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                                                                   Exhibit 10.40

                            ---------------------
                                 RULES OF THE

                                VODAFONE GROUP

                             LONG TERM INCENTIVE

                                     PLAN

                            ---------------------

                              Adopted: July 1998
                              Amended: April 1999
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                                  RULES OF THE

                                 VODAFONE GROUP

                            LONG TERM INCENTIVE PLAN

1.   DEFINITIONS

     In these Rules

1.1  the following words and expressions have the following meanings:

"Announcement Date"           the date on which the Company announces to the
                              London Stock Exchange its final results for a
                              financial year;

"Associated                   Company" any company which is an associated
                              company of the Company within the meaning that the
                              expression bears in Section 416 of the Income and
                              Corporation Taxes Act 1988;

"Auditors"                    the auditors for the time being of the Company;

"Award"                       an award of Shares;

"Company"                     Vodafone Group Plc;

"Control"                     the meaning given to that expression in section
                              840 of the Income and Corporation Taxes Act 1988;

"Directors"                   the board of directors for the time being of the
                              Company or a duly authorised committee thereof
                              consisting wholly or mainly of non-executive
                              directors;

"Eligible                     Employee" any person employed by any Participating
                              Company on the date an Award is made, provided
                              that such person is not within two years of his
                              contractual retirement age;

"Employment"                  employment by the Company and/or any company under
                              the Control of the Company or Associated Company
                              and "ceasing to be in Employment" shall be
                              construed as ceasing to be employed by such
                              companies;

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"Group"                       the Company and all its Subsidiaries;

"London Stock Exchange"       the London Stock Exchange Limited;

"Participant"                 any person (including, where the context permits,
                              the legal personal representative of such person)
                              who has received an Award in accordance with the
                              provisions of Rule 2;

"Participating Company"       the Company and any Subsidiary which the Directors
                              have determined shall be participating company for
                              the purposes of the Plan;

"Performance Period"          such period as shall be determined by the Trustees
                              on the making of an Award, during which the
                              Trustees will not normally transfer any Shares
                              pursuant to an Award. The period will usually be
                              the three financial years starting with the
                              financial year during which the Award is made;

"Plan"                        this plan, being the Vodafone Group Long Term
                              Incentive Plan as constituted by the Rules and
                              approved by the Company in general meeting on 21
                              July 1998 and being an employees' share scheme
                              within the meaning of Section 743 of the Companies
                              Act 1985;

"Request                      Letter" any notification sent by the Directors to
                              the Trustees requesting the Trustees to exercise
                              their discretion to make an Award under Rule 2;

"Rules"                       these rules as amended from time to time;

"Share"                       a fully paid ordinary share in the capital of the
                              Company;

"Subsidiary"                  a subsidiary of the Company within the meaning of
                              Section 736 of the Companies Act 1985;

"Trustees"                    the trustees from time to time of the Vodafone
                              Group Employee Trust.

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       1.2    Where the context so admits

              1.2.1  words importing the singular shall include the plural and
                     vice versa and words importing the masculine shall include
                     the feminine; and

              1.2.2  any reference to a statute (on a particular Chapter, Part
                     of Section hereof) shall mean and include any statutory
                     modification or re-enactment thereof for the time being in
                     force and any regulations made thereunder.

2.     THE MAKING OF AWARDS

       2.1    During the six weeks following an Announcement Date and, subject
              to Rule 2.3, at other times under exceptional circumstances the
              Directors may recommend to the Trustees that they (the Trustees)
              make Awards to selected Eligible Employees. Such recommendation
              will be in the form of a Request Letter, which shall contain the
              following information:

              2.1.1  the full name and address of any Eligible Employee who the
                     Directors recommend for an Award;

              2.1.2  the number or value of Shares which the Directors recommend
                     should be the subject of any Award; and

              2.1.3  any performance conditions which the Directors consider
                     should be imposed on the grant of any Award and which must
                     be satisfied in order for the Award to vest.

       2.2    On receipt of any Request Letter the Trustees shall consider
              whether to make any Awards. The making of any Awards shall be at
              the Trustees' absolute discretion in respect of which Eligible
              Employees are made Awards, the level of such Awards and the
              imposition of any performance conditions. The Trustees, in
              consultation with the Directors, may waive or amend the
              performance conditions if an event happens which causes them to
              consider that the existing conditions could not fairly or
              reasonably be met.

       2.3    Directors shall not issue a Request Letter nor shall the Trustees
              make any Awards or transfer any Shares to Participants during any
              period when there is an embargo on dealing in Shares by virtue of
              the London Stock Exchange Model Code for Securities Transactions
              by Directors of Listed Companies or any code adopted by the
              Company based on the Model Code or of the provisions of any
              legislation for the time being in force.

       2.4    On the making of an Award the Trustees shall issue a notification
              showing the date the Award was made, the number or value of Shares
              comprised in it, the Performance Period and any performance
              conditions which must normally be satisfied before any transfer of
              Shares can occur.

       2.5    Consideration shall be payable by an Eligible Employee on the
              making of an Award.

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       2.6    Notwithstanding any provision of these Rules whatsoever:

              2.6.1  the Plan shall not form part of any contract of employment
                     between the Company or any Associated Company and any
                     Participant and it shall not confer on any Participant any
                     legal or equitable rights whatsoever against the Company,
                     an Associated Company or the Trustees directly or
                     indirectly or give rise to any cause of action at law or in
                     equity against the Company, any Associated Company or the
                     Trustees;

              2.6.2  any benefits received by Participants under the Plan shall
                     not count as pay or remuneration for pension or other
                     purposes;

              2.6.3  any Participant who ceases to be an employee of any Company
                     in the Group shall not be entitled to any compensation for
                     any loss of any right or benefit or prospective right or
                     benefit under the Plan which he might otherwise have
                     enjoyed whether such compensation is claimed by way of
                     damages for wrongful dismissal or other breach of contract
                     or by way of compensation for loss of office or otherwise
                     howsoever and notwithstanding that he may have been
                     dismissed wrongfully or unfairly (within the meaning of the
                     Employment Rights Act 1996).

       2.7    An Award shall be personal to the Participant and shall not be
              assignable and any purported assignment, transfer, charge,
              disposal or dealing with the Award shall render the Award void.

3.     LIMITATIONS

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

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

       3.3    The number of Shares which may be allocated under the Plan on any
              day will not exceed 5% of the ordinary share capital of the
              Company in issue immediately prior to that day, when added to the
              total number of Shares which have been allocated in the previous
              ten years under the Plan and any other executive share plan
              adopted by the Company.

       3.4    The number of Shares which may be allocated under the Plan on any
              day in the four years commencing on 21 July 1998 will not exceed
              2.5% of the ordinary share capital of the Company in issue
              immediately prior to that day when added to the total number of
              Shares which have been allocated under the Plan and any other
              executive share plan adopted by the Company.

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

       3.6    Allocate means in relation to any share option plan the placing of
              unissued Shares under option and in relation to other types of
              employee share plan the issue and allotment of Shares.

       3.7    The market value of the Shares comprised in any Award made to an
              Eligible Employee on the date the Award is made shall not exceed
              75 per cent of his gross basic salary at that date. Not more than
              one Award shall be made to each Eligible Employee in any financial
              year. Where an Award is made to an Eligible Employee at a time
              other than during the six weeks following an Announcement Date,
              the market value of the Shares comprised in the Award shall be
              reduced by one thirty-sixth for each complete month which has
              elapsed since such announcement.

       3.8    No Award may be made later than ten years after this Plan is
              approved by the Company in general meeting.

4.     VESTING AND FORFEITURE OF AWARDS

       4.1    Provided that a Participant remains in Employment, the Trustees
              shall transfer to him such of the Shares comprised in his Award as
              is appropriate with regard to any performance conditions imposed
              pursuant to Rule 2.2 within thirty days of the Announcement Date
              following the expiry of the Performance Period (or within thirty
              days of the lifting of any embargo as described in Rule 2.3).

       4.2    If a Participant dies, his Award shall vest in his personal
              representatives and the Trustees shall transfer the Shares
              comprised in his Award to the personal representatives within
              twelve months of the date of his death.

       4.3    If a Participant ceases to be in Employment for any other reason,
              he shall forfeit his Award unless the Trustees decide otherwise,
              in which case they shall transfer to him such of the Shares as is
              appropriate with regard to any performance conditions imposed
              pursuant to Rule 2.2 within thirty days of the Announcement Date
              following the expiry of the Performance Period (or within thirty
              days of the lifting of any embargo as described in Rule 2.3).

       4.4    For the purposes of Rule 4.1 and Rule 4.3, the appropriate number
              of Shares will depend on the nature of the performance condition.
              It is anticipated that the conditions will result in either all of
              the Shares comprised in an Award vesting or in none of them
              vesting. However, it may be that the conditions will permit
              partial vesting, depending on the degree to which the conditions
              are satisfied.

       4.5    On a change in Control of the Company or on a compromise or
              arrangement proposed for the purposes of or in connection with a
              scheme for the reconstruction of the Company or its amalgamation
              with any other company or companies then the Trustees shall take
              whatever steps they consider appropriate including considering
              whether to exercise their discretion to

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              transfer some or all of the Shares comprised in any Award. The
              Trustees will usually transfer some of the Shares comprised in an
              Award within 30 days of a change in Control unless, in their
              opinion, the transaction is a "reverse takeover" in which case the
              Trustees may substitute shares in the acquiring company for the
              Shares comprised in the Award and they may amend the performance
              conditions imposed pursuant to Rule 2.2. Where the Trustees
              transfer some of the Shares on a change in Control, the number of
              Shares to be transferred shall be calculated pro rata to the
              proportion of the period between the date the Award was made and
              the original projected transfer date which has elapsed. For the
              purposes of this Rule, a person shall be deemed to have obtained
              Control of a company if he and others acting in concert with him
              have together obtained Control of it.

5.     DIVIDENDS AND REORGANISATION OF SHARE CAPITAL

       5.1    In the event of any capitalisation or rights issue or rights offer
              or any consolidation, sub-division or reduction of capital by the
              Company or any other reorganisation, the number of Shares subject
              to any Award shall be adjusted by the Trustees, subject to Rule
              5.2, in such manner as the Directors shall confirm in writing to
              be, in their opinion, fair and reasonable.

       5.2    In the event of a rights issue, the Trustees may sell sufficient
              rights to allow them to take up the balance of the rights and they
              shall add any additional Shares so acquired to the Shares
              comprised in each Participant's Award.

       5.3    On the receipt of dividends on Shares comprised in any Awards, the
              Trustees may apply the net dividend in the purchase of additional
              Shares and/or they may pay the dividends to such Eligible
              Employees as they shall decide and/or they may add any additional
              Shares so acquired to the Shares comprised in each Participant's
              Award.

6.     TAXATION

       6.1    Any liability of a Participant to taxation and employees' National
              Insurance contributions in respect of an Award shall, subject to
              Rule 6.3, be for the account of the relevant Participant.

       6.2    On or before a transfer of Shares to a Participant (but subject to
              any other arrangements made under Rule 6.3), the Participant
              shall:

              6.2.1  remit to the Trustees sufficient funds; or

              6.2.2  give to the Trustees an authority to sell sufficient Shares

              to pay any taxes and employees' National Insurance contributions
              which any company or the Trustees are obliged to pay, withhold or
              deduct as a result of the transfer of Shares by the Trustees to
              the Participant.

       6.3    The Trustees may make an Award conditional on the Participant
              complying with such other arrangements for the payment of taxation
              and employees'

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              National Insurance contributions as the Trustees in their absolute
              discretion determine.

7.     ADMINISTRATION

       7.1    The Plan shall be administered by the Trustees whose decision on
              any matter connected with the Plan shall be final and binding.

       7.2    The Rules may, with the consent of the Trustees, be amended from
              time to time by Resolution of the Directors in any respect
              provided that no amendment shall be made to the definition of
              "Eligible Employee", the basis for determining a Participant's
              entitlement to Awards or the terms of the Awards made under the
              Plan or which would be otherwise to the advantage of Participants
              without the prior approval of the Company in general meeting
              except for minor amendments to benefit the administration of the
              Plan, to take account of a change in legislation or to obtain or
              maintain favourable tax, exchange control or regulatory treatment
              for Participants and/or the Company and its Subsidiaries.

       7.3    Subject as herein otherwise expressly provided the decision of the
              Directors on any matter concerning the interpretation of the Plan
              shall be final and binding.

       7.4    All notices under the Plan shall be in writing.

8.     GOVERNING LAW

       These Rules shall be governed by and construed in accordance with English
       law.REVISED OFFER LETTER DATED 7/25/2001

 

EXHIBIT 10.1

July 25, 2001

Mr. Michael F. Biehl

1303 West Melrose Drive

Westlake, Ohio 44145

Re: Chief Financial Officer Position with Chart Industries, Inc. (Chart)

Dear Michael:

In light of our conversation, and as a follow-up to my June 26, 2001 offer letter to you Vis a Vis the above captioned position, the following clarifications to item 7 “Severance” are being made to the same.

1.     Twelve (12) months base pay in the event of an involuntary termination “without cause”:

If your employment is involuntarily terminated by Chart “without cause”, then Chart shall pay you an amount equal to twelve (12) months of your then current base pay. The term “without cause” shall mean a
determination by the Board of Directors (without your participation in the same) of Chart pursuant to proper exercise of judgment, that any one of the following events has not occurred:

	 	i).	
 You have been indicted by a state or federal grand jury of committing a felony;

	 	 	 
	 	ii).	
 the Board receives proof satisfactory to it of your commission of theft or embezzlement from Chart, or any other crime against Chart;

	 	 	 
	 	iii). 	
You, for yourself or any other person, firm corporation or other entity, (a) solicit business from customers of Chart, (b) diverts or attempts to divert any business from Chart, or otherwise interferes with the business or
employment relationship between Chart or any customer, employee or sales representative thereof or; (c) disclose or furnishes to any competitor or any person, firm, corporation or other entity, or uses on your own behalf, any confidential or secret
information or data of or relating to Chart; or

	 	 	 
	 	iv).	
 You fail or refuse or are unable to perform your services and duties for Chart as provided for in the offer letter referenced above, or as reasonably assigned to you by Chart, or commit any act of gross negligence, corporate
waste, disloyalty, or unfaithfulness to Chart which adversely affects the business of Chart, any material breach of your employment obligations as set forth in part herein, or any other act or course of conduct which could reasonably be expected to
have an adverse affect on Chart’s business such as, by way of example only, intentionally causing Chart to violate federal, state or local environmental, labor, antitrust, or other similar laws, or sexual or other illegal harassment of
employees.

1

Michael F. Biehl

July 25, 2001

2.     Twenty-four (24) months of salary continuation in the case of a “Change of Control”:

In the event that your employment is terminated due to a “Change in Control”, then Chart shall continue your then present base salary for a period of twenty-four (24) months from the date of your involuntary termination
due to a “Change in Control”. The term “Change in Control” shall mean the following:

	 	i). 	
the purchase of at least 50.1% of Chart’s common stock (which includes any securities convertible into such common stock) pursuant to a tender offer or exchange (other than a tender offer or exchange by Chart);

	 	 	 
	 	ii).	
 the date of approval by stockholders of Chart of an agreement providing for any consolidation or merger of Chart in which Chart will not be the continuing or surviving corporation or pursuant to which shares of the capital stock,
of any class or any securities convertible into cash, securities, or other property, other than a merger of Chart in which the holders of common stock of all classes of Chart immediately prior to the merger would have the same proportion of
ownership of common stock of the surviving corporation immediately after the merger;

	 	 	 
	 	iii). 	
the date of the approval by stockholders of Chart of any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all the assets of Chart; or

	 	 	 
	 	iv). 	
the adoption of any plan or proposal for the liquidation (but not a partial liquidation) or dissolution of chart.

I trust the terms of and the foregoing clarifications and modifications to the offer letter referred to above, which is incorporated herein by reference, are acceptable to you. If so, please indicate your acceptance and agreement
to the same below and return one copy of this letter agreement to me.

Michael, I look forward to having you join the Chart team and working with you.

	Best regards, 	 	
Acknowledged and agreed to by:

	 	 	 
	
/s/ Arthur S. Holmes

	 	 
	 	 	
  /s/ Michael F. Biehl                             7/25/01

	Arthur S. Holmes	 	Michael F. Biehl                                
     Date
	
Chairman & Chief Executive Officer

	 	 
	 	 	 

2

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