Document:

AMENDED AND RESTATED
                       THE MAJESTIC COMPANIES, LTD.
                      EMPLOYEE STOCK INCENTIVE PLAN

1.  GENERAL PROVISIONS

1.1  Purpose.

The Amended and Restated The Majestic Companies, Ltd. Employee Stock
Incentive Plan (the "Plan") is intended to allow designated officers and
employees (all of whom are sometimes collectively referred to herein as
"Employees") of The Majestic Companies, Ltd., a Nevada corporation ("Majestic")
and its Subsidiaries (as that term is defined below) which it may have from
time to time (Majestic and such Subsidiaries are referred to herein as the
"Company") to receive certain options ("Stock Options") to purchase Majestic's
common stock, one tenth of one cent ($0.001) par value ("Common Stock"), and to
receive grants of Common Stock subject to certain restrictions ("Awards").  As
used in this Plan, the term "Subsidiary" shall mean each corporation which is
a "subsidiary corporation" of Majestic within the meaning of Section
424(f) of the Internal Revenue Code of 1986, as amended (the "Code").  The
purpose of this Plan is to provide Employees with equity-based compensation
incentives to make significant and extraordinary contributions to
the long-term performance and growth of the Company, and to attract and retain
Employees of exceptional ability.

1.2  Administration.

1.2.1  The Plan shall be administered by the Compensation Committee (the
"Committee") of, or appointed by, the Board of Directors of Majestic (the
"Board").  The Committee shall select one of its members as Chairman and shall
act by vote of a majority of a quorum, or by unanimous written consent.  A
majority of its members shall constitute a quorum.  The Committee shall be
governed by the provisions of Majestic's Bylaws and of Nevada law applicable to
the Board, except as otherwise provided herein or determined by the Board.

1.2.2  The Committee shall have full and complete authority, in its
discretion, but subject  to the express provisions of the Plan:  to approve the
Employees nominated by the management of the Company to be granted Awards or
Stock Options; to determine the number of Awards or Stock Options to be granted
to an Employee; to determine the time or times at which Awards or Stock
Options shall be granted; to establish the terms and conditions upon which
Awards or Stock Options may be exercised; to remove or adjust any restrictions
and conditions upon Awards or Stock Options; to specify, at the time of grant,
provisions relating to exercisability of Stock Options and to accelerate or
otherwise modify the exercisability of any Stock Options; and to adopt such
rules and regulations and to make all other determinations deemed necessary or
desirable for the administration of the Plan.  All interpretations and
constructions of the Plan by the Committee, and all of its actions hereunder,
shall be binding and conclusive on all persons for all purposes.

1.2.3  The Company hereby agrees to indemnify and hold harmless each Committee
member and each employee of the Company, and the estate and heirs of such
Committee member or employee, against all claims, liabilities, expenses,
penalties, damages or other pecuniary losses, including legal fees, which such
Committee member or employee, his or her estate or heirs may
suffer as a result of his or her responsibilities, obligations or duties in
connection with the Plan, to the extent that insurance, if any, does not cover
the payment of such items.  No member of the Committee or the Board shall be
liable for any action or determination made in good faith with respect to the
plan or any Award or Stock Option granted pursuant to the Plan.

1.3  Eligibility and Participation.

Employees eligible under the Plan shall be approved by the Committee from
those Employees who, in the opinion of the management of the Company, are in
positions which enable them to make significant and extraordinary contributions
to the long-term performance and growth of the Company.  In selecting Employees
to whom Stock Options or Awards may be granted, consideration shall be given
tofactors such as employment position, duties and responsibilities, ability,
productivity, length of service, morale, interest in the Company and
recommendations of supervisors.  No member of the Committee shall be eligible
to participate under the Plan or under any other Company plan if such
participation would contravene the standard of paragraph 1.2.1 above relating
to "disinterested persons."

1.4  Shares Subject to the Plan.

The maximum number of shares of Common Stock that may be issued pursuant
to the Plan shall be Eight Million (8,000,000) subject to adjustment pursuant
to the provisions of paragraph 4.1.  If shares of Common Stock awarded or
issued under the Plan are reacquired by the Company due to a forfeiture or for
any other reason, such shares shall be cancelled and thereafter shall again
be available for purposes of the Plan.  If a Stock Option expires, terminates
or is cancelled for any reason without having been exercised in full, the
shares of Common Stock not purchased thereunder shall again be available for
purposes of the Plan.

2.  PROVISIONS RELATING TO STOCK OPTIONS

2.1  Grants of Stock Options.

The Committee may grant Stock Options in such amounts, at such times, and
to such Employees nominated by the management of the Company as the Committee,
in its discretion, may determine.   Stock Options granted under the Plan shall
constitute "incentive stock options" within the meaning of Section 422 of the
Code, if so designated by the Committee on the date of grant.  The Committee
shall also have the discretion to grant Stock Options which do not
constitute incentive stock options, and any such Stock Options shall be
designated non-statutory stock options by the Committee on the date of grant.
The aggregate fair market value (determined as of the time an incentive stock
option is granted) of the Common Stock with respect to which incentive stock
options are exercisable for the first time by any Employee during any one
calendar year (under all plans of the Company and any parent or subsidiary of
the Company) may not exceed the maximum amount permitted under Section 422 of
the Code (currently one hundred thousand dollars ($100,000.00)).  Non-
statutory stock options shall not be subject to the limitations relating to
incentive stock options contained in the preceding sentence.  Each Stock Option
shall be evidenced by a written agreement (the "Option Agreement") in a form
approved by the Committee, which shall be executed on behalf of the Company
and by the Employee to whom the Stock Option is granted, and which shall be
subject to the terms and conditions of this Plan.  In the discretion of the
Committee, Stock Options may include provisions (which need not be uniform),
authorized by the Committee in its discretion, that accelerate an Employee's
rights to exercise Stock Options following a "Change in Control," upon
termination of such Employee employment by the Company without "Cause" or by
the Employee for "Good Reason," as such terms are defined in paragraph 3.1
hereof.  The holder of a Stock Option shall not be entitled to the privileges
of stock ownership as to any shares of Common Stock not actually issued to such
holder.

2.2  Purchase Price.

The purchase price (the "Exercise Price") of shares of Common Stock
subject to each Stock Option ("Option Shares") shall equal twenty cents ($0.20)
per share.  The Exercise Price of incentive Stock Options shall be the fair
market value of the Common Stock as determined as of the date the Stock Option
is granted.  For an employee holding stock possessing more than ten percent
(10%) percent of the total combined voting power of all classes of stock of the
Company, the Exercise Price of an incentive Stock Option shall be at least one
hundred ten percent (110%) of the fair market value of the Common Stock subject
to such option.

2.3  Option Period.

The Stock Option period (the "Term") shall commence on the date of grant
of the incentive Stock Option and shall be ten (10) years or such shorter
period as is determined by the Committee; the Term for an incentive Stock
Option granted to an employee holding stock possessing more than ten percent
(10%) of the total combined voting power of all classes of stock of
the Company shall be five (5) years from the date such option is granted.  The
Term for Non-statutory Stock Options shall be whatever period, if any, is set
by the Board.  Each Stock Option shall provide that it is exercisable
over its term in such periodic installments as the Committee in its sole
discretion may determine.  Such provisions need not be uniform.
Notwithstanding the foregoing, but subject to the provisions of paragraphs
1.2.2 and 2.1, Stock Options granted to Employees who are subject to the
reporting requirements of Section 16(a) of the Exchange Act ("Section 16
Reporting Persons") shall not be exercisable until at least six (6) months and
one day from the date the Stock Option is granted.

2.4  Exercise of Options.

2.4.1  Each Stock Option may be exercised in whole or in part (but not as
to fractional shares) by delivering it for surrender or endorsement to the
Company, attention of the Corporate Secretary, at the principal office of the
Company, together with payment of the Exercise Price and an executed Notice
and Agreement of Exercise in the form prescribed by paragraph 2.4.2.  Payment
may be made (i) in cash, (ii) by cashier's or certified check, (iii) by
surrender of previously owned shares of the Company's Common Stock valued
pursuant to paragraph 2.2 (if the Committee authorizes payment in stock in its
discretion), (iv) by withholding from the Option Shares which would otherwise
be issuable upon the exercise of the Stock Option that number of Option Shares
equal to the exercise price of the Stock Option, if such withholding is
authorized by the Committee in its discretion, in its discretion, (v) in the
discretion of the Committee, by the delivery to the Company of the optionee's
promissory note secured by the Option Shares, bearing interest at a rate
sufficient to prevent the imputation of interest under Sections 483 or 1274 of
the Code, and having such other terms and conditions as may be satisfactory to
the Committee, or (vi) through a cashless exercise program as established by
Majestic.

2.4.2  Exercise of each Stock Option is conditioned upon the agreement of
the Employee to the terms and conditions of this Plan and of such Stock Option
as evidenced by the Employee's execution and delivery of a Notice and Agreement
of Exercise in a form to be determined by the Committee in its discretion.
Such Notice and Agreement of Exercise shall set forth the agreement of
the Employee that:  (a) no Option Shares will be sold or otherwise distributed
in violation of the Securities Act of 1933 (the "Securities Act") or any other
applicable federal or state securities laws, (b) each Option Share certificate
may be imprinted with legends reflecting any applicable federal and state
securities law restrictions and conditions, (c) the Company may comply with
said securities law restrictions and issue "stop transfer" instructions to its
Transfer Agent and Registrar without liability, (d) if the Employee is a
Section 16 Reporting Person, the Employee will furnish to the Company a copy
of each Form 4 or Form 5 filed by said Employee and will timely file all
reports required under federal securities laws, and (e) the Employee will
report all sales of Option Shares to the Company in writing on a form
prescribed by the Company.

2.4.3  No Stock Option shall be exercisable unless and until any applicable
registration or qualification requirements of federal and state securities
laws, and all other legal requirements, have been fully complied with.  The
Company will use reasonable efforts to maintain the effectiveness of
a Registration Statement under the Securities Act for the issuance of Stock
Options and shares acquired thereunder, but there may be times when no such
Registration Statement will be currently effective.  The exercise of Stock
Options may be temporarily suspended without liability to the Company during
times when no such Registration Statement is currently effective, or during
times when, in the reasonable opinion of the Committee, such suspension is
necessary to preclude violation of any requirements of applicable law or
regulatory bodies having jurisdiction over the Company.  If any Stock Option
would expire for any reason except the end of its term during such a
suspension, then if exercise of such Stock Option is duly tendered before its
expiration, such Stock Option shall be exercisable and exercised (unless the
attempted exercise is withdrawn) as of the first day after the end of such
suspension.  The Company shall have no obligation to file any Registration
Statement covering resales of Option Shares.

2.5  Continuous Employment.

Except as provided in paragraph 2.7 below, an Employee may not exercise a
Stock Option unless from the date of grant to the date of exercise such
Employee remains continuously in the employ of the Company.  For purposes of
this paragraph 2.5, the period of continuous employment of an Employee with the
Company shall be deemed to include (without extending the term of the Stock
Option) any period during which such Employee is on leave of absence with
the consent of the Company, provided that such leave of absence shall not
exceed three (3) months and that such Employee returns to the employ of the
Company at the expiration of such leave of absence.  If such Employee fails to
return to the employ of the Company at the expiration of such leave of absence,
such Employee's employment with the Company shall be deemed terminated as of
the date such leave of absence commenced.  The continuous employment of an
Employee with the Company shall also be deemed to include any period during
which such Employee is a member of the Armed Forces of the United States,
provided that such Employee returns to the employ of the Company within
ninety (90) days (or such longer period as may be prescribed by law) from the
date such Employee first becomes entitled to discharge.  If an Employee does
not return to the employ of the Company within ninety (90) days (or such longer
period as may be prescribed by law) from the date such Employee first becomes
entitled to discharge, such Employee's employment with the Company shall
be deemed to have terminated as of the date such Employee's military service
ended.

2.6  Restrictions on Transfer.

Each Stock Option granted under this Plan shall be transferable only by
will or the laws of descent and distribution.  No interest of any Employee
under the Plan shall be subject to attachment, execution, garnishment,
sequestration, the laws of bankruptcy or any other legal or equitable
process.  Each Stock Option granted under this Plan shall be exercisable during
an Employee's lifetime only by such Employee or by such Employee's legal
representative.

2.7  Termination of Employment.

2.7.1  Upon an Employee's Retirement, Disability (both terms being defined
below) or death, (a) all Stock Options to the extent then presently exercisable
shall remain in full force and effect and may be exercised pursuant to the
provisions thereof, including expiration at the end of the fixed term thereof,
and (b) unless otherwise provided by the Committee, all Stock Options to the
extent not then presently exercisable by such Employee shall terminate as of
the date of such termination of employment and shall not be exercisable
thereafter.

2.7.2  Upon the termination of the employment of an Employee with the
Company for any reason other than the reasons set forth in paragraph 2.7.1
hereof, (a) all Stock Options to the extent then presently exercisable by such
Employee shall remain exercisable only for a period of ninety (90) days after
the date of such termination of employment (except that the ninety (90) day
period shall be extended to twelve (12) months if the Employee shall die during
such ninety (90) day period), and may be exercised pursuant to the provisions
thereof, including expiration at the end of the fixed term thereof, and (b)
unless otherwise provided by the Committee, all Stock Options to the
extent not then presently exercisable by such Employee shall terminate as of
the date of such termination of employment and shall not be exercisable
thereafter.

2.7.3  For purposes of this Plan:

(a)  "Retirement" shall mean an Employee's retirement from the employ of the
Company on or after the date on which such Employee attains the age of sixty-
five (65) years; and

(b)  "Disability" shall mean total and permanent incapacity of an
Employee, due to physical impairment or legally established mental
incompetence, to perform the usual duties of such Employee's employment with
the Company, which disability shall be determined: (i) on medical evidence by
a licensed physician designated by the Committee, or (ii) on evidence that the
Employee has become entitled to receive primary benefits as a disabled employee
under the Social Security Act in effect on the date of such disability.

3.  PROVISIONS RELATING TO AWARDS

3.1  Grant of Awards.

Subject to the provisions of the Plan, the Committee shall have full and
complete authority, in its discretion, but subject to the express provisions
of this Plan, to (i) grant Awards pursuant to the Plan, (ii) determine the
number of shares of Common Stock subject to each Award ("Award Shares"), (iii)
determine the terms and conditions (which need not be identical) of each Award,
including the consideration (if any) to be paid by the Employee for such Common
Stock, which may, in the Committee's discretion, consist of the delivery of the
Employee's promissory note meeting the requirements of paragraph 2.4.1, (iv)
establish and modify performance criteria for Awards, and (v) make all of the
determinations necessary or advisable with respect to Awards under the Plan.
Each award under the Plan shall consist of a grant of shares of Common Stock
subject to a restriction period (after which the restrictions shall lapse),
which shall be a period commencing on the date the award is granted and ending
on such date as the Committee shall determine (the "Restriction Period").  The
Committee may provide for the lapse of restrictions in installments, for
acceleration of the lapse of restrictions upon the satisfaction of such
performance or other criteria or upon the occurrence of such events as the
Committee shall determine, and for the early expiration of the Restriction
Period upon an Employee's death, Disability or Retirement as defined in
paragraph 2.7.3, or, following a Change of Control, upon termination of an
Employee's employment by the Company without "Cause" or by the Employee for
"Good Reason," as those terms are defined herein.  For purposes of this Plan:

"Change of Control" shall be deemed to occur (a) on the date the Company
first has actual knowledge that any person (as such term is used in Sections
13(d) and 14(d) (2) of the Exchange Act) has become the beneficial owner (as
defined in Rule 13(d)-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing forty percent (40%) or more of the
combined voting power of the Company's then outstanding securities, or (b) on
the date the shareholders of the Company approve (i) a merger of the Company
with or into any other corporation in which the Company is not the surviving
corporation or in which the Company survives as a subsidiary of another
corporation, (ii) a consolidation of the Company with any other corporation,
or (iii) the sale or disposition of all or substantially all of the Company's
assets or a plan of complete liquidation.

"Cause," when used with reference to termination of the employment of an
Employee by the Company for "Cause," shall mean:

(a)  the Employee's continuing willful and material breach of his or her
duties to the Company after he or she receives a demand from the Chief
Executive of the Company specifying the manner in which he or she has willfully
and materially breached such duties, other than any such failure resulting from
Disability of the Employee or his or her resignation for "Good Reason," as
defined herein; or

(b)  the conviction of the Employee of a felony; or

(c)  the Employee's commission of fraud in the course of his or her
employment with the Company, such as embezzlement or other material and
intentional violation of law against the Company; or

(d)  the Employee's gross misconduct causing material harm to the
Company.

"Good Reason" shall mean any one or more of the following, occurring
following or in connection with a Change of Control and within ninety (90) days
prior to the Employee's resignation, unless the Employee shall have consented
thereto in writing:

(a)  the assignment to the Employee of duties inconsistent with his or
her executive status prior to the Change of Control or a substantive change in
the officer or officers to whom he or she reports from the officer or officers
to whom he or she reported immediately prior to the Change of Control; or

(b)  the elimination or reassignment of a majority of the duties and
responsibilities that were assigned to the Employee immediately prior to the
Change of Control; or

(c)  a reduction by the Company in the Employee's annual base salary as
in effect immediately prior to the Change of Control; or

(d)  the Company's requiring the Employee to be based anywhere outside a
35-mile radius from his or her place of employment immediately prior to the
Change of Control, except for required travel on the Company's business to an
extent substantially consistent with the Employee's business travel obligations
immediately prior to the Change of Control; or

(e)  the failure of the Company to grant the Employee a performance
bonus reasonably equivalent to the same percentage of salary the Employee
normally received prior to the Change of Control, given comparable performance
by the Company and the Employee; or

(f)  the failure of the Company to obtain a satisfactory Assumption
Agreement (as defined in paragraph 4.12 of the Plan) from a successor, or the
failure of such successor to perform such Assumption Agreement.

3.2  Incentive Agreements.

Each Award granted under the Plan shall be evidenced by a written
agreement (an "Incentive Agreement") in a form approved by the Committee and
executed by the Company and the Employee to whom the Award is granted.  Each
Incentive Agreement shall be subject to the terms and conditions of the Plan
and other such terms and conditions as the Committee may specify.

3.3  Waiver of Restrictions.

The Committee may modify or amend any Award under the Plan or waive any
restrictions or conditions applicable to such Awards; provided, however, that
the Committee may not undertake any such modifications, amendments or waivers
if the effect thereof materially increases the benefits to any Employee, or
adversely affects the rights of any Employee without his or her consent.

3.4  Terms and Conditions of Awards.

3.4.1  Upon receipt of an Award of shares of Common Stock under the Plan,
even during the Restriction Period, an Employee shall be the holder of record
of the shares and shall have all the rights of a shareholder with respect to
such shares, subject to the terms and conditions of the Plan and the Award.

3.4.2  Except as otherwise provided in this paragraph 3.4, no shares of
Common Stock received pursuant to the Plan shall be sold, exchanged,
transferred, pledged, hypothecated or otherwise disposed of during the
Restriction Period applicable to such shares.  Any purported
disposition of such Common Stock in violation of this paragraph 3.4.2 shall be
null and void.

3.4.3  If an Employee's employment with the Company terminates prior to
the expiration of the Restriction Period for an Award, subject to any
provisions of the Award with respect to the Employee's death, Disability or
Retirement, or Change of Control, all shares of Common Stock subject to the
Award shall be immediately forfeited by the Employee and reacquired by the
Company, and the Employee shall have no further rights with respect to the
Award.  In the discretion of the Committee, an Incentive Agreement may provide
that, upon the forfeiture by an Employee of Award Shares, the Company shall
repay to the Employee the consideration (if any) which the Employee paid for
the Award Shares on the grant of the Award.  In the discretion of the
Committee, an Incentive Agreement may also provide that such repayment shall
include an interest factor on such consideration from the date of the grant of
the Award to the date of such repayment.

3.4.4  The Committee may require under such terms and conditions as it
deems appropriate or desirable that (i) the certificates for Common Stock
delivered under the Plan are to be held in custody by the Company or a person
or institution designated by the Company until the Restriction Period expires,
(ii) such certificates shall bear a legend referring to the restrictions on the
Common Stock pursuant to the Plan, and (iii) the Employee shall have delivered
to the Company a stock power endorsed in blank relating to the Common Stock.

4.  MISCELLANEOUS PROVISIONS

4.1  Adjustments Upon Change in Capitalization.

4.1.1  The number and class of shares subject to each outstanding Stock
Option, the Exercise Price thereof (but not the total price), the maximum
number of Stock Options that may be granted under the Plan, the minimum number
of shares as to which a Stock Option may be exercised at any one time, and the
number and class of shares subject to each outstanding Award, shall be
proportionately adjusted in the event of any increase or decrease in the
number of the issued shares of Common Stock which results from a split-up or
consolidation of shares, payment of a stock dividend or dividends exceeding a
total of five percent (5%) for which the record dates occur in any one fiscal
year, a recapitalization (other than the conversion of convertible securities
according to their terms), a combination of shares or other like capital
adjustment, so that (i) upon exercise of the Stock Option, the Employee shall
receive the number and class of shares such Employee would have received had
such Employee been the holder of the number of shares of Common Stock for which
the Stock Option is being exercised upon the date of such change or increase or
decrease in the number of issued shares of the Company, and (ii) upon the lapse
of restrictions of the Award Shares, the Employee shall receive the number and
class of shares such Employee would have received if the restrictions on the
Award Shares had lapsed on the date of such change or increase or decrease in
the number of issued shares of the Company.

4.1.2  Upon a reorganization, merger or consolidation of the Company with
one or more corporations as a result of which Majestic is not the surviving
corporation or in which Majestic survives as a wholly-owned subsidiary of
another corporation, or upon a sale of all or substantially all of the property
of the Company to another corporation, or any dividend or distribution to
shareholders of more than ten percent (10%) of the Company's assets,
adequate adjustment or other provisions shall be made by the Company or other
party to such transaction so that there shall remain and/or be substituted for
the Option Shares and Award Shares provided for herein, the shares, securities
or assets which would have been issuable or payable in respect of or in
exchange for such Option Shares and Award Shares then remaining, as if the
Employee had been the owner of such shares as of the applicable date.  Any
securities so substituted shall be subject to similar successive adjustments.

4.2  Withholding Taxes.

The Company shall have the right at the time of exercise of any Stock
Option, the grant of an Award, or the lapse of restrictions on Award Shares, to
make adequate provision for any federal, state, local or foreign taxes which it
believes are or may be required by law to be withheld with respect to such
exercise ("Tax Liability"), to ensure the payment of any such Tax Liability.
The Company may provide for the payment of any Tax Liability by any of the
following means or a combination of such means, as determined by the Committee
in its sole and absolute discretion in the particular case:  (i) by requiring
the Employee to tender a cash payment to the Company, (ii) by
withholding from the Employee's salary, (iii) by withholding from the Option
Shares which would otherwise be issuable upon exercise of the Stock Option, or
from the Award Shares on their grant or date of lapse of restrictions, that
number of Option Shares or Award Shares having an aggregate fair market value
(determined in the manner prescribed by paragraph 2.2) as of the date the
withholding tax obligation arises in an amount which is equal to the Employee's
Tax Liability or (iv) by any other method deemed appropriate by the Committee.
Satisfaction of the Tax Liability of a Section 16 Reporting Person may be made
by the method of payment specified in clause (iii) above only if the following
two conditions are satisfied:

(a)  the withholding of Option Shares or Award Shares and the exercise
of the related Stock Option occur at least six months and one day following the
date of grant of such Stock Option or Award; and

(b)  the withholding of Option Shares or Award Shares is made either (i)
pursuant to an irrevocable election ("Withholding Election") made by such
Employee at least six months in advance of the withholding of Options Shares or
Award Shares, or (ii) on a day within a ten-day "window period" beginning on
the third business day following the date of release of the Company's quarterly
or annual summary statement of sales and earnings.

Anything herein to the contrary notwithstanding, a Withholding Election may be
disapproved by the Committee at any time.

4.3  Relationship to Other Employee Benefit Plans.

Stock Options and Awards granted hereunder shall not be deemed to be salary or
other compensation to any Employee for purposes of any pension, thrift, profit-
sharing, stock purchase or any other employee benefit plan now maintained or
hereafter adopted by the Company.

4.4  Amendments and Termination.

The Board of Directors may at any time suspend, amend or terminate this
Plan.  No amendment, except as provided in paragraph 2.8, or modification of
this Plan may be adopted, except subject to stockholder approval, which would:
(a) materially increase the benefits accruing to Employees under this Plan, (b)
materially increase the number of securities which may be issued under this
Plan (except for adjustments pursuant to paragraph 4.1 hereof), or (c)
materially modify the requirements as to eligibility for participation in the
Plan.

4.5  Successors in Interest.

The provisions of this Plan and the actions of the Committee shall be
binding upon all heirs, successors and assigns of the Company and of Employees.

4.6  Other Documents.

All documents prepared, executed or delivered in connection with this Plan
(including, without limitation, Option Agreements and Incentive Agreements)
shall be, in substance and form, as established and modified by the Committee;
provided, however, that all such documents shall be subject in every respect to
the provisions of this Plan, and in the event of any conflict between the
terms of any such document and this Plan, the provisions of this Plan shall
prevail.

4.7  No Obligation to Continue Employment.

This Plan and grants hereunder shall not impose any obligation on the
Company to continue to employ any Employee.  Moreover, no provision of this
Plan or any document executed or delivered pursuant to this Plan shall be
deemed modified in any way by any employment contract between an Employee (or
other employee) and the Company.

4.8  Misconduct of an Employee.

Notwithstanding any other provision of this Plan, if an Employee commits
fraud or dishonesty toward the Company or wrongfully uses or discloses any
trade secret, confidential data or other information proprietary to the
Company, or intentionally takes any other action materially inimical to the
best interests of the Company, as determined by the Committee, in its sole and
absolute discretion, such Employee shall forfeit all rights and benefits under
this Plan.

4.9  Term of Plan.

This Plan was adopted by the Board effective March 8, 2000.  No Stock
Options or Awards may be granted under this Plan after February 23, 2010.

4.10  Governing Law.

This Plan shall be construed in accordance with, and governed by, the
laws of the State of Nevada.

4.11  Shareholder Approval.

No Stock Option shall be exercisable, or Award granted, unless and until
the Directors of the Company have approved this Plan and all other legal
requirements have been fully complied with.  In addition, no incentive Stock
Option shall be granted until approved by a majority of the issued and
outstanding Common Stock of Majestic.

4.12  Assumption Agreements.

The Company will require each successor, (direct or indirect, whether by
purchase, merger, consolidation or otherwise), to all or substantially all of
the business or assets of the Company, prior to the consummation of each such
transaction, to assume and agree to perform the terms and provisions remaining
to be performed by the Company under each Incentive Agreement and Stock
Option and to preserve the benefits to the Employees thereunder.  Such
assumption and agreement shall be set forth in a written agreement in form and
substance satisfactory to the Committee (an "Assumption Agreement"), and shall
include such adjustments, if any, in the application of the provisions of the
Incentive Agreements and Stock Options and such additional provisions, if any,
as the Committee shall require and approve, in order to preserve such benefits
to the Employees.  Without limiting the generality of the foregoing, the
Committee may require an Assumption Agreement to include satisfactory
undertakings by a successor:

(a)  to provide liquidity to the Employees at the end of the Restriction
Period applicable to Common Stock awarded to them under the Plan, or on the
exercise of Stock Options;

(b)  if the succession occurs before the expiration of any period specified in
the Incentive Agreements for satisfaction of performance criteria applicable to
the Common Stock awarded thereunder, to refrain from interfering with the
Company's ability to satisfy such performance criteria or to agree to modify
such performance criteria and/or waive any criteria that cannot be satisfied as
a result of the succession;

(c)  to require any future successor to enter into an Assumption
Agreement; and

(d)  to take or refrain from taking such other actions as the Committee
may require and approve, in its discretion.

The Committee referred to in this paragraph 4.12 is the Committee appointed by
a Board of Directors in office prior to the succession then under consideration.

4.13  Compliance With Rule 16b-3.

Transactions under the Plan are intended to comply with all applicable
conditions of Rule 16b-3.  To the extent that any provision of the Plan or
action by the Committee fails to so comply, it shall be deemed null and void,
to the extent permitted by law and deemed advisable by the Committee.

IN WITNESS WHEREOF, this Plan has been executed effective as of the 8th
day of March, 2000.

The Majestic Companies, Ltd.

By:  /s/  Francis A. Zubrowski
Francis A. Zubrowski, President/Chief Executive OfficerAMENDED AND RESTATED
                        THE MAJESTIC COMPANIES, LTD.
                           RETAINER STOCK PLAN FOR
                     NON-EMPLOYEE DIRECTORS AND CONSULTANTS

1.  Introduction.

This plan shall be known as Amended and Restated The Majestic Companies
Retainer Stock Plan For Non-Employee Directors and Consultants is hereinafter
referred to as the "Plan".  The purposes of the Plan are to enable The Majestic
Companies, Ltd., a Nevada corporation ("Company"), to promote the interests of
the Company and its shareholders by attracting and retaining non-employee
Directors and Consultants capable of furthering the future success of the
Company and by aligning their economic interests more closely with those of the
Company's shareholders, by paying their retainer or fees in the form of shares
of the Company's common stock, par value one tenth of one cent ($0.001) per
share ("Common Stock").

2.  Definitions.

The following terms shall have the meanings set forth below:

"Board" means the Board of Directors of the Company.

"Change of Control" has the meaning set forth in Section 12(d).

"Code" means the Internal Revenue Code of 1986, as amended, and the rules and
regulations thereunder. References to any provision of the Code or rule or
regulation thereunder shall be deemed to include any amended or successor
provision, rule or regulation.

"Committee" means the committee that administers the Plan, as more fully
defined in Section 13.

"Common Stock" has the meaning set forth in Section 1.

"Company" has the meaning set forth in Section 1.

"Deferral Election" has the meaning set forth in Section 6.

"Deferred Stock Account" means a bookkeeping account maintained by the Company
for a Participant representing the Participant's interest in the shares
credited to such Deferred Stock Account pursuant to Section 7.

"Delivery Date" has the meaning set forth in Section 6.

"Director" means an individual who is a member of the Board of Directors of the
Company.

"Dividend Equivalent" for a given dividend or other distribution means a number
of shares of Common Stock having a Fair Market Value, as of the record date for
such dividend or distribution, equal to the amount of cash, plus the fair market
value on the date of distribution of any property, that is distributed with
respect to one share of Common Stock pursuant to such dividend or
distribution; such fair market value to be determined by the Committee in good
faith.

"Effective Date" has the meaning set forth in Section 3.

"Exchange Act" has the meaning set forth in Section 13(b).

"Fair Market Value" means the mean between the highest and lowest reported
sales prices of the Common Stock on the NYSE Composite Tape or, if not listed
on such exchange, on any other national securities exchange on which the Common
Stock is listed or on NASDAQ on the last trading day prior to the date with
respect to which the Fair Market Value is to be determined.

"Participant" has the meaning set forth in Section 4.

"Payment Time" means the time when a Stock Retainer is payable to a
Participant pursuant to Section 5 (without regard to the effect of any Deferral
Election).

"Stock Retainer" has the meaning set forth in Section 5.

"Third Anniversary" has the meaning set forth in Section 6.

3.  Effective Date of the Plan.

The Plan was adopted by the Board effective June 26, 2000 ("Effective Date").

4.  Eligibility.

Each individual who is a Director or Consultant on the Effective Date and each
individual who becomes a Director or Consultant thereafter during the term of
the Plan, shall be a participant ("Participant") in the Plan, in each case
during such period as such individual remains a Director or Consultant and is
not an employee of the Company or any of its subsidiaries.  Each credit of
shares of Common Stock pursuant to the Plan shall be evidenced by a written
agreement duly executed and delivered by or on behalf of the Company and a
Participant, if such an agreement is required by the Company to assure
compliance with all applicable laws and regulations.

5.  Grants of Shares.

Commencing on the Effective Date, the amount for service to directors or
consultants shall instead be payable in shares of Common Stock ("Stock
Retainer") pursuant to this Plan at the deemed issuance price of one tenth of
one cent ($0.001) per Share.

6.  Deferral Option.

From and after the Effective Date, a Participant may make an election (a
"Deferral Election") on an annual basis to defer delivery of the Stock Retainer
specifying which one of the following way the Stock Retainer is to be
delivered:  (a) on the date which is three years after the Effective Date for
which it was originally payable ("Third Anniversary"), (b) on the date upon
which the Participant ceases to be a Director or Consultant for any reason
("Departure Date") or (c) in five equal annual installments commencing on the
Departure Date ("Third Anniversary" and "Departure Date" each being referred
to herein as a "Delivery Date").  Such Deferral Election shall remain in effect
for each Subsequent Year unless changed, provided that, any Deferral Election
with respect to a particular Year may not be changed less than six (6) months
prior to the beginning of such Year and provided, further, that no more than
one Deferral Election or change thereof may be made in any Year.

Any Deferral Election and any change or revocation thereof shall be made by
delivering written notice thereof to the Committee no later than six (6) months
prior to the beginning of the Year in which it is to be effected; provided that
with respect to the Year beginning on the Effective Date, any Deferral Election
or revocation thereof must be delivered no later than the close of business on
the thirtieth (30th) day after the Effective Date.

7.  Deferred Stock Accounts.

The Company shall maintain a Deferred Stock Account for each Participant who
makes a Deferral Election to which shall be credited, as of the applicable
Payment Time, the number of shares of Common Stock payable pursuant to the
Stock Retainer to which the Deferral Election relates.  So long as any amounts
in such Deferred Stock Account have not been delivered to the Participant
under Section 8, each Deferred Stock Account shall be credited as of the
payment date for any dividend paid or other distribution made with respect to
the Common Stock, with a number of shares of Common Stock equal to (a) the
number of shares of Common Stock shown in such Deferred Stock Account on the
record date for such dividend or distribution multiplied by (b) the Dividend
Equivalent for such dividend or distribution.

8.  Delivery of Shares.

(a)  The shares of Common Stock in a Participant's Deferred Stock Account with
respect to any Stock Retainer for which a Deferral Election has been made
(together with dividends attributable to such shares credited to such Deferred
Stock Account) shall be delivered in accordance with this Section 8 as soon as
practicable after the applicable Delivery Date.  Except with respect to a
Deferral Election pursuant to Section 6(c), or other agreement between the
parties, such shares shall be delivered at one time; provided that, if the
number of shares so delivered includes a fractional share, such number shall be
rounded to the nearest whole number of shares. If the Participant has in
effect a Deferral Election pursuant to Section 6(c), then such shares shall be
delivered in five equal annual installments (together with dividends
attributable to such shares credited to such Deferred Stock Account), with the
first such installment being delivered on the first anniversary of the
Delivery Date; provided that, if in order to equalize such installments,
fractional shares would have to be delivered, such installments shall be
adjusted by rounding to the nearest whole share.  If any such shares are to be
delivered after the Participant has died or become legally incompetent, they
shall be delivered to the Participant's estate or legal guardian, as the case
may be, in accordance with the foregoing; provided that, if the Participant
dies with a Deferral Election pursuant to Section 6(c) in effect, the Committee
shall deliver all remaining undelivered shares to the Participant's estate
immediately. References to a Participant in this Plan shall be deemed to refer
to the Participant's estate or legal guardian, where appropriate.

(b)  The Company may, but shall not be required to, create a grantor trust or
utilize an existing grantor trust (in either case, "Trust") to assist it in
accumulating the shares of Common Stock needed to fulfill its obligations under
this  Section 8.   However, Participants shall have no beneficial or other
interest in the Trust and the assets thereof, and their rights under the Plan
shall be as general creditors of the Company, unaffected by the existence or
nonexistence of the Trust, except that
deliveries of Stock Retainers to Participants from the Trust shall, to the
extent thereof, be treated as satisfying the Company's obligations under this
Section 8.

9.  Share Certificates; Voting and Other Rights.

The certificates for shares delivered to a Participant pursuant to Section 8
above shall be issued in the name of the Participant, and from and after the
date of such issuance the Participant shall be entitled to all rights of a
shareholder with respect to Common Stock for all such shares issued in his
or her name, including the right to vote the shares, and the Participant shall
receive all dividends and other distributions paid or made with respect
thereto.

10.  General Restrictions.

(a)  Notwithstanding any other provision of the Plan or agreements made
pursuant thereto, the Company shall not be required to issue or deliver any
certificate or certificates for shares of Common Stock under the Plan prior to
fulfillment of all of the following conditions:

(i)   Listing or approval for listing upon official notice of issuance of such
shares on the New York Stock Exchange, Inc., or such other securities exchange
 as may at the time be a market for the Common Stock;

(ii)   Any registration or other qualification of such shares under any state
or federal law or regulation, or the maintaining in effect of any such
registration or other qualification which the Committee shall, upon the advice
of counsel, deem necessary or advisable; and

(iii)   Obtaining any other consent, approval, or permit from any state or
federal governmental agency which the Committee shall, after receiving the
advice of counsel, determine to be necessary or advisable.

(b)  Nothing contained in the Plan shall prevent the Company from adopting
other or additional compensation arrangements for the Participants.

11.  Shares Available.

Subject to Section 12 below, the maximum number of shares of Common Stock which
may in the aggregate be paid as Stock Retainers pursuant to the Plan is Twenty
Million (20,000,000).  Shares of Common Stock issueable under the Plan may be
taken from treasury shares of the Company or purchased on the open market.

12.  Adjustments; Change of Control.

(a)  In the event that there is, at any time after the Board adopts the Plan,
any change in corporate capitalization, such as a stock split, combination of
shares, exchange of shares, warrants or rights offering to purchase Common
Stock at a price below its fair market value, reclassification, or
recapitalization, or a corporate transaction, such as any merger,
consolidation, separation, including a spin-off, or other extraordinary
distribution of stock or property of the Company, any reorganization (whether
or not such reorganization comes within the definition of such term in
Section 368 of the Code) or any partial or complete liquidation of the Company
(each of the foregoing a "Transaction"), in each case other than any such
Transaction which constitutes a Change of Control (as defined below), (i) the
Deferred Stock Accounts shall be credited with the amount and kind of shares or
other property which would have been received by a holder of the number of
shares of Common Stock held in such Deferred Stock Account had such shares of
Common Stock been outstanding as of the effectiveness of any such Transaction,
(ii) the number and kind of shares or other property subject to the Plan shall
likewise be appropriately adjusted to reflect the effectiveness of any such
Transaction and (iii) the Committee shall appropriately adjust any other
elevant provisions of the Plan and any such modification by the Committee
shall be binding and conclusive on all persons.

(b)  If the shares of Common Stock credited to the Deferred Stock Accounts are
converted pursuant to Section 12(a) into another form of property, references
in the Plan to the Common Stock shall be deemed, where appropriate, to refer
tosuch other form of property, with such other modifications as may be required
for the Plan to operate in accordance with its purposes. Without limiting the
generality of the foregoing, references to delivery of certificates for shares
of Common Stock shall be deemed to refer to delivery of cash and the incidents
of ownership of any other property held in the Deferred Stock Accounts.

(c)  In lieu of the adjustment contemplated by Section 12(a), in the event of a
Change of Control, the following shall occur on the date of the Change of
Control:  (i) the shares of Common Stock held in each Participant's Deferred
Stock Account  shall be deemed to be issued and outstanding as of the
Change of Control; (ii) the Company shall forthwith deliver to each Participant
who has a Deferred Stock Account all of the shares of Common Stock or any other
property held in such Participant's Deferred Stock Account; and (iii) the Plan
shall be terminated.

(d)  For purposes of this Plan, Change of Control shall mean any of the
following events:

(i)   The acquisition by any individual, entity or group (within the meaning of
Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended
(the "Exchange Act")) (a "Person") of beneficial ownership (within the meaning
of Rule 13d-3 promulgated under the Exchange Act) of twenty percent (20%) or
more of either (a) the then outstanding shares of common stock of the Company
("Outstanding Company Common Stock") or (b) the combined voting power of
the then outstanding voting securities of the Company entitled to vote
generally in the election of directors ("Outstanding Company Voting
securities"); provided, however, that the following acquisitions shall not
constitute a Change of Control:  (a) any acquisition directly from the
Company (excluding an acquisition by virtue of the exercise of a conversion
privilege unless the security being so converted was itself acquired directly
from the Company), (b) any acquisition by the Company, (c) any acquisition by
any employee benefit plan (or related trust) sponsored or maintained by the
Company or any corporation controlled by the Company or (d) any acquisition by
any corporation pursuant to a reorganization, merger or consolidation, if,
following such reorganization, merger or consolidation, the conditions
described in clauses (a), (b) and (c) of paragraph (iii) of this Section
12(d) are satisfied; or

(ii)   Individuals who, as of the date hereof, constitute the Board of the
Company (as of the date hereof, "Incumbent Board") cease for any reason to
constitute at least a majority of the Board;
provided, however, that any individual becoming a director subsequent to the
date hereof whose election, or nomination for election by the Company's
shareholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a
result of either an actual or threatened election contest (as such terms are
used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or
other actual or threatened solicitation of proxies or consents by or on behalf
of a Person other than the Board; or

(iii)   Approval by the shareholders of the Company of a reorganization,
merger, binding share exchange or consolidation, unless, following such
reorganization, merger, binding share exchange or consolidation (a) more than
sixty percent (60%) of, respectively, the then outstanding shares of
common stock of the corporation resulting from such reorganization, merger,
binding share exchange or consolidation and the combined voting power of the
then outstanding voting securities of such corporation entitled to vote
generally in the election of directors is then beneficially owned,
directly or indirectly, by all or substantially all of the individuals and
entities who were the beneficial owners, respectively, of the Outstanding
Company Common Stock and Outstanding Company Voting Securities immediately
prior to such reorganization, merger, binding share exchange or consolidation
in substantially the same proportions as their ownership, immediately
prior to such reorganization, merger, binding share exchange or consolidation,
of the Outstanding Company Common Stock and Outstanding Company Voting
securities, as the case may be, (b) no Person (excluding the Company, any
employee benefit plan (or related trust) of the Company or such corporation
resulting from such reorganization, merger, binding share exchange or
consolidation and any Person beneficially owning, immediately prior to such
reorganization, merger, binding share exchange or consolidation, directly or
indirectly, twenty percent (20%) or more of the Outstanding Company Common
Stock or Outstanding Company Voting Securities, as the case may be)
beneficially owns, directly or indirectly, twenty percent (20%) or more of,
respectively, the then outstanding shares of common stock of the corporation
resulting from such reorganization, merger, binding share exchange or
consolidation or the combined voting power of the then outstanding voting
securities of such corporation entitled to vote generally in the election
of directors and (c) at least a majority of the members of the board of
directors of the corporation resulting from such reorganization, merger,
binding share exchange or consolidation were members of the Incumbent
Board at the time of the execution of the initial agreement providing for such
reorganization, merger, binding share exchange or consolidation; or

(iv)   Approval by the shareholders of the Company of (a) a complete
liquidation or dissolution of the Company or (b) the sale or other disposition
of all or substantially all of the assets of the Company, other than to a
corporation, with respect to which following such sale or other disposition,
(x) more than sixty percent (60%) of, respectively, the then outstanding shares
of common stock of such corporation and the combined voting power of the then
outstanding voting securities of such corporation entitled to vote generally in
the election of directors is then beneficially owned, directly or indirectly,
by all or substantially all of the individuals and entities who were the
beneficial owners, respectively, of the Outstanding Company Common Stock and
Outstanding Company Voting Securities immediately prior to such sale or other
disposition in substantially the same proportion as their ownership,
immediately prior to such sale or other disposition, of the Outstanding
Company Common Stock and Outstanding Company Voting Securities, as the case
may be, (y) no Person (excluding the Company and any employee benefit plan (or
related trust) of the Company or such corporation and any Person beneficially
owning, immediately prior to such sale or other disposition, directly or
indirectly, twenty percent (20%) or more of the Outstanding Company
Common Stock or Outstanding Company Voting Securities, as the case may be)
beneficially owns, directly or indirectly, twenty percent (20%) or more of,
respectively, the then outstanding shares of common stock of such corporation
and the combined voting power of the then outstanding voting securities of
such corporation entitled to vote generally in the election of directors and
(z) at least a majority of the members of the board of directors of such
corporation were members of the Incumbent Board at the time of the execution
of the initial agreement or action of the Board providing for such sale or
other disposition of assets of the Company.

13.  Administration; Amendment and Termination.

(a)  The Plan shall be administered by a committee consisting of three members
who shall be the current directors of the Company or senior executive officers
or other directors who are not Participants as may be designated by the Chief
Executive Officer ("Committee"), which shall have full authority to construe
and interpret the Plan, to establish, amend and rescind rules and
regulations relating to the Plan, and to take all such actions and make all
such determinations in connection with the Plan as it may deem necessary or
desirable. (b)  The Board may from time to time make such amendments to the
Plan, including to preserve or come within any exemption from liability under
Section 16(b) of the Securities Exchange Act of 1934, as amended (the "Exchange
Act"), as it may deem proper and in the best interest of the Company without
further approval of the Company's stockholders, provided that, to the extent
required under New York law or to qualify transactions under the Plan for
exemption under Rule 16b-3 promulgated under the Exchange Act, no amendment to
the Plan shall be adopted without further approval of the Company's
stockholders and, provided, further, that if and to the extent required for the
Plan to comply with Rule 16b-3 promulgated under the Exchange Act, no amendment
to the Plan shall be made more than once in any six (6) month period that would
change the amount, price or timing of the grants of Common Stock hereunder other
than to comport with changes in the Internal Revenue Code of 1986, as
amended, the Employee Retirement Income Security Act of 1974, as amended, or
the regulations thereunder.  (c)  The Board may terminate the Plan at any time
by a vote of a majority of the members thereof.

14.  Miscellaneous.

(a)  Nothing in the Plan shall be deemed to create any obligation on the part
of the Board to nominate any Director for reelection by the Company's
shareholders or to limit the rights of the shareholders to remove any Director.

(b)  The Company shall have the right to require, prior to the issuance or
delivery of any shares of Common Stock pursuant to the Plan, that a Participant
make arrangements satisfactory to the Committee for the withholding of any
taxes required by law to be withheld with respect to the issuance or delivery
of such shares, including without limitation by the withholding of shares that
would otherwise be so issued or delivered, by withholding from any other
payment due to the Participant, or by a cash payment to the Company by the
Participant.

15.  Governing Law.

The Plan and all actions taken thereunder shall be governed by and construed in
accordance with the laws of the State of Nevada.

The Majestic Companies, Ltd.

By:   /s/ Francis A. Zubrowski
Francis A. Zubrowski, President/Chief Executive Officer

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