Document:

Filed by Automated Filing Services Inc. (604) 609-0244 - Tornado Gold International Corp - Exhibit 10.1

 FOR IMMEDIATE RELEASE

Tornado Gold Reaches New Joint Venture Agreement with Allied Nevada Gold on Two Properties.

RENO, NEVADA – February 8, 2008 - Tornado Gold International Corporation (OTC BB:TOGI.OB - News) (the "Company") is pleased to announce that a preliminary agreement has
been reached with Allied Nevada Gold whereby the Company will be relieved of its joint venture obligations respecting 13 properties under a letter agreement signed between the Company and Allied. Under the preliminary agreement, the Company will
continue to work with Allied in a joint venture on two of the most prospective properties, the Illipah and NT Green Properties for further exploration. These two properties join the Jack Creek Property and together constitute the three most
prospective properties in the Company’s portfolio. Tornado will concentrate its efforts on these three properties over the next year and expects to drill two of them before year’s end.

For further information please contact:

Tornado International Gold Corporation

Earl Abbott, President & CEO

Phone: 775-846-8398

  Email: earl.w.abbott@gmail.com

Safe Harbor Statement:

This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to that we expect to
drill two of our properties before year’s end. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to
differ materially include the uncertainty of the requirements demanded by environmental agencies, the Company’s ability to raise financing for operations, potential delays or obstacles in drilling and/or interpreting data, market fluctuations
and spot prices for gold, and the possibility that no commercial quantities of gold are found or recoverable. For more risk factors about our Company, readers should refer to risk disclosure in our most recent 10-K and Form 10-Q filed on Edgar.Exhibit 10.1

 

BEACON
ROOFING SUPPLY, INC.

 

2004
STOCK PLAN

 

As
Amended and Restated Effective October 22, 2007

 

 

Section 1.                                          Purpose.

 

The purpose of the Beacon Roofing Supply, Inc.
2004 Stock Plan (the “Plan”) is to attract and retain outstanding individuals
as Key Employees and Directors of Beacon Roofing Supply, Inc. (the “Company”)
and its Subsidiaries, to recognize the contributions made to the Company and
its Subsidiaries by Key Employees and Directors, and to provide such Key
Employees and Directors with additional incentive to expand and improve the
profits and achieve the objectives of the Company and its Subsidiaries, by
providing such Key Employees and Directors with the opportunity to acquire or
increase their proprietary interest in the Company through receipt of Awards of
Stock Options and Stock Awards.  The Plan was initially approved by
the stockholders of the Company and became effective on August 17,
2004.  The Plan is hereby amended and
restated, effective as of October 22, 2007. All references to the “Plan”
shall be to the Plan as amended and restated effective as of October 22,
2007, as described herein.

 

Section 2.                                          Definitions.

 

As used in the Plan, the following terms shall have
the meanings set forth below:

 

2.1           “Award” means any award or benefit
granted under the Plan, which shall be either a Stock Option or a Stock Award.

 

2.2           “Award Agreement” means, as
applicable, a Stock Option Agreement, or Stock Award Agreement evidencing an
Award granted under the Plan.

 

2.3           “Board” means the Board of
Directors of the Company.

 

2.4           “Change in Control” has the
meaning set forth in Section 7.2 of the Plan.

 

2.5           “Code” means the Internal Revenue
Code of 1986, as amended from time to time.

 

2.6           “Committee” means the Compensation
Committee of the Board or such other committee as may be designated by the
Board from time to time to administer the Plan.

 

2.7           “Common Stock” means the Common
Stock, par value $.01 per share, of the Company.

 

2.8           “Company” means Beacon Roofing
Supply, Inc., a Delaware corporation.

 

2.9           “Director” means a director of the
Company.

 

2.10         “Exchange Act” means the
Securities Exchange Act of 1934, as amended from time to time.

 

2.11         “Fair Market Value” means the
closing price of the Common Stock on the NASDAQ Global Select Market (as
reported in The Wall Street Journal)

 

2.12         “Incentive Stock Option” or “ISO”
means a Stock Option granted under Section 5 of the Plan that meets the
requirements of Section 422(b) of the Code or any successor
provision.

 

2.13         “Key Employee” means an employee
of the Company or any Subsidiary selected to participate in the Plan in
accordance with Section 3.  A Key
Employee may also include a person who is granted an Award (other than an
Incentive Stock Option) in connection with the hiring of the person prior to
the date the person becomes an employee of the Company or any Subsidiary,
provided that such Award shall not vest prior to the commencement of
employment.

 

 

 

2.14         “Non-Qualified Stock Option” or “NSO”
means a Stock Option granted under Section 5 of the Plan that is not an
Incentive Stock Option.

 

2.15         “Participant” means a Key Employee
or Director selected to receive an Award under the Plan.

 

2.16         “Plan” means the Beacon Roofing
Supply, Inc. 2004 Stock Plan.

 

2.17         “Stock Award” means a grant of shares
of Common Stock under Section 6 of the Plan.

 

2.18         “Stock Option” means an Incentive
Stock Option or a Non-Qualified Stock Option granted under Section 5 of
the Plan.

 

2.19         “Subsidiary” means an entity of
which the Company is the direct or indirect beneficial owner of not less than
50% of all issued and outstanding equity interest of such entity.

 

Section 3.                                          Administration.

 

3.1           The Board.

 

The Plan shall be administered by the Board, except
that the Board may delegate administration to the Committee to the extent that
the Committee is comprised of at least two members of the Board who satisfy the
“non-employee director” definition set forth in Rule 16b-3 under the
Exchange Act and the “outside director” definition under Section 162(m) of
the Code and the regulations thereunder. 
For purposes of the Plan, the term “Board” shall refer to the Board or,
to the extent such authority has been delegated to the Committee, the Committee
(except with respect to actions taken under Section 11.1, which will
require action of the full Board and which may not be delegated.)

 

3.2           Authority of the Board.

 

(a)           The Board, in its sole discretion, shall determine the
Key Employees and Directors to whom, and the time or times at which Awards will
be granted, the form and amount of each Award, the expiration date of each
Award, the time or times within which the Awards may be exercised, the
cancellation of the Awards and the other limitations, restrictions, terms and
conditions applicable to the grant of the Awards.  The terms and conditions of the Awards need
not be the same with respect to each Participant or with respect to each Award.

 

(b)           The Board may delegate its authority to grant Awards
to Key Employees and to determine the terms and conditions thereof to such
officer of the Company as it may determine in its discretion, on such terms and
conditions as it may impose, except with respect to Awards to officers subject
to Section 16 of the Exchange Act or officers who are or may be “covered
employees” as defined in Section 162(m) of the Code, or to the extent
prohibited by applicable law, regulation or rule of a stock exchange on
which the Common Stock is listed.

 

(c)           The Board may, subject to the provisions of the Plan,
establish such rules and regulations as it deems necessary or advisable
for the proper administration of the Plan, and may make determinations and may
take such other action in connection with or in relation to the Plan as it
deems necessary or advisable.  Each
determination or other action made or taken pursuant to the Plan, including
interpretation of the Plan and the specific terms and conditions of the Awards
granted hereunder, shall be final and conclusive for all purposes and upon all
persons.

 

(d)           No member of the Board or the Committee shall be
liable for any action taken or determination made hereunder in good faith.  Service on the Committee shall constitute
service as a Director so that the members of the Committee shall be entitled to
indemnification and reimbursement as Directors of the Company pursuant to the
Company’s Certificate of Incorporation and By-Laws.

 

3.3           Award Agreements.

 

Each Award shall be evidenced by a written Award
Agreement specifying the terms and conditions of the Award.  In the sole discretion of the Board, the
Award Agreement may condition the grant of an Award upon the Participant’s
entering into one or more of the following agreements with the Company:  (a) an agreement not to compete with the
Company and its Subsidiaries which shall become effective as of the date of the
grant of the Award and remain in effect for a specified period of time
following termination of the Participant’s employment with the Company; (b) an
agreement to cancel any employment agreement, fringe benefit or compensation
arrangement in effect between the Company and the Participant; and (c) an
agreement to retain the confidentiality of certain information.  Such agreements may contain such other terms
and conditions as the Board shall determine. 
If the Participant shall fail to enter into any such agreement at the
request of the Board, then the Award granted or to be granted to such
Participant shall be forfeited and cancelled.

 

 

 

Section 4.                                          Shares of Common Stock Subject to Plan.

 

4.1           Total Number of Shares.

 

The total number of shares of Common Stock that may be
issued under the Plan shall be 5,050,000.  Such shares may be either authorized but
unissued shares or treasury shares, and shall be adjusted in accordance with
the provisions of Section 4.3 of the Plan. 
The number of shares of Common Stock delivered by a Participant or
withheld by the Company on behalf of any such Participant as full or partial
payment of an Award, including the exercise price of a Stock Option or of any
required withholding taxes, shall once again be available for issuance pursuant
to subsequent Awards, and shall not count towards the aggregate number of
shares of Common Stock that may be issued under the Plan.  Any shares of Common Stock subject to an
Award may thereafter be available for issuance pursuant to subsequent Awards,
and shall not count towards the aggregate number of shares of Common Stock that
may be issued under the Plan, if there is a lapse, forfeiture, expiration,
termination or cancellation of any such prior Award for any reason (including
for reasons described in Section 3.3), or if shares of Common Stock are
issued under such Award and thereafter are reacquired by the Company pursuant
to rights reserved by the Company upon issuance thereof.

 

4.2           Shares Under Awards.

 

Of the
5,050,000 shares of Common Stock authorized for issuance under the Plan
pursuant to Section 4.1:

 

(a)           The maximum number of shares of Common Stock as to
which a Key Employee may receive Stock Options in any calendar year is 500,000
except that the maximum number of shares of Common Stock as to which a Key
Employee may receive Stock Options in the calendar year in which such Key
Employee begins employment with the Company or its Subsidiaries is 1,000,000.

 

(b)           The maximum number of shares of Common Stock that may
be subject to Incentive Stock Options is 5,050,000.

 

(c)           The maximum number of shares of Common Stock that may
be used for Stock Awards is 5,050,000.

 

The numbers of shares
described herein shall be as adjusted in accordance with Section 4.3 of
the Plan.

 

4.3           Adjustment.

 

In the event of any reorganization, recapitalization,
stock split, stock distribution, merger, consolidation, split-up, spin-off,
combination, subdivision, consolidation or exchange of shares, any change in
the capital structure of the Company or any similar corporate transaction, the
Board shall make such adjustments as are necessary and appropriate to preserve
the benefits or intended benefits of the Plan and Awards granted under the
Plan.  Such adjustments may include: (a) adjustment
in the number and kind of shares reserved for issuance under the Plan; (b) adjustment
in the number and kind of shares covered by outstanding Awards; (c) adjustment
in the exercise price of outstanding Stock Options or the price of other Awards
under the Plan; (d) adjustments to any of the shares limitations set forth
in Section 4.1 or 4.2 of the Plan; and (e) any other changes that the
Board determines to be equitable under the circumstances

 

Section 5.                                          Grants of Stock Options.

 

5.1           Grant.

 

Subject to the terms of the Plan, the Board may from
time to time grant Stock Options to Participants.  Unless otherwise expressly provided at the
time of the grant, Stock Options granted under the Plan to Key Employees will
be ISOs.  Stock Options granted under the
Plan to Directors who are not employees of the Company or any Subsidiary will
be NSOs.

 

5.2           Stock Option Agreement.

 

The grant of each Stock Option shall be evidenced by a
written Stock Option Agreement specifying the type of Stock Option granted, the
exercise period, the exercise price, the terms for payment of the exercise
price, the expiration date of the Stock Option, the number of shares of Common
Stock to be subject to each Stock Option and such other terms and conditions
established by the Board, in its sole discretion, not inconsistent with the
Plan.

 

5.3           Exercise Price and Exercise Period.

 

With respect to each Stock Option granted to a
Participant:

 

(a)           The per share exercise price of each Stock Option
shall be the Fair Market Value of the Common Stock subject to the Stock Option
on the date on which the Stock Option is granted.

 

 

 

(b)           Each Stock Option shall become exercisable as provided
in the Stock Option Agreement; provided that the Board shall have the
discretion to accelerate the date as of which any Stock Option shall become
exercisable in the event of the Participant’s termination of employment with
the Company, or service on the Board, without cause (as determined by the Board
in its sole discretion).

 

(c)           Except as provided in the Stock Option Agreement, each
Stock Option shall expire, and all rights to purchase shares of Common Stock
thereunder shall expire, on the date ten years after the date of grant.

 

5.4           Required Terms and Conditions of ISOs.

 

In addition to the foregoing, each ISO granted to a
Key Employee shall be subject to the following specific rules:

 

(a)           The aggregate Fair Market Value (determined with
respect to each ISO at the time such Option is granted) of the shares of Common
Stock with respect to which ISOs are exercisable for the first time by a Key
Employee during any calendar year (under all incentive stock option plans of
the Company and its Subsidiaries) shall not exceed $100,000.  If the aggregate Fair Market Value
(determined at the time of grant) of the Common Stock subject to an ISO which
first becomes exercisable in any calendar year exceeds the limitation of this Section 5.4(a),
so much of the ISO that does not exceed the applicable dollar limit shall be an
ISO and the remainder shall be a NSO; but in all other respects, the original
Stock Option Agreement shall remain in full force and effect.

 

(b)           Notwithstanding anything herein to the contrary, if an
ISO is granted to a Key Employee who owns stock possessing more than 10% of the
total combined voting power of all classes of stock of the Company (or its
parent or subsidiaries within the meaning of Section 422(b)(6) of the
Code): (i) the purchase price of each share of Common Stock subject to the
ISO shall be not less than 110% of the Fair Market Value of the Common Stock on
the date the ISO is granted; and (ii) the ISO shall expire, and all rights
to purchase shares of Common Stock thereunder shall expire, no later than the
fifth anniversary of the date the ISO was granted.

 

(c)           No ISOs shall be granted under the Plan after ten
years from the earlier of the date the Plan is adopted or approved by
stockholders of the Company.

 

5.5           Exercise of Stock Options.

 

(a)           A Participant entitled to exercise a Stock Option may
do so by delivering written notice to that effect specifying the number of
shares of Common Stock with respect to which the Stock Option is being
exercised and any other information the Board may prescribe.  All notices or requests provided for herein
shall be delivered to the Secretary of the Company.

 

(b)           The Board in its sole discretion may make available
one or more of the following alternatives for the payment of the Stock Option
exercise price:

 

(i)            in cash;

 

(ii)           in cash received from a broker-dealer to whom the
Participant has submitted an exercise notice together with irrevocable instructions
to deliver promptly to the Company the amount of sales proceeds from the sale
of the shares subject to the Stock Option to pay the exercise price;

 

(iii)          by delivering previously acquired shares of Common
Stock that are acceptable to the Board and that have an aggregate Fair Market
Value on the date of exercise equal to the Stock Option exercise price; or

 

(iv)          by
certifying to ownership by attestation of such previously acquired shares of
Common Stock.

 

The
Board shall have the sole discretion to establish the terms and conditions
applicable to any alternative made available for payment of the Stock Option
exercise price.

 

(c)           The Company shall issue, in the name of the
Participant, stock certificates representing the total number of shares of Common
Stock issuable pursuant to the exercise of any Stock Option as soon as
reasonably practicable after such exercise; provided that any shares of Common
Stock purchased by a Participant through a broker-dealer pursuant to Section 5.5(b)(ii) or
Section 8(b) shall be delivered to such broker-dealer in accordance
with 12 C.F.R. §220.3(e)(4) or other applicable provision of law.

 

 

 

Section 6.                                          Stock Awards.

 

6.1           Grant.

 

The Board may, in its discretion, (a) grant
shares of Common Stock under the Plan to any Participant without consideration
from such Participant or (b) sell shares of Common Stock under the Plan to
any Participant for such amount of cash, Common Stock or other consideration as
the Board deems appropriate.

 

6.2           Stock Award Agreement.

 

Each share of Common Stock granted or sold hereunder
shall be subject to such restrictions, conditions and other terms as the Board
may determine at the time of grant or sale, the general provisions of the Plan,
the restrictions, terms and conditions of the related Stock Award Agreement,
and the following specific rules:

 

(a)           Shares of Common Stock issued to a Participant under
the Plan shall be evidenced by a Stock Award Agreement, which shall specify
whether the shares of Common Stock are granted or sold to the Participant and
such other provisions, not inconsistent with the terms and conditions of the
Plan, as the Board shall determine.

 

(b)           The restrictions to which the shares of Common Stock
awarded hereunder are subject shall lapse as provided in Stock Award Agreement;
provided that the Board shall have the discretion to accelerate the date as of
which the restrictions lapse with respect to any Award held by a Participant in
the event of the Participant’s termination of employment with the Company, or
service on the Board, without cause (as determined by the Board in its sole
discretion).

 

(c)           The Board may, in its discretion, establish as
restrictions on the shares of Common Stock performance goals that qualify the
Stock Award as “performance-based compensation” within the meaning of Section 162(m) of
the Code.  Performance goals may be based
on one or more business criteria, including, but not limited to: (i) return
on equity; (ii) earnings or earnings per share; (iii) Common Stock
price; (iv) return on assets; (v) return on investment; (vi) cash
flow; (vii) net income; (viii) expense management; or (ix) revenue
growth. Performance goals may be absolute in their terms or measured against or
in relationship to the performance of other companies or indices selected by
the Board.  In addition, performance
goals may be adjusted for any events or occurrences (including acquisition
expenses, extraordinary charges, losses from discontinued operations,
restatements and accounting charges and restructuring expenses), as may be
determined by the Board.  With respect to
each performance period, the Board shall establish such performance goals
relating to one or more of the business criteria identified above, and shall
establish targets for Participants for achievement of performance goals.  Following the completion of each performance
period, the Board shall determine the extent to which performance goals for
that performance period have been achieved and the related performance-based restrictions
shall lapse in accordance with the terms of the applicable Stock Award
Agreement.

 

(d)           The Company shall issue, in the name of the
Participant, stock certificates representing the total number of shares of
Common Stock granted or sold to the Participant, as soon as may be reasonably practicable
after such grant or sale, which shall be held by the Secretary of the Company
until such time as the Common Stock is forfeited, resold to the Company, or the
restrictions lapse.  Notwithstanding the
foregoing, the Company, in lieu of issuing stock certificates, may reflect the
issuance of shares of Common Stock to a Participant on a non—certificated
basis, with the ownership of such shares by the Participant evidenced solely by
book entry in the records of the Company’s transfer agent; provided, however
that following the lapse of all restrictions with respect to the shares granted
or sold to a Participant, the Company, upon the written request of the
Participant, shall issue, in the name of the Participant, stock certificates
representing such shares.

 

(e)           Subject to the provisions of subsection (b) hereof
and the restrictions set forth in the related Stock Award Agreement, the
Participant receiving a grant of or purchasing Common Stock shall thereupon be
a stockholder with respect to all of the shares represented by such certificate
or certificates and shall have the rights of a stockholder with respect to such
shares, including the right to vote such shares and to receive dividends and
other distributions paid with respect to such shares.

 

Section 7.                                          Change in Control.

 

7.1           Effect of Change in Control.

 

(a)           Notwithstanding any of the provisions of the Plan or
any outstanding Award Agreement, upon a Change in Control of the Company (as
defined in Section 7.2):  (i) all
outstanding Awards shall become fully exercisable; (ii) all restrictions
applicable to all Awards shall terminate or lapse; and (iii) performance
goals applicable to any Stock Awards shall be deemed satisfied at the highest
target, as applicable, in order that Participants may fully realize the
benefits thereunder.

 

(b)           In addition to the Board’s authority set forth in Section 3,
upon such Change in Control of the Company, the Board is authorized, and has
sole discretion, as to any Award, either at the time such Award is granted
hereunder or any time thereafter, to take any one or more of the following
actions:  (i) provide for the
purchase of any outstanding Stock Option, 
for an amount of cash equal to the difference between the exercise price
and the then Fair Market Value of the Common Stock covered thereby had such
Stock Option been currently exercisable; (ii) make such adjustment to any
such Award then outstanding as the Board deems appropriate to reflect such
Change in Control; and (iii) cause any such Award then outstanding to be
assumed, by the acquiring or surviving corporation, after such Change in
Control.

 

 

 

7.2           Definition of Change in Control.

 

“Change in Control” shall mean the occurrence, at any
time during the specified term of an Award granted under the Plan, of any of
the following events:

 

(a)           Any individual, partnership, firm, corporation,
association, trust, unincorporated organization or other entity (other than the
Company or a trustee or other fiduciary holding securities under an employee
benefit plan of the Company), or any syndicate or group deemed to be a person
under Section 14(d)(2) of the Exchange Act, is or becomes the “beneficial
owner” (as defined in Rule 13d-3 of the General Rules and Regulations
under the Exchange Act), directly or indirectly, of securities of the Company
representing 25% or more of the combined voting power of the Company’s then
outstanding securities entitled to vote generally in the election of directors;

 

(b)           The Company is party to a merger, consolidation,
reorganization or other similar transaction with another corporation or other
legal person unless, following such transaction, more than 50% of the combined
voting power of the outstanding securities of the surviving, resulting or
acquiring corporation or person or its parent entity entitled to vote generally
in the election of directors (or persons performing similar functions) is then
beneficially owned, directly or indirectly, by all or substantially all of the
individuals and entities who were the beneficial owners of the Company’s
outstanding securities entitled to vote generally in the election of directors
immediately prior to such transaction, in substantially the same proportions as
their ownership, immediately prior to such transaction, of the Company’s
outstanding securities entitled to vote generally in the election of directors;

 

(c)           The Company sells all or substantially all of its
business and/or assets to another corporation or other legal person unless,
following such sale, more than 50% of the combined voting power of the
outstanding securities of the acquiring corporation or person or its parent entity
entitled to vote generally in the election of directors (or persons performing
similar functions) is then beneficially owned, directly or indirectly, by all
or substantially all of the individuals and entities who were the beneficial
owners of the Company’s outstanding securities entitled to vote generally in
the election of directors immediately prior to such sale, in substantially the
same proportions as their ownership, immediately prior to such sale, of the
Company’s outstanding securities entitled to vote generally in the election of
directors; or

 

(d)           During any period of two consecutive years or less
(not including any period prior to the approval of the Plan by the Board),
individuals who at the beginning of such period constituted the Board (and any
new Directors, whose appointment or election by the Board or nomination for
election by the Company’s stockholders was approved by a vote of at least
two-thirds of the Directors then still in office who either were Directors at
the beginning of the period or whose appointment, election or nomination for
election was so approved) cease for any reason to constitute a majority of the
Board.

 

Section 8.                                          Payment of Taxes.

 

In connection with any Award, and as a condition to
the issuance or delivery of any shares of Common Stock to the Participant in
connection therewith, the Company may require the Participant to pay the
Company an amount equal to the minimum amount of the tax the Company or any
Subsidiary may be required to withhold to obtain a deduction for federal, state
or local income tax purposes as a result of such Award or to comply with
applicable law.  The Board in its sole
discretion may make available one or more of the following alternatives for the
payment of such taxes:

 

(a)           in cash;

 

(b)           in cash received from a broker-dealer to whom the
Participant has submitted notice together with irrevocable instructions to
deliver promptly to the Company the amount of sales proceeds from the sale of
the shares subject to the Award to pay the withholding taxes;

 

(c)           by directing the Company to withhold such number of
shares of Common Stock otherwise issuable in connection with the Award having
an aggregate Fair Market Value equal to the minimum amount of tax required to
be withheld;

 

(d)           by delivering previously acquired shares of Common
Stock of the Company that are acceptable to the Board that have an aggregate
Fair Market Value equal to the amount required to be withheld; or

 

(e)           by certifying to ownership by attestation of such
previously acquired shares of Common Stock.

 

The
Board shall have the sole discretion to establish the terms and conditions
applicable to any alternative made available for payment of the required
withholding taxes.

 

Section 9.                                          Postponement.

 

The Board may postpone any grant or settlement of an
Award or exercise of a Stock Option for such time as the Board in its sole
discretion may deem necessary in order to permit the Company:

 

 

 

(a)           to effect, amend or maintain any necessary
registration of the Plan or the shares of Common Stock issuable pursuant to an
Award, including  upon the exercise of an
Option, under the Securities Act of 1933, as amended, or the securities laws of
any applicable jurisdiction;

 

(b)           to permit any action to be taken in order to (i) list
such shares of Common Stock on a stock exchange if shares of Common Stock are
then listed on such exchange or (ii) comply with restrictions or
regulations incident to the maintenance of a public market for its shares of
Common Stock, including any rules or regulations of any stock exchange on
which the shares of Common Stock are listed; or

 

(c)           to determine that such shares of Common Stock and the
Plan are exempt from such registration or that no action of the kind referred
to in (b)(ii) above needs to be taken; and the Company shall not be
obligated by virtue of any terms and conditions of any Award or any provision
of the Plan to sell or issue shares of Common Stock in violation of the
Securities Act of 1933 or the law of any government having jurisdiction
thereof.

 

Any such postponement
shall not extend the term of an Award and neither the Company nor its Directors
or officers shall have any obligation or liability to a Participant, the
Participant’s successor or any other person with respect to any shares of
Common Stock as to which the Award shall lapse because of such postponement.

 

Section 10.                                   Nontransferability.

 

Awards granted under the Plan, and any rights and
privileges pertaining thereto, may not be transferred, assigned, pledged or
hypothecated in any manner, or be subject to execution, attachment or similar
process, by operation of law or otherwise, other than:

 

(a)           by will or by the laws of descent and distribution;

 

(b)           pursuant to the terms of a qualified domestic
relations order to which the Participant is a party that meets the requirements
of any relevant provisions of the Code; or

 

(c)           as permitted by the Board with respect to a NSO
transferable by the Participant during his lifetime.

 

In each case, the terms
and conditions applicable to the transferability of the Award shall be
established by the Board.

 

Section 11.                                   Termination or Amendment of Plan and
Award Agreements.

 

11.1         Termination or Amendment of Plan.

 

(a)           Except as described in (b) below, the Board may
terminate, suspend, or amend the Plan, in whole or in part, from time to time,
without the approval of the stockholders of the Company, unless such approval
is required by applicable law, regulation or rule of any stock exchange on
which the shares of Common Stock are listed. 
No amendment or termination of the Plan shall adversely affect the right
of any Participant under any outstanding Award in any material way without the
written consent of the Participant, unless such amendment or termination is
required by applicable law, regulation or rule of any stock exchange on
which the shares of Common Stock are listed. 
Subject to the foregoing, the Board may correct any defect or supply an
omission or reconcile any inconsistency in the Plan or in any Award granted
hereunder in the manner and to the extent it shall deem desirable, in its sole
discretion, to effectuate the Plan.

 

(b)           Notwithstanding the foregoing, there shall be no
amendment to the Plan or any outstanding Stock Option Agreement that results in
the repricing of Stock Options.

 

(c)           The Board shall have the authority to amend the Plan
to the extent necessary or appropriate to comply with applicable law,
regulation or accounting rules in order to permit Participants who are
located outside of the United States to participate in the Plan.

 

11.2         Amendment of Award Agreements.

 

The Board shall have the authority to amend any Award
Agreement at any time; provided however, that no such amendment shall adversely
affect the right of any Participant under any outstanding Award Agreement in
any material way without the written consent of the Participant, unless such
amendment is required by applicable law, regulation or rule of any stock
exchange on which the shares of Common Stock are listed.

 

 

 

Section 12.                                   No Contract of Employment.

 

Neither the adoption of the Plan nor the grant of any
Award under the Plan shall be deemed to obligate the Company or any Subsidiary
to continue the employment of any Participant for any particular period, nor
shall the granting of an Award constitute a request or consent to postpone the
retirement date of any Participant.

 

Section 13.                                   Applicable Law.

 

All questions pertaining to the validity, construction
and administration of the Plan and all Awards granted under the Plan shall be
determined in conformity with the laws of the State of Delaware, without regard
to the conflict of law provisions of any state, and, in the case of Incentive
Stock Options, Section 422 of the Code and regulations issued thereunder.

 

Section 14.                                   Effective Date and Term of Plan.

 

14.1         Effective Date.

 

(a)           The Plan as amended and restated has been
adopted by the Board and is effective as of October 22, 2007.

 

14.2         Term of Plan.

 

Notwithstanding anything
to the contrary contained herein, no Awards shall be granted on or after the 10th anniversary of
the Plan’s effective date as determined in Section 14.1 above.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00136-of-00352.parquet"}]]