Document:

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                     INTERNATIONAL FLAVORS & FRAGRANCES INC.

                      2000 STOCK AWARD AND INCENTIVE PLAN,
                             AS AMENDED AND RESTATED

                      PERFORMANCE INCENTIVE AWARD AGREEMENT

     1. GRANT OF PERFORMANCE INCENTIVE AWARD. This Performance Incentive Award
Agreement (the "Agreement") confirms the grant, effective August 1, 2002 (the
"Grant Date") by INTERNATIONAL FLAVORS & FRAGRANCES INC., a New York corporation
(the "Company" or "IFF"), to Richard A. Goldstein ("Employee") of a Performance
Incentive Award (the "Award"). The purpose of the Award is (i) to drive superior
long-term corporate performance and shareholder value on behalf of IFF's owners,
and (ii) to retain and reward the Chief Executive Officer for such performance
over the next five years. The Award constitutes a grant of 200,000 shares of
Restricted Stock (the "Restricted Stock") under Section 6(d) of the Company's
2000 Stock Award and Incentive Plan, as amended and restated (the "Plan"),
subject to performance conditions under Section 7(b) of the Plan and as
specified herein.

     2. PERFORMANCE AND VESTING REQUIREMENTS.

     (a) Earning and Vesting of Restricted Stock: The Restricted Stock will be
(i) earned based on the future performance of the Company, and (ii) vest based
on Employee's future service to the Company. If not both earned and vested, the
Restricted Stock will be forfeited as provided herein.

     Restricted Stock will be earned at the specified Performance/Vesting Date
if the Total Shareholder Return ("TSR") (as defined below) of the Company,
measured from the Grant Date to the Performance/ Vesting Date, exceeds the 50th
percentile or the 75th percentile of the Comparison Group (as defined below), as
follows:

        Number of Shares of Restricted Stock Earned Based on Performance
        ----------------------------------------------------------------

     Performance/      IFF TSR Exceeds 50th            IFF TSR Exceeds
     Vesting Date      Up to 75th Percentile           75th Percentile
     ------------      ---------------------           ---------------

     July 31, 2005         25,000                           50,000
     July 31, 2006         25,000                           50,000
     July 31, 2007     50,000 plus 50% of              100,000 plus all Unearned
                       Unearned Restricted Stock       Restricted Stock

The foregoing notwithstanding, no Restricted Stock will be earned at any
Performance/Vesting Date if the Company's TSR is negative, unless otherwise
determined by the Committee. "Unearned Restricted Stock" means shares of
Restricted Stock that were potentially earnable at July 31, 2005 or July 31,
2006 but

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which were not earned based on the Company's TSR performance at those dates. For
example, if Company TSR performance placed it at the 40th Percentile on July 31,
2005, and at the 60th Percentile on each of July 31, 2006 and July 31, 2007, a
total of 75,000 shares of Unearned Restricted Stock would remain immediately
prior to July 31, 2007, at which date a total of 87,500 shares of Restricted
Stock would be earned (50,000 shares plus one-half of the 75,000 shares of
previously Unearned Restricted Stock). The earning of shares of Restricted Stock
at any Performance/Vesting Date shall be determined in the sole discretion of
the Committee, which shall record its determination in writing. Any shares of
Restricted Stock not earned by July 31, 2007 shall be forfeited.

     Shares of Restricted Stock earned at a specified Performance/Vesting Date
will also vest at that date if Employee then remains employed by the Company or
a subsidiary. In the event of Employee's Termination of Employment (as defined
in Section 4 below), all shares of Restricted Stock not previously earned and
vested will be forfeited regardless of whether they otherwise would have been
earned at a subsequent Performance/Vesting Date; provided, however, that the
Committee may determine, in its discretion, that shares of Restricted Stock will
vest equal to the number of shares of Restricted Stock earned (which may include
earning of any then Unearned Restricted Stock, in the Committee's discretion)
treating the date of Termination as a Performance/Vesting Date, or at a
subsequent scheduled Performance/Vesting Date, or on such other basis at or
following Termination of Employment as the Committee may specify.

     In the event of a Change in Control, all Restricted Stock not forfeited
prior to the Change in Control (including any then Unearned Restricted Stock)
will be deemed earned and vested in full at the date of the Change in Control,
except that the Company's Compensation Committee as constituted prior to the
Change in Control, acting prior to the Change in Control or, if the Company did
not receive at least 30 days' advance notice that the Change in Control was
likely to occur, acting not later than 30 days after the Company received such
notice, may determine that such accelerated earning and vesting of the
Restricted Stock shall not occur, or shall occur only in part, or shall be
subject to such other terms as the Committee may impose.

     (b) TSR (Total Shareholder Return): TSR means the amount, expressed as a
percentage, of market price appreciation or depreciation of a share of common
stock plus dividends on a share of common stock, assuming dividend reinvestment
at the dividend payment date, measured from August 1, 2002 through a specified
Performance/Vesting Date. TSR will be calculated for the Company and for each
company in the Comparison Group, so that the ranking of the Company as a
percentile of the Comparison Group can be determined. The TSR of the Company
shall be calculated based on a market price of $30.59 at the Grant Date (subject
to adjustment), and the TSR of companies in the Comparison Group shall be
calculated based on the closing market price on July 31, 2002 (subject to
adjustment). The market price for purposes of calculating the TSR of the Company
and of companies in the Comparison Group on each Performance/Vesting Date shall
be determined based on the average closing price per share of each company's
common stock over the period of 20 consecutive trading days preceding that date,
as reported by a reputable reporting

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service.

     (c) Comparison Group: The Comparison Group shall be the group of companies
identified on Exhibit A hereto, provided that, in the event a merger,
acquisition, or other extraordinary corporate event involving the Company or any
company in the Comparison Group causes the common stock of a company included in
the Comparison Group to cease to be publicly traded, changes the business of the
company, or otherwise necessitates an adjustment to ensure continued
comparability of the TSR of such company for purposes of the Comparison Group,
the Committee shall make such adjustments as it deems appropriate in order to
maintain the comparability of the results of the Comparison Group, including
substitution of a new company; provided, however, that any substitution shall be
combined with the results of the removed company so that the performance of the
new company is reflected in the Comparison Group only for periods after the date
of removal of the removed company; and provided further, that if the Committee
determines it to be impractical to make such an adjustment or substitution, the
TSR of such company for any period after such discontinuance shall be deemed to
be the average TSR of all other continuing companies in the Comparison Group for
such period (to be combined with the company's actual TSR through the date of
such discontinuance), so that the aggregate number of companies in the
Comparison Group will not be reduced. Adjustments may be made by the Committee
in its discretion under this provision as a result of similar corporate events
affecting the Common Stock of the Company or changes to the business of the
Company, which may result in adjustments affecting the Comparison Group or
adjustments to other terms of the Award. The foregoing notwithstanding, no
adjustment shall be authorized hereunder if and to the extent that such
authorization or adjustment would cause the performance goals for the Award not
to meet the "performance goal requirement" set forth in Treasury Regulation
1.162-27(e)(2) under the Internal Revenue Code.

     (d) Lapse of Restrictions on Restricted Stock: Upon the earning and vesting
of any Restricted Stock and satisfaction of all other conditions hereunder, the
Company shall promptly deliver to Employee one or more certificates representing
such shares (which shall no longer be deemed to be Restricted Stock), with any
legend referring to the restrictions under this Agreement removed from such
certificate(s), or shall cause such shares to be delivered to a broker or bank
which maintains an account for Employee or Employee's designee for deposit to
such account.

     3 RESTRICTION ON TRANSFER OF RESTRICTED STOCK. Until such time as a share
of Restricted Stock has been earned and vested under Section 2 above, Employee
shall have no right to sell, transfer, assign, pledge, or otherwise encumber or
dispose of such Restricted Stock (except for forfeitures to the Company).

     4. DIVIDENDS AND DISTRIBUTIONS AND ADJUSTMENTS.

     (a) Dividends and Distributions. Employee shall be entitled to receive with
respect to the Restricted Stock all dividends and distributions payable on
Common Stock (including for this purpose any forward stock split) if and to the
extent that he is the record owner of such Restricted Stock on any record date
for such a dividend or

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distribution and he has not forfeited such Restricted Stock on or before the
payment date for such dividend or distribution, subject to the following terms
and conditions (except as provided in Section 4(b) below):

     (i)    In the event of a cash dividend or distribution on Common Stock,
            such dividend or distribution shall be paid in cash to Employee and
            shall be non-forfeitable;

     (ii)   In the event of any non-cash dividend or distribution in the form of
            property other than Common Stock payable on Common Stock (including
            shares of a subsidiary of the Company distributed in a spin-off),
            the Company shall retain in its custody the property so distributed
            in respect of Employee's Restricted Stock, which property thereafter
            will become earned and vested if and to the same extent as the
            original Restricted Stock with respect to which the property was
            distributed becomes earned and vested and, to the greatest extent
            practicable, shall be subject to all other terms and conditions as
            applied to the original Restricted Stock, including in the event of
            any dividends or distributions paid in respect of such property or
            with respect to the placement of any legend on certificate(s) or
            documents representing such property; provided, however, that any
            dividend or distribution of rights that expire before the latest
            Performance/Vesting Date will be unrestricted and exercisable by
            Employee in accordance with their terms;

     (iii)  In the event of a dividend or distribution in the form of Common
            Stock or split-up of shares, the Common Stock issued or delivered as
            such dividend or distribution or resulting from such split-up will
            be deemed to be additional Restricted Stock and will become earned
            and vested if and to the same extent as the original Restricted
            Stock with respect to which the dividend or distribution was payable
            becomes earned and vested, and shall be subject to all other terms
            and conditions as applied to the original Restricted Stock.

     (b) Adjustments. The number and kind of shares of Restricted Stock, the
number of such shares to be earned and vested and specified Performance/Vesting
Dates under Section 2 hereof, and other terms and conditions of Restricted Stock
or otherwise contained in this Agreement shall be appropriately adjusted, in
order to prevent dilution or enlargement of Employee's rights hereunder, to
reflect any changes in the number of outstanding shares of Common Stock
resulting from any event referred to in Section 11(c) of the Plan, taking into
account any Restricted Stock or other amounts paid or credited to Employee in
connection with such event under Section 4(a) hereof, in the sole discretion of
the Committee. In addition, the Committee may vary the treatment of any dividend
or distribution as specified under Section 4(a)(ii) or (iii), in its discretion,
provided that such variance does not impair the tax deductibility of the
underlying Restricted Stock by the Company under Section 162(m) of the Code. The
Committee may determine how to treat or settle any fractional share resulting
under this Agreement.

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     5. OTHER TERMS OF RESTRICTED STOCK.

     (a) Voting and Other Shareholder Rights. Employee shall be entitled to vote
Restricted Stock on any matter submitted to a vote of holders of Common Stock,
and shall have all other rights of a shareholder of the Company except as
expressly limited by this Agreement.

     (b) Consideration for Grant of Restricted Stock. Employee shall be required
to pay no cash consideration for the grant of the Restricted Stock, but
Employee's performance of services to the Company prior to the earning and
vesting of the Restricted Stock and otherwise during his employment by the
Company shall be deemed to be consideration for the Award. Employee's services
performed from the Grant Date to the date of issuance of the shares of
Restricted Stock is hereby determined to have a value equal to the aggregate par
value of the shares being newly issued in connection with the Award.

     (c) Additional Forfeiture Provisions. Employee agrees that, by signing this
Agreement and accepting the grant of the Restricted Stock, the forfeiture
conditions set forth in Section 10 of the Plan shall apply to all Restricted
Stock hereunder and to gains realized upon the earning and vesting of the
Restricted Stock and dividends on the Restricted Stock.

     (d) Employee Representations and Warranties Upon Earning and Vesting. As a
condition to the earning and vesting of Restricted Stock, the Company may
require Employee to make any representation or warranty to the Company as may be
required under any applicable law or regulation, and to make a representation
and warranty that no Forfeiture Event has occurred or is contemplated within the
meaning of Section 10 of the Plan.

     (e) Insider Trading Policy Applicable. Employee acknowledges that sales of
shares resulting from Restricted Stock that has been earned and vested will be
subject to the Company's policies regulating trading by executive officers and
employees.

     6. CERTIFICATES REPRESENTING RESTRICTED STOCK; STOCK POWERS.

     (a) Certificates. Restricted Stock shall be evidenced by issuance of one or
more certificates in the name of Employee, bearing an appropriate legend
referring to the terms, conditions, and restrictions applicable hereunder, and
shall remain in the physical custody of the General Counsel of the Company or
his designee until such time as such shares of Restricted Stock have been earned
and vested and the restrictions hereunder have therefore lapsed. In addition,
Restricted Stock shall be subject to such stop-transfer orders and other
restrictive measures as the General Counsel of the Company shall deem advisable
under federal or state securities laws, rules and regulations thereunder, and
the rules of the New York Stock Exchange, or to implement the terms, conditions
and restrictions hereunder, and the General Counsel may cause a legend or
legends to be placed on any such certificates to make appropriate reference to
the terms, conditions and restrictions hereunder.

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     (b) Stock Powers. Employee agrees to execute and deliver to the Company one
or more stock powers, in such form as may be specified by the General Counsel,
authorizing the transfer of the Restricted Stock to the Company, at the Date of
Grant of the Restricted Stock or upon request at any time thereafter.

     7. INCORPORATION OF PLAN BY REFERENCE. The Award is subject to the terms
and conditions of the Plan, a copy of which previously has been delivered to
Employee. All of the applicable terms, conditions and other provisions of the
Plan are incorporated by reference herein. Capitalized terms used in this
Agreement but not defined herein shall have the same meanings as in the Plan. If
there is any conflict between the provisions of this Agreement and mandatory
provisions of the Plan, the provisions of the Plan govern. By accepting the
grant of the Award and resulting Restricted Stock, Employee agrees to be bound
by all of the terms and provisions of the Plan (as presently in effect or later
amended), the rules and regulations under the Plan adopted from time to time,
and the decisions and determinations of the Committee under the Plan made from
time to time thereunder.

     8. MISCELLANEOUS.

     (a) Definition of "Termination of Employment." "Termination of Employment"
means the event by which Employee ceases to be employed by the Company or any
subsidiary of the Company and, immediately thereafter, is not employed by the
Company or a subsidiary of the Company.

     (b) Mandatory Tax Withholding. Unless Employee has made other arrangements
for the payment of mandatory withholding amounts satisfactory to the Company or
unless otherwise determined by the Committee, at the time of settlement the
Company will withhold from any Restricted Stock then earned and vested, in
accordance with Section 11(d) of the Plan, the number of shares having a value
nearest to, but not exceeding, the amount of income and employment taxes
required to be withheld under applicable local laws and regulations, and pay the
amount of such withholding taxes in cash to the appropriate taxing authorities.
Employee will be responsible for any withholding taxes not satisfied by means of
such mandatory withholding and for all taxes in excess of such withholding taxes
that may be due as a result of the vesting of any shares of Restricted Stock.

     (c) Binding Agreement; Written Amendments. This Agreement shall be binding
upon the heirs, executors, administrators and successors of the parties. This
Agreement constitutes the entire agreement between the parties with respect to
the Award and the Restricted Stock, and supersedes any prior agreements or
documents with respect thereto. No amendment or alteration of this Agreement
which may impose any additional obligation upon the Company shall be valid
unless expressed in a written instrument duly executed in the name of the
Company, and no amendment, alteration, suspension or termination of this
Agreement which may materially impair the rights of Employee with respect to the
Restricted Stock shall be valid unless expressed in a written instrument
executed by Employee.

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     (d) No Promise of Employment. The Award and resulting Restricted Stock and
the granting thereof shall not constitute or be evidence of any agreement or
understanding, express or implied, that Employee has a right to continue as an
officer or employee of the Company for any period of time, or at any particular
rate of compensation.

     (e) Governing Law. THE VALIDITY, CONSTRUCTION, AND EFFECT OF THIS AGREEMENT
SHALL BE DETERMINED IN ACCORDANCE WITH THE LAWS (INCLUDING THOSE GOVERNING
CONTRACTS) OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO PRINCIPLES OF
CONFLICTS OF LAWS, AND APPLICABLE FEDERAL LAW.

     (f) Notices. Any notice to be given the Company under this Agreement shall
be addressed to the Company at 521 West 57th Street, New York, NY 10019,
attention: Corporate Secretary, and any notice to the Employee shall be
addressed to the Employee at Employee's address as then appearing in the records
of the Company.

     IN WITNESS WHEREOF, INTERNATIONAL FLAVORS & FRAGRANCES INC. has caused this
Agreement to be executed by its officer thereunto duly authorized, and Employee
has duly executed this Agreement, by which each has agreed to the terms of this
Agreement.

Employee                                     INTERNATIONAL FLAVORS &
                                               FRAGRANCES INC.

/S/ RICHARD A. GOLDSTEIN                     By: /S/ STEPHEN A. BLOCK
------------------------                         --------------------
Richard A. Goldstein                             Stephen A. Block
                                                 Senior Vice President
                                                 General Counsel and
                                                 Secretary

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                                                                       Exhibit A

                COMPARISON GROUP FOR PERFORMANCE INCENTIVE AWARD

     The following 21 companies comprise the Comparison Group for purposes of
the Performance Incentive Award granted by INTERNATIONAL FLAVORS & FRAGRANCES
INC., a New York corporation (the "Company" or "IFF"), to Richard A. Goldstein
("Employee"):

     1.  Alberto-Culver Co.

     2.  Allergan, Inc.

     3.  Avon Products, Inc.

     4.  Bausch & Lomb Inc.

     5.  Cabot Corporation

     6.  Church & Dwight Co., Inc.

     7.  The Clorox Company

     8.  The Dial Corporation

     9.  Ecolab Inc.

     10. The Estee Lauder Cos. Inc.

     11. Ferro Corporation

     12. Hershey Foods Corporation

     13. Hormel Foods Corp.

     14. The Lubrizol Corporation

     15. McCormick & Company, Inc.

     16. PolyOne Corporation

     17. Revlon, Inc.

     18. RPM, Inc.

     19. Sensient Technologies Corp.

     20. Sigma-Aldrich Corporation

     21. Wrigley (W.M.), Jr. Co.

                                       8<PAGE>

                                                                    EXHIBIT 10.1

                                 STOCK PLAN FOR
                        NEW DIRECTORS OF LITTELFUSE, INC.

     1. Purpose. Littelfuse, Inc. (the "Corporation") desires to attract and
retain directors of outstanding talent. The Stock Plan for New Directors of
Littelfuse, Inc. (the "Plan") affords eligible directors of the Corporation the
opportunity to acquire proprietary interests in the Corporation and thereby
encourages their highest levels of performance and interest.

     2. Scope and Duration.

          a. Awards under the Plan may be granted as incentive stock options
     ("incentive stock options"), as provided in Section 422 of the Internal
     Revenue Code of 1986, as amended (the "Code"), and non-qualified stock
     options ("non-qualified options"; the term "options" includes incentive
     stock options and non-qualified options).

          b. The maximum aggregate number of shares of common stock of the
     Corporation (the "Common Stock") as to which awards of options may be made
     from time to time under the Plan is the lesser of: (i) 1% of the number of
     outstanding shares of Common Stock, (ii) the number of shares representing
     1% of the voting power of the Common Stock outstanding; or (iii) 25,000
     shares. Shares issued pursuant to this Plan may be in whole or in part, as
     the Board of Directors of the Corporation (the "Board of Directors") shall
     from time to time determine, authorized but unissued shares or issued
     shares reacquired by the Corporation. The maximum aggregate number of
     shares of Common Stock as to which awards of options may be made to any one
     individual during any calendar year shall be 25,000. If for any reason any
     shares as to which an option has been granted cease to be subject to
     purchase thereunder, or to the extent that any awards under the Plan
     denominated in shares are paid or settled in cash or are surrendered upon
     the exercise of an option, then (unless the Plan shall have been
     terminated) such shares, and any shares surrendered to the Corporation upon
     such exercise, shall become available for subsequent awards under the Plan;
     provided, however, that shares surrendered by the Corporation upon the
     exercise of an incentive stock option shall not be available for subsequent
     award of additional stock options under the Plan.

          c. No incentive stock option shall be granted hereunder after June 10,
     2012.

     3. Administration.

          a. The Plan shall be administered by the Compensation Committee or any
     successor thereto of the Board of Directors of the Corporation or by such
     other committee (the "Committee") as shall be determined by the Board of
     Directors. The Committee shall consist of not less than two members of the
     Board of Directors, each of whom shall qualify as a "disinterested person"
     to administer the Plan as contemplated by Rule 16b-3,

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     as amended, or other applicable rules under Section 16(b) of the Securities
     Exchange Act of 1934, as amended (the "Exchange Act").

          b. The Committee shall have plenary authority in its sole discretion,
     subject to and not inconsistent with the express provisions of this Plan:

               (1) to grant options, to determine the purchase price of the
          Common Stock covered by each option, the term of each option, the
          persons to whom, and the time or times at which, options shall be
          granted and the number of shares to be covered by each option;

               (2) to designate options as incentive stock options or
          non-qualified options;

               (3) to interpret the Plan;

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

               (5) to determine the terms and provisions of the options (which
          need not be identical) entered into in connection with awards under
          the Plan;

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

          Without limiting the foregoing, the Committee shall have plenary
     authority in its sole discretion, subject to, and not inconsistent with,
     the express provisions of the Plan, to:

               (1) select Participants (as defined below) for participation in
          the Plan;

               (2) determine the timing, price, and amount of any grant or award
          under the Plan to any Participant; and

               (3) approve the election of the Participant to receive cash in
          whole or in part in settlement of any award under the Plan.

          As used in the Plan, the following terms shall have the following
     meanings: the term "Participant" shall mean an Eligible Director; the term
     "Employee" shall mean a full-time, non-union, salaried employee of the
     Corporation or any of its Subsidiaries; the term "Eligible Director" shall
     mean any individual who is a member of the Board of Directors of the
     Corporation who is not then an Employee or a beneficial owner, either
     directly or indirectly, of more than ten percent (10%) of the Common Stock
     of the Corporation; and the term "Subsidiaries" shall mean all corporations
     in which the Corporation owns, directly or indirectly, more than fifty
     percent (50%) of the total voting power of all classes of stock.

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          c. The Committee may delegate to one or more of its members or to one
     or more agents such administrative duties as it may deem advisable, and the
     Committee or any person to whom it has delegated duties as aforesaid may
     employ one or more persons to render advice with respect to any
     responsibility the Committee or such person may have under the Plan;
     provided, that the Committee may not delegate any duties to a member of the
     Board of Directors who, if elected to serve on the Committee, would not
     qualify as a "disinterested person" to administer the Plan as contemplated
     by Rule 16b-3, as amended, or other applicable rules under the Exchange
     Act. The Committee may employ attorneys, consultants, accountants, or other
     persons, and the Committee, the Corporation, its Subsidiaries, and their
     respective officers and directors shall be entitled to rely upon the
     advice, opinions or valuations of any such persons. All actions taken and
     all interpretations and determinations made by the Committee in good faith
     shall be final and binding upon all Participants, the Corporation, its
     Subsidiaries, and all other interested persons. No member or agent of the
     Committee shall be personally liable for any action, determination, or
     interpretation made in good faith with respect to the Plan or awards made
     hereunder, and all members and agents of the Committee shall be fully
     protected by the Corporation in respect of any such action, determination,
     or interpretation.

     4. Eligibility.

          a. Persons eligible to participate in this Plan shall include all
     Eligible Directors.

          b. The Committee, in its sole discretion, may grant to an Eligible
     Director who has been granted an award under the Plan or any other plan
     maintained by the Corporation or any of its Subsidiaries, or any successor
     thereto, in exchange for the surrender and cancellation of such award, a
     new award in the same or a different form and containing such terms,
     including, without limitation, a price which is different (either higher or
     lower) than any price provided in the award so surrendered and cancelled,
     as the Committee may deem appropriate.

     5. Option Price.

          a. The purchase price of the Common Stock covered by each option
     awarded to an Eligible Director shall be determined by the Committee;
     provided, however, that in the case of incentive stock options, the
     purchase price shall not be less than 100% of the fair market value of the
     Common Stock on the date the option is granted. Fair market value shall
     mean,

               (1) if the Common Stock is duly listed on a national securities
          exchange or on The Nasdaq Stock Market("Nasdaq") ("Duly Listed"), the
          closing price of the Common Stock for the date on which the option is
          granted, or, if there are no sales on such date, on the next preceding
          day on which there were sales, or

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               (2) if the Common Stock is not Duly Listed, the fair market value
          of the Common Stock for the date on which the option is granted, as
          determined by the Committee in good faith. Such price shall be subject
          to adjustment as provided in paragraph 11.

     The price so determined shall also be applicable in connection with the
     exercise of any related right.

          b. The purchase price of the shares as to which an option is exercised
     shall be paid in full at the time of exercise; payment may be made in cash,
     which may be paid by check or other instrument acceptable to the
     Corporation, or, if permitted by the Committee, in shares of the Common
     Stock, valued at the closing price of the Common Stock as reported on
     either a national securities exchange or NASDAQ for the date of exercise,
     or if there were no sales on such date, on the next preceding day on which
     there were sales (or, if the Common Stock is not Duly Listed, the fair
     market value of the Common Stock on the date of exercise, as determined by
     the Committee in good faith), or, if permitted by the Committee and subject
     to such terms and conditions as it may determine, by surrender of
     outstanding awards under the Plan. In addition, the Participant shall pay
     any amount necessary to satisfy applicable federal, state, or local tax
     requirements promptly upon notification of the amount due. The Committee
     may permit such amount to be paid in shares of Common Stock previously
     owned by the Participant, or a portion of the shares of Common Stock that
     otherwise would be distributed to such Participant upon exercise of the
     option, or a combination of cash and shares of such Common Stock.

     6. Term of Options. The term of each incentive stock option granted under
the Plan shall be such period of time as the Committee shall determine, but not
more than ten years from the date of grant, subject to earlier termination as
provided in paragraphs 9 and 10. The term of each non-qualified option granted
under the Plan to Eligible Directors shall be such period of time as the
Committee shall determine, subject to earlier termination as provided in
paragraphs 9 and 10.

     7. Exercise of Options.

          a. Each option shall become exercisable, in whole or in part, as the
     Committee shall determine; provided, however, that the Committee may also,
     in its discretion, accelerate the exercisability of any option in whole or
     in part at any time.

          b. Subject to the provisions of the Plan and unless otherwise provided
     in the option agreement, an option granted under the Plan shall become
     exercisable in full at the earliest of the Participant's death, Eligible
     Retirement (as defined below), Total Disability, or a Change in Control (as
     defined in paragraph 10). For purposes of this Plan, the term "Eligible
     Retirement" shall mean the date upon which an Eligible Director, having
     attained the age of not less than sixty-two, terminates his or her service
     as a director of the Corporation.

                                      -4-
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          c. An option may be exercised, at any time or from time to time
     (subject, in the case of an incentive stock option, to such restrictions as
     may be imposed by the Code), as to any or all full shares as to which the
     option has become exercisable; provided, however, that an option may not be
     exercised at any one time as to less than 100 shares or less than the
     number of shares as to which the option is then exercisable, if that number
     is less than 100 shares.

          d. Subject to the provisions of paragraphs 9 and 10, in the case of
     incentive stock options, no option may be exercised at any time unless the
     holder thereof is then an Eligible Director.

          e. Upon the exercise of an option or portion thereof in accordance
     with the Plan, the option agreement and such rules and regulations as may
     be established by the Committee, the holder thereof shall have the rights
     of a shareholder with respect to the shares issued as a result of such
     exercise.

     8. Non-Transferability of Options; Holding Periods for Eligible Directors.

          a. Options under the Plan shall not be transferable by the grantee
     thereof otherwise than by will or the laws of descent and distribution;
     provided, however, that

               (1) the designation of a beneficiary by a Participant shall not
          constitute a transfer, and

               (2) options may be exercised during the lifetime of the
          Participant only by the Participant or, unless such exercise would
          disqualify an option as an incentive stock option, by the
          Participant's guardian or legal representative.

          b. Notwithstanding anything contained in the Plan to the contrary,

               (1) any option awarded hereunder to an Eligible Director, or the
          shares of Common Stock into which any such option is exercised, may
          not be transferred or disposed of for at least six (6) months
          following the date of acquisition by the Eligible Director of such
          option, and

               (2) the Committee shall take no action whose effect would cause
          an Eligible Director to be in violation of clause (1) above.

          c. Notwithstanding the foregoing and anything else contained in the
     Plan to the contrary, up to 25% of the number of non-qualified options
     (said percentage to be calculated using as the nominator the sum of the
     amount of outstanding and unexercised non-qualified options proposed to be
     transferred plus the number of non-qualified options previously transferred
     by said Participant within the previous four years and using as the
     denominator the aggregate number of non-qualified options granted to said
     Participant within the previous four years) may be transferred (but only on
     a gift basis) by a Participant to an immediate family member of the
     Participant or a trust which has as

                                      -5-
<PAGE>

     beneficiaries at the time of transfer only the Participant and/or immediate
     family members of the Participant. As used herein, the term "immediate
     family members" shall mean the spouse of the Participant, children of the
     Participant and their spouses, grandchildren of the Participant and their
     spouses and great-grandchildren of the Participant and their spouses
     (hereinafter referred to as a "Permitted Transferee"). All transferred
     non-qualified options shall remain subject to all of the provisions of the
     Plan and any agreement between the Participant and the Corporation
     pertaining thereto, including, without limitation, all vesting, termination
     and forfeiture provisions, and the rights and obligations of a transferee
     with respect to a non-qualified option transferred thereto shall be
     determined pursuant to the provisions of the Plan and any such agreement as
     if the Participant remained the holder thereof. In no event shall any
     transferee of a transferred non-qualified option be entitled to transfer
     such non-qualified option except pursuant to the laws of descent and
     distribution. Any transfer of non-qualified options made pursuant to this
     subsection (c) must be made pursuant to legal documentation provided by the
     Corporation, which legal documentation may contain such terms and
     conditions as the Corporation, in its discretion, deems appropriate, and
     shall be subject to verification by the Corporation or its legal counsel
     that the proposed transferee is a Permitted Transferee. Notwithstanding the
     foregoing, the Committee, in its absolute discretion, may restrict or deny
     the transfer of non-qualified options with respect to one or more
     Participants.

     9. Termination of Employment or Service. In the event that the service as a
director of an Eligible Director to whom an option has been granted under the
Plan shall be terminated for any reason other than as set forth in paragraph 10,
such option may, subject to the provisions of the Plan, be exercised (but only
to the extent that the Eligible Director was entitled to do so at the
termination of his or her service as a director) at any time within three (3)
months after such termination, but in no case later than the date on which the
option terminates.

     Any option, or any rules and regulations relating to the Plan, may contain
such provisions as the Committee shall approve with reference to the
determination of the date service as a director terminates and the effect of
leaves of absence. Any such rules and regulations with reference to any option
agreement shall be consistent with the provisions of the Code and any applicable
rules and regulations thereunder. Nothing in the Plan or in any award granted
pursuant to the Plan shall confer upon any Participant any right to continue in
the service of the Corporation or any of its Subsidiaries or interfere in any
way with the right of the Corporation or its Subsidiaries to terminate such
service at any time.

     10. Eligible Retirement, Death, or Total Disability of Eligible Director,
Change in Control. If any Eligible Director to whom an option has been granted
under the Plan shall die or suffer a Total Disability while in the service of
the Corporation as a director, if any Eligible Director terminates his or her
service as a director pursuant to an Eligible Retirement, or if a Change in
Control should occur, such option may be exercised as set forth herein, whether
or not the Participant was otherwise entitled at such time to exercise such
option. Subject to the restrictions otherwise set forth in the Plan, such option
shall be exercisable by the Participant, a legatee or legatees of the
Participant under the Participant's last will, or by the Participant's personal
representatives or distributees, whichever is applicable, at the earlier of

                                      -6-
<PAGE>

          a. the date on which the option terminates in accordance with the term
     of grant, or

          b. any time prior to the expiration of three (3) months after the date
     of such Participant's Eligible Retirement, his or her termination due to
     Total Disability, or the occurrence of a Change in Control, or, if
     applicable, within one year of such Participant's death.

For purposes of this paragraph 10, "Total Disability" is defined as the
permanent inability of a Participant, as a result of accident or sickness, to
perform any and every duty pertaining to such Participant's serving as a
director of the Corporation.

     A "Change in Control" shall be deemed to have occurred upon

          a. a business combination, including a merger or consolidation, of the
     Corporation and the shareholders of the Corporation prior to the
     combination do not continue to own, directly or indirectly, more than
     fifty-one percent (51%) of the equity of the combined entity;

          b. a sale, transfer, or other disposition in one or more transactions
     (other than in transactions in the ordinary course of business or in the
     nature of a financing) of the assets or earning power aggregating more than
     forty-five percent (45%) of the assets or operating revenues of the
     Corporation to any person or affiliated or associated group of persons (as
     defined by Rule 12b-2 of the Exchange Act in effect as of the date hereof);

          c. the liquidation of the Corporation;

          d. one or more transactions which result in the acquisition by any
     person or associated group of persons (other than the Corporation, any
     employee benefit plan whose beneficiaries are Employees of the Corporation
     or any of its Subsidiaries, or TCW Special Credits or any of its
     affiliates) of the beneficial ownership (as defined in Rule 13d-3 of the
     Exchange Act, in effect as of the date hereof) of forty percent (40%) or
     more of the Common Stock of the Corporation, securities representing forty
     percent (40%) or more of the combined voting power of the voting securities
     of the Corporation which affiliated persons owned less than forty percent
     (40%) prior to such transaction or transactions; or

          e. the election or appointment, within a twelve (12) month period, of
     any person or affiliated or associated group, or its or their nominees, to
     the Board of Directors of the Corporation, such that such persons or
     nominees, when elected or appointed, constitute a majority of the Board of
     Directors of the Corporation and whose appointment or election was not
     approved by a majority of those persons who were directors at the beginning
     of such period or whose election or appointment was made at the request of
     an Acquiring Person.

     An "Acquiring Person" is any person who, or which, together with all
affiliates or associates of such person, is the beneficial owner of twenty
percent (20%) or more of the

                                      -7-
<PAGE>

Common Stock of the Corporation then outstanding, except that an Acquiring
Person does not include the Corporation or any employee benefit plan of the
Corporation or any of its Subsidiaries or any person holding Common Stock of the
Corporation for or pursuant to such plan. For the purpose of determining who is
an Acquiring Person, the percentage of the outstanding shares of the Common
Stock of which a person is a beneficial owner shall be calculated in accordance
with Rule 13d-e of the Exchange Act.

     11. Adjustments Upon Changes in Capitalization, etc. Notwithstanding any
other provision of the Plan, the Committee may at any time make or provide for
such adjustments to the Plan, to the number and class of shares available
thereunder or to any outstanding options as it shall deem appropriate to prevent
dilution or enlargement of rights, including adjustments in the event of
distributions to holders of Common Stock other than a normal cash dividend,
changes in the outstanding Common Stock by reason of stock dividends, split-ups,
recapitalizations, mergers, consolidations, combinations, or exchanges of
shares, separations, reorganizations, liquidations, and the like. In the event
of any offer to holders of Common Stock generally relating to the acquisition of
their shares, the Committee may make such adjustment as it deems equitable in
respect of outstanding options, rights, and restricted units including in the
Committee's discretion revision of outstanding options so that they may be
exercisable for or payable in the consideration payable in the acquisition
transaction. Any such determination by the Committee shall be conclusive. No
adjustment shall be made in the minimum number of shares with respect to which
an option may be exercised at any time. Any fractional shares resulting from
such adjustments to options shall be eliminated.

     12. Effective Date. The Plan as theretofore amended shall become effective
as of June 10, 2002. The Committee may, in its discretion, grant awards under
the Plan, the grant, exercise, or payment of which shall be expressly subject to
the conditions that, to the extent required at the time of grant, exercise, or
payment,

          a. the shares of Common Stock covered by such awards shall be Duly
     Listed, upon official notice of issuance, and

          b. if the Corporation deems it necessary or desirable, a Registration
     Statement under the Securities Act of 1933 with respect to such shares
     shall be effective.

     13. Termination and Amendment. The Board of Directors of the Corporation
may suspend, terminate, modify, or amend the Plan, provided that if any such
amendment requires shareholder approval to meet the requirement of the then
applicable rules under Section 16(b) of the Exchange Act, such amendment shall
be subject to the approval of the Corporation's stockholders. If the Plan is
terminated, the terms of the Plan shall, notwithstanding such termination,
continue to apply to awards granted prior to such termination. In addition, no
suspension, termination, modification, or amendment of the Plan may, without the
consent of the Eligible Director to whom an award shall theretofore have been
granted, adversely affect the rights of such Eligible Director under such award.

                                      -8-
<PAGE>

     14. Written Agreements. Each award of options shall be evidenced by a
written agreement, executed by the Participant and the Corporation, which shall
contain such restrictions, terms and conditions as the Committee may require.

     15. Effect on Other Stock Plans. The adoption of the Plan shall have no
effect on awards made, or to be made, pursuant to other stock plans covering
Eligible Directors of the Corporation or any successors thereto.

     16. Governing Law. The Plan and the rights and obligations of the
Corporation and the Participants hereunder, and any options awarded or granted
pursuant to the Plan, shall be governed by and construed in accordance with the
laws of the State of Delaware, excluding any conflicts or choice of law rule or
principle that might otherwise refer construction or interpretation of the Plan
or any options awarded or granted pursuant to the Plan to the statutory or
common law of another jurisdiction.

                                      -9-

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