Document:

EXHIBIT 10.2

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                                                                    Exhibit 10.2

                                   TYCOM LTD.

                         FOUNDERS' SHARE OPTION PROGRAM

                                    ARTICLE 1
                               PURPOSE OF PROGRAM

         SECTION 1.01. General Purpose The purpose of this TyCom Ltd. Founders'
Share Option Program (the "Program") is to afford certain individuals who are
full-time employees of TyCom Ltd. (the "Company") or any other Company which is
a subsidiary company (wherever incorporated) as defined by Section 86 of the
Companies Act of 1981 of Bermuda (as amended) or other business unit, whether
or not incorporated, of the Company (a "Subsidiary") at or near the date that
the Company effects an initial public offering of its shares (the "IPO Date")
the opportunity to acquire a proprietary interest in the Company pursuant to an
option to purchase its common shares (the "Option") granted by the Company.

         SECTION 1.02. Option Options granted under the Program are intended to
be "non-qualified" stock options under the Internal Revenue Code of 1986, as
amended.

                                    ARTICLE 2
                            SHARES SUBJECT TO PROGRAM

         SECTION 2.01. Description of Shares The Shares to which the Program
applies are common shares of the Company, $0.25 par value (the "Shares"), which
may be either authorized and unissued Shares or, to the extent permissible
under applicable law, Shares acquired by the Company, any Subsidiary or any
other Person designated by the Company. The number of Shares to be issued or
sold pursuant to Options granted hereunder shall not exceed 800,000 Shares.

         SECTION 2.02. Restoration of Unpurchased Shares Any Shares subject to
an Option granted hereunder that, for any reason, expires or is terminated
unexercised as to such Shares may again be subject to an Option to be granted
hereunder.

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                                    ARTICLE 3
                     ADMINISTRATION; COMMITTEES; AMENDMENTS

         SECTION 3.01. Administration The Program shall be administered by the
Board of Directors of the Company (the "Board") or a committee designated by
the Board to administer the Program (the "Committee").

         SECTION 3.02. Interpretation The interpretation and construction by
the Committee or the Board of the provisions of the Program or of the Options
granted hereunder shall be final, unless, in the case of the Committee,
otherwise determined by the Board.

         SECTION 3.03. Amendments or Discontinuation The Board may make such
amendments, changes, and additions to the Program, or may discontinue and
terminate the Program, as it may deem advisable from time to time; provided,
however, that no such action shall adversely affect or impair any Options
granted under the Program prior to the date of such action.

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                                    ARTICLE 4
                PARTICIPANTS; MAXIMUM GRANT; DURATION OF PROGRAM

         SECTION 4.01. Eligibility and Participation Options shall be granted
only to persons ("Optionees") who (a) (i) at the IPO Date are full-time
non-union employees of the Company or a Subsidiary and (ii) do not receive
grants of options to purchase Shares under the Company's Long Term Incentive
Plan on the IPO Date or (b) (i) become full-time non-union employees of the
Company or a Subsidiary in the six-month period following the IPO Date and (ii)
do not receive grants of options to purchase Shares under the Company's Long
Term Incentive Plan during the six month period following the IPO Date. The
Committee or the Board shall determine the employees to be granted Options
hereunder and the number of options granted to each employee.

         SECTION 4.02. Duration of Program All Options under the Program shall
be granted within eight (8) months of the IPO Date.

                                    ARTICLE 5
                         TERMS AND CONDITIONS OF OPTIONS

         SECTION 5.01. Number of Shares Each Optionee shall be granted an
Option to purchase that number of Shares as determined by the Board or the
Committee.

         SECTION 5.02. Purchase Price For Optionees who are employees of the
Company or a Subsidiary on the IPO Date, the purchase price per Share under an
Option (the "Purchase Price") shall be not less than the price at which Shares
are offered to the public on the IPO Date ("the IPO Price"). For Optionees who
become employees of the Company or a Subsidiary after the IPO Date, the Option
Price shall be the greater of the Fair Market Value of the Shares (as defined
below) on the date of grant or the IPO Price. For purposes of this Program,
"Fair Market Value" shall mean the volume weighted average sale price of the
Shares as reported on Bloomberg on the first day of each month (or the
preceding

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business day if the first day of the month is not a business day) or, if the
volume weighted average sale price is not available, Fair Market Value shall
mean the fair market value of Shares determined by such methods or procedures
as shall be established from time to time by the Committee.

         SECTION 5.03. Date of Grant Optionees who are employed by the Company
or a Subsidiary on the IPO Date will receive a grant of Options under this
Program on the IPO Date. Those employees eligible to be Optionees in the
Program under Section 4.01(b) will be granted Options on the first day of the
first month which is coincident with or follows their date of hire.

         SECTION 5.04. Term of Option Options granted under this Program shall
expire on the tenth anniversary of the date of grant (the "Expiration Date").

         SECTION 5.05. Vesting of the Option Options granted under this Program
shall vest and be exercisable in accordance with the following schedule: no
Shares subject to the Option will vest until the date which is the first
anniversary of the date of grant; on the first anniversary of the date of
grant, 33 1/3% of the Shares subject to the Option will vest; on the second
anniversary of the date of grant, another 33 1/3% of the Shares subject to the
Option will vest; on the third anniversary of the date of grant, the remaining
33 1/3% of the Shares subject to the Option will vest. Vested Options will be
rounded to the nearest whole number.

         SECTION 5.06. Manner of Exercise An Option granted under this Program
may be exercised in whole or in part to the extent it is vested by giving
written notice of exercise in the manner specified by the Committee to the
Company specifying the number of Shares to be purchased. Payment of the
purchase price may be made by one or more of the following methods:

          (i)   In cash, by certified or official bank check or other instrument
         acceptable to the Committee; or

         (ii) By the Optionee delivering to the Company in the manner specified
         by the Committee a properly executed exercise notice together with
         irrevocable instructions to a broker to promptly deliver to the
         Company cash or a check payable and acceptable to the Company to pay
         the purchase price as so provided. The Optionee and the broker shall
         comply with such procedures and enter into such agreements of
         indemnity and other agreements as the Committee shall prescribe as a
         condition of such payment procedure; or

        (iii)   By such other methods as may be permitted by the
         Committee.

Payment instruments will be received subject to collection. The issue and
allotment of the Shares and the delivery of certificates representing Shares to
be purchased pursuant to the exercise of the Option will be contingent upon
receipt from the Optionee by the Company of the full Purchase Price for such
Shares and any required withholding taxes, and the fulfillment of any other
requirements contained in the Program or applicable provisions of law.

         SECTION 5.07. Termination of Employment Subject to the specific
provisions of Article 7 of this Program, if an Optionee ceases to be an
employee of the Company, a Subsidiary of the Company, the Parent (as defined by
Section

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8b of the Companies Act of 1981 of Bermuda (as amended)), or a Subsidiary of
the Parent, the period within which to exercise the Option shall be subject to
earlier termination as set forth below:

          (i) Termination Due to Death. If an Optionee ceases to be an employee
         due to his/her death, the Option held by the Optionee shall become
         fully vested and may be exercised by the Optionee's legally appointed
         representative for a period of twelve (12) months from the date of
         death or until the Expiration Date, if earlier.

         (ii) Termination Due to Disability. If an Optionee ceases to be an
         employee to due his Disability (as defined herein), the Option held by
         the Optionee shall become fully vested and may be exercised by the
         Optionee (or the Optionee's legally appointed representative if the
         Optionee is incapacitated) for a period of twelve (12) months from the
         date of termination or until the Expiration Date if earlier.

         For purposes of this Program, "Disability" shall mean an Optionee's
         permanent and total incapacity of engaging in any employment for his
         or her employer for physical or mental reasons. Disability shall be
         deemed to exist only when an Optionee meets the requirements for
         disability benefits under his or her employer's long-term disability
         plan or, if the employer has no such plan applicable to an Optionee,
         the requirements for disability benefits under the United States
         Social Security law (or similar law outside the United States) then in
         effect.

        (iii) Termination of Employment (other than for "Misconduct" or after a
         "Change of Control"). If an Optionee ceases to be an employee for any
         reason other than those specified in Section 5.07(i), (ii), (iv) and
         (v) (including voluntary termination and retirement), then any
         unvested portion of the Option shall expire on the date of termination
         and be of no further force and effect and any portion of the Option
         that is vested and by its terms exercisable shall be exercisable by
         such Optionee for a period of three (3) months from the date of
         termination or until the Expiration Date, if earlier.

         (iv) Termination for "Misconduct". If an Optionee ceases to be an
         employee by reason of his/her discharge by his or her employer for
         Misconduct, then any unvested portion of an Option and any vested
         Option that has not been exercised shall be forfeited by Optionee and
         expire on the date of such discharge. The Company shall have the right
         to delay Option exercises for an Optionee who is undergoing an
         investigation for Misconduct that could reasonably lead to his or her
         discharge for Misconduct. For purposes of this Program, "Misconduct"
         shall mean an action or actions, that individually or collectively,
         are, in the opinion of the Committee, which opinion shall be
         conclusive, willfully or wantonly harmful to the Company or a
         Subsidiary.

          (v) Termination of Employment due to "Change of Control". If the
         Optionee is terminated by the Company for any reason other than
         Misconduct at any time after a Change of Control, the Option held by
         the Optionee shall become fully vested and may be exercised for a
         period of twelve (12) months from the date of termination or until the
         Expiration Date, if earlier.

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     For purposes of this Article 5, transfer of employment from the Company to
     a Subsidiary, from a Subsidiary to the Company, or from one Subsidiary to
     another shall not be considered a termination of employment. Nor shall it
     be considered a termination of employment if the Optionee is placed on a
     military or sick leave or such other leave of absence which is considered
     by the Committee as continuing intact the employment relationship; in such
     a case, the employment relationship shall be continued until the later of
     the date when the leave equals ninety days or the date when an Optionee's
     right to reemployment shall no longer be guaranteed either by law or by
     contract.

         SECTION 5.08. Rights as a Shareholder No Optionee shall have any
rights as a shareholder with respect to Shares subject to an Option granted
under the Program until the date of the entry of the name of the Optionee in
the register of members of the Company as the holder of such Shares. No
adjustment shall be made for dividends or other rights for which the record
date is prior to the date of such entry.

         SECTION 5.09. Transferability The Option is not transferable otherwise
than by will or by the laws of succession, and shall be exercisable during an
Optionee's lifetime only by the Optionee or, in the case of incapacity, by the
Optionee's legally appointed representative.

                                    ARTICLE 6
                               CAPITAL ADJUSTMENTS

         SECTION 6.01. Capital Adjustments In the event it is determined that
any dividend or other distribution (whether in the form of cash, Shares, other
securities, or other property), recapitalization, share split, reverse share
split, subdivision, consolidation or reduction of capital, reorganization,
merger, scheme of arrangement, split-up, spin-off or combination involving the
Company or repurchase or exchange of Shares or other rights to purchase Shares
or other securities of the Company, or other similar corporate transaction or
event affects the Shares such that any adjustment is determined by the
Committee to be appropriate in order to prevent dilution or enlargement of the
benefits or potential benefits intended to be made available under the Program,
then the Committee shall, in such manner as it may deem equitable, adjust any
or all of (i) the number and type of Shares (or other securities or property)
with respect to which Options may be granted, (ii) the number and type of
Shares (or other securities or property subject to outstanding Options), and
(iii) the grant or exercise price with respect to any Option or, if deemed
appropriate, make provision for a cash payment to the holder of an outstanding
Option; provided that the number of Shares subject to any Option denominated in
Shares shall always be a whole number. Any determination made by either the
Committee or the Board under this Article 6 shall be final, binding and
conclusive upon each Optionee.

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                                    ARTICLE 7
                                CHANGE OF CONTROL

         SECTION 7.01. Treatment of Options Upon a Change of Control Except as
otherwise determined by the Committee at the time of grant of an Option, in the
event of a Change of Control, each outstanding Option shall be assumed or an
equivalent Option or right shall be substituted by the successor corporation or
a Parent or Subsidiary of the successor corporation. In the event that the
successor corporation refuses to assume or substitute for the Option at the
time of the Change of Control, all Options granted under this Plan will become
fully vested and exercisable. If outstanding Options are assumed or substituted
upon a Change of Control and the Optionee is terminated other than for
Misconduct by the successor corporation at any time after a Change of Control,
all Options held by such Optionee shall fully vest and be immediately
exercisable as of the date of such termination. If Options become fully vested
and exercisable upon a Change of Control and the Shares of the Company are no
longer traded on a recognized national or international securities market or
exchange, Optionees who hold outstanding Options will be entitled to receive a
cash payment equal to the amount such Optionee would have received had such
Optionee exercised and sold the Shares underlying the Option on the last
practicable date prior to the Change of Control.

         SECTION 7.02. Definition For purposes of this Program, a "Change of
Control" shall mean the occurrence of any of the following events:

          (i) any "person" or "group" (as defined under Sections 13(d) and
         14(d) of the Securities Exchange Act of 1934 (the "Exchange Act")) is
         or becomes the direct or indirect "beneficial owner" (as defined in
         Rules 13d-3 and 13d-5 under the Exchange Act), of securities
         representing 50% or more of the combined voting power of the Company's
         then outstanding voting securities other than in connection with a
         merger, amalgamation, scheme of arrangement or other combination
         pursuant to which the shareholders of the Company immediately prior to
         such event beneficially own 50% or more of the voting rights
         exercisable generally of any such person which is an entity;

         (ii) such time as the Continuing Directors (as defined below) cease
         for any reason, other than death, incapacity or retirement of a
         Director, to constitute a majority of the Board (or, if applicable,
         the Board of Directors of a successor corporation to the Company),
         where the term "Continuing Director" means at any date a member of the
         Board who (A) was a member of the Board on the IPO Date or (B) was
         nominated or elected subsequent to such date by at least a majority of
         the Directors who were Continuing Directors at the time of such
         nomination or election or whose election to the Board was recommended
         or endorsed by at least a majority of the Directors who were
         Continuing Directors at the time of such nomination or election;
         provided, however, that there shall be excluded from clause (B) any
         individual whose election to the Board occurred as a result of a
         meeting of the Company requisitioned pursuant to Section 74 of the
         Companies Act 1981 of Bermuda or otherwise as a result of action taken
         by or on behalf of a person other than the Board;

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        (iii) any "person" or "group" (other than an employee benefit plan or
         plans maintained by the Company or its Affiliate) comes to possess,
         directly or indirectly, the legal right to direct the management and
         policies of the Company, whether through the ownership of securities,
         by contract or otherwise (other than solely by virtue of membership on
         the Board or any committee thereof); or

         (iv) a merger, amalgamation, scheme of arrangement or other
         combination of the Company with or into another person or any
         analogous or similar transaction or event occurs as a result of which
         the voting rights exercisable at general meetings of the Company in
         respect of the shares of the Company in issue immediately prior to the
         relevant event no longer represent a majority of all the voting rights
         normally exercisable at general meetings of the Company (or, if the
         Company is acquired by another entity in connection with such event,
         of such entity) in respect of the shares of the Company (or, if the
         Company is acquired by another entity in connection with such event,
         of the securities of such entity) in issue immediately after such
         event;

provided, however, that the Offering and any subsequent offering or series of
offerings of the Shares of the Company on an established securities market or
exchange or any distribution of Shares by the Parent, whether by dividend,
spinoff or otherwise, shall not be considered a "Change in Control."

                                    ARTICLE 8
                                     GENERAL

         SECTION 8.01. Right of Company to Terminate Employment Relationship
Nothing contained in the Program shall confer upon any Optionee any right to be
continued as an employee of the Company or a Subsidiary, or interfere in any
way with the right of his/her employer to terminate such relationship for any
reason whatsoever, with or without cause, at any time.

         SECTION 8.02. Trading Policy Restrictions Option exercises (and the
Shares acquired thereby) shall be subject to such Company
trading-policy-related restrictions, terms and conditions as may be established
by the Committee, or in accordance with policies set by the Committee, from
time to time.

         SECTION 8.03. Certain Limitations The award of an Option does not
entitle the Optionee to any benefit other than that granted under the Plan; any
benefits granted under the Plan are not part of the Optionee's ordinary salary,
and shall not be considered as part of such salary in the event of severance,
redundancy or resignation; and the benefits granted under the Plan are entirely
at the grace and discretion of the Company and its Subsidiaries and that the
Company retains the right to amend or terminate the Plan at any time at its
sole discretion and without notice.

         SECTION 8.04. Notices Notices under the Plan or an Option shall be
mailed or delivered to the Company at its principal place of business and shall
be mailed or delivered to the Optionee at the address on file with the Company
or, in either case, at such other address as one party may subsequently furnish
to the other party in writing.

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         SECTION 8.05. No Obligation to Exercise The granting of an Option
hereunder shall impose no obligation upon an Optionee to exercise such Option.

         SECTION 8.06. Effectiveness of Program The Program shall become
effective upon its adoption by the Board subject to approval of the Program by
the shareholders of the Company.

         SECTION 8.07. Tax Requirements The exercise or surrender of any Option
under this Program shall constitute an Optionee's full and complete consent to
whatever action the Committee or the Board elects to satisfy the applicable tax
withholding requirements, if any, which the Committee or the Board in its
discretion deems applicable to such exercise.

         SECTION 8.08. Interpretations and Adjustments To the extent permitted
by applicable law, an interpretation of the Program and a decision on any
matter within the Committee's or the Board's discretion made in good faith is
binding on all persons.

         SECTION 8.09. Governing Law The Program and any and all Options
granted thereunder shall be governed by, and construed and enforced in
accordance with, the laws of Bermuda; except that any references to the laws of
the United States shall be interpreted in accordance with relevant United
States law. The Committee may amend the terms of the Program and any Options
granted thereunder to comply with the laws of Bermuda or the laws of any other
applicable jurisdiction.

                                        8EXHIBIT 10.1

                    TYCOM LTD. EMPLOYEE SHARE PURCHASE PLAN

                                 Plan Document

                                    ARTICLE
                                    PURPOSE

     The TyCom Employee Share Purchase Plan (the "Plan") is created for the
purpose of encouraging share ownership by officers and employees of TyCom Ltd.
and its subsidiaries (the "Company") so that they may share in the growth of
the Company by acquiring or increasing their proprietary interest in the
Company.

                                    ARTICLE
                           ADMINISTRATION OF THE PLAN

     The Plan shall be administered by a committee appointed by the Board of
Directors of the Company (the "Committee"). The Board of Directors shall
determine the number of members of the Committee and, from time to time, may
add or remove members from the Committee. The Committee may select one of its
members as Chairperson and may hold meetings at such times and places as it may
determine. Acts by a majority of the Committee, or acts approved in writing by
a majority of the Committee, shall be the valid acts of the Committee.

     The interpretation and construction by the Committee of any provision of
the Plan shall be final unless otherwise determined by the Board of Directors.
The Committee may adopt, from time to time, such rules and regulations as it
deems appropriate for carrying out the Plan. No member of the Board of
Directors or the Committee shall be liable for any action or determination made
in good faith with respect to the Plan.

     In the event the Board of Directors fails to appoint or refrains from
appointing a Committee, the Board of Directors shall have the power and
authority to administer the Plan. In such event, the term "Committee" wherever
used herein shall be deemed to mean the Board of Directors.

                                    ARTICLE
                               ELIGIBLE EMPLOYEES

     The Company will, from time to time, determine which of its employees
(including employees of its subsidiaries and divisions) will be eligible to
participate in the Plan. All officers who are employees of the Company will be
eligible to participate in the Plan.

     Notwithstanding the foregoing, any employee who sells Shares purchased
under the Plan within three months of the date of purchase shall be precluded
from participating in the Plan for the next twelve months.

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                                    ARTICLE
                             SHARES TO BE PURCHASED

     The shares subject to purchase under the Plan are 2,500,000 shares
(subject to adjustment in the event of share splits, share dividends,
recapitalization, or similar adjustment in the Company's common shares) of the
common shares, U.S. $.25 par value, of the Company (the "Shares"). Shares will
be purchased on the open market.

                                    ARTICLE
                               PAYROLL DEDUCTIONS

     Eligible employees, upon entering the Plan, shall authorize payroll
deductions to be made for the purchase of Shares. The maximum deduction shall
not exceed an employee's base salary during the payroll period, or commission
in the case of an employee who receives commission and no base salary,
(exclusive of overtime and net of withholding and other deductions) or such
other amount as the Committee may from time to time determine. The employee may
authorize increases or decreases in the amount of payroll deductions by
notifying the Company in the manner specified by the Committee. Such increases
or decreases will be effective as of the next available payroll period. The
Company will accumulate and hold for the employee's account the amounts
deducted from his/her pay. No interest shall be paid on such amounts.

                                    ARTICLE
                             EMPLOYER CONTRIBUTION

     The Company will match a part of the employee contribution by contributing
to the Plan an additional percentage of the employee's payroll deduction. The
Committee, from time to time, may increase or decrease the percentage of the
Company's contribution to the employee's payroll deduction if the interests of
the Company so require. The matching contributions hereunder are not intended
to be an entitlement or part of the regular compensation of any eligible
employee. The Company will pay all commissions relating to the purchase of
Shares under the Plan, and, except as provided herein, the Company will pay all
administrative costs associated with the implementation and operation of the
Plan.

                                    ARTICLE
                      AUTHORIZATION FOR ENTERING THE PLAN

     An eligible employee may enter the Plan by completing, signing, and
delivering to the Company an authorization form, as designated by the
Committee, which will have been provided to the employee by the Company. After
delivering such authorization form, the employee will become a participant in
the Plan as of the next practicable payroll period. Unless an employee
authorizes changes to his/her payroll deductions in accordance with Article 5
or withdraws from the Plan, his/her deductions under the latest authorization
on file with the Company shall continue from one payroll period to the
succeeding payroll period as long as the Plan remains in effect.

<PAGE>

                                    ARTICLE
                               PURCHASE OF SHARES

     All Shares purchased under the Plan shall be purchased on the open market
by a broker designated from time to time by the Committee. On a monthly basis,
as soon as practicable following the last day of each month, the Company shall
remit the total of the employee and Company contributions for the preceding
month to the designated broker for the purchase of the Shares. The designated
broker will then execute the purchase orders on account of each individual
participant and allocate Shares (or fractions thereof) to each participant's
individual account. In the event the purchase of the Shares takes place over a
number of days and at different prices, then each participant's allocation
shall be adjusted on the basis of the average price per share over such period.

                                    ARTICLE
                             DISTRIBUTION OF SHARES

     The Shares purchased under the Plan shall be held by the designated broker
or its nominee. Participating employees shall receive quarterly statements
which will evidence all activity in the accounts that have been established on
their behalf. Such statements will be issued by the designated broker. In the
event a participating employee wishes to hold certificates in his/her own name
or transfer Shares held by such employee to another broker, the employee must
instruct the designated broker independently and bear the costs associated with
the issuance of such certificates including, if any, a reasonable fee to the
designated broker. Certificates for fractional Shares will not be issued.
Fractional Shares shall be liquidated on a cash basis only in lieu of the
issuance of certificates for such fractional Shares upon the employee's
withdrawal.

                                    ARTICLE
                        AUTOMATIC DIVIDEND REINVESTMENT

     Any dividends paid to participating employees for Shares purchased under
the Plan and held by the broker shall be automatically reinvested in the Shares
of the Company on the date of the next purchase of Shares under the Plan.

                                    ARTICLE
                    SALE OF SHARES PURCHASED UNDER THE PLAN

     Subject to such rules as the Committee may prescribe, each participant may
sell at any time all or any portion of the Shares acquired under the Plan and
held by the designated broker by notifying the designated broker, who will
execute the sale on behalf of the employee. The employee shall pay the broker's
commission and any other expenses incurred with regard to the sale of the
Shares. All such sales of the Shares will be subject to compliance with any
applicable domestic or international securities, tax, or other laws. Each
participant assumes the risk of any fluctuations in the market price of the
shares.

<PAGE>

                                    ARTICLE
                            WITHDRAWAL FROM THE PLAN

     A participating employee may stop contributions to the Plan at any time by
delivering a notice, as specified by the Committee, to the Company. Such a
termination of contributions will be effective as of the next available pay
period. If the employee desires to withdraw from the Plan, the employee must
contact the designated broker directly to (a) execute a sale of the Shares held
on the Participant's behalf, (b) issue a certificate for Shares to the employee
or (c) transfer such Shares to another broker. The proceeds from any sale
thereof, minus the commission and other expenses on such sale, shall be
delivered by the broker directly to the employee.

                                    ARTICLE
                           NO TRANSFER OR ASSIGNMENT

     An employee's rights to purchase Shares under the Plan through payroll
deduction are his/hers alone and may not be transferred or assigned to, or
availed of, by any other person.

                                    ARTICLE
                         TERMINATION OF EMPLOYEE RIGHTS

     All of the employee's rights to make contributions under the Plan will
terminate when he/she ceases to be an employee due to retirement, resignation,
death, termination, or any other reason. A notice to cease contributions in
relation to termination of employment will be deemed to have been received from
an employee on the day his/her employment ceases, and all payroll deductions
not transferred to the designated broker will be refunded. If an employee's
payroll deductions are interrupted by any legal process, a notice to cease
contributions will be deemed as having been received on the day the
interruption occurs.

                                    ARTICLE
                     TERMINATION AND AMENDMENT TO THE PLAN

     The Plan may be terminated at any time by the Company's Board of Directors
if the interests of the Company so require. Upon such termination or any other
termination of the Plan, all payroll deductions not used to purchase Shares
will be refunded. The Board of Directors also reserves the right to amend the
Plan from time to time in any respect.

                                    ARTICLE
                                 LOCAL TAX LAWS

     If the provisions of the Plan contradict local tax laws, the local tax
laws shall prevail.

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