Document:

Exhibit 10.28

    
      

    

    

      Exhibit
        10.28

       

      JOINDER
        AGREEMENT

       

      THIS
        JOINDER IN SUBSIDIARY GUARANTY AND SECURITY AGREEMENT (this “Joinder”)
        is
        executed as of February 9, 2006 by Impart Media Advertising, Inc., a Nevada
        corporation (“Joining
        Party”),
        and
        delivered to Laurus Master Fund, Ltd., a Cayman Islands company (the
“Purchaser”). Except as otherwise defined herein, terms used herein and defined
        in the Security Agreement (as defined below) shall be used herein as therein
        defined.

       

      W I T N E S S E T H:

       

      WHEREAS,
        Impart Media Group, Inc, a Nevada corporation (the “Company”), certain
        Subsidiaries of the Company and the Purchaser, have entered into a Security
        Agreement, dated as of January 27, 2006 (as amended, modified or supplemented
        from time to time, the “Security
        Agreement”),
        providing for the issuance of the Note and the Warrant and the execution
        of the
        Ancillary Agreements referred to in the Security Agreement; and

       

      WHEREAS,
        the Joining Party is a direct or indirect Subsidiary of the Company and desires,
        or is required pursuant to the provisions of the Security Agreement, to become
        a
        Guarantor under the Subsidiary Guaranty and an Eligible Subsidiary under
        the
        Security Agreement; 

       

      NOW,
        THEREFORE, in consideration of the foregoing and other benefits accru-ing
        to the
        Joining Party, the receipt and sufficiency of which are hereby acknowledged,
        the
        Joining Party hereby makes the following representations and warranties to
        the
        Purchaser and hereby covenants and agrees with the Purchaser as
        follows:

       

      NOW,
        THEREFORE, the Joining Party agrees as follows:

       

      1.    By
        this
        Joinder, the Joining Party becomes (i) a Guarantor for all purposes under
        the
        Subsidiary Guaranty and (ii) an Eligible Subsidiary under the Security
        Agreement.

       

      2.    The
        Joining Party agrees that, upon its execution hereof, it will become a Guarantor
        under the Subsidiary Guaranty with respect to all Obligations (as defined
        in the
        Subsidiary Guaranty), and will be bound by all terms, condi-tions and duties
        applicable to a Guarantor under the Subsidiary Guaranty, the Security Agreement
        and the other Ancillary Agreements. Without limitation of the foregoing,
        and in
        furtherance thereof, the Joining Party unconditionally and irrevocably,
        guarantees the due and punctual payment and performance of all Obligations
        (on
        the same basis as the other Guarantors under the Subsidiary
        Guaranty).

       

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      

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        2

       

      3.    The
        Joining Party agrees that, upon its execution hereof, it will become an Eligible
        Subsidiary under, and as defined in, the Security Agreement, and will be
        bound
        by all terms, conditions and duties applicable to an Eligible Subsidiary
        under
        the Security Agreement. Without limitation of the foregoing and in furtherance
        thereof, as security for the due and punctual payment of the Obligations
        (as
        defined in the Security Agreement), the Joining Party hereby pledges,
        hypothecates, assigns, transfers, sets over and delivers to the Purchaser
        and
        grants to the Purchaser a security interest in all Collateral (as defined
        in the
        Security Agreement), if any, now owned or, to the extent provided in the
        Security Agreement, hereafter acquired by it.

       

      4.    In
        connection with the grant by the Joining Party, pursuant to paragraph 3 above,
        of a security interest in all of its right, title and interest in the Collateral
        (as defined in the Security Agreement) in favor of the Purchaser, the Joining
        Party (i) agrees to execute (if necessary) and deliver to the Purchaser such
        financ-ing statements, in form acceptable to the Purchaser, as the Purchaser
        may
        request or as are necessary or desirable in the opinion of the Purchaser
        to
        establish and maintain a valid, enforceable, first priority perfected security
        interest in the Collateral (as defined in the Security Agreement) owned by
        the
        Joining Party, (ii) authorizes the Purchaser to file any such financing
        statements without the signature of the Joining Party where permitted by
        law
        (such authorization includes a description of the Collateral as “all assets and
        all personal property, whether now owned and/or hereafter acquired” of the
        Joining Party all assets and all personal property, whether now owned and/or
        hereafter acquired” (or any substantially similar variation thereof)) and (iii)
        agrees to execute and deliver to the Purchaser assignments of United States
        trademarks, patents and copyrights (and the respective applications therefor)
        to
        the extent requested by the Purchaser. 

       

      5.    Without
        limiting the foregoing, the Joining Party hereby makes and under-takes, as
        the
        case may be, each covenant, representation and warranty made by, and as
        (i) each Guarantor pursuant to the Subsidiary Guaranty and (ii) each
        Eligible Subsidiary pursuant to the Security Agreement, in each case as of
        the
        date hereof (except to the extent any such representation or warranty relates
        solely to an earlier date in which case such repre-sen-ta-tion and warranty
        shall be true and correct as of such earlier date), and agrees to be bound
        by
        all covenants, agreements and obligations of a Guarantor and Eligible Subsidiary
        pursuant to the Subsidiary Guaranty and the Security Agreement, respectively,
        and all other Ancillary Agreements to which it is or becomes a
        party.

       

      6.    Each
        of
        Schedules 7(c), 12(b), 12(c), 12(n) and 12(aa) of the Security Agreement
        is
        hereby amended by supplementing such Schedule with the information for the
        Joining Party contained on Schedules 7(c), 12(b), 12(c) 12(n) and 12(aa)
        attached hereto as Annex
        I.
        Schedule A to the Stock Pledge Agreement is hereby amended by supplementing
        such
        Schedule with the information for the Joining Party contained on Schedule
        A
        attached hereto as Annex
        II.
        

       

      7.    This
        Joinder shall be binding upon the parties hereto and their respective successors
        and permitted assigns and shall inure to the benefit of and be enforce-able
        by
        each of the parties hereto and its successors and permitted assigns,
provided,
        however,
        the
        Joining Party may not assign any of its rights, obligations or interest
        hereunder or under the Security Agreement or any Ancillary Agreement without
        the
        prior written consent of the Purchaser or as otherwise permitted by the Security
        Agreement or any Ancillary Agreement. THIS
        JOINDER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY
        THE
        LAW OF THE STATE OF NEW YORK.
        This
        Joinder may be executed in any number of counterparts, each of which shall
        be an
        original, but all of which shall constitute one instrument. In the event
        that
        any provision of this Joinder shall prove to be invalid or unenforceable,
        such
        provi-sion shall be deemed to be sever-able from the other provi-sions of
        this
        Joinder which shall remain binding on all parties hereto.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Page
        3

       

      8.    From
        and
        after the execution and delivery hereof by the parties hereto, this Joinder
        shall constitute an “Ancillary Agreement” for all purposes of the Security
        Agreement and the Ancillary Agreements.

       

      9.    The
        effective date of this Joinder is February 28, 2006.

       

      *
        *
        *

       

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      

      Page
        4

       

      IN
        WITNESS WHEREOF, the Joining Party has caused this Joinder to be duly executed
        as of the date first above written.

       

      
        	 	
                IMPART
                  MEDIA ADVERTISING, INC.

              
	 	 
	 	
                By:

              	
                /s/Joseph
                  Martinez

              
	 	 	
                Name:
                  Joseph Martinez

              
	 	 	
                Title:
                  Chief Financial Officer

              

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Page
        5

       

      Accepted
        and Acknowledged by:

       

      LAURUS
        MASTER FUND, LTD.

      

       

      
        	
                By:

              	
                /s/David
                  Grin

              	 
	 	
                Name:
                  David Grin

              	 
	 	
                Title:
                  Director

              	 

      

      

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

Page
        6

       

      Solely
        with respect to the second sentence in Section 6 hereof, the undersigned
        hereby
        acknowledges and agrees as of the date first above written.

       

      
        	 	
                IMPART
                  MEDIA GROUP, INC.

              
	 	 
	 	
                By:

              	
                /s/Joseph
                  Martinez

              
	 	 	
                Name:
                  Joseph Martinez

              
	 	 	
                Title:
                  Chief Financial OfficerExhibit 10.29

    
      

    

     

    
      Exhibit
        10.29

      

      2006
        EQUITY INCENTIVE PLAN 

      OF
        IMPART
        MEDIA GROUP, INC.

      

      

      SECTION
        1. Introduction

      

      1.1   Purpose.
         The
        purpose of the 2006 Equity Incentive Plan (the “Plan”) is to advance and promote
        the interests of Impart Media Group, Inc. (the “Corporation”) and its
        Subsidiaries by providing employees, consultants and advisors of the Corporation
        or its Subsidiaries with an incentive to achieve corporate objectives, to
        attract and retain employees, consultants and advisors of outstanding competence
        and to provide such individuals with an equity interest in the Corporation
        through the acquisition of Common Stock and by providing for payments to
        such
        individuals based on the appreciation in value or value of such Common Stock.
        The Plan is intended to be construed as an employee benefit plan that satisfies
        the requirements for exemption from the restrictions of Section 16(b) of
        the
        Securities Exchange Act of 1934, as amended, pursuant to the applicable rules
        promulgated thereunder. 

      

      1.2    Definitions.
        The
        following definitions are applicable to the Plan:

      

      (a)    “Award”
        means Options, Restricted Stock, Stock Appreciation Rights (SARs) or any
        combination thereof, granted under the Plan.

      

      (b)    “Award
        Agreement” means the written agreement by which an Award shall be
        evidenced.

      

      (c)    “Beneficiary”
        means the beneficiary or beneficiaries designated in accordance with Section
        5.8
        hereof to receive the amount, if any, payable under the Plan upon the death
        of a
        Participant.

      

      (d)    “Board”
        means the Board of Directors of the Corporation.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      (e)    “Code”
        means the Internal Revenue Code of 1986, as amended from time to
        time.

      

      (f)    “Committee”
        means the committee appointed pursuant to Section 1.3 hereof or if no such
        Committee is appointed, the Board. 

      

      (g)    “Common
        Stock” means the common stock, $.001 par value per share, of the
        Corporation.

      

      (h)    “Corporation”
        means Impart Media Group, Inc.

      

      (i)    
“Effective
        Date” means March 1, 2006.

      

      (j)    “Eligible
        Individual” means any Key Employee, consultant or advisor of the Corporation or
        any Subsidiary. 

      

      (k)   “Exchange
        Act” means the Securities Exchange Act of 1934, as amended. References to a
        particular section of, or rule under, the Exchange Act include references
        to
        successor provisions.

      

      (l)    “Fair
        Market Value” shall
        be
        determined as of the last business day for which the prices or quotes discussed
        in this sentence are available prior to the Grant Date and shall mean the
        closing selling price per share on that date of the Common Stock on the
        principal national securities exchange on which the Common Stock is traded,
        if
        the Common Stock is then traded on a national securities exchange; or (ii)
        the
        closing selling price per share on that date of the Common Stock on the NASDAQ
        National Market List, if the Common Stock is not then traded on a national
        securities exchange; or (iii) the closing bid price per share last quoted
        on
        that date by an established quotation service for over-the-counter securities,
        if the Common Stock is not reported on the NASDAQ National Market
        List.

      
        
          
          

        

        
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      (m)    “Incentive
        Stock Option” means an Option to purchase Common Stock that qualifies as an
        incentive stock option within the meaning of Section 422 of the
        Code.

      

      (n)    “Immediate
        Family” means, with respect to a particular Participant, the Participant’s
        spouse, children and grandchildren.

      

      (o)    “Key
        Employee” means any employee of the Corporation or any of its Subsidiaries,
        including any officer or director who is also an employee, who, in the judgment
        of the Committee, is considered important to the future of the Corporation.
        Nothing shall limit the Board from designating all or substantially all
        employees as eligible for grants.

      

      (p)    “Mature
        Shares” means Shares for which the holder thereof has good title, free and clear
        of all liens and encumbrances, and which such holder either (i) has held
        for at
        least six (6) months or (ii) has purchased from the open market.

      

      (q)    “Non-qualified
        Stock Option” means an Option to purchase Common Stock that does not qualify as
        an Incentive Stock Option.

      

      (r)    “Option”
        means an Incentive Stock Option or a Non-qualified Stock Option granted under
        the Plan.

      

      (s)    “Option
        Price” means the purchase price per Share of an Option.

      

      (t)    “Option
        Term” means the period beginning on the Grant Date of an Option and ending on
        the expiration date of such Option, as specified in the Award Agreement for
        such
        Option and as may, in the discretion of the Committee, and consistent with
        the
        provisions of the Plan, be extended from time to time.

      

      (u)    “Participant”
        means an Eligible Individual who has been granted an Award or a Permitted
        Transferee.

      
        
          
          

        

        
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      (v)    “Permitted
        Transferee” means a person to whom an Award may be transferred or assigned in
        accordance with Section 5.8 hereof.

      

      (w)    “Plan”
        means the 2006 Equity Incentive Plan of Impart Media Group, Inc. as the same
        may
        be amended from time to time.

      

      (x)    
“Restricted
        Stock” means Shares which are subject to forfeiture if the Participant does not
        satisfy the Restrictions specified in the Award Agreement applicable to such
        Restricted Stock.

      

      (y)    “Restricted
        Period” means the period of time Restricted Stock are subject to the
        Restrictions specified in the Award Agreement applicable to such Restricted
        Stock.

      

      (z)    
“Restrictions”
        means those restrictions and conditions placed upon Restricted Stock as
        determined by the Board in accordance with Section 4.2 hereof.

      

      (aa)   “Rule
        16b-3” means Rule 16b-3 of the SEC under the Exchange Act, as amended from time
        to time, together with any successor rule.

      

      (bb)   “SEC”
        means the Securities and Exchange Commission.

      

      (cc)    “Section
        16 Participant” means a Participant who is subject to potential liability under
        Section 16(b) of the Exchange Act with respect to transactions involving
        equity
        securities of the Corporation.

      

      (dd)   “Share”
        means a share of Common Stock.

      

      (ee)   “Stock
        Appreciation Right” or “SAR” means a right granted under the Plan in connection
        with an Option, or separately, to receive the appreciation in value of
        Shares.

      

      (ff)    “Subsidiary”
        means, for purposes of grants of Incentive Stock Options, a corporation as
        defined in Section 424(f) of the Code (with the Corporation treated as the
        employer corporation for purposes of this definition) and, for all other
        purposes, a corporation or other entity with respect which the Corporation
        (i)
        owns, directly or indirectly, fifty percent (50%) or more of the then
        outstanding common stock in any corporation or (ii) has a fifty percent (50%)
        or
        more ownership interest in any other entity.

      
        
          
          

        

        
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      (gg)   “10%
        Owner” means a person who owns capital stock (including stock treated as owned
        under Section 424(d) of the Code) possessing more than ten percent (10%)
        of the
        combined voting power of all classes of capital stock of the Corporation
        or any
        Subsidiary where “voting power” means the combined voting power of the then
        outstanding securities of a corporation entitled to vote generally in the
        election of directors.

      

      1.3    Administration.
        The
        Plan shall be adminis-tered by the Committee, which, unless otherwise determined
        by the Board, shall consist of two or more directors of the Corporation,
        all of
        whom qualify as “Non Employee Directors” as defined in Rule 16b-3. The number of
        members of the Committee shall from time to time be increased or decreased,
        and
        shall be subject to such conditions, in each case as the Board deems appropriate
        to permit transactions in Shares pursuant to the Plan to satisfy such conditions
        of Rule 16b-3 as then in effect. In the event that the Compensation Committee
        of
        the Board (the “Compensation Committee) meets the requirements set forth in this
        Section 1.3 hereof, such Compensation Committee shall be the Committee hereunder
        unless otherwise determined by the Board. 

      

      A
        majority of the members of the Committee shall constitute a quorum. The
        Committee may act at a meeting, including a telephonic meeting, by action
        of a
        majority of the members present, or without a meeting by unanimous written
        consent.

      

      Subject
        to the express provisions of the Plan, the Committee shall have full and
        final
        authority and discretion as follows:

      

      (i)    to
        select
        the Participants from Eligible Individuals;

      
        
          
          

        

        
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      (ii)    to
        grant
        Options and/or Restricted Stock to Participants in such combination and in
        such
        amounts as it shall determine and to determine the terms and conditions
        applicable to each such Award, including the benefit payable under any SAR,
        and
        whether or not specific Awards shall be identifiable with other specific
        Awards,
        and if so whether they shall be exercisable cumulatively with, or alternatively
        to, such other specific Award;

      

      (iii)   to
        determine the amount, if any, that a Participant shall pay for Restricted
        Stock,
        the nature of the Restrictions applicable to the Restricted Stock, and the
        duration of the Restricted Period appli-cable to the Restricted
        Stock;

      

      (iv)   to
        determine the actual amount earned by each Participant with respect to such
        Awards, the terms and conditions of all Award Agreements (which need not
        be
        identical) and with the consent of the Participant, to amend any such Award
        Agreement at any time, among other things, to permit transfers of such Awards
        to
        the extent permitted by the Plan, except that consent of the Participant
        shall
        not be required for any amendment which (A) does not adversely affect the
        rights
        of the Participant or (B) is necessary or advisable (as determined by the
        Committee) to carry out the purpose of the Award as a result of any change
        in
        applicable law;

      

      (v)    to
        determine consistent with the Code whether an Option that is granted to a
        Participant is a Non-qualified Stock Option or an Incentive Stock Option,
        the
        number of Shares to be covered by each such Option and the time or times
        when
        and the manner in which each Option shall be exercisable;

      

      (vi)   to
        amend
        any Incentive Stock Option with the consent of the Participant so as to make
        it
        a Non-qualified Stock Option;

      

      (vii)         
        to
        cancel, with the consent of the Participant, any outstanding Award(s) and
        to
        grant new Award(s) in substitution therefor;

      

      (viii)        
        to
        grant
        a SAR in connection with the grant of an Option or separately;

      

      (ix)    to
        accelerate the exercisability (including exercisability within a period of
        less
        than one year after the Grant Date) of, and to accelerate or waive any or
        all of
        the terms and conditions applicable to, any Award or any group of Awards
        for any
        reason and at any time, including in connection with a termination of employment
        or consultancy;

      

      (x)    subject
        to the provisions of the Plan, to extend the time during which any Award
        or
        group of Awards may be exercised;

      

      (xi)    to
        treat
        all or any portion of any period during which a Participant is on military
        leave
        or on an approved leave of absence from the Corporation or a Subsidiary as
        a
        period of employment or service of such Participant by the Corporation or
        any
        Subsidiary for purposes of accrual of his or her rights under his or her
        Awards;

      
        
          
          

        

        
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      (xii)   to
        interpret the Plan and make all determinations necessary or advisable for
        the
        administration of the Plan including the establishment, amendment or revocation
        from time to time of guidelines or regulations for the administration of
        the
        Plan, to cause appropriate records to be established, and to take all other
        actions considered necessary or advisable for the administration of the Plan;
        and 

      

      (xiii)         
        to
        take
        any other action with respect to any matters relating to the Plan for which
        it
        is responsible.

      

      All
        decisions, actions or interpretations of the Committee on all matters relating
        to the Plan or any Award Agreement shall be final, binding and conclusive
        upon
        all parties. No member of the Committee shall be liable for any action or
        determination made in good faith with respect to the Plan or any
        Award.

      

      1.4    Participation.
        The
        Committee may, in its discretion, grant Awards to any Eligible Individual,
        whether or not he or she has previously received an Award. Participation
        in the
        Plan shall be limited to those Key Employees, consultants and advisors who
        have
        received written notification from the Committee, or from a person designated
        by
        the Committee, that they have been selected to participate in the Plan. No
        such
        Eligible Individuals shall at any time have the right to be a Participant
        unless
        selected by the Committee pursuant to the Plan. No Participant, having been
        granted an Award, shall have the right to an additional Award in the future
        unless such Award is granted by the Committee.

      

      1.5    Maximum
        number of Shares Available for Awards.
        Subject
        to adjustment in accordance with Section 5.2 hereof, the maximum number of
        Shares for which grants under the Plan shall be available is two million
        (2,000,000). In addition, the Committee shall have the authority, in its
        sole
        discretion, to grant additional Non--qualified Stock Options to a Participant
        who exercises an Option and pays the exercise price in Common Stock, in a
        quantity equal to the number of shares of Common Stock delivered to the
        Corporation upon such exercise. In the event any Awards granted under the
        Plan
        shall be forfeited, terminate or expire, the number of Shares subject to
        such
        Award, to the extent of any such forfeiture, termination or expiration, shall
        thereafter again be available for grant under the Plan. The Common Stock
        distributed under the Plan may be authorized and unissued shares, shares
        held in
        the treasury of the Corporation, or shares purchased on the open market by
        the
        Corporation (at such time or times and in such manner as it may determine).
        The
        Corporation shall be under no obligation to acquire Common Stock for
        distribution to Participants before such Common Stock is due and
        distributable.

      
        
          
          

        

        
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      1.6    General
        Conditions to Grants. The
        Grant
        Date of an Award shall be the date on which the Committee grants the Award
        or
        such later date as specified in advance by the Committee. All Awards shall
        be
        evidenced by an Award Agreement and any terms and conditions of an Award
        not set
        forth in the Plan shall be set forth in the Award Agreement related to that
        Award or in the Participant’s employment or other agreement with the Corporation
        or any Subsidiary.

      

      SECTION
        2. Options

      

      2.1    Awards
        of Options.
        Subject
        to the provisions of the Plan, the Committee shall determine and designate
        from
        time to time those Eligible Individuals to whom Incentive Stock Options or
        Non-qualified Stock Options, or both, shall be granted and the number of
        Shares
        to be granted to each such Eligible Individual; provided,
        however,
        that
        only Key Employees may receive Incentive Stock Options and the aggregate
        fair
        market value (determined at the time the Option is granted) of the shares
        with
        respect to which any incentive stock options are exercisable for the first
        time
        by any Key Employee during any calendar year under all incentive stock option
        plans of the Corporation and any Subsidiary shall not exceed one hundred
        thousand dollars ($100,000) or such other limit set forth in Section 422
        of the
        Code (the “Limitations of the Code”). If the aggregate fair market value of such
        shares exceeds the Limitations of the Code, the excess Shares will be treated
        as
        Non-qualified Options under this Plan. In reducing the number of Incentive
        Stock
        Options to meet the Limitations of the Code, the most recently granted Incentive
        Stock Options shall be reduced first. If a reduction of simultaneously granted
        Options is necessary to meet the Limitations of the Code, the Committee may
        designate which Shares are to be treated as Shares acquired pursuant to an
        Incentive Stock Option. In the event that any Incentive Stock Options granted
        under the Plan fail to meet the requirements for Incentive Stock Options
        as set
        forth in the Code, such Incentive Stock Options will be treated as Non-qualified
        Stock Options under the Plan. In determining the Eligible Individuals who
        will
        be granted Options under the Plan, the Committee may consider such individuals’
responsibilities, service, present and future value to the Corporation or
        any
        Subsidiary and other factors it considers relevant.

      
        
          
          

        

        
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      2.2    Terms
        and Conditions of Options.
        Except
        as otherwise provided in a Participant’s employment or other agreement with the
        Corporation or any Subsidiary or in an Award Agreement, each Option shall
        be
        subject to the following express terms and conditions and to such other terms
        and conditions as the Committee may deem appropriate as set forth in the
        Award
        Agreement or the Participant’s employment or other agreement with the
        Corporation or any Subsidiary:

      

      (a)    Option
        Term.
        Each
        Option shall expire on the tenth (10th)
        anniversary of the Grant Date (or in the case of an Incentive Stock Option
        granted to a 10% Owner, on the fifth (5th)
        anniversary of the Grant Date) or on such earlier date as may be specified
        in
        the Participant’s Award Agreement or employment or other agreement with the
        Corporation or any Subsidiary. The Committee may extend such Option Term;
        provided,
        however,
        that
        (i) such extension shall not in any way disqualify the Option as an Incentive
        Stock Option and (ii) the Option Term, including any such extensions, shall
        not
        exceed ten (10) years. 

      
        
          
          

        

        
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      (b)    Option
        Price.
        The
        Option Price per Share shall be determined by the Committee no later than
        the
        Grant Date of any Option; provided,
        however,
        (i) the
        Option Price shall not be less than the Fair Market Value of a Share on the
        Grant Date, and (ii) in the case of an Incentive Stock Option granted to
        a 10%
        Owner, the Option Price shall not be less than one hundred ten percent (110%)
        of
        the Fair Market Value of a Share on the Grant Date (but in no event less
        than
        the par value of a Share). 

      

      (c)    Exercise
        of Option.
        The
        exercisability of an Option shall be determined by the Committee. Subject
        to
        acceleration or early expiration as provided elsewhere in the Plan or in
        a
        Participant’s employment or other agreement with the Corporation or any
        Subsidiary, the vesting of any Option granted under the Plan shall be subject
        to
        the Participant remaining in the employ of or maintaining a consultancy with
        the
        Corporation or any of its Subsidiaries and shall vest (i) in five (5) equal
        installments of twenty percent (20%) of the amount granted, with the first
        installment vesting on the December 31st
        next
        following the Grant Date and each other installment vesting on each of the
        next
        four December 31st
        thereafter or (ii) in such other amounts over such period of time after the
        Grant Date as the Committee may designate. 

      

      (d)    Disqualifying
        Disposition.
        The
        Award Agreement shall require any Participant who is granted an Incentive
        Stock
        Option to notify the Corporation of any disposition of such Shares issued
        upon
        the exercise of such Incentive Stock Option under the circumstances described
        in
        Section 421(b) of the Code (relating to certain disqualifying dispositions)
        (a
“Disqualifying Disposition”, within ten (10) business days after such
        Disqualifying Disposition.

      
        
          
          

        

        
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      (e)     Payment
        of Purchase Price upon Exercise.
        The
        purchase price as to which an Option shall be exercised shall be paid to
        the
        Corporation at the time of exercise either (i) in cash, certified check or
        wire
        transfer, (ii) in such other consideration as the Committee deems appropriate,
        includ-ing, but not limited to, loans from the Corporation or a third party,
        (iii) subject to the approval of the Committee, in Mature Shares already
        owned
        by the Participant having a total fair market value, as determined by the
        Committee, equal to the purchase price, or a combination of cash and Mature
        Shares having a total fair market value, as so determined, equal to the purchase
        price, (iv) subject to the approval of the Committee, in its sole discretion,
        by
        delivering a properly executed exercise notice in a form approved by the
        Committee, together with an irrevocable notice of exercise and irrevocable
        instructions to a broker to promptly deliver to the Corporation the amount
        of
        applicable sale or loan proceeds sufficient to pay the purchase price for
        such
        Shares, together with the amount of federal, state and local withholding
        taxes
        payable by Participant by reason of such exercise, or (v) a combination of
        the
        foregoing.

      

      (f)     Exercise
        in the Event of Termination.
        Unless
        otherwise provided in a Participant’s employment or other agreement with the
        Corporation or any Subsidiary or Award Agreement, the following provisions
        shall
        apply upon termination of a Participant’s employment or consultancy with the
        Corporation or any Subsidiary:  

      

        
        (i)    Upon
        Termination For Any Reason Other Than Due to Death.
        If a
        Participant’s employment or consultancy with the Corporation or any Subsidiary
        shall terminate for any reason other than by reason of his or her death,
        such
        Participant may exercise his or her Options, to the extent that such Participant
        shall have been entitled to do so on the date of such termination, at any
        time,
        or from time to time, but not later than (x) the expiration date specified
        in
        Subsection 2.2(a) hereof or (y) three (3) months after the date of such
        termination, whichever date is earlier and any portion of any Option granted
        hereunder that is not vested and exercisable as of the date of the Participant’s
        termination of employment shall automatically expire and be forfeited as
        of such
        date of termination. 

      
        
          
          

        

        
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      (ii)    Upon
        Termination Due to Death.
        In the
        event a Participant’s employment or consultancy shall terminate by reason of his
        or her death, such Participant’s Beneficiary, heirs or estate may exercise his
        or her Options, to the extent that such Participant, if such Participant
        had not
        died, would have been entitled to do so within the calendar year following
        such
        Participant’s death, at any time, or from time to time, but not later than (x)
        the expiration date specified in Subsection 2.2(a) hereof or (y) one year
        after
        the date of death, whichever is earlier and any portion of any Option granted
        hereunder that would not have vested and been exercisable within the calendar
        year following such Participant’s death if such Participant had not died shall
        automatically expire and be forfeited as of the date of such Participant’s
        death.

      

      (g)    Transferability
        of Incentive Stock Options.
        No
        Incentive Stock Option granted under the Plan shall be transferable other
        than
        by will or by the laws of descent and distribution and during the lifetime
        of
        the Participant, shall be exercisable only by the Participant or his or her
        guardian or legal representative.

      

      (h)    Investment
        Representation.
        Each
        Award Agreement for an Option shall provide (or be deemed to provide) that,
        upon
        demand by the Committee for such a representation, the Participant (or any
        person acting under Subsection 2.2(e) hereof) shall deliver to the Committee,
        at
        the time of any exercise of an Option or portion thereof, a written
        representation that the Shares to be acquired upon such exercise are to be
        acquired for investment and not for resale or with a view to the distribution
        thereof. Upon such demand, delivery of such representation prior to the delivery
        of any Common Stock issued upon exercise of an Option and prior to the
        expiration of the Option Term shall be a condition precedent to the right
        of the
        Participant or such other person to purchase any Common Stock. In the event
        certificates for Common Stock are delivered under the Plan with respect to
        which
        such an investment representation has been obtained, the Committee may cause
        a
        legend or legends to be placed on such certificates to make appropriate
        reference to such representations and to restrict transfer in the absence
        of
        compliance with applicable federal or state securities laws.

      
        
          
          

        

        
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      (i)    Participants
        to Have No Rights as Shareholders.
        No
        Participant shall have any rights as a shareholder with respect to any Common
        Stock subject to his or her Option prior to the date of issuance to him or
        her
        of such Common Stock.

      

      (j)     Other
        Option Provisions.
        The
        Committee may require a Participant to agree, as a condition to receiving
        an
        Option under the Plan, that part or all of any Options previously granted
        to
        such Participant under the Plan or any prior plan of the Corporation be
        terminated.

      

      2.3   Exercise
        of Options. An
        Option
        shall be exercised by the delivery to the Corporation during the Option Term
        of
        (x) written notice of intent to purchase a specific number of Shares subject
        to
        the Option and (y) payment in full of the Option Price of such specific number
        of Shares.

      

      SECTION
        3. Stock Appreciation Rights

      

      3.1   Award
        of Stock Appreciation Rights. Subject
        to the provisions of the Plan, the Committee shall determine and designate
        from
        time to time those Eligible Individuals to whom SARs shall be granted and
        the
        number of Shares to be granted to each such Eligible Individual. When granted,
        SARS may, but need not, be identified with a specific Option (including any
        Option granted on or before the Grant Date of the SARs) in a number equal
        to or
        different from the number of SARs so granted. If SARs are identified with
        Shares
        subject to an Option, then, unless otherwise provided in the applicable Award
        Agreement, the Participant’s associated SARs shall terminate upon (x) the
        expiration, termination, forfeiture or cancellation of such Option, or (y)
        the
        exercise of such Option.

      

      3.2   Strike
        Price. 
        The
        strike price (“Strike Price”) of any SAR shall equal, for any SAR that is
        identified with an Option, the Option Price of such Option, or for any other
        SAR, 100% of the Fair Market Value of a Share on the Grant Date of such SAR;
        except that the Committee may (x) specify a higher Strike Price in the Award
        Agreement or (y) provide that the benefit payable upon exercise of any SAR
        shall
        not exceed a percentage of Fair Market Value of a Share on such Grant Date
        as
        the Committee shall specify.

      
        
          
          

        

        
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      3.3   Vesting
        of SARs. Unless
        otherwise specified in the applicable Award Agreement or in the Participant’s
        employment or other agreement with the Corporation or any Subsidiary, (x)
        each
        SAR not identified with any other Award shall become exercisable with respect
        to
        20% of the Shares subject thereto on each of the first five December
        31st
        following the Grant Date of such SAR or in such other amounts and over such
        other time period as may be determined by the Committee and (y) each SAR
        which
        is identified with any other Award shall become exercisable as and to the
        extent
        that the Option with which such SAR is identified may be exercised.

      

      3.4   Exercise
        of SARs. SARs
        shall be exercised by delivery to the Corporation of written notice of intent
        to
        exercise a specific number of SARs. Unless otherwise provided in the applicable
        Award Agreement or a Participant’s employment or other agreement with the
        Corporation or any Subsidiary, the exercise of SARs that are identified with
        Shares subject to an Option shall result in the cancellation or forfeiture
        of
        such Option, to the extent of such exercise and any such Shares so canceled
        or
        forfeited shall not thereafter again become available for grant under the
        Plan.
        The benefit for each SAR shall be equal to (x) the Fair Market Value of the
        Share on the date of such exercise, minus (y) the Strike Price of such SAR.
        Such
        benefit shall be payable in cash (subject to applicable withholding), except
        that the Committee may provide in the applicable Award Agreement that benefits
        may be paid wholly or partly in Shares.

      

      3.5   No
        Rights as Shareholders.
        No
        Participant shall have any rights as a shareholder with respect to any Common
        Stock subject to his or her SAR.

      
        
          
          

        

        
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      3.6   Exercise
        in the Event of Termination.
        Unless
        otherwise provided in a Participant’s employment or other agreement with the
        Corporation or any Subsidiary or Award Agreement, the following provisions
        shall
        apply upon termination of a Participant’s employment or consultancy with the
        Corporation or any Subsidiary:  

      

      (i)    Upon
        Termination For Any Reason Other Than Due to Death.
        If a
        Participant’s employment or consultancy with the Corporation or any Subsidiary
        shall terminate for any reason other than by reason of his or her death,
        such
        Participant may exercise his or her SARs, to the extent that such Participant
        shall have been entitled to do so on the date of such termination, at any
        time,
        or from time to time, but not later than (x) the expiration date specified
        in
        Subsection 2.2(a) hereof or (y) three (3) months after the date of such
        termination, whichever date is earlier and any SARs granted hereunder that
        are
        not vested and exercisable as of the date of the Participant’s termination of
        employment shall automatically expire and be forfeited as of such date of
        termination. 

      

      (ii)   Upon
        Termination Due to Death.
        In the
        event a Participant’s employment or consultancy shall terminate by reason of his
        or her death, such Participant’s Beneficiary, heirs or estate may exercise his
        or her SARs, to the extent that such Participant, if such Participant had
        not
        died, would have been entitled to do so within the calendar year following
        such
        Participant’s death, at any time, or from time to time, but not later than (x)
        the expiration date specified in Subsection 2.2(a) hereof or (y) one year
        after
        the date of death, whichever is earlier and any SARs granted hereunder that
        would not have vested and been exercisable within the calendar year following
        such Participant’s death if such Participant had not died shall automatically
        expire and be forfeited as of the date of such Participant’s death.

      

      SECTION
        4. Restricted Stock

      

      4.1    Awards
        of Restricted Stock.
        Restricted Stock awarded under this Plan shall be subject to certain
        Restrictions as provided below. All Restrictions imposed on any such Award
        of
        Restricted Stock shall be made by and at the discretion of the Committee,
        subject to the provisions of the Plan, and are binding on the Corporation
        and
        the Participants, their Beneficiaries and legal representatives.

      

      4.2    Restricted
        Period/Restrictions.
        At the
        time each Award of Restricted Stock is granted, the Committee (i) shall
        establish a Restricted Period within which Restricted Stock awarded to the
        Participants may not be sold, assigned, transferred, made subject to gift,
        or
        otherwise disposed of, mortgaged, pledged or otherwise encumbered, if any
        and
        (ii) may impose such other Restrictions on any Restricted Stock as it may
        deem
        advisable.

      
        
          
          

        

        
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      4.3    Rights
        as Stockholders.
        Except
        for the conditions outlined in Section 4.2 hereof, and the forfeiture conditions
        described in Section 4.5 hereof, each Participant shall have all rights of
        a
        holder of Common Stock, including the right to receive all dividends or other
        distributions made or paid in respect of such Shares and the right to vote
        such
        Shares at regular or special meetings of the stockholders of the
        Corporation.

      

      4.4    Delivery
        of Shares.
        The
        certificates for any Restricted Stock awarded to an Eligible Individual under
        the Plan shall be held (together with a stock power executed in blank by
        the
        Eligible Individual) in escrow by the Secretary of the Corporation under
        the
        Participant’s name in an account maintained by the Corporation until such Shares
        of Restricted Stock become nonforfeitable or are forfeited. At the conclusion
        of
        the Restricted Period or the expiration or attainment of such other Restrictions
        imposed on any Restricted Stock granted to a Participant, or upon the prior
        approval of the Committee as described in Section 4.5 hereof, and subject
        to the
        satisfaction of the Corporation’s withholding obligations described in Section
        5.8 hereof, certificates representing such Shares of Restricted Stock shall
        be
        delivered to the Participant, or the Beneficiary or legal representative
        of the
        Participant, free of the Restrictions set forth in the Award Agreement pursuant
        to Section 4.2 hereof.

      

      4.5    Termination
        of a Participant’ s Employment or Consultancy.
        Unless
        otherwise provided in the Award Agreement or in the Participant’s employment or
        other agreement with the Corporation or any Subsidiary, the following provisions
        shall apply upon termination of a Participant’s employment or consultancy with
        the Corporation or any Subsidiary:  

      
        
          
          

        

        
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      (i)    Upon
        Termination for any Reason other than Due to Death.
        If a
        Participant’s employment or consultancy with the Corporation or any Subsidiary
        is terminated, except termination due to death, all Restricted Stock awarded
        under the Plan which are then subject to a Restricted Period or other
        Restrictions will be forfeited and become the property of the Corporation
        on the
        date of such termination. However, the Committee may, if it, in its sole
        discretion, determines that the circumstances warrant such action, approve
        the
        release of all or any part of the Restricted Stock that would otherwise be
        forfeited pursuant to this Section, upon such conditions as it shall
        determine.

      

      (ii)   Upon
        Termination Due to Death.
        If a
        Participant’s employment or consultancy with the Corporation or a Subsidiary is
        terminated due to death, all Shares of Restricted Stock awarded under the
        Plan
        which are then subject to a Restricted Period or other Restrictions and which
        would have been released, if the Participant had not died, within the calendar
        year following the Participant’s death shall be released on the date of such
        termination as if with respect to such Shares the Restricted Period had ended
        and the other Restrictions had lapsed and certificates representing such
        Shares
        of Restricted Stock shall be delivered to the Participant’s Beneficiary or legal
        representative free from such Restrictions as soon as practicable following
        such
        termination and all other Shares of Restricted Stock that would not have
        been
        released, if the Participant had not died, within the calendar year following
        the Participant’s death will be forfeited and become the property of the
        Corporation on the date of such termination.

      

      

      4.6    Section
        83(b) Elections.
        A
        Participant who files an election permitted under Section 83(b) of the Code
        with
        the Internal Revenue Service to include the fair market value of any Restricted
        Stock in gross income while they are still subject to a Restricted Period
        or
        other Restrictions shall notify the Corporation of such election within ten
        (10)
        days of making such election and promptly furnish the Corporation with a
        copy of
        such election, together with the amount of any federal, state, local or other
        taxes required to be withheld to enable the Corporation to claim an income
        tax
        deduction with respect to such election.

      

      SECTION
        5. General Provisions

      

      5.1    General
        Creditor Status.
        Participants shall have no right, title or interest whatsoever in or to any
        investments which the Corporation may make to aid it in meeting its obligations
        under the Plan. Nothing contained in the Plan, and no action taken pursuant
        to
        its provisions, shall create or be con-strued to create a trust of any kind,
        or
        a fiduciary relationship between the Corporation and any Participant,
        Beneficiary, legal representative or any other person. To the extent that
        any
        per-son acquires a right to receive payments from the Corporation under the
        Plan, such right shall be no greater than the right of an unsecured general
        creditor of the Corporation. All payments to be made hereunder shall be paid
        from the general funds of the Corporation and no special or separate fund
        shall
        be established and no segregation of assets shall be made to assure payment
        of
        such amounts except as expressly set forth in the Plan; provided,
        however,
        that in
        its sole discretion, the Committee may authorize the creation of trusts or
        other
        arrangements to meet the obligations created under the Plan to deliver Common
        Stock or pay cash; provided,
        further,
        however,
        that,
        unless the Committee otherwise determines with the consent of the affected
        Participant, the existence of such trusts or other arrangements shall be
        consistent with the “unfunded” status of the Plan.

      
        
          
          

        

        
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      5.2    Certain
        Adjustments to Shares.
        In the
        event of any change in the Common Stock by reason of any stock divi-dend,
        recapitalization, reorganization, spin-off, split-off, merger, consolidation,
        stock split, reverse stock split, combination or exchange of shares, or any
        rights offer-ing to purchase Common Stock at a price substantially below
        fair
        market value, or of any similar change affecting the Common Stock of or by
        the
        Corporation, the number and kind of Shares available for Awards under the
        Plan
        and the number and kind of Shares subject to a Restricted Period or other
        Restric-tions or subject to Options in outstanding Awards and the Option
        Price
        or purchase price per Share thereof shall be appropriately adjusted consistent
        with such change in such manner as the Committee may deem equitable to prevent
        substantial dilution or enlargement of the rights granted to, or available
        for,
        the Participants hereunder. Any adjustment of an Incentive Stock Option pursuant
        to this Section shall be made only to the extent not constituting a
“modification” within the meaning of Section 424(h)(3) of the Code, unless the
        holder of such Option shall agree otherwise. The Committee shall give notice
        to
        each Participant of any adjustment made pursuant to this Section and, upon
        notice, such adjustment shall be effective and binding for all purposes of
        the
        Plan.

      
        
          
          

        

        
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      5.3    Successor
        Corporation.
        The
        obligations of the Corporation under the Plan shall be binding upon any
        successor corporation or organization resulting from the merger, consolidation
        or other reorganization of the Corporation, or upon any successor corporation
        or
        organization succeeding to substantially all of the assets and business of
        the
        Corporation. The Corporation agrees that it will make appropriate provision
        for
        the preservation of Participants’ rights under the Plan in any agreement or plan
        which it may enter into or adopt to effect any such merger, consolidation,
        reorganization or transfer of assets.

      

      5.4    No
        Claim or Right Under the Plan.
        Neither
        the Plan nor any action taken thereunder shall be construed as giving any
        employee, consultant or advisor any right to be retained in the employ of
        or by
        the Corporation.

      

      5.5    Awards
        Not Treated as Compensation Under Benefit Plans. 
        No Award
        shall be considered as compensation under any employee benefit plan of the
        Corporation, except as specifically provided in any such plan or as otherwise
        determined by the Board.

      

      5.6    Listing
        and Qualification of Common Stock.
        The
        Corporation, in its discretion, may postpone the issuance or delivery of
        Common
        Stock upon any exercise of an Option or pursuant to an Award of Restricted
        Stock
        until completion of such stock exchange listing or other qualification of
        such
        shares under any state or federal law, rule or regulation as the Corporation
        may
        consider appropriate, and may require any Participant, Beneficiary or legal
        representative to make such representations and furnish such information
        as it
        may consider appropriate in connection with the issuance or delivery of the
        shares in compliance with applicable laws, rules and
        regulations.

      
        
          
          

        

        
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      5.7    Withholding
        Taxes.
        The
        Corporation may make such provisions and take such steps as it may deem
        necessary or appropriate for the withholding of all federal, state and local
        taxes required by law to be withheld with respect to Awards granted pursuant
        to
        the Plan including, but not limited to (i) accepting a remittance from the
        Participant in cash, or in the Committee’s discretion in Mature Shares (ii)
        deducting the amount required to be withheld from any other amount then or
        thereafter payable by the Corporation or Subsidiary to a Participant,
        Beneficiary or legal representative or from any Shares due to the Participant
        under the Plan, (iii) requiring a Participant, Beneficiary or legal
        representative to pay to the Corporation the amount required to be withheld
        as a
        condition of releasing Common Stock or (iv) any combination of the foregoing.
        In
        addition, subject to such rules and regulations as the Committee shall from
        time
        to time establish, Participants shall be permitted to satisfy federal, state
        and
        local taxes, if any, imposed upon the payment of Awards in Common Stock at
        a
        rate up to such Participant’s maximum marginal tax rate with respect to each
        such tax by (i) irrevocably electing to have the Corporation deduct from
        the
        number of Shares otherwise deliverable in payment of an Award such number
        of
        Shares as shall have a value equal to the amount of tax to be withheld, (ii)
        delivering to the Corporation such portion of the Common Stock delivered
        in
        payment of the Award as shall have a value equal to the amount of tax to
        be
        withheld, or (iii) delivering to the Corporation such number of Mature Shares
        or
        combination of Mature Shares and cash as shall have a value equal to the
        amount
        of tax to be withheld.

      
        
          
          

        

        
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      5.8    Non-transferability/Designation
        and Change of Beneficiary.
        

      

      (a)    An
        Award
        granted hereunder shall not be assignable or transferable other than by will
        or
        by the laws of descent and distribution and may be exercised during the
        Participant’s lifetime only by the Participant or his or her guardian or legal
        representative, except that, subject to Section 2.2(f) hereof, in respect
        of
        Incentive Stock Options, a Participant may, if permitted by the Committee,
        in
        its discretion, transfer an Award, or any portion thereof, to one or more
        members of the Participant’s Immediate Family.

      

      (b)    Each
        Participant shall file with the Committee a written designation of one or
        more
        persons as the Beneficiary who shall be entitled to receive the amount, if
        any,
        payable under the Plan upon his or her death. A Participant may, from time
        to
        time, revoke or change his or her Beneficiary designation without the consent
        of
        any prior Beneficiary by filing a new designation with the Committee. The
        last
        such designation received by the Committee shall be controlling; provided,
        however,
        that no
        designation, or change or revocation thereof, shall be effective unless received
        by the Committee prior to the Participant’s death, and in no event shall it be
        effective as of a date prior to such receipt.

      

      5.9    Payments
        to Persons Other Than A Participant.
        If the
        Committee shall find that any person to whom any amount is payable under
        the
        Plan is unable to care for his or her affairs because of illness or accident,
        or
        is a minor, or has died, then any payment due to such person or his or her
        estate (unless a prior claim therefor has been made by a duly appointed legal
        representative), may, if the Committee so directs the Corporation, be paid
        to
        his or her spouse, a child, a relative, an institution maintaining or having
        custody of such person, or any other person deemed by the Committee to be
        a
        proper recipient on behalf of such person otherwise entitled to payment.
        Any
        such payment shall be a complete discharge of the liability of the Committee
        and
        the Corporation therefor.

      
        
          
          

        

        
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      5.10   No
        Liability of Committee Members.
        No
        member of the Committee shall be personally liable by reason of any con-tract
        or
        other instrument executed by such member or on his or her behalf in his or
        her
        capacity as a member of the Committee nor for any mistake of judgment made
        in
        good faith, and the Corporation shall indemnify and hold harmless each employee,
        officer or director of the Corporation to whom any duty or power relating
        to the
        administration or interpretation of the Plan may be allocated or delegated,
        against any cost or expense (including counsel fees) or liability (including
        any
        sum paid in settlement of a claim with the approval of the Board) arising
        out of
        any act or omission to act in connection with the Plan unless arising out
        of
        such person’s own fraud or bad faith. The indemnification provided for in this
        Section 5.10 shall be in addition to any rights of indemnification such
        Committee member has as a director or officer pursuant to law, under the
        Certificate of Incorporation or By-Laws of the Corporation.

      

      5.11   Amendment
        or Termination.
        Except
        as to matters that in the opinion of the Corporation’s legal counsel require
        stockholder approval, any provision of the Plan may be modified as to a
        Participant by an individual agreement approved by the Committee. The Board
        may,
        with prospective or retroactive effect, amend, suspend or terminate the Plan
        or
        any portion thereof at any time; provided,
        however,
        that
        (i) no amendment that would materially increase the cost of the Plan to the
        Corporation may be made by the Board without the approval of the stockholders
        of
        the Corporation and (ii) no amendment, suspension or termination of the Plan
        shall deprive any Participant of any rights to Awards previously made under
        the
        Plan without his or her written consent. Subject to earlier termination pursuant
        to the provisions of this Section, and unless the stockholders of the
        Corporation shall have approved an extension of the Plan beyond such
        date, the
        Plan
        shall terminate and no further Awards shall be made under the Plan after
        the
        tenth (10th)
        anniversary of the Effective Date of the Plan specified in Section 5.15
        hereof.

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

      

      5.12   Unfunded
        Plan.
        The
        Plan is intended to constitute an unfunded deferred compensation
        arrange-ment.

      

      5.13   Governing
        Law. The
        Plan
        shall be governed by and construed in accordance with the laws of the State
        of
        Delaware, without reference to the principles of conflicts of law
        thereof.

      

      5.14   Non-uniform
        Determinations. The
        Committee’s determinations under the Plan need not be uniform and may be made by
        the Committee selectively among persons who receive, or are eligible to receive,
        Awards whether or not such persons are similarly situated. Without limiting
        the
        generality of the foregoing, the Committee shall be entitled, to enter into
        non-uniform and selective Award Agreements as to (a) the identity of the
        Participant, (b) the terms and provisions of Awards, and (c) the treatment
        of
        termination of employment or consultancies.

      

      5.15   Effective
        Date.
        The
        Plan is effective March 1, 2006.

      

      5.16   No
        Illegal Transactions.
        The
        Plan
        and all Awards granted pursuant to it are subject to all applicable laws
        and
        regulations. Notwithstanding any provision of the Plan or any Award,
        Participants shall not be entitled to exercise or receive benefits under,
        any
        Award, and the Corporation shall not be obligated to deliver any Shares or
        deliver any benefits to a Participant, if such exercise or delivery would
        constitute a violation by the Participant or the Corporation of any applicable
        law or regulation.

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

      

      5.17   Severability.
         If
        any
        part of the Plan is declared by any court of governmental authority to be
        unlawful or invalid, such unlawfulness or invalidity shall not invalidate
        any
        other part of the Plan. Any Section or part of a Section so declared to be
        unlawful or invalid shall, if possible, be construed in manner which will
        give
        effect to the terms of such Section to the fullest extent possible while
        remaining lawful and valid.

       

       

      24

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