Document:

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                                                                    EXHIBIT 10.X

                              THE FINOVA GROUP INC.
                        SENIOR MANAGEMENT SEVERANCE PLAN
                              (Tier III Employees)

     1.   PURPOSE: To provide management continuity by inducing selected
Executives and Senior Managers ("Executives") to remain in the employ of The
FINOVA Group Inc. (the "Corporation") or one of its subsidiaries pending a
possible Change of Control of the Corporation.

     2.   OBJECTIVES: To ensure in the event of a possible Change of Control of
the Corporation, in addition to the Executive's regular duties, that he or she
may be available to be called upon to assist in the objective assessment of
such situations, to advise management and the Board of Directors ("Board") of
the Corporation as to whether such proposals would be in the best interests of
the Corporation and its shareholders or one of its subsidiaries, and to take
such other actions as management or the Board might determine reasonably
appropriate and in the best interests of the Corporation and its shareholders.

     3.   PARTICIPATION: Participation in this Plan will be limited to selected
Executives (each referred to herein as "Executive") whose importance to the
Corporation during such periods is deemed to warrant good and valuable special
consideration by the Chief Executive Officer of the Corporation. Each such
Executive's participation shall be evidenced by a certificate, letter or other
written evidence of participation in the Plan signed by the Chief Executive
Officer or the Senior Vice President -- Human Resources (a "Certificate")
issued by the Corporation substantially in the form attached hereto, each of
which is incorporated herein by reference as if set forth in its entirety. In
the event an Executive shall become ineligible hereunder, his or her
Certificate shall be surrendered promptly to the Corporation, but the failure
to surrender the Certificate shall not affect such ineligibility or the
inapplicability of this plan to such Executive.

     4.   DEFINITION OF CHANGE OF CONTROL: For purposes of this Plan, a "Change
of Control" shall mean any of the following events:

     (a)  The acquisition by an individual, entity or group (within the
          meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
          Act of 1934, as amended (the "Exchange Act")) (a "Person") of
          beneficial ownership (within the meaning of Rule 13d-3 promulgated
          under the Exchange Act) of 20% or more of either (i) the then
          outstanding shares of common stock of the Corporation (the
          "Outstanding Corporation Common Stock") or (ii) the combined voting
          power of the then outstanding voting securities of the Corporation
          entitled to vote generally in the election of directors (the
          "Outstanding Corporation Voting Securities"); provided, however,
          that for purposes of this subsection (a), the following acquisition
          shall not constitute a Change of Control: (i) any acquisition
          directly from the Corporation, (ii) any acquisition by the
          Corporation other than an acquisition by virtue of the exercise of a
          conversion privilege unless the security being so converted was
          itself acquired directly from the Corporation, (iii) any acquisition
          by any employee benefit plan (or related trust) sponsored or
          maintained by the Corporation or any corporation controlled by the
          Corporation or (iv) any acquisition by any corporation pursuant to a
          transaction which complies with clauses (i), (ii) and (iii) of
          subsection (c) of this Section 4; or

     (b)  individuals who, as of the date hereof, constitute the Board (the
          "Incumbent Board") cease for any reason to constitute at least a
          majority of the Board; provided, however, that any individual
          becoming a director subsequent to the date hereof whose election, or
          nomination for election by the Corporation's shareholders, was
          approved by a vote of at least a majority of the directors then
          comprising the Incumbent Board shall be considered as through such
          individual were a member of the Incumbent Board, but excluding, for
          this purpose, any such individual whose initial assumption of office
          occurs as a result of an actual or threatened election contest with
          respect to the election or removal of directors or other actual or
          threatened solicitation of proxies or consents by or on behalf of a
          Person other than the Board; or

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     (c)  approval by the shareholders of the Corporation of a reorganization,
          merger or consolidation or sale or other disposition of all or
          substantially all of the assets of the Corporation (a "Business
          Combination"), in each case, unless, following such Business
          Combination, (i) all or substantially all of the individuals and
          entities who were the beneficial owners, respectively, of the
          Outstanding Corporation Common Stock and Outstanding Corporation
          Voting Securities immediately prior to such Business Combination
          beneficially own, directly or indirectly, more than 60% of,
          respectively, the then outstanding shares of common stock and the
          combined voting power of the then outstanding voting securities
          entitled to vote generally in the election of directors, as the case
          may be, of the corporation resulting from such Business Combination
          (including, without limitation, a corporation which as a result of
          such transaction owns the Corporation or all or substantially all of
          the Corporation's assets either directly or through one or more
          subsidiaries) in substantially the same proportions as their
          ownership, immediately prior to such Business Combination of the
          Outstanding Corporation Common Stock and Outstanding Corporation
          Voting Securities, as the case may be, (ii) no Person (excluding any
          employee benefit plan (or related trust) of the Corporation or such
          corporation resulting from such Business Combination) beneficially
          owns, directly or indirectly, 20% or more of, respectively, the then
          outstanding shares of common stock of the corporation resulting from
          such Business Combination or the combined voting power of the then
          outstanding voting securities of such corporation except to the
          extent that such ownership existed prior to the Business Combination
          and (iii) at least a majority of the members of the board of
          directors of the corporation resulting from such Business
          Combination were members of the Incumbent Board at the time of the
          execution of the initial agreement, or of the action of the Board,
          providing for such Business Combination; or

     (d)  approval by the shareholders of the Corporation of a complete
          liquidation or dissolution of the Corporation; or

     (e)  consummation of a recapitalization of the Corporation or sale of
          equity securities which, in either event, results in the issuance
          to one Person of equity securities (whether common stock, preferred
          stock, or securities convertible into common stock or preferred
          stock) of the Corporation equal to or greater than 20% or more of
          the Outstanding Corporation Common Stock or the Outstanding
          Corporation Voting Securities. For purposes of this clause (e), that
          20% level will have been reached if:

                (i)   the price paid for the equity securities issued (or if
                      none, their fair market value) equals or exceeds 20% of
                      the fair market value of the Outstanding Corporation
                      Common Stock or the Outstanding Corporation Voting
                      Securities, whichever is less,

                (ii)  the number of shares of equity securities issued (or the
                      number to be issued after conversion into common or
                      preferred stock, if permitted by the terms of those
                      securities) equals or exceeds 20% of the number of the
                      Outstanding Corporation Common Stock or the Outstanding
                      Corporation Voting Securities, whichever is less, or

                (iii) the voting rights of the equity securities issued
                      (without regard to any conditions on the rights to vote
                      those securities and regardless of whether those
                      securities are voted together or as a separate class)
                      equals or exceeds 20% of the voting rights of the
                      Outstanding Corporation Common Stock or the Outstanding
                      Corporation Voting Securities, whichever is less.

          For purposes of this clause (e), options, warrants and similar
          rights shall not be deemed issued until the underlying securities
          are issued. Convertible debt securities, depositary shares [and
          other securities convertible into common or preferred securities]
          shall be deemed issued upon payment of the purchase price for those
          securities, regardless of whether those securities have been
          converted or are then-eligible to be converted into common or
          preferred stock.

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     5.   ADDITIONAL DEFINITIONS:

     (a)  For purposes of this Agreement, "Cause" shall mean:

          (i)   the willful and continued failure of the Executive to perform
                substantially the Executive's duties with the Corporation or
                one of its affiliates (other than any such failure resulting
                from incapacity due to physical or mental illness), after a
                written demand for substantial performance is delivered to the
                Executive by the Board or the Chief Executive Officer of the
                Corporation which specifically identifies the manner in which
                the Board or Chief Executive Officer believes that the
                Executive has not substantially performed the Executive's
                duties, or

          (ii)  the willful engaging by the Executive in illegal conduct or
                gross misconduct which is materially and demonstrably
                injurious to the Corporation. For purposes of this provision,
                no act or failure to act, on the part of the Executive, shall
                be considered "willful" unless it is done, or omitted to be
                done, by the Executive in bad faith or without reasonable
                belief that the Executive's action or omission was in the best
                interests of the Corporation. Any act, or failure to act, based
                upon authority given pursuant to a resolution duly adopted by
                the Board or upon the instructions of the Chief Executive
                Officer or a senior officer of the Corporation or based upon
                the advise of counsel for the Corporation shall be conclusively
                presumed to be done, or omitted to be done, by the Executive in
                good faith and in the best interests of the Corporation.

     (b)  For purposes of this Agreement, "Good Reason" shall mean:

          (i)   a reduction of 20% or more of the Executive's total cash
                compensation, where Executive's total cash compensation with
                                    ----------------------------------------
                FINOVA is the sum of (X) annual base salary, (Y) target
                ------
                Management Incentive Plan bonus, and (Z) target Performance
                Share Incentive Plan percentage level multiplied by the base
                salary, in each of (X), (Y), and (Z) as of the Change of
                Control, and Executive's total cash compensation after a Change
                             --------------------------------------------------
                of Control is the sum of (L) annual base salary, (M) target
                ----------
                annual cash incentive bonus, and (N) current annual value of
                participation in long-term cash incentive plans as determined
                by standard long-term cash incentive plan valuation methodology;

          (ii)  the Corporation's requiring the Executive to be based at any
                office or location more than 30 miles from that at which he
                was based immediately prior to the Change of Control;

          (iii) any failure by the Corporation to comply with and satisfy
                11(c) of this Agreement.

          For purposes of this plan, any good faith determination of "Good
Reason" made by the Executive shall be conclusive.

     6.   ELIGIBILITY FOR BENEFITS: Benefits as described in Section 7 shall be
paid only in the event Executive's employment with the Corporation or any of
its subsidiaries is terminated (a) involuntarily by the Corporation without
Cause (other than as a consequence of his death or disability, or of his
retirement at or after his normal retirement date under the Corporation's or a
subsidiary's retirement plan), or (b) by the Executive for Good Reason, in each
case, within twelve months after a Change of Control of the Corporation.

     7.   BENEFIT ENTITLEMENTS:

     (a)  LUMP SUM PAYMENT: On or before the Executive's last day of
          employment with the Corporation or any of its subsidiaries, the
          Corporation or the applicable subsidiary will pay to the Executive
          as additional compensation for services rendered a lump sum cash
          amount (subject to any applicable payroll or other taxes required to
          be withheld) equal to the sum of (i) his highest annual salary fixed
          during the period he was an employee of the Corporation or any of its

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          subsidiaries, plus (ii) the largest aggregate amount awarded to him
          in a year under the Corporation's Management Incentive Plan and any
          Performance Share Plan or similar short and long term cash incentive
          plans or arrangements providing for performance bonus payments
          during the preceding four years. Nothing in this section shall
          affect Executive's rights to receive salary, compensation, vacation
          and other benefits due for work performed through Executive's
          severance date.

     (b)  EMPLOYEE PLANS: The Executive's participation in health insurance
          plans provided to Executive by the Corporation, or the applicable
          subsidiary, if any, provided to the Executive prior to the Change of
          Control or his termination, shall be continued, or equivalent
          benefits provided, by the Corporation or the applicable subsidiary
          at no direct cost to the Executive for a period of one year from the
          date of termination (or until his death or normal retirement date,
          whichever is sooner). The Executive's participation in any
          applicable qualified or nonqualified retirement and/or pension plans
          and any deferred compensation or bonus plan of the Corporation or
          any of its subsidiaries, if any, shall continue only through the
          last day of employment. Any terminating distributions, vested rights
          and continuation provisions under all other plans shall be governed
          by the terms of the respective plans.

     8.   INDEMNIFICATION: If litigation is brought to enforce or interpret any
provision contained herein, the Corporation or applicable subsidiary, to the
extent permitted by applicable law and the Corporation's or subsidiaries'
Articles of Incorporation, as the case may be, shall indemnify the Executive
for his or her reasonable attorneys' fees and disbursements incurred in such
litigation, and hereby agrees to pay interest on any money judgment obtained by
the Executive calculated at the Citibank, N.A. prime interest rate in effect
from time to time from the date that payment(s) to him should have been made
under this Agreement until the date the payment(s) is made.

     9.   PAYMENT OBLIGATIONS ABSOLUTE: Except as expressly provided in Section
13 and 14, the Corporation's or subsidiary's obligation to pay the Executive
the benefits hereunder and to make the arrangements provided herein shall be
absolute and unconditional and shall not be affected by any circumstances,
including, without limitation, any set-off, counter-claim, recoupment, defense
or other right which the Corporation may have against him or anyone else. All
amounts payable by the Corporation or subsidiary hereunder shall be paid
without notice or demand. Each and every payment made hereunder shall be paid
without notice or demand. Each and every payment made hereunder by the
Corporation or subsidiary shall be final and the Corporation or subsidiary will
not seek to recover all or any part of such payment(s) from the Executive or
from whosoever may be entitled thereto, for any reason whatsoever. The
Executive shall not be obligated to seek other employment in mitigation of the
amounts payable or arrangements made under any provision of this Plan, and the
obtaining of any such other employment shall in no event effect any reduction
of the Corporation's or subsidiary's obligations to make the payments and
arrangements required to be made under this Plan. The Corporation or applicable
subsidiary may at the discretion of the Chief Executive Officer of the
Corporation enter into an irrevocable, third-party guarantee or similar
agreement with a bank or other institution with respect to the benefits payable
to an Executive hereunder, which would provide for the unconditional payment of
such benefits by such third-party upon presentment by an Executive of his or
her Certificate (and on such other conditions deemed necessary or desirable by
the Corporation) at some specified time after termination of employment. Such
third-party guarantor shall have no liability for improper payment if it
follows the instructions of the Corporation as provided in such Certificate and
other documents required to be presented under the agreement, unless the
Corporation, in a written notice, has previously advised such third-party
guarantor of the determination by its Board of Directors of ineligibility of
the Executive in accordance with Section 14.

     10.  CONTINUING OBLIGATIONS: The Executive shall retain in confidence any
confidential information known to him concerning the Corporation and its
subsidiaries and their respective businesses as long as such information is not
publicly disclosed, except as otherwise required by law.

<PAGE>

     11.  SUCCESSORS:

     (a)  This Agreement is personal to the Executive and without the prior
          written consent of the Corporation shall not be assignable by the
          Executive otherwise than by will or the laws of descent and
          distribution. This Agreement shall inure to the benefit of and be
          enforceable by the Executive's legal representatives.

     (b)  This Agreement shall inure to the benefit of and be binding upon the
          Corporation and its successors and assigns.

     (c)  The Corporation will require any successor (whether direct or
          indirect, by purchase, merger, consolidation or otherwise) to all
          or substantially all of the business and/or assets of the
          Corporation to assume expressly and agree to perform this Agreement
          in the same manner and to the same extent that the Corporation would
          be required to perform it if no such succession had taken place. As
          used in this Agreement, Corporation shall mean the Corporation as
          herein before defined and which assumes and agrees to perform this
          Agreement by operation of law, or otherwise.

     12.  SEVERABILITY: Any provision in this Plan which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective only to the extent of such prohibition or unenforceability without
invalidating or affecting the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

     13.  OTHER AGREEMENTS: Notwithstanding any provision herein to the
contrary, in the event the Executive's employment with the Corporation or
applicable subsidiary terminates and the Executive is entitled to receive
termination, separation or other like amounts from the Corporation or any of
its subsidiaries pursuant to any contract of employment, generally prevailing
separation pay policy, or other program of the Corporation or applicable
subsidiary, all such amounts shall be applied to and set off against the
Corporation's or applicable subsidiaries' obligation set forth in Section 7 of
this plan. Nothing in this Section 13 is intended to result in set-off of
salary, compensation, vacation and other benefits due Executive for work
performed through Executive's severance date, pension or Retirement Plan
benefits, disability benefits, retiree benefits, any pro-rata payment or
payments made to Executive in connection with a Change of Control under any
currently existing and unvested Management Incentive Plan or Performance Share
Incentive Plan, or any payment to Executive under the Corporation's Key
Employee Value Sharing Plan, if any, or any other plan benefits not directly
provided as termination or separation benefits.

     14.  TERMINATION: This Agreement shall terminate with respect to an
Executive if the Chief Executive Officer of the Corporation determines that the
Executive is no longer a key executive to be provided a severance agreement and
so notifies the Executive in writing at least thirty (30) days before
participation in this Plan shall cease; except that such determination shall
not be made, and if made shall have effect, (i) within twelve months after the
Change of Control in question or (ii) during any period of time when the
Corporation has knowledge that any third person has taken steps reasonably
calculated to effect a Change of Control until such third person has abandoned
or terminated his or her efforts to effect a Change of Control as determined by
such Board in good faith, but in its sole discretion.<PAGE>

                                                                   EXHIBIT 10.11
                                     FORM OF

                            DETWILER, MITCHELL & CO.

                             STOCK OPTION AGREEMENT

         (NOTE: The options granted hereunder are subject to approval by the
         stockholders of the Company)

         This certifies that, for value received, ________________("Option
Holder") shall have the right set forth herein (the "Option"), subject to the
terms and conditions set forth below, to purchase from DETWILER, MITCHELL & CO.
("DMC"), in whole or in part that number of fully paid and nonassessable shares
(the "Shares") of Common Stock of DMC set forth in Section I below and at a
purchase price per share (the "Exercise Price") set forth in Section I below.
The number, character and Exercise Price of such Shares are subject to
adjustment as provided in Section II(11) below and all references to "Shares"
and "Exercise Price" herein shall be deemed to include any such adjustment or
series of adjustments.

I.       GRANT INFORMATION.

Date of Grant:                           ___________________

Name of Option Holder:                   ___________________

Social Security Number:                  ___________________

Type of Option:                          Nonstatutory ("NSO")

Number of Shares of Common
Stock Covered by the Option:             ___________________

Exercise Price per Share:                ___________________

Vesting Start Date:                      ___________________

Vesting Schedule:
    Number of and Date Shares Vested:    ___________________
    Number of and Date Shares Vested:    ___________________
    Number of and Date Shares Vested:    ___________________

Expiration Date:                         Five Years After Date of Grant

                                      -1-

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II.  TERMS AND CONDITIONS

     1. Stockholder Approval. Your Option is effective immediately subject,
however, to the approval of the Option, the issuance of the shares underlying
the Option and this Agreement by the stockholders of DMC at or prior to the next
Annual Meeting of Stockholders.

     2. Vesting. Your Option vests during your Service on the dates specified in
the vesting schedule on the first page of this Stock Option Agreement. Vesting
will cease if your Service terminates for any reason.

     3. Service; Leaves of Absence. Your Service shall cease when you cease to
be actively employed by, or a consultant or adviser to DMC (or any subsidiary)
(the "Company"), as determined in the sole discretion of the DMC Board. For
purposes of your Option, your Service does not terminate when you go on a bona
fide leave of absence, that was approved by the Company in writing, if the terms
of the leave provide for continued service crediting, or when continued service
crediting is required by applicable law. Your Service terminates in any event
when the approved leave ends, unless you immediately return to active work. The
Company determines which leaves count toward Service, and when your Service
terminates for all purposes under this Agreement.

     4. Term of Option. Your Option expires on the fifth anniversary of the Date
of Grant, and will expire earlier if your Service terminates as follows:

           (a) Regular Termination. If your Service terminates for any reason
     except death or Disability, then your Option will expire at the close of
     business at Company headquarters on the date 30 days after your termination
     date. During that 30-day period, you may exercise that portion of your
     Option that was vested on the date that your Service terminated.

           (b) Cause. If your Service terminates for Cause or if you resign from
     your employment, your Option will expire immediately.

        For purposes of this Section, "Cause" means (i) your continued failure
     to perform substantially your duties as set by the Company at the date of
     this Agreement (other than as a result of sickness, accident or similar
     cause beyond your reasonable control) after your receipt of a written
     warning and have been given thirty (30) days to improve; (ii) willful and
     material misconduct, which is demonstrably and materially injurious to the
     Company or any of its subsidiaries, including willful and material failure
     to perform your duties as an officer or employee of the Company or any of
     its subsidiaries or a material breach of this Agreement; (iii) conviction
     of or plea of nolo contendere to a felony; and (iv) conviction of an act of
     fraud against, or the misappropriation of property belonging to, the
     Company or any of its subsidiaries, or any employee, customer, or supplier
     of the Company or any of its subsidiaries.

          (c) Death. If you die while in Service, then your Option will expire
     at the close of business at Company headquarters on the date six (6) months
     after the date of

                                      -2-

<PAGE>

         death. During that six-month period, your estate or heirs may exercise
         that portion of your Option that was vested on the date of death.

               (d) Disability. If your Service terminates because of your
         Disability, then your Option will expire at the close of business at
         Company headquarters on the date six (6) months after your termination
         date. During that six-month period, you may exercise that portion of
         your Option that was vested on the date of your Disability.

            "Disability" means that you are unable to engage in any substantial
         gainful activity by reason of any medically determinable physical or
         mental impairment.

         5. Exercise of Option.

               (a) Legal Restrictions. By signing this Agreement, you agree not
         to exercise this Option or sell any Common Stock acquired upon exercise
         of this Option at a time when applicable laws, regulations or Company
         or underwriter trading policies prohibit exercise or sale and to comply
         with any such laws, regulations or policies deemed applicable to such
         exercise or sale by counsel to the Company. In particular, the Company
         shall have the right to designate one or more periods of time, each of
         which shall not exceed 180 days in length, during which this Option
         shall not be exercisable if the Company determines (in its sole
         discretion) that such limitation on exercise could in any way
         facilitate a lessening of any restriction on transfer pursuant to the
         Securities Act with respect to any issuance of securities by the
         Company, facilitate the registration or qualification of any securities
         by the Company under the Securities Act or any state securities laws,
         or facilitate the perfection of any exemption from the registration or
         qualification requirements of the Securities Act for the issuance or
         transfer of any securities. Such limitation on exercise shall not alter
         the vesting schedule set forth in this Agreement other than to limit
         the periods during which this Option shall be exercisable.
         Notwithstanding the foregoing, if a limitation is imposed and such
         limitation would cause a forfeiture of your exercise right because your
         option would expire during such limitation period, then the vesting
         schedule and expiration date of your option shall be extended 30 days
         beyond the limitation period to allow for exercise of your option.

               (b) Method of Exercise. To exercise your Option, you must execute
         the Notice of Exercise, attached hereto as Exhibit A. You must submit
         this form, together with full payment, at the address given on the
         form. Your Notice of Exercise must specify how many shares you wish to
         purchase. Your Notice of Exercise will be effective when it is received
         by the Company. If someone else wants to exercise your Option after
         your death, that person must prove to the Company's satisfaction that
         he or she is entitled to do so.

               (c) Form of Payment. When you submit Exhibit A, you must include
         payment of the aggregate Exercise Price for the Common Stock you are
         purchasing. Payment may be made in one (or a combination) of the
         following forms.

            .  Your personal cheque, a cashier's cheque or a money order.

                                      -3-

<PAGE>

                  .        Shares of Common Stock which you have owned for six
                           months and which are surrendered to the Company. The
                           value of such Common Stock, determined as of the
                           effective date of the Option exercise, will be
                           applied to the Exercise Price.

                  .        To the extent that a public market for Common Stock
                           exists as determined by the Company, by delivery (on
                           a form approved by the Company) of an irrevocable
                           direction to a securities broker to sell Common Stock
                           and to deliver all or part of the sale proceeds to
                           the Company in payment of the aggregate Exercise
                           Price.

                  .        To the extent that a public market for Common Stock
                           exists as determined by the Company, by delivery (on
                           a form approved by the Company) of an irrevocable
                           direction to a securities broker or lender to pledge
                           Common Stock, as security for a loan, and to deliver
                           all or part of the loan proceeds to the Company in
                           payment of the aggregate Exercise Price.

                  .        Any other form of legal consideration approved by the
                           Board.

                           (d) Withholding Taxes. You will not be allowed to
         exercise your Option unless you make acceptable arrangements to pay any
         withholding or other taxes that may be due as a result of the exercise
         of, or other dealing in, the Option or the sale of Common Stock
         acquired upon exercise of your Option.

         6. Market Stand-Off. In connection with any underwritten public
offering by the Company of its equity securities pursuant to an effective
registration statement filed under the US Securities Act of 1933, you shall not,
directly or indirectly, engage in any transaction prohibited by the underwriter,
nor shall you sell, make any short sale of, contract to sell, transfer the
economic risk of ownership in, loan, charge, pledge, grant any option for the
purchase of, or otherwise dispose of or transfer for value or agree to engage in
any of the foregoing transactions with respect to any Shares without the prior
written consent of the Company or its underwriters, for such period of time
after the effective date of such registration statement as may be requested by
the Company or such underwriters. Such period of time shall not exceed one
hundred eighty (180) days and may be required by the underwriter as a condition
of the offering. By signing this Stock Option Agreement you agree to execute and
deliver such other agreements as may be reasonably requested by the Company or
the underwriter which are consistent with the foregoing or which are necessary
to give further effect thereto. To enforce the provisions of this Section 5, the
Company may impose stop-transfer instructions with respect to the Shares until
the end of the applicable stand-off period.

         7. Only Vested Shares Purchasable. You may not exercise your Option as
to any share before such share it is vested as provided in Section I above.

         8. Transfer of Option. Prior to your death, only you may exercise your
Option. You cannot transfer or assign your Option. For instance, you may not
sell your Option or use it as security for a loan. If you attempt to do any of
these things, your Option will immediately become invalid. You may, however,
dispose of your Option in your will.

                                      -4-

<PAGE>

         Regardless of any marital property settlement agreement, the Company is
not obligated to honor a notice of exercise from your spouse or former spouse,
nor is the Company obligated to recognize such individual's interest in your
Option in any other way.

         9. No Retention Rights. Your Option does not give you the right to be
retained by the Company (or any subsidiaries) in any capacity. The Company
reserves the right to terminate your Service at any time and for any reason.

         10. Stockholder Rights. You, or your estate or heirs, have no rights as
a Stockholder of the Company until a certificate for your Common Stock has been
issued. No adjustments are made for dividends or other rights if the applicable
record date occurs before your stock certificate is issued.

         11. Adjustments to Common Stock.

                     (a) Adjustments. In the event of a subdivision of the
         outstanding Shares, a declaration of a dividend payable in Shares, a
         declaration of a dividend payable in a form other than Shares in an
         amount that has a material effect on the price of Shares, a combination
         or consolidation of the outstanding Shares (by reclassification or
         otherwise) into a lesser number of Shares, a recapitalization, a
         spin-off or a similar occurrence, the Committee shall make such
         adjustments as it, in its sole discretion, deems appropriate in one or
         more of:

                     (1) The number of shares subject to the Option; or

                     (2) The Exercise Price under the outstanding Option.

Except as provided in this Section 11, you shall have no rights whatsoever as a
result of any issue by the Company of stock of any class or securities
convertible into stock of any class, any subdivision or consolidation of shares
of stock of any class, the payment of any stock dividend or any other increase
or decrease in the number of shares of stock of any class.

                     (b) Dissolution or Liquidation. To the extent not
         previously exercised, your Option shall terminate immediately prior to
         the dissolution or liquidation of the Company.

                     (c) Reorganizations. If the Company is a party to a merger
         or other reorganization, your Option shall be subject to the agreement
         of merger or reorganization. Such agreement shall provide for one or
         more of the following, in all cases without your consent being
         required:

                     (1) The continuation of the Option, if the Company is a
surviving corporation;

                     (2) The assumption of the outstanding Option by the
surviving corporation or its parent or subsidiary;

                                      -5-

<PAGE>

                     (3) The substitution by the surviving corporation or its
parent or subsidiary of its own awards for the Option; or

                     (4) Full exercisability and/or vesting and/or accelerated
expiration of the Option.

                     (d) Reservation of Rights. Except as provided in this
         Section 11, you shall have no rights by reason of any subdivision or
         consolidation of shares of stock of any class, the payment of any
         dividend or any other increase or decrease in the number of shares of
         stock of any class. Any issue by the Company of shares of stock of any
         class, or securities convertible into shares of stock of any class,
         shall not affect, and no adjustment by reason thereof shall be made
         with respect to, the number or Exercise Price of Shares subject to your
         Option. The grant of your Option shall not affect in any way the right
         or power of the Company to make adjustments, reclassifications,
         reorganizations or changes of its capital or business structure, to
         issue or sell any shares of stock of any class, to merge or consolidate
         or to dissolve, liquidate, sell or transfer all or any part of its
         business or assets.

         12. Applicable Law. This Agreement will be interpreted and enforced
under the laws of the state of Delaware.

         This Agreement and your Employment Agreement constitute the entire
understanding between you and the Company regarding your Option. Any prior
agreements, commitments or negotiations concerning your Option are superseded.

         By signing below, you agree to all of the terms and conditions
         described in this Stock Option Agreement, including the attached Notice
         of Exercise.

Option Holder:__________________________________________________________________
                                   (Signature)

Company:________________________________________________________________________
                                   (Signature)

Title: Chairman and Chief Executive Officer
       -------------------------------------------------------------------------

                                      -6-

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