Document:

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                                                                Exhibit 10.2.6.1

                                                                   (BIOVEX LOGO)

                                                                    2 April 2004

Dr. Tony Mills
42 Albion Road
Chalfont St Giles
Bucks
HP8 4EN

Dear Tony,

Further to the remuneration committee meeting on the 31st March at which your
remuneration was reviewed I am writing to comfirm that the following bonus award
and revisions to your remuneration have been agreed.

The Committee has agreed to increase your base salary of L90.000 by
L5,500 to L95,500. These changes will be effective as from 1st April 2003.

The Committee further agreed to award you a bonus of L7,500 (8.4%).

In addition to these adjustments the remuneration committee also agreed that in
future your maximum performance related bonus would increase to 20% of your
base salary and that the company's contribution to your pension fund will
increase from 7.5% to 10%.

Yours sincerely,

/s/ Dr. Gareth Beynon
-------------------------------------
DR. GARETH BEYNON
CHIEF EXECUTIVE

c.c. Remuneration Committee

              BioVex Ltd, 70 Milton Park, Abingdon, Oxon, OX14 4RX
 T: +44 (0)1235 441 900 F: +44 (0)1235 441 901 info@biovex.com www.biovex.com

<PAGE>

                                                                   (BIOVEX LOGO)

Dr. Tony Mills
42 Albion Road
Chalfont St Giles
Bucks
HP8 4EN

18 October 2004

Dear Tony,

I am writing to confirm the following revision to your Contract of Employment.

Your notice period as per Clauses 14.1 and 14.2 of your Contract of Employment
has been extended from six months to 12 months.

Please would you countersign the copy of this letter to acknowledge this
revision.

Yours sincerely,

/s/ Dr. Gareth Beynon
-------------------------------------
DR. GARETH BEYNON
CHIEF EXECUTIVE OFFICER

/s/ Dr. Tony Mills
-------------------------------------
Dr. Tony Mills

              BioVex Ltd, 70 Milton Park, Abingdon, Oxon, OX14 4RX
  T: +44 (0)1235 441 900 F: +44 (0)1235 441 901 info@biovex.com www.biovex.com<PAGE>

                                                                     EXHIBIT 4.4

                              IONA TECHNOLOGIES PLC

                            2006 SHARE INCENTIVE PLAN

SECTION 1. GENERAL PURPOSE OF THE PLAN; DEFINITIONS

     The name of the plan is the IONA Technologies PLC 2006 Share Incentive Plan
(the "Plan"). The purpose of the Plan is to encourage and enable the officers,
employees, Non-Employee Directors and other key persons (including consultants
and prospective employees) of IONA Technologies PLC (the "Company") and its
Subsidiaries upon whose judgment, initiative and efforts the Company largely
depends for the successful conduct of its business to acquire a proprietary
interest in the Company. It is anticipated that providing such persons with a
direct stake in the Company's welfare will assure a closer identification of
their interests with those of the Company and its shareholders, thereby
stimulating their efforts on the Company's behalf and strengthening their desire
to remain with the Company.

     The following terms shall be defined as set forth below:

     "Act" means the U.S. Securities Act of 1933, as amended, and the rules and
regulations thereunder.

     "Administrator" is defined in Section 2(a).

     "Award" or "Awards," except where referring to a particular category of
grant under the Plan, shall include Incentive Share Options, Non-Qualified Share
Options, Share Appreciation Rights, Phantom Share Units, Restricted Share Awards
and Unrestricted Share Awards.

     "Board" means the Board of Directors of the Company.

     "Code" means the U.S. Internal Revenue Code of 1986, as amended, and any
successor Code, and related rules, regulations and interpretations.

     "Committee" means the compensation committee of the Board or a similar
committee performing the functions of the compensation committee and which is
comprised of not less than two Non-Employee Directors who are independent.

     "Covered Employee" means an employee who is a "Covered Employee" within the
meaning of Section 162(m) of the Code.

     "Effective Date" means the date on which the Plan is approved by
shareholders as set forth in Section 18.

     "Exchange Act" means the U.S. Securities Exchange Act of 1934, as amended,
and the rules and regulations thereunder.

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     "Fair Market Value" of a Share on any given date means the fair market
value of a Share determined in good faith by the Administrator; provided,
however, that if the Shares are admitted to quotation on the National
Association of Securities Dealers Automated Quotation System ("NASDAQ"), NASDAQ
National Market System or a national recognised securities exchange, the
determination shall be made by reference to market quotations on such system or
exchange (and when there are quotations on more than one system or exchange the
reference shall be to quotations on the system or exchange determined by the
Administrator to be the primary system or exchange). If there are no market
quotations for such date, the determination shall be made by reference to the
last date preceding such date for which there are market quotations.

     "Incentive Share Option" means any Share Option designated and qualified as
an "incentive stock option" as defined in Section 422 of the Code.

     "Non-Employee Director" means a member of the Board who is not also an
employee of the Company or any Subsidiary.

     "Non-Qualified Share Option" means any Share Option that is not an
Incentive Share Option.

     "Option" or "Share Option" means any option to subscribe for or purchase
Shares granted pursuant to Section 5.

     "Performance Cycle" means one or more periods of time, which may be of
varying and overlapping durations, as the Administrator may select, over which
the attainment of one or more performance criteria will be measured for the
purpose of determining a grantee's right to and the payment of a Restricted
Share Award or Phantom Share Unit.

     "Phantom Share Unit" means an Award granted pursuant to Section 8.

     "Restricted Share Award" means an Award granted pursuant to Section 7.

     "Section 409A" means Section 409A of the Code and the regulations and other
guidance promulgated thereunder.

     "Share" or "Shares" means the Ordinary Shares, par value E0.0025 per
share, of the Company, subject to adjustments pursuant to Section 3.

     "Share Appreciation Right" means an Award granted pursuant to Section 6.

     "Subsidiary" means any corporation or other entity (other than the Company)
in which the Company has a controlling interest, either directly or indirectly.

     "Ten Percent Owner" means an employee who owns or is deemed to own (by
reason of the attribution rules of Section 424(d) of the Code) more than ten
percent (10%) of the combined voting power of all classes of shares of the
Company or any parent or subsidiary corporation.

     "Unrestricted Share Award" means any Award granted pursuant to Section 9.

                                       2

<PAGE>

SECTION 2. ADMINISTRATION OF PLAN; ADMINISTRATOR AUTHORITY TO SELECT GRANTEES
     AND DETERMINE AWARDS

     (a) Committee. The Plan shall be administered by either the Board or the
Committee (the "Administrator").

     (b) Powers of Administrator. The Administrator shall have the power and
authority to grant Awards consistent with the terms of the Plan, including the
power and authority:

          (i) to select the individuals to whom Awards may from time to time be
granted;

          (ii) to determine the time or times of grant, and the extent, if any,
of Incentive Share Options, Non-Qualified Share Options, Share Appreciation
Rights, Restricted Share Awards, Phantom Share Units and Unrestricted Share
Awards, or any combination of the foregoing, granted to any one or more
grantees;

          (iii) to determine the number of Shares to be covered by any Award;

          (iv) to determine and modify from time to time the terms and
conditions, including restrictions, not inconsistent with the terms of the Plan,
of any Award, which terms and conditions may differ among individual Awards and
grantees, and to approve the form of written instruments evidencing the Awards;

          (v) to accelerate the exercisability or vesting of all or any portion
of any Award;

          (vi) subject to the provisions of Section 5(a)(ii), to extend at any
time the period in which Share Options may be exercised; and

          (vii) at any time to adopt, alter and repeal such rules, guidelines
and practices for administration of the Plan and for its own acts and
proceedings as it shall deem advisable; to interpret the terms and provisions of
the Plan and any Award (including related written instruments); to make all
determinations it deems advisable for the administration of the Plan; to decide
all disputes arising in connection with the Plan; and to otherwise supervise the
administration of the Plan.

     All decisions and interpretations of the Administrator shall be binding on
all persons, including the Company and Plan grantees.

     (c) Delegation of Authority to Grant Awards. The Administrator, in its
discretion, may delegate to any executive officer of the Company all or part of
the Administrator's authority and duties with respect to the granting of Awards,
to individuals who are not subject to the reporting and other provisions of
Section 16 of the Exchange Act or Covered Employees. Any such delegation by the
Administrator shall include a limitation as to the amount of Awards that may be
granted during the period of the delegation and shall contain guidelines as to
the determination of the exercise price of any Share Option or Share
Appreciation Right, the conversion ratio or price of other Awards and the
vesting criteria. The Administrator may

                                       3

<PAGE>

revoke or amend the terms of a delegation at any time but such action shall not
invalidate any prior actions of the Administrator's delegate or delegates that
were consistent with the terms of the Plan.

     (d) Indemnification. Neither the Board nor the Committee, nor any member of
either or any delegate thereof, shall be liable for any act, omission,
interpretation, construction or determination made in good faith in connection
with the Plan, and the members of the Board and the Committee (and any delegate
thereof) shall be entitled in all cases to indemnification and reimbursement by
the Company in respect of any claim, loss, damage or expense (including, without
limitation, reasonable attorneys' fees) arising or resulting therefrom to the
fullest extent permitted by law and/or under any directors' and officers'
liability insurance coverage which may be in effect from time to time and/or any
indemnification agreement between such individual and the Company.

SECTION 3. SHARES ISSUABLE UNDER THE PLAN; MERGERS; SUBSTITUTION

     (a) Shares Issuable. The maximum number of Shares reserved and available
for issuance under the Plan shall be 4,000,000 Shares, subject to adjustment as
provided below and in Section 3(b); provided that not more than 25% of Shares
Issuable shall be issued in the form of Incentive Share Options. Further, to the
extent that Shares are issued in the form of Unrestricted Share Awards,
Restricted Share Awards or Phantom Share Units, such Awards shall be considered
the equivalent of one and one-half (1.5) Options for purposes of determining
share usage under the provisions of this Section 3(a). The Shares underlying any
Awards under this Plan, underlying any award under the Company's 1997 Share
Option Plan, as amended to date, or underlying any award under the Company's
1997 Director Share Option Plan, as amended to date, that are forfeited,
cancelled, held back upon exercise of an Option or settlement of an Award to
cover the exercise price or tax withholding, reacquired by the Company prior to
vesting, satisfied without the issuance of Shares or otherwise terminated (other
than by exercise) shall be added to the Shares available for issuance under the
Plan. Subject to such overall limitations, Shares may be issued up to such
maximum number pursuant to any type or types of Award; provided, however, that
Share Options or Share Appreciation Rights with respect to no more than 70% of
Shares Issuable may be granted to any one individual grantee during any one
calendar year period. The Shares available for issuance under the Plan may be
authorized but unissued Shares or Shares reacquired by the Company.

     (b) Changes in Shares. Subject to Section 3(c) hereof, if, as a result of
any reorganization, recapitalization, reclassification, share dividend, share
split, reverse share split or consolidation or change of the par value of a
Share or reduction or other change in the Company's share capital, the
outstanding Shares are increased or decreased or are exchanged for a different
number or kind of shares or other securities of the Company, or additional
shares or new or different shares or other securities of the Company or other
non-cash assets are distributed with respect to such Shares or other securities,
or, if, as a result of any merger or consolidation, sale of all or substantially
all of the assets of the Company, the outstanding Shares are converted into or
exchanged for a different number or kind of securities of the Company or any
successor entity (or a parent or subsidiary thereof), the Administrator shall
make an appropriate or proportionate adjustment in (i) the maximum number and/or
class of Shares reserved for issuance under the Plan, (ii) the number of Share
Options or Share Appreciation

                                       4

<PAGE>

Rights that can be granted to any one individual grantee and the maximum number
of Shares that may be granted under a performance-based Award, (iii) the number
and/or class of Shares or other securities subject to any then outstanding
Awards under the Plan, (iv) the repurchase price, if any, per Share subject to
each outstanding Restricted Share Award, (v) the number of Share Options
automatically granted to Non-Employee Directors, and (vi) the price for each
Share subject to any then outstanding Share Options and Share Appreciation
Rights under the Plan, without changing the aggregate exercise price (i.e., the
exercise price multiplied by the number of Share Options and Share Appreciation
Rights) as to which each Share Option and Share Appreciation Right remains
exercisable. The adjustment by the Administrator shall be final, binding and
conclusive. No fractional Shares shall be issued under the Plan resulting from
any such adjustment, but the Administrator in its discretion may make a cash
payment in lieu of fractional shares.

     The Administrator may also adjust the number of Shares subject to
outstanding Awards and the exercise price and the terms of outstanding Awards to
take into consideration material changes in accounting practices or principles,
extraordinary dividends, acquisitions or dispositions of Shares or property or
any other event if it is determined by the Administrator that such adjustment is
appropriate to avoid distortion in the operation of the Plan, provided that no
such adjustment shall be made in the case of a Share Option or Share
Appreciation Right, without the consent of the grantee, if it would constitute a
modification, extension or renewal of the Option within the meaning of Section
424(h) of the Code.

     (c) Mergers and Other Transactions. In the event of and subject to the
consummation of (i) the dissolution or liquidation of the Company, (ii) the sale
of all or substantially all of the assets of the Company on a consolidated basis
to an unrelated person or entity, (iii) a merger, reorganization, plan of
arrangement or consolidation in which the outstanding Shares are converted into
or exchanged for a different kind of securities of the successor entity and the
holders of the Company's outstanding voting securities immediately prior to such
transaction do not own a majority of the outstanding voting power of the
successor entity immediately upon completion of such transaction, or (iv) the
sale of all of the Shares of the Company to an unrelated person or entity (in
each case, a "Sale Event"), the Plan and all outstanding Awards granted
hereunder shall terminate, unless provision is made in connection with the Sale
Event in the sole discretion of the parties thereto for the assumption or
continuation of Awards theretofore granted by the successor entity, or the
substitution of such Awards with new Awards of the successor entity or parent
thereof, with appropriate adjustment as to the number and kind of Shares and, if
appropriate, the per share exercise prices, as such parties shall agree (after
taking into account any acceleration hereunder). In the event of such
termination, each grantee shall be permitted, within a specified period of time
prior to the consummation of the Sale Event as determined by the Administrator,
to exercise all outstanding Options and Share Appreciation Rights held by such
grantee; provided, however, that the exercise of Options and Share Appreciation
Rights not exercisable prior to the Sale Event shall be subject to the
consummation of the Sale Event or if the Sale Event occurs pursuant to a general
offer made to acquire all of the issued and to be issued share capital of the
Company, subject to such offer being declared unconditional in all respects.

     Notwithstanding anything to the contrary in this Section 3(c), in the event
of a Sale Event pursuant to which holders of Shares will receive upon
consummation thereof a cash payment for

                                       5

<PAGE>

each Share surrendered in the Sale Event, the Company shall have the right, but
not the obligation, to make or provide for a cash payment to the grantees
holding Options and Share Appreciation Rights, in exchange for the cancellation
thereof, in an amount equal to the difference between (A) the value as
determined by the Administrator of the consideration payable per Share pursuant
to the Sale Event (the "Sale Price") multiplied by the number of Shares subject
to each outstanding Option and Share Appreciation Right (to the extent then
exercisable at prices not in excess of the Sale Price) and (B) the aggregate
exercise price of each such outstanding Option and Share Appreciation Right.

     (d) Substitute Awards. The Administrator may grant Awards under the Plan in
substitution for shares and share based awards held by employees, directors or
other key persons of another corporation in connection with the merger or
consolidation of the employing corporation with the Company or a Subsidiary or
the acquisition by the Company or a Subsidiary of property or shares of the
employing corporation. The Administrator may direct that the substitute awards
be granted on such terms and conditions as the Administrator considers
appropriate in the circumstances. Any substitute Awards granted under the Plan
shall not count against the share limitation set forth in Section 3(a).

SECTION 4. ELIGIBILITY

     Grantees under the Plan will be such full or part-time officers and other
employees, directors and key persons (including consultants and prospective
employees) of the Company and its Subsidiaries as are selected from time to time
by the Administrator in its sole discretion.

SECTION 5. SHARE OPTIONS

     Any Share Option granted under the Plan shall be in such form as the
Administrator may from time to time approve.

     Share Options granted under the Plan may be either Incentive Share Options
or Non-Qualified Share Options. Incentive Share Options may be granted only to
employees of the Company or any Subsidiary that is a "subsidiary corporation"
within the meaning of Section 424(f) of the Code. To the extent that any Option
does not qualify as an Incentive Share Option, it shall be deemed a
Non-Qualified Share Option.

     (a) Share Options Granted to Employees and Key Persons. The Administrator
in its discretion may grant Share Options to eligible employees and key persons
of the Company or any Subsidiary. Share Options granted pursuant to this Section
5(a) shall be subject to the following terms and conditions and shall contain
such additional terms and conditions, not inconsistent with the terms of the
Plan, as the Administrator shall deem desirable.

          (i) Exercise Price. The exercise price per share for the Shares
covered by a Share Option granted pursuant to this Section 5(a) shall be
determined by the Administrator at the time of grant but shall not be less than
one hundred percent (100%) of the Fair Market Value on the date of grant. In the
case of an Incentive Share Option that is granted to a Ten Percent Owner, the
option price of such Incentive Share Option shall be not less than one hundred
ten percent (110%) of the Fair Market Value on the grant date.

                                       6

<PAGE>

          (ii) Option Term. The term of each Share Option shall be fixed by the
Administrator at the time of grant, but no Share Option shall be exercisable
more than ten (10) years after the date of grant of the Share Option. In the
case of an Incentive Share Option that is granted to a Ten Percent Owner, the
term of such Share Option shall be no more than five (5) years from the date of
grant.

          (iii) Exercisability; Rights of a Shareholder. Share Options shall
become exercisable at such time or times, whether or not in instalments, as
shall be determined by the Administrator at or after the date of grant. The
Administrator may at any time accelerate the exercisability of all or any
portion of any Share Option. An optionee shall have the rights of a shareholder
only as to Shares acquired upon the exercise of a Share Option and not as to
unexercised Share Options.

          (iv) Method of Exercise. Share Options may be exercised in whole or in
part, by giving written notice of exercise 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 to the extent provided in the Option Award
agreement:

               (A) In cash, by certified or bank check or other instrument
     acceptable to the Administrator;

               (B) Through the delivery (or attestation to the ownership) of
     Shares that have been purchased by the optionee on the open market or that
     are beneficially owned by the optionee and are not then subject to
     restrictions under any Company plan. Such surrendered Shares shall be
     valued at Fair Market Value on the exercise date. To the extent required to
     avoid variable accounting treatment under FAS 123R or other applicable
     accounting rules, such surrendered Shares shall have been owned by the
     optionee for at least six (6) months; or

               (C) By the optionee delivering to the Company 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 for the purchase price; provided that in the event the optionee
     chooses 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 Administrator shall prescribe as a
     condition of such payment procedure.

Payment instruments will be received subject to collection. The transfer to the
optionee on the records of the Company or of the transfer agent of the Shares to
be purchased pursuant to the exercise of a Share Option will be contingent upon
receipt from the optionee (or a purchaser acting in his stead in accordance with
the provisions of the Share Option) by the Company of the full purchase price
for such Shares and the fulfilment of any other requirements contained in the
Option Award agreement or applicable provisions of laws (including the
satisfaction of any withholding taxes that the Company is obligated to withhold
with respect to the optionee). In the event an optionee chooses to pay the
purchase price by previously-owned Shares through the attestation method, the
number of Shares transferred to the optionee upon the exercise of the Share
Option shall be net of the number of Shares attested to.

                                       7

<PAGE>

          (v) Annual Limit on Incentive Share Options. To the extent required
for "incentive stock option" treatment under Section 422 of the Code, the
aggregate Fair Market Value (determined as of the time of grant) of the Shares
with respect to which Incentive Share Options granted under this Plan and any
other plan of the Company or its parent and subsidiary corporations become
exercisable for the first time by an optionee during any calendar year shall not
exceed $100,000. To the extent that any Share Option exceeds this limit, it
shall constitute a Non-Qualified Share Option.

     (b) Share Options Granted to Non-Employee Directors.

          (i) Automatic Grant of Options.

               (A) Subject to the availability of Shares under this Plan, each
     Non-Employee Director who is serving as a director of the Company
     immediately after each annual meeting of shareholders, beginning with the
     2006 annual meeting, shall automatically be granted on such day a
     Non-Qualified Share Option to acquire 3,000 Shares; provided, however, that
     notwithstanding the foregoing (x) if a Non-Employee Director is obliged to
     seek re-election by rotation at such annual meeting, such amount shall be
     increased from 3,000 Shares to 21,000 Shares; (y) if a Non-Employee
     Director has received an Option pursuant to Section 5(b)(i)(B) after the
     date of the prior year's annual meeting of shareholders, then such amount
     shall be decreased from 3,000 Shares to zero (0) Shares; and (z) if a
     Non-Employee director has participated in fewer than 75% of the meetings of
     the Board in the period commencing on the date of the prior year's annual
     meeting of shareholders terminating on the date of such annual meeting of
     shareholders, then such amount shall be decreased from 3,000 Shares to zero
     (0) Shares.

               (B) Subject to the availability of Shares under this Plan, each
     Non-Employee Director who is first elected to serve as a Director after the
     Effective Date shall be granted, on the date of his election, a
     Non-Qualified Stock Option to acquire 30,000 Shares.

               (C) The exercise price per share for the Shares covered by a
     Share Option granted under this Section 5(b) shall be equal to the Fair
     Market Value of the Shares on the date the Share Option is granted.

               (D) The Administrator, in its discretion, may grant additional
     Non-Qualified Share Options to Non-Employee Directors. Any such grant may
     vary among individual Non-Employee Directors.

               (E) Nothing in this Section 5(b) shall entitle a Non-Employee
     Director to be granted an option at a date on which by reason of the laws
     of the United States, Ireland or any other applicable jurisdiction, it
     would be illegal to grant an option to such Non-Employee Director by reason
     of insider-dealing or insider-trading laws or otherwise. In such event, the
     grant of the relevant Option shall be deferred until the first day on which
     it becomes lawful to grant such Option.

                                       8

<PAGE>

          (ii) Exercise; Termination.

               (A) Unless otherwise determined by the Administrator, an Option
     granted under Section 5(b) shall be exercisable with respect to (x)
     one-third of such Option as of the date of grant; (y) two-thirds of such
     Option as of the first anniversary of the date of grant; and (z) in full as
     of the second anniversary of the date of grant. Notwithstanding the
     foregoing, upon the occurrence of a Sale Event, all Options issued under
     this Section 5(b) shall be immediately exercisable in full. An Option
     issued under this Section 5(b) shall not be exercisable after the
     expiration of ten (10) years from the date of grant.

               (B) Options granted under this Section 5(b) may be exercised only
     by written notice to the Company specifying the number of Shares to be
     purchased. Payment of the full purchase price of the Shares to be purchased
     may be made by one or more of the methods specified in Section 5(a)(iv). An
     optionee shall have the rights of a shareholder only as to Shares acquired
     upon the exercise of a Share Option and not as to unexercised Share
     Options.

SECTION 6. SHARE APPRECIATION RIGHTS

     (a) Nature of Share Appreciation Rights. A Share Appreciation Right is an
Award entitling the recipient to receive Shares having a value equal to the
excess of the Fair Market Value of the Shares on the date of exercise over the
exercise price of the Share Appreciation Right, which price shall not be less
than one hundred percent (100%) of the Fair Market Value of the Shares on the
date of grant (or more than the option exercise price per share, if the Share
Appreciation Right was granted in tandem with a Share Option) multiplied by the
number of Shares with respect to which the Share Appreciation Right shall have
been exercised.

     (b) Terms and Conditions of Share Appreciation Rights. Share Appreciation
Rights shall be subject to such terms and conditions as shall be determined from
time to time by the Administrator; provided, however, that if the Shares
delivered in satisfaction of a Share Appreciation Right are newly issued Shares,
the issuance of such Shares shall be subject to payment by the Award holder of
the par value per Share.

SECTION 7. RESTRICTED SHARE AWARDS

     (a) Nature of Restricted Share Awards. A Restricted Share Award is an Award
entitling the recipient to acquire, at such purchase price (which may be any
amount equal to or greater than the par value of the underlying Shares) as
determined by the Administrator, Shares subject to such restrictions and
conditions as the Administrator may determine at the time of grant ("Restricted
Shares"). Conditions may be based on continuing employment (or other service
relationship) and/or achievement of pre-established performance goals and
objectives. The grant of a Restricted Share Award is contingent on the grantee
executing the Restricted Share Award agreement. The terms and conditions of each
such agreement shall be determined by the Administrator, and such terms and
conditions may differ among individual Awards and grantees.

                                       9

<PAGE>

     (b) Rights as a Shareholder. Upon execution of a written instrument setting
forth the Restricted Share Award and payment of any applicable purchase price, a
grantee shall have the rights of a shareholder with respect to the voting of the
Restricted Shares, subject to such conditions contained in the written
instrument evidencing the Restricted Share Award. Unless the Administrator shall
otherwise determine, (i) uncertificated Restricted Shares shall be accompanied
by a notation on the records of the Company or the transfer agent to the effect
that they are subject to forfeiture until such Restricted Shares are vested as
provided in Section 7(d) below, and (ii) certificated Restricted Shares shall
remain in the possession of the Company until such Restricted Shares are vested
as provided in Section 7(d) below, and the grantee shall be required, as a
condition of the grant, to deliver to the Company such instruments of transfer
as the Administrator may prescribe.

     (c) Restrictions. Restricted Shares may not be sold, assigned, transferred,
pledged or otherwise encumbered or disposed of except as specifically provided
herein or in the Restricted Share Award agreement. Except as may otherwise be
provided by the Administrator either in the Award agreement or, subject to
Section 15 below, in writing after the Award agreement is issued, if any, if a
grantee's employment (or other service relationship) with the Company and its
Subsidiaries terminates for any reason, any Restricted Shares that have not
vested at the time of termination shall automatically and without any
requirement of notice to such grantee from or other action by or on behalf of,
the Company be deemed to have been forfeited and reacquired by the Company
without payment of any consideration from such grantee or such grantee's legal
representative simultaneously with such termination of employment (or other
service relationship), and thereafter shall cease to represent any ownership of
the Company by the grantee or rights of the grantee as a shareholder. Following
such deemed forfeiture and reacquisition of unvested Restricted Shares that are
represented by physical certificates, a grantee shall surrender such
certificates to the Company upon request without consideration.

     (d) Vesting of Restricted Shares. The Administrator at the time of grant
shall specify the date or dates and/or the attainment of pre-established
performance goals, objectives and other conditions on which the
non-transferability of the Restricted Shares and the Company's right of
repurchase or forfeiture shall lapse. Notwithstanding the foregoing, in the
event that any such Restricted Shares shall have a performance-based goal, the
restriction period with respect to such Shares shall not be less than one (1)
year, and in the event any such Restricted Shares shall have a time-based
restriction, the total restriction period with respect to such Shares shall not
be less than three (3) years; provided, however, that Restricted Shares with a
time-based restriction may become vested incrementally over such three-year
period. Subsequent to such date or dates and/or the attainment of such
pre-established performance goals, objectives and other conditions, the Shares
on which all restrictions have lapsed shall no longer be Restricted Shares and
shall be deemed "vested." Except as may otherwise be provided by the
Administrator either in the Award agreement or, subject to Section 15 below, in
writing after the Award agreement is issued, a grantee's rights in any
Restricted Shares that have not vested shall automatically terminate upon the
grantee's termination of employment (or other service relationship) with the
Company and its Subsidiaries and such Shares shall be subject to the provisions
of Section 7(c) above.

                                       10

<PAGE>

SECTION 8. PHANTOM SHARE UNITS

     (a) Nature of Phantom Share Units. A Phantom Share Unit is an Award of
phantom share units to a grantee, subject to such restrictions and conditions as
the Administrator may determine at the time of grant. Conditions may be based on
continuing employment (or other service relationship) and/or achievement of
pre-established performance goals and objectives. The grant of a Phantom Share
Unit is contingent on the grantee executing the Phantom Share Unit agreement.
The terms and conditions of each such agreement shall be determined by the
Administrator, and such terms and conditions may differ among individual Awards
and grantees. Notwithstanding the foregoing, in the event that any such Phantom
Share Unit shall have a performance-based goal, the restriction period with
respect to such award shall not be less than one (1) year, and in the event any
such Phantom Share Unit shall have a time-based restriction, the total
restriction period with respect to such award shall not be less than three (3)
years; provided, however, that any Phantom Share Unit with a time-based
restriction may become vested incrementally over such three-year period. At the
end of the deferral period, the Phantom Share Unit, to the extent vested, shall
be paid to the grantee in the form of Shares; provided, however, that if the
Shares delivered in satisfaction of a Phantom Share Unit are newly issued
Shares, the issuance of such Shares shall be subject to payment by the Award
holder of the par value per Share.

     (b) Election to Receive Phantom Share Units in Lieu of Compensation. The
Administrator may, in its sole discretion, permit a grantee to elect to receive
a portion of future cash compensation otherwise due to such grantee in the form
of a Phantom Share Unit. Any such election shall be made in writing and shall be
delivered to the Company no later than the date specified by the Administrator
and in accordance with Section 409A and such other rules and procedures
established by the Administrator. The Administrator shall have the sole right to
determine whether and under what circumstances to permit such elections and to
impose such limitations and other terms and conditions thereon as the
Administrator deems appropriate. Any such deferred compensation shall be
converted to a fixed number of phantom share units based on the Fair Market
Value of the Shares on the date the compensation would otherwise have been paid
to the grantee but for the deferral.

     (c) Rights as a Shareholder. During the deferral period, a grantee shall
have no rights as a shareholder.

     (d) Termination. Except as may otherwise be provided by the Administrator
either in the Award agreement or, subject to Section 15 below, in writing after
the Award agreement is issued, a grantee's right in all Phantom Share Units that
have not vested shall automatically terminate upon the grantee's termination of
employment (or cessation of service relationship) with the Company and its
Subsidiaries for any reason.

SECTION 9. UNRESTRICTED SHARE AWARDS

     Grant or Sale of Unrestricted Shares. The Administrator may, in its sole
discretion, grant (or sell at par value or such higher purchase price determined
by the Administrator) an Unrestricted Share Award to any grantee pursuant to
which such grantee may receive Shares free of any restrictions ("Unrestricted
Shares") under the Plan; provided, however, that if such Shares

                                       11

<PAGE>

are newly issued Shares, the issuance of such Shares shall be subject to payment
by the Award holder of the par value per Share.

SECTION 10. PERFORMANCE-BASED AWARDS TO COVERED EMPLOYEES

     Notwithstanding anything to the contrary contained herein, if any
Restricted Share Award or Phantom Share Unit granted to a Covered Employee is
intended to qualify as "Performance-based Compensation" under Section 162(m) of
the Code and the regulations promulgated thereunder (a "Performance-based
Award"), such Award shall comply with the provisions set forth below:

     (a) Performance Criteria. The performance criteria used in performance
goals governing Performance-based Awards granted to Covered Employees may
include any or all of the following: (i) the Company's return on equity, assets,
capital or investment: (ii) pre-tax or after-tax profit levels of the Company or
any Subsidiary, a division, an operating unit or a business segment of the
Company, or any combination of the foregoing; (iii) cash flow, funds from
operations or similar measure; (iv) total shareholder return; (v) changes in the
market price of the Shares; (vi) sales or market share; or (vii) earnings per
share.

     (b) Grant of Performance-based Awards. With respect to each
Performance-based Award granted to a Covered Employee, the Committee shall
select, within the first ninety (90) days of a Performance Cycle (or, if
shorter, within the maximum period allowed under Section 162(m) of the Code) the
performance criteria for such grant, and the achievement targets with respect to
each performance criterion (including a threshold level of performance below
which no amount will become payable with respect to such Award). Each
Performance-based Award will specify the amount payable, or the formula for
determining the amount payable, upon achievement of the various applicable
performance targets. The performance criteria established by the Committee may
be (but need not be) different for each Performance Cycle and different goals
may be applicable to Performance-based Awards to different Covered Employees.

     (c) Payment of Performance-based Awards. Following the completion of a
Performance Cycle, the Committee shall meet to review and certify in writing
whether, and to what extent, the performance criteria for the Performance Cycle
have been achieved and, if so, to also calculate and certify in writing the
amount of the Performance-based Awards earned for the Performance Cycle. The
Committee shall then determine the actual size of each Covered Employee's
Performance-based Award, and, in doing so, may reduce or eliminate the amount of
the Performance-based Award for a Covered Employee if, in its sole judgment,
such reduction or elimination is appropriate.

     (d) Maximum Award Payable. The maximum Performance-based Award payable to
any one Covered Employee under the Plan for a Performance Cycle is 250,000
Shares (subject to adjustment as provided in Section 3(b) hereof).

SECTION 11. TRANSFERABILITY OF AWARDS

     (a) Transferability. Except as provided in Section 11(b) below, during a
grantee's lifetime, his or her Awards shall be exercisable only by the grantee,
or by the grantee's legal representative or guardian in the event of the
grantee's incapacity. No Awards shall be sold,

                                       12

<PAGE>

assigned, transferred or otherwise encumbered or disposed of by a grantee other
than by will or by the laws of descent and distribution. No Awards shall be
subject, in whole or in part, to attachment, execution, or levy of any kind, and
any purported transfer in violation hereof shall be null and void.

     (b) Committee Action. Notwithstanding Section 11(a), the Administrator, in
its discretion, may provide either in the Award agreement regarding a given
Award or by subsequent written approval that the grantee (who is an employee or
director) may transfer his or her Awards (other than any Incentive Share
Options) to his or her immediate family members, to trusts for the benefit of
such family members, or to partnerships in which such family members are the
only partners, provided that the transferee agrees in writing with the Company
to be bound by all of the terms and conditions of this Plan and the applicable
Award.

     (c) Family Member. For purposes of Section 11(b), "family member" shall
mean a grantee's child, stepchild, grandchild, parent, stepparent, grandparent,
spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law,
son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including
adoptive relationships, any person sharing the grantee's household (other than a
tenant of the grantee), a trust in which these persons (or the grantee) have
more than fifty percent (50%) of the beneficial interest, a foundation in which
these persons (or the grantee) control the management of assets, and any other
entity in which these persons (or the grantee) own more than fifty percent (50%)
of the voting interests.

     (d) Designation of Beneficiary. Each grantee to whom an Award has been made
under the Plan may designate a beneficiary or beneficiaries to exercise any
Award or receive any payment under any Award payable on or after the grantee's
death. Any such designation shall be on a form provided for that purpose by the
Administrator and shall not be effective until received by the Administrator. If
no beneficiary has been designated by a deceased grantee, or if the designated
beneficiaries have predeceased the grantee, the beneficiary shall be the
grantee's estate.

SECTION 12. TAX WITHHOLDING

     (a) Payment by Grantee. Each grantee shall, no later than the date as of
which the value of an Award or of any Shares or other amounts received
thereunder first becomes includable in the gross income of the grantee for U.S.
federal income tax purposes or, in the case of grantees located outside the
United States for income tax purposes in the relevant jurisdiction, pay to the
Company, or make arrangements satisfactory to the Administrator regarding
payment of, any U.S. federal, state, or local taxes of any kind or, in the case
of grantees located outside the United States any income taxes, deductions or
levies or other deductions of any kind applicable in the relevant jurisdiction,
required by law to be withheld by the Company with respect to such income. The
Company and its Subsidiaries shall, to the extent permitted by law, have the
right to deduct any such amounts from any payment of any kind otherwise due to
the grantee. The Company's obligation to deliver evidence of book entry (or
share certificates) to any grantee is subject to and conditioned on tax
withholding obligations being satisfied by the grantee.

                                       13

<PAGE>

     (b) Payment in Shares. Subject to approval by the Administrator, a grantee
may elect to have the Company's minimum required tax withholding obligation
satisfied, in whole or in part, by (i) authorizing the Company to withhold from
Shares to be issued pursuant to any Award a number of Shares with an aggregate
Fair Market Value (as of the date the withholding is effected) that would
satisfy the withholding amount due, or (ii) transferring to the Company Shares
owned by the grantee with an aggregate Fair Market Value (as of the date the
withholding is effected) that would satisfy the withholding amount due.

SECTION 13. ADDITIONAL CONDITIONS APPLICABLE TO NON-QUALIFIED DEFERRED
     COMPENSATION UNDER SECTION 409A.

     In the event any Share Option or Share Appreciation Right under the Plan is
granted with an exercise price of less than one hundred percent (100%) of the
Fair Market Value on the date of grant (regardless of whether or not such
exercise price is intentionally or unintentionally priced at less than Fair
Market Value), or such grant is materially modified and deemed a new grant at a
time when the Fair Market Value exceeds the exercise price, or any other Award
is otherwise determined to constitute "non-qualified deferred compensation"
within the meaning of Section 409A (a "409A Award"), the following additional
conditions shall apply and shall supersede any contrary provisions of this Plan
or the terms of any agreement relating to such 409A Award.

     (a) Exercise and Distribution. Except as provided in Section 13(b) hereof,
no 409A Award shall be exercisable or distributable earlier than upon one of the
following:

          (i) Specified Time. A specified time or a fixed schedule set forth in
the written instrument evidencing the 409A Award.

          (ii) Separation from Service. Separation from service (within the
meaning of Section 409A) by the 409A Award grantee; provided, however, that if
the 409A Award grantee is a "key employee" (as defined in Section 416(i) of the
Code without regard to paragraph (5) thereof) and any of the Company's Shares
are publicly traded on an established securities market or otherwise, exercise
or distribution under this Section 13(a)(ii) may not be made before the date
that is six (6) months after the date of separation from service.

          (iii) Death. The date of death of the 409A Award grantee.

          (iv) Disability. The date the 409A Award grantee becomes disabled
(within the meaning of Section 13(c)(ii) hereof).

          (v) Unforeseeable Emergency. The occurrence of an unforeseeable
emergency (within the meaning of Section 13(c)(iii) hereof), but only if the net
value (after payment of the exercise price) of the number of Shares that become
issuable does not exceed the amounts necessary to satisfy such emergency plus
amounts necessary to pay taxes reasonably anticipated as a result of the
exercise, after taking into account the extent to which the emergency is or may
be relieved through reimbursement or compensation by insurance or otherwise or
by liquidation of the grantee's other assets (to the extent such liquidation
would not itself cause severe financial hardship).

                                       14

<PAGE>

          (vi) Change in Control Event. The occurrence of a Change in Control
Event (within the meaning of Section 13(c)(i) hereof), including the Company's
discretionary exercise of the right to accelerate vesting of such grant upon a
Change in Control Event or to terminate the Plan or any 409A Award granted
hereunder within twelve (12) months of the Change in Control Event.

     (b) No Acceleration. A 409A Award may not be accelerated or exercised prior
to the time specified in Section 13(a) hereof, except in the case of one of the
following events:

          (i) Domestic Relations Order. The 409A Award may permit the
acceleration of the exercise or distribution time or schedule to an individual
other than the grantee as may be necessary to comply with the terms of a
domestic relations order (as defined in Section 414(p)(1)(B) of the Code).

          (ii) Conflicts of Interest. The 409A Award may permit the acceleration
of the exercise or distribution time or schedule as may be necessary to comply
with the terms of a certificate of divestiture (as defined in Section 1043(b)(2)
of the Code).

          (iii) Change in Control Event. The Administrator may exercise the
discretionary right to accelerate the vesting of such 409A Award upon a Change
in Control Event or to terminate the Plan or any 409A Award granted thereunder
within twelve (12) months of the Change in Control Event and cancel the 409A
Award for compensation.

     (c) Definitions. Solely for purposes of this Section 13 and not for other
purposes of the Plan, the following terms shall be defined as set forth below:

          (i) "Change in Control Event" means the occurrence of a change in the
ownership of the Company, a change in effective control of the Company, or a
change in the ownership of a substantial portion of the assets of the Company
(as defined in Section 1.409A-3(g) of the proposed regulations promulgated under
Section 409A by the U.S. Department of the Treasury on September 29, 2005 or any
subsequent guidance).

          (ii) "Disabled" means a grantee who (i) is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or
mental impairment that can be expected to result in death or can be expected to
last for a continuous period of not less than twelve (12) months, or (ii) is, by
reason of any medically determinable physical or mental impairment that can be
expected to result in death or can be expected to last for a continuous period
of not less than twelve (12) months, receiving income replacement benefits for a
period of not less than three (3) months under an accident and health plan or
scheme covering employees of the Company or its Subsidiaries.

          (iii) "Unforeseeable Emergency" means a severe financial hardship to
the grantee resulting from an illness or accident of the grantee, the grantee's
spouse, or a dependent (as defined in Section 152(a) of the Code) of the
grantee, loss of the grantee's property due to casualty, or similar
extraordinary and unforeseeable circumstances arising as a result of events
beyond the control of the grantee.

                                       15

<PAGE>

SECTION 14. TRANSFER, LEAVE OF ABSENCE, ETC.

     For purposes of the Plan, the following events shall not be deemed a
termination of employment:

     (a) a transfer to the employment of the Company from a Subsidiary or from
the Company to a Subsidiary, or from one Subsidiary to another; or

     (b) an approved leave of absence for military service or sickness, or for
any other purpose approved by the Company, if the employee's right to
re-employment is guaranteed either by a statute or by contract or under the
policy pursuant to which the leave of absence was granted or if the
Administrator otherwise so provides in writing.

SECTION 15. AMENDMENTS AND TERMINATION

     The Board may, at any time, amend or discontinue the Plan and the
Administrator may, at any time, amend or cancel any outstanding Award for the
purpose of satisfying changes in law or for any other lawful purpose, but no
such action shall adversely affect rights under any outstanding Award without
the holder's consent. Except as provided in Section 3(b) or 3(c), in no event
may the Administrator exercise its discretion to reduce the exercise price of
outstanding Share Options or Share Appreciation Rights or effect repricing
through cancellation and re-grants. Any material Plan amendments (other than
amendments that curtail the scope of the Plan), including any Plan amendments
that (i) increase the number of Shares reserved for issuance under the Plan,
(ii) expand the type of Awards available under, materially expand the
eligibility to participate in, or materially extend the term of, the Plan, or
(iii) materially change the method of determining Fair Market Value, shall be
subject to approval by the Company shareholders entitled to vote at a meeting of
shareholders. In addition, to the extent determined by the Administrator to be
required by the Code to ensure that Incentive Share Options granted under the
Plan are qualified under Section 422 of the Code or to ensure that compensation
earned under Awards qualifies as performance-based compensation under Section
162(m) of the Code, Plan amendments shall be subject to approval by the Company
shareholders entitled to vote at a meeting of shareholders. Nothing in this
Section 15 shall limit the Administrator's authority to take any action
permitted pursuant to Section 3(c).

SECTION 16. STATUS OF PLAN

     With respect to the portion of any Award that has not been exercised and
any payments in cash, Shares or other consideration not received by a grantee, a
grantee shall have no rights greater than those of a general creditor of the
Company unless the Administrator shall otherwise expressly determine in
connection with any Award or Awards. In its sole discretion, the Administrator
may authorize the creation of trusts or other arrangements to meet the Company's
obligations to deliver Shares or make payments with respect to Awards hereunder,
provided that the existence of such trusts or other arrangements is consistent
with the foregoing sentence.

SECTION 17. GENERAL PROVISIONS

     (a) No Distribution; Compliance with Legal Requirements. The Administrator
may require each person acquiring Shares pursuant to an Award to represent to
and agree with the

                                       16

<PAGE>

Company in writing that such person is acquiring the Shares without a view to
distribution thereof.

     No Shares shall be issued pursuant to an Award until all applicable
securities law and other legal and stock exchange or similar requirements have
been satisfied. The Administrator may require the placing of such stop-orders
and restrictive legends on certificates for Shares and Awards as it deems
appropriate.

     (b) Delivery of Share Certificates. Share certificates to grantees under
this Plan shall be deemed delivered for all purposes when the Company or a share
transfer agent of the Company shall have mailed such certificates in the Irish
or United States mail, addressed to the grantee, at the grantee's last known
address on file with the Company. Uncertificated Shares shall be deemed
delivered for all purposes when the Company or a Share transfer agent of the
Company shall have given to the grantee by electronic mail (with proof of
receipt) or by Irish or United States mail, addressed to the grantee, at the
grantee's last known address on file with the Company, notice of issuance and
recorded the issuance in its records (which may include electronic "book entry"
records).

     (c) Other Compensation Arrangements; No Employment Rights. Nothing
contained in this Plan shall prevent the Board from adopting other or additional
compensation arrangements, including trusts, and such arrangements may be either
generally applicable or applicable only in specific cases. The adoption of this
Plan and the grant of Awards do not confer upon any employee any right to
continued employment with the Company or any Subsidiary. Neither the Plan nor
any Award shall form part of the terms and conditions of employment or
engagement between an employee and the Company or any Subsidiary and
consequently, rights and obligations of an Award holder under the terms and
conditions of his office with or employment or engagement by any such company
shall not be affected by his receipt of an Award under the Plan. Accordingly,
the Participant shall have no right to any compensation arising for the loss of
his entitlement (for any reason whatsoever) with respect to his Award as a
result of the termination of his employment or office (for any reason
whatsoever) whether such compensation is claimed by way of damages for unfair or
wrongful dismissal or other breach of contract or by way of compensation for
loss of office or otherwise howsoever.

     (d) Trading Policy Restrictions. Option exercises and other Awards under
the Plan shall be subject to such Company's insider trading policy and
procedures, as in effect from time to time.

     (e) Forfeiture of Awards under Sarbanes-Oxley Act. If the Company is
required to prepare an accounting restatement due to the material non-compliance
of the Company, as a result of misconduct, with any financial reporting
requirement under any applicable securities laws, then any grantee who is one of
the individuals subject to automatic forfeiture under Section 304 of the
Sarbanes-Oxley Act of 2002 shall reimburse the Company for the amount of any
Award received by such individual under the Plan during the 12-month period
following the first public issuance or filing with the United States Securities
and Exchange Commission, as the case may be, of the financial document embodying
such financial reporting requirement.

                                       17

<PAGE>

SECTION 18. EFFECTIVE DATE OF PLAN

     This Plan shall become effective upon approval by the holders of a majority
of the votes cast at a meeting of shareholders at which a quorum is present. No
grants of Share Options and other Awards may be made hereunder after the tenth
(10th) anniversary of the Effective Date and no grants of Incentive Share
Options may be made hereunder after the tenth (10th) anniversary of the date the
Plan is approved by the Board.

SECTION 19. GOVERNING LAW

     This Plan and all Awards and actions taken thereunder shall be governed by,
and construed in accordance with, the laws of Ireland, applied without regard to
conflict of law principles.

DATE APPROVED BY BOARD OF DIRECTORS: May 10, 2006

DATE APPROVED BY SHAREHOLDERS: August 24, 2006

                                       18

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