Document:

STOCK DEFERRAL PLAN DATED MAY 27,2001

 EXHIBIT 10.(xv)
 TEKTRONIX, INC.
 STOCK DEFERRAL PLAN
 Restated June 1, 2001

 TABLE OF CONTENTS

	 	 	PAGE
		
	
ARTICLE I—PURPOSE AND EFFECTIVE DATE	 1
	 	 
			
	 
ARTICLE II—DEFINITIONS	 1
	 	 	 
			
	 2.1	 
Account	 1
	 2.2	 
Administrative Committee	 1
	 2.3	 
Beneficiary	1
	 2.4	 
Board	 1
	 2.5	 
Bonus	 1
	 2.6	 
Change in Control	 2
	 2.7	 
Company	 2
	 2.8	 
Compensation	 2
	 2.9	 
Deferral Commitment	 2
	 2.10	 
Deferral Period	 3
	 2.11	 
Determination Date	 3
	 2.12	 
Director	 3
	 2.13	 
Director Fees	 3
	 2.14	 
Disability	 3
	 2.15	 
Earnings Index	 3
	 2.16	 
Elective Deferred Compensation	 3
	 2.17	 
Eligible Stock Option	 3
	 2.18	 
Employer	 3
	 2.19	 
Option Gain	4
	 2.20	 
Participant	 4
	 2.21	 
Participation Agreement	 4
	 2.22	 
Plan	 4
	 2.23	 
Rate of Return	 4
	 2.24	 
Retirement	 4
	 2.25	 
Salary	 4
	 2.26	 
Stock	 4
	 2.27	 
Stock Option Deferral	 4
	 2.28	 
Stock Option Deferral Amount	 5
	 2.29	 
Unforeseen Emergency	 5
	 	 
			
	 
ARTICLE III—PARTICIPATION AND DEFERRAL COMMITMENTS	 5
	 	 	 
			
	 3.1	 
Eligibility and Participation	 5
	 3.2	 
Form of Deferral	 5
	 3.3	 
Limitations on Deferral Commitments	 6
	 3.4	 
Commitment Limited by Termination	 6
	 3.5	 
Modification of Deferral Commitment	 6
	 3.6	 
Beginning Account Balances	 6

 (i)

  
 TABLE OF CONTENTS

	 	 	  PAGE  
		
	 
ARTICLE IV—DEFERRED COMPENSATION ACCOUNTS 	  7  
	 	 	    
	 4.1 
 	 
Accounts 
 	  7  
	 4.2 
 	 
Elective Deferred Compensation 
 	  7  
	 4.3 
 	 
Matching Contribution 
 	  7  
	 4.4 
 	 
Pension Makeup 
 	  7  
	 4.5 
 	 
Determination of Accounts 
 	  8  
	 4.6 
 	 
Vesting of Accounts 
 	  8  
	 4.7 
 	 
Statement of Accounts 
 	  8  
	 	    
	 
ARTICLE V—PLAN BENEFITS 	  8  
	 	 	    
	 5.1 
 	 
Distributions Prior to Termination of Employment 
 	  8  
	 5.2 
 	 
Distributions Following Termination of Service 
 	  9  
	 5.3 
 	 
Benefit Commencement 
 	  9  
	 5.4 
 	 
Accelerated Distribution 
 	  10  
	 5.5 
 	 
Deferred Payment of Benefit 
 	  10  
	 5.6 
 	 
Withholding for Taxes 
 	  10  
	 5.7 
 	 
Valuation and Settlement 
 	  10  
	 5.8 
 	 
Payment to Guardian 
 	  10  
		
	 
ARTICLE VI—BENEFICIARY DESIGNATION 	  10  
			
	 6.1 
 	 
Beneficiary Designation 
 	  10  
	 6.2 
 	 
Changing Beneficiary 
 	  11  
	 6.3 
 	 
No Beneficiary Designation 
 	  11  
	 6.4 
 	 
Effect of Payment 
 	  11  
		
	 
ARTICLE VII—ADMINISTRATION 	  11  
			
	 7.1 
 	 
Committee; Duties 
 	  11  
	 7.2 
 	 
Agents 
 	  11  
	 7.3 
 	 
Binding Effect of Decisions 
 	  11  
	 7.4 
 	 
Indemnity of Committee 
 	  12  
		
	 
ARTICLE VIII—CLAIMS PROCEDURE 	  12  
			
	 8.1 
 	 
Claim 
 	  12  
	 8.2 
 	 
Denial of Claim 
 	  12  
	 8.3 
 	 
Review of Claim 
 	  12  
	 8.4 
 	 
Final Decision 
 	  12  

 (ii)

 TABLE OF CONTENTS

	 	 
 	 PAGE 
		
	 
ARTICLE IX—AMENDMENT AND TERMINATION OF PLAN	 13 
			
	 9.1 
 	 
Amendment 
 	 13 
	 9.2 
 	 
Employer’s Right to Terminate 
 	 14 
		
	 
ARTICLE X—MISCELLANEOUS	 14 
			
	 10.1 
 	 
Unfunded Plan 
 	 14 
	 10.2 
 	 
Unsecured General Creditor 
 	 14 
	 10.3 
 	 
Trust Fund 
 	 14 
	 10.4 
 	 
Nonassignability 
 	 15 
	 10.5 
 	 
Not a Contract of Employment 
 	 15 
	 10.6 
 	 
Protective Provisions 
 	 15 
	 10.7 
 	 
Governing Law 
 	 15 
	 10.8 
 	 
Validity 
 	 15 
	 10.9 
 	 
Notice 
 	 15 
	 10.10 
 	 
Successors 
 	 15 

 (iii) 

 TEKTRONIX, INC.
 STOCK DEFERRAL PLAN
 
Article I—Purpose and Effective Date
                 The purpose of this
Stock Deferral Plan is to provide current tax planning opportunities as well as supplemental funds upon the retirement or death of certain Directors and employees of Employer. It is intended that the Plan will aid in attracting and retaining
Directors and employees of exceptional ability by providing them with these benefits. The Plan shall be effective as of May 27, 2001. The Plan is restated as of June 1, 2001 to include Directors as eligible Plan Participants. 
 
Article II—Definitions
                For the purposes of this Plan, the
following terms shall have the meanings indicated, unless the context clearly indicates otherwise: 
 
2.1  Account 
                "Account" means the device used by Employer to measure
and determine the amounts to be paid to a Participant under the Plan. Separate subaccounts may be maintained to properly reflect the Participant’s balance and earnings thereon. A Participant’s Account shall not constitute or be treated as
a trust fund of any kind. 
 
2.2  Administrative Committee 
                "Administrative Committee" means the
committee appointed to administer the Plan pursuant to Article VII. 
 
2.3  Beneficiary
                "Beneficiary" means the person, persons or entity
entitled under Article VI to receive any Plan benefits payable after a Participant’s death. 
 
2.4  Board 
                "Board" means the Board of Directors of the Company.

 
2.5  Bonus 
               "Bonus" means any incentive compensation that is payable to a
Participant in addition to the Participant’s Salary. 
 PAGE 1 - STOCK DEFERRAL PLAN

 
2.6 Change in Control 
                A "Change in Control" shall occur when: 
                 (a) The shareholders of the Company approve one (1) of the following ("Approved Transactions") and either (x) such Approved
Transaction is consummated or (y) the Board determines that consummation of such Approved Transaction is likely: 
                 (i) Any consolidation, merger or plan of exchange involving the Company ("Merger") in which the Company is not the continuing
or surviving corporation or pursuant to which Stock would be converted into cash, securities or other property, other than a Merger involving the Company in which the holders of Stock immediately prior to the Merger have the same proportionate
ownership of Stock of the surviving corporation after the Merger; or
                (ii) Any sale, lease, exchange, or
other transfer (in one (1) transaction or a series of related transactions) of all or substantially all of the assets of the Company or the adoption of any plan or proposal for the liquidation or dissolution of the Company; or

                (b) A tender or exchange offer, other than one made by the Company, is made for Stock (or securities
convertible into Stock) and such offer results in a portion of those securities being purchased and the offeror after the consummation of the offer is the beneficial owner (as determined pursuant to Section 13(d) of the Securities Exchange Act of
1934, as amended (the "Exchange Act")), directly or indirectly, of at least twenty percent (20%) of the outstanding Stock (an "Offer"); or
                (c) During any period of twelve (12) months or less, individuals who at the beginning of such period constituted a majority of the Board
cease for any reason to constitute a majority thereof unless the nomination or election of such new directors was approved by a vote of at least two-thirds (2/3) of the directors then still in office who were directors at the beginning of such
period.
 
                The terms used in this 2.6 and not defined elsewhere in the Plan shall have the same
meanings as such terms have in the Exchange Act and the rules and regulations adopted thereunder.
 
2.7 Company 
                "Company" means Tektronix, Inc., an Oregon
corporation, or any successor to the business thereof. 
 
2.8 Compensation 
                "Compensation" means the Salary, Bonus, Directors’ Fees, and Option Gain that the Participant earns for services rendered to the Company. 
 
2.9 Deferral Commitment 
               "Deferral Commitment" means an election to
defer Compensation made by a Participant pursuant to Article III and for which a separate Participation Agreement has been submitted by the Participant to the Administrative Committee. 
 PAGE
2 - STOCK DEFERRAL PLAN

 
2.10 Deferral Period 
                For Directors, "Deferral Period" means a twelve
(12)-month period beginning September 1 and ending August 31. 
                For employees, it means a calendar
year, except the initial Deferral Period shall begin May 27, 2001 and end December 31, 2001. 
 
2.11 Determination Date 
                "Determination Date" means the last day of each
calendar month. 
 
2.12 Director 
               "Director" means a member of the Company’s Board of Directors.

 
2.13 Director Fees 
                "Director Fees" means all Board retainer and
committee meeting fees earned and payable in cash or stock payable to a Participant plus Eligible Stock Option gains (before reduction for amounts deferred under this Plan or under the Deferred Compensation Plan). Director Fees do not include
expenses, reimbursements, or benefits. 
 
2.14 Disability 
                "Disability" means a physical or mental condition
which, in the opinion of the Administrative Committee, prevents the Participant from satisfactorily performing the Participant’s usual duties for the Company. The Administrative Committee’s decision as to Disability will be based upon
medical reports and/or other evidence satisfactory to the Administrative Committee. 
 
2.15 Earnings Index 
                "Earnings Index" means the Tektronix Common Shares
to be used as an index in calculating Rate of Return. 
 
2.16 Elective Deferred Compensation 
                "Elective Deferred Compensation"
means the amount of Compensation that a Participant elects to defer pursuant to a Deferral Commitment. 
 
2.17 Eligible Stock Option 
               "Eligible Stock Option" means one (1) or more
nonqualified stock option(s) under a Company stock option plan that is determined by the Committee to be eligible for gain deferral pursuant to this Plan. 
 
2.18 Employer 
                "Employer" means the Company or any successor to the
business thereof, and any affiliated or subsidiary corporations designated by the Administrative Committee. 
 PAGE 3 - STOCK DEFERRAL PLAN

 
2.19 Option Gain 
                "Option Gain" means the amount by which the fair
market value of exercised Tektronix Common Share options exceeds the exercise price. 
 
2.20 Participant 
                "Participant" means any eligible individual who has
elected to defer Compensation under this Plan. 
 
2.21 Participation Agreement 
                "Participation Agreement" means the
agreement submitted by a Participant (including the Benefit Payment Election Form) to the Administrative Committee prior to the beginning of the Deferral Period, with respect to a Deferral Commitment made for such Deferral Period. 

2.22 Plan 
                "Plan" means this Tektronix, Inc. Stock Deferral Plan, as
amended from time to time.  
 
2.23 Rate of Return 
                "Rate of Return" means the rate used to determine
the amount credited monthly to a Participant’s Account under Article IV. Such rate shall be determined by the Administrative Committee based upon the net performance of the Earnings Index of the Tektronix Common Shares. 

2.24 Retirement 
               "Retirement" means an employee’s termination of
employment with Employer on or after the employee’s attainment of age fifty-five (55) or after five (5) years of service, or a Board member’s termination after age fifty-five (55). 
 
2.25 Salary 
               "Salary" means the Employee’s base salary for the Plan Year.
Salary excludes any other form of compensation such as restricted stock, proceeds from stock options or stock appreciation rights, severance payments, moving expenses, car or other special allowance, or any other amounts included in an Eligible
Employee’s taxable income that is not compensation for services. Deferral elections shall be computed before taking into account any reduction in taxable income by Salary reduction under Code Sections 125 or 401(k), or under this Plan.

 
2.26 Stock 
                "Stock" means Tektronix, Inc. Common Shares.

 
2.27 Stock Option Deferral 
               "Stock Option Deferral" means a stock-for-stock
exercise of an Eligible Stock Option having an aggregate fair market value in excess of the total stock purchase price necessary to exercise such options. 
 PAGE 4 - STOCK DEFERRAL
PLAN

 
2.28 Stock Option Deferral Amount 
                "Stock Option Deferral Amount" means the amount of a Participant’s Option Gains deferred in connection with an Eligible Stock Option exercise and Stock Option Deferral in accordance with Section 4.2(c) of this Plan.

 
2.29 Unforeseen Emergency 
                "Unforeseen Emergency" means a severe
financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent (as defined in Section 152(a) of the Internal Revenue Code) of the Participant, loss of the Participant’s
property due to casualty, or other  similar extraordinary and un-foreseeable circumstances arising as a result of events beyond the control of the Participant. The circumstances that will
constitute an unforeseeable emergency will depend upon the facts of each case, but in any case, payment may not be made to the extent that such hardship is or may be relieved: 
                 (a) Through reimbursement or compensation by insurance or otherwise, 
                (b) By liquidation of the Participant’s assets, to the extent the liquidation of such assets would not itself cause severe
financial hardship, or 
                (c) By cessation of deferrals under the Plan. 
 
 
Article III—Participation and Deferral Commitments
 
3.1 Eligibility and Participation 
                 (a) Eligibility.
Eligibility to participate in the Plan is limited to Board Directors and Vice Presidents and above and any other highly compensated employee selected by the Administrative Committee. 
                (b) Participation. Eligible employees and Board members may elect to participate in the Plan with respect to any Deferral Period
by submitting a Participation Agreement to the Administrative Committee by the December 31 immediately preceding the Deferral Period, except an election to participate in the Plan with respect to the initial Deferral Period shall be timely if made
by May 18, 2001. Eligible Directors may elect to participate in the Plan with respect to any Deferral Period by submitting a Participation Agreement to the Administrative Committee by the August 31 immediately preceding the Deferral Period.

                (c) Part-Year Participation. When a Director or an employee first becomes eligible to defer
Compensation during a Deferral Period, a Participation Agreement must be submitted to the Administrative Committee no later than thirty (30) days following notification to the Participant of eligibility to defer, and such Participation Agreement
shall be effective only with regard to Compensation earned or payable following the submission of the Participation Agreement to the Administrative Committee. 
 
 
3.2 Form of Deferral 
                A Participant may elect Deferral Commitments in
the Participation Agreement as follows: 
                 (a) Salary Deferral Commitment. A
Salary Deferral Commitment shall be related to the Salary payable by Employer to a Participant during the Deferral Period. The amount to be deferred into the Participant’s Stock subaccount shall be stated as a flat percentage or dollar amount.

 
 PAGE 5 - STOCK DEFERRAL PLAN

                 (b) Bonus Deferral Commitment. A Bonus Deferral Commitment shall
be related to any Bonus payable to the Participant during the Deferral Period. The amount to be deferred into the Participant’s Stock subaccount shall be stated as a flat percentage or dollar amount. 
                (c) Stock Option Deferral Commitment. To the extent permitted by the Committee, a Participant may elect to defer into his or her
Stock subaccount all or a portion of his or her Option Gain, subject to such terms and conditions as the Committee may establish. 
                (d) Director Fees Deferral Commitment. A Director Fees Commitment shall relate to the payment of stock for Board services,
Eligible Stock Option gains and Board fee payable in cash earned by a Participant during the Deferral Period. The amount to be deferred into the Participant’s Stock subaccount shall be stated as a flat percentage or dollar amount. 

 
3.3 Limitations on Deferral Commitments 
                The following limitations shall apply to
Deferral Commitments: 
                 (a) Minimum. The minimum deferral amount shall be five thousand
dollars ($5,000) per year. This minimum may be met by participation in this Plan or in the Tektronix Deferred Compensation Plan, or in a combination thereof. 
                (b) Maximum. The maximum deferral amount shall be ninety percent (90%) of Salary and one hundred percent (100%) of Bonus or
Director Fees. However, when combined, deferrals into the Stock Deferral Plan and the Deferred Compensation Plan may not exceed ninety percent (90%) of Salary and one hundred percent (100%) of Bonus, or Director Fees. 
                (c) Changes in Minimum or Maximum. The Administrative Committee may change the minimum or maximum deferral amounts from time to
time by giving written notice to all Participants. No such change may affect a Deferral Commitment made prior to the Administrative Committee’s action. 
 
 
3.4 Commitment Limited by Termination 
                If a Participant terminates employment or Board
service with Employer prior to the end of the Deferral Period, the Deferral Period and the Deferral Commitment shall end at the date of termination. 
 
3.5 Modification of Deferral Commitment 
                Participants may reduce or suspend their
Deferral Commitments based on an Unforeseen Emergency in accordance with rules established by the Administrative Committee, provided that the modification applies only to a Director’s Fee, Salary, Bonus or Stock Option Deferral payment that is
not yet payable. 
 
3.6 Beginning Account Balances 
                Any Director who becomes eligible to participate in
this Plan shall have a Beginning Account Balance equal to any existing stock account balance(s) as of September 1, 2001 under the former Tektronix Non-Employee Directors’ Stock Compensation Plan. 
                Any executive who becomes eligible to participate in this Plan shall have a beginning Account balance equal to any existing account
balance(s) under the former Tektronix Deferred Compensation Plan, 1992 Restatement, as of the date the executive is eligible to defer under this Plan. However, any amount converted into this plan,
 PAGE 6 - STOCK DEFERRAL PLAN

 and/or into the Tektronix Deferred Compensation Plan, will be converted in the proportions you elect, but no more than one hundred percent (100%) of the total balance available
for conversion. 
 
Article IV—Deferred Compensation Accounts
 
4.1 Accounts 
                 For record keeping purposes only, an Account shall be maintained for
each Participant. Separate subaccounts shall be maintained to the extent necessary to properly reflect the Participants’ Tektronix Common Share total vested or nonvested Account balances. The Account shall be a bookkeeping device utilized for
the sole purpose of determining the benefits payable under the Plan and shall not constitute a separate fund of assets. 
 
4.2 Elective Deferred Compensation 
                (a) A Participant’s Elective Deferred
Compensation shall be credited to the Participant’s Account with shares of phantom stock with a value equal to the corresponding Compensation deferred and at the same time the nondeferred portion of the Compensation becomes or would have been
payable. Any withholding of taxes or other amounts with respect to deferred Compensation which is required by state, federal or local law shall be withheld from the Participant’s nondeferred Compensation to the maximum extent possible with any
excess reducing the amount to be credited to the Participant’s Account. 
                (b) As soon as practicable
after Stock would have otherwise been issued to the Participant in connection with the exercise of an Eligible Stock Option, the Committee shall credit a Stock subaccount of the Participant’s Account with shares of phantom stock with a value
equivalent to the Option Gain which has been deferred by the Participant in accordance with the Participant’s election; that is, the portion of the Participant’s Option Gain that the Participant has elected to defer shall be credited to
the Stock subaccount of the Participant’s Account. 
 
4.3 Matching Contribution 
                The Employer shall credit a matching contribution to the
Participant’s Account equal to any matching contribution which would have been credited to the Participant’s 401(k) Savings Plan but for the Participant’s participation in this Plan. However, when combined with any credit to the
Participant’s subaccount in the Tektronix Deferred Compensation Plan, the total amount credited shall be no more than one hundred percent (100%) of the eligible matching contribution. 
 
4.4 Pension Makeup 
                The Employer shall restore an amount equal to any reduction in a
Participant’s Qualified Pension Plan benefits resulting from deferrals under this Plan to the extent that the Qualified Pension Plan benefits are not restored by any other plan or agreement provided by the Employer. Such restoration shall be
made by crediting to the Participant’s Account the amount by which the Participant’s cash balance credit under the Qualified Pension Plan is lower than the amount that would have been credited in the absence of deferrals under this Plan.
Such amount shall be credited to the Account within ninety (90) days after the corresponding cash balance credit would have been made under the Qualified Pension Plan. However, when combined with any credit to the Participant’s subaccount in
the Tektronix Deferred Compensation Plan, the total amount credited shall be no more than one hundred percent (100%) of the Qualified Pension Plan makeup. 
 PAGE 7 - STOCK DEFERRAL PLAN

 
4.5 Determination of Accounts 
                Each Participant’s Account as of
each Determination Date shall consist of the balance of the Participant’s Account as of the immediately preceding Determination Date, plus the Participant’s Elective Deferred Compensation credited during the period, plus earnings
calculated using the Rate of Return, minus the amount of any distributions made since the immediately preceding Determination Date.  
 
4.6 Vesting of Accounts 
                Each Participant shall be one hundred percent
(100%) vested at all times in the Participant’s Elective Deferred Compensation and any earnings thereon. Any matching contributions under Section 4.3 or Qualified Pension Plan makeup under 4.4 shall vest pursuant to the vesting schedule of the
underlying qualified plan. 
 
4.7 Statement of Accounts 
                The Administrative Committee shall give to
each Participant a statement setting forth the balances in the Participant’s Account on a quarterly basis and at such other times as may be determined by the Administrative Committee. 
 
Article V—Plan Benefits
 
5.1 Distributions Prior to Termination of Employment 
                A
Participant’s Account may be distributed to the Participant prior to termination of employment as follows: 
                 (a) Scheduled Early Withdrawals. A Participant may elect in a Participation Agreement to withdraw all or any
portion of the amount deferred (and earnings thereon) pursuant to that Participation Agreement in a single lump sum or from two (2) to five (5) substantially equal annual installments commencing the first January and on each subsequent January
following the date specified in the election. Such date shall not be sooner than three (3) years after the date the Deferral Period commences in which the scheduled early withdrawal was initially elected. Upon a Participant’s termination, any
balance subject to a Scheduled Early Withdrawal election shall be distributed in a lump sum within sixty (60) days. 
                (b) Hardship Withdrawals. Upon a finding that a Participant has suffered an Unforeseen Emergency, the
Administrative Committee may, in its sole discretion, make distributions from the Participant’s Account. The amount of such a withdrawal shall be limited to the amount the Administrative Committee determines to be reasonably necessary to meet
the Participant’s needs resulting from the Unforeseen Emergency. If any payment is made due to Unforeseen Emergency, any existing Deferral Commitment shall be null and void and the Participant shall not be permitted to make any Deferral
Commitment for twelve (12) months. Any such hardship withdrawal distribution shall be payable in a single lump sum within thirty (30) days after the Administrative Committee approves such payment. 
 
 PAGE 8 - STOCK DEFERRAL PLAN

 
5.2 Distributions Following Termination of Service
                (a) Retirement or Disability
Benefit.
                 (i) Benefit Amount. If a Participant terminates service with Employer due
to Retirement or Disability, Employer shall pay to the Participant a benefit equal to the balance in the Participant’s Account. 
                (ii) Form of Benefit. Subject to Section 5.2(a)(iii), benefits under this Section 5.2(a) shall be paid in the form or forms
selected by the Participant in the Participation Agreement. Optional forms of payment include a lump-sum payment or substantially equal annual installments of the Account amortized over a period of up to fifteen (15) years. The initial payment shall
be as elected by the Participant, either within sixty (60) days of termination or in January following termination, and all subsequent payments, if any, shall be in subsequent Januarys. In order to provide substantially equal installments, the
Committee shall assume a rate of return during the period of payment and may, at its discretion, adjust the assumed rate and the size of future installments based on the actual experience of Earnings Index of the Tektronix Common Shares. 

               (iii) Mandatory Lump-Sum Payments. Notwithstanding Section 5.2(a)(ii), if an employee terminates employment
before age fifty-five (55), or with less than five (5) years of service, or if a Director terminates Board service before age fifty-five (55), or if a Participant’s Account is less than fifty thousand dollars ($50,000) on the Retirement date, a
lump-sum benefit will be made regardless of the distribution method the Participant elected. 
                (iv)
Change in Form of Payment. Notwithstanding the above, a Participant may elect to change the form or forms of payment designation which shall supersede the form of payment designations in all prior Participation Agreements and prior elected
changes. If the Participant’s most recent change of payment designation has not been filed thirteen (13) calendar months prior to the date of employment termination, the prior election shall be used to determine the form of payment. 

               (v) Termination Benefit. If a Participant terminates employment or Board service with Employer for any reason
other than Retirement, Disability, or death, Employer shall pay to the Participant a lump-sum benefit equal to the balance in the Participant’s Account. 
 
                (b) Death Benefit.
                 (i) Preretirement. If a Participant terminates employment or Board service with Employer due to death, Employer shall pay to the
Participant’s Beneficiary a lump-sum benefit equal to the vested balance in the Participant’s Account. 
                (ii) Postretirement. If a Participant dies following the Participant’s Retirement, Employer shall continue to pay any
remaining benefit payments to the Participant’s Beneficiary in the form previously elected by the Participant for Retirement benefits. 
 
                (c) All balances in a Participant’s Stock subaccount shall be paid in Stock.
 
5.3 Benefit Commencement 
                Benefits shall commence as soon as practical after
termination but in no case more than sixty (60) days after termination. 
 PAGE 9 - STOCK DEFERRAL PLAN

 
5.4 Accelerated Distribution 
                Notwithstanding any other provision of the
Plan, at any time a Participant shall be entitled to receive, upon written request to the Administrative Committee, a lump-sum distribution equal to ninety percent (90%) of the Account balance as of the Determination Date immediately preceding the
date on which the Administrative Committee receives the written request. The remaining balance shall be forfeited by the Participant. The amount payable under this section shall be paid in a lump-sum benefit within thirty (30) days following the
receipt of the notice by the Administrative Committee from the Participant. Such Participant shall not be eligible to participate in the Plan for a period of one (1) year from the date of distribution. 
 
5.5 Deferred Payment of Benefit 
                If part of a Participant’s
compensation is not deductible under IRC Section 162(m), then Tektronix may require the Participant to defer payment of benefits under this Article to avoid the limitation set forth in Section 162(m). Any deferred benefits under this Section shall
be distributed to the Participant in the first calendar year such amounts would not exceed the limitation as set out in IRC Section 162(m). 
 
5.6 Withholding for Taxes 
                To the extent required by the law in effect
at the time payments are made, Employer shall withhold from payments made hereunder any taxes required to be withheld by the federal or any state or local government, including any amounts which the Employer determines are reasonably necessary to
pay any generation-skipping transfer tax which is or may become due. A beneficiary, however, may elect not to have withholding of federal income tax pursuant to Section 3405 of the Internal Revenue Code, or any successor provision thereto.

 
5.7 Valuation and Settlement 
                The amount of a lump-sum payment and the
initial installment payment shall be based on the value of the Participant’s Account on the Determination Date immediately preceding the lump-sum payment or commencement of installment payments. 
 
5.8 Payment to Guardian 
                The Administrative Committee may direct payment
to the duly appointed guardian, conservator, or other similar legal representative of a Participant or Beneficiary to whom payment is due. In the absence of such a legal representative, the Administrative Committee may, in its sole and absolute
discretion, make payment to a person having the care and custody of a minor, incompetent or person incapable of handling the disposition of property upon proof satisfactory to the Administrative Committee of incompetency, minority, or incapacity.
Such distribution shall completely discharge the Administrative Committee from all liability with respect to such benefit. 
 
Article VI—Beneficiary Designation 
 
6.1 Beneficiary Designation 
                Each Participant shall have the right, at
any time, to designate a Beneficiary (both primary as well as contingent) to whom benefits under this Plan shall be paid if a Participant dies prior to complete distribution to the Participant of the benefits due under the Plan. Each Beneficiary
designation shall be in a written form prescribed by the 
 PAGE 10 - STOCK DEFERRAL PLAN

 Administrative Committee, and will be effective only when filed with the Administrative Committee during the Participant’s lifetime. 
 
6.2 Changing Beneficiary 
                Any Beneficiary designation may be changed by a Participant
without the consent of the previously named Beneficiary by the filing of a new Beneficiary designation with the Administrative Committee. The filing of a new Beneficiary designation shall cancel all Beneficiary designations previously filed. If a
Participant’s Compensation is community property, any Beneficiary Designation shall be valid or effective only as permitted under applicable law. 
 
6.3 No Beneficiary Designation 
                In the absence of an effective Beneficiary Designation,
or if all designated Beneficiaries predecease the Participant or die prior to complete distribution of the Participant’s benefits, the Participant’s designated Beneficiary shall be deemed to be the Participant’s estate. 

6.4 Effect of Payment 
                Payment to the Beneficiary shall completely discharge
Employer’s obligations under this Plan. 
 
Article VII—Administration
 
7.1 Committee; Duties 
                The Plan shall be administered by an Administrative Committee
consisting of three (3) members as may be appointed from time to time by the Board. The Administrative Committee shall have the authority to interpret and enforce all appropriate rules and regulations for the administration of the Plan and decide or
resolve any and all questions, including determination of eligibility and interpretations of the Plan, as may arise in such administration. A majority vote of the Administrative Committee members in office at the time of the vote shall control any
decision. The required majority action may be taken either by a vote at a meeting or without a meeting by a signed memorandum. Meetings may be conducted by telephone conference call. The Administrative Committee may, by majority action, delegate to
one or more of its members the authority to execute and deliver in the name of the Administrative Committee all communications and documents which the Administrative Committee is required or authorized to provide under this Plan. Any party shall
accept and rely upon any document executed in the name of the Administrative Committee. Members of the Administrative Committee may be Participants under this Plan. 
 
7.2 Agents 
                The Administrative Committee may, from time to time, employ agents and
delegate to them such administrative duties as it sees fit, and may from time to time consult with counsel who may be counsel to the Company. 
 
7.3 Binding Effect of Decisions 
                The decision or action of the Administrative Committee
with respect to any question arising out of or in connection with the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final, conclusive and binding upon all persons having any
interest in the Plan. 
 PAGE 11- STOCK DEFERRAL PLAN

 
7.4 Indemnity of Committee 
                The Company shall indemnify and hold
harmless the members of the Administrative Committee against any and all claims, loss, damage, expense or liability arising from any action or failure to act with respect to this Plan on account of such person’s service on the Administrative
Committee, except in the case of gross negligence or willful misconduct. 
 
Article VIII—Claims Procedure
 
8.1 Claim 
                Any person claiming a benefit, requesting an interpretation
or ruling under the Plan, or requesting information under the Plan shall present the request in writing to the Administrative Committee which shall respond in writing within thirty (30) days. 
 
8.2 Denial of Claim 
                If the
claim or request is denied, the written notice of denial shall state: 
                 (a) The reason
for denial, with specific reference to the Plan provisions on which the denial is based. 
                (b) A description
of any additional material or information required and an explanation of why it is necessary. 
                (c) An
explanation of the Plan’s claim review procedure. 
 
 
8.3 Review of Claim 
                 (a) Any person whose claim or request is denied or who has not received a response within thirty (30) days may request review by notice given in writing to the Administrative Committee. The claim or request shall be reviewed by the
Administrative Committee who may, but shall not be required to, grant the claimant a hearing. On review, the claimant may have representation, examine pertinent documents, and submit issues and comments in writing. 
                (b) Such notice shall be made within the lesser of ninety (90) days of notice of denial or one hundred twenty (120) days of the
original written claim.  
 
 
8.4 Final Decision 
                The
decision on review shall normally be made within sixty (60) days. If an extension of time is required for a hearing or other special circumstances, the claimant shall be notified and the time limit shall be one hundred twenty (120) days. The
decision shall be in writing and shall state the reason and the relevant plan provisions. All decisions on review shall be final and bind all parties concerned. 
 PAGE 12- STOCK DEFERRAL
PLAN

 
Article IX—Amendment and Termination of Plan
 
9.1 Amendment
                 (a) The Company may amend the Plan at any time and from time
to time by written instrument. Except as provided in (b) below, the power to amend may be executed only by the Board. 
                (b) The Administrative Committee may adopt any technical, clerical, conforming or clarifying amendment or other change, provided:

                 (i) The Administrative Committee deems it necessary or advisable to: 
 
               (A) Correct any defect, supply any omission or reconcile any inconsistency in order to carry out the intent and
purposes of the Plan; 
                (B) Maintain the Plan’s status as a "top-hat" plan for purposes of ERISA; or

                (C) Facilitate the administration of the Plan; 
 
                (ii) The amendment or change does not, without the consent of the Board, materially increase the cost to the Employer of maintaining the
Plan; and 
                (iii) Any amendment adopted by the Administrative Committee shall be in writing, signed by a
member of the Committee and promptly reported to the Board. 
 
                (c) To the extent permitted
under subsection (e) below, amendments may have an immediate, prospective or retroactive effective date. 
                (d) Amendments do not require the consent of any Participant or Beneficiary. 
                (e) Amendments are subject to the following limitations: 
                 (i) Preservation of Account Balance. No amendment shall reduce the amount credited or to be credited to any Account as of the
date notice of the amendment is given to Participants. 
                (ii) Changes in Earnings Rate. If the Plan
is amended so that the Earnings Index is not used to calculate the Rate of Return, the rate of earnings to be credited to the Participant’s Account shall not be less than the monthly equivalent of the average nominal annual yield on three (3)
month Treasury bills for the applicable Determination Period. 
                (iii) After a Change in Control. No
amendment shall change the methodology used to calculate the Rate of Return in any way which will lower the Participant’s returns on any amounts deferred under Deferral Commitments filed prior to the Change in Control. 
                All amounts deferred under Deferral Commitments filed prior to a Change in Control shall be paid as originally elected by the
Participant unless the Participant voluntarily changes such distribution elections in accordance with 5.2(a)(iv). 
 
 
 PAGE 13- STOCK DEFERRAL PLAN

 
9.2 Employer’s Right to Terminate 
                The Board may at any time partially or completely terminate the Plan if, in its judgment, the tax, accounting or other effects of the continuance of the Plan, or potential payments thereunder would not be in
the best interests of Employer. 
                 (a) Partial Termination. The Board may
partially terminate the Plan by instructing the Administrative Committee not to accept any additional Deferral Commitments. If such a partial termination occurs, the Plan shall continue to operate and be effective with regard to Deferral Commitments
entered into prior to the effective date of such partial termination. 
                (b) Complete Termination. The
Board may completely terminate the Plan by instructing the Administrative Committee not to accept any additional Deferral Commitments, and by terminating all ongoing Deferral Commitments. If such a complete termination occurs, the Plan shall cease
to operate and Employer shall pay out each Account. Payment shall be made in a lump sum or in the installment schedule elected by the Participant for payment upon Retirement, as decided by the Company, except as follows. If a Change in Control has
occurred prior to the termination of the Plan, payment shall be made in the installment schedule elected by the Participant for payment upon Retirement. 
 
                Payments shall commence within sixty (60) days after the Board terminates the Plan and earnings shall continue to be credited on the
unpaid Account balance. 
 
Article X—Miscellaneous
 
10.1 Unfunded Plan 
                As to employees, this Plan is an unfunded plan
maintained primarily to provide deferred compensation benefits for a select group of "management or highly compensated employees" within the meaning of Sections 201, 301 and 401 of the Employee Retirement Income Security Act of 1974, as amended
("ERISA"), and therefore is exempt from the provisions of Parts 2, 3 and 4 of Title I of ERISA. As to Directors, this Plan is not subject to ERISA because it does not provide benefits for employees. 
 
10.2 Unsecured General Creditor 
                Participants and Beneficiaries shall be
unsecured general creditors, with no secured or preferential right to any assets of Employer or any other party for payment of benefits under this Plan. Any life insurance policies, annuity contracts or other property purchased by Employer in
connection with this Plan shall remain its general, unpledged and unrestricted assets. Employer’s obligation under the Plan shall be an unfunded and unsecured promise to pay money in the future. 
 
10.3 Trust Fund 
                At its discretion, the Employer may establish one (1)
or more trusts, with such trustees as the Employer may approve, for the purpose of providing for the payment of benefits owed under the Plan. Although such a trust shall be irrevocable, its assets shall be held for payment of all the Company’s
general creditors in the event of insolvency or bankruptcy. To the extent any benefits provided under the Plan are paid from any such trust, Employer shall have no further obligation to pay them. If not paid from the trust, such benefits shall
remain the obligation of Employer. 
 PAGE 14- STOCK DEFERRAL PLAN

 
10.4 Nonassignability 
                Neither a Participant nor any other person shall have any right
to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, payable hereunder, or any part thereof, which are, and all rights to which are,
expressly declared to be unassignable and nontransferable. No part of the amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a
Participant or any other person, nor be transferable by operation of law in the event of a Participant’s or any other person’s bankruptcy or insolvency. 
 
10.5 Not a Contract of Employment 
                This Plan shall not constitute a contract of
employment between Employer and the Participant. Nothing in this Plan shall give a Participant the right to be retained in the service of Employer or to interfere with the right of Employer to discipline or discharge a Participant at any time.

 
10.6 Protective Provisions 
                A Participant will cooperate with Employer by furnishing
any and all information requested by Employer in order to facilitate the payment of benefits hereunder, and by taking such physical examinations as Employer may deem necessary and taking such other action as may be requested by Employer. 

10.7 Governing Law 
                The provisions of this Plan shall be construed and interpreted
according to the laws of the State of Oregon, except as preempted by federal law. 
 
10.8 Validity 
                In case any provision of this Plan shall be held illegal or invalid for
any reason, said illegality or invalidity shall not affect the remaining parts hereof, but this Plan shall be construed and enforced as if such illegal and invalid provision had never been inserted herein. 
 
10.9 Notice 
                Any notice required or
permitted under the Plan shall be sufficient if in writing and hand delivered or sent by registered or certified mail. Such notice shall be deemed as given as of the date of delivery or, if delivery is made by mail, as of the date shown on the
postmark on the receipt for registration or certification. Mailed notice to the Administrative Committee shall be directed to the Company’s address. Mailed notice to a Participant or Beneficiary shall be directed to the individual’s last
known address in Employer’s records. 
 
10.10 Successors 
                The provisions of this
Plan shall bind and inure to the benefit of Employer and its successors and assigns. The term successors as used herein shall include any corporate or other business entity which shall, whether by
 PAGE 15- STOCK DEFERRAL PLAN

 merger, consolidation, purchase or otherwise acquire all or substantially all of the business and assets of Employer, and successors of any such corporation or other business
entity. 
   

	 	 
	 	 	 	TEKTRONIX, INC. 
	 	 	 	 
	 	 By:
 	 	/s/ JAMES F.
DALTON                                       
        
	 	 
 	 	Its: 
	 	 
 	 	 
	 	 Dated:
 	 	 July 25,
2001                                        
                        

 PAGE 16- STOCK DEFERRAL PLAN<PAGE>   1

                                                                    EXHIBIT 10.1

                              UNION DRILLING, INC.

                   AMENDED AND RESTATED 2000 STOCK OPTION PLAN

                     Originally Adopted as of March 16, 2000
                   Amended and Restated as of December 1, 2000

                              Union Drilling, Inc.
                        South Pittsburgh Technology Park
                              3117 Washington Pike
                         Bridgeville, Pennsylvania 15017
<PAGE>   2
                              UNION DRILLING, INC.

                   AMENDED AND RESTATED 2000 STOCK OPTION PLAN

                                Table of Contents

<TABLE>
<CAPTION>
Section                                                                  Page
<S>                                                                      <C>
 1.   Purpose                                                             1

 2.   Definitions                                                         1

 3.   Shares Subject to the Plan                                          3

 4.   Grant of Stock Options                                              3

 5.   Certificates for Stock                                              6

 6.   Beneficiary                                                         7

 7.   Administration of the Plan                                          7

 8.   Amendment or Discontinuance                                         8

 9.   Adjustment in Event of Change in Common Stock                       8

10.   Miscellaneous                                                       8

11.   Effective Date and Stockholder Approval                            10
</TABLE>
<PAGE>   3
                              UNION DRILLING, INC.
                   AMENDED AND RESTATED 2000 STOCK OPTION PLAN

1.       Purpose

         The purpose of the Union Drilling, Inc. Amended and Restated 2000 Stock
Option Plan is to attract and retain persons of ability as directors, officers
and employees of Union Drilling, Inc. and its subsidiaries and affiliates, and
encourage such directors, officers and employees to continue to exert their best
efforts on behalf of the Company and its subsidiaries and affiliates.

2.       Definitions

         When used herein, the following terms shall have the following
meanings:

         "Beneficiary" means the beneficiary or beneficiaries designated
pursuant to Section 6 who shall be entitled to exercise any Options held by the
Optionee at the time of his or her death.

         "Board" means the Board of Directors of the Company.

         "Code" means the Internal Revenue Code of 1986, as now in effect or as
hereafter amended. All citations to sections of the Code are to such sections as
they may from time to time be amended or renumbered.

         "Committee" means any committee (including, without limitation, any
Compensation Committee of the Board) that may be appointed by the Board to grant
Options hereunder and/or to administer the Plan pursuant to Section 7 hereof.

         "Company" means Union Drilling, Inc. and its successors and assigns.

         "Director" means any present or former member of the Board.

         "Employee" means an employee of any Participating Company (including a
Director or Officer, to the extent he or she is deemed an employee under common
law) who, in the judgment of the Board or the Committee, is responsible for or
contributes to the growth or profitability of the business of any Participating
Company.

         "Exchange" means the principal exchange on which the Stock is listed
or, if the Stock is not listed on an exchange, the Nasdaq Stock Market of the
National Association of Securities Dealers.

         "Exchange Act" means the Securities Exchange Act of 1934, as amended.

         "Fair Market Value" means, as of any date in issue, the closing sales
price on the Exchange of one share of Stock on such date or, if no sales of
Stock have taken place on such date, the closing sales price of one share of
Stock on the most recent date on which sales prices

<PAGE>   4
were reported on the Exchange. In the event that the Company's shares are not
publicly traded on the Exchange, the Board shall determine the fair market value
for all purposes.

         "Immediate Family Members" means children, grandchildren, spouse or
common law spouse, siblings or parents of the Optionee, or bona fide trusts,
partnerships or other entities controlled by and of which the beneficiaries are
Immediate Family Members of the Optionee.

         "Officer" means any person holding an office of the Company or of its
Board of Directors under the By-laws of the Company, whether or not a salaried
employee of any Participating Company.

         "Option" means an option to purchase Stock subject to the applicable
provisions of Section 4 and granted in accordance with the terms of the Plan and
which, in the case of an Option granted to an Employee, may be an incentive
stock option qualified under Section 422 of the Code or a nonqualified stock
option and which, in the case of an Option granted to an Optionee that is not an
Employee, shall be a nonqualified stock option.

         "Option Agreement" means any written agreement evidencing an Option
granted to a Director, an Officer or an Employee under the Plan.

         "Optionee" means a Director, Officer or Employee who has been granted
an Option under the Plan.

         "Participating Company" means the Company or any subsidiary or other
affiliate of the Company which at the time such option is granted under the plan
qualifies as a "subsidiary corporation" of the Company under the definition of
such term contained in Section 424(f) of the Code.

         "Plan" means the Union Drilling, Inc. Amended and Restated Stock 2000
Option Plan, as the same may be amended, administered or interpreted from time
to time.

         "Stock" means the common stock, $0.01 par value, of the Company.

         "Substitute Options" means Options granted in assumption of, or in
substitution for, outstanding awards previously granted by a company acquired by
the Company or any of its subsidiaries, or with which the company or any of its
subsidiaries combines.

         "Ten Percent Stockholder" means an Employee who, at the time of grant
of an Option to him or her, owns stock possessing more than 10 percent of the
total combined voting power of all classes of stock of the Company.

         "Total Disability" means the complete and permanent inability of an
Employee to perform all of his or her duties as such, as determined by the Board
or the Committee upon the basis of such evidence, including independent medical
reports and data, as the Board deems appropriate or necessary.

                                        2
<PAGE>   5
3.       Shares Subject to Plan

         (a) The aggregate number of shares of Stock which may be subject to
purchase by exercising Options granted under the Plan is 400,000 Shares, subject
to adjustment in accordance with Section 9 below. Such shares shall be made
available from either authorized and unissued shares or shares held by the
Company in its treasury. If, for any reason, any shares of Stock subject to
purchase by exercising an Option under the Plan are not delivered or are
reacquired by the Company, for reasons including, but not limited to,
termination of employment or relationship with the Company, or expiration or
cancellation with the consent of an Optionee of an Option, such shares of Stock
shall again become available under the Plan, provided, however, that for
purposes of meeting the requirements of Section 162(m) of the Code, no Employee
who is a covered employee under Section 162(m) of the Code shall receive a grant
of options in excess of the amount specified under this Section 3, computed as
if any Option which is canceled reduced the maximum number of shares of Stock
available under the Plan.

         (b) In the event that any Option granted hereunder (other than a
Substitute Option) is exercised through the delivery of shares of Stock, or in
the event that withholding tax liabilities arising from such Option are
satisfied by the withholding of shares of Stock by the Company, the number of
shares of Stock subject to purchase by exercising an Option under the Plan shall
be increased by the number of shares of Stock so surrendered or withheld.

         (c) Any shares of Stock covered by a Substitute Option shall not be
deemed to have been delivered for purposes of determining the maximum number of
shares of Stock available for delivery under the Plan.

4.       Grant of Stock Option

         (a) Subject to the provisions of the Plan, the Board or the Committee
shall (i) determine and designate from time to time those Directors, Officers
and Employees to whom Options are to be granted; (ii) determine whether such
Options shall be incentive stock options or nonqualified stock options or a
combination of incentive stock options and nonqualified stock options, (iii)
determine the number of shares of Stock subject to each Option; and (iv)
determine the time or times when and the manner in which each Option shall be
exercisable and the duration of the exercise period; provided, however, that (A)
no option which is an incentive stock option shall be granted after the
expiration of ten years from the effective date of the Plan, (B) the aggregate
Fair Market Value (determined as of the date an Option is granted) of the Stock
for which incentive stock options (including incentive stock options granted
under any other plan of the Company) granted to any Optionee under this Plan
that may first become exercisable in any calendar year shall not exceed
$100,000, and (C) the aggregate number of shares of Stock for which Options are
granted to any one participant in any one calender year shall not exceed
250,000.

         (b) The exercise period for an Option shall be no more than ten years
from the date of grant, provided, however, that, in the case of an incentive
stock option granted to a Ten Percent

                                       3
<PAGE>   6
Stockholder, such period, including extensions, shall be no more than five years
from the date of grant.

         (c) The Option exercise price per share shall be determined by the
Board at the time the Option is granted and shall be at least equal to the par
value of one share of Stock if the Stock has a par value; provided, however,
that the exercise price for an Option shall be not less than the Fair Market
Value of the Stock on the date of grant, or in the case of an incentive stock
option granted to a Ten Percent Stockholder, 110 percent of the Fair Market
Value on the date of grant, all as determined by the Board.

         (d) No part of any Option may be exercised by an Optionee until such
Director, Officer or Employee shall have (i) remained in the employ of a
Participating Company for such period as the Board or the Committee may specify,
if any, after the date on which the Option is granted, or (ii) achieved such
performance or other criteria, as the Board or the Committee may specify, if
any, and the Board or Committee may further require exercisability in
installments.

         (e)     (i) If an Employee who has been granted an Option dies while an
Employee of a Participating Company or retires, his or her Options may be
exercised, to the extent that the Employee shall have been entitled to do so on
the date of his or her death or retirement, by his or her Beneficiary in the
case of his or her death, including, if applicable, his or her executors or
administrators, at any time, or from time to time, within three months after the
date of the Employee's death or retirement or within such other period, and
subject to such terms and conditions, as the Board or the Committee may specify,
but no later than the expiration date specified in Section 4(b) above.

                 (ii) If the Employee's employment by a Participating Company
terminates because of his or her Total Disability, he or she may exercise his or
her Options, to the extent that he or she shall have been entitled to do so at
the date of the termination of his or her employment, at any time, or from time
to time, within twelve months after the date of the termination of his or her
employment or within such other period, and subject to such terms and
conditions, as the Board or the Committee may specify, but not later than the
expiration date specified in Section 4(b) above.

                 (iii) If an Employee's employment by a Participating Company
voluntarily terminates or if his or her employment terminates because of
involuntary termination of employment by the Participating Company with cause
(as determined by the Board or the Committee in its sole discretion), all
outstanding Options shall be forfeited as of the date of termination or at such
later date, and subject to such terms and conditions, as the Board or the
Committee may specify, but not later than the expiration date specified in
Section 4(b) above.

                 (iv) If an Employee's employment terminates because of
involuntary termination of employment by the Participating Company without cause
(as determined by the Board or the Committee in its sole discretion) he or she
may exercise his or her Options to the extent that he or she shall have been
entitled to do so at the date of the termination of his or her employment, at
any time, or from time to time, within three months after the date of the
termination of his or her employment, or within such other period, and subject
to such terms and conditions, as the Board

                                        4
<PAGE>   7
or the Committee may specify, but not later than the expiration date specified
in Section 4(b) above.

         (f) No Option granted under the Plan shall be transferable other than
by will or by the laws of descent and distribution or pursuant to a qualified
domestic relations order, and during the lifetime of the Optionee, an Option
shall be exercisable only by him or her; provided, however, that the Board or
the Committee, in its discretion, may allow for transferability of non-qualified
stock options by an Optionee to Immediate Family Members, provided that such
transfer of Options is not for value (within the meaning of the General
Instructions to Form S-8 of the Securities and Exchange Commission).

         (g) With respect to an incentive stock option, the Board or the
Committee shall specify such terms and provisions as the Board or the Committee
may determine to be necessary or desirable in order to qualify such Option as an
incentive stock option within the meaning of Section 422 of the Code.

         (h) Each Option granted under the Plan shall be evidenced by a written
Option Agreement or by a notice to the recipient of the grant of such Option, in
either case in a form approved by the Board or the Committee. Each Option
granted under the Plan shall be subject to the express terms and conditions, if
any, required under the Plan or as required by the Board or the Committee for
the form of Option granted and such other terms and conditions as the Board or
the Committee may specify. Further, each such Option Agreement or notice shall
provide that unless at the time of exercise of the Option there shall be, in the
opinion of counsel for the Company, a valid and effective registration statement
under the Securities Act and appropriate qualification and registration under
applicable state securities laws relating to the Stock being acquired pursuant
to the Option, the Optionee shall upon exercise of the Option give a
representation that he or she is acquiring such shares for his or her own
account for investment and not with a view to, or for sale in connection with,
the resale or distribution of any such shares. In the absence of such
registration statement, the Optionee shall be required to execute a written
affirmation, in a form reasonably satisfactory to the Company, of such
investment intent and to further agree that he or she will not sell or transfer
any Stock acquired pursuant to the Option until he or she requests and receives
an opinion of counsel satisfactory to the Company to the effect that such
proposed sale or transfer will not result in a violation of the Securities Act,
or a registration statement covering the sale or transfer of the shares has been
declared effective by the Securities and Exchange Commission, or he or she
obtains a no-action letter from the Securities and Exchange Commission with
respect to the proposed transfer.

         (i) Except as otherwise provided in the Plan, the purchase price of the
shares as to which an Option shall be exercised shall be paid to the Company at
the time of exercise either in cash or in Stock already owned by the Optionee,
or a combination of cash and Stock, or in such other consideration acceptable to
the Board or the Committee (including, to the extent permitted by applicable
law, the relinquishment of a portion of the Option) as the Board or the
Committee deems appropriate, having a total Fair Market Value equal to the
purchase price. For purposes of this Section 4(i), the fair market value of the
portion of an Option that is relinquished shall be the excess of

                                        5
<PAGE>   8
                 (x)      the Fair Market Value at the time of exercise of the
                          number of shares of Stock subject to the portion of
                          the Option that is relinquished over

                 (y)      the aggregate exercise price specified in the Option
                          with respect to such shares.

5.       Certificates for Stock

         (a) Each Optionee, upon the exercise of an Option granted under the
Plan, shall be issued a certificate for the shares of Stock purchased through
such exercise. Such certificate shall be registered in the name designated by
the Optionee.

         (b) The Company shall not be required to issue or deliver any
certificates for shares of Stock prior to (i) the listing of such shares on any
Exchange on which the Stock may then be listed or (ii) the completion of any
registration or qualification of such shares under any federal or state law, or
any ruling or regulation of any governmental body, which the Board or the
Committee shall, in its sole discretion, determine to be necessary or advisable.

         (c) All certificates for shares of Stock delivered under the Plan shall
also be subject to such stop-transfer orders and other restrictions as the Board
or the Committee may deem advisable under the rules, regulations, and other
requirements of the Securities and Exchange Commission, any stock exchange upon
which the Stock is then listed and any applicable federal or state securities
laws, and the Board or the Committee may cause a legend or legends to be placed
on any such certificates to make appropriate reference to such restrictions. The
foregoing provisions of this Section 5(c) shall not be effective if and to the
extent that the shares of Stock delivered under the Plan are covered by an
effective and current registration statement under the Securities Act, or if,
and so long as, the Board or the Committee determines that application of such
provisions is no longer required or desirable. In making such determination, the
Board or the Committee may rely upon an opinion of counsel for the Company.

         (d) Each Optionee who receives shares of Stock upon exercise of an
Option shall have all of the rights of a stockholder, including the right to
vote the shares and receive dividends and other distributions, from the date of
issuance to him or her of a certificate or certificates for such shares. No
Optionee granted an Option shall have any right as a stockholder with respect to
any shares subject to such Option prior to the date of issuance to him or her of
a certificate or certificates for such shares.

         (e) Each Optionee who receives Stock upon exercise of an Option that is
an incentive stock option shall give the Company prompt notice of any sale of
such Stock prior to the expiration of any applicable holding period for
incentive stock options prescribed by the Code, which holding period is
currently until the later of (i) two years after the grant of such Option or
(ii) one year after the date of such exercise.

                                        6
<PAGE>   9
6.       Beneficiary

         (a) Each Optionee shall file with the Company a written designation of
one or more persons as the Beneficiary who shall be entitled to exercise any
Options held by the Optionee at the time of his or her death. An Optionee may
from time to time revoke or change his or her Beneficiary designation without
the consent of any prior Beneficiary by filing a new designation with the
Company. The last such designation received by the Company shall be controlling;
provided, however, that no designation, or change or revocation thereof, shall
be effective unless received by the Company prior to the Optionee's death, and
in no event shall it be effective as of a date prior to such receipt.

         (b) If no such Beneficiary designation is in effect at the time of an
Optionee's death, or if no designated Beneficiary survives the Optionee, or if
such designation conflicts with law, the Optionee's estate shall be entitled to
exercise any Options held by the Optionee at the time of the Optionee's death.
If the Company is in doubt as to the right of any person to exercise such
Options, the Company may suspend the right to exercise such Option, without
liability, until the Company determines the rights thereto, or the Company may
transfer such Option into any court of appropriate jurisdiction and such
transfer shall be a complete discharge of the liability of the Company therefor.

7.       Administration of the Plan

         (a) The Plan shall be administered by the Board or by any committee
(including, without limitation, any Compensation Committee of the Board) as may
be appointed by the Board for the purpose of granting Options hereunder and/or
otherwise administering the Plan.

         (b) All decisions, determinations or actions of the Board or the
Committee made or taken pursuant to grants of authority under the Plan shall be
made or taken in the sole discretion of the Board or the Committee and shall be
final, conclusive and binding on all persons for all purposes.

         (c) The Board or the Committee shall have full power, discretion and
authority to interpret, construe and administer the Plan and any part thereof,
and its interpretations and constructions thereof, and actions taken thereunder
shall be, except as otherwise determined by the Board, final, conclusive and
binding on all persons for all purposes.

         (d) The Board's or the Committee's decisions and determinations under
the Plan need not be uniform and may be made selectively among Directors,
Officers and Employees, whether or not such Directors, Officers and Employees
are similarly situated.

         (e) The act of a majority of the members of the Board or the Committee
(as the case may be) present at a meeting of the Board or the Committee (as the
case may be) duly called and held shall be the act of the Board or the Committee
(as the case may be). Any decision or determination reduced to writing and
signed by all members of the Board or the Committee shall be as fully effective
as if made by unanimous vote at a meeting duly called and held.

                                        7
<PAGE>   10
8.       Amendment or Discontinuance

         The Board may, at any time and for any reason, amend or terminate the
Plan. No amendment or termination shall retroactively impair the rights of any
person with respect to an Option.

9.       Adjustment in Event of Change in Common Stock

         (a) Subject to Section 9(b), if the outstanding shares of Stock of the
Company are increased, decreased, or exchanged for a different number or kind of
shares or other securities, or if additional shares or new or different shares
or other securities are distributed with respect to such shares of Stock or
other securities, through merger, consolidation, sale of all or substantially
all of the property of the Company, reorganization, recapitalization,
reclassification, stock dividend, stock split, reverse stock split or other
distribution with respect to such shares of Stock or other securities, an
appropriate and proportionate adjustment shall be made in (i) the maximum number
and kind of shares provided in Section 3 and in clause C of Section 4(a), (ii)
the number and kind of shares or other securities subject to the outstanding
Options, and (iii) the price for each share or other unit of any other
securities subject to outstanding Options without change in the aggregate
purchase price or value as to which such Options remain exercisable or subject
to restrictions. Any adjustment under this Section 9(a) will be made by the
Board or the Committee, whose determination as to what adjustments will be made
and the extent thereof will be final, binding and conclusive. No fractional
interests will be issued under the Plan resulting from any such adjustment.

         (b) Notwithstanding anything else herein to the contrary, the Board or
the Committee, in its sole discretion at the time of grant of an Option or
otherwise may, in an Option Agreement, in a notice of the grant of an Option or
otherwise, provide that, with an Optionee's consent, upon the occurrence of
certain events, including a change in control of the Company (as determined by
the Board), any outstanding Options not theretofore exercisable shall
immediately become exercisable in their entirety and that any such Option may be
purchased by the Company for cash at a price to be determined by the Board.

10.      Miscellaneous

         (a) Nothing in this Plan or any Option Agreement entered into or notice
of grant given pursuant hereto shall confer upon any employee any right to
continue in the employ of any Participating Company or interfere in any way with
the right of any Participating Company to terminate his or her employment at any
time.

         (b) No Option granted under the Plan shall be deemed salary or
compensation for the purpose of computing benefits under any employee benefit
plan or other arrangement of any Participating Company for the benefit of its
employees unless the Company shall determine otherwise.

                                        8
<PAGE>   11
         (c) No person shall have any claim to an Option until it is actually
granted under the Plan. To the extent that any person acquires a right to
receive payments from the Company under this Plan, such right shall be no
greater than the right of an unsecured general creditor of the Company.

         (d) Absence on leave approved by a duly constituted officer of a
Participating Company shall not be considered interruption or termination of
employment for any purposes of the Plan; provided, however, that no Option that
is an incentive stock option may be granted to an employee while he or she is
absent on leave.

         (e) If the Board or the Committee shall find that any person to whom
any Option, or portion thereof, is granted under the Plan is unable to care for
his or her affairs because of illness or accident, or is a minor, then any
payment due him or her (unless a prior claim therefor has been made by a duly
appointed legal representative) may, if the Board or the Committee so directs
the Company, be paid to his or her spouse, a child, a relative, an institution
maintaining or having custody of such person deemed by the Board or the
Committee to be a proper recipient on behalf of such person otherwise entitled
to payment. Any such payment shall be a complete discharge of the liability of
the Company therefor.

         (f) The right of any Optionee or other person to any Option or Stock
under the Plan may not be assigned, transferred, pledged or encumbered, except
as provided herein or as may otherwise be required by law. If, by reason of any
attempted assignment, transfer, pledge, or encumbrance or any bankruptcy or
other event happening at any time, any amount payable under the Plan would be
made subject to the debts or liabilities of the Optionee or his or her
Beneficiary or would otherwise devolve upon anyone else and not be enjoyed by
the Optionee or his or her Beneficiary, then the Board or the Committee may
terminate such person's interest in any such payment and direct that the same be
held and applied to or for the benefit of the Optionee, his or her Beneficiary
or any other persons deemed to be the natural objects of his or her bounty,
taking into account the expressed wishes of the Optionee (or, in the event of
his or her death, those of his or her Beneficiary) in such manner as the Board
or the Committee may deem proper.

         (g) Copies of the Plan and all amendments, administrative rules and
procedures and interpretations shall be made available to all Optionees at all
reasonable times at the Company's headquarters.

         (h) The Board or the Committee may cause to be made, as a condition
precedent to the grant of any Option, or otherwise, appropriate arrangements
with the Optionee or his or her Beneficiary, for the withholding of any federal,
state, local or foreign taxes.

         (i) The Plan and the grant of Options shall be subject to all
applicable federal and state laws, rules, and regulations and to such approvals
by any government or regulatory agency as may be required.

         (j) All elections, designations, requests, notices, instructions and
other communications from an Optionee, Beneficiary or other person to the Board
or the Committee,

                                        9
<PAGE>   12
required or permitted under the Plan, shall be in such form as is prescribed
from time to time by the Board or the Committee and shall be mailed by first
class mail or delivered to such location as shall be specified by the Board or
the Committee in an Option Agreement, a notice of grant or otherwise.

         (k) The terms of the Plan shall be binding upon the Company and its
successors and assigns.

         (l) Captions preceding the sections hereof are inserted solely as a
matter of convenience and in no way define or limit the scope or intent of any
provision hereof.

11.      Effective Date and Stockholder Approval

         The original effective date of the Plan was March 16, 2000, subject to
approval by the Company's stockholders, which approval was obtained on March 16,
2000. The effective date of the amendment and restatement of the Plan shall be
December 1, 2000, subject to approval by the Company's stockholders.
Notwithstanding anything in the Plan to the contrary, Options may be granted as
provided herein on the effective date of the amendment and restatement of the
Plan or at any time thereafter subject to such subsequent stockholder approval.
If the amendment and restatement of the Plan is not approved by the Company's
stockholders within the time required by the Code, the amendment and restatement
of the Plan and all Options granted hereunder that could not have been granted
pursuant to the terms and conditions of the Plan as originally adopted shall
thereupon become null and void; provided, that, irrespective of any failure to
obtain requisite stockholder approval of the amendment and restatement of the
Plan within the time prescribed by the Code, any and all Options granted prior
to the date hereof or after the date hereof, in either case, in accordance with
the terms and conditions of the Plan as originally adopted and approved by the
stockholders, shall be or remain (as the case may be) duly and validly issued.

                                       10

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