INVESTORS CAPITAL HOLDINGS, LTD.
1996 STOCK INCENTIVE PLAN
The purpose of the INVESTORS CAPITAL HOLDINGS, LTD, 1996 Stock Incentive Plan (the "Plan") is two-
fold. First, the Plan will further the interest of INVESTORS CAPITAL HOLDINGS, LTD., (the "Company" or
"INVESTORS"), any subsidiaries it may have and its stockholders by providing incentives in the form of stock
options grants and/or restricted stock grants to key employees who contribute materially to the success and
profitability of the Company. The grants shall recognize and reward outstanding individual performances and
contributions and shall give such persons a propriety interest in the Company, thus enhancing their personal
interest in the Company's continued success and progress, This Plan also shall assist the Company and any
subsidiaries it may have in attracting and retaining key persons. Second, the Plan will provide the Company
flexibility and the means to reward directors and other non-employees who render valuable contributions to the
The following terms when used in the Plan, shall have the meanings set forth below:
Award: An award or grant of a Stock Option or Restricted Stock by the Committee to a Participant under the
Beneficiary: Beneficiary shall mean the person or persons designated concurrently, successively or contingently by
a Participant in his or her last effective writing filed with the Company prior to the Participant's death.
other committee as may be duly appointed by the Board from time to time to administer the Plan, in accordance
with Section 3 of the Plan.
Board: The Board of Directors of the Company.
Code: The Internal Revenue Code of 1986, as amended.
Committee: The Compensation Committee of the Board, or such
Common Stock: The Common Stock of the Company, par value $.01, or such other securities to which the Man
may apply pursuant to Section 8 of the Plan.