Document:

Exhibit 10.10

Exhibit 10.10

EMPLOYEE STOCK PURCHASE PLAN

(Amended and Current as of March 24, 2004)

ARTICLE I - General

1.1     The purpose of Photronics, Inc. Employee Stock Purchase Plan is to provide eligible employees
of the Company and its designated subsidiaries (if any) with an opportunity to acquire a proprietary interest in the Company by the
purchase of shares of the Common Stock of the Company directly from the Company through payroll deductions.  It is felt that
employee participation in the ownership of the Company will be to the mutual benefit of both the employees and the Company.

1.2     The Plan is intended to qualify as an "employee stock purchase plan" within the meaning of
Section 423 of the Internal Revenue Code of 1986, as amended (the "Code").   The provisions of the Plan shall, accordingly, be
construed so as to extend and/or limit eligibility and participation in a manner consistent, and so as to otherwise comply, with
the requirements of the Code.

1.3     Eligibility and participation in the Plan shall give any Employee only such rights as are set
forth in the Plan and any amendments hereto and shall in no way affect or in any manner limit the Company's right to discharge the
Employee, which right is expressly reserved by the Company, or impair the authority of the Plan Committee to limit the Employee's
rights, claims or causes, as provided in the Plan.

ARTICLE II - Definitions

2.1     The following words and phrases, when used in the Plan, shall have the following respective
meanings, unless the context clearly indicates otherwise:

"Authorized Leave of Absence"

Any leave of absence authorized under the Company's standard personnel practices, provided that all persons under similar
circumstances must be treated equally in the granting of such Authorized Leave of Absence and provided further that the person
returns to the employ of the Company upon the expiration of an Authorized Leave of Absence.

"Board of Directors"

The Board of Directors of Photronics, Inc.

"Code"

The Internal Revenue Code of 1986, as amended from time to time, and applicable Treasury Department regulations issued
thereunder.

"Common Stock"

The Common Stock, par value $0.01 per share, of the Company, or the securities adjusted or substituted therefor pursuant to
Article XIV.

"Company"

Photronics, Inc., a Connecticut corporation, or its successor or successors or any present or future subsidiary of Photronics,
Inc., which may be designated to participate in the Plan by the Board of Directors.

"Compensation"

The Compensation of an Eligible Employee shall be determined in accordance with procedures approved by the Plan Committee or
the Board of Directors.  In the absence of the adoption of specific procedures, Compensation of an Eligible Employee shall be
the annualized salary or wages of such Employee based on such Employee's current rate of pay and work schedule, but excluding any
discretionary overtime, sick pay, vacation pay or other benefits.

"Disability"

Disability shall have the same meaning set forth in Section 22(e)(3) of the Code or any successor provision thereto.  At
present, a disability is defined as a physical or mental impairment or incapacity which, in the opinion of a physician selected by
the Plan Committee, can be expected to result in death or has lasted or can be expected to last for a continuous period of at least
twelve (12) months and renders the Participant unable to engage in any substantial, gainful activity.

"Effective Date of the Plan"

The date on which the Plan shall have become effective pursuant to Article XVII, provided, however, that if the Plan shall not
be approved by the stockholders of the Company as provided in Article XVII, the Plan and all rights granted hereunder shall be, and
be deemed to have been, null and void.

"Eligible Employee"

An Employee who is eligible to participate in the Plan in accordance with provisions of Articles IV and V.

"Employee"

Any person who, on an Offering Date, is a common law employee of the Company and whose customary employment is for more than
twenty (20) hours per week and for more than five (5) months per calendar year, other than any highly compensated employees (within
the meaning of Section 414[q] of the Code or any successor provision thereto) of the Company who are excluded from participation
hereunder by action of the Board of Directors.  A person who is or has been on an Authorized Leave of Absence, and who in the
absence of such Authorized Leave of Absence would have been classified as an Employee, shall in the discretion of the Plan
Committee be considered to be an Employee, except to the extent that such determination is inconsistent with Section 423 of the
Code.  Such determination by the Plan Committee shall be final and conclusive.

"Offering"

An Offering in accordance with the provisions of Article V.

"Offering Date"

The date of an Offering as established by the Plan Committee pursuant to Section 5.1 hereof.

"Participant"

An Eligible Employee who subscribes for Shares pursuant to Article VI.

"Plan"

The Photronics, Inc. Employee Stock Purchase Plan set forth herein, as amended from time to time in accordance with the
provisions of Article XV.

"Plan Committee"

The committee provided for in Article XII to administer the Plan.

"Purchase Date"

A Purchase Date as provided in Sections 8.1 or 10.3, as appropriate.

"Shares"

Shares of Common Stock offered under the Plan.

     The masculine gender, whenever used in the Plan, shall be deemed to include the feminine gender,
and whenever the plural is used it shall include the singular, if the context so requires.

ARTICLE III - Shares Subject to the Plan

3.1     Subject to the provisions of Article XIV hereof, the aggregate number of shares of Common Stock
which may be issued under the Plan shall not exceed 900,000.  The aggregate number of such shares which may be issued with
respect to any Offering shall be determined by the Plan Committee with respect to such Offering.  Such shares may be
authorized but unissued shares of Common Stock or issued shares of Common Stock which are held by the Company.  Any shares
subscribed for under the Plan and not purchased as a result of the cancellation in whole or in part of such subscription shall
(unless the Plan shall have terminated) be again available for issuance under the Plan.

ARTICLE IV - Eligibility

4.1     Each Employee who has been continuously employed by the Company for the one complete calendar
month (or such longer period as may be determined by the Plan Committee) ending immediately prior to an Offering Date shall be
eligible to participate in the Offering under the Plan made on such Offering Date.

4.2     Notwithstanding the provisions of Section 4.1, no Employee shall be offered Shares if,
immediately after he would subscribe for such Shares, such Employee would own capital stock (including shares of Common Stock which
may be purchased under such subscription and under any other outstanding subscriptions under the Plan or options to purchase shares
of Common Stock of the Company held by such Employee, as computed in accordance with Section 423[b][3] of the Code or any successor
provision thereto) possessing 5% or more of the total combined voting power or value of all classes of stock of the Company. 
For purposes of determining the stock ownership of any Employee, the provisions of Section 424[d] of the Code shall apply.

ARTICLE V - Offering Under the Plan

5.1     Offerings under the Plan shall be made on such Offering Dates as shall be determined by the
Plan Committee.  Notwithstanding anything to the contrary, no Offering shall be made on any date prior to the date that a
required registration statement with respect to such Offering filed under the Securities Act of 1933, as amended, has become
effective.  Nothing contained herein shall be deemed to require that an Offering be made in any year.

5.2     [a]  Subject to the limitations set forth in Sections 5.2[b] and 6.3, and to the
other terms and conditions of the Plan, in each offering under the Plan, each Eligible Employee on an Offering Date shall be
offered the right during the Subscription Period as provided in Section 6.2, to subscribe to purchase such number of Shares as the
percentage designated by the Plan Committee for such offering (not to exceed 5%) of his Compensation would buy, at a price equal to
the product of (i) the fair market value of a Share on the Offering Date, multiplied by (ii) the Purchase Price percentage utilized
under Section 5.3 hereof.

          [b]  Notwithstanding anything to the contrary contained in
Sub-Section [a] of this Section 5.2, no Eligible Employee shall be eligible to subscribe for Shares in an Offering if, immediately
after he would subscribe for such Shares, such subscription would permit his rights to purchase shares of Common Stock under all
employee stock purchase plans of the Company to accrue at a rate which exceeds $25,000 (or such other maximum amounts as may be
prescribed from time to time under the Code) of the fair market value of such shares (determined as of the Offering Date for such
Offering) for each calendar year in which such subscription would be outstanding at any time.  For purposes of this limitation
the provisions of Section 423[b][8] of the Code shall be applicable.

5.3     The Purchase Price per share subscribed for all Shares in a particular Offering shall be an
amount equal to such percentages, not greater than 100% nor less than 85%, as shall be determined by the Plan Committee on or prior
to the Offering Date, of the fair market value of a share of Common Stock (determined in accordance with the provisions of Article
XIII) on one of the following dates with respect to such Offering, with such date to be determined by the Plan Committee on or
prior to the Offering Date: (i) the Offering Date, (ii) the Purchase Date, or (iii) the Offering Date or the Purchase Date
(whichever would result in a lower Purchase Price for the Common Stock).

5.4     In order to participate in any Offering, an Eligible Employee entitled to subscribe for Shares
in such Offering shall comply with the subscription procedures set forth in Article VI.

ARTICLE VI - Subscriptions for Shares

6.1     As soon as practicable after an Offering Date, the Company shall furnish to each Eligible
Employee a Subscription Agreement setting forth the maximum number of Shares to which such Eligible Employee may subscribe in such
Offering, the fair market value per share of Common Stock on the Offering Date, the Purchase Price for Shares in such Offering and
such other terms and conditions consistent with the Plan as shall be determined by the Plan Committee.

6.2     Within fifteen (15) days after receipt of such Subscription Agreement, an Eligible Employee
desiring to participate in the Offering shall notify the Plan Committee of the number of Shares for which he desires to
subscribe.  Such notification shall be effected by the Eligible Employee's completing, executing and returning to the
Secretary of the Company the Subscription Agreement.  All such subscriptions shall be deemed to have been made as of the
Offering Date.  No subscription shall be accepted from any person who is not an Eligible Employee on the date his subscription
is received by the Company.

6.3     The minimum number of Shares for which an Eligible Employee will be permitted to subscribe in
any Offering is ten (10) (or the number of Shares offered to him if fewer than ten).  If at any time the Shares available for
an Offering are oversubscribed, the Number of Shares for which each Eligible Employee is entitled to subscribe pursuant to Section
5.2 shall be reduced, pro rata, to such lower number as may be necessary to eliminate such over-subscription.

6.4     If an Eligible Employee fails to subscribe to the Shares within the period and in the manner
prescribed in Section 6.2, he shall waive all rights to purchase Shares in that Offering.

ARTICLE VII - Payment for Shares

7.1     The aggregate Purchase Price for the Shares for which a Participant subscribes in any Offering
in accordance with the provisions of Article VI of the Plan shall be paid by means of payroll deductions.

7.2     [a]  The aggregate Purchase Price for Shares shall be paid by payroll deductions in
equal amounts over a period of 24 months (or such shorter period as shall be determined by the Plan Committee in accordance with
the Plan) from the Offering Date.  The period over which such payroll deductions are to be made in hereinafter referred to as
the "Payment Period".

          [b]  Such payroll deductions with respect to an Offering
shall commence as soon as practicable after the receipt of the Company of the executed Subscription Agreement authorizing such
payroll deductions, and shall cease upon the earlier of the termination of the Payment Period or payment in full of the Purchase
Price for such Shares.  A Participant may cancel his subscription to the extent provided for in Article X, but no other change
in terms of his Subscription Agreement may be made during the Payment Period and, in particular, in no event may a Participant
change the amount of his payroll deductions under such Subscription Agreement.  All payroll deductions withheld from a
Participant under a Subscription Agreement shall be credited to his account under the Plan.  In the event that payroll
deductions are simultaneously being made with respect to more than one Subscription Agreement, the aggregate amount of such payroll
deductions at any payday shall be credited first toward the payment for Shares subscribed for in the earliest Offering.  A
Participant may not make any separate cash payment into his account, provided, however, that a Participant who has been deemed to
be in the employ of the Company while on an Authorized Leave of Absence without pay during the Payment Period, may upon his return
to the actual employ of the Company, make a cash payment into his account in an amount not exceeding the aggregate of the payroll
deductions which would have been made during such Authorized Leave of Absence.

          [c]  All funds representing payroll deductions for the
accounts of Participants will, except as provided in Section 7.3, be paid into the general funds of the Company.  No interest
will be paid or accrued under any circumstances on any funds withheld by the Company as payroll deductions pursuant to this Section
7.2 or on any other funds paid to the Company for purchases of Shares under the Plan.

7.3     Notwithstanding anything in this Article VII to the contrary, with respect to any Offering
which is made prior to the approval of the Plan by the stockholders of the Company, all payroll deductions withheld for the
accounts of Participants shall, until the Plan is approved by the stockholders, be held by the Company in a special escrow account
for the benefit of such Participants.  No interest will be paid or accrued under any circumstances on such funds.  No
Shares will be issued to such Participants until after approval of the Plan by the stockholders.  In the event that the Plan
is not approved by the stockholders within the period specified in Article XVII, all such funds will thereupon be promptly refunded
to the respective Participants.

7.4     Failure to pay for subscribed Shares as provided in this Article VII shall constitute the
cancellation of such subscription to the extent that any such Shares shall not have been so paid for.

ARTICLE VIII - Issuance of Shares

8.1     At the end of the Payment Period for an Offering, (each of which dates is referred to as a
"Purchase Date"), the balance of all amounts then held in the account of a Participant representing payroll deductions pursuant to
a Subscription Agreement shall be applied to the purchase by the Participant from the Company of the number of Shares equal to the
amount of such balance divided by the Purchase Price per share for such Shares applicable on such Purchase Date up to the number of
Shares provided for in the respective Subscription Agreement.  Any amount remaining in the Participant's account in excess of
the sum required to purchase whole Shares on a Purchase Date shall be promptly refunded to the Participant.  As soon as
practicable after a Purchase Date, the Company will issue and deliver to the Participant a certificate representing the Shares
purchased by him from the Company on such Purchase Date.  No fractional shares will be issued at any time.

8.2     A Participant who disposes (whether by sale, exchange, gift or otherwise) of any of the Shares
acquired by him pursuant to the Plan within two (2) years after the Offering Date for such Shares or within one (1) year after the
issuance of Shares to him shall notify the Company in writing of such disposition within thirty (30) days after such
disposition.

ARTICLE IX - Rights of Stockholders

9.1     A Participant shall not have any rights to dividends or any other rights as a stockholder of
the Company with respect to any Shares until such Shares shall have been issued to him as reflected by the books and records
maintained by the Company's transfer agent relating to stockholders of the Company.

ARTICLE X - Voluntary Withdrawal/Termination of Employment

10.1    A Participant may discontinue his payroll deductions under a Subscription Agreement at any time by
giving written notice thereof to the Plan Committee, effective for all payroll periods commencing five (5) days after receipt of
such notice by the Plan Committee.  The balance in the account of such Participant following such discontinuance shall be
promptly refunded to the Participant.  Withdrawal from an Offering pursuant to this Section 10.1 shall not affect an Eligible
Employee's eligibility to participate in any other Offering under the Plan.

10.2    If the Participant's employment with the Company is terminated for any reason other than death while
still an Employee, such Participant's rights to purchase Shares under any Subscription Agreement shall immediately terminate. 
Any balance remaining in his account as of the date of such termination of employment shall be promptly refunded to the
Participant.

10.3    In the event of the death of an Employee who was a Participant prior to the purchase of the Shares
for which he subscribed pursuant to Article VI hereof, the person or persons who acquired by laws of descent and distribution (his
"Estate") his rights to purchase Shares under his Subscription Agreement(s), shall have the right within ninety (90) days after the
death of the Participant (but in no event later than the termination of the Payment Period) to purchase from the Company that
number of Shares subscribed for and not issued to the Participant prior to his death which the balance in the Participant's payroll
deduction account is sufficient to purchase.  The failure of the person or persons so acquiring his rights to so give notice
of intention to purchase shall constitute a forfeiture of all further rights of the Participant or other persons to purchase such
Shares and in such event, the balance in the Participant's payroll deduction account will be refunded, without interest.  If
the Participant dies more than fifty (50) days prior to the termination of the Payment Period and his Estate elects to purchase the
Shares subscribed for, the Purchase Price for his Shares shall be the percentage, designated pursuant to Section 5.3, of the fair
market value on the Offering Date, irrespective of the Purchase Price for other Participants.

ARTICLE XI - Non-Transferability of Subscription Rights

11.1    During the lifetime of a Participant, the Shares for which he subscribes may be purchased only by
him.  No Subscription Agreement of a Participant and no right under or interest in the Plan or any such Subscription Agreement
(hereinafter collectively referred to as "Subscription Rights") may be assigned, transferred, pledged, hypothecated or disposed of
in any way (whether by operation of law or otherwise), except by the Participant's will or by the applicable laws of descent and
distribution, or may be subject to execution, attachment or similar process.  Any assignment, transfer, pledge, hypothecation
or other disposition of Subscription Rights, or any levy of execution, attachment or other process attempted upon Subscription
Rights, shall be null and void and without effect, and in any such event all Subscription Rights shall, in the sole discretion of
the Plan Committee (exercised by written notice to the Participant or to the person then entitled to purchase the Shares under the
provisions of Sections 10.3 hereof), terminate as of the occurrence of any such event.

ARTICLE XII - Administration of the Plan

12.1    The Plan shall be administered by a Plan Committee which shall consist of two (2) or more members of
the Board of Directors, none of whom shall be eligible to participate in the Plan.  The members of the Plan Committee shall be
appointed, and may be removed, by the Board of Directors.  The Board of Directors shall have the power to remove and
substitute for members of the Plan Committee and to fill any vacancy which may occur in the Plan Committee.

12.2    Unless otherwise determined by the Board of Directors, the members of the Plan Committee shall serve
without additional compensation for their services.  All expenses in connection with the administration of the Plan,
including, but not limited to, clerical, legal and accounting fees, and other costs of administration, shall be paid by the
Company.

12.3    The Chairman of the Plan Committee shall be designated by the Board of Directors.  The Plan
Committee shall select a Secretary who need not be a member of the Plan Committee.  The Secretary, or in his absence, any
member of the Plan Committee designated by the Chairman, shall keep the minutes of the proceedings of the Plan Committee and all
data, records and documents relating to the administration of the Plan by the Plan Committee.

12.4    A quorum of the Plan Committee shall be such number as the Committee shall from time to time
determine, but shall not be less than a majority of the entire Plan Committee.  The acts of a majority of the members of the
Plan Committee present at any meeting at which a quorum is present shall be the act of the Plan Committee.  Members of the
Plan Committee may participate in a meeting by means of telephone conference or similar communications procedure pursuant to which
all persons participating in the meeting can hear each other.  The Plan Committee may take action without a meeting if such
action is evidenced by a writing signed by at least a majority of the entire Plan Committee.

12.5    The Plan Committee may, by an instrument in writing, delegate to one or more of its members or to an
officer or officers of the Company any of its powers and its authority under the Plan, including the execution and delivery on its
behalf of instruments, instructions and other documents.

12.6    It shall be the sole and exclusive duty and authority of the Plan Committee to interpret and
construe the provisions of the Plan, to decide any disputes which may arise with regard to the status, eligibility and rights of
Employees under the terms of the Plan, and any other persons claiming an interest under the terms of the Plan, and, in general, to
direct the administration of the Plan.

12.7    The Plan Committee may adopt, and from time to time amend, such rules and regulations consistent
with the purposes and provisions of the Plan, as it deems necessary or advisable to administer and effectuate the Plan.

12.8    The Plan Committee may shorten, lengthen (but not beyond thirty (30) days) or waive the time
required by the Plan for the filing of any notice or other form under the Plan.

12.9    The discretionary powers granted hereunder to the Plan Committee shall in no event be exercised in
any manner that will discriminate against individual employees or a class of employees or discriminate in favor of employees who
are shareholders, officers, supervisors or highly compensated employees of the Company.

ARTICLE XIII - Valuation of Shares of Common Stock

13.1    For purposes of the Plan, the "fair market value" of a share of Common Stock as of any date shall be
determined as follows:

          [a]  If the Common Stock is then listed on a national
securities exchange, the "fair market value" shall be the closing price of a share of Common Stock on such exchange on such date,
or, if there has been no sale of shares of Common Stock on that date, the closing price of a share of Common Stock on such exchange
on the last preceding business day on which shares of Common Stock were traded.

          [b]  If the Common Stock is then listed on the National
Association of Securities Dealers Automatic Quotation System National Market System, the "fair market value" shall be the average
of the high and low sales prices of a share of Common Stock on that date, or if there has been no sale of shares of Common Stock on
that date, the average of the high and low sales prices of Common Stock on the last preceding business day on which shares of
Common Stock were traded.

ARTICLE XIV - Adjustments in Certain Events

14.1    If (i) the Company shall at any time be involved in a transaction to which sub-section [a] of
Section 424 of the Code is applicable, (ii) the Company shall declare a dividend payable in, or shall sub-divide or combine, its
Common Stock, or (iii) any other event shall occur which in the judgment of the Board of Directors necessitates action by way of
adjusting the terms of the outstanding Subscription Agreements, the Board of Directors shall take any such action as in its
judgment shall be appropriate to preserve Participant rights substantially proportionate to the rights existing prior to such
event.  To the extent that such action shall include an increase or decrease in the number of shares of Common Stock subject
to outstanding Subscription Agreements, the aggregate number of shares available under Article III hereof for issuance under the
Plan pursuant to outstanding Subscription Agreements and Subscription Agreements which may be entered into, and the aggregate
number of shares available for issuance in any Offering and the number which may be subscribed for, shall be proportionately
increased or decreased, as the case may be.  No action shall be taken by the Board of Directors under the provisions of this
Article XIV which, in its judgment, would constitute a modification, extension or renewal of the Subscription Agreement (within the
meaning of Section 424[h] of the Code), or would prevent the Plan from qualifying as an "employee stock purchase plan" (within the
meaning of Section 423 of the Code).  The determination of the Board of Directors with respect to any matter referred to in
this Article XIV shall be conclusive and binding upon each Participant.

ARTICLE XV - Termination and Amendment of the Plan

15.1    The Board of Directors may, without further approval by the stockholders of the Company, at any time
terminate or amend the Plan without notice, or make such modifications of the Plan as it shall deem advisable; provided that the
Board of Directors may not, without prior approval by the holders of a majority of the outstanding shares of Common Stock of the
Company, amend or modify the Plan so as to (i) increase the maximum number of shares of Common Stock which may be issued under the
Plan (except as contemplated in Article XIV hereof), (ii) extend the term during which Offerings may be made under the Plan or
(iii) increase the maximum number of Shares which an Eligible Employee is entitled to purchase (except as contemplated in Article
XIV hereof); and provided further that the Board of Directors may not amend or modify the Plan in any manner which would prevent
the Plan from qualifying as an "employee stock purchase plan" (within the meaning of Section 423 of the Code).  No
termination, amendment or modification of the Plan may, without the consent of a Participant, adversely affect the rights of such
Participant under an outstanding Subscription Agreement.

ARTICLE XVI - Miscellaneous

16.1    Unless otherwise expressly provided in the Plan, all notices or other communications by a
Participant to the Company under or in connection with the Plan shall be deemed to have been duly given when received by the
Secretary of the Company or when received in the form specified by the Company at the location and by the persons, designated by
the Company for the receipt thereof.

16.2     Notwithstanding anything hereunder to the contrary, the offer, sale and delivery by the
Company of Shares under the Plan to any Eligible Employee is subject to compliance with all applicable securities regulation and
other federal and state laws.  The terms of this Plan shall be construed under the laws of the State of Connecticut.

ARTICLE XVII - Effective Date

17.1    The Plan shall become effective at such time as the Plan has been adopted by the Board of Directors
or such later date as shall be designated by the Board of Directors upon its adoption of the Plan; provided, however, that the Plan
and all Subscription Agreements entered into thereunder shall be, and be deemed to have been, null and void if the Plan is not
approved by the holders of a majority of the outstanding shares of Common Stock of the Company within twelve (12) months after the
date on which the Plan is adopted by the Board of Directors.Exhibit 10.13

Exhibit 10.13

PHOTRONICS, INC.

1996 STOCK OPTION PLAN

(as Amended on March 13, 2003)

(1)  PURPOSES OF THE PLAN

      The purposes of this 1996 Stock Option Plan are:

      (a)  to attract and retain the best available personnel for positions of
substantial responsibility (both as Employees and as Outside Directors) in respect of the business of PHOTRONICS, INC., and any
current subsidiary or any subsidiary which PHOTRONICS, INC. may hereafter organize or acquire;

      (b)  to provide additional incentive to such personnel; and

      (c)  to promote the success of the business.

(2)  DEFINITIONS

      As used herein, the following definitions shall apply:

      (a) "Board"  shall mean the Board of Directors of PHOTRONICS,
INC.

      (b) "Code  shall mean the Internal Revenue Code of 1986, as
amended.

      (c) "Compensation Committee"  shall mean a committee of the Board
composed of at least two (2) members of the Board who may be "disinterested persons" as defined in Rule 16b-3(c)(2) promulgated
under the Securities Exchange Act of 1934, as amended (the "Act"), or any successor provision thereto.

      (d) "Common Stock"  shall mean the Common Stock of the Company.

      (e) "Company"  shall mean PHOTRONICS, INC.

      (f) "Outside Director"  shall mean a member of the Company's Board
of Directors who is not also an Employee.

      (g) "Disability"  shall have the meaning set forth in Section
22(e)(3) of the Code or in any successor provision thereto.

      (h) "Employee"  shall mean a regular, salaried common law employee
of the Company or any of its subsidiaries.

      (i) "Option"  shall mean a stock option granted pursuant to the
Plan.

      (j) "Option Agreement"  shall mean the Stock Option Agreement
entered into between the Company and an Employee or Outside Director upon the grant of an Option.

      (k) "Option Price"  shall mean the exercise price determined
pursuant to Section 4 hereof for the Shares to be issued pursuant to any Option granted under the Plan.

      (l) "Optioned Stock"  shall mean the stock subject to an Option or
Restricted Stock Award granted pursuant to the Plan.

      (m) "Optionee"  shall mean an Employee or Outside Director who
receives an Option or Restricted Stock Award.

      (n) "Performance Stock Option"  means an Option which is subject to
conditions which render it a Performance Stock Option under applicable law.

      (o) "Plan"  shall mean this 1996 Stock Option Plan.

      (p) "Restricted Stock Award"  means a restricted stock award granted
pursuant to the Plan.

      (q) "Restricted Stock AwardAgreement"  means the
Restricted Stock Award Agreement entered into between the Company and an Employee or Outside Director upon the grant of a
Restricted Stock Award.

      (r) "Share"  shall mean a share of the Common Stock of the Company
as adjusted in accordance with Section 14 of the Plan.

      (s) "10% Shareholder"  shall mean an individual who at the time an
Option is granted hereunder owns, within the meaning of Section 422(b)(6) of the Code, stock possessing more than 10% of the total
combined voting power of all classes of stock of the Company or of its parent or subsidiary corporations.

(3)  STOCK SUBJECT TO THE PLAN

      Subject to the provisions of Section 14 of the Plan, the maximum aggregate number of Shares
which may be optioned and sold or which may be issued and not subsequently forfeited pursuant to Restricted Stock Awards under the
Plan, is six hundred thousand (600,000) Shares of the Common Stock of the Company provided, that no more than ten percent (10%) of
the Shares authorized for issuance under this Plan may be issued pursuant to Restricted Stock Awards and no more than fifteen
percent (15%) of the Shares authorized for issuance under this Plan may be issued to any one person during any one calendar
year.  Such Shares may be authorized but unissued or may be treasury shares.

      If an Option should expire or become unexercisable for any reason without having been
exercised in full or any shares issued pursuant to a Restricted Stock Award are forfeited, the unpurchased or forfeited Shares
which were subject thereto shall, unless the Plan shall have been terminated, become available for other Option(s) or Restricted
Stock Awards under the Plan.

(4)  ADMINISTRATION OF THE PLAN

      (a)  Procedure - The Plan shall be administered by the Board or the
Compensation Committee.  Members of the Board who are either eligible for grants under this Plan or have been given grants
under this Plan may vote on any matters affecting the administration of the Plan or the grant of any Options or Restricted Stock
Awards pursuant to the Plan, except that no such member shall act upon the granting of an Option or Restricted Stock Award to
himself, but any such member may be counted in determining the existence of a quorum at any meeting of the Board during which
action is taken with respect to the granting of Options or Restricted Stock Awards to him.

      (b)  Powers of the Board and the Committee - Subject to the provisions of
the Plan, the Board or the Compensation Committee shall have the authority:

             i) to grant to any eligible Employee or Outside
Director an Option or Restricted Stock Award, which shall be conditioned on the execution by such Employee or Outside Director of
an Option Agreement or Restricted Stock Award Agreement in the form approved by the Board or the Committee;

             ii) to determine the Option Price for any Shares
to be issued pursuant to an Option granted under the Plan, whether an Option is to be a Performance Stock Option and the conditions
applicable to such Options, the conditions applicable to any Restricted Stock Award, the Employees or Outside Directors to whom and
the time or times at which Options or Restricted Stock Awards shall be granted, to determine the exercise or vesting date of
Options and Restricted Stock Awards (provided that in no event shall more than one-third (1/3) of the Options or Restricted Stock
Awards included in any one grant be exercisable or vest prior to the first anniversary of the date of grant and an additional
one-third (1/3) of such Options or Restricted Stock Awards be exercisable or vest on each of the second and third anniversaries of
the date of grant except pursuant to the provisions of Section 16, whether the Option shall be a non-qualified or an incentive
stock option (as defined in Section 422 of the Code or any successor provision thereto) and the number of Shares to be represented
by each Option or Restricted Stock Award, and the term of each Option which in no event shall be more than ten (10) years from the
date of the grant of the Option (five [5] years in the case of an incentive stock option granted to a 10% owner);

             iii) to interpret the Plan;

             iv) to prescribe, amend and rescind rules and
regulations relating to the Plan;

             v) to determine the terms and provisions of each
Option granted under the Plan (which need not be identical) and, with the consent of the holder thereof, to modify or amend each
Option or Restricted Stock Award; provided, however, that in no event may the exercise price of an Option be reduced (except
pursuant to Section 14) after it is issued;

             vi) subject to the provisions of sub-section (ii),
above, to accelerate any exercise date of any Option or Restricted Stock Award except that the exercise date of any Option or
Restricted Stock Award granted to any director or executive officer cannot be accelerated without such holder's consent if such
acceleration would result in liability under Section 16 of the Act, or any successor provision thereto;

             vii) to authorize any person to execute on behalf
of the Company any instrument required to effectuate the grant of an Option or Restricted Stock Award previously granted by the
Board or the Compensation Committee; and

             viii) to make all other determinations deemed
necessary or advisable for the administration of the Plan.

      (c)  Effect of Board's or Compensation Committee's Decision - All decisions,
determinations and interpretations of the Board or the Compensation Committee shall be final and binding on all Optionees and any
other holders of any Options granted under the Plan.

(5)  ELIGIBILITY

      Options and Restricted Stock Awards under the Plan may be granted only to such Employees or
to such Outside Directors as the Board or the Compensation Committee shall select.  An Employee or Outside Director who has
been granted an Option or Restricted Stock Award may, if he is otherwise eligible, be granted additional Options or Restricted
Stock Awards.  Incentive stock options may be granted only to an "employee" of the Company, as that term is used Section 422
of the Code or any successor provision thereto.  No incentive stock option may be granted to a 10% Shareholder unless the
Option Price is at least 110% of the fair market value of such stock on date of grant and the term of such option does not exceed
five (5) years.

(6)  TERM OF PLAN

      Subject to the provisions of Section 22 hereof, the Plan shall become effective on adoption
by the Board.  The Plan shall continue in effect for a term of ten (10) years unless sooner terminated under Section 18
hereof.

(7)  TERM OF OPTION OR RESTRICTED STOCK AWARD

      Except as provided under Code Section 422(c)(5) with respect to a 10% Shareholder's
incentive stock option and unless of shorter duration as provided in the terms of an Option or Restricted Stock Award Agreement,
the term of each Option or forfeiture period for a Restricted Stock Award granted under the Plan shall be determined by the Board
or the Compensation Committee but, in no event, shall it be for a period in excess of ten (10) years from the date of grant
thereof.

(8)  MAXIMUM ALLOTMENT OF OPTIONS

      The aggregate fair market value (determined as of the date the Option is granted) of the
Common Stock with respect to which incentive stock options are exercisable for the first time by any individual during any calendar
year under the Plan and all other plans of the Company or any parent or subsidiary of the Company shall not exceed $100,000 or such
other amount as is permitted by the Code.

(9)  OPTION PRICE

      The Option Price for the Shares to be issued pursuant to any Option shall be as stated in
the Option Agreement and shall be not less than the greater of (a) the fair market value of such Shares on date of grant of the
Option as determined by the Board or the Compensation Committee (except that with respect to an incentive stock option issued to a
10% Shareholder, 110% of the fair market value), or (b) the par value of such Shares.  Except pursuant to Section 14, in no
event shall the Option Price for an Option be reduced after it is issued.

(10)  EXERCISE OF OPTIONS

        (a)  Procedure for Exercise - Any Option shall be exercisable
on such terms and conditions as are set forth in the Option Agreement.  The purchase price of the Shares as to which an Option
shall be exercised shall be paid in full at the time of exercise at the election of the holder of an Option:

               i) in cash or currency of the United
States of America;

               ii)  by tendering to the
Company shares of the Company's Common Stock, then owned by him, having a fair market value equal to the cash exercise price
applicable to the purchase price of the Shares as to which an Option is being exercised;

               iii)  partly in cash and
partly in shares of the Company's Common Stock valued at fair market value; or

               iv)  Subject to compliance
with applicable law, including, without limitation, Section 402 of the Sarbanes-Oxley Act of 2002, by delivery of a properly
completed exercise notice together with irrevocable instructions to a broker (in form and substance acceptable to the Company) to
promptly deliver to the Company the amount of sale or loan proceeds required to pay the purchase price and any applicable
withholding taxes.

     Such fair market value shall be determined as of the close of the business day immediately
preceding the day on which the Option is exercised by the Board or the Compensation Committee, whose determination shall be final
and conclusive.  An Option shall be deemed to be exercised when:

             i)  written notice of such exercise has
been given to the Company in accordance with the terms of the Option Agreement by the person entitled to exercise the Option;

             ii)  payment as described above for the
Shares with respect to which the Option is exercised has been received by the Company; and

             iii)  such payment is accompanied by any
representations or agreements required by the terms of this Plan or the Option Agreement.

     A holder of an Option shall not have any rights to dividends or any other rights as a stockholder
of the Company with respect to any shares covered by his Option until such shares shall have been issued to him as reflected by the
books and records maintained by the Company's transfer agent relating to stockholders of the Company.

          (b)   Termination of Employment or Director
Relationship/Death or Disability of Optionee

                 (i)  Except as
otherwise provided pursuant to (ii) below or by the Board or the Compensation Committee, if, for any reason, an Optionee shall
cease to be an Employee or an Outside Director's service on the Board shall terminate, his or her right to exercise any
non-qualified stock options shall cease thirty (30) days after the date of such termination; provided, however, that if an
Employee's employment is terminated for cause or an outside Director's service is terminated due to his or her removal for cause,
said Option shall terminate immediately. The Plan shall not confer upon any Optionee any right with respect to continuation of
employment or consulting, or continuation of service as an Outside Director, nor shall it interfere in any way with his right or
the Company's right to terminate such relationship at any time subject to the provisions of any applicable contract. Except as
otherwise provided by the Board or the Compensation Committee, an option may be exercised under this paragraph only to the extent
of the accrued right to exercise at the time of termination, and only to the extent that the Option is otherwise exercisable
pursuant to the initial term provided for in the Option Agreement covering such Option.

               (ii) In the event of the death or
disability of an Optionee, any non-qualified stock options which were exercisable by the Optionee on the date of his death or
disability shall remain exercisable for a period of six (6) months by the Optionee, the Optionee's estate or by a person who
acquired the right to exercise the Option by bequest or inheritance.  An Option may be exercised under this paragraph only to
the extent of the accrued right to exercise at the time of death or disability, as the case may be, and only to the extent that the
Option is otherwise exercisable pursuant to its initial term.

(11)  NON-TRANSFERABILITY OF OPTIONS AND RESTRICTED STOCK AWARDS

     The Option and, unless and until the shares subject to a Restricted Stock Award are no longer
subject to forfeiture, shares subject to a Restricted Stock Award may not be sold, pledged, assigned, hypothecated, transferred or
disposed of in any manner other than by will or by the laws of descent or distribution and an Option may be exercised during the
lifetime of the Optionee only by the Optionee.

(12)  RESTRICTED STOCK AWARD

     The Shares subject to a Restricted Stock Award shall be issued in the name of the recipient as
soon as reasonably practicable after the date of grant of the Restricted Stock Award (and after the recipient has executed a
Restricted Stock Award Agreement and any other documents which the Board or the Compensation Committee, in its absolute discretion,
may require) without the requirement for payment of any cash consideration by such recipient, but shall be held by the Company
until all risk of forfeiture shall have lapsed.  Any certificate representing such Shares may bear such restrictive legend, if
any, as the Board or the Compensation Committee may determine.  Shares issued pursuant to Restricted Stock Awards shall be
subject to such restrictions, terms and conditions as the Board or the Compensation Committee may establish, which may include,
without limitation, the achievement of specific goals, and shall vest at such time or times as the Board or the Compensation
Committee shall determine.  The Board or the Compensation Committee may, in their sole discretion, make such adjustments to
the goals applicable to a Restricted Stock Award as they deem necessary or advisable due to changes in criteria used for the
specific goals or other factors which they deem appropriate.

     Upon issuance of the Shares subject to a Restricted Stock Award, the recipient shall, subject to
Section ll, have all the rights of a stockholder with respect to such Shares, including the right to vote such Shares, but all
dividends and other distributions paid or made with respect to such Shares shall be held by the Company subject to the
restrictions, terms and conditions of the Restricted Stock Award.

     As promptly as practicable after the shares of Common Stock subject to a Restricted Stock Award,
cease to be subject to forfeiture, the certificate representing such Shares, or a new certificate without any inapplicable
restrictive legend if the original certificate bore a restrictive legend, shall be delivered to the recipient or, in the event of
the death of a recipient prior to delivery, to his personal representative.

     In the event of the termination of employment of a recipient of a Restricted Stock Award with the
consent of the Company or due to death, disability or normal retirement, the Board or the Compensation Committee may, in its sole
discretion, deem that the restrictions, terms and conditions of the Restricted Stock Award have been met for all or part of the
Shares subject thereto, subject to such further terms and conditions, if any, as the Board or the Compensation Committee may
determine.

(13)  FORFEITURE OF OPTIONS AND REPAYMENT OF MARKET VALUE OF OPTIONS OR AWARDS

     If, at any time within one (1) year after an Optionee ceases to be an Employee or Outside
Director, such Optionee engages in any activity in competition with any activity of the Company, or inimical, contrary or harmful
to the interests of the Company, including, but not limited to:

     (a) conduct related to such Optionee's employment for which either criminal or civil penalties
against the Optionee may be sought;

     (b) violation of Company policies, including, without limitation, the Company's insider trading
policy;

     (c) accepting employment with or serving as a consultant, advisor or in any other capacity to an
employer that is in competition with or acting against the interests of the Company, including employing or recruiting any present,
former or future employee of the Company;

     (d) disclosing or mis-using any confidential information or material concerning the Company;
or,

     (e) participating in a hostile takeover attempt, then:

           i) Options and Restricted Stock Awards shall terminate
effective the date on which such Optionee enters into such activity, unless terminated sooner by operation of another term or
condition of this Plan;

           ii) the aggregate difference between the exercise price of
Options exercised within one (1) year of the date (the "Termination Date") Optionee ceased to be an Employee or Outside Consultant
and the closing market value of the Shares covered by such Options; and

           iii) the aggregate of the closing market value for all Shares
subject to Restricted Stock Awards as to which forfeiture provision expired within one (1) year prior to the Termination Date shall
be paid by the Optionee to the Company.

     By accepting any Option or Restricted Stock Award, each Optionee consents to a deduction from any
amounts the Company owes such Optionee from time to time (including amounts owed as wages or other compensation, fringe benefits or
vacation pay, as well as any other amounts owed by the Company), to the extent of the amounts the Optionee owes the Company under
the foregoing paragraph.  Whether or not the Company elects to make any set-off in whole or in part, if the company does not
recover by means of set-off the full amount the Optionee owes it, calculated as set forth above, each Optionee agrees to pay
immediately the unpaid balance to the Company.  Optionees may be released from their obligations under this Section above only
by the Board of Directors or the Compensation Committee.

(14)  ADJUSTMENTS UPON CHANGES IN CAPITALIZATION

     In the event there is any change in the Common Stock through the declaration of stock dividends,
or through a recapitalization resulting in a stock split, or combination or exchange of Shares, or reorganization, or otherwise,
the Board or the Compensation Committee shall appropriately adjust the number or class of Shares covered by any Option or
Restricted Stock Award, as well as the price to be paid therefore; and, in the event of any such change in the outstanding Common
Stock, the aggregate number and class of Shares available under the Plan shall be appropriately  adjusted.

     No fractional Shares of the Common Stock shall be issuable on account of any action aforesaid, and
the aggregate number of Shares then covered by the Option or Restricted Stock Award when changed as a result of such action shall
be reduced to the largest number of whole Shares resulting from such action unless the Board or the Compensation Committee, in its
discretion, shall determine to issue scrip certificates in respect of any fractional Shares, which scrip certificates shall be in a
form and have such terms and conditions as the Board or the Compensation Committee in its discretion shall prescribe.

(15)  MERGER, CONSOLIDATION, ETC.

     In the event that any consolidation of the Company with, or merger of the Company into, any other
corporation (other than a consolidation or merger in which the Company is the continuing corporation) or any sale or transfer of
all or substantially all of the assets of the Company is contemplated, the Board may provide that any Optionee shall be given the
opportunity to exercise any and all Options which such Optionee then holds prior to such consolidation, merger or sale of assets
and, notwithstanding any provisions of this Plan or of an Option Agreement to the contrary, the exercisability of such Option shall
be accelerated as appropriate to allow for such exercise and the Board may terminate each outstanding Option as of a date to be
fixed by the Board or Compensation Committee, which shall not be earlier than five (5) days after the date such Options become
exercisable.

(16)  WITHHOLDING TAX

     The Company may make such provisions (including accepting Shares as payment or reducing the number
of Shares to be issued) as it may deem appropriate for the withholding of any taxes which the Company determines it is required to
withhold in connection with the grant or exercise of any Option or Restricted Stock Award or the disposition of any Common Stock
acquired pursuant to the exercise of an Option or Restricted Stock Award.  If an Optionee who exercises all or part of an
Option subsequently disposes of Common Stock in a "disqualifying disposition" described under Code Section 422(c)(2), such Optionee
shall so notify the Company, forward such information as is thereby requested by the Company and, if so requested by the Company,
pay to the Company such dollar amounts as are necessary to satisfy the Company's tax withholding obligations resulting from such
disposition.

(17)  TIME OF GRANTING OPTIONS

     The date of grant of an Option or Restricted Stock Award under the Plan shall for all purposes be
the date on which the Board or Compensation Committee makes the determination granting such Option or Restricted Stock Award. 
Notice of the determination shall be given to the Optionee within a reasonable time after the date of such grant.

(18)  AMENDMENT AND TERMINATION OF THE PLAN

      (a)  Amendment - The Board, without approval of the shareholders, may amend
the Plan from time to time in such respects as the Board may deem advisable except that the Board may not, except with approval of
the shareholders, amend the eligibility requirements of this Plan or increase the number of shares subject to this Plan except as
permitted by Section 14.

      (b)  Termination - The Board, without approval of the shareholders, may at
any time terminate the Plan.

      (c)  Effect of Amendment or Termination - Any such amendment or termination
of the Plan shall not affect Options or Restricted Stock Awards already granted, and such Options or Restricted Stock Awards shall
remain in full force and effect as if this Plan had not been amended or terminated and shall be deemed to incorporate the terms of
this Plan as it existed on the dates the Options or Restricted Stock Awards were granted.

(19)  CONDITIONS UPON ISSUANCE OF SHARES

     Shares shall not be issued with respect to an Option or Restricted Stock Award granted under the
Plan unless the exercise of such Option or termination of the forfeiture period for such Restricted Stock Award and the issuance
and delivery of such Shares pursuant thereto shall comply with all relevant provisions of law, including, without limitation, the
Securities Act of 1933, as amended, the Act, the rules and regulations promulgated thereunder, the requirements of any stock
exchange upon which the Shares may then be listed, and applicable state securities laws, and shall be further subject to the
approval of counsel for the Company with respect to such compliance.

     As a condition to the exercise of an Option, the Company may require the person exercising such
Option to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and
without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a
representation is necessary or desirable under any of the aforementioned relevant provisions of law.

(20)  RESERVATION OF SHARES

     During the terms of this Plan, the Company will at all times reserve and keep available a number
of Shares sufficient to satisfy the requirements of the Plan.

     Inability of the Company to obtain from any regulatory body having jurisdiction such authority as
is deemed by the Company's counsel to be necessary to the lawful issuance and sale of any Shares hereunder shall relieve the
Company of any liability in respect of the non-issuance or sale of such Shares as to which such requisite authority shall not have
been obtained.

(21)  GOVERNING LAW

     The Plan and the rights of all persons hereunder shall be governed by the laws of the State of
Connecticut, without regard to principles of conflict of laws.

(22)  MISCELLANEOUS

         Participation under the Plan shall not affect eligibility for any
profit-sharing, bonus, insurance, pension, or other extra compensation plan which the Company or any subsidiary may at any time
adopt for employees, except to the extent that any law or regulation governing any such plan so provides.  By acceptance of a
grant of an Option or Restricted Stock Award under the Plan, each employee shall be deemed to agree that any income realized upon
the receipt or exercise thereof or upon the disposition of the shares received pursuant thereto is special incentive compensation
and will not be taken into account as "wages", "salary" or "compensation" in determining the amount of any payment under any
pension, retirement, incentive, profit-sharing, employee stock purchase or deferred compensation plan of the Company or any
subsidiary.

(23)  SHAREHOLDER'S APPROVAL

        The Plan shall be subject to approval by the affirmative vote of the holders of
a majority of the shares of Common Stock present and voting at a duly held shareholders' meeting within twelve (12) months before
or after adoption of the Plan by the Board and any Option or Restricted Stock Award, granted hereunder prior to such approval shall
be conditioned thereon.

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