9.	Stock Plan

1993 Omnibus Stock Plan

Under its 1993 Omnibus Stock Plan, as amended (the “Omnibus Plan”), the Company reserved up to 3,000,000 shares of its common stock for issuance pursuant to the grant of incentive stock options, nonqualified stock options, or restricted stock. The Omnibus Plan is administered by the Compensation Committee of the Board of Directors. Subject to the provisions of the Omnibus Plan, the Compensation Committee had the authority to select the optionees or restricted stock recipients and determine the terms of the options or restricted stock granted, including: (i) the number of shares; (ii) the exercise period (which may not exceed ten years); (iii) the exercise or purchase price (which in the case of an incentive stock option cannot be less than the market price of the common stock on the date of grant); (iv) the type and duration of options or restrictions, limitations on transfer, and other restrictions; and (v) the time, manner, and form of payment.

Generally, an option is not transferable by the option holder except by will or by the laws of descent and distribution. Also, generally, no incentive stock option may be exercised more than 60 days following termination of employment. However, in the event that termination is due to death or disability, the option is exercisable for a maximum of 180 days after such termination.

Options granted under this plan generally become exercisable in three equal installments commencing on the first anniversary of the date of grant. Options granted during 2003 became exercisable in two equal installments commencing on the first anniversary of the date of grant. As the Omnibus Plan terminated in May 2003 except as to options outstanding at that time, no further options were granted under the plan.

All options outstanding relating to the Company’s Omnibus Plan either were exercised or expired during 2013. Accordingly, no options to purchase shares of common stock were outstanding at December 31, 2014 and 2013. In addition, no further options are available for grant under the plan.

The following summarizes the status of the Company’s incentive stock options as of December 31, 2014 and 2013 and changes for the years then ended:


	2014				2013
	Shares		Weighted Exercise Price		Shares			Weighted Exercise Price
Outstanding at the beginning of year		—	$	—		55,000		$	0.10
Granted		—		—		—			—
Exercised		—		—		(35,000	)		0.10
Expired/Forfeited		—		—		(20,000	)		0.10

Outstanding at end of year		—		—		—			—


Options exercisable at year-end		—		—		—			—


Options available for future grant		—				—


Weighted average fair value of options granted during the year		Not applicable				Not applicable