Document:

Exhibit 10(e)

    Exhibit
      10(e)

    

    6
      Amended
      as of 7/27/2006

    

    

    2001
      STOCK OPTION PLAN

    

    

    1. Purpose
      and Scope of Plan

    

    The
      purpose of the Plan is to aid 1st Source Corporation (herein called the
      "Company") and its subsidiaries in securing and retaining key employees of
      outstanding ability and to motivate such employees to exert their best efforts
      on behalf of the Company and its subsidiaries. In addition, the Company expects
      that it will benefit from the added interest which the respective optionees
      will
      have in the welfare of the Company as a result of their ownership or increased
      ownership of the Company's Common Stock. The options which may be granted under
      the Plan are incentive stock options and nonstatutory stock options. For
      purposes of the plan, an "incentive stock option" is an option which meets
      the
      requirements of Section 422 of the Internal Revenue Code, and a nonstatutory
      stock option" is an option which is not an "incentive stock
      option."

    

    2. Stock
      Subject to the Plan

    

    The
      total
      number of shares of Common Stock of the Company that may be optioned under
      the
      Plan is 2,000,000, as adjusted after the effective date pursuant to Section
      6.
      The total number of shares that may be granted under the Plan to any employee
      during any calendar year shall not exceed 150,000 shares, as adjusted. Shares
      may consist, in whole or in part, of unissued shares or treasury shares. If
      any
      shares that have been optioned cease to be subject to option, they may again
      be
      optioned under the Plan. During the period that any options granted under the
      Plan are outstanding, the Company shall reserve and keep available such number
      of shares of Common Stock as will be sufficient to satisfy all outstanding
      unexercised options.

    

    3. Administration

    

    The
      Plan
      shall be administered by the Executive Compensation Committee of the Board
      of
      Directors, herein called the “Committee,” each member of which shall be a
“non-employee director” as provided under Rule 16b-3 of the Securities Exchange
      Act of 1934, as amended, and an “outside director” as provided under Section
      162(m) of the Internal Revenue Code of 1986, as amended. The Committee shall
      have the authority, consistent with the Plan:

    

    
      	 	
              (i)

            	
              To
                select the eligible employees to whom options shall be granted under
                the
                Plan;

            

    

    

    
      	 	
              (ii)

            	
              To
                determine the terms and conditions of each option including but not
                limited to the date of grant, the dates(s) of exercise, the number
                of
                shares of Common Stock subject to the option, the exercise price,
                and the
                restrictions, if any, to be imposed upon the transfer of shares purchased
                pursuant to the option;

            

    

    

    
      	 	
              (iii)

            	
              To
                prescribe the form of all stock option agreements and any other agreement
                or document which the Committee determines is appropriate in connection
                with the Plan;

            

    

    

    
      	 	
              (iv)

            	
              To
                prescribe rules and regulations for the administration of the
                Plan;

            

    

    

    
      	 	
              (v)

            	
              To
                construe and interpret any provision of the Plan and any option agreement
                or other agreement executed in connection with the Plan;
                and

            

    

    

    
      	 	
              (vi)

            	
              To
                determine whether the option is an incentive stock option or a
                nonstatutory stock option.

            

    

    
 

    
      
        
          
          

        

        
          -1-

          
            

          

        

        
          
          

        

      

    

    

    

    4. Eligibility

    

    Key
      employees, including officers or directors of the Company and its subsidiaries
      who are from time to time responsible for the management, growth and protection
      of the business of the Company and its subsidiaries, are eligible to be granted
      options under the Plan. The optionees under the Plan shall be selected from
      time
      to time by the Committee, in its sole discretion, from among those eligible,
      and
      the Committee shall determine in its sole discretion, the number of shares
      to be
      covered by the option or options granted to each optionee. 

    

    5. Terms
      and Conditions of Options

    

    All
      options granted under this Plan shall be subject to the foregoing, and to the
      following terms and conditions and to such other terms and conditions not
      inconsistent therewith, as the Committee shall determine.

    

    
      	 	
              5.1

            	
              The
                price to be paid for shares of Common Stock upon the exercise of
                each
                option shall be determined by the Committee at the time such option
                is
                granted, but such price in no event shall be less than the fair market
                value of the Common Stock on the date on which such option is granted.
                For
                purposes of the Plan, "fair market value" shall mean the closing
                price of
                a share of Common Stock, as reported by the Nasdaq Stock Market,
                or by any
                other exchange upon which the shares may be traded, on the day on
                which
                the value is to be determined or if that day is not a stock trading
                day,
                then on the last preceding stock trading day. Notwithstanding the
                foregoing, in the case of an incentive stock option granted to any
                person
                who, at the time of grant of such option, owns stock of the Company
                possessing more than 10% of the total combined voting power of all
                classes
                of stock of the Company, the option price must be at least 110% of
                the
                fair market value of the stock subject to the option and such option
                by
                its terms must not be exercisable after the expiration of five years
                from
                the date such option is granted.

            

    

    

    
      	 	
              5.2

            	
              Each
                option shall be exercisable during and over such period ending not
                later
                than ten years from the date it was granted, as may be determined
                by the
                Committee and stated in the option, except as otherwise required
                in
                Paragraph 5.1 above. No incentive stock option shall be granted after
                February 14, 2011.

            

    

    

    
      	 	
              5.3

            	
              In
                the case of incentive stock options, the aggregate fair market value
                (determined as of the date an incentive stock option is granted)
                of stock
                with respect to which stock options intended to meet the requirements
                of
                Code Section 422 become exercisable for the first time by an individual
                during any calendar year under all plans of the Company shall not
                exceed
                $100,000; provided further, that if the limitation is exceeded, the
                incentive stock option(s) which cause the limitation to be exceeded
                shall
                be treated as nonstatutory stock
                options.

            

    

    

    
      	 	
              5.4

            	
              Payment
                for shares purchased pursuant to exercise of an option shall be made
                either in cash or by check, or by delivery in exchange for such option
                shares Company shares with a fair market value on the date of exercise
                equal to the option price, or a combination of both. If Company shares
                are
                used, an optionee may tender only shares without legend that such
                optionee
                has owned for six months or longer prior to the exercise date of
                the
                option. Fair market value for the purpose of this Paragraph 5.4 shall
                have
                the same meaning as provided in Paragraph 5.1. No optionee shall
                have any
                rights to dividends or other rights of a stockholder with respect
                to
                shares subject to an option until such optionee has given written
                notice
                of exercise of such option and paid in full for such shares. Whenever
                the
                Company proposes or is required to issue or transfer shares of Common
                Stock under the Plan, the Company shall have the right to require
                the
                Optionee or his or her legal representative to remit to the Company
                an
                amount sufficient to satisfy any federal, state and/or local withholding
                tax requirements prior to the delivery of any certificate or certificates
                for such shares. If required by the Committee, or, pursuant to procedures
                established by the Committee, an Optionee so elects, shares of Common
                Stock having an aggregate fair market value, as determined by the
                Committee, consistent with the requirements of Treas. Reg. § 20.2031-2
                sufficient to satisfy the applicable withholding taxes, shall be
                withheld
                from the shares otherwise to be received upon the exercise of a
                non-qualified option. The maximum number of shares that may be withheld
                by
                the Company from option shares at the time of an option exercise
                shall not
                exceed the number of shares necessary to meet the optionee’s required tax
                withholding based on the minimum statutory withholding rates for
                federal
                and state tax purposes, including payroll taxes, that are applicable
                to
                the optionee’s supplemental taxable income generated by the
                exercise.

            

    

     

     

    
      
        
          
          

        

        
          -2-

          
            

          

        

        
          
          

        

      

    

    

    

    
      	 	
              5.5

            	
              The
                Committee shall, in its sole discretion, provide in an award agreement
                for
                the automatic grant of a new option to any optionee who delivers
                Company
                shares as full or partial payment of the exercise price of the original
                option. Any new option granted in such a case
                shall:

            

    

    

    
      	 	
              (i)

            	
              Be
                for the same number of shares as the optionee delivered in exercising
                the
                original option;

            

    

    

    
      	 	
              (ii)

            	
              Have
                an exercise price of 100% of the fair market value of the shares
                on the
                date of exercise of the original option (the grant date for the new
                option); and

            

    

    

    
      	 	
              (iii)

            	
              Have
                a term equal to the remaining term of the original
                option.

            

    

    

    Without
      limiting the foregoing, the Committee may provide that the new option otherwise
      issuable pursuant to this provision shall not be issued if certain conditions
      to
      be satisfied at the time of exercise of the initial option are not satisfied.
      Such conditions may include a requirement that the fair market value of the
      Common Stock at the time of exercise must exceed the exercise price of the
      original option by a prescribed amount or percentage.

    

    
      	 	
              5.6

            	
              If
                an optionee's employment by the Company or a subsidiary terminates
                by
                reason of the optionee's retirement, death or permanent and total
                disability, all of the optionee's outstanding options must thereafter
                be
                exercised during the period of twelve months after the date of the
                optionee's retirement, death or disability, or the stated period
                of the
                option, whichever period is shorter. Notwithstanding the foregoing,
                in the
                case of an incentive stock option, if an optionee's employment by
                the
                Company or a subsidiary terminates solely by reason of the optionee's
                retirement, all such outstanding options must thereafter be exercised
                during the period of three months after the date of the optionee's
                retirement, or the stated period of the option, whichever period
                is
                shorter.

            

    

    

    
      	 	
              5.7

            	
              If
                an optionee's employment by the Company or a subsidiary is terminated
                by
                reason other than retirement, death or permanent and total disability,
                all
                of the optionee's unexercised outstanding options, unless otherwise
                provided in an employment agreement, shall become null and
                void.

            

    

    

    
      	 	
              5.8

            	
              The
                Committee may require each person purchasing shares pursuant to the
                option
                to represent to and agree with the Company in writing that he/she
                is
                acquiring the shares without a view to distribution thereof. The
                certificates for such may include any legend which the Committee
                deems
                appropriate to reflect any restrictions on
                transfers.

            

    

    

    
      	 	
              5.9

            	
              Except
                as provided in Paragraph 5.10, no option granted pursuant to this
                Plan
                shall be transferable otherwise than by will or by the laws of descent
                and
                distribution, or pursuant to a qualified domestic relations order.
                The
                Company shall not be liable to any person for honoring the exercise
                of the
                option of a deceased optionee by the person or persons it shall have
                determined in good faith to have acquired the option. During the
                lifetime
                of an optionee, the option shall be exercisable only by the
                optionee.

            

    

    

    
      	 	
              5.10

            	
              Subject
                to such rules as the Committee may adopt to preserve the purposes
                of the
                Plan, an optionee may transfer a nonstatutory stock option without
                consideration to the following ("Permitted
                Transferees"):

            

    

    

    
      	 	
              (i)

            	
              a
                member of the optionee's immediate family, including only his or
                her
                spouse, lineal descendants, and adopted children, the spouse's lineal
                descendants and adopted children, and the legal representatives of
                any of
                those persons who are minors;

            

    

    

    
      	 	
              (ii)

            	
              an
                irrevocable trust solely for the benefit of the optionee and his
                or her
                immediate family;

            

    

    

    
      	 	
              (iii)

            	
              a
                partnership, limited liability company, or corporate entity whose
                sole
                owners of its capital interests are the optionee and his or her immediate
                family; or

            

    

    

    
      	 	
              (iv)

            	
              a
                revocable trust with respect to which the optionee, as settlor of
                the
                trust, retains the right of revocation or amendment until his or
                her
                death.

            

    

    

    Such
      a
      transfer shall be effective only if the optionee notifies the Committee in
      advance and in writing of the terms of the transfer and if the Committee
      determines that the transfer complies with the Plan and any applicable option
      agreement. Upon transfer, the option shall remain subject to the terms of the
      Plan and any applicable option agreement, except the Permitted Transferee may
      not transfer the option otherwise than by will or by the laws of descent and
      distribution.

    
 

    
      
        
          
          

        

        
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    6. Changes
      in Capital

    

    The
      aggregate number of shares available for options under this Plan, the shares
      subject to any option, and the option price provided for in the option
      agreements then outstanding, shall be proportionately adjusted to reflect any
      change in the number or kind of shares of stock resulting from: (1) a
      subdivision or consolidation of shares or any other capital adjustment, (2)
      the
      payment of a dividend, (3) an increase or decrease in the number of shares
      of
      issued stock effected without receipt of consideration by the Company (other
      than contributions of stock by the Company to any employee benefit plan), or
      (4)
      any transaction or occurrence which, in the judgment of the Committee, has
      a
      similar effect on the stock. Such an adjustment shall be made in any manner
      deemed by the Committee to equitably prevent the substantial dissolution or
      enlargement of the rights granted to, or available for, optionees under the
      Plan. In the event of a dissolution or liquidation of the Company or a merger,
      consolidation, sale of all or substantially all of its assets, or other
      corporate reorganization in which the Company is not the surviving corporation
      (other than a mere redomestication or similar transaction in which the
      operations and control are not materially affected), notwithstanding the terms
      and conditions otherwise set forth in the Plan, all options previously granted
      and still outstanding shall become exercisable.

    

    The
      Committee may provide in any option agreement that the option covered thereby
      shall become immediately exercisable in the event of a Change of Control. A
      “Change of Control” shall be deemed to have occurred if (i) any person or group
      of persons (as defined in Section 13(d) and 14(d) of the Securities Exchange
      Act
      of 1934) together with its affiliates, excluding employee benefit plans of
      the
      Company, is or becomes, directly or indirectly, the “beneficial owner” (as
      defined in Rule 13d-3 promulgated under the Securities and Exchange Act of
      1934)
      of securities of the Company representing 20% or more of the combined voting
      power of the Company’s then outstanding securities; or (ii) the first day on
      which a majority of the members of the Board of Directors of the Company are
      not
      Continuing Directors. “Continuing Directors” means, as of the date of
      determination, any member of the Board of Directors of the Company who (a)
      was a
      member of such Board of Directors on July 1, 2004 or (b) was nominated for
      election or elected to such Board of Directors with the approval of a majority
      of the Continuing Directors who were members of such Board at the time of such
      nomination or election; or (iii) any event that the Company’s Board of Directors
      determines should constitute a Change of Control. 

    

    7. Use
      of Proceeds

    

    Proceeds
      from the sale of stock pursuant to options granted under this Plan shall
      constitute general funds of the Company.

    

    8. Amendments

    

    The
      Board
      of Directors may amend, alter, suspend or discontinue the Plan, but no
      amendment, alteration or discontinuation shall be made which would impair the
      rights of any optionee under any option theretofore granted, without the
      optionee's consent, or which, without the approval of the shareholders, would,
      except as is provided in Paragraph 6 of the Plan:

    

    
      	 	
              (i)

            	
              Increase
                the total number of shares reserved for the purposes of the
                Plan.

            

    

    

    
      	 	
              (ii)

            	
              Change
                the employees (or class of employees) eligible to receive options
                under
                the Plan.

            

    

    

    
      	 	
              (iii)

            	
              Change
                the class of shares for which options may be
                granted.

            

    

    

    
      	 	
              (iv)

            	
              Change
                the provisions of Paragraph 5.1 concerning the exercise
                price.

            

    

    

    
      	 	
              (v)

            	
              Change
                the provisions of Paragraph 5.2 concerning the maximum term of the
                options.

            

    

    

    

    9. Effective
      Date of the Plan

    

    The
      effective date of the Plan shall be the date that the Plan is approved by a
      majority vote of the holders of the total outstanding Common Stock of the
      Company.

    

    10. Miscellaneous

    

    The
      term
      "Board of Directors" as used herein shall mean the Board of Directors of the
      Company and not a committee thereof.

    
 

    
      
        
        

      

      
        -4-Exhibit 10(g)

    Exhibit
      10(g)

    

    5.6
      Amended as of 1/24/94

    5.8
      Amended as of 2/19/97

    5.9
      and 5.10 Added as of 2/19/97

    2
      and 3 Amended as of 4/17/97

    5.10
      Deleted as of 12/11/97

    5.4
      Amended as of 7/18/2000 

    6
      Amended as of 7/27/2006

    
 

    1992
      STOCK OPTION PLAN

    

    1. Purpose
      and Scope of Plan

    

    The
      purpose of the Plan is to aid 1st Source Corporation (herein called the
      "Company") and its subsidiaries in securing and retaining key employees of
      outstanding ability and to motivate such employees to exert their best efforts
      on behalf of the Company and its subsidiaries. In addition, the Company expects
      that it will benefit from the added interest which the respective optionees
      will
      have in the welfare of the Company as a result of their ownership or increased
      ownership of the Company's Common Stock. The options which may be granted under
      the Plan are incentive stock options and nonstatutory stock options. For
      purposes of the plan, an "incentive stock option" is an option which meets
      the
      requirements of Section 422 of the Internal Revenue Code, and a nonstatutory
      stock option" is an option which is not an "incentive stock
      option."

    

    2. Stock
      Subject to the Plan

    

    The
      total
      number of shares of Common Stock of the Company that may be optioned under
      the
      Plan is 500,000, as adjusted after the effective date pursuant to Section 6.
      The
      total number of shares that may be granted under the Plan to any employee during
      any calendar year shall not exceed 100,000 shares, as adjusted. Shares may
      consist, in whole or in part, of unissued shares or treasury shares. If any
      shares that have been optioned cease to be subject to option, they may again
      be
      optioned under the Plan. During the period that any options granted under the
      Plan are outstanding, the Company shall reserve and keep available such number
      of shares of Common Stock as will be sufficient to satisfy all outstanding
      unexercised options.

    

    3. Administration

    

    The
      Plan
      shall be administered by the Executive Compensation Committee of the Board
      of
      Directors, herein called the “Committee,” each of whom shall be a “non-employee
      director” as provided under Rule 16b-3 of the Securities Exchange Act of 1934,
      as amended, and an “outside director” as provided under Section 162(m) of the
      Internal Revenue Code of 1986, as amended. The Committee shall have the
      authority, consistent with the Plan:

    

    
      	 	
              (i)

            	
              To
                select the eligible employees to whom options shall be granted under
                the
                Plan;

            

    

    

    
      	 	
              (ii)

            	
              To
                determine the terms and conditions of each option including but not
                limited to the date of grant, the dates(s) of exercise, the number
                of
                shares of Common Stock subject to the option, and the restrictions,
                if
                any, to be imposed upon the transfer of shares purchased pursuant
                to the
                option;

            

    

    

    
      	 	
              (iii)

            	
              To
                prescribe the form of all stock option agreements and any other agreement
                or document which the Committee determines is appropriate in connection
                with the Plan;

            

    

    

    
      	 	
              (iv)

            	
              To
                prescribe rules and regulations for the administration of the
                Plan;

            

    

    

    
      	 	
              (v)

            	
              To
                construe and interpret any provision of the Plan and any option agreement
                or other agreement executed in connection with the Plan;
                and

            

    

    

    
      	 	
              (vi)

            	
              To
                determine whether the option is an incentive stock option or a
                nonstatutory stock option.

            

    

    
 

    
      
        
        

      

      
        -1-

        
          

        

      

      
        
        

      

    

    

    4. Eligibility

    

    Key
      employees, including officers or directors of the Company and its subsidiaries
      who are from time to time responsible for the management, growth and protection
      of the business of the Company and its subsidiaries, are eligible to be granted
      options under the Plan. The optionees under the Plan shall be selected from
      time
      to time by the Committee, in its sole discretion, from among those eligible,
      and
      the Committee shall determine in its sole discretion, the number of shares
      to be
      covered by the option or options granted to each optionee. A member of the
      Committee shall not be eligible to participate in the Plan.

    

    5. Terms
      and Conditions of Options

    

    All
      options granted under this Plan shall be subject to the foregoing, and to the
      following terms and conditions and to such other terms and conditions not
      inconsistent therewith, as the Committee shall determine.

    

    
      	 	
              5.1

            	
              The
                price to be paid for shares of Common Stock upon the exercise of
                each
                option shall be determined by the Committee at the time such option
                is
                granted, but such price in no event shall be less than the fair market
                value of the Common Stock on the date on which such option is granted.
                For
                purposes of the Plan, "fair market value" shall mean the closing
                price of
                a share of Common Stock, as reported by NASDAQ, or by any other exchange
                upon which the shares may be traded, on the day on which the value
                is to
                be determined or if that day is not a stock trading day, then on
                the last
                preceding stock trading day. Notwithstanding the foregoing, in the
                case of
                an incentive stock option granted to any person who, at the time
                of grant
                of such option, owns stock of the Company possessing more than 10%
                of the
                total combined voting power of all classes of stock of the Company,
                the
                option price must be at least 110% of the fair market value of the
                stock
                subject to the option and such option by its terms must not be exercisable
                after the expiration of five years from the date such option is
                granted.

            

    

    

    
      	 	
              5.2

            	
              Each
                option shall be exercisable during and over such period ending not
                later
                than ten years from the date it was granted, as may be determined
                by the
                Committee and stated in the option, except as otherwise required
                in
                Paragraph 5.1 above. No incentive stock option shall be granted after
                March 4, 2002.

            

    

    

    
      	 	
              5.3

            	
              No
                option shall be exercisable for six months following the date of
                grant.

            

    

    

    
      	 	
              5.4

            	
              Payment
                for shares purchased pursuant to exercise of an option shall be made
                either in cash or by check, or by delivery in exchange for such option
                shares Company shares with a fair market value on the date of exercise
                equal to the option price, or a combination of both. If Company shares
                are
                used, an optionee may tender only shares without legend that such
                optionee
                has owned for six months or longer prior to the exercise date of
                the
                option; provided, however, that as to options issued before this
                amendment
                this provision shall bind only option holders who consent to it.
                Fair
                market value for the purpose of this Paragraph 5.4 shall have the
                same
                meaning as provided in Paragraph 5.1. No optionee shall have any
                rights to
                dividends or other rights of a stockholder with respect to shares
                subject
                to an option until such optionee has given written notice of exercise
                of
                such option and paid in full for such shares. The maximum number
                of shares
                that may be withheld by the Company from option shares at the time
                of an
                option exercise shall not exceed the number of shares necessary to
                meet
                the optionee’s required tax withholding based on the minimum statutory
                withholding rates for federal and state tax purposes, including payroll
                taxes, that are applicable to the optionee’s supplemental taxable income
                generated by the exercise.

            

    

    

    
      	 	
              5.5

            	
              If
                an optionee's employment by the Company or a subsidiary terminates
                by
                reason of the optionee's retirement, death or permanent and total
                disability, all of the optionee's outstanding options must thereafter
                be
                exercised during the period of twelve months after the date of the
                optionee's retirement, death or disability, or the stated period
                of the
                option, whichever period is shorter. Notwithstanding the foregoing,
                in the
                case of an incentive stock option, if an optionee's employment by
                the
                Company or a subsidiary terminates solely by reason of the optionee's
                retirement, all such outstanding options must thereafter be exercised
                during the period of three months after the date of the optionee's
                retirement, or the stated period of the option, whichever period
                is
                shorter.

            

    

    

    
      	 	
              5.6

            	
              If
                an optionee's employment by the Company or a subsidiary is terminated
                by
                reason other than retirement, death or permanent and total disability,
                all
                of the optionee's unexercised outstanding options, unless otherwise
                provided in an employment agreement, shall become null and
                void.

            

    

    

    
      	 	
              5.7

            	
              The
                Committee may require each person purchasing shares pursuant to the
                option
                to represent to and agree with the Company in writing that he/she
                is
                acquiring the shares without a view to distribution thereof. The
                certificates for such may include any legend which the Committee
                deems
                appropriate to reflect any restrictions on
                transfers.

            

    

    
 

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    
 

    
      	 	
              5.8

            	
              Except
                as provided in Paragraph 5.9, no option granted pursuant to this
                Plan
                shall be transferable otherwise than by will or by the laws of descent
                and
                distribution, or pursuant to a qualified domestic relations order.
                The
                Company shall not be liable to any person for honoring the exercise
                of the
                option of a deceased optionee by the person or persons it shall have
                determined in good faith to have acquired the option. During the
                lifetime
                of an optionee, the option shall be exercisable only by the
                optionee.

            

    

    

    

    
      	 	
              5.9

            	
              Subject
                to such rules as the Committee may adopt to preserve the purposes
                of the
                Plan, an optionee may transfer a nonstatutory stock option without
                consideration to the following ("Permitted
                Transferees"):

            

    

    

    
      	 	
              (i)

            	
              a
                member of the optionee's immediate family, including only his or
                her
                spouse, lineal descendants, and adopted children, the spouse's lineal
                descendants and adopted children, and the legal representatives of
                any of
                those persons who are minors;

            

    

    

    
      	 	
              (ii)

            	
              an
                irrevocable trust solely for the benefit of the optionee and his
                or her
                immediate family;

            

    

    

    
      	 	
              (iii)

            	
              a
                partnership, limited liability company, or corporate entity whose
                sole
                owners of its capital interests are the optionee and his or her immediate
                family; or

            

    

    

    
      	 	
              (iv)

            	
              a
                revocable trust with respect to which the optionee, as settlor of
                the
                trust, retains the right of revocation or amendment until his or
                her
                death.

            

    

    

    Such
      a
      transfer shall be effective only if the optionee notifies the Committee in
      advance and in writing of the terms of the transfer and if the Committee
      determines that the transfer complies with the Plan and any applicable option
      agreement. Upon transfer, the option shall remain subject to the terms of the
      Plan and any applicable option agreement, except the Permitted Transferee may
      not transfer the option otherwise than by will or by the laws of descent and
      distribution.

    

    6.  Changes
      in Capital

    

    The
      aggregate number of shares available for options under this Plan, the shares
      subject to any option, and the option price provided for in the option
      agreements then outstanding, shall be proportionately adjusted to reflect any
      change in the number or kind of shares of stock resulting from: (1) a
      subdivision or consolidation of shares or any other capital adjustment,
      (2) the payment of a dividend, (3) an increase or decrease in the number of
      shares of issued stock effected without receipt of consideration by the Company
      (other than contributions of stock by the Company to any employee benefit plan),
      or (4) any transaction or occurrence which, in the judgment of the Committee,
      has a similar effect on the stock. Such an adjustment shall be made in any
      manner deemed by the Committee to equitably prevent the substantial dissolution
      or enlargement of the rights granted to, or available for, optionees under
      the
      Plan. In the event of a dissolution or liquidation of the Company or a merger,
      consolidation, sale of all or substantially all of its assets, or other
      corporate reorganization in which the Company is not the surviving corporation
      (other than a mere redomestication or similar transaction in which the
      operations and control are not materially affected), notwithstanding the terms
      and conditions otherwise set forth in the Plan, all options previously granted
      and still outstanding shall become exercisable.

    

    7. Use
      of Proceeds

    

    Proceeds
      from the sale of stock pursuant to options granted under this Plan shall
      constitute general funds of the Company.

    

    8. Amendments

    

    The
      Board
      of Directors may amend, alter, suspend or discontinue the Plan, but no
      amendment, alteration or discontinuation shall be made which would impair the
      rights of any optionee under any option theretofore granted, without the
      optionee's consent, or which, without the approval of the shareholders,
      would:

    

    
      	 	
              (i)

            	
              Except
                as is provided in Paragraph 6 of the Plan, increase the total number
                of
                shares reserved for the purposes of the
                Plan.

            

    

    

    
      	 	
              (ii)

            	
              Change
                the employees (or class of employees) eligible to receive options
                under
                the Plan.

            

    

    

    
      	 	
              (iii)

            	
              Change
                the class of shares for which options may be
                granted.

            

    

    
 

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

    

    
      	 	
              (iv)

            	
              Change
                the provisions of Paragraph 5.1 concerning the exercise
                price.

            

    

    

    
      	 	
              (v)

            	
              Change
                the provisions of Paragraph 5.2 concerning the maximum term of the
                options.

            

    

    

    9. Effective
      Date of the Plan

    

    The
      effective date of the Plan shall be the date that the Plan is approved by a
      majority vote of the holders of the total outstanding Common Stock of the
      Company.

    

    10. Miscellaneous

    

    The
      term
      "Board of Directors" as used herein shall mean the Board of Directors of the
      Company and not a committee thereof

     

     

    
      
        
        

      

      
        -4-

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