DIONEX CORPORATION
	STOCK OPTION PLAN

	(As Amended and Restated July 28, 1997)



1.	PURPOSES.
	(a)	The purpose of the Plan is to provide a means by 
which selected Employees of and Consultants to the Company, 
and its Affiliates, may be given an opportunity to purchase 
stock of the Company.
	(b)	The Company, by means of the Plan, seeks to retain 
the services of persons who are now Employees of or 
Consultants to the Company or its Affiliates, to secure and 
retain the services of new Employees and Consultants, and to 
provide incentives for such persons to exert maximum efforts 
for the success of the Company and its Affiliates.
	(c)	The Company intends that the Options issued under 
the Plan shall, in the discretion of the Board or any 
Committee to which responsibility for administration of the 
Plan has been delegated pursuant to subsection 3(c), be 
either Incentive Stock Options or Nonstatutory Stock 
Options.  All Options shall be separately designated 
Incentive Stock Options or Nonstatutory Stock Options at the 
time of grant, and in such form as issued pursuant to 
Section 6, and a separate certificate or certificates will 
be issued for shares purchased on exercise of each type of 
Option.
2.	DEFINITIONS.
 	(a)	"Affiliate" means any parent corporation or 
subsidiary corporation, whether now or hereafter existing, 
as those terms are defined in Sections 424(e) and (f) 
respectively, of the Code.
	(b)	"Board" means the Board of Directors of the 
Company.
	(c)	"Code" means the Internal Revenue Code of 1986, as 
amended.
	(d)	"Committee" means a Committee appointed by the 
Board in accordance with subsection 3(c) of the Plan.
	(e)	"Company" means Dionex Corporation, a Delaware 
corporation.
	(f)	"Consultant" means any person, including an 
advisor, engaged by the Company or an Affiliate to render 
consulting services and who is compensated for such 
services, provided that the term "Consultant" shall not 
include Directors who are paid only a director's fee by the 
Company or who are not compensated by the Company for their 
services as Directors.
	(g)	"Continuous Status as an Employee or Consultant" 
means the employment or relationship as a Consultant is not 
interrupted or terminated.  The Board, in its sole 
discretion, may determine whether Continuous Status as an 
Employee or Consultant shall be considered interrupted in 
the case of:  (i) any leave of absence approved by the 
Board, including sick leave, military leave, or any other 
personal leave; or (ii) transfers between locations of the 
Company or between the Company, Affiliates or their 
successors.
	(h)	"Covered Employee" means the chief executive 
officer and the four (4) other highest compensated officers 
of the Company for whom total compensation is required to be 
reported to shareholders under the Exchange Act, as 
determined for purposes of Section 162(m) of the Code.
	(i)	"Director" means a member of the Board.
	(j)	"Employee" means any person, including Officers 
and Directors, employed by the Company or any Affiliate of 
the Company.  Neither service as a Director nor payment of a 
director's fee by the Company shall be sufficient to 
constitute "employment" by the Company.
	(k)	"Exchange Act" means the Securities Exchange Act 
of 1934, as amended.
	(l)	"Fair Market Value" means, as of any date, the 
value of the common stock of the Company determined as 
follows:
		(1)	If the common stock is listed on any 
established stock exchange or a national market system, 
including without limitation the Nasdaq National Market, the 
Fair Market Value of a share of common stock shall be the 
closing sales price for such stock (or the closing bid, if 
no sales were reported) as quoted on such system or exchange 
(or the exchange with the greatest volume of trading in 
common stock) on the last market trading day prior to the 
day of determination, as reported in the Wall Street Journal 
or such other source as the Board deems reliable;
		(2)	If the common stock is not quoted on the 
Nasdaq National Market, or if the common stock is regularly 
quoted by a recognized securities dealer but selling prices 
are not reported, the Fair Market Value of a share of common 
stock shall be the mean between the bid and asked prices for 
the common stock on the last market trading day prior to the 
day of determination, as reported in the Wall Street Journal 
or such other source as the Board deems reliable;
		(3)	In the absence of an established market for 
the common stock, the Fair Market Value shall be determined 
in good faith by the Board.
	(m)	"Incentive Stock Option" means an Option intended 
to qualify as an incentive stock option within the meaning 
of Section 422 of the Code and the regulations promulgated 
thereunder.
	(n)	"Non-Employee Director" means a Director who 
either (i) is not a current Employee or Officer of the 
Company or its parent or subsidiary, does not receive 
compensation (directly or indirectly) from the Company or 
its parent or subsidiary for services rendered as a 
Consultant or in any capacity other than as a Director 
(except for an amount as to which disclosure would not be 
required under Item 404(a) of Regulation S-K promulgated 
pursuant to the Securities Act of 1933 ("Regulation S-K"), 
does not possess an interest in any other transaction as to 
which disclosure would be required under Item 404(a) of 
Regulation S-K, and is not engaged in a business 
relationship as to which disclosure would be required under 
Item 404(b) of Regulation S-K; or (ii) is otherwise 
considered a "non-employee director" for purposes of Rule 
16b-3.
	(o)	"Nonstatutory Stock Option" means an Option not 
intended to qualify as an Incentive Stock Option.
	(p)	"Officer" means a person who is an officer of the 
Company within the meaning of Section 16 of the Exchange Act 
and the rules and regulations promulgated thereunder.
	(q)	"Option" means a stock option granted pursuant to 
the Plan.
	(r)	"Option Agreement" means a written agreement 
between the Company and an Optionee evidencing the terms and 
conditions of an individual Option grant.  Each Option 
Agreement shall be subject to the terms and conditions of 
the Plan.
	(s)	"Optionee" means an Employee or Consultant who 
holds an outstanding Option.
	(t)	"Outside Director" means a Director who either 
(i) is not a current employee of the Company or an 
"affiliated corporation" (within the meaning of the Treasury 
regulations promulgated under Section 162(m) of the Code), 
is not a former employee of the Company or an "affiliated 
corporation" receiving compensation for prior services 
(other than benefits under a tax qualified pension plan), 
was not an officer of the Company or an "affiliated 
corporation" at any time, and is not currently receiving 
direct or indirect remuneration from the Company or an 
"affiliated corporation" for services in any capacity other 
than as a Director, or (ii) is otherwise considered an 
"outside director" for purposes of Section 162(m) of the 
Code.
	(u)	"Plan" means this Dionex Corporation Stock Option 
Plan.
	(v)	"Rule 16b-3" means Rule 16b-3 of the Exchange Act 
or any successor to Rule 16b-3, as in effect when discretion 
is being exercised with respect to the Plan.
3.	ADMINISTRATION.
	(a)	The Plan shall be administered by the Board unless 
and until the Board delegates administration to a Committee, 
as provided in subsection 3(c).
	(b)	The Board shall have the power, subject to, and 
within the limitations of, the express provisions of the 
Plan:
		(1)	To determine from time to time which of the 
persons eligible under the Plan shall be granted Options; 
when and how each Option shall be granted; whether an Option 
will be an Incentive Stock Option or a Nonstatutory Stock 
Option; the provisions of each Option granted (which need 
not be identical), including the time or times such Option 
may be exercised in whole or in part; and the number of 
shares for which an Option shall be granted to each such 
person.
		(2)	To construe and interpret the Plan and 
Options granted under it, and to establish, amend and revoke 
rules and regulations for its administration.  The Board, in 
the exercise of this power, may correct any defect, omission 
or inconsistency in the Plan or in any Option Agreement, in 
a manner and to the extent it shall deem necessary or 
expedient to make the Plan fully effective.
		(3)	To amend the Plan or an Option as provided in 
Section 11.
		(4)	Generally, to exercise such powers and to 
perform such acts as the Board deems necessary or expedient 
to promote the best interests of the Company.
	(c)	The Board may delegate administration of the Plan 
to a committee composed of not fewer than two (2) members 
(the "Committee"), all of the members of which Committee may 
be Non-Employee Directors and may also be, in the discretion 
of the Board, Outside Directors.  If administration is 
delegated to a Committee, the Committee shall have, in 
connection with the administration of the Plan, the powers 
theretofore possessed by the Board (and references in this 
Plan to the Board shall thereafter be to the Committee), 
subject, however, to such resolutions, not inconsistent with 
the provisions of the Plan, as may be adopted from time to 
time by the Board.  The Board may abolish the Committee at 
any time and revest in the Board the administration of the 
Plan.  Notwithstanding anything in this Section 3 to the 
contrary, the Board or the Committee may delegate to a 
committee of one or more members of the Board the authority 
to grant Options to eligible persons who (1) are not then 
subject to Section 16 of the Exchange Act and/or (2) are 
either (i) not then Covered Employees and are not expected 
to be Covered Employees at the time of recognition of income 
resulting from such Option, or (ii) not persons with respect 
to whom the Company wishes to comply with Section 162(m) of 
the Code.
4.	SHARES SUBJECT TO THE PLAN.
	(a)	Subject to the provisions of Section 10 relating 
to adjustments upon changes in stock, the stock that may be 
sold pursuant to Options shall not exceed in the aggregate 
Three Million (3,000,000) shares of the Company's common 
stock.  If any Option shall for any reason expire or 
otherwise terminate, in whole or in part, without having 
been exercised in full, the stock not purchased under such 
Option shall revert to and again become available for 
issuance under the Plan.
	(b)	The stock subject to the Plan may be unissued 
shares or reacquired shares, bought on the market or 
otherwise.
5.	ELIGIBILITY.
	(a)	Incentive Stock Options may be granted only to 
Employees.  Nonstatutory Stock Options may be granted only 
to Employees or Consultants.
	(b)	No person shall be eligible for the grant of an 
Incentive Stock Option if, at the time of grant, such person 
owns (or is deemed to own pursuant to Section 424(d) of the 
Code) stock possessing more than ten percent (10%) of the 
total combined voting power of all classes of stock of the 
Company or of any of its Affiliates unless the exercise 
price of such Option is at least one hundred ten percent 
(110%) of the Fair Market Value of such stock at the date of 
grant and the Incentive Stock Option is not exercisable 
after the expiration of five (5) years from the date of 
grant.
	(c)	Subject to the provisions of Section 10 relating 
to adjustments upon changes in stock, no person shall be 
eligible to be granted Options covering more than two 
hundred thousand (200,000) shares of the Company's common 
stock in any twelve (12)-month period.
6.	OPTION PROVISIONS.
	Each Option shall be in such form and shall contain 
such terms and conditions as the Board shall deem 
appropriate.  The provisions of separate Options need not be 
identical, but each Option shall include (through 
incorporation of provisions hereof by reference in the 
Option or otherwise) the substance of each of the following 
provisions:
	(a)	Term.  No Option shall be exercisable after the 
expiration of ten (10) years from the date it was granted.
	(b)	Price.  The exercise price of each Incentive Stock 
Option shall be not less than one hundred percent (100%) of 
the Fair Market Value of the stock subject to the Option on 
the date the Option is granted.  The exercise price of each 
Nonstatutory Stock Option shall be not less than eighty-five 
percent (85%) of the Fair Market Value of the stock subject 
to the Option on the date the Option is granted.
	(c)	Consideration.  The purchase price of stock 
acquired pursuant to an Option shall be paid, to the extent 
permitted by applicable statutes and regulations, either 
(i) in cash at the time the Option is exercised, or (ii) at 
the discretion of the Board or the Committee, at the time of 
the grant of the Option, (A) by delivery to the Company of 
other common stock of the Company, (B) according to a 
deferred payment or other arrangement (which may include, 
without limiting the generality of the foregoing, the use of 
other common stock of the Company) with the person to whom 
the Option is granted or to whom the Option is transferred 
pursuant to subsection 6(d), or (C) in any other form of 
legal consideration that may be acceptable to the Board.  In 
the case of any deferred payment arrangement, interest shall 
be payable at least annually and shall be charged at the 
minimum rate of interest necessary to avoid the treatment as 
interest, under any applicable provisions of the Code, of 
any amounts other than amounts stated to be interest under 
the deferred payment arrangement.  Notwithstanding anything 
to the foregoing, the "par value" of the common stock may 
not be paid by deferred payment.
	(d)	Transferability.  An Incentive Stock Option shall 
not be transferable except by will or by the laws of descent 
and distribution, and shall be exercisable during the 
lifetime of the person to whom the Incentive Stock Option is 
granted only by such person.  A Nonstatutory Stock Option 
may be transferred to the extent provided in the Option 
Agreement; provided that if the Option Agreement does not 
expressly permit the transfer of a Nonstatutory Stock 
Option, the Nonstatutory Stock Option shall not be 
transferable except by will, by the laws of descent and 
distribution or pursuant to a domestic relations order 
satisfying the requirements of Rule 16b-3, and shall be 
exercisable during the lifetime of the person to whom the 
Option is granted only by such person or any transferee 
pursuant to a domestic relations order.  Notwithstanding the 
foregoing, the person to whom the Option is granted may, by 
delivering written notice to the Company, in a form 
satisfactory to the Company, designate a third party who, in 
the event of the death of the Optionee, shall thereafter be 
entitled to exercise the Option.
	(e)	Vesting.  The total number of shares of stock 
subject to an Option may, but need not, be allotted in 
periodic installments (which may, but need not, be equal).  
The Option Agreement may provide that from time to time 
during each of such installment periods, the Option may 
become exercisable ("vest") with respect to some or all of 
the shares allotted to that period, and may be exercised 
with respect to some or all of the shares allotted to such 
period and/or any prior period as to which the Option became 
vested but was not fully exercised.  The Option may be 
subject to such other terms and conditions on the time or 
times when it may be exercised (which may be based on 
performance or other criteria) as the Board may deem 
appropriate.  The provisions of this subsection 6(e) are 
subject to any Option provisions governing the minimum 
number of shares as to which an Option may be exercised.
	(f)	Securities Law Compliance.  The Company may 
require any Optionee, or any person to whom an Option is 
transferred under subsection 6(d), as a condition of 
exercising any such Option, (1) to give written assurances 
satisfactory to the Company as to the Optionee's knowledge 
and experience in financial and business matters and/or to 
employ a purchaser representative reasonably satisfactory to 
the Company who is knowledgeable and experienced in 
financial and business matters, and that he or she is 
capable of evaluating, alone or together with the purchaser 
representative, the merits and risks of exercising the 
Option; and (2) to give written assurances satisfactory to 
the Company stating that such person is acquiring the stock 
subject to the Option for such person's own account and not 
with any present intention of selling or otherwise 
distributing the stock.  The foregoing requirements, and any 
assurances given pursuant to such requirements, shall be 
inoperative if (i) the issuance of the shares upon the 
exercise of the Option has been registered under a then 
currently effective registration statement under the 
Securities Act of 1933, as amended (the "Securities Act"), 
or (ii) as to any particular requirement, a determination is 
made by counsel for the Company that such requirement need 
not be met in the circumstances under the then applicable 
securities laws.  The Company may, upon advice of counsel to 
the Company, place legends on stock certificates issued 
under the Plan as such counsel deems necessary or 
appropriate in order to comply with applicable securities 
laws, including, but not limited to, legends restricting the 
transfer of the stock.
	(g)	Termination of Employment or Relationship as a 
Consultant.  In the event an Optionee's Continuous Status as 
an Employee or Consultant terminates (other than upon the 
Optionee's death or disability), the Optionee may exercise 
his or her Option (to the extent that the Optionee was 
entitled to exercise it at the date of termination) but only 
within such period of time ending on the earlier of (i) the 
date thirty (30) days after the termination of the 
Optionee's Continuous Status as an Employee or Consultant 
(or such longer or shorter period specified in the Option 
Agreement) or (ii) the expiration of the term of the Option 
as set forth in the Option Agreement.  If, after 
termination, the Optionee does not exercise his or her 
Option within the time specified in the Option Agreement, 
the Option shall terminate, and the shares covered by such 
Option shall revert to and again become available for 
issuance under the Plan.
	(h)	Disability of Optionee.  In the event an 
Optionee's Continuous Status as an Employee or Consultant 
terminates as a result of the Optionee's disability, the 
Optionee may exercise his or her Option (to the extent that 
the Optionee was entitled to exercise it at the date of 
termination), but only within such period of time ending on 
the earlier of (i) the date one (1) year following such 
termination (or such longer or shorter period specified in 
the Option Agreement), or (ii) the expiration of the term of 
the Option as set forth in the Option Agreement.  If, at the 
date of termination, the Optionee is not entitled to 
exercise his or her entire Option, the shares covered by the 
unexercisable portion of the Option shall revert to and 
again become available for issuance under the Plan.  If, 
after termination, the Optionee does not exercise his or her 
Option within the time specified herein, the Option shall 
terminate, and the shares covered by such Option shall 
revert to and again become available for issuance under the 
Plan.
	(i)  Death of Optionee.  In the event of the death of 
an Optionee during, or within a period specified in the 
Option Agreement after the termination of, the Optionee's 
Continuous Status as an Employee or Consultant, the Option 
may be exercised (to the extent the Optionee was entitled to 
exercise the Option at the date of death) by the Optionee's 
estate, by a person who acquired the right to exercise the 
Option by bequest or inheritance or by a person designated 
to exercise the option upon the Optionee's death pursuant to 
subsection 6(d), but only within the period ending on the 
earlier of (i) the date eighteen (18) months following the 
date of death (or such longer or shorter period specified in 
the Option Agreement), or (ii) the expiration of the term of 
such Option as set forth in the Option Agreement.  If, at 
the time of death, the Optionee was not entitled to exercise 
his or her entire Option, the shares covered by the 
unexercisable portion of the Option shall revert to and 
again become available for issuance under the Plan.  If, 
after death, the Option is not exercised within the time 
specified herein, the Option shall terminate, and the shares 
covered by such Option shall revert to and again become 
available for issuance under the Plan.
	(j)	Early Exercise.  The Option may, but need not, 
include a provision whereby the Optionee may elect at any 
time while an Employee or Consultant to exercise the Option 
as to any part or all of the shares subject to the Option 
prior to the full vesting of the Option.  Any unvested 
shares so purchased may be subject to a repurchase right in 
favor of the Company or to any other restriction the Board 
determines to be appropriate.
	(k)	Withholding.  To the extent provided by the terms 
of an Option Agreement, the Optionee may satisfy any 
federal, state or local tax withholding obligation relating 
to the exercise of such Option by any of the following means 
or by a combination of such means:  (1) tendering a cash 
payment; (2) authorizing the Company to withhold shares from 
the shares of the common stock otherwise issuable to the 
Optionee as a result of the exercise of the Option; or (3) 
delivering to the Company owned and unencumbered shares of 
the common stock of the Company.
7.	COVENANTS OF THE COMPANY.
	(a)	During the terms of the Options, the Company shall 
keep available at all times the number of shares of stock 
required to satisfy such Options.
	(b)	The Company shall seek to obtain from each 
regulatory commission or agency having jurisdiction over the 
Plan such authority as may be required to issue and sell 
shares of stock upon exercise of the Options; provided, 
however, that this undertaking shall not require the Company 
to register under the Securities Act either the Plan, any 
Option or any stock issued or issuable pursuant to any such 
Option.  If, after reasonable efforts, the Company is unable 
to obtain from any such regulatory commission or agency the 
authority which counsel for the Company deems necessary for 
the lawful issuance and sale of stock under the Plan, the 
Company shall be relieved from any liability for failure to 
issue and sell stock upon exercise of such Options unless 
and until such authority is obtained.
8.	USE OF PROCEEDS FROM STOCK.
	Proceeds from the sale of stock pursuant to Options 
shall constitute general funds of the Company.
9.	MISCELLANEOUS.
	(a)	The Board shall have the power to accelerate the 
time at which an Option may first be exercised or the time 
during which an Option or any part thereof will vest 
pursuant to subsection 6(e), notwithstanding the provisions 
in the Option stating the time at which it may first be 
exercised or the time during which it will vest.
	(b)	Neither an Optionee nor any person to whom an 
Option is transferred under subsection 6(d) shall be deemed 
to be the holder of, or to have any of the rights of a 
holder with respect to, any shares subject to such Option 
unless and until such person has satisfied all requirements 
for exercise of the Option pursuant to its terms.
	(c)	Nothing in the Plan or any instrument executed or 
Option granted pursuant thereto shall confer upon any 
Employee or Consultant or Optionee any right to continue in 
the employ of the Company or any Affiliate (or to continue 
acting as a Consultant) or shall affect the right of the 
Company or any Affiliate to terminate the employment or 
relationship as a Consultant of any individual with or 
without cause.
	(d)	To the extent that the aggregate Fair Market Value 
(determined at the time of grant) of stock with respect to 
which Incentive Stock Options are exercisable for the first 
time by any Optionee during any calendar year under the Plan 
and all other stock plans of the Company and its Affiliates 
exceeds one hundred thousand dollars ($100,000), the Options 
or portions thereof which exceed such limit (according to 
the order in which they were granted) shall be treated as 
Nonstatutory Stock Options.
10.	ADJUSTMENTS UPON CHANGES IN STOCK.
	(a)	If any change is made in the stock subject to the 
Plan, or subject to any Option (through merger, 
consolidation, reorganization, recapitalization, stock 
dividend, dividend in property other than cash, stock split, 
liquidating dividend, combination of shares, exchange of 
shares, change in corporate structure or otherwise), the 
Plan will be appropriately adjusted in the class(es) and 
maximum number of shares subject to the Plan pursuant to 
subsection 4(a) and the maximum number of shares subject to 
award to any person during any twelve (12) month period 
pursuant to subsection 5(c), and the outstanding Options 
will be appropriately adjusted in the class(es) and number 
of shares and price per share of stock subject to such 
outstanding Options.
	(b)	In the event of:  (1) a dissolution, liquidation 
or sale of substantially all of the assets of the Company; 
(2) a merger or consolidation in which the Company is not 
the surviving corporation; or (3) a reverse merger in which 
the Company is the surviving corporation but the shares of 
the Company's common stock outstanding immediately preceding 
the merger are converted by virtue of the merger into other 
property, whether in the form of securities, cash or 
otherwise, then to the extent permitted by applicable law:  
(i) any surviving corporation shall assume any Options 
outstanding under the Plan or shall substitute similar 
Options for those outstanding under the Plan, or (ii) such 
Options shall continue in full force and effect.  In the 
event any surviving corporation refuses to assume or 
continue such Options, or to substitute similar options for 
those outstanding under the Plan, then, with respect to 
Options held by persons then performing services as 
Employees or Consultants, the time during which such Options 
may be exercised shall be accelerated and the Options 
terminated if not exercised prior to such event.
11.	AMENDMENT OF THE PLAN AND OPTIONS.
	(a)	The Board at any time, and from time to time, may 
amend the Plan.  However, except as provided in Section 10 
relating to adjustments upon changes in stock, no amendment 
shall be effective unless approved by the stockholders of 
the Company to the extent stockholder approval is necessary 
for the Plan to satisfy the requirements of Section 422 of 
the Code, Rule 16b-3 or any Nasdaq or securities exchange 
listing requirements.
	(b)	The Board may in its sole discretion submit any 
other amendment to the Plan for stockholder approval, 
including, but not limited to, amendments to the Plan 
intended to satisfy the requirements of Section 162(m) of 
the Code and the regulations promulgated thereunder 
regarding the exclusion of performance-based compensation 
from the limit on corporate deductibility of compensation 
paid to certain executive officers.
	(c)	It is expressly contemplated that the Board may 
amend the Plan in any respect the Board deems necessary or 
advisable to provide Optionees with the maximum benefits 
provided or to be provided under the provisions of the Code 
and the regulations promulgated thereunder relating to 
Incentive Stock Options and/or to bring the Plan and/or 
Incentive Stock Options granted under it into compliance 
therewith.
	(d)	Rights and obligations under any Option granted 
before amendment of the Plan shall not be impaired by any 
amendment of the Plan unless (i) the Company requests the 
consent of the person to whom the Option was granted and 
(ii) such person consents in writing.
	(e)	The Board at any time, and from time to time, may 
amend the terms of any one or more Options; provided, 
however, that the rights and obligations under any Option 
shall not be impaired by any such amendment unless (i) the 
Company requests the consent of the person to whom the 
Option was granted and (ii) such person consents in writing.
12.	TERMINATION OR SUSPENSION OF THE PLAN.
	(a)	The Board may suspend or terminate the Plan at any 
time.  Unless sooner terminated, the Plan shall terminate on 
August 26, 2005, which shall be within ten (10) years from 
the date the Plan is adopted by the Board or approved by the 
stockholders of the Company, whichever is earlier.  No 
Options may be granted under the Plan while the Plan is 
suspended or after it is terminated.
	(b)	Rights and obligations under any Option granted 
while the Plan is in effect shall not be impaired by 
suspension or termination of the Plan, except with the 
consent of the person to whom the Option was granted.
13.	EFFECTIVE DATE OF PLAN.
	The Plan shall become effective as determined by the 
Board, but no Options granted under the Plan shall be 
exercised unless and until the Plan has been approved by the 
stockholders of the Company, which approval shall be within 
twelve (12) months before or after the date the Plan is 
adopted by the Board, and, if required, an appropriate 
permit has been issued by the Commissioner of Corporations 
of the State of California.