|1998
GLOBAL STOCK OPTION PLAN


FOR
AGERE EMPLOYEES



1998 GLOBAL STOCK OPTION PLAN


Article
1. Background and Purpose


The purpose of the 1998 Global Stock Option Plan For Agere Employees is to
afford Employees of Agere Systems, Inc. (Agere) who held options
under the Lucent Technologies Inc. 1998 Global Stock Option Plan (the
Lucent Plan) at the time of the Spin-off of Agere from Lucent
Technologies Inc. (Lucent), substantially the same rights and
benefits of equity ownership in their employer as they had prior to the Spin-off
by providing those Employees with the opportunity to acquire shares
of Agere Common Stock upon exercise of those options.


Except
where the context so requires, the term Agere shall include all
present and future Subsidiaries of Agere.


Article
2. Definitions


For
the purposes of this Plan, the following words shall have the meanings ascribed
to them below:
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| |  | (a) |  | Board
| |  | --- |  | -----

| | The
Board of Directors of Agere.
| | --------------------------------

| |  | (b) |  | Code
| |  | --- |  | ----

| | The
Internal Revenue Code of 1986, as amended.
| | ----------------------------------------------

| |  | (c) |  | Committee
| |  | --- |  | ---------

| | The
Corporate Governance and Compensation Committee (or any successor committee) of the Board.
| | ----------------------------------------------------------------------------------------------

| |  | (d) |  | Common
Stock
| |  | --- |  | ------------

| | The
Class A common stock of Agere, par value $0.01 per share.
| | -------------------------------------------------------------

| |  | (e) |  | Company
Action
| |  | --- |  | --------------

| | A
force management program declared by Agere, a sale of a unit or portion of a unit, or a
transfer initiated by Agere of a Participant to a corporation, partnership, limited
liability company or other business entity in which Agere has a direct or indirect equity
interest and which does not constitute a Subsidiary or placement of the job function of a
Participant with an outsourcing contractor.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | (f) |  | Delegate
| |  | --- |  | --------

| | The
Employee Benefits Committee of Agere or any other person or committee authorized to
exercise specified authority under this Plan.
| | -------------------------------------------------------------------------------------------------------------------------------------



---

| |  | (g) |  | Disability
or Disabled
| |  | --- |  | ----------------------

| | Qualifying
for and receiving payments under a long-term disability pay plan maintained by Agere or
as required by or available under applicable local law. Any determination with respect to
these matters shall be made by the Committee or its Delegate in its sole discretion.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | (h) |  | Employee
| |  | --- |  | --------

| | Any
individual employed by Agere excluding leased employees within the meaning of Section
414(n) of the Code.
| | -------------------------------------------------------------------------------------------------------------

| |  | (i) |  | Exchange Act
| |  | --- |  | ------------

| | The
Securities Exchange Act of 1934, as amended.
| | ------------------------------------------------

| |  | (j) |  | Expiration Date
| |  | --- |  | ---------------

| | The
date specified in the Stock Option Statement relating to the corresponding Lucent option
after which the right to exercise the Option expires.
| | --------------------------------------------------------------------------------------------------------------------------------------------------

| |  | (k) |  | Reserved
| |  | --- |  | --------

| |  | (l) |  | Grant Date
| |  | --- |  | ----------

| | The
Grant Date shall be the original grant date of the corresponding option under the Lucent
Plan, as specified in the Stock Option Statement.
| | ----------------------------------------------------------------------------------------------------------------------------------------------

| |  | (m) |  | Option
| |  | --- |  | ------

| | An
option issued pursuant to the Plan in substitution for an option under the Lucent Plan.
| | ------------------------------------------------------------------------------------------

| |  | (n) |  | Option Price
| |  | --- |  | ------------

| | The
purchase price per share of Common Stock under an Option as determined in Article 6(c)
below.
| | -------------------------------------------------------------------------------------------------

| |  | (o) |  | Participant
| |  | --- |  | -----------

| | An
Employee of Agere to whom an Option is issued under the Plan.
| | ----------------------------------------------------------------

| |  | (p) |  | Plan
| |  | --- |  | ----

| |  | (q) |  | Retirement
| |  | --- |  | ----------

| | Termination
of the employment of an Employee with Agere under circumstances where: (i) the Employee
is eligible to receive a retirement benefit under a pension plan or arrangement with
Agere; (ii) the sum of the Employees years of service with Agere and attained age
at termination equals or exceeds seventy-five (75); (iii) the Employee has attained age
50 with a minimum of 15 years service; or (iv) with respect to any Participant who is a
resident of a country other than the United States and in which Agere does not have a
pension plan that defines retirement, the Participant is eligible for a social pension
from the government of that country. In addition to a Participants service with
Agere, the Committee will recognize service with Lucent (including service with other
entities that would have been recognized under the Lucent Plan) for the purpose of
determining eligibility to receive pension benefits and years of service. Any
determination with respect to matters in this definition shall be made by the Committee
or its Delegate in its sole discretion.
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|
|

| |  | (r) |  | Share
| |  | --- |  | -----

| | A
share of Common Stock.
| | ------------------------

| |  | (s) |  | Spin-off
| |  | --- |  | --------

| | The
spin-off of Agere from Lucent, effective June 1, 2002.
| | ----------------------------------------------------------

| |  | (t) |  | Stock Option Statement
| |  | --- |  | ----------------------

| | The
written statement provided to the Participant by Lucent which evidenced the grant of an
option under the Lucent Plan and specifies the terms and conditions under which such
option was granted, including the Grant Date, number of shares, Option Price, Vesting
Date(s) and Expiration Date.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | (u) |  | Subsidiary
| |  | --- |  | ----------

| | A
subsidiary corporation of Agere as defined in Section 424(f) of the Code, an
entity in which Agere directly or indirectly owns 50% or more of the voting interests or
any entity in which Agere has a significant equity interest, as determined by the Board,
the Committee or Delegate.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | (v) |  | Vesting Date
| |  | --- |  | ------------

| | With
respect to any portion of an Option, the date specified in the Stock Option Statement as
the vesting date for such portion of the corresponding option under the Lucent Plan.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Article
3.Shares Available for Option


There
shall be available for purchase under Options such number of Shares as are
subject to Options. No new options may be granted under the Plan and Shares
subject to Options which are forfeited, canceled, expired, or terminated without
the issuance of Shares shall not be available for the grant of Options.



Article 4.
Administration


The
Committee, or Delegate, shall be responsible for the administration of the Plan.
The interpretation and construction of any provision of the Plan by the
Committee over matters within its discretion, as the case may be, as well as any
factual determinations, shall be final, unless otherwise determined by the
Board. No member of the Board or the Committee shall be liable for any action or
determination made by him or her in good faith.


Article 5.
Eligibility


Employees
who, at the time of the Spin-off, held outstanding options under the Lucent
Plan, received substitute Options to purchase Shares under the Plan. No other
awards will be granted under the Plan.


The
adoption of this Plan shall not be deemed to give any Employee any right to be
granted an option to purchase Common Stock of Agere, except and to the extent
and upon such terms and conditions as may be determined by the Committee.


Article 6.
Terms and Conditions of Option


Options
granted pursuant to the Plan shall consist of nonqualified stock options within
the meaning of the Code. Each Option shall be subject to the following terms and
conditions:
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| |  | (a) |  | Stock
Option Statement
| |  | --- |  | ----------------------

| | Each
Option shall be governed by the corresponding Stock Option Statement, with references to
Lucent being deemed to be references to Agere and references to the number of Shares and
exercise price being deemed to be such amounts as reflect the conversion of the option at
the time of the Spin-off.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | (b) |  | Number
of Shares
| |  | --- |  | ----------------

| | Each
Stock Option Statement states the total number of shares of Lucent common stock to which
it pertains. That number was adjusted as a result of the Spin-off to reflect the fact
that the Option is now exercisable for Common Stock.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|
|

| |  | (c) |  | Option
Price
| |  | --- |  | ------------

| | The
exercise price per share of Agere Common Stock shall be equal to the exercise price per
share of Lucent stock under the Lucent Plans, as adjusted as a result of the Spin-off.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | (d) |  | Option
Period and Limitations on Exercise of Options
| |  | --- |  | ----------------------------------------------------

| | Unless
earlier canceled, or as otherwise provided in Article 7 or Article 9, the last day on
which an Option may be exercised is the day preceding the tenth anniversary of the Grant
Date. No Option shall be exercisable prior to the applicable Vesting Date, except as
provided in Article 7 or Article 9 below.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | (e) |  | Exercise
of Option
| |  | --- |  | ------------------

| | An
Option shall be exercised according to procedures established by Agere and communicated
to Participants.
| | -----------------------------------------------------------------------------------------------------------

|Article 7.
Termination of Employment


At
the date of a Participants termination of employment with Agere (other
than by reason of Retirement, Disability or death), (i) any portion of the
Option that is vested and unexercised may be exercised until the earlier of 90
days from the Participants termination date or the Expiration Date; and
(ii) any portion of the Option that is unvested will be canceled immediately in
full.


Notwithstanding
the foregoing or anything in the Plan to the contrary, (i) if a
Participants termination of employment is pursuant to a Company Action on
or after the Grant Date, any unvested portion of the Option will become fully
vested and be exercisable for a period of 90 days from the date of termination;
and (ii) if a Participants termination of employment is under
circumstances constituting both a Company Action and Retirement, the unvested
portion of the Option will become vested at the date of termination and,
together with any previously vested portion, will be exercisable until the
Expiration Date.


Article 8.
Retirement and Disability


A
Participant who terminates employment with Agere under circumstances
constituting Retirement or Disability shall not forfeit any outstanding Option.
The Participant may exercise each portion of any such outstanding Option no
earlier than the Vesting Date for such portion and, except as provided in
Article 9, no later than the Expiration Date specified in the Stock Option
Statement.



Article 9.
Rights in the Event of Death


The
following provisions shall apply in the event of the death of a Participant.
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| |  | (a) |  | Active
Employment, Retirement, or Disability
| |  | --- |  | --------------------------------------------

| | In
the event the Participant dies after attaining Retirement, becoming Disabled or while
actively employed by Agere, any outstanding Options shall be immediately vested and
exercisable. Any outstanding Options shall be exercisable immediately by the executors,
administrators, legatees or distributees of the Participants estate, as the case
may be, but in no event after the earlier of (1) 180 days after the death of the
Participant or (2) the Expiration Date set forth in the Stock Option Statement.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| |  | (b) |  | Termination
| |  | --- |  | -----------

| | In
the event the Participant dies within 90 days after termination of employment, any
outstanding Option held by such Participant shall, to the extent vested on the date of
termination, be exercisable immediately by the executors, administrators, legatees or
distributees of the Participants estate, as the case may be, but in no event after
the earlier of (1) 180 days after the death of the Participant or (2) the Expiration Date
set forth in the Stock Option Statement.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Article
10Rights to Continued Employment


Neither
this Plan nor any Option shall be construed as giving any person the right to be
retained in the employ of Agere. No Employee or Participant shall have any claim
to be granted any Option under the Plan or to include any Option or its value in
any form of severance or similar pay, or in any benefit plan or program which by
its terms does not specifically include the value of the Option. There is no
obligation of uniformity of treatment of Employees or Participants under the
Plan. This Plan is of limited duration and creates no ongoing obligation of
Agere to provide any future benefit of similar nature or value.



Article 11.
Nonassignability


No
Option granted under the Plan shall be assigned or transferred by the
Participant otherwise than by will or by the laws of descent and distribution,
and such Option shall be exercisable, during the Participants lifetime,
only by the Participant.


Article 12.
Effect of Change in Stock Subject to Plan


In
the event of changes in the outstanding Common Stock of Agere by reason of any
stock dividend, recapitalization, merger, consolidation, split-up, combination
or exchange, stock split, reclassification or other like change, the aggregate
number and class of shares available under the Plan, the number, class and price
of shares subject to outstanding Options and the minimum number of shares for
which the Option may be exercised shall be adjusted by the Committee as
appropriate. The determination of the Committee shall be conclusive.


Article 13.
Change in Control


In
the event of a change in control of Agere prior to the complete exercise of all
Options issued under the Plan, all outstanding Options shall become immediately
fully vested and exercisable notwithstanding any provisions of the Plan to the
contrary. Change in Control shall mean the happening of any of the
following events:
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| | (a)
An acquisition by any individual, entity or group (within the meaning of Section 13(d)(3)
or 14(d)(2) of the Exchange Act (an Entity) of beneficial ownership (within
the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either
(1) the then outstanding shares of common stock of Agere (the Outstanding Company
Common Stock) or (2) the combined voting power of the then outstanding voting
securities of Agere entitled to vote generally in the election of directors (the Outstanding
Company Voting Securities; excluding, however, the following: (i) any acquisition
directly from Agere, other than an acquisition by virtue of the exercise of a conversion
privilege unless the security being so converted was itself acquired directly from Agere,
(ii) any acquisition by Agere, (iii) any acquisition by any employee benefit plan (or
related trust) sponsored or maintained by Agere or any corporation controlled by Agere,
or (iv) any acquisition by any corporation pursuant to a transaction which complies with
clauses (1), (2) and (3) of subsection (c) of this Article 13; or
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|
|

| | (b)
A change in the composition of the Board such that the individuals who, as of the
effective date of this Plan, as set forth in Article 18 (Effective Date),
constitute the Board (such Board shall be hereinafter referred to as the Incumbent
Board) cease for any reason to constitute at least a majority of the Board; provided,
however, that for purposes of this definition, that any individual who becomes a
member of the Board subsequent to the Effective Date, whose election, or nomination for
election by Ageres stockholders, was approved by a vote of at least a majority of
those individuals who are members of the Board and who were also members of the Incumbent
Board (or deemed to be such pursuant to this proviso) shall be considered as though such
individual were a member of the Incumbent Board; and provided further, however,
that any such individual whose initial assumption of office occurs as a result of or in
connection with a solicitation subject to Rule 14a-12(c) of Regulation 14 promulgated
under the Exchange Act or other actual or threatened solicitation of proxies or consents
by or on behalf of an Entity other than the Board shall not be so considered as a member
of the Incumbent Board; or
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| | (c)
The approval by the stockholders of Agere of a merger, reorganization or consolidation or
sale or other disposition of all or substantially all of the assets of Agere (each, a
Corporate Transaction) or, if consummation of such Corporate Transaction is
subject, at the time of such approval by stockholders, to the consent of any government
or governmental agency, the obtaining of such consent (either explicitly or implicitly by
consummation); excluding however, such a Corporate Transaction pursuant to which (1) all
or substantially all of the individuals and entities who are the beneficial owners,
respectively, of the Outstanding Company Common Stock and Outstanding Company Voting
Securities immediately prior to such Corporate Transaction will beneficially own,
directly or indirectly, more than 60% of, respectively, the outstanding shares of common
stock, and the combined voting power of the then outstanding voting securities entitled
to vote generally in the election of directors, as the case may be, of the corporation
resulting from such Corporate Transaction (including, without limitation, a corporation
or other person which as a result of such transaction owns Agere or all or substantially
all of Ageres assets either directly or through one or more subsidiaries (a Parent
Company)) in substantially the same proportions as their ownership, immediately
prior to such Corporate Transaction, of the Outstanding Company Common Stock and
Outstanding Company Voting Securities, as the case may be, (2) no entity (other than
Agere, any employee benefit plan (or related trust) of Agere, such corporation resulting
from such Corporate Transaction or, if reference was made to equity ownership of any
Parent Company for purposes of determining whether clause (1) above is satisfied in
connection with the applicable Corporate Transaction, such Parent Company) will
beneficially own, directly or indirectly, 20% or more of, respectively, the outstanding
shares of common stock of the corporation resulting from such Corporate Transaction or
the combined voting power of the outstanding voting securities of such corporation
entitled to vote generally in the election of directors unless such ownership resulted
solely from ownership of securities of Agere prior to the Corporate Transaction, and (3)
individuals who were members of the Incumbent Board will immediately after the
consummation of the Corporate Transaction constitute at least a majority of the members
of the board of directors of the corporation resulting from such Corporate Transaction
(or, if reference was made to equity ownership of any Parent Company for purposes of
determining whether clause (1) above is satisfied in connection with the applicable
Corporate Transaction, of the Parent Company); or
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|
|

| | (d)
The approval of the stockholders of Agere of a complete liquidation of Agere.
| | ---------------------------------------------------------------------------------

|Article
14.Reservation of Shares of Stock


Agere,
during the term of this Plan, will at all times reserve and keep available, and
will seek or obtain from any regulatory body having jurisdiction any requisite
authority necessary to issue and to sell, the number of Shares that shall be
sufficient to satisfy the requirements of this Plan. The inability of Agere to
obtain from any regulatory body having jurisdiction the authority deemed
necessary by counsel for Agere for the lawful issuance and sale of Shares
hereunder shall relieve Agere of any liability in respect of the failure to
issue or sell Shares as to which the requisite authority has not been obtained.


Article
15.Taxes


Agere
shall have the right to condition the issuance or exercise of any Option on a
Participants payment of any applicable amounts required by a governmental
agency to be withheld from payment to the Participant or paid or deducted by
Agere in connection with an Option (withholding tax). Agere shall
also have the right to deduct any withholding tax from a Participants
other compensation or to make any other arrangements to satisfy withholding tax
obligations, including arrangements with one or more brokerage firms pursuant to
cashless exercise procedures. Agere shall further have the right to deduct from
any payment under an Option under the Plan or from a Participants other
compensation any tax or social insurance payment imposed on Agere in connection
with such Option.


Article
16.Employees Based Outside of the United States


Notwithstanding
any provision of the Plan to the contrary, in order to foster and promote
achievement of the purposes of the Plan or to comply with the provisions of laws
in other countries in which the Agere or a Subsidiary operates or has Employees,
the Committee, or its Delegate, in its sole discretion, shall have the power and
authority to (1) modify the terms and conditions of any Options issued to
Employees who are employed outside the United States, and (2) establish
subplans, modified Option exercise procedures and other terms and procedures to
the extent such actions may be necessary or advisable.



Article 17.
Amendment of Plan


The
Board may amend the Plan at any time and from time to time. The Board may, at
any time or from time to time, suspend or terminate this Plan in whole or in
part.


No
such amendment, suspension or termination of the Plan may, however, alter or impair any
Option without the written consent of the affected Participant.


Article 18.
Effective Date


The
Plan shall become effective as of June 1, 2002. The Plan shall terminate when no
Options shall remain outstanding.


Article 19.Governing Law


The
Plan, and the validity and construction of any Options granted hereunder shall
be governed by the laws of the State of Delaware without reference to principles
of conflicts of laws.
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