Document:

Exhibit 10.14

 

LEASE

 

THIS LEASE made by and between
FREEDOM INVESTMENT, INC., an Ohio Corporation, of Jackson Township, County of
Stark, and the State of Ohio (the “Lessor”), and ADVANTAGE MANAGEMENT GROUP,
INC., an Ohio Corporation, of Jackson Township, County of Stark, and the State
of Ohio (the “Lessee”).

 

ARTICLE 1 - DEMISED PREMISES

 

Lessor, in consideration of the
covenants hereinafter contained, does hereby demise and lease to Lessee, the
office space as more particularly described on Exhibit A, annexed hereto and
made a part hereof and all rights and interests appurtenant thereto, including
parking reasonably necessary for such space, (hereinafter referred to as the
“space”), located at 4895 Dressier Road, NW, Canton, Ohio, which Lessee’s space
is hereinafter referred to as the “Demised Premises”.

 

ARTICLE 2 - TERM AND TERMINATION

 

To have and to hold for and
during the full term of five (5) years, the “Lease Term”, commencing on the 1st
day of March, 1999, and expiring on the 28th day of February, 2004,
unless sooner terminated as provided herein. 
Lessee shall have the option to automatically extend the Lease Term for
one 5-year period (the “Extension Term”) at the end of the Lease Term by
notifying Lessor of its desire to renew this Lease no later than 6 months prior
to the expiration of the Lease Term.

 

ARTICLE 3 - RENT

 

Lessee will pay Lessor as rent
(the rent and the additional rent are collectively the “Rent”) for the Demised
Premises during the Lease Term the sum of $10,500/month, commencing as of the 1st
day of March, 1999, and for each month thereafter, payable in advance on the
first day of each month, for a total of $630,000 during the term hereof.  Lessee shall maintain insurance with respect
to the Demised Premises, as provided by Article 11.  Rent will be payable at the place designated
in this Lease for service of notice upon Lessor, or at such other place as
Lessor may hereinafter designate in writing. 
In the event that Lessee elects to extend the Lease as provided in
Article 2 above, if the PPI (as defined below) for the month of
January 2004 is greater than the PPI for the month of January 1999,
then the $10,500/month rent payable hereunder shall be increased during the
Extension Term by an amount equal to the product obtained by multiplying
$10,5000 by the percentage by which the PPI for the month of January 2004
is greater than the PPI in effect for the month of January 1999.  PPI shall mean, as of any particular date,
the Producer Price Index for All Urban Consumers for the Midwest region
published by the Bureau of Labor Statistics of the U.S.  Department of Labor with a 1982-84=100 base;
provided, however, that (a) if such index (or any index substituted therefor as
hereinafter provided) shall cease to be published, then for purposes of this
paragraph there shall be substituted such other index of a similar kind
published by a governmental or other

 

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nonpartisan organization as may be reasonably
selected by Lessor, and (b) if there is any change in the computation of such
index (or any substitute index), then for purposes of this paragraph such index
as so changed shall be substituted for the index in effect prior thereto, and
such other adjustments shall be made as shall be required, if any, to carry out
the intent of this paragraph, all in such manner as shall be reasonably
determined by Lessor (in which case Lessor, on request, shall advise Lessee of
the index substituted and any such other adjustments).

 

ARTICLE 4 - UTILITIES

 

The Lessee shall pay directly to
the applicable service provider ail gas, electric, water, sewer and telephone
charges solely attributable to the Demised Premises during the Lease term and
if required by the utility company put deposits for gas and electric meters in
its name.  Water will be sub-billed by
Lessor to Lessee.  Lessee shall pay for
all other costs, expenses and utilities of Lessee, including but not limited to
refuse removal.

 

ARTICLE 5 - DUTIES OF LESSEE

 

During the lease term, Lessee
will pay real estate taxes and maintain the Demised Premises, which includes
arranging and paying for janitorial services, lawn care and snow removal.

 

ARTICLE 6 - COMPLIANCE WITH LAWS AND
ORDINANCES

 

Lessee will comply with all
federal, state, county and city laws and ordinances, and rules and regulations,
including but not limited to environmental laws, ordinances, rules and/or
regulations of any duly constituted authority affecting or respecting the
Demised Premises, or the use or occupancy of same, including the business at
any time thereon transacted by Lessee, except that Lessee shall have no
obligation to make any capital improvements to the Demised Premises unless the
same are required because of Lessee’s particular and specific use of the
Demised Premises.  Lessee will not bring
on the Demised Premises, or in any way release or discharge thereon, any
hazardous wastes, chemicals or substances except in compliance with
environmental laws. If, at the termination of the Lease term, there is any
reasonable evidence of environmental contamination at the Demised Premises
caused by Lessee, then Lessee will obtain and pay for a Phase One Inspection of
the Demised Premises and pay all reasonable costs and expenses needed to cure
or correct any environmental Lessee’s use of the Demised Premises.

 

ARTICLE 7 - ACCESS TO DEMISED PREMISES

 

Lessor, and any agents,
employees, officers, and independent contractors of Lessor, shall have access
to the Demised Premises at all reasonable times upon reasonable notice to
Lessee for the purposes of: (a) inspecting and examining the same or for
exhibiting the same to prospective tenants but only during the final 6 months
of the

 

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Lease Term or purchaser; and (b) making such
repairs which it may reasonably deem necessary for the protection or
preservation of the Demised Premises provided, however, that Lessor shall use
reasonable effects not to unreasonably interfere with Lessee’s business, or
access to the Demised Premises.

 

ARTICLE 8 - REPAIR OF DEMISED PREMISES

 

Lessor represents and warrants
that the Demised Premises are in good condition and repair and free of all
defects, latent or otherwise. Lessor shall make all repairs and replacements
necessary to keep the foundation, heat, air conditioning and ventilation
systems, electric, plumbing and other building systems, structure, roof and
roof membrane of the Building in proper order and condition.  Lessor shall make all repairs and
replacements to the Demised Premises for any conditions existing at the
commencement of the Lease Term which violate any law or, if not repaired or
replaced, could result in a violation of laws.

 

Except as set forth in the
proceeding paragraph, Lessee, at all times during the term of this Lease and
any extension or renewal hereof, and at Lessee’s sole expense, shall:

 

a.                                       Keep and maintain the interior portions of
the Demised Premises in a clean and orderly condition and good state of repair.

 

b.                                      Be responsible for any and all repairs
necessitated by Lessee’s, its employees’, agents’, or invitees’ abuse or misuse
of the Demised Premises, except as otherwise provided in Article 14A
hereof.

 

c.                                       Not allow any rubbish, material, or
equipment to be placed or left at the exterior of the Demised Premises without
written permission of Lessor.

 

d.                                      Lessee, upon the expiration or other
termination of this Lease, or any extension or renewal hereof, shall deliver up
and surrender to Lessor possession of the Demised Premises and all improvements
thereon in as good condition and repair as same were at the commencement of the
term hereof, loss by fire or other casualty and ordinary wear and tear only
excepted.

 

ARTICLE 9 - ALTERATIONS

 

Lessee shall not make any
structural alterations, improvements, or additions to the Demised Premises
without the prior written consent of Lessor.

 

ARTICLE 10 - ASSIGNMENT AND SUBLETTING

 

Lessee shall have the right to
assign or otherwise transfer this Lease, or sublet the Demised Premises or any
part thereof, without obtaining Lessor’s consent in connection

 

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with (i) the merger of Lessee with another entity,
or the sale, assignment or transfer of all or any portion of the stock or other
equity interest of Lessee or any other change in the ownership of Lessee or
(ii) the sale, assignment or transfer of all or substantially all of the assets
of Lessee.  Lessee shall give written
notice to Lessor of any such assignment or sublease accompanied by: (a) a
conformed or photostatic copy of the assignment or sublease; and (b) a
statement setting forth in reasonable detail the identity of the proposed
assignee or sublessee, the nature of its business and (for a proposed sublease)
the space to be sublet.

 

Except as provided above, this Lease shall
not be assigned, nor shall the Demised Premises or any part thereof, be sublet
by Lessee, without the prior written consent of Lessor, which consent shall not
be unreasonably withheld or delayed.  No
consent of Lessor to a particular assignment or subletting shall be deemed a
consent to any further assignment or subletting.  Any assignment or subletting shall be deemed a consent to any
further assignment or subletting.  Any
assignment or subletting, even with the consent of Lessor, shall not relieve
Lessee from its liability for the payment of rent or other sums herein
provided, or from the obligation to keep and be bound by the terms, conditions,
and covenants of this Lease.  The
acceptance of rent from any other person, partnership, or corporation shall not
be deemed to be a waiver of any of the provisions of this Lease or the
subletting of the Demised Premises.

 

ARTICLE 11 - INSURANCE

 

Lessee, at all times during the term of this
Lease, or any renewal or extension hereof, and at its expense, will procure,
maintain, and keep in force Commercial Liability Insurance for claims for
personal injury, death or property damage occurring in or about the Demised
Premises, with limits of not less than One Million Dollars ($1,000,000)
combined single limit for bodily injuries, including death and property
damage.  Lessee shall also maintain a
property and casualty insurance policy for its property located in the Demised
Premises.  Lessee will have Lessor named
as an additional insured under such Commercial Liability Insurance policy.

 

Certificates of such insurance will be
delivered to Lessor.  The policy or
policies of insurance will be issued by a company or companies licensed in the
State of Ohio and, to the extent permitted by the insurance company, will
provide that such policy or policies will not be canceled without the Lessor
first being provided written notice thereof at least thirty (30) days before
any such cancellation becomes effective.

 

In the event Lessee, at any time hereunder,
shall refuse or fail to procure such insurance or keep same in full force and
effect, Lessor shall have the right, but not the obligation, to procure such
insurance, on ten (10) days notice to Lessee and the reasonable cost thereof
shall be added to the rental due hereunder on the first of the month following
the date on which Lessor procured such insurance, and the amount thereof shall
be and shall constitute additional rent.

 

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ARTICLE 12 - FIRE AND
CASUALTY CLAUSE

 

If the building on the Demised Premises
shall be damaged or destroyed by fire or other casualty, Lessor, within one
hundred twenty (120) days of settlement with the insurance company, shall make
necessary restorations or repairs to the building for the purpose of restoring
the building to a condition substantially as good as its condition immediately
prior to such fire or other casualty.

 

Such one hundred twenty (120)
day period shall be extended because of delay caused by strikes, Acts of God,
insurrection, civil commotion, riots, weather conditions, or any other cause
beyond Lessor’s control.  Lessee shall
be entitled to a proportionate abatement of Rent during such period of total or
partial untenantability.  If the damage
to the Demised Premises is such that the same cannot reasonably be restored
within 150 days from the date of the casualty, or if the Demised Premises are
not restored as required herein, Lessee shall have the right to terminate this
Lease.

 

ARTICLE 13 - INDEMNITY

 

Lessee shall defend, indemnify
and save Lessor harmless from all claims, damages, causes of action, losses,
costs and/or expenses of any sort of nature, including pollution, hazardous
waste, chemical spills or discharges, and environmental contamination, and from
any liability to any person on account of any damage to person or property
arising out of any failure of Lessee to perform and comply, in any respect,
with any of the requirements and provisions of Lessee under this Lease or
arising from Lessee’s use and occupancy of the Premises.

 

Lessor shall defend, indemnify
and save Lessee harmless from and against any and all claims, causes of action,
losses, costs and expenses (including reasonable attorneys’ fees and
disbursements) arising from or in connection with: (a) any act, omission or
negligence of Lessor or its partners, shareholders, principals, directors,
officers, agents, invitees, employees or contractors; (b) any accident, injury
or damage whatever (unless caused by the gross negligence of Lessee) occurring
in or on the Demised Premises; and (c) any breach or default by Lessor in the
full and prompt payment performance of Lessor’s obligations under this
Lease.  If any claim, action or
proceeding is brought against any of the persons or entities indemnified under
this paragraph for a matter covered by this indemnification, Lessor, upon
notification from the indemnified person or entity, shall defend such claim,
action or proceeding by counsel reasonably satisfactory to Lessee and the
indemnified person or entity.

 

ARTICLE 14 - EXCLUSION OF LESSOR LIABILITY

 

Lessor shall not be liable, at
any time hereunder, for any damages or injuries to Lessee, Lessee’s agents or
employees, or to any other person entering upon the Demised Premises, or to any
equipment or other personal property belonging to Lessee located thereon,
resulting from any defect in the buildings, approaches, walks, parking areas or
resulting from any other cause or causes, unless such injuries, are caused by
the

 

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negligence of Lessor, but only to the extent
not waived by the waiver of subrogation in Article 14A below.

 

ARTICLE 14A - MUTUAL WAIVER OF SUBROGATION

 

Lessor and Lessee hereby waive
all rights of recovery and causes of action against the other and their
respective employees, servants, agents, and all parties claiming through or
under them for any damage to the Demised Premises or the building in which they
are located, or the personal property of the parties, as the cause may be,
caused by any of the perils which are covered or coverable by so-called “all
risk” or special form policies of insurance, whether or not such insurance is
in place.  This clause takes priority
over any conflicting clause in this Lease.

 

ARTICLE 15 - LESSOR’S RIGHT OF RE-ENTRY

 

If Lessee shall fail to pay any
installment of rent, promptly on the day when the same shall become due and
payable hereunder, or if Lessee shall fail to keep and perform any of the other
terms, covenants and conditions of the Lease on its part to be performed, and
in either event, shall continue in default for a period of thirty (30) days
after Lessor demands performance by giving notice to Lessee of such default,
then in such event, and as often as any such event shall occur, Lessor:

 

a.                                       May terminate this Lease, enter into the
Demised Premises, or any part thereof, either with or without process of law,
and expel Lessee, or any person occupying the Demised Premises, and use such
force as may be necessary to do so, and repossess and enjoy the Demised
Premises as in Lessor’s former estate; and

 

b.                                      Shall use all reasonable diligence to relet
the Demised Premises, and in such event, Lessor shall apply the rent received
from any new tenant thereof on any balance due under this Lease, and Lessee
shall be responsible for no more than the remaining balance that may then be
due hereunder should a balance exist.

 

ARTICLE 16 - BANKRUPTCY AND INSOLVENCY

 

This Lease shall terminate ipso facto and automatically, without any
notice or action upon the part of the Lessor, if any action shall be taken or
proceeding shall be commenced by or against Lessee under the Federal Bankruptcy
Code, under any Amendment thereto, or under any other insolvency act, whether
state or federal, and such action or proceeding is not vacated within 120 days,
or if any trustee or receiver shall be appointed for any substantial part the
business or property of Lessee which appointment is not vacated within 45 days,
or if Lessee shall make any assignment for the benefit of creditors.

 

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ARTICLE 17 - NO WAIVER

 

Any demand for rent, made after
same shall fall due, shall have the same effect in law as if made on the date
and the time same was due, any law to the contrary notwithstanding, and the
failure of Lessor to give any notice or to enforce any right or remedy upon any
default of Lessee in the performance of any of Lessee’s obligations hereunder
shall not be deemed a waiver of such rights or remedies by reason of such
default, nor shall it prejudice nor affect any rights or remedies of Lessor
with reference to any subsequent default or breach by Lessee.

 

Further, if at any time Lessor
should expressly waive any right or remedy upon any default of Lessee in the
performance of Lessee’s obligations hereunder, such waiver shall not be deemed
a waiver of subsequent default or breach by Lessee.

 

ARTICLE 18 - PREMISES TO BE FREE OF ALL LIENS

 

Except as permitted by
Article 34, Lessee shall keep the Demised Premises free and clear from any
and all liens, encumbrances, forfeitures or penalties arising from, through and
by the acts of Lessee, its agents and employees.

 

Notwithstanding anything to the
contrary contained in this Lease, Lessee shall have the right to contest in
good faith the correctness or the validity of any lien, encumbrance or claim
therefor if Lessee procures a lien release bond issued by a corporation
authorized to issue surety bonds in the State of Ohio in an amount equal to the
amount of the lien or encumbrance or claim therefor. The bond shall meet the
requirements of Ohio law and shall provide for payment of any sum that the
claimant may recover on the claim, together with costs of prosecuting such a
claim if the claimant prevails in the action.

 

ARTICLE 19 - HOLDING OVER

 

In the event Lessee continues to
occupy the Demised Premises after the last day of the term hereby created, or
after the last day of any renewal or extension of said term, and the Lessor
elects to accept rent thereafter, only a month-to-month tenancy shall be
created and not for any longer period.

 

ARTICLE 20 - SERVICE OF NOTICE

 

Any and all notices, demands or
communications required to be given hereunder shall be in writing and sent by
certified mail return receipt requested, if intended for Lessor, to Freedom
Investment, Inc., 2637 Radford NW, North Canton, OH 44720, and if intended for
Lessee, to Advantage Management Group, Inc., 4895 Dressler Road, NW, Canton, OH
44718, with copies to Sterling Ventures Limited, 276 Post Road West, Westport,
CT 06880 Attn: Douglas Newhouse, and to RFE Investment Partners, 30 Grove St.,
New Canaan, CT 06840 Attn: James Parsons, or to such other place as either
Lessor or Lessee may hereafter designate in writing. Any such notice shall be
deemed to have been given as of the time same is deposited in the United States
mail.

 

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ARTICLE 21 -
EXONERATION OF INDIVIDUALS

 

There shall be no personal
liability on any individual or on any member of any joint venture tenancy in
common, firm or partnership who may comprise the Lessor or any successor to
Lessor’s interest in respect to any of the covenants or conditions of this
Lease.  The Lessee shall look solely to
the equity of the Lessor or its successor in the property (or the proceeds
therefrom) in which the Demised Premises are located in the event of any breach
by Lessor or its successor.

 

ARTICLE 22 - SECURITY DEPOSIT

 

If neither Carl Young or Dennis
Nash are employees of the company, Lessee shall deposit with Lessor the sum of
$10,500.00 in cash, certified check, or official bank check, to be held by
Lessor as security for the payment of the rent and the full and faithful
performance of all the terms, covenants and conditions of this Lease.  If Lessee shall fail at any time to perform
any of the terms, covenants and conditions of this Lease beyond the applicable
grace period, Lessor shall have the right to apply the deposit, or any part
thereof, on account of any such default, without jeopardizing any other rights
reserved to Lessor herein, but in no event shall Lessor be required to use or
apply the deposit for any such purpose. 
If Lessee shall have faithfully performed all of the terms, covenants
and conditions of this Lease, Lessor shall have faithfully performed all of the
terms, covenants and conditions of this Lease, Lessor will refund to Lessee the
aforesaid security deposit, without interest thereon, on termination of this
Lease.

 

ARTICLE 23 - LESSEE’S PERSONAL PROPERTY

 

Lessee shall have the right to
install equipment, shelves and trade fixtures as may be necessary for Lessee’s
business, provided that such do not materially and adversely affect the
structural portions of the Demised Premises. 
Upon the expiration of the original term hereof or the renewal term,
Lessee shall have the right to remove any and all such equipment, shelves, and
trade fixtures, subject to making repairs to the Demised Premises for any
injury caused thereto by such removal. 
If Lessee shall fail to remove such equipment, shelves and trade
fixtures by the expiration of the original term or the renewal term hereof,
then Lessee shall be considered to have abandoned any and all right to any such
equipment, shelves and trade fixtures.

 

ARTICLE 24 - RIGHTS AND REMEDIES
CUMULATIVE

 

The rights and remedies provided
by this Lease are cumulative, and the use of any one right or remedy by either
party shall not preclude or waive its rights to use any or all other
remedies.  Said rights and remedies by
either party shall not preclude or waive its rights to use any or all other
remedies.  Said rights and remedies are
given in addition to any other rights the parties may have by law, statute,
ordinance or otherwise.

 

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ARTICLE 25
- CONVEYANCE BY LESSOR

 

If Lessor shall convey title to
the Demised Premises pursuant to a sale or exchange of property, the Lessor
shall not be liable to Lessee or any immediate or remove assignee or successor
of Lessee as to any act or omission occurring after such conveyance.

 

ARTICLE 26 - SIGNS

 

Lessee shall have the right to
install its signs at the front and rear of the Demised Premises, providing such
signs conform to the requirements and regulations of Jackson Township, if any,
and those established by Lessor, including but not limited to the aesthetic
requirements established by Lessor.

 

ARTICLE 27 - LATE CHARGE

 

In the event Lessee should fail
to pay any installment of rent or any other monetary obligation by the due date
thereof, and such failure should continue thereafter for 10 days or more
following the date on which written notice of such failure is given by Lessor
to Lessee, Lessee shall be obligated to pay Lessor a late charge in the amount
of 11/2% of any such installment of rent or other monetary obligation not paid
within such 10-day period of time, for each month during which such installment
of rent or monetary obligation remains unpaid. 
If neither Carl Young or Dennis Nash are employees of the company and,
during any lease year, Lessor is obligated, because of failures on the part of
Lessee, to give two such notices to Lessee, Lessor thereafter, during the
remainder of such lease year, shall be relieved of its obligations to give
further notices and Lessee shall be required to pay the late charge described
herein if it should fail to pay any installment of rent or other monetary
obligation within 10 days following the due date thereof.

 

ARTICLE 28 - LEGALITY AND MODIFICATIONS

 

No requirement whatsoever of this Lease shall be deemed waived or
varied unless specifically waived or varied in writing, and it is agreed that
this Lease merges all of the oral negotiations, representations and discussions
between the parties or their representatives.

 

ARTICLE 29 - SUCCESSORS AND ASSIGNS

 

All warranties, covenants and
agreements herein shall inure to the benefit of and be binding upon the heirs,
devisees, executors, administrators, successors and assigns of Lessor and
Lessee.

 

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ARTICLE 30
- SEVERABILITY

 

In case any one or more of the
provisions contained in this Lease shall for any reason be held to be invalid,
illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provision thereof, and this Lease
shall be constructed as if such invalid, illegal or unenforceable provision had
never been contained herein.

 

ARTICLE 31 - EFFECTIVE DATE

 

The effective date of this
Lease, for all purposes whatsoever (whether used for purposes of reference or
computation herein or hereafter), shall be March 1, 1999.

 

ARTICLE 32 - LIMITATIONS OF LESSOR’S
RIGHTS

 

Lessor and Lessee acknowledge
that Dennis Nash is currently serving, and is expected to continue to serve, as
Chief Executive Officer of Lessee and Carl Young is currently serving, and is
expected to continue to serve, as Chief Financial Officer of Lessee.  Accordingly, notwithstanding anything in
this Lease to the contrary, during any period when Dennis Nash and/or Carl
Young are employed by Lessee, (i) Lessor shall have no right to (a) declare
Lessee in default under this Lease by reason of any action or failure to act on
the part of Lessee, except for failure to pay not corrected with proper notice
which failure to pay is at the direction of the Lessee’s board of directors,
(b) seek payment for late charges or (c) take any actions which are adverse to
Lessee and (ii) this Lease may not be amended unless such amendment is approved
by a majority of the directors of Lessee (excluding Dennis Nash and Carl
Young).

 

ARTICLE 33 - NO EFFECT ON AGREEMENT AND
PLAN OF MERGER

 

Lessee, Advantage Acquisition Corp.,
Advantage Management Holdings Corp., Rex Molder, Dennis Nash, Jeffrey Rabbitt
and Carl Young are parties to an Agreement and Plan of Merger (the
“Agreement”), dated as of December 31, 1998.  Nothing in this Lease is intended to, or shall be deemed to
modify, (i) any representations, warranties and covenants set forth in the
Agreement or (ii) any indemnification obligations pursuant to the
Agreement.  Rex Molder, Dennis Nash,
Jeffrey Rabbitt and Carl Young are the owners of Lessor.

 

ARTICLE 34 - LEASEHOLD MORTGAGES

 

Section 34.1 Right to
Mortgage Leasehold.  On one or more
occasions and without Lessor’s prior consent, Lessee may mortgage or otherwise
encumber Lessee’s leasehold estate under one or more Leasehold Mortgages (as
hereinafter defined) and/or assign this Lease as security for such Leasehold
Mortgage or Leasehold Mortgages.

 

Section 34.2 Notice to
Lessor.  (a) If Lessee shall, on one
or more occasions, mortgage Lessee’s leasehold estate, and if the holder of
such Leasehold Mortgage shall

 

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provide Lessor with notice of such Leasehold
Mortgage together with a true copy of such Leasehold Mortgage and the name and
address of the Leasehold Mortgagee, Lessor and Lessee agree that, following
receipt of such notice by Lessor, the provisions of this Article shall
apply in respect to each such Leasehold Mortgage.

 

(b)                                 In the event of any assignment of a
Leasehold Mortgage or in the event of a change of address of a Leasehold
Mortgagee or of an Assignee of such Leasehold Mortgage, notice of the new name
and address shall be provided to Lessor, or, if not provided to Lessor, Lessor
may continue to treat the previous Leasehold Mortgagee as the current holder of
such Leasehold Mortgage and may continue to use the previous address as the
current address.

 

(c)                                  Lessor shall promptly, upon receipt of a
communication purporting to constitute the notice provided for by paragraph
(a) above, acknowledge receipt of such communication as constituting the
notice provided for by paragraph (a) above or, in the alternative,
notify Lessee and the Leasehold Mortgagee of the rejection of such
communication as not conforming with the provisions of paragraph (a) and
specify the specific basis of such rejection, but if such communication is
corrected within 20 days of Lessor giving notice to Lessee that the first
communication did not so conform, the subsequent corrected communication shall
be treated as if correct from the date of the first such communication.  After Lessor has received the notice
provided for by paragraph (a) above, Lessee, upon being requested to do
so by Lessor, shall with reasonable promptness provide Lessor with copies of
the note or other obligation secured by such Leasehold Mortgage and of any
other documents pertinent to the Leasehold Mortgage as specified by
Lessor.  If requested to do so by
Lessor, Lessee shall thereafter also provide Lessor from time to time with a
copy of each amendment or other modification or supplement to such
instruments.  All recorded documents
shall be accompanied by the appropriate certification of the proper clerk or
register as to their authenticity as true and correct copies of official
records and all non-recorded documents shall be accompanied by a certification
by Lessee that such documents are true and correct copies of the
originals.  From time, to time upon
being requested to do so by Lessor, Lessee shall also notify Lessor of the date
and place of recording and other pertinent recording data with respect to such
instruments as have been recorded.

 

Section 34.3 Definitions.  The term “Leasehold Mortgage”
as used in this Article shall include a mortgage, a deed of trust, a deed
to secure debt, or other security instrument by which Lessee’s leasehold estate
is mortgaged, conveyed, assigned, or otherwise transferred, to secure a debt or
other obligation.  The term “Leasehold Mortgagee” as used in this
Article shall refer to a holder of record from time to time of a Leasehold
Mortgage in respect to which the notice provided for by paragraph (a) of
Section 34.2 has been given and as to which the provisions of this
Article are applicable, and to its successors and assigns.  Lessor, without liability to Lessee or any
Leasehold Mortgagee with an adverse claim, may rely upon a title report issued
by a title insurance company doing business in the state of Ohio, which is a
member of the Ohio Board of Title Underwriters as the basis for determining
whether a Leasehold Mortgagee is a holder of record.

 

Section 34.4 Consent of Leasehold Mortgagee Required.  No cancellation, surrender, modification,
termination, amendment, restatement or any or all of the

 

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foregoing or anything of like import with
respect to this Lease nor any merger of the fee estate with the leasehold
estate hereunder shall be effective as to any Leasehold Mortgagee unless
consented to in writing by such Leasehold Mortgagee.  Notwithstanding anything contained in this Article to the
contrary, Lessor may terminate this Lease without the consent of Leasehold
Mortgagee or any other person or entity if Lessee has tendered to all Leasehold
Mortgagee(s) a prepayment of all sums due under all Leasehold Mortgages and due
under documents entered into with respect thereto.

 

Section 34.5 Default Notice.  Lessor, upon providing Lessee any notice of:
(i) default under this Lease, or (ii) a termination of this Lease, or (iii) a
matter on which Lessor may predicate or claim a default, shall at the same time
provide a copy of such notice to every Leasehold Mortgagee.  Each such notice to Lessee and Leasehold
Mortgagee shall specify the nature and amount of money due and owing to Lessor
as of the date of such notice, if such notice is given with respect to a
monetary default and/or shall specify the nature of such other default if such
notice is given with respect to a non-monetary default.  No such notice by Lessor to Lessee shall be
deemed to have been duly given unless and until a copy thereof has been given
to every Leasehold Mortgagee.  From and
after such notice has been given to a Leasehold Mortgagee, such Leasehold
Mortgagee shall have the same period, after the giving of such notice upon it,
to remedy any default (or acts or omissions which are the subject matter of
such notice) or cause the same to be remedied, as is given Lessee after the
giving of such notice to Lessee under the Lease, plus in each instance, the
additional periods of time specified in Section 34.6 and Section 34.7
to remedy, commence remedying or cause to be remedied the defaults (or acts or
omissions which are the subject matter of such notice) specified in any such
notice.  Lessor shall accept such
performance by or at the instigation of such Leasehold Mortgagee to take any such
action at such Leasehold Mortgagee’s option and does hereby authorize entry
upon the Premises and Building by the Leasehold Mortgagee for such purpose.

 

Section 34.6 Notice to Leasehold Mortgagee.  Anything contained in this Lease to the
contrary notwithstanding, if any default shall occur which entitles Lessor to
terminate this Lease, Lessor shall have no right to terminate this Lease
unless, following the expiration of the period of time given Lessee to cure
such default (or the act or omission which gave rise to such default), Lessor
shall notify Leasehold Mortgagee of Lessor’s intent to so terminate at least
thirty (30) days in advance of the proposed effective date of such termination
if such default is capable of being cured by the payment of money, and at least
forty-five (45) days in advance of the proposed effective date of such
termination if such default is not capable of being cured by he payment of
money (said 30 or 45 day period hereinafter referred to as the “Termination Notice Period”).  The provisions of Section 34.7
below of this Article shall apply if, during such 30 or 45 day Termination
Notice Period, any Leasehold Mortgagee shall:

 

(1)                                  notify Lessor of such Leasehold Mortgagee’s
desire to cure the default which is the subject of such notice; and

 

(2)                                  pay or cause to be paid all rent, additional
rent, and other payments then due and in arrears as specified in the
Termination Notice to such Leasehold Mortgagee and which may become due during
such 30 or 45 day period; and

 

12

 

(3)                                  comply or in good faith, with reasonable
diligence and continuity, commence to comply with all non-monetary requirements
of this Lease then in default and reasonably susceptible of being complied with
by such Leasehold Mortgagees provided, however, that such Leasehold Mortgagee
shall not be required during such 45-day period to cure or commence to cure any
default consisting of Lessee’s failure to satisfy and discharge any lien,
charge or encumbrance against the Lessee’s interest in this Lease or the Premises
or Building junior in priority to the lien of the Leasehold Mortgage held by
such Leasehold Mortgagee.

 

Section 34.7 Procedure on Default.  If Lessor shall elect to terminate this
Lease by reason of any default of Lessee, and a Leasehold Mortgagee shall have
proceeded in the manner provided for by Section 34.7 of this
Article, the specified date for the termination of this Lease as fixed by
Lessor in its Termination Notice shall be extended for a period of six months,
provided that such Leasehold Mortgagee shall, during such six month period:

 

(a)                                  Pay or cause to be paid the Base Rent,
Additional Rent and other monetary obligations of Lessee under this Lease as
the same become due, and continue its good faith efforts to perform all of
Lessee’s other obligations under this Lease, excepting (i) obligations of
Lessee to satisfy or otherwise discharge any lien, charge or encumbrance
against Lessee’s interest in this Lease or the Premises or Building junior in
priority to the lien of the mortgage held by such Leasehold Mortgagee and (ii)
past non-monetary obligations then in default and not reasonably susceptible of
being cured by such Leasehold Mortgagee; and

 

(b)                                 If not enjoined or stayed, take steps to
acquire or sell Lessee’s interest in this Lease by foreclosure of the Leasehold
Mortgage or other appropriate means and prosecute the same to completion with
reasonable diligence.

 

If at the end of such six (6)
month period such Leasehold Mortgagee is complying with the aforesaid
provisions of this Section, this Lease shall not then terminate, and the time
for completion by such Leasehold Mortgagee of its proceedings shall continue so
long as such Leasehold Mortgagee proceeds to complete steps to acquire or sell
Lessee’s interest in this Lease by foreclosure of the Leasehold Mortgage or by
other appropriate means with reasonable diligence and continuity.  Nothing in this Section 34.7,
however, shall be construed to extend the Lease beyond the original term
thereof, as extended by any options to extend the Lease Term.

 

If a Leasehold Mortgagee
complies with the aforesaid provisions of this Section, upon the acquisition of
Lessee’s estate herein by such Leasehold Mortgagee or its designee or any other
purchaser at a foreclosure sale or otherwise (and the discharge of any lien,
charge or encumbrance against the Lessee’s interest in this Lease or the
Premises or Building which is junior in priority to the lien of the Leasehold
Mortgage held by such Leasehold Mortgagee and which the Lessee is obligated to
satisfy and discharge by reason of the terms of this Lease) this Lease shall
continue in full force and effect as if Lessee had not defaulted under this
Lease.

 

13

 

For the purposes of this Article, the making
of a Leasehold Mortgage shall not be deemed to constitute an assignment or
transfer of this Lease or of the leasehold estate hereby created, nor shall any
Leasehold Mortgagee or its successor by assignment or in foreclosure or any
transfer in lieu of foreclosure, as such, be deemed to be an assignee or
transferee of this Lease or of the leasehold estate hereby created so as to
require such Leasehold Mortgagee, as such, to secure Lessor’s consent to such
assignment or transfer or to assume the performance of any of the terms,
covenants or conditions on the part of the Lessee to be performed hereunder,
but the purchaser at any sale of this Lease and of the leasehold estate hereby
created in any proceedings for the foreclosure of any Leasehold Mortgage, or
the assignee or transferee of this Lease and of the leasehold estate hereby
created under any instrument of assignment or transfer in lieu of the
foreclosure of any Leasehold Mortgage shall be deemed to be an assignee or
transferee within the meaning of this Article, and shall be deemed to have
agreed to perform all of the terms, covenants and conditions on the part of the
Lessee to be performed hereunder.  If
the Leasehold Mortgagee or its designee shall become holder of the leasehold
estate and if the Premises and/or Building shall have been or become materially
damaged on, before or after the date of such purchase and assignment, the
Leasehold Mortgagee or its designee shall be obligated to repair, replace or
reconstruct the Building.

 

Any Leasehold Mortgagee or other
acquirer of the leasehold estate of Lessee pursuant to foreclosure, assignment
in lieu of foreclosure or other proceedings may, upon acquiring Lessee’s
leasehold estate, without further consent of Lessor, sell and assign the
leasehold estate on such terms and to such persons and organizations as are
acceptable to such Mortgagee or acquirer and thereafter be relieved of all
obligations under this Lease; provided that such assignee has delivered to
Lessor its written agreement to be bound by all of the provisions of this
Lease.

 

Notwithstanding any other
provisions of this Lease, any sale of this Lease and of the leasehold estate
hereby created in any proceedings for the foreclosure of any Leasehold
Mortgage, or the assignment or transfer of this Lease and of the leasehold
estate hereby created in lieu of the foreclosure of any Leasehold Mortgage
shall be deemed to be a permitted sale, transfer or assignment of this Lease
and of the leasehold estate hereby created.

 

Section 34.8 New Lease.  In the event of the termination
of this Lease as a result of Lessee’s default, Lessor shall, in addition to
providing the notices of default and termination as required by Section 34.5,
provide each Leasehold Mortgagee with written notice that the Lease has been
terminated, together with a statement of all sums which would at that time be
due under this Lease but for such termination, and of all other defaults, if
any, then known to Lessor.  Lessor
agrees to enter into a new lease (“New Lease”)
of the Demised Premise with such Leasehold Mortgagee or its designee for the
remainder of the Lease Term, effective as of the date of termination, at the
Base Rent and Additional Rent, and upon the terms, covenants and conditions
(including all options to renew but excluding requirements which are not
applicable or which have already been fulfilled) of this Lease, provided:

 

(a)                                  Such Leasehold Mortgagee shall make written
request upon Lessor for such New Lease within sixty (60) days after the date
such

 

14

 

Leasehold Mortgagee receives Lessor’s Notice
of Termination of this Lease given pursuant to this Section 34.8.

 

(b)                                 Such Leasehold Mortgagee or its designee
shall pay or cause to be paid to Lessor at the time of the execution and
delivery of such New Lease (including sums due after the date of the notice set
forth in the first paragraph of this Section 34.8 if Lessor shall
give Leasehold Mortgagee a further notice stating sums due as of said later
notice date) any and all sums which would at the time of execution and delivery
thereof be due pursuant to this Lease but for such termination and, in addition
thereto, all reasonable expenses, including reasonable attorney’s fees, which
Lessor shall have incurred by reason of such termination and the execution and
delivery of the New Lease and which have not otherwise been received by Lessor
from Lessee or other party in interest under Lessee.  Upon the execution of such New Lease, Lessor shall allow to the Lessee
named therein as an offset against the sums otherwise due under this paragraph
(b) or under the New Lease, an amount equal to the net income derived by
Lessor from the Premises during the period from the date of termination of this
Lease to the commencement date of the New Lease.  In the event of a controversy as to the amount to be paid to
Lessor pursuant to this paragraph (b), the payment obligation shall be
satisfied if Lessor shall be paid the amount not in controversy, and the
Leasehold Mortgagee or its designee shall agree to pay any additional sum
ultimately determined to be due plus interest (at the rate charged from time to
time by the Chase Manhattan Bank, N.A., in New York, New York for unsecured
loans to its most creditworthy corporate customers, plus one (1%) percent per
annum) and such obligation shall be adequately secured.

 

(c)                                  Such Leasehold Mortgagee or its designee
shall agree to remedy any of Lessee’s defaults of which said Leasehold
Mortgagee was notified by Lessor’s notice of termination and which are
reasonably susceptible of being so cured by Leasehold Mortgagee or its
designee.

 

(d)                                 Lessor agrees that any New Lease made
pursuant to this Section, and any renewal of this Lease as permitted under
Article Five, which are entered into with a Leasehold Mortgagee in
accordance with the terms of this Lease, shall be prior to any mortgage or
other lien, charge or encumbrance on the fee of the Premises and the Lessee
under such New Lease shall have the same right, title and interest in and to
the Premises and Building as Lessee had under this Lease.

 

(e)                                  The Lessee under any such New Lease shall be
liable to perform the obligations on the Lessee by such New Lease only during
the period such person has ownership of such leasehold estate.

 

Section 34.9 New Lease Priorities.  If more than one Leasehold Mortgagee shall
request a New Lease pursuant to Section 34.8, Lessor shall enter
into such New Lease with the Leasehold Mortgagee whose mortgage is prior in
lien, or with the designee of such Leasehold Mortgagee unless such Leasehold Mortgagee
directs Lessor in writing to

 

15

 

enter into such New Lease with a Leasehold
Mortgagee of lower priority.  Lessor,
without liability to Lessee or any Leasehold Mortgagee with an adverse claim,
may rely upon a title report issued by a responsible title insurance company
doing business in the state of Connecticut as the basis for determining the
appropriate Leasehold Mortgagee who is entitled to such New Lease.

 

Section 34.10                          Leasehold Mortgagee Need Not
Cure Specified Defaults.  Nothing herein contained shall require any
Leasehold Mortgagee or its designee as a condition to its exercise of right
hereunder to cure any default of Lessee not reasonably susceptible of being
cured by such Leasehold Mortgagee or its designee, including, but not limited
to, any Articles of the Lease which may impose conditions of default not
reasonably susceptible to being cured by a Leasehold Mortgagee, or a subsequent
owner of the leasehold estate through foreclosure, in order to comply with the
provisions of Article 34 or as a condition of entering into the New
Lease.

 

Section 34.11                          Eminent Domain. 
Lessee’s share of the proceeds from any taking or condemnation shall be
disposed of as provided for by any Leasehold Mortgage.

 

Section 34.12                          Casualty Loss.  A
standard mortgagee clause naming each Leasehold Mortgagee shall be added to any
and all insurance policies required to be carried by Lessee hereunder on
condition that the insurance proceeds are to be applied in the manner specified
in this Lease and the Leasehold Mortgage shall so provide.

 

Section 34.13                          No Merger.  So
long as any Leasehold Mortgage is in existence, unless all Leasehold Mortgagees
shall otherwise expressly consent in writing, the fee title to the Premises and
the leasehold estate of Lessee created by this Lease shall not merge but shall
remain separate and distinct, notwithstanding the acquisition of said fee title
and said leasehold estate by Lessor or by Lessee or by a third party, by
purchase or otherwise.

 

Section 34.14                          Future Amendments. 
(a)          In the event on any occasions hereafter
Lessee seeks to mortgage the Leasehold Estate, Lessor agrees to amend this
Lease from time to time to the extent reasonably requested by an Institutional
Lender proposing to make Lessee a loan secured by a first lien upon Lessee’s
leasehold estate, provided that such proposed amendments do not materially and
adversely affect the rights of Lessor or his interest in the Premises.  All reasonable expenses incurred by Lessor
in connection with any such amendment shall be paid by Lessee.

 

(b)                                 In the event on any occasions hereafter
Lessor seeks to mortgage Lessor’s fee estate, Lessee agrees to amend this Lease
from time to time to the extent reasonably requested by an Institutional Lender
proposing to make Lessor a loan secured by a first lien upon Lessor’s fee
estate, provided that such proposed amendments do not materially and adversely
affect the rights of Lessee or its interest in the Leasehold Estate.  All reasonable expenses incurred by Lessee
in connection with any such amendment shall be paid by Lessor.

 

Section 34.15                          Notices. 
Notices from Lessor to the Leasehold Mortgagee shall be mailed to the
address furnished Lessor pursuant to Section 34.2 hereof, and those
from the Leasehold Mortgagee to Lessor shall be mailed to the address
designated

 

16

 

by Lessor pursuant to the provisions of Article 20
hereof.  Such notices, demands and
requests shall be given in the manner described in Article 20 and
shall in all respects be governed by the provisions of that Article.

 

Section 34.16                          Erroneous
Payments.  No payment made to Lessor by a
Leasehold Mortgagee shall constitute agreement that such payment was, in fact,
due under the terms of this Lease; and a Leasehold Mortgagee having made any
payment to Lessor pursuant to Lessor’s wrongful, improper or mistaken notice or
demand shall be entitled to the return of any such payment or portion thereof
provided he shall have made demand therefor not later than one year after the
date of its payment.

 

Section 34.17                          Possessory
Rights.  The mere taking possession of
the Premises and Building by an institutional Leasehold Mortgagee, in and of
itself, shall not be deemed to be an Event of Default under this Lease.

 

Section 34.18                          Right
to Settle.  

 

(a)                               In the event that
the Premises or Building, or any part thereof, shall be taken in condemnation
proceedings or by exercise of any right of eminent domain or by agreement
between Lessor and Lessee and those authorized to exercise such right, any
Leasehold Mortgagee shall have the right to participate therein for the purpose
of protecting its interest hereunder provided that each such Leasehold
Mortgagee shall pay its own expenses therein. 
If so provided in the Leasehold Mortgage held by such Leasehold
Mortgagee, and notwithstanding any provision of this Lease to the contrary, no
such proceeding shall be settled, and no such agreement executed, by Lessor and
Lessee without the prior written consent thereto of any Leasehold Mortgagee
which consent shall not be unreasonably withheld or delayed, provided, however,
that the terms of any such approved settlement or agreement shall be subject to
and in compliance with all other terms and conditions of this Lease.

 

(b)                              In the event that
the Premises or Building shall be destroyed or damaged in whole or in part by
reason of fire or by reason of any other causes, and notwithstanding any
provision of this Lease to the contrary, no settlement of insurance proceeds
shall be deemed final and binding without the prior written consent thereto of
any Leasehold Mortgagee whose Leasehold Mortgage, by its terms, requires it to
consent to all such settlements of insurance proceeds, provided, however, that
any such settlement shall be subject to and in compliance with all other terms
and conditions of this Lease.

 

17

 

IN WITNESS WHEREOF,
the parties hereto have hereunto executed this Lease on the respective dates
set forth below.

 

 

	
  In the Presence of:

  	
   

  	
   

  	
  LESSOR:

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  FREEDOM INVESTMENT, INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/

  	
   

  	
  By

  	
  /s/ Carl H.Young

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Charlotte J. Swegheimer

  	
   

  	
   

  	
  4/29/99

  	
   

  
	
   

  	
   

  	
   

  	
  Date Executed by Lessor

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  In the Presence of:

  	
   

  	
   

  	
  LESSEE:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  ADVANTAGE MANAGEMENT GROUP

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/

  	
   

  	
  By

  	
  /s/ Doug Newhouse

  	
   

  
	
   

  	
   

  	
   

  	
  Doug Newhouse, Chairman

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Charlotte J. Swegheimer

  	
   

  	
   

  	
  4/29/99

  	
   

  
	
   

  	
   

  	
   

  	
  Date Executed by Lessee

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/

  	
   

  	
  By

  	
  /s/ Dennis Nash

  	
   

  
	
   

  	
   

  	
   

  	
  Dennis Nash, CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Charlotte J. Swegheimer

  	
   

  	
   

  	
  4/29/99

  	
   

  
	
   

  	
   

  	
   

  	
  Date Executed by Lessee

  	
   

  
							

 

18

 

	
  STATE OF OHIO

  	
  )

  	
   

  
	
  COUNTY OF STARK

  	
  )

  	
  SS.

  

 

Before me, a Notary Public in and for said County, personally appeared
Advantage Management Group, an Ohio corporation, by Dennis Nash, the duly
authorized, empowered and acting C.E.O., who said he is duly authorized in
these presence, and that he acknowledged his signature to be his free act and
deed, individually and as C.E.O. on behalf of the corporation.

 

IN TESTIMONY WHEREOF, I have set my hand and official seal at North
Canton, Ohio, this 29th day of April, 1999.

 

	
   

  	
  /s/ Charlotte J. Swegheimer

  	
   

  
	
   

  	
  NOTARY PUBLIC

  

 

 

	
  STATE OF OHIO

  	
  )

  	
   

  
	
  COUNTY OF STARK

  	
  )

  	
  SS.

  

 

Before me, a Notary Public in and for said County, personally appeared
Freedom Investment, Inc., an Ohio corporation, by Carl Young, the duly
authorized, empowered and acting, President, who said he is duly authorized in
these presence, and that he acknowledged his signature to be his free act and
deed, individually and as President on behalf of the corporation.

 

IN TESTIMONY WHEREOF, I have set my hand and official seal at North
Canton, Ohio, this 29th day of April, 1999.

 

	
   

  	
  /s/ Charlotte J. Swegheimer

  	
   

  
	
   

  	
  NOTARY PUBLIC

  
	
   

  	
   

  
	 
	
   

  	
  CHARLOTTE J. SWEGHEIMER

  	
   

  	 

	 
	
   

  	
  NOTARY PUBLIC

  	
   

  	 

	 
	
   

  	
  STATE OF OHIO

  	
   

  	 

	 
	
   

  	
  MY COMMISSION EXPIRES MARCH 20,2001

  	
   

  	 

						

 

19Exhibit 10.16

 

THE KENAN ADVANTAGE GROUP, INC.

2001 EQUITY COMPENSATION PLAN

 

The purpose of The Kenan Advantage Group, Inc. 2001 Equity Compensation
Plan (the “Plan”) is to provide (i) designated employees of The Kenan
Advantage Group, Inc., a Delaware corporation (the “Company”), and its
subsidiaries, (ii) certain consultants and advisors who perform services for
the Company or its subsidiaries, and (iii) non-employee members of the Board of
Directors of the Company (the “Board”) with the opportunity to receive
grants of options to purchase shares of the Company’s Common Stock, par value
$.001 (the “Company Stock”), and grants of restricted shares of Company
Stock.  The Company believes that the
Plan will encourage participants to contribute to the growth of the Company, to
the benefit of the Company’s stockholders, and will further align the interests
of the participants and of the stockholders.

 

1.                                       Administration.

 

(a)                                  Authority.  The Plan shall be administered and
interpreted by the Board or a committee appointed by the Board (the “Committee”),
which Committee, unless otherwise determined by the Board, shall be constituted
in accordance with the requirements relating to the administration of equity
compensation plans under applicable corporate laws, federal and state
securities laws, the Internal Revenue Code of 1986, as amended (the “Code”),
any stock exchange or quotation system on which the Company Stock is listed or
quoted and the applicable laws of any foreign country or jurisdiction where
Grants (as defined below) are awarded under the Plan.  If for any reason the Committee does not comply with any such
requirements, such non-compliance shall not affect the validity of any Grant
made by the Committee or any interpretations or other actions of the Committee.  The Board may ratify or approve any Grants
made to participants.  References in the
Plan to the “Board”, as they relate to Plan administration, shall be deemed to
refer to the Committee if a Committee is appointed to administer the Plan.

 

(b)                                 Board Authority.  The Board shall have the sole authority to
(i) determine the persons to whom Grants shall be made under the Plan, (ii)
determine the type, size and terms of the Grants to be made to each such
individual, (iii) determine the time when the Grants will be made and the
duration of any applicable exercise or restriction period, including the
criteria for exercisability and the acceleration of exercisability and (iv)
deal with any other matters arising under the Plan.

 

(c)                                  Board
Determinations.  The Board shall
have full power and authority to administer and interpret the Plan, to make
factual determinations and to adopt or amend any rules, regulations, agreements
and instruments for implementing the Plan and for the conduct of its business
as it deems necessary or advisable, in its sole discretion.  The Board’s interpretations of the Plan and
all determinations made by the Board pursuant to the powers vested in it
hereunder shall be

 

1

 

conclusive and binding on all persons having
any interest in the Plan or in any awards granted hereunder.

 

2.                                       Grants.

 

Awards under the Plan may consist of grants of options to purchase
shares of Company Stock as described in Section 5 (“Options”),
including Options intended to qualify as “incentive stock options” within the
meaning of section 422 of the Code (“Incentive Stock Options”) and
Options that do not so qualify (“Nonqualified Stock Options”) and/or
restricted shares of Company Stock as described in Section 6 (“Restricted
Stock”) ( collectively, “Grants”). 
All Grants shall be subject to the terms and conditions set forth herein
and to such other terms and conditions consistent with the Plan as the Board
deems appropriate and as are specified in writing by the Board to the
individual in a grant instrument or an amendment to the grant instrument (the “Grant
Instrument”).   Grants under a
particular Section of the Plan need not be uniform among the grantees.

 

3.                                       Shares
subject to the Plan.

 

(a)                                  Shares  Authorized.  Subject to adjustment as specified below, the aggregate number of
shares of Company Stock that may be issued or transferred under the Plan is
[592,189 less number of shares subject to currently outstanding options]. The
shares may be authorized but unissued shares of Company Stock or reacquired
shares of Company Stock held in its treasury, including shares purchased by the
Company on the open market for purposes of the Plan.  If and to the extent Options granted under the Plan terminate,
expire or are canceled, exchanged or surrendered without having been exercised
or if any shares of Restricted Stock are forfeited, the shares subject to such
Grants shall again be available for purposes of the Plan.

 

(b)                                 Adjustments.  If there is any change in the number or kind
of shares of Company Stock outstanding (i) by reason of a stock dividend,
spinoff, recapitalization, stock split, or combination or exchange of shares,
(ii) by reason of a merger, reorganization or consolidation in which the
Company is the surviving corporation, (iii) by reason of a reclassification or
change in par value, or (iv) by reason of any other extraordinary or unusual
event affecting the outstanding Company Stock as a class without the Company’s
receipt of consideration, or if the value of outstanding shares of Company
Stock is substantially reduced as a result of a spinoff or the Company’s
payment of an extraordinary dividend or distribution, the aggregate number of
shares of Company Stock that may be issued or transferred under the Plan, the number
of shares covered by outstanding Options, the kind of shares issued under the
Plan, and the price per share or the applicable market value of such Grants may
be appropriately adjusted by the Board to reflect any increase or decrease in
the number of, or change in the kind or value of, issued shares of Company
Stock to preclude, to the extent practicable, the enlargement or dilution of
rights and benefits under such Grants; provided, however, that any fractional
shares resulting from such adjustment shall be

 

2

 

eliminated. Any adjustments determined by the Board shall be final,
binding and conclusive.

 

4.                                       Eligibility
for Participation.

 

(a)                                  Eligible Persons.  All employees of the Company and its
subsidiaries (“Employees”), including Employees who are officers or
members of the Board, and all members of the Board who are not Employees (“Non-Employee
Directors”) shall be eligible to participate in the Plan. Consultants and
advisors who perform services for the Company or any of its subsidiaries (“Advisors”)
shall be eligible to participate in the Plan.

 

(b)                                 Selection of
Grantees.  The Board shall select
the Employees, Non-Employee Directors and Advisors to receive Grants and shall
determine the number of shares of Company Stock subject to a particular Grant
in such manner as the Board determines. Employees, Advisors and Non-Employee
Directors who receive Grants under the Plan shall hereinafter be referred to as
“Grantees.”

 

5.                                       Option
Grants.

 

(a)                                  Number of Shares.  Subject to the terms of the Plan, the Board
shall determine the number of shares of Company Stock that will be subject to
each Grant of Options to Employees, Non-Employee Directors and Advisors.

 

(b)                                 Type of Option and
Price.

 

(i)                                     The Board may grant
Incentive Stock Options or Nonqualified Stock Options or any combination of
Incentive Stock Options and Nonqualified Stock Options, all in accordance with
the terms and conditions set forth herein. Incentive Stock Options may be
granted only to Employees of the Company or any “subsidiary” of the Company
(within the meaning of Section 424 of the Code).  Nonqualified Stock Options may be granted to Employees,
Non-Employee Directors and Advisors.

 

(ii)                                  The purchase price
(the “Exercise Price”) of Company Stock subject to an Option shall be
determined by the Board and may be equal to, greater than, or less than the
Fair Market Value (as defined below) of a share of Company Stock on the date
the Option is granted; provided, however, that (x) the Exercise Price of an
Option shall be no lower than the par value of the Company Stock, (y) the
Exercise Price of an Incentive Stock Option shall be equal to, or greater than,
the Fair Market Value of a share of Company Stock on the date the Incentive
Stock Option is granted and (z) an Incentive Stock Option may not be granted to
an Employee who, at the time of grant, owns stock possessing more than 10% of
the total combined voting power of all classes of stock of the Company or any
“parent” or “subsidiary” of the Company (within the meaning of section 424
of the

 

3

 

Code), unless the Exercise Price per share is not less than 110% of the
Fair Market Value of Company Stock on the date of grant.

 

(iii)                               If the Company Stock is
publicly traded, then the Fair Market Value per share shall, unless otherwise
required by the Code or other applicable law, be determined as follows: (x) if
the principal trading market for the Company Stock is a national securities
exchange or the Nasdaq National Market, the last reported sale price thereof on
the relevant date or (if there were no trades on that date) the latest
preceding date upon which a sale was reported, or (y) if the Company Stock is
not principally traded on such exchange or market, the mean between the last
reported “bid” and “asked” prices of Company Stock on the relevant date, as
reported on Nasdaq or, if not so reported, as reported by the National Daily
Quotation Bureau, Inc. or as reported in a customary financial reporting service,
as applicable and as the Board determines. 
If the Company Stock is not publicly traded or, if publicly traded, is
not subject to reported transactions or “bid” or “asked” quotations as set
forth above, the Fair Market Value per share shall be as determined by the
Board.

 

(c)                                  Option Term.  The Board shall determine the term of each
Option.  The term of any Option shall
not exceed ten years from the date of grant. 
However, an Incentive Stock Option that is granted to an Employee who,
at the time of grant, owns stock possessing more than 10% of the total combined
voting power of all classes of stock of the Company, or any “parent” or
“subsidiary” of the Company (within the meaning of section 424 of the
Code), may not have a term that exceeds five years from the date of grant.

 

(d)                                 Exercisability of
Options.  Options shall become
exercisable in accordance with such terms and conditions, consistent with the
Plan, as may be determined by the Board and specified in the Grant
Instrument.  The Board may accelerate
the exercisability of any or all outstanding Options at any time for any
reason.

 

(e)                                  Termination of
Employment, Disability or Death.

 

(i)                                     Except as provided
below or in a Grantee’s Grant Instrument, an Option may only be exercised while
the Grantee is employed by the Company as an Employee, Advisor or member of the
Board.  In the event that a Grantee
ceases to be employed by the Company for any reason other than “disability”,
death or “termination for cause”, any Option which is otherwise exercisable by
the Grantee shall terminate unless exercised within 90 days after the date on
which the Grantee ceases to be employed by the Company (or within such other
period of time as may be specified by the Board), but in any event no later
than the date of expiration of the Option term.  Any of the Grantee’s Options that are not otherwise exercisable
as of the date on which the Grantee ceases to be employed by the Company shall
terminate as of such date.

 

4

 

(ii)                                  In the event the
Grantee ceases to be employed by the Company on account of a “termination for
cause” by the Company, any Option held by the Grantee shall terminate as of the
date the Grantee ceases to be employed by the Company.

 

(iii)                               In the event the Grantee
ceases to be employed by the Company because the Grantee is “disabled”, any
Option which is otherwise exercisable by the Grantee shall terminate unless
exercised within one year after the date on which the Grantee ceases to be
employed by the Company (or within such other period of time as may be
specified by the Board), but in any event no later than the date of expiration
of the Option term.  Any of the
Grantee’s Options which are not otherwise exercisable as of the date on which
the Grantee ceases to be employed by the Company shall terminate as of such
date.

 

(iv)                              If the Grantee dies while
employed by the Company or within 90 days after the date on which the Grantee
ceases to be employed on account of a termination of employment specified in
Section 5(e)(i) or (iii) above (or within such other period of time as may
be specified by the Board), any Option that is otherwise exercisable by the
Grantee shall terminate unless exercised within one year after the date on
which the Grantee ceases to be employed by the Company (or within such other
period of time as may be specified by the Board), but in any event no later
than the date of expiration of the Option term.  Any of the Grantee’s Options that are not otherwise exercisable
as of the date on which the Grantee ceases to be employed by the Company shall
terminate as of such date.

 

(v)                                 For purposes of this
Section 5(e) and Section 6:

 

(A)                              The term “Company”
shall mean the Company and its parent and subsidiary corporations.

 

(B)                                “Employed by the
Company” shall mean employment or service as an Employee, Advisor or member
of the Board (so that, for purposes of exercising Options and satisfying
conditions with respect to Restricted Stock, a Grantee shall not be considered
to have terminated employment or service until the Grantee ceases to be an
Employee, Advisor and member of the Board), unless the Board determines
otherwise.

 

(C)                                “Disability”
shall mean, unless otherwise specified in a Grantee’s Grant Instrument, a
Grantee’s permanent and total disability within the meaning of
section 22(e)(3) of the Code.

 

(D)                               “Termination for
cause” shall mean, except to the extent specified otherwise by the Board,
(i) termination for “cause,” as defined in

 

5

 

an employment agreement between the Grantee and the Company in
existence on the date of grant, if any, or (ii) if the Grantee has no
employment agreement with the Company or such employment agreement does not
contain a definition of “cause,” the Grantee’s (1) being under the influence of
an alcoholic beverage or any unprescribed drug or any combination thereof while
on the Company’s premises or in the course or scope of his employment, (2)
engaging in any reckless conduct or activity while in the course or scope of
his employment, (3) being convicted or entering a plea of “guilty” or “nolo
contendere” to any crime involving theft, breach of a fiduciary duty, fraud or
moral turpitude, (4) gross negligence or neglect in the performance of
Grantee’s duties, (5) gross insubordination, (6) refusal to report for
scheduled work duty for other than good reason, (7) unauthorized disclosure or
use of any of the Company’s confidential information, or (8) intentionally or
willfully engaging in any acts which are calculated to discredit the Company or
damage its reputation, all as determined by the Board in its sole discretion.
In the event a Grantee’s employment is terminated for cause, in addition to the
immediate termination of all Grants, the Grantee shall automatically forfeit
all shares underlying any exercised portion of an Option for which the Company
has not yet delivered the share certificates, upon refund by the Company of the
Exercise Price paid by the Grantee for such shares.

 

(f)                                    Exercise of
Options.  A Grantee may exercise an
Option that has become exercisable, in whole or in part, by delivering a notice
of exercise to the Company with payment of the Exercise Price.  The Grantee shall pay the Exercise Price for
an Option as specified by the Board (x) in cash, (y) with the approval of the
Board, by delivering shares of Company Stock owned by the Grantee (including
Company Stock acquired in connection with the exercise of an Option, subject to
such restrictions as the Board deems appropriate) and having a Fair Market
Value on the date of exercise equal to the Exercise Price or (z) by such other
method as the Board may approve, including, after the Initial Public Offering
(as defined in Section 9 below), payment through a broker in accordance
with procedures permitted by Regulation T of the Federal Reserve Board.  Unless otherwise determined by the Board,
shares of Company Stock used to exercise an Option shall have been held by the
Grantee for the requisite period of time to avoid adverse accounting
consequences to the Company with respect to the Option. The Grantee shall pay
the Exercise Price and the amount of any withholding tax due (pursuant to
Section 7) at the time of exercise.

 

6

 

6.                                       Restricted
Stock Grants.

 

The Board may issue or transfer shares of Company Stock to an Employee,
Non-Employee Director or Advisor under a Grant of Restricted Stock, upon such
terms as the Board deems appropriate. 
The following provisions are applicable to Restricted Stock:

 

(a)                                  General Requirements.  Shares of Company Stock issued or
transferred pursuant to Restricted Stock Grants may be issued or transferred
for consideration or, to the extent permitted by applicable law, for no
consideration as determined by the Board. 
The Board may establish conditions under which restrictions on shares of
Restricted Stock shall lapse over a period of time or according to such other
criteria as the Board deems appropriate. 
The period of time during which the Restricted Stock will remain subject
to restrictions will be designated in the Grant Instrument as the “Restriction
Period.”

 

(b)                                 Number of Shares.  The Board shall determine the number of
shares of Company Stock to be issued or transferred pursuant to a Restricted
Stock Grant and the restrictions applicable to such shares.

 

(c)                                  Requirement of
Employment.  Unless otherwise
determined by the Board, if the Grantee ceases to be employed by the Company
(as defined in Section 5(e)) during a period designated in the Grant
Instrument as the Restriction Period, or if other specified conditions are not
met, the Restricted Stock Grant shall terminate as to all shares covered by the
Grant as to which the restrictions have not lapsed, and those shares of Company
Stock must be immediately returned to the Company.

 

(d)                                 Restrictions on
Transfer and Legend on Stock Certificate. 
During the Restriction Period, a Grantee may not sell, assign, transfer,
pledge or otherwise dispose of the shares of Restricted Stock except to a
Successor Grantee under Section 8(a). 
Each certificate for a share of Restricted Stock shall contain a legend
giving appropriate notice of the restrictions in the Grant.  The Grantee shall be entitled to have the
legend removed from the stock certificate covering the shares subject to
restrictions when all restrictions on such shares have lapsed.  The Board may determine that the Company
will not issue certificates for shares of Restricted Stock until all
restrictions on such shares have lapsed, or that the Company will retain
possession of certificates for shares of Restricted Stock until all
restrictions on such shares have lapsed.

 

(e)                                  Right to Vote and
to Receive Dividends.  Unless the
Board determines otherwise, during the Restriction Period, the Grantee shall
have the right to vote shares of Restricted Stock and to receive any dividends
or other distributions paid on such shares, subject to any restrictions deemed
appropriate by the Board.

 

(f)                                    Lapse of
Restrictions.  All restrictions
imposed on Restricted Stock shall lapse upon the expiration of the applicable
Restriction Period and the satisfaction of all

 

7

 

conditions imposed by the Board. 
The Board may determine, as to any or all Restricted Stock Grants, that
the restrictions shall lapse without regard to any Restriction Period.

 

7.                                       Withholding
of Taxes.

 

All Grants under the Plan shall be subject to applicable federal, state
and local tax withholding requirements. 
The Company may require the Grantee or other person receiving shares
under the Plan to pay to the Company the amount of any such taxes that the
Company or any subsidiary is required to withhold with respect to the Grant, or
the Company and its subsidiaries may deduct from other wages paid by the
Company the amount of any withholding taxes due with respect to the Grant.  If the Board so permits, a Grantee may elect
to satisfy the Company’s tax withholding obligation with respect to an Option
or Restricted Stock by having shares withheld up to an amount that does not
exceed the minimum applicable withholding tax rate for federal, state and local
tax liabilities.  The election must be
in a form and manner prescribed by the Board and shall be subject to the prior
approval of the Board.

 

8.                                       Transferability
of Grants.

 

(a)                                  Nontransferability
of Grants.  Except as provided in
Section 8(b), only the Grantee may exercise rights under a Grant during
the Grantee’s lifetime.  Except as
provided in Section 8(b), a Grantee may not transfer those rights except
by will or by the laws of descent and distribution or, with respect to Grants
other than Incentive Stock Options, if permitted in any specific case by the
Board, pursuant to a domestic relations order. 
When a Grantee dies, the personal representative or other person
entitled to succeed to the rights of the Grantee (“Successor Grantee”)
may exercise such rights. A Successor Grantee must furnish proof satisfactory
to the Company of his or her right to receive the Grant under the Grantee’s
will or under the applicable laws of descent and distribution.

 

(b)                                 Transfer of
Nonqualified Stock Options. The Board may provide, in a Grant Instrument or
thereafter, that a Grantee may transfer Nonqualified Stock Options to immediate
family members or entities primarily controlled by a Grantee or the Grantee’s
immediate family members according to such terms as the Board may determine;
provided that the transferred Option shall continue to be subject to the same
terms and conditions as were applicable to the Option immediately before the
transfer.

 

9.                                       Stockholders’
Agreement.

 

Unless the Board determines otherwise with respect to a particular
Grant, as a condition to all Grants made pursuant to the Plan, the Grantee
shall be required to become a party to any stockholders’ agreement by and among
the Company and some or all of the other stockholders of the Company.

 

8

 

10.                                 Effects
of Merger, Consolidation or Asset Sale.

 

In the event of a merger or
consolidation of the Company with or into another corporation, or the sale of
all or substantially all of the assets of the Company, each outstanding Option
shall be assumed or an equivalent option or right substituted by the successor
corporation (or a parent or subsidiary of the successor corporation).  In the event that the successor corporation
refuses to assume or substitute for the Option, the Grantee shall fully vest in
and have the right to exercise the Option as to all of the shares covered
thereby, including shares as to which it would not otherwise be vested or
exercisable. If an Option becomes fully vested and exercisable in lieu of
assumption or substitution in the event of a merger, consolidation or sale of
assets, the Board shall notify the Grantee in writing or electronically at
least fifteen (15) days prior to the consummation of such merger, consolidation
or sale of assets that the Option shall be fully exercisable for the period
specified in such notice (but in any case not less than fifteen (15) days from
the date of such notice), and the Option shall terminate upon the expiration of
such period. For the purposes of this Section 10, the Option shall be
considered assumed if, following the merger, consolidation or sale of assets,
the option confers the right to purchase or receive, for each share of stock
subject to the Option immediately prior to the merger, consolidation or sale of
assets, the consideration (whether stock, cash, or other securities or
property) received in the merger, consolidation or sale of assets by holders of
Company Stock for each share held on the effective date of the transaction (and
if holders were offered a choice of consideration, the type of consideration
chosen by the holders of a majority of the outstanding shares); provided,
however, that if such consideration 
received in the merger, consolidation or sale of assets is not solely
common stock of the successor corporation or its parent, the Board may, with
the consent of the successor corporation, provide for the consideration to be
received upon the exercise of the Option, for each share of stock subject to
the Option, to be solely common stock of the successor corporation or its
parent equal in fair market value to the per share consideration received by
holders of Company Stock in the merger, consolidation or sale of assets.

 

11.                                 Requirements
for Issuance or Transfer of Shares.

 

No Company Stock shall be issued or transferred in connection with any
Grant hereunder unless and until all legal requirements applicable to the
issuance or transfer of such Company Stock have been complied with to the
satisfaction of the Board.  The Board
shall have the right to condition any Grant made to any Grantee hereunder on
such Grantee’s undertaking in writing to comply with such restrictions on his
or her subsequent disposition of such shares of Company Stock as the Board
shall deem necessary or advisable as a result of any applicable law, regulation
or official interpretation thereof, and certificates representing such shares
may be legended to reflect any such restrictions. Certificates representing shares
of Company Stock issued or transferred under the Plan will be subject to such
stop-transfer orders and other restrictions as may be required by applicable
laws, regulations and interpretations, including any requirement that a legend
be placed thereon.

 

9

 

12.                                 Effective
Date of the Plan.

 

The Plan shall become effective on April 25, 2001.

 

13.                                 Amendment
and Termination.

 

(a)                                  Amendment.  The Board may amend or terminate the Plan at
any time; provided, however, that the Board shall not amend the Plan without
stockholder approval to increase the number of shares available for issuance or
transfer under the Plan or change the class of individuals eligible to
participate in the Plan if and to the extent such stockholder approval is
necessary or desirable, in the judgment of the Board, to comply with applicable
law.

 

(b)                                 Termination of the
Plan.  The Plan shall terminate on
the day immediately preceding the tenth anniversary of its effective date,
unless the Plan is terminated earlier by the 
Board or the Plan is extended by the Board with the approval of the
stockholders.

 

(c)                                  Termination and
Amendment of Outstanding Grants.  A
termination or amendment of the Plan that occurs after a Grant is made shall
not materially impair the rights of a Grantee unless the Grantee consents or
unless the Board acts under Section 16(b).  The termination of the Plan shall not impair the power and
authority of the Board with respect to an outstanding Grant. Whether or not the
Plan has terminated, an outstanding Grant may be terminated or amended under
Section 16(b) or may be amended by agreement of the Company and the
Grantee consistent with the Plan.

 

(d)                                 Governing Document.  The Plan shall be the controlling
document.  No other statements,
representations, explanatory materials or examples, oral or written, may amend
the Plan in any manner.  The Plan shall
be binding upon and enforceable against the Company and its successors and
assigns.

 

14.                                 Rights
of Participants.

 

Nothing in the Plan shall entitle any Employee, Advisor, Non-Employee
Director or other person to any claim or right to be granted a Grant under the
Plan.  Neither the Plan nor any action
taken hereunder shall be construed as giving any individual any rights to be
retained by or in the employ or service of the Company or any of its
subsidiaries or any other employment or service rights.

 

15.                                 No
Fractional Shares.

 

No fractional shares of Company Stock shall be issued or delivered
pursuant to the Plan or any Grant.  The
Board shall determine whether cash, other awards or other property shall be
issued or paid in lieu of such fractional shares or whether such fractional
shares or any rights thereto shall be forfeited or otherwise eliminated.

 

10

 

16.                                 Miscellaneous.

 

(a)                                  Grants in
Connection with Transactions and Otherwise.  Nothing contained in the Plan shall be construed to (i) limit the
right of the Board to make Grants under the Plan in connection with the
acquisition, by purchase, lease, merger, consolidation or otherwise, of the
business or assets of any corporation, firm or association, including Grants to
employees thereof who become Employees of the Company, or for other proper
corporate purposes, or (ii) limit the right of the Company to grant stock
options or make other awards outside of the Plan.  Without limiting the foregoing, the Board may make a Grant to an
employee of another corporation who becomes an Employee by reason of a merger,
consolidation, acquisition of stock or property, reorganization or liquidation
involving the Company or any of its subsidiaries in substitution for a stock
option or restricted stock grant made by such corporation.  The terms and conditions of the substitute
grants may vary from the terms and conditions required by the Plan and from
those of the substituted stock incentives. 
The Board shall prescribe the provisions of the substitute grants.

 

(b)                                 Compliance with Law.  The Plan, the exercise of Options and the
obligations of the Company to issue or transfer shares of Company Stock under
Grants shall be subject to all applicable laws and to approvals by any
governmental or regulatory agency as may be required. The Board may revoke any
Grant if it is contrary to law or modify a Grant to bring it into compliance
with any valid and mandatory government regulation.  The Board may also adopt rules regarding the withholding of taxes
on payments to Grantees.

 

(c)                                  Headings.  Section headings are for reference
only.  In the event of a conflict between
a title and the content of a Section, the content of the Section shall
control.

 

(d)                                 Funding.  The Plan shall be unfunded.  The Company shall not be required to
establish any special or separate fund or to make any other segregation of
assets to assure the payment of any Grants under the Plan.  In no event shall interest be paid or
accrued on any Grant, including unpaid installments of Grants.

 

(e)                                  Governing Law.  The validity, construction, interpretation
and effect of the Plan and Grant Instruments issued under the Plan shall
exclusively be governed by and determined in accordance with the laws of the
State of Delaware, without regard to principles of conflicts of law.

 

11

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