Document:

SPECIMEN STOCK CERTIFICATE

NUMBER                                                              SHARES
PI

                      PAN-INTERNATIONAL HOLDINGS, INC.

            INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE
                                                               SEE REVERSE FOR
                                                           CERTAIN DEFINITIONS

                COMMON STOCK                                 CUSIP  698072 10 5

THIS CERTIFIES THAT:

is owner of

FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF $.01 PAR VALUE EACH OF
                       PAN-INTERNATIONAL HOLDINGS, INC
transferable  on the books of the  Corporation  in person  or by  attorney  upon
surrender of this  certificate  duly endorsed or assigned.  This certificate and
the shares  represented hereby are subject to the laws of the State of Delaware,
and to the Certificate of Incorporation and Bylaws of the Corporation, as now or
hereafter  amended.  This  certificate is not valid until  countersigned  by the
Transfer Agent.

    WITNESS the facsimile seal of the Corporation  and the facsimile  signatures
of its duly authorized officers.

DATED:                                                            COUNTERSIGNED:
                                      CONTINENTAL STOCK TRANSFER & TRUST COMPANY
                                                                 JERSEY CITY, NJ
                                                                  TRANSFER AGENT
                                                    BY:

                                                              AUTHORIZED OFFICER

SECRETARY                                                              PRESIDENT

<PAGE>

         The following  abbreviations,  when used in the inscription on the face
of this certificate,  shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM -  as tenants in common             UNIF GIFT MIN ACT -. ...............
TEN ENT-   as tenants by the entireties          Custodian ....................
JT TEN -   as joint tenants with right of            (Cust)             (Minor)
           survivorship and not as tenants   under Uniform Gifts to Minors
           in common                         Act ...................
                                                       (State)

   Additional abbreviations may also be used though not in the above list.

 For Value Received, _________________hereby sell, assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
------------------------------------

------------------------------------------------------------------------------
                    (PLEASE PRINT OR TYPEWRITE NAME AND
                  ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)

_____________________________________________________________________  Shares of
the stock  represented  by the  within  Certificate,  and do hereby  Irrevocably
constitute                              and                              appoint
__________________________________________________________________  Attorney  to
transfer the said stock on the books of the within named  Corporation  with full
power of substitution in the premises.

Dated_______________________________

NOTICE:  THE  SIGNATURE  TO THIS  ASSIGNMENT  MUST  CORRESPOND  WITH THE NAME AS
WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION
OR ENLARGEMENT OR ANY CHANGE WHATSOEVER.

THE  CORPORATION  WILL  FURNISH TO ANY  STOCKHOLDER,  UPON  REQUEST  AND WITHOUT
CHARGE, A FULL STATEMENT OF THE DESIGNATIONS,  RELATIVE RIGHTS,  PREFERENCES AND
LIMITATIONS OF THE SHARES OF EACH CLASS AND SERIES  AUTHORIZED TO BE ISSUED,  SO
FAR AS THE SAME HAVE BEEN DETERMINED, AND OF THE AUTHORITY, IF ANY, OF THE BOARD
TO DIVIDE THE SHARES  INTO  CLASSES  OR SERIES AND TO  DETERMINE  AND CHANGE THE
RELATIVE  RIGHTS,  PREFERENCES  AND  LIMITATIONS  OF ANY CLASS OR  SERIES.  SUCH
REQUEST MAY BE MADE TO THE SECRETARY OF THE CORPORATION OR TO THE TRANSFER AGENT
NAMED ON THIS CERTIFICATE.

THE SIGNATURE TO THE ASSIGNMENT  MUST CORRESPOND TO THE NAME AS WRITTEN UPON THE
FACE OF THIS CERTIFICATE IN EVERY PARTICULAR,  WITHOUT ALTERATION OR ENLARGEMENT
OR ANY CHANGE  WHATSOEVER,  AND MUST BE GUARANTEED BY A COMMERCIAL BANK OR TRUST
COMPANY OR A MEMBER FIRM OF A NATIONAL OR  REGIONAL  OR OTHER  RECOGNIZED  STOCK
EXCHANGE IN CONFORMANCE WITH A SIGNATURE GUARANTEE MEDALLION PROGRAM.PAN-INTERNATIONAL HOLDINGS, INC.

                   YEAR 2000 CONSULTANT COMPENSATION PLAN

1.       Purpose

         The Year 2000 Consultant  Compensation Plan (the "Plan") is intended to
promote the interests of Pan-International  Holdings,  Inc. and its subsidiaries
(collectively the  "Corporation")  by offering those outside  consultants of the
Corporation  who assist in the  development  and success of the  business of the
Corporation,  the opportunity to participate in a compensation  plan designed to
reward  them for their  services  and to  encourage  them to continue to provide
services to the Corporation.

2.       Definitions

         For all  purposes  of this Plan,  the  following  terms  shall have the
following meanings:

         "Common Stock" means Pan-International Holdings, Inc. common stock,
                $.01 par value.

         "Conditional  Shares"  means  shares of Common  Stock issued under this
                Plan.

         "PIHI" means Pan-International Holdings, Inc., a Delaware corporation.

         "Subsidiary"  means  any  company  of  which  PIHI  owns,  directly  or
                indirectly, the majority of the combined voting power of all
                classes of stock.

3.       Administration

         The Plan shall be administered by a committee (the  "Committee") of not
less than two  directors  of PIHI  selected  by, and serving at the pleasure of,
PIHI's Board of Directors (the "PIHI Board").

         PIHI or any Subsidiary will recommend to the Committee  persons to whom
awards may be granted. The Committee then shall make recommendations to the PIHI
Board  with   respect  to  the   persons  to  whom   awards   shall  be  granted
("Participants") as to the number of shares that shall be covered by each award,
the time or times at which  awards  shall be granted,  the timing of when awards
shall vest,  and the terms and  provisions  of the  instruments  by which awards
shall be  evidenced,  and to  interpret  the  Plan  and make all  determinations
necessary or  advisable  for its  administration.  The PIHI Board shall make all
final decisions  concerning  awards granted to Participants  under the Plan, the
interpretation thereof, and determinations concerning its administration.

4.       Eligibility

         Only individuals who are outside consultants,  or directors,  officers,
partners or employees of outside consultants, of PIHI or any Subsidiary shall be
granted awards.

5.       Stock Subject to the Plan

         The stock  from which  awards may be granted  shall be shares of Common
Stock. When Conditional Shares are issued,  PIHI may either issue authorized but
unissued  Common  Stock or PIHI may  transfer  issued  Common  Stock held in its
treasury. Each of the respective boards of PIHI and all Subsidiaries involved in
the award will fund the Plan to the extent so required to provide  Common  Stock
for the  benefit of  Participants.  The total  number of shares of Common  Stock
which may be granted as Conditional  Shares shall not exceed,  in the aggregate,
5,000,000  shares in total.  Any Conditional  Shares awarded and later forfeited
are again subject to award under the Plan.

6.       Conditional Share Awards

         6.1      Grant of Conditional Share Awards

                  The PIHI Board,  based on the recommendation of the Committee,
will determine for each  Participant the time or times when  Conditional  Shares
shall be awarded and the number of shares of Common  Stock to be covered by each
Conditional Share award. No Conditional  Shares shall be awarded unless PIHI (in
the judgement of the directors of PIHI) has received from the Participant either
(a) a full  performance  of the  services for which the  Conditional  Shares are
being  awarded,  or (b) (i) a partial  performance of the services for which the
Conditional  Shares are being awarded and the value of such partial  performance
(in the  judgement of the directors of PIHI) equals or exceeds the aggregate par
value of the Conditional Shares to be awarded and (ii) a binding obligation from
the Participant to provide in the future the remainder of the services for which
the Conditional Shares are being awarded.

         6.2      Conditions

                  Shares  of  Conditional  Stock  issued to a  Participant  as a
Conditional  Share  award will be subject to the  following  conditions  ("Share
Conditions"):

         (a) Except as set forth in Paragraphs 6.4 and 6.5, if Share  Conditions
are not satisfied, Conditional Shares will be forfeited and returned to PIHI or,
in the event such  Conditional  Shares  were  provided to the  Participant  from
shares of Common Stock purchased by the Subsidiary,  then the Conditional Shares
will  be  returned  to  the  Subsidiary.  In  either  case,  all  rights  of the
Participant to such  Conditional  Shares will  terminate  without any payment of
consideration   by  PIHI  or  the  Subsidiary  with  which  the  Participant  is
associated,  unless the  Participant  maintains his  association  with PIHI or a
Subsidiary for a period of time determined by the Committee.

         (b) During the  condition  period  ("Condition  Period")  relating to a
Conditional  Share award,  none of the Conditional  Shares subject to such award
may  be  sold,  assigned,  bequeathed,  transferred,  pledged,  hypothecated  or
otherwise disposed of in any way by the Participant.

         (c) The Committee may require the  Participant  to enter into an escrow
agreement providing that the certificates  representing  Conditional Shares sold
or granted  pursuant to the Plan will remain in the physical  custody of PIHI or
the applicable Subsidiary or an escrow holder during the Condition Period.

         (d)  Certificates  representing  Conditional  Shares  sold  or  granted
pursuant to the Plan may bear a legend  making an  appropriate  reference to the
conditions imposed on the Conditional Shares.

         (e) The Committee may impose other conditions on any Conditional Shares
issued  pursuant  to  the  Plan  as it may  deem  advisable,  including  without
limitations,  restrictions  under the Securities Act of 1933, as amended,  under
the  requirements  of any stock  exchange upon which such share or shares of the
same  class  are then  listed  and  under  any  state  securities  laws or other
securities laws applicable to such shares.

         6.3      Rights of a Stockholder

                  Except as set forth in Paragraph  6.2(b),  the  recipient of a
Conditional  Share  award will have all of the rights of a  stockholder  of PIHI
with  respect  to the  Conditional  Shares,  including  the  right  to vote  the
Conditional Shares and to receive all dividends or other distributions made with
respect to the Conditional Shares.

         6.4      Lapse of Conditions

                  In  the  event  of  the   termination   of  association  of  a
Participant  during  the  Condition  Period by reason of death,  disability,  or
termination of association, the PIHI Board may, at its discretion,  remove Share
Conditions  on  Conditional  Shares.  Conditional  Shares  to  which  the  Share
Conditions  have not so lapsed will be forfeited and returned to the Corporation
as provided in Paragraph 6.2(a).

         6.5      Lapse of Conditions at Discretion of the PIHI Board

                  The PIHI Board may shorten the Condition  Period or remove any
or all Share  Conditions  if, in the  exercise of its  absolute  discretion,  it
determines  that such action is in the best  interests  of the  Corporation  and
equitable to the Participant.

         6.6      Listing and Registration of Shares

                  PIHI may, in its reasonable discretion,  postpone the issuance
and/or  delivery  of  Conditional  Shares  until  completion  of stock  exchange
listing,  or registration,  or other  qualification  of such Conditional  Shares
under any law, rule or regulation.

         6.7      Designation of Beneficiary

                  A  Participant   may,  with  the  consent  of  the  Committee,
designate a person or persons to receive, in the event of death, any Conditional
Shares to which such Participant  would then be entitled.  Such designation will
be made upon forms supplied by and delivered to the Committee and may be revoked
in writing by the Participant. If a Participant fails effectively to designate a
beneficiary,   then  such  Participant's   estate  will  be  deemed  to  be  the
beneficiary.

7.       Capital Adjustments

         The number and  consideration  of Common Stock covered by each award of
Conditional  Shares and the total  number of shares  that may be granted or sold
under the Plan  shall be  proportionally  adjusted  to  reflect,  subject to any
required action by stockholders,  any stock dividend or split, recapitalization,
merger,  consolidation,  spin-off,  reorganization,  combination  or exchange of
shares or other similar corporate change.

8.       Change of Control

         Notwithstanding  the  provisions of Section 7, in the event of a change
of control,  all Share  Conditions  on all  Conditional  Shares will lapse.  For
purposes  of this plan,  a "Change of  Control"  of PIHI shall be deemed to have
occurred at such time as (a) any "person" (as that term is used in Section 13(d)
and 14(d) of the  Securities  Exchange  Act of 1934),  becomes  the  "beneficial
owner"  (as  defined  in Rule  13d-3  under  the  foregoing  act),  directly  or
indirectly,  of  securities  of PIHI  representing  30% or more of the  combined
voting power of PIHI's  outstanding  securities  ordinarily  having the right to
vote at the election of directors;  or (b)  individuals who constitute the Board
of Directors of PIHI on the date hereof (the  "Incumbent  Board")  cease for any
reasons to  constitute  at least a majority  thereof,  provided  that any person
becoming a director subsequent to the date hereof whose election was approved by
at least a majority of the directors  comprising the Incumbent  Board,  or whose
nomination  or election  was approved by a majority of the Board of Directors of
PIHI  serving  under an Incumbent  Board,  shall be, for purposes of this clause
(b),  considered  as if he or she were a member of the Incumbent  Board;  or (c)
merger,  consolidation  or sale of all or  substantially  all the assets of PIHI
occurs,  unless  such  merger or  consolidation  shall  have been  affirmatively
recommended to PIHI's  stockholders by a majority of the Incumbent Board; or (d)
a proxy statement soliciting proxies from stockholders of PIHI, by someone other
than the current  management of PIHI seeking  stockholder  approval of a plan of
reorganization, merger or consolidation of PIHI with one or more corporations as
a result of which the  outstanding  shares of  PIHI's  securities  are  actually
exchanged  for or converted  into cash or property or  securities  not issued by
PIHI  unless  the  reorganization,  merger  or  consolidation  shall  have  been
affirmatively  recommended to PIHI's stockholders by a majority of the Incumbent
Board.

9.       Approvals

         The issuance of shares  pursuant to this Plan is expressly  conditioned
upon obtaining all necessary  approvals from all regulatory  agencies from which
approval is required.

10.      Effective Date of Plan

         The effective date of the Plan is August 31, 2000.

11.      Term and Amendment of Plan

         This Plan shall expire on August 31, 2010 (except to Conditional Shares
outstanding  on that date).  PIHI Board may  terminate  or amend the Plan in any
respect at any time, except no action of the PIHI Board or PIHI's  stockholders,
however,  may,  without the consent of a Conditional  Shares  grantee,  alter or
impair  such  Participant's  rights  under  any  Conditional  Shares  previously
granted.

12.      No Right of Association

         Neither the action of PIHI in  establishing  this Plan,  nor any action
taken by any board of PIHI or any Subsidiary or the Committee, nor any provision
of the Plan itself,  shall be construed to limit in any way the right of PIHI to
terminate a Participant's association with the Corporation at any time.

13.      Withholding Taxes

         PIHI or any Subsidiary,  as applicable,  shall have the right to deduct
withholding  taxes from any payments  made  pursuant to the Plan or to make such
other provisions as it deems necessary or appropriate to satisfy its obligations
to withhold federal,  state or local income or other taxes incurred by reason of
payment or the issuance of Common Stock under the Plan. Whenever under the Plan,
Common Stock is to be delivered  upon vesting of  Conditional  Shares,  the PIHI
Board  shall  be  entitled  to  require  as a  condition  of  delivery  that the
Participant  remit or provide for the  withholding  of an amount  sufficient  to
satisfy all federal,  state and other  government  withholding tax  requirements
related thereto.

14.      Plan not a Trust

         Nothing  contained in the Plan and no action taken pursuant to the Plan
shall  create or be  construed  to create a trust of any  kind,  or a  fiduciary
relationship,  between  the  Corporation  and  any  Participant,  the  executor,
administrator  or other personal  representative,  or designated  beneficiary of
such  Participant,  or  any  other  persons.  If  and to  the  extent  that  any
Participant  or such  Participant's  executor,  administrator  or other personal
representative, as the case may be, acquires a right to receive any payment from
the  Corporation  pursuant to the Plan,  such right shall be no greater than the
right of an unsecured general creditor of the Corporation.

15.      Notices

         Each Participant shall be responsible for furnishing the Committee with
the current and proper address for the mailing of notices and delivery of Common
Stock pursuant to the Plan. Any notices  required or permitted to be given shall
be deemed given if addressed to the person to be notified at such address  given
to the  Committee  by such  person  and mailed by regular  United  States  mail,
first-class  and  prepaid.  If any item  mailed to such  address is  returned as
undeliverable to the addressee,  mailing will be suspended until the Participant
furnishes the proper address. This provision shall not be construed as requiring
the mailing of any notice or  notification  if such notice is not required under
the terms of the Plan or any applicable law.

16.      Severability of Provisions

         If any provisions of this Plan shall be held invalid or  unenforceable,
such  invalidity  or  unenforceability  shall not  affect  any other  provisions
hereof,  and this Plan shall be construed and enforced as if such provisions had
not been included.

17.      Payment to Minors, etc.

         Any benefit  payable to or for the benefit of a minor,  an  incompetent
person or other person  incapable of  receipting  therefor  shall be deemed paid
when  paid to such  person's  guardian  or the  party  providing  or  reasonably
appearing to provide for the care of such person,  and such payment  shall fully
discharge the Committee,  the PIHI Board, the Corporation and other parties with
respect thereto.

18.      Headings and Captions

         The  headings  and  captions  herein are  provided  for  reference  and
convenience  only,  shall not be considered  part of the Plan,  and shall not be
employed in the construction of the Plan.

19.      Controlling Law

         This Plan shall be construed and enforced  according to the laws of the
State of Florida  to the  extent not  preempted  by  federal  law,  which  shall
otherwise control.

20.      Enforcement of Rights

         In the event the  Corporation or a Participant is required to bring any
action  to  enforce  the  terms of this  Plan,  the  prevailing  party  shall be
reimbursed by the non-prevailing  party for all costs and fees, including actual
attorney fees, for bringing and pursuing such action.

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