FIRST HORIZON PHARMACEUTICAL CORP
EXHIBIT 10.4
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<P ALIGN="RIGHT"><FONT SIZE=2><B>Exhibit&nbsp;10.4  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B><I>As Adopted by the Board of Directors<BR>
on June 12, 2003  </I></B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B><I> <A NAME="kt1505_first_horizon_pharmaceutical_c__fir02940"> </A>
<A NAME="toc_kt1505_1"> </A>
<BR>    </I></B></FONT><FONT SIZE=2><B>FIRST HORIZON PHARMACEUTICAL CORPORATION<BR>  2003 NONQUALIFIED STOCK OPTION PLAN    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Purpose.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The purpose of the 2003 Nonqualified Stock Option Plan
(the"</FONT><FONT SIZE=2><I>Plan</I></FONT><FONT SIZE=2>") is to (a)&nbsp;incentize and retain persons eligible to participate in the Plan; (b)&nbsp;motivate participants, by means of appropriate
incentives, to achieve long-range goals; and (c)&nbsp;further identify participants' interests with those of the Company's shareholders through compensation that is based on the
Company's common stock to promote the long-term financial interest of the Company, including the growth in value of the Company's equity and the enhancement of shareholder return. The term
"</FONT><FONT SIZE=2><I>Company</I></FONT><FONT SIZE=2>" means First Horizon Pharmaceutical Corporation and its Subsidiaries. The term "</FONT><FONT SIZE=2><I>Code</I></FONT><FONT SIZE=2>" shall
mean the Internal Revenue Code of 1986, as amended, and any successor statute. The term "</FONT><FONT SIZE=2><I>Subsidiary</I></FONT><FONT SIZE=2>" shall have the meaning set forth in
Section&nbsp;424(f) of the Code. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Types of Grants.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Plan Committee (as defined below) may, from time to time, grant
nonqualified stock options as provided in Section&nbsp;8 hereof or grant stock awards as provided in Section&nbsp;9 hereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Eligibility.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Non-executive employees (and only non-executive
employees) of the Company shall be eligible to participate in the Plan at the discretion of the Plan Committee; provided, however, that if and to the extent any state or federal securities laws, rules
or regulations limit the eligible participants to employees of the Company or otherwise, then the eligible participants shall be so limited under this Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Administration.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Plan shall be administered by a plan committee (the
"</FONT><FONT SIZE=2><I>Plan Committee</I></FONT><FONT SIZE=2>") established by the Board of Directors of First Horizon Pharmaceutical Corporation (the
"</FONT><FONT SIZE=2><I>Board</I></FONT><FONT SIZE=2>"), which shall appoint and remove members of the Plan Committee in its discretion subject only to the requirements set forth herein. The Plan
Committee shall consist of two or more members of the Board
who are nonemployee directors within the meaning of Rule&nbsp;16b-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and, if deemed appropriate are outside
directors within the meaning of Section&nbsp;162(m) of the Code. The Plan Committee shall determine the meaning and application of the provisions of the Plan and all grant agreements executed
pursuant thereto, and its decisions shall be conclusive and binding upon all interested persons. Subject to the provisions of the Plan, the Plan Committee shall have the sole authority to determine:
(a)&nbsp;the persons to whom grants shall be made; (b)&nbsp;the amount and nature of the grants; (c)&nbsp;the price to be paid for the Stock upon the exercise of each option; (d)&nbsp;the
period within which each option may be exercised; and (e)&nbsp;the other terms and conditions of the grants. Except to the extent prohibited by applicable law or the applicable rules of a stock
exchange, the Plan Committee may allocate all or any portion of its responsibilities to any one or more of its members and may delegate all or any portion of its responsibilities and powers to any
person or persons selected by it. Any such allocation or delegation may be revoked or modified by the Plan Committee at any time. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>5.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Number of Shares Reserved under Plan.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company has reserved for issuance under the
Plan 1,200,000 shares of Common Stock of First Horizon Pharmaceutical Corporation ("</FONT><FONT SIZE=2><I>Stock</I></FONT><FONT SIZE=2>") or the number of shares of Stock, which, in accordance with
the provisions of Section&nbsp;6 below, shall be substituted therefor. If an option granted under the Plan shall expire or terminate for any reason without having been exercised in full or without
having been vested or a Stock award shall be forfeited, shares subject to the unexercised, unvested or forfeited portion thereof shall again be available for the purposes of the Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>6.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Adjustment to Number of Shares and Exercise Price.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In the event of changes in the
outstanding Stock by reason of stock dividends, split-ups, consolidations, recapitalizations, reorganizations or similar events (as determined by the Plan Committee), an appropriate
adjustment shall be made by the Plan </FONT></P>

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<P><FONT SIZE=2>Committee
in the number of shares reserved under the Plan, in the number of shares set forth in Section&nbsp;5 above, and in the number of shares and the option price per share specified in any
stock option agreement with respect to any unpurchased shares. The determination of the Plan Committee as to what adjustments shall be made shall be conclusive. Adjustments for any options to purchase
fractional shares shall also be determined by the Plan Committee. The Plan Committee shall give prompt notice to all Optionees of any adjustment pursuant to this Section. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>7.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>No Incentive Stock Options.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Incentive stock options as defined in Section&nbsp;422
of the Code may not be granted under this Plan. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>8.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Nonqualified Stock Options.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each nonqualified stock option granted under the Plan
shall be evidenced by a stock option agreement between the person to whom such option is granted and the Company. Such stock option agreement shall provide that the option is subject to the following
terms and
conditions and to such other terms and conditions not inconsistent therewith as the Plan Committee may deem appropriate and may be set forth in the grant agreement: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Nonqualified Stock Option Price.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The price to be paid for each share of Stock upon the exercise of a
nonqualified stock option shall be determined by the Plan Committee at the time the option is granted. To the extent that the Fair Market Value of Stock is relevant to the pricing of the option by the
Plan Committee, Fair Market Value of the Stock shall be determined as follows: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>If
the Stock is at the time listed or admitted to trading on any stock exchange (including the Nasdaq National Stock Market), then the "Fair Market Value" shall be the
mean between the lowest and highest reported sale prices of the Stock on the date in question on the principal exchange on which the Stock is then listed or admitted to trading. If no reported sale of
Stock takes place on the date in question on the principal exchange, then the reported closing price of the Stock on such date on the principal exchange shall be determinative of "Fair Market Value."
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>If
the Stock is not at the time listed or admitted to trading on a stock exchange, the "Fair Market Value" shall be the mean between the closing reported sale price of
the Stock on the date in question in the over-the-counter market.
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>In
the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined in good faith by the Committee. </FONT></DD></DL>
</UL>
</UL>

<P><FONT SIZE=2>Provided,
however, that the Plan Committee may establish the "Fair Market Value" in such other manner as may be reasonably determined in good faith by the Plan Committee based on the reported sale of
the Stock on such stock exchange. </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Limitation on Duration of Nonqualified Stock Option.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The period within which a nonqualified stock option may
be exercised shall be determined by the Plan Committee at the time the option is granted, but in no event shall such period exceed 10&nbsp;years from the date the option is granted. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Payment for Stock upon Exercise of Nonqualified Stock Option.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The option exercise price for each share of
Stock purchased under a nonqualified stock option shall be paid in full at the time of purchase and shall be subject to the following: </FONT></P>

<UL>
<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(i)</FONT></DT><DD><FONT SIZE=2>The
full exercise price for shares of Stock purchased upon the exercise of any stock option shall be paid at the time of such exercise (except that, in the case of an
exercise arrangement approved by the Plan Committee and described in paragraph&nbsp;8(e)(iii)&nbsp;below, payment may be made as soon as practicable after the exercise).
<BR><BR></FONT></DD><DT style='margin-bottom:-11pt;'><FONT SIZE=2>(ii)</FONT></DT><DD><FONT SIZE=2>The
exercise price shall be payable in cash or by tendering (either actually or, if and so long as the Common Stock is registered under Section&nbsp;12(b) or 12(g) of
the Exchange Act, by attestation) or constructively surrendering Stock already owned by the Optionee of the stock option for at least six months (or any shorter or longer period necessary to avoid a
charge to the Company's earnings for financial reporting purposes) having a Fair </FONT></DD></DL>
</UL>
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<P><FONT SIZE=2>Market
Value on the day prior to the stock option's exercise date equal to the aggregate exercise price. </FONT></P>

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<DL compact>
<DT style='margin-bottom:-11pt;'><FONT SIZE=2>(iii)</FONT></DT><DD><FONT SIZE=2>The
Plan Committee may permit a participant to elect to pay the exercise price upon the exercise of a stock option by authorizing a third party to sell shares of stock
(or a sufficient portion of the shares) acquired upon exercise of the stock option and remit to the Company a sufficient portion of the sale proceeds to pay the entire exercise price and any tax
withholding resulting from such exercise, or the Company may choose to retain such shares in satisfaction of the exercise price and any tax withholding. </FONT></DD></DL>
</UL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>9.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Stock Awards.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Plan Committee may award Stock under the Plan as stock bonuses or a
Stock award. Stock awarded shall be subject to the terms, conditions, and restrictions determined by the Plan Committee. The restrictions may include restrictions concerning transferability, voting,
repurchase by the Company and forfeiture of the shares of Stock awarded, together with such other restrictions as may be determined by the Plan Committee. If shares of Stock are subject to forfeiture,
all dividends or other distributions paid by the Company with respect to the shares of Stock shall be retained by the Company until the shares of Stock are no longer subject to forfeiture, at which
time all accumulated amounts shall be paid to the recipient. The Plan Committee may require the recipient to sign an agreement as a condition of the award, but may not require the recipient to pay any
monetary consideration other than amounts necessary to satisfy tax withholding requirements. The agreement may contain any terms, conditions, restrictions, representations and warranties required by
the Plan Committee. The certificates representing the shares awarded shall bear any legends required by the Plan Committee. Upon the issuance of a stock award, the number of shares of Stock reserved
for issuance under the Plan shall be reduced by the number of shares of Stock issued. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>10.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Nontransferability.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The options granted pursuant to the Plan shall be
nontransferable except by will or the laws of descent and distribution of the state or county of the Optionee's domicile at the time of death, or, pursuant to a qualified domestic relations order
defined under the Code or Title I of the
Employee Retirement Income Security Act, and shall be exercisable during the Optionee's lifetime only by him (or in the case of a transfer pursuant to a qualified domestic relations order, by the
transferee under such qualified domestic relations order) and after Optionee's death, by Optionee's personal representative or by the person entitled thereto under Optionee's will or the laws of
intestate succession. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>11.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Effect of Termination of Optionee's Employment or Other Relationship with
Company.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon termination of the Optionee's employment or other relationship with the Company, Optionee's rights to exercise vested options then held by Optionee
shall be as follows, except that to the extent such periods are more restrictive in the Optionee's agreement with the Company the shorter period specified in the agreement shall apply: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Death of Optionee.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon the death of a Optionee, any vested option may be exercised (to the extent
exercisable on the date of death) within 12&nbsp;months following the date of death or within such shorter period as the Plan Committee as the Plan Committee shall prescribe in the option agreement,
by the Optionee's representative or by the person entitled thereto under Optionee's will or the laws of intestate succession. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Disability of Optionee.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon the disability (within the meaning of Section&nbsp;22(e)(3) of the Code) of a
Optionee, any vested option may be exercised (to the extent exercisable as of the date of disability), within 12&nbsp;months following disability, or within such shorter period as the Plan Committee
shall prescribe in the option agreement. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)</FONT><FONT
SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;Other Termination.</I></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;In the event an employee ceases to serve as an employee of the Company for any reason
other than as set forth in (a)&nbsp;and (b), above, any option which Optionee holds shall terminate at either (i)&nbsp;60&nbsp;days after the date a Optionee-employee employment terminates or
(ii)&nbsp;such later date as determined by the Plan Committee and set forth in the grant agreement for any grants. The foregoing shall not extend any option beyond the term specified in </FONT></P>

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<P><FONT SIZE=2>the
grant agreement and such option shall be exercisable only to the extent exercisable at the date of termination of employment or cessation of services. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>12.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Change of Control.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Upon the occurrence of a Change in Control (as hereinafter
defined): All outstanding options granted under this Plan shall become fully vested and exercisable and all Stock awarded or sold under this Plan shall become fully vested.
"</FONT><FONT SIZE=2><I>Change of Control</I></FONT><FONT SIZE=2>" means a change in the beneficial ownership of the Company's voting stock or a change in the composition of the Board which occurs as
follows: </FONT></P>

<UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;The
acquisition (other than by a direct purchase of shares from First Horizon Pharmaceutical Corporation ("Horizon")) by any "person," including a "syndication" or
"group", as those terms are used in Section&nbsp;13(d)(3) or 14(d)(2) of the Exchange Act, of securities of representing 20% or more of the combined voting power of Horizon's then outstanding voting
securities, which is any security that ordinarily possesses the power to vote in the election of the Board of Directors of a corporation without the happening of any precondition or contingency; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;Horizon
is merged or consolidated with another corporation and immediately after giving effect to the merger or consolidation either (i)&nbsp;less than 80% of the
outstanding voting securities of the surviving or resulting entity are then beneficially owned in the aggregate by (x)&nbsp;the stockholders of Horizon immediately prior to such merger or
consolidation, or (y)&nbsp;if a record date has been set to determine the stockholders of Horizon entitled to vote on such merger or consolidation, the stockholders of Horizon as of such record
date; </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;If
at any time during a calendar year a majority of the directors of Horizon are not persons who were directors at the beginning of the calendar year; or </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;Horizon
transfers substantially all of its assets to another corporation which is a less than 80% owned subsidiary of Horizon. </FONT></P>

</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>13.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Securities Law Requirements.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Company's obligation to issue shares of its Stock
upon exercise of an option upon the grant of Stock awards, or upon the sale of Stock is expressly conditioned upon the completion by the Company of any registration or other qualification of such
shares under any state or federal law or rulings and regulations of any government regulatory body or the making of such investment representations or other representations and undertakings by the
Optionee or the recipient, as the case may be (or Optionee's legal representative, heir or legatee, as the case may be), in order to comply with the requirements of any exemption from any such
registration or other qualification of such shares which the Company in its sole discretion shall deem necessary or advisable. The Company may refuse to permit the sale or other disposition of any
shares acquired pursuant to any such representation until it is satisfied that such sale or other disposition would not be in contravention of applicable state or federal securities law. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>14.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Tax Matters.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;As a condition to the exercise of an option, the vesting or award of a
Stock bonus or the vesting or sale of shares of Stock, the Company may require the Optionee to pay over to the Company all applicable federal, state and local taxes which the Company is required to
withhold. At the discretion of the Plan Committee and upon the request of an Optionee, the minimum statutory withholding tax requirements may be satisfied by the withholding of shares of Stock
otherwise issuable to the Optionee upon the exercise of an option. In the event Optionee makes an 83(b) election under Code with respect to any grant under the Plan, or disposes of an incentive stock
option in a transaction deemed to be a disqualifying disposition under Section&nbsp;421 of the Code, then, within 30&nbsp;days of such 83(b) election or disqualifying disposition, the Optionee
shall inform the Company of such actions. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>15.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Amendments to Plan.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors may amend the Plan at any time, subject
to applicable law and the requirements of any rule or regulation (including listing regulations applicable to the Company). Except as otherwise provided in this Plan, in no event may action by the
Board or shareholders to amend this Plan alter or impair the rights of a then existing Optionee, without Optionee's consent, under any stock option, award or right previously granted to him hereunder. </FONT></P>

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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>16.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Effective Date of Plan; Duration of Plan.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;This Plan shall become effective upon the
approval of the Board (the "Effective Date"). The Plan shall have a duration of ten years from the Effective Date; provided that in the event of Plan termination, the Plan shall remain in effect as
long as any unexercised or unvested grants under it are outstanding. No grant may be made under the Plan on a date that is more than ten years from the Effective Date. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>17.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>Grant Agreements.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Each option granted and each Stock award or sale of shares of
Stock under the Plan shall be evidenced by a written agreement ("Agreement") executed by the Company and accepted by the Optionee, which (i)&nbsp;shall contain each of the provisions and agreements
herein specifically required to be contained therein or a copy of this Plan attached as an exhibit to the Agreement, (ii)&nbsp;may contain the agreement of the Optionee to remain in the employ of,
or to render services to, the Company for a period of time to be determined by the Plan Committee (or such terms may be included in a separate agreement with the Company), and (iii)&nbsp;may contain
such other terms and conditions as the Plan Committee deems desirable that are consistent with the Plan. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
SIZE=2><B>18.&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><FONT SIZE=2><B><I>No Implied Right of Employment.</I></B></FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;Nothing in this Plan or in any grant hereunder shall
confer upon any recipient any right to continue in the employ of the Company or to continue to perform services for the Company, or shall interfere with or restrict in any way the rights of the
Company to discharge or terminate any officer, director, employee, advisor, independent contractor or consultant at any time for any reason whatsoever, with or without good cause. </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>[END
OF PLAN] </FONT></P>

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