text: S T O C K O P T I O N P L A N S  8 
  
  The Company’s 1997 Stock Incentive Plan provides for the grant to key employees of incentive and nonqualified stock options, stock appreciation rights, 
  restricted stock and performance shares. In addition, under the 1997 Stock Incentive Plan, outside directors (directors who are not employees of the 
  Company or any subsidiary) receive automatic annual grants of nonqualified stock options to purchase 2,000 shares of common stock. Under the 1997 
  Stock Incentive Plan, 624,425 shares in the aggregate of common stock were reserved for grants. The purchase price of shares issued on the exercise of 
  incentive options must be at least equal to the fair market value of such shares on the date of grant. The purchase price for shares issued on the exercise 
  of nonqualified options and restricted and performance shares is fixed by the Compensation Committee of the Board of Directors. The options granted 
  become exercisable as determined by the Compensation Committee and expire no later than 10 years after the date of grant. 
  
  During 1994, the stockholders of the Company approved the adoption of the Company’s 1994 Key Employee Stock Incentive Plan, which provided for the 
  grant to key employees of incentive and nonqualified options to purchase shares of common stock of the Company. During 1998, the Company’s 
  stockholders approved the adoption of the Company’s 1998 Outside Directors Stock Option Plan which, as amended, provided for the automatic grant on 
  February 1, 1998 and February 1, 1999 of nonqualified stock options to the Company’s outside directors. Although no additional options may be granted 
  under the 1994 Key Employee Stock Incentive Plan or the 1998 Outside Directors Stock Option Plan, all outstanding options under those plans continue 
  to be governed by the terms and conditions of those plans and the existing option agreements for those grants. 