Document:

EXHIBIT 4.03
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                                  DSL.NET, INC.

            AMENDED AND RESTATED 2001 STOCK OPTION AND INCENTIVE PLAN

SECTION 1.  PURPOSE.

            The purpose of the Amended and Restated 2001 Stock Option and
Incentive Plan (the "Plan") is to secure for DSL.net, Inc., (the "Company"), its
parent (if any) and any subsidiaries of the Company (collectively the "Related
Corporations") the benefits arising from capital stock ownership by those
employees, directors, officers and consultants of the Company and any Related
Corporations who will be responsible for the Company's future growth and
continued success.

            The Plan will provide a means whereby (a) employees of the Company
and any Related Corporations may purchase stock in the Company pursuant to
options which qualify as "incentive stock options" ("Incentive Stock Options")
under Section 422 of the Internal Revenue Code of 1986, as amended (the "Code"),
(b) directors, employees and consultants of the Company and any Related
Corporations may purchase stock in the Company pursuant to options granted
hereunder which do not qualify as Incentive Stock Options ("Non-Qualified
Options"); (c) directors, employees and consultants of the Company and any
Related Corporations may be awarded stock in the Company ("Awards"); (d)
directors, employees and consultants of the Company and any Related Corporations
may receive stock appreciation rights ("SARs"); and (e) directors, employees and
consultants of the Company and any Related Corporations may make direct
purchases of stock in the Company ("Purchases"). Both Incentive Stock Options
and Non-Qualified Options are referred to hereafter individually as an "Option"
and collectively as "Options." As used herein, the terms "parent" and
"subsidiary" mean "parent corporation" and "subsidiary corporation" as those
terms are defined in Section 424 of the Code. Options, Awards, SARs and
Purchases are referred to hereafter individually as a "Plan Benefit" and
collectively as "Plan Benefits." Directors, employees and consultants of the
Company and any Related Corporations are referred to herein as "Participants."

SECTION 2.  ADMINISTRATION.

            2.1 BOARD OF DIRECTORS AND THE COMMITTEE. The Plan will be
administered by the Board of Directors of the Company whose construction and
interpretation of the terms and provisions hereof shall be final and conclusive.
Any director to whom a Plan Benefit is awarded shall be ineligible to vote upon
his or her Plan Benefit, but Plan Benefits may be granted any such director by a
vote of the remainder of the directors, except as limited below. The Board of
Directors may in its sole discretion grant Options, issue shares upon exercise
of such Options, grant Awards, grant SARs and approve Purchases, all as provided
in the Plan. The Board of Directors shall have authority, subject to the express
provisions of the Plan, to construe the Plan and its related agreements, to
prescribe, amend and rescind rules and regulations relating to the

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Plan, to determine the terms and provisions of the respective Option, Award, SAR
and Purchase agreements, which need not be identical, and to make all other
determinations in the judgment of the Board of Directors necessary or desirable
for the administration of the Plan. The Board of Directors may correct any
defect or supply any omission or reconcile any inconsistency in the Plan or in
any related agreement in the manner and to the extent it shall deem expedient to
carry the Plan into effect and it shall be the sole and final judge of such
expediency. No director shall be liable for any action or determination made in
good faith. The Board of Directors may delegate to the President or Chief
Executive Officer of the Company the power to grant options to non-officers in
accordance with written guidelines approved by the Board of Directors. In
addition, the Board of Directors may delegate any or all of its powers under the
Plan to a Compensation Committee or other Committee (the "Committee") appointed
by the Board of Directors consisting of at least two members of the Board of
Directors. If the Company has a class of stock registered pursuant to Section 12
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), then
members of the Committee shall at all times be: (i) "outside directors" as such
term is defined in Treas. Reg. ss. 1.162-27(e)(3) (or any successor regulation);
and (ii) "non-employee directors" within the meaning of Rule 16b-3 (or any
successor rule) under the Exchange Act, as such terms are interpreted from time
to time; provided, however that if the members of the Committee do not meet the
requirements set forth in (ii) above, then all decisions and acts of the
Committee shall be subject to and effective upon the approval of the Board of
Directors. If a Committee meeting the requirements of (i) and (ii) above is so
appointed, all references to the Board of Directors herein shall mean and relate
to such Committee, unless the context otherwise requires; provided, however,
that if a Committee is appointed that does not meet the requirements of (i) and
(ii) above, then all decisions and acts of the Committee shall be subject to and
effective upon the approval of the Board of Directors.

            2.2 Compliance with Section 162(m) of the Code. Section 162(m) of
the Code, added by the Omnibus Budget Reconciliation Act of 1993, generally
limits the tax deductibility to publicly held companies of compensation in
excess of $1,000,000 paid to certain "covered employees" ("Covered Employees").
If the Company is subject to Section 162(m) of the Code, it is the Company's
intention to preserve the deductibility of such compensation to the extent it is
reasonably practicable and to the extent it is consistent with the Company's
compensation objectives. For purposes of this Plan, Covered Employees of the
Company shall be those employees of the Company described in Section 162(m)(3)
of the Code.

SECTION 3.  ELIGIBILITY.

            3.1 INCENTIVE STOCK OPTIONS. Participants who are employees shall be
eligible to receive Incentive Stock Options pursuant to the Plan; provided that
no person shall be granted any Incentive Stock Option under the Plan who, at the
time such Option is granted, owns, directly or indirectly, Common Stock of the
Company possessing more than 10% of the total combined voting power of all
classes of stock of the Company or of its Related Corporations, unless the
requirements of Section 6.6(b) hereof are satisfied. In determining whether this
10% threshold has been reached, the stock attribution rules of Section 424(d) of
the Code shall apply. Directors who are not regular employees are not eligible
to receive Incentive Stock Options.

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            3.2 NON-QUALIFIED OPTIONS, AWARDS, SARS AND PURCHASES. Non-Qualified
Options, Awards, SARs and authorizations to make Purchases may be granted to any
Participant.

            3.3 GENERALLY. The Board of Directors may take into consideration a
Participant's individual circumstances in determining whether to grant an
Incentive Stock Option, a Non-Qualified Option, an Award or an SAR or to approve
a Purchase. Granting of any Option, Award or SAR or approval of any Purchase for
any individual shall neither entitle that individual to, nor disqualify that
individual from, participation in any other grant of Plan Benefits.

SECTION 4.  STOCK SUBJECT TO PLAN.

            Subject to adjustment as provided in Sections 10 and 11 hereof, the
stock to be offered under the Plan shall consist of shares of the Company's
Common Stock, par value $.0005 per share, and the maximum number of shares of
stock which will be reserved for issuance, and in respect of which Plan Benefits
may be granted pursuant to the provisions of the Plan, shall not exceed in the
aggregate 45,000,000 shares. Such shares may be authorized and unissued shares
or may be treasury shares. If an Option or SAR granted hereunder shall expire or
terminate for any reason without having been exercised in full, or if the
Company shall reacquire any unvested shares issued pursuant to Awards or
Purchases, the unpurchased shares subject thereto and any unvested shares so
reacquired shall again be available for subsequent grants of Plan Benefits under
the Plan. Stock issued pursuant to the Plan may be subject to such restrictions
on transfer, repurchase rights or other restrictions as shall be determined by
the Board of Directors.

SECTION 5.  GRANTING OF OPTIONS, AWARDS AND SARS AND APPROVALS OF PURCHASES.

            Options, Awards and SARs may be granted and Purchases may be
approved under the Plan at any time on or after November 28, 2001 and prior to
November 28, 2011; provided, however, that prior to the date the Plan is first
approved by the Company's stockholders (i) no Incentive Stock Options shall be
granted pursuant to the Plan and (ii) no Plan Benefits shall be granted to a
director or an officer of the Company or any Related Corporations, unless with
respect to such grant to an officer, such grant is an inducement essential to
such person's entering into one or more employment agreements with the Company
or any Related Corporations as a new employee. The date of grant of an Option,
Award or SAR or approval of a Purchase under the Plan will be the date specified
by the Board of Directors at the time the Board of Directors grants such Option,
Award or SAR or approves such Purchase; provided, however, that such date shall
not be prior to the date on which the Board of Directors takes such action. The
Board of Directors shall have the right, with the consent of a Participant, to
convert an Incentive Stock Option granted under the Plan to a Non-Qualified
Option pursuant to Section 6.7. Plan Benefits may be granted alone or in
addition to other grants under the Plan.

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SECTION 6.  SPECIAL PROVISIONS APPLICABLE TO OPTIONS AND SARS.

            6.1 PURCHASE PRICE AND SHARES SUBJECT TO OPTIONS AND SARS.

                        (a) The purchase price per share of stock deliverable
            upon the exercise of an Option shall be determined by the Board of
            Directors, provided, however, that, in the case of an Incentive
            Stock Option, the exercise price shall not be less than 100% of the
            fair market value of such stock on the day the option is granted
            (except as modified in Section 6.6(b) hereof). The Board of
            Directors may delegate to the Chief Executive Officer of the Company
            the power to determine the exercise price of an option in accordance
            with written guidelines approved by the Board of Directors.

                        (b) Options granted under the Plan may provide for the
            payment of the exercise price by delivery of (i) cash or a check
            payable to the order of the Company in an amount equal to the
            exercise price of such Options, (ii) shares of Common Stock of the
            Company owned by the Participant having a fair market value equal in
            amount to the exercise price of the Options being exercised, or
            (iii) any combination of (i) and (ii). The fair market value of any
            shares of the Company's Common Stock which may be delivered upon
            exercise of an Option shall be determined by the Board of Directors.
            The Board of Directors may also permit Participants, either on a
            selective or aggregate basis, to simultaneously exercise Options and
            sell the shares of Common Stock thereby acquired, either to the
            Company or pursuant to a brokerage or similar arrangement, approved
            in advance by the Board of Directors, and to use the proceeds from
            such sale as payment of the purchase price of such shares.

                        (c) If, at the time an Option is granted under the Plan,
            the Company's Common Stock is publicly traded, "fair market value"
            shall be determined as of the last business day for which the prices
            or quotes discussed in this sentence are available prior to the date
            such Option is granted (the "Determination Date") and shall mean (i)
            the average (on the Determination Date) of the high and low prices
            of the Common Stock on the principal national securities exchange on
            which the Common Stock is traded, if such Common Stock is then
            traded on a national securities exchange; (ii) the last reported
            sale price (on the Determination Date) of the Common Stock on the
            Nasdaq Stock Market if the Common Stock is not then traded on a
            national securities exchange; or (iii) the closing bid price (or
            average of bid prices) last quoted (on the Determination Date) by an
            established quotation service for over-the-counter securities, if
            the Common Stock is not reported on the Nasdaq Stock Market.
            However, if the Common Stock is not publicly traded at the time an
            Option is granted under the Plan, "fair market value" shall be
            deemed to be the fair value of the Common Stock as determined by the
            Board of Directors after taking into consideration all factors which
            it deems appropriate, including, without limitation, recent sale and
            offer prices of the Common Stock in private transactions negotiated
            at arm's length.

                        (d) If the Company is subject to Section 162(m) of the
            Code, the maximum number of shares with respect to which Options or
            SARs may be granted to any

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            employee, including any cancellations or repricings which may occur,
            shall be limited to 5,000,000 shares in any calendar year.

            6.2 DURATION OF OPTIONS AND SARS. Subject to Section 6.6(b) hereof,
each Option and SAR and all rights thereunder shall be expressed to expire on
such date as the Board of Directors may determine, but in no event later than
ten years from the day on which the Option or SAR is granted and shall be
subject to earlier termination as provided herein.

            6.3 EXERCISE OF OPTIONS AND SARS.

                        (a) Subject to Section 6.6(b) hereof, each Option and
            SAR granted under the Plan shall be exercisable at such time or
            times and during such period as shall be set forth in the instrument
            evidencing such Option or SAR. To the extent that an Option or SAR
            is not exercised by a Participant when it becomes initially
            exercisable, it shall not expire but shall be carried forward and
            shall be exercisable, on a cumulative basis, until the expiration of
            the exercise period. No partial exercise may be for less than ten
            (10) full shares of Common Stock (or its equivalent).

                        (b) The Board of Directors shall have the right to
            accelerate the date of exercise of any installments of any Option or
            SAR; provided that the Board of Directors shall not accelerate the
            exercise date of any installment of any Option granted to a
            Participant as an Incentive Stock Option (and not previously
            converted into a Non-Qualified Option pursuant to Section 6.7) if
            such acceleration would violate the annual vesting limitation
            contained in Section 422(d)(1) of the Code, which provides generally
            that the aggregate fair market value (determined at the time the
            Option is granted) of the stock with respect to which Incentive
            Stock Options granted to any Participant are exercisable for the
            first time by such Participant during any calendar year (under all
            plans of the Company and any Related Corporations) shall not exceed
            $100,000. To the extent the aggregate fair market value of the stock
            with respect to which Incentive Stock Options granted to any
            Participant are exercisable for the first time by such Participant
            during any calendar year (under all plans of the Company and any
            Related Corporations) exceeds $100,000, such Options shall be
            treated as Non-Qualified Options.

            6.4 NONTRANSFERABILITY OF OPTIONS AND SARS.

            No Option or SAR granted under the Plan shall be assignable or
transferable by the Participant, either voluntarily or by operation of law,
except by will or the laws of descent and distribution or, with respect to
Non-Qualified Options and SARs, pursuant to a qualified domestic relations order
as defined by the Code or Title I of the Employee Retirement Income Security Act
("ERISA") or the rules promulgated thereunder or unless the Participant's
non-qualified stock option agreement granting such options (the "Non-Qualified
Stock Option Agreement") or the Participant's SAR agreement granting such SARs
(the "SAR Agreement") provides otherwise. Unless otherwise provided by the
Non-Qualified Stock Option Agreement or the SAR Agreement, during the life of
the Participant, the Option or SAR shall be exercisable only by him or her. If
any Participant should attempt to dispose of or encumber his or her

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Options or SARs, other than in accordance with the applicable terms of a
Non-Qualified Stock Option Agreement or SAR Agreement, his or her interest in
such Options or SARs shall terminate.

            6.5 EFFECT OF TERMINATION OF EMPLOYMENT OR DEATH.

                        (a) Except as provided in any applicable option
            agreement, if a Participant ceases to be employed by the Company or
            a Related Corporation for any reason, including retirement but other
            than death, any Option or SAR granted to such Participant under the
            Plan shall immediately terminate; provided, however, that any
            portion of such Option or SAR which was otherwise exercisable on the
            date of termination of the Participant's employment may be exercised
            within the three-month period following the date on which the
            Participant ceased to be so employed, but in no event after the
            expiration of the exercise period. Any such exercise may be made
            only to the extent of the number of shares subject to the Option or
            SAR which were purchasable on the date of such termination of
            employment. If the Participant dies during such three-month period,
            the Option or SAR shall be exercisable by the Participant's personal
            representatives, heirs or legatees to the same extent and during the
            same period that the Participant could have exercised the Option or
            SAR on the date of his or her death.

                        (b) If the Participant dies while an employee of the
            Company or any Related Corporation, any Option or SAR granted to
            such Participant under the Plan shall be exercisable by the
            Participant's personal representatives, heirs or legatees, for the
            purchase of that number of shares and to the same extent that the
            Participant could have exercised the Option or SAR on the date of
            his or her death. The Option or SAR or any unexercised portion
            thereof shall terminate unless so exercised prior to the earlier of
            the expiration of six months from the date of such death or the
            expiration of the exercise period.

            6.6 DESIGNATION OF INCENTIVE STOCK OPTIONS; LIMITATIONS.

            Options granted under the Plan which are intended to be Incentive
Stock Options qualifying under Section 422 of the Code shall be designated as
Incentive Stock Options and shall be subject to the following additional terms
and conditions:

                        (a) Dollar Limitation. The aggregate fair market value
            (determined at the time the option is granted) of the Common Stock
            for which Incentive Stock Options are exercisable for the first time
            during any calendar year by any person under the Plan (and all other
            incentive stock option plans of the Company and any Related
            Corporations) shall not exceed $100,000. To the extent the aggregate
            fair market value of the Common Stock for which Incentive Stock
            Options granted to any Participant are exercisable for the first
            time by such Participant during any calendar year (under all plans
            of the Company and any Related Corporations) exceeds $100,000, such
            Options shall be treated as Non-Qualified Options. In the event that
            Section 422(d)(1) of the Code is amended to alter the limitation set
            forth therein so that following such amendment such limitation shall

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            differ from the limitation set forth in this Section 6.6(a), the
            limitation of this Section 6.6(a) shall be automatically adjusted
            accordingly.

                        (b) 10% Stockholder. If any employee to whom an
            Incentive Stock Option is to granted pursuant to the provisions of
            the Plan is on the date of grant the owner of stock possessing more
            than 10% of the total combined voting power of all classes of stock
            of the Company or any Related Corporations, then the following
            special provisions shall be applicable to the Incentive Stock Option
            granted to such individual:

                                    (i) The option price per share of the Common
                        Stock subject to such Incentive Stock Option shall not
                        be less than 110% of the fair market value of one share
                        of Common Stock on the date of grant; and

                                    (ii) The option exercise period shall not
                        exceed five years from the date of grant.

            In determining whether the 10% threshold has been reached, the stock
            attribution rules of Section 424(d) of the Code shall apply.

                        (c) Except as modified by the preceding provisions of
            this Section 6.6, all of the provisions of the Plan shall be
            applicable to Incentive Stock Options granted hereunder.

            6.7 CONVERSION OF INCENTIVE STOCK OPTIONS INTO NON-QUALIFIED
OPTIONS; TERMINATION OF INCENTIVE STOCK OPTIONS. The Board of Directors, at the
written request of any Participant, may in its discretion take such actions as
may be necessary to convert such Participant's Incentive Stock Options (or any
installments or portions of installments thereof) that have not been exercised
on the date of conversion into Non-Qualified Options at any time prior to the
expiration of such Incentive Stock Options, regardless of whether the
Participant is an employee of the Company or a Related Corporation at the time
of such conversion. Such actions may include, but not be limited to, extending
the exercise period or reducing the exercise price of the appropriate
installments of such Options. At the time of such conversion, the Board of
Directors (with the consent of the Participant) may impose such conditions on
the exercise of the resulting Non-Qualified Options as the Board of Directors in
its discretion may determine, provided that such conditions shall not be
inconsistent with the Plan. Nothing in the Plan shall be deemed to give any
Participant the right to have such Participant's Incentive Stock Options
converted into Non-Qualified Options, and no such conversion shall occur until
and unless the Board of Directors takes appropriate action. The Board of
Directors, with the consent of the Participant, may also terminate any portion
of any Incentive Stock Option that has not been exercised at the time of such
termination.

            6.8 STOCK APPRECIATION RIGHTS. A SAR is the right to receive,
without payment, an amount equal to the excess, if any, of the fair market value
of a share of Common Stock on the date of exercise over the grant price, which
amount will be multiplied by the number of shares with respect to which the SARs
shall have been exercised. The grant of SARs under the Plan

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shall be subject to the following terms and conditions and shall contain such
additional terms and conditions, not inconsistent with the express terms of the
Plan, as the Board of Directors shall deem desirable:

                        (a) Grant. SARs may be granted in tandem with, in
            addition to or completely independent of any Plan Benefit.

                        (b) Grant Price. The grant price of a SAR may be the
            fair market value of a share of Common Stock on the date of grant or
            such other price as the Board of Directors may determine.

                        (c) Exercise. A SAR may be exercised by a Participant in
            accordance with procedures established by the Board of Directors or
            as otherwise provided in any agreement evidencing any SARs. The
            Board of Directors may provide that an SAR shall be automatically
            exercised on one or more specified dates.

                        (d) Form of Payment. Payment upon exercise of an SAR may
            be made in cash, in shares of Common Stock or any combination
            thereof, as the Board of Directors shall determine.

                        (e) Fair Market Value. Fair market value shall be
            determined in accordance with Section 6.1(c) with the "Determination
            Date" being determined by reference to the date of grant or the date
            of exercise of an SAR, as applicable.

            6.9 RIGHTS AS A STOCKHOLDER.

            The holder of an Option or SAR shall have no rights as a stockholder
with respect to any shares covered by the Option or SAR until the date of issue
of a stock certificate to him or her for such shares. Except as otherwise
expressly provided in the Plan, no adjustment shall be made for dividends or
other rights for which the record date is prior to the date such stock
certificate is issued.

            6.10 SPECIAL PROVISIONS APPLICABLE TO NON-QUALIFIED OPTIONS AND SARS
GRANTED TO COVERED EMPLOYEES.

            If the Company is subject to Section 162(m) of the Code, in order
for the full value of Non-Qualified Options or SARs granted to Covered Employees
to be deductible by the Company for federal income tax purposes, the Company may
intend for such Non-Qualified Options or SARs to be treated as "qualified
performance-based compensation" as described in Treas. Reg. ss.1.162-27(e) (or
any successor regulation). In such case, Non-Qualified Options or SARs granted
to Covered Employees shall be subject to the following additional requirements:

                        (a) such options and rights shall be granted only by the
            Committee; and

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                        (b) the exercise price of such Options and the grant
            price of such SARs granted shall in no event be less than the fair
            market value of the Common Stock as of the date of grant of such
            Options or SARs.

SECTION 7.  SPECIAL PROVISIONS APPLICABLE TO AWARDS

            7.1 GRANTS OF AWARDS. The Board of Directors may grant a Participant
an Award subject to such terms and conditions as the Board of Directors deems
appropriate, including, without limitation, restrictions on the pledging, sale,
assignment, transfer or other disposition of such shares and the requirement
that the Participant forfeit all or a portion of such shares back to the Company
upon termination of employment.

            7.2  CONDITIONS. Approvals of Awards may be subject to the following
conditions:

                        (a) Each Participant receiving an Award shall enter into
            an agreement (a "Stock Restriction Agreement") with the Company, if
            required by the Board of Directors, in a form specified by the Board
            of Directors agreeing to such terms and conditions of the Award as
            the Board of Directors deems appropriate.

                        (b) Shares issued and transferred to a Participant
            pursuant to an Award may, if required by the Board of Directors, be
            deposited with the Treasurer or other officer of the Company
            designated by the Board of Directors to be held until the lapse of
            the restrictions upon such shares, and each Participant shall
            execute and deliver to the Company stock powers enabling the Company
            to exercise its rights hereunder.

                        (c) Certificates for shares issued pursuant to an Award
            shall, if the Company shall deem it advisable, bear a legend to the
            effect that they are issued subject to specified restrictions.

                        (d) Certificates representing the shares issued pursuant
            to an Award shall be registered in the name of the Participant and
            shall be owned by such Participant. Such Participant shall be the
            holder of record of such shares for all purposes, including voting
            and receipt of dividends paid with respect to such shares.

            7.3 NONTRANSFERABILITY. Shares issued pursuant to an Award may not
be sold, assigned, transferred, alienated, commuted, anticipated, or otherwise
disposed of (except, subject to the provisions of such Participant's Stock
Restriction Agreement, by will or the laws of descent and distribution or
pursuant to a qualified domestic relations order as defined by the Code or Title
I of ERISA or the rules promulgated thereunder), or pledged or hypothecated as
collateral for a loan or as security for the performance of any obligation, or
be otherwise encumbered, and are not subject to attachment, garnishment,
execution or other legal or equitable process, prior to the lapse of
restrictions on such shares, and any attempt at action in contravention of this
Section shall be null and void. If any Participant should attempt to dispose

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of or encumber his or her shares issued pursuant to an Award prior to the lapse
of the restrictions imposed on such shares, his or her interest in such shares
shall terminate.

            7.4 EFFECT OF TERMINATION OF EMPLOYMENT OR DEATH ON AWARDS. If,
prior to the lapse of restrictions applicable to Awards, the Participant ceases
to be an employee of the Company or the Related Corporations for any reason,
Awards to such Participant, as to which restrictions have not lapsed, shall be
forfeited to the Company, effective on the date of the Participant's termination
of employment. The Board of Directors shall have the sole power, consistent with
applicable laws, to decide in each case to what extent leaves of absence shall
be deemed a termination of employment.

SECTION 8.  SPECIAL PROVISIONS APPLICABLE TO PURCHASES.

            All approvals of Purchases which provide that the Company has a
right to repurchase the shares subject to such Purchase (the "Restricted
Shares") shall be subject to the terms and conditions set forth in the related
agreement (the "Stock Purchase Restriction Agreement") approved by the Board of
Directors, and shall be subject to the other terms and conditions of this
Section 8.

            8.1 CONDITIONS. All approvals of Purchases shall be subject to the
following conditions:

                        (a) Prior to the issuance and transfer of Restricted
            Shares, the Participant shall pay to the Company the purchase price
            (the "Purchase Price") of the Restricted Shares in cash or in such
            other manner as shall be as approved by the Board of Directors.

                        (b) Restricted Shares issued and transferred to a
            Participant may, if required by the Board of Directors, be deposited
            with the Treasurer or other officer of the Company designated by the
            Board of Directors to be held until the lapse of the restrictions
            upon such Restricted Shares, and each Participant shall execute and
            deliver to the Company stock powers enabling the Company to exercise
            its rights hereunder.

                        (c) Certificates for Restricted Shares shall, if the
            Company shall deem it advisable, bear a legend to the effect that
            they are issued subject to specified restrictions.

                        (d) Certificates representing the Restricted Shares
            shall be registered in the name of the Participant and shall be
            owned by such Participant. Such Participant shall be the holder of
            record of such Restricted Shares for all purposes, including voting
            and receipt of dividends paid with respect to such Restricted
            Shares.

            8.2 NONTRANSFERABILITY. A Participant's Restricted Shares may not be
sold, assigned, transferred, alienated, commuted, or otherwise disposed of
(except, subject to the provisions of such Participant's Stock Purchase
Restriction Agreement, by will or the laws of descent and distribution or
pursuant to a qualified domestic relations order as defined by the Code or Title
I

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of ERISA or the rules promulgated thereunder), or pledged or hypothecated as
collateral for a loan or as security for the performance of any obligation, or
be otherwise encumbered, and are not subject to attachment, garnishment,
execution or other legal or equitable process, prior to the lapse of
restrictions on such Restricted Shares, and any attempt at action in
contravention of this Section shall be null and void. If any Participant should
attempt to dispose of or encumber his or her Restricted Shares prior to the
lapse of the restrictions imposed on such Restricted Shares, his or her interest
in the Restricted Shares awarded to him or her shall terminate.

SECTION 9.  REQUIREMENTS OF LAW.

            9.1 VIOLATIONS OF LAW. No shares shall be issued and delivered upon
exercise of any Option or the making of any Award or Purchase or the payment of
any SAR unless and until, in the opinion of counsel for the Company, any
applicable registration requirements of the Securities Act of l933, as amended,
any applicable listing requirements of any national securities exchange on which
stock of the same class is then listed, and any other requirements of law or of
any regulatory bodies having jurisdiction over such issuance and delivery, shall
have been fully complied with. Each Participant may, by accepting Plan Benefits,
be required to represent and agree in writing, for himself or herself and for
his or her transferees by will or the laws of descent and distribution, that the
stock acquired by him, her or them is being acquired for investment. The
requirement for any such representation may be waived at any time by the Board
of Directors.

            9.2 COMPLIANCE WITH RULE 16B-3. If the Company has a class of stock
registered pursuant to Section 12 of the Exchange Act, the intent of this Plan
is to qualify for the exemption provided by Rule 16b-3 under the Exchange Act.
To the extent any provision of the Plan does not comply with the requirements of
Rule 16b-3, it shall be deemed inoperative to the extent permitted by law and
deemed advisable by the Board of Directors and shall not affect the validity of
the Plan. In the event Rule 16b-3 is revised or replaced, the Board of Directors
may exercise discretion to modify this Plan in any respect necessary to satisfy
the requirements of the revised exemption or its replacement.

SECTION 10. RECAPITALIZATION.

            In the event that dividends are payable in Common Stock of the
Company or in the event there are splits, sub-divisions or combinations of
shares of Common Stock of the Company, the number of shares available under the
Plan shall be increased or decreased proportionately, as the case may be, and
the number of shares deliverable upon the exercise thereafter of any Option
previously granted shall be increased or decreased proportionately, as the case
may be, without change in the aggregate purchase price, and the number of shares
to which granted SARs relate shall be increased or decreased proportionately, as
the case may be, and the grant price of such SARs shall be decreased or
increased proportionately, as the case may be.

                                       11
<PAGE>

SECTION 11. REORGANIZATION.

            (a) In case the Company is merged or consolidated with another
corporation and the Company is not the surviving corporation, or, in case the
property or stock of the Company is acquired by any other corporation, or in
case of a reorganization or liquidation of the Company, the Board of Directors
of the Company, or the board of directors of any corporation assuming the
obligations of the Company hereunder, shall, as to outstanding Plan Benefits,
either (i) make appropriate provision for the protection of any such outstanding
Plan Benefits by the substitution on an equitable basis of appropriate stock of
the Company or of the merged, consolidated or otherwise reorganized corporation
which will be issuable in respect of the shares of Common Stock of the Company,
provided only that the excess of the aggregate fair market value of the shares
subject to the Plan Benefits immediately after such substitution over the
purchase price thereof is not more than the excess of the aggregate fair market
value of the shares subject to such Plan Benefits immediately before such
substitution over the purchase price thereof, (ii) upon written notice to the
Participants, provide that all unexercised Plan Benefits must be exercised
within a specified number of days of the date of such notice or such Plan
Benefits will be terminated, or (iii) upon written notice to the Participants,
provide that the Company or the merged, consolidated or otherwise reorganized
corporation shall have the right, upon the effective date of any such merger,
consolidation, sale of assets or reorganization, to purchase all Plan Benefits
held by each Participant and unexercised as of that date at an amount equal to
the aggregate fair market value on such date of the shares subject to the Plan
Benefits held by such Participant over the aggregate purchase price therefor,
such amount to be paid in cash or, if stock of the merged, consolidated or
otherwise reorganized corporation is issuable in respect of the shares of the
Common Stock of the Company, then, in the discretion of the Board of Directors,
in stock of such merged, consolidated or otherwise reorganized corporation equal
in fair market value to the aforesaid amount. In any such case the Board of
Directors shall, in good faith, determine fair market value and may, in its
discretion, advance the lapse of any waiting or installment periods and exercise
dates.

            (b) Notwithstanding anything herein to the contrary, in the event
that following or in connection with a Change-in-Control (as defined below), a
Participant's employment with, or service as a director or consultant of, the
Company is (i) terminated by the Company for any reason other than Cause (as
defined below), or (ii) terminated by the Participant for Good Reason (as
defined below), any portion of a Participant's Plan Benefit which would
otherwise vest or become exercisable solely with the passage of time and the
Participant's continued employment with or service as a director or consultant
of the Company, shall immediately vest and become fully exercisable and all
rights relevant to such Plan Benefit shall accrue immediately to such
Participant, unless otherwise explicitly provided in the applicable Award
agreement. The term "Cause" shall mean (i) habitual intoxication, (ii) illegal
drug use or addiction, (iii) conviction of a felony (or plea of guilty or nolo
contendere), (iv) material failure or inability to perform one's agreements,
duties or obligations as an employee, director or consultant, other than from
illness or injury, and (v) willful misconduct or negligence in the performance
of one's agreements, duties or obligations as an employee, director or
consultant. The term "Change-in-Control" shall mean: (i) any sale, lease,
exchange or other transfer (in one transaction or series of transactions) of all
or substantially all of the assets of the Company; (ii) individuals who, as of
the date hereof, constitute the entire Board of Directors of the Company (the
"Incumbent Directors") cease for

                                       12
<PAGE>

any reason to constitute at least a majority of the Board of Directors, provided
that any individual becoming a director subsequent to the date hereof whose
election or nomination for election was approved by a vote of at least a
majority of the then Incumbent Directors shall be, for the purposes of this
provision, considered as though such individual were an Incumbent Director;
(iii) any consolidation or merger of the Company with any other entity
(including, without limitation, a triangular merger) where the stockholders of
the Company immediately prior to the consolidation or merger, would not,
immediately after the consolidation or merger, beneficially own, directly or
indirectly, shares representing fifty percent (50%) of the combined voting power
of all of the outstanding securities of the entity issuing cash or securities in
the consolidation or merger (or its ultimate parent corporation, if any); (iv) a
person, including a "person" as defined in Section 13(d)(3) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), other than the Company or
an employee benefit plan sponsored by the Company, becomes the beneficial owner
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing forty percent (40%) or more of the total
voting power represented by the Company's then outstanding voting securities,
except for a person who was a beneficial owner of forty percent (40%) or more of
the total voting power of the Company's outstanding voting securities on April
29, 1999; or (v) the Board of Directors of the Company, by a vote of a majority
of all the Directors, adopts a resolution to the effect that a
"Change-in-Control" has occurred for purposes of this Agreement. The term "Good
Reason" shall mean that (i) the Participant's compensation has been materially
reduced, (ii) the Participant's position, duties or responsibilities have been
materially changed, (iii) the Participant, if an employee of the Company, has
been required to move his or her principal residence because his primary place
of employment is moved to a location greater than thirty (30) miles away from
its then current location, (iv) the Company has not paid to the Participant when
due any salary, bonus or other material benefit due to him or her, or (v) there
exists a breach by the Company of any material term or provision of any
employment agreement between it and the Participant, provided, however, that, in
any such event, the Participant shall notify the Company of such event and give
it fifteen (15) days to remedy the situation before terminating his or her
employment.

SECTION 12. NO SPECIAL EMPLOYMENT RIGHTS.

            Nothing contained in the Plan or in any Plan Benefit documentation
shall confer upon any Participant receiving a grant of any Plan Benefit any
right with respect to the continuation of his or her employment by the Company
(or any Related Corporation) or interfere in any way with the right of the
Company (or any Related Corporation), subject to the terms of any separate
employment agreement to the contrary, at any time to terminate such employment
or to increase or decrease the compensation of the Participant from the rate in
existence at the time of the grant of any Plan Benefit. Whether an authorized
leave of absence, or absence in military or government service, shall constitute
termination of employment shall be determined by the Board of Directors.

                                       13
<PAGE>

SECTION 13. AMENDMENT OF THE PLAN.

            The Board of Directors may at any time and from time to time modify
or amend the Plan in any respect. The termination or any modification or
amendment of the Plan shall not, without the consent of a recipient of any Plan
Benefit, affect his or her rights under any Plan Benefit previously granted.
With the consent of the affected Participant, the Board of Directors may amend
outstanding agreements relating to any Plan Benefit, in a manner not
inconsistent with the Plan. The Board of Directors hereby reserves the right to
amend or modify the terms and provisions of the Plan and of any outstanding
Options to the extent necessary to qualify any or all Options under the Plan for
such favorable federal income tax treatment (including deferral of taxation upon
exercise) as may be afforded incentive stock options under Section 422 of the
Code, provided, however, that the consent of an optionee is required if such
amendment or modification would cause unfavorable income tax treatment for such
optionee.

SECTION 14. WITHHOLDING.

            The Company's obligation to deliver shares of stock upon the
exercise of any Option or the granting of an Award or to make payment upon any
exercise of any SAR or making of a Purchase shall be subject to the satisfaction
by the Participant of all applicable federal, state and local income and
employment tax withholding requirements.

SECTION 15. EFFECTIVE DATE AND DURATION OF THE PLAN.

            15.1 EFFECTIVE DATE. This Plan, which amends and restates the 2001
Stock Option and Incentive Plan approved by the Board of Directors on November
28, 2001, became effective on November 28, 2001. Subject to the limitations set
forth in Section 5, Options may be granted under the Plan at any time on or
after the effective date and before the date fixed herein for termination of the
Plan.

            15.2 DURATION. Unless sooner terminated in accordance with Section
l1 hereof, the Plan shall terminate upon the earlier of (i) November 28, 2011 or
(ii) the date on which all shares available for issuance under the Plan shall
have been issued pursuant to any Awards or Purchases or the exercise or
cancellation of Options and SARs granted hereunder. If the date of termination
is determined under (i) above, then Plan Benefits outstanding on such date shall
continue to have force and effect in accordance with the provisions of the
instruments evidencing such Plan Benefits.

SECTION 16. GOVERNING LAW.

            The Plan and all actions taken thereunder shall be governed by the
laws of the State of Connecticut.

                                       14Filed by Automated Filing Services Inc. (604) 609-0244 - Rockwell Ventures Inc. - Exhibit 4.1

MINERAL PROPERTIES TRANSFER AGREEMENT 

THIS AGREEMENT made November 15, 2001

 AMONG:

	 	HUNTER DICKINSON GROUP INC.  

       (“HDG”) 

AND:  

	 	ROCKWELL VENTURES INC. 

       (“Rockwell”) 

AND:

	 	AMARC RESOURCES LTD. 

       (“Amarc”) 

WHEREAS Rockwell has agreed to quitclaim any indirect interest in a certain mineral property and hence is seeking a new property interest;

AND WHEREAS HDG has agreed to assign to Amarc a Mexican exploration concession known as Inde and has also agreed to assign to Rockwell an option acquired by HDG from Falconbridge this option respecting the right to earn a 60% interest in the
Haut Plateau mineral prospect in Quebec;

NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual covenants and premises contained herein the parties do hereby agree each with the other that:

 1.          RESPECTING
  ROCKWELL’S QUITCLAIM  

Rockwell to Receive Amarc Warrants for Quitclaim 

 (a)          In consideration
  of Rockwell’s previous involvement with Precious Exploration Limited Partnership
  (“PELP”) and the Fox River Project and its activities in connection
  with the exploration programs related thereto, Amarc hereby agrees to grant
  to Rockwell warrants in its capital stock contingent on achievement by PELP
  of the expenditure milestones contemplated by the Falconbridge Option respecting
  the Fox River Project. Amarc shall allot and issue an aggregate of up to 1 million
  Amarc common share purchase warrants in its capital stock on the basis that
  warrants to purchase 200,000 common shares of Amarc for a 2-year period at a
  price of $1.00 shall be issued to Rockwell on closing and thereafter each $2.5
  million of project expenditures on the Fox River Project (after expenditures
  to date) shall result in the further 

- 2 -

issuance of an additional 200,000 warrants priced at the higher of $0.25 exercise price per share higher than the previous allotment of such warrants and the prevailing five-day average market price at the time PELP or any third party completes the
required expenditures as long as Amarc has some interest direct or indirect in the Fox River Project. Rockwell hereby quitclaims any interest or claim it may have had or may assert in PELP or the Fox River Project.

Cancellation of Warrants 

 (b)          HDG
  acknowledges that Canadian Venture Exchange (“CDNX”) acceptance for
  the proposed issuance to it of two million common shares purchase warrants of
  Rockwell in connection with Rockwell’s intended participation in PELP and
  which were to be exercisable at $0.40 for a two-year period was not received
  from prior to the date of this agreement and HDG accordingly acknowledges the
  termination of Rockwell’s obligation to issue such share purchase warrants
  and releases Rockwell from any claim in respect thereof. 

 2.          RESPECTING
  THE HAUT PLATEAU PROPERTY  

Transfer of Haut Plateau Option 

 (a)          HDG
  hereby agrees to transfer and assign over to Rockwell HDG’s rights pursuant
  to a separate agreement with Falconbridge respecting the Haut Plateau Property,
  Quebec, more particularly set forth in the letter agreement forming Schedule
  “A” hereto. Rockwell hereby agrees to accept the assignment of the
  Haut Plateau Option on the terms and conditions herein set forth. 

Nominal Assignment Consideration 

 (b)          In consideration
  of the assignment of the Haut Plateau Option, Rockwell hereby agrees to pay
  HDG $1.00 plus any out-of-pocket costs incurred in connection therewith. 

 3.          ASSIGNMENT
  OF INDE OPTION  

Transfer of Inde Concession 

 (a)          Subject
  to the completion of the transactions contemplated by §1 and §2 hereof,
  HDG does hereby agree to assign and transfer over to Amarc an option to acquire
  the Inde mineral concession more particularly described in the agreement attached
  hereto as Schedule “B”. 

Assignment Consideration

 (b)          In consideration
  of the assignment of the Inde Option, Amarc hereby agrees to pay HDG $1.00,
  plus HDG’s costs to the date of the Closing of approximately US$475,000.

 4.          CLOSING
   

Closing Date 

 (a)          Closing
  of the transactions contemplated hereby shall occur on the second business day
  after acceptance of the CDNX to the transactions contemplated hereby. If closing
  does not occur within 90 days of the date of execution of this agreement, the
  obligations of any party may be terminated upon notice to the other parties.

 - 3 - 

Closing Deliveries 

(b)          At closing,
  each of the parties shall execute such assignments, conveyances and the like
  as may be reasonably required by a party hereto to complete the transactions
  contemplated hereby. Each of the parties shall also deliver evidence of its
  respective CDNX approval, a certified copy of the resolution of its board of
  directors authorizing the completion of the transaction contemplated hereby
  and any third party consents to the transfers including any necessary consents
  of Falconbridge.

 Inspection of Records

(c)          From
  the date of execution hereof until completion or termination of this agreement,
  each of the parties agrees to afford the other access to its financial and exploration
  records for purposes of completing any necessary reconciliation, due diligence
  and other matters reasonably necessary or preparatory for closing.

 Closing Indemnities, Certificates, etc.

(d)          On closing,
  each of the parties shall provide the other with a registrable quitclaim or
  release of such party’s interest in any property assigned hereunder except
  for any retained interest as contemplated hereby. In addition, there shall be
  a release of any claim for securities respecting any prior agreements and each
  assigning party shall provide an indemnification of the assignee party with
  respect to any liabilities (inclusive of environmental) respecting its prior
  activities on any property and a certification that all amounts due and owing
  with respect to work conducted on the property have been fully discharged except
  where otherwise agreed by the parties.

5.          ADDITIONAL
  CLOSING MATTERS

 Prior to Closing of the agreements contemplated hereby the parties will use
  reasonable commercial efforts to obtain:

(a)          The acceptance
  hereof by the Canadian Venture Exchange;

(b)          The necessary
  consents from Falconbridge.

 Each of the parties will use all reasonable commercial efforts to see that
  the foregoing matters are fulfilled within 90 days of the date hereof providing
  that these items may be waived by agreement of the parties at any time.

6.          EFFECTIVE
  DATE

 Notwithstanding a later date of the Closing, this Agreement is intended by
  the parties to be, and will be, effective from and as of the date hereof.

7.          GENERAL
  PROVISIONS

(a)          This
  Agreement has been made in accordance with the laws of the Province of British
  Columbia and shall be construed and enforced in accordance with the laws of
  that Province notwithstanding that the location of any property may be located
  outside of the Province of British Columbia.

- 4 -

 (b)          Each
  of the parties shall, without request for further consideration or undue delay,
  promptly do such further acts and execute such further deeds and documents as
  may be reasonably be required by a party to effect the terms hereof. Each of
  the parties shall use its best efforts to obtain the acceptance of the CDNX
  for the transactions contemplated hereby, as well as any necessary consents
  from Falconbridge. 

 (c)          This
  Agreement shall enure to the benefit of and shall be binding upon the parties
  hereto and their respective successors and assigns. 

 (d)          This
  Agreement may be assigned by any party upon notice to the other parties and
  subject to their consents such consents to be promptly considered and not unreasonably
  withheld. 

 (e)          Notices
  shall be given by any party to the other by hand delivery at 1020 – 800
  West Pender Street, Vancouver, British Columbia, Attention: The President. 

 IN WITNESS WHEREOF the parties have caused this Agreement to be executed
  as of the date first above written.

	 	HUNTER DICKINSON INC.
	 	 	 
	 	Per:	 
	 	 	

	 	 	Authorized Signatory 

	 	ROCKWELL VENTURES INC. 
	 	 	 
	 	Per:	 
	 	 	

	 	 	Authorized Signatory 

	 	AMARC RESOURCES LTD.
	 	 	 
	 	Per:	 
	 	 	

	 	 	Authorized Signatory

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