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                                                                   EXHIBIT 10.17



                             FORTIS INVESTMENT PLAN
                                  PLAN DOCUMENT

1.    Purpose of the Plan. This plan shall be known as the Fortis Investment
      Plan. The purpose of the Plan is to provide the benefits of an option plan
      in order to attract and retain the highest quality employees for positions
      of substantial responsibility and to provide additional incentives to
      designated officers, directors and employees of Fortis, Inc. and its
      subsidiaries and affiliates, thereby promoting the continued success of
      the Company.

2.    Definitions. As used herein, the following definition shall apply:

      (a)   "Administrator" shall mean the Board, or the person or persons
            appointed by the Board to serve under paragraph 16, below.

      (b)   "Award Date" shall mean the effective date of the Participant's
            Option Agreement, which, in the event of a Substitution, shall be
            the effective date of the new Option granted pursuant to the
            Substitution.

      (c)   "Board" shall mean the Board of Directors of Fortis, Inc.

      (d)   "Code" shall mean the Internal Revenue Code of 1986, as amended.

      (e)   "Company" shall mean Fortis, Inc. and its subsidiaries and
            affiliates.

      (f)   "Eligible Compensation" shall mean compensation that an Employee or
            Director could agree to exchange for Options under this Plan. For an
            Employee, "Eligible Compensation" shall include (i) base pay, (ii)
            short term cash incentives, (iii) amounts payable under the Fortis
            Appreciation Incentive Rights (FAIR) Plan, (iv) cash payments under
            a change in control severance agreement, (v) other severance
            payments, (vi) other cash compensation payments, (vii) amounts
            payable under the Fortis Executive Pension and Executive 401(k)
            Plan, and (viii) accrued but unused vacation pay. A Participant who
            wishes to exchange Eligible Compensation for Options under the Plan
            must elect to do so by notifying the Committee in writing no less
            than six months prior to the start of the year in which the Eligible
            Compensation may be paid to the Participant.

            Notwithstanding the foregoing, Eligible Compensation shall not
            include (x) any amounts payable as a lump sum later than the 90th
            day following the Participant's Termination of Employment; or (y)
            any amounts payable in installments following the Participant's
            Termination of Employment.

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      (g)   "Director" shall mean a member of the Board.

      (h)   "Disability" shall mean shall mean entitlement to income disability
            benefits as determined under the Company's then current long term
            disability plan.

      (i)   "Employee" shall mean 1) any employee of the Company or 2) member of
            the Board.

      (j)   "Fair Market Value" on any day of reference shall be the closing
            price of a Share on such date, unless the Administrator, in its sole
            discretion shall determine otherwise in a fair and uniform manner.

            For this purpose, the closing price of the Share on any business day
            shall be (i) if the Share is listed or admitted for trading on any
            United States national securities exchange, the last reported sale
            price of the Share on such exchange, as reported in any newspaper of
            general circulation, (ii) if the Share is not listed or admitted for
            trading on any United States national securities exchange, the
            average of the high and low sale prices of the Share for such day
            reported on The Nasdaq SmallCap Market or a comparable consolidated
            transaction reporting system, or if no sales are reported for such
            day, such average for the most recent business day within five
            business days before such day which sales are reported, or (iii) if
            neither clause (i) nor (ii) is applicable, the average between the
            lowest bid and highest asked quotations for the Share on such day as
            reported by The Nasdaq SmallCap Market or the National Quotation
            Bureau, Incorporated, if at least two securities dealers have
            inserted both bid and asked quotations for the Share on at least 5
            of the 10 preceding business days.

      (k)   "Option" shall mean an option granted pursuant to this Plan to
            purchase one or more Shares. The types of options that may be
            granted pursuant to this Plan are

            (i) Taxed Non Benefit Eligible Options. ("Taxed NBE Options"). These
            are Options that (A) have previously been included in the
            Participant's FICA wages; and (B) are not treated as compensation
            for purposes of determining other employee benefits provided by the
            Company.

            (ii) Benefit Eligible Options ("BE Options"). These are Options that
            (A) have not been included in the Participant's FICA wages, and (B)
            in the year granted, were treated as compensation for purposes of
            determining other employee benefits provided by the Company.

            (iii) Non Benefit Eligible Options ("NBE Options"). These are
            Options


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            that (A) have not been included in the Participant's FICA wages, and
            (B) are not treated as compensation for purposes of determining
            other employee benefits provided by the Company.

      (l)   "Option Agreement" means the written agreement evidencing the award
            of an Option under the Plan.

      (m)   "Participant" shall mean any Employee who receives an Option under
            the Plan, as evidenced by an Option Agreement entered into between
            such Employee and Fortis, Inc.

      (n)   "Plan" shall mean the Fortis Investment Plan, as amended from time
            to time.

      (o)   "Retirement" shall mean normal retirement as defined in the
            Company's then current tax qualified deferred benefit pension plan,
            or, if there is no such retirement plan, "Retirement" shall mean
            voluntary termination of employment after age 55 with ten or more
            years service.

      (p)   "Shares" shall mean the shares of mutual funds, shares of common or
            preferred stock of a corporation listed or reported on a national
            securities exchange or quotation system, or shares of a regulated
            investment company, as designated and amended by the Administrator
            and referenced in Appendix A. Shares may include stock or other
            equity interest or bonds in Fortis, Inc. or any company related to
            Fortis, Inc. if so permitted by the Board. Shares do not include
            units of any money market funds or other cash equivalents. Shares
            subject to purchase pursuant to any Option shall also include any
            earnings and appreciation on such shares subsequent to the Award
            Date.

            If a Participant does not select a specific share, the share subject
            to the Option shall be the share selected by the Administrator.

      (q)   "Substitution" shall mean all exchanges of shares made within a
            single day.

      (r)   "Termination of Employment" shall mean an Employee's termination of
            employment with the Company by reason of Retirement, resignation,
            discharge, death, Disability or other termination. The Administrator
            may, in its discretion, determine whether any leave or other absence
            from service constitutes a Termination of Employment for purposes of
            the Plan. In the case of a Director, "Termination of Employment"
            shall mean that the Director has ceased to serve as a member of the
            Board.



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3.    Term of Plan. The Plan shall become effective on the date it is adopted by
      the Board and shall continue in effect as amended from time to time until
      terminated pursuant to paragraph 18.

4.    Shares Subject to the Plan. The aggregate number and type of Shares
      subject to Options will be fully described in each Option Agreement.

5.    Eligibility. Employees and Directors who are designated as eligible and
      selected for inclusion in the Plan by the Administrator may receive
      Options under the Plan.

6.    Grant of Options. The Administrator shall determine the number of Shares
      to be offered from time to time pursuant to Options granted under the
      Plan. The grant of Options shall be evidenced by a written Option
      Agreement containing such terms and provisions as are approved by the
      Administrator, including, but not limited to, the following information,
      which shall be included on an Appendix to the Option Agreement: (i) the
      Award Date for the Options; (ii) the Shares subject to the Options; (iii)
      the Fair Market Value of the Shares subject to the Option; (iv) the net
      value of the Options; (v) the type of Options that are issued, i.e., Taxed
      NBE Options, BE Options, or NBE Options; and (vi) such other information
      as the Administrator deems appropriate. The Administrator shall execute an
      initial Option Agreement on behalf of the Company. From time to time, the
      Administrator or a third party designated by the Administrator shall issue
      an updated Appendix to the Option Agreement, and such updated Appendix
      shall supersede any prior Appendix to the Option Agreement.

7.    Time of Grant of Options. The date of grant of an Option under the Plan
      shall, for all purposes, be the date on which the Administrator awards the
      Option, as evidenced by an Appendix to the Option Agreement.

8.    Option Price. The exercise price for each Option shall be the greater of
      (i) twenty five percent (25%) of the Fair Market Value, as of the Award
      Date, of the Shares underlying the Option; or (ii) fifty percent (50%) of
      the Fair Market Value, as of the date the Option is exercised, of the
      Shares underlying the Option.

9.    Exercise. Except as otherwise provided in an Option Agreement, all Options
      granted under the Plan shall be vested at grant and therefore may be
      exercisable immediately.

      Options shall be exercised in the minimum amount of one thousand dollars
      ($1,000) of the Fair Market Value of Shares underlying the Options (or, if
      the Fair Market Value of the Shares underlying all outstanding Options is
      less than $1,000, the Option must be exercised in its entirety) at any
      time during the period beginning from the date of the grant as determined
      by the Option Agreement and ending on the date specified in the Option
      Agreement. The Participant will be allowed to exercise all or part of his
      Option(s) twice per calendar year, with all reasonable distribution fees
      paid by the Company. Additional distributions will


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      need the written approval of the Administrator, in its sole discretion,
      and the Participant may be required to pay all associated fees.

      If cash dividends are paid on the Shares subject to an Option, such
      dividend will be reinvested in Shares of the same kind. Earnings,
      including dividends, shall be attributed proportionally to the Shares
      subject to the Option and will be purchased when the underlying award is
      exercised. For example, if an original grant of an Option to purchase 500
      Shares (after the payment of the exercise price) generates from reinvested
      dividends 100 additional Shares on such 500 Option Shares, an exercise of
      one-fourth of the originally granted Options shall result in the purchase
      (after the payment of the exercise price) of 150 Shares in order to
      proportionally include the resulting reinvested dividends. In the event of
      a noncash distribution, stock dividend, stock split recapitalization or
      similar transaction that affects the market value of Shares subject to an
      Option, then the exercise price will be adjusted to maintain the same
      ratio of exercise price to Fair Market Value that existed prior to such
      transaction.

      Each calendar year the Company shall pay the first $250 of any transaction
      fees or charges that are associated with investing, exercising or
      substituting any Option, provided that any unused part of the $250 amount
      may not be carried over to succeeding calendar years. Any such fees or
      charges in excess of $250 per calendar year shall be charged to the
      Participant's account(s) as directed by the Administrator.

      In addition, all Options granted under the Plan may only be exercised
      subject to any other terms specified in the Option Agreement. If such
      terms conflict with the terms of this Plan, the terms of the Option
      Agreement control.

10.   Limitations on Option Disposition. Any Option granted under the Plan and
      the rights and privileges conferred therewith shall not be sold,
      transferred, encumbered, hypothecated or otherwise assigned by the
      Participant other than by will or the laws of descent and distribution.
      Options shall not be subject to, in whole or in part, the debts,
      contracts, liabilities, or torts of the Participant, nor shall they be
      subject to garnishment, attachment, execution, levy or other legal or
      equitable process.

11.   Limitations on Option Exercise and Distribution. In the event that the
      listing, registration or qualification of an Option or Shares on any
      securities exchange or under any state or federal law, or the consent of
      approval of any governmental regulatory body, or the availability of any
      exemption therefrom, is necessary as a condition of, or in connection
      with, the exercise of an Option, then the Option shall not be exercised in
      whole or in part until such listing, registration, qualification, consent
      or approval has been effected or obtained. Notwithstanding any provision
      of the Plan to the contrary, the Company shall have no obligation or
      liability to deliver any Shares under the Plan unless such delivery would
      comply


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      with all applicable laws and all applicable requirements of any securities
      exchange or similar entity.

12.   Option Financing. Upon the exercise of any Option granted under the Plan,
      the Participant may instruct the Administrator to sell or deem to sell a
      number of Shares otherwise deliverable to the Participant and attributable
      to the exercise of the Option in order to pay the exercise price of the
      Option.

13.   Withholding of Taxes. The Administrator may make such provisions and take
      such steps as it may deem necessary or appropriate for the withholding of
      any taxes which the Company is required by any law or regulation of any
      governmental authority, whether federal, state or local, domestic or
      foreign, to withhold in connection with any Option including, but not
      limited to, the withholding of the issuance of all or any portion of such
      Shares until the Participant reimburses the Company for the amount the
      Company is required to withhold with respect to such taxes, canceling any
      portion of such issuance in an amount sufficient to reimburse itself for
      the amount it is required to so withhold, or taking any other action
      reasonably required to satisfy the Company's withholding obligation.

14.   Modification of Option or Plan. At any time and from time to time, the
      Administrator may execute an instrument providing for the modification,
      extension, or renewal of any outstanding Option or the Option Plan.

15.   Substitution of Option. If a Participant has been granted an Option to
      purchase Shares under an Option Agreement, then except as limited by the
      terms of the Option Agreement, the Participant may direct that the Option
      be converted into an Option to purchase other Shares as permitted by the
      Option Agreement.

      The date of such Substitution shall result in a new Award Date for
      purposes of determining the exercise price of the grant.

      In no event shall a Participant be permitted to make Substitutions more
      often than 12 times within a calendar year.

16.   Administration of the Plan. The Administrator, in its sole discretion, is
      authorized to select the Employees and Directors who will receive Options,
      to determine when an Employee or Director shall be eligible to participate
      in the Plan, and to determine the number of Options and the number of
      Shares under each Option. The Board, or the person or persons appointed by
      the Board to serve as Administrator, shall be the Administrator of the
      Plan. The Administrator, in its sole discretion, is authorized to
      interpret the Plan, to prescribe, amend and rescind rules and regulations
      relating to the Plan and to the Options granted under the Plan, to
      determine the form and content of Options to be issued under the Plan, and
      to make such other determinations and exercise such other power and
      authority as may be necessary or advisable for the administration of the
      Plan. No


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      fee or compensation shall be paid to any person for services as the
      Administrator (but this shall not prevent the payment of salary otherwise
      payable to an employee of Fortis, Inc. for other services as a Fortis,
      Inc. employee). The Administrator in its sole discretion may delegate and
      pay compensation for services rendered relating to the ministerial duties
      of plan administration including, but not limited to, selection of
      investments available under the Plan. Any determination made by the
      Administrator pursuant to the powers set forth herein are final, binding
      and conclusive upon each Participant and upon any other person affected by
      such decision, subject to the claims procedure hereinafter set forth. The
      Administrator shall decide any question which may arise regarding the
      rights of employees, Participants and beneficiaries and the amounts of
      their respective interests, adopt such rules and to exercise such powers
      as the Administrator may deem necessary for the administration of the
      Plan, and exercise any other rights, powers or privileges granted to the
      Administrator by the terms of the Plan. The Administrator's
      interpretations and determinations under the Plan and the Option Agreement
      shall be conclusive and binding on all parties with an interest in the
      Plan. The Administrator shall maintain full and complete records of its
      decisions. Its records shall contain all relevant data pertaining to the
      Participant and his rights and duties under the Plan. The Administrator
      shall have the duty to assure Account records are maintained for all
      Participants. The Administrator shall cause the principal provisions of
      the Plan to be communicated to the Participants and a copy of the Plan and
      other documents shall be available at the principal office of the Company
      for inspection by the Participants at reasonable times determined by the
      Administrator.

17.   Continued Employment Not Presumed. Nothing in the Plan or any document
      describing it nor the grant of an Option shall give any Participant the
      right to continue in employment with the Company or affect the right of
      the Company to terminate the employment of any such person, with or
      without cause.

18.   Amendment and Termination of the Plan or Option Agreement. The Board, in
      its sole discretion, may amend, suspend or discontinue the Plan.

19.   Governing Law. The Plan shall be governed by and construed in accordance
      with the laws of the State of New York.

20.   Severability of Provisions. Should any provision of the Plan be determined
      to be invalid, illegal or unenforceable, such invalidity, illegality or
      unenforceability shall not affect the remaining provisions of the Plan,
      but shall be fully severable, and the Plan shall be construed and enforced
      as if such provision had never been inserted herein.

21.   Establishment of Trust. In its sole discretion, Fortis, Inc. (or any other
      participating employer in the Plan) may establish, in connection with the
      Plan, a trust, designed to be a grantor trust, within the meaning of
      Section 671 of the Code. Notwithstanding any other provision of the Plan,
      the assets of any such


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      trust shall remain the property of such employer and will be subject to
      the claims of its creditors in the event of its bankruptcy or insolvency.

22.   Designation of Beneficiary. A Participant, by filing the prescribed form
      with the Administrator (see Appendix B), may designate one or more
      beneficiaries and successor beneficiaries who shall be given the right to
      exercise Options in accordance with the terms of the Plan, in the event of
      the Participant's death. In the event the Participant does not file a form
      designating one or more beneficiaries, or no designated beneficiary
      survives the Participant, the Option shall be exercisable by the
      individual to whom such right passes by will or the laws or descent and
      distribution.

23.   Unsecured Promise. The obligation of the Company to deliver Shares subject
      to the Options granted under this Plan constitutes an unsecured promise of
      the Company to fulfill such obligations and any property of the Company
      that may be set aside to permit it to fulfill such obligations under the
      Plan shall, in the event of the Company's bankruptcy or insolvency, remain
      subject to the claims of the Company's general creditors until such
      Options are exercised.

24.   Intent. The Plan is not intended to be a plan described in Sections 401(a)
      or 457 of the Code. The obligation of the Company to deliver Shares
      subject to the Options granted under this Plan constitutes nothing more
      than an unsecured promise of the Company to fulfill such obligations and
      any property of the Company that may be set aside, to permit it to fulfill
      such obligations under the Plan, shall in the event of the Company's
      bankruptcy or insolvency, remain subject to the claims of the Company's
      general creditors until such Options are exercised.

********************************

      As evidence of its adoption of the Plan, Fortis, Inc. has caused this
instrument to be signed by its officer of representative duly authorized on this
17th day of March, 2003.

                                    Fortis, Inc.



                                    By: /s/ J. Kerry Clayton
                                        ____________________________
                                            J. Kerry Clayton

                                    Title: President and CEO




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APPENDIX A

SHARES AVAILABLE TO THE COMPANY FOR GRANT OR SUBSTITUTION


Description

The Hartford Fund Family (to be removed as of 1/1/04)

AIM Family of Funds

Fidelity Advisor Funds

Putnam Fund Family

Warburg Pincus Fund Family

Janus Fund Family

Vanguard Fund Family

American Century Fund Family

One Group Ultra Short Term Fund





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APPENDIX B

BENEFICIARY DESIGNATION FOR INVESTMENT PLAN

I direct that, upon my death, any amount payable to me under the Fortis
Investment Plan shall be paid to the following person(s) as my primary
beneficiary (beneficiaries):

--------------------------------------------------------------------------------
Name                                Address                        Relationship

--------------------------------------------------------------------------------
Name                                Address                        Relationship

If, upon my death, no primary beneficiary is living, such amount shall be paid
to the following person(s) as my contingent beneficiary(ies):

--------------------------------------------------------------------------------
Name                                Address                        Relationship

--------------------------------------------------------------------------------
Name                                Address                        Relationship

If I have designated more than one primary beneficiary, the amount payable shall
be equally divided among my primary beneficiaries who are living at the time of
my death unless I have specified otherwise on this form. If, upon my death,
there is no primary beneficiary living, and if I have named more than one
contingent beneficiary, the amount shall be equally divided among my contingent
beneficiaries who are living at the time of my death unless I specify otherwise
on this form.

The foregoing beneficiary designation revokes any and all prior designation(s),
and shall remain in effect until such time as I may have filed another
beneficiary designation with Fortis, Inc., bearing a more recent date.

                                    By:
---------------------------               -------------------------
Witness                                   Signature


                                          -------------------------
                                          Print Name

                                    Date:
                                          -------------------------




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