ULTIMATE SPORTS ENTERTAINMENT, INC.
STOCK OPTION PLAN
1.1. PURPOSE OF THE PLAN
This Stock Option Plan (the "Plan") is intended to promote the interests of Ultimate Sports Entertainment, Inc., a
Delaware corporation, (the "Corporation") by providing eligible persons with the opportunity to acquire or
increase their proprietary interest in the Corporation as an incentive for them to remain in the Service of the
Capitalized terms shall have the meanings assigned to such terms in the attached Appendix.
1.2. ADMINISTRATION OF THE PLAN
a. Prior to the Section 12(g) Registration Date, the Plan shall be administered by the Board or a committee of the
b. Beginning with the Section 12(g) Registration Date, the Primary Committee shall have sole and exclusive
authority to administer the Plan with respect to Section 16 Insiders. Administration of the Plan with respect to all
other persons eligible under the Plan may, at the Board's discretion, be vested in the Primary Committee or a
Secondary Committee, or the Board may retain the power to administer the Plan with respect to all such persons.
c. Members of the Primary Committee or any Secondary Committee shall serve for such period of time as the
Board may determine and may be removed by the Board at any time. The Board may also terminate the
functions of any Secondary Committee at any time and reassume all powers and authority previously delegated to
d. Each Plan Administrator shall, within the scope of its administrative functions under the Plan, have full power
and authority to establish such rules and regulations as it may deem appropriate for proper administration of the
Plan and to make such determinations under, and issue such interpretations of, the provisions of the Plan and any
outstanding options thereunder as it may deem necessary or advisable. Decisions of the Plan Administrator within
the scope of its administrative functions under the Plan shall