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                               EXHIBIT 10.3(e)(ii)
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                                OGDEN CORPORATION
                            RESTRICTED STOCK PLAN FOR
                             NON-EMPLOYEE DIRECTORS

                                 INTRODUCTION

     The purpose of this Plan is to enhance the profitability and value of the
Company for the benefit of its stockholders by enabling the Company to
automatically grant Restricted Stock to Non-Employee Directors with respect to
fifty percent (50%) of their Retainer Fees and fifty percent (50%) of their
Meeting Fees, thereby creating a means to raise the level of stock ownership by
Non-Employee Directors in order to attract, retain and reward such individuals
and strengthen the mutuality of interests between such individuals and the
Company's stockholders.

                                    ARTICLE I

                                   DEFINITIONS

     For purposes of this Plan, the following terms shall have the following
meanings:

     I.1 "BOARD" shall mean the Board of Directors of the Company.

     I.2 "CAUSE" shall mean (with regard to a Non-Employee Director's
Termination of Directorship) an act or failure to act that constitutes cause for
removal of a director under applicable Delaware law.

     I.3 "CHANGE IN CONTROL" shall have the meaning set forth in Article VII.

     I.4 "CODE" shall mean the Internal Revenue Code of 1986, as amended.

     I.5 "COMMON STOCK" shall mean the common stock, $.50 par value per share,
of the Company.

     I.6 "COMPANY" shall mean Ogden Corporation and any successor by merger,
consolidation or otherwise.

     I.7 "DISABILITY" shall mean the inability of the Non-Employee Director to
perform his material duties as a director of the Company due to a physical or
mental injury, infirmity or incapacity for one hundred eighty (180) consecutive
days. The existence or nonexistence of a Disability shall be determined by a
physician agreed in good faith to by the Non-Employee Director and the Board.

     I.8 "EFFECTIVE DATE" shall mean February 17, 2000.

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     I.9 "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934, as
amended.

     I.10 "FAIR MARKET VALUE" shall mean, on any date, (i) the closing price of
a share of Common Stock as reported on the principal securities exchange on
which shares of Common Stock are then listed or admitted to trading or (ii) if
not so reported, the average of the closing bid and ask prices on such date as
reported on the Nasdaq Stock Market, Inc. or (iii) if not so reported, as
furnished by any member of the National Association of Securities Dealers, Inc.
selected by the Board. In the event that the price of a share of Common Stock
shall not be so reported, the Fair Market Value of a share of Common Stock shall
be determined by a qualified appraiser selected by the Board. Notwithstanding
anything herein to the contrary, the fair market value of a share of Common
Stock on any date means the price for Common Stock set by the Board in good
faith based on reasonable methods set forth under Section 422 of the Code and
the regulations thereunder including, without limitation, a method utilizing the
average prices of the Common Stock reported on the principal national securities
exchange on which it is then traded on the Nasdaq Stock Market, Inc. during a
reasonable period designated by the Board.

     I.11 "MEETING FEE(S)" shall mean any fees to which a Non-Employee Director
is entitled for attending Board meetings (including by telephonic means) or for
attending the meetings of any Board committee (including by telephonic means) of
which the Non-Employee Director is a member. Meeting Fees shall not include
expense reimbursements, amounts realized upon the exercise of a stock option,
Restricted Stock or any other amounts paid to the Non-Employee Director.

     I.12 "NON-EMPLOYEE DIRECTOR" shall mean any non-employee director of the
Company who is not an employee of the Company.

     I.13 "PLAN" shall mean the Ogden Corporation Restricted Stock Plan for
Non-Employee Directors.

     I.14 "RESTRICTED STOCK" shall mean an award of shares of Common Stock under
the Plan that is subject to restrictions under Article V.

     I.15 "RESTRICTION PERIOD" shall have the meaning set forth in Subsection
5.3(a).

     I.16 "RETAINER FEE(S)" shall mean the fee to which a Non-Employee Director
is entitled for service on the Board as a director during a fiscal year of the
Company. Retainer Fees shall not include expense reimbursements, amounts
realized upon the exercise of a stock option, Restricted Stock or any other
amounts paid to the Non-Employee Director.

     I.17 "RULE 16b-3" shall mean Rule 16b-3 under Section 16(b) of the Exchange
Act as then in effect or any successor provisions.

     I.18 "TERMINATION OF DIRECTORSHIP" shall mean that the Non-Employee
Director is has ceased to be a director (whether as a non-employee director or
an employee director) of the Company.

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     I.19 "TRANSFER" or "TRANSFERRED" shall mean anticipate, alienate, attach,
sell, assign, pledge, encumber, charge or otherwise transfer.

                                   ARTICLE II

                                 ADMINISTRATION

     II.1 THE BOARD. The Plan shall be administered and interpreted by the
Board.

     II.2 AWARDS OF RESTRICTED STOCK. The Board shall have full authority to
interpret the Plan and to decide any questions and settle all controversies and
disputes that may arise in connection with the Plan; to establish, amend and
rescind rules for carrying out the Plan; to administer the Plan, subject to its
provisions; to prescribe the form or forms of instruments evidencing awards of
Restricted Stock and any other instruments required under the Plan and to change
such forms from time to time; and to make all other determinations and to take
all such steps in connection with the Plan and the awards of Restricted Stock as
the Board, in its sole discretion, deems necessary or desirable, including the
delegation of its administrative responsibilities.

     II.3 GUIDELINES. The Board may correct any defect, supply any omission or
reconcile any inconsistency in this Plan or in any agreement relating thereto in
the manner and to the extent it shall deem necessary to carry this Plan into
effect but only to the extent any such action would be permitted under the
applicable provisions of Rule 16b-3. The Board may adopt special guidelines and
provisions for persons who are residing in, or subject to, the taxes of,
countries other than the United States to comply with applicable tax and
securities laws. To the extent applicable, this Plan is intended to comply with
the applicable requirements of Rule 16b-3 and shall be limited, construed and
interpreted in a manner so as to comply therewith.

     II.4 DECISIONS FINAL. Any decision, interpretation or other action made or
taken in good faith by or at the direction of the Company or the Board (or any
of its members) arising out of or in connection with the Plan shall be within
the absolute discretion of all and each of them, as the case may be, and shall
be final, binding and conclusive on the Company and Non-Employee Directors and
their respective heirs, executors, administrators, successors and assigns.

     II.5 DESIGNATION OF CONSULTANTS/LIABILITY.

     (a) The Board may designate employees of the Company and professional
advisors to assist the Board in the administration of the Plan and may grant
authority to employees to execute agreements or other documents on behalf of the
Board.

     (b) The Company or the Board may consult with and employ such legal
counsel, consultants and agents as it may deem desirable for the administration
of the Plan (who may be, legal counsel, a consultant or agent of the Company)
and may rely upon any opinion received from any such counsel or consultant and
any computation received from any

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such consultant or agent. Expenses incurred by the Board in the engagement of
any such counsel, consultant or agent shall be paid by the Company. The Board,
its members and any person designated pursuant to paragraph (a) above shall not
be liable for any action or determination made in good faith with respect to the
Plan. To the maximum extent permitted by applicable law, no officer of the
Company or member or former member of the Board shall be liable for any action
or determination made in good faith with respect to the Plan or any award of
Restricted Stock granted under it. To the maximum extent permitted by applicable
law and the Certificate of Incorporation and By-Laws of the Company, and to the
extent not covered by insurance, each officer and member or former member of the
Board shall be indemnified and held harmless by the Company against any cost or
expense (including reasonable fees of counsel reasonably acceptable to the
Company) or liability (including any sum paid in settlement of a claim with the
approval of the Company), and advanced amounts necessary to pay the foregoing at
the earliest time and to the fullest extent permitted, arising out of any act or
omission to act in connection with the Plan, except to the extent arising out of
such officer's, member's or former member's own fraud or bad faith. Such
indemnification shall be in addition to any rights of indemnification the
officers, directors or members or former officers, directors or members may have
under applicable law or under the Certificate of Incorporation or By-Laws of the
Company. Notwithstanding anything else herein, this indemnification will not
apply to the actions or determinations made by an individual with regard to
awards of Restricted Stock granted to him or her under this Plan.

                                   ARTICLE III

                           SHARE AND OTHER LIMITATIONS

     III.1 SHARES TO BE DELIVERED. Shares to be issued under the Plan shall be
made available only from issued shares of Common Stock reacquired by the Company
and held in treasury. The aggregate number of shares of Common Stock which may
be issued under this Plan with respect to any award of Restricted Stock shall
not exceed 100,000 shares (subject to any increase or decrease pursuant to
Section 3.2). Notwithstanding the foregoing, if any shares of Restricted Stock
awarded under this Plan to a Non-Employee Director are forfeited for any reason,
the number of forfeited shares of Restricted Stock shall again be available for
purposes of granting awards of Restricted Stock under the Plan.

     III.2 ADJUSTMENTS UPON CERTAIN EVENTS.

     (a) ADJUSTMENTS. The existence of the Plan and any award of Restricted
Stock granted hereunder shall not affect in any way the right or power of the
Board or the stockholders of the Company to make or authorize any adjustment,
recapitalization, reorganization or other change in the Company's capital
structure or its business, any merger or consolidation of the Company, any issue
of bonds, debentures, preferred or prior preference stocks ahead of or affecting
Common Stock, the dissolution or liquidation of the Company, any sale or
transfer of all or part of the assets or business of the Company, or any other
corporate act or proceeding.

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     (b) CAPITAL STRUCTURE. In the event of (i) any such change in the capital
structure or business of the Company by reason of any stock dividend or
distribution, stock split or reverse stock split, recapitalization,
reorganization, merger, consolidation, spin-off, split-up, combination or
exchange of shares, distribution with respect to its outstanding Common Stock or
capital stock other than Common Stock, sale or transfer of all or part of its
assets or business, reclassification of its capital stock, or any similar change
affecting the Company's capital structure or business and (ii) the Board
determines an adjustment is appropriate under the Plan, then the aggregate
number and kind of shares which thereafter may be issued under this Plan shall
be appropriately adjusted consistent with such change in such manner as the
Board may deem equitable to prevent substantial dilution or enlargement of the
rights granted to, or available for, Non-Employee Director under this Plan or as
otherwise necessary to reflect the change, and any such adjustment determined by
the Board shall be binding and conclusive on the Company and all Non-Employee
Directors and their respective heirs, executors, administrators, successors and
assigns.

     (c) FRACTIONAL SHARES. Fractional shares resulting from adjustment pursuant
to Sections 3.2(a) or (b) shall be eliminated by rounding down for fractions
less than one-half (1/2) and rounding up for fractions equal to or greater than
one-half (1/2). No cash settlements shall be made with respect to fractional
shares eliminated by rounding.

                                   ARTICLE IV

                                   ELIGIBILITY

     An award of Restricted Stock under this Plan may be automatically granted
to Non-Employee Directors of the Company.

                                    ARTICLE V

                           AWARDS OF RESTRICTED STOCK

     V.1 AWARDS OF RESTRICTED STOCK. (a) AMOUNT OF AWARDS. The Company shall pay
fifty percent (50%) of a Non-Employee Director's Retainer Fees and fifty percent
(50%) of a Non-Employee Director's Meeting Fees in the form of Restricted Stock.

     (b) DATE OF GRANT. Awards that are attributable to Retainer Fees shall be
made as of the first Board meeting of the Company's fiscal year, which shall be
treated as the date of grant for such award of Restricted Stock. Awards of
Restricted Stock that are attributable to Meeting Fees shall be made as of the
last day of the calendar quarter in which the Board meetings and/or committee
meetings occur, which shall be treated as the dates of grant for such awards;
provided, however, that in the event a Change in Control, awards of Restricted
Stock which would otherwise be made on the last day of the calendar quarter in
which the Change in Control occurs, shall be made as of the date of the Change
in Control. Unless the Board decides to take specific action at grant with
respect to an award of Restricted Stock (provided that it is consistent with the
Plan's terms), any grant to a Non-Employee

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Director of an award of Restricted Stock hereunder shall be automatic without
further action by the Board or the stockholders of the Company.

     (c) DETERMINATION OF RESTRICTED STOCK AWARD. As of each date of grant, as
determined in accordance with Section 5.1(b) above, each Non-Employee Director
shall receive that number of shares of Restricted Stock determined by dividing
(i) the amount of Retainer Fees or Meeting Fees that the Non-Employee Director
will receive in Restricted Stock, by (ii) (a) with respect to Retainer Fees, the
Fair Market Value of the Common Stock on the date of grant of the Restricted
Stock and (b) with respect to Meeting Fees, the average Fair Market Value for
the calendar quarter in which any such meeting occurs. Any fractional shares of
Restricted Stock resulting from the division of (i) by (ii) shall be eliminated
by rounding-down for fractions less than one-half (1/2) and rounding-up for
fractions equal to or greater than one-half (1/2). No cash settlements shall be
made with respect to fractional shares eliminated by rounding.

     (d) SPECIAL 1999 AWARDS. (i) As of the Effective Date, the Company shall
pay, in the form of Restricted Stock, fifty percent (50%) of the Meeting Fees
attributable to meetings held between September 17, 1999 and December 31, 1999.
Awards that are granted pursuant to this Section 5.1(d) shall be determined by
dividing (A) the amount of the Meeting Fees waived between September 17, 1999
and December 31, 1999 and (B) the average of the high and low sales prices of a
share of Common Stock on December 22, 1999. Any fractional shares of Restricted
Stock shall be eliminated by rounding-down for fractions less than one-half
(1/2) and rounding-up for fractions equal to or greater than one-half (1/2). No
cash settlements shall be made with respect to fractional shares eliminated by
rounding.

     (ii) In addition, as of the Effective Date, the Company shall pay 2000
shares of Restricted Stock to each Non-Employee Director who served on the
Company's "Special Committee" of the Board.

   V.2 AWARDS OF RESTRICTED STOCK AND CERTIFICATES. Restricted Stock granted
under this Article V shall also be subject to the following conditions:

     (a) PURCHASE PRICE. The purchase price for shares of Restricted Stock shall
be their par value or, to the extent permitted by applicable law, zero.

     (b) AGREEMENT. Awards of Restricted Stock shall be evidenced by an
agreement entered into between the Company and the Non-Employee Director. In the
event that the Non-Employee Director is required to pay the purchase price for
Restricted Stock in accordance with Section 5.2(a), such agreement must be
accepted within a period of sixty (60) days (or such shorter period as the Board
may specify at grant) after the award date by executing a Restricted Stock award
agreement and by paying the purchase price, if any.

     (c) VESTING. Except as otherwise provided in Article VII, shares of
Restricted Stock granted to a Non-Employee Director shall vest on the earliest
to occur: (i) the three (3) month anniversary of the date of grant of the award
of Restricted Stock; (ii) a Non-

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Employee Director's attainment of age seventy-two (72); (iii) a Non-Employee
Director's Disability; or (iv) a Non-Employee Director's death.

     (d) LEGEND. Each Non-Employee Director receiving an award of Restricted
Stock under this Article V shall be issued a stock certificate in respect of
such shares of Restricted Stock, unless the Board elects to use another system,
such as book entries by the transfer agent, as evidencing ownership of an award
of Restricted Stock. Such certificate shall be registered in the name of such
Non-Employee Director, and shall bear an appropriate legend referring to the
terms, conditions, and restrictions applicable to such award of Restricted
Stock, substantially in the following form:

     "The anticipation, alienation, attachment, sale, transfer, assignment,
     pledge, encumbrance or charge of the shares of stock represented hereby are
     subject to the terms and conditions (including forfeiture) of the Ogden
     Corporation (the "Company") Restricted Stock Plan for Non-Employee
     Directors and an Agreement entered into between the registered owner and
     the Company dated ___________. Copies of such Plan and Agreement are on
     file at the principal office of the Company."

     (e) CUSTODY. If stock certificates are issued in respect of shares of
Restricted Stock, the Board may require that any stock certificates evidencing
such shares be held in custody by the Company until the restrictions thereon
shall have lapsed, and that, as a condition of any award of Restricted Stock,
the Non-Employee Director shall have delivered a duly signed stock power,
endorsed in blank, relating to the Common Stock covered by such award of
Restricted Stock.

  V.3 RESTRICTIONS AND CONDITIONS ON AWARDS OF RESTRICTED STOCK. The shares
of Restricted Stock awarded pursuant to this Plan shall be subject to Article VI
and the following restrictions and conditions:

     (a) RESTRICTION PERIOD; VESTING AND ACCELERATION OF VESTING. The
Non-Employee Director shall not be permitted to Transfer shares of Restricted
Stock awarded under this Plan during the period or periods set by the Board (the
"Restriction Period") commencing on the date of such award of Restricted Stock,
as set forth in the Restricted Stock award agreement and such agreement shall
set forth a vesting schedule and any events which would accelerate vesting of
the shares of Restricted Stock.

     (b) RIGHTS AS STOCKHOLDER. Except as provided in this subsection (b) and
subsection (a) above and as otherwise determined by the Board, the Non-Employee
Director shall have, with respect to the shares of Restricted Stock, all of the
rights of a holder of shares of Common Stock of the Company including, without
limitation, the right to receive any dividends, the right to vote such shares
and, subject to and conditioned upon the vesting of shares of Restricted Stock,
the right to tender such shares. The Board may, in its sole

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discretion, determine at the time of grant that the payment of dividends shall
be deferred until, and conditioned upon, the expiration of the applicable
Restriction Period.

     (c) LAPSE OF RESTRICTIONS. If and when the Restriction Period expires
without a prior forfeiture of the Restricted Stock subject to such Restriction
Period, the certificates for such shares shall be delivered to the Non-Employee
Director. All legends shall be removed from said certificates at the time of
delivery to the Non-Employee Director, except as otherwise required by
applicable law.

     V.4 TERMINATION OF DIRECTORSHIP FOR RESTRICTED STOCK. Unless otherwise
determined by the Board at grant or thereafter, upon a Non-Employee Director's
Termination of Directorship for any reason (other than death or Disability)
during the relevant Restriction Period, all Restricted Stock subject to
restriction shall be forfeited. Upon a Non-Employee Director's Termination of
Directorship by the Company for Cause, all Restricted Stock subject to
restriction shall be forfeited.

                                   ARTICLE VI

                               NON-TRANSFERABILITY

     Shares of Restricted Stock may not be Transferred prior to the date on
which such shares are issued, or, if later, the date on which the Restriction
Period lapses. No award of Restricted Stock shall, except as otherwise
specifically provided by law or herein, be Transferable in any manner prior to
the date on which the applicable Restriction Period lapses, and any attempt to
transfer any share prior to the date on which the applicable Restriction Period
lapses shall be void, and no award of Restricted Stock shall in any manner be
liable for or subject to the debts, contracts, liabilities, engagements or torts
of any person who shall be entitled to such award, nor shall it be subject to
attachment or legal process for or against such person.

                                   ARTICLE VII

                          CHANGE IN CONTROL PROVISIONS

     VII.1 BENEFITS. Upon the occurrence of a Change in Control of the Company,
the restrictions to which any shares of Restricted Stock granted to a
Non-Employee Director prior to the Change in Control are subject shall lapse as
if the applicable Restriction Period had ended upon such Change in Control.

     VII.2 CHANGE IN CONTROL. A "Change in Control" shall be deemed to have
occurred upon:

     (a) the acquisition by any person or group (within the meaning of Section
13(d)(3) or 14(d)(2) of the Exchange Act of beneficial ownership (within the
meaning of Rule 13d-3 under the Exchange Act) of twenty-five percent (25%) or
more of either (i) the then outstanding shares of common stock of the Company or
(ii) the combined voting power of the

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then outstanding voting securities of the Company entitled to vote generally in
the election of directors, provided that the following acquisitions shall not
constitute a Change in Control: (i) any acquisition directly from the Company
(excluding any acquisition by virtue of the exercise of a conversion privilege),
(ii) any acquisition by the Company; (iii) any acquisition by any employee
benefit plan (or related trust) sponsored or maintained by the Company, or any
corporation controlled by the Company or (iv) any acquisition by any corporation
pursuant to a reorganization, merger or consolidation, if following such
reorganization, merger or consolidation the conditions described in clause (iii)
of paragraph (c) below are met.

     (b) individuals who, as of the Effective Date, 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 Effective Date, whose election, or nomination for election by the Company
stockholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered as though 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

     (c) the stockholders of the Company approve: (i) a plan of complete
liquidation of the Company; or (ii) an agreement for the sale or disposition of
all or substantially all the Company's assets; or (iii) a merger, consolidation,
or reorganization of the Company with or involving any other corporation,
limited liability entity or similar person, other than a merger, consolidation,
or reorganization that would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity) at least seventy-five percent (75%) of the combined voting
power of the voting securities of the Company (or such surviving entity)
outstanding immediately after such merger, consolidation, or reorganization.

     Notwithstanding the provisions of Section 7.2(b), in the event that there
is any change prior to May 11, 2000 of more than one-third of the individuals
who, as of the Effective Date, constitute the Board, such change shall be deemed
to be a "Change in Control."

                                  ARTICLE VIII

                      TERMINATION OR AMENDMENT OF THE PLAN

     Notwithstanding any other provision of this Plan, the Board may at any
time, and from time to time, amend, in whole or in part, any or all of the
provisions of the Plan, or suspend or terminate it entirely, retroactively or
otherwise; provided, however, that, unless otherwise required by law or
specifically provided herein, the rights of a Non-Employee Director with

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respect to an award of Restricted Stock granted prior to such amendment,
suspension or termination, may not be impaired without the consent of such
Non-Employee Director.

     The Board may amend the terms of any award of Restricted Stock theretofore
granted, prospectively or retroactively, but, subject to Article III above or as
otherwise specifically provided herein, no such amendment or other action by the
Board shall impair the rights of any holder without the holder's consent.

                                   ARTICLE IX

                                  UNFUNDED PLAN

     This Plan is intended to constitute an "unfunded" plan for incentive and
deferred compensation. With respect to any payments as to which a Non-Employee
Director has a fixed and vested interest but which are not yet made to a
Non-Employee Director by the Company, nothing contained herein shall give any
such Non-Employee Director any rights that are greater than those of a general
creditor of the Company.

                                    ARTICLE X

                               GENERAL PROVISIONS

     X.1 REPRESENTATION AND LEGEND. The Board may require each person receiving
shares pursuant to an award of Restricted Stock under the Plan to represent to
and agree with the Company in writing that the Non-Employee Director is
acquiring the shares without a view to distribution thereof. In addition to any
legend required by this Plan, the certificates for such shares may include any
legend which the Board deems appropriate to reflect any restrictions on
Transfer.

     All certificates for shares of Common Stock delivered under the Plan shall
be subject to such stock transfer orders and other restrictions as the Board may
deem advisable under the rules, regulations and other requirements of the
Securities and Exchange Commission, any stock exchange upon which the Common
Stock is then listed or any national securities association system upon whose
system the Common Stock is then quoted, any applicable Federal or state
securities law, and any applicable corporate law, and the Board may cause a
legend or legends to be put on any such certificates to make appropriate
reference to such restrictions.

     X.2 OTHER PLANS. Nothing contained in this Plan shall prevent the Board
from adopting other or additional compensation arrangements, subject to
stockholder approval if such approval is required and such arrangements may be
either generally applicable or applicable only in specific cases.

     X.3 NO RIGHT TO EMPLOYMENT. Neither this Plan nor the grant of any award of
Restricted Stock hereunder shall impose any obligation on the Company to retain
any Non-

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Employee Director as a director nor shall it impose on the part of any
Non-Employee Director any obligation to remain as a director of the Company.

     X.4 WITHHOLDING OF TAXES. The Company shall have the right to deduct from
any payment to be made to a Non-Employee Director, or to otherwise require,
prior to the issuance or delivery of any shares of Common Stock or the payment
of any cash hereunder, payment by the Non-Employee Director of, any federal,
state or local taxes required by law to be withheld. Upon the vesting of
Restricted Stock, or upon making an election under Code Section 83(b), a
Non-Employee Director shall pay all required withholding to the Company.

     The Board may permit any such statutory withholding obligation with regard
to any Non-Employee Director to be satisfied by reducing the number of shares of
Common Stock otherwise deliverable or by delivering shares of Common Stock
already owned. Any fraction of a share of Common Stock required to satisfy such
tax obligations shall be disregarded and the amount due shall be paid instead in
case by the Non-Employee Director.

     X.5 LISTING AND OTHER CONDITIONS.

     (a) As long as the Common Stock is listed on a national securities exchange
or system sponsored by a national securities association, the issue of any
shares of Common Stock pursuant to an award of Restricted Stock shall be
conditioned upon such shares being listed on such exchange or system. The
Company shall have no obligation to issue such shares unless and until such
shares are so listed.

     (b) If at any time counsel to the Company shall be of the opinion that any
sale or delivery of shares of Common Stock pursuant to an award of Restricted
Stock is or may in the circumstances be unlawful or result in the imposition of
excise taxes on the Company under the statutes, rules or regulations of any
applicable jurisdiction, the Company shall have no obligation to make such sale
or delivery, or to make any application or to effect or to maintain any
qualification or registration under the Securities Act of 1933, as amended, or
otherwise with respect to shares of Common Stock or awards of Restricted Stock.

     (c) Upon termination of any period of suspension under this Section 10.5,
any award of Restricted Stock affected by such suspension which shall not then
have expired or terminated shall be reinstated as to all shares available before
such suspension and as to shares which would otherwise have become available
during the period of such suspension.

     X.6 GOVERNING LAW. This Plan shall be governed and construed in accordance
with the laws of the State of Delaware (regardless of the law that might
otherwise govern under applicable Delaware principles of conflict of laws).

     X.7 CONSTRUCTION. Wherever any words are used in this Plan in the masculine
gender they shall be construed as though they were also used in the feminine
gender in all cases where they would so apply, and wherever any words are used
herein in the singular form they shall be construed as though they were also
used in the plural form in all cases where they would so apply.

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     X.8 OTHER BENEFITS. No award of Restricted Stock payment under this Plan
shall be deemed compensation for purposes of computing benefits under any
retirement plan of the Company nor affect any benefits under any other benefit
plan now or subsequently in effect under which the availability or amount of
benefits is related to the level of compensation.

     X.9 COSTS. The Company shall bear all expenses included in administering
this Plan, including expenses of issuing Common Stock pursuant to any award of
Restricted Stock hereunder.

     X.10 NO RIGHT TO SAME BENEFITS. The provisions of an award of Restricted
Stock need not be the same with respect to each Non-Employee Director, and such
awards of Restricted Stock to individual Non-Employee Directors need not be the
same in subsequent years.

     X.11 SECTION 16(b) OF THE EXCHANGE ACT. All transactions under the Plan by
persons subject to Section 16 of the Exchange Act involving shares of Common
Stock, including, without limitation, the grant of Restricted Stock and any
withholding of shares of Common Stock by the Company to satisfy required
withholding are intended to comply with all exemptive conditions under Rule
16b-3. The Board may establish and adopt written administrative guidelines,
designed to facilitate compliance with Section 16(b) of the Exchange Act, as it
may deem necessary or proper for the administration and operation of the Plan
and the transaction of business thereunder.

     X.12 SEVERABILITY OF PROVISIONS. If any provision of the Plan shall be held
invalid or unenforceable, such invalidity or unenforceability shall not affect
any other provisions hereof, and the Plan shall be construed and enforced as if
such provisions had not been included.

     X.13 HEADINGS AND CAPTIONS. The headings and captions herein are provided
for reference and convenience only, shall not be considered part of the Plan,
and shall not be employed in the construction of the Plan.

                                   ARTICLE XI

                                  TERM OF PLAN

     No award of Restricted Stock shall be granted pursuant to the Plan on or
after the tenth anniversary of the Effective Date Plan, but awards of Restricted
Stock granted prior to such tenth anniversary may extend beyond that date.

                                      12-

<PAGE>

                              EXHIBIT 10.3(E)(ii)

                          RESTRICTED STOCK AGREEMENT
                                 PURSUANT TO
                              OGDEN CORPORATION
                          RESTRICTED STOCK PLAN FOR
                           NON-EMPLOYEE DIRECTORS

                                                            February __, 2000

Dear [Director]:

     I am pleased to advise you that you were automatically granted as of the
_____ day of ________, 2000 (the "Grant Date")__________shares of the validly
issued common stock of the Company, $.50 par value per share (the "Shares")
subject and pursuant to the terms and conditions of the Ogden Corporation
(the "Company") Restricted Stock Plan for Non-Employee Directors (the "Plan")
and this letter.  The purchase price for the Shares is zero.  The Shares are
subject to certain restrictions relating to the passage of time as a
director.  While such  restrictions are in effect, the Shares subject to such
restrictions are referred to herein as "Restricted Stock".

     1. VESTING.  The Restricted Stock will become vested and cease to be
Restricted Stock (but will remain subject to paragraph 5 of this letter) on
the three month anniversary of the Grant Date (the "Restriction Period").
Notwithstanding the foregoing, the Restricted Stock will become vested and
cease to be Restricted Stock (but will remain subject to paragraph 5 of this
letter) upon the earliest of the following to occur; (i) your attainment of
age seventy-two (72); (ii) your Disability; (iii) your death; or (iv) the
occurrence of a Change in Control.

     2. FORFEITURE.  If you incur a Termination of Directorship for any
reason (other than your Disability or death) including, without limitation,
retirement, resignation or failure to stand for reelection or for Cause
during the relevent Restricted Period, you will forfeit to the Company,
without compensation, any and all unvested Restricted Stock.

     3. RIGHTS AS A HOLDER OF RESTRICTED STOCK.  From and after the Grant
Date, you will have the right to vote the Restricted Stock, to receive and
retain all regular cash dividends payable to holders of Shares of record on
and after the transfer of the Restricted Stock (although such dividends will
be treated, to the extend required by applicable law, as taxable income for
tax purposes), and to exercise all other rights, powers and privileges of a
holder of Shares with respect to the Restricted Stock, with the exceptions
that (i) you will not be entitled to delivery of the stock certificate or
certificates representing the Restricted Stock until the Restriction Period
has expired; (ii) the Company (or its designated agent) will retain custody
of the stock certificate or certificates representing the Restricted Stock
and any other property ("RS Property") issued in respect of the Restricted
Stock (other than regular cash dividends which will be paid to you) during
the Restriction Period; (iii) no RS Property will bear interest or be
segregated in separate accounts during the Restriction Period; and (iv) you
may not Transfer the Restricted Stock during the Restriction Period.

     4. TAXES; SECTION 83(B) ELECTION.  You acknowledge that it is your sole
responsibility to pay any taxes arising in connection with the Restricted
Stock and that it is your sole responsibility, and not the Company's, to file
timely and properly any election under Section 83(b) of the

<PAGE>

Internal Revenue Code and any corresponding provisions of state tax laws, if
you wish to utilize such election.

     5. SECURITIES REPRESENTATIONS.  The Shares are being issued to you in
reliance upon the following express representations and warranties:  (i) you
have been advised that you are an "affiliate" within the meaning of Rule 144
under the Securities Act of 1933 (the "Act") and in this connection the
Company is relying in part your representations set forth in this section;
(ii) since you are an affiliate within the meaning of Rule 144 of the Act,
the Shares must be held and sold only pursuant to any available exemption
from any applicable resale restrictions or until the Company files a
registration statement (or a "re-offer prospectus") with regard to such Shares
and the Company is under no obligation to register the Shares (or to file a
"re-offer prospectus"); and (iii) since you are an affiliate within the
meaning of Rule 144 of the Act, you understand that the exemption from
registration under Rule 144 will not be available unless (x) a public trading
market then exists for the Shares of the Company; (y) adequate information
concerning the Company is then available to the public; and (z) other terms
and conditions of Rule 144 or any exemption therefrom are complied with and
that any sale of the Shares may be made only in limited amounts in accordance
with such terms and conditions.

     6. ATTORNEY-IN-FACT STATUS.  The Company, its successors and assigns, is
hereby appointed your attorney-in-fact, with full power of substitution, for
the purpose of carrying out the provisions of this letter and taking any
action and executing any instruments which such attorney-in-fact may deem
necessary or advisable to accomplish the purposes hereof, which appointment
as attorney-in-fact is irrevocable and coupled with an interest.  Upon the
Board of Director's request, you will deliver to the Company a duly signed
stock power, endorsed in blank, relating to the Restricted Stock.

     7. PLAN PROVISIONS CONTROL.  This letter and the grant hereunder are
subject to all the restrictions, terms and provisions of the Plan which are
incorporated herein by reference.  In the event of an inconsistency between
any provisions of the Plan and this letter, unless otherwise indicated, the
terms of the Plan will control.  The capitalized terms in this letter that
are not otherwise defined have the same meaning as set forth in Article I of
the Plan.

                             *       *       *

A copy of the Plan is attached to this letter.  Please sign a copy of this
letter acknowledging and accepting the terms and conditions of the grant and
return it to___________at Ogden Corporation, Two Pennsylvania Plaza, New
York, New York______________ within 60 days after the day and year first
above written.  If you have any questions in connection with the grant, feel
free to call ________________ at ______________.

Very truly yours,

George L. Farr

Accepted:

___________________             ________________
Name                            Date<PAGE>

                                 EXHIBIT 10.3(m)
                                 ---------------

     OGDEN CORPORATION
     EXECUTIVE PERFORMANCE INCENTIVE PLAN

1.   PURPOSE

     The purpose of this Plan is to attract, retain and motivate key employees
by providing cash performance awards to designated key employees of the Company,
its Parent and its Subsidiaries. This Plan is effective for the fiscal year of
the Company commencing on January 1, 2000 and for fiscal years thereafter,
subject to approval by the stockholders of the Company in accordance with the
laws of the State of Delaware.

2.   DEFINITIONS

     Unless the context otherwise requires, the words which follow shall have
the following meaning:

          (a) "Award" - shall mean the total annual Performance Award as
determined under the Plan.

          (b) "Board" - shall mean the Board of Directors of the Company.

          (c) "Change in Control of the Company" - shall have the meaning set
forth in Exhibit A hereto.

          (d) "Code" - shall mean the Internal Revenue Code of 1986, as amended
and any successor thereto.

          (e) "Code Section 162(m)" - shall mean the exception for
performance-based compensation under Section 162(m) of the Code or any successor
section and the Treasury regulations promulgated thereunder.

          (f) "Company" - shall mean Ogden Corporation and any successor by
merger, consolidation or otherwise.

          (g) "Committee" - shall mean the Compensation Committee of the Board
or such other Committee of the Board that is appointed by the Board all of whose
members shall satisfy the requirements to be "outside directors," as defined
under Code Section 162(m).

          (h) "Individual Target Award" - shall mean the targeted performance
award for a Plan Year specified by the Committee as provided in Section 5
hereof.

<PAGE>

          (i) "Parent" - shall mean, other than the Company, (i) any corporation
in an unbroken chain of corporations ending with the Company which owns stock
possessing fifty percent (50%) or more of the total combined voting power of all
classes of stock in one of the other corporations in such chain or (ii) any
corporation or trade or business (including, without limitation, a partnership
or limited liability company) which controls fifty percent (50%) or more
(whether by ownership of stock, assets or an equivalent ownership interest) of
the Company.

          (j) "Participant" - shall mean an employee of the Company, the Parent
or a Subsidiary selected, in accordance with Section 4 hereof, to be eligible to
receive an Award in accordance with this Plan.

          (k) "Performance Award" - shall mean the amount paid or payable under
Section 6 hereof.

          (l) "Plan" - shall mean this Ogden Corporation Executive Performance
Incentive Plan.

          (m) "Plan Year" - shall mean the fiscal year of the Company, or, if
applicable and determined by the Committee, in its sole discretion, the fiscal
year of the applicable Subsidiary.

          (n) "Subsidiary" - shall mean, other than the Company, (i) any
corporation in an unbroken chain of corporations beginning with the Company
which owns stock possessing fifty percent (50%) or more of the total combined
voting power of all classes of stock in one of the other corporations in such
chain; (ii) any corporation or trade or business (including, without limitation,
a partnership or limited liability company) which is controlled fifty percent
(50%) or more (whether by ownership of stock, assets or an equivalent ownership
interest or voting interest) by the Company or one of its Subsidiaries; or (iii)
any other entity in which the Company or any of its Subsidiaries has a material
equity interest and which is designated as a "Subsidiary" by resolution of the
Committee.

3.   ADMINISTRATION AND INTERPRETATION OF THE PLAN

     The Plan shall be administered by the Committee. The Committee shall have
the exclusive authority and responsibility to: (i) interpret the Plan; (ii)
approve the designation of eligible Participants; (iii) set the performance
criteria for Awards within the Plan guidelines; (iv) certify attainment of
performance goals and other material terms; (v) reduce Awards as provided
herein; (vi) authorize the payment of all benefits and expenses of the Plan as
they become payable under the Plan; (vii) adopt, amend and rescind rules and
regulations relating to the Plan; and (viii) make all other determinations and
take all other actions necessary or desirable for the Plan's administration
including, without limitation, correcting any defect, supplying any omission or
reconciling any inconsistency in this Plan in the manner and to the extent it
shall deem necessary to carry

<PAGE>

this Plan into effect, but only to the extent any such action would be permitted
under Code Section 162(m).

     Decisions of the Committee shall be made by a majority of its members. All
decisions of the Committee on any question concerning the selection of
Participants and the interpretation and administration of the Plan shall be
final, conclusive and binding upon all parties. The Committee may rely on
information, and consider recommenda tions, provided by the Board or the
executive officers of the Company. The Plan is intended to comply with Code
Section 162(m), and all provisions contained herein shall be limited, construed
and interpreted in a manner to so comply.

4.   ELIGIBILITY AND PARTICIPATION

     (a) For each Plan Year, the Committee shall select the employees of the
Company, its Parent and Subsidiaries who are to participate in the Plan from
among the executive key employees of the Company, its Parent and Subsidiaries.

     (b) No person shall be entitled to any Award under this Plan for any Plan
Year unless he or she is so designated as a Participant for that Plan Year. The
Committee may add to or delete individuals from the list of designated
Participants at any time and from time to time, in its sole discretion, subject
to any limitations required to comply with Code Section 162(m).

5.   INDIVIDUAL TARGET AWARD

     For each Participant for each Plan Year, the Committee may specify a
targeted performance award. The Individual Target Award may be expressed, at the
Committee's discretion, as a fixed dollar amount, a percentage of base pay or
total pay (excluding payments made under this Plan), or an amount determined
pursuant to an objective formula or standard. Establishment of an Individual
Target Award for an employee for a Plan Year shall not imply or require that the
same level Individual Target Award (if any such award is established by the
Committee for the relevant employee) be set for any subsequent Plan Year. At the
time the Performance Goals are established (as provided in subsection 6.2
below), the Committee shall prescribe a formula to determine the percentages
(which may be greater than one-hundred percent (100%)) of the Individual Target
Award which may be payable based upon the degree of attainment of the
Performance Goals during the Plan Year. Notwithstanding anything else herein,
the Committee may, in its sole discretion, elect to pay a Participant an amount
that is less than the Participant's Individual Target Award (or attained
percentage thereof) regardless of the degree of attainment of the Performance
Goals; provided that no such discretion to reduce an Award earned based on
achievement of the applicable Performance Goals shall be permitted for the Plan
Year in which a Change in Control of the Company occurs, or during such Plan
Year with regard to the prior Plan Year if the Awards for the prior Plan Year
have not been made by the time of the Change in Control of the Company, with
regard to individuals who were Participants at the time of the Change in Control
of the Company.

<PAGE>

6.   PERFORMANCE AWARD PROGRAM

     6.1 Performance Awards. Subject to Section 7 herein, each Participant is
eligible to receive up to the achieved percentage of their Individual Target
Award for such Plan Year (or, subject to the last sentence of Section 5, such
lesser amount as determined by the Committee in its sole discretion) based upon
the attainment of the objective Performance Goals established pursuant to
subsection 6.2 and the formula established pursuant to Section 5. Except as
specifically provided in Section 7, no Performance Award shall be made to a
Participant for a Plan Year unless the minimum Performance Goals for such Plan
Year are attained.

     6.2 Objective Performance Goals, Formulae or Standards (the "Performance
Goals"). The Committee shall establish the objective performance goals, formulae
or standards and the Individual Target Award (if any) applicable to each
Participant or class of Participants for a Plan Year in writing prior to the
beginning of such Plan Year or at such later date as permitted under Code
Section 162(m) and while the outcome of the Performance Goals are substantially
uncertain. Such Performance Goals may incorporate, if and only to the extent
permitted under Code Section 162(m), provisions for disregarding (or adjusting
for) changes in accounting methods, corporate transactions (including, without
limitation, dispositions and acquisitions) and other similar type events or
circumstances. To the extent any such provision would create impermissible
discretion under Code Section 162(m) or otherwise violate Code Section 162(m),
such provision shall be of no force or effect. These Performance Goals shall be
based on one or more of the following criteria with regard to the Company (or a
subsidiary, division, or other operational unit of the Company): (i) the
attainment of certain target levels of, or a specified percentage increase in,
profits, market share, revenues, income before income taxes and extraordinary
items, net income, earnings before income tax, earnings before interest, taxes,
depreciation and amortization or a combination of any or all of the foregoing;
(ii) the attainment of certain target levels of (including, without limitation,
a break-even), or a percentage increase in, after-tax or pre-tax profits
including, without limitation, that are attributable to continuing and/or other
operations; (iii) the attainment of certain target levels of, or a specified
increase in, operational cash flow or cash generation targets; (iv) the
achievement of a certain level of, reduction of, or other specified objectives
with regard to limiting the level of increase in, all or a portion of, the
Company's bank debt or other long-term or short- term public or private debt or
other similar financial obligations of the Company, which may be calculated net
of such cash balances and/or other offsets and adjustments as may be established
by the Committee; (v) the attainment of a specified percentage increase in
earnings per share or earnings per share from continuing operations; (vi) the
attainment of certain target levels of, or a specified increase in return on
capital employed or return on invested capital; (vii) the attainment of certain
target levels of, or a percentage increase in, after-tax or pre-tax return on
stockholders' equity or profitability targets as measured by return ratio and
shareholder return; (viii) the attainment of certain target levels of, or a
specified increase in, economic value added targets based on a cash flow return
on investment formula; (ix) the attainment of certain target levels in the fair
market value of the shares of the

<PAGE>

Company's common stock; and (x) the growth in the value of an investment in the
Company's common stock assuming the reinvestment of dividends. For purposes of
item (i) above, "extraordinary items" shall mean all items of gain, loss or
expense for the Plan Year determined to be extraordinary or unusual in nature or
infrequent in occurrence or related to a corporate transaction (including,
without limitation, a disposition or acquisition) or related to a change in
accounting principle, all as determined in accordance with standards established
by opinion No. 30 of the Accounting Principles Board.

     In addition, such Performance Goals may be based upon the attainment of
specified levels of Company (or subsidiary, division or other operational unit
of the Company) performance under one or more of the measures described above
relative to the performance of other corporations. To the extent permitted under
Code Section 162(m), but only to the extent permitted under Code Section 162(m)
(including, without limitation, compliance with any requirements for stockholder
approval), the Committee may: (i) designate additional business criteria on
which the Performance Goals may be based or (ii) adjust, modify or amend the
aforementioned business criteria.

     6.3 Maximum Nondiscretionary Award. The maximum Performance Award,
including any interest thereon due to deferral (as provided under Section 6.4
hereof), payable to a Participant for any Plan Year is $4,000,000.

     6.4 Payment Date; Committee Certification. The Performance Awards will be
paid as soon as administratively feasible after the Plan Year in which they are
earned, but not before the Committee certifies in writing that the Performance
Goals specified (except to the extent permitted under Code Section 162(m) and
provided in Section 7 with regard to death, disability or Change in Control of
the Company or certain other termination situations) pursuant to subsection 6.2
were, in fact, satisfied, except as may otherwise be agreed by a Participant and
the Company in a written agreement executed prior to the beginning of the Plan
Year to which the Performance Award relates in accordance with any deferred
compensation program in effect applicable to such Participant. Performance
Awards hereunder shall be payable in cash or, in the sole discretion of the
Committee, in restricted stock pursuant to the Ogden Corporation 1999 Stock
Incentive Plan, amended and restated as of January 1, 2000. The Committee shall
use its best efforts to make a determination with regard to satisfaction of the
Performance Goals within two and one-half (2 1/2) months after the end of each
Plan Year. Any Performance Award deferred by a Participant shall increase or
decrease (between the date on which the Performance Award is credited to any
deferred compensation program applicable to such Participant and the payment
date) based on an earnings factor elected by the Participant from such options
offered by the Committee and set forth in writing prior to such deferral which
shall be based either on a reasonable rate of interest or on one or more
predetermined actual investments such that the amount payable at the end of the
deferral period shall be based on the actual rate of return of a specific
investment. The Participant shall have no right to receive payment of any
deferred amount until he or she has a right to receive such amount under the
terms of the applicable deferred compensation program.

<PAGE>

7.   EMPLOYMENT AT YEAR END GENERALLY REQUIRED FOR AWARD

     No Award shall be made to any Participant who is not an active employee of
the Company, its Parent or one of its Subsidiaries or affiliates at the end of
the Plan Year; provided, however, that the Committee, in its sole and absolute
discretion, may make Awards to Participants for a Plan Year in circumstances
that the Committee deems appropriate including, but not limited to, a
Participant's death, disability, retirement or other termination of employment
during such Plan Year and the Committee shall be required to make at least a
pro-rata Award through the date of a Change in Control of the Company to each
Participant who is a Participant at the time of such Change in Control of the
Company. All such Awards shall be based on achievement of the Performance Goals
for the Plan Year, except that, to the extent permitted under Code Section
162(m), in the case of death, disability or Change in Control of the Company
during the Plan Year (or such other termination situations as permitted under
Code Section 162(m)) an amount equal to or less than the Individual Target
Awards may be made by the Committee either during or after the Plan Year without
regard to actual achievement of the Performance Goals. Furthermore, upon a
Change in Control of the Company the Committee may, in its sole discretion but
only to the extent permitted under Code Section 162(m), make an award (payable
immediately) equal to a pro-rata portion (through the date of the Change in
Control of the Company) of the Individual Target Award payable upon achieving,
but not surpassing, the Performance Goals for the relevant Plan Year. Any such
immediate pro-rata payment shall reduce any other Award made for such Plan Year
under this Plan by the amount of the pro-rata payment.

8.   NON-ASSIGNABILITY

     No Award under this Plan nor any right or benefit under this Plan shall be
subject to anticipation, alienation, sale, assignment, pledge, encumbrance,
garnishment, execution or levy of any kind or charge, and any attempt to
anticipate, alienate, sell, assign, pledge, encumber and to the extent permitted
by applicable law, charge, garnish, execute upon or levy upon the same shall be
void and shall not be recognized or given effect by the Company.

9.   NO RIGHT TO EMPLOYMENT

         Nothing in the Plan or in any notice of award pursuant to the Plan
shall confer upon any person the right to continue in the employment of the
Company, its Parent, or one of its Subsidiaries or affiliates nor affect the
right of the Company, its Parent or any of its Subsidiaries or affiliates to
terminate the employment of any Participant.

10.      AMENDMENT OR TERMINATION

         The Board (or a duly authorized committee thereof) may, in its sole and
absolute discretion, amend, suspend or terminate the Plan or to adopt a new plan
in place of this Plan at any time; provided, that no such amendment shall,
without the prior approval of

<PAGE>

the stockholders of the Company in accordance with the laws of the State of
Delaware to the extent required under Code Section 162(m): (i) materially alter
the Performance Goals as set forth in subsection 6.2; (ii) increase the maximum
amount set forth in subsection 6.3; (iii) change the class of eligible employees
set forth in Section 4(a); or (iv) implement any change to a provision of the
Plan requiring stockholder approval in order for the Plan to continue to comply
with the requirements of Code Section 162(m). Furthermore, no amendment,
suspension or termination shall, without the consent of the Participant, alter
or impair a Participant's right to receive payment of an Award for a Plan Year
otherwise payable hereunder.

11.  SEVERABILITY

     In the event that any one or more of the provisions contained in the Plan
shall, for any reason, be held to be invalid, illegal or unenforceable, in any
respect, such invalidity, illegality or unenforceability shall not affect any
other provision of the Plan and the Plan shall be construed as if such invalid,
illegal or unenforceable provisions had never been contained therein.

12.  WITHHOLDING

     The Company shall have the right to make such provisions as it deems
necessary or appropriate to satisfy any obligations it may have to withhold
federal, state or local income or other taxes incurred by reason of payments
pursuant to the Plan.

13.  GOVERNING LAW

     This Plan and any amendments thereto shall be construed, administered, and
governed in all respects in accordance with the laws of the State of Delaware
(regardless of the law that might otherwise govern under applicable principles
of conflict of laws).

<PAGE>

EXHIBIT A

A "Change in Control of the Company" shall be deemed to have occurred upon:

(a)  the acquisition by any person 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")) of beneficial ownership (within the meaning of Rule
     13d-3 under the Exchange Act) of twenty-five percent (25%) or more of
     either (i) the then outstanding shares of common stock of the Company or
     (ii) the combined voting power of the then outstanding voting securities of
     the Company entitled to vote generally in the election of directors,
     provided that the following acquisitions shall not constitute a Change in
     Control of the Company: (i) any acquisition directly from the Company
     (excluding any acquisition by virtue of the exercise of a conversion
     privilege), (ii) any acquisition by the Company; (iii) any acquisition by
     any employee benefit plan (or related trust) sponsored or maintained by the
     Company, or any corporation controlled by the Company or (iv) any
     acquisition by any corporation pursuant to a reorganization, merger or
     consolidation, if following such reorganization, merger or consolidation
     the conditions described in clause (iii) of paragraph (c) below are met.

(b)  individuals who, as of the effective date of the Plan, 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 effective date of the Plan, whose election, or
     nomination for election by the Company stockholders, was approved by a vote
     of at least a majority of the directors then comprising the Incumbent Board
     shall be considered as though 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

(c)  the stockholders of the Company approve: (i) a plan of complete liquidation
     of the Company; or (ii) an agreement for the sale or disposition of all or
     substantially all the Company's assets; or (iii) a merger, consolidation,
     or reorganization of the Company with or involving any other corporation,
     limited liability entity or similar person, other than a merger,
     consolidation, or reorganization that would result in the voting securities
     of the Company outstanding immediately prior thereto continuing to
     represent (either by remaining outstanding or by being converted into
     voting securities of the surviving entity) at least seventy-five percent
     (75%) of the combined voting power of the voting securities of the Company
     (or such surviving entity) outstanding immediately after such merger,
     consolidation, or reorganization.

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