THERMO FIBERTEK INC.
THERMO FIBERGEN NONQUALIFIED STOCK OPTION PLAN
This Nonqualified Stock Option Plan (the "Plan") is intended to encourage ownership of Common Stock, $0.01
par value (the "Common Stock"), of Thermo Fibergen Inc. ("Subsidiary"), a subsidiary of Thermo Fibertek Inc.
(the "Company"), by persons selected by the Board of Directors (or a committee thereof) in its sole discretion,
including directors, executive officers, key employees and consultants of the Company and its subsidiaries, and to
provide additional incentive for them to promote the success of the business of the Company and Subsidiary. The
Plan is intended to be a nonstatutory stock option plan.
2. Effective Date of the Plan
The Plan shall become effective when adopted by the Board of Directors of the Company.
3. Stock Subject to Plan
At no time shall the number of shares of the Common Stock then outstanding which are attributable to the
exercise of options granted under the Plan plus the number of shares then issuable upon the exercise of
outstanding options granted under the Plan exceed 200,000 shares, subject however, to the provisions of
paragraph 11 of the Plan. Shares to be issued upon the exercise of options granted under the Plan shall be shares
of Subsidiary beneficially owned by the Company. If any option expires or terminates for any reason without
having been exercised in full, the unpurchased shares subject thereto shall again be available for options thereafter
to be granted.
The Plan shall be administered by a committee (the "Committee") composed of the members of the Board of
Directors of the Company, no member of which shall act upon any matter exclusively affecting any option granted
or to be granted to himself or herself under the Plan. Subject to the provisions of the Plan, the Committee shall
have complete authority, in its discretion, to make the following determinations with respect to each option to be
granted by the Company: (a) the per