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<P ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 10.4 </FONT>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CHIRAL QUEST, INC. </FONT></H1>

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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2003 STOCK OPTION PLAN </FONT></H1>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Purpose</U>. The purpose of the 2003 Stock Option Plan (the
          &#147;<B>Plan</B>&#148;) of Chiral Quest, Inc. (the <B>&#147;Company</B>&#148;)
          is to increase shareholder value and to advance the interests of the Company by
          furnishing a variety of economic incentives (&#147;<B>Incentives</B>&#148;)
          designed to attract, retain and motivate employees, directors and consultants.
          Incentives may consist of opportunities to purchase or receive shares of Common
          Stock, $0.01 par value, of the Company (&#147;<B>Common Stock</B>&#148;),
          monetary payments or both on terms determined under this Plan. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.
Administration.</I> </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1
The Plan shall be administered by a committee of the Board of Directors of the Company
(the &#147;<B>Committee</B>&#148;). The Committee shall consist of not less than two
directors of the Company who shall be appointed from time to time by the board of
directors of the Company. Each member of the Committee shall be a &#147;non-employee
director&#148; within the meaning of Rule 16b-3 of the Exchange Act of 1934, as amended
(together with the rules and regulations promulgated thereunder, the &#147;<B>Exchange
Act</B>&#148;), and an &#147;outside director&#148; as defined in Section 162(m) of the
Internal Revenue Code of 1986, as amended (the <B>&#147;Code</B>&#148;). The Committee
shall have complete authority to determine all provisions of all Incentives awarded under
the Plan (as consistent with the terms of the Plan), to interpret the Plan, and to make
any other determination which it believes necessary and advisable for the proper
administration of the Plan. The Committee&#146;s decisions and matters relating to the
Plan shall be final and conclusive on the Company and its participants. No member of the
Committee will be liable for any action or determination made in good faith with respect
to the Plan or any Incentives granted under the Plan. The Committee will also have the
authority under the Plan to amend or modify the terms of any outstanding Incentives in any
manner; provided, however, that the amended or modified terms are permitted by the Plan as
then in effect and that any recipient on an Incentive adversely affected by such amended
or modified terms has consented to such amendment or modification. No amendment or
modification to an Incentive, however, whether pursuant to this Section 2 or any other
provisions of the Plan, will be deemed to be a re-grant of such Incentive for purposes of
this Plan. If at any time there is no Committee, then for purposes of the Plan the term
&#147;Committee&#148; shall mean the Company&#146;s Board of Directors. </FONT>
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<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2
In the event of (i)&nbsp;any reorganization, merger, consolidation, recapitalization,
liquidation, reclassification, stock dividend, stock split, combination of shares, rights
offering, extraordinary dividend or divestiture (including a spin-off) or any other
similar change in corporate structure or shares, (ii)&nbsp;any purchase, acquisition, sale
or disposition of a significant amount of assets or a significant business, (iii)&nbsp;any
change in accounting principles or practices, or (iv)&nbsp;any other similar change, in
each case with respect to the Company or any other entity whose performance is relevant to
the grant or vesting of an Incentive, the Committee (or, if the Company is not the
surviving corporation in any such transaction, the board of directors of the surviving
corporation) may, without the consent of any affected participant, amend or modify the
vesting criteria of any outstanding Incentive that is based in whole or in part on the
financial performance of the Company (or any subsidiary or division thereof) or such other
entity so as equitably to reflect such event, with the desired result that the criteria
for evaluating such financial performance of the Company or such other entity will be
substantially the same (in the sole discretion of the Committee or the board of directors
of the surviving corporation) following such event as prior to such event; provided,
however, that the amended or modified terms are permitted by the Plan as then in effect. </FONT>
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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Eligible Participants</U>. Employees of the Company or its subsidiaries
          (including officers and employees of the Company or its subsidiaries), directors
          and consultants, advisors or other independent contractors who provide services
          to the Company or its subsidiaries (including members of the Company&#146;s
          scientific advisory board) shall become eligible to receive Incentives under the
          Plan when designated by the Committee. Participants may be designated
          individually or by groups or categories (for example, by pay grade) as the
          Committee deems appropriate. Participation by officers of the Company or its
          subsidiaries and any performance objectives relating to such officers must be
          approved by the Committee. Participation by others and any performance
          objectives relating to others may be approved by groups or categories (for
          example, by pay grade) and authority to designate participants who are not
          officers and to set or modify such targets may be delegated. </FONT></P>

     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Types of Incentives</U>. Incentives under the Plan may be granted in any one
          or a combination of the following forms: (a) incentive stock options and
          non-statutory stock options (Section 6); (b) stock appreciation rights
          (&#147;<B>SARs</B>&#148;) (Section 7); (c) stock awards (Section 8); (d)
          restricted stock (Section 8); and (e) performance shares (Section 9). </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Shares Subject to the Plan</U>. </FONT></P>

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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Number of Shares</U>. Subject to adjustment as provided in Section 11.6, the
               number of shares of Common Stock which may be issued under the Plan shall not
               exceed 2,500,000 shares of Common Stock. Shares of Common Stock that are issued
               under the Plan or that are subject to outstanding Incentives will be applied to
               reduce the maximum number of shares of Common Stock remaining available for
               issuance under the Plan. </FONT></P></TD>
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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Cancellation</U>. To the extent that cash in lieu of shares of Common Stock
               is delivered upon the exercise of an SAR pursuant to Section 7.4, the Company
               shall be deemed, for purposes of applying the limitation on the number of
               shares, to have issued the greater of the number of shares of Common Stock which
               it was entitled to issue upon such exercise or on the exercise of any related
               option. In the event that a stock option or SAR granted hereunder expires or is
               terminated or canceled unexercised or unvested as to any shares of Common Stock,
               such shares may again be issued under the Plan either pursuant to stock options,
               SARs or otherwise. In the event that shares of Common Stock are issued as
               restricted stock or pursuant to a stock award and thereafter are forfeited or
               reacquired by the Company pursuant to rights reserved upon issuance thereof,
               such forfeited and reacquired shares may again be issued under the Plan, either
               as restricted stock, pursuant to stock awards or otherwise. The Committee may
               also determine to cancel, and agree to the cancellation of, stock options in
               order to make a participant eligible for the grant of a stock option at a lower
               price than the option to be canceled. </FONT></P></TD>
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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Stock Options</U>. A stock option is a right to purchase shares of Common
          Stock from the Company. The Committee may designate whether an option is to be
          considered an incentive stock option or a non-statutory stock option. To the
          extent that any incentive stock option granted under the Plan ceases for any
          reason to qualify as an &#147;incentive stock option&#148; for purposes of
          Section 422 of the Code, such incentive stock option will continue to be
          outstanding for purposes of the Plan but will thereafter be deemed to be a
          non-statutory stock option. Each stock option granted by the Committee under
          this Plan shall be subject to the following terms and conditions: </FONT></P>

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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Price</U>. The option price per share shall be determined by the Committee,
               subject to adjustment under Section 11.6. </FONT></P></TD>
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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Number</U>. The number of shares of Common Stock subject to the option shall
               be determined by the Committee, subject to adjustment as provided in Section
               11.6. The number of shares of Common Stock subject to a stock option shall be
               reduced in the same proportion that the holder thereof exercises a SAR if any
               SAR is granted in conjunction with or related to the stock option. No individual
               may receive options to purchase more than 1,000,000 shares in any year. </FONT></P></TD>
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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Duration and Time for Exercise</U>. Subject to earlier termination as
               provided in Section 11.4, the term of each stock option shall be determined by
               the Committee but shall not exceed ten years and one day from the date of grant.
               Each stock option shall become exercisable at such time or times during its term
               as shall be determined by the Committee at the time of grant. The Committee may
               accelerate the exercisability of any stock option. Subject to the foregoing and
               with the approval of the Committee, all or any part of the shares of Common
               Stock with respect to which the right to purchase has accrued may be purchased
               by the Company at the time of such accrual or at any time or times thereafter
               during the term of the option. </FONT></P></TD>
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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Manner of Exercise</U>. Subject to the conditions contained in this Plan and
               in the agreement with the recipient evidencing such option, a stock option may
               be exercised, in whole or in part, by giving written notice to the Company,
               specifying the number of shares of Common Stock to be purchased and accompanied
               by the full purchase price for such shares. The exercise price shall be payable
               (a) in United States dollars upon exercise of the option and may be paid by
               cash; uncertified or certified check; bank draft; (b) at the discretion of the
               Committee, by delivery of shares of Common Stock that are already owned by the
               participant in payment of all or any part of the exercise price, which shares
               shall be valued for this purpose at the Fair Market Value on the date such
               option is exercised; or (c) at the discretion of the Committee, by instructing
               the Company to withhold from the shares of Common Stock issuable upon exercise
               of the stock option shares of Common Stock in payment of all or any part of the
               exercise price and/or any related withholding tax obligations, which shares
               shall be valued for this purpose at the Fair Market Value or in such other
               manner as may be authorized from time to time by the Committee. The shares of
               Common Stock delivered by the participant pursuant to Section 6.4(b) must have
               been held by the participant for a period of not less than six months prior to
               the exercise of the option, unless otherwise determined by the Committee. Prior
               to the issuance of shares of Common Stock upon the exercise of a stock option, a
               participant shall have no rights as a shareholder. Except as otherwise provided
               in the Plan, no adjustment will be made for dividends or distributions with
               respect to such stock options as to which there is a record date preceding the
               date the participant becomes the holder of record of such shares, except as the
               Committee may determine in its discretion. </FONT></P></TD>
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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;6.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Incentive Stock Options</U>. Notwithstanding anything in the Plan to the
               contrary, the following additional provisions shall apply to the grant of stock
               options which are intended to qualify as Incentive Stock Options (as such term
               is defined in Section 422 of the Code): </FONT></P></TD>
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               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               The aggregate Fair Market Value (determined as of the time the option is
               granted) of the shares of Common Stock with respect to which Incentive Stock
               Options are exercisable for the first time by any participant during any
               calendar year (under the Plan and any other incentive stock option plans of the
               Company or any subsidiary or parent corporation of the Company) shall not exceed
               $100,000. The determination will be made by taking incentive stock options into
               account in the order in which they were granted. </FONT></P></TD>
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               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               Any Incentive Stock Option certificate authorized under the Plan shall contain
               such other provisions as the Committee shall deem advisable, but shall in all
               events be consistent with and contain all provisions required in order to
               qualify the options as Incentive Stock Options. </FONT></P></TD>
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               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               All Incentive Stock Options must be granted within ten years from the earlier of
               the date on which this Plan was adopted by board of directors or the date this
               Plan was approved by the Company&#146;s shareholders. </FONT></P></TD>
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               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               Unless sooner exercised, all Incentive Stock Options shall expire no later than
               10 years after the date of grant. No Incentive Stock Option may be exercisable
               after ten (10) years from its date of grant (five (5) years from its date of
               grant if, at the time the Incentive Stock Option is granted, the Participant
               owns, directly or indirectly, more than 10% of the total combined voting power
               of all classes of stock of the Company or any parent or subsidiary corporation
               of the Company). </FONT></P></TD>
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               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               The exercise price for Incentive Stock Options shall be not less than 100% of
               the Fair Market Value of one share of Common Stock on the date of grant with
               respect to an Incentive Stock Option; provided that the exercise price shall be
               110% of the Fair Market Value if, at the time the Incentive Stock Option is
               granted, the participant owns, directly or indirectly, more than 10% of the
               total combined voting power of all classes of stock of the Company or any parent
               or subsidiary corporation of the Company. </FONT></P></TD>
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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Stock Appreciation Rights</U>. An SAR is a right to receive, without payment
          to the Company, a number of shares of Common Stock, cash or any combination
          thereof, the amount of which is determined pursuant to the formula set forth in
          Section 7.4. An SAR may be granted (a) with respect to any stock option granted
          under this Plan, either concurrently with the grant of such stock option or at
          such later time as determined by the Committee (as to all or any portion of the
          shares of Common Stock subject to the stock option), or (b) alone, without
          reference to any related stock option. Each SAR granted by the Committee under
          this Plan shall be subject to the following terms and conditions: </FONT></P>

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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Number; Exercise Price</U>. Each SAR granted to any participant shall relate
               to such number of shares of Common Stock as shall be determined by the
               Committee, subject to adjustment as provided in Section 11.6. In the case of an
               SAR granted with respect to a stock option, the number of shares of Common Stock
               to which the SAR pertains shall be reduced in the same proportion that the
               holder of the option exercises the related stock option. The exercise price of
               an SAR will be determined by the Committee, in its discretion, at the date of
               grant but may not be less than 100% of the Fair Market Value of one share of
               Common Stock on the date of grant. </FONT></P></TD>
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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Duration</U>. Subject to earlier termination as provided in Section 11.4, the
               term of each SAR shall be determined by the Committee but shall not exceed ten
               years and one day from the date of grant. Unless otherwise provided by the
               Committee, each SAR shall become exercisable at such time or times, to such
               extent and upon such conditions as the stock option, if any, to which it relates
               is exercisable. The Committee may in its discretion accelerate the
               exercisability of any SAR. </FONT></P></TD>
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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Exercise</U>. An SAR may be exercised, in whole or in part, by giving written
               notice to the Company, specifying the number of SARs which the holder wishes to
               exercise. Upon receipt of such written notice, the Company shall, within 90 days
               thereafter, deliver to the exercising holder certificates for the shares of
               Common Stock or cash or both, as determined by the Committee, to which the
               holder is entitled pursuant to Section 7.4. </FONT></P></TD>
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               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;7.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Payment</U>. Subject to the right of the Committee to deliver cash in lieu of
               shares of Common Stock (which, as it pertains to officers and directors of the
               Company, shall comply with all requirements of the Exchange Act), the number of
               shares of Common Stock which shall be issuable upon the exercise of an SAR shall
               be determined by dividing: </FONT></P></TD>
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               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               the number of shares of Common Stock as to which the SAR is exercised multiplied
               by the amount of the appreciation in such shares (for this purpose, the
               &#147;appreciation&#148; shall be the amount by which the Fair Market Value of
               the shares of Common Stock subject to the SAR on the exercise date exceeds (1)
               in the case of an SAR related to a stock option, the exercise price of the
               shares of Common Stock under the stock option or (2) in the case of an SAR
               granted alone, without reference to a related stock option, an amount which
               shall be determined by the Committee at the time of grant, subject to adjustment
               under Section 11.6); by </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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     </font>

<hr STYLE="page-break-after:always" color="#000000" size="0">

     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          the Fair Market Value of a share of Common Stock on the exercise date. </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
lieu of issuing shares of Common Stock upon the exercise of a SAR, the Committee may elect
to pay the holder of the SAR cash equal to the Fair Market Value on the exercise date of
any or all of the shares which would otherwise be issuable. No fractional shares of Common
Stock shall be issued upon the exercise of an SAR; instead, the holder of the SAR shall be
entitled to receive a cash adjustment equal to the same fraction of the Fair Market Value
of a share of Common Stock on the exercise date or to purchase the portion necessary to
make a whole share at its Fair Market Value on the date of exercise. </FONT>
</TD>
</TR>
</TABLE>
<font size="2">
<BR>

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     </font>
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Stock Awards and Restricted Stock</U>. A stock award consists of the transfer
          by the Company to a participant of shares of Common Stock, without other payment
          therefor, as additional compensation for services to the Company. The
          participant receiving a stock award will have all voting, dividend, liquidation
          and other rights with respect to the shares of Common Stock issued to a
          participant as a stock award under this Section 8 upon the participant becoming
          the holder of record of such shares. A share of restricted stock consists of
          shares of Common Stock which are sold or transferred by the Company to a
          participant at a price determined by the Committee (which price shall be at
          least equal to the minimum price required by applicable law for the issuance of
          a share of Common Stock) and subject to restrictions on their sale or other
          transfer by the participant, which restrictions and conditions may be determined
          by the Committee as long as such restrictions and conditions are not
          inconsistent with the terms of the Plan. The transfer of Common Stock pursuant
          to stock awards and the transfer and sale of restricted stock shall be subject
          to the following terms and conditions: </FONT></P>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Number of Shares</U>. The number of shares to be transferred or sold by the
               Company to a participant pursuant to a stock award or as restricted stock shall
               be determined by the Committee. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Sale Price</U>. The Committee shall determine the price, if any, at which
               shares of restricted stock shall be sold or granted to a participant, which may
               vary from time to time and among participants and which may be below the Fair
               Market Value of such shares of Common Stock at the date of sale. </FONT></P></TD>
               </TR>
               </TABLE>
               &nbsp;<!-- MARKER FORMAT-SHEET="Para (List) Indent Level 1" FSL="Default" --><TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Restrictions</U>. All shares of restricted stock transferred or sold
               hereunder shall be subject to such restrictions as the Committee may determine,
               including, without limitation any or all of the following: </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               a prohibition against the sale, transfer, pledge or other encumbrance of the
               shares of restricted stock, such prohibition to lapse at such time or times as
               the Committee shall determine (whether in annual or more frequent installments,
               at the time of the death, disability or retirement of the holder of such shares,
               or otherwise); </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>

<hr STYLE="page-break-after:always" color="#000000" size="0">

          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               a requirement that the holder of shares of restricted stock forfeit, or (in the
               case of shares sold to a participant) resell back to the Company at his or her
               cost, all or a part of such shares in the event of termination of his or her
               employment or consulting engagement during any period in which such shares are
               subject to restrictions; or </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               such other conditions or restrictions as the Committee may deem advisable. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Escrow</U>. In order to enforce the restrictions imposed by the Committee
               pursuant to Section 8.3, the participant receiving restricted stock shall enter
               into an agreement with the Company setting forth the conditions of the grant.
               Shares of restricted stock shall be registered in the name of the participant
               and deposited, together with a stock power endorsed in blank, with the Company.
               Each such certificate shall bear a legend in substantially the following form: </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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</font>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The
transferability of this certificate and the shares of Common Stock represented by it are
subject to the terms and conditions (including conditions of forfeiture) contained in the
2003 Stock Option Plan of Chiral Quest, Inc., (the &#147;Company&#148;), and an agreement
entered into between the registered owner and the Company. A copy of the 2003 Stock Option
Plan and the agreement is on file in the office of the secretary of the Company. </FONT></TD>
</TR>
</TABLE>
<font size="2">
<BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>End of Restrictions</U>. Subject to Section 11.5, at the end of any time
               period during which the shares of restricted stock are subject to forfeiture and
               restrictions on transfer, such shares will be delivered free of all restrictions
               to the participant or to the participant&#146;s legal representative,
               beneficiary or heir. </FONT></P></TD>
               </TR>
               </TABLE>
               &nbsp;<!-- MARKER FORMAT-SHEET="Para (List) Indent Level 1" FSL="Default" --><TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;8.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Shareholder</U>. Subject to the terms and conditions of the Plan, each
               participant receiving restricted stock shall have all the rights of a
               shareholder with respect to shares of stock during any period in which such
               shares are subject to forfeiture and restrictions on transfer, including without
               limitation, the right to vote such shares. Dividends paid in cash or property
               other than Common Stock with respect to shares of restricted stock shall be paid
               to the participant currently. Unless the Committee determines otherwise in its
               sole discretion, any dividends or distributions (including regular quarterly
               cash dividends) paid with respect to shares of Common Stock subject to the
               restrictions set forth above will be subject to the same restrictions as the
               shares to which such dividends or distributions relate. In the event the
               Committee determines not to pay dividends or distributions currently, the
               Committee will determine in its sole discretion whether any interest will be
               paid on such dividends or distributions. In addition, the Committee in its sole
               discretion may require such dividends and distributions to be reinvested (and in
               such case the participant consents to such reinvestment) in shares of Common
               Stock that will be subject to the same restrictions as the shares to which such
               dividends or distributions relate. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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     </font>

<hr STYLE="page-break-after:always" color="#000000" size="0">

     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Performance Shares</U>. A performance share consists of an award which shall
          be paid in shares of Common Stock, as described below. The grant of a
          performance share shall be subject to such terms and conditions as the Committee
          deems appropriate, including the following: </FONT></P>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Performance Objectives</U>. Each performance share will be subject to
               performance objectives for the Company or one of its operating units to be
               achieved by the participant before the end of a specified period. The number of
               performance shares granted shall be determined by the Committee and may be
               subject to such terms and conditions, as the Committee shall determine. If the
               performance objectives are achieved, each participant will be paid in shares of
               Common Stock or cash as determined by the Committee. If such objectives are not
               met, each grant of performance shares may provide for lesser payments in
               accordance with formulas established in the award. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Not Shareholder</U>. The grant of performance shares to a participant shall
               not create any rights in such participant as a shareholder of the Company, until
               the payment of shares of Common Stock with respect to an award. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>No Adjustments</U>. No adjustment shall be made in performance shares granted
               on account of cash dividends which may be paid or other rights which may be
               issued to the holders of Common Stock prior to the end of any period for which
               performance objectives were established. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;9.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Expiration of Performance Share</U>. If any participant&#146;s employment or
               consulting engagement with the Company is terminated for any reason other than
               normal retirement, death or disability prior to the achievement of the
               participant&#146;s stated performance objectives, all the participant&#146;s
               rights on the performance shares shall expire and terminate unless otherwise
               determined by the Committee. In the event of termination of employment or
               consulting by reason of death, disability, or normal retirement, the Committee,
               in its own discretion may determine what portions, if any, of the performance
               shares should be paid to the participant. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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     </font><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Change of Control</U>. <br>
&nbsp;</FONT><!-- MARKER FORMAT-SHEET="Para Large Indent Level 1" FSL="Default" --><TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.1
<U>Change in Control</U>. For purposes of this Section 10, a &#147;<B>Change in
Control</B>&#148; of the Company will mean the following: </FONT>
</TD>
</TR>
</TABLE>
<font size="2">
<BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               the sale, lease, exchange or other transfer, directly or indirectly, of
               substantially all of the assets of the Company (in one transaction or in a
               series of related transactions) to a person or entity that is not controlled by
               the Company; </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               the approval by the shareholders of the Company of any plan or proposal for the
               liquidation or dissolution of the Company; </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>

<hr STYLE="page-break-after:always" color="#000000" size="0">

          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               any person becomes after the effective date of the Plan the &#147;beneficial
               owner&#148; (as defined in Rule 13d-3 under the Exchange Act), directly or
               indirectly, of (i) 20% or more, but not 50% or more, of the combined voting
               power of the Company&#146;s outstanding securities ordinarily having the right
               to vote at elections of directors, unless the transaction resulting in such
               ownership has been approved in advance by the Continuing Directors (as defined
               below), or (ii) 50% or more of the combined voting power of the Company&#146;s
               outstanding securities ordinarily having the right to vote at elections of
               directors (regardless of any approval by the Continuing Directors); provided
               that a traditional institution or venture capital financing transaction shall be
               excluded from this definition; </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               a merger or consolidation to which the Company is a party if the shareholders of
               the Company immediately prior to effective date of such merger or consolidation
               have &#147;beneficial ownership&#148; (as defined in Rule&nbsp;13d-3 under the
               Exchange Act), immediately following the effective date of such merger or
               consolidation, of securities of the surviving corporation representing (i) 50%
               or more, but less than 80%, of the combined voting power of the surviving
               corporation&#146;s then outstanding securities ordinarily having the right to
               vote at elections of directors, unless such merger or consolidation has been
               approved in advance by the Continuing Directors, or (ii)&nbsp;less than 50% of
               the combined voting power of the surviving corporation&#146;s then outstanding
               securities ordinarily having the right to vote at elections of directors
               (regardless of any approval by the Continuing Directors); or </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               after the date the Company&#146;s securities are first sold in a registered
               public offering, the Continuing Directors cease for any reason to constitute at
               least a majority of the Board. </FONT></P></TD>
               </TR>
               </TABLE>
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               <BR>

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</font>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.2
<U>Continuing Directors</U>. For purposes of this Section 10, &#147;<B>Continuing
Directors</B>&#148; of the Company will mean any individuals who are members of the Board
on the effective date of the Plan and any individual who subsequently becomes a member of
the Board whose election, or nomination for election by the Company&#146;s shareholders,
was approved by a vote of at least a majority of the Continuing Directors (either by
specific vote or by approval of the Company&#146;s proxy statement in which such
individual is named as a nominee for director without objection to such nomination). </FONT>
</TD>
</TR>
</TABLE>
<font size="2">
<BR>

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</font>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.3
<U>Acceleration of Incentives</U>. Without limiting the authority of the Committee under
the Plan, if a Change in Control of the Company occurs whereby the acquiring entity or
successor to the Company does not assume the Incentives or replace them with substantially
equivalent incentive awards, then, unless otherwise provided by the Committee in its sole
discretion in the agreement evidencing an Incentive at the time of grant, then as of the
date of the Change of Control (a) all outstanding options and SARs will vest and will
become immediately exercisable in full and will remain exercisable for the remainder of
their terms, regardless of whether the participant to whom such options or SARs have been
granted remains in the employ or service of the Company or any subsidiary of the Company
or any acquiring entity or successor to the Company; (b) the restrictions on all shares of
restricted stock awards shall lapse immediately; and (c) all performance shares shall be
deemed to be met and payment made immediately. </FONT>
</TD>
</TR>
</TABLE>
<font size="2">
<BR>

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</font>

<hr STYLE="page-break-after:always" color="#000000" size="0">

<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.4
<U>Cash Payment for Options</U>. If a Change in Control of the Company occurs, then the
Committee, if approved by the Committee in its sole discretion either in an agreement
evidencing an option at the time of grant or at any time after the grant of an option, and
without the consent of any participant affected thereby, may determine that: </FONT>
</TD>
</TR>
</TABLE>
<font size="2">
<BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               some or all participants holding outstanding options will receive, with respect
               to some or all of the shares of Common Stock subject to such options, as of the
               effective date of any such Change in Control of the Company, cash in an amount
               equal to the excess of the Fair Market Value of such shares immediately prior to
               the effective date of such Change in Control of the Company over the exercise
               price per share of such options; and </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               any options as to which, as of the effective date of any such Change in Control,
               the Fair Market Value of the shares of Common Stock subject to such options is
               less than or equal to the exercise price per share of such options, shall
               terminate as of the effective date of any such Change in Control. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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</font>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
If
the Committee makes a determination as set forth in subparagraph (a) of this Section 10.4,
then as of the effective date of any such Change in Control of the Company such options
will terminate as to such shares and the participants formerly holding such options will
only have the right to receive such cash payment(s). If the Committee makes a
determination as set forth in subparagraph (b) of this Section 10.4, then as of the
effective date of any such Change in Control of the Company such options will terminate,
become void and expire as to all unexercised shares of Common Stock subject to such
options on such date, and the participants formerly holding such options will have no
further rights with respect to such options. </FONT></TD>
</TR>
</TABLE>
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<BR>

<!-- MARKER FORMAT-SHEET="Para (List) Indent" FSL="Default" -->
     </font><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <U>General</U>. <br>
&nbsp;</FONT><!-- MARKER FORMAT-SHEET="Para (List) Indent Level 1" FSL="Default" --><TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Effective Date</U>. The Plan will become effective upon approval by the
               Company&#146;s board of directors. </FONT></P></TD>
               </TR>
               </TABLE>
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               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Duration</U>. The Plan shall remain in effect until all Incentives granted
               under the Plan have either been satisfied by the issuance of shares of Common
               Stock or the payment of cash or been terminated under the terms of the Plan and
               all restrictions imposed on shares of Common Stock in connection with their
               issuance under the Plan have lapsed. No Incentives may be granted under the Plan
               after the tenth anniversary of the date the Plan is approved by the shareholders
               of the Company. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Non-transferability of Incentives</U>. Except, in the event of the
               holder&#146;s death, by will or the laws of descent and distribution to the
               limited extent provided in the Plan or the Incentive, unless approved by the
               Committee, no stock option, SAR, restricted stock or performance award may be
               transferred, pledged or assigned by the holder thereof, either voluntarily or
               involuntarily, directly or indirectly, by operation of law or otherwise, and the
               Company shall not be required to recognize any attempted assignment of such
               rights by any participant. During a participant&#146;s lifetime, an Incentive
               may be exercised only by him or her or by his or her guardian or legal
               representative. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>

<hr STYLE="page-break-after:always" color="#000000" size="0">

          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Effect of Termination or Death</U>. In the event that a participant ceases to
               be an employee of or consultant to the Company, or the participants other
               service with the Company is terminated, for any reason, including death, any
               Incentives may be exercised or shall expire at such times as may be determined
               by the Committee in its sole discretion in the agreement evidencing an
               Incentive. Notwithstanding the other provisions of this Section&nbsp;10.4, upon
               a participant&#146;s termination of employment or other service with the Company
               and all subsidiaries, the Committee may, in its sole discretion (which may be
               exercised at any time on or after the date of grant, including following such
               termination), cause options and SARs (or any part thereof) then held by such
               participant to become or continue to become exercisable and/or remain
               exercisable following such termination of employment or service and Restricted
               Stock Awards, Performance Shares and Stock Awards then held by such participant
               to vest and/or continue to vest or become free of transfer restrictions, as the
               case may be, following such termination of employment or service, in each case
               in the manner determined by the Committee; provided, however, that no Incentive
               may remain exercisable or continue to vest beyond its expiration date. Any
               Incentive Stock Option that remains unexercised more than one (1) year following
               termination of employment by reason of death or disability or more than three
               (3) months following termination for any reason other than death or disability
               will thereafter be deemed to be a Non-Statutory Stock Option. </FONT></P></TD>
               </TR>
               </TABLE>
               &nbsp;<!-- MARKER FORMAT-SHEET="Para (List) Indent Level 1" FSL="Default" --><TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Additional Conditions</U>. Notwithstanding anything in this Plan to the
               contrary: (a) the Company may, if it shall determine it necessary or desirable
               for any reason, at the time of award of any Incentive or the issuance of any
               shares of Common Stock pursuant to any Incentive, require the recipient of the
               Incentive, as a condition to the receipt thereof or to the receipt of shares of
               Common Stock issued pursuant thereto, to deliver to the Company a written
               representation of present intention to acquire the Incentive or the shares of
               Common Stock issued pursuant thereto for his or her own account for investment
               and not for distribution; and (b) if at any time the Company further determines,
               in its sole discretion, that the listing, registration or qualification (or any
               updating of any such document) of any Incentive or the shares of Common Stock
               issuable pursuant thereto is necessary on any securities exchange or under any
               federal or state securities or blue sky law, or that the consent or approval of
               any governmental regulatory body is necessary or desirable as a condition of, or
               in connection with the award of any Incentive, the issuance of shares of Common
               Stock pursuant thereto, or the removal of any restrictions imposed on such
               shares, such Incentive shall not be awarded or such shares of Common Stock shall
               not be issued or such restrictions shall not be removed, as the case may be, in
               whole or in part, unless such listing, registration, qualification, consent or
               approval shall have been effected or obtained free of any conditions not
               acceptable to the Company. Notwithstanding any other provision of the Plan or
               any agreements entered into pursuant to the Plan, the Company will not be
               required to issue any shares of Common Stock under this Plan, and a participant
               may not sell, assign, transfer or otherwise dispose of shares of Common Stock
               issued pursuant to any Incentives granted under the Plan, unless (a)&nbsp;there
               is in effect with respect to such shares a registration statement under the
               Securities Act of 1933, as amended (the &#147;<B>Securities Act</B>&#148;), and
               any applicable state or foreign securities laws or an exemption from such
               registration under the Securities Act and applicable state or foreign securities
               laws, and (b)&nbsp;there has been obtained any other consent, approval or permit
               from any other regulatory body which the Committee, in its sole discretion,
               deems necessary or advisable. The Company may condition such issuance, sale or
               transfer upon the receipt of any representations or agreements from the parties
               involved, and the placement of any legends on certificates representing shares
               of Common Stock, as may be deemed necessary or advisable by the Company in order
               to comply with such securities law or other restrictions. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>

<hr STYLE="page-break-after:always" color="#000000" size="0">

          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Adjustment</U>. In the event of any merger, consolidation or reorganization
               of the Company with any other corporation or corporations, there shall be
               substituted for each of the shares of Common Stock then subject to the Plan,
               including shares subject to restrictions, options, or achievement of performance
               share objectives, the number and kind of shares of stock or other securities to
               which the holders of the shares of Common Stock will be entitled pursuant to the
               transaction. In the event of any recapitalization, reclassification, stock
               dividend, stock split, combination of shares or other similar change in the
               corporate structure of the Company or shares of the Company, the exercise price
               of an outstanding Incentive and the number of shares of Common Stock then
               subject to the Plan, including shares subject to restrictions, options or
               achievements of performance shares, shall be adjusted in proportion to the
               change in outstanding shares of Common Stock in order to prevent dilution or
               enlargement of the rights of the participants. In the event of any such
               adjustments, the purchase price of any option, the performance objectives of any
               Incentive, and the shares of Common Stock issuable pursuant to any Incentive
               shall be adjusted as and to the extent appropriate, in the discretion of the
               Committee, to provide participants with the same relative rights before and
               after such adjustment. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Incentive Plans and Agreements</U>. Except in the case of stock awards or
               cash awards, the terms of each Incentive shall be stated in a plan or agreement
               approved by the Committee. The Committee may also determine to enter into
               agreements with holders of options to reclassify or convert certain outstanding
               options, within the terms of the Plan, as Incentive Stock Options or as
               non-statutory stock options and in order to eliminate SARs with respect to all
               or part of such options and any other previously issued options. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Withholding</U>. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               The Company shall have the right to (i) withhold and deduct from any payments
               made under the Plan or from future wages of the participant (or from other
               amounts that may be due and owing to the participant from the Company or a
               subsidiary of the Company), or make other arrangements for the collection of,
               all legally required amounts necessary to satisfy any and all foreign, federal,
               state and local withholding and employment-related tax requirements attributable
               to an Incentive, or (ii) require the participant promptly to remit the amount of
               such withholding to the Company before taking any action, including issuing any
               shares of Common Stock, with respect to an Incentive. At any time when a
               participant is required to pay to the Company an amount required to be withheld
               under applicable income tax laws in connection with a distribution of Common
               Stock or upon exercise of an option or SAR, the participant may satisfy this
               obligation in whole or in part by electing (the &#147;<B>Election</B>&#148;) to
               have the Company withhold from the distribution shares of Common Stock having a
               value up to the amount required to be withheld. The value of the shares to be
               withheld shall be based on the Fair Market Value of the Common Stock on the date
               that the amount of tax to be withheld shall be determined (&#147;<B>Tax Date</B>&#148;). </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>

<hr STYLE="page-break-after:always" color="#000000" size="0">

          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               Each Election must be made prior to the Tax Date. The Committee may disapprove
               of any Election, may suspend or terminate the right to make Elections, or may
               provide with respect to any Incentive that the right to make Elections shall not
               apply to such Incentive. An Election is irrevocable. </FONT></P></TD>
               </TR>
               </TABLE>
               &nbsp;<!-- MARKER FORMAT-SHEET="Para (List) Indent Level 3" FSL="Default" --><TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=9%></TD>
               <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               If a participant is an officer or director of the Company within the meaning of
               Section 16 of the Exchange Act, then an Election is subject to the following
               additional restrictions: </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%></TD>
               <TD WIDTH=88%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               No Election shall be effective for a Tax Date which occurs within six months of
               the grant or exercise of the award, except that this limitation shall not apply
               in the event death or disability of the participant occurs prior to the
               expiration of the six-month period. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=12%></TD>
               <TD WIDTH=88%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               The Election must be made either six months prior to the Tax Date or must be
               made during a period beginning on the third business day following the date of
               release for publication of the Company&#146;s quarterly or annual summary
               statements of sales and earnings and ending on the twelfth business day
               following such date. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>No Continued Employment, Engagement or Right to Corporate Assets</U>. No
               participant under the Plan shall have any right, because of his or her
               participation, to continue in the employ of the Company for any period of time
               or to any right to continue his or her present or any other rate of
               compensation. Nothing contained in the Plan shall be construed as giving an
               employee, a consultant, such persons&#146; beneficiaries or any other person any
               equity or interests of any kind in the assets of the Company or creating a trust
               of any kind or a fiduciary relationship of any kind between the Company and any
               such person. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH=3%></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Deferral Permitted</U>. Payment of cash or distribution of any shares of
               Common Stock to which a participant is entitled under any Incentive shall be
               made as provided in the Incentive. Payment may be deferred at the option of the
               participant if provided in the Incentive. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>

<hr STYLE="page-break-after:always" color="#000000" size="0">

          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH="5%"></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Amendment of the Plan</U>. The Board may amend, suspend or discontinue the
               Plan at any time; provided, however, that no amendments to the Plan will be
               effective without approval of the shareholders of the Company if shareholder
               approval of the amendment is then required pursuant to Section 422 of the Code
               or the rules of any stock exchange or Nasdaq or similar regulatory body. No
               termination, suspension or amendment of the Plan may adversely affect any
               outstanding Incentive without the consent of the affected participant; provided,
               however, that this sentence will not impair the right of the Committee to take
               whatever action it deems appropriate under Section 11.6 of the Plan. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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          </font>
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
               <TR VALIGN=TOP>
               <TD ALIGN=RIGHT WIDTH="5%"></TD>
               <TD WIDTH=97%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;11.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               <U>Definition of Fair Market Value</U>. For purposes of this Plan, the
               &#147;<B>Fair Market Value</B>&#148; of a share of Common Stock at a specified
               date shall, unless otherwise expressly provided in this Plan, be the amount
               which the Committee or the board of directors of the Company determines in good
               faith in the exercise of its reasonable discretion to be 100% of the fair market
               value of such a share as of the date in question; provided, however, that
               notwithstanding the foregoing, if such shares are listed on a U.S. securities
               exchange or are quoted on the Nasdaq National Market System or Nasdaq SmallCap
               Stock Market <B>(&#147;Nasdaq</B>&#148;), then Fair Market Value shall be
               determined by reference to the last sale price of a share of Common Stock on
               such U.S. securities exchange or Nasdaq on the applicable date. If such U.S.
               securities exchange or Nasdaq is closed for trading on such date, or if the
               Common Stock does not trade on such date, then the last sale price used shall be
               the one on the date the Common Stock last traded on such U.S. securities
               exchange or Nasdaq. </FONT></P></TD>
               </TR>
               </TABLE>
               <font size="2">
               <BR>

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</font>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13
<U>Breach of Confidentiality, Assignment of Inventions, or Non-Compete Agreements</U>.
Notwithstanding anything in the Plan to the contrary, in the event that a participant
materially breaches the terms of any confidentiality, assignment of inventions, or
non-compete agreement entered into with the Company or any subsidiary of the Company,
whether such breach occurs before or after termination of such participant&#146;s
employment or other service with the Company or any subsidiary, the Committee in its sole
discretion may immediately terminate all rights of the participant under the Plan and any
agreements evidencing an Incentive then held by the participant without notice of any
kind. </FONT>
</TD>
</TR>
</TABLE>
<font size="2">
<BR>

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</font>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.13
<U>Governing Law</U>. The validity, construction, interpretation, administration and
effect of the Plan and any rules, regulations and actions relating to the Plan will be
governed by and construed exclusively in accordance with the laws of the State of
Minnesota, notwithstanding the conflicts of laws principles of any jurisdictions. </FONT>
</TD>
</TR>
</TABLE>
<font size="2">
<BR>

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</font>
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.14
<U>Successors and Assigns</U>. The Plan will be binding upon and inure to the benefit of
the successors and permitted assigns of the Company and the participants in the Plan. </FONT>
</TD>
</TR>
</TABLE>
<font size="2">
<BR></font><!-- MARKER FORMAT-SHEET="Head Left" FSL="Default" -->
<A NAME=A001><font size="2"></font></A>
<P ALIGN=RIGHT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 10.5 </FONT>
</b></P>

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<A NAME=A003><font size="2"></font></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>SUPPLEMENT TO
EMPLOYMENT AGREEMENT </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This<B>
SUPPLEMENT, </B>dated October 1, 2003<B> </B>(the &#147;Supplement&#148;), to the<B>
</B>Employment Agreement (the &#147;Agreement&#148;) dated this November 8, 2002, between
<B>CHIRAL QUEST, INC., </B>a Minnesota corporation (together with its successors and
assigns referred to herein as the &#147;Company&#148;), with principal executive offices
located at 787 Seventh Avenue, New York, NY 10019 and <B>ALAN D. ROTH,</B> residing at 22
Aubrey House, Maida Avenue, London W2 1TQ, UK (the &#147;Executive&#148;), is intended to
amend the Agreement as described herein . &nbsp; </FONT></P>

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<A NAME=A004><font size="2"></font></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>W I T N E S S E T H </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS,</B>
Executive desires to continue to be employed by the Company, and the Company desires to
continue to employ Executive, under the terms and conditions of the Agreement, as modified
hereby. </FONT></P>

<font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>NOW, THEREFORE,</b>  in consideration of the mutual covenants and undertakings  herein contained,  the parties
agree that

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     <P><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1.
          <U>Supplement.</U> This Supplement amends and supplements the Agreement as
          indicated herein and only as specifically indicated herein. Capitalized terms
          used, but not defined, in this Supplement shall have the meanings given to them
          in the Agreement unless the context otherwise requires. </FONT></P>

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<P><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2. <U>Amendment</U>.
  A new Section 3.5 shall be added to Article 3 of the Agreement as follows: &nbsp;</FONT></P>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2> <B>3.5</B> <B><U>Incentive Bonus.</U></B> </FONT></P>

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          <TD ALIGN=RIGHT WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
          <TD WIDTH=88%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Executive shall be paid a bonus of $3,500 upon the Company&#146;s execution of a
          commercial contract with a <SUP>3rd</SUP> party in which the Company will
          receive gross revenues in excess of $50,000. It is hereby acknowledged by the
          Company that the milestone referred to in this 3.5(a) has been achieved. </FONT></P></TD>
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          <TD ALIGN=RIGHT WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
          <TD WIDTH=88%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Executive shall be paid a one time bonus of $160,073 promptly following a period
          of five consecutive trading days in which the bid price of the Company&#146;s
          common stock closes at or above $5.00 per share (subject to adjustment for stock
          splits, re-organizations, share issues and the like) on the OTC Bulletin Board,
          AMEX, or NASDAQ or another nationally recognized exchange. </FONT></P></TD>
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          <TD ALIGN=RIGHT WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
          <TD WIDTH=88%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Executive shall be paid a one time bonus of $160,073 promptly following a period
          of five consecutive trading days in which the bid price of the Company&#146;s
          common stock closes at or above $8.00 per share (subject to adjustment for stock
          splits, re-organizations, share issues and the like) on the OTC Bulletin Board,
          AMEX, or NASDAQ or another nationally recognized exchange. </FONT></P></TD>
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<p align="right"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; (d)</FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH="85%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Additionally, </FONT>

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the above-mentioned bonuses in (b) and (c) shall be payable to Executive in full in the
event of a Change of Control as defined in Section 7.4 of the Agreement, provided,
however, (i) such bonuses have not already been remitted to the Executive and (ii) the per
share price at which the Change of Control is conducted is equal to or in excess of each
per share price indicated in (b) and (c). By way of example, for clarification purposes,
if the Company is sold for $6.00 per share, the Executive shall be entitled to the bonus
in (b), but not in (c), if the Executive has not already been paid the bonus in (b). If
the Company is sold for less than $5.00 per share, the Executive shall not be entitled to
any bonus in (b) or (c), and if the Company is sold for in excess of $8.00 per share, the
Executive shall be entitled to each bonus described in (b) and (c) (provided, in both
cases, Executive has not already been paid such bonus). </FONT>

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          <TD ALIGN=RIGHT WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(e) </FONT></TD>
          <TD ALIGN=LEFT WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
          <TD WIDTH=88%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Executive shall have no right to receive the bonuses specified in subparagraphs
          (b), (c), or (d) above if prior to the time of the relevant event above,
          Executive&#146;s employment is terminated by Executive or Company, voluntarily
          or involuntarily, with or without cause. </FONT></P></TD>
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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.
          <U>Miscellaneous</U><B>.</B> Except as amended or supplemented hereby,
          the remaining terms and conditions of the Agreement are hereby confirmed by the
          parties. This Supplement and the Agreement, when read together, sets forth the
          entire agreement and understanding of the parties relating to the subject matter
          hereof, and supersedes all prior agreements, arrangements and understandings,
          written or oral, relating to the subject matter hereof. No representation,
          promise or inducement has been made by either party that is not embodied in this
          Supplement or the Agreement, and neither party shall be bound by or liable for
          any alleged representation, promise or inducement not so set forth. This
          Supplement may be executed in counterparts, each of which shall be deemed an
          original, and all of which taken together shall constitute one instrument. </FONT></P>

     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>IN
WITNESS WHEREOF,</B> the parties have executed this Supplement as of the date first above
written. &nbsp; </FONT></P>

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    <td><b><font size="2">CHIRAL QUEST, INC.</font></b></td>
    <td><b><font size="2">&nbsp;&nbsp;</font></b></td>
    <td><b><font size="2">&nbsp;EXECUTIVE</font></b></td>
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By: <u>/s/ Stephen C. Rocamboli&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
    <td><br>
    <font size="2">By: <u>/s/ Alan D. Roth&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></td>
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    <td colSpan="2"><font size="2">Name:    Stephen Rocamboli &nbsp;<br>
    Title: Interim Chairman of the Board</font></td>
    <td><font size="2">Alan D. Roth, Ph. D.</font></td>
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<P>&nbsp;</P>

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