Document:

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                                                                     EXHIBIT 4.2

                    GLOBAL EMPLOYEE SHARE PURCHASE PLAN (US)

            REFLECTS ALL AMENDMENTS ADOPTED THROUGH NOVEMBER 1, 2002

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                    GLOBAL EMPLOYEE SHARE PURCHASE PLAN (US)

1. PURPOSE AND INTRODUCTION

The purpose of the Plan is to offer eligible employees the opportunity to
purchase Royal Dutch shares through periodic or regular after-tax payroll
deduction contributions. Through this plan, the company offers you the
opportunity to purchase Royal Dutch shares at a discount on a fixed day of the
year. Entitlement to the discount is dependent upon a participant having funds
available in the custody account on the purchase date.

2. DEFINITIONS

In these rules each of the following terms shall have the meaning set out next
to it:

o ACQUIRED SHARES -- Shares bought on behalf of a participant after the end of a
savings period with contributions made by the participant during the savings
period.

o BONUS -- A participant's incentive compensation payment (ICP) under his or her
employing company's incentive compensation program. For a participant who is not
an "employee" as such term is defined in such plan, his or her bonuses for these
purposes shall be determined by the plan owner in a fair and equitable manner to
be comparable to such terms for such purposes.

o BROKERAGE ACCOUNT -- A brokerage account established by the participant with
the third party administrator pursuant to Rule 4.4, into which acquired shares
may be transferred and from which other transactions may be effected.

o CONTRIBUTION -- The amount the participant contributes to the Plan through
after-tax payroll deductions stated as a percentage of total compensation
including salary and bonus.

o CUSTODY ACCOUNT -- A non-interest bearing account entered into by and between
the plan owner and a third party custodian in which the plan owner holds the
contributions on behalf of the participants.

o DIVIDEND -- A dividend paid with respect to shares the participant owns.

o ELIGIBLE EMPLOYEE -- A person who at the relevant date is:
         - A regular full-time, regular part-time employee, or a fixed-term
         employee of a participating company. For these purposes, a regular
         full-time or regular part-time employee is any employee whose customary
         employment with a participating company is at least twenty (20) hours
         per week.

o MAXIMUM DOLLAR AMOUNT -- The maximum dollar amount that may be contributed
during a savings period for the purchase of acquired shares as determined by the
plan owner in advance of the savings period.

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o MAXIMUM PERCENTAGE -- The maximum percentage amount of salary and bonus that
may be contributed by a participant in a savings period as determined by the
plan owner in advance of the savings period.

o MAXIMUM SHARE PURCHASE AMOUNT -- The maximum number of acquired shares that
may be purchased by a participant in a savings period as determined pursuant to
Rule 5.6.

o PARTICIPANT -- An eligible employee who enrolls and is accepted into the Plan.

o PARTICIPATING COMPANY -- The plan owner and such of its subsidiaries or
affiliates as it shall so designate.

o PLAN -- The Global Employee Share Purchase Plan (US) in its present form and
as amended from time to time in accordance with the rules.

o PLAN ADMINISTRATOR -- The Vice President (Human Resources) of Shell Oil
Company or the person or institution designated by him or her.

o PLAN OWNER -- Shell Oil Company (or, where appropriate, such entity as it may
designate pursuant to Rule 3).

o PURCHASE DATE -- The first trading day following the end of the savings period
being the date when accumulated contributions are used to purchase Royal Dutch
shares.

o PURCHASE DISCOUNT -- The discount to be applied to the market purchase price
of the acquired shares as determined by the plan owner in advance of the savings
period.

o ROYAL DUTCH -- Royal Dutch Petroleum Company, a company organized under the
laws of the Kingdom of the Netherlands.

o RULES -- These rules as amended from time to time.

o SALARY -- Base salary or wages as such terms are defined in the Shell
Provident Fund save in the case of participants who are fixed-term, employees or
working in the United States on expatriate assignment where it shall mean
"benefits base rate" (as such term is commonly used). For a participant to whom
these provisions are not relevant his or her base salary or wages for these
purposes shall be determined by the plan owner in a fair and equitable manner to
be comparable to such terms for such purposes.

o SAVINGS PERIOD -- A twelve-month period from January 1 to December 31st.

o SHARE -- A registered fully paid ordinary share of E.0.56 in the capital of
Royal Dutch bought on the New York Stock Exchange.

o THIRD PARTY ADMINISTRATOR -- The individual or entity (or such entity as it
may designate) which performs certain administrative and record-keeping services
necessary for the proper operation of the Plan pursuant to an administrative
services agreement with the plan owner.

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o TRADING DAY -- A day on which the New York Stock Exchange is open for trading.

o WITHDRAWAL DATE -- The date upon which a participant's withdrawal from the
Plan takes effect.

o WITHDRAWAL NOTICE-- A written notice from the participant in such form, as may
from time to time be approved by the plan owner, requesting withdrawal from the
Plan.

3. ADMINISTRATION OF THE PLAN

1. The Plan shall be administered by the plan owner. The plan owner may exercise
its rights and powers pursuant to these rules by resolution of its Board of
Directors and may, by such resolution, delegate the exercise of any of those
rights or powers, including the appointment of a plan administrator as provided
herein in Rule 3.2 below, with the exception of:

         a)       The determination of the percentage amount of the purchase
                  discount in a savings period if different from that in the
                  preceding savings period.

         b)       The right pursuant to Rule 17.

         c)       The right to alter, vary, or add pursuant to Rule 16.

2. The plan owner may designate a plan administrator to administer the Plan,
subject to the limitations described in Rule 3.1.

3. The plan owner, or its designated plan administrator, shall have full and
exclusive discretionary authority to construe, interpret and apply the terms of
the Plan, to designate which affiliated companies are eligible to participate in
the Plan, to determine participant eligibility and to adjudicate all disputed
claims filed under the Plan, and to adopt rules of procedure and regulations
necessary for the administration of the Plan. Every finding, decision and
determination made by the Board or its plan administrator shall, to the full
extent permitted by law, be final and binding upon all parties.

4. The plan owner, or its designated plan administrator, may designate such
agents (including third party administrators as provided in Rule 3.5) and employ
persons to perform (or assist him or her in the performance of) the specific or
related functions assigned to him or her and delegate responsibility to these
persons.

5. The plan owner, or its designated plan administrator, may under the terms of
one or more administrative services agreements designate third party
administrators to perform such duties or responsibilities as are necessary in
the administration of the Plan; except that the plan administrator may not
delegate the power to designate affiliated companies eligible to participate in
the Plan.

4. ELIGIBILITY AND PARTICIPATION

1. An invitation to apply to participate in the Plan shall be issued prior to
each savings period in such form and by such method as the plan owner may from
time to time determine.

2. Eligible employees will be required to enroll in the Plan and specify the
contribution percentage they wish to make for each plan year. The application to
enroll must be made in

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writing or in such other form and manner as the plan owner may determine, and be
submitted by the date and to such party as the plan owner may specify

3. If a person becomes an eligible employee after the relevant date then that
person may, within 30 days of becoming an eligible employee, apply to enroll in
the Plan if, immediately prior to becoming an eligible employee, he or she (a)
was participating in Shell's Global Employee Share Purchase Plan outside the
United States or (b) meets such other criteria as the plan owner may specify.

4. An application to enroll will not be accepted unless the participant
establishes a brokerage account by completing an account application and such
other documents as the plan owner or third party administrator may require in
connection with the establishment of such account.

5. A participant must re-enroll in the Plan in respect of each savings period
except where he or she has, by such method as the plan owner may determine,
elected for automatic re-enrollment. Where an election for automatic
re-enrollment is in effect, participation in subsequent savings periods will be
automatic and contributions will be at the contribution percentage amount that
the participant has, by such method as the plan owner may determine, elected as
a default contribution percentage. The minimum default contribution percentage
shall be 1%.

6. If a participant ceases to be an eligible employee, then no further
contributions shall be accepted on his or her behalf. Any accumulated monies in
his or her custody account shall be applied to purchase shares for such
participant in accordance with Rule 6, except as otherwise provided under Rule
11 in the event of death.

7. The plan owner reserves the right to restrict or delay participation in the
Plan of those otherwise eligible employees who accept a group transfer to a
country that requires any local approval or consent for share plan participation
and accordingly to establish special enrollment periods in circumstances where
participation has been so restricted or delayed.

8. Any provisions in the rules to the contrary notwithstanding, no participant
shall be granted any right under the Plan (i) to the extent that, immediately
after the grant, such participant (or any other person whose stock would be
attributed to such participant pursuant to section 424(d) of the Internal
Revenue Code of 1986) would own capital stock of Royal Dutch and/or hold
outstanding options to purchase such stock possessing five percent (5%) or more
of the total combined voting power or value of all classes of the capital stock
of Royal Dutch or of any subsidiary, or (ii) to the extent that his or her
rights to purchase stock under all employee stock purchase plans of Royal Dutch
and its subsidiaries accrues at a rate which exceeds Twenty-Five Thousand
Dollars ($25,000) worth of shares (determined at the fair market value of the
shares at the time such option is granted) for each calendar year in which such
option is outstanding at any time.

9. The plan owner may permit the contingent enrollment of individuals who are
not eligible employees provided that such individuals enrollment shall be of no
force or effect unless such individual becomes an eligible employee before or
coincident with the start of the next savings period.

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5. CONTRIBUTIONS AND PLAN LIMITS

1. Contributions shall be made by deduction of a percentage amount of salary and
bonus on each payday during the savings period. The contribution percentage may
be any increment of 1/2%, with a minimum contribution of 1% and a maximum of
25%.

2. Contributions shall be remitted to the third party custodian and credited to
the custody account as soon as possible and in any event within 14 days of the
deduction of pay.

3. A participant may change the amount of the contribution percentage at any
time after the initial contribution has been made in a savings period.

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4. A participant's contributions for a savings period shall not exceed the
lesser of:

         (a)      Twenty-five percent (25%) of the participant's salary and
                  bonus in that savings period; or

         (b)      The maximum dollar amount for that savings period.

Also, a participant's contribution in a single pay period shall not exceed 25%
of the participant's salary and bonus in that pay period.

5. For purposes of Rules 5.4 and 5.7 the maximum dollar amount applicable in a
savings period shall be limited such that:

         (a)      An application to enroll in the circumstances set out in Rule
                  4.2 will only be accepted on the basis that the maximum dollar
                  amount shall be prorated to reflect the number of months
                  remaining in that savings period at the time the person became
                  an eligible employee;

         (b)      Where an eligible employee is participating in the Sharesave
                  Scheme offered by Shell companies in the United Kingdom (or
                  such other plan offered by a Shell company and specified by
                  the plan owner as being subject to this provision) then the
                  maximum dollar limit applicable in a savings period shall be
                  reduced by the dollar equivalent (as determined by the plan
                  owner) of the amount that the participant has elected to
                  contribute to Sharesave (or such other plan) during the same
                  period.

6. The number of acquired shares that may be purchased on behalf of a
participant with respect to a savings period shall in no event exceed the
maximum share purchase amount. The maximum share purchase amount, rounded down
to the nearest whole number, shall be determined on the first trading day of the
savings period in accordance with the following formula: A=B/(C-D), where

         A = Maximum share purchase amount
         B = Maximum dollar amount
         C = Closing price of the shares on the first trading day of the savings
             period
         D = Closing price of the shares on the first trading day of the
             savings period multiplied by the purchase discount

7. At the time the total amount of contributions made by a participant in a
savings period equals the maximum dollar amount then contributions shall be
suspended until the end of the savings period. Where a participant has withdrawn
monies from the custody account pursuant to Rule 10, then for the purposes only
of Rule 5.4 and this Rule 5.7, the applicable maximum dollar amount for the
participant shall be reduced by a sum equal to the amount withdrawn from the
custody account.

8. The participant shall not make any additional payments into the custody
account for the purchase of shares; except that, subject to administrative
availability, a participant may authorize the transfer from his or her brokerage
account of such amounts as are necessary to pay the amount of any taxes which
must be withheld, as provided in Rules 6.4 and 6.5.

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6. SHARE PURCHASE

1. All contributions made in a savings period by a participant shall be subject
to the limits in Rule 5 and to any withdrawal of contributions that has been
made in accordance with Rule 10 or Rule 11 will be applied to the purchase of
shares on the purchase date except as otherwise provided in this Rule 6.

2. Acquired shares shall be credited to the participant's brokerage account
within 1-3 business days after the purchase date.

3. The price of an acquired share shall be the lesser of the price of the
shares, reduced by the purchase discount, at the close of trading either on the
first trading day of the savings period or on the first trading day following
the end of the savings period.

4. Any taxes incurred as a result of the purchase of acquired shares under the
Plan shall be the responsibility of the participant and no tax assistance shall
be provided. A participating company may withhold from cash payments, or any
other funds or property due or to become due to the participant, a sufficient
amount to satisfy all federal, state and local, or other governmental tax
withholding.

5. As a condition of participation and, in order to meet any tax withholding
requirement described in Rule 6.4, a participant must agree and authorize the
transfer of an estimated tax withholding obligation payment from the custody
account to the plan owner and/or his or her participating company. Such
estimated tax withholding obligation payment shall be made in the following
manner:

         a)       On the trading day next following the purchase date and before
                  any acquired shares are transferred to the participant's
                  brokerage account, shares in an amount estimated to be
                  sufficient to cover such estimated tax obligation payment
                  shall be withheld at the closing price of the shares on the
                  purchase date. The participating company shall credit the
                  estimated withholding tax payment to the actual tax
                  withholding obligation, and remit the excess to the
                  participant if the estimated withholding tax obligation
                  payment is in excess of the actual withholding tax obligation
                  associated with the purchase; or if such payment is
                  insufficient to cover the withholding obligation, withhold an
                  additional amount sufficient to satisfy such tax withholding
                  obligation from other payments due the participant. There will
                  be no fractional shares withheld or remitted to the
                  participant.

6. The estimated tax withholding obligation shall be determined by the plan
owner assuming a federal income tax withholding rate of 27% or other applicable
rate, a maximum FICA tax withholding, and, if applicable, a state income tax
and/or other tax withholding at a rate determined by the plan owner.

7. Any residual cash (reflecting any fractional shares) in the custody account
after the purchase of acquired shares and satisfaction of the estimated tax
withholding obligation shall be transferred to the participant's brokerage
account.

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8. Subject to adjustment pursuant to Rule 18 upon changes in capitalization of
Royal Dutch, the maximum number of shares of Royal Dutch which shall be made
available for sale to the participants under the Plan shall be 4,000,000 shares.
If on a given purchase date, the number of shares to be purchased exceeds the
number of shares then available under the Plan, the plan owner shall make a pro
rata allocation of the shares remaining available for purchase in as uniform a
manner as shall be practicable and as it shall determine to be equitable.

7. STATEMENTS

1. Statements shall be provided to all participants at least quarterly. The
statements shall include the following:

         a)       The total number of shares held.

         b)       The contribution amount to date within a savings period.

         c)       The number of acquired shares bought with contributions made
                  during the previous savings period, the date on which the
                  shares were allocated, and the price at which they were
                  allocated, and the payment made for the estimated tax
                  withholding obligation.

         d)       The number of shares sold by the participant including the
                  date and price at which the shares were sold.

2. This statement/information may be provided and reported through the
participant's brokerage account.

8. INTEREST AND PAYMENTS TO PARTICIPANTS

1. No interest or other type of earnings shall be payable to the participant on
any amounts set aside through payroll deductions through the Plan or on any
amounts due to the participant pursuant to the rules.

9. SUSPENSION OF CONTRIBUTIONS

1. A participant may suspend contributions by reducing his or her contribution
percentage to zero percent. A participant who has suspended contributions may
re-commence contributions to the Plan at any time during the savings period.

2. If a notice to suspend contributions is received, the suspension shall be in
effect by the end of the participant's next two payroll periods.

3. There are no limits as to how many times a participant may suspend his or her
contributions and he or she may do so for an indefinite period.

4. If contributions are suspended indefinitely and an election for automatic
re-enrollment is in effect, then the participant's contributions will recommence
automatically at the beginning of the next savings period at the default
contribution percentage specified by the participant in accordance with Rule
4.4.

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5. If suspension occurs then:

         a)       Suspended contributions may not be made up regardless of the
                  reason for which they were suspended.

         b)       Contributions made in the savings period in which suspension
                  becomes effective shall be applied in accordance with Rule 6.

10. WITHDRAWAL FROM THE PLAN

1. A participant may withdraw from the Plan by requesting a total withdrawal in
such manner and form as the plan owner may provide.

2. If there is a total withdrawal from the Plan, the participant's contributions
shall be transferred from the custody account and made available in his or her
brokerage account within 3-5 business days of the withdrawal date. The
participant may no longer make contributions to the Plan unless he or she
re-enrolls for a subsequent savings period.

3. A participant may request a partial withdrawal of his or her contributions to
date. The participant's contributions remaining shall be used to purchase
acquired shares in accordance with Rule 6.

4. No transaction fees shall apply to withdrawals that are made from the Plan.

5. Total withdrawal from the Plan shall not affect upon the continued existence
of a participant's brokerage account which shall continue to be governed by the
terms applicable thereto.

11. DEATH OF A PARTICIPANT

1. If a participant dies then he or she shall be deemed to have totally
withdrawn from the Plan and contributions shall cease as soon as practicable
after the plan owner is informed of the participant's death. Contributions
already made but not applied to the purchase of shares will not be used to
purchase shares, but will be transferred to the participant's brokerage account
and the brokerage account will be treated in accordance with applicable
testamentary law.

12. LOSS OF OFFICE

1. The rights and obligations of a participant under the terms of his or her
office or employment shall not be affected by his or her participation in the
Plan or any right he or she may have to participate in the Plan. An individual
who participates in the Plan waives all and any rights to compensation or
damages in consequence of the termination of his or her office or employment
within any participating company for any reason whatsoever insofar as those
rights arise, or may arise from him or her ceasing to have rights under the Plan
as a result of such termination or from the loss or diminution of value of such
rights or entitlements.

13. BENEFITS NON-PENSIONABLE

1. Benefits under the Plan will not form part of a participant's remuneration
for the purposes of determining entitlement to any benefit of employment
including any pension or retirement

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benefit, life insurance, health insurance or other similar benefit, whether
existing or subsequently introduced, except as otherwise expressly provided
under the terms of any such Plan.

14. INVESTMENT RISK

1. The value of Royal Dutch shares can go down as well as up. The risks of
fluctuation in the value of the shares are borne by the participant. Neither
Royal Dutch, Shell Oil Company, Shell Petroleum, Inc., any participating
company, the plan administrator, the third party administrator nor its
affiliated brokerage firm, shall have any liability to the participant for any
market losses because of the fluctuation in value of Royal Dutch shares.

15. TRANSFER OF RIGHTS

1. The contributions held on behalf of a participant are personal to that
participant. In the case of any attempt to transfer, assign, pledge or otherwise
dispose of such contribution in any way other than by will or in accordance with
any applicable matrimonial laws or the laws of descent in contravention of this
Rule shall be without effect and the participant shall be deemed to have totally
withdrawn from the Plan with immediate effect and the provisions of Rule 10
shall apply.

16. AMENDMENTS

1. Save as otherwise provided in Rule 16.2, the plan owner may at any time
alter, vary or add to the provisions of the Plan in any relation to the
operation of the Plan generally or in respect of any participant.

2. The plan owner may:

         a)       Not vary the provisions of this Rule 16.2 or 16.3.

         b)       Only vary the percentage of the purchase discount with effect
                  from the beginning of the savings period.

3. As soon as reasonably practicable after any alteration, variation or
addition, plan owner shall give notice to any participant who is materially
affected by the alteration, variation or addition.

17. TERMINATION AND SUSPENSION

1. The plan owner may at any time suspend the operation of the Plan by giving
notice to the participants in such form as the plan owner may, from time to time
determine and, in such event, contributions shall permanently cease with effect
from the termination date specified in the notice. If the plan owner terminates
the operation of the Plan, then the provisions for total withdrawal under Rule
10 shall apply and the termination date shall be treated as the withdrawal date.

18. ADJUSTMENTS/REORGANIZATIONS

1. In the event that the number of outstanding shares is changed by a stock
dividend, stock split, reverse stock split, combination, reclassification or
similar change in the capital structure of Royal Dutch without consideration,
the number of shares available under this Plan and the number of

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shares remaining subject to purchase and the purchase price per share of such
remaining shares shall be proportionately adjusted, subject to any required
action by the shareholders of Royal Dutch and compliance with applicable
securities laws; provided, however, that no fractional shares shall be issued
and any resulting fraction of a share shall be rounded down to the nearest whole
share.

19. NOTICES

1. All notices or communications under or in connection with the Plan that are
to be given by the participant or by any eligible employee shall be given in
accordance with this Rule 19 and shall only be effective:

         a)       If given in such form as the plan owner may, from time to
                  time, determine; and

         b)       If given to the party specified or, if no party is specified,
                  given to the plan owner; and

         c)       If given in accordance with this rule and in accordance with
                  any method specified; and

         d)       If and when received.

2. Any notice, communication or other documents required to be given to a
participant under or in connection with the Plan may be delivered or sent by
mail to the address given in his or her enrollment form (or given in any
subsequent notice if different) or at his or her address according to the
records of his or her participating company or such other address as may appear
to the party giving the notice to be appropriate. Notices sent to the
participant by first class or equivalent post shall be deemed to have been given
between 3 to 5 business days following the date of posting.

3. Any notice or other document required to be given under or in connection with
the Plan:

         a)       To the plan owner may be delivered or sent by mail to them at
                  their registered office (or such other place or places as the
                  relevant party may from time to time determine and notify to
                  participants);

         b)       To the plan administrator or third party administrator shall
                  be addressed with the name and reference indicator and address
                  communicated to the participants from time to time.

4. All notices, communications, documents or share certificates sent by mail
that are sent in accordance with this Rule 19 are sent at the risk of the
intended recipient and neither the plan owner, the plan administrator, nor the
third party administrator shall have any liability whatsoever in respect of any
that arrive incomplete, damaged or in respect of any non receipt.

20. MISCELLANEOUS PROVISIONS

1. No person shall have any claim or right to purchase shares under the Plan,
and no participant shall have any right under the Plan to be retained in the
employ of any employer.

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2. No participant or any other person shall have any of the rights of a
shareholder with respect to shares purchasable under the Plan until such shares
have been issued or transferred to him or her pursuant to the Plan.

3. Any termination of a participant's participation in the Plan shall be without
prejudice to any legal right or remedy that the plan owner or any affiliate may
have against the participant or any other person.

4. The Plan shall inure to the benefit of and be binding upon each successor and
assign of plan owner.

5. Any taxes incurred as a result of the purchase of shares under the Plan shall
be the responsibility of the participant and no tax assistance shall be
provided.

6. The use of the singular may include the plural, and the plural may include
the singular, unless the context clearly indicates to the contrary.

7. Any expenses of administering the Plan shall be borne by the participating
company.

21. SEVERABILITY

1. If a provision of these rules is or becomes illegal, invalid or unenforceable
in any jurisdiction, that shall not affect:

         a)       The validity or enforceability in that jurisdiction of any
                  other provision of these rules; or

         b)       The validity or enforceability in any other jurisdiction of
                  that or any other provision of these rules.

22. GOVERNING LAW

1. All questions arising with respect to the provisions of this Plan shall be
determined by application of the laws of the State of Texas, without regard to
the conflict of laws provisions thereof, except to the extent Texas law is
preempted by Federal statute. The obligation of plan owner to sell and deliver
shares under the Plan is subject to applicable laws and to the approval of any
governmental authority required in connection with the authorization, issuance,
sale or delivery of such shares.

23. EFFECTIVE DATE

1. The provisions of this Plan shall be effective as of November 1, 2001, with
the first savings period commencing January 1, 2002.

                                       12<PAGE>
                                                                     EXHIBIT 4.3

                          ROYAL DUTCH STOCK OPTION PLAN
              FOR EMPLOYEES OF SHELL SOLAR EMPLOYMENT SERVICES INC.

                          ARTICLE A. GENERAL PROVISIONS

1.       PURPOSE. The purpose of this Royal Dutch Stock Option Plan for
         Employees of Shell Solar Employment Services Inc. (the "Plan") is to
         advance the interests of Shell Solar Employment Services Inc. (the
         "Company") and to provide a means whereby the Company may, through the
         grant of stock options to certain employees ("Participants"), help to
         attract and retain, and encourage performance of superior quality by,
         the key personnel upon whom, in large measure, continued progress,
         growth, success and profitability of the Company and its affiliates
         depend.

2.       TYPES OF OPTIONS AND SHARES. "Options" granted under this Plan will be
         non-qualified stock options. The shares of stock that may be purchased
         or distributed upon exercise of the Options are Ordinary Shares of
         Royal Dutch Petroleum Company (the "Shares").

3.       PLAN ADMINISTRATION AND AUTHORITIES. The Plan shall be administered by
         the Company, which shall have full and final authority in its sole
         discretion, subject to paragraph 4 of Article B, to amend the Plan; to
         conclusively interpret the provisions of the Plan and any Agreement;
         and to make all other decisions relating to the operation of the Plan
         and any Agreement. Subject to the express provisions of the Plan, the
         Company will also have complete authority to determine the terms and
         provisions of each Agreement (which need not be the same); to determine
         the rights and obligations of Participants; to determine or approve the
         persons to be granted Options, when such Options shall be granted, the
         number of Shares and terms with respect to such Options, the Grant
         Price; and to make all other determinations deemed necessary or
         advisable for the administration of the Plan. Determinations by the
         Company under the Plan shall be conclusive and binding for all
         purposes. The Vice President--Human Resources of the Company and/or
         other individual or agent designated to do so shall be responsible for
         maintaining records, making the requisite calculations, receiving
         notices and elections, determining whether the conditions of exercise
         have been met and the like.

4.       ACQUISITION OF SHARES. The Company shall acquire Shares for delivery
         upon exercise of Options under this Plan by purchasing Shares in public
         market transactions or in such other manner as the Company shall
         determine.

5.       ELIGIBILITY. Employees designated by the Company ("Participants") shall
         be eligible to be granted Options pursuant to this Plan. Any
         Participant may hold more than one Option grant hereunder.

6.       VESTING. One-third of the Options (rounded to the nearest whole Share)
         will vest annually beginning 12 months from the date of grant and may
         be exercised at any time after vesting, subject to the provisions of
         the Agreement and the Plan.

7.       TERM OF OPTIONS. Options shall be exercisable during such period or
         periods as provided in the Agreement, and shall be subject to earlier
         termination as hereinafter provided:

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         (a)      The term of the Options is ten (10) years from the date of
                  grant as stated in the Agreement unless terminated earlier by
                  the Participant's (i) termination without the written consent
                  of the employing company, (ii) discharge for cause, or (iii)
                  death;

         (b)      If a Participant terminates employment without written consent
                  of the employing company, all unvested Options shall forthwith
                  terminate and vested Options must be exercised within 30 days
                  from the later of the termination date, or the end of a
                  blackout period which includes the termination date, at the
                  end of which 30 day period the vested Options shall terminate;

         (c)      In the event a Participant shall cease to be an employee by
                  reason of discharge for cause, all unexercised Options (vested
                  and unvested) shall forthwith terminate. The Company may
                  terminate the Options for cause if it finds during or after
                  the Participant's employment that the individual (i) was
                  guilty of fraud or dishonesty with respect to one of the
                  Companies or the Royal Dutch/Shell Group of Companies, (ii)
                  willfully damaged the assets of, or engaged in misconduct
                  which in any material respect is injurious to, one of the
                  Companies or the Royal Dutch/Shell Group of Companies, (iii)
                  wrongfully disclosed or used any proprietary or confidential
                  information which is related to the business, properties or
                  affairs of one of the Companies or the Royal Dutch/Shell Group
                  of Companies and the release of which is detrimental in any
                  material respect to the competitive position or goodwill of
                  one of the Companies or the Royal Dutch/Shell Group of
                  Companies, or (iv) engaged in any activity in any material
                  respect which reasonably constitutes a conflict with the
                  interests of one of the Companies or the Royal Dutch/Shell
                  Group of Companies;

         (d)      If a Participant holding Options shall die, all unexercised
                  Options shall vest immediately and may, subject to the
                  provisions of their Agreements and of this Article A, be
                  exercised by the estate of the decedent, or by a person who
                  acquired the right to exercise such Options by bequest or
                  inheritance or by reason of the death of the decedent, until
                  13 months from the date of the Participant's death, at the end
                  of which period the Options shall terminate;

         (e)      If a Participant shall cease to be an employee by reason of
                  Retirement, total and permanent disability or other
                  termination with written consent of the employing company, the
                  Options shall continue to vest in accordance with the vesting
                  schedule described in paragraph 6 of Article A;

         (f)      Options shall continue to vest in accordance with the vesting
                  schedule described in paragraph 6 of Article A in the event of
                  a change in duties or position so long as the Participant
                  continues to be an employee of one of the Companies or one of
                  the Royal Dutch/Shell Group of Companies;

2002 RD Stock Option Plan for Solar                                            2
<PAGE>

         (g)      Election or acceptance of public office or employment or the
                  performance of the duties of such office or employment shall
                  not constitute grounds for termination of the Options;

         (h)      In the event that a Participant is granted a temporary leave
                  of absence (including military or sick leave, leave to enter
                  governmental employment or, for purposes of this Plan only,
                  assignment with an entity affiliated by direct or indirect
                  ownership of the Company), employment shall be deemed to
                  continue for purposes of the Plan;

         (i)      If a Participant or other holder shall otherwise fail to
                  observe the terms of the Agreement, the Options held pursuant
                  to such Agreement shall forthwith terminate.

         In no event, however, shall any Options granted hereunder be
         exercisable after the expiration of ten years from the date of grant of
         such Options.

8.       EMPLOYEE'S AGREEMENT TO SERVE. The acceptance of a grant of Options
         shall constitute an agreement by the Participant:

         (a)      unless the Participant Retires, becomes totally and
                  permanently disabled or terminates with the written consent of
                  his/her employing company, to remain an employee of one of the
                  Royal Dutch/Shell Group of Companies (i) during the period of
                  vesting or (ii) until any later date to which the Participant
                  is already contractually obligated to remain so employed; and

         (b)      for so long as the Participant is employed by one of the Royal
                  Dutch/Shell Group of Companies, that to the extent permitted
                  by applicable law, all communications and information
                  regarding the Plan and Options may be sent to the Participant
                  by electronic transmission (e.g., e-mail) or be retrievable
                  from internet sites maintained by one of the Companies or the
                  Third Party Administrator.

9.       NO TRANSFERABILITY. Neither the Options nor any interest in this Plan
         shall be transferable or assignable by a Participant, whether
         voluntarily, involuntarily, by operation of law or otherwise during the
         Participant's lifetime and at said Participant's death, the Options or
         any part thereof shall only be transferable by will, the laws of
         descent and distribution or by beneficiary designation in the form
         provided by the Company and incorporated herein by reference. Options
         may be exercised during the Participant's lifetime only by the
         Participant.

10.      EXERCISE AND PAYMENT. Options shall be exercisable at such times and in
         such installments as provided in the terms of this Plan and the
         Agreement. The Options may be exercised by the Participant giving
         notice in the proper form to the Company through the Company's
         designated Third Party Administrator specifying the number of Options
         to be exercised and the manner of exercise. The Third Party
         Administrator shall determine whether the Options may be exercised at
         the time the notice is received in accordance with the provisions of
         this Plan. In the event of doubt, the issue will be referred to the
         Corporate Secretary of the

2002 RD Stock Option Plan for Solar                                            3
<PAGE>

         Company for resolution. Each notice shall constitute a representation
         that the Participant (or the person exercising the Options, in
         accordance with paragraph 7(d) of Article A) is not in possession of
         any material inside information pertaining to the Royal Dutch/Shell
         Group of Companies and is not aware of any legal constraint to such
         exercise. Settlement will be made within 10 business days from the date
         on which all actions necessary to complete the exercise have been
         completed. Unless a later date is required hereunder, the effective
         date of the exercise shall be the date when a proper notice of exercise
         is made to the Company's designated Third Party Administrator by
         telephone or other electronic means approved by the Company.

         Payment of the Grant Price may be made by the Participant:

         (a)      in cash or by check;

         (b)      through the delivery of irrevocable instructions to a
                  broker-dealer selected by the Company that is a member of the
                  National Association of Securities Dealers (a "NASD Dealer")
                  to deliver promptly to the Company or its Third Party
                  Administrator an amount equal to the aggregate Grant Price for
                  the Shares being purchased and any applicable federal, state
                  and local, or other government withholding taxes; or

         (c)      by any combination of the foregoing.

11.      ADJUSTMENTS. In the event that the number of outstanding Shares is
         changed by a stock dividend, stock split, reverse stock split,
         combination, reclassification or similar change in the capital
         structure of Royal Dutch without consideration, the number of Shares
         available under this Plan and the number of Shares subject to
         outstanding Options and the Grant Price per Share of such outstanding
         Options shall be proportionately adjusted, subject to any required
         action by the shareholders of Royal Dutch and compliance with
         applicable securities laws; provided, however, that no fractional
         Shares shall be issued upon exercise of any Option and any resulting
         fractions of a Share shall be rounded up to the nearest whole Share.
         Agreements shall be also adjusted as deemed appropriate by the Company
         to recognize any factors that the Company in its sole discretion
         determines appropriate, fair and equitable under the circumstances.

12.      CONDITIONS UPON EXERCISE. A Participant may exercise his/her vested
         Options at any time during the remaining term of the Options, provided
         that he/she conforms to all applicable laws, rules and regulations and
         the New York Stock Exchange Rules, and subject to the following
         limitations:

         (a)      a Participant may not exercise the Options with respect to
                  less than 100 Shares unless the number of Options remaining
                  unexercised is less than 100, in which case he/she may
                  exercise the Options remaining;

         (b)      a Participant may not exercise the Options when he/she is in
                  possession of material inside information pertaining to the
                  Royal Dutch/Shell Group of Companies. Any profit gained which
                  is later determined to be attributable to material inside
                  information shall be paid to the Company; and

2002 RD Stock Option Plan for Solar                                            4
<PAGE>

         (c)      a Participant may not exercise the Options during any period
                  during which special circumstances exist that preclude their
                  exercise for specified periods ("Blackout Periods") as advised
                  to him/her by the Corporate Secretary's Office or through the
                  Company's designated Third Party Administrator. Blackout
                  Period restrictions shall continue to apply to a Participant
                  for 180 days following Retirement or other termination but
                  shall not apply to a person exercising pursuant to paragraph
                  7(d) of Article A.

                            ARTICLE B. MISCELLANEOUS

1.       DEFINITIONS. For the purpose of the Plan and the Agreement, except
         where the context otherwise indicates, the following terms shall have
         the respective meanings indicated:

         "Agreement" means a written agreement between the Company and a
         Participant evidencing the grant of Options, incorporated by reference
         herein and having such terms and conditions of Options, or
         modifications or amendments thereof, as the Company shall approve.

         "Companies" means the Company, and any subsidiary corporation or other
         entity of which the Company, Shell Solar Industries LP or Shell
         Petroleum Inc. directly or indirectly owns or controls at least 25
         percent of the total combined voting power of all classes of stock or
         other interests.

         "Grant Price" means the exercise price stated in the Agreement which
         shall be the closing price of the Ordinary Shares of Royal Dutch on the
         New York Stock Exchange on the date on which the Options are granted,
         as reported by such source as the Company may determine.

         "Indemnitee" means an individual who, while an employee or director of
         any of the Companies and acting with respect to the Plan, acts as a
         fiduciary, agent, director of the Company, or in any other capacity
         exercises administrative responsibility with respect to the Plan.

         "Retire" or "Retirement" means termination of employment with all
         Companies after accumulation of 80 Points or 70 Points, assuming
         application of the 80-Point or 70-Point Eligibility Rules or the
         attainment of other criteria for retirement under the Shell Pension
         Plan, taking into account for these purposes all service taken into
         account for such purpose under the Shell Pension Plan.

         "Royal Dutch" means the Royal Dutch Petroleum Company, a company
         organized under the laws of the Kingdom of the Netherlands.

         "Royal Dutch/Shell Group of Companies" means the entities in which
         Royal Dutch or The "Shell" Transport and Trading Company, p.l.c.
         directly or indirectly own investments.

2002 RD Stock Option Plan for Solar                                            5
<PAGE>

         "Third Party Administrator" means the party designated by the Company
         to perform record keeping services and administer requests for the
         exercise of Options in accordance with Company guidelines and the Plan.

2.       GOVERNMENT AND OTHER RULES AND REGULATIONS. The obligation of the
         Company to issue Shares pursuant to the Options shall be subject to (a)
         compliance with all applicable laws, governmental rules and regulations
         and administrative action, including all applicable federal and state
         securities laws, and (b) any other rules and regulations of the Company
         as may then be in effect.

3.       UNFUNDED PLAN. This Plan shall be unfunded, and the Company shall not
         be required to segregate any assets which may at any time be
         represented by grants under the Plan. Any liability of the Company to
         any person with respect to a grant under this Plan shall be based
         solely upon any contractual obligations which may be created by this
         Plan; no such obligation of the Company shall be deemed to be secured
         by any pledge or other encumbrance on any property of the Company, or
         funded or secured in any way.

4.       TERMINATION AND AMENDMENT OF THE PLAN BY THE COMPANY. The Company may
         terminate or amend this Plan and the Agreements at any time in its sole
         discretion; provided, however, that all amendments to the Royal Dutch
         Stock Option Plan for Employees of Shell Companies in the US (the
         "Shell RD Plan") as may hereafter be adopted by Shell Oil Company are
         hereby determined to be in the best interests of the Company and shall
         forthwith be adopted by the Company and incorporated as part of this
         Plan, and that no amendment shall be made which is inconsistent with
         the provisions of the Shell RD Plan; and further provided that any
         Options then outstanding shall not be adversely affected thereby
         without the written consent and acquiescence of the respective
         Participants holding such Options. It is the intent of this Plan to
         provide benefits and rights that are equivalent to but not greater than
         the benefits and rights under the Shell RD Plan.

5.       INDEMNIFICATION. The Company shall indemnify each Indemnitee under the
         Plan to the fullest extent permitted under applicable laws, and under
         the by-laws of the Company, against all or any portion of liability,
         and/or costs and expenses reasonably incurred by such Indemnitee, in
         connection with, arising out of, or resulting from, any claim, suit or
         proceeding in which he/she may be involved by reason of having been an
         Indemnitee; provided however, the Company shall not be obligated to
         indemnify any Indemnitee against any liability, costs or expenses in
         connection with any act or omission to act in respect of which the
         Indemnitee shall be finally adjudged in any action, suit or proceeding
         to have been guilty of fraud or willful misconduct in the performance
         of his/her duties.

6.       OTHER PROVISIONS. The following provisions are also in effect under the
         Plan:

         (a)      no person shall have any claim or right to receive a grant
                  under the Plan, and no Participant shall have any right under
                  the Plan to be retained in the employ of any of the Companies;

         (b)      no Participant or any other holder of the Options shall have
                  any of the rights of a shareholder with respect to Shares
                  purchasable under the Options until

2002 RD Stock Option Plan for Solar                                            6
<PAGE>

                  such Shares have been issued or transferred to him/her upon
                  exercise of the Options;

         (c)      any termination of the Options shall be without prejudice to
                  any legal right or remedy which the Companies may have against
                  the Participant or any other person;

         (d)      the Plan and the Agreements thereunder shall inure to the
                  benefit of and be binding upon each successor and assign of
                  the Company;

         (e)      any taxes incurred as a result of the grant or exercise of
                  Options under the Plan shall be the responsibility of the
                  Participant and no tax assistance shall be provided by the
                  Companies;

         (f)      the Companies may withhold from cash payments, or any other
                  funds or property due or to become due to the Participant,
                  sufficient amount to satisfy all federal, state and local, or
                  other governmental tax withholding;

         (g)      the use of the singular may include the plural, and the plural
                  may include the singular, unless the context clearly indicates
                  to the contrary;

         (h)      any expenses of administering the Plan shall be borne by the
                  Companies;

         (i)      all matters relating to this Plan, the Agreements, or Options
                  granted hereunder shall be governed by the laws of the State
                  of Texas, without regard to the conflict of laws provisions
                  thereof;

         (j)      no payment under this Plan shall be taken into account in
                  determining benefits under any pension, retirement,
                  profit-sharing or welfare benefit plan of the Companies,
                  except as otherwise expressly provided under the terms of any
                  such plan; and

         (k)      in the event any provisions of this Plan shall be declared
                  illegal or invalid for any reason, the illegality or
                  invalidity shall not affect any other provisions hereof, but
                  shall be fully severable and this Plan shall be construed and
                  enforced as if the provision had not been included.

7.       EFFECTIVE DATE. The provisions of this Plan shall be effective as of
         August 1, 2002.

IN WITNESS WHEREOF, the duly authorized officer of the Company has executed this
Plan.

                                          SHELL SOLAR EMPLOYMENT SERVICES INC.

                                          C. A. Farris
                                          President and Chief Operating Officer

2002 RD Stock Option Plan for Solar                                            7

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