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Exhibit 10(n)    
  

HAGGAR CLOTHING CO.  

 BONUS SAVINGS PLAN  

 Effective as of January 1, 1998  

Haggar Clothing Co.

Dallas, Texas  

 
HAGGAR CLOTHING CO.

BONUS SAVINGS PLAN  

 
 

TABLE OF CONTENTS    
  

	ARTICLE
 
	 	PAGE

	PREAMBLE	 	iii
	

ARTICLE I—TITLE AND EFFECTIVE DATE	
 	

1
	

 	
 	

Section 1.01	
 	

Title	
 	

1
	 	 	Section 1.02	 	Effective Date	 	1
	

ARTICLE II—DEFINITIONS AND CONSTRUCTION OF PLAN DOCUMENT	
 	

1
	

 	
 	

Section 2.01	
 	

Applicable Tax Rate	
 	

1
	 	 	Section 2.02	 	ASSOCIATE	 	1
	 	 	Section 2.03	 	Board of Directors	 	1
	 	 	Section 2.04	 	Committee	 	1
	 	 	Section 2.05	 	Company	 	1
	 	 	Section 2.06	 	Deferred Annuity or Annuities	 	1
	 	 	Section 2.07	 	Deducted Compensation	 	1
	 	 	Section 2.08	 	Election Date	 	1
	 	 	Section 2.09	 	Eligible ASSOCIATE	 	2
	 	 	Section 2.10	 	401(k) Plan	 	2
	 	 	Section 2.11	 	Payroll Deduction Agreement	 	2
	 	 	Section 2.12	 	Plan	 	2
	 	 	Section 2.13	 	Salary	 	2
	 	 	Section 2.14	 	Tax Distribution	 	2
	 	 	Section 2.15	 	Taxable Year	 	2
	 	 	Section 2.16	 	Titles	 	2
	 	 	Section 2.17	 	Gender and Number	 	2
	

ARTICLE III—ELIGIBILITY	
 	

2
	

 	
 	

Section 3.01	
 	

Eligibility	
 	

2
	 	 	Section 3.02	 	Participation	 	3
	

ARTICLE IV—PAYROLL DEDUCTION; DEFERRED ANNUITIES	
 	

3
	

 	
 	

Section 4.01	
 	

Deducted Compensation	
 	

3
	 	 	Section 4.02	 	Deferred Annuities	 	3
	 	 	Section 4.03	 	Revocation, Reduction or Increase of Deductions	 	4
	 	 	Section 4.04	 	Ownership	 	4
	 	 	Section 4.05	 	Company Acting as Agent Only	 	4
	

ARTICLE V—ACCOUNTING; TAX DISTRIBUTIONS	
 	

4
	

 	
 	

Section 5.01	
 	

Accounting	
 	

4
	 	 	Section 5.02	 	Tax Distribution	 	4
	

ARTICLE VI—ADMINISTRATION OF THE PLAN	
 	

5
	

 	
 	

Section 6.01	
 	

Administration	
 	

5
	 	 	Section 6.02	 	Expenses	 	5
	 	 	Section 6.03	 	Indemnification	 	5

i

 

	

ARTICLE VII—MISCELLANEOUS	
 	

5
	

 	
 	

Section 7.01	
 	

Written Notice	
 	

5
	 	 	Section 7.02	 	Change of Address	 	6
	 	 	Section 7.03	 	Merger, Consolidation or Acquisition	 	6
	 	 	Section 7.04	 	Amendment and Termination	 	6
	 	 	Section 7.05	 	Non-Assignability	 	6
	 	 	Section 7.06	 	Applicable Law	 	6
	

SIGNATURES	
 	

S-1
	

EXHIBIT "A"	
 	

A

ii

 
 
 

PREAMBLE    
  

        Effective December 1, 1990, Haggar Apparel Company (now Haggar Clothing Co.) approved and adopted the Haggar Apparel Company Bonus Savings Plan (the "Prior
Plan"). Effective January 1, 1998, Haggar Clothing Co. is adopting an amendment and restatement of the Prior Plan to now be known as the Haggar Clothing Co. Bonus Savings Plan. 

        The
purpose of the Haggar Clothing Co. Bonus Savings Plan is to permit eligible ASSOCIATES to direct current compensation which cannot be contributed to the Haggar Clothing Co. Profit
Sharing and Savings Plan [the "401(k) Plan"] into an individually owned annuity. 

        This
program is designed to provide payroll deduction opportunities because of the following limitations imposed on the 401(k) Plan by the Internal Revenue Code of 1986 ("Code"): 

	•
	The
Code sections 401, 402(g) and 415 limits restrict ASSOCIATE before-tax and after-tax contributions to the 401(k) Plan which
results in reduced benefits.

	•
	Effective
in 1989 and further in 1994 and thereafter, the Code section 401(a)(17) limits specify limitation on the maximum amount of ASSOCIATE
compensation that can be taken into account for determining qualified plan benefits. 

        It
is the intention of Haggar Clothing Co. to transfer eligible ASSOCIATE contributions to an insurance carrier(s) to pay premiums for deferred annuities owned by participating eligible
ASSOCIATES. Any and all investment decisions in connection with the deferred annuities (including investment in the underlying deferred annuity investment funds), are to be borne completely by each
participating eligible ASSOCIATE. 

iii

  

 
 

ARTICLE I—TITLE AND EFFECTIVE DATE    
  

        Section 1.01    Title.    This arrangement shall be known as the Haggar Clothing
Co.
Bonus Savings Plan (hereinafter referred to as the "Plan"). 

        Section 1.02    Effective Date.    The effective date of the Plan (as amended
and
restated) shall be January 1, 1998. 

 
 

ARTICLE II—DEFINITIONS AND CONSTRUCTION OF PLAN DOCUMENT    
  

        As used herein, the following words and phrases shall have the meanings specified below unless a different meaning is clearly required by the context: 

        Section 2.01    Applicable Tax Rate.    "Applicable Tax Rate" shall mean the
percentage
rate established prior to the beginning of each Taxable Year by the Board of Directors in its sole and absolute discretion. Following determination by the Board of Directors, such rate shall be
communicated to each Eligible ASSOCIATE. 

        Section 2.02    ASSOCIATE.    "ASSOCIATE" shall mean any person (including any
officer)
employed by the Company on a salaried or commissioned basis. 

        Section 2.03    Board of Directors.    "Board of Directors" shall mean the Board
of
Directors of the Company. 

        Section 2.04    Committee.    "Committee" means the Committee appointed by the
Board of
Directors as set forth in Article VI to administer the Plan. 

        Section 2.05    Company.    "Company" shall mean Haggar Clothing Co., its
successors,
any subsidiary or affiliated organizations authorized by the Board of Directors of Haggar Clothing Co. or the Committee to participate in the Plan with respect to certain of their ASSOCIATES, and any
organization into which or with which the Company may merge or consolidate or to which all or substantially all of its assets may be transferred. The subsidiaries or affiliated organizations
authorized or designated to participate in the Plan shall be listed and attached hereto as Exhibit A. 

        Section 2.06    Deferred Annuity or Annuities.    "Deferred Annuity or Deferred
Annuities" means fixed interest or variable interest annuity contract(s) with cash value purchased from an insurance carrier authorized to do business in the State of Texas. 

        Section 2.07    Deducted Compensation.    "Deducted Compensation" means the
portion of
an Eligible ASSOCIATE's Salary for any calendar year, or part thereof, that has been payroll deducted pursuant to Section 4.01 herein. 

        Section 2.08    Election Date.    "Election Date" shall be a prospective date
chosen by
the Eligible ASSOCIATE which shall coincide with the beginning of a payroll period and which is no more than 30 days after an Eligible ASSOCIATE executes a Payroll Deduction Agreement. 

        Section 2.09    Eligible ASSOCIATE.    "Eligible ASSOCIATE" means an ASSOCIATE
who is
eligible to participate in the Plan under Section 3.01 hereof and who has elected participation in the Plan. 

        Section 2.10    401(k) Plan.    "401(k) Plan shall mean the Haggar Clothing Co.
Profit
Sharing and Savings Plan. When so referred to, such plan shall be incorporated herein by reference. 

        Section 2.11    Payroll Deduction Agreement.    "Payroll Deduction Agreement"
means the
written form which is submitted to the Committee before the relevant Election Date which indicates whether the Eligible ASSOCIATE wishes to have a portion of his salary deducted and transferred to a
Deferred Annuity and indicates the portion of Salary to be deducted. 

1

 

        Section 2.12    Plan.    "Plan" means the Haggar Clothing Co. Bonus Savings Plan,
 as
described in this instrument, as amended from time to time. 

        Section 2.13    Salary.    "Salary" means for a "salaried" ASSOCIATE, such
individual's
base salary plus bonus base from the Company, For a "commissioned" ASSOCIATE, Salary means the individual's commission guarantee plus his earned bonus (Step 1), if met; provided, however, for a
commissioned ASSOCIATE Sales Manager, Salary shall mean actual sales bonus plus corporate bonus base. 

        In
order to ratably determine amounts to be deducted, the Committee reserves the right to prorate the ASSOCIATE's Salary over the portion of the Taxable Year such ASSOCIATE is an
Eligible ASSOCIATE and has executed a Payroll Deduction Agreement. 

        Section 2.14    Tax Distribution.    "Tax Distribution" means a cash payment by
the
Company to or on behalf of a participating Eligible ASSOCIATE (either directly or to satisfy income tax withholding requirements) to compensate him for certain federal income taxes attributable to the
Eligible ASSOCIATE's Deducted Compensation as set forth in Section 5.02 hereof. Such Tax Distribution may also represent an amount to pay all or part of the tax liability attributable to the
Tax Distribution itself. 

        Section 2.15    Taxable Year.    "Taxable Year" is the same as the calendar
year. 

        Section 2.16    Titles.    Titles of the Articles of the Plan are included for
ease of
reference only and are not to be used for the purpose of construing any portion or provision of the Plan document. 

        Section 2.17    Gender and Number.    Wherever the context so requires,
masculine
pronouns include the feminine and singular words shall include the plural. 

 
 

ARTICLE III—ELIGIBILITY    
  

        Section 3.01    Eligibility.    Eligibility under the Plan for any Taxable Year
may be
granted to those active full-time salaried or commissioned ASSOCIATES who are determined to be a "highly compensated employee" under Internal Revenue Code section 414(q) (which for
1999 are those ASSOCIATES who received $80,000 or more in compensation from the Company in the previous calendar year) and who are expected to earn $80,000 or more in compensation from the Company in
the current year for which he is eligible. In addition, all Eligible ASSOCIATES who were participating in the Plan as of January 1,
1998 shall continue to participate in the Plan regardless of their compensation, if approved by the Committee. The Committee will make and/or approve all determinations of eligibility each year in its
sole and absolute discretion and such eligibility may commence with the Eligible ASSOCIATE's employment date as approved by the Committee. In making the selection, the Committee shall give
consideration to the personal service contribution of the ASSOCIATE during the year; his income level (subject to the threshold dollar amount set forth above) and any limitations under other programs
sponsored by the Company due to such income level; his or her ability, efficiency and loyalty; the prospects of his or her being promoted to a more important position in the Company; and such other
matters as it shall deem desirable. 

        Nothing
in the Plan shall be construed as preventing the Company from establishing commission or other incentive compensation plans for ASSOCIATES of the Company and the eligibility of
ASSOCIATES covered by the Plan to participate in such other plans, or in existing Company plans, shall be determined by the Company's Board of Directors. 

        Eligibility
to participate in the Plan should not be interrupted or otherwise affected by an authorized leave of absence granted by the Company. 

        Section 3.02    Participation.    Participation in the Plan by an Eligible
ASSOCIATE is
completely voluntary. An Eligible ASSOCIATE who voluntarily elects to participate in the Plan shall, as a condition to payroll deducting portion of his Salary under the terms of the Plan, complete and
return 

2

 

to the Committee a duly executed Payroll Deduction Agreement. If the Eligible ASSOCIATE desires to make a single sum deposit as provided under Section 4.01, he shall contact a duly authorized
representative of the Committee for instructions. 

 
 

ARTICLE IV—PAYROLL DEDUCTION; DEFERRED ANNUITIES    
  

        Section 4.01    Deducted Compensation.    Each Eligible ASSOCIATE in the Plan
may have
a percentage or dollar amount of his Salary deducted up to a maximum percentage or dollar amount as established prior to the beginning of each Taxable Year by the Board of Directors in its sole and
absolute discretion. Such maximum percentage amount, if any, shall be communicated by the Committee to each Eligible Associate prior to the beginning of each Taxable Year. An Eligible ASSOCIATE
desiring to participate in the Plan must submit a written Payroll Deduction Agreement to the Committee prior to the Election Date. Payroll Deduction Agreements remain in effect until revoked or
modified by the filing of a new Payroll Deduction Agreement prior to the Election Date. Alternatively, an Eligible ASSOCIATE may make a single sum contribution to his Deferred Annuity in addition to,
or in lieu of executing a Payroll Deduction Agreement, provided such single sum amounts are contributed by
December 31 for the Taxable Year for which it is to apply. No contributions to the Plan shall be made by the Company. 

        Section 4.02    Deferred Annuities.    The Company shall transmit Deducted
Compensation
to one or more Deferred Annuity for each Eligible ASSOCIATE. Such contributions shall be paid over by the Company to the insurance carrier or other funding agent underwriting each Eligible ASSOCIATE's
Deferred Annuity as soon as reasonably practicable. Such Deferred Annuities shall be owned by the Eligible ASSOCIATE who shall have the sole and absolute right to select among alternative investments
offered under each Deferred Annuity. 

        Section 4.03    Revocation, Reduction or Increase of Deductions.    Future
deductions
of salary may be stopped, reduced, or increased at any time by filing a new Payroll Deduction Agreement. Such revocation, reduction, or increase will be effective as soon as it is administratively
possible for the Company to make such change. 

        Section 4.04    Ownership.    Each Eligible ASSOCIATE shall at all times be the
sole
and absolute owner of his Deferred Annuity. All rights under the Deferred Annuity are solely enforceable by the Eligible ASSOCIATE. Each Eligible ASSOCIATE has the right to make withdrawals and to
designate annuity payments in accordance with the terms of his Deferred Annuity contract. 

        Section 4.05    Company Acting as Agent Only.    Amounts available under the
Plan are
considered paid to the Eligible ASSOCIATE when such Eligible ASSOCIATE otherwise receives or is entitled to receive his Salary from the Company. The Company, acting in the capacity as agent for the
Eligible ASSOCIATE, agrees to transmit Deducted Compensation to the Deferred Annuity on behalf of each participating Eligible ASSOCIATE. Amounts available under the Deferred Annuity shall be payable
to each ASSOCIATE in the time(s) and form(s) prescribed under such Deferred Annuity and as requested by the Eligible ASSOCIATE. 

 
 

ARTICLE V—ACCOUNTING; TAX DISTRIBUTIONS    
  

        Section 5.01    Accounting.    Salary deducted under a written Payroll Deduction
Agreement shall be recorded for each participating Eligible ASSOCIATE until the close of each Taxable Year so that the appropriate Tax Distribution calculation can be made. 

        Section 5.02    Tax Distribution.    The Company may, as determined by the Board
of
Directors in its sole and absolute discretion, pay a Tax Distribution to each Eligible ASSOCIATE before April 15 of each year based on the "Net Contributions" (as defined herein) made by the
Eligible ASSOCIATE to 

3

 

his Deferred Annuity during the preceding Taxable Year. As a further condition to receipt of the Tax Distribution, the Eligible ASSOCIATE shall be required to be actively employed by the Company on
December 31(e.g., not on severance pay or any other extraordinary pay package) of the Taxable Year for which the Tax Distribution is to apply. Such Tax Distribution shall be computed by
multiplying the Applicable Tax Rate by the Eligible ASSOCIATE's Net Contributions for the applicable Taxable Year. "Net Contributions" shall mean the Eligible ASSOCIATE's Deducted Compensation for the
applicable Taxable Year, less the "maximum amount" that he could have contributed (regardless of whether or not such amount was actually contributed) as
a "salary reduction contribution" (as defined in the 401(k) Plan) to the 401(k) Plan, less any withdrawals from the Deferred Annuity during the year
under consideration and less any "carry forward withdrawals" from prior years. "Maximum amount" shall mean the following limit which produces the lowest dollar contribution amount: (i) the
average deferral percentage test under the 401(k) Plan for the current year, (ii) the $10,000 Code section 402(g) limit as adjusted for cost of living, and (iii) the 401(k) Plan's
elective deferral limit (10% for highly compensated employees in 1999). "Carry forward withdrawals" shall mean amounts withdrawn from the Plan in a prior Taxable Year which have not been subtracted
from Deducted Compensation during a prior Taxable Year. The effect of considering carry forward withdrawals is that unless the Eligible ASSOCIATE has first repaid any prior withdrawals (through
Deducted Compensation or otherwise), such individual shall not receive any Tax Distribution with respect to future Deducted Compensation. 

        Notwithstanding
the above, in considering whether any withdrawal (or carry forward withdrawal) has occurred under the Deferred Annuity during the year, amounts withdrawn as a direct
result of a legal divorce shall not be considered and shall not count as withdrawn amounts. 

 
 

ARTICLE VI—ADMINISTRATION OF THE PLAN    
  

        Section 6.01    Administration.    The Plan shall be administered by the
Committee. The
Board of Directors of the Company may appoint the members of the Committee from time to time, and the members of the Committee shall serve at the pleasure of the Board. If the number of members of the
Committee is an odd number, a majority of such numbers shall constitute a quorum; if the number of members of the Committee is an even number, half of such number shall constitute a quorum. 

        The
Committee shall have the full power and authority to construe and interpret the Plan, to establish, amend and rescind rules and regulations with respect to the Plan, and to make any
other determinations that it believes necessary or advisable for the administration of the Plan. Decisions and determinations by the Committee shall be final and binding upon all parties, including
the Company, its shareholders and ASSOCIATES, but the Committee shall rely upon and be bound by the
determinations by the Company's Board of Directors in determining Tax Distribution amounts, if any. The Committee shall have the power to limit the number of Deferred Annuities available to the
Eligible ASSOCIATES under the Plan. 

        Section 6.02    Expenses.    The expenses of administering the Plan shall be
borne by
the Company. 

        Section 6.03    Indemnification.    The Company shall indemnify and save
harmless the
Committee and hold each of them harmless from and against all claims, loss, damages, expense and liability arising from their responsibilities in connection with the administration of the Plan which
is not otherwise paid or reimbursed by insurance, unless the same shall result from their own willful misconduct. 

 
 

ARTICLE VII—MISCELLANEOUS    
  

        Section 7.01    Written Notice.    Any notice which shall be or may be given
under the
Plan or a Payroll Deduction Agreement shall be in writing and shall be mailed by United States mail, postage prepaid. If notice is to be given to the Company, such notice shall be addressed to the
Company at Dallas, Texas, marked for the attention of the Director of Compensation and Benefits (or person in a 

4

 

similar capacity) of the Company or if notice to an Eligible ASSOCIATE, addressed to the address shown on such ASSOCIATE's Payroll Deduction Agreement. 

        Section 7.02    Change of Address.    Any party may, from time to time, change
the
address to which notices shall be mailed by giving written notice of such new address. 

        Section 7.03    Merger, Consolidation or Acquisition.    The Plan shall be
binding upon
the Company, its assigns, and any successor Company which shall succeed to substantially all of its assets and business through merger, acquisition or consolidation, and upon an Eligible ASSOCIATE,
his beneficiary, assigns, heirs, executors and administrators. 

        Section 7.04    Amendment and Termination.    The Company, by action of either
its
Executive Committee of the Board of Directors, or its standing Board of Directors, retains the sole and unilateral right to terminate, amend, modify, or supplement the Plan, in whole or part, at any
time. This right includes the right to make retroactive amendments. 

        Section 7.05    Non-Assignability.    Neither the Company, nor the Eligible
ASSOCIATE, nor any other person or entity shall have any power or right to transfer, alienate, assign, anticipate, hypothecate or otherwise encumber any part or all of the payments provided hereunder,
and no amount due the Eligible ASSOCIATE shall be subject to amendment, garnishment, levy, execution or other legal equitable process prior to its actual receipt by such Eligible ASSOCIATE. 

        Section 7.06    Applicable Law.    The Plan shall be governed by and construed
and
enforced in accordance with the laws of the State of Texas. 

5

  

 
 

SIGNATURES    
  

        IN WITNESS WHEREOF, the Company has caused this instrument to be executed by its duly authorized officer on this
28th day of December, 1999, to be effective as of January 1, 1998. 

	 	 	HAGGAR CLOTHING CO.
	

 	
 	

BY:	

/s/  J.M. HAGGAR, III      

	

 	
 	

NAME:	

J.M. Haggar, III

	

 	
 	

TITLE:	

 
	 	 	 	

S-1

  

 
 

Exhibit "A"    
  

        Jerell, Inc. 

A-1

QuickLinks

Exhibit 10(n)

TABLE OF CONTENTS

PREAMBLE

ARTICLE I—TITLE AND EFFECTIVE DATE

ARTICLE II—DEFINITIONS AND CONSTRUCTION OF PLAN DOCUMENT

ARTICLE III—ELIGIBILITY

ARTICLE IV—PAYROLL DEDUCTION; DEFERRED ANNUITIES

ARTICLE V—ACCOUNTING; TAX DISTRIBUTIONS

ARTICLE VI—ADMINISTRATION OF THE PLAN

ARTICLE VII—MISCELLANEOUS

SIGNATURES

Exhibit "A"Exhibit 4.1

                           PRECISE LIFE SCIENCES LTD.
                              2002 STOCK INCENTIVE
                                      AND
                                  OPTION PLAN

     1. THE PLAN.

          The  purpose  of the Precise Life Sciences  Ltd.'s (the  Company)
2002 Stock Incentive and  Option  Plan  (the Plan) is to provide the Company
with the means of attracting and retaining the services of highly motivated and
qualified directors and key personnel.

          The  Plan is intended to advance the interests  of the  Company  and
its  stockholders  by  affording  to  key employees,  consultants  and  non-
employee  directors,  upon whose  skill, judgment, initiative, and efforts the
Company is  largely  dependent  for the successful  conduct  of  its business,
an opportunity for investment in the Company  and incentives  inherent in stock
ownership in the Company.  The term Company shall include all subsidiaries of
the Company.

     2. LEGAL COMPLIANCE.

          It  is  the intent of the Plan that it conform  in all  respects  with
the requirements of Rule  16b-3  of  the Securities  and  Exchange Commission
under  the  Securities Exchange  Act  of  1934 (Rule 16b-3) or, in connection
with Incentive  Stock/Options (ISOs), as such term is defined  in Section  422
(a) of the Internal Revenue Code of  1986  (the Code) as mentioned from time to
time.  If any aspect of  the Plan  does  not conform to Section 422 (a) of the
Code,  as amended from time to time, such aspect shall be deemed to be modified,
deleted,  or otherwise changed  as  necessary  to insure continued compliance
with such provisions.

     3. ADMINISTRATION OF THE PLAN.

            3.1   PLAN   COMMITTEE:   The  Plan   shall   be administered by a
committee (the Committee).  The members of the  Committee shall be appointed
from time to time  by  the Board  of  Directors of the Company (the  Board)  and
shall consist  of  not less than two (2) nor more  than  five  (5) persons.

            3.2   COMMITTEE PROCEDURES:  The Committee from time to  time  may
adopt such rules and regulations for  carrying out  the purposes of the Plan as
it may deem proper  and  in the best interests of the company.  The committee
shall keep minutes  of  its  meetings and records of  its  actions.   A Majority
of the members of the committee shall constitute  a quorum for the transaction
of any business by the Committee. The Committee may act at any time by an
affirmative vote  of a  majority of those members voting.  Such vote may be
taken at   a   meeting   which   may  be  conducted   in   person,
telephonically,  or  by  written consent  of  all  Committee members without a
meeting.

            3.3 FINALITY OF COMMITTEE ACTION:  The Committee's actions  shall
be final and conclusive and binding  on  all persons,  including, without
limitations, the  Company,  its stockholders, the Committee and each of the
members  of  the Committee, respective successor(s) and interest(s).

            3.4  NON  LIABILITY  OF  COMMITTEE  MEMBERS:   No Committee   member
shall  be  liable  for  any  action   or determination made by him in good faith
with respect to  the Plan or any Options granted or shares issued thereunder.

     4. NON-EXCLUSIVITY OF THE PLAN.

          Nothing  contained  in the  Plan  is  intended  to amend,   modify,
or   rescind  any  previously   app[roved compensation  plan(s), program(s) or
option(s) entered  into by  the  Company.   This Plan shall be construed  to  be
in addition  to  and  independent of any  and  all  such  other arrangements.
Neither the adoption of the Plan by the Board nor  the submission of the Plan to
the Stockholders  of  the Company   for  approval  shall  be  construed  as
creating limitations on the power or authority of the Board to adopt, with  or
without stockholder approval, such  additional  or other  compensation
arrangements as the Board may from  time to time deem desirable.

     5. GOVERNING LAW.

          The  Plan and all rights and obligations under  it shall be construed
and enforced in accordance with the  laws of the State of Nevada.

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