Document:

EXHIBIT 4(A)

                        STEWARDSHIP FINANCIAL CORPORATION
                           DIVIDEND REINVESTMENT PLAN

1. THE COMPANY

      Stewardship Financial Corporation (the "Company") was organized in
January, 1995 as a business corporation under the laws of the State of New
Jersey by the Board of Directors of Atlantic Stewardship Bank (the "Bank"). The
Bank is a wholly owned banking subsidiary of the Company. The Bank is a New
Jersey state chartered commercial bank formed in 1985. The Bank incorporates a
provision in its bylaws for tithing ten percent (10%) of its pretax profits to
Christian charities. The offices of the Company and the Bank are located at 630
Godwin Avenue, Midland Park, New Jersey 07432-1405.

      The Company publishes annual and quarterly reports and proxy statements
which are made available to its shareholders. All such reports are hereby
incorporated by reference into the description of the Company in this Dividend
Reinvestment Plan (the "Plan"). The Company will provide, without charge, to
each person to whom a copy of this Plan is delivered, on the oral or written
request of any such person, a copy of any or all of the foregoing documents.
Written requests for such copies should be directed to Stewardship Financial
Corp., 630 Godwin Avenue, Midland Park, New Jersey 07432, Attention: Corporate
Services, and oral requests may be made by calling 201-444-7100 or 877-844-BANK.
The website is www.asbnow.com.

2. THE PLAN

      The Plan described in this brochure offers you the opportunity to increase
your investment in the Company with no brokerage commissions or administrative
fees of any kind. The Plan permits you to use your cash dividends to purchase
additional whole and fractional shares of the Company's common stock (the
"Common Stock"). The Plan is administered by a `1committee of the Company's
Board of Directors (the "Committee").

3. INVESTMENT CONSIDERATIONS

      The purchase price of shares of Common Stock purchased by a participant
under the Plan with any reinvested dividends on the date any dividend is paid
(the "Dividend Payment Date") shall be 95% of the average market price of shares
of Common Stock sold in the 14 day period preceding the Dividend Payment Date.
The shares will be purchased from either the authorized but unissued shares of
Common Stock held by the Company and/or on the open market, by agents
independent of the Company and its affiliates.

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EACH PARTICIPANT IN THE PLAN SHOULD RECOGNIZE THAT NEITHER THE COMPANY NOR ANY
AGENT ADMINISTERING THE PLAN FOR THE COMPANY CAN PROVIDE ANY ASSURANCE THAT
SHARES OF COMMON STOCK PURCHASED UNDER THE PLAN WILL, AT ANY TIME, BE WORTH MORE
OR LESS THAN THEIR PURCHASE PRICE.

      Any corporate or partnership shareholder whose purchases under this Plan
increase its holdings of Common Stock to 5% or more of the Company's then
outstanding shares will need prior Federal Reserve Board approval to purchase
their shares. Any subscriber (whether or not a corporation or partnership) whose
stock purchase would increase his or its holdings of Common Stock to 10% or more
of the Company's then outstanding shares will need prior Federal Reserve Board
and New Jersey Department of Banking and Insurance approval to purchase such
shares.

      Shares of Common Stock purchased under the Plan are NOT deposit accounts
of the Bank and are NOT insured by the Federal Deposit Insurance Corporation or
any other governmental organization. Shares of Common Stock are subject to
market risk and possible loss of investment.

4. DIVIDEND REINVESTMENT

      The Plan permits you to invest your Company cash dividends in additional
shares of the Common Stock. Instead of sending your regular dividend check to
you, the Company will use your dividend to purchase whole and fractional shares
of Common Stock and credit them to your account. Dividends on the shares
credited to your account under the Plan will also be reinvested for you, thereby
compounding your investment. All shares purchased pursuant to the Plan will be
purchased from either the authorized but unissued shares of Common Stock held by
the Company and/or on the open market, by agents independent of the Company and
its affiliates.

      The purchase price for shares of Common Stock purchased through the Plan
will be 95% of the average price of shares of the Company sold in the open
market in the 14 day period preceding the dividend payment date.

5. COST TO YOU

      The Company will pay all brokerage commissions and administrative fees
connected with your participation in the Plan.

6. ACCOUNT STATEMENTS

      You will receive an account statement from the Company each time that
shares are purchased for you under the Plan. The statement will show the total
number of whole and fractional shares in your account to date, as well as the
amount of the most recent dividend, the number of shares purchased and the price
per share. The price is the average price of all shares purchased under the Plan
in connection with a given dividend. You should retain all account statements
for your personal accounting and record keeping purchases.

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7. ELIGIBILITY

      All shareholders of record of Common Stock are eligible to participate in
the Plan and may do so by completing an Authorization Card.

8. ENROLLMENT

      To enroll in the Plan, just complete an authorization card and return it
to Registrar and Transfer Company, 10 Commerce Drive, Cranford NJ 07016-3572. If
your signed authorization card is received at least 15 days before a dividend
payment date, the Plan will go into effect for you with that dividend.
Otherwise, your participation will be deferred until the next dividend. Your
participation in the Plan will apply to all shares that are registered to you at
time of enrollment, plus all shares that you acquire while your authorization
remains in effect. If you sell all of your shares for which you have a
certificate, but your participation in the Plan is not terminated, dividends on
the shares held in your account under the Plan will continue to be reinvested.

9. TAXATION OF DIVIDENDS

      YOU WILL BE TAXED ON THE DIVIDENDS THAT ARE REINVESTED ON YOUR BEHALF,
JUST THE SAME AS YOU WOULD HAVE BEEN IF THEY HAD BEEN PAID DIRECTLY TO YOU. In
addition, the amount of any administrative fees paid for you by the Company in
connection with the purchase of shares will be taxed as a dividend to you. At
year-end, the Company will send all applicable tax information to you and to the
Internal Revenue Service. If you have any remaining tax questions, you should
consult your personal tax advisor.

10. CERTIFICATES

      Shares purchased for your account under the Plan will normally be held by
the Company, without charge. If you wish, however, a certificate or certificates
for whole shares credited to your account will be delivered to you upon your
written request to the Company.

11. VOTING OF SHARES

      You will be given the right to vote any shares including fractional shares
held for you under the Plan on the record date for a vote. Shares for which no
voting directions are received will not be voted.

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12. FRACTIONAL SHARES

      While you are a participant in the Plan, the entire amount of your
dividend will be used to purchase shares of Common Stock. If the amount is not
equal to an exact number of whole shares, your account will be credited with a
fractional share (calculated to four decimal places). A fractional share will
earn dividends for you, in proportion to the size of the fraction just as full
shares do.

13. WITHDRAWAL FROM THE PLAN

      You may terminate your participation in the Plan at any time and for any
reason. To withdraw from the Plan, simply give written notice to the Committee
at least 15 days before a dividend payment date. Upon termination, you will
receive a certificate for the number of whole shares credited to your account
under the Plan, plus a check for any fraction of a share, valued at the then
current market price of the Common Stock.

14. QUESTIONS AND CORRESPONDENCE

      Please direct all questions and correspondence regarding the Plan to:
Stewardship Financial Corporation, Stock Compensation Committee, 630 Godwin
Avenue Midland Park, NJ 07432

15. TERMS AND CONDITIONS

      (a) PARTICIPATION; AGENT: The Stewardship Financial Corporation Dividend
Reinvestment Plan ("Plan") is available to shareholders of record of the Common
Stock of the Company. The Committee, acting as agent for each participant in the
Plan, will apply cash dividends which become payable to such participant on
shares of Common Stock (including shares held in the participant's name and
shares accumulated under the Plan), to the purchase of additional whole and
fractional shares of stock for such participant.

      (b) PRICE; STOCK PURCHASES: The purchase price for shares of common stock
purchased under this Plan shall be 95% of the average price of shares of Common
Stock sold in the open market for the fourteen (14) day period preceding the
dividend payment date. In making purchases for the accounts of participants, the
Committee may commingle the funds of one participant with those of other
participants in the Plan. In the case of each purchase, the price per share for
each participant's account shall be deemed to be the average price of all shares
purchased with the funds available from that dividend. The shares will be
purchased from either the authorized but unissued shares of Common Stock held by
the Company and/or on the open market, by agents independent of the Company and
its affiliates. The Committee shall have no responsibility with respect to the
market value of Common Stock acquired for participants under the Plan.

      (c) ACCOUNT STATEMENTS: Following each purchase of shares, the Company
will mail to each participant an account statement showing the cash dividends,
the number of shares purchased, the price per share, and the participant's total
shares accumulated under the Plan.

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      (d) EXPENSES: There will be no expenses to participants for the
administration of the Plan. Administrative fees associated with the Plan, if
any, will be paid by the Company.

      (e) TAXATION OF DIVIDENDS: The reinvestment of dividends does not relieve
the participant of any taxes which may be payable on such dividends. Dividends
paid on accumulated shares, will be included in an annual information return
filed with the Internal Revenue Service. A copy of the return will be sent to
the participant, or the information included in the return will be shown on the
participant's final account statement for the year.

      (f) STOCK CERTIFICATES: No share certificates will be issued to a
participant unless the participant so requests or until the participant's
account is terminated. Such requests must be made in writing to the Corporate
Services Division.

      (g) VOTING OF SHARES: In connection with any matter requiring the vote of
shareholders of the Company, Plan participants shall be entitled to vote all
whole shares held in the Plan. Fractional shares will not be voted.

      (h) TERMINATION OF PARTICIPATION. A participant may terminate
participation in the Plan at any time by written instructions to the Committee.
To be effective on a dividend payment date, the Notice of Termination must be
received by the Committee at least 30 days before that dividend payment date.
Upon receipt of Notice of Termination from the participant, the Committee will
send to the participant a certificate for all whole shares in the participant's
account. Fractional shares credited to the terminated account will be paid in
cash at the then prevailing market rate. The Committee may also terminate any
participant's account at any time in its discretion by notice in writing mailed
to the participant.

      (i) STOCK DIVIDENDS, STOCK SPLITS, RIGHTS: Any stock dividends or stock
splits on Common Stock applicable to shares belonging to a participant under the
Plan, whether held in the participant's account or in the participant's own
name, will be credited to the participant's account. In the event the Company
makes available to its shareholders rights to purchase additional shares or
securities, participants under the Plan will receive a subscription warrant for
all such rights directly from the Company.

      (j) LIMITATION OF LIABILITY: Neither the Company, the Committee, nor any
party serving on the Committee, shall have any responsibility beyond the
exercise of ordinary care for any action taken or omitted pursuant to this
agreement; nor shall they have any duties, responsibilities or liabilities
except as are expressly set forth herein; nor shall they be liable for any act
done in good faith or for any good faith omission to act; nor shall they have
any liability in connection with an inability to purchase shares or with respect
to the timing or the price of any purchase.

      (k) AMENDMENT OF PLAN: This agreement may be amended, supplemented or
terminated by the Company or the Committee at any time by the delivery of
written notice to each participant at least 30 days prior to the effective date
of the amendment, supplement or termination. Any amendment or supplement shall
be deemed to be accepted by the participant unless, prior to its effective date,
the Committee receives written Notice of Termination of the participant's
account.

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      (l) GOVERNING LAW: This agreement and the authorization card signed by the
participant (which is deemed a part of this agreement) and the participant's
account shall be governed by and construed in accordance with the laws of the
State of New Jersey. This agreement cannot be changed orally.

                                       6EXHIBIT 4.1

                                    IPI, INC.
                                      1994
                      LONG-TERM INCENTIVE PLAN, AS AMENDED
                                 April 26, 2000

             The purpose of the IPI, Inc. 1994 Long-Term Incentive Plan (the
"Plan") is to promote the growth and profitability of IPI, Inc. (the "Company")
and its affiliates by providing its key executives with an incentive to achieve
long-term corporate objectives, to attract and retain executives of outstanding
competence, and to provide such executives with an equity interest in the
Company.

         1. STOCK SUBJECT TO PLAN.

                  a. AGGREGATE LIMIT. An aggregate of 500,000 shares (the
         "Shares") of the Common Stock, $.01 par value, of the Company ("Common
         Stock") may be subject to awards granted under the Plan. Such Shares
         may be authorized but unissued Common Stock or authorized and issued
         Common Stock that has been or may be acquired by the Company. Except to
         the extent provided in paragraph 6.b., Shares that are subject to an
         award which expires or is terminated unexercised, or which are
         reacquired by the Company upon the forfeiture of restricted Shares,
         shall again be available for issuance under the Plan.

                  b. INDIVIDUAL LIMIT. Not more than 110,000 Shares may be
         subject to awards granted to any one employee during any calendar year.
         If an award granted to an employee is canceled, the canceled award
         shall continue to be counted against the maximum number of shares for
         which awards may be granted to that employee. If, after grant, the
         exercise price of a stock option is reduced, the transaction shall be
         treated as a cancellation of the option and the grant of a new option
         for purposes of this paragraph l(b).

         2. ADMINISTRATION.

                  a. COMMITTEE. The Plan shall be administered by a Committee
         (the "Committee"), which Committee shall either (i) be comprised of the
         entire Board of Directors of the Company (the "Board") or (ii) be
         appointed by the Board and consist of not less than two members of the
         Board, each of whom shall be a "Non-employee Director" within the
         meaning of Rule 16b-3 of the Securities Exchange Act of l934, as
         amended (the "Act"). For as long as it continues to satisfy these
         requirements, the Compensation Committee of the Board shall serve as
         the Committee.

                  b. POWERS AND DUTIES. The Committee shall have sole discretion
         and authority to make rules and regulations governing the
         administration of the Plan; to select the eligible employees to whom
         awards shall be granted; to determine the type, price, amount, size,
         and terms of awards; to determine the time when awards shall be
         granted; to determine whether any restrictions shall be placed on
         Shares purchased pursuant to any option or issued pursuant to any
         award; and to make all other

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         determinations necessary or advisable for the administration of the
         Plan. The Committee's determinations need not be uniform, and may be
         made by it selectively among persons who are eligible to receive awards
         under the Plan, whether or not such persons are similarly situated. All
         interpretations, decisions, or determinations made by the Committee
         pursuant to the Plan shall be final and conclusive.

         3. ELIGIBILITY. Any key employee of the Company or of any of its
Affiliates shall be eligible to receive awards under the Plan; provided, that no
awards shall be made to any member of the Committee or to any director of the
Company who is not an Employee of the Company or an Affiliate. For the purposes
of this Plan, an "Affiliate" of the Company is any corporation that is a "parent
corporation" or a "subsidiary corporation" with respect to the Company, as
determined in accordance with Sections 424(e) and (f) of the Internal Revenue
Code of 1986 (the "Code").

         4. AWARDS. The Committee may make awards to eligible employees in the
form of stock options, stock appreciation rights, restricted stock, performance
awards, or any combination thereof.

         5. STOCK OPTIONS. A stock option granted pursuant to the Plan shall
entitle the optionee, upon exercise, to purchase Shares at a specified price
during a specified period. Such options may be options which are intended to
qualify as "Incentive Stock Options" within the meaning of Section 422 of the
Code, options which are not intended to so qualify ("Nonqualified Options"), or
options which are a combination of Incentive Stock Options and Nonqualified
Options. Options shall be subject to such terms and conditions as the Committee
shall from time to time approve; provided, that each option shall be subject to
the following requirements:

                  a. TYPE OF OPTION. Each option shall be identified in the
         agreement pursuant to which it is granted as an Incentive Stock Option
         or as a Nonqualified Option, as the case may be. If a combination of
         Incentive Stock Options and Nonqualified Options are granted pursuant
         to a single agreement, the agreement shall specify the extent to which
         the options are Incentive Stock Options and the extent to which they
         are Nonqualified Options.

                  b. TERM. No option shall be exercisable within six months, or
         more than ten years, after the date on which it is granted.

                  c. PAYMENT. The purchase price of Shares subject to an option
         shall be payable in full at the time the option is exercised. Payment
         may be made in cash, in shares of Common Stock having a fair market
         value which is not less than the option price on the date of exercise,
         or by a combination of cash and such shares, as the Committee may
         determine, and

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         subject to such terms and conditions as the Committee deems
         appropriate.

                  d. OPTIONS NOT TRANSFERABLE. Options shall not be transferable
         except to the extent permitted by the agreement evidencing such option;
         provided, that in no event shall any option be transferable by the
         optionee, other than by will or the laws of descent and distribution,
         and shall be exercisable during an optionee's lifetime only by such
         optionee.

                  e. INCENTIVE STOCK OPTIONS. If an option is an Incentive Stock
         Option, it shall be subject to the following additional requirements:

                           (1) The purchase price of Shares that are subject to
                  an Incentive Stock Option shall not be less than 100% of the
                  fair market value of such Shares at the time the option is
                  granted, as determined in good faith by the Committee.

                           (2) The aggregate fair market value (determined at
                  the time the option is granted) of the Shares with respect to
                  which Incentive Stock Options become exercisable by the
                  optionee for the first time during any calendar year, under
                  this Plan or any other plan of the company or any Affiliate,
                  shall not exceed $l00,000.

                           (3) The purchase price of Shares that are subject to
                  an Incentive Stock Option that is granted to an employee who,
                  at the time such option is granted, owns 10% or more of the
                  total combined voting power of all classes of stock of the
                  Company or of any Affiliate shall not be less than 110% of the
                  fair market value of such Shares on the date such option is
                  granted, and such option may not be exercisable more than five
                  years after the date on which it is granted. For the purposes
                  of this subparagraph, the rules of Section 424(d) of the Code
                  shall apply in determining the stock ownership of any
                  employee.

Subject to the foregoing, options may be made exercisable in one or more
installments, upon the happening of certain events, upon the fulfillment of
certain conditions, or upon such other terms and conditions as the Committee
shall determine.

         6. STOCK APPRECIATION RIGHTS. A stock appreciation right granted
pursuant to the Plan shall entitle the holder, upon exercise, to receive a
payment equal to the amount by which the fair market value of one Share (as
determined by the Committee) on the date the right is exercised exceeds the
"base amount" established by the Committee for such right on the date it was
granted. Stock appreciation rights shall be subject to such

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terms and conditions as the Committee shall from time to time approve; provided,
that each right shall be subject to the following requirements:

                  a. TYPE OF RIGHT. A stock appreciation right may be granted in
         tandem with an option granted pursuant to the Plan, or as a
         "freestanding" right not in tandem with an option.

                  b. TANDEM RIGHTS. Any option granted in tandem with a stock
         appreciation right shall become nonexercisable upon the exercise of the
         related right, and any right granted in tandem with an option shall
         become nonexercisable upon exercise of the related option. Shares
         subject to an option which becomes nonexercisable by virtue of the
         exercise of a tandem right shall not be available for subsequent awards
         under the Plan.

                  c. TERM. No stock appreciation right shall be exercisable
         within six months, or more than ten years, after the date on which it
         is granted.

                  d. PAYMENT. Any amount payable upon the exercise of a stock
         appreciation right may be paid in cash, in shares of Common Stock
         having a fair market value which is not more than the amount payable on
         the date of exercise, or in a combination of cash and such shares as
         the Committee, in its sole discretion, shall determine.

                  e. RIGHTS NOT TRANSFERABLE. A stock appreciation right shall
         not be transferable by the holder except to the extent permitted by the
         agreement evidencing such right; provided, that in no event shall any
         right be transferable by the holder, other than by will or the laws of
         descent and distribution, and such right shall be exercisable during
         the holder's lifetime only by the holder.

                  f. RIGHTS IN TANDEM WITH ISOs. If a stock appreciation right
         is granted in tandem with an Incentive Stock Option, it shall be
         subject to the following additional requirements:

                           (l) The base amount of the right shall not be less
                  than the option price of the related option.

                           (2) The right shall be exercisable only when the then
                  fair market of the Share subject to the right exceeds the
                  option price of the related option.

                           (3) The right shall be exercisable only when, and to
                  the extent, the related option is exercisable.

                           (4) The right shall be transferable only when the
                  related option is transferable.

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                           (5) The amount payable upon exercise of the right
                  shall not exceed the difference between the then fair market
                  value of the Share subject to the right and the option price
                  of the related option.

Subject to the foregoing, stock appreciation rights may be made exercisable in
one or more installments, upon the happening of certain events, upon the
fulfillment of certain conditions, or upon such other terms and conditions as
the Committee shall determine.

         7. RESTRICTED STOCK. Restricted stock awards granted pursuant to the
Plan shall entitle the holder to receive Shares, subject to forfeiture if
specified conditions are not satisfied at the end of a specified period.
Restricted stock awards shall be subject to such terms and conditions as the
Committee shall from time to time approve; provided, that each award shall be
subject to the following requirements:

                  a. RESTRICTED PERIOD. The Committee shall establish a period
         (the "Restricted Period") of not less than six months nor more than
         five years, commencing on the date of award, during which the holder
         will not be permitted to sell, transfer, pledge, encumber, or assign
         the Shares subject to the award. Within these limits, the Committee may
         provide for the lapse of restrictions in installments, or upon the
         occurrence of certain events, where deemed appropriate. Any attempt by
         a holder to dispose of restricted Shares in a manner contrary to the
         applicable restrictions shall be void, and of no force and effect.

                  b. RIGHTS DURING RESTRICTED PERIOD. Except to the extent
         otherwise provided in this paragraph 7 or under the terms of any
         restricted stock agreement, during the Restricted Period, the holder of
         restricted Shares shall have all of the rights of a stockholder in the
         Company with respect to such Shares, including the right to vote the
         Shares and to receive dividends and other distributions with respect to
         the Shares; provided, that all stock dividends, stock rights, and stock
         issued upon split-ups or reclassifications of Shares shall be subject
         to the same restrictions as the Shares with respect to which such stock
         dividends, rights, or additional stock are issued, and may be held in
         custody as provided below in this paragraph 7 until the restrictions
         thereon shall have lapsed,

                  c. FORFEITURES. Except to the extent otherwise provided in the
         restricted stock agreement, all Shares then subject to any restriction
         shall be forfeited to the Company without further obligation of the
         Company to the holder thereof, and all rights of the holder with
         respect to such Shares shall terminate, if the holder shall cease to be
         an employee of the Company and its Affiliates, or if any condition
         established by the Committee for the release of

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         any restriction shall not have occurred, prior to the expiration of the
         Restricted Period.

                  d. CUSTODY. The Committee may provide that the certificates
         evidencing restricted Shares shall be held in custody by a bank or
         other institution, or by the Company or any Affiliate, until the
         restrictions thereon have lapsed, and may require that the holder of
         any restricted Shares shall have delivered to the Company a stock
         power, endorsed in blank, relating to the restricted Shares as a
         condition of receiving the award.

                  e. CERTIFICATES. A recipient of a restricted stock award shall
         be issued a certificate or certificates evidencing the Shares subject
         to such award. Such certificates shall be registered in the name of the
         recipient, and may bear an appropriate legend referring to the terms,
         conditions, and restrictions applicable to such award, which legend
         shall be in substantially the following form:

                  "The transferability of this certificate and the shares
                  represented hereby are subject to the terms and conditions
                  (including forfeiture) of the IPI, Inc. 1994 Long-Term
                  Incentive Plan and an Agreement entered into between the
                  registered owner and IPI, Inc. Copies of such Plan and
                  Agreement are on file in the offices of IPI, Inc., 1010 South
                  Seventh Street, Minneapolis, Minnesota 55415."

         8. PERFORMANCE AWARDS. Performance awards made pursuant to the Plan
shall entitle the recipient to receive future payments of cash or distributions
of Shares upon the achievement of pre-established, long-term performance goals.
Al1 performance awards shall be evidenced by award agreements in such form as
the Committee shall from time to time approve; provided, that each award shall
be subject to the following requirements:

                  a. PERFORMANCE PERIOD. The Committee shall establish with
         respect to each performance award a performance period of not fewer
         than six months, nor more than five years.

                  b. AMOUNT OF AWARDS. The Committee shall establish a value for
         each performance award, which value may be expressed in terms of
         specified dollar amounts or a specified number of Shares. Any such
         value may be fixed or variable in accordance with criteria specified by
         the Committee at the time of the award.

                  c. PERFORMANCE OBJECTIVES. The Committee shall establish
         performance objectives to be achieved with respect to each performance
         award during the applicable performance period, determining the extent
         to which an employee shall be

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         entitled to distributions with respect to such performance award.

                  d. PERFORMANCE MEASURES. Performance objectives established by
         the Committee may relate to corporate, subsidiary, unit, or individual
         performance, or any combination thereof, and may be established in
         terms of growth in gross or net earnings, earnings per share, ratio of
         earnings to equity or assets, Share value, or such other measures or
         standards as the Committee shall determine. Multiple objectives may be
         used which have the same or different weighting, and such objectives
         may relate to absolute performance or to relative performance measured
         against other companies or businesses, or against other subsidiaries,
         units, or individuals.

                  e. ADJUSTMENTS. At any time prior to the end of a performance
         period, the Committee may adjust previously established performance
         objectives to reflect major unforeseen events such as changes in
         applicable laws, regulations, or accounting practices; mergers,
         acquisitions, or divestitures; or other unusual or non-recurring items
         or events.

                  f. DISTRIBUTIONS WITH RESPECT TO AWARDS. Following the end of
         each performance period, the Committee shall determine the extent to
         which the performance objectives established for such period have been
         achieved and the amounts of cash or number of Shares, if any, that are
         payable or distributable with respect to performance awards made with
         respect to such period. Payments with respect to performance awards may
         be made in cash or in Shares (based on fair market value at the time of
         the distribution), or in any combination thereof, as the Committee
         shall determine. Such payments or distributions may be made in a lump
         sum or in installments, and shall be subject to such vesting, deferral
         or other terms and conditions as the Committee may determine.

                  g. NONTRANSFERABILITY. Performance awards granted under this
         Plan shall not be assignable or otherwise transferable by the recipient
         except to the extent permitted by the agreement evidencing such right;
         provided, that in no event shall an award be transferable by the
         recipient, other than by will or the laws of descent and distribution,
         and such award shall be payable during the recipient's lifetime only to
         the recipient.

         9. AGREEMENTS. Each award granted pursuant to the Plan shall be
evidenced by an agreement setting forth the terms and conditions upon which it
is granted. Multiple awards may be evidenced by a single agreement. Subject to
the limitations set forth in the Plan, the Committee may, with the consent of
the person to whom an award has been granted, amend any such

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agreement to modify the terms or conditions governing the award evidenced
thereby.

         10. ADJUSTMENTS. In the event of any change in the outstanding Shares
of Common Stock by reason of any stock dividend or split, recapitalization,
reclassification, combination, or exchange of Shares or other similar corporate
change, then if the Committee shall determine, in its sole discretion, that such
change necessarily or equitably requires an adjustment in the number of Shares
subject to an award, in the option price or value of an award, in the maximum
number of Shares subject to this Plan, or in the maximum number of Shares
subject to awards to any employee, such adjustments shall be made by the
Committee and shall be conclusive and binding for all purposes of this Plan.

         11. MERGER, CONSOLIDATION, ETC. Subject to the provisions of the
agreement evidencing any award, if the company shall become a party to any
corporate merger, consolidation, major acquisition of property for stock,
reorganization, or liquidation, the Board shall have the power to make any
arrangement it deems advisable with respect to outstanding awards, in the number
of Shares subject to this Plan, and in the number of Shares subject to awards to
any employee, which shall be binding for all purposes of this Plan, including,
but not limited to, the substitution of new awards for any awards then
outstanding, the assumption of any such awards, and the termination of such
awards.

         12. EXPENSES OF PLAN. The expenses of administering this Plan shall be
borne by the Company and its Affiliates.

         13. RELIANCE ON REPORTS. Each member of the Committee and each member
of the Board shall be fully justified in relying or acting in good faith upon
any report made by the independent public accountants of the Company and its
Affiliates and upon any other information furnished in connection with this Plan
by any person or persons other than himself. In no event shall any person who is
or shall have been a member of the Committee or of the Board be liable for any
determination made or other action taken or omitted in reliance upon any such
report or information, or for any action taken or omitted, including the
furnishing of information, in good faith.

         14. INDEMNIFICATION. Each person who is or shall have been a member of
the Committee or of the Board shall be indemnified and held harmless by the
Company against and from any loss, cost, liability, or expense that may be
imposed upon or reasonably incurred by him in connection with or resulting from
any claim, action, suit, or proceeding to which he may be a party or in which he
may be involved by reason of any action taken or omitted under this Plan and
against and from any and all amounts paid by him in settlement thereof, with the
Company's approval, or paid by him in satisfaction of judgment in any such
action, suit, or

                                      -8-
<PAGE>

proceeding against him; provided, he shall give the Company an opportunity, at
its own expense, to handle and defend the same before he undertakes to handle
and defend it on his own behalf. The foregoing right of indemnification shall
not be exclusive of any other rights of indemnification to which such person may
be entitled under the Company's articles of incorporation or bylaws, as a matter
of law, or otherwise, or any power that the Company may have to indemnify them
or hold them harmless.

         15. RIGHTS AS STOCKHOLDER. Except to the extent otherwise specifically
provided hereon, no recipient of any award shall have any rights as a
stockholder with respect to shares sold or issued pursuant to the Plan until
certificates for such Shares have been issued to such person.

         16. GENERAL RESTRICTIONS. Each award granted pursuant to the Plan shall
be subject to the requirement that if, in the opinion of the Committee:

                  a. the listing, registration, or qualification of any shares
         related thereto upon any securities exchange or under any state or
         federal law;

                  b. the consent or approval of any regulatory body; or

                  c. an agreement by the recipient with respect to the
         disposition of any such Shares;

is necessary or desirable as a condition of the issuance or sale of such Shares,
such award shall not be consummated unless and until such listing, registration,
qualification, consent, approval, or agreement is effected or obtained in form
satisfactory to the Committee.

         17. EMPLOYMENT RIGHTS. Nothing in this Plan, or in any agreement
entered into hereunder, shall confer upon any employee the right to continue in
the employ of the Company or its Affiliates, or affect the right of the Company
or any Affiliate to terminate an employee's employment at any time, with or
without cause.

         18. WITHHOLDING. If the Company proposes or is required to issue Shares
pursuant to the Plan, it may require the recipient to remit to it, or withhold
from such award or from the recipient's other compensation, an amount sufficient
to satisfy any applicable federal, state, or local tax withholding requirements
prior to the delivery of any certificates for such Shares.

         19. AMENDMENTS. The Board may at any time, and from time to time, amend
the Plan in any respect, except that no amendment:

                                      -9-
<PAGE>

                  a. increasing the number of Shares available for issuance or
         sale pursuant to the Plan (other than as permitted by paragraphs 10 and
         11);

                  b. changing the classification of employees eligible to
         participate in the Plan or the definition of an "Affiliate;" or

                  c. materially increasing the benefits accruing to participants
         under the Plan;

shall be made without the affirmative vote of stockholders holding at least a
majority of the voting stock of the Company represented in person or by proxy at
a duly held stockholders' meeting.

         20. CONTINGENCIES.

                  a. STOCKHOLDER APPROVAL. An award granted under the Plan prior
         to the date on which the Plan is approved by stockholders holding at
         least a majority of the voting stock of the Company represented in
         person or by proxy at a duly held stockholders' meeting shall be
         contingent upon such approval. If such approval is not received within
         12 months after the date on which this Plan is adopted by the Board,
         any such award shall be void, and of no force or effect.

                  b. PUBLIC OFFERING. An award granted under the Plan prior to
         the date on which a Registration Statement on Form SB-2 becomes
         effective with respect to an initial public offering of the Common
         Stock shall be contingent upon such effectiveness. If such a
         Registration Statement does not become effective within six months
         after the date on which this Plan is adopted by the Board, any such
         award shall be void, and of no force or effect.

         21. DURATION. No options or rights shall be granted under the Plan
after the earlier of: (a) the date on which the Plan is terminated by the Board;
or (b) March 29, 2004.

         22. COMPLIANCE WITH SECTION 16(b). In the case of employees who are or
may be subject to Section 16 of the Act, it is the intent of the Company that
the Plan and any award granted hereunder satisfy and be interpreted in a manner
that satisfies the applicable requirements of Rule 16b-3, so that such persons
will be entitled to the benefits of Rule 16b-3 or other exemptive rules under
Section 16 of the Act and will not be subjected to liability thereunder. If any
provision of the Plan or any award would otherwise conflict with the intent
expressed herein, that provision, to the extent possible, shall be interpreted
and deemed so as to avoid such conflict. To the extent of any remaining
irreconcilable conflict with such intent, such provision shall be deemed void as
applicable to employees who are or may be subject to Section 16 of the Act.

                                      -10-

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