Document:

Exhibit
      4.0

    

    BUILDING
      MATERIALS HOLDING CORPORATION

    

    2008
      STOCK INCENTIVE PLAN

    

     

    1.   Purpose

     

    The
      purpose of the
      Building Materials Holding Corporation 2008 Stock Incentive Plan is to help
      the
      Company attract, retain and motivate officers, employees, Nonemployee Directors
      and service providers and
      to provide the
      Company and its Subsidiaries and Affiliates with a stock plan providing
      incentives for future performance of services directly linked to the
      profitability of the Company’s businesses and increases in Company stockholder
      value. The Plan provides for the grant of Incentive and Nonqualified Stock
      Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units,
      Stock, Incentive Bonuses, and Other Stock-Based Awards, any of which may be
      performance-based and may be paid in cash, stock, or a combination thereof,
      as
      determined by the Administrator.

     

    2.   Definitions

     

    As
      used in the Plan, the following terms shall have the meanings set forth
      below:

     

    (a) “Administrator”
means
      the
      Administrator of the Plan in accordance with Section 20.

     

    (b) “Affiliate”
means
      a
      corporation or other entity controlled by, controlling or under common control
      with the Company.

     

    (c) “Award”
means
      an
      Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right,
      Restricted Stock, Restricted Stock Unit, Stock, Phantom Stock Award, Incentive
      Bonus or Other Stock-Based Award granted to a Participant pursuant to the
      provisions of the Plan, any of which the Administrator may structure to qualify
      in whole or in part as a Performance Award.

     

    (d) “Award Agreement”
means
      a written
      agreement or other instrument as may be approved from time to time by the
      Administrator implementing the grant of each Award. An Agreement may be in
      the
      form of an agreement to be executed by both the Participant and the Company
      (or
      an authorized representative of the Company) or certificates, notices or similar
      instruments as approved by the Administrator.

     

    (e) “Board”
means
      the board
      of directors of the Company.

     

    (f) “Business
      Unit”
      means an entity,
      whether or not incorporated, more than fifty percent (50%) of the outstanding
      ownership interests of which are owned by the Company, directly or indirectly
      through one or more ownership chains where each link in the chain owns more
      than
      fifty percent (50%) of the outstanding ownership interests of the next link
      (either alone or together with other links in the same chain or another
      chain).

     

    
      
        
        

      

      
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    (g) “Cause”
means,
      unless
      otherwise provided by the Administrator in the terms and conditions of a
      particular Award, (1) “Cause” pursuant to any Individual Agreement to which
      the Participant is a party that is then in effect, or (2) if there is no such
      Individual Agreement or if it does not define Cause, termination of the
      Participant’s employment by the Company or any Subsidiary or Affiliate because
      of (A) conviction of or a plea of nolo
      contendre
      to a felony
      involving moral turpitude; (B) misappropriating any significant amount of funds
      or property of the Company; (C) attempting to obtain any significant personal
      profit from any transaction in which the Participant has an interest which
      is
      adverse to the interest of the Company, unless the Participant has first
      obtained consent from an officer of the Company; or (D) a pattern of gross
      dereliction of duty. The Administrator shall, unless otherwise provided in
      an
      Individual Agreement with the Participant, have the sole discretion to determine
      whether “Cause” exists and its determination shall be final.

     

    (h) “Change
      in
      Control” has
      the meaning set
      forth in Section 14(b).

     

    (i) “Change
      in
      Control Price” has
      the meaning set
      forth in Section 6(i).

     

    (j) “Code”
means
      the
      Internal Revenue Code of 1986, as amended from time to time, and the rulings
      and
      regulations issued thereunder.

     

    (k) “Company”
means
      Building
      Materials Holding Corporation, a Delaware corporation.

     

    (l) “Disability”
      means,
      unless
      otherwise provided by the Administrator in the terms and conditions of a
      particular Award, a Participant being “disabled” as defined in
      Section 409A(a)(2)(C) of the Code.

     

    (m) “Disposition
      of
      a Business Unit”
      means a sale or
      other disposition, however effected, of a Business Unit which is
      either:

     

    (1)
A
      sale by the
      Company or any Subsidiary or Affiliate of the then outstanding ownership
      interests of the Business Unit having more than 50% of the then existing voting
      power of all outstanding ownership interests of the Business Unit, whether
      by
      merger, consolidation or otherwise, unless after the sale the Company, any
      Subsidiary or Affiliate, or any trustee or other fiduciary holding securities
      under an employee benefit plan of the Company, the Business Unit or any
      Subsidiary or Affiliate, individually or collectively, directly or indirectly,
      owns the then outstanding ownership interests of the Business Unit having 50%
      or
      more of the then existing voting power of all outstanding ownership interests
      of
      the Business Unit;

     

    (2)
The
      sale of all or
      substantially all of the assets of the Business Unit as a going concern;
      or

     

    (3)
Any
      other
      transaction or course of action engaged in, directly or indirectly, by the
      Company, the Business Unit or any Subsidiary or Affiliate, that has a
      substantially similar effect as the transactions of the type referred to in
      clause (1) or (2) above.

     

    (n) “Fair
      Market
      Value” means
      (1) if the
      Shares are listed on New York Stock Exchange Euronext ("NYSE
      Euronext"),
      the closing
      sales price of the Shares as reported in the Wall
      Street
      Journal
      on the relevant
      date (or, if there were no reported sales on such date, the last date prior
      to
      such date on which there were sales); (2) if the Shares are not listed on NYSE
      Euronext, the average of the closing bid and asked prices for the Shares in
      the
      over-the-counter market as quoted on NYSE Euronext on the relevant date (or,
      if
      there were no reported sales on such date, the last date prior to such date
      on
      which there were sales); or (3) if the Shares are not listed or quoted on NYSE
      Euronext, an amount determined in good faith by the Administrator.

     

    
      
        
        

      

      
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    (o) “Good
      Reason”
means
      a Termination
      of Employment for “Good Reason” pursuant to an Individual Agreement to which the
      Participant is a party that is then in effect. If a Participant does not have
      an
      Individual Agreement, or if it does not define Good Reason, no Termination
      of
      Employment for that Participant shall be considered to be for “Good
      Reason.”

     

    (p) “Incentive Bonus”
means
      a bonus
      opportunity awarded under Section 9 pursuant to which a Participant may
      become entitled to receive an amount based on satisfaction of such performance
      criteria as specified in the Award Agreement.

     

    (q) “Incentive Stock Option”
means
      a stock
      option that is intended to qualify as an “incentive stock option” within the
      meaning of Section 422 of the Code.

     

    (r) “Individual
      Agreement” means
      a written
      employment, consulting or similar agreement between a Participant and the
      Company or any Subsidiary or Affiliate.

     

    (s) “Nonemployee Director”
means
      each person
      who is, or is elected to be, a member of the Board and who is not an employee
      of
      the Company or any Subsidiary or Affiliate. 

     

    (t) “Nonqualified Stock Option”
means
      a stock
      option that is not intended to qualify as an “incentive stock option” within the
      meaning of Section 422 of the Code.

     

    (u) “Option”
means
      an
      Incentive Stock Option and/or a Nonqualified Stock Option granted pursuant
      to
      Section 6 of the Plan.

     

    (v) "Other
      Stock-Based Award"
      means a right
      granted pursuant to Section 11 of the Plan that entitles the Participant to
      receive Shares or other Awards valued in reference to or based on Shares, or
      a
      combination thereof.

     

    (w) “Participant”
means
      any
      individual described in Section 3 to whom Awards have been granted from
      time to time by the Administrator and any authorized transferee of such
      individual.

     

    (x) “Performance Award”
means
      an Award,
      the grant, issuance, retention, vesting or settlement of which is subject to
      satisfaction of one or more Qualifying Performance Criteria established pursuant
      to Section 16.

     

    (y) “Plan”
means
      the
      Building Materials Holding Corporation 2008 Stock Incentive Plan as set forth
      herein and as amended from time to time.

     

    (z) “Prior
      Plans”
means
      the
      Company's Amended and Restated 1993 Employee Stock Option Plan, the BMHC 2000
      Stock Incentive Plan, and the BMHC 2004 Incentive and Performance Plan.

     

    (aa) “Qualifying Performance Criteria”
has
      the meaning
      set forth in Section 16(b).

     

    (bb) “Restricted Stock”
means
      Shares
      granted pursuant to Section 8 of the Plan.

     

    
      
        
        

      

      
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    (cc) “Restricted Stock Unit”
means
      an Award
      granted pursuant to Section 8 of the Plan.

     

    (dd) “Retirement”
      means
      cessation of
      active employment or service with the Company or any Subsidiary or Affiliate
      at
      or after reaching an age specified in the relevant provisions of the Plan for
      reasons other than death, Disability, or Termination of Employment for
      Cause.

     

    (ee) “Share”
means
      a share of
      the Company’s common stock, par value $.001, subject to adjustment as provided
      in Section 15.

     

    (ff) “Stock Appreciation Right”
means
      a right
      granted pursuant to Section 7 of the Plan that entitles the Participant to
      receive, in Shares, cash, or a combination thereof, as determined by the
      Administrator, value equal to or otherwise based on the excess of (1) the Fair
      Market Value of a specified number of Shares on the date of exercise over (2)
      the exercise price of the right, as established by the Administrator on the
      date
      of grant.

     

    (gg) “Subsidiary”
means
      any
      corporation (other than the Company) in an unbroken chain of corporations
      beginning with the Company where each of the corporations in the unbroken chain
      other than the last corporation owns stock possessing at least fifty percent
      (50%) or more of the total combined voting power of all classes of stock in
      one
      of the other corporations in the chain, and if specifically determined by the
      Administrator in the context other than with respect to Incentive Stock Options,
      may include an entity in which the Company has a significant ownership interest
      or that is directly or indirectly controlled by the Company.

     

    (hh) “Substitute
      Awards”
means
      Awards
      granted or Shares issued by the Company in assumption of, or in substitution
      or
      exchange for, awards previously granted, or the right or obligation to make
      future awards, by an entity acquired by the Company or any Subsidiary or
      Affiliate or with which the Company or any Subsidiary or Affiliate
      combines.

     

    (ii) “Termination
      of
      Employment”
means
      ceasing to
      serve as a full-time employee of the Company or any Subsidiary or Affiliate,
      or,
      with respect to a service provider, ceasing to serve as such for the Company,
      except that with respect to any Award held by a Participant (1) the
      Administrator may determine, subject to Section 6(d), that an approved
      leave of absence or approved employment on a less than full-time basis is not
      considered a “Termination of Employment;” (2) the Administrator may
      determine that a transition of employment to service with a partnership, joint
      venture or corporation not meeting the requirements of a Subsidiary or Affiliate
      in which the Company or any Subsidiary or Affiliate is a party is not considered
      a “Termination of Employment;” (3) service as a member of the Board or
      other service provider shall constitute continued employment with respect to
      Awards granted to a Participant while he or she served as an employee; and
      (4) service as an employee or other service provider of the Company or any
      Subsidiary or Affiliate shall constitute continued employment with respect
      to
      Awards granted to a Participant while he or she served as a member of the Board.
      A Participant employed by, or performing services for, any Subsidiary or
      Affiliate shall be deemed to incur a Termination of Employment if the Subsidiary
      or Affiliate ceases to be such a Subsidiary or Affiliate, as the case may be,
      and the Participant does not immediately thereafter become an employee or
      service-provider for the Company or another Subsidiary or Affiliate.

     

    3.   Eligibility

     

    Any
      person who is a
      current or prospective officer, employee or Nonemployee Director of, or who
      has
      been retained to provide consulting, advisory or other services to, the Company
      or any Subsidiary shall be eligible for selection by the Administrator for
      the
      grant of Options or Stock Appreciation Rights hereunder; and any person who
      is a
      current or prospective officer, employee or Nonemployee Director of, or
      consultant to, the Company or any Subsidiary or Affiliate shall be eligible
      for
      selection by the Administrator for the grant of Awards other than Options or
      Stock Appreciation Rights hereunder. Options intending to qualify as Incentive
      Stock Options may only be granted to employees of the Company or any Subsidiary
      or Affiliate within the meaning of the Code, as selected by the
      Administrator.

     

    
      
        
        

      

      
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    4.   Effective
      Date and Termination of Plan

     

    This
      Plan will
      become effective (the “Effective
      Date”)
      when it is
      approved by the Company’s stockholders. All Awards granted under this Plan are
      subject to, and may not be exercised before, the approval of this Plan by the
      stockholders prior to the first anniversary date of the adoption of the Plan
      by
      the Board, by the affirmative vote of the holders of a majority of the
      outstanding Shares of the Company present, or represented by proxy, and entitled
      to vote, at a meeting of the Company’s stockholders or by written consent in
      accordance with the laws of the State of Delaware; provided that if such
      approval by the stockholders of the Company is not forthcoming, all Awards
      previously granted under this Plan shall be void. The Plan shall remain
      available for the grant of Awards until the tenth (10th) anniversary of the
      Effective Date. Notwithstanding the foregoing, the Plan may be terminated at
      such earlier time as the Board may determine. Termination of the Plan will
      not
      affect the rights and obligations of the Participants and the Company arising
      under Awards theretofore granted and then in effect.

     

    5.   Shares
      Subject to the Plan and to Awards

     

    (a) Aggregate
      Limits.
The
      aggregate
      number of Shares issuable pursuant to all Awards granted under this Plan shall
      not exceed 2,000,000. The aggregate number of Shares available for grant under
      this Plan and the number of Shares subject to outstanding Awards shall be
      subject to adjustment as provided in Section 15. The Shares issued pursuant
      to Awards granted under this Plan may be shares that are authorized and unissued
      or shares that were reacquired by the Company, including shares purchased in
      the
      open market.

     

    (b) Issuance
      of
      Shares.
      For purposes of
      Section 5(a), the aggregate number of Shares issued under this Plan at any
      time shall equal only the number of Shares actually issued upon exercise or
      settlement of an Award. Notwithstanding the foregoing, Shares subject to an
      Award under the Plan may not again be made available for issuance under the
      Plan
      if such Shares are: (1) Shares that were subject to a stock-settled Stock
      Appreciation Right and were not issued upon the net settlement or net exercise
      of such Stock Appreciation Right, (2) Shares used to pay the exercise price
      of an Option, (3) Shares delivered to or withheld by the Company to pay the
      withholding taxes related to an Option or Stock Appreciation Right, or
      (4) Shares repurchased on the open market with the proceeds of an Option
      exercise. Shares subject to Awards that have been canceled, expired, forfeited,
      surrendered, or otherwise not issued under an Award and Shares subject to Awards
      settled in cash shall not count as Shares issued under this Plan.

     

    (c) Tax
      Code
      Limits.
      The aggregate
      number of Shares subject to Options or Stock Appreciation Rights granted under
      this Plan during any calendar year to any one Participant shall not exceed
      600,000 and the aggregate number of Shares granted as Awards other than Options
      or Stock Appreciation Rights under this Plan during any calendar year to any
      one
      Participant shall not exceed 600,000; which shall be calculated and adjusted
      pursuant to Section 15 only to the extent that such calculation or
      adjustment will not affect the status of any Award that is intended to qualify
      as “performance-based compensation” under Section 162(m) of the Code, but
      which number shall not count any tandem SARs (as defined in Section 7). The
      aggregate number of Shares that may be issued pursuant to the exercise of
      Incentive Stock Options granted under this Plan shall not exceed 2,000,000,
      which number shall be calculated and adjusted pursuant to Section 15 only
      to the extent that such calculation or adjustment will not affect the status
      of
      any option that is intended to qualify as an Incentive Stock Option under
      Section 422 of the Code. The maximum amount payable to any Participant
      under this Plan pursuant to that portion of an Incentive Bonus granted in any
      calendar year that is intended to satisfy the requirements for
“performance-based compensation” under Section 162(m) of the Code shall not
      exceed $5,000,000.

     

    
      
        
        

      

      
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    (d) Substitute
      Awards. Substitute
      Awards
      shall not reduce the Shares authorized for issuance under the Plan or authorized
      for grant to a Participant in any calendar year. Additionally, in the event
      that
      an entity acquired by the Company or any Subsidiary or Affiliate, or with which
      the Company or any Subsidiary or Affiliate combines, has securities available
      under a pre-existing plan approved by stockholders or other owners and not
      adopted in contemplation of such acquisition or combination, the securities
      available for grant pursuant to the terms of such pre-existing plan (as
      adjusted, to the extent appropriate, using the exchange ratio or other
      adjustment or valuation ratio or formula used in such acquisition or combination
      to determine the consideration payable to the holders of securities of such
      entity involved in such acquisition or combination and expressed in terms of
      Shares) may be used for Awards under the Plan and shall not reduce the Shares
      authorized for issuance under the Plan; provided that Awards using such
      available shares shall not be made after the date awards or grants could have
      been made under the terms of the pre-existing plan, absent the acquisition
      or
      combination, and shall only be made to individuals who were not employees,
      directors or consultants of the Company or any Subsidiary or Affiliate
      immediately before such acquisition or combination.

     

    6.   Options

     

    (a) Option
      Awards.
      Options may be
      granted to Participants as determined by the Administrator. No Participant
      shall
      have rights as a stockholder with respect to Shares subject to Options hereunder
      until said Shares have been issued. Each Option shall be evidenced by an Award
      Agreement, which shall become effective upon execution by the Company and the
      Participant. Options granted pursuant to the Plan need not be identical but
      each
      Option must contain and be subject to the terms and conditions set forth below.
      

     

    (b) Price.
      The Administrator
      will establish the exercise price per Share under each Option, which, in no
      event will be less than one hundred percent (100%) of the Fair Market Value
      of
      the Shares on the date of grant; provided that the exercise price per Share
      with
      respect to an Option that is granted in connection with a merger or other
      acquisition as a substitute or replacement award for options held by optionees
      of the acquired entity may be less than one hundred percent (100%) of the Fair
      Market Value of the Shares on the date such Option is granted if such exercise
      price is based on a formula set forth in the terms of the options held by such
      optionees or in the terms of the agreement providing for such merger or other
      acquisition. The exercise price of any Option may be paid at the discretion
      of
      the Administrator in Shares, cash or check, or a combination thereof, as
      determined by the Administrator, including an irrevocable commitment by a broker
      to pay over such amount from a sale of the Shares issuable under an Option
      (i.e., a "same day sale"), the delivery of previously owned Shares, the
      withholding of Shares deliverable upon exercise, or any combination of the
      foregoing.

     

    
      
        
        

      

      
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    (c) No
      Repricing.
      Other than in
      connection with a change in the Company’s capitalization (as described in
      Section 15) the exercise price of an Option may not be reduced without
      stockholder approval (including canceling previously awarded Options and
      regranting them with a lower exercise price).

     

    (d) Provisions
      Applicable to Options.
      Options shall be
      exercisable over the exercise period at such times and upon such conditions
      as
      the Administrator, in its sole discretion, may determine, as reflected in the
      Award Agreement; provided that the Administrator shall have the authority to
      accelerate the exercisability of any outstanding Option at such time and under
      such circumstances that it deems appropriate. Unless provided otherwise in
      the
      applicable Award Agreement, to the extent that the Administrator determines
      that
      an approved leave of absence or employment on a less than full-time basis is
      not
      a Termination of Employment, the vesting period and/or exercisability of an
      Option shall be adjusted by the Administrator to reflect the effects of any
      period during which the Participant is on an approved leave of absence or is
      employed on a less than full-time basis. 

     

    (e) Term
      of Options
      and Termination of Employment:
      The Administrator
      shall establish the term of each Option, which in no case shall exceed a period
      of ten (10) years from the date of grant. Unless an Option earlier expires
      upon
      the expiration date established pursuant to the foregoing sentence, upon the
      termination of the Participant’s employment, his or her rights to exercise an
      Option then held shall be as follows, unless the Administrator specifies
      otherwise:

     

    (1) Death.
      Unless otherwise
      determined by the Administrator (including under an Individual Agreement),
      if a
      Participant incurs a Termination of Employment by reason of death, any Option
      held by such Participant may thereafter be exercised, to the extent it was
      exercisable at the time of death or on such accelerated basis as the
      Administrator may determine, for a period of six (6) months (or such other
      period as the Administrator may specify in an Award Agreement) from the date
      of
      such Termination of Employment or until the expiration of the stated term of
      such Option, whichever period is the shorter. 

     

    (2) Disability.
      Unless otherwise
      determined by the Administrator (including under an Individual Agreement),
      if a
      Participant incurs a Termination of Employment by reason of Disability, any
      Option held by such Participant may thereafter be exercised, to the extent
      it
      was exercisable at the time of Disability or on such accelerated basis as the
      Administrator may determine, for a period of six (6) months (or such other
      period as the Administrator may specify in an Award Agreement) from the date
      of
      such Termination of Employment or until the expiration of the stated term of
      such Option, whichever period is the shorter.

     

    (3) Retirement
      after Age 55.
      Unless otherwise
      determined by the Administrator (including under an Individual Agreement),
      if a
      Participant incurs a Termination of Employment by reason of Retirement after
      age
      55, any Option other than an Incentive Stock Option held by such Participant
      may
      thereafter be exercised by the Participant, to the extent it was exercisable
      at
      the time of such Retirement, or on such accelerated basis as the Administrator
      may determine, for a period of thirty-six (36) months (or such other period
      as
      the Administrator may specify in the Award Agreement) from the date of such
      Termination of Employment or until the expiration of the stated term of such
      Option, whichever period is the shorter. In addition, any Incentive Stock Option
      may be converted into a non-statutory stock option, by written request within
      a
      period of sixty (60) days ending on the date that is six (6) months prior to
      the
      Participant's date of Retirement, which shall thereafter be subject to the
      thirty-six (36) month exercise period set forth herein, provided that such
      Participant actually retires on his or her intended date of Retirement. In
      the
      event that a Participant fails to convert any Incentive Stock Option hereunder,
      any such Incentive Stock Option may thereafter be exercised by the Participant,
      to the extent it was exercisable at the time of Retirement, or on such
      accelerated basis as the Administrator may determine, for a period of thirty
      (30) days (or such other period as the Administrator may specify in the Award
      Agreement) from the date of the Termination of Employment or until the
      expiration of the stated term of such Incentive Stock Option, whichever period
      is the shorter.

     

    
      
        
        

      

      
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    (4) Retirement
      At
      Age 60 or Older.
      Unless otherwise
      determined by the Administrator (including under an Individual Agreement),
      if a
      Participant incurs a Termination of Employment by reason of Retirement at age
      60
      or older and has provided at least fifteen (15) years of service to the Company
      or any predecessor, Subsidiary or Affiliate, fifty percent (50%) of any unvested
      Options other than Incentive Stock Options at the date of Retirement shall
      automatically vest and an additional five percent (5%) of any unvested Options
      shall vest for each year of service beyond fifteen (15) years. If a Participant
      incurs a Termination of Employment by reason of Retirement at age 60 or older
      and has provided at least twenty five (25) years of service to the Company
      or
      any predecessor, Subsidiary or Affiliate, one hundred percent (100%) of any
      unvested Options other than Incentive Stock Options shall automatically vest
      at
      the date of retirement.

     

    (5) Termination
      for
      Cause. Unless
      otherwise
      determined by the Administrator (including under an Individual Agreement),
      if a
      Participant incurs a Termination of Employment for Cause, all Options held
      by
      such Participant shall thereupon terminate.

     

    (6) Other
      Reasons.
      Unless otherwise
      determined by the Administrator (including under an Individual Agreement),
      if a
      Participant incurs a Termination of Employment for any reason other than for
      Cause, death, Disability or Retirement, any Option held by such Participant
      may
      thereafter be exercised by the Participant, to the extent it was exercisable
      at
      the time of such termination, or on such accelerated basis as the Administrator
      may determine, for a period of thirty (30) days (or such other period as the
      Administrator may specify in the Award Agreement) from the date of such
      Termination of Employment or until the expiration of the stated term of such
      Option, whichever period is the shorter.

     

    (f) Vesting.
      Subject to other
      provisions of the Plan and reasonable conditions including continued employment,
      Options granted to Participants who are not officers or consultants of the
      Company or any Subsidiary or Affiliate shall vest at least twenty percent (20%)
      each year over five (5) years from the date of grant. Options granted to
      Participants who are officers or consultants of the Company or any Subsidiary
      or
      Affiliate shall vest at any time or during any period determined by the
      Administrator.

     

    (g) Incentive
      Stock
      Options.
      Notwithstanding
      anything to the contrary in this Section 6, in the case of the grant of an
      Option intending to qualify as an Incentive Stock Option: (1) if the
      Participant owns stock possessing more than ten percent (10%) of the combined
      voting power of all classes of stock of the Company (a “10%
      Stockholder”),
      the exercise
      price of such Option must be at least one hundred ten percent (110%) of the
      Fair
      Market Value of the Shares on the date of grant, and (2) Termination of
      Employment will occur when the person to whom an Award was granted ceases to
      be
      an employee of the Company or any Subsidiary or Affiliate, as determined in
      accordance with Section 3401(c) of the Code and the regulations promulgated
      thereunder. Notwithstanding anything in this Section 6 to the contrary,
      options designated as Incentive Stock Options shall not be eligible for
      treatment under the Code as Incentive Stock Options (and will be deemed to
      be
      Nonqualified Stock Options) to the extent that either (a) the aggregate Fair
      Market Value of the Shares (determined at the time of grant) with respect to
      which such Options are exercisable for the first time by the Participant during
      any calendar year (under all plans of the Company or any Subsidiary or
      Affiliate) exceeds $100,000, taking Options into account in the order in which
      they were granted, or (b) such Options otherwise remain exercisable but are
      not
      exercised within three (3) months of Termination of Employment (or such other
      period of time provided in Section 422 of the Code). For any sale or other
      disposition of Shares acquired pursuant to an Incentive Stock Option, the
      Participant must notify the Company in writing of any such sale or other
      disposition if it occurs within two (2) years of the grant of the Incentive
      Stock Option or within one (1) year of the issuance of the Shares to the
      Participant.

     

    
      
        
        

      

      
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    (h) Cashing
      Out of
      Option. On
      receipt of
      written notice of exercise, the Administrator may elect to cash out all or
      part
      of the portion of the Shares for which an Option is being exercised by paying
      the Participant an amount, in cash or Shares, equal to the excess of the per
      Share Fair Market Value over the per Share exercise price of the Option times
      the number of Shares for which the Option is being exercised on the effective
      date of such cash-out.

     

    (i) Change
      in
      Control Cash-Out. Notwithstanding
      any
      other provision of the Plan in connection with a Change in Control or an
      anticipated Change in Control, the Company shall have the right to cancel an
      Option and, in exchange therefor, to pay to the Participant in cash, Shares,
      or
      a combination thereof in an amount equal to the amount by which the Change
      in
      Control Price per Share exceeds the exercise price per Share under the Option
      multiplied by the number of Shares granted under the Option. For purposes of
      the
      Plan, “Change
      in
      Control Price” means
      [the highest
      of (1) the highest reported sales price of a Share in any transaction
      reported on NYSE Euronext or other national exchange on which such shares are
      listed during the 60-day period prior to and including the date of a Change
      in
      Control, (2) if the Change in Control is the result of a tender or exchange
      offer, the highest price per Share paid in such tender or exchange offer or
      (3)
      the actual price per Share paid in the Change of Control transaction;] provided,
      however, that in the case of Incentive Stock Options and Stock Appreciation
      Rights relating to Incentive Stock Options, the Change in Control Price shall
      be
      in all cases the Fair Market Value of the Shares on the date such Incentive
      Stock Option or Stock Appreciation Right is exercised.

     

    7.   Stock
      Appreciation Rights

     

    Stock
      Appreciation
      Rights may be granted to Participants either in tandem with or as a component
      of
      other Awards granted under the Plan (“tandem
      SARs”)
      or not in
      conjunction with other Awards (“freestanding
      SARs”)
      and may, but
      need not, relate to a specific Option granted under Section 6. The
      provisions of Stock Appreciation Rights need not be the same with respect to
      each grant or each recipient. Any Stock Appreciation Right granted in tandem
      with an Award may be granted at the same time such Award is granted or at any
      time thereafter before exercise or expiration of such Award. All freestanding
      SARs shall be granted subject to the same terms and conditions applicable to
      Options as set forth in Section 6 and all tandem SARs shall have the same
      exercise price, vesting, exercisability, forfeiture and termination provisions
      as the Award to which they relate. Subject to the provisions of Section 6
      and the immediately preceding sentence, the Administrator may impose such other
      conditions or restrictions on any Stock Appreciation Right as it shall deem
      appropriate. Stock Appreciation Rights may be settled in Shares, cash, or a
      combination thereof, as determined by the Administrator and set forth in the
      applicable Award Agreement. Other than in connection with a change in the
      Company’s capitalization (as described in Section 15) the exercise price of
      Stock Appreciation Rights may not be reduced without stockholder approval
      (including canceling previously awarded Stock Appreciation Rights and regranting
      them with a lower exercise price).

     

    
      
        
        

      

      
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    8.   Restricted
      Stock and Restricted Stock Units

     

    (a) Restricted
      Stock and Restricted Stock Unit Awards.
      Restricted Stock
      and Restricted Stock Units may be granted to Participants as determined by
      the
      Administrator. Restricted Stock is an award or issuance of Shares the grant,
      issuance, retention, vesting and/or transferability of which is subject during
      specified periods of time to such conditions (including continued employment
      or
      performance conditions) and terms as the Administrator deems appropriate.
      Restricted Stock Units are Awards denominated in units of Shares under which
      the
      issuance of Shares is subject to such conditions (including continued employment
      or performance conditions) and terms as the Administrator deems appropriate.
      Awards of Restricted Stock may be awarded in consideration for past services
      actually rendered to the Company or any Subsidiary or Affiliate; provided that
      in the case of Restricted Stock awarded to a new employee or consultant who
      has
      not performed services for the Company, the Company shall require such
      consideration to be paid as will ensure compliance with the General Corporation
      Law of the State of Delaware. Each grant of Restricted Stock and Restricted
      Stock Units shall be evidenced by an Award Agreement. Unless determined
      otherwise by the Administrator, each Restricted Stock Unit will be equal to
      one
      (1) Share and will entitle a Participant to either the issuance of Shares or
      payment of an amount of cash determined with reference to the value of Shares.
      To the extent determined by the Administrator, Restricted Stock and Restricted
      Stock Units granted pursuant to the Plan need not be identical but each grant
      of
      Restricted Stock and Restricted Stock Units must contain and be subject to
      the
      terms and conditions set forth below.

     

    (b) Contents
      of
      Award Agreement.
      Each Award
      Agreement shall contain provisions regarding (1) the number of Shares or
      Restricted Stock Units subject to such Award or a formula for determining such
      number; (2) the purchase price of the Shares, if any, and the means of payment;
      (3) the performance criteria, if any, and level of achievement versus these
      criteria that shall determine the number of Shares or Restricted Stock Units
      granted, issued, retainable and/or vested; (4) such terms and conditions on
      the
      grant, issuance, vesting and/or forfeiture of the Shares or Restricted Stock
      Units as may be determined from time to time by the Administrator; (5) the
      term of the performance period, if any, as to which performance will be measured
      for determining the number of such Shares or Restricted Stock Units; and (6)
      restrictions on the transferability of the Shares or Restricted Stock Units.
      Shares issued under a Restricted Stock Award may be issued in the name of the
      Participant and held by the Participant or held by the Company, in each case
      as
      the Administrator may provide.

     

    (c) Vesting
      and
      Performance Criteria.
      The grant,
      issuance, retention, vesting and/or settlement of shares of Restricted Stock
      and
      Restricted Stock Units will occur when and in such installments as the
      Administrator determines or under criteria the Administrator establishes, which
      may include Qualifying Performance Criteria. The Administrator may provide
      for
      the satisfaction and/or lapse of all conditions under any Restricted Stock
      or
      Restricted Stock Unit Award in the event of the Participant’s death, Disability,
      Retirement, Termination of Employment by the Company without Cause or by the
      Participant for Good Reason, or in connection with a Change in Control.
      Notwithstanding anything in this Plan to the contrary, the performance criteria
      for any Restricted Stock or Restricted Stock Unit that is intended to satisfy
      the requirements for “performance-based compensation” under Section 162(m)
      of the Code will be a measure based on one or more Qualifying Performance
      Criteria selected by the Administrator and specified when the Award is
      granted.

     

    
      
        
        

      

      
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    (d) Discretionary
      Adjustments and Limits.
      Notwithstanding
      the satisfaction of any performance goals, the number of Shares granted, issued,
      retainable and/or vested under an Award of Restricted Stock or Restricted Stock
      Units on account of either financial performance or personal performance
      evaluations may, to the extent specified in the Award Agreement, be reduced
      by
      the Administrator on the basis of such further considerations as the
      Administrator shall determine.

     

    (e) Voting
      Rights.
      Unless otherwise
      determined by the Administrator, Participants holding shares of Restricted
      Stock
      granted hereunder may exercise full voting rights with respect to those shares
      during the period of restriction. Participants shall have no voting rights
      with
      respect to Shares underlying Restricted Stock Units unless and until such Shares
      are reflected as issued and outstanding shares on the Company’s stock
      ledger.

     

    (f) Dividends
      and
      Distributions.
      Restricted Stock
      and Shares underlying Restricted Stock Units shall be entitled to dividends
      or
      dividend equivalents only to the extent provided by the Administrator. The
      Administrator will determine whether any such dividends or distributions will
      be
      automatically reinvested in additional shares of Restricted Stock or in
      additional Restricted Stock Units, and subject to the same restrictions and
      risk
      of forfeiture as the Awards with respect to which they were distributed or
      whether such dividends or distributions will be paid in cash. Reinvestment
      of
      dividends in additional Restricted Stock and/or Restricted Stock Units at the
      time of any dividend payment shall only be permissible if sufficient Shares
      are
      available under Section 5(a) for such reinvestment (taking into account
      then outstanding Awards).

     

    9.   Incentive
      Bonuses

     

    (a) General.
      Each Incentive
      Bonus Award will confer upon the Participant the opportunity to earn a future
      payment tied to the level of achievement with respect to one or more performance
      criteria established for a performance period. The Administrator shall establish
      the specific performance goals to be achieved and the formula pursuant to which
      the amount of the Incentive Bonus shall be determined based on the attainment
      of
      specified levels of performance goals; provided that for an Incentive Bonus
      that
      is intended to qualify as “performance-based compensation” within the meaning of
      Section 162(m) of the Code, the Administrator shall establish such elements
      in
      writing no later than ninety (90) days after the beginning of each performance
      period or, in the case of a performance period of less than one (1) year, a
      period of time that equals twenty-five percent (25%) of the performance period.
      In addition, each Incentive Bonus that is intended to qualify as
“performance-based compensation” within the meaning of Section 162(m) of the
      Code shall not exceed $5,000,000 in any given year or, if applicable, other
      performance period. 

     

    (b) Incentive
      Bonus
      Document.
      The terms of any
      Incentive Bonus will be set forth in an Award Agreement. Each Award Agreement
      evidencing an Incentive Bonus shall contain provisions regarding (1) the target
      and maximum amount payable to the Participant as an Incentive Bonus, (2) the
      performance criteria and level of achievement versus these criteria that shall
      determine the amount of such payment, (3) the term of the performance period
      as
      to which performance shall be measured for determining the amount of any
      payment, (4) the timing of any payment earned by virtue of performance, (5)
      restrictions on the alienation or transfer of the Incentive Bonus prior to
      actual payment, (6) forfeiture provisions, and (7) such further terms and
      conditions, in each case not inconsistent with this Plan as may be determined
      from time to time by the Administrator.

     

    
      
        
        

      

      
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    (c) Performance
      Criteria.
      The Administrator
      shall establish the performance criteria and level of achievement versus these
      criteria that shall determine the target and maximum amount payable under an
      Incentive Bonus, which criteria may be based on financial performance and/or
      personal performance evaluations. The Administrator may specify the percentage
      of the target Incentive Bonus that is intended to satisfy the requirements
      for
“performance-based compensation” under Section 162(m) of the Code.
      Notwithstanding anything to the contrary herein, the performance criteria for
      any portion of an Incentive Bonus that is intended by the Administrator to
      satisfy the requirements for “performance-based compensation” under
      Section 162(m) of the Code shall be based on one or more Qualifying
      Performance Criteria (as defined in Section 16(b)) selected by the
      Administrator. The Administrator shall certify the extent to which any
      Qualifying Performance Criteria has been satisfied, and the amount payable
      as a
      result thereof, prior to payment of any Incentive Bonus that is intended to
      satisfy the requirements for “performance-based compensation” under
      Section 162(m) of the Code.

     

    (d) Timing
      and Form
      of Payment.
      The Administrator
      shall determine the timing of payment of any Incentive Bonus. Payment of the
      amount due under an Incentive Bonus may be made in Shares or cash, as determined
      by the Administrator. Subject to such terms and conditions as the Administrator
      may specify, the Administrator may permit a Participant to elect for the payment
      of any Incentive Bonus to be deferred to a specified date or event.

     

    (e) Discretionary
      Adjustments.
      Notwithstanding
      satisfaction of any performance goals, the amount paid under an Incentive Bonus
      on account of either financial performance or personal performance evaluations
      may, to the extent specified in the Award Agreement, be reduced by the
      Administrator on the basis of such further considerations as the Administrator
      shall determine.

     

    10.      
      Non-Discretionary
      Grants to Non-Employee Directors

     

    Regular
      annual
      issuances of common stock are automatically issued to Eligible Directors as
      follows:

     

    (a) Annual
      Issuances. On
      each Annual
      Issue Date, immediately after the annual election of directors, the Company
      shall issue to each Eligible Director then in office a number of shares of
      common stock equal to fifty thousand dollars ($50,000) divided by the
      closing price on the relevant Annual Issue Date of one share of common stock
      on
      the New York Stock Exchange, rounded up to the nearest 100 shares, for a
      purchase price of $0.01 per Share. 

     

    (b) Termination
      of
      Membership on the Board. If
      an Eligible
      Director's membership on the Board terminates for any reason, no further shares
      of common stock shall be issued under this Plan to such Eligible Director on
      or
      after such date of termination.

     

    (c) Certain
      Definitions. "Annual
      Issue Date"
      shall mean the date of the Company's Annual Meeting of Shareholders. "Eligible
      Director" shall mean any person who is a member of the Board of Directors and
      who is not a full or part-time employee of the Company or of any parent or
      subsidiary corporation (as defined in Section 424 of the Code) of the Company,
      and who has not been an employee of the Company or of any parent or Subsidiary
      of the Company within one (1) year prior to participation in this
      Plan.

     

    
      
        
        

      

      
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    11.      
      Other
      Stock-Based Awards

     

    Other
      Stock-Based
      Awards may be granted to Participants, either alone or in addition to other
      Awards granted under the Plan, and may be paid in Shares, cash, or a combination
      thereof, as determined from time to time by the Administrator. The Administrator
      shall have the sole discretion to establish the terms and conditions under
      which
      Other Stock-Based Awards are granted, including but not limited to the
      Participants who are eligible to receive such Awards, the times at which such
      Awards are made, any performance conditions, and the number of Shares granted
      pursuant to such Awards. To the extent determined by the Administrator, Other
      Stock-Based Awards granted pursuant to the Plan need not be identical but each
      such grant must be evidenced by an Award Agreement.

     

    12.      
      Deferral
      of
      Gains

     

    The
      Administrator
      may, in an Award Agreement or otherwise, provide for the deferred delivery
      of
      Shares upon settlement, vesting or other events with respect to Restricted
      Stock
      or Restricted Stock Units, or in payment or satisfaction of an Incentive Bonus.
      Notwithstanding anything herein to the contrary, in no event will any deferral
      of the delivery of Shares or any other payment with respect to any Award be
      allowed if the Administrator determines, in its sole discretion, that the
      deferral would result in the imposition of additional tax under
      Section 409A(a)(1)(B) of the Code.

     

    13.      
      Conditions
      and Restrictions Upon Securities Subject to Awards

     

    The
      Administrator
      may provide that the Shares issued upon exercise of an Option or Stock
      Appreciation Right or otherwise subject to or issued under an Award shall be
      subject to such further agreements, restrictions, conditions or limitations
      as
      the Administrator in its discretion may specify prior to the exercise of such
      Option or Stock Appreciation Right or the grant, vesting or settlement of such
      Award, including without limitation: (a) conditions on vesting or
      transferability, forfeiture or repurchase provisions; (b) the method of payment
      for the Shares issued upon exercise, vesting or settlement of such Award
      (including the actual or constructive surrender of Shares already owned by
      the
      Participant); and (c) the payment of taxes arising in connection with an Award.
      Without limiting the foregoing, such restrictions may address the timing and
      manner of any resales by the Participant or other subsequent transfers by the
      Participant of any Shares issued under an Award, including without limitation
      (w) restrictions under an insider trading policy or pursuant to applicable
      law,
      (x) restrictions designed to delay and/or coordinate the timing and manner
      of
      sales by Participant and holders of other Company equity compensation
      arrangements, (y) restrictions as to the use of a specified brokerage firm
      for
      such resales or other transfers, and (z) provisions requiring Shares to be
      sold
      on the open market or to the Company in order to satisfy tax withholding or
      other obligations.

     

    14.      
      Change
      in
      Control

     

    (a) Impact
      of
      Event. Notwithstanding
      any
      other provision of the Plan to the contrary, unless otherwise provided in an
      Award Agreement, in the event of a Change in Control:

     

    
      
        
        

      

      
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    (1) any
      Options and
      Stock Appreciation Rights outstanding as of the date such Change in Control
      occurs, and which are not then exercisable and vested, shall become fully vested
      and exercisable;

     

    (2) restrictions
      applicable to any Restricted Stock outstanding as of the date of such Change
      in
      Control shall lapse, and such Restricted Stock shall become fully vested and
      transferable; and

     

    (3) restrictions
      applicable to any Restricted Stock Unit outstanding as of the date of such
      Change in Control shall lapse, and such Restricted Stock Unit shall be
      considered fully earned and payable and shall be settled in cash as promptly
      as
      is practicable following the Change in Control.

     

    Notwithstanding
      the
      foregoing, in no event shall the treatment specified in this
      Section 14(a)(1), (2) and (3) apply with respect to an Award
      prior to the earliest to occur of (A) the date such amounts would have been
      distributed in the absence of the Change in Control, (B) a Participant’s
“separation from service” (as defined under Section 409A of the Code) with
      the Company (or six months thereafter for “specified employees,” as such term is
      defined under Section 409A of the Code), (C) the Participant’s death or
“disability” (as defined in Section 409A(a)(2)(C) of the Code), or
      (D) a “change in the ownership or effective control” of the Company or in
      the “ownership of a substantial portion of the assets” of the Company within the
      meanings ascribed to such terms in Treasury Department regulations issued under
      Section 409A of the Code, if and to the extent that the Administrator
      determines, in its sole discretion, that the effect of such treatment prior
      to
      the time specified in this Section 14(a)(1), (2) or (3) would be the
      imposition of additional tax under Section 409A(a)(1)(B) of the Code on a
      Participant holding such Award.

     

    (b) Definition
      of
      Change in Control.
      For purposes of
      the Plan, a “Change
      in
      Control”
      shall mean the
      occurrence of any of the following events:

     

    (1)
Forty
      percent
      (40%) of the Company’s Shares Acquired by an Outsider.
      Any “person” (as
      such term is used in Sections 13(d) and 14(d) of the Exchange Act, other than
      (A) the Company or any Subsidiary or Affiliate, (B) any trustee or other
      fiduciary holding stock under an employee benefit plan of the Company or any
      Subsidiary or Affiliate, and (C) any corporation owned, directly or indirectly,
      by the stockholders of the Company in substantially the same proportions as
      their ownership of the Company’s stock) becomes the “beneficial owner” (as
      defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of more
      than forty percent (40%) of the Company’s then outstanding Shares;

     

    (2)
Members
      of the
      Board as of May 6, 2008 cease to constitute a majority of
      Directors.
      The following
      individuals cease for any reason to constitute a majority of the number of
      directors then serving on the Board: individuals who, on May 6, 2008,
      constituted the Board and any new director (other than a director whose initial
      assumption of office is in connection with an actual or threatened election
      contest, including but not limited to a consent solicitation, relating to the
      election of directors of the Company) whose appointment or election by the
      Board
      or nomination for election by the Company’s stockholders was approved or
      recommended by a vote of at least two-thirds (2/3) of the directors then still
      in office who either were directors on May 6, 2008 or whose appointment,
      election or nomination for election was previously so approved or
      recommended;

     

    
      
        
        

      

      
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    (3)
Merger
      or
      Consolidation.
      There is
      consummated a merger or consolidation of the Company or any Subsidiary or
      Affiliate with any other corporation or other entity in which the Company is
      not
      the continuing or surviving corporation or pursuant to which the Company’s
      Shares would be converted into cash or stock; provided, however, that the
      holders of the Company’s Shares immediately prior to the merger do not have the
      same proportionate ownership of the common stock of the surviving corporation
      immediately after such merger or consolidation;

     

    (4)
Complete
      Liquidation or Disposition of more than 75% of the Company’s
      Assets.
      The stockholders
      of the Company approve a plan of complete liquidation of the Company or there
      is
      consummated an agreement for the sale or disposition by the Company of assets
      having an aggregate book value at the time of such sale or disposition of more
      than seventy-five percent (75%) of the total book value of the Company’s assets
      on a consolidated basis (or any transaction having a similar effect), other
      than
      any such sale or disposition by the Company (including by way of spin-off or
      other distribution) to an entity, at least fifty percent (50%) of the combined
      voting power of the voting securities of which are owned immediately following
      such sale or disposition by stockholders of the Company in substantially the
      same proportions as their ownership of the Company immediately prior to such
      sale or disposition; or

     

    (5)
Disposition
      of
      a Business Unit.
      There is
      consummated the Disposition of a Business Unit; provided, however, that this
      clause (5) shall apply only to employees who (A) immediately prior to the
      Disposition of a Business Unit were employed by (and on the payroll of) the
      Business Unit that was the subject of the Disposition of a Business
      Unit.

     

    15.      
      Adjustment
      of and Changes in the Stock

     

    The
      number and kind
      of Shares available for issuance under this Plan and the number and kind of
      Shares subject to the individual limits set forth in Section 5 of this
      Plan, shall be equitably adjusted by the Administrator to reflect any
      reorganization, merger, consolidation, recapitalization, reclassification,
      stock
      split, reverse stock split, spin-off, repurchase, share exchange, dividend
      or
      distribution of stock, property or cash (other than regular, quarterly cash
      dividends), or any other event or transaction that affects the number or kind
      of
      Shares of the Company outstanding. The terms of any outstanding Award shall
      also
      be equitably adjusted by the Administrator as to price, number or kind of Shares
      subject to such Award and other terms to reflect the foregoing events, which
      adjustments need not be uniform as between different Awards or different types
      of Awards. No right to purchase fractional shares shall result from any
      adjustment in Awards pursuant to this Section 15. In case of any such
      adjustment, the Shares subject to the Award shall be rounded up to the nearest
      whole share. The Company shall notify Participants holding Awards subject to
      any
      adjustments pursuant to this Section 15 of such adjustment but, whether or
      not notice is given, such adjustment shall be effective and binding for all
      purposes of the Plan.

     

    16.      
      Qualifying
      Performance-Based Compensation

     

    
      
        
        

      

      
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    (a) General.
      The Administrator
      may establish performance criteria and level of achievement versus such criteria
      that shall determine the amount of cash or the number of Shares to be granted,
      retained, vested, issued or issuable under or in settlement of or the amount
      payable pursuant to an Award, which criteria may be based on Qualifying
      Performance Criteria or other standards of financial performance and/or personal
      performance evaluations. In addition, the Administrator may specify that an
      Award or a portion of an Award is intended to satisfy the requirements for
      “performance-based compensation” under Section 162(m) of the Code, provided
      that the performance criteria for such Award (other than Options or Stock
      Appreciation Rights) shall be based on one or more Qualifying Performance
      Criteria selected by the Administrator and specified in writing no later than
      ninety (90) days after the beginning of each performance period, or in the
      case
      of a performance period that is shorter than one (1) year, no later than the
      date that represents twenty-five percent (25%) of the number of days in such
      performance period. The Administrator also shall establish in writing the
      specific performance goals to be achieved and the formula pursuant to which
      the
      amount of the Award shall be determined based on the Qualifying Performance
      Criteria within the time period specified in the previous sentence. The
      Administrator shall certify (1) the extent to which any Qualifying Performance
      Criteria has been satisfied, and (2) the amount payable as a result thereof,
      prior to payment, settlement or vesting of any Award that is intended to satisfy
      the requirements for “performance-based compensation” under Section 162(m)
      of the Code, which amount shall not exceed $5,000,000 in any given year or,
      if
      applicable, other performance period. The Administrator shall impose any other
      restrictions necessary for such an Award to satisfy the requirements for
“performance-based compensation” under Section 162(m) of the Code.
      Notwithstanding satisfaction of any performance goals, the number of Shares
      issued under or the amount paid under an award may be reduced by the
      Administrator on the basis of such further considerations as the Administrator
      in its sole discretion shall determine. 

     

    (b) Qualifying
      Performance Criteria.
      For purposes of
      this Plan, Qualifying Performance Criteria shall mean any one or more of the
      following performance criteria, either individually, alternatively or in any
      combination, applied to either the Company as a whole or to a business unit,
      Subsidiary or Affiliate, either individually, alternatively or in any
      combination, and measured either annually or cumulatively over a period of
      years, on an absolute basis or relative to a pre-established target, to previous
      years’ results or to a designated comparison group, in each case as specified by
      the Administrator: revenues; net income; gross profit; operating profit;
      economic profit; net operating profit after taxes (NOPAT); earnings before
      interest, taxes, depreciation and amortization (EBITDA); earnings before
      interest and taxes (EBIT); net income, earnings or book value per share (basic
      or diluted); earnings from continuing operations; operating or profit margin;
      cash flow, operating cash flow or free cash flow or cash flow return on
      investment; stock price performance; economic value added; unit volume; return
      on revenues; return on assets or net assets; return on investment; return on
      equity; return on capital; net tangible assets or return on net tangible assets;
      asset quality; change in working capital; total stockholder return; cost
      targets, reductions or savings, productivity or efficiencies; strategic business
      criteria including but not limited to market share, geographic expansion,
      customer or employee satisfaction, human resources management, supervision
      of
      litigation, or information technology; achievement of environmental, health
      and
      safety goals of the Company or any Subsidiary or Affiliate; or any other
      objective and measurable criteria tied to the Company's performance. As
      determined by the Administrator, the Qualifying Performance Criteria may be
      expressed in terms of attaining a specified level of the particular criterion
      or
      the attainment of a percentage or a percentage increase or decrease in the
      particular criterion.

     

    (c) Adjustment
      to
      Qualifying Performance Criteria.
      To the extent
      consistent with Section 162(m) of the Code, the Administrator
      (1) shall appropriately adjust any evaluation of performance under a
      Qualifying Performance Criteria to eliminate the effects of charges for
      restructurings, discontinued operations, extraordinary items and all items
      of
      gain, loss or expense determined to be extraordinary or unusual in nature or
      related to the disposal of a segment of a business or related to a change in
      accounting principle all as determined in accordance with standards established
      by opinion No. 30 of the Accounting Principles Board or other applicable or
      successor accounting provisions, as well as the cumulative effect of accounting
      changes, in each case as determined in accordance with generally accepted
      accounting principles or identified in the Company’s financial statements, notes
      to the financial statements and/or in management’s discussion and analysis of
      financial condition and results of operations appearing in the Company’s annual
      report to stockholders for the applicable year, and (2) may appropriately adjust
      any evaluation of performance under a Qualifying Performance Criteria to exclude
      any of the following events that occur during a performance period: (A) asset
      write-downs; (B) litigation, claims, judgments or settlements; (C) the effect
      of
      changes in tax law or other such laws or provisions affecting reported results;
      (D) accruals for reorganization and restructuring programs; and (E) accruals
      of
      any amounts for payment under this Plan or any other compensation arrangement
      maintained by the Company.

     

    
      
        
        

      

      
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    17.      
      Transferability

     

    Awards
      may not be
      sold, transferred, pledged, assigned, or otherwise alienated or hypothecated
      by
      a Participant other than by will or the laws of descent and distribution, and
      each Option or Stock Appreciation Right shall
      be
      exercisable only by the Participant during his or her lifetime or by the
      Participant's guardian or legal representative in the event of the Participant's
      death or Disability. For the purposes of this Section 17, the transfer of an
      Award by a Participant to a trust created by the Participant for the benefit
      of
      the Participant or his or her family, which is revocable by the Participant
      at
      any time during his or her lifetime, and as to which the Participant is the
      sole
      trustee, will not be deemed to be a transfer. Notwithstanding the foregoing,
      to
      the extent permitted by the Administrator, the person to whom an Award is
      initially granted (the “Grantee”)
      may transfer all
      or a portion of any Award to (a) any “family member” of the Grantee (as such
      term is defined in Section 1(a)(5) of the General Instructions to Form S-8
      under the Securities Act of 1933, as amended), (b) to trusts solely for the
      exclusive benefit of such family members and to partnerships in which such
      family members and/or trusts are the only partners, or (c) any other person
      or
      entity determined by the Administrator in its discretion; provided that such
      Award is not an Incentive Stock Option and subsequent transfers of transferred
      Awards are prohibited except in accordance with this Section 17. After transfer
      of an Award pursuant to this Section 17, the Award shall continue to be subject
      to the same terms, conditions, and restrictions that were applicable immediately
      prior to the transfer. In addition, except to the extent specified otherwise
      in
      the Award Agreement, all vesting, exercisability and forfeiture provisions
      that
      are conditioned on the Grantee’s continued employment or service shall continue
      to be determined with reference to the Grantee’s employment or service (and not
      to the status of the transferee). The Administrator shall have no obligation
      to
      notify the transferee of events that may affect the exercisability or expiration
      of any Award, including the Grantee's termination of employment with the Company
      or any Subsidiary or Affiliate. Before any transfer becomes effective, the
      intended transferee (or his or her parent, legal guardians or agents) must
      execute an assumption agreement describing the rights and obligations of the
      intended transferee, including but not limited to who has the power to exercise
      the Award, who is responsible for any taxes in connection with an award, and
      to
      whom notices are to be delivered.

     

    18.      
      Compliance
      with Laws and Regulations

     

    This
      Plan, the
      grant, issuance, vesting, exercise and settlement of Awards thereunder, and
      the
      obligation of the Company to sell, issue or deliver Shares under such Awards,
      shall be subject to all applicable foreign, federal, state and local laws,
      rules
      and regulations, stock exchange rules and regulations, and to such approvals
      by
      any governmental or regulatory agency as may be required. The Company shall
      not
      be required to register in a Participant’s name or deliver any Shares prior to
      the completion of any registration or qualification of such shares under any
      foreign, federal, state or local law or any ruling or regulation of any
      government body which the Administrator shall determine to be necessary or
      advisable. To the extent the Company is unable to or the Administrator deems
      it
      infeasible to obtain authority from any regulatory body having jurisdiction,
      which authority is deemed by the Company’s counsel to be necessary to the lawful
      issuance and sale of any Shares hereunder, the Company or any Subsidiary or
      Affiliate shall be relieved of any liability with respect to the failure to
      issue or sell such Shares as to which such requisite authority shall not have
      been obtained. No Option or Stock Appreciation Right (to the extent exercisable
      for Shares) shall be exercisable and no Shares shall be issued and/or
      transferable under any other Award unless a registration statement with respect
      to the Shares underlying such Option is effective or the Company has determined
      that such registration is unnecessary. The period in which such Option or Stock
      Appreciation Right may be exercised may be tolled, as determined by the
      Administrator and permitted under applicable law, during any period for which
      the Company does not have an effective registration statement for the
      Shares.

     

    
      
        
        

      

      
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    In
      the event an Award is granted to or held by a Participant who is employed or
      providing services outside the United States, the Administrator may, in its
      sole
      discretion, modify the provisions of the Plan or of such Award as they pertain
      to such individual to comply with applicable foreign law or to recognize
      differences in local law, currency or tax policy. The Administrator may also
      impose conditions on the grant, issuance, exercise, vesting, settlement or
      retention of Awards in order to comply with such foreign law and/or to minimize
      the Company’s obligations with respect to tax equalization for Participants
      employed outside their home country.

     

    19.      
      Taxes
      and
      Withholding

     

    To
      the extent required by applicable federal, state, local or foreign law, a
      Participant shall be required to satisfy, in a manner satisfactory to the
      Company, any withholding tax obligation that arises by reason of an Option
      exercise, disposition of Shares issued under an Incentive Stock Option, the
      vesting of or settlement of an Award, an election pursuant to Section 83(b)
      of the Code or otherwise with respect to an Award. The Company or any Subsidiary
      or Affiliate shall not be required to issue Shares, make any payment or to
      recognize the transfer or disposition of Shares until such obligations are
      satisfied. The Administrator may provide for or permit these obligations to
      be
      satisfied through the sale of Shares and/or by having the Company withhold
      a
      portion of the Shares that otherwise would be issued to the Participant upon
      exercise of the Option or the vesting or settlement of an Award, or by tendering
      Shares previously acquired. If a Participant makes an election under Section
      83(b), within five (5) days after filing such election with the Internal Revenue
      Service, the Participant must notify the Company in writing of such
      election.

     

    20.      
      Administration
      of the Plan

     

    (a) Administrator
      of the Plan.
      The Plan shall be
      administered by the Administrator who shall be the Compensation Committee (the
      "Committee")
      of the Board,
      consisting of two or more independent directors (as determined in accordance
      with Section 303A.02 of the NYSE Listed Company Manual). With respect to an
      Award that is intended to satisfy the requirements for "performance-based
      compensation" under Section 162(m) of the Code, the Committee shall consist
      of two or more "outside directors" (as determined by Section 162(m) of the
      Code). The members of the Committee shall be appointed by and may be changed
      at
      any time in the discretion of the Board. Any power of the Administrator may
      also
      be exercised by the Board, except to the extent that the grant or exercise
      of
      such authority would cause any Award or transaction to become subject to (or
      lose an exemption under) the short-swing profit recovery provisions of
      Section 16 of the Securities Exchange Act of 1934 or cause an Award to not
      qualify for treatment as "performance-based compensation" under
      Section 162(m) of the Code. To the extent that any permitted action taken
      by the Board conflicts with action taken by the Administrator, the Board action
      shall control. In addition, the Committee may delegate any or all aspects of
      the
      day-to-day administration of the Plan to one or more officers or employees
      of
      the Company or any Subsidiary or Affiliate, and/or to one or more agents.

     

    
      
        
        

      

      
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    (b) Powers
      of
      Administrator.
      Subject to the
      provisions of this Plan, the Administrator shall be authorized and empowered
      to
      do all things that it determines to be necessary or appropriate in connection
      with the administration of this Plan, including, without limitation: (1) to
      prescribe, amend and rescind rules and regulations relating to this Plan and
      to
      define terms not otherwise defined herein; (2) to determine which persons are
      Participants, to which of such Participants, if any, Awards shall be granted
      hereunder and the timing of any such Awards; (3) to grant Awards to Participants
      and determine the terms and conditions thereof, including the number of Shares
      subject to Awards and the exercise or purchase price of such Shares and the
      circumstances under which Awards become exercisable or vested or are forfeited
      or expire, which terms may but need not be conditioned upon the passage of
      time,
      continued employment, the satisfaction of performance criteria, the occurrence
      of certain events, or other factors; (4) to establish and verify the extent
      of
      satisfaction of any performance goals or other conditions applicable to the
      grant, issuance, exercisability, vesting and/or ability to retain any Award;
      (5)
      to prescribe and amend the terms of the agreements or other documents evidencing
      Awards made under this Plan (which need not be identical) and the terms of
      or
      form of any document or notice required to be delivered to the Company by
      Participants under this Plan; (6) to determine whether and the extent to which
      adjustments shall be made pursuant to Section 15; (7) to interpret and
      construe this Plan, any rules and regulations under this Plan and the terms
      and
      conditions of any Award granted hereunder, and to make exceptions to any such
      provisions in good faith and for the benefit of the Company; and (8) to make
      all
      other determinations deemed necessary or advisable for the administration of
      this Plan.

     

    (c) Determinations
      by the Administrator.
      All decisions,
      determinations and interpretations by the Administrator regarding the Plan,
      any
      rules and regulations under the Plan and the terms and conditions of or
      operation of any Award granted hereunder, shall be final and binding on all
      Participants, beneficiaries, heirs, assigns or other persons holding or claiming
      rights under the Plan or any Award. The Administrator shall consider such
      factors as it deems relevant, in its sole and absolute discretion, to making
      such decisions, determinations and interpretations including, without
      limitation, the recommendations or advice of any officer or other employee
      of
      the Company and such attorneys, consultants and accountants as it may select.
      The Administrator shall not be liable for any determination or action taken
      in
      good faith with respect to the Plan or any Award granted hereunder.

     

    (d) Foreign
      Employees. In
      the event an
      Award is granted to a Participant who is employed or providing services outside
      the United States and who is not compensated from a payroll maintained in the
      United States, the Administrator may, in its sole discretion, modify the
      provisions of the Plan as they pertain to such individual to comply with
      applicable foreign law or to recognize differences in local law, currency or
      tax
      policy. The Administrator may also impose conditions on the exercise or vesting
      of Awards in order to minimize the Company’s obligations with respect to tax
      equalization for Participants on assignments outside their home
      country.

     

    
      
        
        

      

      
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    (e) Correction
      of
      Defects, Omissions, and Inconsistencies.
      The Administrator
      may correct any defect, supply any omission, or reconcile any inconsistency
      in
      any Award Agreement in the manner and to the extent it shall deem desirable
      to
      effectuate the purposes of the Plan and the related Award. 

     

    21.      
      Amendment
      of the Plan or Awards

     

    The
      Board or the
      Administrator may amend, alter or terminate this Plan or any agreement or other
      document evidencing an Award made under this Plan but, except as provided
      pursuant to the provisions of Section 15, no such amendment shall, without
      the approval of the stockholders of the Company:

     

    (a) increase
      the
      maximum number of Shares for which Awards may be granted under this
      Plan;

     

    (b) increase
      the
      maximum number of Shares for which Incentive Stock Options may be granted under
      this Plan;

     

    (c) increase
      the
      individual maximum limits in Section 5(c);

     

    (d) reduce
      the price at
      which Options may be granted below the price provided for in
      Section 6(b);

     

    (e) reduce
      the exercise
      price of outstanding Options;

     

    (f) extend
      the term of
      this Plan;

     

    (g) change
      the class of
      persons eligible to be Participants; or

     

    (h) otherwise
      amend the
      Plan in any manner requiring stockholder approval by law or under NYSE Euronext
      listing requirements.

     

    No
      amendment or alteration to the Plan or an Award or Award Agreement shall be
      made
      which would impair the rights of the holder of an Award, without such holder’s
      consent, provided that no such consent shall be required if the Administrator
      determines in its sole discretion and prior to the date of any Change in Control
      that such amendment or alteration either is required or advisable in order
      for
      the Company, the Plan or the Award to satisfy any law or regulation or to meet
      the requirements of or avoid adverse financial accounting consequences under
      any
      accounting standard.

     

    22.      
      No
      Liability of Company

     

    Neither
      the Company
      nor any Subsidiary or Affiliate which is in existence or hereafter comes into
      existence shall be liable to a Participant or any other person as to: (a) the
      non-issuance or sale of Shares as to which the Company has been unable to obtain
      from any regulatory body having the authority deemed by the Company’s counsel to
      be necessary to the lawful issuance and sale of any Shares hereunder, and (b)
      any tax consequence affecting any Participant or other person due to the
      receipt, exercise or settlement of any Award granted hereunder. Subject to
      Section 4 and this Section 22, this Plan and the benefits hereunder may be
      terminated at any time in the sole and exclusive discretion of the Board without
      giving rise to any liability on the part of the Company or any Subsidiary or
      Affiliate.

     

    
      
        
        

      

      
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    23.      
      Non-Exclusivity
      of Plan

     

    Neither
      the
      adoption of this Plan by the Board nor the submission of this Plan to the
      stockholders of the Company for approval shall be construed as creating any
      limitations on the power of the Board or the Administrator to adopt such other
      incentive arrangements as either may deem desirable, including without
      limitation, the granting of restricted stock or stock options otherwise than
      under this Plan or an arrangement not intended to qualify under Code
      Section 162(m), and such arrangements may be either generally applicable or
      applicable only in specific cases.

     

    24.      
      Governing
      Law

     

    This
      Plan and any
      agreements or other documents hereunder shall be interpreted and construed
      in
      accordance with the laws of Delaware and applicable federal law. Any reference
      in this Plan or in the agreement or other document evidencing any Awards to
      a
      provision of law or to a rule or regulation shall be deemed to include any
      successor law, rule or regulation of similar effect or
      applicability.

     

    25.      
      No
      Right to
      Employment, Reelection or Continued Service

     

    Nothing
      in this
      Plan or an Award Agreement shall interfere with or limit in any way the right
      of
      the Company or any Subsidiary or Affiliate to terminate any Participant’s
      employment, service on the Board or service for the Company at any time or
      for
      any reason not prohibited by law, nor shall this Plan or an Award itself confer
      upon any Participant any right to continue his or her employment or service
      for
      any specified period of time.

     

    26.      
      No
      Rights
      to Awards; No Stockholder Rights

     

    No
      Participant shall have any claim to be granted any Award under the Plan. There
      is no obligation for uniformity of treatment among Participants. Unless
      specifically provided for herein, a Participant or transferee of an Award shall
      have no rights as a stockholder with respect to any shares covered by the Award
      until the date of the issuance of a stock certificate to him or her for such
      shares.

     

    27.      
      Inclusion
      of Awards as Part of Mandatory Holdings

     

    The
      Board or the
      Administrator may establish policies or make such provisions as either deems
      necessary or appropriate relating to Awards or portions thereof that may be
      included as part of a Participant’s holdings for purposes of any stock ownership
      requirements implemented from time to time.

     

    28.      
      Termination
      of Prior Plans

     

    No
      Options or other Awards may be granted under the Prior Plans after the Effective
      Date of the Plan; provided, however, that all awards theretofore granted shall
      extend for the full stated terms pursuant to Prior Plans.

    
      
        
        

      

      
        Page
          21 of
          21Unassociated Document

    Exhibit
      4.1

    

    THIS
      WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE BEEN ACQUIRED
      FOR
      INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
      AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAW. THIS WARRANT AND SUCH
      SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE PLEDGED, TRANSFERRED OR
      HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR DELIVERY OF AN OPINION
      OF
      COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH
      OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE WITH THE
      ACT
      OR UNLESS SOLD IN FULL COMPLIANCE WITH RULE 144 UNDER THE ACT.

    

    VIOQUEST
      PHARMACEUTICALS, INC.

    

    Warrant
      for the Purchase of Shares of

    Common
      Stock

    

    
      	
              Issuance
                Date: March 14, 2008

            	
               

            
	
              No.
                2008-[       ]

            	
              ______
                Shares

            

    

    

    FOR
      VALUE
      RECEIVED, VIOQUEST PHARMACEUTICALS, INC., a Delaware corporation (the
      "Company"),
      hereby certifies that [________________], its designee or its permitted assigns
      is entitled to purchase from the Company, at any time or from time to time
      commencing on March 14, 2008 and prior to 5:00 P.M., New York City time,
      on March 14, 2013 (the “Exercise
      Period”),
      [________________] fully paid and non-assessable shares of common stock, $0.001
      par value per share, of the Company for a purchase price per share of
$1.00.
       Hereinafter,
      (i) said common stock, $0.001 par value per share, of the Company, is referred
      to as the
      "Common
      Stock";
      (ii)
      the shares of the Common Stock (subject to adjustment as set forth herein)
      purchasable hereunder or under any other Warrant (as hereinafter defined) are
      referred to as the "Warrant
      Shares";
      (iii)
      the aggregate purchase price payable for the Warrant Shares purchasable
      hereunder is referred to as the "Aggregate
      Warrant Price";
      (iv)
      the price payable (initially $[       ] per share
      subject to adjustment as set forth herein) for each of the Warrant Shares
      hereunder is referred to as the "Per
      Share Warrant Price";
      (v)
      this Warrant, all similar Warrants issued on the date hereof and all warrants
      hereafter issued in exchange or substitution for this Warrant or such similar
      Warrants are referred to as the "Warrants";
      (vi)
      the holder of this Warrant is referred to as the "Holder"
      and the
      holder of this Warrant and all other Warrants and Warrant Shares are referred
      to
      as the "Holders"
      and
      Holders of more than fifty percent (50%) of the Warrant Shares then issuable
      upon exercise of then outstanding Warrants are referred to as the "Majority
      of the Holders")
      and
      (vii) the then Current Market Price per share of the Common Stock (the
"Current
      Market Price")
      shall
      be deemed to be the last reported sale price of the Common Stock on the Trading
      Day (as defined below) immediately prior to such date or, in case no such
      reported sales take place on such day, the average of the last reported bid
      and
      asked prices of the Common Stock on such day, in either case on the principal
      national securities exchange on which the Common Stock is admitted to trading
      or
      listed, or if not listed or admitted to trading on any such exchange, the
      representative closing sale price of the Common Stock as reported by the Nasdaq
      Global Market or the Nasdaq Capital Market (collectively,
      “NASDAQ”),
      or
      other similar organization if NASDAQ is no longer reporting such information,
      or, if the Common Stock is not reported on NASDAQ, the per share sale price
      for
      the Common Stock in the over-the-counter market as reported by the OTC Bulletin
      Board or another over-the-counter market, or if not so available, the fair
      market value of the Common Stock as determined in good faith by the Company’s
      Board of Directors. A “Trading
      Day”
      shall
      mean any day on which shares of the Company’s Common Stock are sold on the
      respective exchange or over-the-counter market. The Aggregate Warrant Price
      is
      not subject to adjustment.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    This
      Warrant is one in a series of related warrants constituting in the aggregate
      Warrants to purchase 2,887,082 Warrant Shares, which were originally issued
      pursuant to a Subscription Agreement (the “Subscription
      Agreement”)
      between
      the Company and the investor named therein in connection with a private
      placement by the Company of its securities, as described in the Company’s
      Confidential Offering Memorandum dated February 28, 2008, as amended. By
      acceptance of this Warrant, the Holder agrees to comply with all applicable
      provisions of the Subscription Agreement.

    

    1. Exercise
      of Warrant.
      

    

    (a) This
      Warrant may be exercised in whole at any time, or in part from time to time,
      by
      the Holder during the Exercise Period:

    

    (i) by
      the
      surrender of this Warrant (with the subscription form at the end hereof duly
      executed) at the address set forth in subsection 10(a) hereof, together with
      proper payment of the Aggregate Warrant Price, or the proportionate part thereof
      if this Warrant is exercised in part, with payment for the Warrant Shares made
      by certified or official bank check payable to the order of, or wire transfer
      of
      immediately available funds to, the Company; or

    

    (ii) if
      at any
      time following the first anniversary of the Issuance Date the sale of the
      Warrant Shares by the Holder is not then registered under the Act pursuant
      to an
      effective registration statement, by the surrender of this Warrant (with the
      cashless exercise form at the end hereof duly executed) (a “Cashless
      Exercise”)
      at the
      address set forth in subsection 10(a) hereof. Such presentation and surrender
      shall be deemed a waiver of the Holder's obligation to pay the Aggregate Warrant
      Price, or the proportionate part thereof if this Warrant is exercised in part.
      In the event of a Cashless Exercise, the Holder shall exchange its Warrant
      for
      that number of Warrant Shares subject to such Cashless Exercise multiplied
      by a
      fraction, the numerator of which shall be the difference between the then
      Current Market Price and the Per Share Warrant Price, and the denominator of
      which shall be the then Current Market Price. For purposes of any computation
      under this subsection 1(a), the then Current Market Price shall be based on
      the
      Trading Day immediately preceding such Cashless Exercise.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    (b) If
      this
      Warrant is exercised in part, this Warrant must be exercised for a number of
      whole shares of the Common Stock and the Holder is entitled to receive a new
      Warrant covering the Warrant Shares that have not been exercised and setting
      forth the proportionate part of the Aggregate Warrant Price applicable to such
      Warrant Shares. Upon surrender of this Warrant in connection with the exercise
      of this Warrant pursuant to the terms hereof, the Company will (i) as soon
      as
      practicable but no later than three business days after the due exercise of
      this
      Warrant (the “Warrant
      Share Delivery Date”),
      issue
      a certificate or certificates in the name of the Holder for the largest number
      of whole shares of the Common Stock to which the Holder shall be entitled upon
      such exercise and, if this Warrant is exercised in whole, in lieu of any
      fractional share of the Common Stock to which the Holder shall be entitled,
      pay
      to the Holder cash in an amount equal to the fair value of such fractional
      share
      (determined in such reasonable manner as the Board of Directors of the Company
      shall determine), and (ii) deliver the other securities and properties
      receivable upon the exercise of this Warrant, or the proportionate part thereof,
      if this Warrant is exercised in part, pursuant to the provisions of this
      Warrant.

    

    (c) In
      addition to any other rights available to the Holder, if the Company fails
      to
      cause its transfer agent to transmit to the Holder a certificate or certificates
      representing the Warrant Shares pursuant to an exercise on or before the Warrant
      Share Delivery Date, and if after such date the Holder is required by its broker
      to purchase (in an open market transaction or otherwise) shares of Common Stock
      to deliver in satisfaction of a sale by the Holder of the Warrant Shares which
      the Holder anticipated receiving upon such exercise (a “Buy-In”),
      then
      the Company shall (1) pay in cash to the Holder the amount by which (x) the
      Holder’s total purchase price (including brokerage commissions, if any) for the
      shares of Common Stock so purchased exceeds (y) the amount obtained by
      multiplying (A) the number of Warrant Shares that the Company was required
      to
      deliver to the Holder in connection with the exercise at issue times (B) the
      price at which the sell order giving rise to such purchase obligation was
      executed, and (2) at the option of the Holder, either reinstate the portion
      of
      the Warrant and equivalent number of Warrant Shares for which such exercise
      was
      not honored or deliver to the Holder the number of shares of Common Stock that
      would have been issued had the Company timely complied with its exercise and
      delivery obligations hereunder. For example, if the Holder purchases Common
      Stock having a total purchase price of $11,000 to cover a Buy-In with respect
      to
      an attempted exercise of shares of Common Stock with an aggregate sale price
      giving rise to such purchase obligation of $10,000, under clause (1) of the
      immediately preceding sentence the Company shall be required to pay the Holder
      $1,000. The Holder shall provide the Company written notice indicating the
      amounts payable to the Holder in respect of the Buy-In, together with applicable
      confirmations and other evidence reasonably requested by the Company. Nothing
      herein shall limit a Holder’s right to pursue any other remedies available to it
      hereunder, at law or in equity including, without limitation, a decree of
      specific performance and/or injunctive relief with respect to the Company’s
      failure to timely deliver certificates representing shares of Common Stock
      upon
      exercise of the Warrant as required pursuant to the terms hereof.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    2. Reservation
      of Warrant Shares; Listing.
      

    

    The
      Company agrees that, prior to the expiration of this Warrant, the Company shall
      at all times (a) have authorized and in reserve, and shall keep available,
      solely for issuance and delivery upon the exercise of this Warrant, the shares
      of the Common Stock and other securities and properties as from time to time
      shall be receivable upon the exercise of this Warrant, free and clear of all
      restrictions on sale or transfer, other than under Federal or state securities
      laws, and free and clear of all preemptive rights and rights of first refusal
      and (b) if the Company hereafter lists its Common Stock on any national
      securities exchange or NASDAQ, use its commercially reasonable efforts to keep
      the Warrant Shares authorized for listing on such exchange upon notice of
      issuance.

    

    3. Certain
      Adjustments.
      

    (a) In
      case
      the Company shall hereafter (i) pay a dividend or make a distribution on its
      Common Stock in shares of Common Stock, (ii) subdivide its outstanding shares
      of
      Common Stock into a greater number of shares, (iii) combine or reverse-split
      its
      outstanding shares of Common Stock into a smaller number of shares or (iv)
      issue
      by reclassification of its Common Stock any shares of capital stock of the
      Company, then the Per Share Warrant Price and the number of Warrant Shares
      shall
      forthwith be proportionately decreased and increased, respectively, in the
      case
      of a subdivision, distribution or stock dividend, or proportionately increased
      and decreased, respectively, in the case of a combination or reverse stock
      split. The Aggregate Warrant Price payable for the then total number
      of
      Warrant
      Shares
      available for exercise under this Warrant shall remain the same. Adjustments
      made pursuant to this subsection 3(a) shall become effective on the record
      date
      in the case of a dividend or distribution, and shall become effective
      immediately after the effective date in the case of a subdivision, combination
      or reclassification. If such dividend, distribution, subdivision or combination
      is not consummated in full, the Per Share Warrant Price and Warrant Shares
      shall
      be readjusted accordingly.

    

    (b) In
      case
      of any capital reorganization or reclassification, or any consolidation or
      merger to which the Company is a party other than a merger or consolidation
      in
      which the Company is the continuing corporation, or in case of any sale or
      conveyance to another entity of all or substantially all of the assets of the
      Company, or in the case of any statutory exchange of securities with another
      corporation (including any exchange effected in connection with a merger of
      a
      third corporation into the Company but excluding any exchange of securities
      or
      merger with another corporation in which the Company is a continuing corporation
      and that does not result in any reclassification of or similar change in the
      Common Stock), the Holder of this Warrant shall have the right thereafter to
      receive on the exercise of this Warrant the kind and amount of securities,
      cash
      or other property which the Holder would have owned or have been entitled to
      receive immediately after such reorganization, reclassification, consolidation,
      merger, statutory exchange, sale or conveyance had this Warrant been exercised
      immediately prior to the effective date of such reorganization,
      reclassification, consolidation, merger, statutory exchange, sale or conveyance
      and in any such case, if necessary, appropriate adjustment shall be made in
      the
      application of the provisions set forth in this Section 3 with respect to the
      rights and interests thereafter of the Holder of this Warrant to the end that
      the provisions set forth in this Section 3 shall thereafter correspondingly
      be
      made applicable, as nearly as may reasonably be, in relation to any shares
      of
      stock or other securities or property thereafter deliverable on the exercise
      of
      this Warrant. The above provisions of this subsection 3(b) shall similarly
      apply
      to successive reorganizations, reclassifications, consolidations, mergers,
      statutory exchanges, sales or conveyances. The Company shall require the issuer
      of any shares of stock or other securities or property thereafter deliverable
      on
      the exercise of this Warrant to be responsible for all of the agreements and
      obligations of the Company hereunder. Notice of any such reorganization,
      reclassification, consolidation, merger, statutory exchange, sale or conveyance
      and of said provisions so proposed to be made, shall be mailed to the Holders
      of
      the Warrants not less than twenty (20) days prior to such event. A sale of
      all
      or substantially all of the assets of the Company for a consideration consisting
      primarily of securities shall be deemed a consolidation or merger for the
      foregoing purposes.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (c) No
      adjustment in the Per Share Warrant Price shall be required unless such
      adjustment would require an increase or decrease of at least $0.01 per share
      of
      Common Stock; provided,
      however,
      that
      any adjustments which by reason of this subsection 3(c) are not required to
      be
      made shall be carried forward and taken into account in any subsequent
      adjustment; provided,
      further,
      however, that adjustments shall be required and made in accordance with the
      provisions of this Section 3 (other than this subsection 3(c)) not later than
      such time as may be required in order to preserve the tax-free nature of a
      distribution, if any, to the Holder of this Warrant or Common Stock issuable
      upon the exercise hereof. All calculations under this Section 3 shall be made
      to
      the nearest cent or to the nearest 1/100th of a share, as the case may be.
      Anything in this Section 3 to the contrary notwithstanding, the Company shall
      be
      entitled to make such reductions in the Per Share Warrant Price, in addition
      to
      those required by this Section 3, as it in its discretion shall deem to be
      advisable in order that any stock dividend, subdivision of shares or
      distribution of rights to purchase stock or securities convertible or
      exchangeable for stock hereafter made by the Company to its stockholders shall
      not be taxable.

     

    (d) Whenever
      the Per Share Warrant Price or the number of Warrant Shares is adjusted as
      provided in this Section 3 and upon any modification of the rights of a Holder
      of Warrants in accordance with this Section 3, the Company shall promptly
      prepare a brief statement of the facts requiring such adjustment or modification
      and the manner of computing the same and cause copies of such certificate to
      be
      mailed to the Holders of the Warrants. The Company may, but shall not be
      obligated to unless requested by a Majority of the Holders, obtain, at its
      expense, a certificate of a firm of independent public accountants of recognized
      standing selected by the Board of Directors (who may be the regular auditors
      of
      the Company) setting forth the Per Share Warrant Price and the number of Warrant
      Shares in effect after such adjustment or the effect of such modification,
      a
      brief statement of the facts requiring such adjustment or modification and
      the
      manner of computing the same and cause copies of such certificate to be mailed
      to the Holders of the Warrants.

    

    (e) If
      the
      Board of Directors of the Company shall declare any dividend or other
      distribution with respect to the Common Stock other than a cash distribution
      out
      of earned surplus, the Company shall mail notice thereof to the Holders of
      the
      Warrants not less than ten (10) days prior to the record date fixed for
      determining stockholders entitled to participate in such dividend or other
      distribution.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (f) If,
      as a
      result of an adjustment made pursuant to this Section 3, the Holder of any
      Warrant thereafter surrendered for exercise shall become entitled to receive
      shares of two or more classes of capital stock or shares of Common Stock and
      other capital stock of the Company, the Board of Directors (whose determination
      shall be conclusive and shall be described in a written notice to the Holder
      of
      any Warrant promptly after such adjustment) shall determine, in good faith,
      the
      allocation of the adjusted Per Share Warrant Price between or among shares
      or
      such classes of capital stock or shares of Common Stock and other capital
      stock.

     

    (g) Upon
      the
      expiration of any rights, options, warrants or conversion privileges with
      respect to the issuance of which an adjustment to the Per Share Warrant Price
      had been made, if such option, right warrant or conversion shall not have been
      exercised, the number of Warrant Shares purchasable upon exercise of this
      Warrant, to the extent this Warrant has not then been exercised, shall, upon
      such expiration, be readjusted and shall thereafter be such as they would have
      been had they been originally adjusted (or had the original adjustment not
      been
      required, as the case may be) on the basis of (A) the fact that Common Stock,
      if
      any, actually issued or sold upon the exercise of such rights, options, warrants
      or conversion privileges, and (B) the fact that such shares of Common Stock,
      if
      any, were issued or sold for the consideration actually received by the Company
      upon such exercise plus the consideration, if any, actually received by the
      Company for the issuance, sale or grant of all such rights, options, warrants
      or
      conversion privileges whether or not exercised; provided,
      however,
      that no
      such readjustment shall have the effect of decreasing the number of Warrant
      Shares purchasable upon exercise of this Warrant by an amount in excess of
      the
      amount of the adjustment initially made in respect of the issuance, sale or
      grant of such rights, options, warrants or conversion privileges.

    

    (h) In
      case
      any event shall occur as to which the other provisions of this Section 3 are
      not
      strictly applicable but as to which the failure to make any adjustment would
      not
      fairly protect the purchase rights represented by this Warrant in accordance
      with the essential intent and principles of the adjustments set forth in this
      Section 3 then, in each such case, the Board of Directors of the Company shall
      in good faith determine the adjustment, if any, on a basis consistent with
      the
      essential intent and principles established herein, necessary to preserve the
      purchase rights represented by the Warrants. Upon such determination, the
      Company will promptly mail a copy thereof to the Holder of this Warrant and
      shall make the adjustments described therein.

    

    4. Fully
      Paid Stock; Taxes.
      The
      shares of the Common Stock represented by each and every certificate for Warrant
      Shares delivered on the exercise of this Warrant shall, subject to compliance
      by
      the Holder with the terms hereof, at the time of such delivery, be duly
      authorized, validly issued and outstanding, fully paid and nonassessable, and
      not subject to preemptive rights or rights of first refusal imposed by any
      agreement to which the Company is a party, and the Company will take all such
      actions as may be necessary to assure that the par value, if any, per share
      of
      the Common Stock is at all times equal to or less than the then Per Share
      Warrant Price. The Company shall pay, when due and payable, any and all Federal
      and state stamp, original issue or similar taxes which may be payable in respect
      of the issue of any Warrant Share or any certificate thereof to the extent
      required because of the issuance by the Company of such security.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    5. Registration
      Under Act.
      

    

    (a) The
      Holder shall have the right to participate in the registration rights granted
      to
      purchasers of the Securities (as defined in the Subscription Agreement) pursuant
      to Article 5 of the Subscription Agreement. By acceptance of this Warrant,
      the
      Holder agrees to comply with the provisions in Article 5 of the Subscription
      Agreement to the same extent as if it were a party thereto.

    

    (b) Until
      all
      of the Warrant Shares and any shares of Common Stock issuable thereunder have
      been sold under a Registration Statement or pursuant to Rule 144, so long as
      the
      Company’s Common Stock remains registered under the Act, the Company shall use
      its commercially reasonable efforts to file with the Securities and Exchange
      Commission all current reports and the information as may be necessary to enable
      the Holder to effect sales of its shares in reliance upon Rule 144 promulgated
      under the Act.

    

    6. Investment
      Intent; Limited Transferability. 

    

    (a) By
      accepting this Warrant, the Holder represents to the Company that it understands
      that this Warrant and any securities obtainable upon exercise of this Warrant
      have not been registered for sale under Federal or state securities laws and
      are
      being offered and sold to the Holder pursuant to one or more exemptions from
      the
      registration requirements of such securities laws. In the absence of an
      effective registration of such securities or an exemption therefrom, any
      certificates for such securities shall bear the legend set forth on the first
      page hereof. The Holder understands that it must bear the economic risk of
      its
      investment in this Warrant and any securities obtainable upon exercise of this
      Warrant for an indefinite period of time, as this Warrant and such securities
      have not been registered under Federal or state securities laws and therefore
      cannot be sold unless subsequently registered under such laws, unless an
      exemption from such registration is available. The Holder further represents
      to
      the Company, by accepting this Warrant, that it has full power and authority
      to
      accept this Warrant and make the representations set forth herein.

    

    (b) The
      Holder, by its acceptance of this Warrant, represents to the Company that it
      is
      acquiring this Warrant and will acquire any securities obtainable upon exercise
      of this Warrant for its own account for investment and not with a view to,
      or
      for sale in connection with, any distribution thereof in violation of the Act.
      The Holder agrees, by acceptance of this Warrant, that this Warrant and any
      such
      securities will not be sold or otherwise transferred unless (i) a registration
      statement with respect to such transfer is effective under the Act and any
      applicable state securities laws or (ii) such sale or transfer is made pursuant
      to one or more exemptions from the Act. 

    

    (c) In
      addition to the limitations set forth in Section 1 and in accordance with the
      legend on the first page hereof, this Warrant may not be sold, transferred,
      assigned or hypothecated by the Holder except in compliance with the provisions
      of the Act and the applicable state securities “blue sky” laws, and is so
      transferable only upon the books of the Company which it shall cause to be
      maintained for such purpose. The Company may treat the registered Holder of
      this
      Warrant as it appears on the Company's books at any time as the Holder for
      all
      purposes. The Company shall permit any Holder of a Warrant or its duly
      authorized attorney, upon written request during ordinary business hours, to
      inspect and copy or make extracts from its books showing the registered Holders
      of Warrant. All Warrants issued upon the transfer or assignment of this Warrant
      will be dated the same date as this Warrant, and all rights of the holder
      thereof shall be identical to those of the Holder unless, in each case,
      otherwise prohibited by applicable law.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    (d) The
      Holder has been afforded (i) the opportunity to ask such questions as it has
      deemed necessary of, and to receive answers from, representatives of the Company
      concerning the terms and conditions of the Warrants or the exercise of the
      Warrants; and (ii) the opportunity to request such additional information which
      the Company possesses or can acquire without unreasonable effort or
      expense.

    

    (e) The
      Holder did not (i) receive or review any advertisement, article, notice or
      other
      communication published in a newspaper or magazine or similar media or broadcast
      over television or radio, whether closed circuit, or generally available; or
      (ii) attend any seminar, meeting or investor or other conference whose attendees
      were, to such Holder’s knowledge, invited by any general solicitation or general
      advertising.

    

    (f) The
      Holder is an “accredited investor” within the meaning of Regulation D under the
      Act. Such Holder is acquiring the Warrants for its own account and not with
      a
      present view to, or for sale in connection with, any distribution thereof in
      violation of the registration requirements of the Act, without prejudice,
      however, to such Holder’s right, subject to the provisions of the Subscription
      Agreement and this Warrant, at all times to sell or otherwise dispose of all
      or
      any part of such Warrants and Warrant Shares.

    

    (g) Either
      by
      reason of such Holder’s business or financial experience or the business or
      financial experience of its professional advisors (who are unaffiliated with
      and
      who are not compensated by the Company or any affiliate, finder or selling
      agent
      of the Company, directly or indirectly), such Holder has the capacity to protect
      such Holder’s interests in connection with the transactions contemplated by this
      Warrant and the Subscription Agreement. The Holder, by its acceptance of this
      Warrant, represents to the Company that it is able to fend for itself, can
      bear
      the economic risk of its investment and has such knowledge and experience in
      financial or business matters that it is capable of evaluating the merits and
      risks of the investment in this Warrant. Holder also represents it has not
      been
      organized for the purpose of acquiring this Warrant.

     

    7. Optional
      Redemption. 

    

    (a) In
      the
      event that the closing price of the Common Stock for any twenty (20) consecutive
      Trading Days on the OTC Bulletin Board (or upon a national securities exchange
      or the NASDAQ, if then applicable) is at least $0.50 (subject to adjustment
      for
      any stock splits, combinations, or similar events with respect to the Common
      Stock after the original issuance date of this Warrant, as described in Section
      3 hereof), the Company shall be entitled to redeem all, but not less than all,
      of the Warrants at a per Warrant redemption price of $0.001, at any time after
      the completion of such twenty (20) consecutive Trading Day period by providing
      thirty (30) business days’ written notice to the Holders. The Holder agrees to
      return the certificate representing the redeemed Warrants to the Company upon
      their redemption (or evidence reasonably satisfactory to the Company of the
      loss, theft, destruction or mutilation of this Warrant in accordance with
      Section 8 hereof). 

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    (b) Notwithstanding
      Section 7(a) hereof, for so long as any Warrant Shares are not subject to a
      registration statement providing for the resale thereof under the Securities
      Act
      declared effective by the SEC or are not otherwise permitted to be immediately
      sold, in whole, pursuant to an exemption to registration without volume
      restrictions for such resale pursuant to Rule 144 of the Act, the Company shall
      not be entitled to exercise its redemption rights pursuant to Section 7(a)
      above.

    

    8. Loss,
      etc., of Warrant.
      Upon
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of this Warrant, and of indemnity reasonably
      satisfactory to the Company, if lost, stolen or destroyed, and upon surrender
      and cancellation of this Warrant, if mutilated, the Company shall execute and
      deliver to the Holder a new Warrant of like date, tenor and
      denomination.

    

    9. Warrant
      Holder Not Stockholder.
      This
      Warrant does not confer upon the Holder any right to vote on or consent to
      or
      receive notice as a stockholder of the Company, as such, in respect of any
      matters whatsoever, nor any other rights or liabilities as a stockholder, prior
      to the exercise hereof; this Warrant does, however, require certain notices
      to
      Holders as set forth herein.

    

    10. Communication.
      No
      notice or other communication under this Warrant shall be effective or deemed
      to
      have been given unless, the same is in writing and is mailed by first-class
      mail, postage prepaid, or via recognized overnight courier with confirmed
      receipt, addressed to:

    

    (a) the
      Company at VioQuest Pharmaceuticals, Inc., 180 Mount Airy Road, Suite 102,
      Basking Ridge, New Jersey 07920, Attn: President, or other such address as
      the
      Company has designated in writing to the Holder;
      or

    

    (b) the
      Holder at the address last
      furnished to the Company in writing by the Holder.

    

    11. Headings.
      The
      headings of this Warrant have been inserted as a matter of convenience and
      shall
      not affect the construction hereof.

    

    12. Applicable
      Law.
      This
      Warrant shall be governed by and construed in accordance with the law of the
      State of New York without giving effect to the principles of conflicts of law
      thereof.

    

    13. Amendment,
      Waiver, etc.
      Except
      as expressly provided herein, neither this Warrant nor any term hereof may
      be
      amended, waived, discharged or terminated other than by a written instrument
      signed by the party against whom enforcement of any such amendment, waiver,
      discharge or termination is sought; provided, however, that any provision hereof
      may be amended, waived, discharged or terminated upon the written consent of
      the
      Company and the Majority of the Holders and such amendment, waiver, discharge
      or
      termination shall be effective with respect to the Company and all
      Holders.

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF,
      the
      Company has caused this Warrant to be signed by the undersigned duly authorized
      officer, this ___ day of _________, 2008.

    

    
      	 	
              VIOQUEST
                PHARMACEUTICALS, INC.

            
	 	 
	 	
              By:

            	 
	 	
              Its:

            

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    

    SUBSCRIPTION

    

    To:
      VioQuest Pharmaceuticals, Inc. (the
      “Company”)

    

     

    The
      undersigned, pursuant to the provisions set forth in the attached Warrant
      (No. 2008-[       ]), hereby elects to
      purchase (check
      applicable box):

     

    q   
      o shares
      of
      the Common Stock of Company covered by such Warrant; or 

     

    
      q  o the
        maximum number of shares of Common Stock covered by such Warrant pursuant
        to the
        cashless exercise procedure set forth in
        subsection 1(a)(ii).

    

     

    The
      undersigned herewith makes payment of the full purchase price for such shares
      at
      the price per share provided for in such Warrant. Such payment takes the form
      of
(check
      applicable box or boxes):

     

    o $___________ 
      in
      lawful money of the United States; and/or

     

    
      q 
        o the
        cancellation of such number of Warrant Shares as is necessary, in accordance
        with the formula set forth in subsection 1(a)(ii), to exercise this Warrant
        with respect to the maximum number of Warrant Shares purchasable pursuant
        to the
        cashless exercise procedure set forth in subsection 1(a)(ii).

    

     

    
      	
              Dated:

            	 	 	
              Signature:

            	 
	 	 	 	 	 
	 	 	 	
              Address:

            	 
	 	 	 	 	 
	 	 	 	 	 

    

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    ASSIGNMENT

    

    FOR
      VALUE
      RECEIVED _______________ (“Assignor”) hereby sells, assigns and transfers unto
      ____________________ (“Transferee”) the foregoing Warrant and all rights
      evidenced thereby, and does irrevocably constitute and appoint
      _____________________, attorney, to transfer said Warrant on the books of
      VioQuest Pharmaceuticals, Inc. By acceptance of the foregoing Warrant,
      Transferee shall become a Holder under said Warrant and subject to the rights,
      obligations and representations of Holder set forth in said
      Warrant.

    

    
      	
              ASSIGNOR:

            	 
	 	 
	
              Dated:

            	 	 	
              Signature:

            	 
	 	 	 	 	 
	 	 	 	
              Address:

            	 
	 	 	 	 	 
	
              TRANSFEREE:

            	 	 	 
	 	 	 	 
	
              Dated:

            	 	 	
              Signature:

            	 
	 	 	 	 	 
	 	 	 	
              Address:

            	 

    

     

    PARTIAL
      ASSIGNMENT

    

    FOR
      VALUE
      RECEIVED _______________ (“Assignor”) hereby assigns and transfers unto
      ____________________ (“Transferee”) the right to purchase _______ shares of
      Common Stock, par value $0.001 per share, of VioQuest Pharmaceuticals, Inc.
      covered by the foregoing Warrant, and a proportionate part of said Warrant
      and
      the rights evidenced thereby, and does irrevocably constitute and appoint
      ____________________, attorney, to transfer such part of said Warrant on the
      books of VioQuest Pharmaceuticals, Inc. By acceptance of the proportionate
      part
      of foregoing Warrant, Transferee shall become a Holder under said proportionate
      part of said Warrant and subject to the rights, obligations and representations
      of Holder set forth in said Warrant.

    

    
      	
              ASSIGNOR:

            	 
	 	 
	
              Dated:

            	 	 	
              Signature:

            	 
	 	 	 	 	 
	 	 	 	
              Address:

            	 
	 	 	 	 	 
	
              TRANSFEREE:

            	 	 	 
	 	 	 	 
	
              Dated:

            	 	 	
              Signature:

            	 
	 	 	 	 	 
	 	 	 	
              Address:

            	 

    

     

    
      
        
        

      

      
        12

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