Document:

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ALCAN ALUMINIUM LIMITEE
<TABLE>
<S>                         <C>                         <C>                       <C>
1188, rue Sherbrooke Ouest  Adresse postale             Tel.: (514) 848-8000      LOGO
Montreal (Quebec) H3A 3G2   C.P. 6090                   Telec. : (514) 848-8115
Canada                      Montreal (Quebec) H3C 3A7   Telex: 05-25236
                            Canada                      Cable: Alcan
</TABLE>

EXHIBIT 10.17.:  FINANCIAL ARRANGEMENTS

                                                                16 February 2001

PERSONAL & CONFIDENTIAL

Mr. Jacques Bougie

Further to our discussions pertaining to your resignation as Chief Executive
Officer and Director of Alcan Aluminium Limited, please find hereunder the
details of the agreed upon financial arrangements.

1.   EFFECTIVE DATE

     Even though your resignation took immediate effect on January 10th, 2001
     your regular monthly compensation continues until 14 February. Effective 15
     February 2001, you will be considered a non-active employee as per the
     customary practices.

2.   SPECIAL BONUS

     The Board has awarded you a special bonus in the aggregate amount of
     US$3,962,140 in consideration of your extraordinary contribution to the
     Corporation over 20 years and, accrued but untaken vacation. This amount
     will be paid as follows:

     2.1  TRANSFER TO NON-ACTIVE PAYROLL (PART TO THE SPECIAL BONUS)

          Effective 15 February 2001, you will be transferred to the non-active
          payroll at a salary rate of US$33,333 per month (US$400,000 p.a.)
          until 1 August 2003, i.e. for a total of 29.5 months. The maximum
          total amount paid on the non-active payroll will be US$983,333.

          At any time during the non-active period (15 Feb. 2001 to 31 July
          2003) you may elect to stop these payments and be paid the remaining
          balance of the monthly payments in a lump sum. At the end of the
          non-active period, you will retire under the terms of the Alcan
          Pension Plan (APP) and the Alcan Supplemental Retirement Benefit Plan
          (ASRBP), but no later than 1 August 2003.

          In the event of death while still on the non-active payroll, the
          remaining unpaid balance of non-active payments will be paid as a lump
          sum to the beneficiary you designated under the Alcan Pension Plan.

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ALCAN ALUMINIUM LIMITEE

                                                                    [ALCAN LOGO]

                                                                16 February 2001

     2.2  A bonus of US$2,978,807 paid in a lump sum at the end of February
          2001. You may not elect to accelerate or defer the date of this
          payment.

          In the event of your death, prior to 31 January 2002, the amount of
          US$2,978,807 will be paid to the beneficiary you designated under the
          Alcan Pension Plan.

3.   IMPROVED PENSION

     As a further consideration to your past contribution to the Group the Board
     has increased your annual pension entitlement on 1 March 2001 (age 53,5833)
     by C$271,875. This additional pension is payable from Alcan's general
     revenues and is not subject to pension augmentations granted by the Company
     from time to time.

     You may elect to defer your pension commencement date but no later than
     your attainment of age 56. Should you make such an election, the amount of
     additional pension will be limited to the amount necessary to increase your
     regular pension benefit entitlement shown in your employment contract
     signed on 23 July 1999 (contract attached), under column "B" of Schedule B
     to C$950,000. At your pension commencement date, you will also receive a
     lump sum payment equal to the excess of (A) US$2,402,860 increased with
     interest at the rate of 6.25% p.a. from 1 March 2001 over (B) the actuarial
     value of the additional pension. The amount of additional pension may be
     commuted into a lump sum at any time up to age 56.

     In the event of death prior to your pension commencement date a lump sum of
     US$2,402,860 increased with interest at the rate of 6.25% p.a. from 1 March
     2001 will be paid to the beneficiary you designated under the Alcan Pension
     Plan. Upon your death after your pension commencement date, 60% of the
     amount of additional pension will be paid to your surviving spouse for her
     lifetime.

4.   OTHER REGULAR PAYMENTS

     --   EPA PAYMENT (PERIOD 1/1/00 TO 31/12/00)

          The amount has been determined by the Board in accordance with the
          rules of the Plan and will be paid at the end of February 2001. The
          amount payable is US$934,400, which will be converted into 23,250
          DSUs.

     --   EPA PAYMENT (PERIOD 1/1/01 TO 15/2/01)

          As provided under the Plan, an amount of US$106,250 representing 100%
          of the target bonus will be paid at the end of February 2001.

     --   MTIP PAYMENT (PERIOD 1/1/99 TO 31/12/00)

          As agreed, this program is deemed cancelled and no other payments are
          due or to be paid thereunder.

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ALCAN ALUMINIUM LIMITEE

                                                                            LOGO
5.   EMPLOYEE BENEFITS AND PERKS

     While on the non-active payroll for the purposes referred to above, the
     following miscellaneous benefits will continue to be available to you, but
     will be calculated, where applicable, on the specified reduced rate of
     compensation ($33,333 p.m.):

     --   Medical Plan
     --   Savings Plan
     --   Pension Plan (APP and ASRBP) - pension amount dealt with as referred
          to above (par. 3) Life Assurance Plan
     --   Perks (auto, club memberships, financial counseling)

     The following benefits cease on 15 February

     --   Eligibility for vacation accrual
     --   Eligibility for stock option
     --   Short and long-term disability programs

     Post retirement benefits normally available to all employees will be
     provided on retirement date.

6.   STATUS OF STOCK OPTIONS AND DEFERRED SHARE UNITS (DSUP)

     STOCK OPTIONS (OUTSTANDING OPTIONS)

     As you are eligible for retirement on 15 February 2001, the retirement
     provision of the Plan applies; that is, you may exercise any outstanding
     options on the earlier of 14 February 2006 (5 years) or to the end of the
     original period. All outstanding stock option loans for "A" options will be
     due and payable on the earlier of 14 February 2006 or on original maturity
     date. Furthermore, all waiting and holding periods are waived.

7.   DEFERRED SHARE UNIT PLAN (DSUP)

     While on the non-active payroll the provision of the Plan continues to
     apply. For purposes of the DSUP plan, you will be considered retired on the
     date you start receiving a pension from APP. Thus the distribution date of
     your accumulated DSUs will be at the end of the year following the year of
     retirement.

8.   RELEASE AND NON COMPETE AGREEMENTS

     The Board requests that you sign below to confirm your agreement with the
     foregoing as being the definitive settlement of all outstanding claims and
     rights of action which you may have against the Company and to confirm
     certain related undertakings on your part.

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ALCAN ALUMINIUM LIMITEE

                                                                            LOGO

On behalf of the Board of Directors, I thank you for your contribution and
dedication to the Group and wish you every success in your future endeavors.

                                               /s/  John Evans
                                 -----------------------------------------------
                                                  John Evans
                                            Chairman of the Board

I accept the terms and conditions set in this letter and in consideration
thereof:

1.   I give the Company full and final discharge and release and hereby waive
     all claims and demands, including for damages and costs, actions and causes
     of actions whatsoever, whether contractual or non-contractual arising out
     of or in connection with the termination of my employment contract.

2.   I acknowledge that my obligations with respect to the confidentiality of
     information regarding the Company and its business, affairs and assets
     shall remain binding and that I will not use any such information for the
     benefit of any party other than the Company.

3.   I acknowledge that until December 31, 2002 I will not be entitled to act as
     an employee, director of or officer of, advisor to or material investor in
     any corporation, partnership, person or other entity which carries on any
     business which is materially competitive with the Company's principal lines
     of business. Entities with such materially competitive businesses include
     those in respect of which a substantial part of the assets or revenues
     relate to:

     (i)  The mining or refining of bauxite, the production and sale of alumina
          or primary aluminum, the production and sale of aluminum products
          (such as can sheet, foil, litho sheet and other flat rolled products,
          wire and cable, castings and extrusions), the trading of aluminum or
          the production and sale of packaging products for tobacco,
          pharmaceutical, cosmetics, health care, food or beverage products.

     Since this paragraph 3 is intended to protect the interests of the Company
     and its shareholders, I understand that the Company, acting through its
     Board of Directors, will consider granting a waiver in respect of any
     opportunity I may have which would be in technical contravention of the
     foregoing but would not make my knowledge and wisdom with respect to the
     Company and its various businesses available to any entity which would be
     likely to have the opportunity to use same in a manner which would be
     materially detrimental to the interests of the Company or its shareholders.
     In this regard, I further confirm my understanding

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ALCAN ALUMINIUM LIMITEE

                                                                            LOGO

                                                                16 FEBRUARY 2001

     that should any such waiver be refused by the Company, I shall have the
     right to submit my request, in writing, with a copy of this letter
     agreement, to an independent third party who shall be, unless the Company
     and I otherwise agree, a retired judge of the Superior Court or Court of
     Appeal of the Province of Quebec. The third party shall take such steps as
     he or she considers reasonable to inform himself or herself as to the full
     nature of my request as well as the business and interests of the Company
     (including meeting with me and representatives of the Company should he or
     she consider it to be appropriate) provided that the decision shall be
     definitive and binding and rendered within no more then 14 days of the
     third party's acceptance to act in this matter. The expenses relating to
     the mandate of the third party shall be paid by the Company.

4.   For the purposes of the foregoing, the "Company" means Alcan Aluminium
     Limited as well as its subsidiaries, affiliates and joint ventures.

                                  /s/  Jacques Bougie
                              -----------------------------
                                       Jacques Bougie

Copies to:
Travis Engen
Gaston Ouellet

                                     Page 5<PAGE>   1
                                JOHNSON & JOHNSON

                             2000 STOCK OPTION PLAN

1.    PURPOSE

The purpose of the Johnson & Johnson 2000 Stock Option Plan (the "Plan") is to
promote the interests of Johnson & Johnson (the "Company") by ensuring
continuity of management and increased incentive on the part of officers and
executive employees responsible for major contributions to effective management,
through facilitating their acquisition of an equity interest in the Company on
reasonable terms.

2.    ADMINISTRATION

The Plan shall be administered by the Compensation Committee of the Board of
Directors (the "Committee"). The Committee shall consist of not less than three
directors. No person shall be eligible to continue to serve as a member of such
Committee unless such person is a "Non-Employee Director" within the meaning of
Rule 16b-3 of the General Rules and Regulations under the Securities Exchange
Act of 1934, as amended, and an "outside director" within the meaning of Section
162(m) of the Internal Revenue Code of 1986, as amended (the "Internal Revenue
Code"). Committee members shall not be eligible to participate in the Plan while
members of the Committee. The Committee shall have the power to select
optionees, to establish the number of shares and other terms applicable to each
such option, to construe the provisions of the Plan, and to adopt rules and
regulations governing the administration of the Plan.

The Board of Directors, within its discretion, shall have authority to amend the
Plan and the terms of any option issued hereunder without the necessity of
obtaining further approval of the shareowners, unless such approval is required
by law. Notwithstanding the foregoing, except for any stock split, adjustment or
other change in the corporate structure or shares of the Company as contemplated
under Section 6(A)(v) hereof, the Company shall neither lower the exercise price
of any option granted under the Plan nor grant any option hereunder in
replacement of an option which had previously been granted at a higher exercise
price, without the approval of the shareowners.

3.    ELIGIBILITY

Those eligible to participate in the Plan will be selected by the Committee from
the following:

(1) Directors who are employees of the Company or its domestic subsidiaries
(excluding members from time to time of the Committee).

(2) Officers and other key employees of the Company and its domestic
subsidiaries.

(3) Key employees of subsidiaries outside the United States.

(4) Key employees of a joint venture operation of the Company or its
subsidiaries and key employees of joint venture partners who are assigned to
such a joint venture.

In all cases, optionees shall be selected on the basis of demonstrated ability
to contribute substantially to the effective management or financial performance
of the Company or its subsidiaries.
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In no event shall an option be granted to any individual who, immediately after
such option is granted, is considered to own stock possessing more than 10% of
the combined voting power of all classes of stock of Johnson & Johnson or any of
its subsidiaries within the meaning of Section 422 of the Internal Revenue Code.

4.    ALLOTMENT OF SHARES

The amount of Common Stock of the Company (par value $1.00 per share) that may
be made subject to grants of options under the Plan in any calendar year shall
not exceed an amount equal to 1.6 percent of the issued shares of the Company's
Common Stock (including Treasury Shares) on January 1 of such year, plus (i) the
number of shares that were available for grants in the previous year under the
Plan but were not made subject to a grant in such previous year and (ii) the
number of shares that were covered by options granted under the Plan which
options lapsed, expired or terminated in the previous year without being
exercised. Notwithstanding the foregoing, no more than 75 million shares in the
aggregate shall be available for issuance as incentive stock options under the
Plan.

The total number of shares which may be awarded under the Plan to any optionee
in any one year shall not exceed the lesser of (x) 5% of the total shares
allotted to the Plan for such year and (y) 2 million shares. The Committee may,
in its discretion, issue upon exercise of any option Treasury Shares or
authorized but unissued shares.

5.    EFFECTIVE DATE AND TERM OF PLAN

The Plan, if approved by the shareowners of the Company, shall become effective
on April 19, 2000. No option shall be granted pursuant to this Plan later than
April 18, 2005, but the rights of optionees under options theretofore granted to
them will not be affected, and all unexpired options will continue in force and
operation thereafter, except as such options may lapse or be terminated in
accordance with their terms and conditions.

6.    TERMS AND CONDITIONS

A.    ALL OPTIONS

      The following shall apply to all options granted under the Plan:

      (i)  Option Price

                The option price per share for each stock option shall be
      determined by the Committee and shall not be less than the fair market
      value on the date the option is granted. The fair market value shall be
      determined as prescribed by the Internal Revenue Code and Regulations.

      (ii)  Time of Exercise of Option

                The Committee shall establish the time or times within the
      option period when the stock option may be exercised in whole or in such
      parts as may be specified from time to time by the Committee. With respect
      to an optionee whose employment has terminated by reason of death,
      disability or retirement, the Committee may in its discretion accelerate
      the time or times when any particular stock option held by said optionee
      may be so exercised so that such time or times are earlier than those
      originally provided in said option. In all cases exercise of a
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      stock option shall be subject to the provisions of Section 6B(ii) or
      6C(iii), as the case may be. The Committee shall determine, either at the
      time of grant or later, whether and to what extent and under what
      circumstances, the delivery of shares issuable in connection with the
      exercise of a non-qualified option may be deferred at the election of the
      optionee.

      (iii)   Payment

              The entire option price may be paid at the time the option is
      exercised. When an option is exercised prior to termination of employment,
      the Committee shall have the discretion to arrange for the payment of such
      price, in whole or in part, in installments. In such cases, the Committee
      shall obtain such evidence of the optionee's obligation, establish such
      interest rate and require such security as it may deem appropriate for the
      adequate protection of the Company.

      (iv)    Non-Transferability of Option

              Unless otherwise specified by the Committee to the contrary, an
      option by its terms shall not be transferable by the optionee otherwise
      than by will or by the laws of descent and distribution and shall be
      exercisable during the optionee's lifetime only by the optionee. The
      Committee may, in the manner established by the Committee, provide for the
      transfer, without payment of consideration, of a non-qualified option by
      an optionee to a member of the optionee's immediate family or to a trust
      or partnership whose beneficiaries are members of the optionee's immediate
      family. In such case, the option shall be exercisable only by such
      transferee. For purposes of this provision, an optionee's "immediate
      family" shall mean the holder's spouse, children and grandchildren.

      (v)     Adjustment in Event of Recapitalization of the Company

              In the event of a reorganization, recapitalization, stock split,
      stock dividend, combination of shares, merger, consolidation, rights
      offering, or any other change in the corporate structure or shares of the
      Company, the Board of Directors shall make such adjustment as it may deem
      equitably required in the number and kind of shares authorized by and for
      the Plan, the number and kind of shares covered by the options granted,
      the number of shares which may be awarded to an optionee in any one year,
      and the option price.

      (vi)    Rights after Termination of Employment

            (1)   In the event of termination of employment due to any cause
                  other than death, disability or retirement, rights to exercise
                  the stock option shall cease, except for those which have
                  accrued to and including the "date of termination" (as defined
                  below), unless the Committee shall otherwise specify. These
                  rights shall remain exercisable for a period of three (3)
                  months after the date of termination, or such longer period
                  (not to exceed three (3) years) as the Committee shall
                  provide.

            (2)   In the event of termination of employment due to death or
                  disability, rights to exercise the stock option shall cease,
                  except for those which have accrued to and including the date
                  of termination, unless the Committee shall otherwise specify.
                  These rights shall remain exercisable for a period of three
                  (3) years or such longer period (not to exceed the term of the
                  option) as the Committee shall provide.
<PAGE>   4
                  Notwithstanding the above, in the event such termination of
                  employment due to death or disability occurs with optionee
                  having at least ten (10) years of service, any unexercised or
                  unexercisable portion of the stock option may be exercised in
                  whole or in part during the remaining term of the option at
                  such times and to the extent the optionee could have exercised
                  such stock option had the optionee's employment not
                  terminated.

            (3)   In the event of retirement (unrelated to termination for
                  cause, as defined below, which shall be governed by the
                  provisions of (1) above) rights to exercise the stock option
                  shall cease, except for those which have accrued to and
                  including the date of termination, unless the Committee shall
                  otherwise specify. These rights shall remain exercisable for a
                  period of three (3) years, or such longer period (not to
                  exceed the term of the option) as the Committee shall provide,
                  provided, however, that in the event the optionee is "employed
                  by a competitor" (as defined below) within two (2) years from
                  the date of such retirement, no rights may be exercisable
                  beyond a date which is three (3) months after the commencement
                  of such employment with a competitor.

                  Notwithstanding the above, in the event such retirement
                  (unrelated to termination for cause which shall be governed by
                  the provisions of (1) above) occurs with optionee having at
                  least ten (10) years of service, any unexercised or
                  unexercisable portions of the stock option may be exercised in
                  whole or in part during the remaining term of the stock option
                  at such times and to the extent the optionee could have
                  exercised such stock option had the optionee's employment not
                  terminated, provided, however, that in the event the optionee
                  is employed by a competitor within two (2) years from the date
                  of such retirement, (i) any unexercisable portion of the stock
                  option shall terminate immediately and (ii) no rights may be
                  exercisable beyond a date which is three (3) months after the
                  commencement of such employment with a competitor.

            (4)   No stock option shall, in any event, be exercised after the
                  expiration of 10 years from the date such option is granted,
                  or such earlier date as may be specified in the option. In
                  addition, any stock option granted within six (6) months of
                  termination of employment due to any cause whatsoever shall be
                  void unless the Committee shall otherwise provide.

            (5)   As used in the Plan:

                  (i) The term "termination for cause" shall mean optionee's
                  termination by the Company or any of its subsidiaries in
                  connection with the violation of any federal or state law,
                  dishonesty, the willful and deliberate failure on the part of
                  an optionee to perform his/her employment duties in any
                  material respect or such other events, including the existence
                  of a conflict of interest, as the Management Compensation
                  Committee may determine. Such committee shall have the sole
                  discretion to determine whether a "termination for cause"
                  exists, and its determination shall be final.

                  (ii) The term "employed by a competitor" shall mean the
                  optionee's engaging in any activity or providing services,
                  whether as director, employee, advisor, consultant or
                  otherwise, for any corporation or
<PAGE>   5
                  other entity which is a competitor of the Company or any of
                  its subsidiaries. The Management Compensation Committee shall
                  have the sole discretion to determine if an optionee is
                  "employed by a competitor", and its determination shall be
                  final.

                  (iii) The term "date of termination" shall mean the last date
                  on which the optionee was in an active employment status.
                  Specifically, in the event an optionee is covered by a
                  severance agreement or arrangement, the "date of termination"
                  shall be the last day date of active employment, not the date
                  corresponding to the end of the severance period.

B.    NON-QUALIFIED STOCK OPTIONS

      The Committee may, in its discretion, grant options under the Plan which,
in whole or in part, do not qualify as incentive stock options under Section 422
of the Internal Revenue Code. In addition to the terms and conditions set forth
in Section 6A above, the following terms and conditions shall govern any option
(or portion thereof) to the extent that it does not so qualify.

      (i)   Form of Payment

            Payment of the option price of any option (or portion thereof) not
      qualifying as an incentive stock option shall be made in cash or, in the
      discretion of the Committee, in the Common Stock of the Company valued at
      its fair market value (as the same shall be determined by the Committee),
      or a combination of such Common Stock and cash. Where payment of the
      option price is to be made with Common Stock acquired under a Company
      compensation plan (within the meaning of Opinion No. 25 of the Accounting
      Principles Board), such Common Stock will not be accepted as payment
      unless the optionee has beneficially owned such Common Stock for at least
      six months (increased to one year if such Common Stock was acquired under
      an incentive stock option) prior to such payment.

      (ii)  Period of Option

            The exercise period of each non-qualified stock option by its terms
      shall not be more than 10 years from the date the option is granted as
      specified by the Committee.

C.    INCENTIVE STOCK OPTIONS

      The Committee may, in its discretion, grant options under the Plan which
qualify in whole or in part as incentive stock options under Section 422 of the
Internal Revenue Code. In addition to the terms and conditions set forth in
Section 6A above, the following terms and conditions shall govern any option (or
portion thereof) to the extent that it so qualifies:

      (i)   Maximum Fair Market Value of Incentive Stock Options

            The aggregate fair market value (determined as of the time such
      option is granted) of the Common Stock for which any optionee may have
      stock options
<PAGE>   6
      which first become vested in any calendar year (under all incentive stock
      option plans of the Company and its subsidiaries) shall not exceed
      $100,000.

      (ii)  Form of Payment

            Payment of the option price for incentive stock options shall be
      made in cash or in the Common Stock of the Company valued at its fair
      market value (as the same shall be determined by the Committee), or a
      combination of such Common Stock and cash. Where payment of the option
      price is to be made with Common Stock acquired under a Company
      compensation plan (within the meaning of Opinion No. 25 of the Accounting
      Principles Board), such Common Stock will not be accepted as payment
      unless the optionee has beneficially owned such Common Stock for at least
      six months (increased to one year if such Common Stock was acquired under
      an incentive stock option) prior to such payment.

      (iii) Period of Option

            The exercise period of each incentive stock option by its terms
      shall not be more than 10 years from the date the option is granted as
      specified by the Committee.

02.16.00

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