Document:

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                                                                     EXHIBIT 4.3

                          CITIZENS FIRST BANCORP, INC.
                    MANAGEMENT RESTRICTED STOCK PURCHASE PLAN
                (As Amended and Restated Effective June 1, 2002)

1. Purpose.

         (a)      The purpose of the Citizens First Bancorp, Inc. Amended and
                  Restated Management Restricted Stock Purchase Plan (the "Plan"
                  or this "Plan") is to further align the interests of
                  management personnel with the interests of the shareholders of
                  Citizens First Bancorp, Inc. (together with any entity owned
                  or controlled thereby, the "Corporation"), and to contribute
                  to the growth and profits of the Corporation. In doing so, the
                  Corporation also will be better able to attract and retain
                  highly qualified management personnel.

         (b)      The Plan will allow a select group of management to acquire
                  the Corporation's Common Stock through deferral of incentive
                  bonuses payable under the Corporation's Employee Incentive
                  Bonus Program ("Incentive Bonuses"), and the Corporation will
                  match these deferrals with additional shares of the
                  Corporation's Common Stock in the manner set forth in, and
                  subject to the terms and conditions of, this Plan.

2. Effective Date. This Plan amends and restates, and replaces and supersedes in
its entirety, the Citizens First Bancorp, Inc. Management Restricted Stock
Purchase Plan dated June 1, 2002. This amendment and restatement, is effective
June 1, 2002 (the "Effective Date").

3. Management Compensation Committee.

         (a)      The Committee appointed by the Corporation's Board of
                  Directors to administer the Corporation's 2001 Stock-Based
                  Incentive Plan (the "Committee") shall administer this Plan.

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         (b)      Decisions and determinations as to the number and identity of
                  participants, and as to any other matters relating to the
                  Plan, including matters related to the Administration of
                  Excess Accounts described in Section 5(e), shall rest with the
                  Committee. The Corporation's management will make
                  recommendations to the Committee, but the Committee will not
                  be bound by such recommendations and will make its own final
                  determinations.

         (c)      Action may be taken by the Committee at a meeting, or by
                  written consent, which action is approved by a majority of the
                  Committee's Members.

         (d)      All determinations and decisions of the Committee shall be
                  final, binding and conclusive upon all parties.

4. Eligibility for Management Incentive Awards.

         (a)      Eligibility. Prior to the beginning of the each "Plan Year"
                  (as defined below), the Committee will designate each key
                  executive who is eligible to participate in this Plan for such
                  Plan Year. As used in this Agreement, the first "Plan Year"
                  will mean the portion of the year beginning with the Effective
                  Date and continuing through and including December 31, 2002.
                  Thereafter, each "Plan Year" will correspond to each fiscal
                  year of the Corporation.

         (b)      Participation. An eligible key executive so designated by the
                  Committee will have the right to elect irrevocably to
                  participate in the Plan (each, a "Participant") for the
                  upcoming Plan Year by giving written notice to that effect to
                  the Committee on the form(s) provided by the Committee. The
                  Participant will give such notice before the beginning of the
                  Plan Year for which the Incentive Bonus will be earned or for
                  the first Plan Year within 30 days of the key executive
                  becoming eligible for participation in the Plan.

5. Awards of Restricted Stock Units.

         (a)      Election. Subject to the terms and conditions of this Plan,
                  including the next sentence, for any Plan Year, a Participant
                  will have the right to elect irrevocably

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                  to defer under this Plan all or any portion of the
                  Participant's Incentive Bonus earned under the Corporation's
                  Employee Incentive Bonus Plan for such Plan Year (the amount
                  so deferred, "Deferred Incentive Bonus"). For the first Plan
                  Year, the Incentive Bonus that will be eligible to be deferred
                  by any Participant under this Plan will be only the portion of
                  the Participant's total Incentive Bonus earned under the
                  Corporation's Employee Incentive Bonus Plan during the first
                  Plan Year and only that portion of such Incentive Bonus that
                  was earned for the period of time after the Participant makes
                  his or her election with regard to the first Plan Year.

         (b)      Participant RSU Accounts. The Corporation shall establish a
                  restricted stock unit bookkeeping account ("RSU Account") for
                  each Participant. Except as limited by Section 5(e), for each
                  applicable Plan Year, each Participant's RSU Account shall be
                  credited with a number of restricted stock units ("RSUs")
                  equal to the dollar amount of the Deferred Incentive Bonus for
                  the applicable Plan Year divided by the Fair Market Value (as
                  defined in this Section 5(b)) of the Corporation's Common
                  Stock on the last trading day of the Plan Year for which the
                  Deferred Incentive Bonus was earned. As used in this Plan,
                  "Fair Market Value" means the closing price of the Common
                  Stock of the Corporation on the last trading day of the
                  applicable Plan Year on which such Common Stock was traded on
                  a public exchange or the Nasdaq National Market. A
                  Participant's RSU Account shall be adjusted to reflect stock
                  splits, stock dividends, mergers, recapitalizations or other
                  events, as determined by the Committee, in its sole
                  discretion, to be equitable from time to time; provided that,
                  as contemplated by Section 5(e), in no event will the number
                  of RSUs exceed 25,000 prior to the time the Corporation's
                  shareholders have approved this Plan and, in the event that
                  any such adjustment would otherwise be equitable prior to such
                  approval, the Committee will limit the total aggregate number
                  of RSUs to 25,000 in all Participant Accounts and provide for
                  other appropriate equitable adjustments such as establishing
                  or adding to Excess Accounts (as contemplated by Section
                  5(e)).

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         (c)      Corporate Match. Subject to Section 5(e), for every four full
                  RSUs credited to a Participant's RSU Account pursuant to
                  Section 5(b), the Corporation shall credit the Participant's
                  RSU Account with one additional RSU.

         (d)      Dividend Equivalents. The Committee may determine that any RSU
                  will carry with it until paid a dividend equivalent which will
                  entitle the holder to receive payments from the Corporation
                  equal to the cash dividends paid per share of Common Stock of
                  the Corporation during the periods from the time of credit to
                  the time the shares are delivered to the Participant. Subject
                  to Section 5(e), payment of dividend equivalents may be made
                  in cash or stock and at such time or times as determined by
                  the Committee. Dividend equivalents shall be subject to the
                  same forfeiture and other provisions as the RSUs.

         (e)      Maximum RSUs Credited Under the Plan. Notwithstanding anything
                  to the contrary in this Plan or any other document, prior to
                  the approval of this Plan by the Corporation's shareholders,
                  the total number of RSUs that the Corporation may credit to
                  all of the Participant RSU Accounts under the Plan (including
                  RSUs credited under Section 5(c) and Section 5(d)) shall not
                  exceed 25,000 RSUs. If, in any Plan Year prior to the approval
                  of this Plan by the Corporation, the sum of (i) the total
                  number of RSUs previously credited to all of the Participant
                  RSU Accounts under the Plan in the preceding Plan Year(s), and
                  (ii) the total number of RSUs intended to be credited to all
                  of the Participant RSU Accounts for the current Plan Year
                  without regard to the limit in the first sentence of this
                  Section 5(e) would exceed 25,000 RSUs, then, for that Plan
                  Year, the Corporation shall credit to all of the Participant
                  RSU Accounts a total number of RSUs not to exceed 25,000 RSUs
                  less the RSUs previously credited to all of the Participant
                  RSU Accounts (such difference, the "Remaining RSUs"). The
                  Remaining RSUs will be allocated among the Participants' RSU
                  Accounts as follows: Each Participant's RSU Account shall be
                  credited with a number of RSUs equal to the product of the
                  number of the Remaining RSUs multiplied by a fraction, the
                  numerator of which is the number of RSUs that would have been
                  credited to the Participant's RSU Account ignoring the 25,000
                  aggregate RSU limit, and the denominator of which is the total
                  number of RSUs that would have been credited

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                  to all of the Participant RSU Accounts ignoring the 25,000
                  aggregate RSU limit, in each case with such product rounded
                  down to the nearest whole number. If, as a result of the
                  foregoing 25,000 aggregate RSU limit, a Participant does not
                  receive all of the RSUs to which he or she would otherwise be
                  entitled, then the Corporation will create an account for such
                  Participant (each, an "Excess Account") and will credit such
                  Excess Account with an amount in cash equal to the portion of
                  such Participant's Deferred Incentive Bonus attributable to
                  RSUs that could not be credited as a result of the foregoing
                  25,000 aggregate RSU limit for the applicable Plan Year. In
                  the subsequent Plan Year in which the Corporation's
                  shareholders approve this Plan, the Participant's RSU Account
                  will then be credited with RSUs in the manner set forth in
                  Sections 5(b) and 5(c) based on the Deferred Incentive Bonus
                  amounts credited to the Participant's Excess Account.

         (f)      Issuance of Certificates. Except as otherwise provided herein,
                  each RSU shall become distributable as soon as practical
                  following the last day of a Participant's employment with
                  Corporation. The Corporation shall issue and deliver to such
                  Participant, or shall cause to be issued and delivered to such
                  Participant, as soon as practicable, one share of its Common
                  Stock for every distributable RSU credited to such
                  Participant's RSU Account; provided that the Corporation shall
                  have the right to require a Participant to remit to the
                  Corporation an amount sufficient to satisfy any withholding
                  tax requirement or to deduct from all distributions amounts
                  sufficient to satisfy withholding requirements.

         (g)      Acceleration. The Committee shall have the authority to alter
                  the timing or form of distribution of RSUs in one or more of
                  the following circumstances:

                  (i)      In the event that the Participant establishes, to the
                           satisfaction of the Committee, severe financial
                           hardship, then the Committee may, in its sole
                           discretion, provide that all or a portion of the RSUs
                           credited to a Participant's RSU Account shall
                           immediately be distributed in the form of shares of
                           the Corporation's Common Stock. For purposes of this
                           subparagraph, "severe financial hardship" shall be
                           determined by the Committee, in its sole discretion,
                           in accordance with all applicable laws.

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                           The Committee's decision with respect to severe
                           financial hardship and distributions shall be final,
                           conclusive, and not subject to appeal.

                  (ii)     In the event of a Change in Control, as defined in
                           the Corporation's 2001 Stock-Based Incentive Plan.

         (h)      Rights as a Shareholder. A Participant shall have no rights of
                  a shareholder of the Corporation with respect to the RSUs in
                  any Participant's RSU Account. The Corporation will have the
                  right to, but will not be required to, prepare for its
                  obligations hereunder by issuing Common Stock in the name of
                  the trustee of any grantor trust maintained or established by
                  the Corporation for this purpose (any such trust(s) together,
                  the "Trust"). Any shares of the Corporation's Common Stock
                  deposited in the Trust will be subject to the Corporation's
                  general creditors, including, without limitation, if the
                  Corporation becomes insolvent or has a receiver or a trustee
                  appointed for its assets or becomes involved in a bankruptcy
                  or similar proceeding. Any such Trust and any assets held in
                  such Trust will conform to the terms of the model trust, as
                  described in Rev. Proc. 92-64. In the event the Corporation
                  elects to transfer shares of its Common Stock to the Trust,
                  the trustee shall have all the rights of a shareholder,
                  including the right to vote the shares and to receive
                  dividends and other distributions paid or made with respect
                  thereto.

         (i)      Time and Conditions.

                  (i)      Stock certificates attributable to RSUs which have
                           not been issued and delivered prior to a
                           Participant's death, together with all amounts in the
                           Participant's Excess Account, shall be delivered or
                           distributed to the Participant's beneficiary or
                           beneficiaries. Each Participant may designate on the
                           prescribed form filed with the Committee one or more
                           beneficiaries. Participants may change such
                           designation at any time by filing the prescribed form
                           with the Committee. If a beneficiary has not been
                           designated or no designated beneficiary survives the
                           Participant, any RSUs which become distributable
                           after the Participant's death, together with any
                           amounts in the Participant's Excess Account, if any,
                           will be delivered to the Participant's surviving
                           spouse, as beneficiary if such

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                           spouse is still living or, if not living, in equal
                           shares to the then living children of the
                           Participant, as beneficiaries, or, if none, to the
                           Participant's estate, as beneficiary. The Committee,
                           in its sole discretion, shall determine the form and
                           time of any distribution(s) to the Participant's
                           beneficiary or beneficiaries.

                  (ii)     Until stock certificates are delivered or
                           distributed, RSUs credited to a Participant's RSU
                           Account attributable to the Corporate Match shall be
                           canceled and forfeited under the following
                           circumstances:

                           (A)      The Participant's employment is terminated
                                    for "Just Cause" (as defined in the
                                    Corporation's 2001 Stock-Based Incentive
                                    Plan), or the Participant terminates
                                    employment with the Corporation at a time
                                    when Just Cause for dismissal exists; or

                           (B)      The Participant, before or after the
                                    termination of Participant's employment,
                                    breaches any of the covenants contained in
                                    an award agreement executed pursuant to
                                    Corporation's 2001 Stock-Based Incentive
                                    Plan; or

                           (C)      The Participant is indebted to the
                                    Corporation at the time when the Participant
                                    becomes entitled to a distribution of an
                                    award under the Plan following termination
                                    of employment with the Corporation. In such
                                    case, unless the Committee directs
                                    otherwise, any distribution shall be offset
                                    in the amount of the indebtedness, by
                                    canceling the number of RSUs (or stock
                                    certificates) whose Fair Market Value equals
                                    the amount of the indebtedness, and the
                                    Participant's indebtedness to the
                                    Corporation shall be extinguished to the
                                    extent of such offset.

6. Administration, Amendment and Termination of the Plan.

         (a)      The Committee shall have the power and authority to interpret
                  and administer the Plan. The Board of Directors may, at any
                  time, alter, amend or terminate the Plan; provided, however,
                  that no alteration, amendment or termination shall be

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                  valid or effective if such alteration, amendment or
                  termination would adversely affect the value of any
                  Participant's RSU Account or Excess Account, if any, under the
                  Plan, whether or not the Participant's employment had
                  terminated at the time the alteration, amendment or
                  termination was approved.

         (b)      The Committee is authorized in its sole discretion, to use the
                  Trust for the purpose of administering and accounting for the
                  liabilities incurred under the Plan; provided, however, that
                  no Participant shall be considered to have a beneficial
                  ownership interest (or any other sort of interest) in any
                  specific asset of the Corporation or any of its subsidiaries
                  or affiliates as a result of the creation of the Trust or the
                  transfer of funds or other property to the Trust.

         (c)      It is the Corporation's intention that this Plan shall be
                  unfunded for tax purposes and for purposes of Title I of the
                  Employee Retirement Income Security Act of 1974, as amended.
                  All amounts deferred under this Plan shall continue for all
                  purposes to be part of the general funds of the Company, and
                  the Plan shall constitute a mere promise by the Company to
                  make benefit payments in the future. To the extent that any
                  Participant acquires the right to receive benefits from the
                  Corporation under this Plan, such right shall be no greater
                  than the right of any other unsecured general creditor of the
                  Company.

7. Non-Assignability. Except as otherwise determined by the Committee, a
Participant will not have the right to assign RSUs in the Participant's RSU
Account or amounts in the Participant's Excess Account. For purposes of the
preceding sentence, an assignment will include any anticipation, alienation,
assignment, transfer, sale or other disposition of any kind or nature, either by
voluntary or involuntary assignment or by operation of law, including, but
without limitation, garnishment, attachment or other creditor's process. Any
purported assignment in violation hereof shall be void.

8. Corporation. As used in this Plan, the term "Corporation" means Citizens
First Bancorp, Inc. and, where the context so requires, any entity owned or
controlled by the Corporation.

                              Page 18 of 20 Pages<PAGE>
                                                                     EXHIBIT 4.2

                            METROCORP BANCSHARES, INC.

                            1998 STOCK INCENTIVE PLAN

                                NOVEMBER 25, 1998

                                  (AS AMENDED)

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                                TABLE OF CONTENTS
<Table>
<Caption>
                                                                                                               PAGE

<S>                                                                                                             <C>
Article I.    General............................................................................................1
         Section 1.1.      Purpose...............................................................................1
         Section 1.2.      Administration........................................................................1
         Section 1.3.      Eligibility For Participation.........................................................1
         Section 1.4.      Types Of Awards Under Plan............................................................2
         Section 1.5.      Aggregate Limitation On Awards........................................................2
         Section 1.6.      Effective Date And Term Of Plan.......................................................3

Article II.   Stock Options......................................................................................3
         Section 2.1.      Award Of Stock Options................................................................3
         Section 2.2.      Stock Option Agreements...............................................................3
         Section 2.3.      Stock Option Price....................................................................3
         Section 2.4.      Term And Exercise.....................................................................3
         Section 2.5.      Manner Of Payment.....................................................................3
         Section 2.6.      Restrictions On Certain Shares........................................................3
         Section 2.7.      Death, Retirement And Termination Of Employment Of Optionee...........................4

Article III.  Incentive Stock Options............................................................................4
         Section 3.1.      Award Of Incentive Stock Options......................................................4
         Section 3.2.      Incentive Stock Option Agreements.....................................................4
         Section 3.3.      Incentive Stock Option Price..........................................................5
         Section 3.4.      Term And Exercise.....................................................................5
         Section 3.5.      Maximum Amount Of Incentive Stock Option Grant........................................5
         Section 3.6.      Death Of Optionee.....................................................................5
         Section 3.7.      Retirement Or Disability..............................................................5
         Section 3.8.      Termination Of Employment For Other Than Cause........................................5
         Section 3.9.      Termination For Cause Or Other Reasons................................................6
         Section 3.10.     Applicability Of Stock Options Sections...............................................6

Article IV.   Performance Share Awards...........................................................................6
         Section 4.1.      Awards Granted By Committee...........................................................6
         Section 4.2.      Amount Of Award.......................................................................6
         Section 4.3.      Communication Of Award................................................................6
         Section 4.4.      Amount Of Award Payable...............................................................6
         Section 4.5.      Adjustments...........................................................................7
         Section 4.6.      Payments Of Awards....................................................................7
         Section 4.7.      Termination Of Employment.............................................................7
         Section 4.8.      Transfer Restriction..................................................................7

Article V.    Miscellaneous......................................................................................7
         Section 5.1.      General Restriction...................................................................7
         Section 5.2.      Non-Assignability.....................................................................7
         Section 5.3.      Withholding Taxes.....................................................................7
         Section 5.4.      Right To Terminate Employment.........................................................8
         Section 5.5.      Non-Uniform Determinations............................................................8
         Section 5.6.      Rights As A Stockholder...............................................................8
         Section 5.7.      Definitions...........................................................................8
         Section 5.8.      Leaves Of Absence.....................................................................8
         Section 5.9.      Newly Eligible Employees..............................................................8
</Table>

                                      -i-
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                                TABLE OF CONTENTS
                                   (continued)
<Table>
<Caption>
                                                                                                               PAGE

<S>                                                                                                             <C>
         Section 5.10.     Adjustments...........................................................................9
         Section 5.11.     Changes In The Company's Capital Structure............................................9
         Section 5.12.     Amendment Of The Plan................................................................10
         Section 5.13.     Rights Under The Plan................................................................10
         Section 5.14.     Applicable Law.......................................................................10
         Section 5.15.     Intention To Comply With Applicable Securities Laws..................................11
</Table>

                                      -ii-

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                            METROCORP BANCSHARES, INC.

                            1998 STOCK INCENTIVE PLAN

                               ARTICLE I. GENERAL

SECTION 1.1. PURPOSE. The purposes of this Stock Incentive Plan (the "Plan") are
to: (1) associate the interests of the officers and other key employees of
METROCORP BANCSHARES, INC. and its subsidiaries and affiliates (collectively
referred to as the "Company") closely with the stockholders to generate an
increased incentive to contribute to the Company's future success and
prosperity, thus enhancing the value of the Company for the benefit of its
stockholders; (2) provide officers and other key employees with a proprietary
ownership interest in the Company commensurate with Company performance, as
reflected in increased stockholder value; (3) maintain competitive compensation
levels thereby attracting and retaining highly competent and talented officers
and employees; and (4) provide an incentive to the officers and other key
employees for continuous employment with the Company. Certain capitalized terms
are defined in Section 5.7.

SECTION 1.2. ADMINISTRATION.

      (a)    The Plan shall be administered by the Compensation Committee of the
Board of Directors of the Company (the "Committee"), as constituted from time to
time, each member of which shall be a Non-Employee Director, as such term is
defined in Rule 16b-3 issued by the Securities and Exchange Commission.

      (b)    The Committee shall have the authority, in its sole discretion and
from time to time to:

             (i)    designate the officers and key employees of the Company
eligible to participate in the Plan;

             (ii)   grant Awards provided in the Plan in such form and amount as
the Committee shall determine;

             (iii)  impose such limitations, restrictions and conditions, not
inconsistent with this Plan, upon any such Award as the Committee shall deem
appropriate;

             (iv)   prescribe the form and terms of instruments evidencing such
Awards; and

             (v)    interpret the Plan and any agreement, instrument or other
document executed in connection with the Plan; adopt, amend and rescind rules
and regulations relating to the Plan; and make all other determinations and take
all other action necessary or advisable for the implementation and
administration of the Plan.

      (c)    Decisions and determinations of the Committee on all matters
relating to the Plan shall be in its sole discretion and shall be final,
conclusive and binding upon all persons, including the Company, any participant,
any stockholder of the Company and any employee. A majority of the members of
the Committee may determine its actions and fix the time and place of its
meetings. No member of the Committee shall be liable for any action taken or
decision made relating to the Plan or any Award thereunder.

SECTION 1.3. ELIGIBILITY FOR PARTICIPATION. Participants in the Plan shall be
selected by the Committee from the officers, employees and consultants of the
Company or its Subsidiaries who, in the
<PAGE>
opinion of the Committee, have the capacity to contribute to the successful
performance of the Company or a Subsidiary. For the purposes of this Plan, the
term "Subsidiary" means any corporation or other entity of which at least 50% of
the voting securities are owned by the Company directly or through one or more
other corporations, each of which is also a Subsidiary. With respect to
non-corporate entities, Subsidiary shall mean an entity managed or controlled by
the Company or any Subsidiary and with respect to which the Company or any
Subsidiary is allocated more than half of the profits and losses thereof.

SECTION 1.4. TYPES OF AWARDS UNDER PLAN. Awards under the Plan may be in the
form of any one or more of the following:

             (i)    Stock Options, as described in Article II;

             (ii)   Incentive Stock Options, as described in Article III; and/or

             (iii)  Performance Shares, as described in Article IV.

Awards under the Plan shall be evidenced by an Award Agreement between the
Company and the recipient of the Award, in form and substance satisfactory to
the Committee, and not inconsistent with this Plan. Award Agreements may provide
such vesting schedules for Stock Options and Incentive Stock Options, and such
other terms, conditions and provisions as are not inconsistent with the terms of
this Plan. Subject to the express provisions of the Plan, and within the
limitations of the Plan, the Committee may modify, extend or renew outstanding
Award Agreements, or accept the surrender of outstanding Awards and authorize
the granting of new Awards in substitution therefor. However, except as provided
in this Plan, no modification of an Award shall impair the rights of the holder
thereof without his or her consent.

SECTION 1.5. AGGREGATE LIMITATION ON AWARDS.

      (a)    Shares of stock which may be issued under the Plan shall be
authorized and unissued or treasury shares of Common Stock of the Company
("Common Stock"). Subject to adjustment by the operation of Section 5.10 hereof,
the maximum number of shares of Common Stock which may be issued pursuant to
Awards issued under the Plan shall be 700,000.

      (b)    For purposes of calculating the maximum number of shares of Common
Stock which may be issued under the Plan at any time:

             (i)    all the shares issued (including the shares, if any,
withheld for tax withholding requirements) under the Plan shall be counted when
issued upon exercise of a Stock Option or Incentive Stock Option; and

             (ii)   only the net shares issued as Performance Shares shall be
counted (shares reacquired by the Company because of failure to achieve a
performance target or failure to become fully vested for any other reason shall
again be available for issuance under the Plan).

      (c)    Shares tendered by a participant as payment for shares issued upon
exercise of a Stock Option or Incentive Stock Option shall be available for
issuance under the Plan. Any shares of Common Stock subject to a Stock Option or
Incentive Stock Option which for any reason is terminated unexercised or expires
shall again be available for issuance under the Plan.

                                       -2-
<PAGE>
SECTION 1.6. EFFECTIVE DATE AND TERM OF PLAN.

      (a)    The Plan shall become effective only after (i) it has been approved
by the stockholders of the Company at the 1998 Annual Meeting of Stockholders
and (ii) the Company shall have completed an initial public offering.

      (b)    No Awards shall be made under the Plan after the tenth anniversary
of the effective date of this Plan; provided, however, that the Plan and all
Awards made under the Plan prior to such date shall remain in effect until such
Awards have been satisfied or terminated in accordance with the Plan and the
terms of such Awards.

                           ARTICLE II. STOCK OPTIONS

SECTION 2.1. AWARD OF STOCK OPTIONS. The Committee may from time to time, and
subject to the provisions of the Plan and such other terms and conditions as the
Committee may prescribe, grant to any participant in the Plan one or more
options to purchase for cash or shares the number of shares of Common Stock
("Stock Options") allotted by the Committee. The date a Stock Option is granted
shall mean the date selected by the Committee as of which the Committee allots a
specific number of shares to a participant pursuant to the Plan.

SECTION 2.2. STOCK OPTION AGREEMENTS. The grant of a Stock Option shall be
evidenced by a written Award Agreement, executed by the Company and the holder
of a Stock Option (the "Optionee"), stating the number of shares of Common Stock
subject to the Stock Option evidenced thereby, and in such form as the Committee
may from time to time determine.

SECTION 2.3. STOCK OPTION PRICE. The option price per share of Common Stock
deliverable upon the exercise of a Stock Option shall be 100% of the fair market
value of a share of Common Stock on the date the Stock Option is granted.

SECTION 2.4. TERM AND EXERCISE. A Stock Option shall be exercisable at such time
and under such conditions as set forth in the Award Agreement, but in no event
shall a Stock Option be exercisable later than the tenth anniversary of the date
of grant (the "Option Term"). No Stock Option shall be exercisable after the
expiration of its Option Term.

SECTION 2.5. MANNER OF PAYMENT. Each Award Agreement providing for Stock Options
shall set forth the procedure governing the exercise of the Stock Option granted
thereunder, and shall provide that, upon such exercise in respect of any shares
of Common Stock subject thereto, the Optionee shall pay to the Company, in full,
the option price for such shares. Such payment may be made by such method or
methods and in such form or forms as the Committee shall determine, including,
without limitation, cash, shares of Common Stock, other Awards or other
property, cashless exercise with simultaneous sale, or any combination thereof,
provided that the combined value, as determined by the Committee, of all cash
and cash equivalents and the fair market value of any such shares of Common
Stock, or other property so tendered to the Company, as of the date of such
tender, is at lease equal to the full amount required to be paid pursuant to the
Plan or the applicable Award Agreement to the Company.

SECTION 2.6. RESTRICTIONS ON CERTAIN SHARES. As soon as practicable after
receipt of payment, the Company shall deliver to the Optionee a certificate or
certificates for such shares of Common Stock; PROVIDED, HOWEVER, that the
Company shall not be required to issue or deliver any certificates for shares of
Common Stock purchased upon the exercise of a Stock Option prior to the
completion of any registration or other qualification of such shares under any
state or federal law or rulings or regulations of any government regulatory
body, which the Committee shall determine to be

                                       -3-
<PAGE>
necessary or advisable. The Optionee shall become a stockholder of the Company
with respect to Common Stock represented by share certificates so issued and as
such shall be fully entitled to receive dividends, to vote and to exercise all
other rights of a stockholder.

SECTION 2.7. DEATH, RETIREMENT AND TERMINATION OF EMPLOYMENT OF OPTIONEE. Unless
otherwise provided in an Award Agreement or otherwise agreed to by the
Committee:

      (a)    Upon the death of the Optionee, any rights to the extent
exercisable on the date of death may be exercised by the Optionee's estate, or
by a person who acquires the right to exercise such Stock Option by bequest or
inheritance or by reason of the death of the Optionee, provided that such
exercise occurs within both (i) the remaining Option Term of the Stock Option
and (ii) one year after the Optionee's death. The provisions of this Section
shall apply notwithstanding the fact that the Optionee's employment may have
terminated prior to death, but only to the extent of any rights exercisable on
the date of death.

      (b)    Upon termination of the Optionee's employment by reason of
retirement or permanent disability (as each is determined by the Committee), the
Optionee may exercise any Stock Options, provided such option exercise occurs
within both (i) the remaining Option Term of the Stock Option and (ii) six
months (in the case of permanent disability) or three months (in the case of
retirement) after the termination of the Optionee's employment.

      (c)    Upon termination of the Optionee's employment by reason other than
death, disability or cause (as each is determined by the Committee), the
Optionee may exercise any Stock Options, provided such option exercise occurs
within both (i) the remaining Option Term of the Stock Option and (ii) 30 days
of the date of termination.

      (d)    Upon termination of the Optionee's employment for cause (as
determined by the Committee), or for any reason other than as provided in
Subsection (a), (b) and (c) of this Section 2.7, all Stock Options shall
terminate immediately upon the termination of the Optionee's employment.

                      ARTICLE III. INCENTIVE STOCK OPTIONS

SECTION 3.1. AWARD OF INCENTIVE STOCK OPTIONS. The Committee may, from time to
time and subject to the provisions of the Plan and such other terms and
conditions as the Committee may prescribe, grant to any participant in the Plan
who is an employee of the Company one or more "incentive stock options"
(intended to qualify as such under the provisions of Section 422 of the Internal
Revenue Code of 1986, as amended ("Incentive Stock Options")) to purchase for
cash or shares the number of shares of Common Stock allotted by the Committee.
Each provision of the Plan and each Incentive Stock Option granted thereunder
shall be construed so that each such option shall qualify as an Incentive Stock
Option, and any provision thereof that cannot be so construed shall be
disregarded, unless the participant agrees otherwise. The date an Incentive
Stock Option is granted shall mean the date selected by the Committee as of
which the Committee allots a specific number of shares to a participant pursuant
to the Plan.

SECTION 3.2. INCENTIVE STOCK OPTION AGREEMENTS. The grant of an Incentive Stock
Option shall be evidenced by a written Award Agreement, executed by the Company
and the holder of an Incentive Stock Option (the "Optionee"), stating the number
of shares of Common Stock subject to the Incentive Stock Option evidenced
thereby, and in such form as the Committee may from time to time determine.

                                       -4-
<PAGE>
SECTION 3.3. INCENTIVE STOCK OPTION PRICE. The option price per share of Common
Stock deliverable upon the exercise of an Incentive Stock Option shall be 100%
of the fair market value of a share of Common Stock on the date the Incentive
Stock Option is granted. Notwithstanding the foregoing, Incentive Stock Options
shall not be granted to any owner of 10% or more of the total voting power of
the Company unless the option price is at least 110% of the fair market value of
a share of Common Stock on the date the Incentive Stock Option is granted.

SECTION 3.4. TERM AND EXERCISE. Each Incentive Stock Option shall be exercisable
at such time and under such conditions as set forth in the Award Agreement, but
in no event shall an Incentive Stock Option be exercisable later than the tenth
anniversary of the date of grant (the "Option Term"). Notwithstanding the
foregoing, if the Optionee is the owner of 10% or more of the total voting power
of the Company, such Incentive Stock Option shall not be exercisable after the
expiration of five years from the date of award. No Incentive Stock Option shall
be exercisable after the expiration of its Option Term.

SECTION 3.5. MAXIMUM AMOUNT OF INCENTIVE STOCK OPTION GRANT. The aggregate fair
market value (determined on the date the Incentive Stock Option is granted) of
Common Stock with respect to which Incentive Stock Options first become
exercisable by an Optionee during any calendar year (under all plans of the
Optionee's employer corporations and their parent and subsidiary corporations)
shall not exceed $100,000. If the immediate exercisability of Incentive Stock
Options awarded pursuant to this Article III would cause this $100,000
limitation to be exceeded for an Optionee, such excess Incentive Stock Options
held by such Optionee shall be treated as non-qualified Stock Options to the
extent necessary to comply with the $100,000 limitation by taking all such
Options into account in the order in which they were granted.

SECTION 3.6. DEATH OF OPTIONEE.

      (a)    Upon the death of the Optionee, any Incentive Stock Option
exercisable on the date of death may be exercised by the Optionee's estate or by
a person who acquires the right to exercise such Incentive Stock Option by
bequest or inheritance or by reason of the death of the Optionee, provided that
such exercise occurs within both the remaining Option Term of the Incentive
Stock Option and one year after the Optionee's death.

      (b)    The provisions of this Section shall apply notwithstanding the fact
that the Optionee's employment may have terminated prior to death, but only to
the extent of any Incentive Stock Options exercisable on the date of death.

SECTION 3.7. RETIREMENT OR DISABILITY. Unless otherwise provided in an Award
Agreement or otherwise agreed to by the Committee, upon the termination of the
Optionee's employment by reason of permanent disability or retirement (as each
is determined by the Committee), the Optionee may exercise any Incentive Stock
Options, provided such option exercise occurs within both (i) the remaining
Option Term of the Incentive Stock Option and (ii) one year (in the case of
permanent disability, as defined in the Internal Revenue Code of 1986) or three
months (in the case of retirement) after the date of termination.
Notwithstanding the terms of an Award Agreement, the tax treatment available
pursuant to Section 422 of the Internal Revenue Code of 1986 upon the exercise
of an Incentive Stock Option shall not be available to an Optionee who exercises
any Incentive Stock Options more than (i) one year after the date of termination
of employment due to permanent disability or (ii) three months after the date of
termination of employment due to retirement.

SECTION 3.8. TERMINATION OF EMPLOYMENT FOR OTHER THAN CAUSE. Upon termination of
the Optionee's employment by reason other than as provided in Sections 3.6 or
3.7, or by reason other than cause (as determined by the Committee), the
Optionee may exercise any Incentive Stock Options,

                                       -5-
<PAGE>
provided such option exercise occurs within both (i) the remaining Option Term
of the Incentive Stock Option and (ii) 30 days of the date of termination.

SECTION 3.9. TERMINATION FOR CAUSE OR OTHER REASONS. Upon termination of the
Optionee's employment for cause (as determined by the Committee), or for any
other reason other than as provided in Sections 3.6, 3.7 and 3.8, or except as
otherwise determined by the Committee in an Award Agreement, all Incentive Stock
Options shall terminate immediately upon the termination of the Optionee's
employment.

SECTION 3.10. APPLICABILITY OF STOCK OPTIONS SECTIONS. Sections 2.5, Manner of
Payment; and 2.6, Restrictions on Certain Shares, applicable to Stock Options,
shall apply equally to Incentive Stock Options. Said Sections are incorporated
by reference in this Article III as though fully set forth herein.

                      ARTICLE IV. PERFORMANCE SHARE AWARDS

SECTION 4.1. AWARDS GRANTED BY COMMITTEE. Coincident with or following
designation for participation in the Plan, a participant may be granted
Performance Shares. Certificates representing Performance Shares shall be issued
to the participant effective as of the date of the Award. Holders of Performance
Shares shall have all of the voting, dividend and other rights of stockholders
of the Company, subject to the terms of any Award Agreement.

SECTION 4.2. AMOUNT OF AWARD. The Committee shall establish a maximum amount of
a participant's Award, which amount shall be denominated in shares of Common
Stock.

SECTION 4.3. COMMUNICATION OF AWARD. Written notice of the maximum amount of a
participant's Award and the Performance Cycle determined by the Committee, if
any, shall be given to a participant as soon as practicable after approval of
the Award by the Committee. The grant of Performance Shares shall be evidenced
by a written Award Agreement, executed by the Company and the recipient of
Performance Shares, in such form as the Committee may from time to time
determine, providing for the terms of such grant.

SECTION 4.4. AMOUNT OF AWARD PAYABLE. Performance Shares may be granted based
upon past performance or future performance. In addition to any other
restrictions the Committee may place on Performance Shares, the Committee may,
in its discretion, provide that Performance Shares shall vest upon the
satisfaction of performance targets to be achieved during an applicable
"Performance Cycle." Failure to satisfy the performance targets may result, in
the Committee's discretion as set forth in an Award Agreement, in the forfeiture
of the Performance Shares by the participant and the return of such shares to
the Company, or have any other consequence as determined by the Committee.
Performance targets established by the Committee may relate to corporate, group,
unit or individual performance and may be established in terms of cash flow or
cash flow per share, net asset value or net asset value per share, earnings, or
such other measures or standards determined by the Committee. Multiple
performance targets may be used and the components of multiple performance
targets may be given the same or different weighting in determining the amount
of an Award earned, and may relate to absolute performance or relative
performance measured against other groups, units, individuals or entities. The
Committee may also establish that a portion of a full or maximum amount of a
participant's Award will be paid (subject to Section 4.6) for performance which
exceeds the minimum performance target but falls below the maximum performance
target applicable to such Award. Certificates representing Performance Shares
shall bear a legend restricting their transfer and requiring the forfeiture of
the shares to the Company if any performance targets or other conditions to
vesting are not met. The Committee may also

                                       -6-
<PAGE>
require a participant to deliver certificates representing unvested Performance
Shares to the Company in escrow until the Performance Shares vest.

SECTION 4.5. ADJUSTMENTS. At any time prior to vesting of a Performance Share,
the Committee may adjust previously established performance targets or other
terms and conditions to reflect events such as changes in laws, regulations, or
accounting practice, or mergers, acquisitions, divestitures or any other event
determined by the Committee.

SECTION 4.6. PAYMENTS OF AWARDS. Following the conclusion of each Performance
Cycle, the Committee shall determine the extent to which performance targets
have been attained, and the satisfaction of any other terms and conditions with
respect to vesting an Award relating to such Performance Cycle. To the extent
the Committee determines Performance Shares have vested, the Company shall issue
to the participant certificates representing vested shares free of any legend
regarding performance targets or forfeiture in exchange for such participant's
legended certificates.

SECTION 4.7. TERMINATION OF EMPLOYMENT. Unless the Award Agreement provides for
vesting upon death, disability, retirement or termination of employment, upon
any such termination of employment of a participant prior to vesting of
Performance Shares, all outstanding and unvested Awards of Performance Shares to
such participant shall be cancelled, shall not vest and shall be returned to the
Company.

SECTION 4.8. TRANSFER RESTRICTION. Any Award Agreement providing for the
issuance of Performance Shares to any person who, at the time of grant, is
subject to the restrictions of Section 16(b) of the Exchange Act, shall provide
that such Common Stock cannot be resold for a period of six months following the
grant of such Performance Shares.

                            ARTICLE V. MISCELLANEOUS

SECTION 5.1. GENERAL RESTRICTION. Each Award under the Plan shall be subject to
the requirement that, if at any time the Committee shall determine that (i) the
listing, registration or qualification of the shares of Common Stock subject or
related thereto upon any securities exchange or under any state or Federal law,
or (ii) the consent or approval of any government regulatory body, or (iii) an
agreement by the grantee of an Award with respect to the disposition of shares
of Common Stock, is necessary or desirable as a condition of, or in connection
with, the granting of such Award or the issue or purchase of shares of Common
Stock thereunder, such Award may not be consummated in whole or in part unless
such listing, registration, qualification, consent, approval or agreement shall
have been effected or obtained free of any conditions not acceptable to the
Committee. The provisions of this Plan are intended, and shall be interpreted,
to permit Awards made pursuant hereto to comply with the exemptions afforded by
Rule 16b-3 under the 1934 Act.

SECTION 5.2. NON-ASSIGNABILITY. No Award under the Plan shall be assignable or
transferable by the recipient thereof, except by will or by the laws of descent
and distribution. During the life of the recipient, such Award shall be
exercisable only by such person or by such person's guardian or legal
representative.

SECTION 5.3. WITHHOLDING TAXES. Whenever the Company proposes or is required to
issue or transfer shares of Common Stock under the Plan, the Company shall have
the right to require the grantee to remit to the Company an amount sufficient to
satisfy any Federal, state and/or local withholding tax requirements prior to
the delivery of any certificate or certificates for such shares. Alternatively,
at the Company's discretion, the Company may issue, transfer or vest only such
number of shares of the Company net of the number of shares sufficient to
satisfy the withholding tax requirements. For

                                       -7-
<PAGE>
withholding tax purposes, the shares of Common Stock shall be valued on the date
the withholding obligation is incurred.

SECTION 5.4. RIGHT TO TERMINATE EMPLOYMENT. Nothing in the Plan or in any
agreement entered into pursuant to the Plan shall confer upon any participant
the right to continue in the employment of the Company or affect any right which
the Company may have to terminate the employment of such participant.

SECTION 5.5. NON-UNIFORM DETERMINATIONS. The Committee's determinations under
the Plan (including without limitation, determinations of the persons to receive
Awards, the form, amount and timing of such Awards, the terms and provisions of
such Awards and the agreements evidencing same) need not be uniform and may be
made by it selectively among persons who receive, or are eligible to receive,
Awards under the Plan, whether or not such persons are similarly situated.

SECTION 5.6. RIGHTS AS A STOCKHOLDER. The recipient of any Award under the Plan
shall have no rights as a stockholder with respect thereto unless and until
certificates for shares of Common Stock are issued to him.

SECTION 5.7. DEFINITIONS. In this Plan, the following definitions shall apply:

      (a)    "Award" shall mean a grant of Stock Options, Incentive Stock
Options or Performance Shares under the Plan.

      (b)    "Fair market value" as of any date and in respect of any share of
Common Stock shall mean the closing price on such date on the NASDAQ National
Market System or such other exchange or market trading system upon which the
Common Stock shall then be trading; PROVIDED, HOWEVER, that if shares of Common
Stock shall not have been traded on any public securities market for more than
10 days immediately preceding such date or if deemed appropriate by the
Committee for any other reason, the fair market value of shares of Common Stock
shall be as determined by the Committee in such other manner as it may deem
appropriate. In no event shall the fair market value of any share of Common
Stock be less than its par value.

      (c)    "Option" means a Stock Option or Incentive Stock Option.

      (d)    "Option price" means the purchase price per share of Common Stock
deliverable upon the exercise of a Stock Option or Incentive Stock Option.

      (e)    "Performance Cycle" means the period of time, if any, as specified
by the Committee over which Performance Shares are to be vested.

SECTION 5.8. LEAVES OF ABSENCE. The Committee shall be entitled to make such
rules, regulations and determinations as it deems appropriate under the Plan in
respect of any leave of absence taken by the recipient of any Award. Without
limiting the generality of the foregoing, the Committee shall be entitled to
determine (i) whether or not any such leave of absence shall constitute a
termination of employment within the meaning of the Plan and (ii) the impact, if
any, of any such leave of absence on Awards under the Plan theretofore made to
any recipient who takes such leave of absence.

SECTION 5.9. NEWLY ELIGIBLE EMPLOYEES. The Committee shall be entitled to make
such rules, regulations, determinations and Awards as it deems appropriate in
respect of any employee who becomes eligible to participate in the Plan or any
portion thereof after the commencement of an Award or incentive period.

                                       -8-
<PAGE>
SECTION 5.10. ADJUSTMENTS. In the event of any change in the outstanding Common
Stock by reason of a stock dividend or distribution, recapitalization, merger,
consolidation, split-up, combination, exchange of shares or the like, the
Committee may appropriately adjust the number of shares of Common Stock which
may be issued under the Plan, the number of shares of Common Stock subject to
Options or Performance Shares theretofore granted under the Plan, and any and
all other matters deemed appropriate by the Committee.

SECTION 5.11. CHANGES IN THE COMPANY'S CAPITAL STRUCTURE.

      (a)    The existence of outstanding Options or Performance Shares shall
not affect in any way the right or power of the Company or its stockholders to
make or authorize any or all adjustments, recapitalizations, reorganizations or
other changes in the Company's capital structure or its business, or any merger
or consolidation of the Company, or any issue of bonds, debentures, preferred or
prior preference stock ahead of or affecting the Common Stock or the rights
thereof, or the dissolution or liquidation of the Company, or any sale or
transfer of all or any part of its assets or business, or any other corporate
act or proceeding, whether of a similar character or otherwise.

      (b)    If, while there are outstanding Options, the Company shall effect a
subdivision or consolidation of shares or other increase or reduction in the
number of shares of the Common Stock outstanding without receiving compensation
therefor in money, services or property, then, subject to the provisions, if
any, in the Award Agreement (a) in the event of an increase in the number of
such shares outstanding, the number of shares of Common Stock then subject to
Options hereunder shall be proportionately increased; and (b) in the event of a
decrease in the number of such shares outstanding the number of shares then
available for Option hereunder shall be proportionately decreased.

      (c)    After a merger of one or more corporations into the Company, or
after a consolidation of the Company and one or more corporations in which the
Company shall be the surviving corporation, (i) each holder of an outstanding
Option shall, at no additional cost, be entitled upon exercise of such Option to
receive (subject to any required action by stockholders) in lieu of the number
of shares as to which such Option shall then be so exercisable, the number and
class of shares of stock, other securities or consideration to which such holder
would have been entitled to receive pursuant to the terms of the agreement of
merger or consolidation if, immediately prior to such merger or consolidation,
such holder had been the holder of record of a number of shares of the Company
equal to the number of shares as to which such Option had been exercisable and
(ii) unless otherwise provided by the Committee, the number of shares of Common
Stock, other securities or consideration to be received with respect to unvested
Performance Shares shall continue to be subject to the Award Agreement,
including any vesting provisions thereof.

      (d)    If the Company is about to be merged into or consolidated with
another corporation or other entity under circumstances where the Company is not
the surviving corporation, or if the Company is about to sell or otherwise
dispose of substantially all of its assets to another corporation or other
entity while unvested Performance Shares or unexercised Options remain
outstanding, then the Committee may direct that any of the following shall
occur:

             (i)    If the successor entity is willing to assume the obligation
to deliver shares of stock or other securities after the effective date of the
merger, consolidation or sale of assets, as the case may be, each holder of an
outstanding Option shall be entitled to receive, upon the exercise of such
Option and payment of the option price, in lieu of shares of Common Stock, such
shares of stock or other securities as the holder of such Option would have been
entitled to receive had such Option been exercised immediately prior to the
consummation of such merger, consolidation or sale, and the terms of

                                       -9-
<PAGE>
such Option shall apply as nearly as practicable to the shares of stock or other
securities purchasable upon exercise of the Option following such merger,
consolidation or sale of assets;

             (ii)   The Committee may waive any limitations set forth in or
imposed pursuant to this Plan or any Award Agreement with respect to such Option
or Performance Share such that (A) such Option shall become exercisable prior to
the record or effective date of such merger, consolidation or sale of assets or
(B) the vesting of such Performance Share shall occur upon such merger,
consolidation or sale of assets; and/or

             (iii)  The Committee may cancel all outstanding Options as of the
effective date of any such merger, consolidation or sale of assets provided that
prior notice of such cancellation shall be given to each holder of an Option at
least 30 days prior to the effective date of such merger, consolidation or sale
of assets, and each holder of an Option shall have the right to exercise such
Option in full during a period of not less than 30 days prior to the effective
date of such merger, consolidation or sale of assets.

      (e)     Except as herein provided, the issuance by the Company of Common
Stock or any other shares of capital stock or securities convertible into shares
of capital stock, for cash, property, labor done or other consideration, shall
not affect, and no adjustment by reason thereof shall be made with respect to,
the number or price of shares of Common Stock then subject to outstanding
Options.

SECTION 5.12. AMENDMENT OF THE PLAN.

      (a)     The Board may, without further action by the stockholders and
without receiving further consideration from the participants, amend this Plan
or condition or modify Awards under this Plan in response to changes in
securities or other laws or rules, regulations or regulatory interpretations
thereof applicable to this Plan or to comply with stock exchange rules or
requirements.

      (b)     The Board may at any time and from time to time terminate or
modify or amend the Plan in any respect, except that without stockholder
approval the Board may not (i) increase the maximum number of shares of Common
Stock which may be issued under the Plan (other than increases pursuant to
Section 5.10), or (ii) extend the term of the Plan. Notwithstanding the above,
no amendment to the Plan or any Award shall be made without shareholder approval
if such approval is necessary to comply with any applicable tax or regulatory
requirement, including any requirements for exemptive relief under Section 16(b)
of the 1934 Act, or any successor provision. The termination or any modification
or amendment of the Plan, except as provided in subsection (a), shall not,
without the consent of a participant, affect a participant's rights under an
Award previously granted to such participant.

SECTION 5.13. RIGHTS UNDER THE PLAN. No officer or employee of the Company shall
have a right to be selected to participate in the Plan nor, having been so
selected, to be selected again to participate in the Plan. No officer, employee
or other person shall have any claim or right to be granted an Award under the
Plan or under any other incentive or similar plan of the Company. Neither the
Plan nor any action taken thereunder shall be construed as giving and employee
of the Company any right to be retained in the employ of the Company.

SECTION 5.14. APPLICABLE LAW. To the extent that the Plan is not governed or
regulated by applicable federal law, the Plan shall be governed and regulated
under and in accordance with the laws of the State of Texas.

                                      -10-

<PAGE>
SECTION 5.15. INTENTION TO COMPLY WITH APPLICABLE SECURITIES LAWS.

      (a)    With respect to persons subject to Section 16 of the Exchange Act,
transactions under the Plan are intended to comply with all applicable
conditions of Rule 16b-3 or its successors under the 1934 Act. To the extent 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.

      (b)    All transactions pursuant to terms of the Plan, including, with
limitation, Awards and vesting of shares of Common Stock, shall only be
effective at such time as counsel to the Company shall have determined that such
transaction will not violate federal or state securities or other laws. The
Committee may, in its sole discretion, defer the effectiveness of such
transaction to pursue whatever actions may be required to ensure compliance with
such federal or state securities or other laws.

                                      -11-

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