Document:

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                                                                     Exhibit 4.4

                                 FIRST AMENDMENT
                                     to the
                                   IXNET, INC.
                             1999 STOCK OPTION PLAN

        Pursuant to a resolution of the Board of Directors ("Board") of IXnet,
Inc. (the "Corporation") adopted in connection with the approval by the Board of
the Agreement and Plan of Merger dated as of February 22, 2000 among Global
Crossing Ltd., Georgia Merger Sub Corporation, IPC Communications, Inc., IPC
Information Systems, Inc., Idaho Merger Sub Corporation, and the Corporation,
the IXnet, Inc. Stock Option Plan (the "Plan"), the Plan has been amended
effective February 22, 2000, as follows:

        1.      The following is added to the end of Section 5(c) of the Plan:

                "Notwithstanding the above,

                (i)     only 25% of the number of Options held by any individual
                        signatory to the Agreement dated as of February 22, 2000
                        among Global Crossing Ltd. ("Global Crossing"), IPCC,
                        the Corporation and fourteen (14) individual signatories
                        (each, a "Holder") ("Option Limitation Agreement," a
                        copy of which shall be appended to this Plan as Appendix
                        A hereto), determined in the order in which such Options
                        otherwise would vest, will become vested upon the Change
                        in Control (as defined herein) arising in connection
                        with the transaction set forth in the Agreement and Plan
                        of Merger Dated as of February 22, 2000, among Global
                        Crossing, Georgia Merger Sub Corporation, IPC, IPCC,
                        Idaho Merger Sub Corporation, and the Corporation
                        ("Merger Agreement");

                (ii)    such Change in Control shall not constitute an event
                        requiring vesting with respect to the remaining Options
                        held by such Holders;

                (iii)   all Options, both vested and unvested, held by such
                        Holders at the time of the Mergers (as such term is
                        defined in the Merger Agreement) shall be converted into
                        options to acquire shares of common stock of Global
                        Crossing ("Rollover Options"), upon the terms and
                        conditions set forth in the Merger Agreement;

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                (iv)    all Rollover Options held by a Holder that do not vest
                        in accordance with (i) above, shall vest over a three
                        (3) year period, as follows: one third on the first
                        anniversary of the Closing Date (as such term is defined
                        in the Merger Agreement); one third on the second
                        anniversary of the Closing Date; and one third on the
                        third anniversary of the Closing Date; and

                (v)     in the event of the death or Disability (as defined in
                        the IPC Communications, Inc. 1999 Stock Incentive Plan)
                        of a Holder, or in the event of the termination of the
                        Holder's employment without Cause (as defined herein) or
                        by the Holder for Good Reason (as such term is defined
                        in the IXnet Option Plan Grant Certificate for Executive
                        Officers, except for such changes as are necessitated by
                        reason of the Corporation, IPC or IPCC no longer being a
                        publicly held company) or in the event of a change in
                        control (as such term is defined in the standard option
                        agreement for executive officers issued under the 1998
                        Global Crossing Ltd. Stock Incentive Plan as Amended and
                        Restated as of December 7, 1999), all of the Holder's
                        Rollover Options shall immediately vest and become
                        exercisable, and the transfer restriction set forth in
                        Paragraph 4 of the Option Limitation Agreement annexed
                        hereto as Appendix A shall cease to apply to such
                        Holder."

2.      The following is added to the end of Section 5(d) of the Plan:

        "Notwithstanding the above, 25% of Options held (i) by a person who is
        not a Holder (as defined in Section 5(c)(i) hereof) or (ii) by William
        Adiletta or Richard Farrell shall become exercisable upon the Change in
        Control (as defined herein, except that for purposes of this sentence,
        clause (v) of the definition of "Change in Control" shall not apply)
        arising in connection with the transaction set forth in the Merger
        Agreement (as defined in Section 5(c)(i) hereof)."<PAGE>

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<S>                                             <C>

    COMMON STOCK                                 INCORPORATED UNDER THE LAWS
                                                   OF THE STATE OF DELAWARE

THIS CERTIFICATE IS TRANSFERRABLE IN                   CUSIP 860831 10 6
  NEW YORK, NY OR KANSAS CITY, MO            SEE REVERSE FOR CERTAIN DEFINITIONS

     PAR VALUE                                          RIGHTS ATTACHED
  $0.01 PER SHARE                                   TO THIS CERTIFICATE ARE
                                                      DESCRIBED ON REVERSE
</TABLE>

                             STILWELL FINANCIAL INC.

           FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK OF

Stilwell Financial Inc., transferable in person or by duly authorized attorney
upon surrender of this Certificate properly endorsed. This Certificate and the
shares represented hereby are subject to all the terms, conditions and
limitations of the Certificate of Incorporation and all amendments thereto. This
Certificate is not valid until countersigned by the Transfer Agent and
registered by the Registrar.

     Witness the seal of the Corporation and the signatures of its duly
authorized officers.

DATED:                             COUNTERSIGNED AND REGISTERED:
                                                      UMB BANK, N.A.
                                                  (Kansas City, Missouri)
                                                                TRANSFER AGENT
                                                                AND REGISTRAR

                                   BY:
      PRESIDENT         SECRETARY                           AUTHORIZED SIGNATURE
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                           STILWELL FINANCIAL INC.

THE CORPORATION WILL FURNISH, WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO
REQUESTS, A STATEMENT OF THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE,
PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OR SERIES
THEREOF OF THE CORPORATION, SO FAR AS THE SAME HAVE BEEN DETERMINED, AND THE
QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS.
SUCH REQUEST MAY BE MADE TO THE CORPORATION AT THE PRINCIPAL EXECUTIVE OFFICES
OF STILWELL FINANCIAL INC. OR TO THE TRANSFER AGENT.

The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<S>       <C>
TEN COM - as tenants in common UNIF GIFT/TRANS MIN ACT - ________ Custodian for________
TEN ENT - as tenants by the entireties                    (Cust)                (Minor)
JT TEN  - as joint tenants with right of       under Uniform Gifts/Transfers to Minors
          survivorship and not as tenants      Act of ______________
          in common                                      (State)
          Additional abbreviations may also be used though not in the above list
                             --------------------------------
</TABLE>
INSTRUCTIONS FOR ASSIGNMENT: THE SIGNATURE OF THE STOCKHOLDER TO THE ASSIGNMENT
MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN
EVERY PARTICULAR WITHOUT ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATEVER.

         For value received, ____________________ hereby sell, assign and
transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
         IDENTIFYING NUMBER OF ASSIGNEE

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

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PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

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___________________________________________________________ Shares of the
capital stock represented by the within Certificate, and do hereby irrevocably
constitute and appoint ___________________________________________
________________________________________________________________________
Attorney to transfer the said stock on the books of the Corporation with
full power of substitution in the premises.
Dated, ______________________
                                                  X ___________________________

        NOTICE: THE SIGNATURE(S) TO THIS
        ASSIGNMENT MUST CORRESPOND WITH
        THE NAME(S) AS WRITTEN UP ON THE         X ___________________________
        FACE OF THE CERTIFICATE IN EVERY
        PARTICULAR, WITHOUT ALTERATION OR
        ENLARGEMENT OR ANY CHANGE
        WHATEVER.

This certificate also evidences and entitles       -----------------------------
the holder hereof to certain Rights as set          THE SIGNATURE(S) MUST BE
forth in a Rights Agreement between Stilwell        GUARANTEED BY AN ELIGIBLE
Financial, Inc. and UMB Bank, N.A. (the "Rights     GRANTOR INSTITUTION
Agreement"), the terms of which are hereby          PURSUANT TO S.E.C. NOTE
incorporated herein by reference and a copy of      17AD-15.
which is on file at principal executive offices    -----------------------------
of Stilwell Financial, Inc. Under certain           Signature(s) guaranteed by:
circumstances, as set forth in the Rights
Agreement, such Rights may be redeemed, may
expire or may be evidenced by separate
certificates and will no longer be evidenced by
this certificate. Under certain circumstances,
Rights issued to, or which are or were
beneficially owned by, Acquiring Persons or
their Affiliates or Associates (as such terms
are defined in the Rights Agreement) and any
subsequent holder of such Rights may become null
and void. In addition, Rights held by Persons
other than an Acquiring Person may not be
transferred to an Acquiring Person or certain
other Persons.

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