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                                                                     EXHIBIT 4.1

                                   TRANSLATION
                                   -----------

        ETABLISSEMENTS DELHAIZE FRERES ET CIE "LE LION" (GROUPE DELHAIZE)
         In Dutch GEBROEDERS DELHAIZE EN CIE "DE LEEUW" (DELHAIZE GROEP)
                       Public company ("societe anonyme")
                    at Molenbeek-Saint-Jean, rue Osseghem 53
                     Trade Register of Brussels number 8831.
                     Value Added Tax number BE 402.206.045.

         Coordination of the Articles of association as of May 23, 2002
         --------------------------------------------------------------

                       PART ONE - CHARACTER OF THE COMPANY

ARTICLE ONE - FORM AND CORPORATE NAME
-------------------------------------

The company is a public company ("societe anonyme") calling or having called for
public savings. Its corporate name is "ETABLISSEMENTS DELHAIZE FRERES ET Cie "LE
LION" (GROUPE DELHAIZE)", in Dutch "GEBROEDERS DELHAIZE EN Cie "DE LEEUW"
(DELHAIZE GROEP)" and in English "DELHAIZE BROTHERS AND Co. "THE LION" (DELHAIZE
GROUP)", in abridged "GROUPE DELHAIZE", in Dutch "DELHAIZE GROEP" and in English
"DELHAIZE GROUP", the company being allowed to use its full corporate name or
any of its abridged corporate names.

ARTICLE TWO - CORPORATE PURPOSE
-------------------------------

The corporate purpose of the company is the trade of durable or non-durable
merchandise and commodities, of wine and spirits, the manufacture and sale of
all articles of mass consumption, household articles, and others, as well as all
service activities.

The company may carry out in Belgium or abroad all industrial, commercial,
movable, real estate, or financial transactions that favor or expand directly or
indirectly its industry and trade.

It may acquire an interest, by any means whatsoever, in all businesses,
corporations, or enterprises with an identical, similar or related corporate
purpose or which favor the development of its enterprise, acquire raw materials
for it, or facilitate the distribution of its products.

ARTICLE THREE - REGISTERED OFFICES
----------------------------------

The registered offices are located at Molenbeek-Saint-Jean, rue Osseghem 53.

The registered offices may be transferred to any other location in Belgium by
mere decision of the board of directors.

The company may, by mere decision of the board of directors, establish
administrative offices, branches, workshops, agencies, and seats in Belgium or
elsewhere.

Any change of the registered offices is published in the Appendix of the
Official Gazette at the initiative of the board of directors.

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ARTICLE FOUR - DURATION
-----------------------

The duration of the company is unlimited.

The shareholders meeting may decide to wind up the company in compliance with
the procedure applicable for amending the articles of association.

                            PART TWO - SHARE CAPITAL

ARTICLE FIVE - CAPITAL
----------------------

The corporate share capital amounts to forty-six millions one thousand
ninety-six three hundred and fifty-two Euros (Euros 46,196,352,-).

It is divided into 92,392,704 ordinary shares, without nominal value,
representing each 1/92,392,704th of the company assets.

Multiple certificates representative of several ordinary shares may be issued.

The shareholders meeting may decide to split company shares at any time in
compliance with the procedure applicable for amending the articles of
association.

ARTICLE SIX - HISTORY
---------------------

1. The company was incorporated with an initial share capital amounting to one
hundred six millions two hundred forty-four thousand six hundred and forty
francs, represented by twenty-nine thousand eight hundred forty-four shares
without nominal value.

2. On March 22, 1962, the general meeting decided to increase the share capital
up to two hundred fifty millions francs, represented by four hundred eighty
thousand shares without nominal value, as recorded in minutes drafted by Mr.
Jacques Van Wetter, Notary in Ixelles.

The initial assets of the public company ("societe anonyme") consisted of all
the properties of a private company with limited liability of the shareholders
("societe de personnes a responsabilite limitee") converted into a public
company, as assessed on the basis of the balance sheet of the latter company as
of December 31, 1961, after distribution of the profits of the accounting year
1961.

The share capital increase was subscribed to and paid up with cash contribution
in circumstances further detailed in the minutes.

3. On May 25, 1967, the general meeting decided to increase the share capital up
to two hundred and sixty-two millions five hundred thousand francs by
incorporation of reserves or capital gains, represented by five hundred four
thousand shares without nominal value, as recorded in minutes drafted by Mr.
Jacques Van Wetter, Notary in Ixelles.

As a result of such share capital increase, twenty-four thousand new shares were
issued and allocated to existing shareholders, each holder of twenty existing
shares receiving one new share

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without issue of split share.

4. On May 22, 1969, the general meeting decided to increase the share capital up
to two hundred and seventy-five millions six hundred twenty five thousand francs
by incorporation of reserves or capital gains, represented by five hundred
twenty-nine thousand two hundred shares without nominal value, as recorded in
minutes drafted by Mr. Jacques Van Wetter, Notary in Ixelles.

As a result of such share capital increase, twenty-five thousand two hundred new
shares were issued and allocated to existing shareholders, each holder of twenty
existing shares receiving one new share without issue of split share.

5. On May 24, 1973, the general meeting decided to increase the share capital up
to two hundred and eighty-nine millions four hundred six thousand two hundred
and fifty francs by incorporation of reserves or capital gains, represented by
five hundred fifty-five thousand six hundred sixty shares without nominal value,
as recorded in minutes drafted by Mr. Andre van der Vorst, Notary in Ixelles.

As a result of such share capital increase, twenty-six thousand four hundred
sixty new shares were issued and allocated to existing shareholders, each holder
of twenty existing shares receiving one new share without issue of split share.

6. On May 26, 1977, the general meeting decided to increase the share capital
twice in the following way, as recorded in minutes drafted by Mr. Andre van der
Vorst, Notary in Ixelles:

         -        A first increase of fourteen millions four hundred seventy
                  thousand three hundred thirteen francs brought the share
                  capital to three hundred and three millions eight hundred
                  seventy-six thousand five hundred and sixty-three francs by
                  incorporation of reserves or capital gains.

                  As a result of such share capital increase, twenty-seven
                  thousand seven hundred eighty-three new shares were issued and
                  freely allocated to existing shareholders, each holder of
                  twenty existing shares receiving one new share without
                  issuance of split share.

         -        A second increase of one hundred ninety-six millions one
                  hundred twenty-three thousand four hundred thirty-seven francs
                  brought the share capital to five hundred millions by
                  incorporation of reserves or capital gains without issuance of
                  new shares.

7. On December 27, 1979, the general meeting decided, as recorded in minutes
drafted by Mr. Andre van der Vorst, Notary in Ixelles:

         -        to divide the five hundred eighty-three thousand four hundred
                  forty-three shares existing at that time by way of exchange
                  requiring the issuance of three new shares for each existing
                  share and to authorize the issuance of multiple receipts
                  evidencing several new shares;

         -        to increase the share capital by contribution in cash
                  amounting to eighty-five millions six hundred ninety-eight
                  thousand one hundred seventy-five francs, to bring it from
                  five hundred millions francs to five hundred eighty-five
                  millions six hundred ninety-eight thousand one hundred
                  seventy-five francs by way of issuance of three hundred new
                  shares without nominal value. Such shares were issued at the
                  unit price of one thousand four hundred francs and offered to
                  public subscription in circumstances further detailed in the
                  minutes;

         -        to increase the share capital a second time, in order to bring
                  it from five hundred eighty-five millions six hundred
                  ninety-eight thousand one hundred seventy-five francs to one

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                  billion francs by incorporation of a share premium amount
                  amounting to three hundred thirty-four millions three hundred
                  one thousand eight hundred twenty-five francs, by
                  incorporation of immune reserves accounts amounting to
                  fifty-six millions nine hundred thirty thousand four hundred
                  forty-six francs, and by incorporation of an available reserve
                  account amounting to twenty-three millions sixty-nine thousand
                  five hundred fifty-four francs, without issuance of new
                  shares.

8. On May 22, 1986, the general meeting decided to divide the two millions fifty
thousand three hundred twenty-nine shares without nominal value existing at that
time by way of exchange requiring the issuance of five new shares for each
existing share and to authorize the issuance of multiple receipts evidencing
several new shares, as recorded in minutes drafted by Mr. Andre van der Vorst,
Notary in Ixelles.

9. On May 27, 1992, the general meeting decided to divide the ten millions two
hundred fifty-one thousand six hundred forty-five shares without nominal value
existing at that time by way of exchange requiring the issuance of five new
shares for each existing share, as recorded in minutes drafted by Mr. Andre van
der Vorst, Notary in Ixelles.

10. As a result of the exercise of warrants detached from bonds issued by the
board of directors within the authorized share capital on May 23, 1990, the
share capital was increased up to:

         1) three hundred eighty-eight thousand francs, as recorded in
         the minutes drafted on July 27, 1992;

         2) one hundred twenty-three thousand eight hundred francs, as
         recorded in the minutes drafted on October 26, 1992;

         3) eighteen thousand francs, as recorded in the minutes drafted
         on July 23, 1993;

         4) fifty-five thousand francs, as recorded in the minutes
         drafted on January 25, 1994;

         5) eighty-three thousand francs, as recorded in the minutes
         drafted on April 25, 1994;

         6) forty-six thousand francs, as recorded in the minutes
         drafted on October 25, 1994;

         7) twenty-four thousand francs, as recorded in the minutes
         drafted on January 24, 1995;

         8) three hundred and eighty-eight thousand francs as recorded
         in the minutes drafted on July 26, 1995;

         9) one million seventy-seven thousand seven hundred francs, as
         recorded in the minutes drafted on January 25, 1996;

         10) six millions nine hundred seventy-two thousand five hundred
         francs, as recorded in the minutes drafted on April 26, 1996;

11. As a result of the exercise of warrants attached to bonds issued by the
board of directors within the authorized share capital on June 19, 1996, the
share capital was increased up to:

         1) three millions eight hundred and sixteen thousand francs, as
         recorded in the minutes drafted on June 26, 1998;

         2) six hundred and fourteen thousand francs, as recorded in the
         minutes drafted on September 24, 1998;

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         3) four hundred eighty-two thousand francs, as recorded in the
         minutes drafted on December 24, 1998;

         4) six hundred sixty thousand francs, as recorded in the
         minutes drafted on June 25, 1999;

         5) two hundred forty thousand francs, as recorded in the
         minutes drafted on September 23, 1999;

         6) one hundred eighty-six thousand francs, as recorded in the
         minutes drafted on December 24, 1999;

         7) one hundred sixty-four thousand francs, as recorded in the
         minutes drafted on June 23, 2000;

         8) one hundred thirty-two thousand francs, as recorded in the
         minutes drafted on September 25, 2000;

12. On December 15, 2000, the general meeting decided to increase the share
capital up to one billion forty-nine millions four hundred seventy-seven
thousand two hundred ninety-one coma sixty-six francs by incorporation of
reserves and to convert such share capital into twenty-six millions fifteen
thousand eight hundred sixty-two Euros and fifty Cents, as recorded in minutes
drafted by Mr. Benedikt van der Vorst, Notary in Ixelles.

13. Pursuant to the minutes drafted by the Notary Benedikt van der Vorst in
Brussels on April 25, 2001, the share capital was increased up to forty-six
millions one hundred five thousand four hundred thirty-five Euros.

14. As a result of the exercise of warrants attached to bonds issued by the
board of directors within the authorized share capital on June 19, 1996, the
share capital was increased up to two thousand two hundred Euros, as recorded in
the minutes drafted on April 25, 2001.

15. Pursuant to the minutes drafted by the Notary Benedikt van der Vorst in
Brussels on May 29, 2001, the share capital was increased up to forty-six
millions one hundred height thousand height hundred twenty-seven Euros.

16. As a result of the exercise of warrants attached to bonds issued by the
board of directors within the authorized share capital on June 19, 1996, the
share capital was increased up to eighty seven thousand five hundred and
twenty-five Euros, as recorded in the minutes drafted on June 25, 2001.

ARTICLE SEVEN - INDIVISIBILITY OF SHARES
----------------------------------------

The shares are indivisible and the company recognizes only one owner per share.

If there are joint owners of a share, the company is entitled to suspend the
exercise of the rights vested in this share until one person has been appointed
in writing by all the co-owners to exercise those rights.

The rights vested in shares, which are subject to usufruct or pledge, are
exercised respectively by the usufructuary and the owner who has pledged them,
unless an agreement to the contrary is signed by all interested parties and
notified to the company.

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ARTICLE EIGHT - MODIFICATION OF THE SHARE CAPITAL
-------------------------------------------------

The shareholders meeting may decide to increase or decrease the share capital in
one or several times in compliance with the procedure provided for by legal
provisions in force.

The board of directors determines the rate and conditions of issuance of new
shares in the event of a share capital increase.

Should the board of directors decide to issue new shares without nominal value
below the par value of the existing shares, such circumstance must be mentioned
in the notice of the shareholders meeting.

Should the share capital be increased with an issuance premium, the amount of
such premium must be fully paid up upon subscription.

Should the share capital be increased by contributions in cash, the holders of
convertible bonds or subscription rights may respectively convert their bonds or
exercise their subscription rights and possibly benefit from the issuance of new
shares as if they were shareholders, provided such benefit is granted to
existing shareholders.

The board of directors may, at its own discretion, enter into any agreement
providing for the subscription of all or part of the new shares to be issued,
safe for the application of the preemptive rights.

In case of a share capital increase, the new shares to be subscribed in cash
must be offered by preference to existing shareholders in proportion to the
number of shares that each one of them owns and in accordance with legal
provisions in force.

However, such preemptive right may be limited or withdrawn by the shareholders
meeting, acting in the interest of the company, in compliance with the procedure
provided for amending the articles of association.

In such case, a specific mention of this proposal must be made in the notice of
the meeting, and the board of directors and the statutory auditor or, in his
absence, a certified public accountant appointed by the board of directors, must
prepare the reports provided for by legal provisions in force. These reports
must be deposited at the office of the competent commercial court, referred to
in the agenda and communicated to the shareholders.

ARTICLE NINE - AUTHORIZED CAPITAL
---------------------------------

A. The board of directors is authorized to increase the share capital in one or
several times up to forty-six millions one thousand ninety-six three hundred and
fifty-two Euros (Euros 46,196,352,-) on the dates and pursuant to the terms
decided by the board of directors for a period of five years as from the date of
publication of this authorization in the Appendix of the Official Gazette.

This authorization is renewable according to the terms provided for by law.

The board is authorized to increase the capital as mentioned above, by
contributions in cash or, to the extent permitted by law, by contributions in
kind, or by incorporation of the available or unavailable reserves or the
issuance premium account. In the latter cases, such increase may

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occur with or without issuance of new shares.

The increase of the share capital may also be achieved by the issuance of
convertible bonds or subscription rights - whether or not attached to other
securities - which may cause the creation of new shares in compliance with the
legal provisions in force.

In case of a share capital increase, the board of directors is authorized to
limit or revoke, in the interest of the company, the preferential right provided
for by legal provisions in force, including to the benefit of one or more
specific persons, whether or not employees of the company or its subsidiaries.

To the extent permitted by law, the board of directors is also authorized to
increase the share capital after it has received notice of a public take-over
bid relating to the company. In such a case, the board of directors is
especially authorized to limit or revoke the preferential right of the
shareholders in favor of specific persons. Such authorization is granted to the
board of directors for a period of three years as from the date of the
extraordinary shareholders meeting of May 23, 2002. It may be renewed under the
terms and conditions provided for by law.

B. Whenever the share capital increase decided by the board of directors
involves an issuance premium, the amount of such premium is, after possible
deduction of costs, allocated to a blocked account which constitutes, together
with the share capital, the guarantee of third parties and may only be reduced
or suppressed by decision of the shareholders meeting with the quorum and
majority requirements provided for a decrease in capital, without prejudice to
the board of directors' ability to incorporate said account into the share
capital pursuant to section A above.

ARTICLE TEN - ACQUISITION, PLEDGE AND TRANSFER OF OWN SHARES
------------------------------------------------------------

The company may acquire or hold in pledge its own shares in compliance with
legal provisions in force. The board of directors is authorized to transfer
through public or private transactions the shares that the company acquired,
under conditions determined by the board of directors, without the prior
approval of the shareholders meeting, in compliance with legal provisions in
force.

On May 23, 2002, the extraordinary shareholders meeting authorized the board of
directors to acquire and transfer company's shares when such acquisition or
transfer is necessary in order to prevent serious and imminent damage to the
company. Such authorizations are granted for a period of three years as from the
date of publication of this authorization in the Appendix of the Official
Gazette.

The above-mentioned authorizations also relate to acquisitions and transfers of
shares of the company by direct subsidiaries of the company and are renewable in
compliance with legal provisions in force.

In addition, on May 23, 2002, the extraordinary shareholders meeting authorized
the board of directors to acquire company's shares up to a maximum amount of ten
per cent of the aggregate number of outstanding shares, at a minimum unit price
of one Euro (Euro 1,-) and a maximum unit price of one hundred and fifty Euros
(Euros 150,-), for a duration of eighteen months as from the date of the
extraordinary general meeting of May 23, 2002. Such authorization also relates
to the acquisition of shares of the company by one or several direct
subsidiaries of the company, as defined by legal provisions on acquisition of
shares of the mother company by subsidiaries.

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ARTICLE ELEVEN - CALLS OF FUNDS
-------------------------------

Shares that have not been fully paid up may not be transferred, unless the board
of directors has previously approved the transferee.

The board of directors may at its own discretion call funds relating to shares
that have not been not fully paid up.

If a shareholder fails to pay called funds one month after he is sent a notice
by registered mail, such shareholder will be required to pay without further
notice an interest equal to the legal interest rate as from the day of the due
date until full payment.

If a shareholder further fails to pay called funds one month after a second call
of funds, the board of directors may declare the forfeiture of such shareholder
and have his securities sold on the stock exchange, via the agency of an
investment company or a credit institution, without prejudice to the right to
claim any sum due, as well as damages and interest.

The voting rights pertaining to unpaid shares are automatically suspended so
long as called payments, duly made and claimable, have not been made.

ARTICLE TWELVE - NATURE OF THE SECURITIES
-----------------------------------------

Securities are in bearer form, unless otherwise provided for by law. Bearer
shares bear the signature of two directors at least; stamps may replace those
signatures.

They may be converted into registered securities at the request and expense of
their holder.

ARTICLE THIRTEEN - SHAREHOLDINGS DISCLOSURES
--------------------------------------------

Any person or legal entity, which owns or acquires securities of the company
granting voting right, whether representing the share capital or not, must
disclose to the company and to the Banking and Finance Commission, in compliance
with legal provisions in force, the number of securities that such person or
legal entity owns, alone or jointly with one or several other persons or legal
entities, when the voting rights attached to such securities amount to three
(3,-) per cent or more of the total of the voting rights existing when the
situation triggering the disclosure obligation occurs.

Such person or legal entity must also do so in the event of a transfer, or an
additional acquisition, of securities referred to in the preceding paragraph
when, after such transaction, the voting rights attached to securities that it
owns amount to five (5,-) per cent, ten (10,-) per cent, and so on by blocks of
five (5,-) per cent of the total of the voting rights existing when the
situation triggering the disclosure obligation occurs, or when the voting rights
attached to securities that it owns fall below one of those thresholds or below
the threshold referred to in the preceding paragraph.

Any person or legal entity which acquires or transfers, alone or jointly, the
direct or indirect control of a corporation which owns three (3,-) per cent at
least of the voting rights of the company must disclose such acquisition or
transfer to the company and to the Banking and Finance Commission in compliance
with legal provisions in force.

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Disclosure statements relating to the acquisition or transfer of securities,
which are made in compliance with this article, must be addressed to the Banking
and Finance Commission and to the board of directors of the company at the
latest the second business day after the occurrence of the triggering event. The
number of securities acquired by succession must only be disclosed thirty days
after such succession has been accepted, under the benefit of inventory as the
case may be.

Unless otherwise provided by legal provisions in force, no one will be allowed
to vote at the shareholders meeting a number of securities greater than the
number validly disclosed at the latest twenty days before such meeting, in
compliance with legal provisions in force and with these articles of
association, it being understood that a shareholder will in any event be allowed
to vote a number of securities that does not exceed three (3,-) per cent of the
total of the voting rights existing on the day of the shareholders meeting or
which is between two successive thresholds.

                    PART THREE - ADMINISTRATION AND AUDITING

ARTICLE FOURTEEN - COMPOSITION OF THE BOARD OF DIRECTORS
--------------------------------------------------------

The company is managed by a board consisting in at least three members, whether
shareholders or not, individual or legal entity, appointed for a maximum term of
six years by the shareholders meeting and at all times removable by the latter.

The director that is a legal entity notifies to the company the identity of the
individual and, as the case may be, of its substitute, appointed to represent
permanently such legal entity at the meetings of the board of directors. Without
prejudice to article 18, such individual may not be chosen among the directors
of the company

Outgoing directors may be reelected.

The term of outgoing but yet not reelected directors ceases immediately after
the shareholders meeting convened to elect their possible successor.

ARTICLE FIFTEEN - VACANCY
-------------------------

Should there be one or several vacancies among directors before the end of a
term as a result of death, resignation or any other cause, all remaining
directors are authorized to fill the vacancy temporarily.

In such case, the shareholders meeting decides on the definitive appointment at
its next meeting.

The director appointed in the aforementioned circumstances completes the term of
the director he is replacing.

ARTICLE SIXTEEN - CHAIRMANSHIP
------------------------------

The board of directors elects a chairman among its members and, as the case may
be, a vice-chairman.

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ARTICLE SEVENTEEN - MEETINGS
----------------------------

The board of directors meets when convened by its chairman and under its
chairmanship or, if the latter is unable to attend, under the chairmanship of
the vice-chairman if a vice-chairman has been elected, or under the chairmanship
of a director appointed by his peers.

The board meets every time required by the interest of the company or whenever
requested by two directors.

Meetings take place at the location indicated in the notice.

Notices of the meetings of the board of directors are properly given in writing,
by telecopy, by electronic mail or by phone.

The board meeting may be held by conference call or any other means of
communication. In such case, it is deemed to take place at the registered
offices.

In any case, the director who may not physically attend the board meeting may
participate in the deliberation by phone, videoconference or any other similar
means of communication.

In the circumstances referred to in paragraphs 5 and 6 above, the vote of the
director who was not physically present will be confirmed either by executing
the minutes of the board meeting in which he participated without being
physically present, or by telecopy addressed to the registered offices of the
company.

Notices must be made three days in advance safe in case of emergency, which must
be justified in the minutes.

In case of emergency, decisions of the board of directors may be adopted in
writing by unanimous written consent of the directors, to the extent permitted
by law.

ARTICLE EIGHTEEN - DELIBERATION
-------------------------------

The board of directors may only deliberate and resolve if half of its members at
least are present or represented.

Any director who is excused or absent may authorize one of his peers in writing,
by telegram, telecopy or any other form of written proxy to represent him at
board meetings and to vote on his behalf. In such case, the represented director
is deemed present.

However, no proxy holder may represent more than one director at a time.

Decisions of the board of directors are adopted by majority vote.

In case of equality of vote casts, the vote of the chairman of the meeting will
prevail.

In case of conflict of interests, the directors will comply with legal
provisions in force.

If, during a board meeting complying with the quorum requirement set forth
above, one or more present or represented directors must abstain as a result of
the preceding paragraph, resolutions

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are validly adopted by a majority vote of the other present or represented
directors.

ARTICLE NINETEEN - MINUTES
--------------------------

The deliberations of the board of directors are recorded in minutes signed by a
majority of directors participating in the meeting.

Such minutes are recorded in a special register.

Proxies are attached thereto.

Extracts and copies under private seal of such minutes, to be submitted to a
court or elsewhere, are signed by one director or by a member of the management
referred to in article 22.

ARTICLE TWENTY - POWERS OF THE BOARD
------------------------------------

The board of directors is vested with the broadest powers to accomplish all
necessary or useful acts in order to achieve the corporate purpose of the
company.

It is empowered to carry out any act that is not reserved by law to the
shareholders meeting.

It is notably empowered to conclude any loan by means of credit or otherwise,
even by issuance of bonds, provided that they are neither convertible nor with a
subscription right attached, unless expressly authorized to do so by the
shareholders meeting in compliance with legal provisions in force.

ARTICLE TWENTY-ONE - DELEGATION OF POWER
----------------------------------------

The board of directors may entrust the day-to-day management of the company and
the representation relating to such management, including the hiring, dismissal
and determination of wage of staff members, to one or several directors, whether
they bear the title of managing director or not, or to one or several members of
the management, whether chosen among the directors or not, who may be granted
variable or invariable fees to be charged on the general expenses of the
company.

Such fees, as well as all other terms, notably any severance pay, must be
provided for in a special contract approved by the board of directors, all
directors in charge of a permanent position in the company abstaining.

Nonetheless, the board of directors approves the hiring, appointment and
dismissal of company officers in charge of the corporate and financial policy of
the company, on proposal of the person(s) in charge of the day-to-day
management, if any.

The board, or within the day-to-day management, a person in charge of the
day-to-day management, are each authorized to grant authority to certain
directors or other individuals for specific purposes. The proxy holder binds the
company within the limits of his or her proxy.

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ARTICLE TWENTY-TWO - REPRESENTATION OF THE COMPANY
--------------------------------------------------

Towards third parties and before a court, the company is represented by two
directors acting jointly, or by one director acting jointly with one of the
members of the management of the company appointed for such purpose by the board
of directors. The board of directors ensures that the identity of the members of
the management entitled to represent the company jointly with one director is
published in the Appendix of the Official Gazette.

ARTICLE TWENTY-THREE - OTHER POSITION
-------------------------------------

Managing directors or members of the management may not accept another managing
or administrative position, whether remunerated or not, from any other entity or
company, unless especially authorized by the board of directors.

A director or officer may consider a position of director for another company
only to the extent that such position will not affect his duties for the benefit
of the company, which must remain effective and permanent at all times.

ARTICLE TWENTY-FOUR - OTHER REMUNERATED POSITIONS
-------------------------------------------------

Should a director or any other representative of the company be commissioned in
order to represent the company with another entity or company, the pays and
advantages relating to such position lead to a proportional reduction of his
wages.

ARTICLE TWENTY-FIVE - AUDITING
------------------------------

Control over the company must be entrusted to one or more auditors. They are
appointed for a renewable term of three years and may be removed by a
shareholders meeting.

Auditors are chosen among the members, whether individuals or legal entities, of
the Company Auditors Institute (Institut des Reviseurs d'Entreprises).

The shareholders meeting determines the number of auditors and their
remuneration.

If there are no auditors or if all auditors are unable to perform their duties,
the board of directors immediately convenes a shareholders meeting in order to
have new auditors appointed.

ARTICLE TWENTY-SIX - DUTIES OF AUDITORS
---------------------------------------

Auditors have jointly or individually an unlimited right to audit the financial
situation and the balance sheet, and to control whether the operations recorded
in the annual accounts are in compliance with legal provisions in force and the
articles of association. They are entitled to be granted at any time access to
the records, correspondence, minutes and, generally, all the books and documents
of the company.

Every six months at least, directors must provide them with financial statements
prepared in compliance with the scheme required for balance sheets and profit
and loss accounts.

Auditors must prepare a detailed and written report containing all indications
required by law to the

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attention of the ordinary shareholders meeting.

Employees or other persons for whom they are responsible may assist auditors at
their own expense.

ARTICLE TWENTY-SEVEN - LIABILITY
--------------------------------

Directors and auditors have no personal liability relating to company
commitments.

They are responsible with respect to their office and to any errors committed in
the course of their duty in compliance with legal provisions in force.

ARTICLE TWENTY-EIGHT - INDEMNITY
--------------------------------

The shareholders meeting may grant directors fixed or proportional fees to be
charged on general expenses.

Auditors' remuneration consists in a fixed sum determined by the shareholders
meeting at the time of appointment.

Such remuneration may only be modified by unanimous consent of all parties.

                        PART FOUR - SHAREHOLDERS MEETINGS

ARTICLE TWENTY-NINE - COMPOSITION AND POWERS
--------------------------------------------

The shareholder meeting, when regularly constituted, represents all the
shareholders of the company.

It is empowered to carry out or ratify all acts performed in the interest of the
company.

It consists in holders of ordinary shares who are entitled to vote either in
person or by proxy in compliance with legal provisions in force.

Decisions adopted by the shareholders meeting are binding upon all shareholders,
including those who were absent or dissident.

ARTICLE THIRTY - MEETING
------------------------

The ordinary shareholders meeting automatically takes place on the fourth
Thursday of May at 3:00 p.m.

If that date is not a business day, the meeting takes place on the preceding or
following business day.

An extraordinary or special meeting may be convened each time it is in the
company's interest. It must be convened at the request of shareholders holding
together one fifth of the share capital.

                                       13

<PAGE>

In the latter case, the shareholders indicate in their request the items to be
included in the agenda, and the board of directors or the auditors must convene
a shareholders meeting within six weeks as from the request.

Shareholders meetings will take place in one of the districts of the city of
Brussels at the location indicated in the notice.

ARTICLE THIRTY-ONE - NOTICE
---------------------------

The shareholders meeting is held on notice of the board of directors or the
auditors.

The notice contains the agenda and complies with the formal requirements and the
timing imposed by legal provisions in force. Notices of shareholders meetings
decided by the board of directors may validly be signed on its behalf by one of
the persons in charge of the day-to-day management.

The notices of the ordinary shareholders meetings must include the following
agenda items: discussion on the management and auditors reports, discussion on
the annual accounts, discharge of liability of directors and auditors,
re-election and replacement of outgoing or missing directors and auditors.

ARTICLE THIRTY-TWO - ATTENDANCE NOTICE AND DEPOSIT OF SECURITIES
----------------------------------------------------------------

In order to be admitted to shareholders meeting, holders of registered
securities must notify their intent to exercise their rights at the meeting to
the board of directors no later than four business days prior to such meeting.

Holders of bearer securities must deposit their securities at the registered
offices of the company within the same timeframe. Unless the body convening the
shareholders meeting decides otherwise and indicates so in the notice, the
deposit of securities at the registered offices may be replaced by the
communication to the company, within the same timeframe, of a certificate of one
of the financial institutions indicated in the notice, which certifies the
blocking of the shares until, and including, the date of the shareholders
meeting.

The holders of bonds may attend the meeting with consultative vote if they have
deposited their securities in accordance with this article.

ARTICLE THIRTY-THREE - REPRESENTATION
-------------------------------------

All holders of securities entitled to vote may be represented by a proxy holder
at the shareholders meeting.

However, under age persons, certified persons, civil companies and commercial
companies may be represented by their legal or statutory bodies that, in turn,
may be represented by a proxy holder. Spouses are entitled to represent each
other.

The board of directors may approve the form of the proxies. They must be
deposited at the location indicated in the notice no later than four business
days before the meeting. Proxies may also be sent by telecopy at the number
indicated in the notice, no later than four business days before the meeting,
provided that the executed original of such proxies be handed over to the office
of the shareholders meeting at the latest at the beginning of such meeting.
Failing that, the company will

                                       14
<PAGE>

not acknowledge the powers of the proxy holder.

ARTICLE THIRTY-FOUR - OFFICE
----------------------------

All shareholders meetings are chaired by the chairman of the board of directors
or, should he not attend, by the vice-chairman if a vice-chairman has been
elected, or by a managing director or, in absence of the latter, by the eldest
accepting attending director.

The chairman appoints the secretary.

The meeting appoints two observers.

The attending directors complete the office.

ARTICLE THIRTY-FIVE - ADJOURNMENT
---------------------------------

The board of directors is allowed to adjourn any ordinary or other shareholders
meeting in the course of such meeting. The decision of the board of directors
must not be motivated.

The decision to adjourn a meeting cancels all decisions taken and the
shareholders are reconvened within three weeks with the same agenda.

Formalities accomplished in compliance with article 32 in order to attend the
first shareholders meeting remain valid for the second meeting. In addition, new
deposits of bearer securities and new communications of blocking certificates of
bearer securities, as well as new attendance notices made by registered
shareholders, are allowed for the purpose of the second meeting within the
timeframe provided by these articles of association.

ARTICLE THIRTY-SIX - NUMBER OF VOTES
------------------------------------

Each share entitles its holder to one vote.

ARTICLE THIRTY-SEVEN - VOTES
----------------------------

The meeting may not vote on items that were not mentioned on the agenda.

Unless otherwise provided by legal provisions in force, decisions are adopted by
a majority vote, irrespective of the number of securities present or represented
at the meeting.

With respect to the appointment of directors or auditors, if no candidate is
elected by a majority vote, a second ballot is organized between the two
candidates who obtained the highest number of votes. In case of a tie in the
second ballot, the eldest candidate is elected.

Votes are expressed by raising hands or by calling names, unless otherwise
decided by the majority of the shareholders.

An attendance list, that indicates the name of each shareholder and the number
of securities it owns, is signed by each shareholder or its proxy holder before
the meeting starts.

                                       15
<PAGE>

ARTICLE THIRTY-EIGHT - MINUTES
------------------------------

The minutes of shareholders meetings are signed by the officers of the meeting
and by any shareholders asking to do so.

Extract and copies under private seal of such minutes to be produced in court or
elsewhere must be signed by one director.

            PART FIVE - INVENTORY AND ANNUAL ACCOUNTS - DISTRIBUTION

ARTICLE THIRTY-NINE - INVENTORY AND ANNUAL ACCOUNTS
---------------------------------------------------

The accounting year of the company begins on the first day of January and ends
on the thirty-first day of December.

On the thirty-first day of December of each year, the directors prepare the
annual accounts, an inventory and a management report in compliance with the
legal provisions in force.

Shareholders may review the following documents at the registered offices
fifteen days prior to the ordinary shareholders meeting :

         1.       the annual accounts;

         2.       the list of government funds, shares, bonds, and other
                  securities included in the portfolio;

         3.       the list of shareholders who have not paid up their shares,
                  with the number of shares they own and their address;

         4.       the management report and the auditors report.

The annual accounts and the management and auditors reports are addressed to
registered shareholders with the notice.

Fifteen days before the meeting, all shareholders are entitled to obtain a copy
of the documents mentioned above free of charge upon production of their
security.

ARTICLE FORTY - VOTE ON ANNUAL ACCOUNTS
---------------------------------------

The ordinary shareholders meeting hears the management report and auditors
report and discusses the annual accounts.

Directors answer the questions asked by shareholders with respect to their
report or other items on the agenda.

                                       16
<PAGE>

Auditors answer the questions asked by shareholders with respect to their
report.

The ordinary shareholders meeting votes on the adoption of the annual accounts.

After adoption of the annual accounts, the meetings votes separately on the
discharge of liability of directors and auditors.

Such discharge is valid only to the extent that the annual accounts contain
neither omission, nor false indication concealing the company's genuine
situation and, with respect to actions taken in breach of the articles of
association, only if they have been especially indicated in the notice.

The management report, auditors report, annual accounts and all documents
provided for in legal provisions in force are deposited by the board of
directors at the National Bank of Belgium thirty days after they have been
approved by the shareholders meeting.

ARTICLE FORTY-ONE - DISTRIBUTION
--------------------------------

Five per cent at least of the net profit is transferred to a legal reserve fund.
When the accumulated legal reserve fund is equal to one tenth of the capital of
the company, it is no longer compulsory to transfer further profit to the said
reserve.

On proposal of the board of directors, the shareholders meeting may decide to
transfer sums determined by the latter to the creation of, or the increase in,
reserve funds or to a carried forward account or decide on a levy on available
reserves or on the carried forward account from previous years.

The balance is distributed up to ninety-seven and a half percent "prorata
temporis et liberationis" as dividends among all shares representing the share
capital and up to two and one half percent among directors who share this amount
pursuant to their agreement.

ARTICLE FORTY-TWO - PAYMENT OF DIVIDENDS
----------------------------------------

Dividends are paid out annually at the places and on the dates determined by the
board of directors.

The board of directors may decide under its own responsibility to pay interim
dividends to be charged on the profit of the current fiscal year and determine
the date of their payment, in compliance with legal provisions in force.

                      PART SIX - DISSOLUTION - LIQUIDATION

ARTICLE FORTY-THREE - LIQUIDATION
---------------------------------

The company may be wound up anticipatively at any time by a shareholders
meeting, voting as provided for amending the articles of association.

If, as a result of losses, the company's net assets amount to less than one half
of the share capital, a shareholders meeting must be convened no later than two
months as from the day the losses

                                       17

<PAGE>

were noticed or should have been noticed pursuant to legal or statutory duties.
Such meeting must vote in compliance with the procedure provided for amending
the articles of association on a possible liquidation of the company and on
other measures announced in the agenda.

The board of directors duly justifies its proposals in a special report
available to shareholders at the registered offices of the company fifteen days
before the meeting.

If, as a result of losses, the company's net assets amount to less than one
fourth of the share capital, the liquidation takes place if it is approved of by
one fourth of the votes cast during the shareholders meeting.

When the net assets amount to less than the legal minimum share capital, any
interested party may seize a court and request the liquidation of the company.

ARTICLE FORTY-FOUR - WINDING-UP
-------------------------------

Should the company be wound-up, what ever the cause or the time may be, the
liquidation is carried out by liquidators appointed by the shareholders meeting
or, failing such appointment, by the board of directors in charge at that time
acting as a liquidation comity.

To this end, it benefits from the broadest possible powers under legal
provisions in force.

The shareholders meeting determines the liquidators' remuneration.

During the liquidation process of the company, auditors benefit from the same
powers vis-a-vis the liquidator(s) as those they have vis-a-vis the board of
directors under legal provisions in force.

ARTICLE FORTY-FIVE - SHARING AMONG SHAREHOLDERS
-----------------------------------------------

If all share are not equally paid-up, the liquidators take such disparity into
account before sharing the net assets and reestablish a balance by treating all
shares on an equal basis either by calling upon shareholders additional funds or
by reimbursing first the shares that have been paid up in a greater portion in
cash.

The balance is distributed equally among all shares.

                         PART SEVEN - GENERAL PROVISIONS

ARTICLE FORTY-SIX - ELECTION OF DOMICILE
----------------------------------------

With respect to the enforcement of these articles of association, any registered
shareholder domiciled in a foreign country, unless it has elected domicile in
Belgium, any member of the management, any auditor and any liquidator hereby
elects domicile at the registered offices of the company where all
communications and notices may be made or summons served.

                                       18

<PAGE>

ARTICLE FORTY-SEVEN - GENERAL LAW
---------------------------------

Parties agree to comply with legal provisions in force.

As a result, unless otherwise validly provided, all public policy provisions of
law are deemed to be set forth in these articles of association and all
provisions of these articles of association conflicting with such provisions of
law are deemed not to exist.

PROVISIONAL MEASURE
-------------------

Securities qualifying as "parts sociales" at the time of issuance by the company
must from now on be characterized as "actions". The corporate rights attached
thereto will not be modified.

A Director,

A Director,

                                       19<PAGE>

                                                                     EXHIBIT 4.3

                    DELHAIZE GROUP 2002 STOCK INCENTIVE PLAN

                            (EFFECTIVE MAY 23, 2002)

<PAGE>

                    DELHAIZE GROUP 2002 STOCK INCENTIVE PLAN

1.  Purpose.
    -------

         The purpose of the Delhaize Group 2002 Stock Incentive Plan (the
"Plan") is to enhance the ability of Etablissements Delhaize Freres et Cie "Le
Lion" S.A. ("Parent"), Delhaize America, Inc. ("DZA") and their respective
subsidiaries to attract and retain officers, employees, directors and
consultants of outstanding ability and to provide selected officers, employees,
directors, consultants and individuals who have accepted an offer of employment
from any of these entities with an interest in Parent parallel to that of
Parent's stockholders.

2.  Definitions.
    -----------

         For purposes of the Plan:

    2.1. "Agreement" means the written agreement between Parent and a
Participant evidencing the grant of an Option and setting forth the terms and
conditions thereof.

    2.2. "Assumed Incentive Stock Option" means any Assumed Option that
qualifies as an Incentive Stock Option.

    2.3. "Assumed Option" means any Option granted under a Prior Plan that is
assumed by Parent under this Plan. An Assumed Option may be a Nonqualified
Option, an Incentive Stock Option or a Reload Option.

    2.4. "Board" means the Board of Directors of Parent.

    2.5. "Change in Capitalization" means any increase or reduction in the
number of Shares, or any change (including, but not limited to, a change in
value) in the Shares or exchange of Shares for a different number or kind of
shares or other securities of Parent or another corporation, by reason of a
reclassification, recapitalization, merger, consolidation, reorganization,
reincorporation, spin-off, split-up, issuance of warrants or rights or
debentures, stock dividend, stock split or reverse stock split, cash dividend,
property dividend, combination or exchange of shares, repurchase of shares,
change in corporate structure, takeover bid, reduction of capital, sale of
substantial assets, capital increase by contribution in kind or by incorporation
of reserves, issuance of convertible bonds, issuance of subscription rights, and
changes in the provisions of Parent's Articles of Association relating to
repartition of benefits, or otherwise.

<PAGE>

    2.6. "Change in Control" means

        (a) an acquisition or series of acquisitions (other than directly from
    Parent) by a Person or a group of Persons acting in concert (excluding
    Parent, an employee benefit plan of Parent or any Subsidiary or an entity
    controlled by Parent's stockholders) of twenty-five percent (25%) of the
    common stock or voting securities of Parent;

        (b) at any time during the term of this Plan there is a change in the
    composition of the Board resulting in a majority of the directors who are in
    office on the date hereof ("Incumbent Directors") no longer constituting a
    majority of the directors of Parent; provided that, in making such
    determination, persons who are elected to serve as directors of Parent and
    who are proposed by all of the directors in office who are present or
    represented at the meeting at which such proposal is voted on (other than in
    connection with an actual or threatened proxy contest) shall be treated as
    Incumbent Directors;

        (c) consummation of a merger, consolidation or sale of all or
    substantially all of Parent's assets (in each case, a "Business
    Combination") other than a Business Combination in which all or
    substantially all of the holders of voting securities of Parent receive
    sixty percent (60%) or more of the voting securities of the company or
    entity resulting from the Business Combination ("Resulting Company"), of
    which at least a majority of the board of directors of the Resulting Company
    were Incumbent Directors, and after which no person or entity beneficially
    owns twenty-five percent (25%) or more of the voting securities of the
    Resulting Company, who did not beneficially own such stock immediately
    before the Business Combination;

        (d) stockholder approval of a complete liquidation or dissolution of
    Parent, other than in connection with a transaction described in Section
    2.6(c);

        (e) a direct or indirect sale or transfer of the voting securities of
    DZA following which one or more persons (other than Parent) beneficially own
    fifty percent (50%) or more of the voting power of DZA; and

        (f) a sale of all or substantially all of DZA's assets or the
    liquidation or dissolution of DZA.

    Notwithstanding the foregoing, provisions (e) and (f) of this definition
shall not apply to any Participant hereunder who is not either an employee or
partially paid by DZA unless the Committee shall determine otherwise.

    2.7. "Code" means the Internal Revenue Code of 1986, as amended.

                                       2
<PAGE>

    2.8. "Committee" means the Board or a committee authorized by the Board from
time to time to administer the Plan and to perform the functions set forth
herein.

    2.9. "Company" means, as the context requires, any of Parent, DZA or any
Subsidiary, either alone or collectively.

    2.10. "Director" means a director of Parent.

    2.11. "Disability" means:

        (a) in the case of a Participant whose employment with the Company is
    subject to the terms of an employment agreement between such Participant and
    the Company, which employment agreement includes a definition of
    "Disability," the term "Disability" as used in this Plan or any Agreement
    shall have the meaning set forth in such employment agreement during the
    period that such employment agreement remains in effect; and

        (b) in all other cases, the term "Disability" as used in this Plan or
    any Agreement shall mean a physical or mental infirmity which impairs the
    Participant's ability to perform substantially his or her duties for a
    period of one hundred eighty (180) consecutive days.

    2.12. "DZA" means Delhaize America, Inc., a North Carolina Corporation.

    2.13. "DZA Subsidiary" means an indirect Subsidiary of Parent that is also a
direct or indirect subsidiary of DZA.

    2.14. "Effective Date" means the date the Plan is approved by the
stockholders of Parent pursuant to Section 12.3.

    2.15. "Eligible Individual" means any director, officer, consultant or
employee of Parent or any Subsidiary, or any individual who has accepted an
offer of employment from any of these entities, designated by the Committee as
eligible to receive Options subject to the conditions set forth herein;
provided, however, that Incentive Stock Options may only be awarded to employees
of Parent or a Subsidiary.

    2.16. "Exchange Act" means the Securities Exchange Act of 1934, as amended.

    2.17. "Fair Market Value" on any date means the closing sales price of the
Shares on such date on the principal national securities exchange on which such
Shares are listed or admitted to trading, or, if such Shares are not so listed
or admitted to trading, the average of the per Share closing bid price and per
Share closing asked price on such date as quoted on the National Association of
Securities Dealers Automated Quotation System or such other market on which such
prices are regularly quoted, or, if there have been no published bid or asked
quotations with respect to Shares on such date, the Fair

                                       3
<PAGE>

Market Value shall be the value established by the Board in good faith and, in
the case of an Incentive Stock Option, in accordance with Section 422 of the
Code.

    2.18. "Incentive Stock Option" means an Option satisfying the requirements
of Section 422 of the Code and designated by the Committee as an Incentive Stock
Option.

    2.19. "Nominee" means that entity that is empowered by this Plan and the
Participants hereunder to act in the name and for the account of Participants
with respect to the exercise of Options and the issuance of new shares of common
stock of Parent.

    2.20. "Nonqualified Stock Option" means an Option that is not an Incentive
Stock Option.

    2.21. "Option" means a Nonqualified Stock Option, an Incentive Stock Option,
a Reload Option, an Assumed Option or any or all of them.

    2.22. "Parent" means any corporation that is a parent corporation (within
the meaning of Section 424(e) of the Code), and as of the Effective Date,
specifically means Etablissements Delhaize Freres et Cie "Le Lion" S.A., a
company organized under the laws of the Kingdom of Belgium, or any successor
thereto.

    2.23. "Participant" means an Eligible Individual who has been granted an
Option under the Plan.

    2.24. "Person" means any individual, partnership, joint venture,
corporation, limited partnership, limited liability company, trust, estate,
unincorporated organization, association, or other entity.

    2.25. "Plan" means this Delhaize Group 2002 Stock Incentive Plan, as amended
and restated from time to time.

    2.26. "Prior Plan" means any of the following plans under which Assumed
Options have been granted: Delhaize America, Inc. Amended 2000 Stock Incentive
Plan, 1996 Employee Stock Incentive Plan of Food Lion, Inc., or any of the stock
incentive plans of Hannaford Bros. Co. prior to July 30, 2000.

    2.27. "Reload Option" means a Nonqualified Stock Option that may be granted
when a Participant purchases Shares by having previously owned Shares equal in
value to the purchase price set off against the number of Shares being
purchased.

    2.28. "Securities Act" means the Securities Act of 1933, as amended.

    2.29. "Shares" means the American Depositary Shares of Parent, as evidenced
by American Depositary Receipts.

                                       4

<PAGE>

    2.30. "Subscription Price" means an amount equal to the Fair Market Value of
a Share on the date of a Participant's exercise of an Option in whole or in
part.

    2.31. "Subsidiary" means any corporation that is a subsidiary corporation
(within the meaning of Section 424(f) of the Code) with respect to Parent,
including any limited liability company or other entity that is disregarded for
federal tax purposes or treated as a corporate subsidiary under the Code.

    2.32. "Taxable Event" means any event in connection with the receipt of
Shares or cash hereunder with respect to which a Participant recognizes taxable
income.

    2.33. "Ten-Percent Stockholder" means an Eligible Individual, who, at the
time an Incentive Stock Option is to be granted to him or her, owns (within the
meaning of Section 422(b)(6) of the Code) stock possessing more than ten percent
(10%) of the total combined voting power of all classes of stock of Parent or a
Subsidiary.

    2.34. "Withholding Taxes" means the employer's minimum statutory withholding
(based on minimum statutory withholding rates for federal and state tax
purposes, including payroll taxes, that are applicable to a Taxable Event).

3.  Administration.
    --------------

    3.1. The entire Board may comprise the Committee or the Board may delegate
administration of the Plan to a Committee or Committees designated by it;
provided, however, that only the Board has the authority to grant any Options
hereunder. The term "Committee" shall apply to any person or persons to whom
such authority has been delegated. Furthermore, unless one or more Committees
have been designated by the Board, any reference to the Committee in the Plan
shall mean the Board. If administration is delegated to a Committee, the
Committee shall have, in connection with the administration of the Plan, the
powers theretofore possessed by the Board, including the power to delegate to a
subcommittee any of the administrative powers the Committee is authorized to
exercise (and references in this Plan to the Board shall thereafter be to the
Committee or subcommittee), subject, however, to such resolutions, not
inconsistent with the provisions of the Plan, as may be adopted from time to
time by the Board. The Board may abolish the Committee at any time and reassume
the administration of the Plan. No member of the Committee shall be liable for
any action, failure to act, determination or interpretation made in good faith
with respect to this Plan or any transaction hereunder, except for liability
arising from his or her own willful misfeasance, gross negligence or reckless
disregard of his or her duties. Parent hereby agrees to indemnify each member of
the Committee for all costs and expenses and, to the extent permitted by
applicable law, any liability incurred in connection with defending against,
responding to, negotiating for the settlement of or otherwise dealing with any
claim, cause of action or dispute of any kind arising in connection with any
actions in administering this Plan or in authorizing or denying authorization to
any transaction hereunder.

                                       5
<PAGE>

    3.2. Subject to the express terms and conditions set forth herein, the
Committee shall have the power from time to time to:

        (a) recommend to the Board those Eligible Individuals to whom Options
    shall be granted under the Plan and the number of such Options to be granted
    and to prescribe the terms and conditions (which need not be identical) of
    each such Option, including the purchase price per Share subject to each
    Option, and make any amendment or modification to any Option Agreement
    consistent with the terms of the Plan;

        (b) construe and interpret the Plan and Options granted hereunder and to
    establish, amend and revoke rules and regulations for the administration of
    the Plan, including, but not limited to, correcting any defect or supplying
    any omission, or reconciling any inconsistency in the Plan or in any
    Agreement, in the manner and to the extent it shall deem necessary or
    advisable so that the Plan complies with applicable law and the Code to the
    extent applicable, and otherwise to make the Plan fully effective. All
    decisions and determinations by the Committee in good faith in the exercise
    of this power shall be final, binding and conclusive upon Parent, DZA, all
    Subsidiaries, the Participants, and all other persons having any interest
    therein;

        (c) determine the duration and purposes for leaves of absence which may
    be granted to a Participant on an individual basis without constituting a
    termination of employment or service for purposes of the Plan;

        (d) exercise its discretion with respect to the powers and rights
    granted to it as set forth in the Plan;

        (e) except to the extent prohibited by applicable law or the applicable
    rules of a stock exchange, the Committee may allocate all or any part of its
    responsibilities and powers to any one or more of its members and may
    delegate all or any part of its responsibilities and powers to any person or
    persons selected by it, which allocation or delegation may be revoked by the
    Committee at any time;

        (f) generally, to exercise such powers and to perform such acts as are
    deemed necessary or advisable to promote the best interests of the Company
    with respect to the Plan; and

        (g) appoint the Nominee.

4.  Stock Subject to the Plan.
    -------------------------

    4.1. An aggregate of 8,000,000 Shares may be issued pursuant to all
Incentive Stock Options covered by this Plan (including Assumed Incentive Stock
Options). The

                                       6
<PAGE>

Board, in its sole discretion, shall determine the number of Shares that may be
issued pursuant to Nonqualified Stock Options.

    In the event of a Change in Capitalization, and, if applicable, a Change in
Control, the Board or Committee shall conclusively determine the appropriate
adjustments, if any, to (i) the maximum number of Shares which may be granted
pursuant to Incentive Stock Options and (ii) the number of Shares or other stock
or securities which are subject to outstanding Options, and the purchase price
thereof. Further, any such adjustment to outstanding Options shall comply, to
the extent necessary, with Belgian law, and shall be made in such manner as not
to constitute a modification of as defined by FASB Interpretation 44.

    4.2. In connection with the grant of an Incentive Stock Option, the number
of Shares available for grant under the Plan that may be subject to Incentive
Stock Options shall be reduced by the number of Shares in respect of which the
Incentive Stock Option is granted. As of the Effective Date, the number of
Shares that are available for grant pursuant to Incentive Stock Options shall be
8,000,000 minus the number of Shares covered by Assumed Incentive Stock Options.
Whenever any portion of an Incentive Stock Option covered by this Plan is
forfeited or cancelled, the number of Shares covered by the forfeited or
cancelled portion shall be counted again for purposes of determining the maximum
number of Shares available for grant pursuant to Incentive Stock Options.

5.  Option Terms.
    ------------

    5.1. Authority of Committee. Subject to the provisions of the Plan, the
Committee, or the persons to whom authority has been delegated under Paragraph
(f) of Section 3.2 hereof, shall have full and final authority to select those
Eligible Individuals who will receive Options, and the terms and conditions that
shall be set forth in the applicable Agreements. Some terms and conditions that
may, but are not required to be included are: a provision allowing the issuance
of a Reload Option and a provision providing acceleration of exercisability
under certain conditions as may be determined by the Committee. Other terms and
conditions not inconsistent with this Plan may be included in Agreements in the
discretion of the Committee.

    5.2. Option Structure. Each Option granted hereunder (except for Reload
Options and as provided in the next sentence of this Section 5.2) shall qualify
as a subscription right ("warrant") under Belgian law, and shall provide the
holder thereof the right to subscribe to a number of new shares of common stock
of Parent equal to the number of Shares represented by the Option in accordance
with the terms of the Agreement and this Plan. Notwithstanding the foregoing or
any other provision of this Plan or any outstanding Agreement, if due to Belgian
law, or upon any circumstance the Committee finds appropriate, it is determined
that additional warrants should not or may not be granted, or existing warrants
should not or may not be exercised, any outstanding or additional Options to be
granted shall qualify as "options" on existing Shares under Belgian law. Each
Reload Option shall qualify as an "option" under Belgian law and

                                       7

<PAGE>

shall provide the holder thereof the right to purchase from Parent the number of
Shares represented by the Reload Option in accordance with its terms and the
terms of this Plan.

    5.3. Option Documentation. Upon grant of an Option or thereafter, the
Participant shall sign such documentation as may be required by the Committee.
Such documentation may include, among other documents, the Agreement and a
proxy/loan document that will permit the Participant to delegate to the Nominee
the authority to act in the name and for the account of the Participant upon the
exercise of the Option. No Option may be exercised unless the Participant has
signed all the documentation required by the Committee.

    5.4. Purchase Price. The purchase price or the manner in which the purchase
price is to be determined for Shares under each Option shall be determined by
the Committee and set forth in the Agreement; provided, however, that the
purchase price per Share under each Option shall not be less than 100% of the
Fair Market Value of a Share on the date the Option is granted (110% in the case
of an Incentive Stock Option granted to a Ten-Percent Stockholder).

    5.5. Maximum Duration. Options granted hereunder shall be for such term as
the Committee shall determine, provided that an Incentive Stock Option shall not
be exercisable after the expiration of ten (10) years from the date it is
granted (five (5) years in the case of an Incentive Stock Option granted to a
Ten-Percent Stockholder) and a Nonqualified Stock Option shall not be
exercisable after the expiration of ten (10) years from the date it is granted.
The Committee may, subsequent to the granting of any Option, extend the term
thereof, but in no event shall the term as so extended exceed the maximum term
provided for in the preceding sentence.

    5.6. Vesting. Each Option shall become exercisable in such installments
(which need not be equal) and at such times as may be designated by the
Committee and set forth in the Agreement. To the extent not exercised,
installments shall accumulate and be exercisable, in whole or in part, at any
time after becoming exercisable, but not later than the date the Option expires.
The Committee may accelerate the vesting and exercisability of any Option or
portion thereof at any time.

    5.7. Modification. No modification of an Option shall adversely alter or
impair any rights or obligations under the Option without the Participant's
consent.

    5.8. Non-Transferability. No Option shall be transferable by the Participant
other than by will or by the laws of descent and distribution, and an Option
shall be exercisable during the lifetime of such Participant only by the
Participant or his or her guardian or legal representative. The terms of an
Option shall be final, binding and conclusive upon the beneficiaries, executors,
administrators, heirs and successors of the Participant.

                                       8

<PAGE>

    5.9. Method of Exercise. The exercise of an Option shall be made pursuant to
notice procedures established by the Board. Any such notice shall specify the
number of Shares to be purchased and accompanied by payment therefor and
otherwise in accordance with the Agreement pursuant to which the Option was
granted. The purchase price of the Option may be paid by (i) cash, certified
check or bank check, (ii) attestation of ownership of Shares held by the
Participant for at least six (6) months prior to exercise (or such longer or
shorter period as may be required to avoid a charge to earnings for financial
accounting purposes), if so permitted by Parent, (iii) through a "same day sale"
commitment from Participant and a broker-dealer selected by Parent that is a
member of the National Association of Securities Dealers (an "NASD Dealer")
whereby the Participant irrevocably elects to exercise the Option and to sell a
portion of the Shares so purchased sufficient to pay for the total exercise
price and whereby the NASD Dealer irrevocably commits upon receipt of such
Shares to forward the total exercise price directly to Parent, or (iv) by any
combination of the foregoing, and, in all instances, to the extent permitted by
applicable law. Any Shares to be transferred to Parent (or withheld upon
exercise) as payment of the purchase price under an Option shall be valued at
their Fair Market Value on the date of exercise of such Option. No fractional
Shares (or cash in lieu thereof) shall be issued upon exercise of an Option and
the number of Shares that may be purchased upon exercise shall be rounded to the
nearest number of whole Shares.

    5.10. Rights of Participants. A Participant shall not be deemed for any
purpose to be the owner of any Shares subject to any Option unless and until the
Option shall have been exercised pursuant to the terms of the Agreement.
Thereupon, the Participant shall have voting, dividend and other ownership
rights with respect to such Shares, subject to such terms and conditions as may
be set forth in the applicable Agreement and further subject to the terms and
conditions of any deposit agreement between Parent and its depositary.

    5.11. Incentive Stock Options. An Option shall be treated as an Incentive
Stock Option only to the extent that the aggregate Fair Market Value (determined
at the time the Option is granted) of the Shares with respect to which all
Incentive Stock Options held by a Participant (under the Plan and all other
plans of Parent, DZA or any Subsidiary), become exercisable for the first time
during any calendar year does not exceed $100,000. This limitation shall be
applied by taking Options into account in the order in which they were granted.
To the extent this limitation is exceeded, an Option shall be treated as a
Nonqualified Stock Option regardless of its designation as an Incentive Stock
Option. Should any Incentive Stock Option remain exercisable after three months
after employment terminates for any reason other than Disability or death, or
after one year if employment terminates due to Disability, the Option shall
immediately be converted to a Nonqualified Stock Option. In order to obtain the
benefits of an Incentive Stock Option under the Code, no sale or other
disposition may be made of any Shares upon exercise of such Option until the
later of one year from the date of transfer of the Shares acquired pursuant to
the exercise of the Option, or two years from the grant date of the Option. The
Company shall have no liability in the event it is determined that any Option

                                       9

<PAGE>

intended to be an Incentive Stock Option fails to qualify as such, whether such
failure is a result of a disqualifying disposition or the terms of this Plan or
any governing Agreement.

    5.12. Assumed Options. Assumed Options shall be subject to the same vesting
and termination provisions and in general subject to the same terms and
conditions of their respective Agreements. The Agreements for Assumed Options
shall, however, be modified to permit exercise in accordance with the procedures
established for the Plan, and, with the consent of the Participant, may be
modified to further conform with the Plan.

    5.13. Effect of a Termination of Employment. The Agreement evidencing the
grant of each Option shall set forth the terms and conditions applicable to such
Option upon a termination or change in the status of the employment of the
Participant by Parent, DZA or a Subsidiary.

6.  Adjustment Upon Changes in Capitalization or Change in Control.
    --------------------------------------------------------------

    6.1. Adjustments to Incentive Stock Options. Insofar as is permissible under
applicable Belgian law, any adjustment that may be made pursuant to Section 4.1
hereof in the Shares or other stock or securities subject to outstanding
Incentive Stock Options upon a Change in Capitalization (including any
adjustments in the purchase price), shall be made in such manner as not to
constitute a modification as defined by Section 424(h)(3) of the Code and only
to the extent otherwise permitted by Sections 422 and 424 of the Code and shall
be made in such manner as not to constitute a modification as defined by FASB
Interpretation 44.

    6.2. Terms of Adjusted Options. If, by reason of a Change in Capitalization,
a Participant shall be entitled to exercise an Option with respect to new,
additional or different shares of stock or securities, such new, additional or
different shares shall thereupon be subject to all of the conditions and
restrictions which were applicable to the Shares subject to the Option prior to
such Change in Capitalization.

    6.3. Increase in Parent's Share Capital. In the event of an increase in
Parent's Share capital due to a contribution of cash to Parent in which existing
stockholders benefit from subscription rights, all outstanding Options that
qualify as warrants pursuant to Section 5.2 hereunder (whether or not vested at
such time) shall, prior to such increase, be fully exercisable by the holders
thereof for the period determined by Parent. Upon the expiration of such period,
any unexercised portion of any such outstanding Option shall continue to be
subject to the terms and conditions, including vesting schedule, of the
applicable Agreement and this Plan. Further, if any Option is exercised during
the period governed by this provision, the vested portion of such Option shall
be considered to have been exercised first, the portion that will vest at the
next vesting date shall be considered to have been exercised next and so on, so
that if one or more portions of such Option remain unexercised after the period
has ended, the portion with the latest vesting date

                                       10

<PAGE>

shall remain outstanding, and if any additional portion still remains
outstanding, the portion with the next latest vesting date shall remain
outstanding and so on.

    6.4. Parent Decisions. The existence of the Plan and the Options granted
hereunder shall not affect or restrict in any way the right or power of Parent
or the stockholders of Parent to make or authorize any Change in Capitalization;
Change in Control; change in Parent's business; any issue of stock or of
options, warrants or rights to purchase stock or bonds, debentures, preferred or
prior preference stocks whose rights are superior to or affect the common stock
or the rights thereof or which are convertible into or exchangeable for common
stock; the dissolution or liquidation of Parent; any sale or transfer of all or
any part of its assets or business; or any other corporate act or proceeding,
whether of a similar character or otherwise; provided, however, that to the
extent Section 501 of the Belgian Company Code is applicable, appropriate
adjustments to Options qualifying as warrants (including any adjustments in the
purchase price) shall be made to protect the interests of the holders of such
Options.

7.  Effect of Change in Control.
    ---------------------------

         Notwithstanding any other provision of the Plan (including but not
limited to Section 8) or any provision in any Option Agreement to the contrary,
upon, prior to or within three (3) months after the occurrence of a Change in
Control, the Committee may, in its discretion, terminate any outstanding Option
without a Participant's consent as long as it provides for Participant
realization of the value (if any) of such Options through one or more of the
following methods, as applicable: (i) payment of an amount of cash equal to the
amount that could have been attained (if any) upon the exercise of such Option
if it were fully vested on the date of the Change in Control, or (ii) automatic
exercise of the Option as if it were fully vested on the date of the Change in
Control with the Participant receiving the same securities or other property
that stockholders have received or will receive in exchange for their shares of
common stock of Parent. Further, if such Options continue following a Change in
Control, such Options may be adjusted in accordance with Sections 4.1 and 6 of
the Plan.

8.  Termination and Amendment of the Plan.
    -------------------------------------

         The Plan shall terminate on the day preceding the tenth anniversary of
the date of its adoption by the stockholders of Parent, and no Option may be
granted thereafter. The Board may sooner terminate the Plan, may at any time and
from time to time amend, modify or suspend the Plan, and may amend or modify an
outstanding Option; provided, however, that: (a) no such amendment,
modification, suspension or termination shall impair or adversely alter any
Options theretofore granted under the Plan, except with the consent of the
Participant, nor shall any amendment, modification, suspension or termination
deprive any Participant of any Shares which he or she may have acquired through
or as a result of the Plan; and (b) to the extent necessary under applicable
law, no amendment shall be effective unless approved by the stockholders of
Parent in accordance with applicable law.

                                       11

<PAGE>

9.  Non-Exclusivity of the Plan.
    ---------------------------

         The adoption of the Plan by the Board shall not be construed as
amending, modifying or rescinding any previously approved incentive arrangement
or as creating any limitations on the power of the Board to adopt such other
incentive arrangements as it may deem desirable, including, without limitation,
the granting of stock options otherwise than under the Plan, and such
arrangements may be either applicable generally or only in specific cases.

10. Limitation of Liability.
    -----------------------

         As illustrative of the limitations of liability of Parent and each
Subsidiary, but not intended to be exhaustive thereof, nothing in the Plan shall
be construed to:

                  (i) give any person any right to be granted an Option other
         than at the sole discretion of the Committee;

                  (ii) give any person any rights whatsoever with respect to
         Shares except as specifically provided in the Plan;

                  (iii) limit in any way the right of Parent or any Subsidiary
         to terminate the employment of any person at any time; or

                  (iv) be evidence of any agreement or understanding, expressed
         or implied, that Parent or any Subsidiary will employ any person at any
         particular rate of compensation or for any particular period of time.

11. Regulations and Other Approvals; Governing Law.
    ----------------------------------------------

    11.1. Except as to matters of United States federal law and the laws of the
Kingdom of Belgium as applicable including, but not limited to, the validity of
the corporate actions taken by the Board under Belgian law, the Plan and the
rights of all persons claiming hereunder shall be construed and determined in
accordance with the laws of the State of North Carolina without giving effect to
conflicts of laws principles thereof.

    11.2. The grant of Options under the Plan, and the obligation of Parent to
sell or deliver Shares with respect to Options granted under the Plan shall be
subject to all applicable laws, rules and regulations, including all applicable
Belgian, United States federal and state securities laws, and the obtaining of
all such approvals by governmental agencies or regulatory or corporate bodies as
may be deemed necessary or appropriate by the Committee.

                                       12

<PAGE>

    11.3. The Board may make such changes as may be necessary or appropriate to
comply with the rules and regulations of any governmental or regulatory
authority, or to obtain for Eligible Individuals granted Incentive Stock Options
the tax benefits under the applicable provisions of the Code and regulations
promulgated thereunder.

    11.4. Each Option is subject to the requirement that, if at any time the
Committee determines, in its discretion, that the listing, registration or
qualification of Shares issuable pursuant to the Plan is required by any
securities exchange or under any Belgian, state or federal law, or the consent
or approval of any governmental, regulatory or corporate body is necessary or
desirable as a condition of, or in connection with, the grant of an Option or
the issuance of Shares, no Options shall be granted or Shares issued, in whole
or in part, unless listing, registration, qualification, consent or approval has
been effected or obtained free of any conditions as acceptable to the Committee.

    11.5. Notwithstanding anything contained in the Plan or any Agreement to the
contrary, in the event that the disposition of Shares acquired pursuant to the
Plan is not covered by a then current registration statement under the
Securities Act, and is not otherwise exempt from such registration, such Shares
shall be restricted against transfer to the extent required by the Securities
Act and Rule 144 or other regulations thereunder. The Committee may require any
individual receiving Shares pursuant to an Option granted under the Plan, as a
condition precedent to receipt of such Shares, to represent and warrant to the
Parent in writing that the Shares acquired by such individual are acquired
without a view to any distribution thereof and will not be sold or transferred
other than pursuant to an effective registration thereof under said Act or
pursuant to an exemption applicable under the Securities Act or the rules and
regulations promulgated thereunder.

12. Miscellaneous.
    -------------

    12.1. Multiple Agreements. The terms of each Option may differ from other
Options granted under the Plan at the same time, or at some other time. The
Committee may also grant more than one Option to a given Eligible Individual
during the term of the Plan, either in addition to, or in substitution for, one
or more Options previously granted to that Eligible Individual.

    12.2. Withholding of Taxes.

        (a) Upon the occurrence of a Taxable Event, a Participant shall pay an
    amount equal to the applicable Withholding Taxes prior to the Participant's
    receipt of any Shares or the payment of any cash due the Participant as the
    result of the exercise of any portion of an Option. The Company shall have
    the right to deduct from any payment of cash to a Participant an amount
    equal to the Withholding Taxes in satisfaction of the obligation to pay
    Withholding Taxes. In satisfaction of the obligation to pay Withholding
    Taxes to the Company, the

                                       13

<PAGE>

    Participant may make a written election, which may be accepted or rejected
    in the discretion of the Committee, to have withheld a portion of the Shares
    then due to him or her for payment of Withholding Taxes, but not in excess
    of the Participant's required withholding obligation.

        (b) If (i) the purchase of Shares pursuant to the exercise of an
    Incentive Stock Option or (ii) a Participant's disposition (within the
    meaning of Section 424(c) of the Code and the regulations promulgated
    thereunder) of any such Shares within the two-year period commencing on the
    day after the date of the grant or within the one-year period commencing on
    the day after the date of transfer of such Shares to the Participant
    pursuant to such exercise, becomes a Taxable Event that requires the Company
    to collect Withholding Taxes, the Participant shall cooperate with the
    Company in the procedures it may establish to track any such dispositions
    and to make appropriate arrangements with the Company for any taxes which
    the Company is obligated to collect.

    12.3. Effective Date. The effective date of this Plan is May 23, 2002,
subject only to approval by the affirmative vote of the holders of a majority of
the securities of Parent present, or represented, and entitled to vote at a
meeting of stockholders of Parent duly held in accordance with the applicable
laws of the Kingdom of Belgium.

                                       14

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