<SUBMISSION>
<ACCESSION-NUMBER>0000073887-07-000021
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20070508
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20070508
<DATE-OF-FILING-DATE-CHANGE>20070508
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>Bristow Group Inc
<CIK>0000073887
<ASSIGNED-SIC>4522
<IRS-NUMBER>720679819
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0426
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-31617
<FILM-NUMBER>07827906
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2000 W SAM HOUSTON PARKWAY SOUTH
<STREET2>SUITE 1700
<CITY>HOUSTON
<STATE>TX
<ZIP>77042
<PHONE>7132677600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2000 W SAM HOUSTON PARKWAY SOUTH
<STREET2>SUITE 1700
<CITY>HOUSTON
<STATE>TX
<ZIP>77042
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>OFFSHORE LOGISTICS INC
<DATE-CHANGED>19920703
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k-070508departofdirect.htm
<DESCRIPTION>FORM 8-K DEPARTURE OF DIRECTORS
<TEXT>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 13pt; FONT-FAMILY: Times New Roman, serif;"><strong>UNITED
      STATES</strong></font></div>
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      AND EXCHANGE COMMISSION</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>WASHINGTON,
      D.C. 20549</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>FORM
      8-K</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>CURRENT
      REPORT</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Pursuant
      to Section&#160;13 or 15(d) of</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>the
      Securities Exchange Act of 1934</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Date
      of
      Report (Date of earliest event reported): May 2, 2007</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">______________________________</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Bristow
      Group Inc.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(Exact
      name of registrant as specified in its charter)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><br><br>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Delaware</strong></font></div>
              </td>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>72-0679819</strong></font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><em>(State
                  or other jurisdiction of</em></font></div>
              </td>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><em>(IRS
                  Employer</em></font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><em>incorporation
                  or organization)</em></font></div>
              </td>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><em>Identification
                  Number)</em></font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>2000
                  W.&#160;&#160;Sam Houston Pkwy. S.,</strong></font></div>
              </td>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>77042</strong></font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Suite
                  1700</strong></font></div>
              </td>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><em>(Zip
                  Code)</em></font></div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Houston,
                  Texas</strong></font></div>
              </td>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>
            <tr>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><em>(Address
                  of principal executive offices)</em></font></div>
              </td>
              <td valign="bottom" width="42%" style="BORDER-BOTTOM: black"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">&#160;</font></td>
            </tr>

        </table>
      </div><br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Registrant&#8217;s
      telephone number, including area code: <strong>(713)
      267-7600</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Former
      Name or Former Address, if Changed Since Last Report:</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">______________________________</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font>Check
      the appropriate box below if the
      Form 8-K filing is intended to simultaneously satisfy the filing obligation
      of
      the registrant under any of the following provisions (<em>see </em>General
      Instruction A.2. below):</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 18pt;"></font><font style="DISPLAY: inline;" face="Wingdings">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      5.02. Departure of Directors or Certain Officers; Election of Directors;
      Appointment of Certain Officers; Compensatory Arrangements of Certain
      Officers.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Retirement
      of Director</u>.&#160;&#160;On May 2, 2007 Mr. Robert W. Waldrup, who has served
      as a director of the company since 2001, advised the Board of Directors of
      the
      Company that he would be retiring from the board as of the Company&#8217;s annual
      meeting of stockholders to be held in August 2007. Mr. Waldrup has served the
      shareholders and the board with diligence and distinction and will be
      missed.&#160; The Governance and Nominating Committee is actively searching for
      candidates to replace Mr. Waldrup.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Annual
      Incentive Plan.</u>&#160;&#160;On May 3, 2007, the Compensation Committee (the
&#8220;Compensation Committee&#8221;) of the Board of Directors of Bristow Group Inc. (the
&#8220;Company&#8221;) approved the Bristow Group Inc. Fiscal Year 2008 Annual Incentive
      Compensation Plan in which certain key employees of the Company, including
      each
      of the executive officers of the Company listed below (the &#8220;Named Executive
      Officers&#8221;), are eligible to participate. The plan provides for payment of cash
      bonuses to participants following the completion of the fiscal year subject
      to
      the attainment of certain performance goals. Performance Goals include Earnings
      per Share, Earnings before Interest Taxes and Depreciation (&#8220;EBITDA&#8221;), Return on
      Capital Employed (&#8220;ROCE&#8221;), a safety measure and a portion related to individual
      performance, all as defined in the Plan. The following are the participation
      levels expressed as a percentage of annual salary for each of the Named
      Executive Officers:</font></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="justify" valign="top" width="45%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Name</strong></font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Target
                Level</strong></font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Maximum</strong></font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="45%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">William
                E. Chiles</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">100%</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">200%</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="45%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Perry
                L. Elders</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">75%</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">150%</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="45%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Richard
                D. Burman</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">50%</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">100%</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="45%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Mark
                B. Duncan</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">50%</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">100%</font></div>
            </td>
          </tr>
          <tr>
            <td align="justify" valign="top" width="45%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">Michael
                R. Suldo</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">50%</font></div>
            </td>
            <td align="justify" valign="top" width="17%" style="BORDER-BOTTOM: black">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">100%</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
      foregoing description of the Plan is qualified in its entirety by the Plan,
      a
      copy of which is attached hereto as Exhibit 10.1 and is incorporated herein
      by
      reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Approval
      of New Long Term Incentive Plan.</u>&#160;&#160;On May 3, 2007, the Board of
      Directors of the Company approved the Bristow Group Inc. 2007 Long Term
      Incentive Plan subject to approval of the Company&#8217;s stockholders at the
      Company&#8217;s annual meeting of stockholders to be held on August 2, 2007. The
      number of Shares of Common Stock reserved under the 2007 Plan and available
      for
      Incentive Awards under the 2007 Plan is 1,200,000. The primary purpose of the
      2007 Plan is to provide a means whereby the Company may advance the best
      interests of the Company by providing Outside Directors, Employees and
      Consultants with additional incentives through the grant of Stock Options to
      purchase Common Stock of the Company, shares of Restricted Stock, Other
      Stock-Based Awards (payable in cash or Common Stock) and Performance Awards,
      thereby increasing the personal stake of such persons in the continued success
      and growth of the Company. The foregoing description of the Long term Incentive
      Plan is qualified in its entirety by the plan itself, a copy of which is
      attached hereto as Exhibit 10.2 and is incorporated herein by
      reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><u>Grant
      of Restricted Stock.&#160;&#160;</u>On May 3, 2007, the Compensation Committee
      of the Board of Directors of the Company granted William E. Chiles, President
      and Chief Executive Officer 34,000 shares of restricted common stock under
      the
      Bristow Group Inc. 2007 Long Term Incentive Plan. The grant is subject to the
      approval of the 2007 Long Term Incentive Plan by the stockholders of the Company
      at its Annual General Meeting of Stockholders to be held in August 2007. The
      restrictions on the shares lapse on May 3, 2010 provided Mr. Chiles remains
      in
      the employ of the Company until that time. A copy of the award letter is
      attached hereto as Exhibit 10.3 and is incorporated herein by
      reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Item
      9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial
      Statements and Exhibits.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><font id="TAB1" style="MARGIN-LEFT: 72pt;"></font><u>Exhibit
      Number</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description
      of Exhibit</u></strong></font></div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 180pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">10.1</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Bristow
                Group Inc. Fiscal Year 2008 Annual Incentive Compensation
                Plan</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 180pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">10.2</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Bristow
                Group Inc. 2007 Long Term Incentive
                Plan</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">

          <tr valign="top">
            <td style="WIDTH: 72pt">
              <div>&#160;</div>
            </td>
            <td style="WIDTH: 180pt">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">10.3</font></div>
            </td>
            <td>
              <div align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">William
                E. Chiles Restricted Stock Award
                Documents</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>SIGNATURE</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 21.6pt;"></font>Pursuant
      to the requirements of the
      Securities Exchange Act of 1934, the registrant has duly caused this report
      to
      be signed on its behalf by the undersigned hereunto duly
      authorized.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Dated:
      May 8, 2006</font></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><font id="TAB1" style="MARGIN-LEFT: 288pt;"></font>BRISTOW
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      INC.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 288pt;"></font>(Registrant)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 288pt;"></font>By:
<u>/S/
      Randall A.
      Stafford</u></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 288pt;"></font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;Randall
      A. Stafford</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 288pt;"></font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;Vice
      President and General&#160;&#160;&#160;&#160;&#160;&#160;&#160;Counsel,
      Corporate Secretary</font></div>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit10-1.htm
<DESCRIPTION>EXHIBIT 10.1 MGT INCENTIVE COMP PLAN
<TEXT>
<html>

  <head>
    <title>exhibit10-1.htm</title>
<!-- Licensed to: Bristow Group Inc-->
<!-- Document Created using EDGARizer 4.0.0.0 -->
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</head>
  <body bgcolor="#ffffff"><br>
    <div>
      <hr style="COLOR: black" align="left" noshade size="1" width="100%">
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Exhibit
      10.1</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>BRISTOW
      GROUP INC.</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>FY
      2008 Annual Incentive Compensation Plan</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>Plan
      Provisions</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><strong>May
      3, 2008</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PURPOSE</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">To
      provide selected corporate officers and managers, subsidiary Presidents,
      Directors and managers the opportunity to share in the improved performance
      of
      the company by achieving specific corporate and business unit financial goals,
      and key individual objectives.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Participants
      will be required to uphold and certify their performance of the Company&#8217;s legal
      and ethical standards as described in the Code of Business Integrity and the
      policies that support the Code; and shall use the Company&#8217;s statement of Core
      Values and the Leadership Charter as guidelines for the conduct of business
      and
      working relationships.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>ELIGIBILITY</strong></font></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Selected
                Corporate Officers, Directors and Managers, and Subsidiary Presidents,
                Directors, and Managers may be eligible to participate in the
                plan.&#160;&#160;Participants are recommended by the CEO and approved by
                the Compensation Committee.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Employees
                who are employed after the commencement of the Plan year will be
                eligible
                to participate in the plan on a pro-rata basis for such plan
                year.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Participants
                will be assigned to a specific eligibility level.&#160;&#160;For each
                eligibility level an Entry, Expected and Target incentive award
                opportunity is defined as follows:</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="middle" width="12%" style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Eligibility
                Level</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>(Salary
                Grades)</strong></font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Entry
                Award Opportunity</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>&#160;%
                of Base</strong></font></div>
            </td>
            <td valign="middle" width="13%" style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Expected
                Award Opportunity</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>%
                of Base</strong></font></div>
            </td>
            <td valign="middle" width="14%" style="BORDER-TOP: black 0.5pt solid; BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>Target
                Award Opportunity</strong></font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>%
                of Base</strong></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>E16</strong></font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">15.0%</font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">100%</font></div>
            </td>
            <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">200%</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>E14-E15</strong></font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">11.25%</font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">75%</font></div>
            </td>
            <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">150%</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>E11-13</strong></font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">7.5%</font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">50%</font></div>
            </td>
            <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">100%</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>E9-10</strong></font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">6.0%</font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">40%</font></div>
            </td>
            <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">80%</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>E7-8</strong></font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">4.5%</font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">30%</font></div>
            </td>
            <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">60%</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>E4-6</strong></font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">3.0%</font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">20%</font></div>
            </td>
            <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">40%</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>E3</strong></font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">2.25%</font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">15%</font></div>
            </td>
            <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">30%</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="12%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;"><strong>E1-2</strong></font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">1.5%</font></div>
            </td>
            <td valign="top" width="13%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">10%</font></div>
            </td>
            <td valign="top" width="14%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman;">20%</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>KEY
      PERFORMANCE INDICATORS (KPI&#8217;S) AND WEIGHTS</strong></font></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">KPI&#8217;s
                are selected and weighted to give emphasis to performance for which
                participants have the most direct control.&#160;&#160;KPI&#8217;s may vary among
                participants and may change from year to
                year.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                Compensation Committee approves the KPI&#8217;s and weights
                annually.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Participants
                assigned to a corporate-wide position will be assigned financial
                performance measures related to the corporation
                overall.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Participants
                assigned to a hemisphere-wide position will be assigned financial
                performance measures related to the hemisphere and the corporation
                overall.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Participants
                assigned to a specific business unit position will be assigned financial
                performance measures related to the business unit, the hemisphere,
                and the
                corporation overall.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">All
                participants will share in the overall performance of the
                corporation.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">All
                participants will be measured on the safety performance of the applicable
                business unit, hemisphere, or corporation
                overall.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
                participant will have an &#8220;individual performance&#8221; component, and will be
                evaluated based on specific individual objectives (scorecard) and
                an
                overall performance evaluation of their contribution to the
                organization.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attachment
                I summarizes the weighting of performance
                measures.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
                participant will receive an individual Incentive Award Determination
                Worksheet that contains his or her specific incentive award opportunity,
                KPI&#8217;s, and performance goals.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Attachment
                II summarizes the KPI&#8217;s for the FY08 Incentive
                Plan.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div><br></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>KPI
      DEFINITIONS</strong></font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
      following definitions will determine the calculation of each KPI.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Capital
      Employed &#8211; </strong>Capital Employed is measured as of the end of each fiscal
      quarter. The Capital Employed used in ROCE calculations (see below) is the
      average of the beginning Capital Employed and the Capital Employed at each
      measurement date during a reward period (i.e. for FY 2008, the average of
      Capital Employed at March 31, June 30, September 30 and December 31, 2007 and
      March 31, 2008). Capital Employed for an SBU is calculated at each measurement
      date as the FMV of all owned aircraft employed in the SBU plus the FMV of all
      aircraft held for sale by the SBU plus the NBV of all non-cash working capital,
      land, buildings and other assets, investments and goodwill attributable to
      the
      SBU. Capital Employed for a Hemisphere or Corporate Entity is defined as the
      sum
      of the Capital Employed by the SBUs comprising that Hemisphere or Corporate
      Entity plus any other assets attributable to that Hemisphere or Corporate
      Entity.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Consolidated
      Corporate EPS - </strong>Fully Diluted Earning per Share, determined in
      accordance with generally accepted accounting principles.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Corporate
      EBITDA Return on Capital Employed</strong> - ROCE is defined as Earnings before
      Interest, Taxes, Depreciation, and Amortization
      (EBITDA)<strong>&#160;</strong>divided by Bristow consolidated Capital Employed
      for the associated period.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Business
      Unit EBITDA - </strong>Business Unit earnings before Interest, Taxes,
      Depreciation, and Amortization, exclusive of inter-company lease revenue and
      expense.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Business
      Unit EBITDA Return on Capital Employed - </strong>Business Unit ROCE is defined
      as Business Unit Earnings before Interest, Taxes, Depreciation, and Amortization
      (EBITDA) divided by the Business Unit&#8217;s Capital Employed for the plan
      year.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>TRIR
      - </strong>TRIR is defined as the Bristow Group consolidated or SBU Total
      Recordable Incident Rate (TRIR) for the fiscal year.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>LWCR
      Rate</strong>&#8211; LWCR Rate is defined as the number of Lost Work Case Accidents
      per 200,000 man hours incurred by Bristow Group or an SBU.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Air
      Accident Rate</strong>&#8211; Flight accident rate is defined as the number of Air
      Accidents per 100,000 flight hours by Bristow Group or an SBU. Air accidents
      are
      defined by the International Civil Aviation Organizations (ICAO) Annex 13 and
      are in compliance with the NTSB and CAA definitions.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Fatality
      </strong>&#8211; If during the plan year any business unit or division experiences
      a
      fatality in ground or air operations, the award for the safety performance
      component will be zero for all participants in that business unit or division,
      as well as for all the participants in that business unit or division&#8217;s
      organizational reporting chain up to, and including, the participants at the
      corporate level.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Individual
      Performance - </strong>Individual performance will relate specifically to the
      individual. Each individual participant should be evaluated on individual
      objectives (Scorecard) that have been defined at the beginning of the plan
      year
      and an overall performance evaluation of the individual&#8217;s contributions during
      the year.&#160;&#160;The level of award for this component is at management
      discretion with approval of the Compensation Committee.</font></div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PERFORMANCE
      GOALS</strong></font></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">For
                each performance measure, goals for the Entry, Expected, and Target
                levels
                of performance will be established.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">For
                FY&#8217;08 Expected Performance is set at 90% of the FY 2008 financial plan.
                Entry Performance is set at 80% of Expected Performance and Target
                Performance is set at 120% of Expected
                Performance.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Financial
                performance goals are based on the Board approved Corporate and Business
                Unit operating budgets.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Individual
                objectives are determined based on the individual&#8217;s ability to directly
                impact the outcome and an overall assessment of the individual&#8217;s
                contributions.&#160;&#160;The Compensation Committee is responsible to
                evaluate the individual performance of the CEO and approve the CEO&#8217;s
                performance assessments of all other
                participants.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                Compensation Committee reserves the right to adjust performance goals
                (up
                or down) for significant acquisitions or divestitures that were not
                contemplated when the performance goals were initially
                set.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                non-discretionary performance goals for FY&#8217;08 are shown in Attachment
                II.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                weighting of the safety measures is as
                follows:</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">o&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Corporate
                participants&#8217; safety awards are based 100% on consolidated group
                performance and distributed 33.33% on Total Recordable Incident Rate
                (TRIR); 33.3% Lost Work Case Rate (LWCR); 33.33% on Air Accident
                Rate
                (AAR).</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">o&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Hemisphere/Division
                (aviation) participants&#8217; safety awards are based 50% on consolidated group
                performance and 50% on their hemisphere/division performance, and
                distributed 33.333% TRIR; 33.33% LWCR; 33.33%
                AAR.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">o&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Business
                unit participants&#8217; safety awards are based 50% on consolidated group
                performance and 50% on their business unit performance, and distributed
                33.33% on TRIR; 33.33% on LWCR; 33.33% on
                AAR.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 72pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">o&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Grasso
                participant&#8217;s safety awards are based 50% on consolidated group
                performance and 50% on their divisions&#8217; performance, and distributed 50%
                TRIR and 50% LWCR.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>DETERMINING
      THE ANNUAL INCENTIVE AWARD</strong></font></div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Once
                the FY 2008 plan year has been completed, the financial performance
                of the
                corporation and each business unit will be determined.&#160;&#160;For each
                financial performance measure the performance level will be determined
                based on the standards established at the beginning of the plan
                year.&#160;&#160;Interpolation will be used between Entry and Expected and
                Expected and Target.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
                participant will meet with his or her supervisor to evaluate the
                results
                achieved for each individual objective.&#160;&#160;The performance level
                for the individual component will be determined between Entry and
                Target
                based on the standards established at the beginning of the plan year
                and
                management&#8217;s assessment.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                actual incentive award earned by each participant will be the sum
                of the
                incentive award earned for each applicable performance
                measure.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Incentive
                Awards will be paid as soon as practical after the end of the plan
                year
                and completion and certification of the outside audit of financial
                results.&#160;&#160;Awards will be made no later than 75 days after the
                end of the fiscal year.&#160;&#160;A participant must be employed on the
                date awards are paid in order to receive an
                award.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">

          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">An
                individual will not receive his/her incentive award until they have
                signed
                a certification of performance under the Code of Business Integrity.
                The
                Company may recover the incentive award if it is found that the
                certification was signed with the knowledge of, or participation
                in, a
                prohibited act.</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <div>&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>ADMINISTRATION
        OF PLAN</strong></font></div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                  Compensation Committee approves the plan, with day-to-day responsibility
                  for administration delegated to management.&#160;&#160;The Committee will
                  interpret the plan and make appropriate adjustments as
                  necessary.&#160;&#160;All interpretations made by the Committee are
                  final.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                  Compensation Committee will approve in advance of the plan year
                  the
                  participants, performance measures and weights, and the performance
                  goals
                  for each participant.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                  Compensation Committee will certify the performance results of
                  the company
                  and the total incentive awards paid at the end of the plan
                  year.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                  incentive awards for the year will be accrued and charged as an
                  expense,
                  before determining the financial performance under the
                  plan.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%">

            <tr valign="top">
              <td align="right" style="WIDTH: 36pt">
                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Participants
                  whose employment is terminated for any reason other than death,
                  disability, normal retirement, or &#8220;without cause&#8221; prior to payment of
                  incentive awards will not be eligible to receive an
                  award.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <div>
          <div><br>
            <div>
              <table cellpadding="0" cellspacing="0" id="list" width="100%">

                  <tr valign="top">
                    <td align="right" style="WIDTH: 36pt">
                      <div><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman;"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Participants
                        whose employment is terminated for reason of death, disability,
                        normal
                        retirement, or &#8220;without cause&#8221; may be eligible for a pro-rated award at
                        the recommendation of management, and approval by the Compensation
                        Committee.</font></div>
                    </td>
                  </tr>

              </table>
            </div>
            <div><br></div>
            <div>
              <table cellpadding="0" cellspacing="0" id="list" width="100%">

                  <tr valign="top">
                    <td align="right" style="WIDTH: 36pt">
                      <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
                    </td>
                    <td>
                      <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
                        Committee, in its sole discretion, may make special incentive
                        awards to
                        any individual in order to recognize special performance
                        or
                        contributions.</font></div>
                    </td>
                  </tr>

              </table>
            </div><br>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>exhibit10-2.htm
<DESCRIPTION>EXHIBIT 10.2 2007 LTIP
<TEXT>
<html>

  <head>
    <title>exhibit10-2.htm</title>
<!-- Licensed to: Bristow Group Inc-->
<!-- Document Created using EDGARizer 4.0.0.0 -->
<!-- Copyright 2007 EDGARfilings, Ltd., an IEC company.-->
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</head>
  <body bgcolor="#ffffff"><br>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;</font>
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
      </div>
    </div>
    <div><br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Exhibit
      10.2<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;<font id="TAB2" style="LETTER-SPACING: 9pt;">&#160;&#160;&#160;</font>&#160;
</strong></font>
      <div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>BRISTOW
          GROUP INC.</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>2007
          LONG TERM INCENTIVE PLAN</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>SECTION
          1.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>GENERAL
          PROVISIONS RELATING TO</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PLAN
          GOVERNANCE, COVERAGE AND BENEFITS</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.1&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Purpose</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          purpose of the Bristow Group Inc. 2007 Long Term Incentive Plan as set
          forth
          herein and as may be amended from time to time (the &#8220;Plan&#8221;) is to provide a
          means whereby Bristow Group Inc., a Delaware corporation (the &#8220;Company&#8221; or
&#8220;Bristow&#8221;), may advance the best interests of the Company and any Parent or
          Subsidiaries by providing Outside Directors, Employees and Consultants
          with
          additional incentives through the grant of Options to purchase Common Stock
          of
          the Company, par value US $0.01 per share (&#8220;Common Stock&#8221;), Shares of Restricted
          Stock, Other Stock-Based Awards (payable in cash or Common Stock) and
          Performance Awards, thereby increasing the personal stake of such Outside
          Directors, Employees and Consultants in the continued success and growth
          of the
          Company.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Plan
          provides for payment of various forms of incentive compensation and it
          is not
          intended to be a plan that is subject to the Employee Retirement Income
          Security
          Act of 1974, as amended (&#8220;ERISA&#8221;).</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Plan
          is adopted and made effective as of May 3, 2007 subject to Company stockholder
          approval (the &#8220;Effective Date&#8221;) and shall remain in effect, subject to the right
          of the Board to amend or terminate the Plan at any time pursuant to
<u>Section&#160;</u><a href="#_Ref61425699"><u>6.6</u></a>, until all Shares
          subject to the Plan have been purchased or acquired according to its
          provisions.&#160;&#160;However, in no event may any Incentive Award be granted
          under the Plan after the expiration of ten (10) years from the Effective
          Date.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.2&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Definitions</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          following terms shall have the meanings set forth below:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Award
          Letter</u></strong><strong>.&#160;&#160;</strong>The written or electronic award
          letter issued by the Company to the Grantee setting forth the terms and
          conditions pursuant to which an Incentive Award is granted under the Plan,
          as
          further described in <u>Section&#160;</u><a href="#_Ref61425752"><u>5.1(a)</u></a>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Board</u></strong>.&#160;&#160;The
          Board of Directors of the Company.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Code</u></strong>.&#160;&#160;The
          Internal Revenue Code of 1986, as amended, and the regulations and other
          authority promulgated thereunder by the appropriate governmental
          authority.&#160;&#160;References herein to any provision of the Code shall refer
          to any successor provision thereto.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Committee</u></strong><strong>.</strong>&#160;&#160;A
          committee appointed by the Board consisting of not less than two directors
          as
          appointed by the Board to administer the Plan.&#160;&#160;The Plan shall be
          administered by a committee appointed by the Board consisting of not less
          than
          two directors who fulfill the &#8220;non-employee director&#8221; requirements of Rule 16b-3
          under the Exchange Act, the &#8220;outside director&#8221; requirements of
          Section&#160;162(m) of the Code and the &#8220;independent&#8221; requirement of the rules
          of any national securities exchange or the Nasdaq Stock Market, Inc. (&#8220;NASDAQ&#8221;),
          as the case may be, on which any of the securities of the Company are traded,
          listed or quoted, if any.&#160;&#160;The Committee may be the Compensation
          Committee of the Board, or any subcommittee of the Compensation Committee,
          provided that the members of the Committee satisfy the requirements of
          the
          previous provisions of this paragraph.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Board
          shall have the power to fill vacancies on the Committee arising by resignation,
          death, removal or otherwise.&#160;&#160;The Board, in its sole discretion, may
          bifurcate the powers and duties of the Committee among one or more separate
          committees, or retain all powers and duties of the Committee in a single
          Committee.&#160;&#160;The members of the Committee shall serve at the discretion
          of the Board.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Notwithstanding
          the preceding paragraphs, the term &#8220;Committee&#8221; as used in the Plan with respect
          to any Incentive Award for an Outside Director shall refer to the entire
          Board.&#160;&#160;In the case of an Incentive Award for an Outside Director, the
          Board shall have all the powers and responsibilities of the Committee hereunder
          as to such Incentive Award, and any actions as to such Incentive Award
          may be
          acted upon only by the Board (unless it otherwise designates in its
          discretion).&#160;&#160;When the Board exercises its authority to act in the
          capacity as the Committee hereunder with respect to an Incentive Award
          for an
          Outside Director, it shall so designate with respect to any action that
          it
          undertakes in its capacity as the Committee.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Consultant</u></strong><strong>.&#160;&#160;</strong>An
          independent agent, consultant, or any other individual who is not an Outside
          Director or Employee of the Company (or any Parent or Subsidiary) and who
          (i),
          in the opinion of the Committee, is in a position to contribute to the
          growth or
          financial success of the Company (or any Parent or Subsidiary), (ii) is
          a
          natural person and (iii)&#160;provides bona fide services to the Company (or any
          Parent or Subsidiary), which services are not in connection with the offer
          or
          sale of securities in a capital raising transaction, and do not directly
          or
          indirectly promote or maintain a market for the Company&#8217;s
          securities.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Employee</u></strong><strong>.&#160;&#160;</strong>Any
          employee of the Company (or any Parent or Subsidiary) within the meaning
          of
          Section 3401(c) of the Code, including, without limitation, officers who
          are
          members of the Board.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Employment</u></strong><strong>.&#160;&#160;</strong>Employment
          by the Company (or any Parent or Subsidiary), or by any corporation issuing
          or
          assuming an Incentive Award in any transaction described in Section 424(a)
          of
          the Code, or by a parent corporation or a subsidiary corporation of such
          corporation issuing or assuming such Incentive Award, as the parent-subsidiary
          relationship shall be determined at the time of the corporate action described
          in Section 424(a) of the Code.&#160;&#160;In this regard, neither the transfer
          of a Grantee from Employment by the Company to Employment by any Parent
          or
          Subsidiary, nor the transfer of a Grantee from Employment by any Parent
          or
          Subsidiary to Employment by the Company, shall be deemed to be a termination
          of
          Employment of the Grantee.&#160;&#160;Moreover, the Employment of a Grantee
          shall not be deemed to have been terminated because of an approved leave
          of
          absence from active Employment on account of temporary illness, authorized
          vacation or granted for reasons of professional advancement, education,
          health,
          or government service, or military leave, or during any period required
          to be
          treated as a leave of absence by virtue of any applicable statute, Company
          personnel policy or agreement.&#160;&#160;Whether an authorized leave of absence
          shall constitute termination of Employment hereunder shall be determined
          by the
          Committee in its discretion.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Unless
          otherwise provided in the Award Letter, the term &#8220;Employment&#8221; for purposes of
          the Plan is also defined to include (i) compensatory or advisory services
          performed by a Consultant for the Company (or any Parent or Subsidiary)
          and (ii)
          membership on the Board by an Outside Director.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(h)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Exchange
          Act</u></strong><strong>.&#160;&#160;</strong>The Securities Exchange Act of
          1934, as amended.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Fair
          Market Value</u></strong><strong>.</strong>&#160;&#160;The Fair Market Value of
          one share of Common Stock as of any date is deemed to be (i) the closing
          sales
          price on the date of determination of a share of Common Stock as reported
          on the
          consolidated reporting system for the securities exchange(s) on which Shares
          are
          then listed or admitted to trading (as reported in the <em>Wall Street
          Journal</em> or other reputable source), or (ii)&#160;if not so reported, the
          average of the closing bid and asked prices<strong>&#160;</strong>for a Share on
          the date of determination<strong>&#160;</strong>as quoted on NASDAQ, or
          (iii)&#160;if not quoted on NASDAQ, the average of the closing bid and asked
          prices for a Share on the date of determination as quoted by the National
          Quotation Bureau&#8217;s &#8220;Pink Sheets&#8221; or the National Association of Securities
          Dealers&#8217; OTC Bulletin Board System.&#160;&#160;If there was no public trade of
          Common Stock on the date of determination, Fair Market Value shall be determined
          by reference to the last preceding date on which such a trade was so
          reported.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
          the
          preceding paragraph is not applicable as of the date of determination,
          the
          determination of the Fair Market Value of the Common Stock for purposes
          of the
          Plan shall be made by the Committee in its discretion exercised in good
          faith.&#160;&#160;In this respect, the Committee may rely on such financial
          data, valuations, experts, and other sources, in its discretion, as it
          deems
          advisable under the circumstances.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(j)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Grantee</u></strong><strong>.&#160;&#160;</strong>Any
          Employee, Consultant or Outside Director who is granted an Incentive Award
          under
          the Plan.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(k)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Immediate
          Family</u></strong><strong>.</strong>&#160;&#160;With respect to a Grantee, the
          Grantee&#8217;s spouse, children or grandchildren (including legally adopted and step
          children and grandchildren).</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(l)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Incentive
          Award</u></strong><strong>.</strong>&#160;&#160;A grant of an award under the
          Plan to a Grantee, including any Nonstatutory Stock Option, Incentive Stock
          Option,&#160;&#160;Restricted Stock Award, Other Stock-Based Award or
          Performance Award.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(m)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Incentive
          Stock Option or ISO</u></strong><strong>.&#160;&#160;</strong>A Stock Option
          granted by the Committee to an Employee under <a href="#_Ref61425953"><u>Section
          2</u></a> which is designated by the Committee as an Incentive Stock Option
          and
          intended to qualify as an Incentive Stock Option under Section 422 of the
          Code.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(n)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Insider</u></strong><strong>.&#160;&#160;</strong>An
          individual who is, on the relevant date, an officer, director or ten percent
          (10%) beneficial owner of any class of the Company&#8217;s equity securities that is
          registered pursuant to Section 12 of the Exchange Act, all as defined under
          Section 16 of the Exchange Act.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(o)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Nonstatutory
          Stock Option</u></strong><strong>. </strong>A Stock Option granted by the
          Committee to a Grantee under <a href="#_Ref61425994"><u>Section 2</u></a> that
          is not designated by the Committee as an Incentive Stock Option.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(p)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Other
          Stock-Based Award</u></strong><strong>.&#160;&#160;</strong>An award granted by
          the Committee to a Grantee under <u>Section </u><a href="#_Ref61426106"><u>4.1</u></a> that is valued in whole or
          in part by
          reference to, or is otherwise based upon, Common Stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(q)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Outside
          Director</u></strong><strong>.&#160;&#160;</strong>A member of the Board who is
          not, at the time of grant of an Incentive Award, an Employee of the Company
          or
          any Parent or Subsidiary.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(r)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Parent</u></strong><strong>.

</strong>Any
          corporation (whether now or hereafter existing) which constitutes a
&#8220;parent&#8221; of the Company, as defined in Section 424(e) of the Code.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(s)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Performance
          Award</u></strong>. An award granted by the Committee to the Grantee under
<u>Section </u><a href="#_Ref61426125"><u>4.3</u></a>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(t)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Performance-Based
          Exception</u></strong>.&#160;&#160;The performance-based&#160;&#160;exception
          from the tax deductibility limitations of Section 162(m) of the Code, as
          prescribed in Code Section 162(m) and Treasury Regulation Section 1.162-27(e)
          (or its successor), which is applicable during such period that the Company
          is a
          publicly held corporation as defined in Code Section 162(m).</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(u)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Performance
          Criteria</u></strong>. The performance criteria described in <u>Section </u><a href="#_Ref61426125"><u>4.3</u></a><u>&#160;</u>which
          are the basis for
          Performance Goals.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(v)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Performance
          Goal</u></strong>. The performance goal or goals applicable to a Performance
          Award pursuant to <u>Section </u><a href="#_Ref61426125"><u>4.3</u></a> that is
          determined by the Committee and set out in an Award Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(w)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Performance
          Period</u></strong>.&#160;&#160;A period of time, as may be determined in the
          discretion of the Committee and set out in an Award Letter, over which
          performance is measured for the purpose of determining a Grantee&#8217;s right to and
          the payment value of an Incentive Award.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(x)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Performance
          Share or Performance Unit</u></strong>.&#160;&#160;An Incentive Award that is a
          Performance Award under <u>Section </u><a href="#_Ref61426125"><u>4.3</u></a>
          representing a contingent right to receive cash or Shares of Common Stock
          (which
          may be Restricted Stock or&#160;&#160;Restricted Stock units) at the end of a
          Performance Period.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(y)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Restricted
          Stock</u></strong><strong>. </strong>Shares of Common Stock issued or
          transferred to a Grantee pursuant to <a href="#_Ref61426156"><u>Section
          3</u></a>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(z)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Restricted
          Stock Award</u></strong><strong>. </strong>An authorization by the Committee to
          issue or transfer Restricted Stock to a Grantee.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(aa)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Restriction
          Period</u></strong><strong>. </strong>The period of time determined by the
          Committee and set forth in an Award Letter during which the transfer of
          Restricted Stock by the Grantee is restricted.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(bb)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Share</u></strong><strong>.&#160;&#160;</strong>A
          share of the Common Stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(cc)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Stock
          Option or Option</u></strong>.&#160;&#160;Pursuant to <a href="#_Ref61426246"><u>Section 2</u></a>, (i) an Incentive Stock
          Option granted
          to an Employee or (ii) a Nonstatutory Stock Option granted to an Employee,
          Consultant or Outside Director, whereunder such stock option the Grantee
          has the
          right to purchase Shares of Common Stock.&#160;&#160;In accordance with Section
          422 of the Code, only an Employee may be granted an Incentive Stock
          Option.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(dd)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Subsidiary</u></strong><strong>.&#160;&#160;</strong>Any
          corporation (whether now or hereafter existing) which constitutes a &#8220;subsidiary&#8221;
of the Company, as defined in Section 424(f) of the Code.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.3&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Plan
                    Administration</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">With
          respect to awards to eligible Employees, Consultants and Outside Directors,
          the
          Plan shall be administered&#160;&#160;by the Committee as defined in <u>Section
</u><a href="#_Ref99339154"><u>1.2(d)</u></a>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Authority
          of the Committee</u></strong><strong>.&#160;&#160;</strong>Except as may be
          limited by law and subject to the provisions herein, the Committee shall
          have
          full power to (i) select Grantees who shall participate in the Plan; (ii)
          determine the sizes, duration and types of Incentive Awards; (iii) determine
          the
          terms and conditions of Incentive Awards; (iv) determine whether any Shares
          subject to Incentive Awards will be subject to any restrictions on transfer;
          (v)
          construe and interpret the Plan, the terms and conditions of Incentive
          Awards,
          the Award Letter or any agreement entered into under the Plan; and (vi)
          establish, amend, or waive rules for the Plan&#8217;s
          administration.&#160;&#160;Further, the Committee shall make all other
          determinations which may be necessary or advisable for the administration
          of the
          Plan including, without limitation, correcting any defect, supplying any
          omission or reconciling any inconsistency in the Plan or any Award
          Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Decisions
          Binding</u></strong><strong>.&#160;&#160;</strong>All determinations and
          decisions made by the Committee shall be made in its discretion pursuant
          to the
          provisions of the Plan, and shall be final, conclusive and binding on all
          persons including the Company, its Parent and Subsidiaries, and its
          stockholders, Employees, Grantees, and their estates and
          beneficiaries.&#160;&#160;The Committee&#8217;s decisions and determinations with
          respect to any Incentive Award need not be uniform and may be made selectively
          among Incentive Awards and Grantees, whether or not such Incentive Awards
          are
          similar or such Grantees are similarly situated.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Modification
          of Outstanding Incentive Awards; Prohibition on
          Repricing</u></strong><strong>.&#160;&#160;</strong>Subject to the stockholder
          approval requirements of <u>Section </u><a href="#_Ref61426284"><u>6.6</u></a>
          if applicable and except as otherwise provided in <u>Section 4.3</u>, the
          Committee may, in its discretion, provide for the extension of the
          exercisability of an Incentive Award, accelerate the vesting or exercisability
          of an Incentive Award, eliminate or make less restrictive any restrictions
          contained in an Incentive Award, waive any restriction or other provisions
          of an
          Incentive Award, or otherwise amend or modify an Incentive Award in any
          manner
          that is either (i) except as otherwise provided in <u>Section 6.14</u>, not
          adverse to the Grantee to whom such Incentive Award was granted or (ii)
          consented to by such Grantee.&#160;&#160;The Committee may neither (i) amend any
          Option or stock appreciation right (&#8220;SAR&#8221;) to reduce its initial Exercise Price
          or grant price, nor (ii) cancel or replace any Option or SAR with Options
          or
          SARs having a lower Exercise Price or grant price, without the approval
          of the
          stockholders of the Company.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Delegation
          of Authority</u></strong><strong>.&#160;&#160;</strong>The Committee may
          delegate to designated officers or other Employees of the Company any of
          its
          duties under this Plan pursuant to such conditions or limitations as the
          Committee may establish from time to time; provided, however, the Committee
          may
          not delegate to any person the authority to (i) grant Incentive Awards
          to
          Employees who are executive officers, or (ii) take any action which would
          contravene the requirements of Rule&#160;16b-3 under the Exchange Act or the
          Performance-Based Exception under Section 162(m) of the Code.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.4&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Shares
                    of Common Stock Available for Incentive
                    Awards</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Subject
          to adjustment under <u>Section </u><a href="#_Ref61426322"><u>5.5</u></a>, there
          shall be available for Incentive Awards under the Plan that are granted
          wholly
          or partly in Common Stock (including rights or Stock Options that may be
          exercised for or settled in Common Stock) 1,200,000 Shares of Common Stock;
          in
          addition any Shares under any grants or awards under the Bristow 2004 Stock
          Incentive Plan or the Bristow 2003 Nonqualified Plan for Non-Employee Directors
          (the &#8220;Prior Plans&#8221;) that expire or are forfeited, terminated or otherwise
          cancelled or that are settled in cash in lieu of shares shall be available
          for
          Incentive Awards under this Plan.&#160;&#160;Of the total amount of Shares
          available under the Plan, 500,000 of the Shares reserved under the Plan
          shall be
          available for grants based on stock other than as a Stock Option or
          SAR.&#160;&#160;The number of Shares of Common Stock that are the subject of
          Incentive Awards under this Plan that are forfeited or terminated, are
          cancelled, expire unexercised, are settled in cash in lieu of Common Stock
          or
          are exchanged for Incentive Awards that do not involve Common Stock, shall
          again
          immediately become available for Incentive Awards hereunder.&#160;&#160;With
          respect to SARs, when a stock-settled SAR is exercised, the Shares of Common
          Stock subject to the SAR Award Letter shall be counted against the number
          of
          Shares of Common Stock available for future grant or sale under the Plan,
          regardless of the number of Shares of Common Stock used to settle the SAR
          upon
          exercise.&#160;&#160;Shares of Common Stock used to pay the exercise price of a
          Stock Option or used to satisfy tax withholding obligations shall not become
          available for future grant or sale under this Plan.&#160;&#160;The Board and the
          appropriate officers of the Company shall from time to time take whatever
          actions are necessary to file any required documents with governmental
          authorities, stock exchanges and transaction reporting systems to ensure
          that
          Shares are available for issuance pursuant to Incentive Awards.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          following limitations shall apply to grants of Incentive Awards to
          Employees:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Subject
          to adjustment as provided in <u>Section&#160;</u><a href="#_Ref61426362"><u>5.5</u></a>, the maximum aggregate number
          of Shares of
          Common Stock that may be subject to Incentive Awards denominated with respect
          to
          Shares of Common Stock (including Stock Options, Restricted Stock, Other
          Stock-Based Awards, SARs or Performance Awards paid out in Shares) granted
          to an
          Employee in any calendar year shall be 200,000 Shares.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">With
          respect to Incentive Awards denominated with respect to cash (including
          Other
          Stock&#8211;Based Awards or Performance Awards paid out in cash), the maximum
          aggregate cash payout to an Employee in any calendar year shall be
          $5,000,000.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          limitations of subsections <a href="#_Ref61426418">(a)</a> and (b) above shall
          be construed and administered so as to comply with the Performance-Based
          Exception.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.5&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Common
                    Stock Available.</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Common Stock available for issuance or transfer under the Plan shall be
          made
          available from (a) Shares now or hereafter held in the treasury of the
          Company,
          (b)&#160;&#160;authorized but unissued Shares, or (c) Shares to be purchased or
          acquired by the Company; provided, however, the Company shall not use cash
          proceeds from the exercise of Options granted under the Plan to purchase
          Shares
          in a non-private transaction for issuance or transfer under the
          Plan.&#160;&#160;No fractional shares shall be issued under the Plan; payment
          for fractional shares shall be made in cash.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.6&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Participation</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Eligibility</u></strong><strong>.&#160;&#160;</strong>Employees,
          Consultants and/or Outside Directors may become eligible for Incentive
          Awards.&#160;&#160;The Committee shall from time to time designate those
          Employees, Consultants and/or Outside Directors, if any, to be granted
          Incentive
          Awards under the Plan, the type of Incentive Awards granted, the number
          of
          Shares covered by the Incentive Award granted to each such person, and
          any other
          terms or conditions relating to the Incentive Awards as it may deem appropriate
          to the extent not inconsistent with the provisions of the Plan.&#160;&#160;A
          Grantee who has been granted an Incentive Award may, if otherwise eligible,
          be
          granted additional Incentive Awards at any time.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Incentive
          Stock Option Eligibility</u></strong><strong>.&#160;&#160;</strong>No Consultant
          or Outside Director shall be eligible for the grant of any Incentive Stock
          Option.&#160;&#160;In addition, no Employee shall be eligible for the grant of
          any Incentive Stock Option who owns or would own immediately before the
          grant of
          such Incentive Stock Option, directly or indirectly, stock possessing more
          than
          ten percent (10%) of the total combined voting power of all classes of
          stock of
          the Company, or any Parent or Subsidiary.&#160;&#160;This restriction does not
          apply if, at the time such Incentive Stock Option is granted, the Exercise
          Price
          with respect to the Incentive Stock Option is at least one hundred and
          ten
          percent (110%) of the Fair Market Value on the date of grant and the Incentive
          Stock Option by its terms is not exercisable after the expiration of five
          (5)
          years from the date of grant.&#160;&#160;For the purpose of the immediately
          preceding sentence, the attribution rules of Section 424(d) of the Code
          shall
          apply for the purpose of determining an Employee&#8217;s percentage ownership in the
          Company or any Parent or Subsidiary.&#160;&#160;This paragraph shall be
          construed consistent with the requirements of Section 422 of the
          Code.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>SECTION
          2.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>STOCK
          OPTIONS</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>2.1&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Grant
                    of Stock Options</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Committee is authorized to grant (a) Nonstatutory Stock Options to Employees,
          Consultants and/or Outside Directors and (b) Incentive Stock Options to
          Employees only in accordance with the terms and conditions of the Plan,
          and with
          such additional terms and conditions, not inconsistent with the Plan, as
          the
          Committee shall determine in its discretion.&#160;&#160;Successive grants may be
          made to the same Grantee whether or not any Stock Option previously granted
          to
          such person remains unexercised.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>2.2&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Stock
                    Option Terms</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Award
          Letter</u></strong><strong>.&#160;&#160;</strong>Each grant of a Stock Option
          shall be evidenced by an Award Letter.&#160;&#160;Among its other terms and
          conditions, each Award Letter shall set forth the extent to which the Grantee
          shall have the right to exercise the Stock Option following termination
          of the
          Grantee&#8217;s Employment.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Number
          of Shares</u></strong><strong>.&#160;&#160;</strong>Each award of a Stock Option
          shall specify the number of Shares of Common Stock to which it
          pertains.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Exercise
          Price</u></strong><strong>.&#160;&#160;</strong>The price at which a share of
          Common Stock may be purchased pursuant to&#160;&#160;each Stock Option (the
&#8220;Exercise Price&#8221;) shall be determined by the Committee; provided, however, that
          the Exercise Price shall not be less than one hundred percent (100%) of
          the Fair
          Market Value per Share on the date the Stock Option is granted (110% for
          an
          Incentive Stock Option granted to 10% or greater stockholders pursuant
          to
<u>Section </u><a href="#_Ref61426550"><u>1.6(b)</u></a>). Each Stock Option
          shall specify the method of exercise which shall be consistent with the
          requirements of <u>Section </u><a href="#_Ref61426568"><u>2.3(a)</u></a>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Term</u></strong><strong>.&#160;&#160;</strong>In
          the Award Letter, the Committee shall fix the term of each Stock Option
          (which
          shall be not more than ten (10) years from the date of grant or, for ISO
          grants
          to ten percent (10%) or greater stockholders pursuant to <u>Section </u><a href="#_Ref61426550"><u>1.6(b)</u></a>, five (5) years from the
          date of
          grant).&#160;&#160;In the event no term is fixed, such term shall be ten (10)
          years from the date of grant.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Exercise</u></strong><strong>.&#160;&#160;</strong>The
          Committee shall determine the time or times at which a Stock Option may
          be
          exercised in whole or in part.&#160;&#160;Each Stock Option may specify the
          required period of continuous Employment and/or the performance objectives
          to be
          achieved before the Stock Option or portion thereof will become
          exercisable.&#160;&#160;Each Stock Option, the exercise of which, or the timing
          of the exercise of which, is dependent, in whole or in part, on the achievement
          of designated performance objectives, may specify a minimum level of achievement
          in respect of the specified performance objectives below which no Stock
          Options
          will be exercisable and a method for determining the number of Stock Options
          that will be exercisable if performance is at or above such minimum but
          short of
          full achievement of the performance objectives.&#160;&#160;All such terms and
          conditions shall be set forth in the Award Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>2.3&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Stock
                    Option Exercises</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Method
          of Exercise and Payment</u></strong><strong>.&#160;&#160;</strong>Stock Options
          shall be exercised by the delivery of a written or electronic notice of
          exercise
          to the Company as of a date set by the Company in advance of the effective
          date
          of the proposed exercise.&#160;&#160;The notice shall set forth the number of
          Shares with respect to which the Option is to be exercised, accompanied
          by full
          payment for the Shares.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Exercise Price shall be payable to the Company in full in cash or its
          equivalent, or subject to prior approval by the Committee in its discretion,
          (i)
          by tendering previously acquired Shares having an aggregate Fair Market
          Value at
          the time of exercise equal to the total Exercise Price, (ii) by withholding
          Shares which otherwise would be acquired on exercise having an aggregate
          Fair
          Market Value at the time of exercise equal to the total Exercise Price,
          or (iii)
          by a combination of (i) and (ii) above.&#160;&#160;Any payment in Shares shall
          be effected by the surrender of such Shares to the Company in good form
          for
          transfer and shall be valued at their Fair Market Value on the date when
          the
          Stock Option is exercised.&#160;&#160;Unless otherwise permitted by the
          Committee in its discretion, the Grantee shall not surrender, or attest
          to the
          ownership of, Shares in payment of the Exercise Price if such action would
          cause
          the Company to recognize compensation expense (or additional compensation
          expense) with respect to the Stock Option for financial reporting
          purposes.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">As
          soon
          as practicable after receipt of notification of exercise and full payment,
          the
          Company shall deliver, or cause to be delivered, to or on behalf of the
          Grantee,
          in the name of the Grantee or other appropriate recipient, Share certificates
          for the number of Shares purchased under the Stock Option.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Subject
          to <u>Section </u><a href="#_Ref61426608"><u>5.2</u></a>, during the lifetime of
          a Grantee, each Option granted to him shall be exercisable only by the
          Grantee
          (or his legal guardian in the event of his disability) or by a broker-dealer
          acting on his behalf pursuant to a cashless exercise under the foregoing
          provisions of this <u>Section </u><a href="#_Ref61426568"><u>2.3(a)</u></a>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Restrictions
          on Share Transferability</u></strong><strong>.&#160;&#160;</strong>The Committee
          may impose such restrictions on any grant of Stock Options or on any Shares
          acquired pursuant to the exercise of a Stock Option as it may deem advisable,
          including, without limitation, restrictions under (i) any buy/sell agreement
          or
          right of first refusal, non-competition, and any other agreement between
          the
          Company and any of its securities holders or Employees, (ii) any applicable
          federal securities laws, (iii) the requirements of any stock exchange or
          market
          upon which such Shares are then listed and/or traded, or (iv) any blue
          sky or
          state securities law applicable to such Shares.&#160;&#160;Any certificate
          issued to evidence Shares issued upon the exercise of an Incentive Award
          may
          bear such legends and statements as the Committee shall deem advisable
          to assure
          compliance with federal and state laws and regulations.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Any
          Grantee or other person exercising an Incentive Award may be required by
          the
          Committee to give a written representation that the Incentive Award and
          the
          Shares subject to the Incentive Award will be acquired for investment and
          not
          with a view to public distribution; provided, however, that the Committee,
          in
          its sole discretion, may release any person receiving an Incentive Award
          from
          any such representations either prior to or subsequent to the exercise
          of the
          Incentive Award.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Notification
          of Disqualifying Disposition of Shares from Incentive Stock
          Options</u></strong><strong>.</strong>&#160;&#160;Notwithstanding any other
          provision of the Plan, a Grantee who disposes of Shares of Common Stock
          acquired
          upon the exercise of an Incentive Stock Option by a sale or exchange either
          (i)
          within two (2) years after the date of the grant of the Incentive Stock
          Option
          under which the Shares were acquired or (ii) within one (1) year after
          the
          transfer of such Shares to him pursuant to exercise, shall promptly notify
          the
          Company of such disposition, the amount realized and his adjusted basis
          in such
          Shares.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Proceeds
          of Option Exercise</u></strong><strong>.&#160;&#160;</strong>The proceeds
          received by the Company from the sale of Shares pursuant to Stock Options
          exercised under the Plan shall be used for general corporate
          purposes.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>SECTION
          3.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>RESTRICTED
          STOCK</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>3.1&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Award
                    of Restricted Stock</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Grant</u></strong><strong>.&#160;&#160;</strong>In
          consideration of the performance of services by any Grantee who is an Employee,
          Consultant or Outside Director, Shares of Restricted Stock may be awarded
          under
          the Plan by the Committee with such restrictions during the Restriction
          Period
          as the Committee may designate in its discretion, any of which restrictions
          may
          differ with respect to each particular Grantee.&#160;&#160;Restricted Stock may,
          at the discretion of the Committee, be awarded upon the satisfaction of
          performance objectives.&#160;&#160;The award or vesting of Restricted Stock may
          also, at the discretion of the Committee, be conditioned upon the achievement
          of
          Performance Goals in the same manner as provided in <u>Section 4.3</u> with
          respect to Performance Awards.&#160;&#160;Restricted Stock shall be awarded for
          no additional consideration or such additional consideration as the Committee
          may determine, which consideration may be less than, equal to or more than
          the
          Fair Market Value of the shares of Restricted Stock on the grant
          date.&#160;&#160;The terms and conditions of each grant of Restricted Stock
          shall be evidenced by an Award Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Immediate
          Transfer Without Immediate Delivery of Restricted
          Stock</u></strong><strong>.</strong>&#160;&#160;Unless otherwise specified in
          the Grantee&#8217;s Award Letter, each Restricted Stock Award shall constitute an
          immediate transfer of the record and beneficial ownership of the Shares
          of
          Restricted Stock to the Grantee in consideration of the performance of
          services
          entitling such Grantee to all voting and other ownership rights in such
          Shares.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">As
          specified in the Award Letter, a Restricted Stock Award may limit the Grantee&#8217;s
          dividend rights during the Restriction Period in which the Shares of Restricted
          Stock are subject to a &#8220;substantial risk of forfeiture&#8221; (within the meaning
          given to such term under Code Section 83) and restrictions on
          transfer.&#160;&#160;In the Award Letter, the Committee may apply any
          restrictions to the dividends that the Committee deems appropriate.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Shares
          awarded pursuant to a grant of Restricted Stock may be issued in the name
          of the
          Grantee and held, together with a stock power endorsed in blank, by the
          Committee or Company (or their delegates) or in trust or in escrow pursuant
          to
          an agreement satisfactory to the Committee, until such time as the restrictions
          on transfer have expired.&#160;&#160;All such terms and conditions shall be set
          forth in the particular Grantee&#8217;s Award Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>3.2&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Restrictions</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Forfeiture
          of Restricted Stock</u></strong><strong>.&#160;&#160;</strong>Unless otherwise
          specified by the Committee in the Award Letter, the Restricted Stock that
          is
          subject to restrictions which are not satisfied shall be forfeited and
          all
          rights of the Grantee to such Shares shall terminate.&#160;&#160;Restrictions
          shall be set forth in the particular Grantee&#8217;s Award Letter and may lapse upon
          the satisfaction of performance objectives.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Removal
          of Restrictions</u></strong><strong>.&#160;&#160;</strong>The Committee, in its
          discretion, shall have the authority to remove any or all of the restrictions
          on
          the Restricted Stock if it determines that, by reason of a change in applicable
          law or another change in circumstance arising after the grant date of the
          Restricted Stock, such action is appropriate.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>3.3&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Delivery
                    of Shares of Common Stock</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Subject
          to withholding taxes under <u>Section&#160;</u><a href="#_Ref61426682"><u>6.2</u></a> and to the terms of the Award
          Letter, a
          stock certificate evidencing the Shares of Restricted Stock with respect
          to
          which the restrictions in the Award Letter have been satisfied shall be
          delivered to the Grantee or other appropriate recipient free of
          restrictions.&#160;&#160;Such delivery shall be effected for all purposes when
          the Company shall have deposited such certificate in the United States
          mail,
          addressed to the Grantee or other appropriate recipient.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>SECTION
          4.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>OTHER
          STOCK-BASED AWARDS AND PERFORMANCE AWARDS</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4.1&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Grant
                    of Other Stock-Based
                    Awards</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Other
          Stock-Based Awards may be awarded by the Committee to selected Grantees
          that are
          denominated or payable in, valued in whole or in part by reference to,
          or
          otherwise related to, Shares of Common Stock, as deemed by the Committee
          to be
          consistent with the purposes of the Plan and the goals of the
          Company.&#160;&#160;Other Stock-Based Awards include, without limitation, SARs,
          purchase rights, Shares of Common Stock awarded which are not subject to
          any
          restrictions or conditions, convertible or exchangeable debentures, other
          rights
          convertible into Shares, Incentive Awards valued by reference to the value
          of
          securities of, or the performance of, the Company or a specified Subsidiary,
          division or department, and settlement in cancellation of rights of any
          person
          with a vested interest in any other plan, fund, program or arrangement
          that is
          or was sponsored, maintained or participated in by the Company or any Parent
          or
          Subsidiary.&#160;&#160;As is the case with other Incentive Awards, Other
          Stock-Based Awards may be awarded either alone or in addition to or in
          tandem
          with any other Incentive Awards.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4.2&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Other
                    Stock-Based Award Terms</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Award
          Letter</u></strong><strong>.&#160;&#160;</strong>The terms and conditions of
          each grant of an Other Stock-Based Award shall be evidenced by an Award
          Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Purchase
          Price</u></strong><strong>.&#160;&#160;</strong>Except to the extent that an
          Other Stock-Based Award is granted in substitution for an outstanding Incentive
          Award or is delivered upon exercise of a Stock Option, the amount of
          consideration required to be received by the Company shall be either (i)
          no
          consideration other than services actually rendered (in the case of authorized
          and unissued shares) or to be rendered, or (ii) in the case of an Other
          Stock-Based Award in the nature of a purchase right, consideration (other
          than
          services rendered or to be rendered) at least equal to fifty percent (50%)
          of
          the Fair Market Value of the Shares covered by such grant on the date of
          grant
          (or such other percentage higher than 50% that is required by applicable
          tax or
          securities law).&#160;&#160;Notwithstanding the foregoing, with respect to an
          Incentive Award for a SAR, the exercise price per share of Common Stock
          covered
          by the SAR shall not be less than one hundred percent (100%) of Fair Market
          Value of a share of Common Stock on the date of the grant of the
          SAR.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Performance
          Criteria and Other Terms</u></strong>.&#160;&#160;In its discretion, the
          Committee may specify such criteria, periods or goals for the grant or
          vesting
          in Other Stock-Based Awards and payment thereof to the Grantee as it shall
          determine; and the extent to which such criteria, periods or goals have
          been met
          shall be determined by the Committee.&#160;&#160;The grant, vesting or payment
          of Other Stock-Based Awards may also, at the discretion of the Committee,
          be
          conditioned upon the achievement of Performance Goals in the same manner
          as
          provided in <u>Section 4.3</u> with respect to Performance
          Awards.&#160;&#160;All terms and conditions of Other Stock-Based Awards shall be
          determined by the Committee and set forth in the Award Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Payment</u></strong><strong>.&#160;&#160;</strong>Other
          Stock-Based Awards may be paid in Shares of Common Stock or other consideration,
          including cash, related to such Shares, in a single payment or in installments
          on such dates as determined by the Committee, all as specified in the Award
          Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Dividends</u></strong><strong>.&#160;&#160;</strong>The
          Grantee of an Other Stock-Based Award shall not be entitled to receive,
          currently or on a deferred basis, dividends or dividend equivalents with
          respect
          to the number of Shares covered by the Other Stock-Based Award, unless
          (and to
          the extent) otherwise determined by the Committee and set forth in the
          Award
          Letter.&#160;&#160;The Committee may also provide in the Award Letter that the
          amounts of any dividends or dividend equivalent shall be deemed to have
          been
          reinvested in additional Shares of Common Stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4.3&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Performance
                    Awards</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Grant</u></strong>.
          The Committee is authorized to grant Performance Awards to selected Grantees
          who
          are Employees or Consultants.&#160;&#160;Performance Awards may be by reference
          to Performance Shares or Performance Units, and may at the discretion of
          the
          Committee, be awarded upon the satisfaction of Performance Goals.&#160;&#160;The
          vesting or settlement of Performance Awards may also, in the discretion
          of the
          Committee, be conditioned upon the achievement of Performance
          Goals.&#160;&#160;Each grant of Performance Awards shall be evidenced by an
          Award Letter in such amounts and upon such terms as shall be determined
          by the
          Committee.&#160;&#160;When the Committee desires a Performance Award to qualify
          for the Performance-Based Exception, the Committee shall establish the
          Performance Goals for the respective Performance Award prior to or within
          90
          days of the beginning of the Performance Period relating to such Performance
          Goal, or at such other date as may be permitted or required for the
          Performance-Based Exception, and not later than after 25 percent of such
          Period
          has elapsed, and such Performance Goals shall otherwise comply with the
          requirements of the Performance-Based Exception.&#160;&#160;For all other
          Performance Awards, the Performance Goals must be established before the
          end of
          the respective Performance Period.&#160;&#160;The Committee may make grants of
          Performance Awards in such a manner that more than one Performance Period
          is in
          progress concurrently. For each Performance Period, the Committee shall
          establish the number of Performance Awards and their contingent values
          which may
          vary depending on the degree to which Performance Criteria established
          by the
          Committee are met.&#160;&#160;The Committee shall have the power to impose such
          other restrictions on Performance Awards intended to qualify for the
          Performance-Based Exception as it may deem necessary or appropriate to
          ensure
          that such Performance Awards satisfy all the requirements to qualify for
          the
          Performance-Based Exception.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Performance
          Criteria</u></strong>. The Committee may establish Performance Goals applicable
          to Performance Awards based upon the Performance Criteria and other factors
          set
          forth below in one or more of the following categories: (i) performance
          of the
          Company as a whole, (ii) performance of a segment of the Company&#8217;s business, and
          (iii) individual performance and either as an absolute measure or as a
          measure
          of comparative performance relative to a peer group of companies, an index,
          budget, prior period, or other standard selected by the
          Committee.&#160;&#160;Performance Criteria for the Company shall relate to the
          achievement of predetermined financial and operating objectives for the
          Company
          and its Subsidiaries on a consolidated basis. Performance Criteria for
          a segment
          of the Company&#8217;s business shall relate to the achievement of financial and
          operating objectives of the segment for which the Grantee is
          accountable.&#160;&#160;&#8220;Performance Criteria&#8221; means one or more of the
          following measures: sales, free cash flow, revenue, pre-tax or after-tax
          profit
          levels, including: earnings per share, operating earnings, earnings before
          interest and taxes, earnings before interest, taxes, depreciation and
          amortization, net operating profits after tax, and net income; total stockholder
          return; return on assets, equity, capital or investment; cash flow and
          cash flow
          return on investment; economic value added and economic profit; growth
          in
          earnings per share, debt to equity ratio, market share, price per share
          of
          Common Stock, economic value added and market value added; levels of operating
          expense and maintenance expense or measures of customer satisfaction and
          customer service as determined from time to time including the relative
          improvement therein; safety measurements including:&#160;&#160;total recordable
          incident rate to labor hours ratios, lost time accidents to labor hours
          ratios,
          or flight accidents to flight hours ratios; or such similar objectively
          determinable financial or other measures as may be adopted by the Committee.
          Individual Performance Criteria shall relate to a Grantee&#8217;s overall performance,
          taking into account, among other measures of performance, the attainment
          of
          individual goals and objectives. The Performance Goals may differ among
          Grantees, including among similarly situated Grantees.&#160;&#160;Performance
          Criteria shall be calculated in accordance with the Company&#8217;s financial
          statements or generally accepted accounting principles, on an operating
          basis,
          or under a methodology established by the Committee prior to the issuance
          of a
          Performance Award that is consistently applied and identified.&#160;&#160;In
          establishing a Performance Goal applicable to a Performance Award, the
          Committee
          may provide that the attainment of the Performance Goal shall be measured
          by
          appropriately adjusting the evaluation of Performance Goal achievement
          to
          exclude (i) any extraordinary non-recurring items as described in Accounting
          Principles Board Opinion No. 30 and/or in management&#8217;s discussion and analysis
          of financial condition and results of operations appearing in the Company&#8217;s
          annual report to stockholders for the applicable year, or (ii) the effect
          of any
          changes in accounting principles affecting the Company&#8217;s, a Subsidiary&#8217;s or a
          business segment&#8217;s reported results.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Modification</u></strong>.&#160;&#160;&#160;If
          the Committee determines, in its discretion exercised in good faith, that
          the
          established Performance Goals are no longer suitable to the Company&#8217;s objectives
          because of a change in the Company&#8217;s business, operations, corporate structure,
          capital structure, or other conditions the Committee deems to be appropriate,
          the Committee may modify the Performance Goals to the extent it considers
          such
          modification to be necessary; provided, however, no such modification shall
          be
          made with respect to any Performance Award that is intended to qualify
          for the
          Performance-Based Exception unless (i) such modification is made no later
          than
          the deadline established under Code Section 162(m), and (ii) no Performance
          Award is paid under the modified Performance Goal until after the material
          terms
          of the modified Performance Goal are disclosed to and approved by the Company&#8217;s
          stockholders to the extent required by Code Section 162(m).</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Payment</u></strong>.&#160;&#160;The
          basis for the grant, vesting or payment, as applicable, of Performance
          Awards
          for a given Performance Period shall be the achievement of those Performance
          Goals determined by the Committee as specified in the Grantee&#8217;s Award
          Letter.&#160;&#160;If minimum performance is not achieved for a Performance
          Period, no payment shall be made and all contingent rights under the Performance
          Award shall cease.&#160;&#160;At any time prior to the payment of a Performance
          Award, unless otherwise provided by the Committee or prohibited by the
          Plan, the
          Committee shall have the authority to reduce or eliminate the amount payable
          with respect to the Performance Award, or to cancel any part or all
          of&#160;&#160;the Performance Award but, with respect to Performance Awards
          intended to qualify for the Performance-Based Exception, shall not have
          the
          authority in its discretion to increase the amount payable with respect
          to the
          Performance Award except as permitted under <u>Section 5.5</u>.&#160;&#160;With
          respect to Performance Awards intended to qualify for the Performance-Based
          Exception, the Committee may not waive the achievement of the applicable
          Performance Goal except to the extent provided in the respective Award
          Letter
          upon the death or disability of the Grantee or a change in control of the
          Company.&#160;&#160;The Committee&#8217;s determination with respect to a Performance
          Period of whether and to what extent a Performance Goal has been achieved,
          and,
          if so, of the amount of the Performance Award earned for the Performance
          Period
          shall be final and binding on the Company and all Grantees, and, with respect
          to
          Performance Awards that are intended to qualify for the Performance-Based
          Exception, these determinations shall be certified in writing before such
          Performance Awards are paid.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>SECTION
          5.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>PROVISIONS
          RELATING TO PLAN PARTICIPATION</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.1&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Plan
                    Conditions</font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Award
          Letter</u></strong><strong>.&#160;&#160;</strong>Each Grantee to whom an
          Incentive Award is granted shall be provided an Award Letter by the Company,
          in
          such form as is provided by the Committee.&#160;&#160;The Award Letter shall
          contain specific terms as determined by the Committee, in its discretion,
          with
          respect to the Grantee&#8217;s particular Incentive Award.&#160;&#160;Such terms need
          not be uniform among all Grantees or any similarly situated
          Grantees.&#160;&#160;The Award Letter may include, without limitation, vesting,
          forfeiture and other provisions particular to the particular Grantee&#8217;s Incentive
          Award, as well as, for example, provisions to the effect that the Grantee
          (i)
          shall not disclose any confidential information acquired during Employment
          with
          the Company, (ii) shall abide by all the terms and conditions of the Plan
          and
          such other terms and conditions as may be imposed by the Committee, (iii)
          shall
          not interfere with the employment or other service of any Employee, (iv)
          shall
          not compete with the Company or become involved in a conflict of interest
          with
          the interests of the Company, (v) shall forfeit an Incentive Award if terminated
          for Cause, (vi) shall not be permitted to make an election under Section
          83(b)
          of the Code when applicable, and (vii) shall be subject to any other agreement
          between the Grantee and the Company regarding Shares that may be acquired
          under
          an Incentive Award including, without limitation, an agreement restricting
          the
          transferability of Shares by Grantee.&#160;&#160;An Award Letter shall include
          such terms and conditions as are determined by the Committee, in its discretion,
          to be appropriate with respect to any individual
          Grantee.&#160;&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>No
          Right to Employment</u></strong><strong>.&#160;&#160;</strong>Nothing in the
          Plan or any instrument executed pursuant to the Plan shall create any Employment
          rights (including without limitation, rights to continued Employment) in
          any
          Grantee or affect the right of the Company to terminate the Employment
          of any
          Grantee at any time without regard to the existence of the Plan.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Securities
          Requirements</u></strong><strong>.&#160;&#160;</strong>The Company shall be
          under no obligation to effect the registration pursuant to the Securities
          Act of
          1933 of any Shares of Common Stock to be issued hereunder or to effect
          similar
          compliance under any state laws.&#160;&#160;Notwithstanding anything herein to
          the contrary, the Company shall not be obligated to cause to be issued
          or
          delivered any certificates evidencing Shares pursuant to the Plan unless
          and
          until the Company is advised by its counsel that the issuance and delivery
          of
          such certificates is in compliance with all applicable laws, regulations
          of
          governmental authorities, and the requirements of any securities exchange
          on
          which Shares are traded.&#160;&#160;The Committee may require, as a condition of
          the issuance and delivery of certificates evidencing Shares of Common Stock
          pursuant to the terms hereof, that the recipient of such Shares make such
          covenants, agreements and representations, and that such certificates bear
          such
          legends, as the Committee, in its discretion, deems necessary or
          desirable.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.2&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Transferability
                    and Exercisability</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Incentive
          Awards granted under the Plan shall not be transferable or assignable other
          than: (a) by will or the laws of descent and distribution or (b) pursuant
          to a
          qualified domestic relations order (as defined by Section 414(p) of the
          Code);
          provided, however, only with respect to Incentive Awards of Nonstatutory
          Stock
          Options, the Committee may, in its discretion, authorize all or a portion
          of the
          Nonstatutory Stock Options to be granted on terms which permit transfer
          by the
          Grantee to (i)&#160;the members of the Grantee&#8217;s Immediate Family, (ii)&#160;a
          trust or trusts for the exclusive benefit of such Immediate Family (except
          that
          the Grantee may also be a beneficiary of such trust), or (iii) a partnership
          in
          which such members of such Immediate Family are the only partners (except
          that
          Grantee may also be a partner), provided that (A)&#160;there may be no
          consideration for any such transfer, (B)&#160;the Award Letter pursuant to which
          such Nonstatutory Stock Options are granted must be approved by the Committee,
          and must expressly provide for transferability in a manner consistent with
          this
          Section&#160;<a href="#_Ref61426737">5.2</a>, and (C)&#160;subsequent transfers
          of transferred Options shall be prohibited except in accordance with clauses
          (a)
          and (b) (above) of this sentence.&#160;&#160;Following any permitted transfer,
          any Incentive Award shall continue to be subject to the same terms and
          conditions as were applicable immediately prior to transfer, provided that
          the
          term &#8220;Grantee&#8221; shall be deemed to refer to the transferee.&#160;&#160;The
          termination of Employment events in the Award Letter shall continue to
          be
          applied with respect to the original Grantee, and the Incentive Award shall
          be
          exercisable by the transferee only to the extent, and for the periods,
          specified
          in the Award Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Except
          as
          may otherwise be permitted under the Code, in the event of a permitted
          transfer
          of a Nonstatutory Stock Option hereunder, the original Grantee shall remain
          subject to withholding taxes upon exercise.&#160;&#160;In addition, the Company
          shall have no obligation to provide any notices to a transferee including,
          for
          example, of the termination of an Incentive Award following the original
          Grantee&#8217;s termination of Employment.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
          the
          event that a Grantee terminates Employment with the Company to assume a
          position
          with a governmental, charitable, educational or other nonprofit institution,
          the
          Committee may, in its discretion, subsequently authorize a third party,
          including but not limited to a &#8220;blind&#8221; trust, to act on behalf of and for the
          benefit of such Grantee regarding any outstanding Incentive Awards held
          by the
          Grantee subsequent to such termination of Employment.&#160;&#160;If so permitted
          by the Committee, a Grantee may designate a beneficiary or beneficiaries
          to
          exercise the rights of the Grantee and receive any distribution under the
          Plan
          upon the death of the Grantee.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">No
          transfer by will or by the laws of descent and distribution shall be effective
          to bind the Company unless the Committee has been furnished with a copy
          of the
          deceased Grantee&#8217;s enforceable will or such other evidence as the Committee
          deems necessary to establish the validity of the transfer.&#160;&#160;Any
          attempted transfer in violation of this Section <a href="#_Ref61426768">5.2</a>
          shall be void and ineffective.&#160;&#160;All determinations under this Section
<a href="#_Ref61426783">5.2</a> shall be made by the Committee in its
          discretion.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.3&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Rights
                    as a Stockholder</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>No
          Stockholder Rights</u></strong><strong>.&#160;&#160;</strong>Except as otherwise
          provided in <u>Section&#160;</u><a href="#_Ref61426803"><u>3.1(b)</u></a> for
          grants of Restricted Stock, a Grantee of an Incentive Award (or a permitted
          transferee of such Grantee) shall have no rights as a stockholder with
          respect
          to any Shares of Common Stock until the issuance of a stock certificate
          for such
          Shares.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Representation
          of Ownership</u></strong><strong>.&#160;&#160;</strong>In the case of the
          exercise of an Incentive Award by a person or estate acquiring the right
          to
          exercise such Incentive Award by reason of the death or disability of a
          Grantee,
          the Committee may require reasonable evidence as to the ownership of such
          Incentive Award or the authority of such person and may require such consents
          and releases of taxing authorities as the Committee may deem
          advisable.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.4&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Listing
                    and Registration of Shares of Common
                    Stock</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          exercise of any Incentive Award granted hereunder shall only be effective
          at
          such time as counsel to the Company shall have determined that the issuance
          and
          delivery of Shares of Common Stock pursuant to such exercise is in compliance
          with all applicable laws, regulations of governmental authorities and the
          requirements of any securities exchange on which Shares of Common Stock
          are
          traded.&#160;&#160;The Committee may, in its discretion, defer the effectiveness
          of any exercise of an Incentive Award in order to allow the issuance of
          Shares
          of Common Stock to be made pursuant to a registration statement, or an
          exemption
          from registration, or other methods for compliance available under federal
          or
          state securities laws.&#160;&#160;The Committee shall inform the Grantee in
          writing or electronically of its decision to defer the effectiveness of
          the
          exercise of an Incentive Award.&#160;&#160;During the period that the
          effectiveness of the exercise of an Incentive Award has been deferred,
          the
          Grantee may, by written or electronic notice to the Committee, as permitted
          by
          the Committee in its discretion, withdraw such exercise and obtain the
          refund of
          any amount paid with respect thereto.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.5&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Change
                    in Stock and Adjustments</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Changes
          in Law or Circumstances</u></strong><strong>.</strong>&#160;&#160;In the event
          of any change in applicable law or any change in circumstances which results
          in
          or would result in any dilution of the rights granted under the Plan, or
          which
          otherwise warrants an equitable adjustment because it interferes with the
          intended operation of the Plan, then, if the Committee should so determine,
          in
          its absolute discretion, that such change equitably requires an adjustment
          in
          the number or kind of shares of stock or other securities or property
          theretofore subject, or which may become subject, to issuance or transfer
          under
          the Plan or in the terms and conditions of outstanding Incentive Awards,
          such
          adjustment shall be made in accordance with such determination.&#160;&#160;Such
          adjustments may include changes with respect to (i) the aggregate number
          of
          Shares that may be issued under the Plan and that are subject to the special
          limits under <u>Section 1.4</u>, (ii) the number of Shares subject to Incentive
          Awards, and (iii) the Exercise Price or other price per Share for outstanding
          Incentive Awards.&#160;&#160;Any adjustment under this paragraph of an
          outstanding Incentive Stock Option shall be made only to the extent permitted
          under Code Section 424 and not constituting a &#8220;modification&#8221; within the meaning
          of Section 424(h)(3) of the Code unless otherwise agreed to by the Grantee
          in
          writing or electronically.&#160;&#160;The Committee shall give notice to each
          applicable Grantee of such adjustment which shall be effective and
          binding.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Exercise
          of Corporate Powers</u></strong><strong>.</strong>&#160;&#160;The existence of
          the Plan or outstanding Incentive Awards hereunder shall not affect in
          any way
          the right or power of the Company or its stockholders to make or authorize
          any
          or all adjustments, recapitalization, reorganization or other changes in
          the
          Company&#8217;s capital structure or its business or any merger or consolidation of
          the Company, or any issue of bonds, debentures, preferred or prior preference
          stocks ahead of or affecting the Common Stock or the rights thereof, or
          the
          dissolution or liquidation of the Company, or any sale or transfer of all
          or any
          part of its assets or business, or any other corporate act or proceeding
          whether
          of a similar character or otherwise.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Recapitalization
          of the Company</u></strong><strong>.</strong>&#160;&#160;If while there are
          Incentive Awards outstanding, the Company shall effect any subdivision
          or
          consolidation of Shares of Common Stock or other capital readjustment,
          the
          payment of a stock dividend, stock split, combination of Shares,
          recapitalization or other increase or reduction in the number of Shares
          outstanding, without receiving compensation therefor in money, services
          or
          property, then the number of Shares available under the Plan and that are
          subject to the special limits under <u>Section 1.4</u> and the number of Shares,
          Exercise Price and Fair Market Value of Incentive Awards shall (i) in the
          event
          of an increase in the number of Shares outstanding, be proportionately
          increased
          and the Exercise Price or Fair Market Value of the Incentive Awards awarded
          shall be proportionately reduced; and (ii) in the event of a reduction
          in the
          number of Shares outstanding, be proportionately reduced, and the Exercise
          Price
          or Fair Market Value of the Incentive Awards awarded shall be proportionately
          increased.&#160;&#160;The Committee shall take such action and whatever other
          action it deems appropriate, in its discretion, so that the value of each
          outstanding Incentive Award to the Grantee shall not be adversely affected
          by a
          corporate event described in this subsection <a href="#_Ref99267056">(c)</a>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Issue
          of Common Stock by the Company</u></strong><strong>.</strong>&#160;&#160;Except
          as hereinabove expressly provided in this <u>Section </u><a href="#_Ref61426892"><u>5.5</u></a>, the issue by the Company
          of shares of stock
          of any class, or securities convertible into shares of stock of any class,
          for
          cash or property, or for labor or services, either upon direct sale or
          upon the
          exercise of rights or warrants to subscribe therefor, or upon any conversion
          of
          shares or obligations of the Company convertible into such shares or other
          securities, shall not affect, and no adjustment by reason thereof shall
          be made
          with respect to, the number of, or Exercise Price or Fair Market Value
          of, any
          Incentive Awards then outstanding under previously granted Incentive Awards;
          provided, however, in such event, outstanding Shares of Restricted Stock
          shall
          be treated the same as outstanding unrestricted Shares of Common
          Stock.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(e)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Assumption
          under the Plan of Outstanding Stock Options</u></strong><strong>.</strong>
          Notwithstanding any other provision of the Plan, the Committee, in its
          absolute
          discretion, may authorize the assumption and continuation under the Plan
          of
          outstanding and unexercised stock options or other types of stock-based
          incentive awards that were granted under a stock option plan (or other
          type of
          stock incentive plan or agreement) that is or was maintained by a newly
          acquired
          or currently owned corporation or other entity that was merged into,
          restructured, consolidated with, or whose stock or assets were acquired
          by, the
          Company or a Subsidiary of the Company as the surviving
          corporation.&#160;&#160;Any such action shall be upon such terms and conditions
          as the Committee, in its discretion, may deem appropriate, including provisions
          to preserve the holder&#8217;s rights under the previously granted and unexercised
          stock option or other stock-based incentive award, such as, for example,
          retaining an existing exercise price under an outstanding stock
          option.&#160;&#160;Any such assumption and continuation of any such previously
          granted and unexercised incentive award shall be treated as an outstanding
          Incentive Award under the Plan and shall thus count against the number
          of Shares
          reserved for issuance pursuant to <u>Section&#160;</u><a href="#_Ref61426944"><u>1.4</u></a>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(f)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Assumption
          of Incentive Awards by a
          Successor</u></strong><strong>.</strong>&#160;&#160;Subject to the accelerated
          vesting and other provisions that may apply in the event of a change in
          control
          in the Award Letter, in the event of a Corporate Event (defined below),
          each
          Grantee shall be entitled to receive, in lieu of the number of Shares subject
          to
          Incentive Awards, such shares of capital stock or other securities or property
          as may be issuable or payable with respect to or in exchange for the number
          of
          Shares which Grantee would have received had he exercised the Incentive
          Award
          immediately prior to such Corporate Event, together with any adjustments
          (including, without limitation, adjustments to the Exercise Price and the
          number
          of Shares issuable on exercise of outstanding Stock Options).&#160;&#160;For
          this purpose, Shares of Restricted Stock shall be treated the same as
          unrestricted outstanding Shares of Common Stock.&#160;&#160;A &#8220;Corporate Event&#8221;
means any of the following: (i) a dissolution or liquidation of the Company,
          (ii)&#160;a sale of all or substantially all of the Company&#8217;s assets, or
          (iii)&#160;a merger, consolidation or combination involving the Company (other
          than a merger, consolidation or combination (A)&#160;in which the Company is the
          continuing or surviving corporation and (B)&#160;which does not result in the
          outstanding Shares being converted into or exchanged for different securities,
          cash or other property, or any combination thereof).&#160;&#160;The Committee
          shall take whatever other action it deems appropriate to preserve the rights
          of
          Grantees holding outstanding Incentive Awards.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Notwithstanding
          the previous paragraph of this <u>Section </u><a href="#_Ref61426987"><u>5.5(f)</u></a>, but subject to any accelerated
          vesting
          and other provisions as specified in any Award Letter that apply in the
          event of
          a change in control, in the event of a Corporate Event (described in the
          previous paragraph), the Committee, in its discretion, shall have the right
          and
          power to:</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 72pt; TEXT-INDENT: 108pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(i)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">cancel,
          effective immediately prior to the occurrence of the Corporate Event, each
          outstanding Incentive Award (whether or not then exercisable) and, in full
          consideration of such cancellation, pay to the Grantee an amount in cash
          equal
          to the excess of (A) the value, as determined by the Committee, of the
          property
          (including cash) received by the holders of Common Stock as a result of
          such
          Corporate Event over (B) the exercise price of such Incentive Award, if
          any;
          provided, however, this <u>subsection </u><a href="#_Ref61427069"><u>(i)</u></a>
          shall be inapplicable to an Incentive Award granted within six (6) months
          before
          the occurrence of the Corporate Event but only if the Grantee is an Insider
          and
          such disposition is not exempt under Rule 16b-3 (or other rules preventing
          liability of the Insider under Section 16(b) of the Exchange Act) and,
          in that
          event, the provisions hereof shall be applicable to such Incentive Award
          after
          the expiration of six (6) months from the date of grant; or</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 72pt; TEXT-INDENT: 108pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(ii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">provide
          for the exchange or substitution of each Incentive Award outstanding immediately
          prior to such Corporate Event (whether or not then exercisable) for another
          award with respect to the Common Stock or other property for which such
          Incentive Award is exchangeable and, incident thereto, make an equitable
          adjustment as determined by the Committee, in its discretion, in the Exercise
          Price or exercise price of the Incentive Award, if any, or in the number
          of
          Shares or amount of property (including cash) subject to the Incentive
          Award;
          or</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 72pt; TEXT-INDENT: 108pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(iii)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">provide
          for assumption of the Plan and such outstanding Incentive Awards by the
          surviving entity or its parent.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Committee, in its discretion, shall have the authority to take whatever
          action
          it deems to be necessary or appropriate to effectuate the provisions of
          this
<u>subsection </u><a href="#_Ref61426987"><u>(f)</u></a>.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(g)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Substitute
          Awards</u></strong><strong>.&#160;&#160;</strong>Incentive Awards granted under
          the Plan may, at the discretion of the Committee, be granted in substitution
          or
          exchange for any other award granted under another plan of the Company
          or any
          Subsidiary of the Company.&#160;&#160;Such substitution and exchange may be
          granted at any time.&#160;&#160;If an Incentive Award is granted in substitution
          or exchange for another award under another plan of the Company or a plan
          of a
          Subsidiary, the Committee shall require the surrender of such other
          award.&#160;&#160;</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.6&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Termination
                    of Employment, Death, Disability and
                    Retirement</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Committee shall in its sole discretion establish conditions, if any, for
          inclusion in the applicable Award Letter for any acceleration of vesting,
          lapse
          of restrictions, the exercise period, the definition of disability and
          other
          terms and conditions in the event of termination of Employment, death,
          disability or retirement.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.7&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Change
                    in Control</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Committee shall in its sole discretion establish conditions, if any, for
          inclusion in the applicable Award Letter for the acceleration of vesting,
          lapse
          of restrictions and any other terms and conditions in the event of a change
          in
          control.&#160;&#160;The events that shall constitute a change in control shall
          be specified in the Award Letter.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.8&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Exchange
                    of Incentive Awards</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Committee may, in its discretion, permit any Grantee to surrender outstanding
          Incentive Awards in order to exercise or realize his rights under other
          Incentive Awards or in exchange for the grant of new Incentive Awards,
          or
          require holders of Incentive Awards to surrender outstanding Incentive
          Awards
          (or comparable rights under other plans or arrangements) as a condition
          precedent to the grant of new Incentive Awards.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.9&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Financing</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">To
          the
          extent permitted by the Sarbanes-Oxley Act of 2002 or other applicable
          law, the
          Company may extend and maintain, or arrange for and guarantee, the extension
          and
          maintenance of financing to any Grantee to purchase Shares pursuant to
          exercise
          of an Incentive Award upon such terms as are approved by the Committee
          and the
          Board in their discretion.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>SECTION
          6.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div><br></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>GENERAL</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.1&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Funding
                    and Liability of Company</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">No
          provision of the Plan shall require the Company, for the purpose of satisfying
          any obligations under the Plan, to purchase assets or place any assets
          in a
          trust or other entity to which contributions are made, or otherwise to
          segregate
          any assets.&#160;&#160;In addition, the Company shall not&#160;&#160;be required
          to maintain separate bank accounts, books, records or other evidence of
          the
          existence of a segregated or separately maintained or administered fund
          for
          purposes of the Plan.&#160;&#160;&#160;Although bookkeeping accounts may be
          established with respect to Grantees who are entitled to cash, Common Stock
          or
          rights thereto under the Plan, any such accounts shall be used merely as
          a
          bookkeeping convenience.&#160;&#160;The Company shall not be required to
          segregate any assets that may at any time be represented by cash, Common
          Stock
          or rights thereto.&#160;&#160;The Plan shall not be construed as providing for
          such segregation, nor shall the Company, the Board or the Committee be
          deemed to
          be a trustee of any cash, Common Stock or rights thereto.&#160;&#160;Any
          liability or obligation of the Company to any Grantee with respect to an
          Incentive Award shall be based solely upon any contractual obligations
          that may
          be created by this Plan and any Award Letter, and no such liability or
          obligation of the Company shall be deemed to be secured by any pledge or
          other
          encumbrance on any property of the Company.&#160;&#160;Neither the Company, the
          Board nor the Committee shall be required to give any security or bond
          for the
          performance of any obligation that may be created by the Plan.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.2&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Withholding
                    Taxes</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Tax
          Withholding</u></strong><strong>.&#160;&#160;</strong>The Company shall have the
          power and the right to deduct or withhold, or require a Grantee to remit
          to the
          Company, an amount sufficient to satisfy federal, state, and local taxes,
          domestic or foreign, required by law or regulation to be withheld with
          respect
          to any taxable event arising as a result of the Plan or an Incentive Award
          hereunder.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Share
          Withholding</u></strong><strong>.&#160;&#160;</strong>With respect to tax
          withholding required upon the exercise of Stock Options, upon the lapse
          of
          restrictions on Restricted Stock, or upon any other taxable event arising
          as a
          result of any Incentive Awards, Grantees may elect, subject to the approval
          of
          the Committee in its discretion, to satisfy the withholding requirement,
          in
          whole or in part, by having the Company withhold Shares having a Fair Market
          Value on the date the tax is to be determined equal to the minimum statutory
          total tax which could be imposed on the transaction.&#160;&#160;All such
          elections shall be made in writing or electronically, as permitted by the
          Committee in its discretion, and shall be subject to any restrictions or
          limitations that the Committee, in its discretion, deems
          appropriate.&#160;&#160;Any fraction of a Share required to satisfy such
          obligation shall be disregarded and the amount due shall instead be paid
          in cash
          by the Grantee.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong><u>Loans</u></strong><strong>.</strong>&#160;&#160;To
          the extent permitted by the Sarbanes-Oxley Act of 2002 or other applicable
          law,
          the Committee may provide for loans, on either a short term or demand basis,
          from the Company to a Grantee who is an Employee or Consultant to permit
          the
          payment of taxes required by law.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.3&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>No
                    Guarantee of Tax
                    Consequences</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Neither
          the Company nor the Committee makes any commitment or guarantee that any
          federal, state or local tax treatment will apply or be available to any
          person
          participating or eligible to participate hereunder.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.4&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Designation
                    of Beneficiary by
                    Participant</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Each
          Grantee may, from time to time, name any beneficiary or beneficiaries (who
          may
          be named contingently or successively) to whom any benefit under the Plan
          is to
          be paid in case of his death before he receives any or all of such
          benefit.&#160;&#160;Each such designation shall revoke all prior designations by
          the same Grantee, shall be in a form prescribed by the Committee, and will
          be
          effective only when filed by the Grantee in writing or electronically with
          the
          Committee during the Grantee&#8217;s lifetime.&#160;&#160;In the absence of any such
          designation, benefits remaining unpaid at the Grantee&#8217;s death shall be paid to
          the Grantee&#8217;s estate.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.5&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Deferrals</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Committee may permit a Grantee to defer such Grantee&#8217;s receipt of the payment of
          cash or the delivery of Shares that would otherwise be due to such Grantee
          by
          virtue of the lapse or waiver of restrictions with respect to Restricted
          Stock,
          or the satisfaction of any requirements or goals with respect to Other
          Stock-Based Awards.&#160;&#160;If any such deferral election is permitted, the
          Committee shall, in its discretion, establish rules and procedures for
          such
          payment deferrals to the extent consistent with the Code.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.6&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Amendment
                    and Termination</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Board
          shall have complete power and authority to terminate or amend the Plan
          at any
          time; provided, however, the Board shall not, without the approval of the
          stockholders of the Company (within the time period required by applicable
          law,
          if any) (a) except as provided in <u>Section </u><a href="#_Ref61427365"><u>5.5</u></a>, increase the maximum number
          of Shares which
          may be issued under the Plan pursuant to <u>Section </u><a href="#_Ref61427380"><u>1.4</u></a>, (b) amend the requirements
          as to the class
          of Employees eligible to be granted Awards under the Plan, (c) to the extent
          applicable, increase the maximum limits on Incentive Awards to Employees
          as set
          for compliance with the Performance-Based Exception, (d) extend the term
          of the
          Plan, (e) permit the cancellation or purchase by the Company of Incentive
          Awards
          of Options for which the Shares have a current Fair Market Value that is
          less
          than the Fair Market Value of the Shares under the Option on the date of
          grant,
          (f) to the extent applicable, decrease the authority granted to the Committee
          under the Plan in contravention of Rule 16b-3 under the Exchange Act, (g)
          amend
          any Stock Option or SAR to reduce its initial Exercise Price or grant price,
          (h)
          cancel or replace any Stock Option or SAR with Stock Options or SARs having
          a
          lower Exercise Price or grant price or (i) to the extent applicable, modify
          the
          Performance Criteria for Awards intended to qualify for the Performance-Based
          Exemption.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Except
          as
          otherwise provided in <u>Section 6.14</u>, no termination, amendment, or
          modification of the Plan shall adversely affect in any material way any
          outstanding Incentive Award previously granted to a Grantee under the Plan,
          without the written or electronic consent of such Grantee or other designated
          holder of such Incentive Award.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
          addition, to the extent that the Committee determines that (a) the listing
          or
          qualification requirements of any national securities exchange or quotation
          system on which the Common Stock is then listed or quoted, if applicable,
          or (b)
          the Code (or regulations promulgated thereunder), require stockholder approval
          in order to maintain compliance with such listing requirements or to maintain
          any favorable tax advantages or qualifications, then the Plan shall not
          be
          amended in such respect without approval of the Company&#8217;s
          stockholders.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.7&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Requirements
                    of Law</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          granting of Incentive Awards and the issuance of Shares under the Plan
          shall be
          subject to all applicable laws, rules, and regulations, and to such approvals
          by
          any governmental agencies or national securities exchanges as may be
          required.&#160;&#160;Certificates evidencing Shares of Common Stock delivered
          under this Plan (to the extent that such Shares are so evidenced) may be
          subject
          to such stop transfer orders and other restrictions as the Committee may
          deem
          advisable under the rules and regulations of the Securities and Exchange
          Commission, any securities exchange or transaction reporting system upon
          which
          the Common Stock is then listed or to which it is admitted for quotation,
          and
          any applicable federal or state securities law, if applicable.&#160;&#160;The
          Committee may cause a legend or legends to be placed upon such certificates
          (if
          any) to make appropriate reference to such restrictions.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.8&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Rule
                    16b-3 Securities Law Compliance and Compliance with Company
                    Policies</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">With
          respect to Insiders to the extent applicable, transactions under the Plan
          are
          intended to comply with all applicable conditions of Rule 16b-3 under the
          Exchange Act.&#160;&#160;With respect to Grantees who are directors or executive
          officers of the Company, transactions under the Plan are intended to comply
          with
          Securities Regulation BTR and, with respect to all Grantees, with the Company&#8217;s
          insider trading policies as revised from time to time or such other similar
          Company policies, including but not limited to, policies relating to black
          out
          periods.&#160;&#160;Any ambiguities or inconsistencies in the construction of an
          Incentive Award or the Plan shall be interpreted to give effect to such
          intention.&#160;&#160;However, to the extent any provision of the Plan or action
          by the Committee fails to so comply, it shall be deemed null and void to
          the
          extent permitted by law and deemed advisable by the Committee in its
          discretion.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.9&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Successors</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">All
          obligations of the Company under the Plan with respect to Incentive Awards
          granted hereunder shall be binding on any successor to the Company, whether
          the
          existence of such successor is the result of a direct or indirect purchase,
          merger, consolidation, or otherwise, of all or substantially all of the
          business
          and/or assets of the Company.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.10&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Miscellaneous
                    Provisions</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">No
          Employee, Consultant, Outside Director, or other person shall have any
          claim or
          right to be granted an Incentive Award under the Plan.&#160;&#160;Neither the
          Plan, nor any action taken hereunder, shall be construed as giving any
          Employee,
          Consultant, or Outside Director any right to be retained in the Employment
          or
          other service of the Company or any Parent or Subsidiary.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">No
          Shares
          of Common Stock shall be issued hereunder unless counsel for the Company
          is then
          reasonably satisfied that such issuance will be in compliance with federal
          and
          state securities laws, if applicable.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          expenses of the Plan shall be borne by the Company.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="MARGIN-LEFT: 36pt; TEXT-INDENT: 72pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 9pt;">&#160;&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">By
          accepting any Incentive Award, each Grantee and each person claiming by
          or
          through him shall be deemed to have indicated his acceptance of the
          Plan.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.11&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Severability</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">In
          the
          event that any provision of this Plan shall be held illegal, invalid or
          unenforceable for any reason, such provision shall be fully severable,
          but shall
          not affect the remaining provisions of the Plan, and the Plan shall be
          construed
          and enforced as if the illegal, invalid, or unenforceable provision was
          not
          included herein.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.12&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Gender
                    and Headings</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Whenever
          the context so requires, words of the masculine gender used herein shall
          include
          the feminine and neuter, and words used in the singular shall include the
          plural.&#160;&#160;Section headings as used herein are inserted solely for
          convenience and reference and constitute no part of the interpretation
          or
          construction of the Plan.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.13&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Governing
                    Law</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
          Plan
          shall be interpreted, construed and constructed in accordance with the
          laws of
          the State of Delaware without regard to its conflicts of law provisions,
          except
          as may be superseded by applicable laws of the United States.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%">

              <tr valign="top">
                <td align="right" style="WIDTH: 36pt">
                  <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.14&#160;&#160;</strong></font></div>
                </td>
                <td>
                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Compliance
                    with Code Section 409A</strong></font></div>
                </td>
              </tr>

          </table>
        </div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">To
          the
          extent that the Committee determines that any Incentive Award granted under
          the
          Plan is subject to Section 409A of the Code, the applicable Award Letter
          shall
          incorporate the terms and conditions necessary to avoid the consequences
          specified in Section 409A(a)(1) of the Code.&#160;&#160;To the extent
          applicable, the Plan and Award Letters shall be interpreted and construed
          in
          compliance with Section 409A of the Code and Treasury Department regulations
          and
          other interpretive guidance issued thereunder.&#160;&#160;In the event that the
          Board determines that any Award may be subject to Section 409A of the Code,
          the
          Board may, without the consent of Participants, including the affected
          Participant, but subject to the stockholder approval requirements of <u>Section
          6.6</u>, if applicable, adopt such amendments to the Plan and the applicable
          Award Letters or adopt other policies and procedures (including amendments,
          policies and procedures with retroactive effect), or take any other actions,
          that the Board determines are necessary or appropriate to (i) exempt the
          Incentive Award from Section 409A of the Code or (ii) comply with the
          requirements of Section 409A of the Code and Treasury Department regulations
          and
          other interpretive guidance issued thereunder.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">IN
          WITNESS WHEREOF, Bristow has caused this Plan to be duly executed in its
          name
          and on its behalf by its duly authorized officer.</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>BRISTOW
          GROUP INC.</strong></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
        <div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">By:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>/S/
          Randall A. Stafford</u></font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 237.6pt;"></font>&#160;&#160;&#160;Randall
          A.
          Stafford</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><font id="TAB1" style="MARGIN-LEFT: 237.6pt;"></font>&#160;&#160;&#160;Vice
          President and
          General Counsel,</font></div>
        <div style="DISPLAY: block; MARGIN-LEFT: 216pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate
          Secretary</font></div>
        <div><br></div>
        <div><br></div><br><br></div>
    </div>
  </body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit10-3.htm
<DESCRIPTION>EXHIBIT 10.3 CHILES RESTRICTED STOCK GRANT
<TEXT>
<html>

  <head>
    <title>exhibit10-3.htm</title>
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    <div>
      <div>
        <hr style="COLOR: black" align="left" noshade size="1" width="100%">
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Exhibit
        10.3 - William E. Chiles Restricted Stock Award Documents</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">May
        3,
        2007</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">William
        E. Chiles</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">2000
        W.
        Sam Houston Pkwy. S.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Houston,
        Texas 777042</font></div>
      <div><br></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Dear
        Bill:</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Effective
        as of&#160;&#160;May 3, 2007 (the &#8220;Award Date&#8221;), Bristow Group Inc. (the
&#8220;Company&#8221;) hereby grants to you 34,000 restricted shares (&#8220;Restricted Stock&#8221;) of
        the common stock, $.01 par value (&#8220;Common Stock&#8221;)&#160;&#160;in accordance with
        the Bristow Group Inc. 2004 Stock&#160;&#160;Incentive Plan (the
&#8220;Plan&#8221;).&#160;&#160;Your award is more fully described in the attached Appendix
        A, Terms and Conditions of Employee Restricted Stock Award (which together
        with
        this letter is the &#8220;Award Letter&#8221;).</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Unless
        otherwise provided in the attached Appendix A, the restrictions on all 34,000
        of
        your shares of Restricted Stock will lapse and such shares will vest on the
        third anniversary of the Award Date. Except as otherwise expressly provided
        in
        Appendix A, the Restricted shares will vest and the restrictions will lapse
        in
        accordance with the foregoing sentence provided that you are and have been
        continuously employed by the Company from the Award Date through the date
        of
        vesting and the lapse of restrictions (the &#8220;Vesting Date&#8221;).&#160;&#160;Except as
        expressly provided in Appendix A, all shares of Restricted Stock as to which
        the
        restrictions thereon have not previously lapsed and are unvested will
        automatically be forfeited upon your termination of employment for any reason
        (temporarily or permanently) prior to the Vesting Date.&#160;&#160;In the event
        that a Vesting Date is a Saturday, Sunday or holiday, such particular
        installment of shares will instead vest on the first business day immediately
        following the Vesting Date.</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Note
        that
        in most circumstances, on the date your restricted stock award vests, the
        fair
        market value of the stock on the vesting date will be taxable income to you.
        You
        should closely review Appendix A and the Plan Prospectus for important details
        about the tax treatment of your award.&#160;Your Restricted Stock is subject to
        the terms and conditions set forth in the enclosed Plan, this Award Letter,
        the
        Prospectus for the Plan, and any rules and regulations adopted by the
        Compensation Committee of the Company&#8217;s Board of Directors. <strong>This award
        is subject to the approval of the Plan by the stockholders of the Company
        at its
        Annual Meeting of Stockholders to be held in August 2007. In the event the
        Plan
        is not so approved this award will be null and void.</strong></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
        Award Letter, the Plan and any other attachments hereto should be retained
        in
        your files for future reference.</font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Very
        truly yours,</font></div>
      <div><br></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Thomas
        C.
        Knudson</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Chairman
        of the Board</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Enclosures</font></div><br>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div><br>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Appendix
        A</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><a name="dmsfooter"><br></a></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Terms
        and Conditions of</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>Employee
        Restricted Stock Award</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>May
        3, 2007</strong></font></div>
      <div><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
        restricted shares (&#8220;Restricted Stock&#8221;) granted to you by Bristow Group Inc. (the
&#8220;Company&#8221;) of common stock, $.01 par value (&#8220;Common Stock&#8221;) of the Company are
        subject to the terms and conditions set forth in the Bristow Group Inc. 2007
        Long Term Incentive Plan (the &#8220;Plan&#8221;), any rules and regulations adopted by the
        Compensation Committee of the Company&#8217;s Board of Directors (the &#8220;Committee&#8221;),
        this Award Letter and the Prospectus for the Plan.&#160;&#160;Any terms used and
        not defined in the Award Letter have the meanings set forth in the
        Plan.&#160;&#160;In the event there is an inconsistency between the terms of the
        Plan and this Award Letter, the terms of the Plan will control.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Lapse
        of Risk of Forfeiture and Vesting</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">The
        Restricted Stock granted pursuant to your Award Letter will no longer be
        subject
        to forfeiture on the Vesting Dates as set forth in your Award
        Letter.&#160;&#160;In certain circumstances described below, the possibility of
        forfeiture of your Restricted Stock may lapse and the shares may become 100%
        vested before the scheduled Vesting Date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Restrictions
        on the Restricted Stock</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Until
        the
        restrictions on your Restricted Stock have lapsed and your shares have become
        vested in accordance with this Award Letter, you may not sell, transfer,
        assign
        or pledge the shares.&#160;&#160;Shares in the amount of your Restricted Stock
        Award will be registered in your name as of the Award Date, but will be held
        by
        the Company on your behalf until the restrictions on such shares lapse. If
        certificated, each stock certificate shall bear the following
        legend:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">the
        transferability of this certificate and the shares of stock represented hereby
        are subject to the restrictions, terms and conditions (including forfeiture
        and
        restrictions against transfer) contained in the award letter for such Restricted
        shares entered into between the registered owner of such shares and bristow
        group inc.&#160;&#160;a copy of the award letter is on file in the office of the
        Secretary of bristow group inc, located at 2000 w.&#160;sam houston parkway
        south, suite 1700, houston, texas 77042.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">When
        the
        restrictions on shares of your Restricted Stock lapse and the shares become
        vested, a certificate representing such shares will be delivered to you or,
        in
        the event of your death, to your beneficiary in accordance with the
        Plan.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Dividends
        and Voting</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">You
        will
        have the right to vote your Restricted Stock, even if it remains subject
        to
        forfeiture until it is forfeited.&#160;&#160;From the Award Date, all cash
        dividends payable with respect to your Restricted Stock will be paid directly
        to
        you at the same time dividends are paid with respect to all other shares
        of
        Common Stock unless and until any shares of the Restricted Stock are
        forfeited.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Termination
        of Employment</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>(a)
        Forfeiture and Vesting</em><strong><em>.</em></strong>&#160;&#160;Except as
        provided in this Section 4 and Section 5, if your employment is terminated
        your
        unvested shares of Restricted Stock for which the restrictions have not lapsed
        shall be immediately forfeited.&#160;&#160;Any shares of Restricted Stock
        forfeited hereunder shall automatically revert to the Company and become
        cancelled shares and shall be again subject to the Plan as provided in Section
        1.4 of the Plan.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>(b)
        Death or Disability.</em><strong>&#160;</strong> If your employment is
        terminated by reason of death or disability (as determined by the Committee),
        all of your shares of Restricted Stock will no longer be subject to the
        possibility of future forfeiture and will be 100% vested.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>(c)
        Retirement.</em>&#160;&#160;If your employment terminates by reason of
        retirement for the convenience of the Company or under a retirement program
        of
        the Company or one of its subsidiaries or otherwise after attaining age 62
        with
        five continuous years of service (in either case as determined by the
        Committee), all of your shares of Restricted Stock will no longer be subject
        to
        the possibility of future forfeiture and will be 100% vested.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>(d)
        Other Termination of Employment.</em>&#160;&#160;If your employment terminates
        for any reason other than those provided in paragraphs (b) and (c) above,
        any of
        your shares of Restricted Stock as to which the risk of forfeiture has not
        previously lapsed and are unvested prior to your termination of employment
        will
        be forfeited, unless otherwise determined by the Committee in its sole
        discretion.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>(e)
        Adjustments by the Committee.</em>&#160;&#160;The Committee may, in its sole
        discretion, exercised before or after your termination of employment, eliminate
        the risk of future forfeiture and accelerate the vesting of all or any portion
        of your shares of Restricted Stock.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>(f)
        Committee Determinations.</em>&#160;&#160;The Committee shall have absolute
        discretion to determine the date and circumstances of termination of your
        employment, and its determination shall be final, conclusive and binding
        upon
        you.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Change
        in Control</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>Acceleration
        of Lapse of Restrictions.</em>&#160;&#160;All of your shares of Restricted Stock
        will no longer be subject to forfeiture immediately and will be 100% vested
        upon
        a Change in Control of the Company.&#160;&#160;A Change in Control of the
        Company shall be deemed to have occurred as of the first day any one or more
        of
        the following conditions shall have been satisfied:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(a)
        The
        acquisition by any individual, entity or group (within the meaning of Section
        13(d)(3) or 14(d)(2) of the Exchange Act (a &#8220;Person&#8221;) of beneficial ownership
        (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of
        shares
        representing 35% or more of the combined voting power of the then outstanding
        voting securities of the Company entitled to vote generally in the election
        of
        directors (the &#8220;Outstanding Company Voting Securities&#8221;); provided, however, that
        for purposes of this subsection (a), the following acquisitions shall not
        constitute a Change in Control: (i) any acquisition directly from the Company,
        (ii) any acquisition by the Company, (iii) any acquisition by any employee
        benefit plan (or related trust) sponsored or maintained by the Company or
        any
        corporation or other entity controlled by the Company, or (iv) any acquisition
        by any corporation or other entity pursuant to a transaction which complies
        with
        clauses (i), (ii) and (iii) of Section 5 (c); or</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(b)
        Individuals who, as of the effective date of the Plan (as defined in the
        Plan),
        are members of the Board of Directors of the Company (the &#8220;Incumbent Board&#8221;)
        cease for any reason to constitute at least a majority of the Board of Directors
        of the Company; provided, however, that for purposes of this paragraph of
        this
        Section 5., any individual becoming a director subsequent to the date hereof
        whose election, or nomination for election by the Company&#8217;s shareholders, was
        approved by a vote of at least a majority of the directors then comprising
        the
        Incumbent Board, shall be considered as though such individual were a member
        of
        the Incumbent Board, but excluding, for this purpose, any such individual
        whose
        initial assumption of office occurs as a result of an actual or threatened
        election contest with respect to the election or removal of directors or
        other
        actual or threatened solicitation of proxies or consents by or on behalf
        of a
        Person other than the Board of Directors of the Company; or</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(c)
        Consummation of a reorganization, merger, conversion or consolidation or
        sale or
        other disposition of all or substantially all of the assets of the Company
        (a
&#8220;Business Combination&#8221;), in each case, unless, following such Business
        Combination, (i) all or substantially all of the individuals and entities
        who
        were the beneficial owners, respectively, of the Outstanding Company Voting
        Securities immediately prior to such Business Combination beneficially own,
        directly or indirectly, more than 50% of the then outstanding combined voting
        power of the then outstanding voting securities entitled to vote generally
        in
        the election of directors of the corporation or other entity resulting from
        such
        Business Combination (including, without limitation, a corporation or other
        entity which as a result of such transaction owns the Company or all or
        substantially all of the Company&#8217;s assets either directly or through one or more
        subsidiaries) in substantially the same proportions as their ownership,
        immediately prior to such Business Combination of the Outstanding Company
        Voting
        Securities, (ii) no Person (excluding any corporation or other entity resulting
        from such Business Combination or any employee benefit plan (or related trust)
        of the Company or such corporation or other entity resulting from such Business
        Combination) beneficially owns, directly or indirectly, 35% or more of the
        combined voting power of the then outstanding voting securities of the
        corporation or other entity resulting from such Business Combination except
        to
        the extent that such ownership existed prior to the Business Combination
        and
        (iii) at least a majority of the members of the board of directors of the
        corporation or other entity resulting from such Business Combination were
        members of the Incumbent Board at the time of the execution of the initial
        agreement, or of the action of the Board of Directors of the Company, providing
        for such Business Combination; or</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">(d)
        Approval by the shareholders of the Company of a complete liquidation or
        dissolution of the Company other than in connection with the transfer of
        all or
        substantially all of the assets of the Company to an affiliate or a Subsidiary
        of the Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Tax
        Consequences and Income Tax Withholding</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">You
        should review the Plan Prospectus for a general summary of the federal income
        tax consequences of your shares of Restricted Stock based on currently
        applicable provisions of the Code and related regulations.&#160;&#160;The
        summary does not discuss state and local tax laws, which may differ from
        the
        federal tax law.&#160;&#160;Neither the Company nor the Committee guarantees the
        tax consequences of your Award Letter.&#160;&#160;You are advised to consult
        your own tax advisor regarding the application of tax laws to your particular
        situation.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
        Award Letter is subject to your satisfaction of the income tax withholding
        requirements.&#160;&#160;Unless the Committee in its sole discretion determines
        otherwise, to satisfy any applicable federal, state or local withholding
        tax
        liability arising from the grant of or lapse of the risk of forfeiture on
        your
        Restricted Stock, the Company will retain a certain number of shares of Common
        Stock having a value equal to the amount of your minimum statutory withholding
        obligation from the shares otherwise deliverable to you upon your Restricted
        Stock becoming fee of the risk of forfeiture. As a condition of this award,
        you
        agree to waive your right to make an election under Code Section
        83(b).&#160;&#160;Accordingly, no such election will be recognized by the
        Company.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Restrictions
        on Resale</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Other
        than the restrictions referenced in Section 2., there are no restrictions
        imposed by the Plan on the resale of Common Stock acquired under the
        Plan.&#160;&#160;However, under the provisions of the Securities Act of 1933
        (the&#160;&#8220;Securities Act&#8221;) and the rules and regulations of the Securities and
        Exchange Commission (the &#8220;SEC&#8221;), resales of shares acquired under the Plan by
        certain officers and directors of the Company who may be deemed to be
&#8220;affiliates&#8221; of the Company must be made pursuant to an appropriate effective
        registration statement filed with the SEC, pursuant to the provisions of
        Rule
        144 issued under the Securities Act, or pursuant to another exemption from
        registration provided in the Securities Act.&#160;&#160;At the present time, the
        Company does not have a currently effective registration statement pursuant
        to
        which such resales may be made by affiliates.&#160;&#160;There are no
        restrictions imposed by the SEC on the resale of shares acquired under the
        Plan
        by persons who are not affiliates of the Company; provided, however, that
        all
        employees and the grant of Restricted Stock and any Common Stock deliverable
        hereunder are subject to the Company&#8217;s policies against insider trading
        (including black-out periods during which no sales are permitted), and to
        other
        restrictions on resale that may be imposed by the Company from time to time
        if
        it determines said restrictions are necessary or advisable to comply with
        applicable law.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Effect
        on Other Benefits</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">Income
        recognized by you as a result of your Restricted Stock award will not be
        included in the formula for calculating benefits under any of the Company&#8217;s
        retirement and disability plans or any other benefit plans.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Compliance
        with Laws</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
        Award Letter and the Restricted Stock and any Common Stock deliverable hereunder
        shall be subject to all applicable federal and state laws and the rules of
        the
        exchange on which shares of the Company&#8217;s Common Stock are traded.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><strong>10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Miscellaneous</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>(a)
        Not an Agreement for Continued Employment or Services.</em>&#160;&#160;This
        Award Letter shall not, and no provision of this Award Letter shall be construed
        or interpreted to, create any right to be employed by or to provide services
        to
        or continue your employment with or provide services to the Company, the
        Company&#8217;s affiliates, parent, subsidiary or their affiliates.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;"><em>(b)
        Community Property.</em>&#160;&#160;Each spouse individually is bound by, and
        such spouse&#8217;s interest, if any, in the grant of Restricted Stock or in any
        shares of Common Stock is subject to, the terms of this Award
        Letter.&#160;&#160;Nothing in this Award Letter shall create a community
        property interest where none otherwise exists.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">If
        you
        have any questions regarding your Restricted Stock award or would like to
        obtain
        additional information about the Plan, please contact the Company&#8217;s General
        Counsel, Bristow Group Inc., 2000 W.&#160;Sam Houston Parkway South, Suite 1700,
        Houston, Texas 77042 (telephone (713)&#160;267 - 7600).&#160;&#160;Your Award
        Letter and all attachments should be retained in your files for future
        reference.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman;">This
        Award Letter has been executed and delivered as of the Award Date.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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