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                                                                    EXHIBIT 10.2


                             SONOCO PRODUCTS COMPANY
                       1991 KEY EMPLOYEE STOCK OPTION PLAN

1.       PURPOSE. The Sonoco Products Company 1991 Key Employee Stock Plan (the
         "Plan") has been adopted by the Board of Directors (the "Board") to
         encourage and create significant ownership of the Common Stock ("Common
         Stock" or "Shares") of Sonoco Products Company (the "Company") by
         employees. Additional purposes of the Plan include generating a
         meaningful incentive to participants to make substantial contributions
         to the Company's future success, enhancing the Company's ability to
         attract and retain persons who will make such contributions, and
         ensuring that the Company can provide competitive compensation
         opportunities for its key personnel. By meeting these objectives, the
         Plan is intended to benefit the shareholders of the Company.

2.       TERM. The Plan shall be effective as of February 6, 1991. The
         amendments to the Plan shall be effective when approved by shareholders
         and until terminated pursuant to Section 14.7.

3.       COMMON SHARES AVAILABLE FOR ISSUANCE. Subject to adjustments
         contemplated by Section 5, 5,000,000 shares of Common Stock of the
         Company became available for issuance under the Plan on February 6,
         1991. Beginning on January 1, 1995, and ending on January 1, 2005, the
         number of shares available for issuance under the Plan shall be
         increased on each January 1 by an amount equal to 1.2% of the number of
         shares of Common Stock issued on such day. Furthermore, the Committee
         may designate for issuance under the Plan any shares of Common Stock
         that are repurchased by the Company after April 19, 1995, and before
         April 19, 2005, (the "Repurchased Shares") on the open market or in
         private transactions in which the Company paid fair market value, so
         long as the aggregate price paid for the Repurchased Shares does not
         exceed the cumulative amount received in cash by the Company after
         April 19, 1995, for the exercise of options granted under the Plan or
         the 1983 Key Employee Stock Option Plan (the "Prior Plan"). Shares
         available for issuance under the Plan, which are not issued in a given
         year, will be carried forward and continue to be available in the
         succeeding year. Any shares issued under the Plan may be either
         authorized but unissued shares, or previously-issued shares reacquired
         by the Company.

4.       SHARE USAGE. If grants made under the Plan expire or are canceled
         without the issuance of shares, the shares of stock covered by such
         grants shall remain available for issuance under the Plan. Further, any
         shares which are exchanged by a participant as full or partial payment
         to the Company of the purchase price of shares being acquired through
         the exercise of a stock option granted under the Plan or the Prior Plan
         shall be added to the aggregate number of shares available for issuance
         for grants other than Incentive Stock Option grants. In instances where
         a Stock Appreciation Right (SAR) or a stock grant is settled in cash or
         any form other than shares, then the shares covered by these
         settlements shall not be deemed issued and shall remain available for
         issuance under the Plan. The payment in shares of dividends in
         conjunction with outstanding grants shall not be counted against the
         shares available for issuance.

5.       ADJUSTMENTS AND REORGANIZATIONS. The Board may make such adjustments as
         it deems appropriate to meet the intent of the Plan in the event of
         changes that impact the Company's share price or share status, provided
         that any such actions are consistently and equitably applicable to all
         affected participants.


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                  a.       In the event of any stock dividend, stock split,
                           combination or exchange of shares, merger,
                           consolidation, spin-off or other distribution (other
                           than normal cash dividends) of Company assets to
                           shareholders, or any other change affecting shares,
                           such proportionate adjustments, if any, as the Board
                           in its discretion may deem appropriate to reflect
                           such change shall be made with respect to (i)
                           aggregate number of shares that may be issued under
                           the Plan; (ii) each outstanding grant made under the
                           Plan; (iii) the price per share for any outstanding
                           stock options, SARs and other rights granted under
                           the Plan; and the limitations on share usage and
                           allocation set forth in Section 9. In addition, any
                           shares issued or settlement of grants by the Company
                           through the assumption or substitution of outstanding
                           grants or grant commitments from an acquired company
                           or other entity shall not be counted against the
                           limitations set forth in Section 3 and Section 9.

                  b.       In the event that the Company is not the surviving
                           company of a merger, consolidation or amalgamation
                           with another company or in the event of a liquidation
                           or reorganization of the Company, and in the absence
                           of the surviving corporation's assumption of
                           outstanding grants made under the Plan, the Board may
                           provide for appropriate adjustments and settlements
                           of such grants either at the time of grant or at a
                           subsequent date.

6.       PLAN ADMINISTRATION

         6.1      THE COMMITTEE. A Committee (the "Committee") appointed by the
                  Board shall be responsible for administering the Plan. The
                  Committee shall be comprised of three or more members of the
                  Board who qualify to administer the Plan as contemplated by
                  Rule 16b-3 under the Securities Exchange Act of 1934 (the
                  "1934 Act"), or any successor rule.

         6.2      POWERS OF THE COMMITTEE. Subject only to the express
                  restrictions and limitations otherwise set forth in the Plan,
                  the Committee shall have sole, absolute and full authority and
                  power to:

                  (a)      Interpret the Plan and undertake such actions and
                           make such determinations and decisions as it deems
                           necessary and appropriate to carry out the Plan
                           intent;

                  (b)      Select individuals to receive grants;

                  (c)      Determine the amount of shares to be covered by each
                           grant;

                  (d)      Decide the type grant or grants to be made to each
                           participant and the terms and conditions applicable
                           to each such grant;

                  (e)      Award grants to individuals who are foreign nationals
                           or employed outside the United States or both, on
                           such terms and conditions (which may be different
                           than specified by the Plan) which it deems are
                           necessary to assure the viability of such grants in
                           meeting the purposes of the Plan;

                  (f)      Enter into grant agreements evidencing grants made
                           under the Plan and their respective terms and
                           conditions;

                  (g)      Establish, amend and repeal rules and regulations
                           relating to the Plan; and


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                  (h)      Amend the Plan to the extent permitted by Section
                           14.6.

         6.3      DELEGATION OF AUTHORITY. The Committee may designate persons
                  other than members of the Committee or the Board to carry out
                  its responsibilities subject to such limitations, restrictions
                  and conditions as it may prescribe, except that the Committee
                  may not delegate its authority with regard to the awarding of
                  grants to persons subject to Section 16 of the 1934 Act.
                  Further, the Committee may not delegate its authority if such
                  delegation would cause the Plan not to comply with the
                  requirements of Rule 16b-3 or any successor rule under the
                  1934 Act.

         6.4      DIVIDENDS AND DIVIDEND EQUIVALENTS. The Committee may provide
                  that grants awarded under the Plan earn dividends or dividend
                  equivalents. Such dividend equivalents may be paid currently
                  or may be credited to a participant's account. In addition,
                  dividends paid on outstanding grants or issued shares may be
                  credited to a participant's account, including additional
                  shares or share equivalents, rather than paid currently. Any
                  crediting of dividends or dividend equivalents may be subject
                  to such restrictions and conditions as the Committee may
                  establish, including reinvestment in additional shares or
                  share equivalents.

         6.5      DEFERRALS AND SETTLEMENTS. The Committee may require or permit
                  participants to elect to defer the issuance of shares or the
                  settlement of grants in cash under such rules and procedures
                  as it may establish under the Plan. It may also provide that
                  deferred settlements include the payment or crediting of
                  interest on the deferral amounts or the payment or crediting
                  of dividend equivalents on deferred settlements denominated in
                  shares. The Committee may also require or permit grants to be
                  settled in the form of other grant types.

         6.6      DOCUMENTATION OF GRANTS. Grants under the Plan shall be
                  evidenced by written agreements or such other appropriate
                  documentation as the Committee shall prescribe. The Committee
                  need not require the execution of any instrument or
                  acknowledgment of notice of a grant under the Plan, in which
                  case acceptance of such a grant by the respective participant
                  will constitute agreement to the terms of the grant.

7.       PLAN ELIGIBILITY. Any employee of the Company (including any entity
         that is directly or indirectly controlled by the Company or any entity
         in which the Company has a significant equity interest, as determined
         by the Committee) shall be eligible to be designated a participant
         under the Plan.

8.       GRANT TYPES. Awards under the Plan may consist of single, combination,
         tandem or replacement grants of the following types.

         8.1      STOCK OPTIONS. A stock option shall confer on a participant
                  the right to purchase a specified number of shares from the
                  Company subject to the terms and conditions of the stock
                  option grant. A stock option may be in the form of an
                  incentive stock option or any other option type. Any incentive
                  stock option grant shall comply with the requirements of
                  Section 422 of the Internal Revenue Code of 1986, as amended,
                  (the "Code"), and accordingly, the aggregate fair market value
                  at the time of grant of the shares covered by incentive stock
                  option grants exercisable by any one optionee in any calendar
                  year shall not exceed $100,000 (or such other limit as may be
                  required by the Code). The recipient of a stock option grant
                  shall pay for the shares at the time of exercise in cash or
                  such other form as the Committee may approve, including the
                  transfer of shares (whether actual or constructive), valued at
                  their fair market value on the date of exercise, or in a
                  combination of payment forms.


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         8.2      STOCK APPRECIATION RIGHTS (SAR). A SAR grant shall confer on a
                  participant the right to receive in shares, cash or a
                  combination of both, up to the positive difference, if any,
                  between the fair market value of a designated number of shares
                  on the date the SARs are exercised and the designated price of
                  the SARs contained in the terms and conditions of the grant.
                  Shares issued in settlement of the exercise of SARs shall be
                  valued at their fair market value on the date of the exercise
                  of the SARs.

         8.3      STOCK GRANTS. A stock grant shall confer on a participant the
                  right to receive a specified number of shares, cash equal in
                  value to a designated number of shares or a combination of
                  both, subject to the terms and conditions of the grant, which
                  may include forfeitability contingencies based on continued
                  employment with the Company or the meeting of performance
                  criteria or both. The performance criteria that may be used by
                  the Committee in awarding contingent stock grants will consist
                  of total shareholders' return, earnings growth, revenue
                  growth, and/or profitability measured by return ratios. The
                  Committee may select one criterion or multiple criteria for
                  measuring performance, and the measurement may be based on
                  absolute Company or business unit performance or based on
                  comparative performance with other companies. A stock grant
                  may be received by a participant as part of or in lieu of the
                  participant's normal compensation or as part of or in lieu of
                  a payment under another incentive compensation or employee
                  benefit plan of the Company, subject to such rules and
                  conditions as the Committee may establish for such grants.

         8.4      DEFERRED COMPENSATION STOCK OPTIONS. The Committee may, at its
                  sole discretion, require or permit that designated grants
                  under the Plan be settled in the form of deferred compensation
                  stock options. The Committee may also, at its sole discretion,
                  require or permit eligible employees to receive deferred
                  compensation stock options in lieu of a payment of normal
                  compensation or a payment under another incentive compensation
                  or employee benefit plan of the Company. The number of shares
                  to be subject to such a grant shall be the quotient (rounded
                  down to the nearest whole number) resulting from the following
                  formula:

                  Amount of Compensation to be Deferred
                  __________________________________________ =  Number of Shares

                  Fair Market Value at Time of Grant - Option Price

9.       GRANT LIMITS. Subject to adjustments contemplated by Section 5, the
         following limitations on the usage of shares of Common Stock shall be
         effective for grants made after April 19, 1995:

         9.1      STOCK OPTIONS AND SARS. Commencing with 1995, no individual
                  may receive a stock option or SAR, or combination of both, in
                  any one calendar year that covers more than 200,000 shares
                  plus unused shares carried forward for up to five years
                  commencing in 1995. The aggregate number of shares that may be
                  covered by incentive stock options granted under the Plan
                  cannot exceed 5,000,000 shares.


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         9.2      STOCK GRANTS. Commencing with 1995, no individual may receive
                  a stock grant in any one calendar year that covers more than
                  100,000 shares plus unused shares carried forward for up to
                  five years commencing in 1995. The aggregate number of shares
                  that may be covered by stock grants made in any one calendar
                  year shall not exceed 0.4% of the number of issued shares of
                  Common Stock as of the first day of such calendar year
                  commencing in 1995, plus any unused shares which were
                  available for stock grants in any prior years commencing in
                  1995.

10.      TRANSFERABILITY AND EXERCISABILITY

         10.1     TRANSFERABILITY. Any grant under the Plan will be
                  non-transferable and, accordingly, shall not be assignable,
                  alienable, salable or otherwise transferable by the
                  participant other than as provided in Section 10.2 or:

                  (a)      By will or the laws of descent and distribution;

                  (b)      Pursuant to a qualified domestic relations order, to
                           the extent permitted by the Committee, either at the
                           time of grant or subsequently; and

                  (c)      By gift or other transfer to, either (i) a trust or
                           estate in which the participant or such person's
                           spouse, or other relative has a substantial interest,
                           or (ii) the participant's spouse or other relative,
                           to the extent permitted by the Committee, either at
                           time of grant or subsequently, provided further that
                           for any such transfer by a person subject to Section
                           16 of the 1934 Act, the Committee may require the
                           shares covered by such grant to continue to be deemed
                           beneficially owned.

         10.2     THIRD PARTY EXERCISES. In the event that a participant
                  terminates employment with the Company to assume a position
                  with a governmental, charitable, educational or similar
                  non-profit institution, the Committee may subsequently
                  authorize a third party, including but not limited to a
                  "blind" trust, to act on behalf of and for the benefit of the
                  respective participant with respect to any outstanding grants
                  held by the participant subsequent to such termination of
                  employment. If permitted by the Committee, a participant may
                  designate a beneficiary or beneficiaries to exercise the
                  rights of the participant and receive any distributions under
                  the Plan upon the death of the participant.

11.      GRANT TERMS AND CONDITIONS. The Committee shall determine the
         provisions and duration of grants made under the Plan, including the
         purchase prices for all stock options, the established prices for all
         SARs, the consideration, if any, to be required from participants for
         all other grants and the conditions under which a participant will
         retain rights in the event of the participant's termination of
         employment while holding outstanding grants made under the Plan.
         However, any stock option (other than a deferred compensation grant
         made pursuant to Section 8.4) or SAR may not have an exercise or
         designated price of less than 100% of the fair market value of the
         covered shares on the date of grant, except that, in the case of a
         stock option or SAR granted retroactively in tandem with or as a
         substitution for another grant, the exercise or designated price may be
         the same as the exercise or designated price of such other grant.


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12.      TAX WITHHOLDING. The Company shall have the right to deduct from any
         settlement of a grant made under the Plan, including the delivery or
         vesting of shares, a sufficient amount to cover withholding of any
         federal, state or local taxes required by law or to take such other
         action as may be necessary to satisfy any such withholding obligations.
         The Committee may permit shares to be used to satisfy required tax
         withholding and such shares shall be valued at their fair market value
         as of the settlement date of the applicable grant.

13.      OTHER COMPANY BENEFIT AND COMPENSATION PROGRAMS. Unless otherwise
         determined by the Committee, settlements of grants received by
         participants under the Plan shall not be deemed a part of a
         participant's regular, recurring compensation for purposes of
         calculating payments or benefits from any Company benefit or severance
         program (or severance pay law of any country). The above
         notwithstanding, the Company may adopt other compensation programs,
         plans or arrangements as it deems appropriate or necessary.

14.      GENERAL. The following provisions are applicable to the Plan generally:

         14.1     FUTURE RIGHTS. No person shall have any claim or rights to be
                  awarded a grant under the Plan, and no participant shall have
                  any rights under the Plan to be retained in the employ of the
                  Company.

         14.2     FAIR MARKET VALUE. The term "fair market value" as used in the
                  Plan means the closing price of a share of Common Stock on the
                  date of the applicable transaction or such other appropriate
                  valuation method as the Committee may determine.

         14.3     NO FRACTIONAL SHARES. No fractional shares shall be issued
                  under the Plan and cash shall be paid in lieu of any
                  fractional shares in settlement of grants awarded under the
                  Plan.

         14.4     UNFUNDED PLAN. Unless otherwise determined by the Committee,
                  the Plan shall be unfunded and shall not create (or be
                  construed to create) a trust or a separate fund or funds. The
                  Plan shall not establish any fiduciary relationship between
                  the Company and any participant or other person. To the extent
                  any person holds any rights by virtue of a grant awarded under
                  the Plan, such right (unless otherwise determined by the
                  Committee) shall be no greater than the right of an unsecured
                  general creditor of the Company.

         14.5     SUCCESSORS AND ASSIGNS. The Plan shall be binding on all
                  successors and assigns of a participant, including, without
                  limitation, the estate of such participant and the executor,
                  administrator or trustee of such estate, or any receiver or
                  trustee in bankruptcy or representative of the participant's
                  creditors.

         14.6     PLAN AMENDMENT. The Committee may amend the Plan as it deems
                  necessary or appropriate to better achieve the purposes of the
                  Plan, except that no amendment without the approval of the
                  Company's shareholders shall be made which would:

                  (a)      Subject to adjustments contemplated by Section 5,
                           increase the total number of shares available for
                           issuance under Section 3 or the share limits set
                           forth in Section 9; and

                  (b)      Reduce the minimum exercise or designated price for
                           any stock options or SARs granted under the Plan.


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         14.7     PLAN TERMINATION. The Board may terminate the Plan at any
                  time. However, if so terminated, then-existing
                  previously-awarded grants shall remain outstanding and in
                  effect in accordance with their applicable terms and
                  conditions.

         14.8     GOVERNING LAW. The validity, construction and effect of the
                  Plan and any actions taken or relating to the Plan shall be
                  determined in accordance with the laws of the State of South
                  Carolina and applicable federal law.