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                                  EXHIBIT 4.1

                 PRIMUS TELECOMMUNICATIONS GROUP, INCORPORATED

                                STOCK OPTION PLAN

                     ORIGINALLY EFFECTIVE JANUARY 2, 1995

               AMENDED AND RESTATED EFFECTIVE SEPTEMBER 28, 2001
                 PRIMUS TELECOMMUNICATIONS GROUP, INCORPORATED

                                STOCK OPTION PLAN

  Section 1. Purposes.

  The purposes of the Plan are (a) to recognize and compensate selected
employees and consultants of the Company and its Subsidiaries who contribute to
the development and success of the Company and its Subsidiaries; (b) to maintain
the competitive position of the Company and its Subsidiaries by attracting and
retaining employees and consultants; and (c) to provide incentive compensation
to such employees and consultants based upon the Company's performance as
measured by the appreciation in Common Stock. The Options granted pursuant to
the Plan are intended to constitute either incentive stock options within the
meaning of Section 422 of the Code, or non- qualified stock options, as
determined by the Board or the Committee at the time of grant. The type of
Options granted will be specified in the Option Agreement between the Company
and the recipient of the Options. The terms of this Plan shall be incorporated
in the Option Agreement to be executed by the Optionee.

  Section 2. Definitions.

  (a) "Board" shall mean the Board of Directors of the Company, as constituted
from time to time.

  (b) "Change of Control" shall mean the occurrence of any of the following
events:

    (i) The acquisition in one or more transactions by any "Person" (as the term
  person is used for purposes of Sections 13(d) or 14(d) of the Securities
  Exchange Act of 1934, as amended (the "1934 Act")) of "Beneficial Ownership"
  (as the term beneficial ownership is used for purposes of Rule 13d-3
  promulgated under the 1934 Act) of fifty percent (50%) or more of the combined
  voting power of the Company's then outstanding voting securities (the "Voting
  Securities"), provided that for purposes of this Section 2(b)(i), the Voting
  Securities acquired directly from the Company by any Person shall be excluded
  from the determination of such Person's Beneficial Ownership of Voting
  Securities (but such Voting Securities shall be included in the calculation of
  the total number of Voting Securities then outstanding); or

    (ii) Approval by shareholders of the Company of (A) a merger, reorganization
  or consolidation involving the Company if the shareholders of the Company
  immediately before such merger, reorganization or consolidation do not or will
  not own directly or indirectly immediately following such merger,
  reorganization or consolidation, more than fifty percent (50%) of the combined
  voting power of the outstanding voting securities of the corporation resulting
  from or surviving such merger, reorganization or consolidation in
  substantially the same proportion as their ownership of the Voting Securities
  immediately before such merger, reorganization or consolidation, or (B) (1) a
  complete liquidation or dissolution of the Company or (2) an agreement for the
  sale or other disposition of all or substantially all of the assets of the
  Company; or

    (iii) Acceptance by shareholders of the Company of shares in a share
  exchange if the shareholders of the Company immediately before such share
  exchange do not or will not own directly or indirectly immediately following
  such share exchange more than fifty percent (50%) of the combined voting power
  of the outstanding voting securities of the corporation resulting from or
  surviving such share exchange in substantially the same proportion as the
  ownership of the Voting Securities outstanding immediately before such share
  exchange.

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

  (d) "Committee" shall mean the Committee appointed by the Board in accordance
with Section 4(a) of the Plan, if one is appointed, in which event, in
connection with this Plan, the Committee shall possess all of the power and
authority of, and shall be authorized to take any and all actions required to be
taken hereunder by, and make any and all determinations required to be made
hereunder by, the Board.

  (e) "Company" shall mean, Primus Telecommunications Group, Incorporated, a
Delaware corporation.

  (f) "Common Stock" shall mean common stock of the Company, $.01 par value per
share.

  (g) "Disability" or "Disabled" shall mean the inability of a Participant or
Optionee, as the case may be, to perform his or her normal employment duties for
the Company resulting from a mental or physical illness, impairment or any other
similar occurrence which can be expected to result in death or which has lasted
or can be expected to last for a period of twelve (12) consecutive months, as
determined by the Board of Directors.

  (h) "Employee" shall mean any person (including officers) employed by the
Company or any Subsidiary. Additionally, solely for purposes of determining the
persons eligible under the Plan to be granted Options, which Options shall be
limited to non-qualified stock options, and not for the purpose of affecting the
status of the relationship between such person and the Company, the term
"Employee" shall include consultants to the Company; provided, however, that a
director of the Company or any Subsidiary shall not be considered to be an
Employee of the Company or any Subsidiary for purposes of this Plan solely by
reason of serving as such director or receiving compensation from the Company or
any Subsidiary for serving as such director.

  (i) "Exchange Act" shall mean the Securities Exchange Act of 1934, as in
effect from time to time.

  (j) "Fair Market Value" shall mean the fair market value of a share of Common
Stock, as determined pursuant to Section 7 hereof.

  (k) "Non-Employee Director" shall have the meaning set forth in Rule 16b-
3(b)(3)(i) promulgated by the Securities and Exchange Commission under the
Exchange Act, or any successor definition adopted by the Securities and Exchange
Commission; provided, however, that the Board or the Committee may, in its sole
discretion, determine from time to time whether the regulations under Section
162(m) of the Code shall apply for purposes of determining which individuals are
"Non-Employee Directors."

  (l) "Option" shall mean an incentive stock option or non-qualified stock
option to purchase Common Stock that is granted pursuant to the Plan.

  (m) "Option Agreement" shall mean a written agreement in such form or forms as
the Board (subject to the terms and conditions of this Plan) may from time to
time approve evidencing and reflecting the terms of an Option.

  (n) "Optionee" shall mean a Participant to whom an Option is granted.

  (o) "Participant" shall mean each Employee.

  (p) "Plan" shall mean the Primus Telecommunications Group, Incorporated Stock
Option Plan, as amended from time to time.

  (q) "Proprietary Information" shall mean any and all confidential,
proprietary, business and technical information or trade secrets of the Company
or of any Subsidiary or affiliate of the Company revealed, obtained or developed
in the course of Optionee's employment with the Company or in the course of
Optionee's performance of services for the Company in any other capacity. Such
Proprietary Information shall include but shall not be limited to, methods of
production and manufacture, research, marketing and development plans and

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efforts, cost information, pricing information, marketing methods and plans,
identities of customers and suppliers, the Company's relationship with actual or
potential customers and the needs and requirements of any such actual or
potential customers, and any other confidential information relating to the
business of the Company. Proprietary Information shall not include (i) such
information as may be necessary or appropriate for an Optionee to disclose in
the course of his employment or engagement for the effective and efficient
discharge of his duties as an employee or consultant of the Company or as may be
required by law to be disclosed; and (ii) such information as is readily
available to the general public so long as such information did not become
available to the general public as a direct or indirect result of Optionee's
breach of his obligation to maintain confidentiality.

  (r) "Securities Act" shall mean the Securities Act of 1933, as in effect from
time to time.

  (s) "Shares" shall mean shares of Common Stock.

  (t) "Stock Purchase Agreement" shall mean an agreement in such form as the
Board may from time to time approve, which an Optionee may be required to
execute as a condition of purchasing Shares upon exercise of an Option.

  (u) "Subsidiary" shall mean a subsidiary corporation of the Company, whether
now or hereafter existing, as defined in Sections 424(f) and (g) of the Code.

  Section 3. Participation.

  The Board may grant Options at any time and from time to time to Participants
who shall be selected by the Board. Options may be granted only to Participants.
Any grant of Options may include or exclude any Participant, as the Board shall
determine in its sole discretion. A Participant who has been granted an Option,
if he or she is otherwise eligible, may be granted additional Options.

  Section 4. Administration.

  (a) Procedure. The Plan shall be administered by the Board or a Committee
consisting of not less than two persons appointed by the Board. Members of the
Board or the Committee who are eligible for Options or have been granted Options
may vote on any matters affecting the administration of the Plan or the grant of
any Options pursuant to the Plan, except that no such member shall act upon the
granting of an Option to himself or herself, but any such member may be counted
in determining the existence of a quorum at any meeting of the Board or
Committee during which action is taken with respect to the granting of Options
to himself or herself.

  If a Committee is appointed by the Board, the Committee shall have the power
to administer the Plan on behalf of the Board, subject to such terms and
conditions as the Board may prescribe. Members of the Committee shall serve for
such period of time as the Board may determine. From time to time the Board may
increase the size of the Committee and appoint additional members thereto,
remove members (with or without cause) and appoint new members in substitution
therefor, fill vacancies however caused, or remove all members of the Committee
and thereafter directly administer the Plan.

  In the event the Company has a class of equity securities registered under
Section 12 of the Exchange Act, the Plan shall be administered either by the
Board, or by a Committee, appointed in the same manner and subject to the same
terms as provided in this subsection (a), provided that said Committee shall
consist of not less than two persons, each of whom is a Non-Employee Director.

  (b) Powers of the Board and the Committee. Subject to the provisions of the
Plan, the Board or its Committee shall have the authority, in its discretion:
(i) to grant Options; (ii) to determine the Fair Market Value per Share in
accordance with Section 7 of the Plan; (iii) to determine the exercise price of
the Options to be granted in accordance with Sections 6 and 7 of the Plan; (iv)
to determine the Participants to whom, and the time or times at which, Options
shall be granted, and the number of Shares to be subject to each Option; (v) to
prescribe, amend and rescind rules and regulations relating to the Plan; (vi) to
determine the terms and provisions

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of each Option granted under the Plan, each Option Agreement and each Stock
Purchase Agreement (which need not be identical with the terms of other Options,
Option Agreements and Stock Purchase Agreements), (vii) to modify or amend any
Option, Option Agreement or Stock Purchase Agreement, including, without
limitation, to accelerate the exercise date of any Option or to change the
termination date of any Option, (viii) to determine whether any Participant will
be required to execute a Stock Purchase Agreement or other agreement as a
condition to the exercise of an Option, and to determine the terms and
provisions of any such agreement (which need not be identical with the terms of
any other such agreement) and, with the consent of the Optionee, to amend any
such agreement; (ix) to interpret the Plan or any agreement entered into with
respect to the grant or exercise of Options; (x) to authorize any person to
execute on behalf of the Company any instrument required to effectuate the grant
of an Option previously granted by the Board or to take such other actions as
may be necessary or appropriate with respect to the Company's rights pursuant to
Options or agreements relating to the grant or exercise thereof; and (xii) to
make such other determinations and establish such other procedures as it deems
necessary or advisable for the administration of the Plan.

  (c) Effect of the Board's or Committee's Decision. All decisions,
determinations and interpretations of the Board or the Committee shall be final
and binding on all Optionees and any other holders of any Options granted under
the Plan.

  (d) Limitation of Liability. Notwithstanding anything herein to the contrary,
no member of the Board or of the Committee shall be liable for any good faith
determination, act or failure to act in connection with the Plan or any Option
granted hereunder.

  Section 5. Stock Subject to the Plan.

  Subject to this Section 5 and to the provisions of Section 8 of the Plan, the
maximum aggregate number of Shares which may be optioned and sold under the Plan
is 9,000,000. Options may be either incentive stock options or non- qualified
stock options, as determined by the Board. If an Option expires or becomes
unexercisable for any reason without having been exercised in full, the Shares
subject to such Option shall, unless the Plan shall have been terminated, return
to the Plan and become available for future grant under the Plan.
Notwithstanding the foregoing, no individual shall receive, over the term of the
Plan, Options for more than an aggregate of 25 percent of the Shares authorized
for grant under the Plan.

  Section 6. Terms and Conditions of Options.

  Each Option granted pursuant to the Plan shall be authorized by the Board and
shall be evidenced by an Option Agreement. Each Option Agreement shall
incorporate by reference all other terms and conditions of the Plan, and shall
contain the following terms and conditions:

  (a) Number of Shares. The number of shares subject to the Option.

  (b) Option Price. The price per share payable on the exercise of any Option
shall be stated in the Option Agreement and shall be no less than the Fair
Market Value per share of the Common Stock on the date such option is granted,
without regard to any restriction other than a restriction which will never
lapse. Notwithstanding the foregoing, if an Option which is an incentive stock
Option shall be granted under this Plan to any person who, at the time of the
grant of such Option, owns capital stock possessing more than 10% of the total
combined voting power of all classes of the Company's capital stock, the price
per share payable upon exercise of such incentive stock Option shall be no less
than 110 percent (110%) of the Fair Market Value per share of the Common Stock
on the date such Option is granted.

  (c) Consideration. The consideration to be paid for the Shares to be issued
upon exercise of an Option, including the method of payment, shall be determined
by the Board and may consist entirely of cash, check, promissory notes or Shares
having a Fair Market Value on the date of surrender equal to the aggregate
exercise price of the Shares as to which said Option shall be exercised, or any
combination of such methods of payment, or such other consideration and method
of payment permitted under any laws to which the Company is subject which is
approved by the Board. In making its determination as to the type of
consideration to accept, the Board shall consider if acceptance of such
consideration may be reasonably expected to benefit the Company.

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    (i) If the consideration for the exercise of an Option is a promissory note,
  it may, in the discretion of the Board, be either full recourse or nonrecourse
  and shall bear interest at a per annum rate which is not less than the
  applicable federal rate determined in accordance with Section 1274(d) of the
  Code as of the date of exercise. In such an instance, the Company may, in its
  sole discretion, retain the Shares purchased upon exercise of the Option in
  escrow as security for payment of the promissory note.

    (ii) If the consideration for the exercise of an Option is the surrender of
  previously acquired and owned Shares, the Optionee will be required to make
  representations and warranties satisfactory to the Company regarding his title
  to the Shares used to effect the purchase (the "Payment Shares"), including
  without limitation, representations and warranties that the Optionee has good
  and marketable title to such Payment Shares free and clear of any and all
  liens, encumbrances, charges, equities, claims, security interests, options or
  restrictions, and has full power to deliver such Payment Shares without
  obtaining the consent or approval of any person or governmental authority
  other than those which have already given consent or approval in a manner
  satisfactory to the Company. The value of the Payment Shares shall be the Fair
  Market Value of such Payment Shares on the date of exercise as determined by
  the Board in its sole discretion, exercised in good faith. If such Payment
  Shares were acquired upon previous exercise of incentive stock options granted
  within two years prior to the exercise of the Option or acquired by the
  Optionee within one year prior to the exercise of the Option, such Optionee
  shall be required, as a condition to using the Payment Shares in payment of
  the exercise price of the Option, to acknowledge the tax consequences of doing
  so, in that such previously exercised incentive stock options may have, by
  such action, lost their status as incentive stock options, and the Optionee
  may have to recognize ordinary income for tax purposes as a result.

    (iii) To the extent permitted under the Section 16b-3 of the Exchange Act,
  and in the sole discretion of the Committee, the Company may cooperate in a
  "cashless exercise" of an Option. The cashless exercise shall be effected by
  the Participant delivering to a securities broker, who is a registered
  securities broker acceptable to the Company and who agrees to effect such
  cashless exercise, instructions to sell a sufficient number of Shares to cover
  the costs and expenses associated therewith.

  (d) Form of Option. The Option Agreement will state whether the Option granted
is an incentive stock option or a non-qualified stock option, and will
constitute a binding determination as to the form of Option granted.

  (e) Exercise of Options. Any Option granted hereunder shall be exercisable at
such times and under such conditions as shall be set forth in the Option
Agreement (as may be determined by the Board and as shall be permissible under
the terms of the Plan), which may include performance criteria with respect to
the Company and/or the Optionee, and as shall be permissible under the terms of
the Plan.

  An Option may be exercised in accordance with the provisions of this Plan as
to all or any portion of the Shares then exercisable under an Option from time
to time during the term of the Option. An Option may not be exercised for a
fraction of a Share.

  An Option shall be deemed to be exercised when written notice of such exercise
has been given to the Company at its principal executive office in accordance
with the terms of the Option Agreement by the person entitled to exercise the
Option and full payment for the Shares with respect to which the Option is
exercised has been received by the Company, accompanied by any agreements
required by the terms of the Plan and/or Option Agreement, including an executed
Stock Purchase Agreement. Full payment may consist of such consideration and
method of payment allowable under Section 6 of the Plan. No adjustment shall be
made for a dividend or other right for which the record date is prior to the
date the Option is exercised, except as provided in Section 8 of the Plan.

  As soon as practicable after any proper exercise of an Option in accordance
with the provisions of the Plan, the Company shall, without transfer or issue
tax to the Optionee, deliver to the Optionee at the principal executive office
of the Company or such other place as shall be mutually agreed upon between the
Company and the Optionee, a certificate or certificates representing the Shares
for which the Option shall have been exercised.

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The time of issuance and delivery of the certificate(s) representing the Shares
for which the Option shall have been exercised may be postponed by the Company
for such period as may be required by the Company, with reasonable diligence, to
comply with any applicable listing requirements of any national or regional
securities exchange or any law or regulation applicable to the issuance or
delivery of such Shares.

  Exercise of an Option in any manner shall result in a decrease in the number
of Shares which thereafter may be available, both for purposes of the Plan and
for sale under the Option, by the number of Shares as to which the Option is
exercised.

  (f) Term and Vesting of Options.

    (i) Notwithstanding any other provision of this Plan, no Option shall be (A)
  granted under this Plan after ten (10) years from the date on which this Plan
  is adopted by the Board, or (B) exercisable more than ten (10) years from the
  date of grant.

    (ii) No Option granted to any Optionee shall be treated as an incentive
  stock option, to the extent such Option would cause the aggregate Fair Market
  Value (determined as of the date of grant of each such Option) of the Shares
  with respect to which incentive stock Options are exercisable by such Optionee
  for the first time during any calendar year to exceed $100,000. For purposes
  of determining whether an incentive stock Option would cause the aggregate
  Fair Market Value of the stock to exceed the $100,000 limitation, such
  incentive stock Options shall be taken into account in the order granted. For
  purposes of this subsection, incentive stock Options include all incentive
  stock options under all plans of the Company that are incentive stock option
  plans within the meaning of Section 422 of the Code.

  Except as provided in Section 6(g)(iv), Options granted hereunder shall mature
and become exercisable in whole or in part, in accordance with such vesting
schedule as the Board shall determine, which schedule shall be stated in the
Option Agreement. Options may be exercised in any order elected by the Optionee
whether or not the Optionee holds any unexercised Options under this Plan or any
other plan of the Company.

  (g) Termination of Options.

    (i) Unless sooner terminated as provided in this Plan, each Option shall be
  exercisable for the period of time as shall be determined by the Board and set
  forth in the Option Agreement, and shall be void and unexercisable thereafter.

    (ii) Except as otherwise provided herein or in the Option Agreement, upon
  the termination of the Optionee's employment or other relationship with the
  Company for any reason, Options exercisable on the date of termination of
  employment or such other relationship shall be exercisable by the Optionee (or
  in the case of the Optionee's death subsequent to termination of employment or
  such other relationship, by the Optionee's executor(s) or administrator(s))
  for a period of three (3) months from the date of the Optionee's termination
  of employment or such other relationship.

    (iii) Except as otherwise provided herein or in the Option Agreement, upon
  the Disability or death of an Optionee while employed or otherwise engaged by
  the Company, Options held by such Optionee which are exercisable on the date
  of Disability or death shall be exercisable for a period of twelve (12) months
  commencing on the date of the Optionee's Disability or death, by the Optionee
  or his legal guardian or, in the case of death, by his executor(s) or
  administrator(s); provided, however, that if such disabled Optionee shall
  commence any employment during such one (1) year period with a competitor of
  the Company (including, but not limited to, full or part-time employment or
  independent consulting work), as determined solely in the judgment of the
  Board, all Options held by such Optionee which have not yet been exercised
  shall terminate immediately upon the commencement thereof.

    (iv) Options may be terminated at any time by agreement between the
  Company and the Optionee.

  (h) Forfeiture. Notwithstanding any other provision of this Plan, if the
Optionee's employment or engagement is terminated by the Company and the Board
makes a determination that the Optionee (i) has engaged in any type of
disloyalty to the Company, including without limitation, fraud, embezzlement,
theft, or

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dishonesty in the course of his employment or engagement, or (ii) has been
convicted of a felony or (iii) has disclosed any Proprietary Information without
the consent of the Company or (iv) has breached the terms of any written
confidentiality agreement or any non-competition agreement with the Company in
any material respect, all unexercised Options held by such Optionee shall
terminate upon the earlier of the date of termination of employment or
engagement for "cause" or the date of such a finding.

  Section 7. Determination of Fair Market Value of Common Stock.

  (a) Except to the extent otherwise provided in this Section 7, the Fair Market
Value of a share of Common Stock shall be determined by the Board in its sole
discretion.

  (b) In the event that Shares are traded in the over-the-counter market, the
Fair Market Value of a share of Common Stock shall be the mean of the bid and
asked prices for a share of Common Stock on the relevant valuation date as
reported in The Wall Street Journal (or, if not so reported, as otherwise
reported by the National Association of Securities Dealers Automated Quotation
System ("NASDAQ")), as applicable or, if there is no trading on such date, on
the next preceding trading date. In the event Shares are listed on a national or
regional securities exchange or traded in the NASDAQ National Market System, the
Fair Market Value of a share of Common Stock shall be the closing price of a
share of Common Stock on the exchange or on NASDAQ/NMS, as reported in The Wall
Street Journal on the relevant valuation date, or if there is no trading on that
date, on the next preceding trading date.

  (c) "Adjusted Fair Market Value" shall mean in the event of a Change of
Control, the greater of (A) the highest price per share of Common Stock paid or
payable to holders of the Common Stock in any transaction (or series of
transactions) constituting or resulting (or as to which approval by shareholders
of the Company constitutes or results) in the Change of Control or (B) the
highest Fair Market Value of a share of Common Stock on any business day during
the ninety (90) day period ending on the date of the Change of Control.

  Section 8. Adjustments.

  (a) Subject to required action by the shareholders, if any, the number of
shares of Common Stock as to which Options may be granted under this Plan and
the number of shares subject to outstanding Options and the option prices
thereof shall be adjusted proportionately for any increase or decrease in the
number of outstanding shares of Common Stock of the Company resulting from stock
splits, reverse stock splits, stock dividends, reclassifications and
recapitalizations.

  (b) No fractional shares of Common Stock shall be issuable on account of any
action mentioned in paragraph 8(a) above, and the aggregate number of shares
into which Shares then covered by the Option, when changed as the result of such
action, shall be reduced to the number of whole shares resulting from such
action, unless the Board, in its sole discretion, shall determine to issue scrip
certificates with respect to any fractional shares, which scrip certificates, in
such event, shall be in a form and have such terms and conditions as the Board
in its discretion shall prescribe.

  Section 9. Rights as a Shareholder.

  The Optionee shall have no rights as a shareholder of the Company and shall
have neither the right to vote nor receive dividends with respect to any Shares
subject to an Option until such Option has been exercised.

  Section 10. Time of Granting Options.

  The date of grant of an Option shall, for all purposes, be the date on which
the Board authorizes the granting of such Option. Notice of the grant shall be
given to each Participant to whom an Option is so granted within a reasonable
time after the date of such grant.

  Section 11. Modification, Extension and Renewal of Option.

  Subject to the terms and conditions of the Plan, the Board may modify, extend
or renew an Option, or accept the surrender of an Option (to the extent not
theretofore exercised). Notwithstanding the foregoing, (a) no modification of an
Option which adversely affects an Optionee shall be made without the consent of
such

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Optionee, and (b) no incentive stock Option may be modified, extended or renewed
if such action would cause it to cease to be an "incentive stock option" under
the Code, unless the Optionee specifically acknowledges and consents to the tax
consequences of such action.

  Section 12. Conditions to Issuance of Shares Upon Exercise.

  (a) The obligation of the Company to issue and sell Shares to an Optionee upon
the exercise of an Option granted under the Plan is conditioned upon (i) the
Company obtaining any required permit or order from appropriate governmental
agencies, authorizing the Company to issue and sell such Shares, and (ii) such
issuance and sale complying with all relevant provisions of law, including,
without limitation, the Securities Act, the Exchange Act, the rules and
regulations promulgated thereunder, and the requirements of any stock exchange
upon which the Shares may then be listed.

  (b) At the option of the Board, the obligation of the Company to issue and
sell Shares to an Optionee upon the exercise of an Option granted under the Plan
may be conditioned upon obtaining appropriate representations, warranties and
agreements of the Optionee set forth in the Stock Purchase Agreement. Among
other representations, warranties, restrictions and agreements, the Optionee may
be required to represent and agree that the purchase of Shares of Common Stock
under the Option Agreement shall be for investment, and not with a view to the
public resale or distribution thereof, unless the Shares subject to the Option
are registered under the Securities Act and the issuance and sale of the Shares
complies with all other laws, rules and regulations applicable thereto. Unless
the issuance of such Shares is registered under the Securities Act, the Optionee
shall acknowledge that the Shares purchased on exercise of the Option are not
registered under the Securities Act and may not be sold or otherwise transferred
unless such Shares have been registered under the Securities Act in connection
with the sale or other transfer, or counsel satisfactory to the Company has
issued an opinion satisfactory to the Company that the sale or other transfer is
exempt from registration under the Securities Act, and unless said sale or other
transfer is in compliance with any other applicable laws, rules and regulations
including all applicable federal and state securities laws, rules and
regulations. Unless the Shares subject to an Option are registered under the
Securities Act, the certificates representing all Shares issued upon exercise of
such Option shall contain the following legend:

  THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED OR ANY APPLICABLE STATE SECURITIES LAWS.
THESE SHARES HAVE NOT BEEN ACQUIRED WITH A VIEW TO DISTRIBUTION OR RESALE, AND
MAY NOT BE SOLD, ASSIGNED, EXCHANGED, MORTGAGED, PLEDGED, HYPOTHECATED OR
OTHERWISE TRANSFERRED OR DISPOSED OF, BY GIFT OR OTHERWISE, OR IN ANY WAY
ENCUMBERED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH SHARES UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS, OR
A SATISFACTORY OPINION OF COUNSEL SATISFACTORY TO PRIMUS TELECOMMUNICATIONS
GROUP, INCORPORATED THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT AND UNDER
APPLICABLE STATE SECURITIES LAWS.

  Section 13. Transferability.

  No Option shall be assignable or transferable otherwise than by will or by the
laws of descent and distribution. During the lifetime of the Optionee, the
Optionee's Options shall be exercisable only by such Optionee, or in the event
of his or her legal incapacity, then by the Optionee's legal representative.

  Section 14. Other Provisions.

  The Option Agreement and Stock Purchase Agreement may contain such other
provisions as the Board of Directors in its discretion deems advisable and which
are not inconsistent with the provisions of this Plan.

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  Section 15. Change of Control.

  (a) For purposes of the Plan, "Option Cancellation Date" shall mean, as to
each Option, the later of: (i) the first business day after the expiration of a
period of six (6) months from the date of grant of the Option; (ii) in the event
of a Change of Control as defined in Section 2(b)(ii)(A) or 2(b)(ii)(B)(2), the
date on which the transaction approved by shareholders of the Company (as
provided in Section 2(b)(ii)) is consummated; and (iii) in the event of a Change
of Control as defined in Section 2(b)(i) or 2(b)(iii), the first business day
after the expiration of a period of sixty (60) days after the occurrence of such
event.

  (b) Upon a Change of Control, all Options (whenever granted) outstanding on
the date of such Change of Control shall be or become immediately and fully
exercisable.

  (c) In the event of a Change of Control as defined in Section 2(b)(i),
2(b)(ii)(A), 2(b)(ii)(B)(2) or 2(b)(iii), all Options (whenever granted)
outstanding on the Option Cancellation Date which are not exercised on or before
the Option Cancellation Date shall be canceled on such date by the Company, and
the Company shall on such date pay to each holder of each such canceled Option a
cash amount equal to the excess, if any, in respect of each Option canceled, of
(i) the greater of (A) the Fair Market Value of the shares of Common Stock
subject to the Option on the business day immediately preceding the Option
Cancellation Date or (B) the Adjusted Fair Market Value of the Common Stock
subject to the Option over (ii) the aggregate purchase price which would have
been payable for such shares of Common Stock pursuant to the Option had the
Option not been canceled.

  Section 16. Amendment of the Plan.

  Insofar as permitted by law and the Plan, the Board may from time to time
suspend, terminate or discontinue the Plan or revise or amend it in any respect
whatsoever with respect to any Shares at the time not subject to an Option;
provided, however, that without approval of the shareholders, no such revision
or amendment may change the aggregate number of Shares for which Options may be
granted hereunder, change the designation of the class of employees eligible to
receive Options or decrease the price at which Options may be granted.

  Any other provision of this Section 16 notwithstanding, the Board specifically
is authorized to adopt any amendment to this Plan deemed by the Board to be
necessary or advisable to assure that the incentive stock Options or the
non-qualified stock Options available under the Plan continue to be treated as
such, respectively, under the law.

  Section 17. Application of Funds.

  The proceeds received by the Company from the sale of shares pursuant to the
exercise of Options shall be used for general corporate purposes or such other
purpose as may be determined by the Company.

  Section 18. No Obligation to Exercise Option.

  The granting of an Option shall impose no obligation upon the Optionee to
exercise such Option.

  Section 19. Reservation of Shares.

  The Company, during the term of this Plan, shall at all times reserve and keep
available such number of Shares as shall be sufficient to satisfy the
requirements of the Plan.

  The Company, during the term of this Plan, shall use its best efforts to seek
to obtain from appropriate regulatory agencies any requisite authorization in
order to issue and sell such number of Shares as shall be sufficient to satisfy
the requirements of the Plan. The inability of the Company to obtain from any
such regulatory agency having jurisdiction the requisite authorization(s) deemed
by the Company's counsel to be necessary for the lawful issuance and sale of any
Shares hereunder, or the inability of the Company to confirm to its satisfaction
that any issuance and sale of any Shares hereunder will meet applicable legal
requirements, shall relieve the Company of any liability in respect to the
failure to issue or sell such Shares as to which such requisite authority shall
not have been obtained.

                                        9
<PAGE>

  Section 20. Taxes, Fees, Expenses and Withholding of Taxes.

  (a) The Company shall pay all original issue and transfer taxes (but not
income taxes, if any) with respect to the grant of Options and/or the issue and
transfer of Shares pursuant to the exercise thereof, and all other fees and
expenses necessarily incurred by the Company in connection therewith, and will
from time to time use its best efforts to comply with all laws and regulations
which, in the opinion of counsel for the Company, shall be applicable thereto.

  (b) The grant of Options hereunder and the issuance of Shares pursuant to the
exercise thereof is conditioned upon the Company's reservation of the right to
withhold in accordance with any applicable law, from any compensation or other
amounts payable to the Optionee, any taxes required to be withheld under
federal, state or local law as a result of the grant or exercise of such Option
or the sale of the Shares issued upon exercise thereof. To the extent that
compensation or other amounts, if any, payable to the Optionee is insufficient
to pay any taxes required to be so withheld, the Company may, in its sole
discretion, require the Optionee, as a condition of the exercise of an Option,
to pay in cash to the Company an amount sufficient to cover such tax liability
or otherwise to make adequate provision for the Company's satisfaction of its
withholding obligations under federal, state and local law.

  Section 21. Notices.

  Any notice to be given to the Company pursuant to the provisions of this Plan
shall be addressed to the Company in care of its Secretary (or such other person
as the Company may designate from time to time) at its principal executive
office, and any notice to be given to an Optionee shall be delivered personally
or addressed to him or her at the address given beneath his or her signature on
his or her Option Agreement, or at such other address as such Participant or his
or her transferee (upon the transfer of the Shares purchased upon exercise) may
hereafter designate in writing to the Company. Any such notice shall be deemed
duly given when enclosed in a properly sealed envelope or wrapper addressed as
aforesaid, registered or certified, and deposited, postage and registry or
certification fee prepaid, in a post office or branch post office regularly
maintained by the United States Postal Service. It shall be the obligation of
each Optionee and each transferee holding Shares purchased upon exercise of an
Option to provide the Secretary of the Company, by letter mailed as provided
herein, with written notice of his or her direct mailing address.

  Section 22. No Enlargement of Optionee Rights.

  This Plan is purely voluntary on the part of the Company, and the continuance
of the Plan shall not be deemed to constitute a contract between the Company and
any Optionee, or to be consideration for or a condition of the employment or
service of any Optionee. Nothing contained in this Plan shall be deemed to give
any Optionee the right to be retained in the employ or service of the Company or
any Subsidiary, or to interfere with the right of the Company or any such
corporation to discharge or retire any Optionee thereof at any time, subject to
applicable law. No Optionee shall have any right to or interest in Options
authorized hereunder prior to the grant thereof to such Optionee, and upon such
grant he shall have only such rights and interests as are expressly provided
herein, subject, however, to all applicable provisions of the Company's
Certificate of Incorporation, as the same may be amended from time to time.

  Section 23. Invalid Provisions.

  In the event that any provision of this Plan is found to be invalid or
otherwise unenforceable under any applicable law, such invalidity or
unenforceability shall not be construed as rendering any other provisions
contained herein as invalid or unenforceable, and all such other provisions
shall be given full force and effect to the same extent as though the invalid or
unenforceable provision was not contained herein.

  Section 24. Applicable Law.

  This Plan shall be governed by and construed in accordance with the laws of
the State of Delaware.

                                       10
<PAGE>

  Section 25. Effective Date.

  This Plan shall become effective on the date that it is adopted by the Board;
provided, however, that it shall not be an incentive stock option plan if it is
not approved, within one year (365 days) of its adoption by the Board, by a
majority of the votes cast at a duly held shareholder meeting at which a quorum
representing a majority of Company's outstanding voting shares is present,
either in person or by proxy. The Board may make grant Options hereunder prior
to approval of the Plan or approval of any material amendment thereto; provided,
however, that any and all incentive stock Options so granted automatically shall
be converted into non-qualified stock Options if the Plan or any material
amendment is not approved by shareholders within 365 days of its adoption.

                                       11<PAGE>

                                  EXHIBIT 4.2

                           DIRECTOR STOCK OPTION PLAN

                      ORIGINALLY EFFECTIVE AUGUST 27,1996

                AMENDED AND RESTATED EFFECTIVE SEPTEMBER 28, 2001

1.   PURPOSE

          The purpose of this Director Stock Option Plan (the "Plan") of Global
Telecommunications, Inc. (the "Company"), is to encourage ownership in the
Company by outside directors of the Company whose services are considered
essential to the Company's continued progress and thus to provide them with a
further incentive to continue to serve as directors of the Company. The Plan is
also intended to assist the Company through utilization of the incentives
provided by the Plan to attract and retain experienced and qualified candidates
to fill vacancies in the Board which might occur in the future.

2.   ADMINISTRATION

          The Plan will be administered by a committee of the Board of Directors
consisting f those Directors who are not Eligible Directors as defined below
(the "Committee"). Subject to the express provisions of the Plan, the Committee
will have complete authority to interpret the Plan; to prescribe, amend, and
rescind rules and regulations relating to it; to determine the terms and
provisions of the respective option agreements (which need not be identical);
and to make all other determinations necessary or advisable for the
administration of the Plan. The Committee's determination on the matters
referred to in this Section 2 will be conclusive.

3.   PARTICIPATION IN THE PLAN

          Persons who are now or shall become incumbent directors of the Company
who are not at the time employees of the Company or any subsidiary of the
Company (Eligible Directors") shall be eligible to participate in the Plan. A
director of the Company shall not be deemed to be an employee of the Company
solely by reason of the existence of a consulting contract between such director
and the Company or any subsidiary thereof pursuant to, which the director agrees
to provide consulting services as an independent consultant to the Company or
its subsidiaries on a regular or occasional basis for a stated consideration.

4.   STOCK SUBJECT TO THE PLAN

          The stock subject to the Plan shall consist of 600,000 shares of
Company's Common Stock, $.01 par value ("Common Stock"). Such shares may, as the
Committee shall from time to time determine, be either authorized and unissued
shares of Common Stock or issued shares of Common Stock which have been
reacquired by the Company. If a option shall expire or terminate for any reason
without having been exercised in full, the shares represented by the portion
thereof not so exercised shall (unless the Plan shall have been terminated)
become available for other Options to be granted under the Plan.

<Page>

5.   STOCK OPTIONS

          (a) Option Agreements. Each option granted under this Plan shall be
evidenced by a written agreement in such form as the Committee shall from time
to time approve, which agreements shall comply with and he subject to the terms
and conditions set forth in the Plan.

          (b) Issuance of Options. On the effective date of the Plan, each
director who is on that date an Eligible Director and thereafter any director
who becomes an Eligible Director, either upon initial election as a director or
upon a change in status from an employee of the Company to a nonemployee, shall
automatically be granted under the Plan an option to purchase 45,000 shares of
Common Stock. Subject to the provisions set forth elsewhere in the Plan, options
granted to any Eligible Director shall become exercisable, to the extent of one
third of the number of shares granted thereby (15,000 shares), on the date of
grant, and cumulatively to the extent of any additional one-third, on each of
the next two succeeding anniversaries, so that on the second anniversary of the
date of grant, the options granted to any Eligible Director shall be fully
exercisable.

          (c) Option Price per Share. All options granted hereunder shall be
exercisable at a price per share equal to the fair market value (as hereafter
defined) of a share of Common Stock on the date of the grant. For purposes of
the Plan, the term "fair market value" of a share of Common Stock shall mean, as
of the date on which such fair market value is to be determined, the fair market
value as determined by the Committee in such manner as it, in good faith, may
deem appropriate. If the Common Stock is at the time of reference publicly
traded, the fair market value shall be the closing price of a share of Common
Stock as reported in the Wall Street Journal (or a publication or reporting
service deemed equivalent to the Wall Street Journal for such purpose by the
Committee) for the over-the-counter market or any national securities exchange
and other securities market which at the time are included in the stock price
quotations of such publication. If no such sale is so reported for such date,
fair market value shall mean the average of the latest bid and asked prices so
reported for such date. In the event that the Committee shall determine such
stock price quotation is not representative of fair market value, the Committee
may determine fair market value in such a manner as it shall deem appropriate
under the circumstances. In no event shall the fair market value of any share of
Common Stock be less than its par value.

          (d)  Options Nontransferable.  Each option granted under the Plan by
its terms shall not be transferable by the optionee otherwise than by will, or
by the laws of descent and

                                       -2-
<PAGE>

distribution, or pursuant to a qualified domestic relations order as defined by
the Internal Revenue Code of 1986, as amended, or Title I of the Employee
Retirement income Security Act, or the rules thereunder, and shall be
exercisable during the lifetime of the optionee only by him. No option or
interest therein may be transferred, assigned, pledged, or hypothecated by the
optionee during his lifetime, whether or operation of law or otherwise, or be
made subject to execution, Attachment, or similar processed

          (e) Accelerated Vesting. Notwithstanding the provisions hereof
specifying the installments in which options shall be exercisable, options shall
become exercisable in full (i) upon the retirement of the director in accordance
with any mandatory retirement policy for members of the Board, which policy may
be established by the Board, (ii) upon the total and permanent disability or
death f the director, or (iii) if any of the following events shall occur: (a)
the Company shall execute a definitive agreement to merge or consolidate with or
into another corporation and the Company shall not be the surviving corporation
in the merger (or shall become a subsidiary of any other corporation party to
such merger agreement, unless such transaction shall involve no significant
change in beneficial ownership of the Company) and he stockholders of the
Company shall have approved the terms of such agreement; (b) the Company shall
enter into a definitive agreement to sell or otherwise dispose of all or
substantial all of its assets and the stockholders of the Company shall have
approved the terms of such agreement; or (c) any person or group shall acquire,
or increase its ownership to, more than 20% of the Company's then outstanding
voting stock.

          (f) Expiration of Options. No option shall be exercisable after the
expiration of the earlier of (i) five years from the date when such option was
granted or (ii) three years following (x) the retirement or resignation of the
optionee as a director of the Company, or (y) the failure of the optionee to be
reelected a director of the Company, or (z) the total and permanent disability
or death of the optionee.

          (g) Exercise of Options. options may be exercised only by notice to
the Company, accompanied by payment of the full purchase price for the shares as
to which they are exercised, as well as any federal, state, and/or local income
tax withholding required in connection with the exercise. Such purchase price,
together with any income tax withholding amount required, shall be paid in full
upon any exercise of an option (i) by cash including a personal check payable to
the order of the Company or (ii) by delivering at fair market value, valued as
of the date of delivery, Common Stock already owned by the optionee, or (iii) by
any combination of (i) and (ii) Shares which otherwise would be delivered to the
holder of an option exercise may, at the election of the holder, be retained by
the Company in payment of

                                       -3-
<PAGE>

any federal, state, and/or local income tax withholding due in connection with
an exercise, and shall be valued at fair market value as of the date of
exercise; provided, however, that the, payment of any amount of withholding tax
by an optionee with shares of Common Stock (whether already owned by the
optionee or retained by the Company from tie number of shares otherwise
deliverable to the optionee upon exercise) shall be subject to any restrictions
set forth in he related option agreement.

          (h)  Nonstatutory Options.  No option granted under the Plan shall
constitute in "incentive stock option" as that term is defined in the Internal
Revenue Code of 1986.

6.   MODIFICATION, EXTENSION, AND RENEWAL OF OPTIONS

          The Committee shall have the power to modify, extend or renew
outstanding options and authorize the grant of new options in substitution
therefor, provided that such power may not be exercised in a manner which would
(i) alter or impair any rights or obligations under any option previously
granted without the written consent of the optionee or (ii) adversely affect the
qualification of the Plan or any other stock-related plan of the Company under
Rule 16b-3 under the Securities Exchange Act of 1934 or any successor provision.

7.   ASSIGNMENT

          The rights and benefits under this Plan may not be assigned and any
attempted assignment of such rights and benefits shall be null and void.

8.   LIMITATION OF RIGHTS

          (a) No Right to Continue as a Director. Neither the Plan, nor the
granting of an option nor any other action taken pursuant to the Plan, shall
constitute or be evidence of any agreement or understanding, express or implied,
that the Company will retain a director for any period of time, or at any
particular rate of compensation.

          (b) No Stockholder's Rights for Optionees. An optionee or his
representative shall have no rights as a stockholder with respect to the shares
covered by his option until the date of the issuance to him or his
representative of a stock certificate therefor, and no adjustment will be made
for dividends or other rights for which the record date is prior to the date
such certificate is issued.

9.   CHANGES IN PRESENT STOCK

          In the event of any merger, consolidation, reorganization,
recapitalization, stock dividend, stock split or

                                       -4-
<PAGE>

other change in the corporate structure or capitalization affecting the
Company's present Common Stock, appropriate adjustment shall be made by the
Committee in the number and kind of shares which are or may become subject to
options granted or to be granted hereunder and the per share option price to be
paid therefor.

10.  EFFECTIVE DATE AND DURATION OF THE PLAN

          Options shall be granted under the Plan, subject to its authorization
and adoption by the Stockholders of the Company, at any time or from time to
time after its adoption by the Board of Directors, but no option shall be
exercisable under the Plan until the Plan shall have been adopted and approved
at the annual meeting of stockholders of the Company next following adoption of
the Plan by the Board. In tho event the Plan is not so adopted by stockholders,
all options which may have been granted shall be null and void. The Plan shall
terminate on December 31, 2005 (unless earlier discontinued by the Board) but
such termination shall not affect the rights of the holder of any option
outstanding on such date of termination.

11.  AMENDMENT OF THE PLAN

          The Board may suspend or discontinue the Plan or revise or amend it in
any respect whatever; provided, however, that without approval of the
Stockholders no revision or amendment shall change the number of shares subject
to the Plan (except as provided in Section 9), change the definition of the
class of directors eligible to receive options, or materially increase the
benefits accruing to participants under the Plan.

12.  COMPLIANCE WITH LAW, ETC.

          Notwithstanding any other provision of this Plan or agreements made
pursuant hereto, the Company shall not be required to issue or deliver any
certificate or certificates for shares of Common Stock under this Plan prior to
fulfillment of all of the following conditions:

          (a) Effectiveness of any registration or other qualification of such
shares or the Company under any state or federal law or regulation which the
Board shall, in its absolute discretion or upon the advice of counsel, deem
necessary or advisable; and

          (b) Grant of any other consent, approval or permit from any state or
federal governmental agency or securities exchange which the Board shall, in its
absolute discretion or upon the advice of counsel, deem necessary or advisable.

                                       -5-
<PAGE>

13.  NOTICE

          Any notice to the Company required by this Plan shall be in writing
addressed to the Secretary of the Company at its principal office, and shall be
deemed delivered only when it is received by the Secretary.

14.  GOVERNING LAW

          This Plan and all determinations made and actions taken pursuant
hereto shall be governed by the law of the State of Delaware, and construed
accordingly.

                                       -6-

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