MERISTAR HOSPITALITY CORP
EXHIBIT 10.16
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>3
<FILENAME>w84677exv10w16.htm
<DESCRIPTION>EXHIBIT 10.16
<TEXT>
<HTML>
<HEAD>
<TITLE>exv10w16</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<p align="right">EXHIBIT 10.16

<p align="center">SEPARATION AGREEMENT AND GENERAL RELEASE

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John Emery for himself, his spouse and anyone acting on his behalf, and
MeriStar Hospitality Corporation (including MeriStar Hospitality
Operating Partnership, L.P.) and any and all respective predecessors,
successors, franchisors, lessors, owners, assigns, present or past
affiliates (but NOT MeriStar Management Company, LLC or Interstate
Hotels &amp; Resorts, Inc.) present or past wholly or partially owned,
direct or indirect subsidiaries, any persons or entities which all
present or in the past directly or indirectly owns or owned all or
any part of their equity interest (either as a member, shareholder or
otherwise) and any and all of any of the foregoing present or past
officers, directors, employees, agents, attorneys or consultants
(&#147;MeriStar&#148;) enter into this Separation Agreement and General Release
(the &#147;Agreement&#148;);

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Mr. Emery and MeriStar
entered into an Employment Agreement dated April 1, 2000, and amended
on March 26, 2002 (&#147;Employment Agreement&#148;);

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, it is the mutual desire of
Mr. Emery and MeriStar to terminate Mr. Emery&#146;s employment with
MeriStar without cause to be effective on November 1, 2002, and that
the parties intend to terminate such Employment Agreement in
accordance with the terms of this Agreement;

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, Mr. Emery and MeriStar
desire fully and finally to resolve and settle all claims between
them arising out of Mr. Emery&#146;s employment and separation from
employment with MeriStar, and all other actions and claims Mr. Emery
has or may have arising from or in any way related to the employment
relationship and separation from employment with MeriStar;

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW THEREFORE, in consideration for
the mutual promises contained herein, the parties agree to the
following terms:

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Emery waives and releases
MeriStar, and any of its past, present or future agents, parents,
subsidiaries, principals, franchisors, owners, lessors, officers,
directors, employees, affiliates (but NOT MeriStar Management
Company, LLC or Interstate Hotels &amp; Resorts, Inc.), successors and
assigns from any and all legal claims of any type to date arising
from his employment or separation of employment from MeriStar and
covenants not to institute any legal proceeding based on any claim or
cause of action of any type he may have against MeriStar, and any of
its past, present or future agents, parents, subsidiaries,
principals, franchisors, owners, lessors, officers, directors,
employees, affiliates, successors and assigns, directors managers or
employees. This includes but is not limited to any and all claims
which could be brought under the common law (such as defamation,
breach of contract including the Employment Agreement, emotional
distress or wrongful termination) or pursuant to federal, state or
local equal employment statutes including Title VII of the Civil
Rights Act of 1964, as amended; the Employee Retirement Income
Security Act; and the Age Discrimination in Employment Act. Excluded
from this release is any right or claim that cannot be waived by law.
Mr. Emery is waiving, however, any right to monetary recovery should
any local, state or federal agency pursue any claims on his behalf.
Nothing in this paragraph shall be construed to waive any party&#146;s
right to enforce any provision of this Agreement. Notwithstanding
this paragraph,





<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<p align="center">-2-

<P>Sections 3(h) and 10(f) of Mr.&nbsp;Emery&#146;s Employment Agreement shall
remain in full force and effect following the termination of the
Employment Agreement and execution of this Agreement.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;MeriStar hereby forever releases
and discharges Mr.&nbsp;Emery, his heirs, representatives, agents,
successors and assigns from all manner of actions or causes of
action, suits, debts, sums of money, accounts, contracts including
the Employment Agreement, controversies, promises, damages,
judgments, executions, liabilities, claims or demands of any kind or
nature whatsoever, whether in law or in equity, or both, which it
had, now has, or which it may have had against Mr.&nbsp;Emery, by reason
of any matter or cause whatsoever prior to the date of this
Agreement; provided, however, that nothing in this paragraph shall be
construed to waive any party&#146;s right to
enforce any provision of this Agreement.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;Mr.&nbsp;Emery agrees that he has
been paid for all hours worked, not suffered any on-the-job injury
for which he has not already filed a claim, and has received all of the
vacation pay he was owed.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;MeriStar agrees to pay Mr.&nbsp;Emery
a lump sum payment of two (2) times Mr. Emery&#146;s base salary ($230,000) and
bonus for year 2001 ($0), totaling Four hundred and sixty thousand
dollars ($460,000), less applicable taxes and withholdings. This
payment shall be paid according to the following schedule: One
hundred fifty-three thousand and three hundred thirty-three dollars
($153,333), less applicable taxes and withholdings, shall be made on
January 20, 2003; three hundred and six thousand six hundred
sixty-six dollars ($306,666), less applicable taxes and withholdings,
shall be made on April 4, 2003.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;MeriStar agrees to pay Mr.&nbsp;Emery a lump sum payment of two hundred and fifty thousand dollars
($250,000), less applicable taxes and withholdings. $83,333 of this
payment shall be made January 20, 2003 and $166,666 of this payment
shall be made on April 4, 2003. Mr.&nbsp;Emery acknowledges that this
payment constitutes consideration to which he is not otherwise
entitled and, in and of itself, constitutes valid consideration for the promises made by him
in this Agreement.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;MeriStar agrees that (a)&nbsp;all
35,168 unvested restricted shares of MeriStar Hospitality Corporation
common stock held by Mr.&nbsp;Emery shall vest immediately and
(b)&nbsp;Mr.&nbsp;Emery holds 237,500 Profits-Only Operating Partnership Units
(&#147;POPs&#148;) all of which have either vested prior to the date of this
agreement or vest in connection with the execution of this agreement.
MeriStar acknowledges that no further contractual restrictions exist
on any common stock or POPs held by Mr.&nbsp;Emery.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On November&nbsp;18, 2002, subject to
federal and state tax withholding requirements, the Company agrees to
acquire from Mr.&nbsp;Emery 187,500 POPs in exchange for (a) 50,000 common
shares issued under the Company&#146;s Incentive Plan which will
immediately fully vest
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="center">-3-

<P>and (b) 137,500 common shares of the Company (the &#147;Restricted
Shares&#148;) which may not be sold by Mr.&nbsp;Emery prior to
November&nbsp;19,
2003 unless the Company is first given the right to purchase (the
&#147;Right of First Refusal&#148;) such shares at the price of $0.01 per
share. The certificate for the Restricted Shares issued on November
&nbsp;18, 2002, will contain the legend listed on Exhibit&nbsp;A to
this
Agreement. The Right of First Refusal will terminate at 12:01&nbsp;am on
November 19, 2003, and the Company shall make all reasonable efforts
to deliver an unlegended certificate representing the Restricted
Shares to Mr.&nbsp;Emery on or before November&nbsp;20, 2003.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  On January&nbsp;6, 2003, subject to
federal and state tax withholding requirements, the Company agrees to
acquire from Mr.&nbsp;Emery 50,000 POPs in exchange for (a)&nbsp;50,000 common
shares issued under the Company&#146;s Incentive Plan which will
immediately fully vest.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  MeriStar also agrees that Mr.&nbsp;
Emery&#146;s options to purchase 269,064 shares of MeriStar Hospitality
are hereby fully vested and are exercisable through the tenth (10th)
anniversary date that each option award was granted. The schedule of
these options is attached as Exhibit&nbsp;B to this Agreement.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.  If other senior officers of
MeriStar receive bonus payments in 2002, then MeriStar agrees to pay
Mr.&nbsp;Emery a pro-rated portion (9/12th) of such bonus amount, less
applicable taxes and withholdings. Such payment shall be made no
later than April&nbsp;15, 2003.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.  MeriStar agrees to pay monthly
lease payments on Mr.&nbsp;Emery&#146;s automobile lease for the remainder of
the term, up through April 2003. Mr.&nbsp;Emery agrees to reimburse the
Company for any lease payments made from November&nbsp;1, 2002 through
April 2003.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.  The parties agree to keep the
terms of this Agreement confidential and not to disclose the terms to
any person (other than immediate family, MeriStar management with a
need to know, legal counsel, and financial and tax advisors) without
express written consent from all parties to the Agreement.
Notwithstanding the provisions of this paragraph, it will not be a
breach of this Settlement Agreement and General Release for any party
to submit or reveal the terms hereof when required by any court or
administrative agency asserting jurisdiction over the instant
settlement, or related matters.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;(a)&nbsp;&nbsp;Mr.&nbsp;Emery understands and
acknowledges that MeriStar and its subsidiaries or affiliated
ventures (&#147;Company Affiliates&#148;) own and have developed and compiled
certain Confidential Information, and that during the course of his
rendering services to MeriStar, Confidential Information was
disclosed to him by the Company Affiliates. Mr.&nbsp;Emery agrees that,
for a period of three years up through November&nbsp;1, 2005, he will not
use or disclose, furnish or make accessible to anyone, directly or
indirectly, any Confidential Information of the Company Affiliates.
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<p align="center">-4-

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As used herein, the term
&#147;Confidential Information&#148; means any trade secrets confidential or
proprietary information, or other knowledge, know-how, information,
documents or materials, owned, developed or possessed by a Company
Affiliate pertaining to its business the confidentiality of which
such company takes reasonable measures to protect, including, but not
limited to, trade secrets, techniques, know-how (including designs,
plans, procedures, processes and research records), software,
computer programs, innovations, discoveries, improvements, research,
developments, test results, reports, specifications, data, formats,
marketing data and business plans and strategies, agreements and
other forms of documents, expansion plans, budgets, projections, and
salary, staffing and employment information. Notwithstanding the foregoing,
Confidential Information shall not in any event include information
which (i)&nbsp;was generally known or generally available to the public
prior to its disclosure to Mr.&nbsp;Emery, (ii)&nbsp;becomes generally known or
generally available to the public subsequent to its disclosure to Mr.&nbsp;
Emery through no wrongful act of Mr.&nbsp;Emery, (iii)&nbsp;is or becomes
available to Mr.&nbsp;Emery from sources other than the Company Affiliates
which sources are not known to Mr.&nbsp;Emery to be under any duty of
confidentiality with respect thereto or (iv)&nbsp;Mr.&nbsp;Emery is required to
disclose by applicable law or regulation or by order of any court or
federal, state or local regulatory or administrative body (provided
that Mr.&nbsp;Emery provides MeriStar with prior notice of the
contemplated disclosure and reasonably cooperates with MeriStar, at
MeriStar&#146;s sole expense, in seeking a protective order or other
appropriate protection of such information).

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Mr.&nbsp;Emery agrees that he will
not reveal or disclose, sell, use, lecture upon, or publish any such
Confidential Information or authorize anyone else to do so at any
time subsequent to his employment with MeriStar. Mr.&nbsp;Emery agrees to
return to MeriStar immediately all documents, files, lists and other
information, whether in hard copy or machine readable form which
relate or refer in any way to MeriStar's business, its shareholders,
or employees, and any future use of same by Mr.&nbsp;Emery is prohibited.
Failure to comply with this paragraph will constitute a material
breach of the Agreement. Nothing in this paragraph will prohibit Mr.&nbsp;
Emery from entering into future contracts with MeriStar or its
related entities.

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Paragraphs 10(a)(b) and (c)
above will not apply to Mr.&nbsp;Emery so long as Mr.&nbsp;Emery remains
employed as an executive officer of Interstate Hotels &amp; Resorts,
Inc.

<p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. Mr.&nbsp;Emery agrees he will not
make any false or disparaging statements about MeriStar or any of its
corporate managers or employees. MeriStar agrees that it has not and
will not make any statements that are professionally or personally
disparaging about, or adverse to Mr.&nbsp;Emery, including, but not
limited to, any statements that disparage his capability or any other
aspect of his performance while under the employ of MeriStar, and
that MeriStar will not engage in any conduct which is intended to
harm professionally or personally Mr.&nbsp;Emery&#146;s reputation.
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="center">-5-


<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
12.&nbsp;&nbsp;&nbsp;Mr.&nbsp;Emery states that he is signing this
Agreement knowingly and voluntarily, that he has not been coerced
into signing this Agreement, and that this Agreement resolves all
matters between him and MeriStar.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
13.&nbsp;&nbsp;&nbsp;The parties agree that if any part of this
Agreement is found to be illegal or invalid, the rest of the
Agreement will still be enforceable.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
14.&nbsp;&nbsp;&nbsp;This Agreement shall never at any time for any
purpose be considered as an admission of liability or wrongdoing by
MeriStar or Mr.&nbsp;Emery.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
15.&nbsp;&nbsp;&nbsp;This Agreement is nonprecedential and may not be
raised as evidence by any person in connection with any subsequent
litigation, except as necessary to enforce this Agreement.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
16.&nbsp;&nbsp;&nbsp;If MeriStar determines that Mr.&nbsp;Emery has
breached the terms of this Agreement, and intends to enforce its
rights under the Agreement against Mr.&nbsp;Emery, where practical,
MeriStar agrees to give Mr.&nbsp;Emery written notice that the
specified conduct or event has occurred, and that MeriStar intends to
pursue its rights under the Agreement if Mr.&nbsp;Emery fails to cure
such conduct or event within thirty (30)&nbsp;days of the receipt of such
notice.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
17.&nbsp;&nbsp;&nbsp;This Agreement comprises the entire agreement
between MeriStar and Mr.&nbsp;Emery and cancels all previous
negotiations and agreements in connection with the subject matter of
this Agreement. This Agreement may not be modified or supplemented
except in a writing signed by MeriStar and Mr.&nbsp;Emery.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
18.&nbsp;&nbsp;&nbsp;This Agreement will be interpreted in
accordance with the laws of the District of Columbia without giving
effect to its conflict of law principles.

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
19.&nbsp;&nbsp;&nbsp;The parties agree that any and all disputes,
controversies or claims arising under or in connection with this
Agreement including, without limitation, those relating to the
general validity, enforceability or breach of this Agreement, shall
be subject to confidential, binding arbitration under the Commercial
Rules of the American Arbitration Association. The decision of the
Arbitrator shall be final and binding. The Arbitrator shall have no
authority to add to, delete from or otherwise modify the terms of
this Agreement. In the event a dispute over the interpretation or
breach of this Agreement is brought to arbitration, the Arbitrator
shall order the non-prevailing party
to pay the other&#146;s attorneys&#146; fees and costs associated with the
arbitration. Nothing in this paragraph requires MeriStar to pursue
arbitration as a condition precedent to pleading this Agreement as a
bar to any action or suit before any court or administrative agency.
The decision of the arbitrator shall be final and conclusive, and the
parties waive any right to trial de novo or appeal excepting only
confirming the arbitrator&#146;s administrative proceeding against the
other with respect to any arbitrable dispute by any method other than
arbitration in
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="center"><font size="2">- 6 -</FONT>

<P><font size="2">accordance with this paragraph, the responding
party shall be entitled to recover from the initiating party all
damages, costs, expenses and attorney&#146;s fees incurred as a
result of such action.</FONT>


<P><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned state
that they have carefully read this Agreement, that they know and
understand its terms, and they sign it freely.</FONT>

<TABLE width="100%" cellpadding="0" cellspacing="0" border="0">
<TR>
 <TD width="40%">&nbsp;</TD>
 <TD width="20%">&nbsp;</TD>
 <TD width="40%">&nbsp;</TD>
</TR>
<TR>
 <TD align="center"><FONT size="2"></FONT></TD>
 <TD>&nbsp;</TD>
 <TD align="left"><FONT size="2">/s/ John Emery</FONT></TD>
</TR>
<TR>
 <TD><HR size="1" noshade></td>
 <TD>&nbsp;</TD>
 <TD><HR size="1" noshade></td>
</TR>
<TR>
 <TD align="center"><FONT size="2">Date</FONT></TD>
 <TD>&nbsp;</TD>
 <TD align="left"><FONT size="2">Mr. John Emery</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
 <TD align="center"><FONT size="2"></FONT></TD>
 <TD>&nbsp;</TD>
 <TD align="left"><FONT size="2">/s/ Paul W. Whetsell</FONT></TD>
</TR>
<TR>
 <TD><HR size="1" noshade></td>
 <TD>&nbsp;</TD>
 <TD><HR size="1" noshade></td>
</TR>
<TR>
 <TD align="center"><FONT size="2">Date</FONT></TD>
 <TD>&nbsp;</TD>
 <TD align="left"><FONT size="2">MeriStar Hospitality
Corporation<BR>By</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
 <TD align="center"><FONT size="2"></FONT></TD>
 <TD>&nbsp;</TD>
 <TD align="left"><FONT size="2">Chief Executive Officer</FONT></TD>
</TR>
<TR>
 <TD></td>
 <TD>&nbsp;</TD>
 <TD><HR size="1" noshade></td>
</TR>
<TR>
 <TD align="center"><FONT size="2"></FONT></TD>
 <TD>&nbsp;</TD>
 <TD align="left"><FONT size="2">Title</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
</TABLE>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P align="center"><FONT size="2">EXHIBIT A &#151; Restricted Shares Legend
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The shares represented by this certificate have not been registered
under the Securities Act of 1933 and may not be sold, offered for sale or
otherwise transferred or disposed unless a registration statement under such Act
is in effect with respect thereto or unless the company has received an opinion
of counsel satisfactory to it, that an exemption from such registration is
applicable to said shares. Such shares are subject to an agreement restricting
resale of the shares within a one (1)&nbsp;year period unless the Company is given a
right of first refusal at the price of $.01 per share. The shares shall remain
subject to such restriction during such period notwithstanding any transfer.
</FONT>

<P align="center"><FONT size="2"></FONT>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<P align="center"><FONT size="2">EXHIBIT B
</FONT>

<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">MeriStar Hospitality Corporation</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
OUTSTANDING AND EXERCISABLE BY PRICE</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
AS OF 9/30/02</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2"> ID is equal to emeryj</FONT></TD>
</TR>
</TABLE>
<p>&nbsp;</p>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
  <TR valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Option</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Expiration</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="7"><FONT size="1"><B>Remaining</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Option</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Shares</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Name</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>ID</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Number</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Date</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Date</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="7"><FONT size="1"><B>Life in Years</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Outstanding</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="7"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Emery, John</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left"><FONT size="2">EmeryJ</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><FONT size="2">103</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8/20/96</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8/20/96</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3.89</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">15.64</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">1,564</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Emery, John</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left"><FONT size="2">EmeryJ</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><FONT size="2">104</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8/20/96</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">8/20/96</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">3.89</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">15.64</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">17,500</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Emery, John</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left"><FONT size="2">EmeryJ</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><FONT size="2">00000002</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2/4/99</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">2/4/09</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6.35</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">19.19</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">150,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Emery, John</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left"><FONT size="2">EmeryJ</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left"><FONT size="2">00000022</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12/14/99</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">12/14/09</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">7.21</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">14.88</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">100,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="4" align="left"><FONT size="2">Name: Emery, John</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Avg. Life</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6.49</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Avg. Out</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">17.34</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">269,064</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Avg. Exer</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">17.66</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR>
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="bottom" bgcolor="#eeeeee">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="left"><FONT size="2">TOTALS</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Avg. Life</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">6.49</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Avg. Out</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">17.34</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">269,064</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">&nbsp;</FONT></DIV></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD colspan="3" align="center"><FONT size="2">Avg. Exer</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="right"><FONT size="2">$</FONT></TD>
    <TD align="right"><FONT size="2">17.66</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>

<P align="center"><FONT size="2"></FONT>

</BODY>
</HTML>

</TEXT>
</DOCUMENT>
