Document:

2016 10-K Exhibit 10.2

EXHIBIT 10.2

Pernix Therapeutics Holdings, Inc.

Amended and Restated 2010 Employee Stock Purchase Plan

On March 3, 2017, Pernix Therapeutics Holdings, Inc., a Maryland corporation ("Pernix" and, together with its Subsidiaries, the "Company"), adopted this Amended and Restated 2010 Employee Stock Purchase Plan (the "Plan"). The Plan first became
effective on July 22, 2010, the date on which it was approved by the stockholders of Pernix. The Appendix, which is incorporated herein by reference, defines the terms used in this Plan. 

1.   Purpose and Intent. 

1.1   Purpose. The purpose of the Plan is to provide employees with an opportunity to acquire a proprietary interest in the Company by purchasing Shares
on favorable terms through voluntary, systematic payroll deductions. The Plan is intended to encourage employees to work in the best interests of Pernix stockholders, to support recruitment
and retention of qualified employees, and to provide employees with an advantageous means of accumulating a long-term investment in the Company.

1.2   Section 423 Plan. It is the intention of the Company to have the Plan qualify as an "Employee Stock Purchase Plan" pursuant to Section
423 of the Code. The provisions of this Plan will be construed to permit participation only in a manner consistent with Section 423.

2.   Administration.

2.1   General. The Plan will generally be administered by the Board. Subject to the express provisions of the Plan, the Board has discretion to interpret the
Plan and to make all other policy decisions relating to the operations of the Plan. The Board may adopt any rules, regulations, guidelines, and forms relating to the Plan that it determines to be
appropriate, and to make any other determination that it believes necessary or advisable for the proper administration of the Plan.

2.2   Delegation. The Board may from time to time delegate any of its authority under the Plan to its Compensation Committee or a subcommittee thereof.
Further, to the extent not prohibited by Applicable Laws, the Board or the Compensation Committee (if so delegated by the Board) may delegate administrative authority, except its authority
under Sections 9 and 10, to one or more other Administrators. Any delegation under this Section 2.2 will be subject to any restrictions and limits specified by the Board or the Compensation
Committee, as applicable. The Board and Compensation Committee, if applicable, retain at all times the right to amend, rescind, or terminate any authority they have delegated. 

2.3   Finality of Determinations. The Board's decisions in matter relating to the Plan are final, conclusive, and binding on the Company, Eligible Employees,
Participants, and all other Persons. 

3.   Establishment of Offering Periods. The Plan will be implemented by a series of offerings (each, an "Offering"). Each Offering will last
for a six-month period beginning on May 1 and November 1 of each year (each, an "Offering Period"). Notwithstanding the foregoing but subject to Section 423 of the
Code, the Administrator may establish (a) a different term for the initial Offering or for one or more future Offerings and (b) different Offering Dates and Closing Dates for such Offerings;
provided, however, that no single Offering may exceed 27 months. Each Offering is intended to qualify as an "offering" under Section 423 of the Code, and each such Offering
applicable to Pernix and its Subsidiaries will be deemed separate offerings under Section 423 of the Code.

4.   Shares Reserved for the Plan.

4.1   Total Shares Issuable under the Plan. Subject to adjustment as provided in Section 9.1, no more than 100,000 Shares will be available for purchase
under the Plan. Shares purchased under the Plan may be either authorized but unissued Shares or Shares acquired by the Company as treasury shares.

4.2   Return of Shares to the Plan. In the event that any Option granted under Section 7.1 expires or is terminated, surrendered, or cancelled without being
exercised, in whole or in part, for any reason, the Shares subject to that Option will again be available for grant under the Plan. 

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4.3   Share Limitations. 

(a)In an Offering Period. The maximum number of Shares that may be purchased in a single Offering is 5,000. If the Administrator determines that, on a
given Closing Date, the number of Shares to be purchased by Participants exceeds this maximum number, or if there are insufficient Shares remaining available for purchase under Section
4.1, then the Administrator will make a pro-rata allocation of this maximum number in as uniform and equitable a manner as is reasonably practicable, as determined in the Administrator's sole
discretion. In such event, the Administrator will provide written notice to each affected Participant of the reduction in the number of Shares to be purchased under his or her Option.

(b)For Individual Participants. The maximum Shares that a Participant may purchase in a single offering under the Plan is 1,000. Further, notwithstanding
any other provision of the Plan, no Participant will be granted an Option to the extent that his or her rights to purchase stock under all employee stock purchase plans of the Company accrues
at a rate which exceeds $25,000 worth of stock (determined at the Fair Market Value of the Shares on the relevant Offering Date) for each calendar year in which such Option is outstanding at
any time. 

4.4   Compliance with Applicable Laws. If the Administrator determines that (a) some or all of the Shares to be purchased by Participants on the Closing
Date would not be issued in accordance with Applicable Laws or any approval by any regulatory body as may be required, (b) the Shares would not be issued pursuant to an effective Form S-8
registration statement, or (c) the issuance of some of all of such Shares pursuant to a Form S-8 registration statement is not advisable due to the risk that such issuance will violate Applicable
Laws; then the Administrator may, without Participant consent, terminate any outstanding Offering Period and the related Options and refund in cash all affected Participants' accumulated
Deposit Account balances for such Offering as soon as practicable. 

5.   Eligibility. 

5.1   General Rule. Any Eligible Employee may elect to become a Participant effective with the first Offering beginning at least six months following his or her
first date of employment. 

5.2   Exception - Five Percent Owner Limitation. Notwithstanding any provision of the Plan, no Participant will be granted an Option to purchase Shares
under this Plan if that Participant (or any other Person whose stock would be attributed to him or her pursuant to Section 424(d) of the Code), immediately after such Option is granted, would
own or hold options to purchase Shares possessing 5% or more of the total combined voting power or value of all classes of equity ownership of Pernix or any of Pernix's Subsidiaries. 

5.3   Imposition of Other Limitations. The Administrator may determine, as to any Offering, that an Option will not be granted to highly-compensated
employees within the meaning of Section 414(q) of the Code. 

6.   Enrollment and Participation. 

6.1   How and When to Enroll. An Eligible Employee may elect to become a Participant by completing and submitting all required Enrollment Documents to
the Administrator, in either handwritten form or through an electronic or other enrollment process as permitted by the Administrator. An Eligible Employee must submit the Enrollment
Documents to the Administrator at least 15 days in advance of an Offering Date in order to participate in that Offering. 

6.2   Payroll Deductions. 

(a)Initial Election. Each Participant's Enrollment Documents will include a payroll deduction authorization on which he or she elects to deduct a percentage of
his or her Compensation on each payday during the Offering Period. The percentage deduction must be a whole number between 1% and 10%, subject to the annual individual dollar amount
limitation of Section 4.3(b). Payroll deductions will commence on the first day of the payroll period following the Offering Date and will continue through the last day of the payroll period within
the Offering. 

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(b)Limited Ability to Increase, Decrease, or Discontinue Participation. A Participant may discontinue participation in the Plan as provided in Section 8, but in
no event may a Participant alter the amount of his or her election for an Offering after the Offering Date. The Participant may increase or decrease his or her percentage participation for an
Offering only by submitting revised Enrollment Documents to the Administrator at least 15 days in advance of the applicable Offering Date. 

(c)Company's Ability to Adjust. Notwithstanding the other provisions of this Plan, the Company may adjust a Participant's payroll deductions at any time
during an Offering Period to the extent necessary to comply with Section 423(b)(8) of the Code and the limitations of Sections 4 and 5. Payroll deductions will recommence and be made in
accordance with a Participant's most recently submitted Enrollment Documents starting with the first Offering Period that begins in the next calendar year (or such other time as is determined
by the Administrator) unless (i) the Participant has elected to withdraw from the Plan in accordance with Section 8.1, (ii) the Participant's employment terminates as contemplated under Section
8.2, or (iii) the Participant is otherwise ineligible to participate in the next Offering. 

6.3   Automatic Re-enrollment. Following the end of an Offering Period, each Participant shall be automatically re-enrolled in the next Offering at the
applicable rate of payroll deductions in effect on the Closing Date of the prior Offering, unless (a) the Participant has elected to withdraw from the Plan in accordance with Section 8.1, (b) the
Participant's employment terminates as contemplated under Section 8.2, or (c) the Participant is otherwise ineligible to participate in the next Offering. Notwithstanding the foregoing, the
Administrator may require current Participants to complete and submit new Enrollment Documents at any time. 

7.   Grant and Exercise of Options.

7.1   Grant of Option. On each Offering Date, each Participant will automatically be granted an Option to purchase as many whole Shares as the Participant
will be able to purchase with the payroll deductions credited to his or her Deposit Account during the applicable Offering Period. 

7.2   Options Not Transferable. A Participant's Options under this Plan may not be sold, pledged, assigned, or transferred in any manner and may only be
exercised during the Participant's lifetime by the Participant. If a Participant sells, pledges, assigns, or transfers his or her Options in violation of this Section 7.2, the Options will immediately
terminate, and the Participant will receive a refund of the accumulated balance of his or her Deposit Account as soon as practicable. 

7.3   Deposit Account. 

(a)All payroll deductions for a Participant will be credited to his or her Deposit Account for bookkeeping purposes only. All payroll deductions will be deposited with
the general funds of the Company and may be used by the Company for any corporate purpose. 

(b)No interest will accrue or be paid to a Participant or his or her Deposit Account under the Plan. The balance credited to a Participant's Deposit Account will be
used to purchase Shares pursuant to Section 7.5 and, except as expressly provided elsewhere in the Plan, no portion of a Participant's Deposit Account will be refunded to him or her. A
Participant may not make any additional payments into his or her Deposit Account. 

7.4   Conditions to Exercise and Issuance of Shares. Shares may not be issued or sold under the Plan unless the issuance or sale complies with all
Applicable Laws. As a condition to the exercise of an Option, the Company may require the Participant to (i) represent and warrant at the time of exercise that the Shares are being purchased
only for investment and without any present intention to sell or distribute such Shares and (ii) to make such other representations as may be required, in the opinion of counsel for the Company,
to effect compliance with all Applicable Laws. 

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7.5    Purchase of Shares. 

(a)Automatic Exercise. Unless a Participant timely withdraws from the Plan as provided in Section 8, his or her Option will be deemed to be exercised
automatically on the Closing Date of an Offering. On the Closing Date, each Participant will automatically acquire, pursuant to the exercise of his or her Option, a whole number of Shares
calculated by dividing the balance of the Participant's Deposit Account by the Purchase Price per Share, subject to the limitations in Sections 4 and 5. No fractional Shares will be purchased.

(b)Deposit Account Balance. Any payroll deductions accumulated in a Participant's Deposit Account that are insufficient to purchase a full Share will be
retained in his or her Deposit Account for the next Offering Period, subject to earlier withdrawal by the Participant as provided under Section 8. Any other payroll deductions remaining in the
Deposit Account on Closing Date will be refunded to the Participant. 

(c)Expiration. If unexercised, the Option will expire on the Closing Date of that Offering. 

7.6   Delivery and Holding of Shares. 

(a)Book Entry Stock Account. When Shares are purchased under the Plan, the Company will establish a book entry stock account in the Participant's name.
Each Participant will be the beneficial owner of the Shares purchased under the Plan and will have all rights of beneficial ownership of such Shares. The Company or its nominee will retain
custody of the Shares purchased under the Plan until specifically requested by a Participant to be sold, transferred, or delivered. 

(b)Company-Designated Broker. The Administrator may designate or approve a Broker to hold Shares purchased under the Plan for the accounts of
Participants. If the Administrator does designate a Broker, promptly following each Closing Date, the number of Shares purchased by each Participant shall be deposited into an account
established in the Participant's name with the Broker. 

(c)Transfer of Shares. A Participant may move Shares he or she has purchased under the Plan to a brokerage account of his or her choosing at any time.

(d)Disqualifying Dispositions. If the Participant sells, transfers, or otherwise disposes of Shares purchased under the Plan prior to the later of (i) two years
following the applicable Offering Date and (ii) one year from the date such Shares were purchased (the "Restricted Period"), such sale, transfer, or other disposition of the
purchased shares may be a disqualifying disposition pursuant to the Section 423 of the Code, in which case the Participant may be subject to various tax consequences, including, without
limitation, income and capital gains tax, and may be required to satisfy the employment and income tax withholding requirements applicable to such income.

(e)Notice. By electing to participate in the Plan, each Participant agrees to promptly give the Company notice of any Shares sold, transferred or otherwise
disposed of during the Restricted Period, showing (i) the number of such Shares sold, transferred or disposed of and (ii) the Offering Date and Closing Date for such Shares. This notice is not
required if and so long as a Participant's Shares are held in book entry form or with the Company's designated Broker, as contemplated in Sections 7.6(a) and (b), respectively.

7.7   Withholding Obligations. At the time the Option is exercised, or at the time a Participant disposes of some or all of the Shares acquired under an
Option, he or she must make adequate provisions for local, state, and federal withholding obligations of the Company, if any, that arise in connection with the exercise or disposition. The
Company may withhold from the Participant's Compensation the amount necessary to meet such withholding obligations. 

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8.   Plan Withdrawal and Termination of Employment.

8.1   Plan Withdrawal Procedures for Employees. An Eligible Employee may withdraw from any Offering after the applicable Offering Date, in whole but not
in part, by submitting the prescribed withdrawal notice to the Administrator at least 15 days prior to the Closing Date of that Offering. If a Participant withdraws from an Offering, the Participant's
Option for such Offering will automatically be terminated, and the Company will refund in cash the Participant's entire accumulated Deposit Account balance as soon as practicable thereafter. A
Participant's withdrawal from a particular Offering is irrevocable and will be treated as a withdrawal from the Plan. If a Participant wishes to participate in a subsequent Offering, he or she must
re-enroll in the Plan by timely submitting new Enrollment Documents in accordance with Section 6.1. 

8.2   Termination of Employment - Deemed Cancellations. 

(a)Termination of Employment. In the event of a Participant's termination of employment, any outstanding Option held by the Participant will immediately
terminate, the Participant will be withdrawn from the Plan, and the Participant will receive a refund of the accumulated balance of his or her Deposit Account. 

(b)Death of Participant. If a Participant dies, any outstanding Option held by the Participant will immediately terminate and the Participant will be withdrawn
from the Plan. As soon as administratively practicable after the Participant's death, the accumulated balance of his or her Deposit Account will be remitted to the beneficiary designated by the
Participant, provided a beneficiary designation has been filed with the Administrator prior to the Participant's death. If the beneficiary is no longer living at the time of the Participant's death, or if
the Participant did not submit a beneficiary designation to the Administrator prior to his or her death, then the balance will be remitted to the executor, administrator, or other legal representative
of the Participant's estate. 

9.   Adjustments for Extraordinary Events. 

9.1   Adjustments to Shares. 

(a)Subject to Section 9.2, upon (or, as may be necessary to effect the adjustment, immediately prior to): any recapitalization, reclassification, stock split (including a
stock split in the form of a stock dividend) or reverse stock split; any merger, combination, consolidation, or other reorganization; any spin-off, split-up, or similar extraordinary dividend
distribution in respect of the Common Stock; or any exchange of Common Stock or other securities of the Company, or any similar, unusual or extraordinary corporate transaction in respect of
the Common Stock; then the Board shall equitably and proportionately adjust (i) the number and type of Shares (or other securities) that thereafter may be made the subject of Options
(including the specific Share limits, maximums, and numbers of Shares set forth elsewhere in the Plan); (ii) the number, amount, and type of Shares (or other securities or property) subject to
any outstanding Options; (iii) the Purchase Price per Share of any outstanding Options; and/or (iv) the securities, cash, or other property deliverable upon exercise or payment of any
outstanding Options, in each case to the extent necessary to preserve (but not increase) the level of incentives intended by the Plan and the then-outstanding Options. 

(b)It is intended that, if possible, any adjustments contemplated by Section 9.1(a) be made in a manner that satisfies applicable legal, tax (including, without
limitation and as applicable in the circumstances, Sections 409A and 424 of the Code), and accounting (so as to not trigger any charge to earnings with respect to such adjustment)
requirements. 

(c)Without limiting the generality of Section 2, any good faith determination by the Board as to whether an adjustment is required in the circumstances pursuant to
this Section 9.1, and the extent and nature of any such adjustment, shall be conclusive and binding on all Persons.

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9.2   Merger or Liquidation. In the event Pernix or its stockholders enter into an agreement to dispose of all or substantially all of the assets or outstanding
capital stock of Pernix by means of a sale, merger, or reorganization in which Pernix will not be the surviving corporation (other than a reorganization effected primarily to change the state in
which Pernix is incorporated, a merger or consolidation with a wholly-owned Subsidiary, or any other transaction in which there is no substantial change in the stockholders of Pernix or their
relative stock holdings, regardless of whether Pernix is the surviving corporation) or in the event the Company is liquidated, then all outstanding Options under the Plan will automatically be
exercised immediately prior to the consummation of such sale, merger, reorganization, or liquidation (deemed the end of the Offering Period in such case) by causing all amounts credited to
each Participant's Deposit Account to be applied to purchase as many Shares pursuant to the Participant's Option as possible at the Purchase Price per Share, subject to the limitations of
Sections 4 and 5.

9.3   Acquisitions and Dispositions. The Board may, in its sole and absolute discretion and in accordance with principles under Section 423 of the Code,
create special Offering Periods for individuals who become Eligible Employees solely in connection with the acquisition of another company or business by merger, reorganization, or purchase
of assets and, notwithstanding Section 8.2(a), may provide for special Closing Dates for Participants who will cease to be Eligible Employees solely in connection with the disposition of all or a
portion of any Subsidiary of Pernix or a portion of the Company, which Offering Periods and purchase rights granted pursuant thereto will, notwithstanding anything stated herein, be subject to
such terms and conditions as the Board considers appropriate in the circumstances.

10.    Amendment, Suspension, and Termination of the Plan. 

10.1   Amendment. The Board may from time to time amend the Plan in any manner it deems necessary or advisable; provided, however, that no such
amendment will be made without stockholder approval if such approval is required by Section 423 of the Code or other Applicable Laws. 

10.2   Term, Suspension and Termination. The Plan will continue in effect for ten years after the date of its approval by Pernix's stockholders.
Notwithstanding the foregoing, the Board may at any time and for any reason suspend or terminate the Plan. During any period of suspension or following termination of the Plan, no additional
Options will be granted.

10.3   Effect of Suspension or Termination. Upon the suspension or termination of the Plan without an established future Closing Date, any accumulated
balance in a Participant's Deposit Account will be refunded to him or her as soon as practicable.

11.   Limitation of Rights. 

11.1   Rights as a Stockholder. A Participant is not a stockholder with respect to the Shares subject to his or her Option until those Shares are purchased
and transferred into his or her name on the Company's books and records as described in Section 7.5. 

11.2   No Rights as an Employee. Nothing in the Plan will be construed to give any person (including any Eligible Employee or Participant) the right to
remain in the employ of the Company or to affect the right of the Company to terminate the employment of any person (including any Eligible Employee or Participant) at any time, with or
without cause. Neither an Option nor any benefit arising under this Plan shall constitute an employment contract with the Company or any of its affiliates. 

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Appendix

DEFINITIONS

Whenever the following terms are used in this Plan, they shall have the meaning specified below unless the context clearly indicates to the contrary. 

"Administrator" means the Board or any other Person exercising authority over the Plan, provided such authority was validly delegated to such
Person under Section 2.2.

"Applicable Laws" means all applicable laws, rules, regulations, and requirements including, but limited to, Maryland state corporate laws, U.S.
federal and state securities laws, the Code, the rules of any stock exchange or quotation system on which the Shares are listed or quoted and the applicable laws, rules, regulations, and
requirements of any other jurisdiction where Options are granted under the Plan or where Eligible Employees reside or provide services, as such laws, rules, regulations, and requirements may
be in effect from time to time. 

"Board" means the Board of Directors of Pernix. 

"Broker" means a stock brokerage or other financial services firm selected by the Company to hold Shares purchased under the Plan in the name of
each Participant. 

"Closing Date" means the last business day of each Offering Period as designated by the Administrator. 

"Code" means the Internal Revenue Code of 1986, as amended and in effect, or any successor statute. References to particular sections of the
Code include any Treasury rules, regulations or guidance interpreting that section, as each may be amended and in effect.

"Common Stock" means the common stock of Pernix, $0.01 par value per share.

"Company" has the meaning provided in the Preamble.

"Compensation" means the Participant's earnings per pay period paid through a Company payroll system for personal services actually rendered in
the course of the Participant's employment. "Compensation" is limited to the amount received by the Participant during the period he or she participates in the Plan and includes
salary, wages, other incentive payments, amounts contributed by the Participant to any benefit plan maintained by the Company (including any 401(k) plan, Section 125 plan, or other deferred
compensation plan), overtime pay, commissions, draws against commissions, shift premiums, sick pay, vacation pay, holiday pay, except to the extent that the exclusion of any of these items is
specifically directed by the Administrator for all employees eligible to participate in the Plan. "Compensation" does not include any non-cash remuneration (such as restricted stock
and stock option exercises), fringe benefits (including car allowances and relocation payments), employee discounts, expense reimbursements or allowances, long-term disability payments,
worker's compensation payments, welfare benefits, and any contribution that the Company makes to any benefit plan (including any 401(k) or any other welfare or retirement plan).

"Deposit Account" means the bookkeeping account maintained by the Company for each Participant to which his or her payroll deductions are
credited as provided in Section 7.3. 

"Eligible Employee" means a person who is employed for tax purposes by Pernix (or, if designated by the Board, by a Subsidiary of Pernix) on a
regular, full-time basis. For purposes of the Plan, the employment relationship will be treated as continuing intact while the individual is on sick leave or other leave of absence approved by the
Company. If the period of leave exceeds 90 days and the individual's right to reemployment is not guaranteed either by statute or by contract, the employment relationship will be deemed to
have terminated on the 91st day of such leave. 

"Enrollment Documents" mean all documents the Administrator requires in order to enroll an employee in the Plan, which may include (i) an
enrollment form, (ii) payroll deduction authorization, (iii) beneficiary designation forms, and (iv) forms necessary to open an account with a Broker. 

"Fair Market Value" is determined as follows: (i) if the Common Stock is listed on an established stock exchange or any automated quotation system
that provides sale quotations, the closing sale price for a share of the Common Stock on such exchange or quotation system on the specified date or, if no shares were traded on that date, the
next prior date on which the Common Stock was traded; (ii) if the Common Stock is not listed on any exchange or quotation system, but bid and asked prices are quoted and published, the
mean between the quoted bid and asked prices on the specified date or, if no shares were traded on that date, the next preceding day on which such prices were available; and (iii) if the
Common Stock is not regularly quoted, the fair market value as determined by the Board through the reasonable application of a reasonable valuation method and in accordance with Section
409A of the Code, including, but not limited to (a) an independent valuation no more than 12 months old at the specified date, (b) a fair market valuation formula also used for business
transactions, or (c) a written report prepared by an experienced individual (who need not be independent) that takes into account all relevant factors, including control premiums or discounts for
lack of marketability, all in compliance with the requirements of Section 409A of the Code. 

"Offering Date" means the first business day of each Offering Period as designated by the Administrator. 

"Offering" and "Offering Period" have the meaning provided in Section 3.

"Option" means the right granted to a given Participant to purchase Shares in an Offering under Section 7.1. 

"Participant" means an Eligible Employee who has elected to participate in the Plan pursuant to Sections 5 and 6. 

"Pernix" has the meaning provided in the Preamble.

"Person" means a natural person, company, limited partnership, general partnership, limited liability company or partnership, joint venture,
association, trust, bank, trust company, land trust, business trust or other organization, whether or not a legal entity, and a government or agency or political subdivision thereof. 

"Plan" means this 2010 Employee Stock Purchase Plan as defined in the Preamble, as it may be amended from time to time according to its terms.

"Purchase Price" means 85% of the lower of (i) the Fair Market Value of a Share on the Offering Date or (ii) the Fair Market Value of a Share on the
Closing Date. 

"Share" means a share of Common Stock.

"Subsidiary" means, with respect to any Person, a corporation or other entity, domestic or foreign, of which that Person owns (directly or indirectly)
within the meaning of Section 424(f) of the Code, 50% or more of the total combined voting power of all classes of stock, membership interests, or other equity interests issued thereby.2016 10-K Exhibit 10.3

EXHIBIT 10.3

AMENDED AND RESTATED GOLF TRUST OF AMERICA, INC.

                 2007 STOCK OPTION PLAN

(Amended and Restated as of October 14, 2016)

	Purposes of Plan
.  The purposes of this Plan, which shall be known as the Amended and Restated Golf Trust of America, Inc. 2007 Stock Option Plan, and is hereinafter referred
to as the "Plan," are (i) to provide incentives for key employees, directors, consultants and other individuals providing services to Golf Trust of America, Inc. (the
"Company") and its subsidiaries and other related entities (each of which is referred to herein as a "Subsidiary") by encouraging their ownership of the
Common Stock, $.01 par value per share, of the Company (the "Stock"), and (ii) to aid the Company in attracting and retaining such key employees, directors, consultants
and other individuals upon whose efforts the Company's success and future growth depends.

	Administration.  

	This Plan shall be administered by a committee of the Board of Directors of the Company (the "Board") or subcommittee thereof (the
"Committee").  The Committee shall be appointed from time to time by the Board and shall consist of not fewer than two of its members.  In the event that no such
Committee exists or is appointed, then the powers to be exercised by the Committee hereunder shall be exercised by the Board.

	For purposes of administration, the Committee, subject to the terms of this Plan, shall have plenary authority to establish such rules and regulations, to make such
determinations and interpretations, and to take such other administrative actions, as it deems necessary or advisable.  All determinations and interpretations made by the Committee shall be
final, conclusive and binding on all persons, including those granted options hereunder (the "Optionees") and their legal representatives and beneficiaries.

	Notwithstanding any other provisions of this Plan, the Committee may impose such conditions on any options as may be required to satisfy the requirements of Rule
16b-3 of the Securities Exchange Act of 1934, as amended (the "Act"), or Sections 162(m) and 409A of the Internal Revenue Code of 1986, as amended (the
"Code").

	The Committee shall hold its meetings at such times and places as it may determine.  A majority of its members shall constitute a quorum.  All determinations of the
Committee shall be made by a majority of its members.  Any decision or determination reduced to writing and signed by all members shall be as effective as if it had been made by a majority
vote at a meeting duly called and held.  The Committee may appoint a secretary (who need not be a member of the Committee).  No member of the Committee shall be liable for any act or
omission with respect to his service on the Committee, if he acts in good faith and in a manner he reasonably believes to be in, or not opposed to, the best interests of the
Company.

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	Stock Available for Options
.  There shall be available for options under this Plan a total of 35,000 shares of Stock, subject to any adjustments that may be made pursuant to Section 5(f)
hereof.  Shares of Stock used for purposes of this Plan may be either authorized and unissued shares, or previously issued shares held in the treasury of the Company, or both.  Shares of
Stock covered by options which have terminated or expired prior to exercise, or which have been tendered as payment upon exercise of other options pursuant to Section 5(c), shall be
available for further option grants hereunder.

	Eligibility
.  Options under this Plan may be granted to key employees of the Company or any Subsidiary, including officers or directors of the Company or any
Subsidiary, and to consultants and other individuals providing services to the Company or any Subsidiary.  Options may be granted to eligible persons whether or not they hold or have held
options previously granted under this Plan or otherwise granted or assumed by the Company.  In selecting recipients for options, the Committee may take into consideration any factors it may
deem relevant, including its estimate of the individual's present and potential contributions to the success of the Company and its Subsidiaries.  Service as a director, officer or consultant of or
to the Company or any Subsidiary shall be considered employment for purposes of this Plan (and the period of such service shall be considered the period of employment for purposes of
Section 5(d) of this Plan); provided, however, that incentive stock options may be granted under this Plan only to an individual who is an "employee" (as such term is used in Section
422 of the Code) of the Company or a Subsidiary which constitutes a "subsidiary corporation" within the meaning of Section 424(f) of the Code.

	Terms and Conditions of Options
.  The Committee shall, in its discretion, prescribe the terms and conditions of the options to be granted hereunder, which terms and conditions need not be the
same in each case, subject to the following:

	Option Price.  

	The price at which each share of Stock may be purchased upon exercise of an option granted under this Plan shall be determined by the Committee in its
discretion, but shall not be less than the fair market value per share of Stock on the date of grant of the option.  In the case of any option intended to be an incentive stock option granted to an
individual owning (directly or by attribution as provided in Section 424(d) of the Code), on the date of grant, stock possessing more than 10% of the total combined voting power of all classes of
stock of the Company or any Subsidiary (which individual shall hereinafter be referred to as a "10% Stockholder"), the price at which each share of Stock may be purchased
upon exercise of the option shall not be less than 110% of the fair market value per share of Stock on the date of grant of the option.  The date of grant of an option shall be the date specified
by the Committee in its grant of the option and shall be determined in accordance with Treasury Regulation   1.409A-1(b)(5)(vi)(B).  Except as otherwise provided in Section 5(f) of this Plan,
the option price of an outstanding option under this Plan may not be repriced.  Notwithstanding the foregoing, an option may be granted with an exercise price lower than that set forth above if
such option is granted pursuant to an assumption or substitution for another option in a manner satisfying the provisions of Section 424(a) of the Code.

___________________

1 The share number in Section 3 of the Plan has been adjusted to reflect the 1-for-10 reverse stock split of the Stock effected as of the close of business on October 13, 2016.

                                                                                                   2

	For purposes of this Section 5(a), "fair market value" shall mean, per share of Stock on a particular date, the closing sales price on such date on the
American Stock Exchange, or if no sales of Stock occur on the date in question, on the last preceding date on which there was a sale on such market.  If the shares of Stock are not listed on
the American Stock Exchange, but are traded on a national securities exchange or in an over-the-counter market, the closing sales price (or if there is no closing sales price reported, the
average of the closing bid and asked prices) for the shares of Stock on the particular date, or on the last preceding date on which there was a sale of the shares of Stock on that exchange or
market, will be used.  If the shares of Stock are neither listed on a national securities exchange nor traded in an over-the-counter market, the price determined by the Committee, in its
discretion, in accordance with the regulations promulgated under Section 2031 of the Code, or by any other appropriate method selected by the Committee, will be used; provided, however,
that such determination shall be in a manner consistent with Section 409A of the Code.

	Option Period.  The period for exercise of an option shall be determined by the Committee in its discretion but in no event shall the exercise period be more
than ten years from the date of grant, or in the case of an option intended to be an incentive stock option granted to a 10% Stockholder, more than five years from the date of grant.  Options
may, in the discretion of the Committee, be made exercisable in installments during the option period.  Any shares not purchased on any applicable installment date may be purchased
thereafter at any time before the expiration of the option period, subject to Section 5(d) below.

	Exercise of Options.  In order to exercise an option, the Optionee shall deliver to the Company written notice specifying the number of shares of Stock to be
purchased, together with full payment of the purchase price therefor; provided, that for the purpose of assisting an Optionee with the exercise of an option, the Company may make loans to the
Optionee or guarantee loans made by third parties to the Optionee, on such terms and conditions as the Board may authorize and as otherwise permitted by law.  The purchase price may be
paid in (i) cash (or a certified or bank cashier's check payable to the order of the Company), (ii) shares of Stock owned by the Optionee, (iii) non-statutory options granted under this Plan and
held by the Optionee (provided, however, that the purchase price of Stock acquired under an incentive stock option may not be paid in options), or (iv) any combination of the foregoing
methods.  Shares of Stock tendered in payment on the exercise of an option shall be valued at their fair market value determined as described in Section 5(a) above, provided that the date of
determination shall be the date of exercise.  The fair market value of options tendered in payment upon exercise of other options shall be the fair market value of the underlying Stock,
determined as aforesaid, less the total exercise price of the options.  In addition, at the request of the Optionee, and subject to applicable laws and regulations, the Company may (but shall not
be required to) cooperate in a "cashless exercise" of an option (i.e., the assignment to the Company of the proceeds from a sale of Stock acquired upon exercise of the option or
from the proceeds of a loan from a brokerage firm).  If the Optionee so requests, shares of Stock purchased upon exercise of an option may be issued in the name of the Optionee or another
person.  An Optionee shall have none of the rights of a stockholder merely by virtue of being an option holder until the shares of Stock are issued to him.

                                                                                                   3

	Effect of Termination of Employment.  

	An option may not be exercised after the Optionee has ceased to be in the employ of the Company or any Subsidiary for any reason other than the Optionee's
death, Disability or Involuntary Termination Without Cause.  A cessation of employment, for purposes of incentive stock options only, shall be deemed to occur on the 91st day of a leave of
absence unless the Optionee's reemployment rights are guaranteed by law or by contract.  "Cause" shall mean any act, action or series of acts or actions or any omission,
omissions or series of omissions which result in, or which have the effect of resulting in, (i) the commission of a crime by the Optionee involving moral turpitude, which crime has a material
adverse impact on the Company or any Subsidiary or which is intended to result in the personal enrichment of the Optionee at the expense of the Company or one of its Subsidiaries, (ii) a
material violation of the Optionee's responsibilities, or the Optionee's gross negligence or willful misconduct, or (iii) the continuous, willful failure of the person in question to follow the
reasonable directives of the Board.  "Disability" shall mean the inability or failure of a person to perform those duties for the Company or any Subsidiary traditionally assigned to and
performed by such person because of the person's then-existing physical or mental condition, impairment or incapacity.  The fact of disability shall be determined by the Committee, which may
consider such evidence as it considers desirable under the circumstances, the determination of which shall be final and binding upon all parties.  "Involuntary Termination Without
Cause" shall mean either (i) the dismissal of, or the request for the resignation of, a person, by court order, order of any court-appointed liquidator or trustee of the Company or the order
or request of any creditors' committee of the Company constituted under the Federal bankruptcy laws, provided that such order or request contains no specific reference to Cause, or (ii) the
dismissal of, or the request for the resignation of, a person, by a duly constituted corporate officer of the Company or any Subsidiary, or by the Board, for any reason other than for
Cause.

	During the three months after the date of the Optionee's Involuntary Termination Without Cause, the Optionee shall have the right to exercise the options granted
under this Plan, but only to the extent the options were exercisable on the date of the cessation of the Optionee's employment.

	During the 12 months after the Optionee's employment with the Company or any Subsidiary ceases as a result of the Optionee's Disability, the Optionee shall have
the right to exercise the options granted under this Plan, but only to the extent the options were exercisable on the date of the cessation of the Optionee's employment.

	In the event of the death of the Optionee while employed or, in the event of the death of the Optionee after cessation of employment described in subparagraph (ii)
or (iii) above, but within the three-month or 12-month period described in subparagraph (ii) or (iii) above, the options granted under this Plan shall be exercisable until the expiration of 12
months following the Optionee's death, but only to the extent

                                                                                                   4

the option was exercisable on the date of the cessation of the Optionee's employment.  During such extended period, the option
may be exercised by the person or persons to whom the deceased Optionee's rights under the option shall pass by will or by the laws of descent and distribution.  The provisions of this
subparagraph (iv) shall apply to any outstanding options which are incentive stock options to the extent permitted by Sections 421 and 422(d) of the Code and such outstanding options in
excess thereof shall, immediately upon the death of the Optionee, be treated for all purposes of this Plan as non-statutory stock options and shall be exercisable as such as provided in this
subparagraph (iv).

	In no event shall any option be exercisable beyond the applicable exercise period determined pursuant to Section 5(b) of this Plan.  Nothing in this Plan or in any
option granted pursuant to this Plan (in the absence of an express provision to the contrary) shall confer on any individual any right to continue in the employ of the Company or any Subsidiary
or interfere in any way with the right of the Company or Subsidiary to terminate his employment at any time.

	Nontransferability of Options.  Except as otherwise set forth herein, during the lifetime of an Optionee, options held by such Optionee shall be exercisable
only by him, and no option shall be transferable other than by will or the laws of descent and distribution.  Notwithstanding the foregoing, the Committee, in its absolute discretion, may grant
non-statutory stock options that may be transferred without consideration, in whole or in part, by the Optionee to (i) the Optionee's child, stepchild, grandchild, parent, stepparent, grandparent,
spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law, including adoptive relationships, or any person sharing
the Optionee"s household (other than a tenant or employee) ("Family Members"), (ii) a trust in which Family Members (or the Optionee) have more than 50% of the
beneficial interest, (iii) a foundation in which Family Members (or the Optionee) control the management of assets, or (iv) any other entity in which Family Members (or the Optionee) own more
than 50% of the voting interests.  In all cases, the Committee must be notified in advance in writing of the terms of any proposed transfer to a permitted transferee and such transfers may occur
only with the consent of and subject to the rules and conditions imposed by the Committee.  The transferee and the transferred options shall continue to be subject to the same terms and
conditions as were applicable immediately prior to the transfer.  The provisions of this Plan, including, but not limited to, those set forth in Section 5(b) and (d), shall continue to apply with
respect to the Optionee and the option shall be exercisable by the transferee only to the extent and for the periods specified herein and in any applicable option agreement.  To the extent
required by applicable law, the Optionee shall remain subject to withholding taxes upon exercise of any transferred option by the transferee.

	Adjustments for Change in Stock Subject to Plan.  In the event of a reorganization, recapitalization, stock split, stock dividend, combination of shares,
merger, consolidation, rights offering or any other change in the corporate structure or shares of the Company, corresponding adjustments automatically shall be made to the number and kind
of shares available for issuance under this Plan, the number and kind of shares covered by outstanding options under this Plan and the exercise price per share for outstanding options.  In
addition, the Committee may make such other adjustments as it determines to be equitable.  Adjustments under this Section 5(f) shall, to the extent practicable and applicable, be made in a
manner consistent with the requirements of Section 409A of the Code and, in the case of incentive stock options, Section 424(a) of the Code.

                                                                                                   5

	Acceleration of Exercisability of Options Upon Occurrence of Certain Events.  In connection with any merger or consolidation in which the Company is not
the surviving corporation and which results in the holders of the outstanding voting securities of the Company (determined immediately prior to such merger or consolidation) owning less than a
majority of the outstanding voting securities of the surviving corporation (determined immediately following such merger or consolidation), or any sale or transfer by the Company of all or
substantially all of its assets or any tender offer or exchange offer for or the acquisition, directly or indirectly, by any person or group of all or a majority of the then-outstanding voting securities
of the Company, all outstanding options under this Plan shall become exercisable in full, notwithstanding any other provision of this Plan or of any outstanding options granted thereunder, on
and after (i) the 15th day prior to the effective date of such merger, consolidation, sale, transfer or acquisition, or (ii) the date of commencement of such tender offer or exchange offer, as the
case may be.  The provisions of the foregoing sentence shall apply to any outstanding options which are incentive stock options to the extent permitted by Section 422(d) of the Code and such
outstanding options in excess thereof shall, immediately upon the occurrence of the event described in clause (i) or (ii) of the foregoing sentence, be treated for all purposes of this Plan as non-statutory
 stock options and shall be immediately exercisable as such, as provided in the foregoing sentence.  Notwithstanding the foregoing, in no event shall any option be exercisable after the
date of termination of the exercise period of such option determined pursuant to Sections 5(b) and 5(d).

	Registration, Listing and Qualification of Shares of Stock.  Each option shall be subject to the requirement that if at any time the Board shall determine that
the registration, listing or qualification of shares of Stock covered thereby upon any securities exchange or under any Federal or state law, or the consent or approval of any governmental
regulatory body, is necessary or desirable as a condition of, or in connection with, the granting of such option or the purchase of shares of Stock thereunder, no such option may be exercised
unless and until such registration, listing, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Board.  The Company may require
that any person exercising an option shall make such representations and agreements and furnish such information as it deems appropriate to assure compliance with the foregoing or any
other applicable legal requirement.

	Other Terms and Conditions.  The Committee may impose such other terms and conditions, not inconsistent with the terms hereof, on the grant or exercise
of options, as it deems advisable.

	Additional Provisions Applicable to Incentive Stock Options
.  The Committee may, in its discretion, grant options under this Plan which constitute "incentive stock options" within the meaning of Section 422 of
the Code to eligible employees of the Company and its "subsidiary corporations" within the meaning of Section 424(f) of the Code; provided, however, that the aggregate market
value of the Stock (determined as of the date the incentive stock option is granted) with respect to which incentive stock options are exercisable for the first time by the Optionee during any
calendar year shall not exceed $100,000 or such other limitation set forth in Section 422(d) of the Code.

                                                                                                   6

	Effectiveness of the Plan.
This Plan shall be effective as of November 8, 2007 subject to approval by the stockholders of the Company at the Annual Meeting of Stockholders to be held
on December 14, 2007.

	Amendment and Termination
.  The Board may at any time amend this Plan or the terms of any option outstanding under this Plan; provided, however, that, except as contemplated in
Section 5(f), the Board shall not, without approval by a majority of the votes cast by the stockholders of the Company at a meeting of stockholders at which a proposal to amend this Plan is
voted upon, (i) increase the maximum number of shares of Stock for which options may be granted under this Plan, or (ii) except as otherwise provided in this Plan, amend the requirements as
to the class of employees eligible to receive options.  The Board may terminate this Plan at any time.  Unless this Plan shall theretofore have been terminated, this Plan shall terminate, and no
option shall be granted hereunder after, September 20, 2017.  No amendment or termination of this Plan or any option outstanding under this Plan may, without the consent of an Optionee,
adversely affect the rights of such Optionee under any option held by such Optionee.

	Withholding
.  It shall be a condition to the obligation of the Company to issue shares of Stock upon exercise of an option that the Optionee (or any beneficiary or person
entitled to act under Section 5(d) hereof) remit to the Company, or make arrangements satisfactory to the Company to pay through payroll withholding or otherwise, such amount as may be
requested by the Company to meet any Federal, foreign, state or local tax withholding obligations with respect to such exercise.  If the amount requested is not paid, the Company may refuse
to issue such shares of Stock.

	Compliance with Code Section 409A
.  It is generally intended that the Plan and all option grants hereunder either comply with, or meet the requirements for an exemption from, Section 409A of the
Code, and the Plan shall be operated and administered accordingly.  To the extent that any option grants hereunder may provide for the deferral of compensation within the meaning of Section
409A of the Code, the Company intends that such option grants shall comply with Section 409A of the Code, and the Committee shall determine and interpret the terms of such option grants
consistent with such intent.  Notwithstanding any other provisions of the Plan or any option agreement, the Company does not guarantee to any Optionee (or any other person with an interest
in an option award) that the Plan or any option grant hereunder complies with or is exempt from Section 409A, and shall not indemnify or hold harmless any individual with respect to any tax
consequences that arise from any such failure to comply with or be exempt under Section 409A.

	Other Actions
.  Nothing contained in this Plan shall be construed to limit the authority of the Company to exercise its corporate rights and powers, including, but not by way of
limitation, the right of the Company to grant or assume options for proper corporate purposes other than under this Plan with respect to any employee or other person, firm, corporation or
association.

                                                                                                   7

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