CLOROX CO /DE/
FORM OF PERFORMANCE UNIT AWARD UNDER 1996 PLAN
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>13
<FILENAME>ex10-6.htm
<DESCRIPTION>FORM OF PERFORMANCE UNIT AWARD UNDER 1996 PLAN
<TEXT>
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<head>
<title>THE CLOROX COMPANY</title>
</head>
<body>
<div>
<p align="left"><b><u><font size="4" color="black" face=
"Arial">EXHIBIT 10-6</font></u></b></p>

<p align="left"><b><font size="4" color="black" face=
"Arial"></font></b></p>

<p align="left"><b><font size="4" color="black" face=
"Arial">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>

<p><b><font size="4" color="black" face="Times New Roman">THE
CLOROX COMPANY</font></b></p>

<p align="center"><font size="4" color="black" face=
"Times New Roman">1996 STOCK INCENTIVE PLAN</font></p>

<p align="center"><font size="4" color="black" face=
"Times New Roman">PERFORMANCE UNIT AWARD AGREEMENT</font></p>

<p align="right"><font size="2" color="black" face=
"Times New Roman"></font></p>

<p><b><font size="2" color="black" face="Times New Roman">SUMMARY
OF PERFORMANCE UNIT
AWARD&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b>
<font size="2" color="black"><br />
The Clorox Company (the "Company") grants to the Grantee named
below, in accordance with the terms of The Clorox Company 1996
Stock Incentive Plan (the "Plan") and this Agreement, the number of
Performance Units (the "Units") on the terms set forth
below:</font></p>

<p><font size="1" color="black" face="Times New Roman"></font></p>

<table border="0" cellspacing="0" cellpadding="0">
<tr>
<td valign="top">
<p align="right"><b><font size="2" color="black" face=
"Times New Roman">GRANTEE:</font></b></p>
</td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p align="right"><b><font size="2" color="black" face=
"Times New Roman">TOTAL NUMBER OF</font></b></p>

<p align="right"><b><font size="2" color="black" face=
"Times New Roman">&nbsp; UNITS AWARDED:</font></b></p>
</td>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">&nbsp;</font></p>
</td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p align="right"><b><font size="2" color="black" face=
"Times New Roman">DATE OF AWARD:</font></b></p>
</td>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">&nbsp;</font></p>
</td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p align="right"><b><font size="2" color="black" face=
"Times New Roman">SERIES NUMBER:</font></b></p>
</td>
<td valign="top"></td>
<td valign="top"></td>
</tr>

<tr>
<td valign="top">
<p align="right"><b><font size="2" color="black" face=
"Times New Roman">VESTING:</font></b></p>
</td>
<td valign="top">
<p><font size="2" color="black" face="Times New Roman">Pursuant to
Vesting Schedule Below</font></p>
</td>
<td valign="top"></td>
</tr>
</table>

<p><font size="2" color="black" face="Times New Roman"><br />
<b>TERMS OF AGREEMENT</b></font></p>

<p><font size="1" color="black" face="Times New Roman"></font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">1.
Payable only in stock</font></u></b><font size="2" color=
"black">.&nbsp; Units will be settled only in the Company's Common
Stock (the "Stock") on a one share for one Unit basis, rounded up
or down to the nearest whole share, and not in cash.&nbsp; At the
time of settlement, Grantee will recognize taxable income equal to
the fair market value of the shares of Stock received.&nbsp;&nbsp;
Grantee may meet any withholding tax obligations by using a Stock
Withholding Arrangement.&nbsp; No Stock will be issued to the
Grantee or other person pursuant to the settlement of the Units
until the Grantee or other person has made arrangements acceptable
to the Administrator for the satisfaction of foreign, federal,
state, and local income and employment tax withholding obligations.
Settlement shall occur on a date chosen by the Administrator, which
date shall be within sixty (60) days after the vesting date or any
deferred settlement date established pursuant to Section 6 below,
whichever is later, unless settlement is further deferred pursuant
to Section 7 below.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">2.
Corporate Transactions/Changes of Control/Subsidiary
Dispositions</font></u></b><font size="2" color="black">.&nbsp; The
Units shall be subject to the provisions of Section 10 of the Plan
relating to their vesting or termination in the event of a
Corporate Transaction, Change of Control or Subsidiary
Disposition.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">3.
Vesting Schedule</font></u></b><font size="2" color=
"black">.</font></p>

<p><u><font size="2" color="black">Determination of Vested
Amount.</font></u><font size="2" color="black">If the Total
Stockholder Return determined in the manner described in paragraph
b. below (the "TSR") of the Stock, comparing the month of [month
and year in which the award is made, or &ldquo;X&rdquo;] with the
month of [month of third anniversary of month of grant, or
&ldquo;Y&rdquo;], equals or exceeds the percentile set forth in the
table below of the TSR of the common stock of the peer group of
companies used by the Company for financial analysis purposes (the
"Peer Group") for the same months, the percentage of Units set
forth in the table below next to the highest percentile equaled or
exceeded shall vest on [last day of
Y]:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<table border="1" cellspacing="0" cellpadding="0">
<tr>
<td valign="top">
<p><font size="2" color="black" face="Times New Roman">TSR Equals
or Exceeds</font></p>
</td>
<td valign="top">
<p><font size="2" color="black" face="Times New Roman">Percentage
of Award Vested</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">75<sup>th</sup> percentile</font></p>
</td>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">125%</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">50<sup>th</sup> percentile</font></p>
</td>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">100%</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">45<sup>th</sup> percentile</font></p>
</td>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">75%</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">40<sup>th</sup> percentile</font></p>
</td>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">50%</font></p>
</td>
</tr>

<tr>
<td valign="top">
<p><font size="2" color="black" face="Times New Roman">Below
40<sup>th</sup> percentile</font></p>
</td>
<td valign="top">
<p><font size="2" color="black" face=
"Times New Roman">0%</font></p>
</td>
</tr>
</table>

<p><font size="2" color="black" face="Times New Roman"></font></p>

<p><font size="2" color="black" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All
Units not vested on [last day of Y] will be forfeited.</font></p>

<p><font size="2" color="black" face=
"Times New Roman">b.&nbsp;&nbsp;&nbsp;&nbsp; <u>Determination of
TSR</u>. The TSR for each stock shall be calculated by (1)
subtracting the average of the closing prices or, for days on which
no trading occurred, the last bid prices for each business day
during a specified calendar month on the stock's principal exchange
or national over-the-counter market quotation system (the "Average
Closing Price") from the sum of (a) the Average Closing Price of
that stock for a subsequent specified calendar month (adjusted for
splits, recapitalizations or similar events) and (b) all dividends
paid between the first day of the first specified month and the
last day of the second specified calendar month and (2) dividing
the result obtained in step (1) by the Average Closing Price for
the first specified calendar month. The Administrator shall have
sole discretion to make changes in the Peer Group and to determine
the manner in which such changes are incorporated into the TSR
calculation.&nbsp; The Administrator shall have sole discretion to
determine whether the TSR goals established in paragraph a. above
have been achieved and whether the Units have vested.&nbsp; The
Administrator's determinations pursuant to the exercise of
discretion with respect to all matters described in this paragraph
shall be final and binding on all parties to this
Agreement.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">4.
Dividends</font></u></b><font size="2" color="black">.&nbsp; Cash
payments per Unit equal to per share dividends on the Stock will be
paid to Grantee on dividend payment dates until the latest to occur
of the following:&nbsp; (i) the settlement of the Units or (ii) the
forfeiture of unvested Units on [last day of Y].</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">5.
Death, Disability, or Termination Under Certain
Circumstances:</font></u></b><font size="2" color="black">.&nbsp;
In the event of (a) termination of Grantee&rsquo;s Continuous
Service (the date of such event being hereinafter referred to as
the &ldquo;Termination Date&rdquo;), if Grantee has 20 years of
service or is age 55 or older with 10 or more years of service on
the Termination Date, or (b) Grantee's death or Disability before
the Units vest on [last day of Y], if at all, as described above,
Grantee will be entitled to a pro-rata portion of the Units
determined by (i) multiplying the number of Units awarded to
Grantee as indicated above by a fraction, the numerator of which is
the number of months beginning with [month immediately following X]
and ending with the month which immediately precedes Grantee's
death, Disability, or Termination Date, and the denominator of
which is 36 and (ii) multiplying the result by the Percentage of
Award Vested pursuant to the table.&nbsp; For example, if Grantee
retires on [the first day of the 10<sup>th</sup> month following X]
and 75% of the Units vest on [Y], Grantee would be entitled to
9/36<sup>ths</sup> of 75% of the Award.&nbsp;</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">6.
Election to Defer Settlement</font></u></b><font size="2" color=
"black">.&nbsp; On or before [the last day of the month of the
second anniversary of X], Grantee may elect to defer the settlement
of the Units from the date they would vest until a date at least
two years following the date on which the Units vest, or until
Grantee's later termination of Continuous Service.&nbsp; If Grantee
makes such an election, it will become irrevocable on [the first
day of the month following the second anniversary of X].&nbsp; If
Grantee makes such an election, Grantee will continue to receive
payments in lieu of dividends on Stock on any Units until the
settlement date.&nbsp; If Grantee makes such an election, but a
transaction occurs that subjects Grantee's Units to Section 2 prior
to the settlement date, Grantee's deferral election will terminate
and Grantee's Units will be settled as of the date of that
transaction. The Company may terminate any deferral hereunder if a
change in law requires such termination or if a change in law, in
the opinion of the Company&rsquo;s counsel, makes continued
deferral disadvantageous to the Company.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">7. The
Company's Right to Defer Settlement</font></u></b><font size="2"
color="black">.&nbsp; No settlement of vested Units upon
termination of Grantee's Continuous Service shall be permitted
prior to the ninetieth day of the Company's fiscal year following
the date of Grantee's termination of Continuous Service to the
extent that the Company determines that an earlier settlement would
result in the payment of compensation which would not be deductible
by the Company under Section 162(m) of the Internal Revenue Code of
1986, as amended.&nbsp; If settlement of Units is deferred by
reason of this Section, any reduction in the value of the Stock
from the day the Units would otherwise have been settled (the
"Original Settlement Day"), based on the average between the high
and low price of the Stock on the New York Stock Exchange (the
"Daily Average Price") on the Original Settlement Day or, if the
Stock is not traded on that day, on the next trading day to the day
the Units are actually settled, will be paid to Grantee in the form
of additional shares of the Stock based on the Daily Average Price
of the Stock on the day of the actual settlement, or if the Stock
is not traded on that day, on the next trading day.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">8.
Accelerated Settlement of Units in Case of an Unforeseeable
Emergency</font></u></b><font size="2" color="black">.&nbsp; The
Administrator may, upon written application, agree to an
accelerated settlement of some or all of Grantee's vested Units
upon the showing of severe financial hardship to Grantee resulting
from (a) the sudden and unexpected illness or accident of Grantee's
dependent; (b) loss of Grantee's property due to casualty; or (c)
other similar extraordinary and unforeseeable circumstances arising
as a result of events beyond Grantee's control.&nbsp; Acceleration
will not be granted if the hardship may be relieved (i) through
reimbursement or compensation by insurance or otherwise; or (ii) by
liquidation of Grantee's assets, to the extent such liquidation
will not itself cause severe financial hardship.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">9.
Adjustment of Units</font></u></b><font size="2" color=
"black">.&nbsp; In the event of any change in the outstanding
shares of the Stock, by reason of a stock dividend or split,
recapitalization, merger, consolidation, combination, exchange of
shares, or other similar corporate change, the number of Units
shall be adjusted appropriately by the Administrator, whose
determination shall be conclusive.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">10. No
Funding</font></u></b><font size="2" color="black">.&nbsp; A Unit
constitutes a mere promise by the Company to make settlements or
payments in the future in accordance with the terms of this
Agreement and the Plan.&nbsp; Grantees and beneficiaries have the
status of general unsecured creditors of the Company.&nbsp; Any
cash payments will be paid from the general assets of the Company
and nothing in this Agreement or the Plan will be construed to give
any Grantee or any other person rights to any specific assets of
the Company.&nbsp; In all events, it is the intention of the
Company and all Grantees that the Units be treated as unfunded for
tax purposes and for purposes of Title I of the Employee Retirement
Income Security Act.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">11.
Non-Transferability of Units</font></u></b><font size="2" color=
"black">.&nbsp; Unless otherwise determined by the Administrator,
the Units may not be transferred in any manner otherwise than by
will or by the laws of descent or distribution.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">12.
Entire Agreement.</font></u></b><b><font size="2" color=
"black">&nbsp;</font></b> <font size="2" color="black">The Plan is
incorporated herein by reference.&nbsp; The Plan and this Agreement
constitute the entire Agreement of the parties with respect to this
Performance Unit Award and may not be modified adversely to the
Grantee's interest except by means of a writing signed by the
Company and the Grantee.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">13.
Headings</font></u></b><b><font size="2" color=
"black">.</font></b><font size="2" color="black">&nbsp; The
captions used in this Agreement are inserted for convenience and
shall not be deemed a part of this Agreement for construction or
interpretation.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">14.
Interpretation</font></u></b><b><font size="2" color=
"black">.</font></b><font size="2" color="black">&nbsp; Any dispute
regarding the interpretation of this Agreement shall be submitted
by the Grantee or by the Company forthwith to the Administrator,
which shall review such dispute at its next regular meeting.&nbsp;
The resolution of such dispute by the Administrator shall be final
and binding on all persons.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">15.
Governing Law</font></u></b><b><font size="2" color=
"black">.</font></b><font size="2" color="black">&nbsp; This
Agreement is governed by California law.</font></p>

<p><b><u><font size="2" color="black" face="Times New Roman">16.
Definition of Terms</font></u></b><b><font size="2" color=
"black">.</font></b><font size="2" color="black">Unless otherwise
defined herein, the terms defined in the Plan shall have the same
defined meanings in this Agreement.</font></p>

<p><b><font size="2" color="black" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b>
<b><font size="5" color=
"black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b>
<font size="2" color=
"black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<b>THE CLOROX COMPANY</b></font></p>

<p><b><font size="5" color="black" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></b></p>

<p><font size="2" color="black" face="Times New Roman"></font></p>

<p><font size="2" color="black" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By: ____________________________________</font></p>

<p><font size="2" color="black" face="Times New Roman"></font></p>

<p><font size="2" color="black" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Its: CEO and President <u></u></font></p>

<font size="2" color="black" face="Times New Roman"><br clear=
"all" />
</font>

<p><font size="2" color="black" face="Times New Roman">GRANTEE
ACKNOWLEDGES AND AGREES THAT THE VESTING OF THE UNITS PURSUANT TO
THIS AGREEMENT IS EARNED ONLY BY CONTINUING EMPLOYMENT AT THE WILL
OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED
THIS AWARD OR ACQUIRING UNITS HEREUNDER) AND BY ACHIEVEMENT OF THE
PERFORMANCE CRITERIA.&nbsp; GRANTEE FURTHER ACKNOWLEDGES AND AGREES
THAT NOTHING IN THIS AGREEMENT, NOR IN THE PLAN SHALL CONFER UPON
GRANTEE ANY RIGHT WITH RESPECT TO CONTINUATION OF EMPLOYMENT BY THE
COMPANY, NOR SHALL IT INTERFERE IN ANY WAY WITH GRANTEE'S RIGHT OR
THE COMPANY'S RIGHT TO TERMINATE GRANTEE'S EMPLOYMENT AT ANY TIME,
WITH OR WITHOUT CAUSE.</font></p>

<p><font size="2" color="black" face="Times New Roman"></font></p>

<p><font size="2" color="black" face="Times New Roman">Grantee
acknowledges receipt of a copy of the Plan and represents that he
or she is familiar with the terms and provisions thereof, and
hereby accepts this Agreement subject to all of the terms and
provisions thereof.&nbsp; Grantee has reviewed the Plan and this
Agreement in their entirety, has had an opportunity to obtain the
advice of counsel prior to executing this Agreement and fully
understands all provisions of the Agreement.&nbsp; Grantee hereby
agrees to accept as binding, conclusive and final all decisions or
interpretations of the Administrator upon any questions arising
under the Plan or this Agreement.&nbsp; Grantee further agrees to
notify the Company upon any change in the residence address
indicated below.</font></p>

<p><font size="2" color="black" face="Times New Roman"></font></p>

<p><font size="2" color="black" face="Times New Roman">Dated:
____________________________&nbsp; Signed:
_________________________________</font></p>

<p><font size="2" color="black" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Grantee</font></p>

<p><font size="2" color="black" face="Times New Roman"></font></p>

<p><font size="2" color="black" face="Times New Roman"></font></p>

<p><font size="2" color="black" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Residence Address:</font></p>

<p><font size="2" color="black" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
__________________________________</font></p>

<p><font size="2" color="black" face="Times New Roman"></font></p>

<p><font size="2" color="black" face=
"Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
__________________________________</font></p>
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