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                                                                    EXHIBIT 10.1

                          EXECUTIVE RETENTION AGREEMENT

     AGREEMENT by and between Tyco International Ltd., a Bermuda company (the
"Company"), and Mark Belnick (the "Executive"), effective as of the Effective
Date (as hereinafter defined).

                               W I T N E S S E T H

     WHEREAS, Executive is Executive Vice President and Chief Corporate Counsel
of the Company; and

     WHEREAS, the Company has determined that it is in the best interests of the
Company and its stockholders to reinforce and encourage the continued attention
and dedication of Executive to the Company as a member of the Company's senior
management and to assure that the Company will have the services of Executive in
the foreseeable future.

     NOW, THEREFORE, in consideration for the promises and mutual covenants
herein contained, it is hereby agreed by and between the Company and Executive
as follows:

1.   DEFINITIONS.

     As used in this Agreement, the following terms shall have the respective
meanings set forth below:

        (a) "Affiliate" means any entity that directly or indirectly is
controlled by, controls or is under common control with the Company.

        (b) "Cause" means Executive's conviction of a felony. The Company
must notify Executive of an event constituting Cause within 90 days following
the Board's knowledge of its existence or such event shall not constitute
Cause under this Agreement.

        (c) "Change in Control" means the first to occur of any of the
following events:

                (1) Any "person" (as that term is used in Sections 13 and
        14(d)(2) of the Securities Exchange Act of 1934 ("Exchange Act"))
        becomes the beneficial owner (as that term is used in Section 13(d)
        of the Exchange Act), directly or indirectly, of 30% or more of the
        Company's capital stock entitled to vote in the election of
        directors;

                (2) Persons who, as of the Effective Date constitute the
        Board (the "Incumbent Directors") cease for any reason, including,
        without limitation, as a result of a tender offer, proxy contest,
        merger or similar transaction, to constitute at least a majority
        thereof, provided that any person becoming a director of the Company
        subsequent to the Effective Date shall be considered an Incumbent
        Director if such person's election or nomination for election was
        approved by a vote of at least three-quarters of the Incumbent
        Directors; but provided further, that any such person whose initial
        assumption of office is in connection with an actual or threatened
        election contest

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        relating to the election of members of the Board or other actual or
        threatened solicitation of proxies or consents by or on behalf of a
        "person" (as that term is used in Sections 13 and 14(d)(2) of the
        Exchange Act) other than the Board, including by reason of
        agreement intended to avoid or settle any such actual or threatened
        contest or solicitation, shall not be considered an Incumbent
        Director;

                (3) The shareholders of the Company approve any consolidation
        or merger of the Company, other than a merger of the Company in which
        the holders of the common stock of the Company immediately prior to
        the merger hold more than 50% of the common stock of the surviving
        corporation immediately after the merger;

                (4) The shareholders of the Company approve any plan or
        proposal for the liquidation or dissolution of the Company; or

                (5) Substantially all of the assets of the Company are sold
        or otherwise transferred to unaffiliated third parties.

        (d) "Company" means Tyco International Ltd., a Bermuda corporation,
and the successor to, or transferee of all or substantially all of the assets
of, the Company.

        (e) "Date of Termination" means (1) the effective date on which
Executive's employment by the Company terminates as specified in a Notice of
Termination by the Company or Executive, as the case may be, or (2) if
Executive's employment by the Company terminates by reason of death, the date
of death of Executive. Notwithstanding the previous sentence, (i) if
Executive's employment is terminated for Disability, then such Date of
Termination shall be no earlier than 30 days following the date on which a
Notice of Termination is received, and (ii) if Executive's employment is
terminated by the Company other than for Cause or by Executive other than for
Good Reason, then such Date of Termination shall be no earlier than 30 days
following the date on which a Notice of Termination is received.

        (f) "Disability" means Executive's incapacity due to physical or
mental illness which renders Executive unable to perform his duties on a
full-time basis for 180 calendar days in the aggregate in any 12-month
period. Any question as to the existence of any physical or mental illness
referred to above to which the Company and Executive cannot agree shall be
determined by a qualified independent physician selected jointly by the
Company and Executive or, if the Company and Executive cannot agree, a
physician selected jointly by two physicians, one selected by the Company and
one selected by Executive. The determination of such a physician made in
writing to the Company and Executive shall be final and conclusive for
purposes of this Agreement.

        (g) "Effective Date" means October 1, 2001.

        (h) "Good Reason" means, without Executive's express written consent,
the occurrence of any of the following events:

                (1) a material and adverse change in Executive's titles,
        offices, duties or responsibilities with the Company as in effect on
        the Effective Date;

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                (2) a reduction by the Company in Executive's rate of annual
        base salary or annual or long-term incentive compensation opportunity
        as in effect immediately prior to the Effective Date or as the same
        may be increased from time to time thereafter; provided that amounts
        payable pursuant to this Agreement shall not be considered an
        incentive compensation opportunity for this purpose;

                (3) the failure of the Company to provide Executive and his
        dependents with employee and fringe benefits at least as generous as
        those in effect on the Effective Date;

                (4) the failure of the Company to obtain the assumption
        agreement from any successor as contemplated in Section 16; or

                (5) any relocation of Executive's principal place of business
        more than 20 miles from Park City, Utah or New York City, New York.

     Notwithstanding the foregoing, an isolated and inadvertent action taken
in good faith and which is remedied by the Company within ten days after receipt
of notice thereof given by Executive shall not constitute Good Reason.

        (i) "Notice of Termination" means the written notice described in
Section 17(b).

2.   RETENTION PAYMENT.

     If Executive remains employed by the Company or any Affiliate through
October 1, 2003 then he shall receive a lump sum cash payment within ten (10)
business days after October 1, 2003 in the amount of ten million six hundred
thousand dollars ($10,600,000.00). This payment shall be in lieu of cash bonuses
for the fiscal years ending September 30, 2001, September 30, 2002 and September
30, 2003, and any and all severance obligations.

3.   TERMINATION OF EMPLOYMENT.

     Executive's employment hereunder may be terminated on or prior to October
1, 2003 under the following circumstances:

        (a) DEATH. Executive's employment with the Company shall terminate
upon his death.

        (b) DISABILITY. Executive's employment with the Company shall
terminate upon his Disability.

        (c) TERMINATION BY COMPANY FOR CAUSE. Subject to the provisions of
Section 1(b) hereof and upon a Notice of Termination to Executive, the
Company may terminate Executive's employment with the Company for Cause.

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        (d) TERMINATION BY COMPANY WITHOUT CAUSE. Upon a Notice of
Termination to Executive, the Company may terminate Executive's employment
with the Company without Cause.

        (e) TERMINATION BY EXECUTIVE. Upon a Notice of Termination to the
Company, Executive may terminate his employment with the Company for any
reason, including but not limited to Good Reason.

4.   COMPENSATION UPON TERMINATION.

        (a) TERMINATION GENERALLY. If Executive's employment with the Company
is terminated for any reason, the Company shall pay or provide to Executive
(or to his authorized representatives or estate) any earned but unpaid base
salary, unpaid expense reimbursements, accrued but unused vacation and any
vested benefits that Executive may have under any employee benefit plan of
the Company, including without limitation, executive compensation, insurance
and retirement plans or arrangements (the "Accrued Benefits").

        (b) TERMINATION BY THE COMPANY WITHOUT CAUSE OR BY EXECUTIVE FOR GOOD
REASON. If, prior to October 1, 2003, Executive's employment with the Company
and all Affiliates is terminated for any reason other than by Executive
without Good Reason or by the Company with Cause, then (i) if such
termination occurs prior to October 1, 2002, Executive shall receive a lump
sum cash payment within ten (10) business days after the date of such
termination in an amount equal to three million five hundred thirty-three
thousand three hundred thirty-three dollars ($3,533,333.00), and Executive
shall receive an additional lump sum payment of the same amount on each of
October 1, 2002 and October 1, 2003, and (ii) if such termination occurs on
or after October 1, 2002, Executive shall receive a lump sum cash payment
within ten (10) business days after the date of such termination in an amount
equal to seven million sixty-six thousand six hundred sixty-seven dollars
($7,066,667.00), and Executive shall receive an additional lump sum payment
of three million five hundred thirty-three thousand three hundred
thirty-three dollars ($3,533,333.00) on October 1, 2003.

        (c) TERMINATION BY COMPANY WITH CAUSE OR BY EXECUTIVE WITHOUT GOOD
REASON. If, prior to October 1, 2003, Executive's employment with the Company
and all Affiliates is terminated by Executive without Good Reason or by the
Company for Cause, then Executive shall receive a lump sum cash payment
within ten (10) business days after the date of such termination in an amount
equal to ten million six hundred thousand dollars ($10,600,000.00) multiplied
by (i) one-third, if such termination occurs after September 30, 2001 and
before October 1, 2002 and (ii) two-thirds if such termination occurs after
September 30, 2002 and before October 1, 2003.

        (d) The sum of the payments received by Executive, if any, pursuant
to Section 2, 4(b) or 4(c) is referred to herein as the "Retention Payment."
The Retention Payment shall be in lieu of cash bonuses for the fiscal years
ending September 30, 2001, September 30, 2002 and September 30, 2003, and any
and all severance and benefit obligations.

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5.   CERTAIN ADDITIONAL PAYMENTS BY THE COMPANY.

     If Executive receives a Retention Payment pursuant to Section 2, 4(b) or
4(c), he shall also be paid, at the same time as any installment of the
Retention Payment, an additional payment (the "Gross-Up Payment") in an amount
such that, after payment by Executive of all taxes on such installment of the
Retention Payment and the Gross-Up Payment (including all federal, state and
local income, employment and other taxes, and any interest or penalties imposed
on such taxes), Executive retains an amount of the Gross-Up Payment equal to the
amount of such taxes.

6.   TERM.

     This Agreement shall terminate, and neither party shall have any rights or
obligations hereunder (other than the Company's obligation, if any, to pay any
amounts owed to Executive pursuant to Sections 2, 4 and 5 hereof), on the
earlier of (i) October 1, 2003 or (ii) Executive's termination of employment.

7.   NO SPECIAL EMPLOYMENT RIGHTS.

     Nothing in this Agreement shall (i) be deemed to confer on Executive any
right to employment or continued employment with the Company or any Affiliates,
or (ii) affect any right that the Company or any Affiliates may have to
terminate the employment of Executive at any time.

8.   BENEFICIARY

     Executive may designate, on the Beneficiary Designation Form attached
hereto as Exhibit "A," a beneficiary to receive the payments provided by
Sections 2, 4 and 5 hereof, subject to the terms described herein, in the event
of Executive's death. Executive may designate more than one person as
Executive's beneficiary, in which case the beneficiaries shall share in any
payments in proportion to the percentages of interest assigned to them by
Executive. Executive may change his beneficiary (without the consent of any
prior beneficiary) on a subsequently dated Beneficiary Designation Form
delivered to the Company before Executive's death. In the event Executive does
not designate a beneficiary, or no designated beneficiary survives Executive,
Executive's beneficiary shall be Executive's estate.

9.   OTHER EMPLOYEE BENEFITS

     Any Retention Payment or Gross-Up Payment paid under this Agreement shall
not be includible as an annual or long-term bonus or other compensation in
creditable compensation in computing benefits under any employee benefit plan of
the Company or any Affiliates.

10.  WITHHOLDING TAXES.

     The Company may withhold from all payments due to Executive (or his
beneficiary or estate) hereunder all taxes which, by applicable federal, state,
local or other law, the Company is required to withhold therefrom.

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11.  CONFIDENTIAL INFORMATION.

     Executive agrees that he shall not, directly or indirectly, use, make
available, sell, disclose or otherwise communicate to any person, other than in
the course of Executive's assigned duties and for the benefit of the Company,
either during the period of Executive's employment or at any time thereafter,
any nonpublic, proprietary or confidential information, knowledge or data
relating to the Company, or any of its Affiliates, which shall have been
obtained by Executive during Executive's employment by the Company. The
foregoing shall not apply to information that (a) was known to the public prior
to its disclosure to Executive; (b) becomes known to the public subsequent to
disclosure to Executive through no wrongful act of Executive or any
representative of Executive; or (c) Executive is required to disclose by
applicable law, regulation or legal process (provided that Executive provides
the Company with prior notice of the contemplated disclosure and reasonably
cooperates with the Company at its expense in seeking a protective order or
other appropriate protection of such information). Notwithstanding clauses (a)
and (b) of the preceding sentence, Executive's obligation to maintain such
disclosed information in confidence shall not terminate where only portions of
the information are in the public domain.

12.  NON-SOLICITATION AGREEMENT.

     During Executive's employment with the Company and continuing for a
three-year period following the Date of Termination, Executive agrees that he
will not, directly or indirectly, individually or on behalf of any other person,
firm, corporation or other entity, knowingly solicit, aid or induce (a) any
managerial level employee of the Company or any of its Affiliates to leave such
employment in order to accept employment with or render services to or with any
other person, firm, corporation or other entity unaffiliated with the Company or
knowingly take any action to materially assist or aid any other person, firm,
corporation or other entity in identifying or hiring any such employee or (b)
any customer of the Company to purchase goods or services then sold by the
Company or any of its Affiliates from another person, firm, corporation or other
entity or assist or aid any other persons or entity in identifying or soliciting
any such customer.

13.  ACKNOWLEDGEMENTS RESPECTING RESTRICTIVE COVENANTS.

        (a) NO ADEQUATE REMEDY AT LAW. Executive acknowledges that it is
impossible to measure in money the damages that will accrue to the Company in
the event that Executive breaches any of the restrictive covenants and that
any such damages, in any event, would be inadequate and insufficient.
Therefore, if Executive breaches any restrictive covenant, the Company and
any of its Affiliates shall be entitled to an injunction restraining
Executive from violating such restrictive covenant. If the Company or any of
its Affiliates shall institute any action or proceeding to enforce a
restrictive covenant, Executive hereby waives, and agrees not to assert in
any such action or proceeding, the claim or defense that the Company or any
of its respective Affiliates have an adequate remedy at law.

        (b) INJUNCTIVE RELIEF NOT EXCLUSIVE REMEDY. In the event of a breach
of any of the restrictive covenants, Executive agrees that, in addition to
any injunctive relief as

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described in Section 13(a), the Company shall be entitled to any other
appropriate legal or equitable remedy.

        (c) THIS SECTION REASONABLE, FAIR AND EQUITABLE. Executive agrees
that this Section 13 is reasonable, fair and equitable in light of his duties
and responsibilities under this Agreement and the benefits to be provided to
him under this Agreement and that it is necessary to protect the legitimate
business interests of the Company and that Executive has had independent
legal advice in so concluding.

        (d) CONSTRUCTION. If any of the restrictions contained in Sections 11
or 12 hereof are deemed by a court of competent jurisdiction to be
unenforceable by reason of their extent, duration or geographical scope or
otherwise, Executive and Company contemplate that the court shall revise such
extent, duration, geographical scope or other provision but only to the
extent required in order to render such restrictions enforceable, and enforce
any such restriction in its revised form for all purposes in the manner
contemplated hereby.

14.  NONDISPARAGEMENT.

     Each of Executive and the Company (for purposes hereof, the Company shall
mean only the executive officers and directors thereof and not any other
employees) agrees not to make any public statements that disparage the other
party or, in the case of the Company, its respective affiliates, employees,
officers, directors, products or services. Notwithstanding the foregoing,
statements made in the course of sworn testimony in administrative, judicial or
arbitral proceedings (including, without limitation, depositions in connection
with such proceedings) shall not be subject to this Section 14.

15.  INDEMNIFICATION.

     To the fullest extent permitted by law, the Company shall indemnify
Executive (including the advancement of expenses) for any judgments, fines,
amounts paid in settlement and reasonable expenses, including reasonable
attorneys' fees, incurred by Executive in connection with the defense of any
lawsuit or other claim to which he is made a party by reason of being an
officer, director, employee or consultant of the Company or any of its
Affiliates. The provisions of this Section 15 shall survive the termination of
this Agreement.

16.  SUCCESSORS; BINDING AGREEMENT.

        (a) This Agreement is personal to Executive and without the prior
written consent of the Company, shall not be assignable by Executive
otherwise than by will or the laws of descent and distribution. This
Agreement shall inure to the benefit of and be enforceable by Executive's
legal representatives.

        (b) This Agreement shall inure to the benefit of and be binding upon
the Company and its successors. The Company agrees that, for so long as it
has any obligations under this Agreement, it will cause any successor or
transferee (if other than the Company) to unconditionally assume, by written
instrument delivered to Executive (or his beneficiary or estate), all of the
obligations of the Company hereunder.

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17.  NOTICES.

        (a) All notices or other communications pursuant to this Agreement
shall be in writing and shall be deemed valid and sufficient if delivered by
personal service or overnight courier or if dispatched by registered mail,
postage prepaid, in any post office, or if dispatched by telefax, promptly
confirmed by letter dispatched as above provided, addressed as follows:

        If to Executive:

        P.O. Box 4163
        Park City, Utah 84060

                 and

        3468 Crest Court
        Park City, Utah 84060

        If to the Company:

        Tyco International Ltd.
        The Zurich Centre
        Second Floor
        90 Pitts Bay Road
        Pembroke, HM08, Bermuda
        Attn.: Corporate Secretary

or to such other address as either party shall have furnished to the other in
writing in accordance herewith. Notices and other communications rendered as
herein provided shall be deemed to have been given on the day on which
personally served or sent by telefax or, if sent by overnight courier, on the
second (2nd) day after being posted, or if sent by registered mail, on the
seventh (7th) day after being posted, or the date of actual receipt, whichever
date is the earlier.

        (b) A written notice of Executive's Date of Termination by the
Company or Executive, as the case may be, to the other, shall (i) indicate
the specific termination provision in this Agreement relied upon, (ii) to the
extent applicable, set forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of Executive's employment under
the provision so indicated and (iii) specify the Date of Termination. The
failure by Executive or the Company to set forth in such notice any fact or
circumstance which contributes to a showing of Good Reason or Cause shall not
waive any right of Executive or the Company hereunder or preclude Executive
or the Company from asserting such fact or circumstance in enforcing
Executive's or the Company's rights hereunder.

18.  OBLIGATIONS OF THE COMPANY

     If Executive becomes entitled to payment of any installment of a Retention
Payment hereunder, and if at such time Executive has outstanding any debt,
obligation, or other liability representing an amount owed to the Company or any
Affiliates, the amount of such indebtedness obligation or other liability may,
at the Company's option, to the extent lawful, be deducted by

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the Company from the amount of the Retention Payment installment then due
and payable to Executive or Executive's beneficiary pursuant to this Agreement
(but not from the associated Gross-Up Payment). Consent to such deduction shall
be evidenced by Executive's signature on this Agreement.

19.  GOVERNING LAW; VALIDITY.

     The validity, interpretation, and enforcement of this Agreement shall be
governed by the laws of the State of New York as to all matters, including, but
not limited to, matters of validity, construction and performance, without
regard to principles of conflict of laws. The invalidity or unenforceability of
any provision of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, which other provisions shall remain in
full force and effect.

20.  ARBITRATION; LEGAL FEES.

     Any dispute or controversy under this Agreement shall be settled
exclusively by arbitration in accordance with the rules of the American
Arbitration Association then in effect. Judgment may be entered on the
arbitration award in any court having jurisdiction. The Company shall bear all
costs and expenses arising in connection with any arbitration proceeding
pursuant to this Section 20 (including, without limitation, all reasonable legal
fees incurred by Executive in connection with such arbitration).

21.  WAIVER.

     Executive's or the Company's failure to insist upon strict compliance with
any provision hereof or any other provision of this Agreement or the failure to
assert any right Executive or the Company may have hereunder shall not be deemed
to be a waiver of such provision or right or any other provision or right of
this Agreement.

22.  ENTIRE AGREEMENT; NO AMENDMENT.

     This Agreement contains the entire agreement between the parties respecting
the subject matter hereof and supersedes all prior oral or written
communications and agreements between the parties relating to employment or
payments in the event employment terminates. Neither this Agreement, nor any of
its terms, may be changed, added to, amended, waived or varied except in writing
signed by Executive and the Company (by an officer or other person authorized to
do so by the Board other than Executive).

23.  COUNTERPARTS.

     This Agreement may be executed in counterparts, each of which shall be
deemed to be an original and all of which together shall constitute one and the
same instrument.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement this
28th day of February, 2002.

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     THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION WHICH MAY BE
ENFORCED BY THE PARTIES.

EXECUTIVE                              TYCO INTERNATIONAL LTD.

/s/ Mark Belnick                       By: /s/ L. Dennis Kozlowski
--------------------------                 ------------------------------------
Mark Belnick                               Chairman and Chief Executive Officer

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EXHIBIT 10.34    
  

 
  INAMED CORPORATION
  2000 STOCK OPTION PLAN    
  

        1.    Purpose. The purpose of the Plan is to provide additional incentive to those officers, key employees, nonemployee
directors and consultants of the Company and its Subsidiaries whose substantial contributions are essential to the continued growth and success of the Company's business in order to strengthen their
commitment to the Company and its Subsidiaries, to motivate such officers and employees to faithfully and diligently perform their assigned responsibilities and to attract and retain competent and
dedicated individuals whose efforts will result in the long-term growth and profitability of the Company. To accomplish such purposes, the Plan provides that the Company may grant
Nonqualified Stock Options. The Plan is intended, to the extent applicable, to satisfy the requirements of Section 162(m) of the Code and shall be interpreted in a manner consistent with the
requirements thereof. 

        2.    Definitions. For purposes of the Plan: 

	(a)
	"Affiliates"
shall have the meaning set forth in Rule 12b-2 under the Exchange Act.

	(b)
	"Agreement"
shall mean the written agreement evidencing the grant of an Option, and setting forth the terms and conditions thereof. Each Agreement shall be approved by the Board or
the committee.

	(c)
	"Associates"
shall have the meaning set forth in Rule 12b-2 under the Exchange Act.

	(d)
	"Beneficial
Owner" shall have the meaning set forth in Rule 13d-3 under the Exchange Act.

	(e)
	"Board"
shall mean the Board of Directors of the Company.

	(f)
	"Change
in Capitalization" shall mean any increase, reduction, or change or exchange of Shares for a different number or kind of shares or other securities of the Company by reason of
a reclassification, recapitalization, merger, consolidation, reorganization, issuance of warrants or rights, stock dividend, stock split or reverse stock split, combination or exchange of shares,
repurchase of shares, change in corporate structure or otherwise.

	(g)
	"Change
of Control" of the Company shall be deemed to occur on the first to occur of the following: (i) any Person (other than the Company, any trustee or other fiduciary
holding securities under an employee benefit plan of the Company, or any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their
ownership of stock of the Company) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting power of the Company's then
outstanding securities; (ii) during any period of two consecutive years (not including any period prior to the adoption of the Plan), individuals who at the beginning of such period constitute
the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in clause (i), (iii) or
(iv) of this definition) whose election by the Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds (2/3) of
the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute
at least a majority thereof; (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than (a) a merger or consolidation
which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities
of the surviving entity) more than 50% of the combined voting power of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or
(b) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no Person acquires more than 50% of the combined voting power of the
Company's 

 

then
outstanding securities; or (iv) the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or
substantially all of the Company's assets. 

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

	(i)
	"Committee"
shall mean a committee appointed by the Board to administer the Plan and to perform the functions set forth herein. The composition of the Committee shall at all times
consist solely of persons who are (i) "Nonemployee Directors" as defined in Rule 16b-3 issued under the Exchange Act, and (ii) "outside directors" as defined in
Section 162(m) of the Code.

	(j)
	"Company"
shall mean Inamed Corporation, a Delaware corporation.

	(k)
	"Eligible
Employee" shall mean any officer or other key employee of the Company or a Subsidiary designated by the Board or Committee as eligible to receive Options subject to the
conditions set forth herein.

	(l)
	"Exchange
Act" shall mean the Securities Exchange Act of 1934, as amended.

	(m)
	"Fair
Market Value" shall mean the fair market value of the Shares as determined by the Committee in its sole discretion; provided, however, that (A) if the Shares are admitted
to trading on a national securities exchange, Fair Market Value on any date shall be the last sale price reported for the Shares on such exchange on such date or on the last date preceding such date
on which a sale was reported, (B) if the Shares are admitted to quotation on the NASDAQ stock market ("NASDAQ") or other comparable quotation system and have been designated as a National
Market System ("NMS") security. Fair Market Value on any date shall be the last sale price reported for the Shares on such system on such date or on the last day preceding such date on which a sale
was reported, or (C) if the Shares are admitted to quotation on NASDAQ and have not been designated a NMS security, Fair Market Value on any date shall be the average of the highest bid and
lowest asked prices of the Shares on such system on such date.

	(n)
	"Incentive
Stock Option" shall mean an "Incentive Stock Option" within the meaning of Section 422 of the Code.

	(o)
	"Nonqualified
Stock Option" shall mean an option that is not an Incentive Stock Option.

	(p)
	"Option"
shall mean a Nonqualified Stock Option.

	(q)
	"Optionee"
shall mean an Eligible Employee, nonemployee director or consultant of the Company or a Subsidiary who has been granted an Option under the Plan.

	(r)
	"Person"
shall have the meaning given in Section 3(a) (9) of the Exchange Act, as modified and used in Sections 13(d) and 14(d) thereof.

	(s)
	"Plan"
shall mean the Inamed Corporation 2000 Stock Option Plan, as amended from time to time.

	(t)
	"Shares"
shall mean shares of the common stock, $.01 par value, of the Company (including any new, additional or different stock or securities resulting from a Change in
Capitalization).

	(u)
	"Subsidiary"
shall mean any corporation in an unbroken chain of corporations, beginning with the Company, if each of the corporations other than the last corporation in the unbroken
chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

2

 

        3.    Administration. 

	(a)
	The
Plan shall be administered by the Committee, which shall hold meetings at such times as may be necessary for the proper administration of the Plan. The Committee shall keep
minutes of its meetings. A majority of the Committee shall constitute a quorum and a majority of a quorum may authorize any action. Any decision reduced to writing and signed by a majority of the
members of the Committee shall be fully effective as if it had been made at a meeting duly held. No member of the Committee shall be personally liable for any action, determination or interpretation
made in good faith with respect to the Plan and all members of the Committee shall be fully indemnified by the Company with respect to any such action, determination or interpretation. The Company
shall pay all expenses incurred in the administration of the Plan.

	(b)
	Subject
to the express terms and conditions set forth herein, the Committee shall have the power from time to time:

	(i)
	to
determine those Eligible Employees, nonemployee directors and consultants to whom Options shall be granted under the Plan and the number of Options,
to be granted to each Eligible Employee, nonemployee directors or consultants and to prescribe the terms and conditions (which need not be identical) of each Option, including the purchase price per
Share of each Option;

	(ii)
	to
construe and interpret the Plan and the 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 to make the Plan fully
effective, and all decisions and determinations by the Committee in the exercise of this power shall be final and binding upon the Company or a Subsidiary, and the Optionees, as the case may be;

	(iii)
	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. 

        4.    Shares Subject to Plan; Limitation on Grants. 

	(a)
	The
maximum number of Shares that may be issued pursuant to Options shall be 775,000 Shares (or the number and kind of shares of stock or other securities that are substituted for
those Shares or to which those Shares are adjusted upon a Change in Capitalization), and the Company shall reserve for the purposes of the Plan, out of its authorized but unissued Shares or out of
Shares held in the Company's treasury, or partly out of each, such number of Shares.

	(b)
	Whenever
any outstanding Option or portion thereof expires, is cancelled or is otherwise terminated (other than by exercise of an Option), the Shares allocable to the unexercised
portion of such Option may again be the subject of grants of Options hereunder.

	(c)
	The
aggregate number of Shares with respect to which an Option or Options may be granted to any individual Optionee during any fiscal year shall not exceed 18,000. 

        5.    Eligibility. Subject to the provisions of the Plan, the Committee shall have full and final authority to select those
Eligible Employees, nonemployee directors and consultants who will receive Options hereunder. 

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        6.    Options. The Committee may grant Options in accordance with the Plan, the terms and conditions of which shall be set forth
in an Agreement. Each Option and Agreement shall be subject to the following conditions: 

	(a)
	Purchase Price. The purchase price or the manner in which the purchase price is to be determined for Shares under each Option shall be
set forth in the Agreement; provided, however, that the Board may, in its sole discretion, at any time prior to the expiration of an Option, provide that the purchase
price per Share of an Option may be lowered if the Board determines that such an adjustment is necessary to preserve the incentive purpose of such Option.

	(b)
	Duration. Options granted hereunder shall be for such term as the Committee shall determine, provided that no Option shall 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.

	(c)
	Nontransferability. Unless otherwise set forth in the Agreement, no Option granted hereunder shall be transferable by an Optionee
otherwise than by will or the laws of descent and distribution, and an Option may be exercised during the lifetime of such Optionee only by the Optionee or such Optionee's guardian or legal
representative. The terms of such Option shall be binding upon the beneficiaries, executors, administrators, heirs and successors of the Optionee.

	(d)
	Vesting. Each Option shall become exercisable as determined by the Board or Committee as set forth in the Agreement.

	(e)
	Termination of Employment or Service. Unless otherwise set forth in the Agreement, any outstanding Options held by an Optionee on the
date that an Optionee ceases to be employed by the Company or any Subsidiary (or ceases to serve as a nonemployee director of, or a consultant to the Company or any Subsidiary) shall terminate as of
such date. Notwithstanding the foregoing, the Committee may provide, either at the time an Option is granted or thereafter, that the Option may be exercised beyond such date, but in no event beyond
the term of the Option. Without limiting the generality of the foregoing, unless determined otherwise by the Committee and reflected in the applicable Agreement, service by an Optionee as a consultant
to the Company which commences immediately upon the termination of such Optionee's employment by the Company (or, if applicable, termination of such Optionee's service as a nonemployee director) shall
be treated as continuous service by such Optionee with the Company for purposes of this Plan, and Options held by such Optionee shall remain outstanding during such service as a consultant, subject to
the terms of the Agreement and the Plan.

	(f)
	Method of Exercise. The exercise of an Option shall be made only by a written notice delivered to the Secretary of the Company at the
Company's principal executive office, specifying 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 for any Shares purchased pursuant to the exercise of an Option shall be paid in full upon such exercise either (i) in cash, by certified check or by cashier's
check or (ii) through the delivery of Shares owned by the Optionee for at least six months prior to the date of exercise having a Fair Market Value equal to the Option purchase price. If
requested by the Committee, the Optionee shall deliver the Agreement evidencing the Option to the Secretary of the Company who shall endorse thereon a notation of such exercise and return such
Agreement to the Optionee. Not less than 50 Shares may be purchased at any time upon the 

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exercise of an Option unless the number of Shares so purchased constitutes the total number of Shares then purchasable under the Option. 

	(i)
	Rights of Optionees. No Optionee shall be deemed for any purpose to be the owner of any Shares subject
to any Option unless and until (i) the Option shall have been exercised pursuant to the terms thereof, (ii) the Company shall have issued and delivered the Shares to the Optionee, and
(iii) the Optionee's name shall have been entered as a stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights
with respect to such Shares. 

        7.    Adjustment Upon Changes in Capitalization. 

	(a)
	In
the event of a Change in Capitalization, the Committee shall conclusively determine the appropriate adjustments, if any, to the maximum number and class of shares of stock with
respect to which Options may be granted under the Plan, the number and class of shares of stock as to which Options have been granted under the Plan, and the purchase price therefor, if applicable.

	(b)
	In
the event the outstanding Shares shall be changed into or exchanged for any other class or series of capital stock or cash, securities or other property pursuant to a
recapitalization, reclassification, merger, consolidation, combination or similar transaction, then each Option shall thereafter become exercisable for the number and/or kind of capital stock, and/or
the amount of cash, securities or other property so distributed, into which the Shares subject to the Option would have been changed or exchanged had the Option been exercised in full prior to such
transaction, provided that, if the kind or amount of capital stock or cash, securities or other property received in such transaction is not the same for each outstanding Share, then the kind or
amount of capital stock or cash, securities or other property for which the Option shall thereafter become exercisable shall be the kind and amount so receivable per Share by a plurality of the
Shares, and provided further that, if necessary, the provisions of the Option shall be appropriately adjusted so as to be applicable, as nearly as may reasonably be, to any shares of capital stock,
cash, securities or other property thereafter issuable or deliverable upon exercise of the Option. 

        8.    Termination and Amendment of the Plan. The Plan shall terminate on the day preceding the tenth anniversary of its
effective date, except with respect to Options outstanding on such date, and no Options may be granted thereafter, but then-outstanding Options shall be unaffected. The Board may sooner
terminate or amend the Plan at any time, and from time to time; provided, however, that, except as provided in Section 7 hereof, no amendment shall be effective unless approved by the
stockholders of the Company if and to the extent that the Board determines such approval is appropriate for purposes of satisfying Section 162(m) of the Code or any other law, regulation or
stock exchange rule. Except as provided in Section 7 hereof, rights and obligations under any Option granted before any amendment of the Plan shall not be adversely altered or impaired by such
amendment, except with the consent of the Optionee. 

        9.    Nonexclusivity 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 the Company, but not intended to be
exhaustive thereof, nothing in the Plan shall be construed to: 

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

5

 

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

	(c)
	limit
in any way the right of the Company or its Subsidiaries to terminate the employment of any person at any time; or

	(d)
	be
evidence of any agreement or understanding, expressed or implied, that the Company or its Subsidiaries will employ any person in any particular position, at any particular rate of
compensation or for any particular period of time. 

        11.  Regulations and Other Approvals; Governing Law. 

	(a)
	The
Plan and the rights of all persons claiming hereunder shall be construed and determined in accordance with the laws of the State of Delaware without giving effect to the choice of
law principles thereof.

	(b)
	The
obligation of the Company 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 federal and state securities laws, and the obtaining of all such approvals by governmental agencies as may be deemed necessary or appropriate by the Committee.

	(c)
	Except
as otherwise provided in Section 8, the Board may make such changes as may be necessary or appropriate to comply with the rules and regulations of any government
authority.

	(d)
	Each
Option is subject to the requirement that, if at any time the Committee determines, in its absolute discretion, that the listing, registration or qualification of Shares issuable
pursuant to the Plan is required by any securities exchange or under any state or federal law, or the consent or approval of any governmental regulatory 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 payment made 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. 

        12.  Multiple Agreements. The terms of each Option may differ from other Options granted under the Plan at the same time, or
at any other time. The Committee may also grant more than one Option, to a given Optionee during the term of the Plan, either in addition to, or in substitution for, one or more Options previously
granted to that Optionee. The grant of multiple Options may be evidenced by a single Agreement or multiple Agreements, as determined by the Committee. 

        13.  Withholding of Taxes. Whenever Shares are to be delivered pursuant to an Option, the Company shall have the right to
require the Optionee to remit to the Company in cash an amount equal to the amount of any federal, state and local tax required to be withheld. With the approval of the Committee, an Optionee may
satisfy the foregoing requirement by electing to have the Company withhold from delivery Shares having a value equal to the amount of tax required to be withheld. Such Shares shall be valued at their
Fair Market Value on the date of which the amount of tax required to be withheld is determined (the "Tax Date"). Fractional share amounts shall be settled in cash. Such a withholding election may be
made with respect to all or any portion of the shares to be delivered pursuant to an Option. 

        14.  Notification of Election Under Section 83(b) of the Code. If any Optionee shall, in connection with the
acquisition of Shares under the Plan, make the election permitted under Section 83 (b) of the Code, such Optionee shall notify the Company of such election within 10 days of
filing notice of the election with the Internal Revenue Service. 

        15.  No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan. The Board shall determine
whether cash, other Options, or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise
eliminated. 

        16.  Beneficiary. An Optionee may file with the Committee a written designation of a beneficiary on such form as may be
prescribed by the Committee and may, from time to time, amend or revoke such designation. If no designated beneficiary survives the Optionee, the executor or administrator of the Optionee's estate
shall be deemed to be the Optionee's beneficiary. 

        17.  Effective Date. The effective date of the Plan is January 4, 2000 (the date on which the Board adopted the Plan),
subject to the approval of the Company's shareholders, which must occur within twelve months of the date the Plan is adopted by the Board. 

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QuickLinks

EXHIBIT 10.34

INAMED CORPORATION 2000 STOCK OPTION PLAN

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