Document:

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                                                                    EXHIBIT 10.2

                            INDEMNIFICATION AGREEMENT

         AGREEMENT between Cooper Industries, Ltd., a Bermuda Company (the
"Company"), and __________________ (the "Indemnitee").

         WHEREAS, Cooper Industries, Inc. ("Cooper Ohio") has decided to
reorganize and effectively change its legal domicile from Ohio to Bermuda (the
"Reorganization");

         WHEREAS, the Reorganization was accomplished pursuant to, among other
things, the Merger Agreement, dated as of June 11, 2001 (the "Merger
Agreement"), among the Company, a newly formed Bermuda corporation that became
the publicly traded parent holding company for the reorganization ("Cooper
Bermuda"), Cooper Ohio and Cooper Mergerco, Inc. ("Merger Sub");

         WHEREAS, pursuant to the Merger Agreement (i) Merger Sub merged into
Cooper Ohio (the "Merger"), with Cooper Ohio being the surviving company in the
Merger and becoming a wholly-owned, indirect subsidiary of the Company, and (ii)
each outstanding share of Cooper Ohio common stock, par value $5.00 per share,
automatically became a Class A common share, par value U.S. $.01 per share of
the Company;

         WHEREAS, each of the directors of Cooper Ohio and substantially all of
the executive officers of Cooper Ohio became the directors and executive
officers of the Company;

         WHEREAS, it is essential to the Company to retain the current directors
and executive officers of Cooper Ohio who became the directors and executive
officers of Cooper Bermuda and to retain other key executives of Cooper Ohio and
its subsidiaries;

         WHEREAS, the Bye-laws of the Company provide that the indemnification
provided therein shall not be exclusive;

         WHEREAS, the Company wishes to provide the directors, executive
officers and other key executives of Cooper Ohio with substantially the same
indemnification such person currently has from Cooper Ohio;

         NOW, THEREFORE, in consideration of the premises and of Indemnitee
continuing to serve the Company directly or, at its request, with another
enterprise, and intending to be legally bound hereby, the parties hereto agree
as follows:

         1.  Certain Definitions:

         (a) Change in Control: shall be deemed to have occurred if (i) any
"person" (as such term is used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended), other than a trustee or other fiduciary
holding securities under an employee benefit plan of the Company or a
corporation owned directly or indirectly by the stockholders of the Company in
substantially the

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same proportions as their ownership of stock of the Company, is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under said Act), directly or
indirectly, of securities of the Company representing 15% or more of the total
voting power represented by the Company's then outstanding Voting Securities
without the prior approval of the Board of Directors, or (ii) during any period
of two consecutive years, individuals who at the beginning of such period
constitute the Board of Directors of the Company and any new director whose
election by the Board of Directors or nomination for election by the Company's
stockholders was approved by a vote of at least two-thirds (2/3) 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,
cease for any reason to constitute a majority thereof, or (iii) the stockholders
of the Company approve a merger or consolidation of the Company with any other
corporation, other than a merger or consolidation which would result in the
Voting Securities of the Company outstanding immediately prior thereto
continuing to represent (either by remaining outstanding or by being converted
into Voting Securities of the surviving entity) at least 80% of the total voting
power represented by the Voting Securities of the Company or such surviving
entity outstanding immediately after such merger or consolidation, or (iv) the
stockholders of the Company approve a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company of all or
substantially all the Company's assets. For purposes of determining whether
clause (ii) above has been complied with, the directors of Cooper Ohio on the
effective date of the Merger shall be included in the determination of who the
directors of Cooper Bermuda were during the relevant two year period until the
second anniversary of the effective date of the Merger.

         (b) Claim: any threatened, pending or completed action, suit or
proceeding, or any inquiry or investigation, whether conducted by the Company or
any other party, that Indemnitee in good faith believes might lead to the
institution of any such action, suit or proceeding, whether civil, criminal,
administrative, investigative or other.

         (c) Expenses: include attorneys' fees and all other costs, expenses and
obligations paid or incurred in connection with investigating, defending, being
a witness in or participating in (including on appeal) or preparing to defend,
be a witness in or participate in, any Claim relating to any Indemnifiable Event
(including all interest, assessments and other charges paid or payable in
connection with or in respect of any of the foregoing).

         (d) Judgments: include judgments, fines, penalties and amounts paid in
settlement that are paid or payable in connection with any Claim relating to any
Indemnifiable Event (including all interest, assessments and other charges paid
or payable in connection with or in respect of any of the foregoing).

         (e) Indemnifiable Event: any event or occurrence related to the fact
that Indemnitee is or was a director, officer or representative of the Company,
or is or was serving at the request of the Company in accordance with the
Company's "Code of Ethics and Business Conduct," as a director, trustee,
officer, employee, agent or representative of another corporation, domestic or
foreign, nonprofit or for profit, partnership, joint venture, employee benefit
plan, trust or other enterprise, or by reason of anything done or not done by
Indemnitee in any such capacity, except for any actions by

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Indemnitee determined by a court to constitute fraud or dishonesty in the
performance of his or her duties to the Company.

         (f) Reviewing Party: any appropriate person or body consisting of a
member or members of the Company's Board of Directors or any other person or
body appointed by the Board (including the special, independent counsel referred
to in Section 3) who is not a party to the particular Claim for which Indemnitee
is seeking indemnification.

         (g) Voting Securities: any securities of the Company that vote
generally in the election of directors, but does not include the Class B common
shares, par value U.S. $.01 per share, of the Company.

         2.  Scope of Indemnification

         (a) Indemnification of Judgments and Expenses. In the event Indemnitee
was, is or becomes a party to or witness or other participant in, or is
threatened to be made a party to or witness or other participant in, a Claim by
reason of (or arising in part out of) an Indemnifiable Event, the Company shall
indemnify Indemnitee to the fullest extent permitted by law against any and all
Expenses and Judgments arising from or relating to such Claim. Except as
otherwise provided in Section 2(b), such indemnification shall be made as soon
as practicable, but in any event not later than thirty (30) days, after written
demand therefor is presented to the Company by or on behalf of the Indemnitee.

         (b) Indemnification and Advance Payment of Expenses. Any and all
Expenses indemnifiable under Sections 2(a) and 2(c) shall be paid by the Company
promptly as they are incurred by Indemnitee (any such payment of expenses by the
Company is hereinafter referred to as an "Expense Advance"). Indemnitee shall be
obligated, and hereby agrees, to repay the amount of Expenses so paid only to
the extent that Indemnitee shall have been adjudged by the Supreme Court in
Bermuda or the court in which such action or suit was brought to be liable for
fraud or dishonesty in the performance of his or her duty to the Company.
Indemnitee hereby further agrees to reasonably cooperate with the Company
concerning any Claim.

         (c) Indemnification for Additional Expenses. The Company shall
indemnify Indemnitee to the fullest extent permitted by law against any and all
expenses (including attorneys' fees) that are incurred by Indemnitee in
connection with any claim asserted against or action brought by Indemnitee for
(i) indemnification of Expenses or Judgments or advance payment of Expenses by
the Company under this Agreement or under any other agreement, the Company's
Bye-laws, statute or rule of law now or hereafter in effect relating to Claims
for Indemnifiable Events and/or (ii) recovery under any directors' and officers'
liability insurance policy or policies maintained by the Company, regardless of
whether Indemnitee ultimately is determined to be entitled to such
indemnification, advance Expense payment or insurance recovery, as the case may
be.

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         (d) Partial Indemnity. If Indemnitee is entitled under any provision of
this Agreement to indemnification by the Company for some or a portion of the
Judgments and Expenses arising from or relating to a Claim but not, however, for
all of the total amount thereof, the Company shall nevertheless indemnify
Indemnitee for the portion thereof to which Indemnitee is entitled.

         (e) Indemnification of Successful Defense Expenses. Notwithstanding any
other provision of this Agreement, to the extent that Indemnitee has been
successful on the merits or otherwise in defense of any or all Claims relating
in whole or in part to an Indemnifiable Event or in defense of any issue or
matter therein, including dismissal without prejudice, Indemnitee shall be
indemnified against all Expenses incurred in connection therewith.

         3.  Reviewing Party Determinations.

         (a) General Rules. The Reviewing Party, in its discretion, may review
the rights of Indemnitee to indemnity payments under this Agreement.
Notwithstanding the provisions of Section 2, the obligations of the Company
under Section 2(a) shall be subject to the condition that the Reviewing Party
shall not have determined (in a written opinion, in any case in which the
special, independent counsel referred to in Section 4 hereof is involved) that
Indemnitee would not be permitted to be indemnified under applicable law;
provided, however, that if Indemnitee has commenced, or thereafter commences,
legal proceedings in a court of competent jurisdiction to secure a determination
that Indemnitee should be indemnified under applicable law, any determination
made by the Reviewing Party that Indemnitee would not be permitted to be
indemnified under applicable law shall not be binding until a final judicial
determination is made with respect thereto (as to which all rights of appeal
therefrom have been exhausted or lapsed) and any such determination by the
Reviewing Party shall be modified, to the extent necessary, to conform to such
final judicial determination.

         (b) Selection of Reviewing Party. If there has not been a Change in
Control, the Reviewing Party shall be selected by the Board of Directors as soon
as practicable after notice of a claim for indemnification. If there has been
such a Change in Control, the Reviewing Party shall be the special, independent
counsel referred to in Section 4 hereof.

         (c) Judicial Review. If there has been no determination by the
Reviewing Party or if the Reviewing Party determines that Indemnitee
substantially would not be permitted to be indemnified in whole or in part under
applicable law, Indemnitee shall have the right to commence litigation in any
court having subject matter jurisdiction thereof seeking an initial
determination by the court or challenging any such determination by the
Reviewing Party or any aspect thereof, and the Company hereby consents to
service of process and to appear in any such proceeding. Any determination by
the Reviewing Party otherwise shall be conclusive and binding on the Company and
Indemnitee.

         (d) Burden of Proof. In connection with any determination by the
Reviewing Party pursuant to Section 3(a), or by a court of competent
jurisdiction pursuant to Section 3(c) or otherwise, as to whether Indemnitee is
entitled to be indemnified hereunder, the burden of proof shall be on the
Company to establish by clear and convincing evidence that Indemnitee is not so
entitled.

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         4. Change in Control. The Company agrees that if there is a Change in
Control of the Company then with respect to all matters thereafter arising
concerning the rights of Indemnitee to indemnity payments under this Agreement
or under any other agreement, the Company's Bye-laws, statute or rule of law now
or hereafter in effect relating to Claims for Indemnifiable Events, the Company
shall seek legal advice only from special, independent counsel selected by
Indemnitee and approved by the Company (which approval shall not be unreasonably
withheld), and who has not otherwise performed services for the Company or
Indemnitee within the last five years (other than in connection with such
matters). Such counsel, among other things, shall render its written opinion to
the Company and Indemnitee as to whether and to what extent the Indemnitee would
be permitted to be indemnified under applicable law. The Company agrees to pay
the reasonable fees of the special, independent counsel referred to above and to
indemnify fully such counsel against any and all expenses (including attorneys'
fees), claims, liabilities and damages arising out of or relating to this
Agreement or its engagement pursuant hereto.

         5. No Presumption. For purposes of this Agreement, the termination of
any claim, action, suit or proceeding, by judgment, order, settlement (whether
with or without court approval) or conviction, or upon a plea of nolo
contendere, or its equivalent, shall not create a presumption that Indemnitee
failed to meet any particular standard of conduct or have any particular belief
or that a court has determined that indemnification is not permitted by
applicable law. In addition, neither the failure of the Reviewing Party to have
made a determination as to whether Indemnitee has met any particular standard of
conduct or had any particular belief, nor an actual determination by the
Reviewing Party that Indemnitee has not met such standard of conduct or did not
have such belief, prior to the commencement of legal proceedings by Indemnitee
to secure a judicial determination that Indemnitee should be indemnified under
applicable law shall be a defense to Indemnitee's claim or create a presumption
that Indemnitee has not met any particular standard of conduct or did not have
any particular belief.

         6. Non-exclusivity. The rights of the Indemnitee hereunder shall be in
addition to any other rights Indemnitee may now or hereafter have to
indemnification by the Company. More specifically, the Parties intend that
Indemnitee shall be entitled to indemnification to the maximum extent permitted
by any or all of the following:

                  (a) The fullest benefits provided by the Company's Bye-laws in
         effect on the date hereof, a copy of the relevant portions of which are
         attached hereto as Exhibit II;

                  (b) The fullest benefits provided by the Bye-laws or their
         equivalent of the Company in effect at the time the Indemnifiable Event
         occurs or at the time Expenses are incurred by Indemnitee;

                  (c) The fullest benefits allowable under Bermuda law in effect
         at the date hereof or as the same may be amended to the extent that
         such benefits are increased thereby;

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               (d) The fullest benefits allowable under the law of the
         jurisdiction under which the Company exists at the time the
         Indemnifiable Event occurs or at the time Expenses are incurred by the
         Indemnitee; and

               (e) Such other benefits as are or may be otherwise available to
         Indemnitee pursuant to this Agreement, any other agreement or
         otherwise.

         The parties intend that a combination of two or more of the benefits
referred to in (a) through (e) shall be available to Indemnitee to the extent
that the document or law providing for such benefits does not require that the
benefits provided therein be exclusive of other benefits. The Company hereby
undertakes to use its best efforts to assist Indemnitee, in all proper and legal
ways, to obtain all such benefits to which Indemnitee is entitled.

         7. Liability Insurance. The rights of the Indemnitee hereunder shall
also be in addition to any other rights Indemnitee may now or hereafter have
under policies of insurance maintained by the Company or otherwise. To the
extent the Company maintains an insurance policy or policies providing
directors' and officers' liability insurance, Indemnitee shall be covered by
such policy or policies, in accordance with its or their terms, to the maximum
extent of the coverage available for any Company director, officer or
representative. The parties hereby acknowledge that the Company presently
maintains an aggregate of $100 million of directors' and officers' liability
insurance.

         The Company shall maintain insurance coverage in the amount of the
present policy limits and with the present scope of coverage for so long as
Indemnitee's services are covered hereunder, provided and to the extent that
such insurance is available on a basis acceptable to the Company. In the event
that such insurance becomes unavailable in the amount of the present policy
limits or in the present scope of coverage at premium costs and on other terms
acceptable to the Company, then the Company may forego maintenance of all or a
portion of such insurance coverage. However, in the event of any reduction in
(or cancellation of) such insurance coverage (whether voluntary or involuntary),
the Company shall, and hereby agrees to, stand as a self-insurer with respect to
the coverage, or portion thereof, not retained, and shall indemnify the
Indemnitee against any loss arising out of the reduction in or cancellation of
such insurance coverage.

         8. Escrow Fund. As collateral security for its obligations hereunder
(including specifically its indemnity obligations (other than Judgments) and
other obligations pursuant to Sections 2, 6 and 7) and under similar agreements
with other directors, officers and representatives, in the event of a Change in
Control, the Company shall dedicate and maintain, for a period of five years
following the Change of Control, an escrow account in the aggregate of TEN
MILLION DOLLARS ($10,000,000) by depositing assets or bank letters of credit in
escrow or reserving lines of credit that may be drawn down by an escrow agent in
said amount (the "Escrow Reserve"). The Company shall promptly following
establishment of the Escrow Reserve provide Indemnitee with a true and complete
copy of the agreement relating to the establishment and operation of the Escrow
Reserve, together with such additional documentation or information with respect
to the Escrow Reserve as Indemnitee may from time to time reasonably request.
The Company shall promptly following establishment of the Escrow Reserve deliver
an executed copy of this Agreement to the

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escrow agent for the Escrow Reserve to evidence to that agent that Indemnitee is
a beneficiary of that Escrow Reserve and shall deliver to Indemnitee the escrow
agent's signed receipt evidencing that delivery.

         9. Period of Limitations. No legal action shall be brought and no cause
of action shall be asserted by or on behalf of the Company or any affiliate of
the Company against Indemnitee, Indemnitee's spouse, heirs, executors or
personal or legal representatives after the expiration of two years from the
date of accrual of such cause of action, and any claim or cause of action of the
Company or its affiliate shall be extinguished and deemed released unless
asserted by the timely filing of legal action within such two-year period;
provided, however, that if any shorter period of limitations is otherwise
applicable to any such cause of action such shorter period shall govern.

         10. Amendments, Etc. No supplement, modification or amendment of this
Agreement shall be binding unless executed in writing by both of the parties
hereto. No waiver of any of the provisions of this Agreement shall be deemed or
shall constitute a waiver of any other provisions thereof (whether or not
similar) nor shall such waiver constitute a continuing waiver.

         11. Subrogation. In the event of payment under this Agreement, the
Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and shall do
everything that may be necessary to secure such rights, including the execution
of such documents necessary to enable the Company effectively to bring suit to
enforce such rights.

         12. No Duplication of Payments. The Company shall not be liable under
this Agreement to make any payment in connection with any Claim made against
Indemnitee to the extent Indemnitee has otherwise actually received payment
(under any insurance policy, article or otherwise) of the amounts otherwise
indemnifiable hereunder.

         13. Binding Effect, Etc. This Agreement shall be binding upon and inure
to the benefit of and be enforceable by the parties hereto and their respective
successors, assigns, including any direct or indirect successor by purchase,
merger, consolidation or otherwise to all or substantially all of the business
and/or assets of the Company, spouses, heirs, and personal and legal
representatives. This Agreement shall continue in effect regardless of whether
Indemnitee continues to serve as a director, officer or representative of the
Company or of any other enterprise at the Company's request.

         14. Severability. The provisions of this Agreement shall be severable
in the event that any of the provisions hereof (including any provision within a
single section, paragraph or sentence) are held by a court of competent
jurisdiction to be invalid, void or otherwise unenforceable, and the remaining
provisions shall remain enforceable to the fullest extent permitted by law.

         15. Termination of Cooper Ohio Indemnification Agreement. As of the
effective date of this Agreement, Indemnitee and the Company agree that the
Indemnification Agreement between Indeminitee and Cooper Ohio is terminated and
replaced with this Agreement.

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         16. Governing Law. This Agreement shall be governed by and construed
and enforced in accordance with the laws of Bermuda applicable to contracts made
and to be performed in Bermuda without giving effect to the principles of
conflicts of laws. For purposes of this Agreement, the Company submits to the
non-exclusive jurisdiction of state and federal courts sitting in the city of
Houston, Texas.

         Executed and effective as of this __________ day of
___________________, 2002.

                                       COOPER INDUSTRIES, LTD.

                                       By:
                                          --------------------------------------
                                          Name:  H. John Riley, Jr.
                                          Title: Chairman, President and Chief
                                                 Executive Officer

                                       INDEMNITEE:

                                       By:
                                          --------------------------------------
                                          Name:
                                          Title:

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NATIONAL-OILWELL, INC. FORM 10-Q FILED NOVEMBER 12, 2002

                                                                   EXHIBIT 10.1

                             NATIONAL-OILWELL, INC.
                              AMENDED AND RESTATED
                    STOCK AWARD AND LONG-TERM INCENTIVE PLAN

        [REFLECTING THE FIRST, SECOND, AND THIRD AMENDMENTS TO THE PLAN]

                                  I.  PURPOSE

         The purpose of the National-Oilwell, Inc. (formerly NOW Holdings, Inc.)
Stock Award and Long-Term Incentive Plan (the "Plan") is to provide a means
whereby National-Oilwell, Inc. (formerly NOW Holdings, Inc.) a Delaware
corporation (the "Company"), and its Subsidiaries may attract able persons to
enter the employ of the Company in key positions and to provide a means whereby
those key employees upon whom the responsibilities of the successful
administration and management of the Company rest, and whose present and
potential contributions to the welfare of the Company are of importance, can
acquire and maintain stock ownership, thereby strengthening their concern for
the long-term welfare of the Company and their desire to remain in its employ. A
further purpose of the Plan is to provide such key employees with additional
incentive and reward opportunities designed to enhance the profitable growth of
the Company over the long term. Accordingly, the Plan provides for granting
Incentive Stock Options, options which do not constitute Incentive Stock
Options, Stock Appreciation Rights Restricted Stock Awards, Performance Share
Awards, Stock Value Equivalent Awards, or any combination of the foregoing, as
is best suited to the circumstances of the particular employee as provided
herein

                                II. DEFINITIONS

         The following definitions shall be applicable throughout the Plan
unless specifically modified by any paragraph:

         (a)      "AWARD" means, individually or collectively, any Option, Stock
Appreciation Right, Restricted Stock Award, Performance Share Award or Stock
Value Equivalent Award.

         (b)      "BOARD" means the Board of Directors of National-Oilwell, Inc.

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         (c)      "CODE" means the Internal Revenue Code of 1986, as amended.
Reference in the Plan to any section of the Code shall be deemed to include any
amendments or successor provisions to such section and any regulations under
such section.

         (d)      "COMMITTEE" means the committee selected by the Board to
administer the Plan in accordance with Paragraph (a) of Article IV of the Plan.

         (e)      "COMMON STOCK" means the common stock, par value $0.01 per
share, of National-Oilwell, Inc.

         (f)      "COMPANY" means National-Oilwell, Inc.

         (g)      "FAIR MARKET VALUE" means the last reported sale price on the
New York Stock Exchange or such other national securities exchange (or the
Nasdaq National Market) which constitutes the principal trading market for the
Common Stock, on the relevant date or, if there were no trades on that date the
latest preceding date upon which a sale was reported.

         (h)      "FINAL STOCK AWARD" means an award granted under Article XII
of the Plan.

         (i)      "HOLDER" means an employee or consultant of the Company, a
Parent Corporation or a Subsidiary (or his guardian or legal representative)
who has been granted an Award.

         (j)      "INCENTIVE STOCK OPTION" means an option within the meaning of
section 422 of the Code to purchase Common Stock.

         (k)      "NONQUALIFIED OPTION" means an option to purchase Common Stock
which is not an Incentive Stock Option.

         (l)      "OPTION" means an Award granted under Article VII of the Plan
and includes both Incentive Stock Options and Nonqualified Options.

         (m)      "OPTION AGREEMENT" means a written agreement between the
Company and an employee with respect to an Option.

         (n)      "OPTIONEE" means a consultant or an employee who has been
granted an Option.

         (o)      "PARENT CORPORATION" shall have the meaning set forth in
section 424(e) of the Code.

         (p)      "PERFORMANCE SHARE AWARD" means an Award granted under
Article X of the Plan.

         (q)      "PLAN" means the National-Oilwell, Inc. Stock Award and
Long-Term Incentive Plan, as amended and restated.

         (r)      "RESTRICTED STOCK AWARD" means an Award granted under
Article IX of the Plan.

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         (s)      "SPREAD" means, in the case of a Stock Appreciation Right, an
amount equal to the excess, if any, of the Fair Market Value of a share of
Common Stock on the date such right is exercised over the exercise price of
such Stock Appreciation Right.

         (t)      "STOCK APPRECIATION RIGHT" means an Award granted under
Article VIII of the Plan.

         (u)      "STOCK APPRECIATION RIGHTS AGREEMENT" means a written
agreement between the Company and an employee with respect to an Award of
Stock Appreciation Rights.

         (v)      "STOCK VALUE EQUIVALENT AWARD" means an Award granted under
Article XI of the Plan.

         (w)      "SUBSIDIARY" means a company (whether a corporation,
partnership,joint venture or other form of entity) in which the Company, or a
corporation in which the Company owns a majority of the shares of capital stock
or equity interests, directly or indirectly, except that with respect to the
issuance of Incentive Stock Options the term "Subsidiary" shall have the same
meaning as the term "subsidiary corporation" as defined in section 424(f)
of the Code.

                  III. EFFECTIVE DATE AND DURATION OF THE PLAN

         The Plan shall be effective upon the date of its adoption by the Board,
provided the Plan is approved by the stockholders of the Company within twelve
months thereafter. Notwithstanding any provision of the Plan or in any Option
Agreement or Stock Appreciation Rights Agreement, no Option or Stock
Appreciation Right shall be exercisable prior to such stockholder approval. No
further Awards may be granted under the Plan after ten years from the date the
Plan is adopted by the Board. Subject to the provisions of Article XIII, the
Plan shall remain in effect until all Options and Stock Appreciation Rights
granted under the Plan have been exercised or expired by reason of lapse of
time, all restrictions imposed upon Restricted Stock Awards have lapsed and all
Performance Share Awards and Stock Value Equivalent Awards have been satisfied.

                               IV. ADMINISTRATION

         (a)      COMPOSITION OF COMMITTEE. The Plan shall be administered and
interpreted by the Committee. The Committee shall consist of two or more
persons appointed by the Board, all of whom shall be "outside directors" as
defined under section 162(m) of the Code and related Treasury regulations.

         (b)      POWERS. The Committee shall have sole authority, in its
discretion, to determine which employees or consultants of the Company and its
Subsidiaries shall receive an Award, the time or times when such Award shall be
made and the duration of any applicable exercise or restriction period,
including the criteria for exercisability and the acceleration of
exercisability, whether an Incentive Stock Option, Nonqualified Option or Stock
Appreciation Right shall be granted, the number of shares of Common Stock which
may be issued under each Option, Stock Appreciation Right and Restricted Stock
Award, and the value of each Performance Share Award and Stock Value Equivalent
Award. In making such determinations the Committee may take into

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account the nature of the services rendered by the respective employees, their
present and potential contribution to the Company's success and such other
factors as the Committee in its discretion shall deem relevant.

         (c)      ADDITIONAL POWERS. The Committee shall have such additional
powers as are delegated to it by the other provisions of the Plan. Subject to
the express provisions of the Plan, the Committee is authorized to construe the
Plan and the respective agreements executed thereunder, to prescribe such rules
and regulations relating to the Plan as it may deem advisable to carry out the
Plan, and to determine the terms, restrictions and provisions of each Award,
including such terms, restrictions and provisions as shall be requisite in the
judgment of the Committee to cause designated Options to quality as Incentive
Stock Options, and to make all other determinations necessary or advisable for
administering the Plan. The Committee may correct any defect or supply any
omission or reconcile any inconsistency in any agreement relating to an Award
in the manner and to the extent it shall deem expedient to carry it into
effect. The determinations of the Committee on the matters referred to in this
Article IV shall be final and binding for all purposes and upon all interested
persons and their heirs, successors and personal representatives.

           V. GRANT OF OPTIONS, STOCK APPRECIATION RIGHTS,
              RESTRICTED STOCK AWARDS, PERFORMANCE SHARE
              AWARDS AND STOCK VALUE EQUIVALENT AWARDS;
                      SHARES SUBJECT TO THE PLAN

         (a)      AWARD LIMITS. The Committee may from time to time grant
Awards to one or more employees or consultants determined by it to be eligible
for participation in the Plan in accordance with the provisions of Article VI.
The aggregate number of shares of Common Stock that may be issued under the Plan
shall not exceed 10,282,606 shares. During the term of the Plan, the maximum
aggregate number of shares of Common Stock that shall be subject to Awards under
the Plan to any individual shall not exceed one-half of the aggregate limitation
for the Plan specified in the preceding sentence. Any of such shares which
remain unissued and which are not subject to outstanding Awards at the
termination of the Plan shall cease to be subject to the Plan, but, until
termination of the Plan, the Company shall at all times reserve a sufficient
number of shares to meet the requirements of the Plan. Shares shall be deemed to
have been issued under the Plan only to the extent actually issued and delivered
pursuant to an Award. To the extent that an Award lapses or the rights of its
Holder terminate any shares of Common Stock subject to such Award shall again be
available for the grant of an Award. The aggregate number of shares which may be
issued under the Plan shall be subject to adjustment in the same manner as
provided in Article XIII with respect to shares of Common Stock subject to
Options then outstanding. Separate stock certificates shall be issued by the
Company for those shares acquired pursuant to the exercise of an Incentive Stock
Option and for those shares acquired pursuant to the exercise of a Nonqualified
Option.

         (b)      STOCK OFFERED.  The stock to be offered pursuant to the grant
of an Award may be authorized but unissued Common Stock or Common Stock
previously issued and outstanding and, reacquired by the Company.

                                 VI. ELIGIBILITY

                                       23
<PAGE>
         Awards made pursuant to the Plan may be granted only to individuals
who, at the time of grant, are key employees or directors of the Company or any
Parent Corporation or Subsidiary of the Company. Awards may not be granted to
any director of the Company who is not an employee of the Company or to any
member of the Committee provided, however, that effective August 28, 1996,
Awards, other than Incentive Stock Options, may be granted to directors who are
not employees of the Company. Awards, other than Incentive Stock Options, may
also be granted to consultants who are not employees of the Company. An Award
made pursuant to the Plan may be granted on more than one occasion to the same
person, and such Award may include an Incentive Stock Option, a Nonqualified
Option, an Award of Stock Appreciation Rights, a Restricted Stock Award, a
Performance Share Award, a Stock Value Equivalent Award or any combination
thereof. Each Award shall be evidenced by a written instrument duly executed by
or on behalf of the Company.

                                  VII. OPTIONS

         (a)      OPTION AGREEMENT. Each Option shall be evidenced by an Option
Agreement between the Company and the Optionee which shall contain such terms
and conditions as may be approved by the Committee. The terms and conditions of
the respective Option Agreements need not be identical. Specifically, an Option
Agreement may provide for the payment of the option price, in whole or in part,
by the delivery of a number of shares of Common Stock (plus cash if necessary)
having a Fair Market Value equal to such option price or payment through a
broker in accordance with procedures permitted by Regulation T of the Federal
Reserve Board. Each Option Agreement shall provide that the Option may not be
exercised earlier than six months from the date of grant and shall specify the
effect of termination of employment on the exercisability of the Option.

         (b)      OPTION PERIOD.  The term of each Option shall be as
specified by the Committee at the date of grant provided, however, that the
term of any Incentive Stock Option shall not exceed ten years.

         (c)      LIMITATIONS ON EXERCISE OF OPTION. An Option shall be
exercisable in whole or in such installments and at such times as determined by
the Committee.

         (d)      SPECIAL LIMITATIONS ON INCENTIVE STOCK OPTIONS. To the extent
that the aggregate Fair Market Value (determined at the time the respective
Incentive Stock Option is granted) of Common Stock with respect to which
Incentive Stock Options are exercisable for the first time by an individual
during any calendar year under all incentive stock option plans of the Company
and its Parent Corporation and Subsidiaries exceeds $100,000, such excess
Incentive Stock Options shall be treated as Nonqualified Options. The Committee
shall determine, in accordance with applicable provisions of the Code, Treasury
Regulations and other administrative pronouncements, which of an Optionee's
Incentive Stock Option will not constitute Incentive Stock Options because of
such limitation and shall notify the Optionee of such determination as soon as
practicable after such determination. No Incentive Stock Option shall be
granted to an individual if, at the time the Option is granted, such individual
owns stock possessing more than 10% of the total combined voting power of all
classes of stock of the Company or of its Parent Corporation or a Subsidiary,
within the meaning of section 422(b)(6) of the Code, unless (1) at the time
such Option is granted the option price is at least 110% of the Fair Market
Value of the Common Stock subject to the

                                       24
<PAGE>
Option and (ii) such Option by its terms is not exercisable after the
expiration of five years from the date of grant.

         (e)      OPTION PRICE. The purchase price of Common Stock issued under
each Option shall be determined by the Committee, but such purchase price shall
not be less than the Fair Market Value of Common Stock subject to the Option on
the date the Option is granted.

         (f)      OPTIONS AND RIGHTS IN SUBSTITUTION FOR STOCK OPTIONS GRANTED
BY OTHER CORPORATIONS. Options and Stock Appreciation Rights may be granted
under the Plan from time to time in substitution for stock options held by
employees of corporations who become, or who became prior to the effective date
of the Plan, key employees of the Company or of any Subsidiary as a result of a
merger or consolidation of the employing corporation with the Company or such
Subsidiary, or the acquisition by the Company or a Subsidiary of all or a
portion of the assets of the employing corporation, or the acquisition by the
Company or a Subsidiary of stock of the employing corporation with the result
that such employing corporation becomes a Subsidiary.

                        VIII. STOCK APPRECIATION RIGHTS

         (a)      STOCK APPRECIATION RIGHTS. A Stock Appreciation Right is the
right to receive an amount equal to the Spread with respect to a share of
Common Stock upon the exercise of such Stock Appreciation Right. Stock
Appreciation Rights may be granted in connection with the grant of an Option,
in which case the Option Agreement will provide that exercise of Stock
Appreciation Rights will result in the surrender of the right to purchase the
shares under the Option as to which the Stock Appreciation Rights were
exercised. Alternatively, Stock Appreciation Rights granted independently of
Options in which case each Award of Stock Appreciation Rights shall be
evidenced by a Stock Appreciation Rights Agreement between the Company and the
Holder which shall contain such terms and conditions as may be approved by the
Committee. The terms and conditions of the respective Stock Appreciation Rights
Agreements need not be identical. The Spread with respect to a Stock
Appreciation Right may be payable either in cash, shares of Common Stock with a
Fair Market Value equal to the Spread or in a combination of cash and shares of
Common Stock. Upon the exercise of any Stock Appreciation Rights granted
hereunder, the number of shares reserved for issuance under the Plan shall be
reduced only to the extent that shares of Common Stock are actually issued in
connection with the exercise of such Stock Appreciation Right. Each Stock
Appreciation Rights Agreement shall provide that the Stock Appreciation Rights
may not be exercised earlier than six months from the date of grant and shall
specify the effect of termination of employment on the exercisability of the
Stock Appreciation Rights.

         (b)      EXERCISE PRICE. The exercise price of each Stock
Appreciation Right shall be determined by the Committee, but such exercise
price shall not be less than the Fair Market Value of a share of Common Stock
on the date the Stock Appreciation Right is granted.

         (c)      EXERCISE PERIOD. The term of each Stock Appreciation Right
shall be as specified by the Committee at the date of grant.

                                       25
<PAGE>
         (d)      LIMITATIONS ON EXERCISE OF STOCK APPRECIATION RIGHT. A
Stock Appreciation Right shall be exercisable in whole or in such installments
and at such times as determined by the Committee.

                          IX. RESTRICTED STOCK AWARDS

         (a)      RESTRICTION PERIOD TO BE ESTABLISHED BY THE COMMITTEE. At the
time a Restricted Stock Award is made, the Committee shall establish a period
of time (the "Restriction Period") applicable to such Award. Each Restricted
Stock Award may have a different Restriction Period, as determined in the
discretion of the Committee. The Restriction Period applicable to a particular
Restricted Stock Award shall not be changed except as permitted by Paragraph
(b) of this Article.

         (b)      OTHER TERMS AND CONDITIONS. Common Stock awarded pursuant to
a Restricted Stock Award shall be represented by a stock certificate registered
in the name of the Holder of such Restricted Stock Award or, at the option of
the Company, in the name of a nominee of the Company. The Holder shall have the
right to receive dividends during the Restriction Period (subject to the terms
of any Restricted Stock Agreement), to vote the Common Stock subject thereto
and to enjoy all other stockholder rights (subject to the terms of any
Restricted Stock Agreement), except that unless otherwise specified in the
Restricted Stock Agreement (i) the Holder shall not be entitled to possession
of the stock certificate until the Restriction Period shall have expired, (ii)
at the discretion of the Company, the Company shall retain custody of the stock
during the Restriction Period, (iii) the Holder may not sell, transfer, pledge,
exchange, hypothecate or otherwise dispose of the stock during the Restriction
Period and (iv) a breach of the terms and conditions established by the
Committee pursuant to the Restricted Stock Award shall cause a forfeiture of
the Restricted Stock Award. At the time of such Award, the Committee may, in
its sole discretion, prescribe additional terms, conditions or restrictions
relating to Restricted Stock Awards, including, but not limited to, rules
pertaining to the termination of employment (by retirement, disability, death
or otherwise) of a Holder prior to expiration of the Restriction Period.

         (c)      PAYMENT FOR RESTRICTED STOCK. A Holder shall be required to
make such payment for Common Stock received pursuant to a Restricted Stock
Award as may be required by law or as the Committee may, in its discretion,
determine to charge the Holder.

         (d)      MISCELLANEOUS. Nothing in this Article shall prohibit the
exchange of shares issued under the Plan (whether or not then subject to a
Restricted Stock Award) pursuant to a plan of reorganization for stock or
securities in the Company or another corporation a party to the reorganization,
but the stock or securities so received for shares then subject to the
restrictions of a Restricted Stock Award shall become subject to the
restrictions of such Restricted Stock Award. Any shares of stock received as a
result of a stock split or stock dividend with respect to shares then subject
to a Restricted Stock Award shall also become subject to the restrictions of
the Restricted Stock Award.

                          X. PERFORMANCE SHARE AWARDS

         (a)      PERFORMANCE PERIOD. The Committee shall establish, with
respect to and at the time of each Performance Share Award, a performance
period over which the performance applicable to the Performance Share Award of
the Holder shall be measured.

                                       26
<PAGE>
         (b)      PERFORMANCE SHARE AWARDS. Each Performance Share Award may
have a maximum value established by the Committee at the time of such Award.

         (c)      PERFORMANCE MEASURES. A Performance Share Award may be
awarded to an employee contingent upon future performance of the employee, the
Company or any Subsidiary, division or department thereof by in which he is
employed during the performance period, the Fair Market Value of Common Stock or
the increase thereof during the performance period, combinations thereof, or
such other provisions as the Committee may determine to be appropriate. The
Committee shall establish the performance measures applicable to such
performance prior to the beginning of the performance period but subject to such
later revisions as the Committee shall deem appropriate to reflect significant,
unforeseen events or changes.

         (d)      AWARDS CRITERIA. In determining the value of Performance Share
Awards, the Committee may take into account an employee's responsibility level,
performance, potential, other Awards and such other considerations as it deems
appropriate.

         (e)      PAYMENT. Following the end of the performance period, the
Holder of a Performance Share Award shall be entitled to receive payment of an
amount, not exceeding the maximum value of the Performance Share Award, if any,
based on the achievement of the performance measures for such performance
period, as determined by the Committee in its sole discretion. Payment of a
Performance Share Award (i) may be made in cash, Common Stock or a combination
thereof, as determined by the Committee in its sole discretion, (ii) shall be
made in a lump sum or in installments as prescribed by the Committee in its
sole discretion and (iii) to the extent applicable, shall be based on the Fair
Market Value of the Common Stock on the payment date. If a payment of cash is
to be made on a deferred basis, the Committee shall establish whether interest
shall be credited, the rate thereof and any other terms and conditions
applicable thereto.

         (f)      TERMINATION OF EMPLOYMENT. The Committee shall determine the
effect of termination of employment during the performance period on an
employee's Performance Share Award.

                       XI. STOCK VALUE EQUIVALENT AWARDS

         (a)      STOCK VALUE EQUIVALENT AWARDS. Stock Value Equivalent Awards
are rights to receive an amount equal to the Fair Market Value of shares of
Common Stock or rights to receive an amount equal to any appreciation or
increase in the Fair Market Value of Common Stock over a specified period of
time, which vest over a period of time as established by the Committee, without
payment of any amounts by the Holder thereof (except to the extent otherwise
required by law) or satisfaction of any performance criteria or objectives.
Each Stock Value Equivalent Award may have a maximum value established by the
Committee at the time of such Award.

         (b)      AWARD PERIOD. The Committee shall establish, with respect to
and at the time of each Stock Value Equivalent Award, a period over which the
Award shall vest with respect to the Holder.

                                       27
<PAGE>
         (c)      AWARDS CRITERIA. In determining the value of Stock Value
Equivalent Awards, the Committee may take into account an employee's
responsibility level, performance, potential, other Awards and such other
considerations as it deems appropriate.

         (d)      PAYMENT. Following the end of the determined period for a
Stock Value Equivalent Award, the Holder of a Stock Value Equivalent Award
shall be entitled to receive payment of an amount, not exceeding the maximum
value of the Stock Value Equivalent Award, if any, based on the then vested
value of the Award. Payment of a Stock Value Equivalent Award (i) shall be made
in cash, (ii) shall be made in a lump sum or in installments as prescribed by
the Committee in its sole discretion and (iii) shall be based on the Fair
Market Value of the Common Stock on the payment date. Cash dividend equivalents
may be paid during, or may be accumulated and paid at the end of, the
determined period with respect to a Stock Value Equivalent Award, as determined
by the Committee. If payment of cash is to be made on a deferred basis, the
Committee shall establish whether interest shall be credited, the rate thereof
and any other terms and conditions applicable thereto.

         (e)      TERMINATION OF EMPLOYMENT. The Committee shall determine the
effect of termination of employment during the applicable vesting period on an
employee's Stock Value Equivalent Award.

                            XII. FINAL STOCK AWARDS

         (a)      NATURE OF FINAL STOCK AWARDS. Final Stock Awards constitute
the issuance as of January 17, 2001 to certain Holders of Restricted Stock
Awards of one or more shares of Common Stock free and clear of any and all
forfeiture restrictions or other encumbrances.

         (b)      AUTOMATIC GRANT OF FINAL STOCK AWARDS. As of January 17, 2001,
there shall be granted Final Stock Awards for a number of shares of Common Stock
equal to the difference as of January 17, 2001 between 941,303 shares of Common
Stock and the number of shares of Common Stock issued pursuant to Restricted
Stock Awards granted under the Plan which have not been forfeited to the
Company. Such shares of Common Stock shall be allocated to those individuals who
(i) are employed by the Company or a Parent Corporation or a Subsidiary of the
Company as of January 17, 2001 and (ii) who at any time were Holders of
Restricted Stock Awards. An individual entitled to an allocation of a Final
Stock Award pursuant to the preceding sentence shall receive a Final Stock Award
for a number of shares of Common Stock equal to the total number of shares of
Common Stock as to which Final Stock Awards are then being granted multiplied by
a fraction, the numerator of which is the number of shares of Common Stock
theretofore issued to him pursuant to his Restricted Stock Awards as to which
forfeiture restrictions have lapsed and the denominator of which is the total
number of shares of Common Stock theretofore issued pursuant to Restricted Stock
Awards as to which forfeiture restrictions have lapsed to all individuals
entitled to allocations of Final Stock Awards pursuant to the preceding
sentence.

                    XIII. RECAPITALIZATION OR REORGANIZATION

         (a)      Except as hereinafter otherwise provided, Options, Stock
Appreciation Rights, Restricted Stock Awards, Performance Share Awards, Stock
Value Equivalent Awards and any agreements evidencing such Awards shall be
subject to adjustment by the Committee at its

                                       28
<PAGE>
discretion as to the number and price of shares of Common Stock or other
consideration subject to such Awards in the event of changes in the
outstanding, Common Stock by reason of dividends payable in stock of the
Company, stock splits, recapitalization, reorganizations, mergers,
consolidations, combinations, exchanges or other relevant changes in
capitalization occurring after the date of the grant of any such Option or
Awards.

         (b)      The existence of the Plan and the Awards granted hereunder
shall not affect in any way the right or power of the Board or the stockholders
of the Company to make or authorize any adjustment recapitalization,
reorganization or other change in the Company's capital structure or its
business, any merger or consolidation of the Company, any issue of debt or
equity securities having any priority or preference with respect to or
affecting Common Stock or the rights thereof, the dissolution or liquidation of
the Company or any sale, lease, exchange or other disposition of all or any
part of its assets or business or any other corporate act or proceeding.

         (c)      The shares with respect to which Awards may be granted are
shares of Common Stock as presently constituted, but if, and whenever, prior to
the expiration of an Option theretofore granted, the Company shall effect a
subdivision or consolidation of shares of Common Stock or the payment of a
stock dividend on Common Stock payable in stock of the Company, without receipt
of consideration by the Company, the number of shares of Common Stock with
respect to which such Award may thereafter pertain (i) in the event of an
increase in the number of outstanding shares shall be proportionately
increased, and the purchase price per share shall be proportionately reduced,
and (ii) in the event of a reduction in the number of outstanding shares shall
be proportionately reduced, and the purchase price per share shall be
proportionately increased.

         (d)      If the Company recapitalizes or otherwise changes its capital
structure, an Award theretofore granted shall be adjusted to reflect such
recapitalization to the extent appropriate as determined by the Committee.

                   XIV. AMENDMENT OR TERMINATION OF THE PLAN

         The Board in its discretion may terminate the Plan or alter or amend
the Plan or any part thereof from time to time; provided that no change in any
Award theretofore granted may be made which would impair the rights of the
Holder without the consent of the Holder, and provided, further, that the Board
may not, without approval of the stockholders amend the Plan:

(a) to increase the aggregate number of shares of Common Stock which may be
issued under the Plan, except as provided in Article XIII;

(b) to change the class of employees eligible to receive Incentive Stock
Options under the Plan; or

(c) to modify materially the requirements as to eligibility for participation
in the Plan if such approval is required by section 162(m) of the Code.

                                       29
<PAGE>
                                   XV. OTHER

         (a)      NO RIGHT TO AN AWARD. Neither the adoption of the Plan nor any
action of the Board or of the Committee shall be deemed to give an employee any
right to be granted an Option, a Stock Appreciation Right, a Restricted Stock
Award or a Performance Share Award or Stock Value Equivalent Award, Final Stock
Award or any other rights hereunder except as may be evidenced by an Option
Agreement, Stock Appreciation Rights Agreement Restricted Stock Agreement or
other instrument evidencing an Award duly executed on behalf of the Company, and
then only to the extent and on the terms and conditions expressly set forth
therein. The Plan shall be unfunded. The Company shall not be required to
establish any special or separate fund or to make any other segregation of funds
or assets to assure the payment of any Award.

         (b)      NO EMPLOYMENT RIGHTS CONFERRED. Nothing contained in the Plan
or in any Award made hereunder shall (i) confer upon any employee any right
with respect to continuation of employment with the Company or any Subsidiary
or (ii) interfere in any way with the right of the Company or any Subsidiary to
terminate his or her employment at any time.

         (c)      OTHER LAW; WITHHOLDING. The Company shall not be obligated to
issue any Common Stock pursuant to any Award granted under the Plan at any time
when the offering of the shares covered by such Award has not been registered
under the Securities Act of 1933 and such other state and federal laws, rules
or regulations as the Company or the Committee deems applicable and, in the
opinion of legal counsel for the Company, there is no exemption from the
registration requirements of such laws, rules or regulations available for the
issuance and sale of such shares. No fractional shares of Common Stock shall be
delivered, nor shall any cash in lieu of fractional shares be paid. The Company
shall have the right to deduct in connection with all Awards any taxes required
by law to be withheld and to require any payments necessary to enable it to
satisfy its withholding obligations. The Committee may permit the Holder of an
Award to elect to surrender, or authorize the Company to withhold, shares of
Common Stock (valued at their Fair Market Value on the date of surrender or
withholding of such shares) in satisfaction of the Company's withholding
obligation.

         (d)      NO RESTRICTION ON CORPORATE ACTION. Nothing contained in the
Plan shall be construed to prevent the Company or any Subsidiary from taking
any corporate action which is deemed by the Company or such Subsidiary to be
appropriate or in its best interest, whether or not such action would have an
adverse effect on the Plan or any Award made under the Plan. No employee,
beneficiary or other person shall have any claim against the Company or any
Subsidiary as a result of any such action.

         (e)      RESTRICTIONS ON TRANSFER. An Award shall not be transferable
otherwise than by will or the laws of descent and distribution and shall be
exercisable during the lifetime of the Holder only by such Holder or the
Holder's guardian or legal representative. The Option Agreement, Stock
Appreciation Rights Agreement, Restricted Stock Agreement or other written
instrument evidencing an Award shall specify the effect of the death of the
Holder on the Award.

         (f)      SEVERABILITY. If any provision of this Plan or an Award shall
be held illegal or invalid for any reason, said illegality or invalidity shall
not affect the remaining provisions thereof,

                                       30
<PAGE>
         instead, each provision of the Plan or an Award shall be fully
severable and shall be construed and enforced as if said illegal or invalid
provision had never been included therein.

         (g)      LIMITATION ON ACTIONS. Every right of action by or on behalf
of the Company or by any stockholder against any past, present, or future
member of the Board, the Committee, or any officer or employee of the Company
arising out of or in connection with this Plan shall, regardless of the place
where the action may be brought and regardless of the place of residence of any
such director, Committee member, officer or employee, cease and be barred by
the expiration of three years from the later of: (i) the date of the act or
omission in respect of which such right of action arises or (ii) the first date
upon which there has been made generally available to stockholders an annual
report of the Company and a proxy statement for the annual meeting of
stockholders following the issuance of such annual report, which annual report
and proxy statement alone or together set forth for the related period, the
amount of the allocations. In addition, any and all right of action by any
employee (past, present or future) against the Company or any member of the
Committee arising out of or in connection with this Plan will, regardless of
the place where action may be brought and regardless of the place of residence
of any Committee member, cease and be barred by the expiration of three years
from the date of the act or omission in respect of which such right of action
arises.

         (h)      GOVERNING LAW. This Plan shall be governed by, and construed
in accordance with, the internal laws of the State of Texas without regard to
the principles of conflicts of law thereof that would require the application
of the laws of any jurisdiction other than Texas, except to the extent that it
implicates matters which are the subject of the General Corporation Law of the
State of Delaware which matters shall be governed by the latter law.

         Executed as of the 15th day of May, 2002 to reflect the Third
Amendment to that Plan document which was theretofore adopted by and executed
on behalf of the Company.

ATTEST:

NATIONAL-OILWELL, INC.

/s/ M. Gay Mather                      /s/ Merrill A. Miller, Jr.
-----------------                      --------------------------
M. Gay Mather,                             Merrill A. Miller, Jr., President and
Secretary                                  Chief Executive Officer

                                       31

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