Document:

Exhibit 10.31

     

    Exhibit
      10.31

    SCBT
      FINANCIAL CORPORATION

    STOCK
      OPTION AGREEMENT

     

    THIS
      AGREEMENT,
      made
      this ______ day of _______________, 200__, by and between SCBT
      Financial Corporation
      (“Corporation”), a South Carolina corporation with its principal offices located
      in Columbia, South Carolina, and ______________________________
      (“Participant”).

     

    WITNESSETH:

     

    WHEREAS,
      the
      Corporation has adopted the 2004 SCBT Financial Corporation Stock Incentive
      Plan
      (the “Plan”); and

     

    WHEREAS,
      the
      Committee under the Plan has determined that the Participant shall be granted
      certain options under the Plan as an incentive to continue his or her
      performance as an employee of the Corporation and/or its
      subsidiaries.

     

    NOW,
      THEREFORE,
      in
      consideration of the foregoing and other good and valuable consideration, the
      receipt of which is hereby acknowledged, the parties hereto agree as
      follows:

     

    1.  Grant
      of Option.
      The
      Corporation hereby grants to the Participant an option (“Option”) to purchase
      _____________ shares of the Common Stock of the Corporation, upon the terms
      and
      conditions set forth below and in the Plan. The date of such grant is
      _________________. The Option shall be [an
      Incentive/a Non-Qualified]
      Stock
      Option.

     

    2.  Option
      Price.
      The
      Option shall be exercisable at a price of _________________ ($__________) per
      share.

     

    3.  Terms
      of Purchase.
      Purchase
      of any shares pursuant to the Participant’s exercise of the Option shall be made
      in accordance with the provisions of the Plan.

     

    4.  Period
      of Option.
      The
      Option shall be exercisable over the period described below.

     

    5.  Vesting
      and Expiration.
      

     

    (a)  Annual
      Vesting.
      Subject
      to Section 5(c) of this Agreement, the Option shall be exercisable in accordance
      with the limitations set forth below, unless an earlier expiration date shall
      be
      stated in the Option:

     

    (i)  The
      Option
      granted shall not be exercisable in whole or in part prior to one (1) year
      from
      the date of grant of the Option; and

     

    (ii)  A
      maximum
      of twenty-five percent (25%) of the Option shall become exercisable one (1)
      year
      following the date of grant of the Option; and

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    (iii)  A
      maximum
      of fifty percent (50%) of the Option shall become exercisable two (2) years
      following the date of grant of the Option; and

     

    (iv)  A
      maximum
      of seventy-five percent (75%) of the Option shall become exercisable three
      (3)
      years following the date of grant of the Option; and

     

    (v)  One
      hundred percent (100%) of the Option shall become exercisable four (4) years
      following the date of grant of the Option.

     

    (b)  Latest
      Date of Exercise.
      The
      Option shall expire, and in no event shall any shares be available for purchase
      hereunder, upon the earlier of (i) ten (10) years from the date of grant of
      the Option, and (ii) (1) in the event of the Participant’s termination
      of employment with the Corporation and its subsidiaries for any reason other
      than death or disability, upon the expiration of three (3) months from the
      date
      of such termination, (2) in the event of the Participant’s termination of
      employment by reason of his disability, upon the expiration of one (1) year
      from
      the date of such termination; or (3) in the event of the Participant’s
      termination of employment by reason of his death, upon the expiration of two
      (2)
      years from the date of death. For purposes of the foregoing, the Participant
      shall be deemed to be disabled if he is disabled as contemplated by Section
      422(c)(6) of the Internal Revenue Code of 1986, as amended (or any successor
      statute).

     

    (c)  Acceleration
      of Earliest Date of Exercise.
      The
      Option shall become exercisable immediately prior to a Change of Control, as
      that term is defined in the Plan.

     

    (d)  Prior
      Outstanding Options.
      This
      Option is exercisable despite the existence of any other option which was
      granted to the Participant, before the granting of this Option, and which
      earlier option is for the purchase of shares in the Corporation.

     

    6.  Nontransferability.
      The
      Option is not transferable by the Participant, in whole or in part, to any
      person, except by Will or by any applicable law of descent and distribution.
      The
      Option shall not be exercisable, in whole or in part, during the lifetime of
      the
      Participant by any person other than the Participant.

     

    7.  Construction.
      This
      Agreement shall be construed in accordance with the laws of the State of South
      Carolina.

     

    8.  No
      Contract of Employment.
      Neither
      this Agreement nor the Plan shall be construed to constitute an agreement or
      understanding, expressed or implied, on the part of the Corporation or any
      subsidiary to employ the Participant for any specified period and shall not
      confer upon the Participant the right to continue in the employment of the
      Corporation or any subsidiary, nor affect any right which the Corporation or
      any
      subsidiary may have to terminate the employment of the Participant.

     

    9.  Withholding.
      As a
      condition to the issuance of shares pursuant to any exercise of this Option,
      the
      Participant authorizes the Corporation and its subsidiaries to withhold, in
      accordance with applicable law from any cash compensation payable to him, any
      taxes required to be withheld as a result of such exercise or later disposition
      of stock.

    
 

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

     

    10.  Legal
      Restrictions.
      This
      Option may not be exercised if the issuance of shares pursuant to such exercise
      would constitute a violation of applicable federal or state securities or other
      law or regulation. The person exercising the Option, as a condition to such
      exercise, shall represent to Corporation that the shares acquired thereby are
      being acquired for investment and not with a present view to distribution or
      resale, unless counsel for the Corporation is then of the opinion that such
      representation is not required under the Securities Act of 1933 or any other
      applicable law, regulation or rule of any governmental agency.

     

    11.  Binding
      Effect.
      This
      Agreement shall be binding upon and inure to the benefit of the Participant
      and
      his heirs, and shall be binding upon the Corporation and its successors and
      assigns.

     

    12.  Incorporation
      of Plan.
      This
      Agreement is made pursuant to and is subject to the terms and conditions of
      the
      Plan, which terms and conditions are hereby incorporated by reference
      herein.

     

    IN
      WITNESS WHEREOF,
      the
      Corporation, by its authorized representative, and the Participant do hereby
      affix their signatures on the date first written above.

     

    
       

      
        	ATTEST:	 	 	
                SCBT
                  FINANCIAL CORPORATION

                 

              
	 	 	 	 
	
                
Corporate
                Secretary	 	 	
                
                  

                

                Name: Robert
                  R. Hill, Jr.

              
	 	 	 	
                Title: President
                  and Chief Executive Officer

              
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	
                

                Participant

      

       

    

     

     

    
      
        
        

      

      
        3Exhibit 10.34

    Exhibit
      10.34

    

    

    

    

    

    

    

    

    

    May
      23, 2002

    

    

    

    ADVANCE
      AUTO PARTS, INC.

    

    EMPLOYEE
      STOCK PURCHASE PLAN

    

    PLAN
      DOCUMENT

    

    

    

    

    

    

    

    Amended
      January 1, 2006

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

      
        	
                TABLE
                  OF CONTENTS 

              
	
                 

              	
                 

              	
                 

              	
                Page 

              
	Section 1 	PURPOSE
                OF PLAN 	
                1 

              
	 	 	 	 
	Section 2	DEFINITIONS 	
                1 

              
	 	 	 	 
	 	2.1 	Account	
                1 

              
	 	2.2 	Authorization 	
                1 

              
	 	2.3 	Beneficiary 	
                1 

              
	 	2.4 	Board	
                1 

              
	 	2.5 	Code	
                1 

              
	 	2.6 	Committee 	
                1 

              
	 	2.7 	Company	
                1 

              
	 	2.8 	Compensation 	
                1 

              
	 	2.9 	Custodial Account 	
                1 

              
	 	2.10 	Custodian  	
                1 

              
	 	2.11 	Eligible Employee	
                1 

              
	 	2.12 	Enrollment Period	
                2 

              
	 	2.13 	Fair Market Value	
                2 

              
	 	2.14 	Offering Date	
                2 

              
	 	2.15 	Offering Period 	
                2 

              
	 	2.16 	Participating Employee 	
                2 

              
	 	2.17 	Participating Employer 	
                2 

              
	 	2.18 	Plan	
                2 

              
	 	2.19 	Purchase Date 	
                2 

              
	 	2.20 	Purchase Price 	
                2 

              
	 	2.21 	Stock	
                2 

              
	 	2.22 	Subsidiary 	
                2 

              
	 	 	 	 
	Section 3 	SHARES AVAILABLE UNDER
                THE
                PLAN	
                2 

              
	 	 	 	 
	Section 4	OFFERING PERIODS 	
                2 

              
	 	 	 	 
	Section 5 	ADMINISTRATION OF THE
                PLAN	
                2 

              
	 	 	 
	Section 6 	PARTICIPATION 	
                
                  3 

                

              
	 	 	 	 
	 	6.1 	Requirements 	
                3 

              
	 	6.2 	Continuity Authorization 	
                3 

              
	 	6.3 	Termination 	
                3 

              
	 	 	 	 
	Section 7  	PURCHASE OF SHARES;
                LIMITATIONS	
                3 

              
	 	 	 	 
	 	7.1 	General Rule	
                3 

              
	 	7.2 	Statutory Limitation	
                3 

              
	 	7.3 	Insufficient Number of Shares of
                Stock	
                3 

              
	 	 	 	 
	Section 8 	METHOD OF PAYMENT 	 
	 	 	 	 
	 	8.1 	Authorization 	
                
                  4
                      

                

              
	 	8.2 	Continuing Authorization 	
                 4
                   

              
	 	8.3 	Authorization Amendment 	
                 4
                   

              
	 	8.4 	Cancellation of Election to
                Purchase 	
                 4
                   

              
	 	8.5 	Account Credits, General Assets and
                Taxes 	
                 4
                   

              
	 	8.6 	No Cash Payments 	
                 4
                   

              
	 	 	 	 
	Section 9  	EXERCISE OF PURCHASE
                RIGHT 	
                5  

              
	 	 	 	 
	 	9.1 	General Rule 	
                5  

              
	 	9.2 	Fractional Shares 	
                
                  5  

                

              

      

       

       

      
        
          
          

        

        
          i

          
            

          

        

        
          
          

        

      

      

         

        
          	 	9.3	Delivery of Stock	
                  5
 

                
	 	9.4	Dividends 	
                  5
 

                
	 	 	 	
                   

                
	Section 10 	TERMINATION OF EMPLOYMENT	
                  5
 

                
	 	 	
                	
                   

                
	 	10.1	General Rule	
                  5
 

                
	 	10.2	Death 	
                  5
 

                
	 	 	 	
                   

                
	Section 11 	NON-TRANSFERABILITY	
                  5
 

                
	 	 	 	
                   

                
	Section 12  	ADJUSTMENT	
                  6  

                
	 	 	 	
                   

                
	Section 13 	SECURITIES REGISTRATION	
                  6
 

                
	 	 	 	
                   

                
	Section 14  	AMENDMENT OR
                  TERMINATION 	
                  6
 

                
	 	 	
                	
                   

                
	Section 15 	MISCELLANEOUS	
                  6
 

                
	 	 	 	
                   

                
	 	15.1 	Shareholder Rights 	
                  7
 

                
	 	15.2	No Contract of Employment	
                  7
 

                
	 	15.3	Withholding	
                  7
 

                
	 	15.4 	Construction 	
                  7
 

                
	 	15.5 	Costs 	
                  7
 

                
	 	15.6 	Liability for Taxes 	
                  
                    7
 

                  

                
	 	15.7 	Rule 16b-3 	
                  7
 

                
	 	 	 	 
	Section 16	EFFECTIVE DATE; TERM
                  OF
                  PLAN	
                  7
 

                

        

        
 

      

    

     

    
      
        
        

      

      
        ii

        
          

        

      

      
        
        

      

    

    

    Section
      1  PURPOSE
      OF THE PLAN 

     

    The
      purpose of the Advance Auto Parts, Inc. Employee Stock Purchase Plan is to
      encourage and enable Eligible Employees of Advance Auto Parts, Inc. (“the
      Company”) and its participating Subsidiaries the opportunity to acquire a
      proprietary interest in the Company through the purchase of the Company’s Stock
      at a discount. The Company believes that employees who participate in this
      Plan
      will have a closer identification with the Company by virtue of their ability
      as
      stockholders to participate in the Company’s growth and earnings. It is the
      intention of the Company to have this Plan qualify as an “employee stock
      purchase plan” under Section 423 of the Code, as amended. Accordingly, the
      provisions of this Plan shall be construed in a manner consistent with the
      requirements of that Section 423 of the Code. Any provision of the Plan
      inconsistent with Section 423 of the Code will, without further act or amendment
      by the Company, be deemed reformed to comply with Code Section 423.

     

    Section
      2  DEFINITIONS
      

     

    
      	2.1  	
              “Account”
                --
                means for each Offering Period the separate bookkeeping account which
                shall be established for each Participating Employee to record the
                payroll
                deductions made on his or her behalf to purchase Stock under this
                Plan.

            

    

     

    
      	2.2  	
              “Authorization”
                --
                means the participation election and payroll deduction authorization
                form
                which an Eligible Employee shall be required to properly complete
                (either
                in writing or via electronic submission) and timely file with the
                Human
                Resources Department before the end of an Enrollment Period in order
                to
                participate in this Plan for the related Offering Period.
                

            

    

     

    
      	2.3  	
              “Beneficiary”
                --
                means a person to whom all or a portion of the shares or cash amounts
                due
                to the Participating Employee under the Plan will be paid if the
                Participating Employee dies before receiving such shares or cash
                amounts.

            

    

     

    
      	2.4  	
              “Board”
                --
                means the Board of Directors of the
                Company.

            

    

     

    
      	2.5  	
              “Code”
                --
                means the Internal Revenue Code of 1986, as amended, and any successor
                thereto.

            

    

     

    
      	2.6  	
              “Committee”
                --
                means the committee appointed by the Board to administer the Plan
                or in
                the absence of such a committee, then the Board
                itself.

            

    

     

    
      	2.7  	
              “Company”
                --
                means Advance Auto Parts, Inc. (including any entity that is directly
                or
                indirectly wholly-owned by Advance Auto Parts, Inc. and disregarded
                as an
                entity separate from Advance Auto Parts, Inc. under Section 7701
                of the
                Code and the treasury regulations issued thereunder).
                

            

    

     

    
      	2.8  	
              “Compensation” --
                means total base pay (which includes regular pay, overtime, and shift
                premiums, but excludes bonuses, and any compensation related to stock
                options or any other remuneration paid to the Participating Employee)
                for
                services rendered by Participating Employee to the Company during
                the
                applicable period specified in the Plan.

            

    

     

    
      	2.9  	
              “Custodial
                Account”
                -- means the non-interest bearing bookkeeping account maintained
                on behalf
                of the Participating Employee to which shares purchased under Section
                9
                and dividends (net of withholding) shall be allocated and from which
                Shares and/or cash shall be
                distributed.

            

    

     

    
      	2.10  	
              “Custodian”
                --
                means the custodian for the Plan appointed by the
                Committee.

            

    

     

    
      	2.11  	
              “Eligible
                Employee”
                --- means each employee (as defined for purposes of Section 423 of
                the
                Code) of a Participating Employer who has been employed by such employer
                at least thirty days prior to the beginning of each period and who
                is
                customarily employed to work 20 or more hours per week,
                except:

            

    

     

    
      	(a)  	
              an
                employee who customarily is employed (within the meaning of Section
                423(b)(4)(B)) of the Code 20 hours or less per week by the Company
                or such
                Subsidiary.

            

    

     

    
      	(b)  	
              an
                employee who would own (immediately after the grant of an option
                under
                this Plan) stock possessing 5% or more of the total combined voting
                power
                or value of all classes of stock of the Company based on the rules
                set
                forth in Section 423(b)(3) and Section 424 of the Code.
                

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      	(c)  	
              a
                highly compensated employee (as defined under Section 414(q) of the
                Code)
                who is required to file statements under Section 16(a) of the Securities
                Exchange Act of 1934 or who otherwise falls within a category of
                highly
                compensated employees that the Committee has determined in its discretion
                to exclude under this Plan for a particular Offering
                Period.

            

    

     

    
      	2.12  	
              “Enrollment
                Period”
                --
                means the period set by the Committee which precedes the beginning
                of the
                related Offering Period and which shall continue for no more than
                30
                days.

            

    

     

    
      	2.13  	
              “Fair
                Market Value”
                --- means (1) the closing price on a given date for a share of Stock
                quoted on the New York Stock Exchange system or listed on a national
                securities exchange as reported by The
                Wall Street Journal
                or, if The
                Wall Street Journal
                no
                longer reports such closing price, such closing price as reported
                by a
                newspaper or trade journal selected by the Committee or, if no such
                closing price is available on such date, (2) such closing price as
                so
                reported for the immediately preceding business day, or, if no newspaper
                or trade journal reports such closing price or if no such price quotation
                is available, (3) the price which the Committee acting in good faith
                determines through any reasonable valuation method that a share of
                such
                Stock might change hands between a willing buyer and a willing seller,
                neither being under any compulsion to buy or to sell and both having
                reasonable knowledge of the relevant
                facts.

            

    

     

    
      	2.14  	
              “Offering
                Date”
                --
                means for each Offering Period the first day of such Offering
                Period.

            

    

     

    
      	2.15  	
              “Offering
                Period”
                --
                means a period of approximately 3 months duration commencing on the
                first
                day of each calendar year (or at such other times as may be determined
                by
                the Committee) for each year for which this Plan is in
                effect.

            

    

     

    
      	2.16  	
              “Participating
                Employee”
                --
                means for each Offering Period each Eligible Employee who has satisfied
                the requirements set forth in Section 6 of this Plan for such Offering
                Period.

            

    

     

    
      	2.17  	
              “Participating
                Employer”
                --
                means for each Offering Period the Company and each Subsidiary that
                the
                Committee designates as a Participating Employer for such Offering
                Period.

            

    

     

    
      	2.18  	
              “Plan”
                --
                means this Advance Auto Parts, Inc. Employee Stock Purchase
                Plan.

            

    

     

    
      	2.19  	
              “Purchase
                Date”
                --
                means for each Offering Period the last day of such Offering
                Period.

            

    

     

    
      	2.20  	
              “Purchase
                Price”
                --
                means for each Offering Period 95% of the Fair Market Value of a
                share of
                Stock on the “Purchase Date.”

            

    

     

    
      	2.21  	
              “Subsidiary”
                --
                means each corporation which is a subsidiary of the Company (within
                the
                meaning of Section 424(f) of the
                Code).

            

    

     

    Section
      3  SHARES
      OFFERED UNDER THE PLAN

     

    There
      shall be a total of 700,000 shares of Stock available for purchase under this
      Plan subject to any adjustment as provided in Section 12. All such shares of
      Stock shall be reserved to the extent that the Company deems appropriate from
      authorized but unissued shares of Stock or from shares of Stock that have been
      reacquired by the Company. 

     

    Section
      4  OFFERING
      PERIODS

     

    This
      Plan
      shall be implemented by a series of consecutive Offering Periods, with a new
      Offering Period commencing on or after the first day of the calendar quarter
      (or
      at such other times as may be determined by the Committee, but not exceeding
      27
      months) for each year for which this Plan is in effect.

     

    Section
      5  ADMINISTRATION
      OF THE PLAN

     

    The
      Committee shall supervise and administer this Plan. The Committee acting in
      its
      absolute discretion shall exercise such powers and take such action as expressly
      called for under this Plan and, further, the Committee shall have the power
      and
      the discretion to interpret this Plan and to take such other action in the
      administration and operation of this Plan as the Committee deems equitable
      under
      the circumstances, which action shall be binding on the Company, on each
      affected Participating Employee and Participating Employer and on each other
      person directly or indirectly affected by such action. The 

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    Committee
      in its discretion may delegate, in whole or in part, its power and authority
      to
      another person or entity.

     

    
      Section
        6  PARTICIPATION

    

     

     

    
      	6.1  	
              Requirements.
                Each Eligible Employee who is employed by a Participating Employer
                on the
                first day of an Enrollment Period shall satisfy the requirements
                to be a
                Participating Employee for the related Offering Period
                if:

            

    

     

    
      	(a)  	
              he
                or she has properly completed and filed an Authorization with the
                Committee (or its delegate) on or before the last day of such Enrollment
                Period to purchase shares of Stock under this Plan,
                and

            

    

     

    
      	(b)  	
              his
                or her employment as an Eligible Employee continues uninterrupted
                throughout the period which begins on the first day of such Enrollment
                Period and ends on the first day of the related Offering Period,
                and no
                Eligible Employee's employment shall be treated as interrupted by
                a
                transfer directly between the Company and any Subsidiary or between
                one
                Subsidiary and another Subsidiary.

            

    

     

    
      	6.2  	
              Continuity
                Authorization.
                An Authorization shall continue in effect until amended under Section
                8.3
                or cancelled under Section 8.4.

            

    

     

    
      	6.3  	
              Termination.
                A
                Participating Employee's status as such shall terminate for an Offering
                Period (for which he or she has an effective Authorization) at such
                time
                as his or her Account is withdrawn in full under Section 8.4(a) or
                his or
                her employment terminates under Section
                10.1.

            

    

     

    Section
      7  PURCHASE
      OF SHARES; LIMITATIONS

     

    
      	7.1  	
              General
                Rule.
                Subject to Section 7.2, each Participating Employee for each Offering
                Period automatically shall, as of the first day of such Offering
                Period,
                be entitled to purchase at the Purchase Price up to a maximum number
                of
                whole shares of Stock, determined and specified by dividing such
                Participant’s payroll deductions accumulated prior to the purchase date
                and retained in the Participant’s Account as of such date by the
                applicable Purchase Price. With respect to each Offering Period,
                the
                Committee may also specify on or before the first day of such Offering
                Period, as applicable, a maximum number of shares that shall be made
                available under this Plan for such Offering Period.
                

            

    

     

    
      	7.2  	
              Statutory
                Limitation.
                No Eligible Employee shall purchase any Stock under this Plan or
                under any
                other employee stock purchase plan (within the meaning of Section
                423 of
                the Code) established by the Company or any Subsidiary (within the
                meaning
                of Section 423(b)(8) of the Code) with a Fair Market Value in excess
                of
                $25,000 per calendar year determined on the Offering Date, at the
                time the
                purchase occurs. For purposes of this limitation, an Eligible Employee's
                right to purchase Stock of the Company under this Plan shall occur
                on the
                Offering Date for such option (subject, however, to the Committee's
                ability to divest such right under Section
                10.1).

            

    

     

    
      	7.3  	
              Insufficient
                Number of Shares of Stock.
                If the number of shares of Stock available for purchase for any Offering
                Period is insufficient to cover the number of shares which Participating
                Employees elect to purchase during such Offering Period (whichever
                is
                applicable), then the number of shares of Stock which each Participating
                Employee has a right to purchase on the Purchase Date shall be reduced
                to
                the number of shares of Stock which the Committee (or its delegate)
                shall
                determine by multiplying the number of shares of Stock available
                under
                this Plan for such Offering Period or (as applicable) by a fraction,
                the
                numerator of which shall be the number of shares of Stock which such
                Participating Employee elected to purchase during such Offering Period
                (as
                applicable) and the denominator of which shall be the total number
                of
                shares of Stock which all Participating Employees elected to purchase
                during such Offering Period (as
                applicable).

            

    

     

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    Section
      8  METHOD
      OF PAYMENT

     

    
      	 	
              8.1

            	
              Authorization.
                To enroll in the Plan for an Offering Period, an Eligible Employee
                must
                file an Authorization with the Company (or its designee) and elect
                to make
                contributions under the Plan in such form and manner and by such
                date as
                determined and communicated by the Committee. Each Participating
                Employee's Authorization shall specify the specific dollar amount
                which he
                or she authorizes his or her Participating Employer to deduct from
                his or
                her Compensation each pay period (determined in accordance with such
                Participating Employer's standard payroll policies and practices)
                during
                the Offering Period for which such Authorization is in effect,
                provided:

            

    

     

    
      	(a)  	
              the
                minimum amount deducted from a Participating Employee's Compensation
                during any pay period in an Offering Period shall not be less than
                $5.

            

    

     

    
      	(b)  	
              the
                maximum amount deducted from a Participating Employee's Compensation
                during any calendar year shall not exceed the lesser of $25,000 or
                ten
                (10%) of the Participating Employee’s
                Compensation.

            

    

     

    
      	 	
              8.2

            	
              Continuing
                Authorization.
                An Authorization once timely filed under Section 6.1(a) for an Offering
                Period commencing on the first day of the calendar year shall continue
                in
                effect for each Offering Period thereafter that commences on the
                first day
                of the calendar year until amended under Section 8.3 or cancelled
                under
                Section 8.4, and an Authorization once timely filed under Section
                6.1(a)
                for an Offering Period commencing on the first day of a calendar
                quarter
                shall continue in effect for each Offering Period
                thereafter.

            

    

     

    
      
        	 	
                8.3

              	
                Authorization
                  Amendment.
                  An Authorization for an offering Period commencing on the first
                  day of the
                  Company’s calendar year may be amended during an Enrollment Period for
                  such offering Period and the amendment shall be effective for such
                  Offering Period if timely filed under Section
                  6.1(a).

              

      

       

    

    
      	 	
              8.4

            	
              Cancellation
                of Election to Purchase.
                A
                Participating Employee who has elected to purchase Stock for an Offering
                Period may cancel his or her election in its entirety during an Offering
                Period. Any such cancellation shall be effective upon the delivery
                by the
                Participating Employee of written notice of cancellation to the office
                or
                person designated to receive elections. Such notice of cancellation
                must
                be so delivered before the close of business on the last business
                day of
                the Offering Period.

               

              A
                Participating Employee’s rights upon the cancellation of his or her
                election to purchase Stock shall be limited to the
                following:

            

    

     

     

    
      	 	
              (a)

            	
              he
                or she may receive in cash, as soon as practicable after delivery
                of the
                notice of cancellation, the full amount then credited to his or her
                Account (no partial withdraws are permitted);
                or

            

    

     

    
      	 	
              (b)

            	
              he
                or she may have the amount credited to his or her Account at the
                time the
                cancellation becomes effective applied to the purchase of the number
                of
                shares such amount will then purchase at the end of the Offering
                Period.

            

    

     

    
      	 	
              8.5

            	
              Account
                Credits, General Assets and Taxes.
                All payroll deductions made for a Participating Employee shall be
                credited
                to his or her Account as of the pay day as of which the deduction
                is made.
                All payroll deductions shall be held by the Company or by one, or
                more
                than one, Subsidiary (as determined by the Committee) as part of
                the
                general assets of the Company or any such Subsidiary, and each
                Participating Employee's right to the payroll deductions credited
                to his
                or her Account shall be those of a general and unsecured creditor.
                The
                Company or such Subsidiary shall have the right to withhold on payroll
                deductions to the extent such person deems necessary or appropriate
                to
                satisfy applicable tax laws.

            

    

     

    
      	 	
              8.6

            	
              No
                Cash Payments.
                No Participating Employee may make any contribution to his or her
                Account
                except through payroll deductions made in accordance with this Section
                8.

            

    

     

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    
      Section
        9  EXERCISE
        OF PURCHASE RIGHT

    

     

    
      	 	
              9.1

            	
              General
                Rule.
                As soon as practicable after the Purchase Date of each Offering Period,
                the Company or Custodian will purchase the number of shares of whole
                Stock
                that may be purchased by the amounts credited to each Participating
                Employee’s Custodial Account as of such Purchase
                Date.

            

    

     

    
      	 	
              9.2

            	
              Fractional
                Shares.
                No fractional shares shall be purchased under the Plan. The Committee
                may,
                at its discretion, determine whether cash in an amount representing
                the
                price of any fractional share shall be refunded, carried over to
                the next
                Offering Period, or applied to the purchase of a fractional share
                at the
                end of an Offering Period; provided that such determination shall
                apply
                uniformly to all Participating Employees for each Offering
                Period.

            

    

     

    
      	 	
              9.3

            	
              Delivery
                of Stock.
                A
                stock certificate representing any shares of Stock purchased under
                this
                Plan shall be credited to such Participating Employee’s Custodial Account,
                as of such Purchase Date. At the Participating Employee's direction
                and
                expense, a stock certificate can be delivered to the Participating
                Employee and shall be registered in his or her name. No Participating
                Employee (or any person who makes a claim through a Participating
                Employee) shall have any interest in any shares of Stock subject
                until
                such shares have been purchased and the related shares of Stock actually
                have been delivered to such person or have been transferred to their
                Custodial Account.

            

    

     

    
      	 	
              9.4

            	
              Dividends.
                Any dividends (net of any withholding taxes) received with respect
                to
                shares credited to Participating Employee’s Custodial Account will be
                reinvested in additional shares which shall be purchased by the Custodian
                in the open market (or by some other means as determined by the Committee)
                as soon as administratively feasible following receipt of such net
                dividend payment by the Custodian. 

            

    

     

    
      Section
        10  TERMINATION
        OF EMPLOYMENT

    

     

    
       

      
        	 	
                10.1

              	
                
                  General
                    Rule.
                    Subject to Section 10.2, if a Participating Employee's employment
                    as an
                    Eligible Employee terminates on or before the Purchase Date for
                    an
                    Offering Period for any reason whatsoever, his or her Account
                    shall be
                    distributed as if he or she had elected to withdraw in full his
                    or her
                    Account in cash under Section 8.4(a) immediately before the date
                    his or
                    her employment had so terminated. However, if a Participating
                    Employee is
                    transferred directly between the Company and a Participating
                    Subsidiary or
                    between one Participating Subsidiary and another Participating
                    Subsidiary
                    while he or she has an Authorization in effect, his or her employment
                    shall not be treated as terminated merely by reason of such transfer
                    and
                    any such Authorization shall (subject to all the terms and conditions
                    of
                    this Plan) remain in effect after such transfer for the remainder
                    of such
                    Offering Period. 

                

              

      

       

    

    
      
        
          	 	
                  10.2

                	
                  
                     

                  

                

        

         

      

       

      
        	 	
                10.2

              	
                Death.
                  If a Participating Employee dies and has an election to purchase
                  Stock in
                  effect at the time of his or her death, the legal representative
                  of the
                  deceased Participating Employee may, by delivering written notice
                  to the
                  office or person designated to receive elections no later than
                  the end of
                  the Offering Period, elect
                  to

              

      

       

    

    
      	(a)  	
              have
                the amount credited to the Participating Employee's Account at the
                time of
                his or her death, or

            

    

     

    
      	(b)  	
              cancel
                in full the election to purchase shares of Stock in accordance with
                the
                provisions of Section 8.4(a). 

            

    

     

    If
      no
      such notice is given within such period, the election will be deemed canceled
      as
      of the date of death, and the only right of such legal representative will
      be to
      receive in cash the amount credited to the deceased Participating Employee’s
      Account.

    

    Section
      11  NON-TRANSFERABILITY

     

    Neither
      the balance credited to a Participating Employee's Account nor any rights to
      purchase Stock under this Plan shall be transferable other than by will or
      by
      the laws of descent and distribution, and 

     

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    any
      purchase right shall be exercisable during a Participating Employee’s lifetime
      only by the Participating Employee. 

     

    
      Section
        12  ADJUSTMENT

    

     

    The
      number, kind or class (or any combination thereof) of shares of Stock reserved
      under Section 3, and the Purchase Price of such shares of Stock as well as
      the
      number, kind or class (or any combination thereof) of shares of Stock subject
      to
      grants under this Plan shall be adjusted by the Committee in an equitable manner
      to reflect any change in the capitalization of the Company, including, but
      not
      limited to such changes as Stock dividends or Stock splits.

     

    
      Section
        13  SECURITIES
        REGISTRATION

    

     

    As
      a
      condition to the receipt of shares of Stock under this Plan, an Eligible
      Employee shall, if so requested by the Company, agree to hold such shares of
      Stock for investment and not with a view of resale or distribution to the public
      and, if so requested by the Company, shall deliver to the Company a written
      statement satisfactory to the Company to that effect. Furthermore, if so
      requested by the Company, the Eligible Employee shall make a written
      representation to the Company that he or she will not sell or offer for sale
      any
      of such Stock unless a registration statement shall be in effect with respect
      to
      such Stock under the Securities Act of 1933 and any applicable state securities
      law or the Eligible Employee shall have furnished to the Company an opinion
      in
      form and substance satisfactory to the Company of legal counsel satisfactory
      to
      the Company that such registration is not required. Certificates representing
      the Stock transferred upon the exercise of an option may at the discretion
      of
      the Company bear a legend to the effect that such Stock has not been registered
      under the Securities Act of 1933 or any applicable state securities law and
      that
      such Stock cannot be sold or offered for sale in the absence of an effective
      registration statement as to such Stock under the Securities Act of 1933 and
      any
      applicable state securities law or an opinion in form and substance satisfactory
      to the Company of legal counsel satisfactory to the Company that such
      registration is not required.

     

    
      Section
        14  AMENDMENT
        OR TERMINATION

    

     

    This
      Plan
      may be amended by the Board from time to time to the extent that the Board
      deems
      necessary or appropriate in light of, and consistent with, Section 423 of the
      Code and the laws of the Commonwealth of Virginia, and any such amendment shall
      be subject to the approval of the Company's stockholders to the extent such
      approval is required under Section 423 of the Code or the laws of the
      Commonwealth of Virginia or to the extent such approval is required to satisfy
      any requirements under applicable law. 

    The
      Board
      also may terminate this Plan or any offering made under this Plan at any time.
      The actions of the Committee may be taken at a meeting by a majority of its
      members, in writing without a meeting if all members of the Committee sign
      such
      writing or by the use of a conference telephone or other communications
      equipment by means of which all persons participating in the meeting can hear
      each other and participation in such a meeting in this manner shall constitute
      attendance and presence in person at the meeting of the person or persons so
      participating for all purposes. 

    The
      Committee will administer the Plan on a nondiscriminatory basis and will apply
      uniform rules to all persons similarly situated. The Board reserves the right
      to
      amend the Plan from time to time subject to the following
      limitations:

     

    
      	(a)  	
              No
                amendment will be made without the prior approval of the stockholders
                of
                the Company if the amendment will (1) increase the number of shares
                available for purchase under the Plan, or (2) materially modify the
                eligibility conditions or increase the benefits available to Eligible
                Employees under the Plan.

            

    

     

    
      	(b)  	
              No
                amendment will reduce the amount of a Participating Employee’s Account or
                Custodial Account balance.

            

    

     

    
      	(c)  	
              No
                amendment will be made which will cause the Plan to not satisfy the
                requirements under Section 423 of the
                Code.

            

    

     

    .

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    Section
      15  MISCELLANEOUS

     

    
       

      
        	 	
                15.1

              	
                Stockholder
                  Rights.
                  No Participating Employee shall have any rights as a stockholder
                  of the
                  Company as a result of the grant of a purchase right pending the
                  actual
                  delivery of the Stock subject to such a purchase right to such
                  Participating
                  Employee. 

              

      

      
        
          	 	
                  15.2

                	
                  No
                    Contract of Employment.
                    The grant of a purchase right to a Participating Employee under
                    this Plan
                    shall not constitute a contract of employment and shall not confer
                    on a
                    Participating Employee any rights upon his or her termination
                    of
                    employment. 

                

        

        
          
            	 	
                    15.3

                  	
                    
                      Withholding.
                        Each purchase right shall be made subject to the condition
                        that the
                        Participating Employee consents to whatever action the Company
                        directs to
                        satisfy the federal and state tax withholding requirements,
                        if any, which
                        the Company in its discretion deems applicable to the exercise
                        of such
                        purchase right. 

                    

                  

          

          
            
              
                	 	
                        15.4

                      	
                        
                          
                            Construction.
                              All references to sections are to sections of this
                              Plan unless otherwise
                              indicated. This Plan shall be construed under the laws
                              of the Commonwealth
                              of Virginia, without regard to the law of conflicts
                              of such state, to the
                              extent that federal law does not preempt such laws.
                              Finally, each term set
                              forth in Section 2 shall have the meaning set forth
                              opposite such term for
                              purposes of this Plan and, for purposes of such definitions,
                              the singular
                              shall include the plural and the plural shall include
                              the
                              singular. 

                          

                        

                      

              

              
                
                  
                    	 	
                            15.5

                          	
                            
                              
                                Costs.
                                  All costs and expenses incurred in the administration
                                  of the Plan will be
                                  paid by the Company. Any brokerage fees or expenses
                                  for the sale or
                                  transfer of Stock by a Participating Employee will
                                  be borne by the
                                  Participating
                                  Employee. 

                              

                            

                          

                  

                  
                    
                      
                        	 	
                                15.6

                              	
                                
                                  
                                    Liability
                                      for Taxes.
                                      Each Participating Employee shall be responsible
                                      for, and will indemnify
                                      the Participating Employer against, any federal,
                                      state or local income or
                                      other applicable taxes, including any interest
                                      or penalties relating
                                      thereto, to which the Participating Employee
                                      may be subject as a result of
                                      the Participating Employee’s participation in the Plan or the
                                      Participating Employee’s sale of shares acquired
                                      thereunder

                                  

                                

                              

                      

                      
                        
                          
                            	 	
                                    15.7

                                  	
                                    
                                      Rule
                                        16b-3.
                                        The Committee shall have the right to amend
                                        any purchase right to withhold
                                        or otherwise restrict the transfer of any
                                        Stock of the Company or cash
                                        under this Plan to an Eligible Employee as
                                        the Committee deems appropriate
                                        in order to satisfy any condition or requirement
                                        under Rule 16b-3 to the
                                        extent Rule 16 of the Securities Exchange
                                        Act of 1934 might be applicable
                                        to such grant or transfer.

                                    

                                  

                          

                           

                           

                        

                      

                      
                        Section
                          16  EFFECTIVE
                          DATE, TERM OF
                          PLAN

                      

                    

                  

                

              

            

          

        

      

    

     

    This
      Plan
      shall become effective upon approval by the Company's stockholders and shall
      continue in effect for a term of ten years unless terminated earlier under
      Section 14.

    

    
      
        
        

      

      
        7

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