Document:

S-8

Exhibit 4.1(a)  

RULES

OF

THE BP 

SHARE OPTION PLAN 

	 			 
	 			 
	 			 
	 			 
	 			 
	 	Shareholders' Approval:	25 November 1998	 
	 	 
	 	Committee's Adoption:	25 November 1998	 
	 	 
	 	Expiry Date:	24 November 2008	 
	 	 
	 	Incorporating Amendments to:	November 2002	 

Linklaters

One Silk Street

London EC2Y 8HQ

Telephone (44-20) 7456 2000

Facsimile (44-20) 7456 2222 

Table of Contents 

			
			
			
			
			
	Contents 	Page  
	 
	1	Meanings Of Words Used	2 
	 
	2	Grant Of Options	3 
	 
	3	Option Price	5 
	 
	4	Scheme Limits	5 
	 
	5	Variations In Share Capital	6 
	 
	6	Exercise And Lapse - General Rules	6 
	 
	7	Exercise And Lapse - Exceptions to the General Rules	7 
	 
	8	Exchange Of Options	11 
	 
	9	Exercise Of Options	11 
	 
	10	General	13 
	 
	11	Changing the Plan and Termination	15 
	 
	12	Governing Law	16 

1

RULES OF THE BP SHARE
OPTION PLAN 

	1  	Meanings
Of Words Used  

	 	
In
these Rules: 

	 	
“ADS”
means an American depository share, or part thereof, representing six ordinary shares
of the Company;  

	 	
“Business
Day” means a day on which the London Stock Exchange or as the context requires
the NYSE are open for the transaction of business;  

	 	
“Control” has
the meaning in Section 840 of the Income and Corporation Taxes Act 1988;  

	 	
“Company” means
BP p.l.c.;  

	 	
“Date
of Grant” means the date on which the Committee resolves to grant an Option;  

	 	
“Committee” means
a Committee or Committees duly authorised to operate the Plan and in the case of
directors of the Company shall mean the Remuneration Committee or an authorised
sub-committee of it;  

	 	
“Eligible
Employee” means any person who is an employee of a Participating Company and who
on the Date of Grant is not an executive director of the Company.  

	 	
“Exercise
Condition” means a condition or conditions imposed under Rule 2.3;  

	 	
“the
London Stock Exchange” means The International Stock Exchange Limited;  

	 	
“Member
of the Group” means:  

	 	(i) 	the
Company; and 

	 	(ii) 	its
Subsidiaries from time to time; and 

	 	(iii) 	any
other company which is associated with the Company and is designated by the
               Committee as a Member of the Group; 

	 	
“Model
Code” means the Model Code of the Financial Services Authority for transactions
in securities by directors, certain employees and persons connected with them; 

	 	
“NYSE” means
the New York Stock Exchange Inc.;  

	 	
“Option” means
a right to acquire Shares granted under the Plan;  

	 	
“Optionholder” means
a person holding an Option or his Personal Representatives;  

	 	
“Option
Period” means a period starting on the Date of Grant of an Option and ending at
the end of the day before the 10th anniversary of the Date of Grant or such shorter
period as may be specified on the Date of Grant;  

	 	
“Option
Price” means the amount payable for each Share on the exercise of an Option
calculated as described in Rule 3;  

2

	 	
“Participating
Companies” means:  

	 	(i) 	the
Company; and 

	 	(ii) 	any
Subsidiary and any other company which is designated by the Committee as a
               Participating Company. 

	 	
“Personal
Representatives” means any person or persons who have obtained a valid UK grant
of representation or any other person whom the Committee decides may exercise the Option
after the death of the Optionholder subject to the prior satisfaction of any conditions
that the Committee may determine; 

	 	
“Plan”
means this plan known as “The BP Share Option Plan” constituted by this document
as may be amended from time to time; 

	 	
“Rules” means
the rules of the Plan as changed from time to time;  

	 	
“Shares”
means fully paid ordinary shares or securities representing ordinary shares in the Company
or, as the context may require, ADSs; 

	 	
“Subsidiary”
means a company which is a subsidiary of the Company within the meaning given by Section
736 of the Companies Act 1985. 

	2  	Grant
Of Options  

	2.1  	Grant
of Options:  

	 	
The
Committee may grant to any Eligible Employee an Option to acquire such number of Shares or
ADSs as it may determine. 

	2.2  	Time
when Options may be granted:  

	 	2.2.1  	Options
may only be granted within 42 days starting on any of the following:

	 	(i) 	the
adoption of the Plan; 

	 	(ii) 	the
day after the announcement of the Company’s results to the London Stock
               Exchange for any period; 

	 	(iii) 	any
day on which the Committee resolves that exceptional circumstances exist
               which justify the grant of Options; or 

	 	(iv) 	any
day on which changes to the legislation or regulations affecting share
               option schemes are announced, effected or made. 

		2.2.2 	
The Committee may only grant Options between the adoption of the Plan and the 10th
anniversary of that date. 

		2.2.3 	
The Committee may not grant Options at any time which would cause the Option Price to be
calculated by reference to any days on or before the announcement of results. 

		2.2.4 	
If the Committee cannot grant any Options due to restrictions imposed by statute, order,
regulation or government directive, or by any code adopted by the Company based on the
Model Code, the Committee may grant Options within 42 days after the lifting of such
restrictions. 

3

	2.3  	Exercise
Condition:  

	 	
When
granting an Option, the Committee may make its exercise conditional on the satisfaction of
Exercise Conditions. The Exercise Conditions must be objective, and specified at the Date
of Grant. The Committee may waive or change the Exercise Conditions if anything happens
which causes the Committee to consider that: 

	 	2.3.1  	changed
Exercise  Conditions  would be a fairer measure of performance,  and would be no less
                 difficult to satisfy; or

	 	2.3.2  	the
Exercise Conditions should be waived.

	2.4  	Evidence
of Option:  

	 	
An
Option shall be evidenced by deed in such form as the Committee determines.  

	2.5  	No
Payment:  

	 	
Optionholders
are not required to pay for the grant of any Option.  

	2.6  	Disclaimer
of Option:  

	 	
Any
Optionholder may disclaim all or part of his Option by notice in writing to the person
nominated by the Committee for this purpose, within 80 days after the Date of Grant. If
this happens the Option will be deemed never to have been granted under the Plan. No
consideration is payable for the disclaimer. 

	2.7  	Disposal
restrictions:  

	 	
Except
for the transmission of an Option on the death of an Optionholder to his personal
representatives, neither an Option nor any rights in respect of it may be transferred,
assigned or otherwise disposed of by an Optionholder to any other person. 

	2.8  	Administrative
errors:  

	 	
If
the Committee tries to grant an Option which is inconsistent with the Plan, the Option
will be limited and will take effect from the Date of Grant on a basis consistent with the
Plan. 

	2.9  	Options
over ADSs:  

	 	
The
Committee may determine, in its absolute discretion, to grant Options in the form of an
Option to acquire ADSs and references in these Rules to Share, Option, Option Price etc.
shall be construed accordingly. Upon the exercise of any Option to acquire ADSs the
Company will: 

          	 	(i) 	
               deliver or cause to be delivered to the ADS depository the requisite number of
               Shares representing the relevant ADSs and shall instruct the depository to issue
               the corresponding American depository receipts evidencing such ADSs to the
               exercising Optionholder; or 

               

          	 	(ii) 	
               make other arrangements for the Optionholder to acquire ADSs. 

               

4

	3  	Option
Price  

	3.1  	Setting
the Price:  

	 	
The
Committee will set the Option Price. The Option Price, which may be expressed in sterling
or in US dollars, will be: 

	 	3.1.1  	not
less than the market value of a Share on the Date of Grant; and

	 	3.1.2  	if
the Shares are to be subscribed, not less than the nominal value of a Share.

	3.2  	Market
value:  

	 	
“Market
value” for the purpose of Rule 3.1 on any particular day means:  

		3.2.1 	
the middle market quotation (as derived from the Daily Official List of the London Stock
Exchange) on the immediately preceding Business Day; or 

	 	3.2.2  	if
 the  Committee  so  decides,  the  average  of  the  middle  market  quotations  on the
3                  immediately preceding Business Days; or

		3.2.3 	
where the Option Price to acquire ADSs is expressed in US dollars, the closing price as
derived from the NYSE on the immediately preceding Business Day or, if the Committee so
decides, the average of such prices for the 3 immediately preceding Business Days. 

	4  	Scheme
Limits  

	4.1  	10
per cent. 10 year limit (all schemes):  

	 	
The
number of Shares which may be allocated under the Plan on any day will not exceed 10 per
cent. of the ordinary share capital of the Company in issue immediately before that day,
when added to the total number of Shares which have been allocated in the previous 10
years under the Plan and any other employee share scheme operated by the Company. 

	4.2  	5
per cent. 10 year limit (discretionary schemes):  

	 	
The
number of Shares which may be allocated under the Plan on any day will not exceed 5 per
cent. of the ordinary share capital of the Company in issue immediately before that day,
when added to the total number of Shares which have been allocated in the previous 10
years under the Plan and any other discretionary share scheme adopted by the Company. 

	4.3  	5
per cent. limit 5 year limit (all schemes):  

	 	
The
number of Shares which may be allocated under the Plan on any day will not exceed 5 per
cent. of the ordinary share capital of the Company in issue immediately before that day,
when added to the total number of Shares which have been allocated in the previous 5 years
under the Plan and any other employee share scheme adopted by the Company. 

	4.4  	3
per cent. 3 year limit (discretionary schemes):  

	 	
The
number of Shares which may be allocated under the Plan on any day will not exceed 3 per
cent. of the ordinary share capital of the Company in issue immediately before that day,
when added to the total number of Shares allocated during the previous 3 years under the
Plan and any other discretionary share scheme adopted by the Company. 

5

	4.5  	Exclusions:  

	 	
Where
the right to acquire such Shares was released or lapsed without being exercised, the
Shares concerned will be ignored when calculating the limits in this Rule. 

	4.6  	Meaning
of Allocate:  

	 	
“Allocate”
means, in relation to any share option scheme, placing unissued Shares under option and,
in relation to other types of employee share scheme, the issue and allotment of Shares. 

	5  	Variations
In Share Capital  

	5.1  	Adjustment
of Options:  

	 	
If
there is a variation in the equity share capital of the Company, including a
capitalisation or rights issue, sub-division, consolidation or reduction of share capital,
a demerger (in whatever form) or if the Company makes a special distribution including a
distribution in specie: 

	 	5.1.1  	the
number or nominal amount of Shares comprised in each Option; and/or

	 	5.1.2  	the
Option Price; 

	 	
may
be  adjusted  in any  way  (including  retrospective  adjustments)  which  the  Committee
         considers appropriate. 

	5.2  	Nominal
Value:  

	 	
The
Option Price of an Option to acquire existing Shares may be adjusted to a price which is
less than the nominal value. The Option Price of an Option to subscribe for new Shares may
only be adjusted to a price less than the nominal value if the Committee resolves to
capitalise the reserves of the Company in an amount equal to the difference between the
adjusted Option Price and the nominal value of the Shares on the date of allotment. 

	5.3  	Notice:  

	 	
The
Committee may notify Optionholders of any adjustment made under this Rule 5.  

	6  	Exercise
And Lapse – General Rules  

	6.1  	Exercise:  

	 	
Except
where exercise is allowed as described in Rule 7 and unless specified otherwise by the
Committee on the Date of Grant, an Option can only be exercised: 

	 	6.1.1  	on
or after the third anniversary of its Date of Grant;

	 	6.1.2  	if
any Exercise Condition is satisfied or waived; and

	 	6.1.3  	so
long as the Optionholder is a director or employee of a Member of the Group.

	6.2  	Lapse:  

	 	
An
Option will lapse on the earliest of:  

	 	6.2.1  	the
date the  Optionholder  ceases to be a  director  or  employee  of a Member of the Group,
                 unless any of the provisions in Rule 7 apply;

6

	 	6.2.2  	any
date specified in any Exercise Condition; or

	 	6.2.3  	the
expiry of the Option Period.

	 	
For
the purposes of Rule 6.2.1 above:  

          	 	(i) 	
               a woman who leaves employment due to pregnancy will be regarded as having left
               employment on the date on which she indicates that she does not intend to return
               to work. If there is no such indication she will be regarded as having left
               employment on the last day on which she is entitled to return to work under the
               legislation which applies to the Optionholder or, if later, any other date
               specified in her terms of employment; 

               

          	 	(ii) 	
               an Optionholder will not be treated as ceasing to be a director or employee of a
               Member of the Group if on that date he is employed by another Member of the
               Group. 

               

	7  	Exercise
And Lapse – Exceptions to the General Rules  

	7.1  	Cessation
of Employment:  

		7.1.1 	
If an Optionholder ceases to be a director or an employee of any Member of the Group for
any of the reasons set out below then, unless specified otherwise by the Committee on the
Date of Grant, his Options will not lapse but may be exercised during the period of six
months from the date of cessation even though any Exercise Conditions have not been
satisfied. The Committee may at any time extend the period during which an Option may be
exercised under this Rule 7.1. However, an Option may not be exercised after the expiry of
the Option Period. The reasons are: 

               	 	(i) 	
                    ill-health, injury, disability or redundancy (company induced severance); 

                    

               	 	(ii) 	
                    retirement; 

                    

               	 	(iii) 	
                    early retirement by agreement with the Optionholder’s employer; 

                    

               	 	(iv) 	
                    his employing company ceasing to be under the control of the Company, or as a
                    result of a transfer of the undertaking in which the Optionholder works to a
                    person who is neither under the control of the Company nor a Member of the
                    Group; 

                    

               	 	(v) 	
                    any other reason specified by the Committee in their absolute discretion. 

                    

	7.2  	Death:  

	 	
If
an Optionholder dies, his Options may be exercised by his Personal Representatives within
one year of his death, irrespective of the satisfaction of any Exercise Condition. To the
extent that any Option exercisable under this Rule 7.2 is not so exercised, it will lapse
at the end of the one year period. This Rule does not extend the Option Period. 

	7.3  	Takeovers:  

	 	
If
a person (or a group of persons acting in concert) obtains Control of the Company as a
result of making an offer to acquire shares which is either unconditional or is made on a
condition such that if it is satisfied the person making the offer will have Control of
the Company, Options may be exercised, irrespective of the satisfaction of any Exercise
Condition, within the 6 month period after the person making the offer has obtained
Control of the Company and any condition subject to which the offer is made has been
satisfied. 

7

	 	
The
Options will lapse at the end of the 6 month period, unless the Committee gives reasonable
notice to the Optionholders before the end of the 6 month period that the Options will not
lapse. 

	 	
If
someone becomes bound or entitled to acquire Shares under Section 428 to 430F of the
Companies Act 1985, Options may be exercised, irrespective of the satisfaction of any
Exercise Condition, at any time when that person remains so bound or entitled and then
will lapse. If more than one period is relevant the Options will lapse at the end of the
later period, unless the Committee gives notice to the Optionholders before the expiry of
the relevant period that the Options will not lapse. 

	7.4  	Company
Reconstructions:  

	 	
If
under Section 425 of the Companies Act 1985 a court directs that a meeting of the holders
of Shares be convened to consider a scheme of arrangement involving the reconstruction of
the Company or its amalgamation with any other company or companies: 

		7.4.1 	
Optionholders may conditionally exercise their Options, irrespective of the satisfaction
of any Exercise Condition, at any time between the date of the court’s direction and
12 noon on the day before the day of the shareholders’ meeting. Any Option not
exercised by the end of that period will become unexercisable and will lapse; and 

		7.4.2 	
the Committee will try to arrange for the proposals relating to the holders of the Shares
to apply to each Optionholder who conditionally exercises his Options as described above. 

	7.5  	Demergers
and other significant distributions:  

	 	
If
the Committee becomes aware that the Company is or is expected to be affected by any
demerger, dividend in specie, super dividend or other transaction which, in the opinion of
the Committee, would affect the current or future value of any Option, the Committee, may,
acting fairly, reasonably and objectively, in its discretion, allow some or all Options to
be exercised. The Committee will specify the period of exercise of such Options, whether
the Options will lapse at the end of the period, and whether exercise is subject to
satisfaction of any Exercise Condition. In exercising its discretion, the Committee may
take into account considerations relating to the Company and other Members of the Group,
and other employees and Optionholders. The Committee will notify any Optionholder who is
affected by this Rule. 

	7.6  	Winding-Up:  

	 	
If
notice is duly given to members of the Company of a resolution for the voluntary
winding-up of the Company, Options may be exercised, irrespective of the satisfaction of
any Exercise Condition, until the start of the winding-up within the meaning of the
Insolvency Act 1986 (but the exercise of any Option in these circumstances will be of no
effect if the resolution is not passed). All Options will lapse on a winding-up of the
Company unless exercised before the winding-up starts. 

8

	 	
If
the Company is wound-up by the court, Options may be exercised, irrespective of the
satisfaction of any Exercise Condition, within 2 months after the date of the winding-up
order. However, the liquidator or the court (if appropriate) must authorise the issue of
Shares after such exercise, and the Optionholder must apply for this authority and pay his
application costs. Any Options not exercised during the 2 month period will lapse at the
end of the period. 

	7.7  	Administration:  

	 	
If
an administration order is made in relation to the Company, Optionholders may exercise
their Options, irrespective of the satisfaction of any Exercise Condition, within 6 weeks
after the date of the administration order. However, the administrator or the court must
authorise the issue of Shares after such exercise. 

	7.8  	Voluntary
Arrangement:  

	 	
If
a voluntary arrangement is proposed in relation to the Company under Part I of the
Insolvency Act 1986, Optionholders may exercise their Options, irrespective of the
satisfaction of any Exercise Condition, within 14 days after the date of sending of any
notices of meeting called under Section 3 of the Insolvency Act 1986 in relation to such
proposal. 

	7.9  	Exchange
of Options where Rule 8 does not apply  

	 	7.9.1  	Application: 

	 	
This
Rule applies if a company (the “Acquiring Company”):  

	 	(i) 	obtains
Control of the Company as a result of making a general offer to acquire:  

	 	— 	
the whole of the issued ordinary share capital of the Company (other than that which is
already owned by it and its subsidiary or holding company) made on a condition such that,
if satisfied, the Acquiring Company will have Control of the Company; or 

	 	—	all
the Shares (or those Shares not already owned by the Acquiring  Company or its subsidiary
                                or holding company); or 

               	 	(ii) 	
                    obtains Control of the Company under a compromise or arrangement sanctioned by
                    the court under Section 425 of the Companies Act 1985; or 

                    

               	 	(iii) 	
                    becomes bound or entitled to acquire Shares under Sections 428 to 430F of the
                    Companies Act 1985 

                    

	 	
and
no determination is made by the Committee under Rule 8.  

	 	7.9.2  	Exchange: 

	 	
If
any of the events described in Rule 7.9.1 happens, an Optionholder may, during the period
referred to in Rule 7.9.3, agree with the Acquiring Company to release his Option in
consideration of the grant to him of a new option. The new option must be equivalent to
the released option. 

	 	7.9.3  	Period
for Substitution: 

	 	
The
period referred to in Rule 7.9.2 is:  

9

               	 	(i) 	
                    in a case falling within Rule 7.9.1.(i), 6 months starting with the time when
                    the Acquiring Company obtains Control of the Company and any condition subject
                    to which the offer is made is satisfied; 

                    

               	 	(ii) 	
                    in a case falling within Rule 7.9.1(ii), 6 months starting with the time when
                    the court sanctions the compromise or arrangement; and 

                    

               	 	(iii) 	
                    in a case falling within Rule 7.9.1(iii) the period during which the Acquiring
                    Company remains so bound or entitled. 

                    

	 	7.9.4  	Consequences
of Exchange: 

	 	
Where
an Optionholder is granted a new option for release of his old option as described in this
Rule 7, then: 

               	 	(i) 	
                    the new option will be treated as having been acquired at the same time as the
                    old Option and be exercisable in the same manner and at the same time as the old
                    Option; 

                    

               	 	(ii) 	
                    the new option will be subject to the provisions of the Scheme as it had effect
                    in relation to the old option immediately before the release but 11.1.2 will not
                    apply. In addition, in relation to any Inland Revenue approved options, the
                    Inland Revenue may agree other changes; 

                    

               	 	(iii) 	
                    with effect from the release and grant, the Rules will where relevant be
                    construed, in relation to the new option as if references to the Company and
                    Shares were references to the Acquiring Company and shares for which the new
                    option is granted. 

                    

	7.10  	Loss
of ownership:  

	 	
Where
the Optionholder is deprived of the legal or beneficial ownership of the Option by
operation of law, or does anything or omits to do anything which causes him to be so
deprived or becomes bankrupt, all his Options will lapse. 

	7.11  	Transfers:  

	 	
If
an Optionholder is transferred to work in another country, but still continues to hold an
office or employment with a Member of the Group and, as a result of that transfer, the
Optionholder may either: 

	 	7.11.1  	suffer
a tax  disadvantage  in  relation to his Options  which was not  anticipated  on grant
                 (this being shown to the satisfaction of the Committee); or

		7.11.2 	
become subject to restrictions on his ability to exercise his Options or to hold or deal
in the Shares or the proceeds of the sale of the Shares acquired on exercise because of
the security laws or exchange control laws of the country to which he is transferred; 

	 	
the
Optionholder may exercise the Option, irrespective of the satisfaction of any Exercise
Condition, during the period starting 3 months before and ending 3 months after the
transfer takes place. If he does not exercise his Options, following this Rule, the usual
exercise Rules will apply to them at the appropriate times. 

10

	7.12  	Priority:  

	 	
If
there is any conflict between any of the provisions of Rules 6 and 7, the provision which
results in the shortest exercise period or the earliest lapse of the Option, or both, will
prevail. 

	8  	Exchange
Of Options  

	8.1  	Application:  

	 	
This
Rule applies if Options would become exercisable under Rules 7.3, 7.4, 7.5 or 7.6 but the
Committee determines that the Options shall not be exercised but that this Rule 8 shall
apply. 

	8.2  	Exchange:  

	 	
Where
the Committee has made a determination under Rule 8.1 Optionholders will be granted an
option (“New Option”) to replace their Option (“Old Option”). 

	8.3  	Consequences
of Exchange:  

	 	
Where
Optionholders are granted a New Option to replace their Old Option, then:  

	 	8.3.1  	the
New  Option  will be in  respect  of  shares  in any  body  corporate  determined  by the
                 Committee;

	 	8.3.2  	the
New Option will be equivalent to the Old Option;

		8.3.3 	
the New Option will be treated as having been acquired at the same time as the Old Option
and be exercisable in the same manner and at the same time as the Old Option; 

		8.3.4 	
the New Option will be subject to the provisions of the Plan as it had effect in relation
to the Old Option immediately before the replacement; 

		8.3.5 	
with effect from the replacement the Plan will be construed, in relation to the New Option
as if references to Shares were references to the shares for which the New Option is
granted and references to the Company were references to a company determined by the
Committee at the time of replacement. 

	9  	Exercise
Of Options  

	9.1  	Exercise:  

	 	
An
Optionholder can exercise his Option validly only in the way described in, and subject to,
this Rule 9. 

	9.2  	Manner
of Exercise:  

	 	
Options
must be exercised by notice in writing or in such other form (including e-mail or other
electronic means) specified by the Committee and delivered to the person nominated by the
Committee for this purpose. The notice of exercise of the Option must be completed and in
the case of a written notice signed by the Optionholder or by his appointed agent, and
must be accompanied by correct payment in full of the Option Price for the number of
Shares being acquired or details of arrangements agreed between the Optionholder and the
Company made for the payment of the Option Price for the number of Shares being acquired. 

11

	9.3  	Option
Exercise Date:  

	 	9.3.1  	Subject
to Rule 9.3.2 the Option Exercise Date will be the later of:-

               	 	(i) 	
                    the date of receipt by the person nominated by the Committee for this purpose of
                    the documents and payment referred to in Rule 9.2; and 

                    

               	 	(ii) 	
                    the date on which the Committee either decide that the Exercise Condition to
                    which the Option is subject has been satisfied, or waive the Exercise Condition.
                    The Committee must decide about the satisfaction or waiver of the Exercise
                    Condition within 14 days of receiving the documents in Rule 9.2 and payment. 

                    

		9.3.2 	
If any statute, regulation or code adopted by the Company (based on the Model Code),
prohibits the exercise of Options, or the Company Secretary reasonably believes it so
prohibits, the date of exercise will be either the date described in Rule 9.3.1, or, if
later, the date when the Optionholder is permitted or the Company Secretary believes the
Optionholder is permitted to exercise an Option. However, this Rule does not extend any
period in which an Option is exercisable. 

	9.4  	Part
Exercise:  

	 	
An
Option may be exercised in part.  

	9.5  	Issue
or Transfer:  

	 	
Subject
to Rule 9.7 (consents):  

		9.5.1 	
Shares to be issued following the exercise of an Option will be issued within 30 days of
the Option Exercise Date. 

		9.5.2 	
The Committee will procure the transfer of Shares to be transferred following the exercise
of an Option within 30 days of the Option Exercise Date. 

	9.6  	Rights:  

		9.6.1 	
Shares issued on the exercise of an Option will rank equally in all respects with the
Shares in issue on the date of allotment. They will not rank for any rights attaching to
Shares by reference to a record date preceding the date of allotment. 

		9.6.2 	
Where Shares are to be transferred on the exercise of an Option, Optionholders will be
entitled to all rights attaching to the Shares by reference to a record date on or after
the transfer date. They will not be entitled to rights before that date. 

	9.7  	Consents:  

	 	
All
allotments, issues and transfers of Shares will be subject to any necessary consents under
any relevant enactments or regulations for the time being in force in the United Kingdom
or elsewhere and the provisions of the deposit agreement between the Company and the
depository. The Optionholder will be responsible for complying with any requirements to be
fulfilled in order to obtain or avoid the necessity for any such consent. 

12

	9.8  	Articles
of Association:  

	 	
Any
Shares acquired on the exercise of Options will be subject to the Articles of Association
of the Company from time to time in force. Any ADSs acquired upon the exercise of any
Option shall, in addition, be subject to the terms of the deposit agreement between the
Company and the depository. 

	9.9  	Listing:  

	 	
If
and so long as the Shares are listed on the Official List of the London Stock Exchange,
the Company will where relevant apply for listing of any Shares issued under the Plan as
soon as practicable after their allotment. 

	9.10  	Cash
alternative:  

	 	
The
Committee may in its discretion determine not to procure the transfer or issue of Shares
to an Optionholder who exercises his Option, but instead to pay to him (subject to Rule
10.10) a cash amount equal to the amount by which the market value (calculated in
accordance with Rule 3.2 on the Option Exercise Date) of the Shares in respect of which
the Option is exercised exceeds the Option Price, or to procure the transfer to him of
Shares to the value of that cash amount or apply that amount in the issue of Shares. If
the Committee so determines, the Option Price shall not be payable, and if already paid,
shall be repaid to the Optionholder forthwith. 

	 	
If
an Optionholder so requests, the Committee may determine to satisfy the exercise of any
Option with the appropriate number of ADSs. Any payment of taxes in respect of satisfying
an Option in this way will be met by the Optionholder. 

	10  	General  

	10.1  	Notices:  

	 	
Any
notice or other document which has to be given to an Eligible Employee or Optionholder
under or in connection with the Plan may be: 

	 	10.1.1  	delivered
 or sent by  post  to him at his  home  address  according  to the  records  of his
                 employing company; or

		10.1.2 	
sent by e-mail (or other electronic means) or fax to any e-mail address or fax number
which, according to the records of his employing company, is used by him; 

	 	
or
in either case such other address which the Company considers appropriate.  

	 	
Any
notice or other document which has to be given to the Company or other duly appointed
agent under or in connection with the Plan may be delivered or sent by post to it at its
respective registered office (or such other place as the Committee or the duly appointed
agent may from time to time decide and notify to Optionholders) or at the discretion of
the Committee sent by e-mail (or other electronic means) or fax to any e-mail address or
fax number notified to the sender. 

	 	
Notices
sent by post will be deemed to have been given on the earlier of the date of actual
receipt and the second day after the date of posting. However, notices sent by or to an
Optionholder who is working overseas will be deemed to have been given on the earlier of
the date of actual receipt and the seventh day after the date of posting. 

13

	 	
Notices
sent by e-mail (or other electronic means) or fax, in the absence of evidence of
non-delivery, will be deemed to have been received on the day after sending. 

	10.2  	Documents
sent to Shareholders:  

	 	
The
Company may send to Optionholders copies of any documents or notices normally sent to the
holders of its Shares (including such notices or documents required to be sent to
Optionholders resident in the United States in accordance with the rules and regulations
under the US Securities Act of 1934 as amended). 

	10.3  	Availability
of Shares:  

	 	
The
Company will keep available for allotment sufficient unissued Shares for all Options under
which Shares may be subscribed or will procure that sufficient Shares are available for
transfer for all Options under which Shares may be acquired. 

	10.4  	Committee’s
Decisions final and binding:  

	 	
The
decision of the Committee on the interpretation of the Rules or in any dispute relating to
an Option or matter relating to the Plan will be final and conclusive. 

	10.5  	Costs:  

	 	
The
Company will pay the costs of introducing and administering the Plan.  

	10.6  	Regulations:  

	 	
The
Committee has the power from time to time to make or vary regulations for the
administration and operation of the Plan but these must be consistent with the Rules. 

	10.7  	Terms
of Employment:  

	 	
Nothing
in this Plan will in any way be construed as imposing on a Participating Company a
contractual obligation as between the Participating Company and an Eligible Employee to
offer participation in this Plan. 

	 	
Any
person who ceases to be an employee of any Member of the Group because of dismissal or
termination of employment (however caused) or who is under notice of termination of
employment will in no circumstances be entitled to claim any compensation in respect of
the operation of the Plan including but not limited to the application of tax laws or the
application of tax policies maintained by any Group Company. If necessary that
person’s terms of employment will be varied accordingly. 

	10.8  	Replacement
Option certificates:  

	 	
If
any option certificate is worn out, defaced or lost, the Committee may replace it on such
conditions as it wishes to set. If an Option is exercised in part, and the balance remains
exercisable, the Committee may on the surrender or cancellation of the relevant
certificate provide the Optionholder with a balance certificate. 

	10.9  	Employee
Trust  

	 	
The
Company and any Subsidiary of the Company may provide money to the trustee of any trust or
any other person to enable them or him to acquire shares to be held for the purposes of
the Plan, or enter into any guarantee or indemnity for those purposes, to the extent
permitted by Section 153 of the Companies Act 1985. 

14

	10.10  	Withholding  

	 	
The
Company, any employing company or the trustees of any employee benefit trust may withhold
any amount and make any such arrangements, including but not limited to the sale or
reduction in number of any Shares on behalf of an Optionholder as it considers necessary
to meet any liability to taxation or social security contributions in respect of Options
granted to the Optionholder pursuant to this Plan. 

	10.11  	Delegating  

	 	
The
Committee may delegate any or all of its powers to operate the Plan to a sub-committee
provided that in the case of directors of the Company such a sub-committee consists of a
non-executive director or non-executive directors of the Board of Directors of the
Company. 

	11  	Changing
the Plan and Termination  

	11.1  	Shareholder
approval  

		11.1.1 	
Except as described in Rule 11.1.2, the shareholders in general meeting must approve in
advance by ordinary resolution any proposed change to the advantage of present or future
Optionholders, which relates to the following: 

               	 	(i) 	
                    the persons to or for whom Shares may be provided under the Plan; 

                    

               	 	(ii) 	
                    the limitations on the number of Shares which may be issued under the Plan; 

                    

               	 	(iii) 	
                    the determination of the Option Price; 

                    

               	 	(iv) 	
                    any rights attaching to the Options and the Shares; 

                    

               	 	(v) 	
                    the rights of Optionholders in the event of a capitalisation issue, rights
                    issue, sub-division or consolidation of shares or reduction or any other
                    variation of capital of the Company; 

                    

               	 	(vi) 	
                    the terms of this Rule 11.1.1. 

                    

		11.1.2 	
The Committee can change the plan and need not obtain the approval of the shareholder in
general meeting for any minor changes including: 

               	 	(i) 	
                    to benefit the administration of the Plan; 

                    

               	 	(ii) 	
                    to comply with or take account of the provisions of any proposed or existing
                    legislation; 

                    

               	 	(iii) 	
                    to take account of any changes to the legislation; or 

                    

               	 	(iv) 	
                    to obtain or maintain favourable tax, exchange control or regulatory treatment
                    of the Company, any Subsidiary or any present or future Optionholder. 

                    

	11.2  	National
Rules  

	 	
Notwithstanding
any other provision of the Plan, but subject always to Rule 11.1 the Committee may amend
or add to the provisions of the Plan and the terms of Options as it considers necessary or
desirable to take account of, or to mitigate, or to comply with relevant overseas laws
including but not limited to taxation, securities or exchange control laws which apply to
Eligible Employees provided that the terms of Options granted to such Eligible Employees
are not more favourable overall than the terms of Options granted to other Eligible
Employees. 

15

	11.3  	Notice  

	 	
As
soon as possible after making any change, the Committee will give written notice to any
Optionholder affected by the change. 

	11.4  	Termination
of the Plan  

	 	
The
Committee may terminate the Plan at any time. If this is not done, the Plan will terminate
on the tenth anniversary of its adoption by the shareholders in general meeting, but
Options granted before such termination will continue to be valid and exercisable as
described in these Rules. 

	12  	Governing
Law  

	 	
English
law governs the Plan and all Options and their construction except as provided under Rule
11.2. 

16

BP Share Option Plan 

Inland Revenue
Approved Schedule 

The rules of the BP Share Option Plan shall
apply to Options granted under this Schedule, subject to the following alterations: 

	1  	Definitions  

	 	
“Control” has
the meaning given to it by Section 840 of the Taxes Act;  

	 	
“Eligible
Employee” does not include anyone who is excluded from participation because of
paragraph 8 of Schedule 9 to the Taxes Act (material interests provisions). Any director
is only eligible if required to devote to his duties not less than 25 hours per week
(excluding meal breaks); 

	 	
“Personal
Representatives” means any person or persons who have obtained a valid UK grant
of representation; 

	 	
“Shares” must
satisfy paragraphs 10 to 14 of the Taxes Act 1988;  

	 	
“Subsidiary” means
a company which is:  

          	 	(i) 	
               a subsidiary of the Company within the meaning given to it by Section 736 of the
               Companies Act 1985, and 

               

          	 	(ii) 	
               under the Control of the Company; and 

               

	 	
“Taxes
Act” means the Income and Corporation Taxes Act 1988.  

	2  	Revenue
Approval  

	 	
If
the approved status of the Plan is to be maintained, no change to the Plan made after it
has been approved under Parts I, II and IV of Schedule 9 to the Taxes Act will have effect
unless such change is approved by the Inland Revenue. In respect of the first operation of
the Scheme no Options shall be granted until it has been approved by the Inland Revenue. 

	3  	Cash
Alternative  

	 	
Rule
9.10 shall not apply.  

	4  	Exercise
Condition  

	 	
Any
Exercise Condition must be set out in documentation which is approved in advance by the
Inland Revenue. 

	5  	Revenue
limit  

	 	
The
Committee must not grant an Option to an Eligible Employee which would cause the market
value of the Shares subject to the Option to exceed the amount permitted under paragraph
28(1) of Schedule 9 to the Taxes Act (currently £30,000). When considering whether
this amount has been reached the Committee must take into account the market value of
Shares subject to the Option which it intends to grant him, as well as the market value of
shares which he may acquire on exercising his Options under the Plan or any other Inland
Revenue approved scheme established by the Company or by any of its associated companies
(as defined in Section 187 of the Taxes Act). 

17

	6  	Adjustment
of Options  

	 	
No
adjustment of Options may be made under Rule 5 without and to the extent of the prior
approval of the Inland Revenue. 

	7  	Exchange
of Options  

	 	
The
following rule shall replace Rule 8.  

	7.1	
This Rule applies if Options would become exercisable under Rule 7.3, 7.4, 7.5 or 7.6 but
the Committee determines that Options shall not be exercised but this Rule shall apply. 

	7.2	
Where the Committee has made a determination under this Rule, optionholders will be
granted an option (“New Option”) to replace their option (“Old
Option”). The New Option will be granted within the appropriate period within the
meaning of paragraphs 15(2) and Schedule 9 to the Taxes Act. The New Option must be
equivalent to the Old Option within the meaning of Paragraph 15(3) of Schedule 9 to the
Taxes Act. It will be over shares in a company falling within Paragraph 10 of Schedule 9
to the Taxes Act. 

	7.3	
Where an Optionholder is granted a New Option in substitution of his Old Option as
described in this Rule, then: 

		7.3.1 	
the New Option will be treated as having been acquired at the same time as the Old Option
and be exercisable in the same manner and at the same time as the Old Option; 

		7.3.2 	
the New Option will be subject to the provisions of the Plan as it had effect in relation
to the Old Option immediately before the release. In addition, the Inland Revenue may
agree other changes; 

		7.3.3 	
with effect from the replacement the Plan will be construed, in relation to the New Option
as if references to Shares were references to the shares for which the New Option is
granted and references to the Company were references to a company determined by the
Committee at the time of replacement. 

18

BP Share Option Plan 

Schedule Governing Operation of the BP Share Option Plan

in the United States 

This United States (“US”)
Schedule has been adopted by the Committee pursuant to Rule 11.2 of the Plan and shall
vary the terms of the Plan (and any other related documents) accordingly. 

Loss of Ownership 

Rule 7.10 shall not apply. 

Rule 10.10 and the heading thereof
shall be amended by adding the following: 

	 	
Rule
10.10 Withholding/Right of Offset:  

	 	
Amounts
withheld and/or collected as taxes shall also include hypothetical taxes owed under an
expatriate tax policy (as currently in effect or as amended from time to time) (“Tax
Policy”) of any Member of the Group. The Company or any employing company may deduct
from the exercise of Options any debt, obligation, liability, or other amount owing by the
Optionholder to a Member of the Group, including but not limited to amounts owed under a
Tax Policy, as determined in the sole discretion of the Company. In accepting an Option
grant, an Optionholder waives any right to notice and written consent under state law in
connection with any such offset. 

19

BP Share Option Plan 

Schedule Governing Options Granted

in March 1999 to Eligible Employees in Norway 

This Schedule has been adopted by the
Committee pursuant to Rule 11.2 of the Plan and shall vary the terms of the Plan (and any
other related documents) accordingly. 

Rule 9.10 Cash
alternative 

The following shall replace Rule
9.10: 

	 	
9.10
Cash Alternative:  

	 	
The
Committee may in its discretion determine not to procure the transfer or issue of Shares
to an Optionholder who exercises his Option, but instead to pay to him (subject to Rule
10.10) a cash amount equal to the amount by which the market value of the Shares in
respect of which the Option is exercised (calculated by reference to the middle market
quotation, as derived from the Daily Official List of the London Stock Exchange, of a
Share on the Option Exercise Date) exceeds the Option Price, or to procure the transfer to
him of Shares to the value of that cash amount or apply that amount in the issue of
Shares. If the Committee so determines, the Option Price shall not be payable, and if
already paid, shall be repaid to the Optionholder forthwith. 

	 	
If
an Optionholder so requests, the Committee may determine to satisfy the exercise of any
Option with the appropriate number of ADSs. Any payment of taxes in respect of satisfying
an Option in this way will be met by the Optionholder. 

20S-8

Exhibit 4.1(b)  

Amended and Restated
1991 Incentive Program of BP Amoco Corporation and 

its Participating Subsidiaries 

Preamble 

The
1991 Incentive Program of Amoco Corporation and its Participating Subsidiaries amended and
restated effective November 1, 1996 shall be effective from November 1, 1996 to the
effective date of the merger of Amoco Corporation with a wholly owned subsidiary of The
British Petroleum Company (the “Merger”). From and after the effective date of
the Merger this Amended and Restated 1991 Incentive Program of BP Amoco Corporation and
its Participating Subsidiaries shall be effective until later amended, superceded or
terminated. 

	1.  	Purpose
and Effective Date  

	 	
The
purpose of this 1991 Incentive Program of BP Amoco Corporation and its Participating
Subsidiaries is to further the interests of BP Amoco Corporation, an Indiana corporation,
its affiliates and its shareholder by providing incentives in the form of awards to
employees who contribute materially to the success and profitability of the Corporation
and its affiliates. Such awards recognize and reward outstanding performances and
individual contributions of key, managerial and other salaried employees who possess
valuable experience and skills. This Program also enables the Corporation and its
affiliates to attract and retain such employees. This Program initially became effective
on April 23, 1991 and shall remain effective until December 31, 2001, subject to the
ability of the Board of Directors and the Compensation and Organization Committee to
terminate this Program as provided in Section 14.1.  

	2.  	Definitions  

	 	
As
used in this Program: 

	 	(1) 	“Adjusted
Net Income” means the net income of the Corporation as           reported in the
Corporation’s annual financial statements adjusted to           exclude publicly
disclosed unusual or special items affecting reported net           income. 

	 	(2) 	“Award” means
the grant of any form of Option, Stock Appreciation           Right, Performance Award,
Restricted Share, Bonus, or any other form of Share           based or non-Share based
Award granted pursuant to this Program. 

	 	(3) 	“Award
Agreement” means a written agreement between the Corporation           and a
Participant that sets forth the terms, conditions and limitations           applicable to
an Award. 

	 	(4) 	“Beneficiary” means
a person or persons designated by a Participant to           receive, in the event of
death, any unpaid portion of an Award held by the           Participant. Any Participant
may, subject to such limitations as may be           prescribed by the Committee,
designate one or more persons primarily or           contingently as beneficiaries in
writing upon forms supplied by and delivered to           the Corporation, and may revoke
such designations in writing. If a Participant           fails effectively to designate a
beneficiary, then the Participant’s estate           shall be deemed to be the
Participant’s beneficiary. 

 

	 	(5) 	“Board” means
the Board of Directors of the Corporation. 

	 	(6) 	“Bonus” means
any payment under Section 7. 

	 	(7) 	“BP
Amoco” means BP Amoco p.l.c., an English public limited company or           any
successor corporation. 

	 	(8) 	“Change
in Control” has the meaning set forth in Section 9. 

	 	(9) 	“Chief
Executive Officer” means the Employee of the Corporation           serving in such
capacity. 

	 	(10) 	“Code” means
the Internal Revenue Code of 1986, as amended and in           effect from time to time,
or any successor statute. 

	 	(11) 	“Committee” means
the Compensation and Organization Committee of the           Corporation or any successor
committee. 

	 	(12) 	“Corporation” means
BP Amoco Corporation, an Indiana corporation, or           any successor corporation. 

	 	(13) 	“Employee” means
any individual who is a salaried employee on the           payroll of the Corporation or
any Participating Subsidiary. 

	 	(14) 	“Fair
Market Value Per Share” in reference to Shares means (i) the           average of
the reported highest and lowest sale prices per Share as reported on           the New
York Stock Exchange on the date as of which determination is to be made,           or
(ii) in the absence of reported sales on that date, the average of such
          reported highest and lowest sale prices per Share on the next preceding date on
          which reported sales occurred. 

	 	(15) 	“Named
Executive Officer” means an Employee as described in Section           162(m)(3) of
the Code for the year an Award is granted. 

	 	(16) 	“Option” means
an Award to purchase Shares granted pursuant to Section           6.1, and includes
Incentive Stock Options and Non-Qualified Options, as such           terms are defined in
Section 6.1. 

	 	(17) 	“Participant” means
any Employee who is granted an Award under this           Program. 

	 	(18) 	“Participating
Subsidiary” means (i) any subsidiary of the           Corporation, more than 50% of
the aggregate outstanding voting shares of all           outstanding classes and series
of which are beneficially owned, directly or           indirectly, by the Corporation,
and one or more Employees of which are           Participants, or are eligible for
Awards, pursuant to this Program or (ii) any           “affiliate” of the
Corporation and one or more Employees of which are           Participants, or are
eligible for Awards pursuant to this Program. An           “affiliate” for
purposes of the definition of Participating Subsidiary           means any entity that
directly or indirectly through one or more intermediaries,           controls, or is
controlled by, or is under common control with, the Corporation.           “Control” means
direct or indirect ownership of more than 50% or more           of the equity of a
corporation or the ability through share ownership or           otherwise to elect a
majority of the board of directors of a corporation. 

	 	(19) 	“Performance
Award” has the meaning described in Section 6.4. 

 

	 	(20) 	“Program” means
this 1991 Incentive Program of BP Amoco Corporation           and its Participating
Subsidiaries as it may be amended from time to time. 

	 	(21) 	“Restricted
Shares” means Shares, which have certain restrictions           attached to the
ownership thereof, which may be issued under Section 6.3. 

	 	(22) 	“Retirement” means
termination of a Participant’s employment with           the Corporation or a
Participating Subsidiary by retirement under the normal,           mandatory, and
applicable age plus service or other provision of the applicable           retirement
plan of the Corporation or a Participating Subsidiary. 

	 	(23) 	“Shares” means
American Depositary Shares of BP Amoco. 

	 	(24) 	“Share
Unit” means the right to receive a payment equivalent in value           to one
Share on the date of payment. 

	 	(25) 	“Stock
Appreciation Right” means a right, the value of which is           determined
relative to the appreciation in value of Shares, which may be issued           under
Section 6.2. 

	 	(26) 	“Totally
Disabled” means solely because of disease or injury, a           Participant is
deemed by a qualified physician selected by the Corporation or           Participating
Subsidiary to be unable to work at any reasonable occupation.           “Reasonable
occupation” means any gainful activity for which the           Participant is, or
may reasonably become, fitted by education, training or           experience, but shall
not mean any activity if it is in connection with an           approved rehabilitation
program. Notwithstanding the foregoing, a Participant           shall not be deemed
Totally Disabled if the cause of disability was contributed           to or resulted
from: (i) intentionally self-inflicted injuries; (ii) drug           addiction; (iii)
insurrection, rebellion, participation in a riot or civil           commotion; or (iv)
commission by the Participant of an assault, battery or           felony. 

	3.  	Administration  

	3.1  	Compensation
and Organization Committee  

	 	(a) 	This
Program shall be administered by the Committee, which shall be appointed by           the
Board. The Board may remove members from or add members to the Committee.
          Vacancies on the Committee shall be filled by the Board. 

	 	(b) 	To
the extent permitted by Section 14.3, the Committee is authorized to (i)
          determine which Employees shall be Participants in the Program and which Awards
          shall be granted to Participants, (ii) establish, amend and rescind rules,
          regulations and guidelines relating to this Program as it deems appropriate,
          (iii) interpret and administer this Program, Awards and Award Agreements, (iv)
          establish, modify and terminate terms and conditions of Award Agreements, (v)
          grant waivers and accelerations of Program, Award and Award Agreement
          restrictions and (vi) take any other action necessary for the proper
          administration and operation of the Program, all of which shall be executed in
          accordance with the objectives of this Program. 

	 	(c) 	The
Committee may designate persons and entities other than its members to carry
          out any of its responsibilities under and described in this Program, under such
          conditions or limitations as the Committee may establish. 

 

	3.2  	Effect
of Determinations  

	 	
Determinations
of the Committee and its designees shall be final, binding and conclusive on the
Corporation, its Participating Subsidiaries, shareholders, Employees and Participants. No
member of the Committee or any of its designees shall be personally liable for any action
or determination made in good faith with respect to this Program, any Award, or any Award
Agreement.  

	4.  	Eligibility  

	 	
Persons
eligible for Awards under this Program shall consist of key, managerial and other
Employees who possess valuable experience and skills and have contributed, or can be
expected to contribute, materially to the success of the Corporation and/or its
Participating Subsidiaries. The Committee shall determine which Employees shall be
Participants, the types of Awards to be made to Participants and the terms, conditions
and limitations applicable to the Awards.  

	5.  	Shares
Subject to this Program  

	5.1  	Maximum
Number of Shares  

	 	
The
maximum number of Shares available for Awards under this Program in each calendar year
during any part of which this Program shall be in effect shall be nine tenths of one
percent (0.9%) of the total outstanding Shares as of December 31 of the immediately
preceding year, subject to Section 8 of this Program. Any and all such Shares may be
issued in respect of any of the types of Awards; provided, however that no more than
thirteen million two hundred thirty thousand (13,230,000) Shares shall be issued with
respect to Incentive Stock Options, and provided, further, that no more than twenty
percent (20%) of the Shares available for Awards under this Program shall be issued in
respect of Restricted Shares. Notwithstanding the immediately preceding paragraph, any
Participant, including any Named Executive Officer, shall be limited to a maximum annual
aggregate award (a) under Section 6.1 of no more than 248,000 Shares underlying an Option
Award and (b) under Section 6.2 of no more than 248,000 Shares or Share Units related to
a Stock Appreciation Right Award.  

	5.2  	Share
Accounting  

	 	
Any
unused Shares of the nine tenths of one percent (0.9%) limit described in Section 5.1 in
any calendar year, shall be available for Awards in succeeding calendar years. Shares
granted under this Program shall be derived from sources determined by the Committee in
accordance with applicable law. No fractional Shares shall be granted under this Program.  

 

	6.  	Awards  

	 	
Awards
may include, but are not limited to, those described in this Section 6. Awards may be
granted singly, in combination, or in tandem with other Awards. Subject to the other
provisions of this Program, Awards may also be made in combination or in tandem with, in
replacement of, or as alternatives to, grants or rights under this Program and any other
employee plan of the Corporation or its Participating Subsidiaries, including any plan of
any acquired entity. Subject to the terms of the Awards described in this Section 6 and
the related Award Agreement, the form of payment for Awards may be in cash, in Shares, in
Share Units, or such other form as determined by the Committee, and may be made partly in
one form and partly in one or more other forms, all as determined by the Committee.
Except as otherwise provided in this Program, Awards shall be evidenced by Award
Agreements, the terms of which may be amended or accelerated by the Committee following
the grant of any Award and need not be uniform among Participants. Except as otherwise
provided in this Program, Awards shall be granted for such minimum consideration as is
required by applicable law, rules and regulations, and such additional consideration, if
any, as may be determined by the Committee.  

	6.1  	Options  

	 	
Options
may be granted under this Program from time to time. If Options are granted they shall be
upon the following terms and conditions and such additional terms and conditions, not
inconsistent with the express provisions of this Program, as the Committee in its
discretion shall deem desirable:  

	 	(a) 	Options
granted to Employees may be either of a type that meets the requirements           of
incentive stock options, as defined in Section 422 of the Code           (“Incentive
Stock Options”), or of a type or types that do not meet           such requirements (“Non-Qualified
Options”), if otherwise consistent           with the provisions of this Program. 

	 	(b) 	The
option price per Share for all Options shall be that recommended by the
          Committee, but it shall not be less than one hundred percent (100%) of the Fair
          Market Value Per Share on the date the Option is granted. 

	 	(c) 	Award
Agreements for Options shall conform to the requirements of this Program,           and
may contain such other provisions as the Committee shall deem advisable;
          provided, however, that if an Option is designated as an Incentive Stock Option
          the terms of the Award Agreement shall be in conformance with the statutory
          requirements for an Incentive Stock Option as specified in the Code. 

	 	(d) 	Award
Agreements for Options shall specify when an Option may be exercisable. An
          Option may be exercised, in whole or in part, by giving written notice of
          exercise to the Corporation specifying the number of Shares to be purchased.
          Shares purchased upon exercise of an Option shall be paid for in full at the
          time the Option is exercised in cash or in Shares. Payment may also be made in
          any other manner or form approved by the Committee, consistent with applicable
          law, regulations and rules. 

	 	(e) 	A
holder of an Option shall have no rights as a holder with respect to any           Shares
covered by such Option unless and until the date of the issuance of such
          Shares. 

 

	 	(f) 	(i) 	If a Participant dies while employed by the Corporation or a Participating
          Subsidiary and after completion of the required period of continuous employment
          as provided in the Award Agreement following the date an Option is granted,
then           the Option shall be exercisable by the Beneficiary of the Participant, but
only           within the period specified in the Award Agreement which shall not be
later than           three (3) years after the date of the Participant’s death and,
in any           event, not later than the expiration date of the Option. 

	 	(ii) 	Following
the death of a Participant, the Committee may at its discretion, upon           the
request of such Participant’s Beneficiary who holds an exercisable           Option
and in consideration of the surrender of such Option, pay the amount by           which
the Fair Market Value Per Share on the date of such request shall exceed           the
Option price per Share multiplied by the number of Shares as to which the
          request was made.  

	 	(g) 	If
a Participant is deemed by the Corporation or the applicable Participating
          Subsidiary to be Totally Disabled, or if a Participant Retires, after
completion           of any required period of continuous employment as provided in the
Award           Agreement, following the date an Option was granted, the Option shall be
          exercisable by the Participant or the Participant’s legal guardian or
          representative, but only within the period specified in the Award Agreement,
          which shall not be later than the expiration date of the Option. If a
          Participant, to whom this Section 6.1(g) is applicable, dies before the
          expiration of the period specified in the Award Agreement during which the
          Option may be exercised, and without having exercised the Option, then the
          Option shall be exercisable by the Beneficiary of the Participant during the
          remainder of such specified period but only within three (3) years after the
          date of the Participant’s death, and in any event, not later than the
          expiration date of the Option. 

	6.2  	Stock
Appreciation Rights  

	 	
Stock
Appreciation Rights may be granted under this Program from time to time. If Stock
Appreciation Rights are granted they shall be upon the following terms and conditions,
and such additional terms and conditions, not inconsistent with the express provisions of
this Program, as the Committee in its discretion shall deem desirable:  

	 	(a) 	A
Stock Appreciation Right may be granted in tandem with part or all of, in
          addition to, or completely independent of, an Option or any other Award under
          this Program. A Stock Appreciation Right issued in tandem with an Option may be
          granted at the time of grant of the related Option or at any time thereafter
          during the term of the Option. 

	 	(b) 	Award
Agreements for Stock Appreciation Rights shall conform to the requirements           of
this Program and may contain such other provisions (including but not limited
          to, the permitted form of payment for the exercise of the Stock Appreciation
          Right, the requirement of employment for designated periods of time prior to
          exercise and the ability of the Committee to revoke Stock Appreciation Rights
          which are issued in tandem with Options without compensation to the
Participant)           as the Committee shall deem advisable. 

 

	 	(c) 	Stock
Appreciation Rights issued in tandem with Options shall be subject to the
          following: 

	 	(i) 	Stock
Appreciation Rights shall be exercisable at such time or times and to the
          extent, but only to the extent, that the Option to which they relate shall be
          exercisable.  

	 	(ii) 	Upon
exercise of Stock Appreciation Rights the holder thereof shall be entitled           to
receive a number of Shares equal in aggregate value to the amount by which           the
Fair Market Value Per Share on the date of such exercise shall exceed the
          option price per Share of the related Option, multiplied by the number of
Shares           in respect of which the Stock Appreciation Rights shall have been
exercised.  

	 	(iii) 	All
or any part of the obligation arising out of an exercise of Stock           Appreciation
Rights may, at the discretion of the Committee, be settled by the           payment of
cash equal to the aggregate value of the Shares (or a fraction of a           Share) that
would otherwise be delivered under the Section 6.2 (c) (ii).  

	 	(iv) 	Upon
exercise of Stock Appreciation Rights the Participant shall surrender to           the
Corporation the unexercised tandem Options.  

	 	(v) 	Stock
Appreciation Rights issued in tandem with Options shall automatically           terminate
upon the exercise of such Options.  

	6.3  	Restricted
Shares  

	 	
Awards
of Restricted Shares may be granted under this Program from time to time. If Awards of
Restricted Shares are granted they shall be upon the following terms and conditions and
such additional terms and conditions, not inconsistent with the express provisions of
this Program, as the Committee in its discretion shall deem desirable:  

	 	(a) 	Restricted
Shares are Shares which are subject to such terms, conditions and           restrictions
as the Committee deems appropriate, which may include restrictions           upon the
sale, assignment, transfer or other disposition of the Restricted           Shares and
the requirement of forfeiture of the Restricted Shares upon           termination of
employment under certain specified conditions. The Committee may           condition the
lapsing of restrictions on part or all of an Award of Restricted           Shares upon
the attainment of specific performance goals or such other factors           as the
Committee may determine. Awards of Restricted Shares may be granted for           no cash
consideration or for such minimum consideration as may be required by
          applicable law. 

	 	(b) 	Award
Agreements for Restricted Shares shall conform to the requirements of this
          Program, and may contain such other terms and conditions (including but not
          limited to, a description of a period during which the Participant may not
          transfer the Restricted Shares and limits on encumbering the Restricted Shares
          during such period) as the Committee shall deem desirable. To the extent
          permitted by Section 14.3 hereof, the Committee may provide for the lapse of
any           such term or condition in installments and may accelerate or waive any such
term           or condition in whole or in part, based on service, performance and/or
such           other factors or criteria as the Committee may determine. 

 

	 	(c) 	Award
Agreements for Restricted Shares shall provide that the certificates
          representing Restricted Shares shall be legended, that the shares shall be held
          by a custodian, or that there be other mechanisms for maintaining control by
the           Corporation of the Restricted Shares until the restrictions thereon are no
          longer in effect. After the lapse, waiver or release of the restrictions
imposed           pursuant to the Award Agreement on any Restricted Shares, an equal
amount of           Shares without restrictions shall be released to the Participant. 

	 	(d) 	Except
as otherwise provided in this Program or in the Award Agreement, the
          Participant shall have, with respect to Awards of Restricted Shares, all of the
          rights of a holder of Shares, including the right to vote the Restricted Shares
          and the right to receive any dividends on such Restricted Shares. The Committee
          may provide that the payment of cash dividends shall or may be deferred. Any
          reinvestment of deferred cash dividends shall be as determined by the
Committee.           Non-cash dividends issued with respect to Restricted Shares shall be
subject to           the same terms, conditions and restrictions that apply to the
Restricted Shares           with respect to which such dividends are issued. Any
additional Shares issued           with respect to dividends shall not be counted against
the maximum number of           Shares for which Awards may be granted under this Program
as set forth in           Section 5. 

	 	(e) 	If
the employment of a Participant is terminated prior to the lapse of
          restrictions on Restricted Shares because the Participant dies, becomes Totally
          Disabled or Retires involuntarily, the restrictions on all Restricted Shares
          awarded to a Participant shall lapse on the date of such termination. 

	6.4  	Performance
Awards  

	 	
Performance
Awards may be granted under this Program from time to time. If Performance Awards are
granted they shall be upon the following terms and conditions and such additional terms
and conditions, not inconsistent with the express provisions of this Program, as the
Committee in its discretion shall deem advisable:  

	 	(a) 	Performance
Awards are Awards which are based upon the performance of all or a           portion of
the Corporation and/or its Participating Subsidiaries or which are           based upon
the individual performance of a Participant. Performance Awards may           be in the
form of performance units, performance shares and such other forms of
          Performance Awards which the Committee shall determine to be desirable.
          Performance Awards are Awards which are granted to Participants contingent upon
          (i) the future performance of all or a portion of the Corporation and/or one or
          more Participating Subsidiaries, which may include, without limitation,
          performance relative to a group of companies in the same or related industries,
          achievement of specific business objectives, attainment of certain growth
rates,           profitability goals and such other measurements as the Committee
determines to           be appropriate, (ii) the future performance of a Participant,
which may include,           without limitation, attainment of specified goals and
objectives and such other           measurements as the Committee determines to be
appropriate, (iii) the future           performance of a combination of all or a portion
of the Corporation and/or one           or more Participating Subsidiaries and a
Participant, or (iv) such other           measurements and criteria as may be considered
appropriate by the Committee.           Performance Awards may contain multiple
performance measurements. 

 

	 	(b) 	Award
Agreements for Performance Awards shall conform to the requirements of           this
Program and may contain such other terms and conditions (including but not
          limited to, applicable performance measurements, a description of whether
          performance measurements are to be used singly or in combination, a description
          of whether different performance measurements may be used for different
          performance periods, the length of performance periods, the ability of the
          Committee to amend and adjust measurements, payouts and performance periods of
          Performance Awards and any requirements of employment during performance
          periods) as the Committee shall deem desirable. 

	 	(c) 	Award
Agreements for Performance Awards shall provide for a required minimum           period
of continuous employment during a performance period of a Performance           Award. If
such minimum period of continuous employment shall have elapsed, the           Award
Agreement may provide, or the Committee may determine, the portion of the
          payment of the Performance Award which the Participant or the Participant’s
          Beneficiary, as applicable, is to receive at the end of the performance period. 

	6.5  	Other
Awards  

	 	
The
Committee may grant other Share based Awards under this Program, including without
limitation, those Awards pursuant to which Shares are or may in the future be acquired,
Awards denominated in Share Units, securities convertible into Shares and dividend
equivalents. The Committee shall determine the terms and conditions of such other Share
based Awards. Shares issued in connection with such other Share based Awards shall be
issued for such minimum consideration as shall be required by applicable law, rules and
regulations, and such additional consideration, if any, as may be determined by the
Committee.  

	 	
The
Committee may also grant other non-Share based Awards under this Program and shall
determine the terms and conditions of such other non-Share based Awards. The Committee
may grant such other Share based Awards and non-Share based Awards in tandem or
combination with other Awards or each other, in exchange of other Awards, or in tandem or
combination with, or as alternatives to grants or rights under any other employee plan of
the Corporation, including any plan of any acquired entity. The Committee shall have the
authority to determine the Participants for such Awards and all other terms and
conditions of such other Awards. No amendment of this Program is required for the
creation of another type of Award.  

 

	7.  	Bonuses  

	7.1  	Determination
of Bonuses  

	 	
Bonuses
may be granted under this Program from time to time. The amount of Bonuses which may be
awarded shall be as determined by the Committee. The Committee may establish a basis upon
which aggregate Bonus expenditures for any year shall be determined, which may include
measurements of financial performance of the Corporation and/or one or more of its
Participating Subsidiaries, relative performance of the Corporation and/or any one or
more of its Participating Subsidiaries within the same or related industries, competitive
compensation considerations and other measurements and criteria.  

	 	
In
the case of Named Executive Officers, the maximum annual individual Bonus Award to the
Chief Executive Officer shall be limited to an amount no greater than 0.15% of Adjusted
Net Income and for the other Named Executive Officers, an amount no greater than 0.10% of
Adjusted Net ncome.  

	 	
The
Committee in its sole discretion may, but shall not be required to, reduce the amount of,
or not grant a Bonus Award that could otherwise be granted based upon such considerations
as it deems appropriate.  

	7.2  	Form
and Time of Payment of Bonuses  

	 	(a) 	Each
Bonus may be made at the discretion of the Committee either in cash, in           Shares,
in Share Units, or in another form as determined by the Committee and           may be
made partly in one form and partly in one or more other forms. In the           case of
an Award of a Bonus in Shares or Share Units, the number shall be           determined by
using the Fair Market Value Per Share on the date of the Award of           the Bonus. 

	 	(b) 	The
payment of any Bonus shall be subject to such obligations or conditions as           the
Committee may specify in making or recommending the Award of the Bonus, but
          Bonuses need not be evidenced by Award Agreements. 

	 	(c) 	When
payment of all or part of a Bonus is deferred in the form of Shares or           Share
Units, the account of the Participant to whom the Bonus was made will be
          credited with an amount per Share equal to the dividends payable on each issued
          and outstanding Share (“dividend equivalents”). Amounts thus credited
          shall, in the discretion of the Committee, either: 

	 	(i) 	be
paid in cash as and when each such credit shall be made, or  

	 	(ii) 	be
credited in Shares or Share Units, with the number determined by using the           Fair
Market Value Per Share on the date of the dividend payment and delivered in
          such form and at such time or times as may be determined by the Committee.  

	 	(d) 	When
payment of all or part of a Bonus is deferred in cash, the Committee may
          provide that the account of the Participant to whom the Bonus was made shall be
          credited with amounts equivalent to interest (“interest equivalents”).
          Amounts thus credited shall be at the rate determined by the Committee. 

	 	(e) 	Any
Bonus payable in Shares may, in the discretion of the Committee, be paid in
          cash, on each date on which payment in Shares would otherwise have been made,
in           an amount equal to the Fair Market Value Per Share on each such date,
multiplied           by the number of Shares which would otherwise have been paid on such
date. 

 

	 	(f) 	Bonuses
may be awarded in Share Units in accordance with the following terms and
          conditions and such other terms and conditions as the Committee may impose: 

	 	(i) 	The
number of Share Units awarded with respect to any Bonus shall be the number
          determined by using the Fair Market Value Per Share on the date of the Award of
          the Bonus.  

	 	(ii) 	Any
Bonus made in Share Units may, in the discretion or on the recommendation of
          the Committee, be paid in Shares on each date on which payment in cash would
          otherwise be made.  

	 	(g) 	In
lieu of the foregoing forms of payment of Bonuses, the Committee may specify           or
recommend any other form of payment which it determines to be of           substantially
equivalent economic value to the cash value of the Bonus           including, without
limitation, forms involving payments to a trust or trusts for           the benefit of
one or more Participants. 

	 	(h) 	Each
payment of a Bonus that is to be made in cash shall be from the general           funds
of the Corporation or the Participating Subsidiary making the payment. 

	 	(I) 	In
the event of the death of a Participant to whom a Bonus is to be or shall           have
been made, the Bonus or any portion thereof remaining unpaid shall be paid           to
such Participant’s Beneficiary either in the manner in which payment           would
have been made had the Participant not died or in such other manner as may           be
determined by the Committee. 

	8.  	Adjustments
upon Changes in Capitalization  

	 	
Subject
to any required action by the Corporation’s or any Participating Subsidiary’s
shareholders, in the event of a reorganization, recapitalization, stock split, stock
dividend, exchange of Shares (or the underlying securities), combination of Shares (or
the underlying securities), merger, consolidation or any other change in corporate
structure of the Corporation or a Participating Subsidiary affecting the Shares, or in
the event of a sale by the Corporation or any Participating Subsidiary of all or a
significant part of assets, or any distribution to shareholders other than a normal cash
dividend, the Committee may make appropriate adjustment in the number, kind, price and
value of Shares authorized by this Program and any adjustments to outstanding Awards as
it determines appropriate so as to prevent dilution or enlargement of rights.  

	9.  	Change
in Control  

	9.1  	Definition
of Change in Control  

	 	
A
“Change in Control” shall be deemed to have occurred if any one or more of the
events described in paragraphs (a), (b) or (c) below occurs:  

	 	(a) 	Any
“person,” as such term is used in Sections 13(d) and 14(d) of the
          Exchange Act (including any group of persons with which any person [or its
          affiliates or associates, as such terms are defined in Rule 12b-2 under the
          Exchange Act, of such person] has any agreement, arrangement or understanding,
          oral or written, regarding the acquiring, holding, voting or disposing of any
of           the Corporation’s securities, but excluding a trustee or other
fiduciary           holding securities under an employee benefit plan of the Corporation)
(i) is or           becomes the “beneficial owner” (as defined in Rule 13d-3
under the           Exchange Act), directly or indirectly, of securities of the
Corporation           representing twenty percent (20%) or more of the combined voting
power of the           Corporation’s then outstanding securities (hereinafter
referred to as an           “Acquiring Person”), and (ii) any such person
becoming an Acquiring           Person was not approved by the Board of Directors of the
Corporation which was           composed of “Continuing Directors,” as that
term is defined below in           (b), before the person became an Acquiring Person; or 

 

	 	(b) 	The
Board of Directors is no longer comprised of “Continuing           Directors” (which
for purposes of this Program shall mean (i) any person           who is a director prior
to the effective date of this Program and who is not,           while serving as a
director, an Acquiring Person (or a representative, affiliate           or associate
thereof), or (ii) any person whose nomination for election, or           election, to the
Board of Directors subsequent to the date of this Program is           recommended or
approved by at least two-thirds of Continuing Directors and who           is not, while
serving as a director, an Acquiring Person (or a representative,           affiliate or
associate thereof) ); or 

	 	(c) 	There
occurs a “Business Combination,” as that term is defined as of           the
effective date of this Program in INDIANA CODE Section 23-1-43-5 (with the
          terms “resident domestic corporation” and “interested
          shareholder” as used in that Section being deemed to refer to the
          Corporation and to an Acquiring Person, respectively), that was not approved by
          the Board of Directors of the Corporation, which was comprised of Continuing
          Directors, before the Acquiring Person became an Acquiring Person. 

	 	
However,
in no event shall a Change in Control be deemed to have occurred, with respect to a
Participant, if that Participant is part of an Acquiring Person which consummates the
Change in Control transaction. A Participant shall be deemed “part of an Acquiring
Person” for purposes of the preceding sentence if the Participant is an equity
participant or has agreed to become an equity participant in the Acquiring Person (except
for (i) passive ownership of less than 3% of the securities of the Acquiring Person; or
(ii) ownership of equity participation in the Acquiring Person which is otherwise not
deemed to be significant, as determined prior to the Change in Control by a majority of
the disinterested Continuing Directors).  

	9.2  	Effect
of Change in Control  

	 	
Upon
the occurrence of an event of Change in Control, unless otherwise specifically prohibited
by the terms of the second paragraph of Section 6:  

	 	(a) 	Any
and all Options and Stock Appreciation Rights shall become immediately
          exercisable; 

	 	(b) 	Any
restriction periods and restrictions imposed on Restricted Shares shall           lapse,
and within ten (10) business days after the occurrence of a Change in           Control,
an equal amount of Shares without restrictions shall be released to the
          applicable Participants; 

 

	 	(c) 	The
target value attainable under all Performance Awards shall be deemed to have
          been fully earned for the entire performance period as of the effective date of
          the Change in Control, except that all Performance Awards which shall have been
          outstanding less than six (6) months on the effective date of the Change in
          Control shall not be deemed to have earned the target value; and 

	 	(d) 	Subject
to Section 14.3 hereof, all such other actions and modifications to the           Awards
as determined by the Committee to be appropriate before the Acquiring           Person
became an Acquiring Person upon the Change in Control of the Corporation           shall
become effective. 

	10.  	Relationship
of the Program to Benefit Plans  

	 	
Except
to the extent excluded under an applicable plan document, the determination of whether a
Bonus or any portion thereof is to be treated as includable in a Participant’s
earnings base, for the purpose of determining such Participant’s benefits under
retirement, savings, group life insurance, long-term disability plans and other benefit
plans of the Corporation or a Participating Subsidiary, will be made by the Committee. No
other income of a Participant attributable to this Program shall be included in the
Participant’s earnings for purposes of any benefit plan in which the Participant may
be eligible to participate.  

	11.  	Effect
of the Program On Right to Continued Employment and Interest In Particular
Property  

	 	
None
of the existence of this Program, any Awards granted pursuant hereto or any Award
Agreement shall create any right to continued employment of any Employee by the
Corporation, any of its subsidiaries or Participating Subsidiaries. No Participant shall
have, under any circumstances, any interest whatsoever, vested or contingent, in any
particular property or asset of the Corporation, any subsidiary or any Participating
Subsidiary or in any particular Share or Shares (other than Restricted Shares held by a
custodian) by virtue of any Award. A Participant may be granted additional Awards under
this Program under such circumstances and at such times as the Committee may determine;
provided, however, that no Participant shall be entitled to any Award in the absence of a
specific grant by the Committee of an Award, notwithstanding the prior grant of an Award
to such Participant.  

	 	
This
Program shall not be deemed a substitute for, and shall not preclude the establishment or
continuation of any other plan, practice or arrangement that may now or hereafter be
provided for the payment of compensation, special awards or employee benefits to
employees of the Corporation, its Participating Subsidiaries, and its subsidiaries
generally, or to any class or group of employees, including without limitation, any
savings, thrift, profit-sharing, pension, retirement, excess benefit, insurance, health
care plans or other employee benefit plans. Any such arrangements may be authorized by
the Corporation, its Participating Subsidiaries, and its subsidiaries generally and
payment thereunder made independently of this Program.  

 

	12.  	Withholding
Taxes and Deferrals  

	12.1  	Cash
Withholding  

	 	
The
Corporation or its Participating Subsidiaries shall have the right to deduct from any
cash payment made under Awards under this Program any federal, state or local income, or
other taxes required by law to be withheld with respect to such payment or to take such
other action as may be necessary in the opinion of the Corporation or its Participating
Subsidiaries to satisfy all obligations for the payment of such taxes.  

	12.2  	Share
Withholding  

	 	
Any
Share based Award may provide by the grant thereof that the recipient of such Award may
elect, in accordance with any applicable laws, rules and regulations, to pay a portion or
all of the amount of such minimum required withholding taxes in Shares. In such event,
the Participant shall authorize the Corporation to withhold, or shall agree to deliver to
the Corporation, Shares owned by such Participant or a portion of the Shares that
otherwise would be distributed to such Participant, having a Fair Market Value equal to
the amount of withholding tax liability.  

	12.3  	Deferrals  

	 	
The
Committee may require or permit a Participant to defer such Participant’s receipt of
the payment of cash or the delivery of Shares that would otherwise be due to such
Participant by virtue of the exercise, the satisfaction of any requirements or goals or
lapse or waiver of restrictions of an Award made under this Program. If any such
deferment election is required or permitted, the Committee shall establish rules and
procedures for such payment deferrals.  

	13.  	Compliance
With Applicable Legal Requirements  

	 	
No
Shares or other securities distributable pursuant to this Program shall be issued and
delivered unless the issuance thereof complies with all applicable legal requirements
including, without limitation, compliance with the provisions of applicable state
securities laws, the Securities Act of 1933, as amended from time to time or any
successor statute, the Securities Exchange Act of 1934, as amended from time to time or
any successor statute, the requirements of the exchanges on which Shares or other
securities may, at the time, be listed, and applicable United Kingdom law.  

	14.  	Amendments  

	14.1  	Program
Amendments  

	 	
The
Committee or the Board, as appropriate, may, insofar as permitted by law, from time to
time, with respect to any Shares at the time not subject to Awards, suspend or
discontinue this Program or revise or amend it in any respect whatsoever.  

	14.2  	Amendments
of Awards  

	 	
Subject
to the terms and conditions and within the limitations of this Program, the Committee may
amend, cancel, modify, or extend outstanding Awards granted under this Program.  

 

	14.3  	Rights
of Participants  

	 	
No
amendment, suspension or termination of this Program nor any amendment, cancellation or
modification of any outstanding Award or Award Agreement that would adversely affect the
right of any Participant with respect to an Award previously granted under this Program
will be effective without the written consent of the affected Participant. Such written
consent may be obtained simultaneously with the grant of any Award.  

	15.  	Miscellaneous
Provisions  

	15.1  	Beneficiaries  

	 	
Any
Award Agreement may provide that in the case of an Award that is not forfeitable by its
terms upon the death of the Participant, the Participant may designate a Beneficiary with
respect to such Award in the event of death of a Participant. If such Beneficiary is the
executor or administrator of the estate of the Participant, any rights with respect to
such Award may be transferred to the person or persons or entity (including a trust)
entitled thereto by bequest of or inheritance from the holder of such Award.  

	15.2  	Awards
in Foreign Countries  

	 	
The
Committee shall have the authority to adopt such modifications, procedures and subplans
as may be necessary or desirable to comply with provisions of the laws of foreign
countries in which the Corporation or its Participating Subsidiaries may operate to
assure the viability of the benefits of Awards made to Participants employed in such
countries and to meet the objectives of this Program.  

	15.3  	Non-Transferability  

	 	
Except
as otherwise provided in Award Agreements or in this Program, Awards under this Program
may not be transferred by Participants during their lifetimes and may not be assigned,
pledged or otherwise transferred, except for those Awards which are not forfeitable upon
the death of a Participant may be transferred by will or the laws of descent and
distribution. The designation of a Beneficiary shall not constitute a transfer.  

	15.4  	Cancellation
of Awards  

	 	
Except
as otherwise provided in this Program or in applicable Award Agreements, the terms of
which need not be uniform among Participants, if a Participant to whom an Award is
granted ceases to be employed by the Corporation or by a Participating Subsidiary, all of
such Participant’s unexercised Awards and Awards on which there are restrictions
shall be immediately canceled.  

	 	
As
amended and restated effective January 4, 1999.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00131-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00131-of-00352.parquet"}]]