the
     date of grant or thereafter the time or times at which an Option may be
     exercised in whole or in part (including, without limitation, upon
     achievement of performance criteria if deemed appropriate by the
     Committee), the methods by which such exercise price may be paid or deemed
     to be paid (including, without limitation, broker-assisted exercise
     arrangements), the form of such payment (including, without limitation,
     cash, Shares, notes or other property), and the methods by which Shares
     will be delivered or deemed to be delivered to Eligible Employees.

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          (iii) ISOs. The terms of any ISO granted under the Plan shall comply
     in all respects with the provisions of Section 422 of the Code.

     (c) SARs. The Committee is authorized to grant SARs (Share Appreciation
Rights) to Eligible Employees on the following terms and conditions:

          (i) Right to Payment. An SAR shall confer on the Eligible Employee to
     whom it is granted a right to receive, upon exercise thereof, the excess of
     (1) the Fair Market Value of one Share on the date of exercise (or, if the
     Committee shall so determine in the case of any such right, including, in
     the Committee's discretion, one related to an ISO, the Fair Market Value of
     one Share at any time during a specified period before or after the date of
     exercise) over (2) the base reference value of the SAR as determined by the
     Committee as of the date of grant of the SAR (or, in the case of an SAR
     granted in tandem with an Option, the exercise price of the underlying
     Option).

          (ii) Other Terms. The Committee shall determine, at the time of grant
     or thereafter, the time or times at which an SAR may be exercised in whole
     or in part, the method of exercise, method of settlement, form of
     consideration payable in settlement, method by which Shares will be
     delivered or deemed to be delivered to Eligible Employees, whether or not
     an SAR shall be in tandem with any other Award, and any other terms and
     conditions of any SAR. Unless the Committee determines otherwise, an SAR
     (1) granted in

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     tandem with an NQSO may be granted at the time of grant of the related NQSO
     or at any time thereafter or (2) granted in tandem with an ISO may only be
     granted at the time of grant of the related ISO.

     (d) Restricted Shares. The Committee is authorized to grant Restricted
Shares to Eligible Employees on the following terms and conditions:

          (i) Issuance and Restrictions. Restricted Shares shall be subject to
     such restrictions on transferability and other restrictions, if any, as the
     Committee may impose at the date of grant or thereafter, which restrictions
     may lapse separately or in combination at such times, under such
     circumstances (including, without limitation, upon achievement of
     performance criteria if deemed appropriate by the Committee), in such
     installments, or otherwise, as the Committee may determine. Except to the
     extent restricted under the Award Agreement relating to the Restricted
     Shares, an Eligible Employee granted Restricted Shares shall have all of
     the rights of a shareholder including, without limitation, the right to
     vote Restricted Shares and the right to receive dividends thereon.

          (ii) Forfeiture. Except as otherwise determined by the Committee, at
     the date of grant or thereafter, upon termination of employment during the
     applicable restriction period, Restricted Shares and any accrued but unpaid
     dividends or Dividend Equivalents that are at that time subject to
     restrictions

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shall be forfeited; provided, however, that the Committee may provide, by rule
or regulation or in any Award Agreement, or may determine in any individual
case, that restrictions or forfeiture conditions relating to Restricted Shares
will be waived in whole or in part in the event of terminations resulting from
specified causes, and the Committee may in other cases waive in whole or in part
the forfeiture of Restricted Shares.

     (iii) Certificates for Shares. Restricted Shares granted under the Plan may
be evidenced in such manner as the Committee shall determine. If certificates
representing Restricted Shares are registered in the name of the Eligible
Employee, such certificates shall bear an appropriate legend referring to the
terms, conditions, and restrictions applicable to such Restricted Shares, and
the Company may retain physical possession of the certificate.

     (iv) Dividends. Dividends paid on Restricted Shares shall be either paid at
the dividend payment date, or deferred for payment to such date as determined by
the Committee, in cash or in unrestricted Shares having a Fair Market Value
equal to the amount of such dividends. Shares distributed in connection with a
Share split or dividend in Shares, and other property distributed as a dividend,
shall be subject to restrictions and a risk of forfeiture to the same extent as
the Restricted Shares with respect to which such Shares or other property has
been distributed.

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     (e) Restricted Share Units. The Committee is authorized to grant Restricted
Share Units to Eligible Employees, subject to the following terms and
conditions:

          (i) Award and Restrictions. Delivery of Shares or cash, as the case
     may be, will occur upon expiration of the deferral period specified for
     Restricted Share Units by the Committee (or, if permitted by the Committee,
     as elected by the Eligible Employee). In addition, Restricted Share Units
     shall be subject to such restrictions as the Committee may impose, if any
     (including, without limitation, the achievement of performance criteria if
     deemed appropriate by the Committee), at the date of grant or thereafter,
     which restrictions may lapse at the expiration of the deferral period or at
     earlier or later specified times, separately or in combination, in
     installments or otherwise, as the Committee may determine.

          (ii) Forfeiture. Except as otherwise determined by the Committee at
     date of grant or thereafter, upon termination of employment (as determined
     under criteria established by the Committee) during the applicable deferral
     period or portion thereof to which forfeiture conditions apply (as provided
     in the Award Agreement evidencing the Restricted Share Units), or upon
     failure to satisfy any other conditions precedent to the delivery of Shares
     or cash to which such Restricted Share Units relate, all Restricted Share
     Units that are at that time subject to deferral or restriction shall be
     forfeited; provided, however,

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     that the Committee may provide, by rule or regulation or in any Award
     Agreement, or may determine in any individual case, that restrictions or
     forfeiture conditions relating to Restricted Share Units will be waived in
     whole or in part in the event of termination resulting from specified
     causes, and the Committee may in other cases waive in whole or in part the
     forfeiture of Restricted Share Units.

     (f) Performance Shares and Performance Units. The Committee is authorized
to grant Performance Shares or Performance Units or both to Eligible Employees
on the following terms and conditions:

          (i) Performance Period. The Committee shall determine a performance
     period (the "Performance Period") of one or more years and shall determine
     the performance objectives for grants of Performance Shares and Performance
     Units. Performance objectives may vary from Eligible Employee to Eligible
     Employee and shall be based upon such performance criteria as the Committee
     may deem appropriate. Performance Periods may overlap and Eligible
     Employees may participate simultaneously with respect to Performance Shares
     and Performance Units for which different Performance Periods are
     prescribed.

          (ii) Award Value. At the beginning of a Performance Period, the
     Committee shall determine for each Eligible Employee or group of Eligible

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Employees with respect to that Performance Period the range of number of Shares,
if any, in the case of Performance Shares, and the range of dollar values, if
any, in the case of Performance Units, which may be fixed or may vary in
accordance with such performance or other criteria specified by the Committee,
which shall be paid to an Eligible Employee as an Award if the relevant measure
of Company performance for the Performance Period is met.

     (iii) Significant Events. If during the course of a Performance Period
there shall occur significant events as determined by the Committee which the
Committee expects to have a substantial effect on a performance objective during
such period, the Committee may revise such objective.

     (iv) Forfeiture. Except as otherwise determined by the Committee, at the
date of grant or thereafter, upon termination of employment during the
applicable Performance Period, Performance Shares and Performance Units for
which the Performance Period was prescribed shall be forfeited; provided,
however, that the Committee may provide, by rule or regulation or in any Award
Agreement, or may determine in an individual case, that restrictions or
forfeiture conditions relating to Performance Shares and Performance Units will
be waived in whole or in part in the event of terminations resulting from
specified causes, and the Committee may in other cases waive in whole or in part
the forfeiture of Performance Shares and Performance Units.

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          (v) Payment. Each Performance Share or Performance Unit may be paid in
     whole Shares, or cash, or a combination of Shares and cash either as a lump
     sum payment or in annual installments, all as the Committee shall
     determine, at the time of grant of the Performance Share or Performance
     Unit or otherwise; commencing as soon as practicable after the end of the
     relevant Performance Period.

     (g)  Dividend Equivalents. The Committee is authorized to grant rights to
receive cash, Shares, or other property equal in value to dividends paid with
respect to a specified number of Shares ("Dividend Equivalents") to Eligible
Employees. Dividend Equivalents may be awarded on a free-standing basis or in
connection with another Award, and may be paid currently or on a deferred basis.
The Committee may provide, at the date of grant or thereafter, that Dividend
Equivalents shall be paid or distributed when accrued or shall be deemed to have
been reinvested in additional Shares, or other investment vehicles as the
Committee may specify, provided that Dividend Equivalents (other than
freestanding Dividend Equivalents) shall be subject to all conditions and
restrictions of the underlying Awards to which they relate.

     (h)  Other Share-Based Awards. The Committee is authorized, subject to
limitations under applicable law, to grant to Eligible Employees such other
Awards that may be denominated or payable in, valued in whole or in part by
reference to, or otherwise based on, or related to, Shares, as deemed by the
Committee to be consistent

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                                      -18-

with the purposes of the Plan, including, without limitation, unrestricted
shares awarded purely as a "bonus" and not subject to any restrictions or
conditions, other rights convertible or exchangeable into Shares, purchase
rights for Shares, Awards with value and payment contingent upon performance of
the Company or any other factors designated by the Committee, and Awards valued
by reference to the performance of specified Subsidiaries or Affiliates. The
Committee shall determine the terms and conditions of such Awards at date of
grant or thereafter. Shares delivered pursuant to an Award in the nature of a
purchase right granted under this Section 5(h) shall be purchased for such
consideration, paid for at such times, by such methods, and in such forms,
including, without limitation, cash, Shares, notes or other property, as the
Committee shall determine. Cash awards, as an element of or supplement to any
other Award under the Plan, shall also be authorized pursuant to this
Section 5(h).

     6. Certain Provisions Applicable to Awards.

    (a) Stand-Alone, Additional, Tandem and Substitute Awards. Awards granted
under the Plan may, in the discretion of the Committee, be granted to Eligible
Employees either alone or in addition to, in tandem with, or in exchange or
substitution for, any other Award granted under the Plan or any award granted
under any other plan or agreement of the Company, any Subsidiary or Affiliate,
or any business entity to be acquired by the Company or a Subsidiary or
Affiliate, or any other right of an Eligible Employee to receive payment from
the Company or any

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                                      -19-

Subsidiary or Affiliate. Awards may be granted in addition to or in tandem with
such other Awards or awards, and may be granted either as of the same time as or
a different time from the grant of such other Awards or awards. The per Share
exercise price of any Option, base reference value of any SAR, or purchase price
of any other Award conferring a right to purchase Shares which is granted, in
connection with the substitution of awards granted under any other plan or
agreement of the Company or any Subsidiary or Affiliate or any business entity
to be acquired by the Company or any Subsidiary or Affiliate, shall be
determined by the Committee, in its discretion.

     (b) Terms of Awards. The term of each Award granted to an Eligible Employee
shall be for such period as may be determined by the Committee; provided.
however, that in no event shall the term of any ISO or an SAR granted in tandem
therewith exceed a period of ten years from the date of its grant (or such
shorter period as may be applicable under Section 422 of the Code).

     (c) Form of Payment Under Awards. Subject to the terms of the Plan and any
applicable Award Agreement, payments to be made by the Company or a Subsidiary
or Affiliate upon the grant, maturation, or exercise of an Award may be made in
such forms as the Committee shall determine at the date of grant or thereafter,
including, without limitation, cash, Shares, or other property, and may be made
in a single payment or transfer, in installments, or on a deferred basis. The
Committee may

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                                      -20-

make rules relating to installment or deferred payments with respect to Awards,
including the race of interest to be credited with respect to such payments.

     (d) Nontransferability. Awards shall not be transferable by an Eligible
Employee except (i) pursuant to a designation of Beneficiary, to take effect
upon the death of the Eligible Employee, or in the absence of such a designation
then by will or the laws of descent and distribution, or (ii) in the case of a
NQSO or Restricted Share Award, then to a transferee permitted under the terms
of the governing Award Agreement provided that such transferee agrees to be
bound by the terms of such Award Agreement. Awards shall be exercisable during
the lifetime of an Eligible Employee only by such Eligible Employee, his
guardian or legal representative, or in the case of a NQSO or Restricted Share
Award a permitted transferee described in the immediately preceding sentence. An
Eligible Employee's rights under the Plan may not be pledged, mortgaged,
hypothecated, or otherwise encumbered, and shall not be subject to claims of the
Eligible Employees creditors.

     7.  Limitation on Awards

     (a) Limitation on Exercise. At any time when the Shares issuable pursuant
to the Plan are not included in an effective registration statement under the
Securities Act of 1933, as amended (the "Securities Act"), no Award may be
granted if the aggregate number of Shares, which (1) are issuable pursuant to
such Award, (2) are issuable pursuant to any outstanding Award previously
granted under the Plan, or (3)

<PAGE>

                                      -21-

have been issued during the twelve months preceding the date of determination
pursuant to an Award granted under the Plan, shall exceed such number as would:

          (i)   have an Aggregate Offering Price greater than the higher of;

                (A) $500,000; or

                (B) 15 percent of the total assets of the Company as of the last
          day of its most recently completed fiscal year;

          (ii)  equal 15 percent of the outstanding Shares, including Shares
     issuable pursuant to the exercise of outstanding options, warrants, rights
     or conversion of convertible securities (other than any such options,
     warrants, rights or convertible securities issued in reliance on Rule 701
     under the Securities Act); or

          (iii) have an Aggregate Offering Price greater than $5,000,000.

     "Aggregate Offering Price" means the sum of all cash, property, notes,
cancellation of debt or other consideration to be received upon the issuance of
securities.

     (b) Restrictions on Transfer of Shares. Each Award granted shall provide
that, unless the Shares issued pursuant thereunder have been registered under
the Exchange Act, neither the Shares nor any interest in them may be sold,
assigned, pledged, hypothecated, encumbered or in any other manner transferred
or disposed of, in whole or in part, except in compliance with the terms,
conditions and restrictions

<PAGE>

                                      -22-

as set forth in the shareholders agreement dated as of June 1, 1994, as amended
(the "Shareholders Agreement"), applicable United States federal and state
securities laws or any other applicable laws or regulations and the terms and
conditions hereof. Each certificate for Shares issued pursuant to an Award,
unless at the time of issuance such Shares are registered under the Securities
Act, shall bear the legend set forth in the Shareholders Agreement or such other
legend as the Company deems appropriate. Any Person receiving Shares upon the
grant or exercise of an Award shall as a condition to such grant or exercise
become a party to the Shareholders Agreement.

     8.  General Provisions.

     (a) Compliance with Legal and Trading Requirements. The Plan, the granting
and exercising of Awards thereunder, and the other obligations of the Company
under the Plan and any Award Agreement, shall be subject to all applicable U.S.
federal and state laws, rules and regulations, and to such approvals by any
regulatory or governmental agency as may be required. The Company, in its
discretion, may postpone the issuance or delivery of Shares under any Award
until completion of such stock exchange or market system listing or registration
or qualification of such Shares or other required action under any U.S. state or
federal law, rule or regulation as the Company may consider appropriate, and may
require any Participant to make such representations and furnish such
information as it may consider appropriate in connection with the issuance or
delivery of Shares in

<PAGE>

                                      -23-

compliance with applicable laws, rules and regulations. No provisions of the
Plan shall be interpreted or construed to obligate the Company to register any
Shares under U.S. federal or state law.

     (b) No Right to Continued Employment or Service. Neither the Plan nor any
action taken thereunder shall be construed as giving any employee or director
the right to be retained in the employ or service of the Company or any of its
Subsidiaries or Affiliates, nor shall it interfere in any way with the right of
the Company or any of its Subsidiaries or Affiliates to terminate any employee's
or director's employment or service at any time.

     (c) Taxes. The Company or any Subsidiary or Affiliate is authorized to
withhold from any Award granted, any payment relating to an Award granted under
the Plan (including from a distribution of Shares) or any payroll or other
payment to an Eligible Employee, such amounts of withholding and other taxes as
are due in connection with any transaction involving an Award, and to take such
other action as the Committee may deem advisable to enable the Company and
Eligible Employees to satisfy obligations for the payment of withholding taxes
and other tax obligations relating co any Award. This authority shall include
authority to withhold or receive Shares or other property and to make cash
payments in respect thereof in satisfaction of an Eligible Employee's tax
obligations.

<PAGE>

                                      -24-

               (d) Changes to the Plan and Awards. The Board may amend, alter,
           suspend, discontinue, or terminate the Plan or the Committee's
           authority to grant Awards under the Plan without the consent of
           shareholders of the Company or Participants, except that any such
           amendment, alteration, suspension, discontinuation, or termination
           shall be subject to the approval of the Company's shareholders within
           one year after such Board action if such shareholder approval is
           required by any U.S. federal law or regulation (including Rule 16b-3,
           if applicable) or the rules of any stock exchange or automated
           quotation system on which the Shares may then be listed or quoted;
           provided, however, that, without the consent of an affected
           Participant, no amendment, alteration, suspension, discontinuation,
           or termination of the Plan may impair the rights or, in any other
           manner, adversely affect the rights of such Participant under any
           Award theretofore granted to him or her. The Committee may waive any
           conditions or rights under, or amend, alter, suspend, discontinue, or
           terminate any Award theretofore granted and any Award Agreement
           relating thereto; provided, however, that, without the consent of an
           affected Eligible Employee, no such amendment, alteration,
           suspension, discontinuation, or termination of any Award may impair
           or adversely affect the rights of such Eligible Employee under such
           Award.

               (e) No Rights to Awards; No Shareholder Rights. No Eligible
          Employee or employee shall have any claim to be granted any Award
          under the Plan, and there is no obligation for uniformity of treatment
          of Eligible Employees and employees. No

<PAGE>

                                      -25-

          Award shall confer on any Eligible Employee any of the rights of a
          shareholder of the Company unless and until Shares are duly issued or
          transferred to the Eligible Employee in accordance with the terms of
          the Award.

               (f) Unfunded Status of Awards. The Plan is intended to constitute
          an "unfunded" plan for incentive compensation. With respect to any
          payments not yet made to a Participant pursuant to an Award, nothing
          contained in the Plan or any Award shall give any such Participant any
          rights that are greater than those of a general creditor of the
          Company; provided, however, that the Committee may authorize the
          creation of trusts or make other arrangements to meet the Company's
          obligations under the Plan to deliver cash, Shares, other Awards, or
          other property pursuant to any Award, which trusts or other
          arrangements shall be consistent with the "unfunded" status of the
          Plan unless the Committee otherwise determines with the consent of
          each affected Participant.

               (g) Nonexclusivity of the Plan. Neither the adoption of the Plan
          by the Board nor its submission to the shareholders of the Company for
          approval shall be construed as creating any limitations on the power
          of the Board to adopt such other incentive arrangements as it may deem
          desirable, including, without limitation, the granting of options and
          other awards otherwise than under the Plan, and such arrangements may
          be either applicable generally or only in specific cases.

<PAGE>

                                      -26-

               (h) No Compensation for Benefit Plans. No Award payable under
          this Plan shall be deemed salary or compensation for the purpose of
          computing benefits under any benefit plan or other arrangement of the
          Company for the benefit of its employees or directors unless the
          Company shall determine otherwise.

               (i) No Fractional Shares, No fractional Shares shall be issued or
          delivered pursuant to the Plan or any Award. In the case of Awards to
          Eligible Employees, the Committee shall determine whether cash, other
          Awards, or other property shall be issued or paid in lieu of such
          fractional Shares or whether such fractional Shares or any rights
          thereto shall be forfeited or otherwise eliminated.

               (j) Governing Law. The validity, construction, and effect of the
          Plan, any rules and regulations relating to the Plan, and any Award
          Agreement shall be determined in accordance with the laws of New York
          without giving effect to principles of conflict of laws.

               (k) Effective Date; Plan Termination. The Plan shall become
          effective as of April 1, 1995, (the "Effective Date") upon approval by
          the Board. The Plan shall terminate as to future awards on the date
          which is ten (10) years after the Effective Date, or, if earlier, at
          such time as no Shares remain available for issuance pursuant to
          Section 4 and the Company has no further obligations with respect to
          any Award granted under the Plan.<PAGE>

                                   MIDAS, INC.

                               TREASURY STOCK PLAN

                            (as adopted May 9, 2002)

1.       Definitions
         -----------

         The following definitions shall be applicable throughout this Plan:

         (a) "Code"  shall mean the Internal  Revenue Code of 1986,  as the same
may be amended  from time to time.  Reference  in the Plan to any section of the
Code shall be deemed to include any  amendments  or successor  provision to such
section and any regulations under such section.

         (b)  "Committee"  shall  mean the  Committee  selected  by the Board of
Directors as provided in Paragraph 4 consisting of two or more  members  of the
Board  of  Directors,  each of whom  shall be a "Non-Employee Director" within
the meaning of Rule 16b-3 under the Exchange Act.

         (c) "Common Stock" shall mean common stock of the Corporation, with par
value of $.001 per share.

         (d) "Corporation" shall mean Midas, Inc., a Delaware corporation.

         (e) "Exchange Act" shall mean the  Securities  Exchange Act of 1934, as
amended.

         (f) "Holder"  shall mean an individual  who has been granted an Option,
Restricted Stock Award or Performance Award.

         (g) "Independent Director" shall mean a director who is not then
currently employed by the Corporation or a parent or subsidiary of the
Corporation.

         (h) "Non-Qualified  Stock Option" means any Option other than an Option
intended to qualify as an incentive stock option under Section 422 of the Code.

         (i)  "Option"  shall  mean any  option  granted  under the Plan for the
purchase of Common Stock.

         (j)  "Performance   Award"  shall  mean  an  award  granted  under  the
Performance Award provisions of the Plan.

         (k) "Plan" shall mean the Corporation's Treasury Stock Plan, as amended
from time to time.

         (l)  "Restricted  Stock  Award"  shall  mean an award of  Common  Stock
granted under the Restricted Stock Award provisions of the Plan.

         (m) "Retirement"  shall mean cessation of active  employment or service
with the Corporation or a subsidiary  pursuant to the  Corporation's  retirement
policies and programs.

<PAGE>

         (n) "SAR"  shall  mean a stock  appreciation  right  which is issued in
tandem with, or by reference to, an Option, which entitles the Holder thereof to
receive,  upon exercise of such SAR and surrender for  cancellation  of all or a
portion of such Option,  shares of Common Stock,  cash or a combination  thereof
with an  aggregate  value  equal to the excess of the fair  market  value of one
share of Common Stock on the date of exercise over the purchase price  specified
in such SAR or, in the case of an SAR granted in tandem with Options, any Option
to which the SAR is related,  multiplied by the number of shares of Common Stock
subject to such SAR, or portion thereof, which is surrendered.

2.       Purpose
         -------

         It is the  purpose  of the Plan to  provide a means  through  which the
Corporation  may attract  able persons to enter its employ and the employ of its
subsidiaries, to serve as directors and to provide a means whereby those persons
upon whom the  responsibilities of the successful  administration and management
of the  Corporation  or its  subsidiaries  rest, and whose present and potential
contributions  to the  welfare of the  Corporation  or its  subsidiaries  are of
importance,  can acquire and maintain stock ownership.  Such persons should thus
have a greater than ordinary  concern for the welfare of the Corporation  and/or
its  subsidiaries  and would be expected to strengthen  and maintain a desire to
remain in the employ or service of the Corporation or its subsidiaries.  It is a
further  purpose of the Plan to provide such persons with  additional  incentive
and reward  opportunities  designed  to  enhance  the  profitable  growth of the
Corporation.  So that the maximum  incentive can be provided each participant in
the Plan by  granting  such  participant  an Option or award best suited to such
participant's circumstances,  the Plan provides for granting Non-Qualified Stock
Options (with or without SARs),  Restricted Stock Awards and Performance Awards,
or any combination of the foregoing.

3.       Duration of the Plan
         --------------------

         The Plan shall  remain in effect  until all Options  granted  under the
Plan have been exercised,  all restrictions imposed upon Restricted Stock Awards
have been eliminated and all Performance Awards have been satisfied.

4.       Administration
         --------------

         The  members  of the  Committee  shall  be  selected  by the  Board  of
Directors to administer the Plan. A majority of the Committee shall constitute a
quorum.  Subject to the express provisions of the Plan, the Committee shall have
authority,  in its  discretion,  to determine the individuals to receive Options
(with or without SARs), Restricted Stock Awards and Performance Awards, the time
or times when they  shall  receive  them,  the number of shares to be subject to
each Option and Restricted Stock Award and the value of each Performance  Award.
In making such  determinations  the Committee shall take into account the nature
of the  services  rendered by each  individual,  such  individual's  present and
potential  contribution to the Corporation's  success, and such other factors as
the Committee shall deem relevant.

         The Committee shall have such additional  powers as are delegated to it
by the other  provisions of the Plan and,  subject to the express  provisions of
the  Plan,  to  construe  the  respective  Option,  Restricted  Stock  Award and
Performance Award agreements and the Plan, to

                                       2

<PAGE>

prescribe,  amend and rescind rules and regulations  relating to the Plan and to
determine the terms, restrictions and provisions of the Option, Restricted Stock
Award and Performance  Award  agreements  (which need not be identical),  and to
make all other determinations necessary or advisable for administering the Plan.
The Committee may, in its sole  discretion and for any reason at any time,  take
action such that (i) any or all outstanding  Options shall become exercisable in
part  or in  full,  (ii)  all or  some  of the  restrictions  applicable  to any
outstanding Restricted Stock Award shall lapse and (iii) all or a portion of any
outstanding Performance Award shall be satisfied.  The Committee may correct any
defect or supply any omission or reconcile any  inconsistency  in the Plan or in
any Option,  Restricted Stock Award or Performance Award agreement in the manner
and to the extent it shall deem expedient to carry it into effect,  and it shall
be the sole  and  final  judge of such  expediency.  The  determinations  of the
Committee on matters referred to in this Paragraph 4 shall be conclusive.

         The Committee  shall act by majority  action at a meeting,  except that
action  permitted  to be taken at a meeting  may be taken  without a meeting  if
written consent thereto is given by all members of the Committee.

5.   Grants of Options,  Restricted Stock Awards and Performance Awards;  Shares
     ---------------------------------------------------------------------------
     Subject to the Plan
     -------------------

         The  Committee  may from time to time  grant  Options  (with or without
SARs),  Restricted  Stock Awards and Performance Awards to one or more officers,
key  employees  or directors (other than Independent Directors) determined by it
to  be eligible for participation in accordance with the provisions of Paragraph
6   and  providing for the issuance of such number of shares and, in the case of
Performance  Awards, having such value as in the discretion of the Committee may
be fitting and proper. All Options granted under the Plan shall be Non-Qualified
Stock  Options. Subject to Paragraph 10,  not more than 400,000 shares of Common
Stock  may  be issued upon exercise of Options or SARs or pursuant to Restricted
Stock  Awards  or  Performance Awards granted under the Plan. Performance Awards
which  may  be  exercised  or  paid  only in cash shall not affect the number of
shares of Common Stock  available  for  issuance  under the Plan.

         All Common  Stock to be offered  under the Plan  pursuant  to  Options,
SARs,  Restricted  Stock Awards and  Performance  Awards must consist  solely of
Common  Stock   previously   issued  and   outstanding  and  reacquired  by  the
Corporation.

         The number of shares of Common Stock  available for issuance  under the
Plan  shall be reduced  by the sum of the  aggregate  number of shares of Common
Stock  then  subject  to  outstanding  Options,   Restricted  Stock  Awards  and
outstanding  Performance  Awards  which  may be paid  solely in shares of Common
Stock or in either  shares of Common  Stock or cash.  To the  extent (i) that an
outstanding Option expires or terminates unexercised or is canceled or forfeited
(other than in  connection  with the  exercise of an SAR for Common Stock as set
forth  in the  immediately  following  sentence)  or (ii)  that  an  outstanding
Restricted Stock Award or outstanding Performance Award which may be paid solely
in shares of Common Stock or in either shares of Common Stock or cash expires or
terminates without vesting or is canceled or forfeited or (iii) shares of Common
Stock are withheld or delivered  pursuant to the provisions on Share Withholding
set  forth in Paragraph 11(A), then the shares of Common  Stock  subject to such
expired,  terminated, unexercised, canceled or forfeited portion of such Option,
Restricted

                                       3

<PAGE>

Stock Award or Performance  Award,  or the shares of Common Stock so withheld or
delivered,  shall again be available  for issuance  under the Plan. In the event
all or a portion of an SAR is  exercised,  the number of shares of Common  Stock
subject to the related Option (or portion  thereof) shall again be available for
issuance  under the Plan,  except to the extent that shares of Common Stock were
actually issued upon exercise of the SAR.

6.       Eligibility
         -----------

         Options, Restricted Stock Awards and Performance Awards may be  granted
only to  persons who, at the time of the grant or award, are officers, other key
employees or directors (other than Independent Directors, which  directors   are
not eligible to receive grants under this Plan) of, or certain other persons who
provide  services  to,  the  Corporation  or  any  of  its  present  and  future
subsidiaries within the  meaning  of  Section 424(f) of  the Code (herein called
subsidiaries).    Options, Restricted Stock Awards or Performance Awards, or any
combination thereof,  may  be  granted  on  more  than  one occasion to the same
person. A person who has received or is eligible to receive options  to purchase
stock  of  any  subsidiary  of  the  Corporation  or  incentive  awards from any
subsidiary of the Corporation will not, by  reason  thereof,  be  ineligible  to
receive  Options, Restricted  Stock  Awards or Performance Awards under the Plan
unless prohibited by the plan of such subsidiary.

         Nothing  in  the  Plan  or  any  Option,   Restricted  Stock  Award  or
Performance  Award  agreement shall be construed to constitute or be evidence of
an  agreement  or  understanding,  expressed  or  implied,  on the  part  of the
Corporation or its  subsidiaries to employ any person for any specific period of
time.

7.       Options and SARs
         ----------------

         (A) Number of Shares.  The  Committee  may,  in its  discretion,  grant
             ----------------
Options to such  eligible  persons as may be  selected  by the  Committee.  With
respect to each  Option,  the  Committee  shall  determine  the number of shares
subject to the Option and the manner and the time of  exercise  of such  Option.
The  Committee  shall make such  other  determinations  which in its  discretion
appear to be fitting and proper.

         (B) Stock Option  Agreement.  Each Option shall be evidenced by a stock
             -----------------------
option agreement in such form containing such provisions not  inconsistent  with
the provisions of the Plan as the Committee from time to time shall approve.

         (C) Option Price and Term of Option.  The  purchase  price per share of
             -------------------------------
the Common  Stock  under each  Option and period  during  which an Option may be
exercised shall be determined by the Committee.

         The  Committee   shall   determine   whether  an  Option  shall  become
exercisable in cumulative or non-cumulative  installments and in part or in full
at any time. An exercisable  Option,  or portion thereof,  may be exercised only
with respect to whole shares of Common Stock.

         (D) Payment. An Option may be exercised by giving written notice to the
             -------
Corporation  specifying the number of shares of Common Stock to be purchased and
accompanied  by payment of the purchase price in full (or  arrangement  made for
such payment to

                                       4

<PAGE>

the Corporation's  satisfaction).  As determined by the Committee at the time of
grant of an Option and set forth in the  agreement  evidencing  the Option,  the
purchase  price  may be paid  (i) in cash or  (ii) by  delivery  (either  actual
delivery  or by  attestation  procedures  established  by  the  Corporation)  of
previously-owned  whole  shares of Common  Stock  (for which the holder has good
title, free and clear of all liens and encumbrances and which such holder either
(i) has held for at least six months or (ii) has  purchased  on the open market)
valued at their fair market  value on the date of  exercise.  If  applicable,  a
person  exercising an Option shall  surrender to the  Corporation any SARs which
are canceled by reason of the exercise of such Option.

         (E)  Termination  of Employment  or Service or Death of Holder.  In the
              ---------------------------------------------------------
event of any  termination  of the  employment  or service  of a Holder  with the
Corporation  or one of its  subsidiaries,  other  than by  reason  of  death  or
Retirement,  the Holder may (unless otherwise  provided in the Option agreement)
exercise each Option held by such Holder at any time within three months (or one
year if the Holder is  permanently  and totally  disabled  within the meaning of
Section  22(e)(3) of the Code) after such  termination of employment or service,
but only if and to the extent  such  Option is  exercisable  at the date of such
termination  of employment  or service,  and in no event after the date on which
such  Option  would  otherwise  terminate;   provided,  however,  that  if  such
termination  of  employment  or service is for cause or voluntary on the part of
the Holder without the written  consent of the  Corporation,  any Option held by
such Holder  under the Plan shall  terminate  unless  otherwise  provided in the
Option agreement.

         In the event of the termination of employment or service of a Holder by
reason  of  Retirement,  then  each  Option  held by the  Holder  shall be fully
exercisable,  and,  subject to the  following  paragraph,  such Option  shall be
exercisable  by the Holder at any time up to and  including  (but not after) the
date on which the Option would otherwise terminate (unless otherwise provided in
the Option Agreement).

         In the  event  of the  death  of a  Holder  (i)  while  employed  by or
providing  service  to the  Corporation  or one of  its  subsidiaries  or  after
Retirement,   (ii)  within  three  months  after  termination  of  the  Holder's
employment, other than a termination by reason of permanent and total disability
within the  meaning of Section  22(e)(3) of the Code,  or (iii)  within one year
after termination of the Holder's employment by reason of such disability,  then
each Option held by such Holder may be  exercised  by the legatees of the Holder
under his last will, or by his personal representatives or distributees,  at any
time within a period of nine months after the Holder's death, but only if and to
the extent such Option is  exercisable at the date of death (unless death occurs
while the Holder is employed by or providing  service to the  Corporation or one
of its subsidiaries, in which case each Option held by the Holder shall be fully
exercisable),  and in no  event  after  the  date on  which  such  Option  would
otherwise terminate.

         (F)  Privileges  of the  Holder as  Shareholder.  The  Holder  shall be
              ------------------------------------------
entitled to all the privileges and rights of a shareholder  with respect only to
such shares of Common Stock as have been actually purchased under the Option and
registered in the Holder's name.

         (G) SARs.  The  Committee  may,  in its sole  discretion,  grant an SAR
             ----
(concurrently  with or  subsequent  to the grant of the Option) to any Holder of
any  Option  granted  under  the  Plan  (or  such  Holder's  legatees,  personal
representatives  or distributees then entitled to exercise such Option).  An SAR
may be exercised (G) by giving written notice to the Corporation

                                       5

<PAGE>

specifying the number of SARs which are being  exercised and (i) by surrendering
to the  Corporation  any Options which are canceled by reason of the exercise of
the SAR. An SAR shall be exercisable  upon such additional  terms and conditions
as may from time to time be prescribed  by the  Committee.  No fractional  share
shall be issued upon the exercise of any SAR.

         (H)  Non-Transferability.  Unless otherwise  specified in the agreement
              -------------------
evidencing  an Option or SAR, no Option or SAR hereunder  shall be  transferable
other than (i) by will or the laws of descent and distribution; (ii) pursuant to
beneficiary  designation  procedures  approved  by  the  Corporation;  (iii) the
spouse,  children  or  grandchildren of the Holder ("Immediate Family Members");
(iv)  a  trust or trusts  for  the  exclusive benefit  of  such Immediate Family
Members;  or  (v)  a  partnership in which such Immediate Family Members are the
only  partners,  provided that, in the case of (iii)-(v) above, (x) there  is no
consideration  for any such transfer and (y) subsequent transfers of transferred
Options  shall  be  prohibited  except transfers to those persons or entities to
which  the  Holder  could  have  transferred an Option or transfers otherwise in
accordance  with such Option. Following transfer, an Option shall continue to be
subject to the same terms and conditions as were applicable immediately prior to
transfer,  except  that  the  term  "Holder,"  for the purposes of any permitted
exercise  of  an  Option,  shall  be  deemed  to  refer  to  the transferee. The
Corporation  disclaims  any  obligation  to  provide  notice  to a transferee of
circumstances  (including,  without limitation, termination of employment) which
may  result  in  early  termination of an Option. Except to the extent permitted
by  the  foregoing  sentence,  each  Option  or  SAR may be exercised during the
Holder's  lifetime  only  by  the Holder or the Holder's legal representative or
similar person. Except as permitted by the preceding sentences, no Option or SAR
hereunder   shall   be   sold,  transferred,  assigned,  pledged,  hypothecated,
encumbered  or  otherwise disposed of (whether by operation of law or otherwise)
or  be subject to execution, attachment or similar process. Upon  any attempt to
so sell, transfer, assign, pledge, hypothecate, encumber or otherwise dispose of
any  Option or SAR hereunder, such Option or SAR and all rights thereunder shall
immediately become null and void.

8.       Restricted Stock Awards
         -----------------------

         (A) Restriction Period to Be Established by the Committee.  At the time
             -----------------------------------------------------
of the making of a  Restricted  Stock Award,  the  Committee  shall  establish a
period  of  time  (the  "Restriction  Period")  applicable  to such  award.  The
Committee may establish different Restriction Periods from time to time and each
Restricted  Stock  Award  may  have  a  different  Restriction  Period,  in  the
discretion of the Committee.

         (B) Other Terms and Conditions.  Common Stock, when awarded pursuant to
             --------------------------
a  Restricted  Stock  Award,  shall be  represented  by a stock  certificate  or
book-entry  credits  registered  in the  name of the  Holder  who  receives  the
Restricted  Stock Award or a nominee  for the benefit of the Holder.  The Holder
shall  have the right to  receive  dividends  (or the cash  equivalent  thereof)
during the Restriction  Period and shall also have the right to vote such Common
Stock and all other shareholder's rights (in each case unless otherwise provided
in the agreement evidencing the Restricted Stock Award), with the exception that
(i) the Holder  shall not be entitled to delivery of the stock  certificate  (or
the removal of  restrictions in the  Corporation's  books and records) until the
Restriction  Period  established  by  the  Committee  pursuant to Paragraph 8(A)
shall  have  expired, (ii)  the  Corporation  shall  retain custody of the stock
certificate  during  the  Restriction  Period, (iii) the  Holder  may  not sell,
transfer,  pledge, exchange,  hypothecate or dispose of such Common Stock during
the Restriction  Period, and (iv) a breach of restriction or breach of terms and
conditions  established  by the Committee pursuant to the Restricted Stock Award
shall  cause  a  forfeiture  of  the Restricted Stock Award. If requested by the
Corporation,  a  Holder  of  a  Restricted  Stock  Award  shall deposit with the
Corporation stock powers or other  instruments of assignment  (including a power
of  attorney),  each  endorsed in blank with a guarantee  of signature if deemed
necessary  or appropriate by the Corporation, which would permit transfer to the
Corporation  of all or a portion  of the shares of Common  Stock  subject to the
Restricted Stock Award in the event such award is forfeited in whole or in part.
A distribution with respect to shares of Common Stock, other than a distribution
in cash, shall be subject to the same restrictions as the shares of Common Stock
with respect to which such distribution was made, unless otherwise determined by
the Committee.

                                       6

<PAGE>

The Committee may, in addition, prescribe additional restrictions, terms or
conditions upon or to the Restricted Stock Award in the manner prescribed by
Paragraph 4. The Committee may, in its sole discretion, also establish rules
pertaining to the Restricted Stock Award in the event of termination of
employment or service (by Retirement, disability, death or otherwise) of a
Holder of such award prior to the expiration of the Restriction Period.

     (C) Restricted Stock Award Agreement. Each Restricted Stock Award shall
         --------------------------------
be evidenced by an agreement in such form and containing such provisions not
inconsistent with the provisions of the Plan as the Committee from time to time
shall approve.

     (D) Payment for Restricted Stock. Restricted Stock Awards may be made
         -----------------------------
by the Committee whereby the Holder receives Common Stock subject to those
terms, conditions and restrictions established by the Committee but is not
required to make any payment for said Common Stock. The Committee may also
establish terms as to each Holder whereby such Holder, as a condition to the
Restricted Stock Award, is required to pay, in cash or other consideration, all
(or any lesser amount than all) of the fair market value of the Common Stock,
determined as of the date the Restricted Stock Award is made.

     (E) Termination of Employment or Service or Death of Holder. A Restricted
         -------------------------------------------------------
Stock Award shall terminate for all purposes if the Holder does not remain
continuously in the employ or service of the Corporation or a subsidiary at all
times during the applicable Restriction Period, except as may otherwise be
determined by the Committee.

9.   Performance Awards
     ------------------

     (A) Performance Period. The Committee shall establish with respect to
         -------------------
each Performance Award a performance period over which the performance of the
Holder shall be measured. The performance period shall be established at the
time of such award.

     (B) Performance Awards. Each Performance Award shall have a maximum
         -------------------
value established by the Committee at the time of such award.

     (C) Performance Measures. Performance Awards shall be awarded to an
         ---------------------
eligible person contingent upon future performance of the Corporation and/or the
Corporation's subsidiary, division or department in which such person is
employed over the performance period. The Committee shall establish the
performance measures applicable to such performance.

     (D) Award Criteria. In determining the value of Performance Awards, the
          --------------
Committee shall take into account an eligible person's responsibility level,
performance, potential, cash compensation level, unexercised stock options,
other incentive awards and such other considerations as it deems appropriate.

     (E) Payment. Following the end of each performance period, the Holder
          -------
of each Performance Award shall be entitled to receive payment of an
amount, not exceeding the maximum value of the Performance Award, based on the
achievement of the performance measures for such performance period, as
determined by the Committee. Payment of Performance Awards may be made wholly in
cash, wholly in shares of Common Stock or a

                                       7

<PAGE>

combination  thereof,  all at the discretion of the Committee.  Payment shall be
made in a lump sum or in installments,  and shall be subject to such vesting and
other  terms and  conditions  as may be  prescribed  by the  Committee  for such
purpose.

         (F)  Termination  of  Employment  or  Service  or  Death of  Holder.  A
              --------------------------------------------------------------
Performance Award shall terminate for all purposes if the Holder does not remain
continuously  in the employ or service of the Corporation or a subsidiary at all
times  during the  applicable  performance  period,  except as may  otherwise be
determined by the Committee.

         In the  event  that a Holder  of a  Performance  Award  ceases to be an
employee or  director of the  Corporation  following  the end of the  applicable
performance  period  but  prior to full  payment  according  to the terms of the
Performance Award, payment shall be made in accordance with terms established by
the Committee for the payment of such Performance Award.

         (G) Other Terms and Conditions.  When a Performance Award is payable in
             --------------------------
installments in Common Stock, if determined by the Committee,  one or more stock
certificates  or  book-entry  credits  registered  in the  name  of  the  Holder
representing shares of Common Stock which would have been issuable to the Holder
of the  Performance  Award  if such  payment  had  been  made in full on the day
following the end of the applicable  performance period may be registered in the
name of such Holder,  and during the period until such  installment  becomes due
such Holder shall have the right to receive  dividends  (or the cash  equivalent
thereof)  and shall also have the right to vote such Common  Stock and all other
shareholder's  rights (in each case unless  otherwise  provided in the agreement
evidencing the Performance  Award), with the exception that (i) the Holder shall
not be  entitled  to delivery  of any stock  certificate  until the  installment
payable in shares becomes due, (ii) the Corporation  shall retain custody of any
stock certificates until such time and (iii) the Holder may not sell,  transfer,
pledge, exchange, hypothecate or dispose of such Common Stock until such time. A
distribution  with  respect to shares of Common  Stock  payable in  installments
which has not become due, other than a distribution in cash, shall be subject to
the same  restrictions  as the shares of Common Stock with respect to which such
distribution was made, unless otherwise determined by the Committee.

         (H)  Performance  Award  Agreements.  Each  Performance  Award shall be
              ------------------------------
evidenced  by an  agreement  in such form and  containing  such  provisions  not
inconsistent  with the provisions of the Plan as the Committee from time to time
shall approve.

10.      Adjustments Upon Changes in Capitalization; Change in Control
         -------------------------------------------------------------

         (A)  Notwithstanding  any other  provision  of the Plan,  each  Option,
Restricted  Stock  Award  or  Performance   Award  agreement  may  contain  such
provisions as the Committee shall determine to be appropriate for the adjustment
of (i) the  number  and class of shares or other  consideration  subject  to any
Option or to be delivered  pursuant to any Restricted Stock Award or Performance
Award and (ii) the Option or  Restricted  Stock Award  price,  in the event of a
stock dividend, spin-off,  split-up,  recapitalization,  merger,  consolidation,
combination  or exchange  of shares,  or the like.  In such  event,  the maximum
number and class of shares available under the Plan, and the number and class of
shares subject to Options,  SARs, Restricted Stock Awards or Performance Awards,
shall be appropriately  adjusted by the Committee,  whose determination shall be
conclusive.

                                       8

<PAGE>

     (B) (i) In the event of a "change in control" (as hereinafter defined)
pursuant to subparagraph (C) or (ii) below, or in the event of a change in
control pursuant to subparagraph (C)(iii) or (iv) below in connection with which
the holders of Common Stock receive consideration other than shares of common
stock that are registered under Section 12 of the Exchange Act:

          (1) (x) each Option granted under the Plan shall be exercisable in
     full, (y) each Holder of an Option shall receive from the Corporation
     within 60 days after the change in control, in exchange for the surrender
     of the Option or any portion thereof to the extent the Option is then
     exercisable in accordance with clause (x), an amount in cash equal to the
     difference between the fair market value (as determined by the Committee)
     on the date of the change in control of the Common Stock covered by the
     Option or portion thereof which is so surrendered and the purchase price of
     such Common Stock under the Option and (z) each SAR shall be surrendered by
     the Holder thereof and shall be canceled simultaneously with the
     cancellation of the related Option;

          (2) each Holder of a Restricted Stock Award shall receive from the
     Corporation within 60 days after the change in control, in exchange for the
     surrender of the Restricted Stock Award, an amount in cash equal to the
     fair market value (as determined by the Committee) on the date of the
     change in control of the Common Stock subject to the Restricted Stock
     Award;

          (3) each Holder of a Performance Award for which the performance
     period has not expired shall receive from the Corporation within 60 days
     after the change in control, in exchange for the surrender of the
     Performance Award, an amount in cash equal to the product of the value of
     the Performance Award and a fraction the numerator of which is the number
     of whole months which have elapsed from the beginning of the performance
     period to the date of the change in control and the denominator of which is
     the number of whole months in the performance period; and

          (4) each Holder of a Performance Award that has been earned but not
     yet paid shall receive an amount in cash equal to the value of the
     Performance Award.

     (ii) Notwithstanding any other provision of the Plan or any agreement
relating to an Option, Restricted Stock Award or Performance Award, in the event
of a change in control pursuant to subparagraph (C)(iii) or (iv) in connection
with which the holders of Common Stock receive shares of common stock that are
registered under Section 12 of the Exchange Act:

          (1) each Option and SAR granted under the Plan shall be exercisable in
     full;

          (2) the Restriction Period applicable to any outstanding Restricted
     Stock Award shall lapse and, if applicable, any other restrictions, terms
     or conditions shall lapse and/or be deemed to be satisfied at the maximum
     value or level;

          (3) the performance measures applicable to any outstanding Performance
     Award shall be deemed to be satisfied at the maximum value; and

                                       9

<PAGE>

                  (4) there shall be substituted  for each share of Common Stock
         remaining  available for issuance  under the Plan,  whether or not then
         subject to an outstanding  Option (and SAR),  Restricted Stock Award or
         Performance  Award,  the  number  and class of shares  into  which each
         outstanding  share of Common Stock shall be converted  pursuant to such
         Change in Control. In the event of any such substitution,  the purchase
         price  per  share  in the  case of an  Option  shall  be  appropriately
         adjusted by the Committee  (whose  determination  shall be conclusive),
         such  adjustments  to be made  without any  increase  in the  aggregate
         purchase price.

         (C) For purposes of this paragraph,  the term "change in control" shall
mean:

                  (i) the  acquisition  by any  individual,  entity  or group (a
"Person"),  including  any  "person"  within the meaning of Section  13(d)(3) or
14(d)(2) of the Exchange Act, of beneficial ownership within the meaning of Rule
13d-3  promulgated under the Exchange Act, of 25% or more of either (x) the then
outstanding  shares of common stock of the Corporation (the "Outstanding  Common
Stock") or (y) the combined voting power of the then  outstanding  securities of
the  Corporation  entitled to vote  generally in the election of directors  (the
"Outstanding Voting Securities");  excluding,  however,  the following:  (1) any
acquisition directly from the Corporation  (excluding any acquisition  resulting
from the exercise of an exercise,  conversion or exchange  privilege  unless the
security being so exercised,  converted or exchanged was acquired  directly from
the Corporation), (2) any acquisition by the Corporation, (3) any acquisition by
an employee  benefit  plan (or related  trust)  sponsored or  maintained  by the
Corporation  or any  corporation  controlled  by  the  Corporation  or  (4)  any
acquisition  by any  corporation  pursuant to a transaction  which complies with
clauses  (1),  (2) and (3) of  clause  (iii) in this  definition  of  change  in
control;

                  (ii)  individuals  who, as of the effective  date of the Plan,
constitute the Board of Directors of the  Corporation  (the  "Incumbent  Board")
cease for any reason to constitute at least a majority of such Board;  provided,
however,  that  any  individual  who  becomes  a  director  of  the  Corporation
subsequent to such effective date whose election,  or nomination for election by
the Corporation's shareholders,  was approved by the vote of at least a majority
of the directors then comprising the Incumbent Board shall be deemed a member of
the Incumbent Board; and provided further, that any individual who was initially
elected as a director of the  Corporation as a result of an actual or threatened
election  contest,  as such  terms  are used in Rule  14a-11 of  Regulation  14A
promulgated   under  the  Exchange  Act,  or  any  other  actual  or  threatened
solicitation of proxies or consents by or on behalf of any Person other than the
Board of Directors shall not be deemed a member of the Incumbent Board;

                  (iii)  the  consummation  of  a   reorganization,   merger  or
consolidation  of  the  Corporation  or  sale  or  other  disposition  of all or
substantially all of the assets of the Corporation (a "Corporate  Transaction");
excluding,  however,  a  Corporate  Transaction  pursuant  to which (iii) all or
substantially all of the individuals or entities who are the beneficial  owners,
respectively,  of the  Outstanding  Common  Stock  and  the  Outstanding  Voting
Securities  immediately  prior to such Corporate  Transaction will  beneficially
own, directly or indirectly, more than 66-2/3% of, respectively, the outstanding
shares  of  common  stock,  and the  combined  voting  power of the  outstanding
securities  of such  corporation  entitled to vote  generally in the election of
directors,  as the case may be, of the corporation resulting from such Corporate
Transaction (including,

                                       10

<PAGE>

     without limitation, a corporation which as a result of such transaction
     owns the Corporation or all or substantially all of the Corporation's
     assets either directly or indirectly) in substantially the same proportions
     relative to each other as their ownership, immediately prior to such
     Corporate Transaction, of the Outstanding Common Stock and the Outstanding
     Voting Securities, as the case may be, (1) no Person (other than: the
     Corporation; any employee benefit plan (or related trust) sponsored or
     maintained by the Corporation or any corporation controlled by the
     Corporation; the corporation resulting from such Corporate Transaction; and
     any Person which beneficially owned, immediately prior to such Corporate
     Transaction, directly or indirectly, 25% or more of the Outstanding Common
     Stock or the Outstanding Voting Securities, as the case may be) will
     beneficially own, directly or indirectly, 25% or more of, respectively, the
     outstanding shares of common stock of the corporation resulting from such
     Corporate Transaction or the combined voting power of the outstanding
     securities of such corporation entitled to vote generally in the election
     of directors and (2) individuals who were members of the Incumbent Board
     will constitute at least a majority of the members of the board of
     directors of the corporation resulting from such Corporate Transaction; or

          (iv) the consummation of a plan of complete liquidation or dissolution
     of the Corporation.

11.  Withholding Taxes
     -----------------

     (A) If provided in the agreement evidencing an Option, SAR, Restricted
Stock Award or Performance Award, the Holder thereof may elect, by written
notice to the Corporation at the office of the Corporation designated for that
purpose, to pay through withholding by the Corporation all or a portion of the
estimated federal, state, local and other taxes arising from (i) the exercise of
an Option or SAR and (ii) the vesting or distribution of shares of Common Stock
pursuant to a Restricted Stock Award or Performance Award (i) by having the
Corporation withhold shares of Common Stock or (ii) by delivering
previously-owned shares (collectively, "Share Withholding"), in each case being
such number of shares of Common Stock as shall have a fair market value equal to
the amount of taxes to be withheld, rounded up to the nearest whole share.

     (B) A Share Withholding election shall be subject to disapproval by the
Corporation.

     (C) If the date as of which the amount of tax to be withheld is determined
(the "Tax Date") is deferred until after the exercise of an Option or SAR, the
expiration of the Restriction Period applicable to a Restricted Stock Award or
the payment of a Performance Award, and if the Holder elects Share Withholding,
the Corporation shall issue to the Holder the full number of shares of Common
Stock, if any, resulting from such exercise, expiration or payment and the
Holder shall be unconditionally obligated to deliver to the Corporation on the
Tax Date such number of shares of Common Stock as shall have an aggregate fair
market value equal to the amount to be withheld on the Tax Date, rounded up to
the nearest whole share.

     (D) The fair market value of shares of Common Stock used for payment of
taxes, as provided in this Paragraph 11, shall be the mean sale price per share,
as reported for New York Stock Exchange Composite Transactions, on the Tax Date.

                                       11

<PAGE>

12.      Termination of Plan
         -------------------

         The  Plan may be  terminated  at any  time by the  Board of  Directors,
except with respect to any Options, SARs, Restricted Stock Awards or Performance
Awards then  outstanding.  The  Corporation  reserves the right to restrict,  in
whole or in part,  the exercise of any Options or SARs or the delivery of Common
Stock  pursuant to any  Restricted  Stock Awards or  Performance  Awards granted
under the Plan until such time as:

         (A)      any legal  requirements or regulations  have been met relating
                  to the  issuance  of the  shares  covered  thereby or to their
                  registration  under  the  Securities  Act  of  1933  or to any
                  applicable State laws; and

         (B)      satisfactory  assurances  are  received  that the shares  when
                  issued  will be duly  listed on the New York  Stock  Exchange,
                  Inc.

13.      Amendment of the Plan
         ---------------------

         The  Board of  Directors  may amend  the Plan at any time  without  the
approval of the Corporation's shareholders.

14.      Effect of the Plan
         ------------------

         Neither  the  adoption  of the  Plan  nor any  action  of the  Board of
Directors or of the Committee shall be deemed to give any person any right to be
granted  an  Option,  a right  to a  Restricted  Stock  Award  or a  right  to a
Performance  Award or any  rights  hereunder  except as may be  evidenced  by an
Option  agreement,   Restricted  Stock  Award  agreement  or  Performance  Award
agreement,  duly  executed  on behalf of the  Corporation,  and then only to the
extent and on the terms and conditions expressly set forth therein.

                                       12

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