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EXHIBIT 4.1    
  

 
 

Flexible Stock Incentive Plan    
  

	1.
	ESTABLISHMENT,
PURPOSE, AND DEFINITIONS. 

        a.    There
is hereby adopted the Flexible Stock Incentive Plan (the "Plan") of Indigo N.V. (the "Company"). 

        b.    The
purpose of the Plan is to provide a means whereby eligible individuals (as defined in paragraph 4 below) can acquire Common Stock of the Company (the "Stock").
The plan provides employees (including officers and directors who are employees) of the Company and of its Affiliates (as hereinafter defined) an opportunity to purchase shares of Stock pursuant to
options. The Plan also provides for the sale or bonus of Stock to eligible individuals in connection with the performance of services for the Company or its Affiliates. Moreover, the Plan authorizes
the grant of stock appreciation rights ("SARs"), either separately or in tandem with stock options, entitling holders to cash compensation measured by appreciation in the value of the Stock. Options
may be granted either on the basis of past or future services ("Service Options") or on the basis of performance ("Performance Options"). The Plan also allows for sub-plans with respect to
the Company or an Affiliate, or with respect to citizens or residents of one or more countries, provided the sub-plan is no less restrictive than the Plan. 

        c.    The
term "Affiliates" as used in the Plan means parent or subsidiary corporations of the Company and of Indigo Ltd., a Bermuda company ("Indigo Ltd."),
including parents or subsidiaries which become such after adoption of the Plan. 

	2.
	ADMINISTRATION
OF THE PLAN 

        a.    The
Plan shall be administered by the Supervisory Board of the Company (the "Board"). The Board may delegate the responsibility for administering the Plan to a committee,
under such terms and conditions as the Board shall determine (the "Committee"). The Committee shall include representatives of a Managing Director of the Company and an officer or director of
Indigo Ltd. Members of the Committee shall serve at the pleasure of the Board. The Committee shall select one of its members as chairman, and shall hold meetings at such times and places as it
may determine. A majority of the Committee shall constitute a quorum and acts of the Committee at which a quorum is present, or acts reduced to or approved in writing by all the members of the
Committee, shall be the valid acts of the Committee. If the Board does not delegate administration of the Plan to the Committee, then each reference in this Plan to "the Committee" shall be construed
to refer to the Board. No member of the Board or the Committee shall be liable to any person for any action, determination or inaction with respect to the Plan which is taken or made in good faith. 

        b.    In
the event that the Company becomes subject to the requirements of Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended
("Rule 16b-3"), then, notwithstanding the provisions of Section 2(a) hereof, (i) the Committee shall consist of two or more members of the Board or such lesser number
of members of the Board as permitted by Rule 16b-3 and (ii) none of the members of the Committee shall receive, while serving on the Committee, or during the
one-year period preceding appointment to the Committee, a grant or award of equity securities under (a) the Plan or (b) any other plan of the Company or its Affiliates under
which the participants are entitled to acquire Stock (including restricted Stock), stock options, stock bonuses, related rights or stock appreciation rights of the Company or any of its Affiliates,
other than pursuant to transactions in any such other plan which do not disqualify a director from being a disinterested person under Rule 16b-3. The limitations set forth in this
Section 2(b) shall automatically incorporate any additional requirements that may in the future be necessary for the Plan to comply with Rule 16b-3. 

8

 

        c.    The
Committee shall determine which eligible individuals (as defined in paragraph 4, below) shall be granted options under the Plan, the timing of such grants, the
terms thereof (including any restrictions on the Stock), and the number of shares subject to such options. 

        d.    The
Committee may amend the terms of any outstanding option granted under this Plan, but any amendment which would adversely affect the optionee's rights under an
outstanding option shall not be made without the optionee's written consent. The Committee may, with the optionee's written consent, cancel any outstanding stock option or accept any outstanding stock
option in exchange for a new option. 

        e.    The
Committee shall also determine which eligible individuals (as defined in paragraph 4, below) shall be issued Stock or SARs under the Plan, the timing of such
grants, the terms thereof (including any restrictions), and the number of shares or SARs to be granted. The Stock shall be issued for such consideration (if any) as the Committee deems appropriate.
Stock issued subject to restrictions shall be evidenced by a written agreement (the "Restricted Stock Purchase Agreement" or the "Restricted Stock Bonus Agreement"). The Committee may amend any
Restricted Stock Purchase Agreement, but any amendment which would adversely affect the individual's rights to the Stock shall not be made without his or her written consent. 

        f.      The
Committee shall have the sole authority, in its absolute discretion to adopt, amend, and rescind such rules and regulations as, in its opinion, may be advisable in
the administration of the Plan, to construe and interpret the Plan, the rules and the regulations, and the instruments evidencing options or Stock granted under the Plan, and to make all other
determinations deemed necessary Or advisable for the administration of the Plan. All decisions, determinations, and interpretations of the committee shall be binding on all participants. 

	3.
	STOCK
SUBJECT TO THE PLAN. 

        a.    An
aggregate of not more than 19,315 (386,300 after a proposed 20-to-1 stock split) shares of Stock shall be available for the grant of Stock
Options or the issuance of Stock or SARs under the Plan, of which not more than 10,315 (206,300 after a proposed 20-to-1 stock split) may be for Service Options and Stock and
stock appreciation rights granted on the basis of past or present service and not more than 9,000 (180,000 after a proposed 20-to-I stock split) may be for Performance Options
and Stock and stock appreciation rights granted on the basis of performance. If an option is surrendered (except surrender for shares of Stock) or for any other reason ceases to be exercisable in
whole or in part, the shares which were subject to such option but as to which the option had not been exercised shall continue to be available under the Plan. 

        b.    If
there is any change in the Stock subject to the Plan, the Stock subject to a Restricted Stock Purchase Agreement or Restricted Stock Bonus Agreement or an SAR
Agreement, or the Stock subject to any option granted under the Plan, through merger, consolidation, reorganization, recapitalization, reincorporation, stock split, stock dividend (in excess of two
percent), or other change in the corporate structure of the Company, appropriate adjustments shall be made by the Committee in order to preserve but not to increase the benefits to the individual,
including adjustments to the aggregate number and kind of shares subject to the Plan, or to a Restricted Stock Purchase Agreement, Restricted Stock Bonus Agreement, or a SAR Agreement, and the number
and kind of shares and the price per share subject to outstanding options. 

	4.
	ELIGIBLE
INDIVIDUALS 

        Individuals
who shall be eligible to have granted to them the options or Stock provided for by the Plan shall be such employees, including officers and directors who are employees of the
Company or an Affiliate, as the Committee, in its discretion, shall designate from time to time. 

9

 

	5.
	THE
OPTION PRICE. 

        The
exercise price of the Stock covered by each stock option shall be as determined by the Committee, provided that in no case shall the joint exercise price of any paired Company option
and Indigo Ltd. option be less than 80% of the Common Stock Value at the time of issuance of such paired options ("Date of Grant"). The "Common Stock Value" at any time shall be equal to the
then current fair market value of the Company Common Stock and the Indigo Ltd. Common Stock, as determined by the Committee and agreed to by the Investor Representative, if any, appointed under
section 3(g) of the Stock Purchase Agreement (the "Stock Purchase Agreement") by and among Spectrum Sciences N.V., Spectrum Sciences Ltd. and S-C Indigo CV and dated as of
February 25, 1993 (the "Investor Representative"). If the Committee and the Investor Representative are unable to agree on the fair market value, then the fair market value shall be determined
by an independent valuation expert satisfactory to the Committee and the Investor Representative. The fair market value as determined by such independent valuation expert shall be conclusive. The
exercise price of an option shall be subject to adjustment to the extent provided in paragraph 3(b) above. 

	6.
	TERMS
AND CONDITIONS OF OPTIONS. 

        a.    Each
option granted pursuant to the Plan will be evidenced by a written Stock Option Agreement executed by the Company and the person to whom such option is granted, the
terms of which shall be determined by the Committee subject to the terms of the Plan. 

        b.    The
Committee shall determine the term of each option granted under the Plan; provided, however, that the term of an option shall not be for more than 10 years. 

        c.    Upon
termination of employment (regardless of whether or not termination is by the employee or employer or for cause), all unvested options shall lapse. Upon termination
of employment (regardless of whether or not termination is by the employee or employer or for cause) and at the option of the Company, (i) vested options may be repurchased by the Company if
permitted by, and pursuant to the terms of, an applicable Stock Option Agreement and (ii) prior to the IPO, Stock may be purchased (in whole or in part) by the Company at a purchase price equal
to the then fair market value (as determined by the Committee) of the Stock. 

        d.    The
Service Options will vest over a four-year period. Individuals who were employees of the Company prior to January 1, 1993, will be vested in a
percentage of Service Options as of the Date of Grant based upon the number of full years of employment prior to the Date of Grant based upon the following schedule: 

	Number of

Full Years
	 	Percentage Vested on

Date of Grant

	Less than 5	 	25%
	5 to 9	 	40%
	10 to 14	 	50%
	15+	 	55%

        Service
Options not vested on the Date of Grant will vest in equal amounts on the first three annual anniversaries of the Date of Grant for employees hired before January 1, 1993.
For employees hired on or after January 1, 1993, 25% of Service Options will vest in the first four annual anniversaries of the Date of Grant. Notwithstanding the foregoing, the Committee may
determine different vesting schedules in special circumstances. 

        Performance
Options will vest over a period of years in relation to the achievement by the Company and its Affiliates of earnings targets to be determined by the Board, with partial
vesting on a sliding scale as determined by the Board. Notwithstanding the foregoing, all non-vested Performance Options shall vest eight years and eleven months following the Date of
Grant. 

10

 

        e.    The
Stock Option Agreement may contain such other terms, provisions, and conditions as may be determined by the Committee (not inconsistent with this Plan). 

	7.
	TERMS
AND CONDITIONS OF STOCK PURCHASE AND BONUS 

        a.    Each
sale or grant of stock pursuant to the Plan will be evidenced by either a written Restricted Stock Purchase Agreement executed by the Company and the person to whom
such stock is sold or a written Restricted Stock Bonus Agreement executed by the Company and the person to whom such stock is granted. 

        b.    The
Restricted Stock Purchase Agreement or Restricted Stock Bonus Agreement may contain such other terms, provisions, and conditions as may be determined by the Committee
(not inconsistent with this Plan), including not by way of limitation, restrictions on transfer, forfeiture provisions, repurchase provisions, and vesting provisions. 

	8.
	TERMS
AND CONDITIONS OF SARS. 

        The
Committee may, under such terms and conditions as it deems appropriate, authorize the issuance of SARs evidenced by a written SAR agreement (which, in the case of tandem options, may
be part of the option agreement to which the SAR relates) executed by the Company and the person to whom such SAR is granted. The SAR agreement may contain such terms, provisions and conditions as may
be determined by the Committee and which are not inconsistent with this Plan. 

	9.
	USE
OF PROCEEDS. 

        Cash
proceeds realized from the sale of Stock under the Plan or pursuant to options granted under the Plan shall constitute general funds of the Company. 

	10.
	AMENDMENT,
SUSPENSION, OR TERMINATION OF THE PLAN. 

        a.    The
Board may at any time amend, suspend or terminate the Plan as it deems advisable; provided that such amendment, suspension or termination complies with all applicable
legal requirements, including any applicable requirement that the Plan or an amendment to the Plan be approved by the shareholders, and provided further that, except as provided in
paragraph 3(b), above, the Board shall in no event amend the Plan in the following respects without the consent of stockholders then sufficient to approve the Plan in the first instance: 

        (i)    To
increase the maximum number of shares subject to stock options issued under the Plan; or 

        (ii)  To
change the designation or class of persons eligible to receive stock options under the Plan. 

        b.    No
option may be granted under the Plan during any suspension or after the termination of the Plan, and no amendment, suspension, or termination of the Plan shall,
without the affected individual's consent, alter or impair any rights or obligations under any option previously granted under the Plan. The Plan shall terminate with respect to the grant of stock
options on September 6, 2003, unless previously terminated by the Board pursuant to this paragraph 10. 

	11.
	ASSIGNABILITY.

        Each
option granted pursuant to this Plan shall, during optionee's lifetime, be exercisable only by him or her, and neither the option nor any right hereunder shall be transferable by
optionee, by operation of law or otherwise, other than by will or the laws of descent and distribution. Stock subject to a Restricted Stock Purchase Agreement or a Restricted Stock Bonus Agreement
shall be transferable only as provided in such Agreement. 

11

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EXHIBIT 4.1

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Exhibit 4.2    
  

 
 

Indigo N.V. 1996 International Flexible Stock Incentive Plan    
  

	1.
	Establishment,
Purpose, and Definitions.

	a.
	There
is hereby adopted the 1996 International Flexible Stock Incentive Plan (the "Plan") of Indigo N.V. (the "Company").

	b.
	The
purpose of the Plan is to provide a means whereby eligible individuals (as defined in paragraph 4 below) can acquire Common Stock of the Company (the "Stock"). The Plan
provides employees (including part-time and potential employees), officers and directors (including potential officers and directors), consultants and advisors (collectively, the "Eligible
Individuals") of the Company or of its Affiliates (as hereinafter defined) an opportunity to purchase shares of Stock pursuant to options (the "Options"). The Plan also provides for the sale or bonus
of Stock to Eligible Individuals in connection with the performance of services for the Company or its Affiliates. Moreover, the Plan authorizes the grant of stock appreciation rights ("SARs"), either
separately or in tandem with Options, entitling holders to cash compensation measured by appreciation in the value of the Stock. Options may be granted either on the basis of past or future services
("Service Options") or on the basis of performance ("Performance Options"). The Plan also allows for sub-plans with respect to the Company or an Affiliate, or with respect to citizens or
residents of one or more countries, provided the sub-plan is no less restrictive than the Plan.

	c.
	The
term "Affiliates", as used in the Plan, means parent or subsidiary corporations of the Company, including parents or subsidiaries that become such after adoption of the Plan. 

	2.
	Administration
of the Plan

	a.
	The
Plan shall be administered by the Supervisory Board of the Company (the "Board"). The Board may delegate the responsibility for administering the Plan to a committee (the
"Committee") under such terms and conditions as the Board shall determine. Members of the Committee shall serve at the pleasure of the Board. The Committee shall select one of its members as chairman,
and shall hold meetings at such times and places as it may determine. A majority of the Committee shall constitute a quorum, and acts of the Committee at which a quorum is present, or acts reduced to
or approved in writing by all the members of the Committee, shall be the valid acts of the Committee. If the Board does not delegate administration of the Plan to the Committee, then each reference in
this Plan to "the Committee" shall be construed to refer to the Board. No member of the Board or the Committee shall be liable to any person for any action, determination or inaction with respect to
the Plan that is taken or made in good faith.

	b.
	In
the event that the Company becomes subject to the requirements of Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended
("Rule 16b-3"), then, notwithstanding the provisions of Section 2(a) hereof, (i) the Committee shall consist of two (2) or more members of the Board or such
lesser number of members of the Board as permitted by Rule 16b-3 and (ii) none of the members of the Committee shall receive, while serving on the Committee, or during the
one-year period preceding appointment to the Committee, a grant or award of equity securities under (a) the Plan or (b) any other plan of the Company or its Affiliates under
which the participants are entitled to acquire Stock (including restricted Stock), Options, stock bonuses, related rights or stock appreciation rights of the Company or any of its Affiliates, other
than pursuant to transactions in any such other plan which do not disqualify a director from being a disinterested person under Rule 16b-3. 

12

 

The
limitations set forth in this Section 2(b) shall automatically incorporate any additional requirements that may, in the future, be necessary for the Plan to comply with
Rule 16b-3. 

	c.
	The
Committee shall determine and designate, in the manner described in paragraph 4 below, which Eligible Individuals (as defined in paragraph 1(b) above) shall be
granted Options under the Plan, the timing of such grants, the terms thereof (including any restrictions on the Stock), and the number of shares subject to such Options.

	d.
	The
Committee may amend the terms of any outstanding Option granted under this Plan, but any amendment that would adversely affect the Optionee's rights under an outstanding Option
shall not be made without the Optionee's written consent. The Committee may, with the Optionee's written consent, cancel any outstanding Option or accept any outstanding Option in exchange for a new
Option.

	e.
	The
Committee shall also determine and designate, in the manner described in paragraph 4 below, which Eligible Individuals shall be issued Stock or SARs under the Plan, the
timing of such issuance,
the terms thereof (including any restrictions), and the number of Stock or SARs to be issued. The Stock shall be issued for such consideration (if any) as the Committee deems appropriate. Stock issued
subject to restrictions shall be evidenced by a written agreement (the "Restricted Stock Purchase Agreement" or the "Restricted Stock Bonus Agreement"). The Committee may amend any Restricted Stock
Purchase Agreement, but any amendment which would adversely affect the individual's rights to the Stock shall not be made without his or her written consent.

	f.
	In
its administration of the Plan, The Committee shall have the sole authority, in its absolute discretion, (i) to adopt, amend, and rescind such rules and regulations as, in
its opinion, may be advisable, (ii) to construe and interpret the Plan, the rules and the regulations, and the instruments evidencing Options, Stock or SARs granted under the Plan, and
(iii) to make all other determinations deemed necessary or advisable for the administration of the Plan. All decisions, determinations, and interpretations of the Committee shall be binding on
all participants. 

	3.
	Stock
Subject to the Plan.

	a.
	An
aggregate of not more than 1,500,000 shares of Stock shall be available for the grant of Options, Stock or SARs under the Plan. If an Option is surrendered (except if such surrender
is for shares of Stock), or for any other reason ceases to be exercisable in whole or in part, the shares that were subject to such Option but as to which the Option had not been exercised shall
continue to be available under the Plan.

	b.
	If
there is any change in the Stock subject to the Plan, the Stock subject to a Restricted Stock Purchase Agreement, Restricted Stock Bonus Agreement or an SAR Agreement, or the Stock
subject to any Option granted under the Plan, through merger, consolidation, reorganization, recapitalization, reincorporation, stock split, stock dividend (in excess of two percent), or other change
in the corporate structure of the Company, appropriate adjustments shall be made by the Committee in order to preserve but not to increase the benefits to the individual, including adjustments to the
aggregate number and kind of shares subject to the Plan or to a Restricted Stock Purchase Agreement, Restricted Stock Bonus Agreement or SAR Agreement, and to the number and kind of shares, and the
price per share, subject to outstanding Options. 

	4.
	Eligible
Individuals. 

13

 

Individuals
who shall be eligible to have granted to them the Options, Stock or SARs provided for by the Plan shall be those Eligible Individuals (defined in Paragraph 1 (b) above) as
the Committee, in its discretion, shall designate from time to time (the "Optionee/s"). 

	5.
	Exercise
Price. 

The
exercise price of each Option (the "Exercise Price") shall be as determined by the Committee, provided that in no case shall the Exercise Price of any Option be less than 80% of the Common Stock
Value on the date of issuance of such Option ("Date of Grant"). The "Common Stock Value" at any time shall be equal to the then current fair market value of the Stock, as determined by the Committee.
The Exercise Price shall be subject to adjustment to the extent provided in paragraphs 3(b) above and 15 below. 

	6.
	Terms
and Conditions of Options.

	a.
	Each
Option granted pursuant to the Plan will be evidenced by a written Stock Option Agreement ("Option Agreement") executed by the Company and the relevant Optionee, the terms of
which Agreement shall be determined by the Committee subject to the terms of the Plan.

	b.
	The
Committee shall determine the term of each Option granted under the Plan; provided, however, that in no event shall the term of an Option exceed ten (10) years.

	c.
	Upon
termination of employment or other contractual relationship between the Optionee and the Company/Affiliate for cause, all unexercised Options (whether or not vested) shall
immediately lapse. Upon termination of employment or other contractual relationship between the Optionee and the Company/Affiliate (regardless of whether or not termination is by the Optionee or the
Company/Affiliate or for cause), all unvested Options shall lapse (unless otherwise determined by the Board or the Committee). Upon termination of employment (regardless of whether or not termination
is by the employee or employer or for cause), and at the option of the Company, vested Options may be repurchased by the Company if permitted by, and pursuant to the terms of, an applicable Option
Agreement.

	d.
	The
Service Options will vest over a period of five (5) years, with 20% of the Service Options vesting on each of the first five anniversaries of the Date of Grant.
Notwithstanding the foregoing, the Board or the Committee may determine different vesting schedules in special circumstances.

	e.
	Commencing
in respect of the first full calendar year after the Date of Grant, Performance Options will vest over a period of five (5) years in relation to the achievement by
the Company and its Affiliates of earnings, shipment and/or other targets to be determined annually, in advance, by the Board, with partial vesting on a sliding scale, as determined by the Board.
Notwithstanding the foregoing, (i) all non-vested Performance Options shall vest eight (8) years and eleven (11) months following the Date of Grant, and
(ii) the Board or the Committee may determine different vesting schedules in special circumstances.

	f.
	The
Option Agreement may contain such other terms, provisions, and conditions as may be determined by the Board or the Committee, provided that the same are not inconsistent with this
Plan. 

	7.
	Terms
and Conditions of Stock Purchase and Bonus

	a.
	Each
sale or grant of Stock pursuant to the Plan will be evidenced by either a written Restricted Stock Purchase Agreement executed by the Company and the person to whom such Stock is
sold or a written Restricted Stock Bonus Agreement executed by the Company and the person to whom such Stock is granted. 

14

 

	b.
	The
Restricted Stock Purchase Agreement or Restricted Stock Bonus Agreement may contain such other terms, provisions, and conditions as may be determined by the Board or the Committee
(not inconsistent with this Plan), including, without limitation, restrictions on transfer, forfeiture provisions, repurchase provisions and vesting provisions. 

	8.
	Terms
and Conditions of SARs. 

The
Committee may, under such terms and conditions as it deems appropriate, authorize the issuance of SARs evidenced by a written SAR Agreement (which, in the case of tandem options, may be part of
the Option Agreement to which the SAR relates) executed by the Company and the person to whom such SAR is granted. The SAR Agreement may contain such terms, provisions and conditions as may be
determined by the Committee and that are not inconsistent with this Plan. 

	9.
	Use
of Proceeds. 

Cash
proceeds realized from the sale of Stock under the Plan or pursuant to Options granted under the Plan shall constitute general funds of the Company. 

	10.
	Amendment,
Suspension, or Termination of the Plan.

	a.
	The
Board may, at any time, amend, suspend or terminate the Plan as it deems advisable; provided that such amendment, suspension or termination complies with all applicable legal
requirements, including any applicable requirement that the Plan, or an amendment to the Plan, be approved by the shareholders, and provided further that, except as provided in paragraph 3 (b),
above, the Board shall in no event amend the Plan in the following respects without the consent of stockholders then sufficient to approve the Plan in the first instance:

	(i)
	To
increase the maximum number of shares subject to Options issued under the Plan; or

	(ii)
	To
change the designation or class of persons eligible to receive Options under the Plan. 

	b.
	No
Option may be granted under the Plan during any suspension or after the termination of the Plan, and no amendment, suspension, or termination of the Plan shall, without the affected
individual's consent, alter or impair any rights or obligations under any Option previously granted under the Plan. The Plan shall terminate, with respect to the grant of Options, on
December 18, 2005 (or with respect to The Netherlands sub-plan, December 18, 2000), unless previously terminated by the Board pursuant to this paragraph 10. 

	11.
	Assignability.

Each
Option granted pursuant to this Plan shall, during Optionee's lifetime, be exercisable only by him or her, and neither the Option nor any right hereunder shall be transferable by Optionee, by
operation of law or otherwise, other than by will or the laws of descent and distribution. Stock subject to a Restricted Stock Purchase Agreement or a Restricted Stock Bonus Agreement shall be
transferable only as provided in such Agreement. 

	12.
	Payment
Upon Exercise of Options. 

Payment
of the Exercise Price upon exercise of any Option granted under this Plan shall be made in cash in such currency as the Committee shall specify in the applicable Option Agreement; provided,
however, that the Committee, in its sole discretion, may permit an Optionee to pay the Exercise Price, in whole or in part, (a) with shares of Stock owned by the Optionee; (b) by
delivery, on a form prescribed by the Committee, of an irrevocable direction to a securities broker approved by the Committee to sell shares and to deliver all or a portion of the proceeds to the
Company in payment for the Stock; (c) by delivery of the Optionee's promissory note with such recourse, interest, security, and redemption provisions as the Committee, in its discretion,
determines appropriate; (d) by shares of stock issuable upon exercise of the Option; or (e) in any 

15

 

combination of the foregoing. Any Stock used to exercise Options shall be valued by the Committee at its fair market value on the date of the exercise of the Option. 

	13.
	Withholding
Taxes. 

No
Option or Stock shall be granted or sold under the Plan to any participant, and no Option or SAR may be exercised, until the participant has made arrangements acceptable to the Committee for the
satisfaction of any tax and social security withholding obligations, including without limitation obligations incident to the receipt of Stock under the Plan, the lapsing of restrictions applicable to
such Stock, the failure to satisfy the conditions for treatment as Options under applicable tax law, or the receipt of cash payments. Upon the exercise of an Option and the sale of the underlying
shares, and upon the lapsing of a restriction on Stock issued under the Plan, the Company, at its Option, may withhold a portion of the proceeds from the Optionee or require the Stockholder to
surrender shares of the Company's Stock (as the case may be) sufficient to satisfy any tax and social security withholding obligations. 

	14.
	Restrictions
on Transfer of Shares. 

The
Stock acquired pursuant to the Plan shall be subject to such restrictions, limitations and agreements regarding sale, assignment, encumbrances, or other transfer or disposal as the Board and/or
Committe may, from time to time, deem advisable. 

	15.
	Re-Pricing,
Cancellation and Re-Grant of Options. 

The
Committee shall have the authority to effect, at any time and from time to time, with the consent of the affected Option holders, (a) the re-pricing of the Exercise Price of any
or all outstanding Options under the Plan and/or (b) the cancellation of any or all outstanding Options under the Plan and the grant in substitution therefor of new Options under the Plan
covering the same or different numbers of Stock but having an Exercise Price of not less than 80% of the Common Stock Value (as defined in paragraph 5 hereof) on the new Date of Grant. 

16

QuickLinks

Exhibit 4.2

Indigo N.V. 1996 International Flexible Stock Incentive Plan

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