Document:

<PAGE>   1

                                                                   EXHIBIT 10.11

                                COTT CORPORATION

                      CANADIAN EMPLOYEE SHARE PURCHASE PLAN

1.       PURPOSE AND ESTABLISHMENT OF THE PLAN

1.1      Cott hereby establishes a plan to be known as "The Cott Corporation
         Canadian Employee Share Purchase Plan" (the "Plan"). The Plan has been
         established for the following purposes:

         (a)      to encourage Employees to invest in Common Shares;

         (b)      to facilitate such investment by providing the means whereby
                  Common Shares can be acquired through payroll deductions and
                  held for safekeeping by the Trustee on behalf of Participants;
                  and

         (c)      to allow Participating Companies to make contributions on
                  behalf of Participants.

2.       DEFINITIONS

2.1      "ACT" means the Income Tax Act (Canada), as amended;

2.2      "COTT" means Cott Corporation, a corporation amalgamated under the laws
         of Canada.

2.3      "COMMITTEE" means the Human Resources and Compensation Committee of the
         board of directors of Cott.

2.4      "COMMON SHARES" means whole and fractional common shares in the capital
         of Cott.

2.5      "CONTRIBUTION PERIOD" means the period in any calendar year during
         which a Participant begins participation in the Plan.

2.6      "EMPLOYEE" means a full-time or regular part-time employee of any of
         the Participating Companies.

2.7      "GROUP REGISTERED RETIREMENT SAVINGS PLAN" means the Cott group
         registered retirement savings plan currently administered by the
         Trustee in respect of the Plan.

2.8      "NORMAL RETIREMENT" means retirement from office or employment with a
         Participating Company (at the election of the Participant and as agreed
         to by the Participating Company) coincident with or following the
         attainment by the Participant of age fifty-five.

2.9      "PARTICIPANT" means an Employee who is a resident of Canada and elects
         to participate in the Plan pursuant to Section 3.1 hereof and/or an
         Employee who has not so elected but on whose behalf contributions to
         the Plan have been made by Participating Companies pursuant to Section
         4.2 hereof, and in the case of the death of a Participant, includes the
         personal representative of the Participant.

<PAGE>   2

                                       2

2.10     "PARTICIPATING COMPANIES" means Cott and any other company designated
         as a Participating Company from time to time by the Committee.

2.11     "PERMANENT DISABILITY" means the complete and permanent incapacity of a
         Participant, as determined by a Cott approved licensed medical
         practitioner, due to a medically determinable physical or mental
         impairment which prevents such Participant from performing
         substantially all of the essential duties of his or her office or
         employment.

2.12     "TERMINATION DATE" in respect of a Terminated Participant's termination
         pursuant to Section 6.6 means the Participant's last day of active
         service (without regard to any notice of termination owing pursuant to
         statute, regulation, agreement or common law).

2.13     "TERMINATED PARTICIPANT" means a Participant who has been terminated in
         accordance with Section 6.6 of the Plan.

2.14     "TRUST" means the "Canadian Employee Share Purchase Plan Trust" as
         embodied in a trust agreement entered into between Cott and the
         Trustee.

2.15     "TRUSTEE" means The Canada Trust Company or its successor for the time
         being in the trusts created hereby and by the Trust.

2.16     "UNVESTED SHARES" means those Common Shares held by the Trustee under
         the Plan for the benefit of particular Participants that have not
         vested for the purposes of the Plan.

2.17     "VESTED SHARES" means those Common Shares held by the Trustee under the
         Plan for the benefit of particular Participants that have vested for
         the purposes of the Plan.

3.       PARTICIPATION

3.1      Employees may elect to participate in the Plan by signing and
         delivering to Cott an election and authorization in the form attached
         hereto as Schedule A which shall:

         (a)      indicate the amount (being between 1.5% and 3% of the
                  bi-weekly base salary of the Participant, after applicable
                  statutory deductions) which such Participant desires to apply
                  to the purchase of Common Shares and authorizing the payroll
                  deduction of such amount on a bi-weekly basis; and

         (b)      authorize Cott and/or the Trustee to cause Common Shares to be
                  acquired on behalf of the Participant on or about the last
                  trading day of each month and to cause the Common Shares so
                  acquired to be held for safekeeping by the Trustee as agent
                  for the Participant.

3.2      On or about the last trading day in each month, funds contributed to
         the Plan pursuant to Section 3.1 shall be used by the Trustee to
         acquire Common Shares on The Toronto Stock Exchange at the prevailing
         market price of Common Shares at the time and on the date of purchase
         of Common Shares.

3.3      An election to participate in the Plan may be delivered only once in
         each of Cott's fiscal years. If a Participant ceases to participate in
         the Plan at any time during Cott's fiscal

<PAGE>   3

                                       3

         year, such Participant shall not be entitled to resume participation in
         the Plan until the commencement of the following fiscal year.

4.       CONTRIBUTIONS BY PARTCIPATING COMPANIES

4.1      Concurrently with each contribution by a Participant under Section 3.1
         above, the Participating Companies will cause to be contributed to the
         Trustee for the benefit of such Participant, an amount equal to
         sixty-six and two-thirds percent (66-2/3%) of such Participant's
         contribution, or such other amount which may be greater than or less
         than sixty-six and two-thirds percent (66-2/3%) as the Committee may,
         from time to time and at any time, designate to be contributed by the
         Participating Companies to the Trustee for the benefit of a
         Participant.

4.2      In addition to contributions made by Participating Companies under
         Section 4.1 hereof, Participating Companies may, with the approval of
         the Committee, make contributions or additional contributions in
         respect of any one or more Participants. The Committee may attach any
         conditions or requirements, including any conditions or requirements
         respecting the vesting of Common Shares acquired with such additional
         contributions, as the Committee may determine in its absolute
         discretion in respect of such contributions or additional
         contributions.

4.3      Notwithstanding the provisions of Sections 4.1 and 4.2, if a
         Participant forfeits his or her Unvested Shares in accordance with
         Sections 6.3, 6.4 or 6.6, all rights of such Participant with respect
         to such forfeited Unvested Shares shall immediately terminate. The
         Unvested Shares so forfeited will be reallocated by the Trustee to all
         or a portion of the remaining or future Participants in satisfaction of
         the current or future obligations of the Participating Companies to
         make contributions under the Plan in accordance with Sections 4.1 or
         4.2.

4.4      As soon as practicable after receiving the funds referred to in Section
         4.2, the Trustee shall use such funds to acquire Common Shares on the
         Toronto Stock Exchange at the prevailing market price of Common Shares
         at the time and on the date of acquisition of the Common Shares.

5.       ACCOUNTING AND REPORTING

5.1      An account will be maintained for each Participant in which there will
         be recorded the deposits made to the Plan by the Participant and by the
         Participating Companies and the number of Common Shares held on his or
         her behalf. This account shall separately denote the Participant's
         Vested Shares and Unvested Shares. The account shall also contain such
         other information as may be necessary in connection with the
         administration of the Plan.

5.2      The Trustee will provide to each Participant on a quarterly basis a
         summary of such Participant's account and a calculation of the average
         acquisition cost of Common Shares held on his or her behalf.

<PAGE>   4

                                       4

6.       VESTING

6.1      All Common Shares acquired by the Trustee under the Plan with funds
         contributed to the Plan by a Participant shall vest immediately upon
         acquisition by the Trustee for the benefit of such Participant. The
         Trustee shall hold such shares for safekeeping as agent for the
         Participant until delivered pursuant to the provisions of this
         Article 6 or Article 7 hereof.

6.2      Subject to the provisions of this Article 6 hereof, and unless
         otherwise expressly determined by the Committee (prior to the day on
         which the first contribution has been made to the Plan in each Cott
         fiscal year by a Participating Company), the Common Shares acquired by
         the Trustee under the Plan with funds contributed to the Plan by the
         Participating Companies for the benefit of a Participant shall vest in
         him or her on the following basis:

         (a)      30% thereof shall vest on the first business day of each of
                  the first and second calendar years that follow the end of the
                  Contribution Period; and

         (b)      40% thereof shall vest on the first business day of the third
                  calendar year that follows the end of the Contribution Period.

         For greater certainty, the Committee may determine different vesting
         requirements for Common Shares acquired with funds contributed under
         Sections 4.1 and 4.2 hereof. At the time of vesting, Common Shares will
         vest at the fair market value and will be treated as employment income
         at such time.

6.3      The right of a Participant in respect of Unvested Shares acquired in a
         Contribution Period shall cease and terminate if such Participant has
         withdrawn from the Plan any of the Common Shares acquired by the
         Trustee with funds contributed to the Plan by the Participant during
         that same Contribution Period. Pursuant to Section 4.3 above, the
         Unvested Shares so forfeited will be reallocated by the Trustee to all
         or a portion of the remaining or future Participants in satisfaction of
         the current or future obligations of the Participating Companies to
         make contributions under the Plan in accordance with Sections 4.1 or
         4.2. This Section 6.3 does not apply where the Participant has
         withdrawn Common Shares from the Plan for the sole purpose of
         contributing such Common Shares to the Group Registered Retirement
         Savings Plan.

6.4      The right of a Participant in respect of Unvested Shares purchased for
         that Participant's account in any Contribution Period shall cease and
         terminate if such Participant has withdrawn from the Group Registered
         Retirement Savings Plan, during such Contribution Period. Pursuant to
         Section 4.3 above, the Unvested Shares so forfeited will be reallocated
         by the Trustee to all or a portion of the remaining or future
         Participants in satisfaction of the current or future obligations of
         the Participating Companies to make contributions under the Plan in
         accordance with Sections 4.1 or 4.2.

6.5      If the employment of a Participant is terminated by reason of death,
         Normal Retirement or Permanent Disability of the Participant, all
         Unvested Shares of such Participant shall immediately become vested in
         that Participant. Thereafter, such Participant shall have no

<PAGE>   5

                                       5

         further entitlement under the Plan and such Participant or his or her
         legal personal representative must take immediate delivery of all
         Vested Shares.

6.6      If the employment of a Participant is terminated for any reason
         (including, but not limited to, termination without cause) other than
         death, Normal Retirement or Permanent Disability, all rights of such
         Terminated Participant with respect to all Unvested Shares shall
         terminate on the Terminated Participant's Termination Date. Thereafter,
         such Terminated Participant shall have no further entitlement under the
         Plan and shall cease to be a beneficiary under the Plan. Pursuant to
         Section 4.3 above, the Unvested Shares so forfeited will be reallocated
         by the Trustee to all or a portion of the remaining or future
         Participants in satisfaction of the current or future obligations of
         the Participating Companies to make contributions under the Plan in
         accordance with Sections 4.1 or 4.2. The Terminated Participant must
         deliver a written direction to the Trustee within ninety (90) days of
         such Termination Date to either: (i) take all steps necessary to
         convert such Terminated Participant's Vested Shares to cash and to
         forward a cheque for the amount of cash so realized (net of all fees
         and expenses) to such Terminated Participant; or (ii) deliver share
         certificates to the Terminated Participant evidencing such Vested
         Shares. In the event that a Terminated Participant fails to deliver
         such notification within such ninety (90) days, and after receipt of
         written notice by the Company, the Trustee shall issue and deliver
         share certificates to the Terminated Participant evidencing such Vested
         Shares.

6.7      Notwithstanding anything else contained herein,

         (a)      a consolidation, merger or amalgamation of Cott with or into
                  any other corporation whereby the voting shareholders of Cott
                  immediately prior to such event receive less than 50% of the
                  voting shares of the consolidated, merged or amalgamated
                  corporation;

         (b)      a sale by Cott of all or substantially all of Cott's
                  undertakings and assets; or

         (c)      a proposal by or with respect to Cott being made in connection
                  with a liquidation, dissolution or winding-up of Cott,

         all of each Participant's Unvested Shares shall immediately vest in
         that Participant.

6.8      If a take-over bid (within the meaning of the Securities Act
         (Ontario)), other than a take-over bid exempt from the requirements of
         Part XX of such Act pursuant to paragraphs 93(1)(b) or (c) thereof
         (a "Qualifying Take-over Bid"), is made for the Common Shares, all
         Unvested Shares shall immediately vest conditional upon successful
         completion of such Qualifying Take-over Bid and each Participant shall
         have the right to tender such Unvested Shares to the Qualifying
         Take-over Bid by notice of guaranteed delivery. If a Qualifying
         Take-over Bid is made for the Common Shares, and such Qualifying
         Take-over Bid does not permit tendering by notice of guaranteed
         delivery, Cott shall, on consummation of such a Qualifying Take-over
         Bid, subject to compliance with all applicable laws and regulations,
         repurchase each Unvested Share held by the Participants at a purchase
         price equal to the offer price pursuant to the Qualifying Take-over
         Bid.

<PAGE>   6

                                       6

         Cott will take all reasonable steps necessary to facilitate or
         guarantee the exercise by the Participants of the rights hereinbefore
         described.

6.9      Until delivered pursuant to the provisions of this Article 6 or Article
         7 hereof, Vested Shares allocated to a Participant shall be held for
         safekeeping by the Trustee as agent for such Participant.

7.       WITHDRAWAL

7.1      A Participant may, at any time and from time to time, by completing and
         delivering a withdrawal notice in the form of Schedule B hereto,
         request delivery to him or her of certificates or cash equivalent for
         such Participant's Vested Shares. Other than pursuant to the policies
         of Cott respecting the trading of the Common Shares by Employees or by
         law, Vested Shares are not subject to any restrictions concerning their
         use.

7.2      Only whole Vested Shares will be delivered. If a Participant is
         entitled to a fraction of a Vested Share, such entitlement will be
         satisfied by the cash payment to such Participant of the then current
         market value of such fraction of a share.

8.       DIVIDENDS AND OTHER RIGHTS

8.1      The Trustee shall distribute all cash dividends and stock dividends
         received by it in a year in respect of all Vested Shares and Unvested
         Shares held by it on behalf of the Participants to the Participants in
         the same year as such dividends are received by the Trust. Stock
         dividends received by the Trustee in a year in respect of all Vested
         Shares and Unvested Shares held by it on behalf of any Participant
         shall be allocated to that Participant on a fully vested basis, in the
         same year as such dividends are received by the Trustee.

8.2      If the Trustee becomes entitled to subscribe for additional Common
         Shares or other securities of Cott by virtue of the Trustee being the
         registered holder of Vested Shares or Unvested Shares, the Trustee
         shall forthwith irrevocably transfer such subscription rights with
         respect to such Common Shares then held by the Trustee on behalf of the
         Participants to such Participants.

8.3      The Trustee may attend all meetings of shareholders of Cott which it
         shall be entitled to attend by virtue of being the registered holder of
         Common Shares and shall vote the Common Shares held on behalf of each
         Participant at every such meeting in such manner as each Participant
         shall have directed in writing, and in default of any such direction,
         the Trustee shall refrain from voting the Vested Shares and Unvested
         Shares. The Trustee will, if so required by any Participant, execute
         all proxies necessary or proper to enable the Participant to vote at
         such meeting in place of the Trustee.

9.       AMENDMENT/TERMINATION

9.1      A Participant may terminate participation in the Plan at any time by
         notice in writing to Cott.

9.2      The Committee may terminate the Plan at any time.

<PAGE>   7

                                       7

9.3      From time to time the Committee may amend any provisions of the Plan
         and any provisions of the Trust, but no amendment of the Plan or the
         Trust, or any termination of the Plan, shall divest any Participant of
         his or her entitlement to Common Shares as provided in Article 6 or of
         any rights a Participant may have in respect of the Common Shares,
         without the prior written consent of the Participant. No amendment of
         the Plan shall affect the rights and duties of the Trustee without its
         prior written consent.

10.      GENERAL

10.1     The Plan is established under the laws of the Province of Ontario and
         the rights of all parties and the construction and effect of each and
         every provision of the Plan shall be according to the laws of the
         Province of Ontario and the federal laws of Canada applicable therein.

10.2     The Trustee shall be entitled to rely on a certificate of the CEO, the
         Senior Vice President of Human Resources or the Corporate Secretary of
         Cott as to any of the following matters:

         (a)      when the employment of a Participant with a Participating
                  Company has terminated;

         (b)      the date of death, Normal Retirement or Permanent Disability
                  of any Participant;

         (c)      when an Employee is deemed to be a Participant for the
                  purposes of the Plan; and

         (d)      the vesting period of any Common Shares granted to a
                  Participant under the Plan.

10.3     The Committee may make, amend and repeal at any time and from time to
         time such regulations not inconsistent herewith as it may deem
         necessary or advisable for the proper administration and operation of
         the Plan. In particular, the Committee may delegate to any officer of a
         Participating Company such administrative duties and powers as it may
         see fit.

10.4     Two officers of Cott, one of whom must be the CEO, the Senior Vice
         President of Human Resources or the Corporate Secretary, are hereby
         authorized to sign and execute all instruments and documents and do all
         things necessary or desirable for carrying out the provisions of this
         Plan.

10.5     The Plan and the Trust shall enure to the benefit of and be binding
         upon Cott, its successors and assigns. The interest hereunder of any
         Participant shall not be transferable or alienable by such Participant
         either by assignment or in any other manner whatsoever and, during his
         or her lifetime, shall be vested only in him or her, but shall enure to
         the benefit of and be binding upon the legal personal representatives
         of the Participant.

10.6     Any questions of interpretation of the Plan will be submitted to the
         Committee for resolution. Any resolution of such a question of
         interpretation of the Plan by the Committee shall be final in all
         respects, and in particular, shall not be subject to any appeals
         whatsoever.

<PAGE>   8

                                       8

10.7     This Plan is an "employee benefit plan" for the purposes of the Act.

DATED as of the 2nd day of October, 2000, with an effective date of January 2,
2001.

                                     COTT CORPORATION

                                     PER:  /s/ Colin Walker
                                         ---------------------------------------

                                     PER:  /s/ Mark Halperin
                                         ---------------------------------------

<PAGE>   9

                                   SCHEDULE A

<PAGE>   10

                                   SCHEDULE B<PAGE>   1

EXHIBIT 10.3

                             THE RYLAND GROUP, INC.
                     2000 NON-EMPLOYEE DIRECTOR EQUITY PLAN

      Section 1.  PURPOSE

      The purpose of The Ryland Group, Inc., 2000 Non-Employee Director Equity
Plan (the "Plan") is to advance the interests of the Corporation and its
stockholders by encouraging increased Common Stock ownership by members of the
Board of Directors.

      Section 2.  DEFINITIONS

      "Board" means the Board of Directors of the Corporation.

      "Committee" means the Compensation Committee of the Board or such other
committee of the Board that is designated by the Compensation Committee or the
Board from time to time to administer the Plan.

      "Common Stock" means the Common Stock, $1.00 par value, of the
Corporation.

      "Corporation" means The Ryland Group, Inc.

      "Employee" means any officer or employee of the Corporation or of its
subsidiaries.

      "Market Price" means the last reported sale price of the Common Stock on
the New York Stock Exchange; or, if the Common Stock is not listed on the New
York Stock Exchange, the closing price on such other exchange on which the
Common Stock is traded; or, if quoted on the Nasdaq National Market System or
other over-the-counter market, the last reported sales price on the Nasdaq
National Market System or other over-the-counter market; or, if the Common Stock
is not publicly traded, such price as shall be determined by the Committee to be
the fair market value.

      "Non-Employee Director" or "Participant" means a member of the Board who
is not at the time also an Employee.

      "Stock Options" mean stock options granted under the Plan which are
nonstatutory stock options not intended to qualify under Section 422 of the
Internal Revenue Code of 1986, as amended.

      Section 3.  SHARES OF COMMON STOCK SUBJECT TO THE PLAN

      (a) Subject to adjustment as provided in Section 3(b) below, the maximum
aggregate number of shares of Common Stock that may be issued under the Plan
shall be equal to the

                                       19
<PAGE>   2

sum of: (i) 275,000 shares, plus (ii) any shares of Common Stock available for
future awards under the 1992 Non-Employee Director Equity Plan as of the date on
which the Plan is approved by the stockholders of the Corporation. The Common
Stock issued under the Plan will come from authorized but unissued shares of
Common Stock, and the Corporation will set aside and reserve for issuance under
the Plan said number of shares.

      (b) In the event of any stock dividend, extraordinary cash dividend,
creation of a class of equity securities, recapitalization, reorganization,
merger, consolidation, split-up, spin-off, combination, exchange of shares,
warrants or rights offering to purchase Common Stock at a price below Market
Price or similar change affecting the Common Stock, appropriate adjustment shall
be made in the maximum number and kind of shares subject to the Plan,
outstanding Stock Options and subsequent grants of Stock Options and in the
exercise price of outstanding Stock Options.

      Section 4.  ADMINISTRATION OF THE PLAN

      Stock Option grants under the Plan are automatic as provided in Section 6.
The Plan is administered by the Committee. The Committee shall have the powers
vested in it by the terms of the Plan. The Committee shall, subject to the
provisions of the Plan, have the power to construe the Plan, to determine all
questions arising thereunder and to adopt and amend rules and regulations for
the administration of the Plan. Notwithstanding the foregoing, the Committee
shall have no discretion with respect to the eligibility or selection of
Participants, and the timing or exercise price of Stock Options. Any decisions
of the Committee on the administration of the Plan shall be final and
conclusive.

      Section 5.  PARTICIPATION IN THE PLAN

      All Non-Employee Directors shall participate in the Plan.

      Section 6.  DETERMINATION OF STOCK OPTIONS

      Each Stock Option granted under the Plan shall be evidenced by a written
instrument in such form as the Committee may approve and shall be subject to the
following terms and conditions:

      (a) On December 31, 2000, and on each December 31 thereafter during the
term of the Plan, each Non-Employee Director first elected to the Board during
the calendar year that includes such date shall receive an option to purchase
10,000 shares of Common Stock and each other Non-Employee Director on such date
shall receive an option to purchase 5,000 shares of Common Stock.

      (b) The purchase price for the Common Stock subject to Stock Options shall
be the Market Price of the Common Stock on the date of grant.

                                       20
<PAGE>   3

      (c) Stock Options shall fully vest and become exercisable six months from
the date of grant. Vested Stock Options shall be exercisable at any time prior
to the expiration of 10 years from the date of grant, subject to Section 6(d) of
the Plan.

      (d) In the event service on the Board by a Participant terminates for any
reason, all of the Participant's Stock Options shall fully vest and become
immediately exercisable and will expire three years after the date of
termination regardless of their stated expiration dates. The rights of a
Participant in a Stock Option may be exercised by the Participant's guardian or
legal representative in the case of disability and by the Participant's estate
or a beneficiary designated by the Participant in the case of death.

      (e) The purchase price for the Common Stock subject to a Stock Option may
be paid (i) in cash or by check, (ii) in shares of Common Stock of the
Corporation including shares issued upon exercise of the Stock Option, (iii) by
a broker-assisted cashless exercise in accordance with Regulation T of the Board
of Governors of the Federal Reserve System through a brokerage firm approved by
the Committee, or (iv) by any combination of the foregoing methods. The value of
shares of Common Stock delivered in payment of the purchase price shall be their
Market Price as of the date of exercise.

      (f) Each Participant shall pay to the Corporation, or make arrangements
satisfactory to the Committee for the payment of, any federal, state or local
taxes of any kind required by law to be withheld with respect to the receipt of
shares of Common Stock pursuant to the exercise of a Stock Option. Such tax
obligations may be paid in whole or in part, but in no event in excess of the
amount necessary to satisfy the statutory minimum withholding amount due, in
shares of Common Stock, including shares issued upon exercise of the Stock
Option, valued at Market Price on the date of delivery.

      Section 7.  STOCKHOLDER RIGHTS

      Non-Employee Directors shall not be deemed for any purpose to be or have
rights as stockholders of the Corporation with respect to any shares of Common
Stock except as and when such shares are issued and then only from the date of
the certificate thereof. No adjustment shall be made for dividends,
distributions or other rights for which the record date precedes the date of
such stock certificate.

      Section 8.  CONTINUATION OF DIRECTOR OR OTHER STATUS

      Nothing in the Plan or in any instrument executed pursuant to the Plan or
any action taken pursuant to the Plan shall be construed as creating or
constituting evidence of any agreement or understanding, express or implied,
that the Corporation will retain a Non-Employee Director as a Director or in any
other capacity for any period of time or at a particular retainer or other rate
of compensation, as conferring upon any Participant any legal or other right to
continue as a Director or in any other capacity, or as limiting, interfering
with or otherwise affecting the provisions of the Corporation's charter, bylaws
or the Maryland General Corporation Law relating to the removal of Directors.

                                       21
<PAGE>   4

      Section 9.  COMPLIANCE WITH GOVERNMENT REGULATIONS

      Neither the Plan nor the Corporation shall be obligated to issue any
shares of Common Stock pursuant to the Plan at any time unless and until all
applicable requirements imposed by any federal and state securities and other
laws, rules, and regulations, by any regulatory agencies, or by any stock
exchanges upon which the Common Stock may be listed have been fully met. As a
condition precedent to any issuance of shares of Common Stock and delivery of
certificates evidencing such shares pursuant to the Plan, the Committee may
require a Participant to take any such action and to make any such covenants,
agreements and representations as the Committee, in its discretion deems
necessary or advisable to ensure compliance with such requirements. The
Corporation shall in no event be obligated to register the shares of Common
Stock issued or issuable under the Plan pursuant to the Securities Act of 1933,
as now or hereafter amended, or to qualify or register such shares under any
securities laws of any state upon their issuance under the Plan or at any time
thereafter, or to take any other action in order to cause the issuance and
delivery of such shares under the Plan or any subsequent offer, sale or other
transfer of such shares to comply with any such law, regulation or requirement.
Participants are responsible for complying with all applicable federal and state
securities and other laws, rules and regulations in connection with any offer,
sale or other transfer of the shares of Common Stock issued under the Plan or
any interest therein including, without limitation, compliance with the
registration requirements of the Securities Act of 1933 (unless an exemption
therefrom is available), or with the provisions of Rule 144 promulgated
thereunder, if available, or any successor provisions.

      Section 10.  TRANSFERABILITY OF RIGHTS

      Except as otherwise determined by the Committee, no Participant shall have
the right to assign any Stock Option or any other right or interest under the
Plan, contingent or otherwise, or to cause or permit any encumbrance, pledge or
charge of any nature to be imposed on any such Stock Option or any such right or
interest, other than by will or the laws of descent and distribution. Unless
otherwise determined by the Committee in accord with the provisions of the
immediately preceding sentence, Stock Options shall be exercisable during the
Participant's lifetime only by the Participant or the Participant's guardian or
legal representative.

      Section 11.  EFFECTIVE DATE OF PLAN

      The Plan is effective as of the date on which the Plan is approved by the
stockholders of the Corporation. Prior to such approval, Awards may be made
under the Plan expressly subject to such approval but any such Awards shall be
void and ineffective if the Plan is not approved by the stockholders.

      Section 12.  APPLICABILITY TO OTHER PLANS

      After and subject to stockholder approval of this Plan, no further awards
shall be granted under the Corporation's 1992 Non-Employee Director Equity Plan.
Outstanding awards under

                                       22
<PAGE>   5

the 1992 Non-Employee Director Equity Plan shall remain in effect pursuant to
the terms of the agreements governing such awards and shall continue to be
governed by the 1992 Non-Employee Director Equity Plan to the extent applicable.

      Section 13.  AMENDMENT AND TERMINATION OF THE PLAN

      The Committee may amend, suspend or terminate the Plan or any portion
thereof at any time as it determines appropriate, without further action by the
Corporation's stockholders except to the extent required by applicable law or by
any stock exchanges upon which the Common Stock may be listed. If not sooner
terminated by the Committee, the Plan shall terminate on January 1, 2010.
Termination of the Plan will not affect the rights and obligations arising under
Stock Options theretofore granted and then in effect.

      Section 14.  GOVERNING LAW

      The validity, construction and effect of the Plan, of written instruments
entered into pursuant to the Plan, and of any rules, regulations, determinations
or decisions made by the Committee relating to the Plan or such written
instruments, and the rights of any and all persons having or claiming to have
any interest therein or thereunder, shall be determined exclusively in
accordance with applicable federal laws and the laws of the State of Maryland,
without regard to its conflict of laws principles.

                                       23

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]