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<SEC-DOCUMENT>0001026608-10-000108.txt : 20100812
<SEC-HEADER>0001026608-10-000108.hdr.sgml : 20100812
<ACCEPTANCE-DATETIME>20100812172518
ACCESSION NUMBER:		0001026608-10-000108
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20100812
DATE AS OF CHANGE:		20100812
EFFECTIVENESS DATE:		20100812

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ACME UNITED CORP
		CENTRAL INDEX KEY:			0000002098
		STANDARD INDUSTRIAL CLASSIFICATION:	CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420]
		IRS NUMBER:				060236700
		STATE OF INCORPORATION:			CT
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-168801
		FILM NUMBER:		101012061

	BUSINESS ADDRESS:	
		STREET 1:		60 ROUND HILL ROAD
		CITY:			FAIRFIELD
		STATE:			CT
		ZIP:			06824
		BUSINESS PHONE:		203-254-6060

	MAIL ADDRESS:	
		STREET 1:		60 ROUND HILL ROAD
		CITY:			FAIRFIELD
		STATE:			CT
		ZIP:			06824

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ACME SHEAR CO
		DATE OF NAME CHANGE:	19710713
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
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<FILENAME>acme_s8081210.htm
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As filed
with the Securities and Exchange Commission on August 12, 2010</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#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;Registration
No. 333-______</font></div>
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    <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">UNITED
STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
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DC 20549</font></div>
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</font>

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S-8</font></div>
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Statement</font></div>
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Securities Act of 1933</font></div>
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United Corporation</font></div>
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name of Registrant as specified in its charter)</font></div>
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<tr>
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Hill Road</font></div>
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Connecticut 06824</font></div>
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United Corporation Employee Stock Option Plan</font></div>
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Title of the Plan)</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;
</font>

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Driscoll</font></div>
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President, Chief Financial Officer,</font></div>
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and Treasurer</font></div>
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Hill Road</font></div>
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Connecticut 06824</font></div>
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address of agent for service</font></div>
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254-6060</font></div>
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number, including area code, of agent for service)</font></div>
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to:</font></div>
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A. Cole, Esq.</font></div>
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Williams LLP</font></div>
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Market Street</font></div>
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Pennsylvania 19103-7395</font></div>
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(215) 864-7000</font></div>
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864-7123</font></div>
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by check mark whether the Registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer or a smaller reporting company. See
definition of &#8220;accelerated filer and large accelerated filer&#8221; in Rule&#160;12b-2
of the Exchange Act (Check one).</font></div>
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filer&#160; [&#160;&#160; ]&#160;&#160;&#160;&#160;&#160; Accelerated
filer&#160; [&#160;&#160; ]&#160;&#160;&#160;&#160;&#160; Non-accelerated
filer&#160; [&#160;&#160; ]&#160;&#160;&#160; <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font>Smaller
Reporting Company&#160; [X]</font></font></div>
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    <div>&#160;</div>
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<tr>
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            <td valign="bottom" width="22%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="15%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="4%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="4%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$</font></td>
            <td valign="bottom" width="14%" style="TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">81.06</font></td>
            <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td valign="bottom" width="22%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="1%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="15%" style="TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="4%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="14%" style="TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="4%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="14%" style="TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="2%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="14%" style="TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td nowrap valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="14%" style="TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td nowrap valign="bottom" width="2%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="4%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="1%" style="TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td valign="bottom" width="14%" style="TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td valign="bottom" width="22%" style="BORDER-BOTTOM: black 2px solid"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td valign="bottom" width="15%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: right"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td nowrap valign="bottom" width="2%" style="BORDER-BOTTOM: black 2px solid; TEXT-ALIGN: left"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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to Rule 416 under the Securities Act of 1933 (the &#8220;Securities Act&#8221;), this
Registration Statement covers, in addition to the number of shares stated
herein, any additional shares of the Company&#8217;s common stock that become issuable
under the Acme United Corporation Employee Stock Option Plan (&#8220;Employee Plan&#8221;)by
reason of any stock splits, stock dividends or similar
transactions.</font></font></div>
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shares of the Common Stock of the Company issuable upon exercise of options
granted in August 2010 under the Employee Plan.</font></div>
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price of options granted in August 2010.</font></div>
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additional shares of the Common Stock of the Company issuable upon exercise
of&#160;&#160;options which may be granted under the Employee Plan.</font></div>
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pursuant to Rules 457 (c) and 457 (h)(1) under the Securities Act, solely for
the purpose of calculating the registration fee, based upon the average of the
high and low prices for shares of the Company&#8217;s Common Stock reported on the
NYSE AMEX on August 11, 2009.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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Note.</font></div>
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Registration Statement on Form S-8 is being filed for the purpose of
</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">registering:</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
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        <div id="GLHDR" style="WIDTH: 100%" align="right">
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additional shares of Common Stock which may be issued pursuant to the the
Employee Plan.</font></div>
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Rule 416
under&#160;&#160;the&#160;&#160;Securities&#160;&#160;Act,&#160;&#160;an&#160;&#160;indeterminate&#160;&#160;amount
of additional&#160;&#160;shares of Common Stock,&#160;&#160;which may become
issuable&#160;&#160;pursuant to the anti-dilution&#160;&#160;or
other&#160;&#160;adjustment&#160;&#160;provisions of the Employee Plan are also
being registered hereunder.</font></div>
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accordance with Instruction E of the General Instructions to Form S-8, the
contents of the Registration Statement on Form S-8 (Reg. No.
333-145516)previously filed by the Company with the Securities and Exchange
Commission (the "Commission")&#160;&#160;relating to the Employee Plan are
incorporated by reference herein to the extent not otherwise modified or
superseded by this Registration Statement.</font></div>
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I</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">INFORMATION
REQUIRED IN THE SECTION 10(a) PROSPECTUS</font></div>
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documents containing the information specified in Part I of Form S-8 will be
sent or given to participants as specified by Rule 428(b)(1) promulgated under
the Securities Act.&#160;&#160;Such documents need not be filed with the
Commission either as part of this Registration Statement or as prospectuses or
prospectus supplements pursuant to Rule 424. These documents and the documents
incorporated herein by reference pursuant to Item 3 of Part II of this
Registration Statement, taken together, constitute a prospectus that meets the
requirements of Section 10(a) of the Securities Act (the
"Prospectus").</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
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II</font></div>
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REQUIRED IN THE REGISTRATION STATEMENT</font></div>
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3.&#160;&#160;&#160;&#160;&#160;&#160;Incorporation of Documents by
Reference.</font></div>
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following documents previously filed with the Commission are incorporated by
reference and made a part of this prospectus:</font></div>
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Annual Report on Form 10-K for the fiscal year ended December 31, 2009, filed on
March 9, 2010;</font></div>
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Quarterly Reports on Form 10-Q for the quarters ended March 31, 2010 and June
30, 2010, filed on May 10, 2010 and August 12, 2010, respectively.</font></div>
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Current Reports on Form 8-K filed January 27, February 26, April 16, April 21
(two reports) and July 23, 2010.</font></div>
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description&#160;&#160;of our Common Stock contained in our Current Report on
Form 8-K filed on July 8, 2005, including any amendment to that form that we may
file in the future, for the purpose of updating the description of our Common
Stock.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 8pt">3</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">All
documents we have filed pursuant to Sections 13(a), 13(c), 14 and 15(d) of the
Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;)subsequent to the effective
date of this Registration Statement, prior to the filing of a post-effective
amendment which indicates that all securities offered by this prospectus have
been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this prospectus and to be a part of
this prospectus from the date of filing of such documents. Any statement
contained herein or in any document incorporated or deemed to be incorporated by
reference shall be deemed to be modified or superseded for purposes of this
Registration Statement to the extent that a statement contained in any other
subsequently filed document which also is or is deemed to be incorporated by
reference modifies or supersedes such statement. Any such statement so modified
or superseded shall not be deemed to constitute a part of this Registration
Statement, except as so modified or superseded.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item
4.&#160;&#160;&#160;&#160;&#160;&#160;Description of Securities.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Not
applicable, because the Company&#8217;s class of Common Stock is registered under
Section 12 of the Exchange Act.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item
5.&#160;&#160;&#160;&#160;&#160;&#160;Interest of Named Experts and
Counsel.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">None.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item
6.&#160;&#160;&#160;&#160;&#160;&#160;Indemnification of Directors and
Officers.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Connecticut
General Statutes Sections ("CGS") 33-771 through 33-778 provide for mandatory,
permissive and court-ordered indemnification of directors who are parties to a
proceeding. For purposes of these indemnification statutes a</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">"proceeding"
is defined as any threatened, pending or completed action, suit or proceeding,
whether civil, criminal, administrative or investigative and whether formal or
informal.</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Company's Restated Certificate of Incorporation provides that the Company
</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">shall
indemnify an individual who is a party to a proceeding because he is a
</font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">director
or officer of the corporation against liability in the proceeding
if:</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(1)(A)&#160;&#160;he&#160;&#160;conducted&#160;&#160;himself&#160;&#160;in
good&#160;&#160;faith;&#160;&#160;(B) he&#160;&#160;reasonably </font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">believed
(i) in the case of conduct in his official&#160;&#160;capacity,&#160;&#160;that
his conduct was in the best interests of the corporation;&#160;&#160;and (ii) in
all other cases, that his conduct was at least not opposed to the
best&#160;&#160;interests of the&#160;&#160;corporation; and (C) in the case of
any criminal&#160;&#160;proceeding,&#160;&#160;he had no
reasonable&#160;&#160;cause to believe his conduct was unlawful; or</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(2) such
liability arises from any action taken, or any failure to </font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">take any
action, as a director or officer, except liability that (A) involved a knowing
and culpable violation of law by the director or officer; (B) enabled the
director, officer or an associate (as defined in the CGS) to receive an improper
personal gain; (C) showed a lack of good faith and a conscious disregard for the
duty of the director or officer to the corporation under circumstances in which
the director or officer was aware that his conduct or omission created an
unjustifiable risk of serious injury to the corporation; (D) constituted a
sustained and unexcused pattern of inattention that amounted to an abdication of
the director's or officer's duty to the corporation; or (E) created liability
under the CGS for the illegal payment of dividends.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
Registrant has obtained directors' and officers' reimbursement and liability
insurance against certain liabilities.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 8pt">4</font></div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="1">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item
7.&#160;&#160;&#160;&#160;&#160;&#160;Exemption from Registration
Claimed.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Not
Applicable.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item
8.&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
following exhibits are filed as part of this Registration
Statement:</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div align="center">
      <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
            <td width="20%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="TEXT-DECORATION: underline">Exhibit No.</font></font></td>
            <td width="80%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="TEXT-DECORATION: underline">Identification of
    Exhibit</font></font></td>
          </tr><tr>
            <td width="20%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            <td width="80%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
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            <td width="20%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;5.1</font></td>
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          </tr><tr>
            <td width="20%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;24.1</font></font></td>
            <td width="80%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Power of
      attorney (included on signature page of this
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            <td width="20%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;99.02</font></td>
            <td width="80%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Employee Stock
      Option Plan, as amended</font></td>
          </tr></table>
    </div>
    <div><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Item
9.&#160;&#160;&#160;&#160;&#160;&#160;Undertakings</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
undersigned Registrant hereby undertakes:</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(1)&#160;
To file, during any period in which offers or sales are being made, a
post-effective amendment to this Registration Statement:</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(a)&#160;
To include any prospectus required by Section 10(a)(3) of the Securities
Act;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(b)&#160;
To reflect in the prospectus any facts or events arising after the effective
date of this Registration Statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in this Registration
Statement.&#160;&#160;Notwithstanding the foregoing, any increase or decrease in
volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or
high end of the estimated maximum offering range may be reflected in the form of
a prospectus filed with the Commission pursuant to Rule 424(b) if, in the
aggregate, the changes in volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in the "Calculation of
Registration Fee" table in the effective registration statement;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(c)&#160;
To include any material information with respect to the plan of distribution not
previously disclosed in this Registration Statement or any material change to
such information in this Registration Statement;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">provided,
however, that paragraphs (1)(a) and (1)(b) do not apply if the information
required to be included in a post-effective amendment by those paragraphs is
contained in periodic reports filed by the Registrant pursuant to Section 13 or
Section 15(d) of the Exchange Act that are incorporated by reference in this
Registration Statement.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 8pt">5</font></div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="1">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(2)&#160;
That, for the purpose of determining any liability under the Securities Act,
each such post-effective amendment shall be deemed to be a
new&#160;&#160;Registration Statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(3)&#160;
To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the
offering.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(4)&#160;
That, for the purposes of determining any liability under the Securities Act,
each filing of the Registrant's annual report pursuant to Section 13(a) or
Section 15(d) of the Exchange Act (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of
the&#160;&#160;Exchange Act) that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering
thereof.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(5)&#160;
Insofar as indemnification for liabilities arising under the Securities Act may
be permitted to directors, officers and controlling persons of the </font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Registrant
pursuant to the foregoing provisions, or otherwise, the Registrant </font><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">has been
advised that in the opinion of the Commission such indemnification is against
public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such
liabilities (other than the payment by the Registrant of expenses incurred or
paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 8pt">6</font></div>
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      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="1">
        </div>
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      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant
to the requirements of the Securities Act of 1933, the Registrant certifies that
it has reasonable grounds to believe that it meets all of the requirements for
filing on Form S-8 and has duly caused this Registration Statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the Town of
Fairfield, State of Connecticut, on the 12th day of August, 2010.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#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;</font>

      <div align="center">
        <table bgcolor="white" cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
              <td width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
              <td colspan="2" width="5%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;ACME UNITED
      CORPORATION</font></td>
            </tr><tr>
              <td width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
              <td width="5%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
              <td width="45%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
            </tr><tr>
              <td width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
              <td width="5%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;By:</font></td>
              <td width="45%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;<font style="TEXT-DECORATION: underline">/s/ Walter C. Johnsen<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font><font id="TAB2" style="LETTER-SPACING: 9pt">&#160;&#160;&#160;</font></font></font></td>
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              <td width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
              <td width="5%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
              <td width="45%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Walter C.
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            </tr><tr>
              <td width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
              <td width="5%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;</font></td>
              <td width="45%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;Executive
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            </tr></table>
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      <div>&#160;</div>
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      <div>
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PERSONS BY THESE PRESENTS, that each person whose signature appears below
constitutes and appoints Walter C. Johnsen and Paul Driscoll, or either of them,
as true and lawful attorneys-in-fact and agents with full power of substitution
and re-substitution, for him and in his name, place and stead, in any and all
capacities to sign the Registration Statement filed herewith and any or all
amendments to said Registration Statement, and to file the same, with all
exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorney-in-fact and
agents the full power and authority to do and perform each and every act and
thing requisite and necessary to be done in and about the foregoing, as to all
intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that said attorney-in-fact and agents or any of them, or his
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has been signed by the following persons in the capacities indicated below on
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Index</font></font></font></div>
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<tr>
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      <div style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;<font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">8</font></font>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>acme_s8081210ex51.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<head>
    <title>acme_s8081210ex51.htm</title>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Exhibit 5.1</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">August 12, 2010<font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 10pt">&#160;</font><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 10pt">&#160;&#160;&#160;</font><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 10pt">&#160;&#160;&#160;</font><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 10pt">&#160;&#160;&#160;</font><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 10pt">&#160;&#160;&#160;</font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Board of Directors</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Acme United Corporation</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">60 Round Hill Road</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Fairfield, CT 06824</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Dear Sirs and Madam:</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We are corporate general counsel for Acme United
Corporation (the &#8220;Company&#8221;).&#160;&#160;We are delivering this opinion in
connection with the filing with the Securities and Exchange Commission (the
&#8220;Commission&#8221;) on or about the date hereof of a Form S-8 Registration Statement
(the &#8220;Registration Statement&#8221;) relating to 150,000 shares of Common Stock, par
value $2.50 per share, of the Company (the &#8220;Shares&#8221;) to be offered pursuant to
the Acme United Corporation Employee Stock Option Plan, as amended (the
&#8220;Plan&#8221;).</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">We have examined and are familiar with (i) the Restated
Certificate of Incorporation and the Bylaws of the Company; (ii) the corporate
proceedings approving the Plan; (iii) the Plan; (iv) a form of the option
agreements for the Shares; and (v) such other documents and instruments as we
have considered necessary for the purposes of the opinions hereinafter set
forth.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">In our examination of the aforesaid documents, we have
assumed the genuineness of all signatures, the legal capacity of all natural
persons, the accuracy and completeness of all documents submitted to us, the
authenticity of all original documents, and the conformity to authentic original
documents of all submitted to us as copies (including
telecopies).&#160;&#160;This opinion letter is given, and all statements herein
are made, in the context of the foregoing.</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based upon the foregoing, we are of the opinion
that:</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
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              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">1.</font></div>
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            <td>
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2</font></div>
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      hereof, and payment to the Company of the required option price for the
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solely with regard to the Registration Statement, may be relied upon by you only
in connection with the Registration Statement, and may not be relied upon by any
other person or for any other purpose without our prior written
consent.</font></div>
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connection herewith, we express no opinion on the laws of any jurisdiction other
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in connection with the Registration Statement filed with the Commission to
register the Shares.</font></div>
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            <td width="45%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Very truly yours,</font></font></td>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>acme_s8081210ex231.htm
<DESCRIPTION>EXHIBIT 23.1
<TEXT>
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    <title>acme_s8081210ex231.htm</title>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Exhibit 23.1</font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Consent of Independent Registered Public Accounting
Firm</font></div>
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Registration Statement on Form S-8 (Registration No.
333-&#160;&#160;&#160;&#160;) of Acme United Corporation, of our report dated
March 8, 2010 with respect to the consolidated financial statements and schedule
of Acme United Corporation and subsidiaries included in its Annual Report on
Form 10-K for the year ended December 31, 2009.</font></div>
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UHY LLP</font></font></div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.02
<SEQUENCE>4
<FILENAME>acme_s8081210ex9902.htm
<DESCRIPTION>EXHIBIT 99.02
<TEXT>
<html>
<head>
    <title>acme_s8081210ex9902.htm</title>
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<!-- Document Created using EDGARizerAgent 5.1.5.0 -->
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</head>
<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Exhibit 99.02</font><br></div>
    <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">ACME UNITED CORPORATION</font></div>
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interests of Acme United Corporation (the "Corporation&#8221;) by enabling its key
employees to acquire an increased proprietary interest in the Corporation and
thus to share in the future success of the Corporation's business. Accordingly,
the Plan is intended as a means not only of attracting and retaining outstanding
management personnel but also of promoting a closer identity of interests
between employees and stockholders. Since the employees eligible to receive
Options under the Plan will be those who are in a position to make important and
direct contributions to the success of the Corporation, the Directors believe
that the grant of the Options under the Plan will be in the best interests of
the Corporation.</font></div>
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following terms when used in the Plan, shall have the meanings set forth in this
Section 2.</font></div>
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      inheritance.</font></div>
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Corporation.</font></div>
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      Section 422 of the Code.</font></div>
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    </div>
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      Corporation, as adjusted in accordance with Section 16 of the
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words in the masculine form shall be deemed to refer to females as well as to
males.</font></div>
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<tr valign="top">
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              <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The stock to be covered by the Options is the Common
      Stock of the Corporation. The aggregate number of shares of Common Stock
      which may be delivered on exercise of the Options is 760,000 shares,
      subject to adjustment pursuant to Section 16.
</font></div>
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<tr valign="top">
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              <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">As determined by the Board from time to time, such
      shares may be previously issued shares reacquired by the Corporation or
      authorized but unissued shares. If any Option expires or terminates for
      any reason without having been exercised in full, the Shares covered by
      the unexercised portion of such Option shall again be available for
      Options, within the limits specified above.
</font></div>
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<tr valign="top">
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              <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Plan shall be administered by the Board of
      Directors of the Corporation, which shall accept, amend, or reject
      recommendations made by the Committee. In addition to its duties with
      respect to the Plan stated elsewhere in the Plan, Board shall have full
      authority, consistent with the Plan, to interpret the Plan, to promulgate
      such rules and regulations with respect to the Plan as it deems desirable
      and to make all other determinations necessary or desirable for the
      administration of the Plan. All decisions, determinations, and
      interpretations of the Board shall be binding upon all persons.
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      and no employee of the Corporation shall be liable for any act or action
      hereunder, whether of omission or commission, by any other member or
      employee or by any agent to whom duties in connection with the
      administration of the plan have been delegated in accordance with the
      provisions of the Plan or, except in circumstances involving his bad
      faith, for anything done or omitted to be done by himself.
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<tr valign="top">
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              <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Except as provided in Section 7, it is intended that
      the stock options granted pursuant to the Plan constitute Incentive Stock
      Options within the meaning of Section 422 of the Code. The Board shall
      administer the Plan in such a manner as to establish and maintain such
      Options as Incentive Stock Options.
</font></div>
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<tr valign="top">
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      substitute Options which are not intended to be Incentive Stock Options
      for outstanding Incentive Stock Options. Any such substitution shall not
      constitute the grant of a new Option for the purposes of this Plan, and
      shall not require a revaluation of the Option exercised prior to the
      substituted Option. Any such substitution shall be implemented by an
      amendment to the applicable Option Agreement or in such other manner as
      the Board in its discretion shall determine.
</font></div>
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<tr valign="top">
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              <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Committee, subject to the approval of the Board,
      shall make such provision as it deems necessary or appropriate for the
      withholding of any federal, state, local or other tax required to be
      withheld with regard to the exercise of an Option under the Plan.
      </font></div>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
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<tr valign="top">
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              <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Board, upon the recommendation of the Committee,
      shall from time to time in its discretion select the employees to whom the
      options shall be granted from among the key employees of the Corporation
      and any Subsidiary. </font></div>
            </td>
          </tr></table>
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<tr valign="top">
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              <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Members of the Board of Directors who are not regular
      salaried employees of the Corporation or a Subsidiary shall not be
      eligible to receive Options. </font></div>
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          </tr></table>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
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<tr valign="top">
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              <div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">An individual employee may receive more than one
      Option. </font></div>
            </td>
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
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<tr valign="top">
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              <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">No Option shall be exercised by an Optionee unless he
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    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
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<tr valign="top">
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      authorized to execute and deliver Option Agreements in the name of the
      Corporation as directed from time to time by the Board.
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<tr valign="top">
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      Committee, shall in it discretion determine the time or times when Options
      shall be granted and the number of shares of Common Stock to be subject to
      each Option.</font></div>
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          </tr></table>
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<tr valign="top">
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      date the Option is granted) of the stock with respect to which Incentive
      Stock Options are exercisable for the first time by an individual during
      any calendar year (under all stock option plans of the Corporation and its
      Subsidiaries) shall not exceed
$100,000.00.</font></div>
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<tr valign="top">
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      owns (within the meaning of Section 422(b)(6) of the code) stock
      possessing more than ten percent of the total combined voting power of all
      classes of stock of the Corporation unless the following requirements are
      satisfied: (i) notwithstanding the provisions of Section 8, the purchase
      price for each share of common stock subject to an Option shall be at
      least 110 percent of the fair market value of the Common Stock subject to
      the Option at the time the Option is granted; and (ii) the Option is not
      exercisable after the expiration of five (5) years from the date such
      Option is
granted.</font></font></font></font></div>
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<tr valign="top">
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<tr valign="top">
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      which shall state the terms and conditions of the Option in accordance
      with the Plan, and also shall contain such additional provisions as may be
      necessary or appropriate under applicable laws, regulations, and
      rules.</font></div>
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    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">8.&#160; OPTION PRICE</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 82px">
                <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;&#160;</font></div>
              </td>
              <td width="1555">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Subject to Section 7(c), the purchase price for each
      share of Common Stock subject to an Option shall be one hundred percent
      (100%) of the Fair Market Value of the Common Stock on the date the Option
      is granted provided, however, that the purchase price shall not be less
      than the par value of the Common Stock which is the subject of the
      Option.</font></div>
                </div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    </div>
    <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">9.&#160;
</font>OPTION PERIOD; EXERCISE RIGHTS</font></font></font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">a)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Each Option shall be for such term as the Board shall
      determine, but not more than ten years from the date it is granted, and
      shall be subject to earlier termination as provided in Section
      1O.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">b)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Options shall be exercisable in accordance with the
      following schedule: <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">25%</font>
      one day after first year anniversary of date of grant; <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">25%</font>
      one day after second year anniversary of date of grant; <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">25%</font>
      one day after third year anniversary of date of grant;&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">25%</font>
      one day after fourth year anniversary of date of
  grant.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">c)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Upon the purchase of shares of Common Stock under an
      Option, the Stock certificate or certificates may, at the request of the
      purchaser, be issued in his name and the name of another person as joint
      tenants with the right of
survivorship.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 8pt">3</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="1">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">d)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The exercise of each Option granted under the Plan
      shall be subject to the condition that if at any time the Corporation
      shall determine in its discretion that the listing, registration, or
      qualification of any shares of Common Stock otherwise deliverable upon
      such exercise upon any securities exchange or under any State or Federal
      law, or the consent or approval of any regulatory body, is necessary or
      desirable as a condition of, or in connection with, such exercise or the
      delivery or purchase of shares thereunder, then in any such event such
      exercise shall not be effective unless such listing, registration,
      qualification, consent or approval shall have been effected or obtained
      free of any conditions not acceptable to the Corporation. Any such
      postponement shall not extend the time within which the Option may be
      exercised; and neither the Corporation nor its directors or officers shall
      have any obligation or liability to the Optionee or to a Beneficiary with
      respect to any shares of Common Stock as to which the Option shall lapse
      because of such postponement.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 9pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">10.&#160;
</font>EXERCISE RIGHTS UPON TERMINATION OF
EMPLOYMENT</font></font></font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(a)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Retirement</font></div>
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Except as provided in paragraph (e) of this section
      10, if an Optionee retires under a retirement or pension plan of the
      Corporation or of a Subsidiary, the Optionee's Option shall terminate one
      year after the date of such retirement but in no event later than the date
      on which it would have expired if the Optionee had not retired, provided,
      however, that if the Option is exercised later than three months from the
      date of such retirement such Option shall not constitute an Incentive
      Stock Option. During such period the Optionee may exercise the Option in
      whole or in part notwithstanding the limitations of Section 9(b) or any
      limitation that may have been set by the Board pursuant
      thereto.</font></div>
              </div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(b)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Disability
      </font>
                <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Except as provided in paragraph (e) of this section
      10, if an Optionee becomes disabled, the Optionee may exercise the Option
      (i) within one year after the date of Disability, but in no event later
      than the date on which it would have expired if the Optionee had not
      become disabled, or (ii) within such other period, not exceeding three
      years after the date of Disability, as shall be prescribed in the Option
      Agreement; provided, however, that if the Option is exercised later than
      one year after the date of Disability, it shall not constitute an
      Incentive Stock Option. During such period the Optionee may exercise the
      Option in whole or in part notwithstanding the limitations of Section 9(b)
      or any limitation that may have been set by the Board pursuant
      thereto.</font></div>
              </div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(c)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Death
      </font>
                <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">If an Optionee dies during a period in which he or
      she is entitled to exercise an Option (including the period referred to in
      paragraphs (a),(b),(d),and (e)of this Section 1O), the Option may be
      exercised at any time within one year from the date of the Optionee's
      death, but in no event later than the date on which it would have expired
      if the Optionee had lived, by the Optionee's Beneficiary, in whole or in
      part notwithstanding the limitations of Section 9(b) or any limitation
      that may have been set by the <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">Board</font>
      pursuant thereto. </font></div>
              </div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(d)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Termination of Employment for Any Other
      Reason</font></div>
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
                <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Except as provided in paragraph (e) of this section
      10, if an Optionee ceases to be employed by
      the&#160;&#160;&#160;Corporation or a Subsidiary for any reason other than
      retirement, disability, or death, the Optionee's Option shall terminate 30
      days after the date of such cessation of employment, but in no event later
      than the date on which it would have expired if such cessation of
      employment had not occurred. During such period the option may be
      exercised only to the extent that the Optionee was entitled to do so under
      Section 9(b) at the date of cessation of employment unless the Board, in
      its sole and nonreviewable discretion, permits exercise of the Option to a
      greater extent.&#160;&#160;Except to the extent required by law, the
      employment of an Optionee shall not be deemed to have ceased upon his or
      her absence from the Corporation or a Subsidiary on a leave of absence
      granted in accordance with the usual procedure of the Corporation or
      Subsidiary.</font></div>
              </div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 8pt">4</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="1">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
      <div>&#160;</div>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(e)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Notwithstanding any language of the Plan to the
      contrary, if an Optionee ceases to be employed by the Corporation or a
      Subsidiary and becomes, or continues to be, a member of the Board of
      Directors prior to the time the Optionee&#8217;s Option(s) would have otherwise
      expired <font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">pursuant to this Section 10, the Optionee&#8217;s Option(s)
      shall continue to vest in accordance with Section 8(b) hereof and shall
      continue to be exercisable for the remainder of the term </font><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">of the Option(s); provided, that, if an Optionee
      described in this Section 10(e) ceases to be a member of the Board of
      Directors for any reason, the Optionee&#8217;s Option(s) shall terminate in
      accordance with the provisions of Section 2.4(a) of the Amended and
      Restated Acme United Corporation Non-Salaried Director Stock Option
      Plan.&#160;&#160;Any Option which is not exercised by the Optionee within
      the three-month period immediately following the Optionee&#8217;s termination of
      employment, or, in the case of termination of employment on account of
      Disability, within one year after the date of Disability, shall cease to
      be an Incentive Stock
Option.</font></font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 9pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">11.
&#160;</font>METHOD OF EXERCISE</font></font></font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(a)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Each exercise of an Option shall be by written notice
      to the Secretary of the Corporation, stating the number of shares to be
      purchased. An Option may be exercised with respect to all, or any part of,
      the Shares of Common Stock as to which it is exercisable at the
      time.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(b)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The purchase price of the shares being purchased
      shall be paid in full at the time the Option is exercised. Such payment
      shall be made in cash in United States
currency.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 9pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">12.&#160;
</font>NONTRANSFIERABILITY OF OPTIONS</font></font></font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 82px">
                <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>
              </td>
              <td width="1555">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Each Option shall be nonassignable and
      nontransferable by the Optionee other than by will or by the laws of
      descent and distribution. Each Option shall be exercisable during the
      Optionee's lifetime only by the
  Optionee.</font></div>
                </div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 9pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">13.&#160;
</font>SHAREHOLDER RIGHTS</font></font></font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">
        <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                <td align="right" style="WIDTH: 82px">
                  <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>
                </td>
                <td width="1555">
                  <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                    <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                      <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">No person shall have any rights of a shareholder by
      virtue of an Option except with respect to shares actually issued to him
      and registered on the transfer books of the Corporation, and the issuance
      of shares shall confer no retroactive right to
      dividends.</font></div>
                    </div>
                  </div>
                </td>
              </tr></table>
        </div>
        <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
      </div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 9pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">14.&#160;
</font>USE OF PROCEEDS</font></font></font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 82px">
                <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>
              </td>
              <td width="1555">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                    <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The proceeds received by the Corporation from the
      sale by it of shares of Common Stock to persons exercising an Option
      pursuant to the Plan will be used for the general purposes of the
      Corporation or any
  Subsidiary.</font></div>
                  </div>
                </div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 9pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">15.&#160;
</font>GENERAL PROVISIONS</font></font></font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">
        <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
        <div>
          <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                <td align="right" style="WIDTH: 82px">
                  <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>
                </td>
                <td width="1555">
                  <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                    <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                      <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The grant of an Option in any year shall not give the
      Optionee any right to similar grants in future years or any right to be
      retained in the employ of the Corporation or any
      Subsidiary.</font></div>
                    </div>
                  </div>
                </td>
              </tr></table>
        </div>
        <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
      </div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 9pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">16.&#160;
</font>ADJUSTMENT UPON CHANGES IN
CAPITALIZATION</font></font></font></font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 82px">
                <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>
              </td>
              <td width="1555">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                    <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">If there is a change in the number or kind of
      outstanding shares of the Corporation&#8217;s stock by reason of a stock
      dividend, stock split, recapitalization, merger, consolidation,
      combination, or other similar event, appropriate adjustments shall be made
      by the Board to the number and kind of shares subject to the Plan, the
      number and kind of shares under Options then outstanding, the maximum
      number of shares available for Options or the Option Price and other
      relevant
provisions.</font></div>
                  </div>
                </div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    </div>
    <div id="PGBRK" style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="TEXT-ALIGN: center; WIDTH: 100%"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 8pt">5</font></div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
        <div style="TEXT-ALIGN: center; WIDTH: 100%">
          <hr style="COLOR: black" noshade size="1">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 9pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-WEIGHT: normal">17.
&#160;</font>EFFECT OF MERGER OR OTHER
REORGANIZATION</font></font></font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">
        <div style="TEXT-INDENT: 0pt; DISPLAY: block">
          <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
          <div>
            <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
                  <td align="right" style="WIDTH: 82px">
                    <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>
                  </td>
                  <td width="1555">
                    <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                      <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                        <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">If the Corporation shall be the surviving corporation
      in a merger or other reorganization, an Option shall extend to stock and
      securities of the Corporation to the same extent that a holder of that
      number of Shares immediately before the merger or consolidation
      corresponding to the number of Shares covered by the Option would be
      entitled to have or obtain stock and securities of the Corporation under
      the terms of the merger or consolidation. If the Corporation dissolves,
      sells substantially all of its assets, is acquired in a stock for stock or
      securities exchange, or is a party to a merger or other reorganization in
      which it is not the surviving corporation, then each Option shall be
      exercisable within the period of sixty (60) days commencing upon the date
      of the action of the shareholders (or the Board if shareholders' action is
      not required) is taken to approve the transaction and upon the expiration
      of that period all Options and all rights thereto shall automatically
      terminate.</font></div>
                      </div>
                    </div>
                  </td>
                </tr></table>
          </div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
        </div>
      </div>18.&#160;
TERMINATION; AMMENDMENTS</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(a)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Board may at any time terminate the Plan. Unless
      the Plan shall previously have been terminated by the Board, it shall
      terminate on February 26, 2012. No Option may be granted after such
      termination.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(b)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Board may at any time or times amend the Plan or
      amend any outstanding Option for the purpose of satisfying the
      requirements of any changes in applicable laws or regulations or for any
      other purpose which at the time may be permitted by
  law.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(c)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">Except as provided in Section 16, no such amendment
      shall, without the approval of the shareholders of the Corporation: (i)
      increase the maximum number of shares of Common Stock for which the
      Options may be granted under the Plan; (ii) reduce the Option price of
      outstanding Options; (iii) extend the period during, which Options may be
      granted; (iv) materially increase in any other way the benefits accruing
      to Optionees; or (v) change the class of persons eligible to be
      Optionees.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
            <td align="right" style="WIDTH: 82px">
              <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(d)&#160;&#160;</font></div>
            </td>
            <td width="1555">
              <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">No termination or amendment of the Plan shall without
      the consent of an Optionee or Beneficiary, adversely affect the Optionee's
      or Beneficiary's right under any Option previously granted, but it shall
      be conclusively presumed that any adjustment for changes in capitalization
      in accordance with Section 16 hereof does not adversely affect any such
      right.</font></div>
            </td>
          </tr></table>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">19.&#160; EFFECTIVE DATE</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 82px">
                <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;</font></div>
              </td>
              <td width="1555">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The effective date of the Plan is February 26,
      2002.</font></div>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(As amended April 25, 2005).</font></div>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(As further amended June 12, 2006).</font></div>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(As further amended April 23, 2007).</font></div>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(As further amended April 20, 2009).</font></div>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">(As further amended April 19,
      2010).</font></div>
                </div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    </div>
    <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">20.&#160; GOVERNING LAW</font></div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
      <div>
        <table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr valign="top">
              <td align="right" style="WIDTH: 82px">
                <div><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">&#160;&#160;</font></div>
              </td>
              <td width="1555">
                <div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">      </font>
                  <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal">The Plan shall be construed and its provisions
      enforced and administered in accordance with and under the laws of
      Connecticut except to the extent that such laws may be superseded by any
      Federal law.</font></div>
                </div>
              </td>
            </tr></table>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    </div>
    <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
    <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 8pt">6</font></font>

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