Document:

EXHIBIT 10.72

                      RESTATEMENT OF ASSIGNMENT AND LICENSE

         Preamble.

         This is a restatement  of the  Assignment and License made the 31st day
of March,  1987,  and the  Amendment  thereof made as of July 30,  1987,  by and
between CL Acquisition Corporation,  a Delaware corporation,  The Charles Schwab
Corporation,  a Delaware  corporation,  Charles Schwab & Co., Inc., a California
corporation,  and  Charles  R.  Schwab,  an  individual.  For  purposes  of this
restatement,  the parties are  referred to herein by their  present  names:  The
Charles  Schwab  Corporation,  formerly  CL  Acquisition  ("CS  Corp.");  Schwab
Holdings,  Inc.,  formerly The Charles Schwab  Corporation  ("Holdings,  Inc.");
Charles Schwab & Co., Inc. ("Schwab, Inc."); and Charles R. Schwab ("Schwab").

         The parties hereby agree as follows:

         1.  Definitions.  In this Agreement:

                  a. "Name" means  "Schwab" and each name and mark based thereon
or derived therefrom  including,  without  limitation,  Schwab, C. Schwab,  C.R.
Schwab,  Charles  Schwab,  Charles R. Schwab,  Chuck Schwab,  Schwab One, Schwab
Tech,  CRS, and the corporate  names The Charles Schwab  Corporation and Charles
Schwab & Co., Inc.

                  b. "Likeness" means any photograph, portrait, drawing or other
image or likeness of Schwab,  however  reproduced,  and whether  still,  single,
multiple or moving.

                  c. "Financial  Services  Business" means the business in which
Schwab,  Inc. is currently  engaged and any additional  and related  business in
which CS Corp., Holdings,  Inc. and/or Schwab, Inc. are permitted to engage from
time to time during the term of this Agreement under  applicable  statutes or by
the rules,  regulations  or orders of those  regulatory  agencies  to which such
entities are from time to time subject.

                  d.  "Permitted  Assignees  and  Licensees"  means  persons and
entitles  who have been  assigned or  licensed  the right to use the Name and/or
Likeness as permitted in Section 9 hereof.

                  e.  "Employment   Agreement"  means  that  certain  Employment
Agreement of even date with the  Assignment and License under the terms of which
Schwab agrees to perform certain services on behalf of CS Corp.

                  f.   "Involuntary   Termination,"   "Cause"   and   "Voluntary
Termination" will have the same meaning as "involuntary  termination,"  "cause,"
and "voluntary termination," respectively, in the Employment Agreement.

                  g. "Loan  Agreement"  means that certain "Loan Agreement dated
as of March 31, 1987 between CS Corp. as Borrower, The Banks herein named as the
Banks, and Security Pacific National Bank, as the Agent."

                  h. "Obligations,"  "Bank," "Agents," "Loan Documents" will all
have the same meaning as in the Loan Agreement.

                  i.  "Restricted  Period" means that period  beginning with the
date of the  Assignment and License and ending on the earlier of (i) eight years
from the date of the  Assignment  and  License  and (ii) the first date when all
Obligations are fully paid.

         2.  Assignment and License Back.  Schwab hereby assigns to CS Corp. all
service mark, trademark and trade name rights in and to the Name and Likeness as
defined below as well as all good will  associated  therewith.  CS Corp.  hereby
grants  back  to  Schwab  the  perpetual,   unrestricted,   ongoing,  exclusive,
irrevocable  license  to use the Name and  Likeness  throughout  the  world  for
activities other than the Financial Services Business.

         3.  Reversion.  In the event CS Corp.  and all Permitted  Assignees and
Licensees  shall all cease using the Name while Schwab  still lives,  all rights
granted to CS Corp.  with respect thereto shall revert to Schwab without further
act or deed.  In the event CS Corp.  and all  Permitted  Assignees and Licensees
shall all cease using the Likeness while Schwab still lives,  all rights granted
to CS Corp.  with respect  thereto shall revert to Schwab without further act or
deed.

         4.  Representations  by  Schwab.  Schwab  represents  that,  except  as
provided in this Agreement,  no person or organization is authorized,  permitted
or licensed by Schwab to use the Name and/or the  Likeness in  conjunction  with
any Financial  Services  Business,  and Schwab agrees that he will not directly,
nor  indirectly  through any other person or  organization,  use the Name and/or
Likeness in conjunction with any such business or authorize,  permit, or license
any other  party to use the Name or the  Likeness in  conjunction  with any such
business, other than as permitted by Section 5 hereof.

         5.  Employment; Payment; Expansion of License.

                  5.1  As used in this Section 5:

                  a. "Purchase Payment" means three-tenths of one percent (0.3%)
of the Purchase Payment Base.

                  b. "Purchase Payment Base" means the sum of  the  Net Revenues
of all of the Included Users.

                  c. "Net Revenues" of an Included User means the Gross Revenues
of that  Included  User minus the  Operating  Interest  Expense of that Included
User, in each case during the Payment Period.

                  d. "Gross  Revenues"  of  an  Included  User  means  the gross
revenues  of that  Included  User  during  the  Payment  Period,  determined  in
accordance with generally  accepted  accounting  principles,  and, to the extent
permitted  by such  principles  in  consolidated  financial  statements  of that
Included  User,  shall  include  the  gross  revenues  of all  subsidiaries  and
affiliates  of that  Included  User during the  Payment  Period,  but  excluding
nonetheless  from the gross revenues of that Included User and its  subsidiaries
and affiliates all gross revenues (i) that would otherwise be included more than
once in the Purchase  Payment Base,  (ii) received from other Included Users, or
(iii) received from subsidiaries and affiliates of other Included Users.

                  e. "Operating  Interest Expense" of an Included User means the
operating  interest  expense of that  Included  User during the Payment  Period,
determined in accordance with generally accepted  accounting  principles and, to
the extent permitted by such principles in consolidated  financial statements of
that  Included  User,  shall  include  the  operating  interest  expense  of all
subsidiaries and affiliates of the Included User during the Payment Period,  but
excluding  nonetheless from the operating interest expense of that Included User
and its  subsidiaries  and affiliates all operating  interest expense that would
otherwise be deducted more than once in calculating the Purchase Payment Base.

                  f. "Included Users" means CS Corp. and all Permitted Assignees
and Licensees except Banks and Agent.

                  g. The "Payment  Period"  begins on the first day of the month
following the termination of Schwab's employment by CS Corp.,  whether during or
after the Restricted  Period and regardless of the reason for such  termination,
unless (x) immediately prior to such termination Schwab and CS Corp. are parties
to an employment  agreement  whose term extends beyond the date of  termination,
(y) that employment agreement requires CS Corp. to make a payment or payments in
lieu of  salary  or other  payments  that  would  have  been  payable  under the
employment  agreement  had Schwab  continued  to be employed  beyond the date of
termination,  and (z) CS Corp. makes such payment or payments or pays a mutually
acceptable  settlement in lieu thereof.  If (x), (y) and (z) are all true,  then
the "Payment Period" shall begin on the first day of the month following the end
of the  full  term of the  employment  agreement,  provided  that  if a  written
agreement  between CS Corp.  and Schwab  expressly  provides that the payment(s)
made or  settlement  paid as  contemplated  by (z) is (are) in lieu of salary or
other  payments  otherwise  payable  under the  employment  agreement for a term
shorter  than the entire term of the  employment  agreement,  then the  "Payment
Period"  shall  begin on the first day of the  month  following  the end of such
shorter term. The "Payment Period" shall end on the earliest of (i) such time as
CS Corp. and all Permitted  Assignees and Licensees shall no longer use the Name
and/or  Likeness,  (ii) the day before the fifteenth  (15th)  anniversary of the
beginning of the Payment Period, or (iii) a Disqualifying Event.

                  h. A  "Disqualifying  Event" would occur if at any time during
the Restricted  Period,  whether or not Schwab is still employed by CS Corp. and
whether or not any license  granted by Section 5.4 has come into effect,  Schwab
should serve as a director of, render services to, invest in or otherwise engage
in any business  competitive  with any existing or  contemplated  business of CS
Corp.,  Holdings,  Inc. or Schwab,  Inc., and fail to terminate such activity or
investment  within  sixty  (60)  days  after  demand  by CS  Corp.  Despite  the
foregoing,  a purely  passive  investment  will  not  constitute  a basis  for a
Disqualifying  Event if it is in (i) publicly traded  securities,  provided that
Schwab does not own beneficially or of record more than five percent (5%) of any
class  of  security  or (ii) a  professionally  managed  venture  capital  fund,
provided that Schwab does not provide more than five percent (5%) of the capital
invested in any such fund.  The  determination  of the Board of  Directors of CS
Corp. that an action or activity is or is not  competitive  shall be controlling
on Schwab unless Schwab  objects to such  determination  within thirty (30) days
after the demand, in which case the  determination  shall be made by arbitration
in accordance with California  Code of Civil  Procedure,  Sections 1280 et seq.,
and that  determination  shall be binding upon the parties.  Each party shall be
entitled to discovery. The sixty-day opportunity to cure will not be extended by
any actual or requested  arbitration,  so that if Schwab does not  terminate the
specified activity or investment within the sixty-day period and the arbitration
subsequently  determines  that it was in fact  competitive,  Schwab will have no
further  opportunity  to cure.  Both CS Corp.  and  Schwab  will use their  best
efforts to complete the arbitration before the end of the sixty-day period.

                  5.2  Subject to the provisions  of Sections 5.6 and 5.7 below,
and in consideration for the assignments made herein, CS Corp. agrees to pay the
Purchase  Payment to Schwab,  his  executor,  successor  or assigns.  The amount
payable  shall be computed and paid on a calendar  quarterly  basis,  commencing
with the end of the first complete  calendar  quarter in the Payment Period.  CS
Corp.  agrees to keep (and to require each Included User to keep) accurate books
of account and records  relating  to its Net  Revenues,  and Schwab and his duly
authorized  representatives  shall have the right at all reasonable hours of the
day to an examination  and audit of such books of account and records and of all
documents and materials in the possession or under the control of Included Users
with respect to Gross  Revenues and  Operating  Interest  Expense.  Each book of
account and record shall be kept  available for at least two (2) years after all
payments are made with respect to the revenues and expenses reflected therein.

                  5.3. Despite anything in Section 5.2, payments to Schwab shall
be limited as follows:

                  a. As used in this Section 5.3:

                     (i)  The first day of the first calendar quarter during the
Payment Period is the "Base Date."

                     (ii)  Each  twelve  month  period  which (x) begins  on the
Base Date or an anniversary  of the Base Date and (y) falls entirely  within the
Payment Period will be a "Payment Year."

                     (iii) If the  Payment Period  begins on any date other than
the first day of a calendar quarter,  then the period beginning on the first day
of the Payment  Period and ending the day before Base Date will be the  "Initial
Payment Period."

                     (iv)  If the  Payment  Period  ends after the Base Date and
on any date other than the day before an anniversary of the Base Date,  then the
period  beginning  on the last  anniversary  of the Base Date during the Payment
Period and ending at the end of the Payment  Period  will be the "Final  Payment
Period."

                     (v)   "Consumer Price Index" means the Consumer Price Index
for All Urban Consumers for the San Francisco-Oakland-San Jose Metropolitan Area
published by the Bureau of Labor Statistics, as it was constituted for the month
of May 1987. If the Bureau of Labor Statistics  should cease  publication of the
Consumer Price Index for all Urban  Consumers for the San  Francisco-Oakland-San
Jose Metropolitan Area or changes the basis on which it is constituted, then the
parties  shall  use the  index  then  being  published  by the  Bureau  of Labor
Statistics or its successor agency which most closely  approximates the original
"Consumer Price Index."

                  b. Despite  anything  to the  contrary  in this Agreement, the
amount payable to Schwab  pursuant to Section 5.2 of this Agreement with respect
to any Initial Payment Period shall not exceed two million dollars  ($2,000,000)
multiplied  by two  fractions.  The first  fraction is the number of days in the
Initial  Payment Period divided by three hundred  sixty-five  (365).  The second
fraction is the Consumer Price Index for the calendar  month  preceding the Base
Date divided by the Consumer Price Index for the same calendar month in 1987.

                  c. Despite  anything  to  the  contrary in this Agreement, the
amount  payable to Schwab  pursuant to Section 5.2 of the Agreement with respect
to any Payment Year shall not exceed two million dollars ($2,000,000) multiplied
by a  fraction,  the  numerator  of which is the  Consumer  Price  Index for the
calendar month immediately preceding the first month in the Payment Year and the
denominator  of which is the Consumer Price Index for the same calendar month in
1987.

                  d. Despite  anything  to  the  contrary  in the Agreement, the
amount  payable to Schwab  pursuant to Section 5.2 of the Agreement with respect
to any Final Payment  Period shall not exceed two million  dollars  ($2,000,000)
multiplied  by two  fractions.  The first  fraction is the number of days in the
Final Payment  Period  divided by three  hundred  sixty-five  (365).  The second
fraction  is the  Consumer  Price Index for the  calendar  month  preceding  the
beginning of the Final Payment  Period  divided by the Consumer  Price Index for
the same calendar month in 1987.

                  e. If b,  c or d above  requires the use of the Consumer Price
Index for a month for which it is not  published,  then the Consumer Price Index
for the next preceding month which is published shall be used.

                  5.4  Subject to the provisions of Section 5.6 below:

                  a. Effective  immediately  upon  the  termination  of Schwab's
employment by CS Corp., Schwab shall have, without further action on his part, a
perpetual, unrestricted, ongoing, non-exclusive,  irrevocable license to use the
Likeness  throughout the world in the following  part of the Financial  Services
Business: the sale, distribution,  broadcast and promotion of books, videotapes,
lectures, radio programs and television programs.

                  b. At  any  time  after  termination   of  Schwab's employment
by CS Corp., Schwab may notify CS Corp. that Schwab proposes to engage in all or
part of that  portion  of the  Financial  Services  Business  commonly  known as
financial  planning.  The notice shall  describe in summary  form the  financial
planning  products  and  services  that  Schwab  expects  will be offered by the
business in which he proposes to engage. CS Corp. promptly shall grant to Schwab
an  immediately  effective,  perpetual,  unrestricted,  ongoing,  non-exclusive,
irrevocable  license to use the  Likeness  to engage in the  financial  planning
business  described  except  that CS Corp.  need not grant such a license to the
extent  that the  business  described  would be in direct  competition  with any
Financial  Services  Business  in which CS Corp.  or any  Permitted  Assignee or
Licensee is then engaged or which CS Corp. or any Permitted Assignee or Licensee
plans as of the date of receipt of Schwab's  notice to commence within three (3)
months after receipt of Schwab's notice.

                  c. Commencing  on  the  date  that  is  two (2) years from the
beginning of the Payment  Period,  Schwab shall have a perpetual,  unrestricted,
ongoing,  non-exclusive,  irrevocable license to use the Likeness throughout the
world in the  Financial  Services  Business.  This  license will  supersede  any
license previously granted pursuant to Section 5.4.b of this Agreement.

                  d. The  licenses  pursuant  to  this  Section  5.4  may not be
assigned or  sublicensed  except that  Schwab may grant  sublicenses  to use the
Likeness in connection with the sale, distribution,  broadcast and promotion, of
goods,  services and programs that Schwab personally plays a substantial role in
creating.

                  5.5  It  is   the  understanding  and  intent  of the  parties
that when and if any license granted in Section 5.4 of this Agreement comes into
effect,  Schwab then may engage in the  business  covered by the license and use
his  personal  name,  personal  initials and  personal  nicknames in  connection
therewith  without  any  restriction  imposed by this  Agreement  except (i) the
restrictions set forth in Sections 6.1, 6.2 and 7 of this Agreement and (ii) the
possibility that the Payment Period might prematurely terminate because engaging
in  such a  business  might  constitute  a  Disqualifying  Event.  Further,  the
restriction  described  in (ii)  would  terminate  at the end of the  Restricted
Period.

                  5.6  Despite   anything  in  Sections  5.2  and  5.4,  if  the
termination of Schwab's employment by CS Corp. is an Involuntary Termination for
Cause during the Restricted  Period,  or  alternatively if such termination is a
Voluntary  Termination during the Restricted  Period,  then Sections 5.2 and 5.4
shall be of no further force or effect.

                  5.7  Despite anything in Section 5.2, if Banks or Agent should
acquire legal and  beneficial  ownership of the Name by virtue of  foreclosing a
security interest granted to them in the Loan Documents, then thereafter Section
5.2 shall be of no further force or effect. Further, if a third party other than
Banks or Agent  should  acquire  legal and  beneficial  ownership of the Name by
virtue of the foreclosure of the security interest granted to Banks and Agent in
the Loan  Documents  and such  foreclosure  does not result in an immediate  and
complete satisfaction of the Obligations,  then the Payment Period shall exclude
all time  elapsed  between the date when that third party so acquires  title and
the first date when the Obligations are satisfied in full.

         6.  Schwab's Use of the Name.

                  6.1  Schwab may use all or part of his personal name, personal
initials or personal  nicknames in any manner not prohibited by this  Agreement.
Despite  anything  to the  contrary  in this  Agreement,  however,  but  subject
nevertheless  to the  provisions of Section 3 of this  Agreement,  in exercising
that  right and the  rights  granted  to Schwab  in  Sections  2 and 5.4 of this
Agreement,  Schwab  may  not  (i)  use or  authorize  another  to use  the  Name
(including without  limitation his personal name,  personal initials or personal
nicknames) as a service mark,  trademark or trade name in the Financial Services
Business or (ii) use or authorize another to use the Name or Likeness or both in
a manner that causes  confusion as to whether CS Corp.  or any of the  Permitted
Assignees and Licensees has created,  manufactured,  endorsed, sold or otherwise
been involved with any product or service.

                  6.2  Further,  Schwab  may not refer or  authorize  another to
refer to CS Corp. or any of the Permitted Assignees and Licensees by name in any
advertisement,  press  release,  interview  or other  written,  spoken or visual
material  which is intended to promote  any  product or service,  without  first
obtaining  the  written  consent of CS Corp.  Cs Corp.  shall not  withhold  any
consent required by the previous  sentence unless CS Corp.  reasonably  believes
that the proposed  reference  would be a breach of Section 6.1 of this Agreement
or another term of the Agreement. Should Schwab request any such consent, Schwab
shall provide CS Corp. with all information  that CS Corp.  reasonably  requests
regarding  the  proposed  reference  in order to  determine  whether or not such
reference  would be a breach of Section 6.1 of this Agreement or another term of
the Agreement.

         7.  Quality of Goods and Services.  CS Corp.  acknowledges  that Schwab
has,  and Schwab  acknowledges  that CS Corp.  intends to  develop,  the highest
quality  reputation  for the  delivery of goods and  services  in the  Financial
Services Business,  and each agrees that the goods and services offered by it or
him using the Name or Likeness shall be of such quality as to be appropriate and
suited to the protection  and  enhancement of the Name and Likeness and the good
will  appurtenant  thereto,  that such goods and services will be  manufactured,
sold,  distributed and performed in accordance with all Federal, state and local
laws  that  are  applicable  and  material,  and that  the  sale,  distribution,
provision of services,  and/or  exploration by it or him shall be of the highest
standard and that the same shall in no manner  reflect  adversely  upon the good
name of the other or the Name and/or Likeness.  Further,  CS Corp. agrees not to
use any Likeness in advertising or as a mark while Schwab is alive without first
obtaining Schwab's approval of his appearance in the Likeness, but such approval
shall not be unreasonably withheld.

         8.  Remedies.   CS  Corp.  and  Schwab  each   acknowledge    that  the
manufacture,  sale or  distribution  of goods or the  provision  of  services in
breach of Section 7 of this Agreement  would result in immediate and irreparable
damage to the other.  Each  acknowledges  and admits  that there is no  adequate
remedy at law for such manufacture,  sale,  distribution or provision and agrees
that the other shall be entitled to  equitable  relief by way of  temporary  and
permanent injunctions,  without bond, and such other further relief as any court
having  jurisdiction  shall deem just and proper.  However,  such relief may not
include an injunction or other prohibition  against use of the Name and Likeness
that is permitted by this agreement, a rescission of this Agreement or reversion
of the rights granted to either party herein.

         9.  Assignment.

                  9.1  Subject to compliance with Section  9.2  below,  CS Corp.
may assign or license  any or all rights  granted to it herein:  (i) as security
under the Loan  Documents;  (ii) to  Holdings,  Inc.,  to  Schwab,  Inc.  and to
subsidiaries and affiliates of CS Corp., Holdings,  Inc. and Schwab, Inc.; (iii)
if Schwab gives his prior written consent or votes in favor of the assignment in
his capacity as a director of CS Corp, Holdings,  Inc. or Schwab, Inc., and (iv)
after the death of Schwab. In exercise of their rights under the Loan Documents,
the Banks and Agent may assign or license  any and all rights  assigned  to them
pursuant to the preceding sentence.

                  9.2  All  assignments to Banks or Agent must be made expressly
subject  to all the  terms  and  conditions  of  this  Agreement.  In any  other
assignment  or license  pursuant to the other  provisions  of Section  9.1,  all
assignees  and licensees  must join in all  covenants of CS Corp.  hereunder and
assume joint and several  liability for all  obligations of CS Corp.  hereunder,
with such joinder and  assumption  being made for the express and direct benefit
of Schwab.  No assignment or license by CS Corp.  shall relieve it of any of its
obligations hereunder.

                  9.3  Except for  assignments  and  licenses  that both (i) are
permitted  by Section 9.1 and (ii) conform to the  requirements  of Section 9.2,
neither CS Corp. nor Permitted Assignees and Licensees may assign or license any
rights granted to CS Corp.  herein,  and any purported  assignment or license of
such rights that is not permitted shall be null and void.

                  9.4  For purposes  hereof  "assignment" and "license" shall be
construed in their  broadest  sense and shall  include any  purported  direct or
indirect transfer or other disposition, voluntary or involuntary, of any of such
rights,  including without  limitation,  any distribution upon dissolution,  any
merger or other  reorganization  to which CS Corp.  or a  Permitted  Assignee or
Licensee is a party unless the  shareholders of such entity  immediately  before
the merger or other reorganization retain the ability to elect a majority of the
board of directors  immediately after such merger or reorganization,  any pledge
or hypothecation of any of such rights,  or the imposition of any lien upon such
rights which is not fully and finally  removed within 30 days following the date
of such  imposition,  but does not  include the sale of  securities  for cash or
property.

         10. Notices.  Any notice,  demand  or other communication  to  be given
hereunder by any party to another shall be in writing and  delivered  personally
or sent by certified mail, postage prepaid, as follows:

             CS CORP:  The Charles Schwab Corporation
                       101 Montgomery Street
                       San Francisco, CA  94104
                       Attention:  Lawrence J. Stupski, President

             SCHWAB:   Charles R. Schwab
                       c/o Charles Schwab & Co., Inc.
                       101 Montgomery Street
                       San Francisco, CA  94104

or to such other persons as may be  designated  in writing by the parties,  by a
notice given as aforesaid.

         11. Joint  and Several Liability.  Holdings, Inc. and Schwab, Inc. join
in all covenants of CS Corp. hereunder; and CS Corp., Holdings, Inc. and Schwab,
Inc. each agree to be jointly and severally  liable for all  obligations of each
of the others hereunder.  Holdings,  Inc. and Schwab, Inc. each acknowledge that
its inclusion in the class of Permitted Assignees and Licensees is full and fair
consideration for the liability that it is undertaking hereunder.

         12. Miscellaneous.  This  Agreement  shall  be  construed in accordance
with the laws of California  applicable  to agreements  made and to be performed
entirely  in  that  state.   Section  headings  used  herein  are  inserted  for
convenience  only and are not part of this Agreement.  None of the terms of this
Agreement  may be waived or modified  except by an express  agreement in writing
signed by both parties. Nothing contained herein shall be construed to place the
parties in the relationship of partners or joint  venturers,  and CS Corp. shall
have no power to  obligate  or bind  Schwab  in any  manner  whatsoever.  In any
controversy  hereunder  the  prevailing  party  shall be entitled to recover its
reasonable  attorneys' fee and expenses from the opposing party or parties. This
Agreement  constitutes the entire agreement  between the parties with respect to
the  subject  matter  hereof,  and shall  inure to the  benefit  of and shall be
binding upon the parties,  their respective  heirs,  executors,  administrators,
successors and permitted assigns.

         13. Survival of Previous Actions; Effective Date.

                  13.1 This  Agreement  supersedes  the  original Assignment and
License and the  Amendment  thereof;  but all  assignments,  licenses,  notices,
waivers and  consents  previously  effected  by or given  pursuant to either the
original  Assignment and License or the Amendment  thereof or both shall survive
and remain in full force and effect.

                  13.2 The  Preamble to this  Agreement and this Section 13 will
become  effective on the date of execution  hereof as set forth in the paragraph
next following.  Sections 5.3, 5.5, 6.1 and 6.2 of this Agreement  originated in
the Amendment of the original  Assignment and License and hence became effective
as of July 30, 1987. Sections 5.1(a), and 5.1 (g) and 5.4 of this Agreement were
revised in the Amendment of the original Assignment and License and hence became
effective in their present form as of July 30, 1987,  but the previous  versions
of those  sections were  effective  from March 31, 1987 until July 30, 1987. All
other portions of this Agreement became effective on March 31, 1987.

         IN WITNESS WHEREOF,  the parties  hereto have  affixed their signatures
on the _________ day of _________, 1988.

                                                  The Charles Schwab Corporation

/S/ Charles R. Schwab                             by  /S/ Lawrence J. Stupski
---------------------------                           --------------------------
Charles R. Schwab                                     Lawrence J. Stupski,
                                                      President

Charles Schwab & Co., Inc.                        Schwab Holdings, Inc.

by  /S/ Lawrence J. Stupski                       by  /S/ Charles R. Schwab
    -----------------------                           --------------------------
    Lawrence J. Stupski,                              Charles R. Schwab,
    President and Chief                               Chairman and Chief
    Operating Officer                                 Executive Officer

<PAGE>

 STATE OF CALIFORNIA                )
                                    )        ss.
 CITY AND COUNTY OF SAN FRANCISCO   )

     On this 25th day of January,  1988,  before me, Sheila S.  Providenza,  the
undersigned  Notary Public,  personally  appeared Charles R. Schwab.  personally
known to me or  proved  to me on the basis of  satisfactory  evidence  to be the
person who  executed  the within  instrument  as  Chairman  for and on behalf of
Charles Schwab & Co., Inc. and acknowledged to me that corporation executed it.

     WITNESS my hand and official seal.

                                                        /S/ Sheila S. Providenza
                                                        ------------------------
                                                        Notary Public

*********************************************
*                 SHEILA S. PROVIDENZA      *
*               NOTARY PUBLIC-CALIFORNIA    *
*                   CITY & COUNTY OF        *
*                    SAN FRANCISCO          *
* My Commission Expires October 13, 1990.   *
*********************************************

OFFICIAL SEAL

<PAGE>

STATE OF CALIFORNIA                )
                                   )        ss.
CITY AND COUNTY OF SAN FRANCISCO   )

     On this 25th day of January,  1988,  before me, Sheila S.  Providenza,  the
undersigned  Notary Public,  personally  appeared Charles R. Schwab.  personally
known to me or  proved  to me on the basis of  satisfactory  evidence  to be the
person whose name is subscribed to the within  instruments,  and acknowledged to
me that he executed the same.

     WITNESS my hand and official seal.

                                                        /S/ Sheila S. Providenza
                                                        ------------------------
                                                        Notary Public

*********************************************
*                 SHEILA S. PROVIDENZA      *
*               NOTARY PUBLIC-CALIFORNIA    *
*                   CITY & COUNTY OF        *
*                    SAN FRANCISCO          *
* My Commission Expires October 13, 1990.   *
*********************************************

OFFICIAL SEAL

<PAGE>

STATE OF CALIFORNIA                )
                                   )        ss.
CITY AND COUNTY OF SAN FRANCISCO   )

     On this 25th day of January,  1988,  before me, Sheila S.  Providenza,  the
undersigned Notary Public,  personally appeared Lawrence J. Stupski.  personally
known to me or  proved  to me on the basis of  satisfactory  evidence  to be the
person who executed the within  instrument as President for and on behalf of The
Charles  Schwab  Corporation,  Inc.  and  acknowledged  to me  that  corporation
executed it.

     WITNESS my hand and official seal.

                                                        /S/ Sheila S. Providenza
                                                        ------------------------
                                                        Notary Public

*********************************************
*                 SHEILA S. PROVIDENZA      *
*               NOTARY PUBLIC-CALIFORNIA    *
*                   CITY & COUNTY OF        *
*                    SAN FRANCISCO          *
* My Commission Expires October 13, 1990.   *
*********************************************

OFFICIAL SEAL

<PAGE>

STATE OF CALIFORNIA                )
                                   )        ss.
CITY AND COUNTY OF SAN FRANCISCO   )

     On this 25th day of January,  1988,  before me, Sheila S.  Providenza,  the
undersigned Notary Public,  personally appeared Lawrence J. Stupski.  personally
known to me or  proved  to me on the basis of  satisfactory  evidence  to be the
person who executed the within  instrument  as President  and C.O.O.  for and on
behalf of the Schwab  Holdings,  Inc. and  acknowledged  to me that  corporation
executed it.

     WITNESS my hand and official seal.

                                                        /S/ Sheila S. Providenza
                                                        ------------------------
                                                        Notary Public

*********************************************
*                 SHEILA S. PROVIDENZA      *
*               NOTARY PUBLIC-CALIFORNIA    *
*                   CITY & COUNTY OF        *
*                    SAN FRANCISCO          *
* My Commission Expires October 13, 1990.   *
*********************************************

OFFICIAL SEALEXHIBIT 10.149

                              EMPLOYMENT AGREEMENT

         This  Agreement  is made and  entered  into as of March 31, 1995 by and
between The Charles  Schwab  Corporation,  a Delaware  Corporation  (hereinafter
referred to as the "Company"), and Charles R. Schwab, an individual (hereinafter
referred to as the "Executive") effective March 31, 1995.

WITNESSETH:

         WHEREAS, the Company desires to reward the Executive for his continuing
contribution  to the Company and provide  additional  security for the Executive
and to provide an inducement to the Executive to remain with the Company and not
to engage in competition with it.

         NOW  THEREFORE,  in  consideration  of the  mutual  obligations  herein
contained,  the parties hereto,  intending to be legally bound hereby,  covenant
and agree as follows:

1.       EMPLOYMENT

         (a)  The Company hereby employs the Executive to render services to the
              Company  in the  positions  of  Chairman  of the  Board  and Chief
              Executive  Officer,  in the capacity defined in the By-laws of the
              Company,  as may be amended from time to time. The Executive shall
              perform such duties  commensurate with his position and shall have
              full authority and  responsibility,  subject to the control of the
              Board  of  Directors,   for  the  overall   strategic   direction,
              management, and leadership of the Company.

         (b)  Throughout the term of this Agreement,  the Executive shall devote
              his full business time and undivided attention to the business and
              affairs of the Company and its subsidiaries, except for reasonable
              vacations and except for illness or incapacity, but nothing in the
              Agreement  shall preclude the Executive  from devoting  reasonable
              periods  required  for  serving,  as  appropriate,  on  Boards  of
              Directors of other companies,  and from engaging in charitable and
              public  service   activities   provided  such  activities  do  not
              materially  interfere  with  the  performance  of his  duties  and
              responsibilities under this Agreement.

2.       TERM

         This  Agreement  shall  commence on March 31, 1995,  and shall continue
         through March 31, 2000,  subject to the terms and conditions herein set
         forth.  Beginning on March 31, 1996, and on each subsequent anniversary
         of this  date,  one year  shall be added to the term of the  Agreement,
         unless,  prior to such  anniversary,  the Company or the  Executive has
         notified  the other party  hereto that such  extension  will not become
         effective.

3.       COMPENSATION

         For  services  rendered  by the  Executive  during  the  term  of  this
         Agreement,  and for his  performance of all  additional  obligations of
         employment,  the Company  agrees to pay the Executive and the Executive
         agrees  to  accept  the  following  salary,  other  compensation,   and
         benefits:

         (a)  Base Salary. During the term of this Agreement,  the Company shall
              pay the Executive in periodic  installments,  a base salary at the
              annual rate of $800,000,  such base salary to be reviewed on March
              31, 1996, and on each subsequent anniversary, taking into account,
              among other things, individual performance,  competitive practice,
              and general business conditions.

         (b)  Annual  Incentive.  In  addition  to the base  salary  provided in
              Section 3(a) above,  the Executive shall be eligible to receive an
              annual  incentive  award based upon the  Company's  attainment  of
              pre-established   performance   targets   relative  to   specified
              performance standards. The performance standards upon which annual
              incentive  payments  will be earned  shall be  defined  to include
              consolidated  pretax profit  margin  (defined as net income before
              taxes,  divided by net revenue) and annual net revenue  percentage
              growth of the Company.

              For  each  fiscal  year  during  the term of this  Agreement,  the
              Executive's  incentive opportunity shall be computed as the amount
              of total cash  compensation  earned pursuant to the  formula-based
              matrix,  which  shall be  adopted  each  year by the  Compensation
              Committee  of the Board of  Directors  of the  Company,  minus the
              Executive's actual base salary paid during that year. For the 1995
              fiscal  year,  the target total  annual cash  compensation  amount
              (including  base salary) is $3,500,000;  therefore,  the incentive
              target is $2,700,000 for achieving  specified pretax profit margin
              and revenue growth objectives.

              The formula-based matrix, as amended at the sole discretion of the
              Board of Directors,  shall be the sole basis for  determining  the
              Executive's  annual  incentive  award.  For each calendar year for
              which this  Agreement  is in effect,  beginning  with the calendar
              year 1996, the interior values in the  formula-based  matrix shall
              be increased by a fraction, based on the U.S. Consumer Price Index
              (for  all   consumers,   as  published  by  the  Bureau  of  Labor
              Statistics);  provided  that no interior  value shall be increased
              above $12 million.  The  fractional  increase shall be the CPI for
              that  year  divided  by  the  CPI  for  calendar  year  1995.  The
              Compensation  Committee  of the Board  shall  annually  review and
              approve the performance  standards and targets with respect to the
              Executive's incentive opportunity, which review and approval shall
              be  completed no later than the 90th day of the  Company's  fiscal
              year for which such incentive opportunity may be earned.

         (c)  Long-Term  Incentive.  The Executive  will be considered for stock
              options in  accordance  with the  Company's  1992 Stock  Incentive
              Plan,  as  amended,   or  any  successor  thereto  ("Stock  Option
              Program")  and any other  long-term  incentives  offered  to other
              executives  of the  Company  from time to time  during the term of
              this Agreement.

         (d)  Benefits. The Executive shall be entitled to participate,  as long
              as he is an  employee  of  the  Company,  in  any  and  all of the
              Company's  present or future  employee  benefit  plans,  including
              without  limitation  pension  plans,  thrift  and  savings  plans,
              insurance plans, and other benefits that are generally  applicable
              to the Company's executives;  provided,  however, that the accrual
              and/or  receipt by the Executive of benefits under and pursuant to
              any  such  present  or  future  employee  benefit  plan  shall  be
              determined by the provisions of such plan.

         (e)  Perquisites.  The  Executive  will  be  provided  such  additional
              perquisites  as are customary  for senior level  executives of the
              Company  provided that each perquisite is approved by the Board of
              Directors.

         (f)  Business  Expenses.  The  Executive  will  be  reimbursed  for all
              reasonable expenses incurred in connection with the conduct of the
              Company's   business  upon   presentation   of  evidence  of  such
              expenditures,   including  but  not  limited  to  travel  expenses
              incurred  by the  Executive  in  the  performance  of his  duties,
              security for the Executive,  his family, and principal  residence,
              professional organization dues, and club initiation fees, dues and
              expenses.

         (g)  Any annual  incentive award earned by Executive under this Section
              3 shall be paid as soon as reasonably  practical  after the end of
              the Company's fiscal year end; provided, however, that if any such
              payment  would be  nondeductible  to the  Company  under  Internal
              Revenue Code Section 162(m), then any nondeductible  amounts shall
              be deferred from year to year until the payment of such amounts is
              deductible by the Company.

4.       TERMINATION OF EMPLOYMENT

         (a)  Resignation.  Notwithstanding Section 2 hereof, this Agreement may
              be  terminated  by the  Executive  at any time upon six (6) months
              written notice of resignation by the Executive to the Company, and
              in such  event any  payments  pursuant  to Section 3 and 4 of this
              Agreement shall automatically  terminate (except for the Company's
              obligations   relation   to   voluntary   termination   under  its
              compensation  and benefit plans,  as specified in the various plan
              documents,  and the  Executive's  obligations set forth in Section
              5).  Subsequent  payments may be made to the Executive as provided
              pursuant to Section 6 of this Agreement.

         (b)  Termination  by the Company Other Than for Cause.  Termination  of
              the Executive by the Company  other than for Cause,  as defined in
              Section  4(c) below,  shall cause the Company to make  payments to
              the Executive hereunder pursuant to the provisions of this Section
              4(b).  Such a  termination  shall  require  at  least  sixty  (60)
              business  days'  prior  notice  and  must be  signed  by at  least
              three-fourths  (3/4) of all the non-employee  members of the Board
              of Directors.

              Notwithstanding anything to the contrary contained in Stock Option
              Program  or  any  agreement  or  document  related  thereto,   the
              Executive's  total  outstanding and unvested shares and/or options
              under the Stock  Option Plan shall at the date of  termination  be
              deemed to be 100%  vested.  No further  grants of stock or options
              shall be made under the Plan after such termination.

              With respect to base salary and annual incentive compensation, the
              Company's  obligation shall be to pay the Executive,  according to
              the terms of this  Agreement and for a period of  thirty-six  (36)
              months, an amount equal to the annual salary and incentive paid to
              the Executive [at the bonus level for the year prior to which such
              termination occurs unless performance of the Company as defined in
              the matrix  referenced  in  Section  3(b) is better in the year of
              termination,  in  which  event  such  bonus  shall be based on the
              matrix  calculation  as  described in Section  3(b)],  such annual
              amounts to be paid in equal monthly installments.

              During the 36-month  severance payment period, the Executive shall
              be entitled to all payments,  benefits and perquisites as provided
              for in this Agreement,  and office space and  secretarial  support
              comparable to that provided to the Executive during his employment
              by the Company.  The  Executive  shall be entitled to all payments
              and  benefits  as  provided  for in this  Section  for a period of
              thirty-six (36) months.

              If the Board of  Directors  fails to reelect  the  Executive  to a
              position  comparable  to that  described  in Section  1(a) of this
              Agreement or,  without  terminating  the  Executive's  employment,
              removes the  Executive  from his position  for reasons  other than
              Cause,   substantively   reduces   the   Executive's   duties  and
              responsibilities,   reduces  his  pay  and/or   benefits,   forces
              relocation,  or requires excessive travel, then the Executive may,
              by notice to the  Company,  treat  such  action  or  removal  as a
              termination  of the  Executive  by the  Company  pursuant  to this
              Section 4(b).

              In the event of the Executive's death before the completion of the
              payments  pursuant to this Section 4(b),  the  remaining  payments
              hereunder  shall  be  made  to the  beneficiary  or  beneficiaries
              designated  by the  Executive to the Company in writing or, absent
              such a designation, to his estate.

         (c)  Termination by the Company for Cause.  The Company  may  terminate
              the   Executive's  employment  for  Cause  if  the  Executive  has
              committed  a  felonious act, or the Executive, in carrying out his
              duties  hereunder  has been willfully and grossly negligent or has
              committed willful and gross misconduct resulting, in  either case,
              in  material  harm  to  the  Company.  An act or omission shall be
              deemed "willful" only if done, or omitted to be done, in bad faith
              and without reasonable belief  that it was in the best interest of
              the Company.  In the event of termination of  the Executive by the
              Company  for Cause,  the  Executive shall no longer be entitled to
              receive  any  payments or any other rights or  benefits under this
              Agreement.

         (d)  Disability. In the event the Executive's employment terminates due
              to  total  and  permanent  disability  (for the  purposes  of this
              Agreement  "disability"  shall  have the same  meaning  as applies
              under the Company's  Long-Term  Disability Plan), he will continue
              to  receive  the  same  base  salary  and  benefits  which  he was
              receiving  prior  to such  disability  for 36  months,  offset  by
              payments  under  the  Company's  Long-Term   Disability  Plan.  In
              addition,  he shall receive a pro-rated annual  incentive  payment
              for the year in which is  employment is  terminated,  based on the
              formula described in Section3(b).

         (e)  Death. In the event of the death of the Executive  during the term
              of this Agreement,  the rights and benefits under employee benefit
              plans and programs of the Company,  including life insurance, will
              be determined in accordance  with the terms and conditions of such
              plans and  programs  as in  effect  on his date of death.  In such
              event,  the  Company  shall  pay in a lump sum to the  Executive's
              estate an amount  equal to five times the then current rate of the
              Executive's base salary, and no further payments shall be required
              pursuant to this Agreement.

         (f)  Change in Control.  In  the  event  of  a change in control of the
              Company,  as set forth below, the Executive may at any time and in
              his  complete  discretion  during  a  24-month  period following a
              change  in  control,  elect  to  terminate his employment with the
              Company.  For  purposes  of this  Agreement, a "change in control"
              shall  mean  a  change  in  ownership of the Company that would be
              required  to  be  reported  in  response to Item 1(a) of a Current
              Report on Form  8-K pursuant to the Securities and Exchange Act of
              1934  ("Exchange Act"),  as  in  effect on the date hereof, except
              that any  merger,  consolidation  or  corporate  reorganization in
              which  the  owners  of  the  capital stock entitled to vote in the
              election  of  directions  of the  Employer or the Company ("Voting
              Stock")  prior  to  said  combination,  own  75%  or  more of  the
              resulting entity's Voting Stock shall not be considered  a  change
              in control for the purposes  of  this  Agreement;  provided  that,
              without  limitation,  such a  change in control shall be deemed to
              have  occurred  if  (i)  any  "person"  (as  that term  is used in
              Sections  13(d)  and  14(d)(2) of  the Exchange Act), other than a
              trustee or other fiduciary holding  securities under an   employee
              benefit plan of the Company  is or becomes  the  beneficial  owner
              (as that is used in Section 13(d) of the Exchange  Act),  directly
              or indirectly, or 30% or more of the  Voting  Stock of the Company
              or its successor; or (ii) during  any  period  of  two consecutive
              years,  individuals who at the beginning of such period constitute
              the Board of Directors  of  the  Company ("Incumbent Board") cease
              for  any  reason  to  constitute  at  least  a  majority  thereof;
              provided, however,  that  any  person  becoming a  director of the
              Company  after  the  beginning  of  the  period whose election was
              approved  by  a  vote of at least  three-quarters of the directors
              comprising the incumbent Board shall, for  the purposes hereof, be
              considered as though he were a member of  the  incumbent Board; or
              (iii) there  shall  occur  the sale of all or substantially all of
              the  assets  of  the  Company.  Notwithstanding  anything  in  the
              foregoing  to  the  contrary,  no change in control of the Company
              shall be deemed to have occurred for purposes of this Agreement by
              virtue of any  transaction  which  results  in the Executive, or a
              group of persons which includes the Executive acquiring,  directly
              or indirectly,  more than 30 percent of the  combined voting power
              of the Company's  outstanding  securities.  If  any  of the events
              constituting  a change in  control shall  have occurred during the
              term  hereof,  the  Executive shall  be entitled  to the privilege
              provided in subparagraph (f) herein to terminate his employment.

              Any termination by the Executive pursuant to this Section shall be
              communicated by a written "Notice of Termination."

              If,  following a change in control,  the  Executive  shall for any
              reason  voluntarily  terminate his employment  during the 24-month
              period  following a change in control,  then the Company shall pay
              base salary up to the date of  termination  and a prorated  annual
              incentive  award  based on the  calculated  bonus  for the year in
              which termination  occurred, as defined in Section 3(b), in a lump
              sum on the thirtieth (30th) day following the Date of Termination.

5.       COVENANT NOT TO COMPETE

         (a)  As a  material  inducement  to the  Company's  entering  into this
              Agreement,  the  Executive  agrees  that  during  the term of this
              Agreement,  he will not become  associated with, render service to
              or engage in any other business  competitive  with any existing or
              contemplated  business of the Company or its subsidiaries,  except
              that the Executive may serve as a member of the board of directors
              of other  companies or  organizations,  provided  that he provides
              written notice to the Board of each significant activity, and that
              he   will  do   nothing   inconsistent   with   his   duties   and
              responsibilities to the Company.

         (b)  If the  Executive  voluntarily  resigns  from  the  employ  of the
              Company prior to the expiration of the term of this Agreement,  he
              specifically agrees that for a period of five (5) years commencing
              with the date of his voluntary  resignation  he will not engage in
              or perform any services either on a full-time or a part-time or on
              a consulting or advisory basis for any business  organization that
              is in  competition  with the Company at the time such services are
              being performed by Executive, with the exception that this Section
              5(b)  shall  not  apply  in  the  event  the   Executive   resigns
              voluntarily  following  a change  in  control  of the  Company  as
              defined in Section 4(f).

         (c)  The Executive will not at any time,  whether while employed by the
              Company or after  voluntary or  involuntary  termination  or after
              retirement,  reveal to any  person,  firm or  entity  any trade or
              business   secrets  or   confidential,   secret,   or   privileged
              information  about the business of the Company or its subsidiaries
              or affiliates except as shall be required in the proper conduct of
              the Company's business.

6.       CONSULTING ARRANGEMENT

         Following a voluntary  termination  of  employment  pursuant to Section
         4(a) and 4(f), or an involuntary  termination subsequent to a change in
         control of the  Company,  for any  reason but during a 24-month  period
         following  a change in control as  defined  in  Section4(f),  after the
         Executive ceases to render services as the Chief Executive Officer,  he
         may in his sole discretion  elect to act as a consultant to the Company
         for a period  of five (5)  years.  During  this  period  of  consulting
         services,  the Executive shall, at reasonable times and places,  taking
         into account any other  employment or activities he may then have, hold
         himself  available to consult with and advise the officers,  directors,
         and other  representatives of the Company. As compensation thereof, the
         Executive  shall be  entitled to  receive,  and  Company  shall pay, an
         annual  amount equal to  seventy-five  percent (75%) of his annual base
         salary  rate  in  effect   immediately  prior  to  his  termination  of
         employment,  but in no event an annual amount to exceed $1,000,000, for
         each year of such period, payable in equal monthly installments.

7.       WITHHOLDING

         All  amounts  payable  hereunder  which are or may  become  subject  to
         withholding  under pertinent  provisions of law or regulation  shall be
         reduced for applicable  income and/or  employment  taxes required to be
         withheld.

8.       MISCELLANEOUS

         (a)  This Agreement  supersedes any prior agreements or understandings,
              oral or written,  with respect to  employment of the Executive and
              constitutes the entire Agreement with respect  thereto;  provided,
              however,  that  nothing  contained  herein  shall  supercede  that
              certain  Assignment and License Agreement entered into as of March
              31,  1987,  as  amended.  This  Agreement  cannot  be  altered  or
              terminated orally and may be amended only by a subsequent  written
              agreement  executed by both of the  parties  hereto or their legal
              representatives,  and any material amendment must be approved by a
              majority of the voting shareholders of the Company.

         (b)  This Agreement  shall  be governed by and construed in  accordance
              with the laws of the State of California.

         (c)  This  Agreement  shall  be  binding  upon and  shall  inure to the
              benefit of the Company and its  successors  and  assigns.  In that
              this  constitutes  a  personal  service  agreement,  it may not be
              assigned by the  Executive  and any  attempted  assignment  by the
              Executive in violation of this covenant shall be null and void.

         (d)  For  the  purpose  of  this  Agreement,   the  phrase  "designated
              beneficiary  or  beneficiaries"  shall include the estates of such
              beneficiaries  in the event of their  death  before the receipt of
              all  payments  under this  Agreement  and shall also  include  any
              alternate or successor beneficiaries  designated in writing to the
              Company by the Executive.

         (e)  The  invalidity  or  unenforceability  of any  provision  of  this
              Agreement shall not affect the validity or  enforceability  of any
              other provisions, which shall remain in full force and effect.

         (f)  The  Section  and  Paragraph  headings  contained  herein  are for
              reference  purposes  only  and  shall  not in any way  affect  the
              meanings or interpretation of this Agreement.

         (g)  Any dispute or  controversy  arising under or in  connection  with
              this  Agreement  shall  be  settled  exclusively  by  arbitration,
              conducted  before a panel of  arbitrators  in accordance  with the
              rules of the  American  Arbitration  Association  then in  effect.
              Judgement  may be  entered on the  arbitrators  award in any court
              having  jurisdiction.  The  expense of such  arbitration  shall be
              borne by the Company.

         (h)  Any notices, requests or other communications provided for by this
              Agreement  shall  be  sufficient  if in  writing  and if  sent  by
              registered or certified  mail to the Executive at the last address
              he has filed in writing  with the  Company  or, in the case of the
              Company, at its principal offices.

              IN WITNESS  WHEREOF,  the parties have executed  this Agreement on
         the day and year first above written.

                               Company:
ATTEST                         THE CHARLES SCHWAB CORPORATION

By: /s/ Mary B. Templeton         By: /s/ Luis E. Valencia
    -----------------------           ------------------------------------------
    Corporate Secretary        Title: Executive Vice President - Human Resources
                                      ------------------------------------------
                           Executive: /s/ Charles R. Schwab
                                      ------------------------------------------
                                      Charles R. Schwab

<PAGE>
<TABLE>
<CAPTION>

                                                                                                             EXHIBIT A

                                        Performance Standards and Target Incentive Matrix ($000)

                                                   Pre-Tax Profit Margin Percent*

                            less
                           than 7%        7%        10%        13%       15%        17%       20%       23%        25%
                        ----------------------------------------------------------------------------------------------
                    <S>       <C>     <C>        <C>       <C>        <C>       <C>       <C>       <C>       <C>
                    30%       $800    $1,625     $3,115    $5,120     $6,300    $7,415    $8,925    $10,950   $12,000
                        ----------------------------------------------------------------------------------------------
   Percent          25%        800     1,475      2,420     4,175      5,120     5,930     7,145      8,765     9,575
                        ----------------------------------------------------------------------------------------------
Annual Net          20%        800     1,340      1,880     3,500      4,175     4,715     6,200      7,550     8,360
                        ----------------------------------------------------------------------------------------------
   Revenue          15%        800     1,205      1,610     2,960      3,500     4,175     5,120      6,200     7,145
                        ----------------------------------------------------------------------------------------------
    Growth          10%        800     1,070      1,475     2,150      2,960     3,500     4,310      5,390     6,200
                        ----------------------------------------------------------------------------------------------
Over Prior           5%        800       900      1,070     1,475      2,150     2,960     3,500      4,590     5,525
                        ----------------------------------------------------------------------------------------------
      Year           0%        800       800        800     1,070      1,475     2,150     2,960      3,500     4,715
                        ----------------------------------------------------------------------------------------------
             (5%) to 0%        800       800        800       800        800     1,475     2,150      2,960     3,500
                        ----------------------------------------------------------------------------------------------
         less than (5)%        800       800        800       800        800       800       800        800       800
                        ----------------------------------------------------------------------------------------------

    *  All dollar amounts shown in the matrix are in thousands (000).

    In the matrix above,  where the value in any year is shown at an amount
    less than the  Executive's  actual base salary for that year, his total
    cash compensation  shall be no less than and no greater than his actual
    base salary.  If the Company's actual financial results are between the
    values shown here,  payments  earned will be calculated on the basis of
    an interpolated result. Pre-tax profit margin shall be determined on an
    LBO-adjusted basis.

</TABLE>

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