EXHIBIT 10(d)

     FIRST NATIONAL BANK OF OMAHA
SENIOR MANAGEMENT STOCK OPTION PLAN

SECTION 1. ESTABLISHMENT AND PURPOSE

     1.1 Establishment. As of the Effective Date First National Bank of Omaha
("Company") hereby establishes, for the benefit of certain Participants, a plan
which shall be known as the First National Bank of Omaha Senior Management Stock
Option Plan (the "Plan"). The Plan is intended to be an individual account plan,
which is intended to be exempt from Parts 2 through 4 of Title I of ERISA. The
Plan is an unfunded plan maintained primarily for the purpose of providing
deferred compensation for a select group of management or highly compensated
employees. All provisions of the Plan shall be construed accordingly.

     1.2 Purpose. The future success of the Company and its Affiliates, who may
adopt the Plan, depends on its ability to attract, retain and motivate
executives and other key employees. This Plan provides a long-term incentive for
these employees to increase the value of the Company's stock.

     To help the Company and its Affiliates attract, retain and motivate
executives and other key employees, the Company has established the Plan. Under
the Plan, the Company or its Affiliates who adopt the Plan (the "Participating
Company") awards Participants with Options. The Plan is designed to facilitate
Participants' acquisitions of retirement and survivor benefits.

SECTION 2. REFERENCES, CONSTRUCTION AND DEFINITIONS

     Unless otherwise indicated, all references to sections and subsections
shall be to this Plan document. The Plan and all rights thereunder shall be
construed and enforced in accordance with ERISA and, to the extent that state
law is applicable, the laws of the State of Nebraska. The titles and captions
preceding sections and subsections of this Plan document have been inserted
solely as a matter of convenience and in no way define or limit the scope or
intent of any provision. When the context so requires, the singular includes the
plural. Whenever used herein and capitalized, the following terms shall have the
respective meanings indicated unless the context plainly requires otherwise.

     2.1 Account means, with respect to a Participant, the account maintained
showing a Participant's individual interest under this Plan.

     2.2 Administrative Committee means the Retirement Plan Administrative
Committee and is the entity responsible for administering the Plan as provided
for in Section 7 of this Plan

     2.3 Affiliate means any company affiliated with the Company under
applicable law and any other company designated as an Affiliate by the Company
for purposes of this Plan.

     2.4 Beneficiary means the person, including natural person or persons,
trusts for the benefit of such person or persons, or charitable institutions
under Code Section 501(c)(3), designated by a Participant pursuant to Section 8
to become the Optionholder of specified Options owned by the Participant upon
the death of such Participant.

     2.5 Business Day means any day on which First National Bank of Omaha and
the New York Stock Exchange are open for business.

     2.6 Code means the Internal Revenue Code of 1986, as now in effect or as
hereafter amended. All citations to sections of the Code are to such sections as
they are in effect as of the effective date and as they may from time to time be
amended or renumbered.

     2.7 Company means First National Bank of Omaha and any successor thereto.

     2.8 Company Stock means shares of common stock, par value $5.00 per share,
issued by First National of Nebraska, Inc. or any successor securities.

     2.9 Effective Date means December 31, 2000.

     2.10 Employee means an individual who is a common law employee of the
Participating Company.

     2.11 ERISA means the Employee Retirement Income Security Act of 1974, as
now in effect or as hereafter amended. All citations to sections of ERISA are to
such sections as they are in effect as of the effective date and as they may
from time to time be amended or renumbered.

     2.12 Executive Committee means the Executive Committee of the Board of
Directors of the Company.

     2.13 Exercise means, with respect to an Option, to buy the Underlying
Shares by the filing of an Exercise Election Form and by tendering the Exercise
Price in accordance with procedures set by the Administrative Committee.

     2.14 Exercise Date means the date the Optionholder tenders a valid Exercise
Election which is approved by the Administrative Committee.

     2.15 Exercise Election means the filing by an Optionholder of a written
Exercise Election Form in substantially the same form as Exhibit E attached
hereto.

     2.16 Exercise Period means, with respect to an Option, the period, as set
forth in the Option Certificate, beginning with the Grant Date of the Option and
ending 15 years following a Participant's Normal Retirement during which the
Optionholder can exercise the Option, to the extent Vested and subject to
provisions set forth in Section 5. With respect to a terminated Participant, the
Exercise Period shall end 15 years following the date on which the terminated
Participant would have reached Normal Retirement.

     2.17 Exercise Price means, with respect to an Option the greater of (i) the
Indexed Exercise Price and (ii) the Minimum Exercise Price.

     2.18 Forfeitures means, with respect to a Participant who incurs a
Termination of Employment, the amount of the Participant's Options that is not
vested and as a result forfeited by the Participant. Such Forfeitures shall
become the property of the Company.

     2.19 Grant Date means the date on which an Option under this Plan is
granted.

     2.20 Indexed Exercise Price means, with respect to an Option as of any
date, 50% of the Market Value of the Underlying Shares at Grant Date adjusted
thereafter at a rate equal to the Underlying Share Return of the Option.

     2.21 Intrinsic Value means, with respect to an Option as of any date, the
excess, if any, of the Market Value of the Underlying Shares of the Option over
the Option's Exercise Price.

     2.22 Market Value shall be determined by the Executive Committee. If shares
of Company Stock are traded in the over-the-counter market, the Executive
Committee shall rely on the average sale price for the last 30 trading days
occurring prior to the valuation date, as reported by a recognized market maker
(currently Kirkpatrick Pettis); provided that if less than 400 shares of Company
Stock are traded within such period, the period shall be extended to include
such number of days prior to the valuation date so that a total of at least 400
shares have been traded. If shares of Company Stock are traded on a national
exchange, "Market Value" shall be the average closing sale price for the 30
trading days occurring prior to the valuation date. If the sale price is not
available for shares of Company Stock as described above, "Market Value" shall
be the price reasonably determined by the Executive Committee in the good faith
exercise of its discretion.

     2.23 Minimum Exercise Price means not less than 25% of the Market Value of
the Underlying Shares at Grant Date.

     2.24 Normal Retirement means the earlier of the date upon which the
Participant attains age 65 or the date of the Participant's actual retirement
from the Company or its subsidiaries in accordance with the Company policies
which define Normal Retirement or any contractually determined normal retirement
date.

     2.25 OPT Plan means the First National Bank of Omaha Senior Management
Option Plan as it may be amended from time to time.

     2.26 Option means the rights the Company grants to a Participant on the
Option's Grant Date to purchase specified Underlying Shares at a specified price
before the expiration of the Exercise Period. Each Option grant is to be
evidenced by an Option Certificate. Bonus Deferral Options are the Options
granted to Participants who defer a portion of their Bonus Payment Awards. The
Bonus Payment Awards are the portion of the Company's long-term

incentive compensation paid to executives, including Participants, based on the
financial performance of the Company. Performance Award Options are the Options
granted by the Company to certain Participants as determined by the Executive
Committee as set forth in 3.2(a).

     2.27 Option Account means the account maintained with respect to each
Option pursuant to Section 6.1 to keep track of the Underlying Shares of the
Option.

     2.28 Option Certificate means the certificate issued by the Participating
Company to a Participant to evidence the grant of an Option, in substantially
the form attached hereto as Exhibit A. The Option Certificate shall provide the
information set forth in Section 3.2(c) for each and every Option granted to a
Participant.

     2.29 Option Expiration Time means the date, as set forth in the Option
Certificate, beyond which no Exercise shall be honored.

     2.30 Optionholder means, with respect to an Option, the Person who is the
beneficial owner of the Option and has the right to exercise the Option.

     2.31 Participant means, as of any date, any Employee who has received one
or more Options and at least one of such Options remains exercisable, including
Employees who are retired on or after the Effective Date of this Plan and
Employees who have assigned their shares under Section 3.3(b).

     2.32 Participating Company means the Company or an Affiliate which, by
action of its board of directors or equivalent governing body and with the
written consent of the Company, has adopted the Plan; provided that the Company
may, subject to the foregoing proviso, waive the requirement that such board of
directors or equivalent governing body effect such adoption. By its adoption of
or participation in the Plan, a Participating Company shall be deemed to appoint
the Company its exclusive agent to exercise on its behalf all of the power and
authority conferred by the Plan upon the Company and accept the delegation to
the Executive Committee of all the power and authority conferred upon it by the
Plan. The authority of the Company to act as such agent shall continue until the
Plan is terminated as to the Participating Company. The term "Participating
Company" shall be construed as if the Plan were solely the Plan of such
Participating Company, unless the context plainly requires otherwise.

     2.33 Plan means this First National Bank of Omaha Senior Management Stock
Option Plan as it may be amended from time to time hereafter.

     2.34 Plan Year means the calendar year; provided, however, that the first
Plan Year shall be the period commencing on the Effective Date of the Plan and
ending on December 31 of the year of the Effective Date of the Plan.

     2.35 Retirement means a Participant's Normal Retirement as defined in
Section 2.24. The term "Retire" means the act of taking Retirement.

     2.36 Termination of Employment means a termination of employment with the
Participating Company as determined by the Executive Committee in accordance
with reasonable standards and policies adopted by the Executive Committee by
reason of resignation, discharge, death, disability or any other termination.

     2.37 Underlying Shares means, with respect to an Option, the shares of
Company Stock on which the Option is granted.

     2.38 Underlying Share Return means the rate of growth or decline of the
Market Value of the Underlying Shares. The Underlying Share Return shall
include, without limitation, growth or decline of the Market Value attributable
to unrealized appreciation or depreciation and additional Underlying Shares
obtained through the reinvestment of dividends or other distributions
attributable to the Underlying Shares.

     2.39 Vested means, with respect to an Option or a portion thereof, that the
Participant has acquired a nonforfeitable right to exercise the Option or the
vested portion thereof subject to Exercise provisions in Section 5. The Vesting
period will be outlined in the Option Certificate delivered to the Participant.

SECTION 3. ELIGIBILITY, PARTICIPATION AND OPTION GRANTS

     3.1 Eligibility. The Executive Committee shall designate those Employees
eligible to become a Participant in the Plan; provided, however, unless the
Company is exempt from ERISA, each such Employee designated by the Executive
Committee shall be a member of the Participating Company's "select group of
management or highly compensated employees", as defined in Sections 201(2),
301(a)(3) and 401(a) of ERISA, as amended.

     3.2 Grants.

     (a)  Performance Award Options. Each Plan Year, the Executive Committee
shall establish a method to allocate the Incentive Pool for that Plan Year to
Participants. The Incentive Pool is the award made to a select group of
Employees whose individual contributions have materially assisted the Company in
the achievement of its financial and corporate goals. A Participant who is not
employed as of December 31 of the Plan Year shall not receive an allocation of
the Incentive Pool for that Plan Year, unless the Executive Committee determines
otherwise in its sole and absolute discretion; provided, however, that no
portion of the Incentive Pool may be used for Options under this Plan unless the
Participant is employed as of such December 31. Eligible Participants may elect
to allocate all or a portion of his share of the Incentive Pool under this Plan
and the remaining portion, if any, under the OPT Plan by filing a Plan Election
with the Administrative Committee (in substantially the form attached hereto as
Exhibit D). A separate account shall be maintained in this Plan for each
Participant which shows his portion of the Incentive Pool allocated under this
Plan. Such account shall be the Performance Award Account. As of each December
31, the Executive Committee shall allocate the Incentive Pool in conformity with
the established methodology to each eligible Participant. The Company shall
grant Performance Award Options under this Plan such that the Intrinsic Value of
such Options at the Grant Date will be equal to the dollar value of the
Performance Award Account of a Participant. The Grant Date of a Performance
Award Option under this Plan shall be the date upon which the Incentive Pool is
allocated to a Participant as determined by the Executive Committee.

     (b)  Bonus Deferral Options. The Executive Committee shall determine for
each Participant Bonus Awards. A Bonus Award is a payment of cash compensation
determined as of the last day of the Plan Year and paid in the following Plan
Year as incentive pay to the Participant under compensation plans approved by
the Executive Committee. Such Bonus Award shall be payable not later than
January 31 of the year following the Plan Year in which it was earned. Each
eligible Participant who receives a Bonus Award shall be granted the opportunity
to make an election prior to the end of the Plan Year in which the Bonus Award
is determined to exchange all or a portion of his Bonus Award for a grant of
Options under this Plan. Such elections shall be made by filing an Election Form
with the Administrative Committee (in substantially the form attached hereto as
Exhibit C.)

     (c)  Rollover Options. Prior to the Effective Date, Participants shall have
the opportunity to elect Options based on amounts transferred to this Plan from
the First National of Nebraska, Inc. Senior Management Long Term Incentive Plan.
Such election shall be made by filing a Rollover Election Form with the
Administrative Committee (in substantially the form attached hereto as Exhibit
F).

     (d)  Option Certificates. The Administrative Committee shall deliver an
Option Certificate (in substantially the form attached hereto as Exhibit A) to
each Participant who receives a grant of Options pursuant to paragraphs (a),
(b), (c) and (e) of this Section 3.2. The Option Certificate shall specify the
Options Grant Date, the number of Options granted, the vesting schedule (if any)
applicable to such Options and the expiration date of such Options. The Option
Certificate shall also specify any restrictions upon the exercise of any vested
Options. Additionally, the Option Certificate may specify any additional terms
not set forth in this Plan applicable to the Options granted. The Administrative
Committee shall be responsible for assuring the accuracy of information set
forth on the Option Certificate.

     (e)  Board Approval. Each grant of Options elected or determined under this
Plan shall be submitted to the Board of Directors of the Company for approval or
disapproval prior to award of the grant. A member of the Board of Directors
shall not vote with respect to any grant of Options made to him or her under
this Plan.

     3.3 Nonalienation.

     (a)  Subject to subsection (b) of this Section 3.3, no Option, interest,
expectancy, benefit, payment, claim or right of any Participant or Optionholder
under the Plan shall be (a) subject in any manner to any claims of any creditor
of the Participant or Optionholder, (b) subject to the debts, contracts,
liabilities or torts of the Participant or Optionholder or (c) subject to
alienation by anticipation, sale, transfer, assignment, bankruptcy, pledge,
attachment, charge or encumbrance of any kind. If any Person shall attempt to
take any action contrary to this Section, such action shall be

null and void and of no effect, and the Administrative Committee and the
Participating Company shall disregard such action and shall not in any manner be
bound thereby and shall suffer no liability on account of its disregard thereof.
If the Participant or Optionholder, or any other beneficiary hereunder shall
become bankrupt or attempt to anticipate, alienate, sell, assign, pledge,
encumber, or charge any right hereunder, then such right or benefit shall, in
the discretion of the Administrative Committee, cease and terminate, and in such
event, the Administrative Committee may hold or apply the same or any part
thereof for the benefit of the Participant or Optionholder or the spouse,
children, or other dependents of the Participant or Optionholder, or any of
them, in such manner and in such amounts and proportions as the Administrative
Committee may deem proper.

     (b) Notwithstanding subsection (a) of this Section 3.3, a Participant may
at any time prior to death assign an Option to the Participant's spouse,
children or a trust for the benefit of the Participant, the Participant's spouse
or children. The Participant may also assign an Option to a tax-exempt entity as
defined in Code Section 501(c)(3). Notwithstanding the foregoing, such an
assignment shall be permitted only if (i) the Participant is 100% Vested in the
Option and (ii) the Participant receives no consideration for the assignment.
Any such assignment shall be evidenced by an appropriate written document
executed by the Participant and a copy delivered to the Administrative Committee
in advance of the effective date of the assignment. In the event of such an
assignment, the assignee shall become the Optionholder of the Option and shall
be entitled to all the rights of the Participant with respect to the assigned
Option (except that the assignee may not make an assignment under this Section
3.3(b)), and such Option shall continue to be subject to all of the terms,
conditions and restrictions applicable to the Option, as set forth in the Plan;
provided, however, that the Participant shall remain a Participant in this Plan
as long as at least one share remains exercisable. If an assignment is made
under this Section 3.3(b), the assignee is subject to Section 3.3(a).

     (c) Neither a Participant nor an Optionholder of a Participant may assign,
sell, pledge or otherwise transfer an Option within six months of the Grant Date
of the Option or assign, sell, pledge or otherwise transfer any shares of
Company Stock acquired upon the exercise of an Option granted under this Plan
within six months of the Grant Date of the Option.

SECTION 4. VESTING OF OPTIONS

     4.1 Performance Award Options. For each Performance Award Option granted
after the Effective Date of the Plan, a Participant will be vested in his
Performance Award Option as follows: A Participant shall become 35% vested on
the December 31st following the Plan Year in which the Performance Award Option
was granted. An additional 10% vesting will be awarded on each of the five
December 31st thereafter, and the Participant will be 100% vested in the
Performance Award Option on the seventh December 31st following the grant of the
Performance Award Option. A Participant must be employed by the Company or a
Participating Company on the last day of such Plan Year to receive a vesting
increment for that Plan Year. Notwithstanding the above, a Participant will be
100% vested in his Performance Award Option if he terminates employment after
attaining age 60 and completing five years of service. A year of service is
defined as a calendar year of service with the Company or a Participating
Company where the Participant is employed on the last day of the Plan Year. A
Participant will be 100% Vested in his Performance Award Option if, while
employed by the Company or a Participating Company, he attains age 65, dies or
becomes Totally and Permanently Disabled, regardless of his years of service. A
Participant shall be Totally and Permanently Disabled for purposes of this Plan
if, in the sole and absolute discretion of the Administrative Committee, the
Participant is unable to perform his or her usual and customary employment with
the Company or a Participating Company as a result of a physical or mental
condition of the Participant due to injury or illness.

     4.2 Rollover Options. For Rollover Options granted based on amounts
transferred to this Plan under Section 3.2(c), the Options will be vested in
accordance with the vesting schedule in effect under the First National of
Nebraska, Inc. Senior Management Long Term Incentive Plan and shall be set forth
on Exhibit F.

     4.3 Bonus Deferral Options. Bonus Deferral Options shall be 100% vested
immediately on the Grant Date.

SECTION 5. EXERCISE OF OPTIONS

     5.1 Exercisability. Subject to restrictions in this Section and to vesting
requirements in Section 5 of this Plan, on any Business Day, the Optionholder
may file an Exercise Election (substantially in the form of Exhibit E) with the
Administrative Committee to exercise an Option.

  (a) A Participant who is currently employed by the Company or a Participating
Company or the Optionholder of a Participant currently employed by the Company
or a Participating Company may

  Exercise up to 10% of his Vested Performance Award Options during any Plan
Year except that no Exercise of Performance Award Options shall be permitted if,
as of the Exercise Date, the Intrinsic Value of the Participant's Performance
Award Option Exercises to date, calculated from the Effective Date of this Plan,
equals or exceeds 20% of the total Intrinsic Value of all the Participant's
Performance Award Option Accounts under the Plan. For purposes of this
subsection 5.1(a) of the Plan, amounts held in this Plan shall be combined with
amounts, if any, in the Participant's account in the OPT Plan.           (b)   A
Participant who terminates service before Retirement or the Optionholder of the
terminated Participant shall be entitled to Exercise his Vested Performance
Award Options, subject to Section 6.1(a), during the Exercise Period.          
(c)   A Participant who Retires or the Optionholder of such Retired Participant
shall be entitled to exercise his Performance Award Options during the Exercise
Period.           (d)   A Participant may Exercise Bonus Deferral Options on any
Business Day during the Exercise Period, subject to procedures and timing set
forth in Section 6.3 of this Plan. In no event shall an Option be eligible for
Exercise in a manner not permitted by the Option Certificate.

     5.2 Exercise Price. The Exercise Price of the Options granted under Section
3.2 shall be noted on the Option Certificate. The initial Exercise Price will be
50% of the Market Value of the Underlying Shares at Grant Date adjusted
thereafter at a rate equal to the Underlying Share Return of the Option.
Notwithstanding the foregoing, the Exercise Price shall never be less than 25%
of the Market Value of the Underlying Shares at Grant Date.

     5.3 Procedures and Timing. To Exercise an Option, the Participant or the
Optionholder of such Participant must file with the Administrative Committee a
properly completed Exercise Election duly executed by the Optionholder. Within
seven (7) Business Days of receipt of such Exercise Election, the Participating
Company shall discharge the Participating Company's obligations with respect to
the Option upon payment of the Exercise Price. If the Exercise Election form is
not properly completed, as determined by the Administrative Committee, it shall
be promptly returned to the Participant or Optionholder with written notice of
deficiencies.

     5.4 Withholding. Whenever payment is made pursuant to the exercise of an
Option, all tax withholding shall be made either by means of tax withholding or
payment from the Optionholder to the Participating Company of an amount equal to
the withholding taxes due to be paid on behalf of the Participant by the
Participating Company. The Participating Company may also withhold such
reasonable fees as the Administrative Committee may establish from time to time.

     5.5 Partial Exercises. The Optionholder may elect to Exercise less than all
of his Vested Options in accordance with Section 5.1.

     5.6 Payments to Beneficiary. If a Participant or Optionholder entitled to a
benefit under this Plan dies before payment of the benefit is made, then payment
of the benefit shall be made to such Participant's or Optionholder's Beneficiary
as designated pursuant to Section 8.1 of this Plan.

SECTION 6. ACCOUNTS

     6.1 Option Accounts. The Administrative Committee shall keep or cause to be
kept a separate Participant account for each Participant or Optionholder and a
separate Option Account with respect to each Option. As of each Business Day,
each Option Account shall be adjusted to reflect any transfers of shares,
exercises, forfeitures, reinvestments, or other Option activity. The Option
Account shall reflect the current Market Value of the Option Account. Such
Accounts shall be maintained under procedures adopted by the Administrative
Committee.

SECTION 7. ADMINISTRATION OF THE PLAN

     7.1 Powers and Duties of the Executive Committee. The Executive Committee
shall have general responsibility for the administration of the Plan (including
but not limited to complying with reporting and disclosure requirements, and
establishing and maintaining Plan records). In the exercise of its sole and
absolute discretion, the Executive Committee shall interpret the Plan's
provisions and determine the eligibility of individuals for benefits. The
Executive Committee may delegate to the Administrative Committee those duties
and responsibilities it determines to be best executed by the Administrative
Committee.

     7.2 Agents. The Executive Committee or Administrative Committee may engage
such legal counsel, certified public accountants and other advisers and service
providers, who may be advisers or service providers for the Participating
Company or an Affiliate, and make use of such agents and clerical or other
personnel, as it shall require or may deem advisable for purposes of the Plan.
The Executive Committee or Administrative Committee may rely upon the written
opinion of any legal counsel or accountants engaged by the Executive Committee
or Administrative Committee, and may delegate to any such agent or to any
sub-committee or member of the Executive Committee or Administrative Committee
its authority to perform any act hereunder, including, without limitation, those
matters involving the exercise of discretion, provided that such delegation
shall be subject to revocation at any time at the discretion of the Executive
Committee or Administrative Committee.

     7.3 Structure of Administrative Committee. No member of the Administrative
Committee shall be entitled to act on or decide any matter relating solely to
such member or any of such member's rights or benefits under the Plan. In the
event the Administrative Committee is unable to act in any matter by reason of
the foregoing restriction, the Executive Committee shall act on such matter.

     7.4 Adoption of Procedures by Administrative Committee. The Administrative
Committee shall establish its own procedures, adopt rules for efficient
operation and the time and place for its meetings, and provide for the keeping
of minutes of all meetings.

     7.5 Instructions for Payments. All requests of or directions to the
Participating Company for payment or disbursement shall be signed by a member of
the Administrative Committee or such other person or persons as the
Administrative Committee may from time to time designate in writing. This person
shall cause to be kept full and accurate accounts of payments and disbursements
under the Plan.

     7.6 Claims for Benefits. All claims for benefits under the Plan shall be
submitted in writing to the Administrative Committee. Within a reasonable period
of time the Administrative Committee shall decide the claim by majority vote in
the exercise of its sole and absolute discretion. Written notice of the decision
on each such claim shall be furnished within 90 days after receipt of the claim;
provided that, if special circumstances require an extension of time for
processing the claim, an additional 90 days from the end of the initial period
shall be allowed for processing the claim, in which event the claimant shall be
furnished with a written notice of the extension prior to the termination of the
initial 90-day period indicating the special circumstance requiring an
extension. If the claim is wholly or partially denied, such written notice shall
set forth an explanation of the specific findings and conclusions on which such
denial is based. A claimant may review all pertinent documents and may request a
review by the Administrative Committee of such a decision denying the claim.
Such a request shall be made in writing and filed with the Administrative
Committee within 60 days after delivery to said claimant of written notice of
said decision. Such written request for review shall contain all additional
information which the claimant wishes the Administrative Committee to consider.
The Administrative Committee may hold any hearing or conduct any independent
investigation which it deems necessary to render its decision, and the decision
on review shall be made as soon as possible after the Administrative Committee's
receipt of the request for review. Written notice of the decision on review
shall be furnished to the claimant within 60 days after receipt by the
Administrative Committee of a request for review, unless special circumstances
require an extension of time for processing, in which event an additional 60
days shall be allowed for review and the claimant shall be so notified in
writing. Written notice of the decision on review shall include specific reasons
for such decision. For all purposes under the Plan, such decisions on claims
(where no review is requested) and decisions on review (where review is
requested) shall be final, binding and conclusive on all parties.

     7.7 Hold Harmless. To the maximum extent permitted by law, no member of the
Administrative Committee shall be personally liable by reason of any contract or
other instrument executed by such member or on such member's behalf in such
member's capacity as a member of the Executive Committee or Administrative
Committee nor for any mistake of judgment made in good faith, and the
Participating Company shall indemnify and hold harmless, directly from its own
assets (including the proceeds of any insurance policy the premiums of which are
paid from the Company's own assets), each member of the Executive Committee or
Administrative Committee and each other officer, employee, or director of the
Participating Company or an Affiliate to whom any duty or power relating to the
administration or interpretation of the Plan against any cost or expense
(including counsel fees) or liability (including any sum paid in settlement of a
claim with the approval of the Participating Company) arising out of any act or
omission to act in connection with the Plan unless arising out of such person's
own fraud or bad faith.

SECTION 8. DESIGNATION OF BENEFICIARIES

     8.1 Beneficiary Designation. Every Participant and every Optionholder shall
file with the Administrative Committee a written designation (in substantially
the form attached hereto as Exhibit B) of one or more persons as the Beneficiary
who shall be entitled to become the Optionholder of Options held by the
Participant upon the Participant's death. A Participant or Optionholder may from
time to time revoke or change such Beneficiary designation without the consent
of any prior Beneficiary by filing a new designation with the Administrative
Committee. The last such designation received by the Administrative Committee
shall be controlling; provided, however, that no designation, or change or
revocation thereof, shall be effective unless received by the Administrative
Committee prior to the Participant's death, and in no event shall it be
effective as of any date prior to such receipt. All decisions of the
Administrative Committee concerning the effectiveness of any Beneficiary
designation and the identity of any Beneficiary shall be final. Notwithstanding
the foregoing, the Beneficiary of an Optionholder shall Exercise all Options
under this Plan by the due date for filing the final tax return of the deceased
Optionholder, provided however, such three year term shall not extend the
Exercise Period set forth in the Option Certificate.

SECTION 9. AMENDMENT OR TERMINATION OF THE PLAN

     9.1 Right to Amend or Terminate Plan. The Company reserves the right at any
time to amend or terminate the Plan, in whole or in part, and for any reason and
without the consent of any Participating Company, Participant or Beneficiary.
Each Participating Company by its participation in the Plan shall be deemed to
have delegated this authority to the Company.

     The Administrative Committee may adopt any ministerial and nonsubstantive
amendment which may be necessary or appropriate to facilitate the
administration, management and interpretation of the Plan, provided the
amendment does not materially affect the currently estimated cost to the
Participating Companies of maintaining the Plan. Each Participating Company by
its participation in the Plan shall be deemed to have delegated this authority
to the Administrative Committee.

     In no event shall an amendment or termination modify, reduce or otherwise
affect the Participating Company's obligations under the Plan, as such
obligations are defined under the provisions of the Plan existing immediately
before such amendment or termination.

     In the event the Company determines, in good faith, that some or all of the
benefits under this Plan may be subject to taxation, the Plan shall be amended
to continue the deferred nature of such benefits and to avoid the imposition of
current taxation on the Participants.

     9.2 Notice. Notice of any amendment or termination of the Plan shall be
given by the Administrative Committee to all Participating Companies.

SECTION 10. GENERAL PROVISIONS AND LIMITATIONS

     10.1 No Right to Continued Employment. Nothing contained in the Plan shall
give any Employee the right to be retained in the employment of the
Participating Company or an Affiliate or affect the right of any such employer
to dismiss any Employee. The adoption and maintenance of the Plan shall not
constitute a contract between any Participating Company and Employee or
consideration for, or an inducement to or condition of, the employment of any
Employee.

     10.2 Required Information. Each Participant and Optionholder shall file
with the Administrative Committee such pertinent information concerning himself
or herself, such Participant's Beneficiary, or such other person as the
Administrative Committee may reasonably specify, and no Participant,
Beneficiary, or other person shall have any rights or be entitled to any
benefits under the Plan unless such information is filed by or with respect to
the Participant.

     10.3 No Trust or Funding Created. The obligations of the Participating
Company to make payments hereunder shall constitute a liability of the
Participating Company to a Participant or Beneficiary, as the case may be. Such
payments shall be made from the general funds of the Participating Company, and
the Participating Company shall not be required to establish or maintain any
special or separate fund, or purchase or acquire life insurance on a
Participant's life, or otherwise to segregate assets to assure that such payment
shall be made, and neither a Participant nor a Beneficiary shall have any
interest in any particular asset of the Participating Company by reason of its
obligations hereunder. Nothing contained in the Plan shall create or be
construed as creating a trust of any kind or

any other fiduciary relationship between the Participating Company and a
Participant or any other person. The rights and claims of a Participant or a
Beneficiary to a benefit provided hereunder shall have no greater or higher
status than the rights and claims of any other general, unsecured creditor of
the Participating Company; provided, however, this section does not prohibit the
establishment by the Company of a grantor trust, substantially similar to the
Internal Revenue Service's model trust as described in Revenue Procedure 92-64,
to enable the Company to hold assets which may in the Company's discretion be
used to meet the obligations of the Plan.

     10.4 Binding Effect. Obligations incurred by the Participating Company
pursuant to this Plan shall be binding upon and inure to the benefit of the
Participating Company, its successors and assigns, and the Participant and the
Participant's Beneficiary.

     10.5 Merger or Consolidation. In the event of a merger or a consolidation
by the Company with another corporation, or the acquisition of substantially all
of the assets or outstanding stock of the Company by another corporation, then
and in such event the obligations and responsibilities of the Company under this
Plan shall be assumed by any such successor or acquiring corporation, and all of
the rights, privileges and benefits of the Participants and Beneficiaries
hereunder shall continue.

     10.6 Option Cancellation. Each Optionholder has the right, without consent
of the Participating Company, to surrender any Option for cancellation. Upon
such surrender, the Optionholder shall receive no value in exchange and shall
release and discharge the Participating Company from any and all obligations
under the Option surrendered.

     10.7 Entire Plan. The Plan document and the Exhibits hereto and the
appropriate Option Certificates, and any written amendments thereto, contain all
the terms and provisions of the Plan and shall constitute the entire Plan, any
other alleged terms or provisions being of no effect.

EXHIBIT A
OPTION CERTIFICATE

The Participating Company hereby certifies that it has granted to the
Participant, under the First National Bank of Omaha Senior Management Stock
Option Plan (the "Plan"), the Option described herein.

Option No.:                                                                     
Participant:   Name                                   
                                                                               
    Address                                   
                                                                               
              Social Security No.                                 
                                                                  Age
                                                                           
                                      Number of Options and Vesting, if any,
applicable to Options:   Grant Date:                                      
                               Grant Date Market Value of Underlying Shares: $
                                                        Exercise Price: As of
the Exercise Date, the greater of (A) the Indexed Exercise Price and (B) the
Minimum Exercise Price.   Capitalized terms shall have the meanings the Plan
ascribes to them.   Issued by First National of Nebraska, Inc. this _______day
of _________________, 200___.       By:                                      
                                                                            
                                                                            
                              

EXHIBIT B
BENEFICIARY DESIGNATION

To:
  Administrative Committee of the First National Bank of Omaha Senior Management
Stock Option Plan (the "Plan")

 
From:
  Name                                                                    

  Address                                                               

  Social Security No.                                           

                I, a Participant in the Plan, hereby name the following person
or persons, entity or entities (herein called "Designated Beneficiary(ies)") to
receive ownership of Options issued under the Plan and that I own upon my death
(herein called "Survivor Options").        
Name and Relationship

Address
Social Security No.
   
                                                                    
                    
1.
 

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2.
 

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3.
 

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4.
 

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                 If my Survivor Options, if any, are to be paid to more than one
Designated Beneficiary, I understand that such Survivor Options shall be divided
equally between or among such Designated Beneficiaries.      
                 If any Designated Beneficiary(ies) named above is (are) not in
existence at my death, then I name the following Contingent Designated
Beneficiary(ies) to receive the Survivor Options that such Designated
Beneficiary(ies) would have received.            
Name and Relationship
Address
Social Security No.
             Contingent Beneficiary to Designated Beneficiary No. _____.        
     

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             Contingent Beneficiary to Designated Beneficiary No. _____.        
     

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                   Contingent Beneficiary to Designated Beneficiary No. _____.  
           

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       Contingent Beneficiary to Designated Beneficiary No. _____.           

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                        I understand that if a Designated Beneficiary dies
before I do and there is no Contingent Designated Beneficiary named to take such
Designated Beneficiary's share, then the Survivor Option will be paid to my
Surviving Spouse, if any, and if not to my estate.               I understand
that this Beneficiary Designation Form shall remain in effect until revoked by
me in writing or until superseded by my execution and delivery of a substitute
Beneficiary Designation Form. I understand that no such revocation or substitute
Beneficiary Designation Form will be effective until it is actually received by
the Administrative Committee.               I understand that Survivor Options
have federal and state tax consequences and that such consequences may depend on
the identity of the beneficiary of such payments (for example, whether the
beneficiary is my spouse); and I acknowledge that I have been advised to consult
an independent, professional tax advisor before completing this Beneficiary
Designation Form.    

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    Participant's Signature       Date    

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EXHIBIT C
BONUS DEFERRAL ELECTION FORM

To: Administrative Committee of the First National Bank of Omaha
Senior Management Stock Option Plan (the "Plan")   From:
Name    ______________________________________________________________________________________________________________
     
Address _____________________________________________________________________________________________________________
 
            _____________________________________________________________________________________________________________
 
            _____________________________________________________________________________________________________________
      Social Security No.
_____________________________________________________________________________________________________
      CHECK AND COMPLETE ONLY ONE BELOW   [_] Election for Plan Year
_______________________                                                      
 Pursuant to the terms of the Plan, I hereby elect to forgo the receipt of the
following amounts of my Bonus Award which I earn during   the _______ Plan Year
and which, but for this Bonus Deferral Election, would be paid to me on
________________________.     ________ percent of Bonus Award or
$__________________     FUND ALLOCATION    
                                           I understand that the Plan allows me
to make a Fund Allocation Election. I understand that to make a Fund Allocation
Election, I must complete a separate Fund Allocation Election form and file it
with the Executive Committee or its designee.         BENEFICIARY DESIGNATION  
     I understand that the Plan allows me to make a Beneficiary Designation. I
understand that to make a Beneficiary Designation, I must complete a separate
Beneficiary Designation form and file it with the Administrative Committee or
its designee.     OPTIONS   I understand that the Participating Company will
grant Options to me under the Plan.       RELIANCE ON OWN ADVISORS         I
affirm that in making this Bonus Deferral Election, I have relied on my own tax
and financial advisors and not on the Participating Company, any of its
employees, agents or representatives.     INCORPORATION OF PLAN   The Plan is
incorporated herein by reference and shall govern the rights and obligations
hereunder.      
___________________________________________________   Date________________________________
      Participant's Signature               Accepted by the Administrative
Committee.           ___________________________________________________
  Date________________________________       Authorized Signature

     EXHIBIT D
PLAN ELECTION

To: Administrative Committee of the First National Bank of Omaha
Senior Management Stock Option Plan (the "Plan")   From:   Name      

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          Social Security No.        

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            I, a Participant in the Plan, hereby request that ____% of my
portion of the Incentive Pool be available for the issuance of Performance Award
Options under this Plan. I understand that all remaining amounts, if any, of my
share of the Incentive Pool shall be available for Performance Award Options
under the OPT Plan.                  I understand that this election is subject
to the terms of the Plan, and that the Plan's provisions are incorporated herein
by reference.          

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  Participant's Signature       Accepted by the Administrative Committee.      

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  Participant's Signature

     EXHIBIT E
EXERCISE ELECTION

To: Administrative Committee of the First National Bank of Omaha Senior
Management Stock Option Plan
(the "Plan")   From: Name
____________________________________________________________________________________
      Address
__________________________________________________________________________________
                                                                                
                                                                               
                                                                                
                                                                               
        Social Security No.
__________________________________________________________________________      
    I, an Optionholder under the Plan, hereby elect to exercise my Options as
follows:   (check and complete one)       [_]  All of my Options       [_]  The
following Options:
________________________________________________________________________        
  I understand that this Exercise Election is subject to the Plan provisions and
Administrative Committee approval, and is subject to tax withholding.          
________________________________________ Date __________________   Participant's
Signature             _______________Date Received by Administrative Committee  
    Approval:         ___________________________________________ Date
___________________   Authorized Administrative Committee Signature

EXHIBIT F
ROLLOVER ELECTION FORM - PRIOR PLAN WAIVER

To: Administrative Committee of the First National Bank of Omaha
Senior Management Stock Option Plan (the "Plan")   From: Name
______________________________________________________________       Address
____________________________________________________________         
________________________________________________________________         
________________________________________________________________       Social
Security No. ____________________________________________________    

     I, a Participant in the First National of Nebraska, Inc. Senior Management
Long Term Incentive Plan (the "Prior Plan"), hereby elect to terminate my
participation in the Prior Plan, to cancel my benefits under the Prior Plan, and
to receive Options under the Plan as designated on the attached Election Between
Plans form. I understand that any and all rights that I may have had under the
Prior Plan shall be forfeited and that this waiver is irrevocable.

     I understand that the Intrinsic Value of the Options granted to me under
the Plan shall be equal to the value of my account balance under the Prior Plan
as of the December 31, 2000 effective date of the Plan.

  __________________________________ Date __________________   Participant
Signature           Accepted by the Administrative Committee:        
__________________________________ Date __________________