Document:

[LOGO - HEIN & ASSOCIATES LLP
Certified Public Accountants and Advisors]

May 9, 2007

Securities and Exchange Commission
10 F Street, N.E.
Washington, DC  20549-7561

Commissioners:

We have read Knight Energy Corporation's Statements in its Form 10-SAB/A
under the caption changes in and Disagreements with Independent Registered
Public Accounting Firm on Accounting and Financial Disclosure, and we
agree with such statements concerning our Firm.

/s/Hein & Associates LLP
HEIN & ASSOCIATES LLP

14755 Preston Road, Suite 320
Dallas, Texas 75254
Phone: 972-458-2296
Fax: 972-788-4943
www.heincpa.com

                                 E-10Pool Corporation 2007 Long-Term Incentive Plan

    EXHIBIT
      10.1

     

    POOL
      CORPORATION

     

    2007
      LONG-TERM INCENTIVE PLAN

     

    
      	1.  	
              Establishment
                of the Plan.

            

    

     

    
      	1.1  	
              Plan
                Name. As of the Effective Date, the name of this plan shall be the
                2007
                Long-Term Incentive Plan (the
“Plan”).

            

    

     

    
      	1.2  	
              Effective
                Date. This plan document shall become effective on May 8, 2007, subject
                to
                its approval by the holders of a majority of the voting power of
                the
                shares deemed present and entitled to vote at the Pool Corporation
                (“POOL”) Annual Meeting of Shareholders to be held on that date and any
                necessary approval from any department, board or agency of the United
                States or states having
                jurisdiction.

            

    

     

    
      	1.3  	
              Purpose.
                The purpose of the Plan is to increase shareholder value and to advance
                the interests of POOL and its subsidiaries (collectively, the “Company”)
                by furnishing stock-based economic incentives (the “Incentives”) designed
                to attract, retain, reward and motivate key employees, officers,
                directors, consultants and advisors to the Company and to strengthen
                the
                mutuality of interests between such persons and POOL’s shareholders.
                Incentives consist of opportunities to purchase or receive shares
                of
                common stock, $.001 par value per share, of POOL (the “Common
                Stock”), on terms determined under the Plan. As used in the Plan, the term
                “subsidiary” means any corporation, limited liability company or other
                entity, of which POOL owns (directly or indirectly) within the meaning
                of
                Section 424(f) of the Internal Revenue Code of 1986, as amended,
                and the
                rules and regulations thereunder, as now in force or as hereafter
                amended
                (the “Code”), 50% or more of the total combined voting power of all
                classes of stock, membership interests or other equity interests
                issued
                thereby.

            

    

     

    
      	2.  	
              Administration.

            

    

     

    
      	2.1.  	
              Composition.
                The Plan shall be administered by the Compensation Committee of the
                Board
                of Directors of POOL or by a subcommittee thereof (the “Committee”). The
                Committee shall consist of not fewer than two members of the Board
                of
                Directors, each of whom shall (a) qualify as a “non-employee director”
                under Rule 16b-3 under the Securities Exchange Act of 1934 (the “1934
                Act”) or any successor rule, and (b) qualify as an “outside director”
                under Section 162(m) of the Code (“Section
                162(m)”).

            

    

     

    
      	2.2.  	
              Authority.
                The Committee shall have plenary authority to award Incentives under
                the
                Plan, to interpret the Plan, to establish any rules or regulations
                relating to the Plan that it determines to be appropriate, to enter
                into
                agreements with or provide notices to participants as to the terms
                of the
                Incentives (the “Incentive Agreements”) and to make any other
                determination that it believes necessary or advisable for the proper
                administration of the Plan. Its decisions in matters relating to
                the Plan
                shall be final and conclusive on the Company and participants. The
                Committee may delegate its authority hereunder to the extent provided
                in
                Section 3 hereof.

            

    

     

    
      	3.  	
              Eligible
                Participants. Key employees, officers, directors and persons providing
                services as consultants or advisors to the Company shall become eligible
                to receive Incentives under the Plan when designated by the Committee.
                Employees may be designated individually or by groups or categories,
                as
                the Committee deems appropriate. In accordance with applicable law,
                the
                Committee may delegate to appropriate officers of the Company its
                authority to designate participants, to determine the size and type
                of
                Incentives to be received by those participants and to set and modify
                the
                terms of the Incentives. 

            

    

     

    
      	4.  	
              Types
                of Incentives. Incentives may be granted under the Plan to eligible
                participants in the forms of (a) non-qualified stock options; and
                (b)
                restricted stock.

            

    

     

    
      	5.  	
              Shares
                Subject to the Plan.

            

    

     

    
      	5.1.  	
              Number of Shares.
                Subject to adjustment as provided in Sections 5.2 and 9.5, the maximum
                number of shares of Common Stock that may be delivered to participants
                and
                their permitted transferees under the Plan shall be 1,515,000. No
                additional awards will be made under the Company’s predecessor stock
                option plans (The SCP Pool Corporation 1995 Stock Option Plan, The
                SCP
                Pool Corporation 1998 Stock Option Plan, The SCP Pool Corporation
                2002
                Long-Term Incentive Plan, and The SCP Pool Corporation Non-Employee
                Directors Equity Incentive Plan).

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    
      	5.2.  	
              Share
                Counting. To the extent any shares of Common Stock covered by a stock
                option are not delivered to a participant or permitted transferee
                because
                the Option is forfeited or canceled or shares of Common Stock are
                not
                delivered because an Incentive is paid or settled in cash, such shares
                shall not be deemed to have been delivered for purposes of determining
                the
                maximum number of shares of Common Stock available for delivery under
                this
                Plan. In the event that shares of Common Stock are issued as an Incentive
                and thereafter are forfeited or reacquired by the Company pursuant
                to
                rights reserved upon issuance thereof, such forfeited and reacquired
                Shares may again be issued under the Plan. With respect to the Net
                Share
                Exercise of Options, as defined in Section 6.5 hereof, all shares
                to which
                the Option relates are counted against the plan limits, rather than
                the
                net number of shares delivered upon
                exercise.

            

    

     

    
      	5.3.  	
              Limitations
                on Awards. Subject to Sections 5.2 and 9.5, the following additional
                limitations are imposed under the
                Plan:

            

    

     

    
      	A.  	
              The
                maximum number of shares of Common Stock that may be covered by Incentives
                granted under the Plan to any one individual during any one calendar-year
                period shall be 200,000.

            

    

     

    
      	B.  	
              The
                maximum number of shares of Common Stock that may be issued as restricted
                stock shall be 100,000 shares. 

            

    

     

    
      	5.4.  	
              Type
                of Common Stock. Common Stock issued under the Plan may be authorized
                and
                unissued shares or issued shares held as treasury
                shares.

            

    

     

    
      	6.  	
              Stock
                Options. A stock option is a right to purchase shares of Common Stock
                from
                POOL. Each stock option granted by the Committee under this Plan
                shall be
                subject to the following terms and
                conditions:

            

    

     

    
      	6.1.  	
              Price.
                The exercise price per share shall be determined by the Committee,
                subject
                to adjustment under Section 9.5; provided that in no event shall
                the
                exercise price be less than the Fair Market Value of a share of Common
                Stock on the date of grant.

            

    

     

    
      	6.2.  	
              Number.
                The number of shares of Common Stock subject to the option shall
                be
                determined by the Committee, subject to Section 5 and subject to
                adjustment as provided in Section
                9.5.

            

    

     

    
      	6.3.  	
              Duration
                and Time for Exercise. The term of each stock option shall be determined
                by the Committee but shall not exceed 10 years from date of grant.
                Each
                stock option shall become exercisable at such time or times during
                its
                term as shall be determined by the
                Committee.

            

    

     

    
      	6.4.  	
              Repurchase.
                Upon approval of the Committee, the Company may repurchase a previously
                granted stock option from a participant by mutual agreement before
                such
                option has been exercised by payment to the participant of the amount
                per
                share by which: (i) the Fair Market Value (as defined in Section
                9.11) of
                the Common Stock subject to the option on the business day immediately
                preceding the date of purchase exceeds (ii) the exercise
                price.

            

    

     

    
      	6.5.  	
              Manner
                of Exercise. A stock option may be exercised, in whole or in part,
                by
                giving written notice to the Company, specifying the number of shares
                of
                Common Stock to be purchased. The exercise notice shall be accompanied
                by
                the full purchase price for such shares. The option price shall be
                payable
                in United States dollars and may be paid (a) in cash; (b) by check;
                (c) by
                delivery or attestation of ownership of shares of Common Stock which,
                unless otherwise determined by the Committee, shall have been held
                by the
                optionee for at least six months, and which shares shall be valued
                for
                this purpose at the Fair Market Value on the business day of the
                date such
                option is exercised; (d) by delivery of irrevocable written instructions
                to a broker approved by the Company (with a copy to the Company)
                to
                immediately sell a portion of the shares issuable under the option
                and to
                deliver promptly to the Company the amount of sale proceeds (or loan
                proceeds if the broker lends funds to the participant for delivery
                to the
                Company) to pay the exercise price; (e) by authorizing the Company
                to
                withhold from the exercise that number of shares of Common Stock
                which,
                when multiplied by the Fair Market Value of a share of Common Stock
                on the
                date of exercise, is equal to the aggregate exercise price payable
                with
                respect to the options being exercised (a “Net Share Exercise”) or (f) in
                such other manner as may be authorized from time to time by the
                Committee.

            

    

     

    
      	6.6.  	
              Repricing.
                Except for adjustments pursuant to Section 9.5 or actions permitted
                to be
                taken by the Committee under Section 9.10C. in the event of a Change
                of
                Control, unless approved by the stockholders of the Company, (a)
                the
                exercise price for any outstanding option granted under this Plan
                may not
                be decreased after the date of grant; and (b) an outstanding option
                that
                has been granted under this Plan may not, as of any date that such
                option
                has a per share exercise price that is greater than the then current
                Fair
                Market Value of a share of Common Stock, be surrendered to the Company
                as
                consideration for the grant of a new option with a lower exercise
                price,
                shares of Common Stock or a cash
                payment.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	7.  	
              Restricted
                Stock.

            

    

     

    
      	7.1.  	
              Grant
                of Restricted Stock. The Committee may award shares of restricted
                stock to
                such eligible participants as the Committee determines pursuant to
                the
                terms of Section 3. An award of restricted stock shall be subject
                to such
                restrictions on transfer and forfeitability provisions and such other
                terms and conditions, including the attainment of specified performance
                goals, as the Committee may determine, subject to the provisions
                of the
                Plan. To the extent restricted stock is intended to qualify as
                “performance-based compensation” under Section 162(m), it must be granted
                subject to the attainment of performance goals as described in Section
                8
                below and meet the additional requirements imposed by Section
                162(m).

            

    

     

    
      	7.2.  	
              The
                Restricted Period. At the time an award of restricted stock is made,
                the
                Committee shall establish a period of time during which the transfer
                of
                the shares of restricted stock shall be restricted and after which
                the
                shares of restricted stock shall be vested (the “Restricted Period”).
                Except for shares of restricted stock that vest based on the attainment
                of
                performance goals and except for shares of restricted stock granted
                to
                directors, the Restricted Period shall be a minimum of three years,
                with
                incremental vesting of portions of the award over the three-year
                period
                permitted. If the vesting of the shares of restricted stock is based
                upon
                the attainment of performance goals or if shares of restricted stock
                are
                granted to directors, a minimum Restricted Period of one year is
                allowed,
                with incremental vesting of portions of the award over the one-year
                period
                permitted. Each award of restricted stock may have a different Restricted
                Period. The expiration of the Restricted Period shall also occur
                as
                provided under Section 9.3 and under the conditions described in
                Section
                9.10 hereof.

            

    

     

    
      	7.3.  	
              Incentive
                Agreement and Registration of Shares. The participant receiving restricted
                stock shall enter into an Incentive Agreement with the Company setting
                forth the conditions of the grant. The shares of restricted stock
                awarded
                shall be registered in the name of the participant in book entry
                form
                reflecting the restrictions on transfer.

            

    

     

    
      	7.4.  	
              Dividends
                on Restricted Stock. Any and all cash and stock dividends paid with
                respect to the shares of restricted stock shall be subject to any
                restrictions on transfer, forfeitability provisions or reinvestment
                requirements as the Committee may, in its discretion, prescribe in
                the
                Incentive Agreement.

            

    

     

    
      	7.5.  	
              Forfeiture.
                In the event of the forfeiture of any shares of restricted stock
                under the
                terms provided in the Incentive Agreement (including any additional
                shares
                of restricted stock that may result from the reinvestment of cash
                and
                stock dividends, if so provided in the Incentive Agreement), such
                forfeited shares shall be cancelled. The participants shall have
                the same
                rights and privileges, and be subject to the same forfeiture provisions,
                with respect to any additional shares received pursuant to Section
                9.5 due
                to a recapitalization, merger or other change in
                capitalization.

            

    

     

    
      	7.6.  	
              Expiration
                of Restricted Period. Upon the expiration or termination of the Restricted
                Period and the satisfaction of any other conditions prescribed by
                the
                Committee, the restrictions applicable to the restricted stock shall
                lapse
                and a stock certificate for the number of shares of restricted stock
                with
                respect to which the restrictions have lapsed shall be delivered,
                free of
                all such restrictions and legends, except any that may be imposed
                by law,
                to the participant or the participant’s estate, as the case may
                be.

            

    

     

    
      	7.7.  	
              Rights
                as a Shareholder. Subject to the terms and conditions of the Plan
                and
                subject to any restrictions on the receipt of dividends that may
                be
                imposed in the Incentive Agreement, each participant receiving restricted
                stock shall have all the rights of a shareholder with respect to
                shares of
                stock during the Restricted Period, including without limitation,
                the
                right to vote any shares of Common Stock and the right to receive
                any
                dividends.

            

    

     

    
      	8.  	
              Performance
                Goals for Section 162(m) Awards. To the extent that shares of restricted
                stock granted under the Plan are intended to qualify as “performance-based
                compensation” under Section 162(m), the vesting or grant of such awards
                shall be conditioned on the achievement of one or more performance
                goals
                and must satisfy the other requirements of Section 162(m). The performance
                goals pursuant to which such shares of restricted stock shall vest
                or be
                granted shall be any or a combination of the following performance
                measures applied to the Company, POOL, a division or a subsidiary:
                earnings per share, return on assets, an economic value added measure,
                shareholder return, earnings, stock price, return on equity, return
                on
                total capital, reduction of expenses, increase in cash flow, increase
                in
                revenues or customer growth. The performance goals may be subject
                to such
                adjustments as are specified in advance by the Committee. For any
                performance period, such performance objectives may be measured on
                an
                absolute basis or relative to a group of peer companies selected
                by the
                Committee, relative to internal goals or relative to levels attained
                in
                prior years. For grants intended to qualify as performance-based
                compensation under Section 162(m), the Committee may not waive any
                of the
                pre-established performance goal objectives, except for an automatic
                waiver under Section 9.10 hereof, or as may be provided by the Committee
                in the event of death or
                disability.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
      	9.  	
              General.

            

    

     

    
      	9.1.  	
              Duration.
                Subject to Section 9.9, the Plan shall remain in effect until all
                Incentives granted under the Plan have either been satisfied by the
                issuance of shares of Common Stock or otherwise been terminated under
                the
                terms of the Plan and all restrictions imposed on shares of Common
                Stock
                in connection with their issuance under the Plan have
                lapsed.

            

    

     

    
      	9.2.  	
              Transferability.
                No Incentives granted hereunder may be transferred, pledged, assigned
                or
                otherwise encumbered by a participant except: (a) by will; (b) by
                the laws
                of descent and distribution; (c) pursuant to a domestic relations
                order,
                as defined in the Code; or (d) as to options, (i) to Family Members,
                (ii)
                to a partnership in which the participant and/or Family Members,
                or
                entities in which the participant and/or Family Members are the sole
                owners, members or beneficiaries, as appropriate, are the sole partners,
                (iii) to a limited liability company in which the participant and/or
                Family Members, or entities in which the participant and/or Family
                Members
                are the sole owners, members or beneficiaries, as appropriate, are
                the
                sole members, (iv) to a trust for the sole benefit of the participant
                and/or Family Members or (v) to a charitable organization. “Family
                Members” shall be defined as the participant’s child, stepchild,
                grandchild, parent, step-parent, grandparent, spouse, former spouse,
                sibling, niece, nephew, mother-in-law, father-in-law, son-in-law,
                daughter-in-law, brother-in-law, or sister-in-law, including adoptive
                relationships, and any person sharing the employee’s household (other than
                a tenant or employee). Any attempted assignment, transfer, pledge,
                hypothecation or other disposition of Incentives, or levy of attachment
                or
                similar process upon Incentives not specifically permitted herein,
                shall
                be null and void and without
                effect.

            

    

     

    
      	9.3.  	
              Effect
                of Termination of Employment or Death. In the event that a participant
                ceases to be an employee of the Company or to provide services to
                the
                Company for any reason, including death, disability, early retirement
                or
                normal retirement, any Incentives may be exercised, shall vest or
                shall
                expire at such times as may be determined by the Committee and provided
                in
                the Incentive Agreement.

            

    

     

    
      	9.4.  	
              Additional
                Conditions. Anything in this Plan to the contrary notwithstanding:
                (a) the
                Company may, if it shall determine it necessary or desirable for
                any
                reason, at the time of award of any Incentive or the issuance of
                any
                shares of Common Stock pursuant to any Incentive, require the recipient
                of
                the Incentive, as a condition to the receipt thereof or to the receipt
                of
                shares of Common Stock issued pursuant thereto, to deliver to the
                Company
                a written representation of present intention to acquire the Incentive
                or
                the shares of Common Stock issued pursuant thereto for his own account
                for
                investment and not for distribution; and (b) if at any time the Company
                further determines, in its sole discretion, that the listing, registration
                or qualification (or any updating of any such document) of any Incentive
                or the shares of Common Stock issuable pursuant thereto is necessary
                on
                any securities exchange or under any federal or state securities
                or blue
                sky law, or that the consent or approval of any governmental regulatory
                body is necessary or desirable as a condition of, or in connection
                with
                the award of any Incentive, the issuance of shares of Common Stock
                pursuant thereto, or the removal of any restrictions imposed on such
                shares, such Incentive shall not be awarded or such shares of Common
                Stock
                shall not be issued or such restrictions shall not be removed, as
                the case
                may be, in whole or in part, unless such listing, registration,
                qualification, consent or approval shall have been effected or obtained
                free of any conditions not acceptable to the
                Company.

            

    

     

    
      	9.5.  	
              Adjustment.
                In the event of any recapitalization, stock dividend, stock split,
                combination of shares or other similar change in the Common Stock,
                the
                number of shares of Common Stock then subject to the Plan, including
                shares subject to outstanding Incentives, and all limitations on
                the
                number of shares that may be issued hereunder shall be adjusted in
                proportion to the change in outstanding shares of Common Stock. In
                the
                event of any such adjustments, the purchase price of any option and
                the
                performance objectives of any Incentive, shall also be adjusted as
                and to
                the extent appropriate, in the reasonable discretion of the Committee,
                to
                provide participants with the same relative rights before and after
                such
                adjustment. No substitution or adjustment shall require the Company
                to
                issue a fractional share under the Plan and the substitution or adjustment
                shall be limited by deleting any fractional
                share.

            

    

     

    
      	9.6.  	
              Withholding.

            

    

     

    
      	A.  	
              The
                Company shall have the right to withhold from any stock issued under
                the
                Plan or to collect as a condition of issuance or vesting, any taxes
                required by law to be withheld. At any time that a participant is
                required
                to pay to the Company an amount required to be withheld under applicable
                income tax laws in connection with the lapse of restrictions on Common
                Stock or the exercise of an option, the participant has the right
                to
                satisfy this obligation in whole or in part by electing (the “Election”)
                to deliver currently owned shares of Common Stock or to have the
                Company
                withhold shares of Common Stock, in each case having a value equal
                to the
                minimum statutory amount required to be withheld under federal, state
                and
                local law. The value of the shares to be delivered or withheld shall
                be
                based on the Fair Market Value of the Common Stock on the date as
                of which
                the amount of tax to be withheld shall be determined (“Tax
                Date”).

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    
      	B.  	
              Each
                Election must be made prior to the Tax Date. If a participant makes
                an
                election under Section 83(b) of the Code with respect to shares of
                restricted stock, an Election to have shares withheld to satisfy
                withholding taxes is not permitted to be
                made.

            

    

     

    
      	9.7.  	
              No
                Continued Employment. No participant under the Plan shall have any
                right,
                because of his or her participation, to continue in the employ of
                the
                Company for any period of time or to any right to continue his or
                her
                present or any other rate of
                compensation.

            

    

     

    
      	9.8.  	
              Deferral
                Permitted. Payment of an Incentive may be deferred at the option
                of the
                participant if permitted in the Incentive
                Agreement.

            

    

     

    
      	9.9.  	
              Amendments
                to or Termination of the Plan. The Board may amend or discontinue
                this
                Plan at any time; provided, however, that no such amendment
                may:

            

    

     

    
      	A.  	
              without
                the approval of the shareholders, (i) except for adjustments permitted
                herein, increase the maximum number of shares of Common Stock that
                may be
                issued through the Plan, (ii) amend Section 6.6 to permit repricing
                of
                options. or (iii) make any other change for which shareholder approval
                is
                required by law or under the applicable rules of the NASDAQ;
                or

            

    

     

    
      	B.  	
              materially
                impair, without the consent of the recipient, an Incentive previously
                granted.

            

    

     

    
      	9.10.  	
              Change
                of Control.

            

    

     

    
      	A.  	
              A
                Change of Control shall mean:

            

    

     

    
      	i.  	
              the
                acquisition by any person of beneficial ownership of 50% or more
                of the
                outstanding shares of the Common Stock or 50% or more of the combined
                voting power of POOL’s then outstanding securities entitled to vote
                generally in the election of directors; provided, however, that for
                purposes of this subsection (i), the following acquisitions shall
                not
                constitute a Change of Control:

            

    

     

    
      	a.  	
              any
                acquisition (other than a Business Combination (as defined below)
                which
                constitutes a Change of Control under Section 9.10(A)(iii) hereof)
                of
                Common Stock directly from the
                Company,

            

    

     

    
      	b.  	
              any
                acquisition of Common Stock by the
                Company,

            

    

     

    
      	c.  	
              any
                acquisition of Common Stock by any employee benefit plan (or related
                trust) sponsored or maintained by the Company or any corporation
                controlled by the Company, or

            

    

     

    
      	d.  	
              any
                acquisition of Common Stock by any corporation pursuant to a Business
                Combination that does not constitute a Change of Control under Section
                9.10(A)(iii) hereof; or

            

    

     

    
      	ii.  	
              a
                majority of the directors of the Company shall be persons other than
                persons

            

    

     

    
      	a.  	
              for
                whose election proxies shall have been solicited by the Board,
                or

            

    

     

    
      	b.  	
              who
                are then serving as directors appointed by the Board to fill vacancies
                on
                the Board caused by death or resignation (but not by removal) or
                to fill
                newly-created directorships; or

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
      	iii.  	
              consummation
                of a reorganization, share exchange, merger or consolidation (including
                any such transaction involving any direct or indirect subsidiary
                of POOL)
                or sale or other disposition of all or substantially all of the assets
                of
                the Company (a “Business Combination”); provided, however, that in no such
                case shall any such transaction constitute a Change of Control if
                immediately following such Business
                Combination:

            

    

     

    
      	a.  	
              the
                individuals and entities who were the beneficial owners of POOL’s
                outstanding Common Stock and POOL’s voting securities entitled to vote
                generally in the election of directors immediately prior to such
                Business
                Combination have direct or indirect beneficial ownership, respectively,
                of
                more than 50% of the then outstanding shares of common stock, and
                more
                than 50% of the combined voting power of the then outstanding voting
                securities entitled to vote generally in the election of directors
                of the
                surviving or successor corporation, or, if applicable, the ultimate
                parent
                company thereof (the “Post-Transaction Corporation”),
                and

            

    

     

    
      	b.  	
              except
                to the extent that such ownership existed prior to the Business
                Combination, no person (excluding the Post-Transaction Corporation
                and any
                employee benefit plan or related trust of either POOL, the
                Post-Transaction Corporation or any subsidiary of either corporation)
                beneficially owns, directly or indirectly, 50% or more of the then
                outstanding shares of common stock of the corporation resulting from
                such
                Business Combination or 50% or more of the combined voting power
                of the
                then outstanding voting securities of such corporation,
                and

            

    

     

    
      	c.  	
              at
                least a majority of the members of the board of directors of the
                Post-Transaction Corporation were members of the Board at the time
                of the
                execution of the initial agreement, or of the action of the Board
                of
                Directors, providing for such Business Combination;
                or

            

    

     

    
      	iv.  	
              approval
                by the shareholders of POOL of a complete liquidation or dissolution
                of
                POOL.

            

    

     

    For
      purposes of this Section 9.10, the term “person” shall mean a natural person or
      entity, and shall also mean the group or syndicate created when two or more
      persons act as a syndicate or other group (including, without limitation, a
      partnership or limited partnership) for the purpose of acquiring, holding,
      or
      disposing of a security, except that “person” shall not include an underwriter
      temporarily holding a security pursuant to an offering of the security.

     

    
      	B.  	
              Upon
                a Change of Control of the type described in clause (A)(i) or (A)(ii)
                of
                this Section 9.10 or immediately prior to any Change of Control of
                the
                type described in clause (A)(iii) or (A)(iv) of this Section 9.10,
                all
                outstanding Incentives granted pursuant to this Plan shall automatically
                become fully vested and exercisable, all restrictions or limitations
                on
                any Incentives shall automatically lapse and, unless otherwise provided
                in
                the applicable Incentive Agreement, all performance criteria and
                other
                conditions relating to the payment of Incentives shall be deemed
                to be
                achieved or waived by POOL without the necessity of action by any
                person.
                As used in the immediately preceding sentence, ‘immediately prior’ to the
                Change of Control shall mean sufficiently in advance of the Change
                of
                Control to permit the grantee to take all steps reasonably necessary
                (i)
                if an optionee, to exercise any such option fully and (ii) to deal
                with
                the shares purchased or acquired under any such option and any formerly
                restricted shares on which restrictions have lapsed so that all types
                of
                shares may be treated in the same manner in connection with the Change
                of
                Control as the shares of Common Stock of other
                shareholders.

            

    

     

    
      	C.  	
              No
                later than 30 days after a Change of Control of the type described
                in
                subsections (A)(i) or (A)(ii) of this Section 9.10 and no later than
                30
                days after the approval by the Board of a Change of Control of the
                type
                described in subsections (A)(iii) or (A)(iv) of this Section 9.10,
                the
                Committee, acting in its sole discretion without the consent or approval
                of any participant (and notwithstanding any removal or attempted
                removal
                of some or all of the members thereof as directors or Committee members),
                may act to effect one or more of the alternatives listed below, which
                may
                vary among individual participants and which may vary among Incentives
                held by any individual participant:

            

    

     

    
      	i.  	
              require
                that all outstanding options be exercised on or before a specified
                date
                (before or after such Change of Control) fixed by the Committee,
                after
                which specified date all unexercised options and all rights of
                participants thereunder shall
                terminate,

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
      	ii.  	
              make
                such equitable adjustments to Incentives then outstanding as the
                Committee
                deems appropriate to reflect such Change of Control (provided, however,
                that the Committee may determine in its sole discretion that no adjustment
                is necessary),

            

    

     

    
      	iii.  	
              provide
                for mandatory conversion of some or all of the outstanding options
                held by
                some or all participants as of a date, before or after such Change
                of
                Control, specified by the Committee, in which event such options
                shall be
                deemed automatically cancelled and the Company shall pay, or cause
                to be
                paid, to each such participant an amount of cash per share equal
                to the
                excess, if any, of the Change of Control Value of the shares subject
                to
                such option, as defined and calculated below, over the exercise price
                of
                such options or, in lieu of such cash payment, the issuance of Common
                Stock or securities of an acquiring entity having a Fair Market Value
                equal to such excess, or

            

    

     

    
      	iv.  	
              provide
                that thereafter, upon any exercise of an option, the holder shall
                be
                entitled to purchase or receive under such option, in lieu of the
                number
                of shares of Common Stock then covered by such option, the number
                and
                class of shares of stock or other securities or property (including,
                without limitation, cash) to which the holder would have been entitled
                pursuant to the terms of the agreement providing for the reorganization,
                share exchange, merger, consolidation or asset sale, if, immediately
                prior
                to such Change of Control, the holder had been the record owner of
                the
                number of shares of Common Stock then covered by such
                option.

            

    

     

    
      	D.  	
              For
                the purposes of paragraph (iii) of Section 9.10(C), the "Change of
                Control
                Value" shall equal the amount determined by whichever of the following
                items is applicable:

            

    

     

    
      	i.  	
              the
                per share price to be paid to holders of Common Stock in any such
                merger,
                consolidation or other
                reorganization,

            

    

     

    
      	ii.  	
              the
                price per share offered to holders of Common Stock in any tender
                offer or
                exchange offer whereby a Change of Control takes
                place,

            

    

     

    
      	iii.  	
              in
                all other events, the fair market value per share of Common Stock
                into
                which such options being converted are exercisable, as determined
                by the
                Committee as of the date determined by the Committee to be the date
                of
                conversion of such options, or

            

    

     

    
      	iv.  	
              in
                the event that the consideration offered to holders of Common Stock
                in any
                transaction described in this Section 9.10 consists of anything other
                than
                cash, the Committee shall determine the fair cash equivalent of the
                portion of the consideration offered that is other than
                cash.

            

    

     

    
      	9.11.  	
              Definition
                of Fair Market Value. Whenever “Fair Market Value” of Common Stock shall
                be determined for purposes of this Plan, it shall be determined as
                follows: (i) if the Common Stock is listed on an established stock
                exchange or any automated quotation system that provides sale quotations,
                the closing sale price for a share of the Common Stock on such exchange
                or
                quotation system on the applicable date, or if no sale of the Common
                Stock
                shall have been made on that day, on the next preceding day on which
                there
                was a sale of the Common Stock; (ii) if the Common Stock is not listed
                on
                any exchange or quotation system, but bid and asked prices are quoted
                and
                published, the mean between the quoted bid and asked prices on the
                applicable date, and if bid and asked prices are not available on
                such
                day, on the next preceding day on which such prices were available;
                and
                (iii) if the Common Stock is not regularly quoted, the fair market
                value
                of a share of Common Stock on the applicable date as established
                by the
                Committee in good faith.

            

    

     

    
      	9.12.  	
              Incentive
                Agreements. Each award of an Incentive hereunder shall be evidenced
                by an
                agreement or notice delivered to the participant, by paper copy or
                electronic copy, that shall specify the terms and conditions thereof
                and
                any rules applicable thereto, including but not limited to the effect
                on
                such Incentive of the participant’s ceasing to be employed by or to
                provide services to the Company. The Incentive Agreement may also
                provide
                for the forfeiture of an Incentive in the event that the participant
                competes with the Company or engages in other activities that are
                harmful
                to or against the interests of the
                Company.

            

    

     

    
      
        
        

      

      
        7

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