Document:

<PAGE>

                                                                 Exhibit 10.2(6)

                                      BELO
                        2004 EXECUTIVE COMPENSATION PLAN

<PAGE>
                                                                               .
                                                                               .
                                                                               .

                                      BELO
                        2004 EXECUTIVE COMPENSATION PLAN

<TABLE>
<CAPTION>
SECTION                                                                                                       PAGE
<S>                                                                                                           <C>
1.   Purpose................................................................................................    1

2.   Term...................................................................................................    1

3.   Definitions............................................................................................    1

4.   Shares Available Under Plan............................................................................    5

5.   Limitations on Awards..................................................................................    6

6.   Stock Options..........................................................................................    6

7.   Appreciation Rights....................................................................................    8

8.   Restricted Shares......................................................................................    9

9.   Deferred Shares........................................................................................   10

10.  Performance Shares and Performance Units...............................................................   11

11.  Executive Compensation Plan Bonuses....................................................................   12

12.  Awards for Directors...................................................................................   13

13.  Transferability........................................................................................   14

14.  Adjustments............................................................................................   14

15.  Fractional Shares......................................................................................   14

16.  Withholding Taxes......................................................................................   15

17.  Administration of the Plan.............................................................................   15

18.  Amendments and Other Matters...........................................................................   15

19.  Governing Law..........................................................................................   16
</TABLE>

<PAGE>

                                      BELO
                        2004 EXECUTIVE COMPENSATION PLAN

      Belo Corp., a Delaware corporation ("Belo"), establishes the Belo 2004
Executive Compensation Plan (the "Plan"), effective as of January 1, 2004,
subject to shareholder approval.

1.    PURPOSE. The purpose of the Plan is to attract and retain the best
      available talent and encourage the highest level of performance by
      directors, executive officers and selected employees, and to provide them
      incentives to put forth maximum efforts for the success of Belo's
      business, in order to serve the best interests of Belo and its
      shareholders.

2.    TERM. The Plan will expire on the tenth anniversary of the date on which
      it is approved by the shareholders of Belo. No further Awards will be made
      under the Plan on or after such tenth anniversary.

3.    DEFINITIONS. The following terms, when used in the Plan with initial
      capital letters, will have the following meanings:

      (a)   APPRECIATION RIGHT means a right granted pursuant to Section 7.

      (b)   AWARD means the award of an Executive Compensation Plan Bonus; the
            grant of Appreciation Rights, Stock Options, Performance Shares or
            Performance Units; or the grant or sale of Deferred Shares or
            Restricted Shares.

      (c)   BOARD means the Board of Directors of Belo.

      (d)   CHANGE IN CONTROL means the first to occur of the events described
            in (i) through (iv) below, unless the Board has adopted a resolution
            prior to or promptly following the occurrence of any such event
            stipulating, conditionally, temporarily or otherwise, that any such
            event will not result in a change in control of Belo for purposes of
            the Plan:

            (i)   the commencement of, or first public announcement of the
                  intention of any entity, person or group (within the meaning
                  of Section 3(b) of, and Rule 13d-5(b) promulgated under, the
                  Securities Exchange Act of 1934, as amended, respectively) to
                  commence, a tender offer or exchange offer (other than an
                  offer by Belo or any Subsidiary) for all, or any part of, the
                  Common Stock;

            (ii)  the public announcement by Belo or by any group (as defined in
                  clause (i) above), entity or person (other than Belo, any
                  Subsidiary, or any savings, pension or other benefit plan for
                  the benefit of employees of Belo or any Subsidiary) which,
                  through a transaction or series of transactions has acquired,
                  directly or indirectly, beneficial ownership (within the
                  meaning of Rule 13d-3 promulgated under the Securities
                  Exchange Act of 1934, as amended) of more than 30% of the
                  total number of shares of Common

<PAGE>

                  Stock, that such group, entity or person has become such a
                  beneficial owner;

            (iii) the approval by Belo's shareholders (or, if such approval is
                  not required, the consummation) of a merger in which Belo does
                  not survive as an independent publicly owned corporation, a
                  consolidation, or a sale, exchange, or other disposition of
                  all or substantially all of Belo's assets; or

            (iv)  a change in the composition of the Board during any period of
                  two consecutive years such that individuals who at the
                  beginning of such period were members of the Board cease for
                  any reason to constitute at least a majority thereof, unless
                  the election, or the nomination for election by Belo's
                  shareholders, of each new director was approved by a vote of
                  at least two-thirds of the directors then still in office who
                  were directors at the beginning of such period.

      (e)   CODE means the Internal Revenue Code of 1986, as in effect from time
            to time.

      (f)   COMMITTEE means the Compensation Committee of the Board and, to the
            extent the administration of the Plan has been assumed by the Board
            pursuant to Section 17, the Board.

      (g)   COMMON STOCK means the Series A Common Stock, par value $1.67 per
            share, and the Series B Common Stock, par value $1.67 per share, of
            Belo or any security into which such Common Stock may be changed by
            reason of any transaction or event of the type described in Section
            14. Shares of Common Stock issued or transferred pursuant to the
            Plan will be shares of Series A Common Stock or Series B Common
            Stock, as determined by the Committee in its discretion.
            Notwithstanding the foregoing, the Committee will not authorize the
            issuance or transfer of Series B Common Stock if the Committee
            determines that such issuance or transfer would cause the Series A
            Common Stock to be excluded from trading in the principal market in
            which the Common Stock is then traded.

      (h)   DATE OF GRANT means (i) with respect to Participants, the date
            specified by the Committee on which an Award will become effective
            and (ii) with respect to Directors, the date specified in Section
            12.

      (i)   DEFERRAL PERIOD means the period of time during which Deferred
            Shares are subject to deferral limitations under Section 9.

      (j)   DEFERRED SHARES means an award pursuant to Section 9 of the right to
            receive shares of Common Stock at the end of a specified Deferral
            Period.

      (k)   DIRECTOR means a member of the Board who is not a regular full-time
            employee of Belo or any Subsidiary.

                                        2
<PAGE>

      (l)   EVIDENCE OF AWARD means an agreement, certificate, resolution or
            other type or form of writing or other evidence approved by the
            Committee which sets forth the terms and conditions of an Award. An
            Evidence of Award may be in any electronic medium, may be limited to
            a notation on the books and records of Belo and need not be signed
            by a representative of Belo or a Participant or Director.

      (m)   EXECUTIVE COMPENSATION PLAN BONUS means an award of annual incentive
            compensation made pursuant to and subject to the conditions set
            forth in Section 11.

      (n)   GRANT PRICE means the price per share of Common Stock at which an
            Appreciation Right not granted in tandem with a Stock Option is
            granted.

      (o)   MANAGEMENT OBJECTIVES means the measurable performance objectives,
            if any, established by the Committee for a Performance Period that
            are to be achieved with respect to an Award. Management Objectives
            may be described in terms of company-wide objectives (i.e., the
            performance of Belo and all of its Subsidiaries) or in terms of
            objectives that are related to the performance of the individual
            Participant or of the division, Subsidiary, department, region or
            function within Belo or a Subsidiary in which the Participant
            receiving the Award is employed or on which the Participant's
            efforts have the most influence. The achievement of the Management
            Objectives established by the Committee for any Performance Period
            will be determined without regard to the effect on such Management
            Objectives of any acquisition or disposition by Belo of a trade or
            business, or of substantially all of the assets of a trade or
            business, during the Performance Period and without regard to any
            change in accounting standards by the Financial Accounting Standards
            Board or any successor entity.

            The Management Objectives applicable to any Award to a Participant
            who is, or is determined by the Committee to be likely to become, a
            "covered employee" within the meaning of Section 162(m) of the Code
            (or any successor provision) will be limited to specified levels of,
            growth in, or performance relative to peer company performance in,
            one or more of the following performance measures (excluding the
            effect of extraordinary or nonrecurring items):

            (i)   earnings per share;

            (ii)  earnings before interest, taxes, depreciation and amortization
                  (EBITDA);

            (iii) net income;

            (iv)  net operating profit;

            (v)   revenue;

            (vi)  operating margins;

            (vii) share price;

                                        3
<PAGE>

            (viii) total shareholder return (measured as the total of the
                   appreciation of and dividends declared on the Common Stock);

            (ix)   return on invested capital;

            (x)    return on shareholder equity;

            (xi)   return on assets;

            (xii)  working capital targets;

            (xiii) reduction in fixed costs;

            (xiv)  debt reduction; and

            (xv)   industry specific measures of audience or revenue share.

            If the Committee determines that, as a result of a change in the
            business, operations, corporate structure or capital structure of
            Belo (other than an acquisition or disposition described in the
            first paragraph of this Section 3(o)), or the manner in which Belo
            conducts its business, or any other events or circumstances, the
            Management Objectives are no longer suitable, the Committee may in
            its discretion modify such Management Objectives or the related
            minimum acceptable level of achievement, in whole or in part, with
            respect to a Performance Period as the Committee deems appropriate
            and equitable, except where such action would result in the loss of
            the otherwise available exemption of the Award under Section 162(m)
            of the Code. In such case, the Committee will not make any
            modification of the Management Objectives or minimum acceptable
            level of achievement.

      (p)   MARKET VALUE PER SHARE means, at any date, the closing sale price of
            the Common Stock on that date (or, if there are no sales on that
            date, the last preceding date on which there was a sale) in the
            principal market in which the Common Stock is traded.

      (q)   OPTION PRICE means the purchase price per share payable on exercise
            of a Stock Option.

      (r)   PARTICIPANT means a person who is selected by the Committee to
            receive benefits under the Plan and who is at that time an executive
            officer or other key employee of Belo or any Subsidiary.

      (s)   PERFORMANCE SHARE means a bookkeeping entry that records the
            equivalent of one share of Common Stock awarded pursuant to Section
            10.

      (t)   PERFORMANCE PERIOD means, with respect to an Award, a period of time
            within which the Management Objectives relating to such Award are to
            be measured. The Performance Period for an Executive Compensation
            Plan Bonus will be a

                                        4
<PAGE>

            period of 12 months, and, unless otherwise expressly provided in the
            Plan, the Performance Period for all other Awards will be
            established by the Committee at the time of the Award.

      (u)   PERFORMANCE UNIT means a unit equivalent to $100 (or such other
            value as the Committee determines) granted pursuant to Section 10.

      (v)   RESTRICTED SHARES means shares of Common Stock granted or sold
            pursuant to Section 8 as to which neither the ownership restrictions
            nor the restrictions on transfer have expired.

      (w)   RULE 16b-3 means Rule 16b-3 under Section 16 of the Securities
            Exchange Act of 1934, as amended (or any successor rule to the same
            effect), as in effect from time to time.

      (x)   SPREAD means the excess of the Market Value per Share on the date an
            Appreciation Right is exercised over (i) the Option Price provided
            for in the Stock Option granted in tandem with the Appreciation
            Right or (ii) if there is no tandem Stock Option, the Grant Price
            provided for in the Appreciation Right, in either case multiplied by
            the number of shares of Common Stock in respect of which the
            Appreciation Right is exercised.

      (y)   STOCK OPTION means the right to purchase shares of Common Stock upon
            exercise of an option granted pursuant to Section 6.

      (z)   SUBSIDIARY means (i) any corporation of which at least 50% of the
            total combined voting power of all outstanding shares of stock is
            owned directly or indirectly by Belo, (ii) any partnership of which
            at least 50% of the profits interest or capital interest is owned
            directly or indirectly by Belo and (iii) any other entity of which
            at least 50% of the total equity interest is owned directly or
            indirectly by Belo.

4.    SHARES AVAILABLE UNDER PLAN. The number of shares of Common Stock that may
      be issued or transferred (i) upon the exercise of Appreciation Rights or
      Stock Options, (ii) as Restricted Shares and released from all
      restrictions, (iii) as Deferred Shares, (iv) in payment of Performance
      Shares, Performance Units or Executive Compensation Plan Bonuses will not
      exceed in the aggregate 10 million shares. Such shares may be shares of
      original issuance or treasury shares or a combination of the foregoing.
      The number of shares of Common Stock available under this Section 4 will
      be subject to adjustment as provided in Section 14 and will be further
      adjusted to include shares that (i) relate to Awards that expire or are
      forfeited or (ii) are transferred, surrendered or relinquished to or
      withheld by Belo in satisfaction of any Option Price or in satisfaction of
      any tax withholding amount. Upon payment in cash of the benefit provided
      by any Award, any shares that were covered by that Award will again be
      available for issue or transfer under the Plan.

                                        5
<PAGE>

5.    LIMITATIONS ON AWARDS. Awards under the Plan will be subject to the
      following limitations:

      (a)   No more than an aggregate of 5 million shares of Common Stock,
            subject to adjustment as provided in Section 4, will be issued or
            transferred as Deferred Shares and Restricted Shares (excluding the
            award of any Deferred Shares or Restricted Shares to Directors
            pursuant to Section 12).

      (b)   No more than 10 million shares of Common Stock, subject to
            adjustment only as provided in Section 14, will be issued pursuant
            to Stock Options that are intended to qualify as incentive stock
            options under Section 422 of the Code.

      (c)   The maximum aggregate number of shares of Common Stock that may be
            subject to Stock Options, Appreciation Rights, Deferred Shares,
            Performance Shares or Restricted Shares granted or sold to a
            Participant during any calendar year will not exceed 1 million
            shares, subject to adjustment only as provided in Section 14. The
            foregoing limitation will apply without regard to whether the
            applicable Award is settled in cash or in shares of Common Stock.

      (d)   The maximum aggregate cash value of payments to any Participant for
            any Performance Period pursuant to an award of Performance Units
            will not exceed $3 million.

      (e)   The payment of an Executive Compensation Plan Bonus to any
            Participant will not exceed $5 million.

6.    STOCK OPTIONS. The Committee may from time to time authorize grants to any
      Participant and, subject to Section 12, to any Director of options to
      purchase shares of Common Stock upon such terms and conditions as it may
      determine in accordance with this Section 6. Each grant of Stock Options
      may utilize any or all of the authorizations, and will be subject to all
      of the requirements, contained in the following provisions:

      (a)   Each grant will specify the number of shares of Common Stock to
            which it relates.

      (b)   Each grant will specify the Option Price, which will not be less
            than 100% of the Market Value per Share on the Date of Grant.

      (c)   Each grant will specify whether the Option Price will be payable (i)
            in cash or by check acceptable to Belo, (ii) by the actual or
            constructive transfer to Belo of shares of Common Stock owned by the
            Participant or Director for at least six months (or, with the
            consent of the Committee, for less than six months) having an
            aggregate Market Value per Share at the date of exercise equal to
            the aggregate Option Price, (iii) with the consent of the Committee,
            by authorizing Belo to withhold a number of shares of Common Stock
            otherwise issuable to the Participant or Director having an
            aggregate Market Value per Share on the date of exercise equal to
            the aggregate Option Price or (iv) by a combination of such methods
            of payment; provided, however, that the payment methods described in

                                        6
<PAGE>

            clauses (ii) and (iii) will not be available at any time that Belo
            is prohibited from purchasing or acquiring such shares of Common
            Stock.

      (d)   To the extent permitted by law, any grant may provide for deferred
            payment of the Option Price from the proceeds of sale through a bank
            or broker of some or all of the shares to which such exercise
            relates.

      (e)   Successive grants may be made to the same Participant or Director
            whether or not any Stock Options or other Awards previously granted
            to such Participant or Director remain unexercised or outstanding.

      (f)   Each grant will specify the required period or periods of continuous
            service by the Participant or Director with Belo or any Subsidiary
            that are necessary before the Stock Options or installments thereof
            will become exercisable.

      (g)   Any grant may specify the Management Objectives that must be
            achieved as a condition to the exercise of the Stock Options.

      (h)   Any grant may provide for the earlier exercise of the Stock Options
            in the event of a Change in Control or other similar transaction or
            event.

      (i)   Stock Options may be (i) options which are intended to qualify under
            particular provisions of the Code, (ii) options which are not
            intended to so qualify or (iii) combinations of the foregoing.

      (j)   On or after the Date of Grant, the Committee may provide for the
            payment to the Participant or Director of dividend equivalents
            thereon in cash or Common Stock on a current, deferred or contingent
            basis.

      (k)   No Stock Option will be exercisable more than ten years from the
            Date of Grant.

      (l)   The Committee will have the right to substitute Appreciation Rights
            for outstanding Options granted to one or more Participants or
            Directors, provided the terms and the economic benefit of the
            substituted Appreciation Rights are at least equivalent to the terms
            and economic benefit of such Options, as determined by the Committee
            in its discretion.

      (m)   Any grant may provide for the effect on the Stock Options or any
            shares of Common Stock issued, or other payment made, with respect
            to the Stock Options of any conduct of the Participant determined by
            the Committee to be injurious, detrimental or prejudicial to any
            significant interest of Belo or any Subsidiary.

      (n)   Each grant will be evidenced by an Evidence of Award, which may
            contain such terms and provisions, consistent with the Plan, as the
            Committee may approve, including without limitation provisions
            relating to the Participant's termination of employment or
            Director's termination of service by reason of retirement, death,
            disability or otherwise.

                                        7
<PAGE>

7.    APPRECIATION RIGHTS. The Committee may also from time to time authorize
      grants to any Participant and, subject to Section 12, to any Director of
      Appreciation Rights upon such terms and conditions as it may determine in
      accordance with this Section 7. Appreciation Rights may be granted in
      tandem with Stock Options or separate and apart from a grant of Stock
      Options. An Appreciation Right will be a right of the Participant or
      Director to receive from Belo upon exercise an amount which will be
      determined by the Committee at the Date of Grant and will be expressed as
      a percentage of the Spread (not exceeding 100%) at the time of exercise.
      An Appreciation Right granted in tandem with a Stock Option may be
      exercised only by surrender of the related Stock Option. Each grant of an
      Appreciation Right may utilize any or all of the authorizations, and will
      be subject to all of the requirements, contained in the following
      provisions:

      (a)   Each grant will state whether it is made in tandem with Stock
            Options and, if not made in tandem with any Stock Options, will
            specify the number of shares of Common Stock in respect of which it
            is made.

      (b)   Each grant made in tandem with Stock Options will specify the Option
            Price and each grant not made in tandem with Stock Options will
            specify the Grant Price, which in either case will not be less than
            100% of the Market Value per Share on the Date of Grant.

      (c)   Any grant may provide that the amount payable on exercise of an
            Appreciation Right may be paid (i) in cash, (ii) in shares of Common
            Stock having an aggregate Market Value per Share equal to the Spread
            or (iii) in a combination thereof, as determined by the Committee in
            its discretion.

      (d)   Any grant may specify that the amount payable to the Participant or
            Director on exercise of an Appreciation Right may not exceed a
            maximum amount specified by the Committee at the Date of Grant
            (valuing shares of Common Stock for this purpose at their Market
            Value per Share at the date of exercise).

      (e)   Successive grants may be made to the same Participant or Director
            whether or not any Appreciation Rights or other Awards previously
            granted to such Participant or Director remain unexercised or
            outstanding.

      (f)   Each grant will specify the required period or periods of continuous
            service by the Participant or Director with Belo or any Subsidiary
            that are necessary before the Appreciation Rights or installments
            thereof will become exercisable, and will provide that no
            Appreciation Rights may be exercised except at a time when the
            Spread is positive and, with respect to any grant made in tandem
            with Stock Options, when the related Stock Options are also
            exercisable.

      (g)   Any grant may specify the Management Objectives that must be
            achieved as a condition to the exercise of the Appreciation Rights.

      (h)   Any grant may provide for the earlier exercise of the Appreciation
            Rights in the event of a Change in Control or other similar
            transaction or event.

                                        8
<PAGE>

      (i)   On or after the Date of Grant, the Committee may provide for the
            payment to the Participant or Director of dividend equivalents
            thereon in cash or Common Stock on a current, deferred or contingent
            basis.

      (j)   No Appreciation Right will be exercisable more than ten years from
            the Date of Grant.

      (k)   Any grant may provide for the effect on the Appreciation Rights or
            any shares of Common Stock issued, or other payment made, with
            respect to the Appreciation Rights of any conduct of the Participant
            determined by the Committee to be injurious, detrimental or
            prejudicial to any significant interest of Belo or any Subsidiary.

      (l)   Each grant will be evidenced by an Evidence of Award, which may
            contain such terms and provisions, consistent with the Plan, as the
            Committee may approve, including without limitation provisions
            relating to the Participant's termination of employment or
            Director's termination of service by reason of retirement, death,
            disability or otherwise.

8.    RESTRICTED SHARES. The Committee may also from time to time authorize
      grants or sales to any Participant and, subject to Section 12, to any
      Director of Restricted Shares upon such terms and conditions as it may
      determine in accordance with this Section 8. Each grant or sale will
      constitute an immediate transfer of the ownership of shares of Common
      Stock to the Participant or Director in consideration of the performance
      of services, entitling such Participant or Director to voting and other
      ownership rights, but subject to the restrictions set forth in this
      Section 8. Each such grant or sale may utilize any or all of the
      authorizations, and will be subject to all of the requirements, contained
      in the following provisions:

      (a)   Each grant or sale may be made without additional consideration or
            in consideration of a payment by the Participant or Director that is
            less than the Market Value per Share at the Date of Grant, except as
            may otherwise be required by the Delaware General Corporation Law.

      (b)   Each grant or sale may limit the Participant's or Director's
            dividend rights during the period in which the shares of Restricted
            Shares are subject to any such restrictions.

      (c)   Each grant or sale will provide that the Restricted Shares will be
            subject, for a period to be determined by the Committee at the Date
            of Grant, to one or more restrictions, including without limitation
            a restriction that constitutes a "substantial risk of forfeiture"
            within the meaning of Section 83 of the Code and the regulations of
            the Internal Revenue Service under such section.

      (d)   Any grant or sale may specify the Management Objectives that, if
            achieved, will result in the termination or early termination of the
            restrictions applicable to the shares.

                                        9
<PAGE>

      (e)   Any grant or sale may provide for the early termination of any such
            restrictions in the event of a Change in Control or other similar
            transaction or event.

      (f)   Each grant or sale will provide that during the period for which
            such restriction or restrictions are to continue, the
            transferability of the Restricted Shares will be prohibited or
            restricted in a manner and to the extent prescribed by the Committee
            at the Date of Grant (which restrictions may include without
            limitation rights of repurchase or first refusal in favor of Belo or
            provisions subjecting the Restricted Shares to continuing
            restrictions in the hands of any transferee).

      (g)   Any grant or sale may provide for the effect on the Restricted
            Shares or any shares of Common Stock issued free of restrictions, or
            other payment made, with respect to the Restricted Shares of any
            conduct of the Participant determined by the Committee to be
            injurious, detrimental or prejudicial to any significant interest of
            Belo or any Subsidiary.

      (h)   Each grant or sale will be evidenced by an Evidence of Award, which
            may contain such terms and provisions, consistent with the Plan, as
            the Committee may approve, including without limitation provisions
            relating to the Participant's termination of employment or
            Director's termination of service by reason of retirement, death,
            disability or otherwise.

9.    DEFERRED SHARES. The Committee may also from time to time authorize grants
      or sales to any Participant and, subject to Section 12, to any Director of
      Deferred Shares upon such terms and conditions as it may determine in
      accordance with this Section 9. Each grant or sale will constitute the
      agreement by Belo to issue or transfer shares of Common Stock to the
      Participant or Director in the future in consideration of the performance
      of services, subject to the fulfillment during the Deferral Period of such
      conditions as the Committee may specify. Each such grant or sale may
      utilize any or all of the authorizations, and will be subject to all of
      the requirements, contained in the following provisions:

      (a)   Each grant or sale may be made without additional consideration from
            the Participant or Director or in consideration of a payment by the
            Participant or Director that is less than the Market Value per Share
            on the Date of Grant, except as may otherwise be required by the
            Delaware General Corporation Law.

      (b)   Each grant or sale will provide that the Deferred Shares will be
            subject to a Deferral Period, which will be fixed by the Committee
            on the Date of Grant, and any grant or sale may provide for the
            earlier termination of such period in the event of a Change in
            Control or other similar transaction or event.

      (c)   During the Deferral Period, the Participant or Director will not
            have any right to transfer any rights under the Deferred Shares,
            will not have any rights of ownership in the Deferred Shares and
            will not have any right to vote the Deferred Shares, but the
            Committee may on or after the Date of Grant authorize the

                                       10
<PAGE>

            payment of dividend equivalents on such shares in cash or Common
            Stock on a current, deferred or contingent basis.

      (d)   Any grant or sale may provide for the effect on the Deferred Shares
            or any shares of Common Stock issued free of restrictions, or other
            payment made, with respect to the Deferred Shares of any conduct of
            the Participant determined by the Committee to be injurious,
            detrimental or prejudicial to any significant interest of Belo or
            any Subsidiary.

      (e)   Each grant or sale will be evidenced by an Evidence of Award, which
            will contain such terms and provisions as the Committee may
            determine consistent with the Plan, including without limitation
            provisions relating to the Participant's termination of employment
            or Director's termination of service by reason of retirement, death,
            disability or otherwise.

10.   PERFORMANCE SHARES AND PERFORMANCE UNITS. The Committee may also from time
      to time authorize grants to any Participant and, subject to Section 12, to
      any Director of Performance Shares and Performance Units, which will
      become payable upon achievement of specified Management Objectives, upon
      such terms and conditions as it may determine in accordance with this
      Section 10. Each such grant may utilize any or all of the authorizations,
      and will be subject to all of the requirements, contained in the following
      provisions:

      (a)   Each grant will specify the number of Performance Shares or
            Performance Units to which it relates.

      (b)   The Performance Period with respect to each Performance Share and
            Performance Unit will be determined by the Committee at the time of
            grant.

      (c)   Each grant will specify the Management Objectives that, if achieved,
            will result in the payment of the Performance Shares or Performance
            Units.

      (d)   Each grant will specify the time and manner of payment of
            Performance Shares or Performance Units which have become payable,
            which payment may be made in (i) cash, (ii) shares of Common Stock
            having an aggregate Market Value per Share equal to the aggregate
            value of the Performance Shares or Performance Units which have
            become payable or (iii) any combination thereof, as determined by
            the Committee in its discretion at the time of payment.

      (e)   Any grant of Performance Shares may specify that the amount payable
            with respect thereto may not exceed a maximum specified by the
            Committee on the Date of Grant. Any grant of Performance Units may
            specify that the amount payable, or the number of shares of Common
            Stock issued, with respect to the Performance Units may not exceed
            maximums specified by the Committee on the Date of Grant.

                                       11
<PAGE>

      (f)   On or after the Date of Grant, the Committee may provide for the
            payment to the Participant or Director of dividend equivalents on
            Performance Shares in cash or Common Stock on a current, deferred or
            contingent basis.

      (g)   Any grant may provide for the effect on the Performance Shares or
            Performance Units or any shares of Common Stock issued, or other
            payment made, with respect to the Performance Shares or Performance
            Units of any conduct of the Participant determined by the Committee
            to be injurious, detrimental or prejudicial to any significant
            interest of Belo or any Subsidiary.

      (h)   Each grant will be evidenced by an Evidence of Award, which will
            contain such terms and provisions as the Committee may determine
            consistent with the Plan, including without limitation provisions
            relating to the payment of the Performance Shares or Performance
            Units in the event of a Change in Control or other similar
            transaction or event and provisions relating to the Participant's
            termination of employment or Director's termination of service by
            reason of retirement, death, disability or otherwise.

11.   EXECUTIVE COMPENSATION PLAN BONUSES. The Committee may from time to time
      authorize payment of annual incentive compensation in the form of an
      Executive Compensation Plan Bonus to a Participant, which will become
      payable upon achievement of specified Management Objectives. Executive
      Compensation Plan Bonuses will be payable upon such terms and conditions
      as the Committee may determine in accordance with the following
      provisions:

      (a)   The Committee will specify the Management Objectives that, if
            achieved, will result in the payment of the Executive Compensation
            Plan Bonus.

      (b)   The Committee will specify the time and manner of payment of an
            Executive Compensation Plan Bonus which becomes payable, which
            payment may be made in (i) cash, (ii) shares of Common Stock having
            an aggregate Market Value per Share equal to the aggregate value of
            the Executive Compensation Plan Bonus which has become payable or
            (iii) any combination thereof, as determined by the Committee in its
            discretion at the time of payment.

      (c)   If a Change in Control occurs during a Performance Period, the
            Executive Compensation Plan Bonus payable to each Participant for
            the Performance Period will be determined at the target level of
            achievement of the Management Objectives, without regard to actual
            performance, or, if greater, at the actual level of achievement at
            the time of the Change in Control, in both instances without
            proration for less than a full Performance Period. The Executive
            Compensation Bonus will be paid at such time following the Change in
            Control as the Committee determines in its discretion, but in no
            event later than 30 days after the date of an event described in
            Section 3(d)(iii) which results in a Change in Control.

                                       12
<PAGE>

      (d)   Each grant may be evidenced by an Evidence of Award, which will
            contain such terms and provisions as the Committee may determine
            consistent with the Plan, including without limitation provisions
            relating to the Participant's termination of employment by reason of
            retirement, death, disability or otherwise.

12.   AWARDS FOR DIRECTORS.

      (a)   On the date of each annual meeting of Belo shareholders, each
            Director will be granted (i) an Award that has a fair market value
            (as hereinafter determined) on the Date of Grant equal to 50% of the
            Director's annual compensation from Belo and (ii) an Award that has
            a fair market value on the Date of Grant equal to all or any portion
            of the Director's remaining annual compensation from Belo that the
            Director elects in writing prior to the date of the annual meeting.
            The form of the Award will be determined by the Committee in its
            discretion; provided, however, that unless the Committee determines
            otherwise, Awards made to Directors will be in the form of Stock
            Options. For purposes of this Section 12, the date of an annual
            meeting of shareholders of Belo is the date on which the meeting is
            convened or, if later, the date of the last adjournment thereof.

      (b)   An Award granted to a Director pursuant to this Section 12 will
            constitute payment of all or a portion of the Director's annual
            compensation for services to be performed by the Director for the
            12-month period beginning on the date of the annual meeting of
            shareholders on which the Award is granted. If, however, a Director
            is elected to the Board as of a date other than the date of an
            annual meeting of Belo shareholders, (i) the Director's annual
            compensation will be prorated based on the number of days remaining
            in the year in which the Director is elected to the Board (for this
            purpose the year will begin on the date of the annual meeting of
            shareholders immediately preceding the date of the Director's
            election to the Board) and (ii) 50% of the Director's prorated
            annual compensation will be paid in the form of an Award valued on
            the date of the Director's election to the Board, subject to the
            Director's election to receive up to 100% of his or her prorated
            annual compensation in the form of an Award valued on such date. Any
            portion of a Director's compensation from Belo that is not paid to
            the Director in the form of an Award will be paid in cash on the
            date of the annual meeting of shareholders or the date of the
            Director's election to the Board, as applicable.

      (c)   For purposes of this Section 12:

            (i)   the fair market value of a Stock Option or an Appreciation
                  Right awarded to a Director will be determined by the
                  Committee using the Black-Scholes Option Pricing Model; a
                  generally accepted binomial pricing model that takes into
                  account as of the Date of Grant (A) the Option Price or Grant
                  Price, as applicable, (B) the expected term of the Stock
                  Option or Appreciation Right, (C) the Market Value per Share
                  of the Common Stock on the Date of Grant, (D) the volatility
                  of the Common Stock, (E) the expected dividends on the Common
                  Stock and (F) the risk-free interest

                                       13
<PAGE>

                  rate for the expected term of the Stock Option or Appreciation
                  Right; or any other pricing model used by Belo to value Stock
                  Options for financial reporting purposes;

            (ii)  the fair market value of a Deferred Share, a Restricted Share
                  or a Performance Share awarded to a Director will be equal to
                  the Market Value per Share of the Common Stock on the Date of
                  Grant without regard to any restrictions, limitations or
                  conditions with respect to such Award; and

            (iii) the fair market value of a Performance Unit awarded to a
                  Director will be its stated value.

13.   TRANSFERABILITY. Unless the Committee determines otherwise on or after the
      Date of Grant, (i) no Award will be transferable by a Participant or
      Director other than by will or the laws of descent and distribution, and
      (ii) no Stock Option or Appreciation Right granted to a Participant or
      Director will be exercisable during the Participant's or Director's
      lifetime by any person other than the Participant or Director, or such
      person's guardian or legal representative.

14.   ADJUSTMENTS. The Committee may make or provide for such adjustments in (i)
      the maximum number of shares of Common Stock specified in Sections 4 and
      5, (ii) the number of shares of Common Stock covered by outstanding Stock
      Options, Appreciation Rights, Deferred Shares and Performance Shares
      granted under the Plan, (iii) the Option Price or Grant Price applicable
      to any Stock Options and Appreciation Rights, and (iv) the kind of shares
      covered by any such Awards (including shares of another issuer), as the
      Committee in its discretion, exercised in good faith, may determine is
      equitably required to prevent dilution or enlargement of the rights of
      Participants and Directors that otherwise would result from (x) any stock
      dividend, stock split, combination of shares, recapitalization or other
      change in the capital structure of Belo, or (y) any merger, consolidation,
      spin-off, split-off, spin-out, split-up, reorganization, partial or
      complete liquidation or other distribution of assets, issuance of rights
      or warrants to purchase securities, or (z) any other corporate transaction
      or event having an effect similar to any of the foregoing. In the event of
      any such transaction or event, the Committee, in its discretion, may
      provide in substitution for any or all outstanding Awards such alternative
      consideration as it, in good faith, may determine to be equitable in the
      circumstances and may require in connection with such substitution the
      surrender of all Awards so replaced. Moreover, the Committee may on or
      after the Date of Grant provide in the Evidence of Award under the Plan
      that the holder of the Award may elect to receive an equivalent award in
      respect of securities of the surviving entity of any merger, consolidation
      or other transaction or event having a similar effect, or the Committee
      may provide that the holder will automatically be entitled to receive such
      an equivalent award.

15.   FRACTIONAL SHARES. Belo will not be required to issue any fractional share
      of Common Stock pursuant to the Plan. The Committee may provide for the
      elimination of fractions or for the settlement of fractions in cash.

                                       14
<PAGE>

16.   WITHHOLDING TAXES. To the extent that Belo is required to withhold
      federal, state, local or foreign taxes in connection with any payment made
      or benefit realized by a Participant or other person under the Plan, and
      the amounts available to Belo for such withholding are insufficient, it
      will be a condition to the receipt of such payment or the realization of
      such benefit that the Participant or such other person make arrangements
      satisfactory to Belo for payment of the balance of such taxes required to
      be withheld. In addition, if permitted by the Committee, the Participant
      or such other person may elect to have any withholding obligation of Belo
      satisfied with shares of Common Stock that would otherwise be transferred
      to the Participant or such other person in payment of the Participant's
      Award. However, without the consent of the Committee, shares of Common
      Stock will not be withheld in excess of the minimum number of shares
      required to satisfy Belo's withholding obligation.

17.   ADMINISTRATION OF THE PLAN.

      (a)   Unless the administration of the Plan has been expressly assumed by
            the Board pursuant to a resolution of the Board, the Plan will be
            administered by the Committee, which at all times will consist of
            two or more Directors appointed by the Board, all of whom (i) will
            meet all applicable independence requirements of the New York Stock
            Exchange or the principal national securities exchange on which the
            Common Stock is traded and (ii) will qualify as "non-employee
            directors" as defined in Rule 16b-3 and as "outside directors" as
            defined in regulations adopted under Section 162(m) of the Code, as
            such terms may be amended from time to time. A majority of the
            Committee will constitute a quorum, and the action of the members of
            the Committee present at any meeting at which a quorum is present,
            or acts unanimously approved in writing, will be the acts of the
            Committee.

      (b)   The Committee has the full authority and discretion to administer
            the Plan and to take any action that is necessary or advisable in
            connection with the administration of the Plan, including without
            limitation the authority and discretion to interpret and construe
            any provision of the Plan or of any agreement, notification or
            document evidencing an Award. The interpretation and construction by
            the Committee of any such provision and any determination by the
            Committee pursuant to any provision of the Plan or of any such
            agreement, notification or document will be final and conclusive. No
            member of the Committee will be liable for any such action or
            determination made in good faith.

18.   AMENDMENTS AND OTHER MATTERS.

      (a)   The Plan may be amended from time to time by the Committee or the
            Board but may not be amended without further approval by the
            shareholders of Belo if such amendment would result in the Plan no
            longer satisfying any applicable requirements of the New York Stock
            Exchange (or the principal national securities exchange on which the
            Common Stock is traded), Rule 16b-3 or Section 162(m) of the Code.

                                       15
<PAGE>

      (b)   Neither the Committee nor the Board will authorize the amendment of
            any outstanding Stock Option to reduce the Option Price without the
            further approval of the shareholders of Belo. Furthermore, no Stock
            Option will be cancelled and replaced with Stock Options having a
            lower Option Price without further approval of the shareholders of
            Belo. This Section 18(b) is intended to prohibit the repricing of
            "underwater" Stock Options and will not be construed to prohibit the
            adjustments provided for in Section 14.

      (c)   The Committee may also permit Participants and Directors to elect to
            defer the issuance of Common Stock or the settlement of Awards in
            cash under the Plan pursuant to such rules, procedures or programs
            as it may establish for purposes of the Plan. The Committee also may
            provide that deferred issuances and settlements include the payment
            or crediting of dividend equivalents or interest on the deferral
            amounts.

      (d)   The Plan may be terminated at any time by action of the Board. The
            termination of the Plan will not adversely affect the terms of any
            outstanding Award.

      (e)   The Plan does not confer upon any Participant any right with respect
            to continuance of employment or other service with Belo or any
            Subsidiary, nor will it interfere in any way with any right Belo or
            any Subsidiary would otherwise have to terminate such Participant's
            employment or other service at any time.

      (f)   If the Committee determines, with the advice of legal counsel, that
            any provision of the Plan would prevent the payment of any Award
            intended to qualify as performance-based compensation within the
            meaning of Section 162(m) of the Code from so qualifying, such Plan
            provision will be invalid and cease to have any effect without
            affecting the validity or effectiveness of any other provision of
            the Plan.

19.   GOVERNING LAW. The Plan, all Awards and all actions taken under the Plan
      and the Awards will be governed in all respects in accordance with the
      laws of the State of Delaware, including without limitation, the Delaware
      statute of limitations, but without giving effect to the principles of
      conflicts of laws of such State.

                                       16<PAGE>

                                                                   EXHIBIT 10.25

                          MOLECULAR DEVICES CORPORATION
                             1995 STOCK OPTION PLAN

              ADOPTED BY THE BOARD OF DIRECTORS ON OCTOBER 30, 1995
                APPROVED BY THE STOCKHOLDERS ON DECEMBER 12, 1995
                    AMENDED BY THE BOARD ON JANUARY 29, 1999
                 AS APPROVED BY THE STOCKHOLDERS ON MAY 20, 1999
           MENDED BY THE BOARD ON FEBRUARY 15, 2001 AND APRIL 17, 2001
                 AS APPROVED BY THE STOCKHOLDERS ON MAY 24, 2001
                    AMENDED BY THE BOARD ON JANUARY 31, 2002
                 AS APPROVED BY THE STOCKHOLDERS ON MAY 23, 2002
                    AMENDED BY THE BOARD ON FEBRUARY 6, 2003
                 AS APPROVED BY THE STOCKHOLDERS ON MAY 29, 2003
                    AMENDED BY THE BOARD ON FEBRUARY 11, 2004
                AS APPROVED BY THE STOCKHOLDERS ON JUNE 30, 2004
                      AMENDED BY THE BOARD ON JULY 29, 2004

1.    PURPOSES.

      (a) The purpose of the Plan is to provide a means by which selected
      Employees and Directors of and Consultants to the Company, and its
      Affiliates, may be given an opportunity to purchase stock of the Company.

      (b) The Company, by means of the Plan, seeks to retain the services of
      persons who are now Employees or Directors of or Consultants to the
      Company or its Affiliates, to secure and retain the services of new
      Employees, Directors and Consultants, and to provide incentives for such
      persons to exert maximum efforts for the success of the Company and its
      Affiliates.

      (c) The Company intends that the Options issued under the Plan shall, in
      the discretion of the Board or any Committee to which responsibility for
      administration of the Plan has been delegated pursuant to subsection 3(c),
      be either Incentive Stock Options or Nonstatutory Stock Options. All
      Options shall be separately designated Incentive Stock Options or
      Nonstatutory Stock Options at the time of grant, and in such form as
      issued pursuant to Section 6, and a separate certificate or certificates
      will be issued for shares purchased on exercise of each type of Option.

2.    DEFINITIONS.

      (a) "Affiliate" means any parent corporation or subsidiary corporation,
      whether now or hereafter existing, as those terms are defined in Sections
      424(e) and (f) respectively, of the Code.

      (b) "Board" means the Board of Directors of the Company.

      (c) "Code" means the Internal Revenue Code of 1986, as amended.

<PAGE>

      (d) "Committee" means a Committee appointed by the Board in accordance
      with subsection 3(c) of the Plan.

      (e) "Company" means Molecular Devices Corporation.

      (f) "Consultant" means any person, including an advisor, engaged by the
      Company or an Affiliate to render consulting services and who is
      compensated for such services, provided that the term "Consultant" shall
      not include Directors who are paid only a director's fee by the Company or
      who are not compensated by the Company for their services as Directors.

      (g) "Continuous Status as an Employee, Director or Consultant" means the
      employment or relationship as a Director or Consultant is not interrupted
      or terminated. The Board, in its sole discretion, may determine whether
      Continuous Status as an Employee, Director or Consultant shall be
      considered interrupted in the case of: (i) any leave of absence approved
      by the Board, including sick leave, military leave, or any other personal
      leave; or (ii) transfers between locations of the Company or between the
      Company, Affiliates or their successors.

      (h) "Covered Employee" means the chief executive officer and the four (4)
      other highest compensated officers of the Company for whom total
      compensation is required to be reported to shareholders under the Exchange
      Act, as determined for purposes of Section 162(m) of the Code.

      (i) "Director" means a member of the Board.

      (j) "Employee" means any person, including Officers and Directors,
      employed by the Company or any Affiliate of the Company. Neither service
      as a Director nor payment of a director's fee by the Company shall be
      sufficient to constitute "employment" by the Company.

      (k) "Exchange Act" means the Securities Exchange Act of 1934, as amended.

      (l) "Fair Market Value" means as of any date, the value of the Common
      Stock of the Company determined as follows:

            (1) If the common stock is listed on any established stock exchange
            or a national market system, including without limitation the
            National Market System of the National Association of Securities
            Dealers, Inc. Automated Quotation ("NASDAQ") System, the Fair Market
            Value of a share of common stock shall be the closing sales price
            for such stock (or the closing bid, if no sales were reported) as
            quoted on such system or exchange (or the exchange with the greatest
            volume of trading in common stock) on the last market trading day
            prior to the day of determination, as reported in the Wall Street
            Journal or such other source as the Board deems reliable;

            (2) If the common stock is quoted on the NASDAQ System (but not on
            the National Market System thereof) or is regularly quoted by a
            recognized

                                       2
<PAGE>

            securities dealer but selling prices are not reported, the Fair
            Market Value of a share of common stock shall be the mean between
            the bid and asked prices for the common stock on the last market
            trading day prior to the day of determination, as reported in the
            Wall Street Journal or such other source as the Board deems
            reliable;

            (3) In the absence of an established market for the common stock,
            the Fair Market Value shall be determined in good faith by the
            Board.

      (m) "Incentive Stock Option" means an Option intended to qualify as an
      incentive stock option within the meaning of Section 422 of the Code and
      the regulations promulgated thereunder.

      (n) "Non-Employee Director" means a Director of the Company who either (i)
      is not a current Employee or Officer of the Company or its parent or a
      subsidiary, does not receive compensation (directly or indirectly) from
      the Company or its parent or a subsidiary for services rendered as a
      consultant or in any capacity other than as a Director (except for an
      amount as to which disclosure would not be required under Item 404(a) of
      Regulation S-K promulgated pursuant to the Securities Act ("Regulation
      S-K")), does not possess an interest in any other transaction as to which
      disclosure would be required under Item 404(a) of Regulation S-K and is
      not engaged in a business relationship as to which disclosure would be
      required under Item 404(b) of Regulation S-K; or (ii) is otherwise
      considered a "non-employee director" for purposes of Rule 16b-3.

      (o) "Nonstatutory Stock Option" means an Option not intended to qualify as
      an Incentive Stock Option.

      (p) "Officer" means a person who is an officer of the Company within the
      meaning of Section 16 of the Exchange Act and the rules and regulations
      promulgated thereunder.

      (q) "Option" means a stock option granted pursuant to the Plan.

      (r) "Option Agreement" means a written agreement between the Company and
      an Optionee evidencing the terms and conditions of an individual Option
      grant. Each Option Agreement shall be subject to the terms and conditions
      of the Plan.

      (s) "Optionee" means an Employee, Director or Consultant who holds an
      outstanding Option.

      (t) "Outside Director" means a Director who either (i) is not a current
      employee of the Company or an "affiliated corporation" (within the meaning
      of the Treasury regulations promulgated under Section 162(m) of the Code),
      is not a former employee of the Company or an "affiliated corporation"
      receiving compensation for prior services (other than benefits under a tax
      qualified pension plan), was not an officer of the Company or an
      "affiliated corporation" at any time, and is not currently receiving
      direct or indirect remuneration from the Company or an "affiliated
      corporation" for services

                                       3
<PAGE>

      in any capacity other than as a Director, or (ii) is otherwise considered
      an "outside director" for purposes of Section 162(m) of the Code.

      (u) "Plan" means this Molecular Devices 1995 Stock Option Plan.

      (v) "Rule 16b-3" means Rule 16b-3 of the Exchange Act or any successor to
      Rule 16b-3, as in effect when discretion is being exercised with respect
      to the Plan.

3.    ADMINISTRATION.

      (a) The Plan shall be administered by the Board unless and until the Board
      delegates administration to a Committee, as provided in subsection 3(c).

      (b) The Board shall have the power, subject to, and within the limitations
      of, the express provisions of the Plan:

            (1) To determine from time to time which of the persons eligible
            under the Plan shall be granted Options; when and how each Option
            shall be granted; whether an Option will be an Incentive Stock
            Option or a Nonstatutory Stock Option; the provisions of each Option
            granted (which need not be identical), including the time or times
            such Option may be exercised in whole or in part; and the number of
            shares for which an Option shall be granted to each such person.

            (2) To construe and interpret the Plan and Options granted under it,
            and to establish, amend and revoke rules and regulations for its
            administration. The Board, in the exercise of this power, may
            correct any defect, omission or inconsistency in the Plan or in any
            Option Agreement, in a manner and to the extent it shall deem
            necessary or expedient to make the Plan fully effective.

            (3) Subject to the provisions of Section 13 hereof, to amend the
            Plan or an Option as provided in Section 11.

            (4) Generally, to exercise such powers and to perform such acts as
            the Board deems necessary or expedient to promote the best interests
            of the Company.

      (c) The Board may delegate administration of the Plan to a committee
      composed of not fewer than two (2) members (the "Committee"), all of the
      members of which Committee shall be Non-Employee Directors and may also
      be, in the discretion of the Board, Outside Directors. If administration
      is delegated to a Committee, the Committee shall have, in connection with
      the administration of the Plan, the powers theretofore possessed by the
      Board (and references in this Plan to the Board shall thereafter be to the
      Committee), subject, however, to such resolutions, not inconsistent with
      the provisions of the Plan, as may be adopted from time to time by the
      Board. The Board may abolish the Committee at any time and revest in the
      Board the administration of the Plan. Notwithstanding anything in this
      Section 3 to the contrary, the Board or the Committee may delegate to a
      committee of one or more members of the Board the authority to grant
      Options to eligible persons who (1) are not then subject

                                       4
<PAGE>

      to Section 16 of the Exchange Act and/or (2) are either (i) not then
      Covered Employees and are not expected to be Covered Employees at the time
      of recognition of income resulting from such Option, or (ii) not persons
      with respect to whom the Company wishes to comply with Section 162(m) of
      the Code.

4.    SHARES SUBJECT TO THE PLAN.

      (a) Subject to the provisions of Section 10 relating to adjustments upon
      changes in stock, the stock that may be sold pursuant to Options shall not
      exceed in the aggregate four million fifty thousand (4,050,000) shares of
      Company common stock, plus up to one million (1,000,000) shares of Company
      Common Stock to the extent that such shares previously reserved under the
      Company's terminated 1988 Stock Option Plan (the "1988 Plan") (i) have
      not, as of the date of the adoption of this Plan, previously been issued
      pursuant to the exercise of options under the 1988 Plan, and (ii) are not,
      as of the date of adoption of this Plan, subject to options outstanding
      under the 1988 Plan. If any Option granted under the Plan or any stock
      option granted under the 1988 Plan shall for any reason expire or
      otherwise terminate, in whole or in part, without having been exercised in
      full, the stock not acquired shall revert to and again become available
      for issuance under this Plan.

      (b) The stock subject to the Plan may be unissued shares or reacquired
      shares, bought on the market or otherwise.

5.    ELIGIBILITY.

      (a) Incentive Stock Options may be granted only to Employees. Nonstatutory
      Stock Options may be granted only to Employees, Directors or Consultants.

      (b) No person shall be eligible for the grant of an Option if, at the time
      of grant, such person owns (or is deemed to own pursuant to Section 424(d)
      of the Code) stock possessing more than ten percent (10%) of the total
      combined voting power of all classes of stock of the Company or of any of
      its Affiliates unless the exercise price of such Option is at least one
      hundred ten percent (110%) of the Fair Market Value of such stock at the
      date of grant and the Option is not exercisable after the expiration of
      five (5) years from the date of grant.

      (c) Subject to the provisions of Section 10 relating to adjustments upon
      changes in stock, no person shall be eligible to be granted Options
      covering more than Five Hundred Thousand (500,000) shares of the Company's
      common stock in any calendar year.

6.    OPTION PROVISIONS.

Each Option shall be in such form and shall contain such terms and conditions as
the Board shall deem appropriate. The provisions of separate Options need not be
identical, but each Option shall include (through incorporation of provisions
hereof by reference in the Option or otherwise) the substance of each of the
following provisions:

                                       5
<PAGE>

      (a) Term. No Option shall be exercisable after the expiration of ten (10)
      years from the date it was granted.

      (b) Price. The exercise price of each Incentive Stock Option shall be not
      less than one hundred percent (100%) of the Fair Market Value of the stock
      subject to the Option on the date the Option is granted. The exercise
      price of each Nonstatutory Stock Option shall be not less than eighty-five
      percent (85%) of the Fair Market Value of the stock subject to the Option
      on the date the Option is granted. Notwithstanding the foregoing, an
      Option (whether and Incentive Stock Option or Nonstatutory Stock Option)
      may be granted with an option exercise price lower than that set forth
      above if such option is granted pursuant to an assumption or substitution
      for another option in a manner qualifying with the provisions of Section
      424(a) of the Code.

      (c) Consideration. The purchase price of stock acquired pursuant to an
      Option shall be paid, to the extent permitted by applicable statutes and
      regulations, either (i) in cash at the time the Option is exercised, or
      (ii) at the discretion of the Board or the Committee, at the time of the
      grant of the Option, (A) by delivery to the Company of other common stock
      of the Company, (B) according to a deferred payment or other arrangement
      (which may include, without limiting the generality of the foregoing, the
      use of other common stock of the Company) with the person to whom the
      Option is granted or to whom the Option is transferred pursuant to
      subsection 6(d), or (C) in any other form of legal consideration that may
      be acceptable to the Board.

In the case of any deferred payment arrangement, interest shall be payable at
least annually and shall be charged at the minimum rate of interest necessary to
avoid the treatment as interest, under any applicable provisions of the Code, of
any amounts other than amounts stated to be interest under the deferred payment
arrangement.

      (d) Transferability. An Option shall not be transferable except by will or
      by the laws of descent and distribution, and shall be exercisable during
      the lifetime of the person to whom the Option is granted only by such
      person. A Nonstatutory Stock Option shall not be transferable except by
      will or by the laws of descent and distribution or pursuant to a domestic
      relations order satisfying the requirements of Rule 16b-3 and the rules
      thereunder (a "DRO"), and shall be exercisable during the lifetime of the
      person to whom the Option is granted only by such person or any transferee
      pursuant to a DRO. The person to whom the Option is granted may, by
      delivering written notice to the Company, in a form satisfactory to the
      Company, designate a third party who, in the event of the death of the
      Optionee, shall thereafter be entitled to exercise the Option.

      (e) Vesting. The total number of shares of stock subject to an Option may,
      but need not, be allotted in periodic installments (which may, but need
      not, be equal). The Option Agreement may provide that from time to time
      during each of such installment periods, the Option may become exercisable
      ("vest") with respect to some or all of the shares allotted to that
      period, and may be exercised with respect to some or all of the shares
      allotted to such period and/or any prior period as to which the Option
      became vested but was not fully exercised. The Option may be subject to
      such other terms and conditions on the time or times when it may be
      exercised (which may be based on

                                       6
<PAGE>

      performance or other criteria) as the Board may deem appropriate. The
      provisions of this subsection 6(e) are subject to any Option provisions
      governing the minimum number of shares as to which an Option may be
      exercised.

      (f) Securities Law Compliance. The Company may require any Optionee, or
      any person to whom an Option is transferred under subsection 6(d), as a
      condition of exercising any such Option, (1) to give written assurances
      satisfactory to the Company as to the Optionee's knowledge and experience
      in financial and business matters and/or to employ a purchaser
      representative reasonably satisfactory to the Company who is knowledgeable
      and experienced in financial and business matters, and that he or she is
      capable of evaluating, alone or together with the purchaser
      representative, the merits and risks of exercising the Option; and (2) to
      give written assurances satisfactory to the Company stating that such
      person is acquiring the stock subject to the Option for such person's own
      account and not with any present intention of selling or otherwise
      distributing the stock. The foregoing requirements, and any assurances
      given pursuant to such requirements, shall be inoperative if (i) the
      issuance of the shares upon the exercise of the Option has been registered
      under a then currently effective registration statement under the
      Securities Act of 1933, as amended (the "Securities Act"), or (ii) as to
      any particular requirement, a determination is made by counsel for the
      Company that such requirement need not be met in the circumstances under
      the then applicable securities laws. The Company may, upon advice of
      counsel to the Company, place legends on stock certificates issued under
      the Plan as such counsel deems necessary or appropriate in order to comply
      with applicable securities laws, including, but not limited to, legends
      restricting the transfer of the stock.

      (g) Termination of Employment or Relationship as a Director or Consultant.
      In the event an Optionee's Continuous Status as an Employee, Director or
      Consultant terminates (other than upon the Optionee's death or
      disability), the Optionee may exercise his or her Option (to the extent
      that the Optionee was entitled to exercise it at the date of termination)
      but only within such period of time ending on the earlier of (i) the date
      three (3) months after the termination of the Optionee's Continuous Status
      as an Employee, Director or Consultant, or such longer or shorter period
      specified in the Option Agreement, or (ii) the expiration of the term of
      the Option as set forth in the Option Agreement. If, after termination,
      the Optionee does not exercise his or her Option within the time specified
      in the Option Agreement, the Option shall terminate, and the shares
      covered by such Option shall revert to and again become available for
      issuance under the Plan.

      (h) Disability of Optionee. In the event an Optionee's Continuous Status
      as an Employee, Director or Consultant terminates as a result of the
      Optionee's disability, the Optionee may exercise his or her Option (to the
      extent that the Optionee was entitled to exercise it at the date of
      termination), but only within such period of time ending on the earlier of
      (i) the date twelve (12) months following such termination (or such longer
      or shorter period specified in the Option Agreement), or (ii) the
      expiration of the term of the Option as set forth in the Option Agreement.
      If, at the date of termination, the Optionee is not entitled to exercise
      his or her entire Option, the shares covered by the unexercisable portion
      of the Option shall revert to and again become available for

                                       7
<PAGE>

      issuance under the Plan. If, after termination, the Optionee does not
      exercise his or her Option within the time specified herein, the Option
      shall terminate, and the shares covered by such Option shall revert to and
      again become available for issuance under the Plan.

      (i) Death of Optionee. In the event of the death of an Optionee during, or
      within a period specified in the Option after the termination of, the
      Optionee's Continuous Status as an Employee, Director or Consultant, the
      Option may be exercised (to the extent the Optionee was entitled to
      exercise the Option at the date of death) by the Optionee's estate, by a
      person who acquired the right to exercise the Option by bequest or
      inheritance or by a person designated to exercise the option upon the
      Optionee's death pursuant to subsection 6(d), but only within the period
      ending on the earlier of (i) the date eighteen (18) months following the
      date of death (or such longer or shorter period specified in the Option
      Agreement), or (ii) the expiration of the term of such Option as set forth
      in the Option Agreement. If, at the time of death, the Optionee was not
      entitled to exercise his or her entire Option, the shares covered by the
      unexercisable portion of the Option shall revert to and again become
      available for issuance under the Plan. If, after death, the Option is not
      exercised within the time specified herein, the Option shall terminate,
      and the shares covered by such Option shall revert to and again become
      available for issuance under the Plan.

      (j) Early Exercise. The Option may, but need not, include a provision
      whereby the Optionee may elect at any time while an Employee, Director or
      Consultant to exercise the Option as to any part or all of the shares
      subject to the Option prior to the full vesting of the Option. Any
      unvested shares so purchased may be subject to a repurchase right in favor
      of the Company or to any other restriction the Board determines to be
      appropriate.

      (k) Withholding. To the extent provided by the terms of an Option
      Agreement, the Optionee may satisfy any federal, state or local tax
      withholding obligation relating to the exercise of such Option by any of
      the following means or by a combination of such means: (1) tendering a
      cash payment; (2) authorizing the Company to withhold shares from the
      shares of the common stock otherwise issuable to the Optionee as a result
      of the exercise of the Option; or (3) delivering to the Company owned and
      unencumbered shares of the common stock of the Company.

7.    COVENANTS OF THE COMPANY.

      (a) During the terms of the Options, the Company shall keep available at
      all times the number of shares of stock required to satisfy such Options.

      (b) The Company shall seek to obtain from each regulatory commission or
      agency having jurisdiction over the Plan such authority as may be required
      to issue and sell shares of stock upon exercise of the Options; provided,
      however, that this undertaking shall not require the Company to register
      under the Securities Act either the Plan, any Option or any stock issued
      or issuable pursuant to any such Option. If, after reasonable efforts, the
      Company is unable to obtain from any such regulatory commission or

                                       8
<PAGE>

      agency the authority which counsel for the Company deems necessary for the
      lawful issuance and sale of stock under the Plan, the Company shall be
      relieved from any liability for failure to issue and sell stock upon
      exercise of such Options unless and until such authority is obtained.

8.    USE OF PROCEEDS FROM STOCK.

Proceeds from the sale of stock pursuant to Options shall constitute general
funds of the Company.

9.    MISCELLANEOUS.

      (a) The Board shall have the power to accelerate the time at which an
      Option may first be exercised or the time during which an Option or any
      part thereof will vest pursuant to subsection 6(e), notwithstanding the
      provisions in the Option stating the time at which it may first be
      exercised or the time during which it will vest.

      (b) Neither an Optionee nor any person to whom an Option is transferred
      under subsection 6(d) shall be deemed to be the holder of, or to have any
      of the rights of a holder with respect to, any shares subject to such
      Option unless and until such person has satisfied all requirements for
      exercise of the Option pursuant to its terms.

      (c) Nothing in the Plan or any instrument executed or Option granted
      pursuant thereto shall confer upon any Employee, Director, Consultant or
      Optionee any right to continue in the employ of the Company or any
      Affiliate (or to continue acting as a Director or Consultant) or shall
      affect the right of the Company or any Affiliate to terminate the
      employment or relationship as a Director or Consultant of any Employee,
      Director, Consultant or Optionee with or without cause.

      (d) To the extent that the aggregate Fair Market Value (determined at the
      time of grant) of stock with respect to which Incentive Stock Options
      granted after 1986 are exercisable for the first time by any Optionee
      during any calendar year under all plans of the Company and its Affiliates
      exceeds one hundred thousand dollars ($100,000), the Options or portions
      thereof which exceed such limit (according to the order in which they were
      granted) shall be treated as Nonstatutory Stock Options.

10.   ADJUSTMENTS UPON CHANGES IN STOCK.

      (a) If any change is made in the stock subject to the Plan, or subject to
      any Option (through merger, consolidation, reorganization,
      recapitalization, stock dividend, dividend in property other than cash,
      stock split, liquidating dividend, combination of shares, exchange of
      shares, change in corporate structure or otherwise), the Plan will be
      appropriately adjusted in the types of securities and maximum number of
      shares subject to the Plan pursuant to subsection 4(a) and the maximum
      number of shares subject to award to any person during any calendar year
      pursuant to subsection 5(c), and the outstanding Options will be
      appropriately adjusted in the types of securities and number of shares and
      price per share of stock subject to such outstanding Options.

                                       9
<PAGE>

      (b) In the event of: (1) a dissolution, liquidation or sale of
      substantially all of the assets of the Company; (2) a merger or
      consolidation in which the Company is not the surviving corporation; or
      (3) a reverse merger in which the Company is the surviving corporation but
      the shares of the Company's common stock outstanding immediately preceding
      the merger are converted by virtue of the merger into other property,
      whether in the form of securities, cash or otherwise, then to the extent
      permitted by applicable law: (i) any surviving corporation shall assume
      any Options outstanding under the Plan or shall substitute similar Options
      for those outstanding under the Plan, or (ii) such Options shall continue
      in full force and effect. In the event any surviving corporation refuses
      to assume or continue such Options, or to substitute similar options for
      those outstanding under the Plan, then, with respect to Options held by
      persons then performing services as Employees, Directors or Consultants,
      then such Options shall be terminated if not exercised prior to such
      event; provided, however, that the time during which such Options may be
      exercised may, at the discretion of the Board of Directors, be accelerated
      and the Options terminated if not exercised prior to such event.

11.   AMENDMENT OF THE PLAN AND OPTIONS.

      (a) The Board at any time, and from time to time, may amend the Plan.
      However, except as provided in Section 10 relating to adjustments upon
      changes in stock, no amendment shall be effective unless approved by the
      stockholders of the Company within twelve (12) months before or after the
      adoption of the amendment, where the amendment will:

            (1) Increase the number of shares reserved for Options under the
            Plan;

            (2) Modify the requirements as to eligibility for participation in
            the Plan (to the extent such modification requires stockholder
            approval in order for the Plan to satisfy the requirements of
            Section 422 of the Code or any Nasdaq or securities exchange listing
            requirements); or

            (3) Modify the Plan in any other way if such modification requires
            stockholder approval in order for the Plan to satisfy the
            requirements of Section 422 of the Code or to comply with the
            requirements of Rule 16b-3, or any Nasdaq or securities exchange
            listing requirements.

      (b) The Board may in its sole discretion submit any other amendment to the
      Plan for stockholder approval, including, but not limited to, amendments
      to the Plan intended to satisfy the requirements of Section 162(m) of the
      Code and the regulations promulgated thereunder regarding the exclusion of
      performance-based compensation from the limit on corporate deductibility
      of compensation paid to certain executive officers.

      (c) It is expressly contemplated that the Board may amend the Plan in any
      respect the Board deems necessary or advisable to provide Optionees with
      the maximum benefits provided or to be provided under the provisions of
      the Code and the regulations promulgated thereunder relating to Incentive
      Stock Options and/or to bring the Plan and/or Incentive Stock Options
      granted under it into compliance therewith.

                                       10
<PAGE>

      (d) Rights and obligations under any Option granted before amendment of
      the Plan shall not be impaired by any amendment of the Plan unless (i) the
      Company requests the consent of the person to whom the Option was granted
      and (ii) such person consents in writing.

      (e) Subject to the provisions of Section 13 hereof, the Board at any time,
      and from time to time, may amend the terms of any one or more Options;
      provided, however, that the rights and obligations under any Option shall
      not be impaired by any such amendment unless (i) the Company requests the
      consent of the person to whom the Option was granted and (ii) such person
      consents in writing.

12.   TERMINATION OR SUSPENSION OF THE PLAN.

      (a) The Board may suspend or terminate the Plan at any time. Unless sooner
      terminated, the Plan shall terminate on October 29, 2005, which shall be
      within ten (10) years from the date the Plan is adopted by the Board or
      approved by the stockholders of the Company, whichever is earlier. No
      Options may be granted under the Plan while the Plan is suspended or after
      it is terminated.

      (b) Rights and obligations under any Option granted while the Plan is in
      effect shall not be impaired by suspension or termination of the Plan,
      except with the consent of the person to whom the Option was granted.

13. PRIOR STOCKHOLDER APPROVAL OF OPTION REPRICINGS.

Notwithstanding anything to the contrary herein, the Board shall not, without
first obtaining the approval of the stockholders of the Company, (i) reduce the
exercise price of any outstanding Option under the Plan, (ii) cancel any
outstanding Option under the Plan and replace it with an Option with a lower
exercise price, (iii) accept any outstanding Option in exchange for a new Option
with a lower exercise price, or (iv) take any other action that is treated as a
"repricing" under generally accepted accounting principles.

14.   EFFECTIVE DATE OF PLAN.

The Plan shall become effective as determined by the Board, but no Options
granted under the Plan shall be exercised unless and until the Plan has been
approved by the stockholders of the Company, which approval shall be within
twelve (12) months before or after the date the Plan is adopted by the Board,
and, if required, an appropriate permit has been issued by the Commissioner of
Corporations of the State of California.

                                       11

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00070-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00070-of-00352.parquet"}]]