Document:

<PAGE>

                                                                   Exhibit 10.20

                          STOCK OPTION GRANT PROGRAM
                                      FOR
                        NONEMPLOYEE DIRECTORS UNDER THE
                              IMMUNEX CORPORATION
                  AMENDED AND RESTATED 1999 STOCK OPTION PLAN

     The following provisions set forth the terms of the stock option grant
program (the "Program") for nonemployee directors of Immunex Corporation (the
"Company") under the Company's Amended and Restated 1999 Stock Option Plan (the
"Plan"). The following terms are intended to supplement, not alter or change,
the provisions of the Plan, and in the event of any inconsistency between the
terms contained herein and in the Plan, the Plan shall govern. All capitalized
terms that are not defined herein shall be as defined in the Plan.

     1.   Administration

     The Board shall be the Plan Administrator of the Program. Subject to the
terms of the Program, the Plan Administrator shall have the power to construe
the provisions of the Program, to determine all questions arising hereunder and
to adopt and amend such rules and regulations for the administration of the
Program as it may deem desirable.

     2.   Eligibility

     Each member of the Board elected or appointed who is not otherwise an
employee of the Company, any Parent or Subsidiary, or a director appointed by
American Cyanamid Company or American Home Products Corporation pursuant to the
Amended and Restated Governance Agreement among American Cyanamid Company,
Lederle Oncology Corporation and Immunex Corporation dated as of December 15,
1992 (an "Eligible Director") shall be eligible to receive Initial Grants and
Annual Grants under the Program.

     3.   Initial Grants

     Subject to Sections 9 and 12 hereof, each Eligible Director who is elected
or appointed for the first time after the date of adoption of the Program shall
automatically receive the grant of an Option to purchase 30,000 shares on the
day such Eligible Director is initially elected or appointed (an "Initial
Grant").

     4.       Annual Grants

     Subject to Sections 9 and 12 hereof, each Eligible Director continuing
service as an Eligible Director immediately following an annual meeting of
shareholders shall automatically receive an Option to purchase 20,000 shares
immediately following each year's annual meeting of shareholders as an annual
grant (an "Annual Grant"); provided, however, that an Eligible
<PAGE>

Director who received an Initial Grant on such date shall not receive an Annual
Grant until the next annual meeting.

     5.   Option Exercise Price

     The exercise price of an Option shall be the Fair Market Value of the
Common Stock on the effective date of an Initial or Annual Grant.

     6.   Vesting and Exercisability

     Each Option granted to an Eligible Director shall vest and become
exercisable in accordance with the following vesting schedule:

<TABLE>
<CAPTION>

      Period of Eligible Director's Continuous
  Service as a  Director With the Company From                         Portion of Total Option Which Is
               the Grant Date                                              Vested  and Exercisable
---------------------------------------------------             -------------------------------------------
<S>                                                               <C>
             Less than twelve months                                                0%

                  Twelve months                                                    20%

                Twenty-four months                                                 40%

                Thirty-six months                                                  60%

                Forty-eight months                                                 80%

             Sixty months or greater                                              100%
</TABLE>

         Notwithstanding the foregoing, an Option granted under the Program
shall become 100% vested and exercisable on the date of termination of an
Eligible Director's service as a member of the Board on account of the Eligible
Director's death, provided that the Eligible Director has served as a member of
the Board for at least two years at the date of such Eligible Director's death.

         7.    Manner of Option Exercise

         An Option shall be exercised by giving the required notice to the
Company, stating the number of shares of Common Stock with respect to which the
Option is being exercised, accompanied by payment in full for such Common Stock,
which payment may be in any combination of (a) cash or check, (b) tendering
(either actually or, if and so long as the Common Stock is registered under
Section 12(b) or 12(g) of the Exchange Act, by attestation) shares of Common
Stock already owned by the Eligible Director for at least six months (or any
minimum period necessary to avoid a charge to the Company's earnings for
financial reporting purposes) having a Fair Market Value on the day prior to the
exercise date equal to the aggregate Option exercise price; or (c) if and so
long as the Common Stock is registered under the Exchange Act, by delivery of a
properly executed exercise notice, together with irrevocable instructions to a
broker, to promptly deliver to the Company the amount of sale or loan proceeds
to pay the

                                      -2-
<PAGE>

Option exercise price and the Company to deliver the certificates for such
purchased shares directly to such broker, all in accordance with the regulations
of the Federal Reserve Board.

         8.     Term of Options

         Each Option shall expire ten years from the Grant Date thereof, but
shall be subject to earlier termination as follows:

         (a) In the event that an Eligible Director ceases to be a director of
the Company for any reason other than the death of the Eligible Director, the
unvested portion of any Option granted to such Eligible Director shall terminate
immediately and the vested portion of the Option may be exercised by the
Eligible Director only within three months after the date he or she ceases to be
a director of the Company or prior to the date on which the Option expires by
its terms, whichever is earlier.

         (b) In the event of the termination of an Eligible Director's service
as a member of the Board on account of the Eligible Director's death, the vested
portion of any Option granted to such Eligible Director may be exercised within
one year after the date of death of the Eligible Director or prior to the date
on which the Option expires by its terms, whichever is earlier, by the personal
representative of the Eligible Director's estate, the person(s) to whom the
Eligible Director's rights under the Option have passed by will or the
applicable laws of descent and distribution or the beneficiary designated
pursuant to the Plan.

         (c) In the event of the death of an Eligible Director subsequent to the
termination of an Eligible Director's services, but prior to the expiration of
the three-month exercise period referred to in Section 8(a) above, the vested
portion of the Option at the time of the termination of the Eligible Directors
services may be exercised within one year after the date of the termination of
the Eligible Director's services or prior to the date on which the Option
expires by its terms, whichever is earlier, by the personal representative of
the Eligible Director's estate, the person(s) to whom the Eligible Director's
rights under the Option have passed by will or the applicable laws of descent
and distribution or the beneficiary designated pursuant to the Plan.

         9.       Adjustments

         The number and class of shares covered by each outstanding Option and
the exercise price per share thereof (but not the total price) shall all be
proportionately adjusted for any stock dividends, stock splits,
recapitalizations, combinations or exchanges of shares, split-ups, split-offs,
spinoffs, or other similar changes in capitalization. Notwithstanding the
foregoing, if an automatic grant occurs within ninety days following any such
change in capitalization, the aggregate number and class of shares subject to
such automatic grant shall be proportionately adjusted to be the same number and
class of shares that would be subject to the automatic grant had it been
outstanding immediately prior to the date of such change in capitalization. Upon
the effective date of a dissolution or liquidation of the Company, or of a
reorganization, merger or consolidation of the Company with one or more
corporations that results in more than 70% of the outstanding voting shares of
the Company being owned by one or more affiliated corporations or other
affiliated entities, or of a transfer of all or substantially all the assets or
more than 70% of the then outstanding shares of the Company to another
corporation or other entity, the Program

                                      -3-
<PAGE>

and all Options granted hereunder shall terminate. In the event of such
dissolution, liquidation, reorganization, merger, consolidation, transfer of
assets or transfer of stock, each Eligible Director shall be entitled, for a
period of twenty days prior to the effective date of such transaction, to
purchase the full number of shares under his or her Option which he or she
otherwise would have been entitled to purchase during the remaining term of such
Option.

         Adjustments under this Section 9 shall be made by the Plan
Administrator, whose determination shall be final. In the event of any
adjustment in the number of shares covered by any Option, any fractional shares
resulting from such adjustment shall be disregarded and each such Option shall
cover only the number of full shares resulting from such adjustment.

         10.      Compliance with Rule 16b-3

         It is the intention of the Company that the Program comply in all
respects with the requirements for a "formula plan" within the meaning
attributed to that term for purposes of Rule 16b-3 promulgated under Section
16(b) of the Exchange Act. Therefore, if any provision is later found not to be
in compliance with such requirements, that provision shall be deemed null and
void, and in all events the Program shall be construed in favor of its meeeting
such requirements.

         11.      Amendment, Suspension or Termination

         The Board may amend the provisions contained in the Program in such
respects as it deems advisable. The Board may also suspend or terminate the
Program. Any such amendment, suspension or termination shall not, without the
consent of the Eligible Director, impair or diminish any rights of an Eligible
Director under an Option.

         Provisions of the Plan (including any amendments) that were not
discussed above, to the extent applicable to Eligible Directors, shall continue
to govern the terms and conditions of Options granted to Eligible Directors.

         12.      Effective Date

         The Program shall become effective on the day the Board approves the
adoption of the Program.

         Adopted by the Board on February 8, 2001.

                                      -4-<PAGE>

                                                                  Exhibit 10.1.1

                              POPE & TALBOT, INC.
                          EMPLOYEE STOCK OPTION PLAN
                     (As Amended as of February 14, 2001)

     I.   PURPOSES OF THE PLAN
          --------------------

          This Employee Stock Option Plan (the "Plan") is intended to promote
the interests of Pope & Talbot, Inc. (the "Corporation") and its subsidiaries by
providing a method whereby employees of the Corporation and its subsidiaries who
are primarily responsible for the management, growth and success of the business
may be offered incentives and rewards which will encourage them to continue in
the employ of the Corporation or its subsidiaries.

     II.  ADMINISTRATION OF THE PLAN
          --------------------------

          (a)  The Plan shall be administered by the Human Resources Committee
("Committee") appointed from time to time by the Corporation's Board of
Directors (the "Board").  The Committee shall consist of two (2) or more Board
members who shall serve for such term as the Board may determine and shall be
subject to removal by the Board at any time.

          (b)  The Committee shall have full authority to administer the Plan,
including authority to interpret and construe any provision of the Plan and to
adopt such rules and regulations for administering the Plan as it may deem
necessary.  Decisions of the Committee shall be final and binding on all persons
who have an interest in the Plan.

     III. STOCK SUBJECT TO THE PLAN
          -------------------------

          (a)  The stock which is to be made the subject of the options granted
under the Plan shall be the Corporation's authorized but unissued or reacquired
common stock ("Common Stock").  In connection with the issuance of shares under
the Plan, the Corporation may repurchase shares of Common Stock on the open
market or otherwise.  The total number of shares issuable in the aggregate under
the Plan and the Corporation's 1996 Non-Employee Director Stock Option Plan (the
"Director Plan," and together with the Plan, the "Plans") shall not exceed
2,000,000 shares.

          (b)  The number of shares of Common Stock available for issuance under
the Plans shall be subject to adjustment in accordance with the following
guidelines:

               (1)  If any outstanding option granted under the Plans expires or
is terminated or cancelled for any reason prior to exercise in full, then the
unissued shares of Common Stock subject to the unexercised portion of such
option may become the subject of subsequent stock option grants under the Plans.

               (2)  Should the exercise price of an outstanding option under the
Plans be paid with shares of Common Stock or should shares of Common Stock
otherwise issuable under the Plans be withheld by the Corporation in
satisfaction of the withholding taxes incurred in connection with the exercise
of an outstanding option under the Plans, then the number of shares of Common
Stock available for issuance under the Plans shall be reduced by the gross

                                       1
<PAGE>

number of shares for which the option is exercised, and not by the net number of
shares of Common Stock actually issued to the option holder.

          (c)  In no event shall any one participant in the Plan receive stock
options for more than 200,000 shares of Common Stock in the aggregate per
calendar year.

          (d)  In the event that any change is made to the Common Stock issuable
under the Plan or subject to any outstanding stock option granted under the Plan
(whether by reason of (I) any merger, consolidation or other reorganization or
(II) any stock dividend, stock split, recapitalization, combination of shares,
exchange of shares or other change in corporate structure effected without the
Corporation's receipt of consideration), appropriate adjustments shall be made
to (i) the maximum number and/or class of securities issuable under the Plans,
(ii) the maximum number and/or class of securities for which stock options may
be granted under the Plan to any one participant per calendar year, and (iii)
the number and/or class of securities and price per share in effect under each
outstanding stock option.

     IV.  SELECTION OF OPTIONEES
          ----------------------

          The persons who shall be eligible to receive options under the Plan
shall be such key employees of the Corporation and its subsidiaries (including
officers, whether or not they are directors) as the Committee shall from time to
time select.  Non-employee members of the Board shall not be eligible to
participate in this Plan.

     V.   TERMS AND CONDITIONS OF STOCK OPTIONS
          -------------------------------------

          The Committee shall have the sole and exclusive authority to grant to
the selected key employees one or more stock options under the Plan.  The
Committee shall have full authority to determine whether each such granted
option is to be an incentive stock option ("Incentive Option") satisfying the
requirements of Section 422 of the Internal Revenue Code or a non-qualified
option not intended to meet such requirements.  Each option granted under the
Plan shall be evidenced by an instrument in such form as the Committee may from
time to time approve.  Such instrument, however, shall conform to the terms and
conditions specified below.  Each instrument evidencing an Incentive Option
shall, in addition, be subject to the applicable provisions of Section VI.

          (a)  Option Price.  The option price per share shall be fixed by the
               ------------
Committee, but in no event shall the option price be less than eighty-five
percent (85%) of the fair market value per share of Common Stock on the date the
option is granted.  For purposes of the preceding sentence (and for all other
valuation purposes under the Plan), the fair market value per share of Common
Stock shall be its closing price, as officially quoted on the New York Stock
Exchange Composite-Tape (or any similar successor quotation system), on the day
immediately prior to the date in question.  If there is no quotation available
for such day, then the closing price on the next preceding day for which there
does exist such a quotation shall be determinative of fair market value.

                                       2
<PAGE>

          (b)  Number of Shares, Term and Exercise.
               -----------------------------------

               (1)  Each option granted under the Plan shall be exercisable on
such date or dates, during such period or periods and for such number of shares
as shall be determined by the Committee and set forth in the instrument
evidencing such option. No option granted under the Plan, however, shall become
exercisable during the first six months of the option term, except to the extent
the instrument evidencing such option provides for exercisability upon the
optionee's death or disability; nor shall any option have an expiration date
which is more than 10 years after the grant date.

               (2)  Any option granted under the Plan may be exercised upon
written notice to the Corporation at any time prior to the expiration or sooner
termination of the option term. The option price for the number of shares of
Common Stock for which the option is exercised shall become immediately due and
payable, and no certificates for the shares shall be issued until payment has
been made in accordance with subparagraph (3) below.

               (3)  The option price shall be payable in one or more of the
following alternative forms specified in the instrument evidencing the option:

                    (i)    full payment in cash or cash equivalents;

                    (ii)   full payment in shares of Common Stock held for the
requisite period necessary to avoid a charge to the Corporation's earnings and
valued at fair market value on the Exercise Date (as such term is defined
below);

                    (iii)  full payment through a combination of shares of
Common Stock held for the requisite period necessary to avoid a charge to the
Corporation's earnings and valued at fair market value on the Exercise Date and
cash or cash equivalents; or

                    (iv)   full payment effected through a broker-dealer sale
and remittance procedure pursuant to which the optionee (A) shall provide
irrevocable written instructions to the designated brokerage firm to effect the
immediate sale of the purchased shares and to remit to the Corporation, out of
the sale proceeds available on the settlement date, an amount equal to the
aggregate option price payable for the purchased shares plus all applicable
Federal and State income and employment taxes required to be withheld by the
Corporation in connection with such purchase and sale and (B) shall provide
written directives to the Corporation to deliver the certificates for the
purchased shares directly to such brokerage firm in order to complete the sale
transaction.

For purposes of this subparagraph (3), the Exercise Date shall be the date on
which written notice of the option exercise is delivered to the Corporation.
Except to the extent the sale and remittance procedure is utilized in connection
with the option exercise, payment of the option price for the purchased shares
must accompany the exercise notice.

          (c)  Termination of Employment.
               -------------------------

               (1)  Should an optionee cease to be an Employee of the
Corporation other than by reason of death or termination for gross and willful
misconduct, then each

                                       3
<PAGE>

outstanding option held by such optionee under the Plan shall not remain
exercisable for more than a twelve (12) month period (or such shorter period as
may be specified in the instrument evidencing such option) following the date of
such cessation of Employee status, except to the extent the Committee may
specifically provide otherwise pursuant to its authority under Section X below.
Under no circumstances, however, shall any such option be exercisable after the
specified expiration date of the option term. Each such option shall, during
such period of limited exercisability, be exercisable only to the extent of the
number of shares (if any) for which such option is exercisable on the date of
the optionee's cessation of Employee status.

               (2)  If the optionee's status as an Employee is terminated for
gross and willful misconduct, including (without limitation) the wrongful
appropriation of employer funds or the commission of a felony, then any
outstanding options granted such optionee under the Plan may be terminated by
the Committee as of the date of such misconduct.

               (3)  For purposes of the Plan, an individual shall be considered
to be an Employee of the Corporation for so long as such individual continues in
employment with the Corporation or one or more subsidiaries of the Corporation.
A subsidiary of the Corporation shall be any company (other than the
Corporation) in an unbroken chain of corporations beginning with the
Corporation, provided each of the companies in such unbroken chain (other than
the last company) owns, at the time of determination, stock possessing 50% or
more of the total combined voting power of all classes of stock in one other
company in such chain.

          (d)  Death of Optionee.  Any option under the Plan held by the
               -----------------
optionee on the date of his death may be exercised, to the extent of the number
of shares (if any) for which such option was exercisable on the date the
optionee ceased Employee status (less any option shares subsequently purchased
by the optionee prior to death), by the personal representative of the
optionee's estate or by the person or persons to whom the option is transferred
pursuant to the optionee's will or in accordance with the laws of descent and
distribution. Such option may be exercised at any time prior to the earlier of
(A) the specified expiration date of the option term or (B) the first
anniversary of the optionee's death. Upon the occurrence of the earlier event,
the option shall terminate and cease to be exercisable.

          (e)  Acceleration Upon Cessation of Employee Status.  The Committee
               ----------------------------------------------
shall have complete discretion, exercisable either at the time of the option
grant or at any time while the option remains outstanding, to provide with
respect to one or more options granted under the Plan that during the limited
period of exercisability following the optionee's cessation of Employee status
(as provided in Section V(c)(1) or Section V(d) above), the option may be
exercised not only with respect to the number of shares for which it is
exercisable at the time of such cessation of Employee status but also with
respect to one or more installments of purchasable shares for which the option
otherwise would have become exercisable had such cessation of Employee status
not occurred.

          (f)  Assignability.  No option granted under the Plan shall be
               -------------
assignable or transferable by the optionee other than by will or by the laws of
descent and distribution following the optionee's death, and during the
optionee's lifetime, the option shall be exercisable only by the optionee.

                                       4
<PAGE>

          (g)  Immediate Exercise of Option.  In the event that the Corporation
               ----------------------------
or its shareholders enter into an agreement to dispose of all or substantially
all of the assets or outstanding capital stock of the Corporation by means of a
sale, merger, reorganization or liquidation ("Corporate Transaction"), then each
option to acquire Common Stock at the time outstanding under the Plan shall
become exercisable, immediately prior to the consummation of such Corporate
Transaction, with respect to the full number of shares of Common Stock at the
time subject to such option; provided, however, that the exercisability as an
incentive stock option under the Federal tax laws of any accelerated option
shall be subject to the applicable dollar limitation of Section VI(b).  However,
an outstanding option shall not be so accelerated if the terms of the agreement
require as a prerequisite for the consummation of the Corporate Transaction that
such option is either to be assumed by the successor corporation or parent
thereof or to be replaced with a comparable option to purchase shares of capital
stock of the successor corporation or parent thereof.  The determination of such
comparability shall be made by the Board, and its determination shall be
conclusive and binding on all persons who have an interest in the Plan.
Immediately after the consummation of the Corporate Transaction, all outstanding
options (whether or not accelerated) shall expire and be of no further force or
effect whatsoever, unless assumed by the successor corporation or parent
thereof.

          (h)  Stockholder Rights.  No person shall have any rights as a
               ------------------
stockholder with respect to the shares of Common Stock purchasable under any
option granted under the Plan until he shall have exercised such option and paid
the exercise price for the purchased shares.

     VI.  INCENTIVE OPTIONS
          -----------------

          Incentive Options granted under the Plan shall be subject to the
additional terms and conditions specified below.  Options which are specifically
designated as "non-qualified options" or "non-statutory options" at the time of
grant shall not be subject to any of the terms and conditions specified below
and accordingly shall not be Incentive Options.

          (a)  Option Price.  The option price per share of the Common Stock
               ------------
subject to an Incentive Option shall in no event be less than one hundred
percent (100%) of the fair market value of a share of Common Stock on the date
of grant.

          (b)  Dollar Limitation.  The aggregate fair market value (determined
               -----------------
as of the respective date or dates of grant) of the Common Stock for which one
or more options granted to any Employee under this Plan (or any other option
plan of the Corporation or its parent or subsidiary corporations) may for the
first time become exercisable as incentive stock options under the Federal tax
laws during any one calendar year shall not exceed the sum of One Hundred
Thousand Dollars ($100,000) or such greater amount as may be permitted under
subsequent amendments to Section 422 of the Internal Revenue Code. To the extent
the Employee holds two or more options which become exercisable for the first
time in the same calendar year, the foregoing limitations or the exercisability
thereof as incentive stock options under the Federal tax laws shall be applied
on the basis of the order in which such options are granted. Should the number
of shares of Common Stock for which any Incentive Option first becomes
exercisable in any calendar year exceed the applicable One Hundred Thousand
Dollar ($100,000) limitation, then the option may nevertheless be exercised in
that calendar year for the excess number of shares as a non-qualified option
under the Federal tax laws.

                                       5
<PAGE>

           (c)  10% Shareholder.  If any individual to whom an Incentive Option
                ---------------
is to be granted pursuant to the provisions of the Plan is on the date of grant
the owner of stock (as determined under Section 424(d) of the Internal Revenue
Code) possessing more than 10% of the total combined voting power of all classes
of stock of the Corporation or any one of its subsidiaries, then the following
special provisions shall be applicable to the option granted to such individual:

                (1)  The option price per share of the Common Stock subject to
such Incentive Option shall not be less than one hundred and ten percent (110%)
of the fair market value of one share of Common Stock on the date of grant; and

                (2)  The option shall not have a term in excess of five (5)
years from the date of grant.

Except as modified by the preceding provisions of this paragraph VI, all the
provisions of the Plan shall be applicable to the Incentive Options granted
hereunder.

     VII.  EFFECTIVE DATE AND TERM OF PLAN
           -------------------------------

           (a)  The Plan initially became effective on the date it was adopted
by the Board, but before any options granted under the Plan could become
exercisable, the Plan had to be approved by the holders of at least a majority
of the Corporation's outstanding voting stock represented and voting at a duly-
held meeting at which a quorum was present, provided the shares voting for
approval also constituted at least a majority of the required quorum. If such
stockholder approval had not been obtained, then any options previously granted
under the Plan would have terminated and no further options would have been
granted. Subject to such limitation, the Committee was authorized to grant
options under the Plan at any time after the adoption of the Plan by the Board.

           (b)  Unless sooner terminated in accordance with Section VIII, the
Plan shall terminate upon the earlier of (i) December 31, 2002 or (ii) the date
upon which all the shares of Common Stock available for issuance under the Plans
shall have been issued pursuant to the exercise of options granted hereunder or
under the Director Plan. If the date of termination is determined under clause
(i) above, then any options outstanding on such date shall not be affected by
the termination of the Plan and shall continue to have force and effect in
accordance with the provisions of the instruments evidencing such options.

     VIII. AMENDMENT OR DISCONTINUANCE BY BOARD ACTION
           -------------------------------------------

           (a)  The Board may amend, suspend or discontinue the Plan in whole or
in part at any time; provided, however, that such action shall not adversely
affect rights and obligations with respect to options at the time outstanding
under the Plan.  In addition, no modification of the Plan by the Board shall
without the approval of the Corporation's stockholders (i) materially increase
the number of shares of Common Stock which may be issued under the Plans (unless
necessary to effect the adjustments required under Section III(d)), (ii)
materially increase the benefits accruing to participants under the Plan or
(iii) materially modify the eligibility requirements for the grant of options
under the Plan.

                                       6
<PAGE>

          (b)  Notwithstanding the provisions of Section VIII(a), the Board
hereby reserves the right to amend or modify the terms and provisions of the
Plan and of any outstanding options under the Plan to the extent necessary to
qualify any or all options under the Plan for such favorable Federal income tax
treatment as may be afforded employee stock options under Section 422 of the
Internal Revenue Code and regulations subsequently promulgated thereunder.

     IX.  CANCELLATION AND REGRANT
          ------------------------

          The Committee shall have the exclusive authority to effect, at any
time and from time to time, with the consent of the affected holders, the
cancellation of any or all outstanding options under the Plan and to grant in
substitution therefor new options under the Plan covering the same or different
numbers of shares of Common Stock but having an option price per share not less
than eighty-five percent (85%) of fair market value on the new grant date.

     X.   SPECIAL POWERS
          --------------

          In addition to the power and authority provided the Committee pursuant
to the foregoing provisions of the Plan, the Committee shall have the full power
and authority, exercisable from time to time in its sole discretion, to extend,
either at the time the option is granted or at any time during which the option
remains outstanding, the period for which the option is to remain exercisable
following the holder's termination of Employee status from the twelve (12) month
or shorter period set forth in the agreement evidencing such option to such
greater period of time as the Committee shall deem appropriate; provided,
however, that in no event shall such option be exercisable after the specified
expiration date of the term thereof.

                                       7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]