Document:

AMENDMENT TO THE SALIX STOCK PLAN

AMENDMENT TO THE SALIX TECHNOLOGIES, INC.

OMNIBUS STOCK PLAN

 

WHEREAS, Salix Technologies, Inc. has heretofore established the Salix Technologies, Inc. Omnibus Stock Plan (the "Plan") for the benefit of eligible executives and key personnel of Salix Technologies, Inc. and its subsidiaries;

WHEREAS, Salix Technologies, Inc. was acquired by Oriole Merger Corp., a wholly-owned subsidiary of Tellabs, Inc. ("Sub"), and Sub was merged with and into Salix Technologies, Inc. (Tellabs, Inc. shall be known as the "
Company"; provided, however, that prior to the effective time of the merger, "Company" means Salix Technologies, Inc.);

WHEREAS, the Board of Directors of the Company deems it desirable to make certain amendments to the Plan relating to the vesting of options and stock appreciation rights ("SARs") and/or the post-employment exercise period in the
event of the death, disability, or retirement of an option or SAR holder, or a change in control of the Company; and

WHEREAS, the Board of Directors of the Company has considered the recommendations and has approved this Amendment to the Plan.

NOW, THEREFORE, BE IT RESOLVED, that the Plan is hereby amended, effective June 30, 2000, as follows :

	Under Section 2 of the Plan, the following definition of "Change in Control" shall be added:

(n)"Change in Control" means the first to occur of:

(i)Any "person" (as defined in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")), excluding for this purpose, Tellabs, Inc. ("Tellabs") or any subsidiary of
Tellabs, or any employee benefit plan of Tellabs or any subsidiary of Tellabs, or any person or entity organized, appointed or established by Tellabs for or pursuant to the terms of any such plan which acquires beneficial ownership of voting securities of
Tellabs, is or becomes the "beneficial owner" (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly of securities of Tellabs representing 20% or more of the combined voting power of Tellabs's then outstanding securities;
provided, however, that no Change in Control will be deemed to have occurred as a result of a change in ownership percentage resulting solely from an acquisition of securities by Tellabs; and provided further that no Change in Control will be deemed to
have occurred if a person inadvertently acquires an ownership interest of 20% or more but then promptly reduces that ownership interest below 20%;

(ii)During any two consecutive years (not including any period beginning prior to June 30, 2000), individuals who at the beginning of such two-year period constitute the Board of Directors of Tellabs and any new director (except for a
director designated by a person who has entered into an agreement with Tellabs to effect a transaction described elsewhere in this definition of Change in Control) whose election by the Board or nomination for election by Tellabs' stockholders was
approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved (such individuals and any such new director,
the "Incumbent Board") cease for any reason to constitute at least a majority of the Board;

(iii)Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of Tellabs (a "Business Combination"), in each case, unless, following such Business
Combination, (A) all or substantially all of the individuals and entities who were the beneficial owners of outstanding voting securities of Tellabs immediately prior to such Business Combination beneficially own, directly or indirectly, more than
50% of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the company resulting from such Business Combination (including, without limitation, a company which
as a result of such transaction owns Tellabs or all or substantially all of Tellabs' assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination
of the outstanding voting securities of Tellabs; (B) no person (excluding any company resulting from such Business Combination or any employee benefit plan (or related trust) of Tellabs or such company resulting from such Business Combination)
beneficially owns, directly or indirectly, 20% or more of, respectively, the then combined voting power of the then outstanding voting securities of such company except to the extent that such ownership existed prior to the Business Combination; and
(C) at least a majority of the members of the board of directors of the company resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board,
providing for such Business Combination; or

(iv)Approval by the stockholders of Tellabs of a complete liquidation or dissolution of Tellabs.

	Under Section 2 of the Plan, the following definition of "Disability" shall be added:

(p)"Disability" shall have the meaning ascribed to such term in Section 22(e)(3) of the Code.

	Section 8 shall be amended in its entirety to read as follows:

8.TERMINATION OF EMPLOYMENT.

Except as set forth in Section 8A with respect to the effect of a Change in Control or except as the Administrator may otherwise expressly provide in the Grant  Agreement evidencing an Award, the following rules shall apply upon termination
of the Grantee's employment with the Company and all Subsidiaries:    

(a)Except as set forth in subsections (b), (c), and (d) below, in the event that a Grantee who is an employee as of the date of grant of Awards hereunder shall cease to be employed by the Company or its subsidiaries for any reason other than a
termination for Cause, all vested Awards held by him pursuant to the Plan and not previously exercised at the date of such termination may be exercised for a period of ninety (90) days after the date of termination of the Grantee's employment,
subject to the terms of Paragraph 5(b) and the condition that no Award shall be exercisable after the expiration of ten (10) years from the date it is granted.  If the termination of employment is a termination by the Company for Cause, then all
Awards held by him pursuant to the Plan and not previously exercised at the date of such termination shall terminate immediately and become void and of no effect.  Authorized leaves of absence or absence for military service shall not constitute
termination of employment for the purpose of the Plan.

(b)In the event of termination of employment due to the death the Grantee, each Option and SAR held by the Grantee shall become exercisable in full and may be exercised at any time prior to the expiration date of such Award or within one year
after the date of the Grantee's death, whichever period is shorter.

(c)In the event of termination of employment due to the Disability of  the Grantee, each Option and SAR held by the Grantee may, to the extent exercisable at the time of termination of employment, be exercised at any time prior to the
expiration date of such Award or within three years after the date of the Grantee's termination of employment, whichever period is shorter.

(d)In the event of termination of employment due to the retirement of the Grantee on or after attaining age 55, all or a portion of each Option and SAR held by the Grantee, to the extent not then exercisable, shall become exercisable in
accordance with the schedule set forth below based upon one point for the Grantee's attained age and one point for each year of continuous service with the Company or its affiliates as of the date of retirement (including for this purpose, continuous
service with an entity prior to the date such entity was acquired by the Company or an affiliate of the Company, but excluding any service prior to January 1, 1975), 

At least 70 but less than 80 points          50% of each unvested Award shall vest

At least 80 but less than 90 points          75% of each unvested Award shall vest

At least 90 points                                  100% of each unvested
Award shall vest

and all Options and SARs held by the Grantee to the extent then exercisable may be exercised at any time prior to the expiration date of such Award or within three years after the date of the Grantee's retirement, whichever period is shorter.

(e)Notwithstanding anything in this Plan to the contrary, any incentive stock option which is exercised after the expiration of three months following the cessation of employment for any reason other than Disability or death or  one year after
the date of termination of employment due to Disability or death, shall be treated as a nonqualified stock option.

	The Plan shall hereby be amended by adding a new Section 8A to read:

8A.CHANGE IN CONTROL.

(a)Effect of Change in Control. Upon the occurrence of a Change in Control, any and all Options and SARs granted hereunder shall become immediately exercisable and remain exercisable until such Options and SARs expire or terminate under the
provisions of this Plan.

(b)Change in Control Not Approved by Incumbent Board.  Upon the occurrence of a Change in Control not approved by the Incumbent Board, any and all Options and SARs granted hereunder shall become immediately exercisable, and shall remain
exercisable throughout their entire term without regard to termination of employment subsequent to such Change in Control.  

 

IN WITNESS WHEREOF, the foregoing amendments to the Salix Technologies, Inc. Omnibus Stock Plan are hereby adopted as of the 30th day of June, 2000, by the undersigned officer duly authorized by resolutions adopted by the written consent of
the Board of Directors dated June 30, 2000.

 

SALIX TECHNOLOGIES, INC.

 

By: /s Brian J. Jackman 

Name: Brian J. Jackman 

Its: PresidentExhibit 10.31

                        AMENDMENT TO AMENDED AND RESTATED
                        ---------------------------------
                       AGREEMENT OF LIMITED PARTNERSHIP OF
                       -----------------------------------
                        PSA INSTITUTIONAL PARTNERS, L.P.,
                        ---------------------------------
                        A CALIFORNIA LIMITED PARTNERSHIP
                        --------------------------------

         This Amendment (the "AMENDMENT") to the Amended and Restated  Agreement
of  Limited  Partnership  (the  "MARCH  29TH  AGREEMENT")  of PSA  Institutional
Partners,  L.P., a California  Limited  Partnership dated March 29, 2000 is made
and entered into as of August 11, 2000 (the "EFFECTIVE  DATE") with reference to
the following facts:

         A.Pursuant  to Section  3.3 of the March 29th  Agreement,  the  General
Partner is authorized to cause the Partnership to issue certain additional units
of limited partnership interest without the consent of the Limited Partners.

         B. The General  Partner has determined that it is in the best interests
of the  Partnership  to create two new  classes  and  series of units,  with the
designations,  preferences and other rights, powers and duties set forth in this
Amendment,  to be known as Series P and Series P2 Preferred  Units, and to issue
those units as set forth below.

         C. Unless otherwise defined in this Amendment,  capitalized terms shall
have the meanings given to them in the March 29th Agreement.

         The parties agree as follows:

         1. The introductory paragraph of the March 29th Agreement is amended to
add the following as a new final sentence of that paragraph:

         "Meadowbrook Equity Fund III, LLC, a New York Limited Liability Company
         ("MEADOWBROOK")  has  become a limited  partner  effective  August  11,
         2000."

         2. The  following  definitions  shall be inserted into Section 1 of the
March 29th Agreement in the appropriate alphabetical order:

         "SERIES P PREFERRED  UNITS" means the series of  partnership  interests
         designated  as the  "8.75%  Series P  Cumulative  Redeemable  Perpetual
         Preferred  Units"  entitled to the rights  described in this Agreement.
         The Series P Preferred Units are Exchangeable  Preferred Units, and the
         Corresponding  Preferred Stock with respect to those units is the 8.75%
         Cumulative Preferred Stock, Series P, of the Company.

         "SERIES P2 PREFERRED  UNITS" means the series of partnership  interests
         designated  as the "8.75%  Series P2  Cumulative  Redeemable  Perpetual
         Preferred Units" entitled to the rights described in this Agreement.

         3. The  definition  of  "CONTRIBUTION  AGREEMENTS"  in the  March  29th
Agreement  is amended to add,  immediately  following  clause (iii) a new clause
(iv) to read:

         , (iv) Meadowbrook,  the Partnership and the Company dated as of August
         11, 2000

and to renumber the final clause of that definition as clause (v).

                                       1

<PAGE>

         4. The definition of "LIMITED  PARTNERS" in the March 29th Agreement is
amended to add, immediately following "the DLJ Limited Partners" the following:

         , Meadowbrook

         5. The  definition  of  "PARITY  PREFERRED  UNITS"  in the  March  29th
Agreement  is  amended  to add the  following  as a new final  sentence  of that
definition:

         The Series P  Preferred  Units and Series P2  Preferred  Units shall be
PARITY PREFERRED UNITS.

         6. The  definition of "PRIORITY  RETURN" in the March 29th Agreement is
amended to add, immediately following clause (ii) a new clause (iii) to read:

         , (iii) for the Series P Preferred  Units and Series P2 Preferred Units
         an amount equal to eight and three quarters  percent  (8.75%) per annum
         of the stated value of $25 per unit

and to renumber the final clause of that  definition as clause (iv),  and to add
the following as a new final sentence of that definition:

         In computing  Priority Returns,  one day's worth of return shall accrue
         for each full day that the units are outstanding (for example, if units
         are initially  issued on March 17, during that first  calendar  quarter
         the units  will be  outstanding  for 14 full  days,  and will  accrue a
         priority  return of  14/90ths of the amount that would be payable for a
         full calendar quarter).

         7. On the Effective Date: (a)  Meadowbrook  Equity Fund III, LLC, a New
York Limited Liability Company  ("MEADOWBROOK")  shall make or shall have made a
Capital  Contribution  to the  Partnership  of  $50,000,000  in cash and (b) the
Partnership  shall issue or shall have issued to Meadowbrook  2,000,000 Series P
Preferred  Units.  In order to reflect  the  issuance  of the Series P Preferred
Units to Meadowbrook  and the conversion of an equivalent  number of Partnership
Common Units held by the PS Limited  Partner into Series P2 Preferred  Units, on
the  Effective  Date,  Exhibit A to the March 29th  Agreement  is replaced  with
Exhibit A in the form attached to this Amendment.

         8.  Section  3.2 of the March  29th  Agreement  is  amended  to add the
following as a new penultimate sentence of that section:

         The address of Meadowbrook is Bessemer Trust Company, N.A., as Manager,
         630 Fifth Avenue, New York, New York 10111, Attention: General Counsel.

         9. Section 6.6.1 of the March 29th  Agreement is amended to read in its
entirety as follows:

         The Series N, Series O and Series P Preferred Units may not be redeemed
         prior  to the  fifth  (5th)  anniversary  of the  issuance  date of the
         particular  series to be  redeemed.  On or after the fifth  anniversary
         date of each  such  series,  the  Partnership  shall  have the right to
         redeem  the  Series  N,   Series  O  or  Series  P   Preferred   Units,
         respectively,  in whole or in part,  at any time or from  time to time,
         upon not less than thirty  (30) nor more than sixty (60) days'  written
         notice,  at  a  redemption  price,   payable  in  cash,  equal  to  the
         Liquidation  Preference  per Series N,  Series O or Series P  Preferred
         Unit to be redeemed (the "REDEMPTION  PRICE"). The rights of redemption
         of  any  subsequently   issued  Parity  Preferred  Units  shall  be  as
         designated in an amended Exhibit A to this Agreement. If fewer than all
         of the outstanding Parity Preferred Units of a particular series are to
         be  redeemed,  the  units to be  redeemed  from  that  series  shall be
         selected PRO RATA (as nearly as practicable without creating fractional
         units).

                                       2

<PAGE>

         10.  Section 6.7 of the March 29th  Agreement is amended to read in its
entirety as follows:

                  6.7 NO SINKING FUND. No sinking fund shall be established  for
         the  retirement  or  redemption  of  Series  N,  Series  O or  Series P
         Preferred Units.

         11.  Section 10.3 of the March 29th Agreement is amended to read in its
entirety as follows:

                  10.3 CERTAIN VOTING RIGHTS.

                           10.3.1  SERIES  O  PREFERRED  UNITS.  Holders  of the
         Series O  Preferred  Units will not have any voting  rights or right to
         consent to any matter  requiring the consent or approval of the Limited
         Partners,  except as set forth below. So long as any Series O Preferred
         Units  remain  outstanding,  the  Partnership  shall not,  without  the
         affirmative  vote of the holders of at least a majority of the Series O
         Preferred  Units  outstanding  at the  time,  take  any of the  actions
         described above in Sections  10.2.1,  10.2.2 and 10.2.3,  treating each
         reference  in those  provisions  to  "Series  N  Preferred  Units" as a
         reference instead to "Series O Preferred Units."

                           10.3.2  SERIES  P  PREFERRED  UNITS.  Holders  of the
         Series P  Preferred  Units will not have any voting  rights or right to
         consent to any matter  requiring the consent or approval of the Limited
         Partners,  except as set forth below. So long as any Series P Preferred
         Units  remain  outstanding,  the  Partnership  shall not,  without  the
         affirmative  vote of the holders of at least a majority of the Series P
         Preferred  Units  outstanding  at the  time,  take  any of the  actions
         described above in Sections  10.2.1,  10.2.2 and 10.2.3,  treating each
         reference  in those  provisions  to  "Series  N  Preferred  Units" as a
         reference instead to "Series P Preferred Units."

         12. The final  sentence of Section 11.2 of the March 29th  Agreement is
amended to add, immediately following clause (iv) a new clause (v) to read:

         , (v) a so called  "exchange"  fund managed by Bessemer  Trust Company,
         N.A.,  or one of its  affiliates  (in the case of transfers to entities
         described  in this clause (v),  transfers  may be made during the first
         year  after the date of this  Agreement  and the  requirement  that the
         transferee  acquire at least 500,000 Parity  Preferred  Units shall not
         apply,  so long as Series P Preferred Units are held by 5 or fewer such
         entities)

and to renumber the final clause of that definition as clause (vi).

         13.  Section  11.7.6 of the March 29th  Agreement is amended to replace
the reference to "Investment  Partnership Act of 1940" with "Investment  Company
Act of 1940".

         14.  Section  12.1.4 of the March 29th  Agreement is amended to add the
following new clause after clause (e):

                  (f) only with respect to the Series P Preferred  Units,  if at
         any time the  Partnership  shall  commence  a  voluntary  case or other
         proceeding  seeking  liquidation,  reorganization  or other relief with
         respect  to itself or its debts  under any  bankruptcy,  insolvency  or
         other similar law now or hereafter in effect or seeking the appointment
         of a trustee, receiver, liquidator, custodian or other similar official
         of it or any substantial part of its property,  or shall consent to any
         such relief or to the  appointment of or taking  possession by any such
         official in an involuntary case or other proceeding  commenced  against
         it, or shall make a general assignment for the benefit of creditors, or
         shall take any  corporate  action to authorize  any of the foregoing or
         shall  fail  generally  to pay its  debts  as they  become  due,  or an
         involuntary  case or other  proceeding  shall be commenced  against the
         partnership  seeking  liquidation,  reorganization or other relief with
         respect to it or its debts under any  bankruptcy,  insolvency  or other

                                       3

<PAGE>

         similar law now or hereafter in effect or seeking the  appointment of a
         trustee, receiver,  liquidator,  custodian or other similar official of
         it or any substantial  part of its property,  and such involuntary case
         or other proceeding shall remain  undismissed and unstayed for a period
         of 60 days;  or an  order  for  relief  shall be  entered  against  the
         Partnership  under the federal  bankruptcy  laws as now or hereafter in
         effect.

         15.  Section 12.2 of the March 29th Agreement is amended to read in its
entirety as follows:

                  12.2 RIGHT TO EXCHANGE.

                           12.2.1  SERIES  O  PREFERRED   UNITS.  The  Series  O
         Preferred  Units also shall be  exchangeable in the same fashion as are
         the Series N Preferred  Units:  the provisions of Section 12.1 shall be
         read as if restated in this Section 12.2.1, but as if each reference in
         those provisions to "Series N Preferred Units" instead were a reference
         to "Series O Preferred  Units," and by treating  each  reference to the
         "Series N  Preferred  Stock" as a  reference  to the 9.125%  Cumulative
         Preferred Stock, Series O, of the Company.

                           12.2.2  SERIES  P  PREFERRED   UNITS.  The  Series  P
         Preferred  Units also shall be  exchangeable in the same fashion as are
         the Series N Preferred  Units:  the provisions of Section 12.1 shall be
         read as if restated in this Section 12.2.2, but as if each reference in
         those provisions to "Series N Preferred Units" instead were a reference
         to "Series P Preferred  Units," and by treating  each  reference to the
         "Series P  Preferred  Stock"  as a  reference  to the 8.75%  Cumulative
         Preferred Stock, Series P, of the Company.

         16.  Except  as  expressly  provided  in  this  Amendment,  all  of the
provisions of the March 29th Agreement are ratified and confirmed,  and continue
in full force and effect.

                                       4

<PAGE>

         The  undersigned  have signed this  Amendment as of the date  indicated
above.

                         "GENERAL PARTNER:"

                         PS Texas Holdings, Ltd.,
                         a Texas limited partnership

                         By:  PS GPT Properties, Inc., a California corporation,
                              its general partner

                              By:   /S/ HARVEY LENKIN
                                    -----------------
                                    Harvey Lenkin, President

                         By:   /S/ DAVID P. SINGELYN
                               ---------------------
                               David P. Singelyn, Assistant Secretary

                         "LIMITED PARTNERS:"

                         PS LPT PROPERTIES INVESTORS,
                         a Maryland business trust

                         By:  /S/ HARVEY LENKIN
                              -----------------
                              Harvey Lenkin, President

                         By:  /S/ DAVID P. SINGELYN
                              ---------------------
                              David P. Singelyn, Assistant Secretary

                         MEADOWBROOK EQUITY FUND III, LLC,
                         a New York limited liability company

                         By:  Bessemer Trust Company, N.A., as Manager

                              By:   /S/ WILLIAM J. TYNE
                                    -------------------
                                    Name:    William J. Tyne
                                    Title:   Executive Vice President

                            [signatures continued]

                                        5

<PAGE>

                         ALL OTHER LIMITED PARTNERS

                         By:  PS Texas Holdings, Ltd.,
                              a Texas limited partnership,
                              as their attorney-in-fact

                              By:  PS GPT Properties, Inc.,
                                   a California corporation,
                                   its general partner

                                   By:  /S/ HARVEY LENKIN
                                        Harvey Lenkin
                                        President

                                   By:  /S/ DAVID P. SINGELYN
                                        ---------------------
                                        David P. Singelyn
                                        Assistant Secretary

ACKNOWLEDGED AND AGREED, AS TO THE
ISSUANCE OF COMPANY STOCK PURSUANT
TO SECTION 12 OF THE MARCH 29TH AGREEMENT:

"COMPANY"

PUBLIC STORAGE, INC.,
a California corporation

By:  /S/ HARVEY LENKIN
     -----------------
     Harvey Lenkin
     President

By:  /S/ DAVID P. SINGELYN
     ---------------------
     David P. Singelyn
     Assistant Secretary

                                       6

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