Document:

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                                                                     EXHIBIT 4.6

NEITHER THIS SECURITY NOR THE SECURITIES INTO WHICH THIS SECURITY IS EXERCISABLE
HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES
ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO
SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
COMPANY. THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED
IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
SECURITIES.

                          COMMON STOCK PURCHASE WARRANT

                  To Purchase 104,790 Shares of Common Stock of

                                 MATRITECH, INC.

                  THIS COMMON STOCK PURCHASE WARRANT (the "Warrant") CERTIFIES
that, for value received, _____________ (the "Holder"), is entitled, upon the
terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after November 6, 2003 (the "Initial Exercise
Date") and on or prior to the close of business on the fifth anniversary of the
Initial Exercise Date (the "Termination Date") but not thereafter, to subscribe
for and purchase from Matritech, Inc., a corporation incorporated in the State
of Delaware (the "Company"), up to 104,790 shares (the "Warrant Shares") of
Common Stock, par value $0.01 per share, of the Company (the "Common Stock").
The purchase price of one share of Common Stock (the "Exercise Price") under
this Warrant shall be $2.45, subject to adjustment hereunder. The Exercise Price
and the number of Warrant Shares for which the Warrant is exercisable shall be
subject to adjustment as provided herein. CAPITALIZED TERMS USED AND NOT
OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS SET FORTH IN THAT CERTAIN
SECURITIES PURCHASE AGREEMENT (THE "PURCHASE AGREEMENT"), DATED OCTOBER 17,
2003, BETWEEN THE COMPANY AND THE PURCHASERS SIGNATORY THERETO.

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     1.   Title to Warrant. Prior to the Termination Date and subject to
compliance with applicable laws and Section 7 of this Warrant, this Warrant and
all rights hereunder are transferable, in whole or in part, at the office or
agency of the Company by the Holder in person or by duly authorized attorney,
upon surrender of this Warrant together with the Assignment Form annexed hereto
properly endorsed; provided, however, during any 12 month period and except for
transfers to an Affiliate of the Holder, the Holder, collectively with successor
Holders, may not transfer this Warrant in more than two transactions to more
than four assignees per transaction. The transferee shall sign an investment
letter in form and substance reasonably satisfactory to the Company.

     2.   Authorization of Shares. The Company covenants that all Warrant Shares
which may be issued upon the exercise of the purchase rights represented by this
Warrant will, upon exercise of the purchase rights represented by this Warrant
and in accordance with the terms hereof, be duly authorized, validly issued,
fully paid and nonassessable and free from all taxes, liens and charges in
respect of the issue thereof imposed by the Company other than restrictions on
transfer provided for in the Transaction Documents.

     3.   Exercise of Warrant.

          (a) Except as provided in Section 4 herein, exercise of the purchase
     rights represented by this Warrant may be made at any time or times on or
     after the Initial Exercise Date and on or before the Termination Date by
     the surrender of this Warrant and the Notice of Exercise Form annexed
     hereto duly executed, at the office of the Company (or such other office or
     agency of the Company as it may designate by notice in writing to the
     registered Holder at the address of such Holder appearing on the books of
     the Company) and upon payment of the Exercise Price of the shares thereby
     purchased by wire transfer or cashier's check drawn on a United States bank
     or by means of a cashless exercise pursuant to Section 3(d), the Holder
     shall be entitled to receive a certificate for the number of Warrant Shares
     so purchased. Certificates for shares purchased hereunder shall be
     delivered to the Holder within five (5) Trading Days after the date on
     which this Warrant shall have been exercised as aforesaid. This Warrant
     shall be deemed to have been exercised and such certificate or certificates
     shall be deemed to have been issued, and Holder or any other person so
     designated to be named therein shall be deemed to have become a holder of
     record of such shares for all purposes, as of the date the Warrant has been
     exercised by payment to the Company of the Exercise Price and all taxes
     required to be paid by the Holder, if any, pursuant to Section 5 prior to
     the issuance of such shares, have been paid. If the Company fails to
     deliver to the Holder a certificate or certificates representing the
     Warrant Shares pursuant to this Section 3(a) by the fifth Trading Day after
     the date of exercise, then the Holder will have the right to rescind such
     exercise. In addition to any other rights available to the Holder, if the
     Company fails to deliver to the Holder a certificate or certificates
     representing the Warrant Shares pursuant to an exercise by the fifth
     Trading Day after the date of exercise and the Holder has not rescinded
     such exercise pursuant to this Section 3(a), and if after such fifth
     Trading Day the Holder is required by its broker to purchase (in an open
     market transaction or otherwise) shares of Common Stock to deliver in
     satisfaction of a sale by the Holder of

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     the Warrant Shares which the Holder anticipated receiving upon such
     exercise (a "Buy-In"), then the Company shall (1) pay in cash to the Holder
     the amount by which (x) the Holder's total purchase price (including
     brokerage commissions, if any) for the shares of Common Stock so purchased
     exceeds (y) the amount obtained by multiplying (A) the number of Warrant
     Shares that the Company was required to deliver to the Holder in connection
     with the exercise at issue times (B) the price at which the sell order
     giving rise to such purchase obligation was executed, and (2) at the option
     of the Holder, either reinstate the portion of the Warrant and equivalent
     number of Warrant Shares for which such exercise was not honored or deliver
     to the Holder the number of shares of Common Stock that would have been
     issued had the Company timely complied with its exercise and delivery
     obligations hereunder. For example, if the Holder purchases Common Stock
     having a total purchase price of $11,000 to cover a Buy-In with respect to
     an attempted exercise of shares of Common Stock with an aggregate sale
     price giving rise to such purchase obligation of $10,000, under clause (1)
     of the immediately preceding sentence the Company shall be required to pay
     the Holder $1,000. The Holder shall provide the Company written notice
     indicating the amounts payable to the Holder in respect of the Buy-In,
     together with applicable confirmations and other evidence reasonably
     requested by the Company. Nothing herein shall limit a Holder's right to
     pursue any other remedies available to it hereunder, at law or in equity
     including, without limitation, a decree of specific performance and/or
     injunctive relief with respect to the Company's failure to timely deliver
     certificates representing shares of Common Stock upon exercise of the
     Warrant as required pursuant to the terms hereof.

          (b) If this Warrant shall have been exercised in part, the Company
     shall, at the time of delivery of the certificate or certificates
     representing Warrant Shares, deliver to Holder a new Warrant evidencing the
     rights of Holder to purchase the unpurchased Warrant Shares called for by
     this Warrant, which new Warrant shall in all other respects be identical
     with this Warrant.

          (c) The Company shall not effect any exercise of this Warrant, and the
     Holder shall not have the right to exercise any portion of this Warrant,
     pursuant to Section 3(a) or otherwise, to the extent that after giving
     effect to such issuance after exercise, the Holder (together with the
     Holder's affiliates), as set forth on the applicable Notice of Exercise,
     would beneficially own in excess of 4.99% of the number of shares of the
     Common Stock outstanding immediately after giving effect to such issuance.
     For purposes of the foregoing sentence, the number of shares of Common
     Stock beneficially owned by the Holder and its affiliates shall include the
     number of shares of Common Stock issuable upon exercise of this Warrant
     with respect to which the determination of such sentence is being made, but
     shall exclude the number of shares of Common Stock which would be issuable
     upon (A) exercise of the remaining, nonexercised portion of this Warrant
     beneficially owned by the Holder or any of its affiliates and (B) exercise
     or conversion of the unexercised or nonconverted portion of any other
     securities of the Company (including, without limitation, any other
     Warrants) subject to a limitation on conversion or exercise analogous to
     the limitation contained herein beneficially owned by the Holder or any of
     its affiliates. Except as set forth in the preceding sentence, for purposes
     of this Section 3(c), beneficial ownership shall be calculated in
     accordance with Section 13(d) of the Exchange Act. To the extent that the
     limitation contained in this Section 3(c) applies, the determination of
     whether this Warrant is exercisable (in relation to other securities owned
     by the Holder) and of which a portion of this Warrant is exercisable shall
     be in the sole discretion of such Holder, and the submission of a Notice of
     Exercise shall be deemed to be such Holder's determination of whether this
     Warrant is exercisable (in relation to other securities owned by such
     Holder) and of which portion of this Warrant is exercisable, in each case
     subject to such aggregate percentage limitation, and the Company shall have
     no obligation to verify or confirm the accuracy of such determination. For
     purposes of this

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     Section 3(c), in determining the number of outstanding shares of Common
     Stock, the Holder may rely on the number of outstanding shares of Common
     Stock as reflected in (x) the Company's most recent Form 10-Q or Form 10-K,
     as the case may be, (y) a more recent public announcement by the Company or
     (z) any other notice by the Company or the Company's Transfer Agent setting
     forth the number of shares of Common Stock outstanding. Upon the written or
     oral request of the Holder, the Company shall within two Trading Days
     confirm orally and in writing to the Holder the number of shares of Common
     Stock then outstanding. In any case, the number of outstanding shares of
     Common Stock shall be determined after giving effect to the conversion or
     exercise of securities of the Company, including this Warrant, by the
     Holder or its affiliates since the date as of which such number of
     outstanding shares of Common Stock was reported. The provisions of this
     Section 3(c) may be waived by the Holder upon, at the election of the
     Holder, not less than 61 days' prior notice to the Company, and the
     provisions of this Section 3(c) shall continue to apply until such 61st day
     (or such later date, as determined by the Holder, as may be specified in
     such notice of waiver).

          (d) If at any time after one year from the date of issuance of this
     Warrant there is no effective Registration Statement registering the resale
     of the Warrant Shares by the Holder, this Warrant may also be exercised at
     such time by means of a "cashless exercise" in which the Holder shall be
     entitled to receive a certificate for the number of Warrant Shares equal to
     the quotient obtained by dividing [(A-B) (X)] by (A), where:

      (A) =  the VWAP on the Trading Day immediately preceding the date of
             such election;

      (B) =  the Exercise Price of the Warrants, as adjusted; and

      (X) =  the number of Warrant Shares issuable upon exercise of the
             Warrants in accordance with the terms of this Warrant.

     4.   No Fractional Shares or Scrip. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this
Warrant. As to any fraction of a share which Holder would otherwise be entitled
to purchase upon such exercise, the Company shall pay a cash adjustment in
respect of such final fraction in an amount equal to such fraction multiplied by
the Exercise Price.

     5.   Charges, Taxes and Expenses. Issuance of certificates for Warrant
Shares shall be made without charge to the Holder for any issue or transfer tax
or other incidental expense in respect of the issuance of such certificate, all
of which taxes and expenses shall be

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paid by the Company, and such certificates shall be issued in the name of the
Holder or in such name or names as may be directed by the Holder; provided,
however, that in the event certificates for Warrant Shares are to be issued in a
name other than the name of the Holder, this Warrant when surrendered for
exercise shall be accompanied by the Assignment Form attached hereto duly
executed by the Holder; and the Company may require, as a condition thereto, the
payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto.

     6.   Closing of Books. The Company will not close its stockholder books or
records in any manner which prevents the timely exercise of this Warrant,
pursuant to the terms hereof.

     7.   Transfer, Division and Combination.

          (a) Subject to compliance with any applicable securities laws and the
     conditions set forth in Sections 1 and 7(f) hereof and to the provisions of
     Section 4.1 of the Purchase Agreement, this Warrant and all rights
     hereunder are transferable, in whole or in part, upon surrender of this
     Warrant at the principal office of the Company, together with a written
     assignment of this Warrant substantially in the form attached hereto duly
     executed by the Holder or its agent or attorney and funds sufficient to pay
     any transfer taxes payable upon the making of such transfer. Upon such
     surrender and, if required, such payment, the Company shall execute and
     deliver a new Warrant or Warrants in the name of the assignee or assignees
     and in the denomination or denominations specified in such instrument of
     assignment, and shall issue to the assignor a new Warrant evidencing the
     portion of this Warrant not so assigned, and this Warrant shall promptly be
     cancelled. A Warrant, if properly assigned, may be exercised by a new
     holder for the purchase of Warrant Shares without having a new Warrant
     issued.

          (b) This Warrant may be divided or combined with other Warrants upon
     presentation hereof at the aforesaid office of the Company, together with a
     written notice specifying the names and denominations in which new Warrants
     are to be issued, signed by the Holder or its agent or attorney. Subject to
     compliance with Section 7(a), as to any transfer which may be involved in
     such division or combination, the Company shall execute and deliver a new
     Warrant or Warrants in exchange for the Warrant or Warrants to be divided
     or combined in accordance with such notice.

          (c) The Company shall prepare, issue and deliver at its own expense
     (other than transfer taxes) the new Warrant or Warrants under this Section
     7.

          (d) The Company agrees to maintain, at its aforesaid office, books for
     the registration and the registration of transfer of the Warrants.

          (e) If, at the time of the surrender of this Warrant in connection
     with any transfer of this Warrant, the transfer of this Warrant shall not
     be registered pursuant to an effective registration statement under the
     Securities Act and under applicable state securities or blue sky laws, the
     Company may require, as a condition of allowing such transfer (i) that the
     Holder or transferee of this Warrant, as the case may be, furnish to the
     Company a written opinion of counsel (which opinion shall be in form,
     substance and

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     scope customary for opinions of counsel in comparable transactions) to the
     effect that such transfer may be made without registration under the
     Securities Act and under applicable state securities or blue sky laws, (ii)
     that the holder or transferee execute and deliver to the Company an
     investment letter in form and substance acceptable to the Company and (iii)
     that the transferee be an "accredited investor" as defined in Rule
     501(a)(1), (a)(2), (a)(3), (a)(7), or (a)(8) promulgated under the
     Securities Act or a qualified institutional buyer as defined in Rule
     144A(a) under the Securities Act.

     8.   No Rights as Shareholder until Exercise. This Warrant does not entitle
the Holder to any voting rights or other rights as a shareholder of the Company
prior to the exercise hereof. Upon the surrender of this Warrant and the payment
of the aggregate Exercise Price (or by means of a cashless exercise), the
Warrant Shares so purchased shall be and be deemed to be issued to such Holder
as the record owner of such shares as of the close of business on the later of
the date of such surrender or payment.

     9.   Loss, Theft, Destruction or Mutilation of Warrant. The Company
covenants that upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant or any stock
certificate relating to the Warrant Shares, and in case of loss, theft or
destruction, of indemnity or security reasonably satisfactory to it (which, in
the case of the Warrant, shall not include the posting of any bond), and upon
surrender and cancellation of such Warrant or stock certificate, if mutilated,
the Company will make and deliver a new Warrant or stock certificate of like
tenor and dated as of such cancellation, in lieu of such Warrant or stock
certificate.

     10.  Saturdays, Sundays, Holidays, etc. If the last or appointed day for
the taking of any action or the expiration of any right required or granted
herein shall be a Saturday, Sunday or a legal holiday, then such action may be
taken or such right may be exercised on the next succeeding day not a Saturday,
Sunday or legal holiday.

     11.  Adjustments of Exercise Price and Number of Warrant Shares. The number
and kind of securities purchasable upon the exercise of this Warrant and the
Exercise Price shall be subject to adjustment from time to time upon the
happening of any of the following. In case the Company shall (i) pay a dividend
in shares of Common Stock or make a distribution in shares of Common Stock to
holders of its outstanding Common Stock, (ii) subdivide its outstanding shares
of Common Stock into a greater number of shares, (iii) combine its outstanding
shares of Common Stock into a smaller number of shares of Common Stock, or (iv)
issue any shares of its capital stock in a reclassification of the Common Stock,
then the number of Warrant Shares purchasable upon exercise of this Warrant
immediately prior thereto shall be adjusted so that the Holder shall be entitled
to receive the kind and number of Warrant Shares or other securities of the
Company which it would have owned or have been entitled to receive had such
Warrant been exercised in advance thereof. Upon each such adjustment of the kind
and number of Warrant Shares or other securities of the Company which are
purchasable hereunder, the Holder shall thereafter be entitled to purchase the
number of Warrant Shares or other securities resulting from such adjustment at
an Exercise Price per Warrant Share or other security obtained by multiplying
the Exercise Price in effect immediately prior to such adjustment by the number
of Warrant Shares purchasable pursuant hereto immediately prior to such
adjustment and dividing by the number of Warrant Shares or other securities of
the Company resulting from such adjustment.

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An adjustment made pursuant to this paragraph shall become effective immediately
after the effective date of such event retroactive to the record date, if any,
for such event.

     12.  Reorganization, Reclassification, Merger, Consolidation or Disposition
of Assets. In case the Company shall reorganize its capital, reclassify its
capital stock, consolidate or merge with or into another corporation (where the
Company is not the surviving corporation or where there is a change in or
distribution with respect to the Common Stock of the Company), or sell, transfer
or otherwise dispose of all or substantially all its property, assets or
business to another corporation and, pursuant to the terms of such
reorganization, reclassification, merger, consolidation or disposition of
assets, shares of common stock of the successor or acquiring corporation, or any
cash, shares of stock or other securities or property of any nature whatsoever
(including warrants or other subscription or purchase rights) in addition to or
in lieu of common stock of the successor or acquiring corporation ("Other
Property"), are to be received by or distributed to the holders of Common Stock
of the Company, then the Holder shall have the right thereafter to receive upon
exercise of this Warrant, the number of shares of Common Stock of the successor
or acquiring corporation or of the Company, if it is the surviving corporation,
and Other Property receivable upon or as a result of such reorganization,
reclassification, merger, consolidation or disposition of assets by a Holder of
the number of shares of Common Stock for which this Warrant is exercisable
immediately prior to such event. In case of any such reorganization,
reclassification, merger, consolidation or disposition of assets, the successor
or acquiring corporation (if other than the Company) shall expressly assume the
due and punctual observance and performance of each and every covenant and
condition of this Warrant to be performed and observed by the Company and all
the obligations and liabilities hereunder, subject to such modifications as may
be deemed appropriate (as determined in good faith by resolution of the Board of
Directors of the Company) in order to provide for adjustments of Warrant Shares
for which this Warrant is exercisable which shall be as nearly equivalent as
practicable to the adjustments provided for in this Section 12. For purposes of
this Section 12, "common stock of the successor or acquiring corporation" shall
include stock of such corporation of any class which is not preferred as to
dividends or assets over any other class of stock of such corporation and which
is not subject to redemption and shall also include any evidences of
indebtedness, shares of stock or other securities which are convertible into or
exchangeable for any such stock, either immediately or upon the arrival of a
specified date or the happening of a specified event and any warrants or other
rights to subscribe for or purchase any such stock. The foregoing provisions of
this Section 12 shall similarly apply to successive reorganizations,
reclassifications, mergers, consolidations or disposition of assets.

     13.  Voluntary Adjustment by the Company. The Company may at any time
during the term of this Warrant reduce the then current Exercise Price to any
amount and for any period of time deemed appropriate by the Board of Directors
of the Company.

     14.  Notice of Adjustment. Whenever the number of Warrant Shares or number
or kind of securities or other property purchasable upon the exercise of this
Warrant or the Exercise Price is adjusted, as herein provided, the Company shall
give notice thereof to the Holder, which notice shall state the number of
Warrant Shares (and other securities or property) purchasable upon the exercise
of this Warrant and the Exercise Price of such Warrant Shares (and other

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securities or property) after such adjustment, setting forth a brief statement
of the facts requiring such adjustment and setting forth the computation by
which such adjustment was made.

     15.  Notice of Corporate Action. If at any time:

          (a) the Company shall take a record of the holders of its Common Stock
     for the purpose of entitling them to receive a dividend or other
     distribution, or any right to subscribe for or purchase any evidences of
     its indebtedness, any shares of stock of any class or any other securities
     or property, or to receive any other right, or

          (b) there shall be any capital reorganization of the Company, any
     reclassification or recapitalization of the capital stock of the Company or
     any consolidation or merger of the Company with, or any sale, transfer or
     other disposition of all or substantially all the property, assets or
     business of the Company to, another corporation or,

          (c) there shall be a voluntary or involuntary dissolution, liquidation
     or winding up of the Company;

then, in any one or more of such cases, the Company shall give to Holder (i) at
least 10 days' prior written notice of the date on which a record date shall be
selected for such dividend, distribution or right or for determining rights to
vote in respect of any such reorganization, reclassification, merger,
consolidation, sale, transfer, disposition, liquidation or winding up, and (ii)
in the case of any such reorganization, reclassification, merger, consolidation,
sale, transfer, disposition, dissolution, liquidation or winding up, at least 10
days' prior written notice of the date when the same shall take place. Such
notice in accordance with the foregoing clause also shall specify (i) the date
on which any such record is to be taken for the purpose of such dividend,
distribution or right, the date on which the holders of Common Stock shall be
entitled to any such dividend, distribution or right, and the amount and
character thereof, and (ii) the date on which any such reorganization,
reclassification, merger, consolidation, sale, transfer, disposition,
dissolution, liquidation or winding up is to take place and the time, if any
such time is to be fixed, as of which the holders of Common Stock shall be
entitled to exchange their Warrant Shares for securities or other property
deliverable upon such disposition, dissolution, liquidation or winding up. Each
such written notice shall be sufficiently given if addressed to Holder at the
last address of Holder appearing on the books of the Company and delivered in
accordance with Section 17(d).

     16.  Authorized Shares. The Company covenants that during the period the
Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock a sufficient number of shares to provide for the issuance of the Warrant
Shares upon the exercise of any purchase rights under this Warrant. The Company
further covenants that its issuance of this Warrant shall constitute full
authority to its officers who are charged with the duty of executing stock
certificates to execute and issue the necessary certificates for the Warrant
Shares upon the exercise of the purchase rights under this Warrant. The Company
will take all such reasonable action as may be necessary to assure that such
Warrant Shares may be issued as provided herein without violation of any
applicable law or regulation, or of any requirements of the Trading Market upon
which the Common Stock may be listed.

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          Except and to the extent as waived or consented to by the Holder, the
Company shall not by any action, including, without limitation, amending its
certificate of incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any of
the terms of this Warrant, but will at all times in good faith assist in the
carrying out of all such terms and in the taking of all such actions as may be
necessary or appropriate to protect the rights of Holder as set forth in this
Warrant against impairment. Without limiting the generality of the foregoing,
the Company will (a) not increase the par value of any Warrant Shares above the
amount payable therefor upon such exercise immediately prior to such increase in
par value, (b) take all such action as may be necessary or appropriate in order
that the Company may validly and legally issue fully paid and nonassessable
Warrant Shares upon the exercise of this Warrant, and (c) use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents
from any public regulatory body having jurisdiction thereof as may be necessary
to enable the Company to perform its obligations under this Warrant.

     17.  Miscellaneous.

          (a) Jurisdiction. This Warrant shall constitute a contract under the
     laws of New York, without regard to its conflict of law, principles or
     rules.

          (b) Restrictions. The Holder acknowledges that the Warrant Shares
     acquired upon the exercise of this Warrant, if not registered, will have
     restrictions upon resale imposed by state and federal securities laws.

          (c) Nonwaiver and Expenses. No course of dealing or any delay or
     failure to exercise any right hereunder on the part of Holder shall operate
     as a waiver of such right or otherwise prejudice Holder's rights, powers or
     remedies, notwithstanding all rights hereunder terminate on the Termination
     Date. If the Company willfully and knowingly fails to comply with any
     provision of this Warrant, which results in any material damages to the
     Holder, the Company shall pay to Holder such amounts as shall be sufficient
     to cover any costs and expenses including, but not limited to, reasonable
     attorneys' fees, including those of appellate proceedings, incurred by
     Holder in collecting any amounts due pursuant hereto or in otherwise
     enforcing any of its rights, powers or remedies hereunder.

          (d) Notices. Any notice, request or other document required or
     permitted to be given or delivered to the Holder by the Company shall be
     delivered in accordance with the notice provisions of the Purchase
     Agreement.

          (e) Limitation of Liability. No provision hereof, in the absence of
     any affirmative action by Holder to exercise this Warrant or purchase
     Warrant Shares, and no enumeration herein of the rights or privileges of
     Holder, shall give rise to any liability of Holder for the purchase price
     of any Common Stock or as a stockholder of the Company, whether such
     liability is asserted by the Company or by creditors of the Company.

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          (f) Remedies. Holder, in addition to being entitled to exercise all
     rights granted by law, including recovery of damages, will be entitled to
     specific performance of its rights under this Warrant. The Company agrees
     that monetary damages would not be adequate compensation for any loss
     incurred by reason of a breach by it of the provisions of this Warrant and
     hereby agrees to waive the defense in any action for specific performance
     that a remedy at law would be adequate.

          (g) Successors and Assigns. Subject to applicable securities laws,
     this Warrant and the rights and obligations evidenced hereby shall inure to
     the benefit of and be binding upon the successors of the Company and the
     successors and permitted assigns of Holder. The provisions of this Warrant
     are intended to be for the benefit of all Holders from time to time of this
     Warrant and shall be enforceable by any such Holder or holder of Warrant
     Shares.

          (h) Amendment. This Warrant may be modified or amended or the
     provisions hereof waived with the written consent of the Company and the
     Holder.

          (i) Severability. Wherever possible, each provision of this Warrant
     shall be interpreted in such manner as to be effective and valid under
     applicable law, but if any provision of this Warrant shall be prohibited by
     or invalid under applicable law, such provision shall be ineffective to the
     extent of such prohibition or invalidity, without invalidating the
     remainder of such provisions or the remaining provisions of this Warrant.

          (j) Headings. The headings used in this Warrant are for the
     convenience of reference only and shall not, for any purpose, be deemed a
     part of this Warrant.

                              ********************

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                  IN WITNESS WHEREOF, the Company has caused this Warrant to be
executed by its officer thereunto duly authorized.

Dated:  November __, 2003
                                   MATRITECH, INC.

                                  By:_________________________________________
                                        Name:
                                        Title:

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                               NOTICE OF EXERCISE

To:      Matritech, Inc.

     (1) The undersigned hereby elects to purchase ________ Warrant Shares of
Matritech, Inc. pursuant to the terms of the attached Warrant (only if exercised
in full), and tenders herewith payment of the exercise price in full, together
with all applicable transfer taxes, if any.

     (2) Payment shall take the form of (check applicable box):

          [ ] in lawful money of the United States; or

          [ ] the cancellation of such number of Warrant Shares as is necessary,
          in accordance with the formula set forth in subsection 3(d), to
          exercise this Warrant with respect to the maximum number of Warrant
          Shares purchasable pursuant to the cashless exercise procedure set
          forth in subsection 3(d).

     (3) Please issue a certificate or certificates representing said Warrant
Shares in the name of the undersigned or in such other name as is specified
below:

                  ----------------------------------------

The Warrant Shares shall be delivered to the following:

                  ----------------------------------------

                  ----------------------------------------

                  ----------------------------------------

     (4) Accredited Investor/Qualified Institutional Buyer. The undersigned is
either: (i) an "accredited investor" as defined in Rule 501(a)(1), (a)(2),
(a)(3), (a)(7) or (a)(8) under the Securities Act of 1933, as amended (the
"Securities Act") or (ii) a qualified institutional buyer as defined in Rule
144(A)(a) under the Securities Act.

                                          [PURCHASER]

                                          By: ____________________________
                                              Name:
                                              Title:

                                          Dated:  ________________________

<PAGE>

                                 ASSIGNMENT FORM

                    (To assign the foregoing warrant, execute
                   this form and supply required information.
                 Do not use this form to exercise the warrant.)

     FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby
are hereby assigned to

_______________________________________________ whose address is

__________________________________________________________________________.

___________________________________________________________________________

                                                Dated:  ______________, _______

                 Holder's Signature:       _____________________________

                 Holder's Address:         _____________________________

                                           _____________________________

Signature Guaranteed:  ___________________________________________

NOTE: The signature to this Assignment Form must correspond with the name as it
appears on the face of the Warrant, without alteration or enlargement or any
change whatsoever, and must be guaranteed by a bank or trust company. Officers
of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.TRIMAS CORPORATION
                               ------------------
                      2002 LONG TERM EQUITY INCENTIVE PLAN
                      ------------------------------------

         1.    Purposes.
               ---------

         The purposes of the 2002 Long Term Equity Incentive Plan are to advance
the interests of the Company and its shareholders by providing a means to
attract, retain, and motivate employees, consultants and directors of the
Company, its Subsidiaries and Affiliates upon whose judgment, initiative and
efforts the continued success, growth and development of the Company is
dependent.

         2.    Definitions.
               ------------

         For purposes of the Plan, the following terms shall be defined as set
forth below:

               (a)   "Affiliate" means any entity other than the Company and its
Subsidiaries that is designated by the Board or the Committee as a participating
employer under the Plan, provided that the Company directly or indirectly owns
at least 20% of the combined voting power of all classes of stock of such entity
or at least 20% of the ownership interests in such entity.

               (b)   "Award" means any Option, SAR, Restricted Share, Restricted
Share Unit, Performance Share, Performance Unit, Dividend Equivalent, or Other
Share-Based Award granted to an Eligible Person under the Plan.

               (c)   "Award Agreement" means any written agreement, contract, or
other instrument or document evidencing an Award.

               (d)   "Beneficiary" means the person, persons, trust or trusts
which have been designated by an Eligible Person in his or her most recent
written beneficiary designation filed with the Company to receive the benefits
specified under this Plan upon the death of the Eligible Person, or, if there is
no designated Beneficiary or surviving designated Beneficiary, then the person,
persons, trust or trusts entitled by will or the laws of descent and
distribution to receive such benefits.

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

               (f)   "Code" means the Internal Revenue Code of 1986, as amended
from time to time. References to any provision of the Code shall be deemed to
include successor provisions thereto and regulations thereunder.

                                      -2-

               (g)   "Committee" means the Compensation Committee of the Board,
or such other Board committee (which may include the entire Board) as may be
designated by the Board to administer the Plan.

               (h)   "Company" means TriMas Corporation, a corporation organized
under the laws of Delaware, or any successor corporation.

               (i)   "Director" means a member of the Board who is not an
employee of the Company, a Subsidiary or an Affiliate.

               (j)   "Dividend Equivalent" means a right, granted under
Section 5(g), to receive cash, Shares, or other property equal in value to
dividends paid with respect to a specified number of Shares. Dividend
Equivalents may be awarded on a free-standing basis or in connection with
another Award, and may be paid currently or on a deferred basis.

               (k)   "Eligible Person" means (i) an employee of or consultant to
the Company, a Subsidiary or an Affiliate, including any director who is an
employee, or (ii) a Director. Notwithstanding any provisions of this Plan to the
contrary, an Award may be granted to a person, in connection with his or her
hiring or retention as an employee or consultant, prior to the date the employee
or consultant first performs services for the Company, a Subsidiary or an
Affiliate, provided that any such Award shall not become exercisable or vested
prior to the date the employee or consultant first performs such services as an
employee or consultant.

               (l)   "Exchange Act" means the Securities Exchange Act of 1934,
as amended from time to time. References to any provision of the Exchange Act
shall be deemed to include successor provisions thereto and regulations
thereunder.

               (m)   "Fair Market Value" means, with respect to Shares or other
property, the fair market value of such Shares or other property determined by
such methods or procedures as shall be established from time to time by the
Committee. If the Shares are listed on any established stock exchange or a
national market system, unless otherwise determined by the Committee in good
faith, the Fair Market Value of Shares shall mean the mean between the high and
low selling prices per Share on the immediately preceding date (or, if the
Shares were not traded on that day, the next preceding day that the Shares were
traded) on the principal exchange or market system on which the Shares are
traded, as such prices are officially quoted on such exchange.

               (n)   "ISO" means any Option intended to be and designated as an
incentive stock option within the meaning of Section 422 of the Code.

                                      -3-

               (o)   "NQSO" means any Option that is not an ISO.

               (p)   "Option" means a right, granted under Section 5(b), to
purchase Shares.

               (q)   "Other Share-Based Award" means a right, granted under
Section 5(h), that relates to or is valued by reference to Shares.

               (r)   "Participant" means an Eligible Person who has been granted
an Award under the Plan.

               (s)   "Performance Share" means a performance share granted under
Section 5(f).

               (t)   "Performance Unit" means a performance unit granted under
Section 5(f).

               (u)   "Plan" means this 2002 Long Term Equity Incentive Plan.

               (v)   "Restricted Shares" means an Award of Shares under
Section 5(d) that may be subject to certain restrictions and to a risk of
forfeiture.

               (w)   "Restricted Share Unit" means a right, granted under
Section 5(e), to receive Shares or cash at the end of a specified deferral
period.

               (x)   "Rule 16b-3" means Rule 16b-3, as from time to time in
effect and applicable to the Plan and Participants, promulgated by the
Securities and Exchange Commission under Section 16 of the Exchange Act.

               (y)   "SAR" or "Share Appreciation Right" means the right,
granted under Section 5(c), to be paid an amount measured by the difference
between the exercise price of the right and the Fair Market Value of Shares on
the date of exercise of the right, with payment to be made in cash, Shares, or
property as specified in the Award or determined by the Committee.

               (z)   "Shares" means common stock, $0.01 par value per share, of
the Company.

               (aa)  "Subsidiary" means any corporation (other than the Company)
in an unbroken chain of corporations beginning with the Company if each of the
corporations (other than the last corporation in the unbroken chain) owns shares
possessing 50% or more of the total combined voting power of all classes of
stock in one of the other corporations in the chain.

                                      -4-

               3.    Administration.
                     ---------------

               (a)   Authority of the Committee. The Plan shall be administered
by the Committee, and the Committee shall have full and final authority to take
the following actions, in each case subject to and consistent with the
provisions of the Plan:

          (i)     to select Eligible Persons to whom Awards may be granted;

          (ii)    to designate Affiliates;

          (iii)   to determine the type or types of Awards to be granted to each
          Eligible Person;

          (iv)    to determine the type and number of Awards to be granted, the
          number of Shares to which an Award may relate, the terms and
          conditions of any Award granted under the Plan (including, but not
          limited to, any exercise price, grant price, or purchase price, and
          any bases for adjusting such exercise, grant or purchase price, the
          terms of any put or call rights with respect to an Award, any
          restriction or condition, any schedule for lapse of restrictions or
          conditions relating to transferability or forfeiture, exercisability,
          or settlement of an Award, and waiver or accelerations thereof, and
          waivers of performance conditions relating to an Award, based in each
          case on such considerations as the Committee shall determine), and all
          other matters to be determined in connection with an Award;

          (v)     to determine whether, to what extent, and under what
          circumstances an Award may be settled, or the exercise price of an
          Award may be paid, in cash, Shares, other Awards, or other property,
          or an Award may be canceled, forfeited, exchanged, or surrendered;

          (vi)    to determine whether, to what extent, and under what
          circumstances cash, Shares, other Awards, or other property payable
          with respect to an Award will be deferred either automatically, at the
          election of the Committee, or at the election of the Eligible Person;

          (vii)   to prescribe the form of each Award Agreement, which need not
          be identical for each Eligible Person;

          (viii)  to adopt, amend, suspend, waive, and rescind such rules and
          regulations and appoint such agents as the Committee may deem
          necessary or advisable to administer the Plan;

                                      -5-

          (ix)    to correct any defect or supply any omission or reconcile any
          inconsistency in the Plan and to construe and interpret the Plan and
          any Award, rules and regulations, Award Agreement, or other
          instrument hereunder;

          (x)     to accelerate the exercisability or vesting of all or any
          portion of any Award or to extend the period during which an Award is
          exercisable; and

          (xi)    to make all other decisions and determinations as may be
          required under the terms of the Plan or as the Committee may deem
          necessary or advisable for the administration of the Plan.

               (b)    Manner of Exercise of Committee Authority. The Committee
shall have sole discretion in exercising its authority under the Plan. Any
action of the Committee with respect to the Plan shall be final, conclusive, and
binding on all persons, including the Company, Subsidiaries, Affiliates,
Eligible Persons, any person claiming any rights under the Plan from or through
any Eligible Person, and shareholders. The express grant of any specific power
to the Committee, and the taking of any action by the Committee, shall not be
construed as limiting any power or authority of the Committee. The Committee may
delegate to other members of the Board or officers or managers of the Company or
any Subsidiary or Affiliate the authority, subject to such terms as the
Committee shall determine, to perform administrative functions and, with respect
to Awards granted to persons not subject to Section 16 of the Exchange Act, to
perform such other functions as the Committee may determine, to the extent
permitted under Rule 16b-3 (if applicable) and applicable law.

               (c)    Limitation of Liability. Each member of the Committee
shall be entitled to, in good faith, rely or act upon any report or other
information furnished to him or her by any officer or other employee of the
Company or any Subsidiary or Affiliate, the Company's independent certified
public accountants, or other professional retained by the Company to assist in
the administration of the Plan. No member of the Committee, and no officer or
employee of the Company acting on behalf of the Committee, shall be personally
liable for any action, determination, or interpretation taken or made in good
faith with respect to the Plan, and all members of the Committee and any officer
or employee of the Company acting on their behalf shall, to the extent permitted
by law, be fully indemnified and protected by the Company with respect to any
such action, determination, or interpretation.

                                      -6-

               4.     Shares Subject to the Plan.
                      ---------------------------

               (a)    Subject to adjustment as provided in Section 4(b) hereof,
the total number of Shares reserved for issuance in connection with Awards under
the Plan shall be 2,222,000. No Award may be granted if the number of Shares to
which such Award relates, when added to the number of Shares previously issued
under the Plan, exceeds the number of Shares reserved under the preceding
sentence. If any Awards are forfeited, canceled, terminated, exchanged or
surrendered or such Award is settled in cash or otherwise terminates without a
distribution of Shares to the Participant, any Shares counted against the number
of Shares reserved and available under the Plan with respect to such Award
shall, to the extent of any such forfeiture, settlement, termination,
cancellation, exchange or surrender, again be available for Awards under the
Plan. Upon the exercise of any Award granted in tandem with any other Awards,
such related Awards shall be canceled to the extent of the number of Shares as
to which the Award is exercised.

               (b)    In the event that the Committee shall determine that any
dividend in Shares, recapitalization, Share split, reverse split,
reorganization, merger, consolidation, spin-off, combination, repurchase, or
share exchange, or other similar corporate transaction or event, affects the
Shares such that an adjustment is appropriate in order to prevent dilution or
enlargement of the rights of Eligible Persons under the Plan, then the Committee
shall make such equitable changes or adjustments as it deems appropriate and, in
such manner as it may deem equitable, adjust any or all of (i) the number and
kind of shares which may thereafter be issued under the Plan, (ii) the number
and kind of shares, other securities or other consideration issued or issuable
in respect of outstanding Awards, and (iii) the exercise price, grant price, or
purchase price relating to any Award; provided, however, in each case that, with
respect to ISOs, such adjustment shall be made in accordance with Section 424(a)
of the Code, unless the Committee determines otherwise. In addition, the
Committee is authorized to make adjustments in the terms and conditions of, and
the criteria and performance objectives, if any, included in, Awards in
recognition of unusual or non-recurring events (including, without limitation,
events described in the preceding sentence) affecting the Company or any
Subsidiary or Affiliate or the financial statements of the Company or any
Subsidiary or Affiliate, or in response to changes in applicable laws,
regulations, or accounting principles.

               (c)    Any Shares distributed pursuant to an Award may consist,
in whole or in part, of authorized and unissued Shares or treasury Shares
including Shares acquired by purchase in the open market or in private
transactions.

               5.     Specific Terms of Awards.
                      -------------------------

               (a)    General. Awards may be granted on the terms and conditions
set forth in this Section 5. In addition, the Committee may impose on any Award
or the ex-

                                      -7-

ercise thereof, at the date of grant or thereafter (subject to Section 7(d)),
such additional terms and conditions, not inconsistent with the provisions of
the Plan, as the Committee shall determine, including terms regarding forfeiture
of Awards or continued exercisability of Awards in the event of termination of
service by the Eligible Person.

               (b)    Options. The Committee is authorized to grant Options,
which may be NQSOs or ISOs and which may be reload Options, to Eligible Persons
on the following terms and conditions:

          (i)     Exercise Price. The exercise price per Share purchasable under
          an Option shall be determined by the Committee, and the Committee may,
          without limitation, set an exercise price that is based upon
          achievement of performance criteria if deemed appropriate by the
          Committee.

          (ii)    Option Term.  The term of each Option shall be determined by
          the Committee.

          (iii)   Time and Method of Exercise. The Committee shall determine at
          the date of grant or thereafter the time or times at which an Option
          may be exercised in whole or in part (including, without limitation,
          upon achievement of performance criteria if deemed appropriate by the
          Committee), the methods by which such exercise price may be paid or
          deemed to be paid (including, without limitation, broker-assisted
          exercise arrangements), the form of such payment (including, without
          limitation, cash, Shares, notes or other property), and the methods by
          which Shares will be delivered or deemed to be delivered to Eligible
          Persons.

          (iv)    Early Exercise. The Committee may provide at the time of grant
          or any time thereafter, in its sole discretion, that any Option shall
          be exercisable with respect to Shares that otherwise would not then be
          exercisable, provided that, in connection with such exercise, the
          Participant enters into a form of Restricted Share agreement approved
          by the Committee.

          (v)     ISOs. The terms of any ISO granted under the Plan shall comply
          in all respects with the provisions of Section 422 of the Code,
          including but not limited to the requirement that the ISO shall be
          granted within ten years from the earlier of the date of adoption or
          shareholder approval of the Plan. ISOs may only be granted to
          employees of the Company or a Subsidiary.

               (c)    SARs. The Committee is authorized to grant SARs (Share
Appreciation Rights) to Eligible Persons on the following terms and conditions:

                                      -8-

          (i)     Right to Payment. An SAR shall confer on the Eligible Person
          to whom it is granted a right to receive with respect to each Share
          subject thereto, upon exercise thereof, the excess of (1) the Fair
          Market Value of one Share on the date of exercise (or, if the
          Committee shall so determine in the case of any such right, the Fair
          Market Value of one Share at any time during a specified period before
          or after the date of exercise) over (2) the exercise price of the SAR
          as determined by the Committee as of the date of grant of the SAR
          (which, in the case of an SAR granted in tandem with an Option, shall
          be equal to the exercise price of the underlying Option).

          (ii)    Other Terms. The Committee shall determine, at the time of
          grant or thereafter, the time or times at which an SAR may be
          exercised in whole or in part, the method of exercise, method of
          settlement, form of consideration payable in settlement, method by
          which Shares will be delivered or deemed to be delivered to Eligible
          Persons, whether or not an SAR shall be in tandem with any other
          Award, and any other terms and conditions of any SAR. Unless the
          Committee determines otherwise, an SAR (1) granted in tandem with an
          NQSO may be granted at the time of grant of the related NQSO or at any
          time thereafter and (2) granted in tandem with an ISO may only be
          granted at the time of grant of the related ISO.

               (d)    Restricted Shares. The Committee is authorized to grant
Restricted Shares to Eligible Persons on the following terms and conditions:

          (i)     Issuance and Restrictions.  Restricted Shares shall be subject
          to such restrictions on transferability and other restrictions, if
          any, as the Committee may impose at the date of grant or thereafter,
          which restrictions may lapse separately or in combination at such
          times, under such circumstances (including, without limitation, upon
          achievement of performance criteria if deemed appropriate by the
          Committee), in such installments, or otherwise, as the Committee may
          determine. Except to the extent restricted under the Award Agreement
          relating to the Restricted Shares, an Eligible Person granted
          Restricted Shares shall have all of the rights of a shareholder
          including, without limitation, the right to vote Restricted Shares and
          the right to receive dividends thereon. If the lapse of restrictions
          is conditioned on the achievement of performance criteria, the
          Committee shall select the criterion or criteria from the list of
          criteria set forth in Section 5(f)(i). The Committee must certify in
          writing prior to the lapse of restrictions conditioned on achievement
          of performance criteria that such performance criteria were in fact
          satisfied.

                                      -9-

          (ii)    Forfeiture. Except as otherwise determined by the Committee,
          at the date of grant or thereafter, upon termination of service during
          the applicable restriction period, Restricted Shares and any accrued
          but unpaid dividends or Dividend Equivalents that are at that time
          subject to restrictions shall be forfeited; provided, however, that
          the Committee may provide, by rule or regulation or in any Award
          Agreement, or may determine in any individual case, that restrictions
          or forfeiture conditions relating to Restricted Shares will be waived
          in whole or in part in the event of terminations resulting from
          specified causes, and the Committee may in other cases waive in whole
          or in part the forfeiture of Restricted Shares.

          (iii)   Certificates for Shares. Restricted Shares granted under the
          Plan may be evidenced in such manner as the Committee shall determine.
          If certificates representing Restricted Shares are registered in the
          name of the Eligible Person, such certificates shall bear an
          appropriate legend referring to the terms, conditions, and
          restrictions applicable to such Restricted Shares, and the Company
          shall retain physical possession of the certificate.

          (iv)    Dividends. Dividends paid on Restricted Shares shall be either
          paid at the dividend payment date, or deferred for payment to such
          date as determined by the Committee, in cash or in unrestricted Shares
          having a Fair Market Value equal to the amount of such dividends.
          Shares distributed in connection with a Share split or dividend in
          Shares, and other property distributed as a dividend, shall be subject
          to restrictions and a risk of forfeiture to the same extent as the
          Restricted Shares with respect to which such Shares or other property
          has been distributed.

          (v)     Early Exercise Options. The Committee shall award Restricted
          Shares to a Participant upon the Participant's early exercise of an
          Option under Section 5(b)(iv) hereof. Unless otherwise determined by
          the Committee, the lapse of restrictions with respect to such
          Restricted Shares shall occur on the same schedule as the vesting of
          the Option for which the Restricted Shares were exercised.

               (e)    Restricted Share Units.  The Committee is authorized to
grant Restricted Share Units to Eligible Persons, subject to the following terms
and conditions:

          (i)     Award and Restrictions.  Delivery of Shares or cash, as the
          case may be, will occur upon expiration of the deferral period
          specified for Restricted Share Units by the Committee (or, if
          permitted by the Committee, as elected by the Eligible Person). In
          addition, Restricted Share Units shall be subject to such restrictions
          as the Committee may impose, if any (includ-

                                      -10-

          ing, without limitation, the achievement of performance criteria if
          deemed appropriate by the Committee), at the date of grant or
          thereafter, which restrictions may lapse at the expiration of the
          deferral period or at earlier or later specified times, separately or
          in combination, in installments or otherwise, as the Committee may
          determine. If the lapse of restrictions is conditioned on the
          achievement of performance criteria, the Committee shall select the
          criterion or criteria from the list of criteria set forth in Section
          5(f)(i). The Committee must certify in writing prior to the lapse of
          restrictions conditioned on the achievement of performance criteria
          that such performance criteria were in fact satisfied.

          (ii)   Forfeiture.  Except as otherwise determined by the Committee a
          t date of grant or thereafter, upon termination of service (as
          determined under criteria established by the Committee) during the
          applicable deferral period or portion thereof to which forfeiture
          conditions apply (as provided in the Award Agreement evidencing the
          Restricted Share Units), or upon failure to satisfy any other
          conditions precedent to the delivery of Shares or cash to which such
          Restricted Share Units relate, all Restricted Share Units that are at
          that time subject to deferral or restriction shall be forfeited;
          provided, however, that the Committee may provide, by rule or
          regulation or in any Award Agreement, or may determine in any
          individual case, that restrictions or forfeiture conditions relating
          to Restricted Share Units will be waived in whole or in part in the
          event of termination resulting from specified causes, and the
          Committee may in other cases waive in whole or in part the forfeiture
          of Restricted Share Units.

               (f)    Performance Shares and Performance Units.  The Committee
is authorized to grant Performance Shares or Performance Units or both to
Eligible Persons on the following terms and conditions:

          (i)     Performance Period.  The Committee shall determine a
          performance period (the "Performance Period") of one or more years and
          shall determine the performance objectives for grants of Performance
          Shares and Performance Units. Performance objectives may vary from
          Eligible Person to Eligible Person and shall be based upon one or more
          of the following performance criteria as the Committee may deem
          appropriate: appreciation in value of the Shares; total shareholder
          return; earnings per share; operating income; net income; pro forma
          net income; return on equity; return on designated assets; return on
          capital; economic value added; earnings; earnings before interest,
          taxes, depreciation and amortization revenues; expenses; operating
          profit margin; operating cash flow; and net profit margin.

                                      -11-

          The performance objectives may be determined by reference to the
          performance of the Company, or of a Subsidiary or Affiliate, or of a
          division or unit of any of the foregoing. Performance Periods may
          overlap and Eligible Persons may participate simultaneously with
          respect to Performance Shares and Performance Units for which
          different Performance Periods are prescribed.

          (ii)    Award Value. At the beginning of a Performance Period, the
          Committee shall determine for each Eligible Person or group of
          Eligible Persons with respect to that Performance Period the range of
          number of Shares, if any, in the case of Performance Shares, and the
          range of dollar values, if any, in the case of Performance Units,
          which may be fixed or may vary in accordance with such performance or
          other criteria specified by the Committee, which shall be paid to an
          Eligible Person as an Award if the relevant measure of Company
          performance for the Performance Period is met. The Committee must
          certify in writing that the applicable performance criteria were
          satisfied prior to payment under any Performance Shares or Performance
          Units.

          (iii)   Significant Events. If during the course of a Performance
          Period there shall occur significant events as determined by the
          Committee which the Committee expects to have a substantial effect on
          a performance objective during such period, the Committee may revise
          such objective.

          (iv)    Forfeiture. Except as otherwise determined by the Committee,
          at the date of grant or thereafter, upon termination of service during
          the applicable Performance Period, Performance Shares and Performance
          Units for which the Performance Period was prescribed shall be
          forfeited; provided, however, that the Committee may provide, by rule
          or regulation or in any Award Agreement, or may determine in an
          individual case, that restrictions or forfeiture conditions relating
          to Performance Shares and Performance Units will be waived in whole or
          in part in the event of terminations resulting from specified causes,
          and the Committee may in other cases waive in whole or in part the
          forfeiture of Performance Shares and Performance Units.

          (v)     Payment. Each Performance Share or Performance Unit may be
          paid in whole Shares, or cash, or a combination of Shares and cash
          either as a lump sum payment or in installments, all as the Committee
          shall determine, at the time of grant of the Performance Share or
          Performance Unit or otherwise, commencing as soon as practicable after
          the end of the relevant Performance Period. The Committee must certify
          in writing prior to the

                                      -12-

          payment of any Performance Share or Performance Unit that the
          performance objectives and any other material terms were in fact
          satisfied.

               (g)    Dividend Equivalents. The Committee is authorized to grant
Dividend Equivalents to Eligible Persons. The Committee may provide, at the date
of grant or thereafter, that Dividend Equivalents shall be paid or distributed
when accrued or shall be deemed to have been reinvested in additional Shares, or
other investment vehicles as the Committee may specify, provided that Dividend
Equivalents (other than freestanding Dividend Equivalents) shall be subject to
all conditions and restrictions of the underlying Awards to which they relate.

               (h)    Other Share-Based Awards. The Committee is authorized,
subject to limitations under applicable law, to grant to Eligible Persons such
other Awards that may be denominated or payable in, valued in whole or in part
by reference to, or otherwise based on, or related to, Shares, as deemed by the
Committee to be consistent with the purposes of the Plan, including, without
limitation, unrestricted shares awarded purely as a "bonus" and not subject to
any restrictions or conditions, other rights convertible or exchangeable into
Shares, purchase rights for Shares, Awards with value and payment contingent
upon performance of the Company or any other factors designated by the
Committee, and Awards valued by reference to the performance of specified
Subsidiaries or Affiliates. The Committee shall determine the terms and
conditions of such Awards at date of grant or thereafter. Shares delivered
pursuant to an Award in the nature of a purchase right granted under this
Section 5(h) shall be purchased for such consideration, paid for at such times,
by such methods, and in such forms, including, without limitation, cash, Shares,
notes or other property, as the Committee shall determine. Cash awards, as an
element of or supplement to any other Award under the Plan, shall also be
authorized pursuant to this Section 5(h).

               6.     Certain Provisions Applicable to Awards.
                      ----------------------------------------

               (a)    Stand-Alone, Additional, Tandem and Substitute Awards.
Awards granted under the Plan may, in the discretion of the Committee, be
granted to Eligible Persons either alone or in addition to, in tandem with, or
in exchange or substitution for, any other Award granted under the Plan or any
award granted under any other plan or agreement of the Company, any Subsidiary
or Affiliate, or any business entity to be acquired by the Company or a
Subsidiary or Affiliate, or any other right of an Eligible Person to receive
payment from the Company or any Subsidiary or Affiliate. Awards may be granted
in addition to or in tandem with such other Awards or awards, and may be granted
either as of the same time as or a different time from the grant of such other
Awards or awards. The per Share exercise price of any Option, grant price of any
SAR, or purchase price of any other Award conferring a right to purchase Shares
which is granted, in connection with the substitution of awards granted under
any other plan or

                                      -13-

agreement of the Company or any Subsidiary or Affiliate or any business entity
to be acquired by the Company or any Subsidiary or Affiliate, shall be
determined by the Committee, in its discretion.

               (b)    Terms of Awards. The term of each Award granted to an
Eligible Person shall be for such period as may be determined by the Committee;
provided, however, that in no event shall the term of any ISO or an SAR granted
in tandem therewith exceed a period of ten years from the date of its grant (or
such shorter period as may be applicable under Section 422 of the Code).

               (c)    Form of Payment Under Awards. Subject to the terms of the
Plan and any applicable Award Agreement, payments to be made by the Company or a
Subsidiary or Affiliate upon the grant, maturation, or exercise of an Award may
be made in such forms as the Committee shall determine at the date of grant or
thereafter, including, without limitation, cash, Shares, notes or other
property, and may be made in a single payment or transfer, in installments, or
on a deferred basis. The Committee may make rules relating to installment or
deferred payments with respect to Awards, including the rate of interest to be
credited with respect to such payments.

               (d)    Nontransferability. Unless otherwise set forth by the
Committee in an Award Agreement, Awards shall not be transferable by an Eligible
Person except by will or the laws of descent and distribution (except pursuant
to a Beneficiary designation) and shall be exercisable during the lifetime of an
Eligible Person only by such Eligible Person or his guardian or legal
representative. An Eligible Person's rights under the Plan may not be pledged,
mortgaged, hypothecated, or otherwise encumbered, and shall not be subject to
claims of the Eligible Person's creditors.

               (e)    Noncompetition; Nonsolicitation. The Committee may, by way
of the Award Agreements or otherwise, establish such other terms, conditions,
restrictions and/or limitations, if any, on any Award, provided they are not
inconsistent with the Plan, including, without limitation, the requirement that
the Participant not, directly or indirectly, engage in competition with, or
solicit or cause to be solicited employees or customers of, the Company or any
Subsidiary or Affiliate.

               7.     General Provisions.
                      -------------------

               (a)    Compliance with Legal and Trading Requirements. The Plan,
the granting and exercising of Awards thereunder, and the other obligations of
the Company under the Plan and any Award Agreement, shall be subject to all
applicable federal and state laws, rules and regulations, and to such approvals
by any regulatory or governmental agency as may be required. The Company, in its
discretion, may postpone the issuance or delivery of Shares under any Award
until completion of such stock exchange or market

                                      -14-

system listing or registration or qualification of such Shares or other required
action under any state or federal law, rule or regulation as the Company may
consider appropriate, and may require any Participant to make such
representations and furnish such information as it may consider appropriate in
connection with the issuance or delivery of Shares in compliance with applicable
laws, rules and regulations. No provisions of the Plan shall be interpreted or
construed to obligate the Company to register any Shares under federal or state
law. The Shares issued under the Plan may be subject to such other restrictions
on transfer as determined by the Committee.

               (b)    No Right to Continued Employment or Service. Neither the
Plan nor any action taken thereunder shall be construed as giving any employee,
consultant or director the right to be retained in the employ or service of the
Company or any of its Subsidiaries or Affiliates, nor shall it interfere in any
way with the right of the Company or any of its Subsidiaries or Affiliates to
terminate any employee's, consultant's or director's employment or service at
any time.

               (c)    Taxes. The Company or any Subsidiary or Affiliate is
authorized to withhold from any Award granted, any payment relating to an Award
under the Plan, including from a distribution of Shares, or any payroll or other
payment to an Eligible Person, amounts of withholding and other taxes due in
connection with any transaction involving an Award, and to take such other
action as the Committee may deem advisable to enable the Company and Eligible
Persons to satisfy obligations for the payment of withholding taxes and other
tax obligations relating to any Award. This authority shall include authority to
withhold or receive Shares or other property and to make cash payments in
respect thereof in satisfaction of an Eligible Person's tax obligations.

               (d)    Changes to the Plan and Awards. The Board may amend,
alter, suspend, discontinue, or terminate the Plan or the Committee's authority
to grant Awards under the Plan without the consent of shareholders of the
Company or Participants, except that any such amendment or alteration as it
applies to ISOs shall be subject to the approval of the Company's shareholders
to the extent such shareholder approval is required under Section 422 of the
Code; provided, however, that, without the consent of an affected Participant,
no amendment, alteration, suspension, discontinuation, or termination of the
Plan may materially and adversely affect the rights of such Participant under
any Award theretofore granted to him or her. The Committee may waive any
conditions or rights under, amend any terms of, or amend, alter, suspend,
discontinue or terminate, any Award theretofore granted, prospectively or
retrospectively; provided, however, that, without the consent of a Participant,
no amendment, alteration, suspension, discontinuation or termination of any
Award may materially and adversely affect the rights of such Participant under
any Award theretofore granted to him or her.

                                      -15-

               (e)    No Rights to Awards; No Shareholder Rights. No Eligible
Person or employee shall have any claim to be granted any Award under the Plan,
and there is no obligation for uniformity of treatment of Eligible Persons and
employees. No Award shall confer on any Eligible Person any of the rights of a
shareholder of the Company unless and until Shares are duly issued or
transferred to the Eligible Person in accordance with the terms of the Award.

               (f)    Unfunded Status of Awards. The Plan is intended to
constitute an "unfunded" plan for incentive compensation. With respect to any
payments not yet made to a Participant pursuant to an Award, nothing contained
in the Plan or any Award shall give any such Participant any rights that are
greater than those of a general creditor of the Company; provided, however, that
the Committee may authorize the creation of trusts or make other arrangements to
meet the Company's obligations under the Plan to deliver cash, Shares, other
Awards, or other property pursuant to any Award, which trusts or other
arrangements shall be consistent with the "unfunded" status of the Plan unless
the Committee otherwise determines with the consent of each affected
Participant.

               (g)    Nonexclusivity of the Plan. Neither the adoption of the
Plan by the Board nor its submission to the shareholders of the Company for
approval shall be construed as creating any limitations on the power of the
Board to adopt such other incentive arrangements as it may deem desirable,
including, without limitation, the granting of options and other awards
otherwise than under the Plan, and such arrangements may be either applicable
generally or only in specific cases.

               (h)    Not Compensation for Benefit Plans. No Award payable under
this Plan shall be deemed salary or compensation for the purpose of computing
benefits under any benefit plan or other arrangement of the Company for the
benefit of its employees, consultants or directors unless the Company shall
determine otherwise.

               (i)    No Fractional Shares. No fractional Shares shall be issued
or delivered pursuant to the Plan or any Award. The Committee shall determine
whether cash, other Awards, or other property shall be issued or paid in lieu of
such fractional Shares or whether such fractional Shares or any rights thereto
shall be forfeited or otherwise eliminated.

               (j)    Governing Law. The validity, construction, and effect of
the Plan, any rules and regulations relating to the Plan, and any Award
Agreement shall be determined in accordance with the laws of Delaware without
giving effect to principles of conflict of laws thereof.

               (k)    Effective Date; Plan Termination. The Plan shall become
effective as of June 6, 2002 (the "Effective Date"). The Plan shall terminate as
to future awards on

                                      -16-

the date which is ten (10) years after the Effective Date. Termination of the
Plan shall not affect Awards granted prior to such termination.

               (l)    Titles and Headings. The titles and headings of the
sections in the Plan are for convenience of reference only. In the event of any
conflict, the text of the Plan, rather than such titles or headings, shall
control.

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