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Exhibit 4.1  

 
 

SIMPSON MANUFACTURING CO., INC.
  
    1994 STOCK OPTION PLAN
  
    Adopted February 23, 1994
  and Amended through July 29, 2002    
  

1.    PURPOSES.  

        (a)  The
purpose of the Plan is to provide a means by which selected Employees and Directors of and Consultants to the Company, and its Affiliates, may be given an
opportunity to purchase stock of the Company. 

        (b)  The
Company, by means of the Plan, seeks to retain the services of persons who are now Employees or Directors of or Consultants to the Company and its Affiliates, to
secure and retain the services of new Employees, Directors and Consultants, and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Affiliates. 

        (c)  The
Company intends that the Options issued under the Plan shall, in the discretion of the Board or any Committee to which responsibility for administration of the Plan
has been delegated pursuant to subsection 3(c), be either Incentive Stock Options or Nonstatutory Stock Options. All Options shall be
separately designated Incentive Stock Options or Nonstatutory Stock Options at the time of grant, and in such form as issued pursuant to section 6, and a separate certificate or certificates
will be issued for shares purchased on exercise of each type of Option. 

2.    DEFINITIONS.  

        (a)  "Affiliate" means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing, as
those terms are defined in sections 424(e) and (f), respectively, of the Code. 

        (b)  "Board" means the Board of Directors of the Company. 

        (c)  "Code" means the Internal Revenue Code of 1986, as amended. 

        (d)  "Committee" means a Committee appointed by the Board in accordance with subsection 3(c) of the Plan. 

        (e)  "Common Stock" means the common stock of the Company. 

        (f)    "Company" means Simpson Manufacturing Co., Inc., a Delaware corporation. 

        (g)  "Consultant" means any person, including an advisor, engaged by the Company or an Affiliate to render consulting services
and who is compensated for such services; provided that the term "Consultant" shall not include Directors who are paid only a director's fee by the Company or who are not compensated by the Company
for their services as Directors. 

        (h)  "Continuous Status as an Employee, Director or Consultant" means the employment or relationship as a Director or
Consultant is not interrupted or terminated. The Board, in its sole discretion, may determine whether Continuous Status as an Employee, Director or Consultant shall be considered interrupted in the
case of: (i) any leave of absence approved by the Board, including sick leave, military leave or any other personal leave; or (ii) transfers between locations of the Company or between
the Company, Affiliates or their successors. 

        (i)    "Director" means a member of the Board. 

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        (j)    "Employee" means any person, including Officers and Directors, employed by the Company or any Affiliate of the Company.
Neither service as a Consultant or a Director nor payment of a director's fee by the Company shall be sufficient to constitute "employment" by the Company. 

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

        (l)    "Fair Market Value" means the value of the Common Stock as determined in good faith by the Board and in a manner
consistent with section 260.140.50 of Chapter 3 of Title 10 of the California Code of Regulations. 

        (m)  "Incentive Stock Option" means an Option intended to qualify as an incentive stock option within the meaning of
section 422 of the Code and the regulations promulgated thereunder. 

        (n)  "Non-Employee Director" means a Director who satisfies the requirements established from time to time by the
Securities and Exchange Commission for non-employee directors under Rule 16b-3. 

        (o)  "Nonstatutory Stock Option" means an Option not intended to qualify as an Incentive Stock Option. 

        (p)  "Officer" means a person who is an officer of the Company within the meaning of section 16 of the Exchange Act and
the rules and regulations promulgated thereunder. 

        (q)  "Option" means a stock option granted pursuant to the Plan. 

        (r)  "Option Agreement" means a written agreement between the Company and an Optionee evidencing the terms and conditions of
an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan. 

        (s)  "Optioned Stock" means the Common Stock of the Company subject to an Option. 

        (t)    "Optionee" means an Employee, Director or Consultant who holds an outstanding Option. 

        (u)  "Outside Director" means a member of the Board who satisfies the requirements established from time to time for outside
directors under section 162(m) of the Code. 

        (v)  "Plan" means this Simpson Manufacturing Co., Inc. 1994 Stock Option Plan. 

        (w)  "Rule 16b-3" means Rule 16b-3 under the Exchange Act or any successor to
Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan. 

        (x)  "Securities Act" means the Securities Act of 1933, as amended. 

3.    ADMINISTRATION.  

        (a)  The
Plan shall be administered by the Board unless and until the Board delegates administration to a Committee, as provided in subsection 3(c). 

        (b)  The
Board shall have the power, subject to, and within the limitations of, the express provisions of the Plan: 

        (1)  To
determine from time to time which of the persons eligible under the Plan shall be granted Options; when and how each Option shall be granted; whether an Option will
be an Incentive Stock Option or a Nonstatutory Stock Option; the terms and conditions of each Option granted (which need not be identical), including the time or times such Option may be exercised as
a whole or in part; and the number of shares for which an Option shall be granted to each such person; 

        (2)  To
grant Options under the Plan; 

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        (3)  To
construe and interpret the Plan and Options granted under it, and to establish, amend and revoke rules and regulations for its administration. The Board, in the
exercise of this power, may correct any defect, omission or inconsistency in the Plan or in any Option Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan
fully effective; and 

        (4)  To
amend the Plan as provided in section 11. 

        (c)  The
Board may delegate administration of the Plan to a Committee of the Board that will satisfy the requirements of Rule 16b-3. The Committee shall
consist solely of two or more Directors, each of whom is a Non-Employee Director and an Outside Director, who shall be appointed by the Board. Subject to the foregoing, from time to time
the Board may increase the size of the Committee and appoint additional qualified members, remove members (with or without cause) and appoint new members in substitution therefor, or fill vacancies,
however caused. If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board (and
references in this Plan to the Board shall thereafter be to the Committee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan, as may be adopted from time to time
by the Board. The Board may abolish the Committee at any time and revest in the Board the administration of the Plan. Notwithstanding anything in this section 3 to the contrary, the Board or
the Committee may delegate to a committee of one or more members of the Board the authority to grant options to eligible persons who are not then subject to section 16 of the Exchange Act. 

4.    SHARES SUBJECT TO THE PLAN.  

        (a)  Subject
to the provisions of section 10 relating to adjustments on changes in stock, the stock that may be sold pursuant to Options shall not exceed in the
aggregate 4,000,000 shares of the Common Stock. If any Option shall for any reason expire or otherwise terminate, as a whole or in part, without having been exercised in full, the stock not purchased
under such Option shall revert to and again become available for issuance under the Plan. 

        (b)  The
stock subject to the Plan may be unissued shares or reacquired shares, bought on the market or otherwise. 

5.    ELIGIBILITY.  

        (a)  Incentive
Stock Options may be granted only to Employees. Nonstatutory Stock Options may be granted only to Employees, Directors or Consultants. 

        (b)  No
person shall be eligible for the grant of an Option if, at the time of grant, such person owns (or is deemed to own pursuant to section 424(d) of the Code)
stock possessing more than ten percent of the total combined voting power of all classes of stock of the Company or of any of its Affiliates unless the exercise price of such Option is at least
110 percent of the Fair Market Value of such stock at the date of grant and the Option is not exercisable after the expiration of five years from the date of grant. 

6.    OPTION PROVISIONS.  

        Each Option shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. The provisions of separate Options need not be
identical, but each Option shall include (through incorporation of provisions hereof by reference in the Option Agreement or 

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otherwise), except as the Board may otherwise determine in the specific case, the substance of each of the following provisions: 

        (a)    Term of Options.    No Option shall be exercisable after the expiration of ten years from the date it is
granted. 

        (b)    Price.    The exercise price of each Incentive Stock Option shall be not less than 100 percent of the
Fair Market Value of the stock subject to the Option on the date the Option is granted. 

        (c)    Consideration.    The purchase price of stock acquired pursuant to an Option shall be paid, to the extent
permitted by applicable statutes and regulations, either (i) in cash at the time the Option is exercised, or (ii) in the absolute discretion of the Board or the Committee (which
discretion may be exercised in a particular case without regard to any other case or cases), at the time of the grant or thereafter, (A) by the withholding of shares of Common Stock issuable on
exercise of the Option or delivery to the Company of other Common Stock of the Company, (B) according to a deferred payment or other arrangement (which may include, without limiting the
generality of the foregoing, the use of other Common Stock of the Company) with the person to whom the Option is granted or to whom the
Option is transferred pursuant to subsection 6(d), or (C) in any other form of legal consideration that may be acceptable to the Board. 

        In
the case of any deferred payment arrangement, interest shall be payable at least annually and shall be charged at the minimum rate of interest necessary to avoid the treatment as
interest, under any applicable provisions of the Code, of any amounts other than amounts stated to be interest under the deferred payment arrangement, or if less, the maximum rate permitted by law. 

        (d)    Transferability.    An Option shall not be sold, assigned, transferred, pledged, hypothecated or otherwise
disposed by the Optionee during his or her lifetime, whether by operation of law or otherwise, other than by will or the laws of descent and distribution applicable to such Optionee, or be made
subject to execution, attachment or similar process; provided that the Board may in its discretion at the time of approval of the grant of an Option or thereafter permit an Option to be transferred by
an Optionee to a trust or other entity established by the Optionee for estate planning purposes, and may permit further transferability, or impose conditions or limitations on any permitted
transferability. An Option shall otherwise be exercisable during the lifetime of the person to whom the Option is granted only by such person. 

        (e)    Vesting.    The total number of shares of stock subject to an Option may, but need not, be allotted in periodic
installments (which may, but need not, be equal). An Option Agreement may provide that from time to time during each of such installment periods, the Option may become exercisable ("vest") with
respect to some or all of the shares allotted to that period, and may be exercised with respect to some or all of the shares allotted to such period or any prior period as to which the Option shall
have become vested but shall not have been fully exercised. An Option may be subject to such other terms and conditions on the time or times when it may be exercised (which may be based on performance
or other criteria) as the Board may deem appropriate. The vesting provisions may vary among Options, but in each case will provide for vesting of at least twenty percent per year of the total number
of shares subject to the Option. 

        (f)    Conditions On Exercise of Options and Issuance of Shares.    

        (1)  Shares
shall not be issued on exercise of an Option unless the exercise of such Option and the delivery of such Shares pursuant thereto shall comply with all applicable
laws and regulations, including, without limitation, the Securities Act, the Exchange Act, the rules and regulations promulgated thereunder and the requirements of any stock exchange on which the
Common Stock may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 

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        (2)  The
Company may require any Optionee, or any person to whom an Option is transferred under subsection 6(d), as a condition of exercising an Option, (1) to give
written assurances satisfactory to the Company as to the Optionee's knowledge and experience in financial and business matters or to employ a purchaser representative reasonably satisfactory to the
Company who is knowledgeable and experienced in financial and business matters, and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks
of exercising the Option; and (2) to give written assurances satisfactory to the Company stating that such person is acquiring the stock subject to the Option for such person's own account and
not with any present intention of selling or otherwise distributing the stock. The foregoing requirements, and any assurances given pursuant to such requirements, shall be inapplicable if
(i) the issuance of the shares on the exercise of the Option has been registered under a then currently effective registration statement under the Securities Act, or (ii) as to any
particular requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then applicable securities laws. The Company may, with
advice of its counsel, place such legends on stock certificates issued under the Plan as the Company deems necessary or appropriate to comply with applicable securities laws, including, but not
limited to, legends restricting the transfer of the stock. 

        (g)    Termination of Employment or Relationship as a Director or Consultant.    If an Optionee's Continuous Status as
an Employee, Director or Consultant terminates (other than on the Optionee's death or disability), the Optionee may exercise his or her Option (to the extent that the Optionee shall have been entitled
to exercise it at the date of termination) but only within the period ending on the earlier of (i) the ninetieth day after the termination of the Optionee's Continuous Status as an Employee,
Director or Consultant (or such longer or shorter period, which in no event shall be less than thirty days, specified in the Option Agreement), or (ii) the expiration of the term of the Option
as set forth in the Option Agreement. If, after termination, the Optionee does not exercise his or her Option within the time specified in the Option Agreement, the Option shall terminate, and the
shares covered by such Option shall revert to and again become available for issuance under the Plan. 

        (h)    Disability of Optionee.    If an Optionee's Continuous Status as an Employee, Director or Consultant terminates
as a result of the Optionee's disability, the Optionee may exercise his or her Option (to the extent that the Optionee shall have been entitled to exercise it at the date of termination), but only
within the period ending on the earlier of (i) the first anniversary of such termination (or such longer or shorter period, which in no event shall be less than six months, specified in the
Option Agreement), or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, at the date of termination, the Optionee is not entitled to exercise his or her
entire Option, the shares covered by the unexercisable portion of the Option shall revert to and again become available for issuance under the Plan. If, after termination, the Optionee does not
exercise his or her Option within the time specified herein, the Option shall terminate, and the shares covered by such Option shall revert to and again become available for issuance under the Plan. 

        (i)    Death of Optionee.    If of an Optionee dies during, or within a period specified in the Option after the
termination of, the Optionee's Continuous Status as an Employee, Director or Consultant, the Option may be exercised (to the extent that the Optionee shall have been entitled to exercise the Option at
the date of death) by the Optionee's estate or by a person who shall have acquired the right to exercise the Option by bequest or inheritance, but only within the period ending on the earlier of
(i) the one hundred eightieth day after the first anniversary of the date of death (or such longer or shorter period, which in no event shall be less than six months, specified in the Option
Agreement), or (ii) the expiration of the term of such Option as set forth in the Option Agreement. If, at the time of death,
the Optionee is not entitled to exercise his or her entire Option, the shares covered by the unexercisable portion of the Option shall revert to and again become available for issuance under the Plan.
If, after death, the Optionee's estate or a person who shall have acquired the right to exercise the 

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Option by bequest or inheritance does not exercise the Option within the time specified herein, the Option shall terminate, and the shares covered by such Option shall revert to and again become
available for issuance under the Plan. 

        (j)    Exemptions.    Notwithstanding subsections (g), (h) and (i) above, the Board shall have the
authority to extend the expiration date of any outstanding Option in circumstances in which it deems such action to be appropriate (provided that no such extension shall extend the term of an Option
beyond the date of expiration of the term of such Option as set forth in the Option Agreement). 

        (k)    Early Exercise.    The Option may, but need not, include a provision whereby the Optionee may elect at any time
while an Employee, Director or Consultant to exercise the Option as to any part or all of the shares subject to the Option prior to the full vesting of the Option. Any unvested shares so purchased
shall be subject to a repurchase right in favor of the Company, with the repurchase price to be equal to the original purchase price of the stock, or to any other restriction the Board determines to
be appropriate; provided that the right to repurchase at the original purchase price shall lapse at a minimum rate of twenty percent per year over five years from the date the Option is granted and
such right shall be exercised within ninety days of termination of employment for cash or cancellation of purchase money indebtedness for the shares. Should the right of repurchase be assigned by the
Company, the assignee shall pay the Company cash equal to the difference between the original purchase price and the stock's Fair Market Value if the original purchase price is less than the stock's
Fair Market Value. 

        (l)    Withholding.    To the extent approved by the Board in the specific case, at the time of approval of the grant
of the Option or thereafter, the Optionee may satisfy any Federal, state or local tax withholding obligation relating to the exercise of such Option by any of the following means or by a combination
of such means: (l) tendering a cash payment; (2) authorizing the Company to withhold shares from the shares of the Common Stock otherwise issuable to the Optionee as a result of the
exercise of the Option; or (3) delivering to the Company owned and unencumbered shares of the Common Stock of the Company. The value of shares withheld or delivered shall equal the Fair Market
Value of the shares on the day the Option is exercised. 

7.    COVENANTS OF THE COMPANY.  

        (a)  During
the terms of the Options, the Company shall keep available at all times the number of shares of Common Stock required to satisfy such Options. 

        (b)  The
Company shall seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to issue and sell shares
of stock on exercise of the Options; provided that this undertaking shall not require the Company to register under the Securities Act either the Plan, any Option or any stock issued or issuable
pursuant to any such Option. If, after reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority that counsel for the Company deems necessary for
the lawful issuance and sale of stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell stock on exercise of such Options unless and until such authority
is obtained. 

8.    USE OF PROCEEDS FROM STOCK.  

        Proceeds from the sale of stock pursuant to Options shall constitute general funds of the Company. 

9.    MISCELLANEOUS.  

        (a)  Neither
an Optionee nor any person to whom an Option is transferred under subsection 6(d) shall be deemed to be the holder of, or to have any of the rights of a holder
with respect to, any shares 

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subject to such Option unless and until such person has satisfied all requirements for exercise of the Option pursuant to its terms. No adjustment will be made for dividends or other rights for which
the record date is prior to the date of satisfaction of all such requirements. 

        (b)  Throughout
the term of any Option, the Company shall deliver to the holder of such Option, not later than 120 days after the close of each of the Company's fiscal
years during the Option term, a balance sheet and an income statement. This section shall not apply when issuance is limited to key employees whose duties in connection with the Company assure them
access to equivalent information. 

        (c)  Nothing
in the Plan or any instrument executed or Option granted or other action taken pursuant thereto shall confer on any Employee, Director, Consultant or Optionee
any right to continue in the employ of the Company or any Affiliate (or to continue acting as a Director or Consultant) or shall affect the right of the Company or any Affiliate to terminate the
employment or relationship as a Director or Consultant of any Employee, Director, Consultant or Optionee with or without cause. 

        (d)  To
the extent that the aggregate Fair Market Value (determined at the time of grant) of stock with respect to which Incentive Stock Options are exercisable for the first
time by any Optionee during any calendar year under all plans of the Company and its Affiliates exceeds $100,000, the Options or portions thereof in excess of such limit (according to the order in
which they are granted) shall be treated as Nonstatutory Stock Options. 

10.    ADJUSTMENTS ON CHANGES IN STOCK.  

        (a)  If
any change is made in the stock subject to the Plan, or subject to any Option (through merger, consolidation, reclassification, reorganization, recapitalization,
stock dividend, dividend in property other than cash, stock split or reverse stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or otherwise),
the Plan and outstanding Options will be appropriately adjusted by the Board in the class(es) and maximum number of shares subject to the Plan and the class(es) and number of shares and price per
share of stock subject to outstanding Options. 

        (b)  In
the event of: (1) a merger or consolidation in which the Company is not the surviving corporation or (2) a reverse merger in which the Company is the
surviving corporation but the shares of the Common Stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities, cash
or otherwise then to the extent permitted by applicable law: (i) any surviving corporation shall assume any Options outstanding under the Plan or shall substitute similar options for those
outstanding under the Plan, or (ii) such Options shall continue in full force and effect. If any surviving corporation refuses to assume or continue such Options, or to substitute similar
options for those outstanding under the Plan, then such Options shall be terminated if not exercised prior to such event. In the event of a dissolution or liquidation of the Company, any Options
outstanding under the Plan shall terminate if not exercised prior to such event. 

11.    AMENDMENT OF THE PLAN.  

        (a)  The
Board at any time or from time to time shall have the right to amend, modify, suspend or terminate the Plan for any reason; provided that the Company will seek
stockholder approval for any change if and to the extent required by applicable law, regulation or rule. 

        (b)  It
is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide Optionees with the maximum benefits
provided or to be provided under the Code and the regulations promulgated thereunder relating to Incentive Stock Options or to cause the Plan or Incentive Stock Options granted under it to comply
therewith. 

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        (c)  Rights
and obligations under any Option granted before amendment of the Plan shall not be altered or impaired by any amendment of the Plan, unless (i) the Company
requests the consent of the person to whom the Option shall have been granted and (ii) such person consents in writing. 

12.    TERMINATION OR SUSPENSION OF THE PLAN.  

        (a)  The
Board may suspend or terminate the Plan at any time. Unless sooner terminated, the Plan shall terminate on May 28, 2012. No Options may be granted under the
Plan while the Plan is suspended or after it is terminated. 

        (b)  Rights
and obligations under any Option granted while the Plan is in effect shall not be altered or impaired by suspension or termination of the Plan, except with the
consent of the person to whom the Option shall have been granted. 

13.    EFFECTIVE DATE OF PLAN.  

        The Plan shall become effective as determined by the Board, but no Options granted under the Plan shall be exercised unless and until the Plan shall have been
approved by the shareholders of the Company, which approval shall be within twelve months before or after the date the Plan is adopted by the Board, and, if required, an appropriate permit shall have
been issued by the Commissioner of Corporations of the State of California. 

14.    COMPLIANCE WITH SECTION 16 OF THE EXCHANGE ACT.  

        It is the Company's intent that the Plan comply in all respects with Rule 16b-3. If any provision of this Plan is found not to be in compliance
with Rule 16b-3, that provision shall be deemed to have been amended or deleted as and to the extent necessary to comply with Rule 16b-3, and the remaining
provisions of the Plan shall continue in full force and effect, without change. All transactions under the Plan shall be executed in accordance with the requirements of Section 16 of the
Exchange Act and the applicable regulations promulgated thereunder. 

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SIMPSON MANUFACTURING CO., INC. 1994 STOCK OPTION PLAN Adopted February 23, 1994 and Amended through July 29, 2002<PAGE>

                                                                    Exhibit 10.1

                                 EMC CORPORATION

                 1985 STOCK OPTION PLAN, as amended June 7, 2002

1. PURPOSE.

     The purpose of the EMC Corporation 1985 Stock Option Plan is to enable EMC
Corporation to provide a special incentive to a limited number of key employees
of the Company and its Subsidiaries, if any, who are in a position to have a
significant effect upon the Company's business and earnings. In order to
accomplish this purpose, the Plan authorizes the grant to such key employees of
options to purchase Common Stock of the Company. Increased ownership of Common
Stock will provide such key employees with an additional incentive to take into
account the long-term interests of the Company.

2. DEFINITIONS.

     As used herein, the following words or terms have the meanings set forth
below. The masculine gender is used throughout the Plan but is intended to apply
to members of both sexes.

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

     2.2 "Code" means the Internal Revenue Code of 1986, as amended from time to
time, or any successor statute.

     2.3 "Committee" means the Committee appointed by the Board of Directors to
administer the Plan or the Board of Directors as a whole if no appointment is
made.

     2.4 "Common Stock" means the Common Stock of the Company.

     2.5 "Company" means EMC Corporation, a corporation established under the
laws of The Commonwealth of Massachusetts.

     2.6 "Fair Market Value" in the case of a share of Common Stock on a
particular day, means the fair market value as determined from time to time by
the Board of Directors or, where appropriate, by the Committee, taking into
account all information which the Board of Directors, or the Committee,
considers relevant.

     2.7 "Incentive Stock Option" means a stock option that satisfies the
requirements of Section 422 of the Code.

<PAGE>

     2.8 "Participant" means an individual holding a stock option or stock
options granted to him under the Plan.

     2.9 "Plan" means the EMC Corporation 1985 Stock Option Plan set forth
herein.

     2.10 "Subsidiary" or "Subsidiaries" means a corporation or corporations in
which the Company owns, directly or indirectly, stock possessing 50 percent or
more of the total combined voting power of all classes of stock.

     2.11 "Ten Percent Stockholder" means any person who, at the time an option
is granted, owns or is deemed to own stock (as determined in accordance with
Sections 422 and 424 of the Code) possessing more than ten percent (10%) of the
total combined voting power of all classes of stock of the Company or its parent
or a subsidiary.

3. ADMINISTRATION.

     3.1 The Plan shall be administered by the Committee and, to the extent
provided herein, the Board of Directors. A majority of the members of the
Committee shall constitute a quorum, and all determinations of the Committee
shall be made by a majority of its members. Any determination of the Committee
under the Plan may be made without notice or meeting of the Committee by a
writing signed by a majority of the Committee members.

     3.2 Subject to the provisions set forth herein, each of the Committee and
the Board of Directors shall have full authority to determine the provisions of
options to be granted under the Plan. Subject to the provisions set forth
herein, the Committee shall have full authority to interpret the terms of the
Plan and of options granted under the Plan, to adopt, amend and rescind rules
and guidelines for the administration of the Plan and for its own acts and
proceedings and to decide all questions and settle all controversies and
disputes which may arise in connection with the Plan; PROVIDED, HOWEVER, that
any change to the terms of an option granted hereunder shall be approved by the
Board of Directors to the extent such change would be deemed to be a new option
grant or such terms relate to a subsequent transaction that would not be exempt
from Section 16(b) of the Securities Exchange Act of 1934 in the absence of such
approval.

     3.3 The decision of the Committee or the Board of Directors, as applicable,
on any matter as to which the Committee or the Board of Directors, as
applicable, is given authority under subsection 3.2 shall be final and binding
on all persons concerned.

     3.4 Nothing in the Plan shall be deemed to give any officer or employee, or
his legal representatives or assigns, any right to participate in the Plan,
except to such

                                       2
<PAGE>

extent, if any, as the Committee or the Board, as applicable, may have
determined or approved pursuant to the provisions of the Plan.

4. SHARES SUBJECT TO THE PLAN.

     4.1 The maximum number of shares of Common Stock that may be delivered upon
the exercise of options granted under the Plan shall be 288,000,000, subject to
adjustment in accordance with the provisions of Section 8.

     4.2 If any option granted under the Plan terminates without having been
exercised in full (including an option which terminates by agreement between the
Company and the Participant), the number of shares of Common Stock as to which
such option has not been exercised prior to termination shall be available for
future grants within the limits set forth in subsection 4.1.

     4.3 Shares of Common Stock delivered upon the exercise of options shall
consist of shares of authorized and unissued Common Stock, except that the Board
of Directors may from time to time in its discretion determine in any case the
shares to be so delivered shall consist of shares of authorized and issued
Common Stock reacquired by the Company and held in its Treasury. No fractional
shares of Common Stock shall be delivered upon the exercise of an option.

5. ELIGIBILITY FOR OPTIONS.

     Employees eligible to receive options under the Plan shall be those key
employees of the Company and its Subsidiaries, if any, who, in the opinion of
the Committee, are in a position to have a significant effect upon the Company's
business and earnings. Members of the Board of Directors of the Company or a
Subsidiary who are not employed as regular salaried officers or employees of the
Company or a Subsidiary may not participate in the Plan.

6. GRANT OF OPTIONS.

     6.1 From time to time while the Plan is in effect, each of the Committee
and the Board of Directors may, in its absolute discretion, select from among
the persons eligible to receive options (including persons to whom options were
previously granted) those persons to whom options are to be granted.

     6.2 Each of the Committee and the Board of Directors shall, in its absolute
discretion, determine the number of shares of Common Stock to be subject to each
option granted by it under the Plan.

     6.3 No Incentive Stock Option may be granted under the Plan after May 16,
1995, but options theretofore granted may extend beyond that date.

                                       3
<PAGE>

7. PROVISIONS OF OPTIONS.

     7.1 INCENTIVE STOCK OPTIONS OR OTHER OPTIONS. Options granted under the
Plan may be either Incentive Stock Options or options which do not qualify as
Incentive Stock Options, as the Committee or the Board of Directors shall
determine at the time of each grant of options hereunder.

     7.2 STOCK OPTION CERTIFICATES OR AGREEMENTS. Options granted under the Plan
shall be evidenced by certificates or agreements in such form as the Committee
shall from time to time approve. Such certificates or agreements shall comply
with the terms and conditions of the Plan and may contain such other provisions
not inconsistent with the terms and conditions of the Plan as the Committee
shall deem advisable. In the case of options intended to qualify as Incentive
Stock Options, the certificates or agreements shall contain such provisions
relating to exercise and other matters as are required of incentive stock
options under the Code.

     7.3 TERMS AND CONDITIONS. All options granted under the Plan shall be
subject to the following terms and conditions to the extent applicable and to
such other terms and conditions not inconsistent therewith as the Committee or
the Board of Directors shall determine:

          7.3.1 Exercise Price. The exercise price per share of Common Stock
     with respect to each option shall be as determined by the Committee but in
     the case of an Incentive Stock Option not less than 100% (110% in the case
     of an Incentive Stock Option granted to a Ten Percent Stockholder) of the
     Fair Market Value per share at the time the option is granted. In the case
     of an option which does not qualify as an Incentive Stock Option, the
     exercise price per share of Common Stock shall be not less than par value.
     However, for those employees subject to Section 16 of the Securities
     Exchange Act of 1934, the per share exercise price for an option which does
     not qualify as an Incentive Stock Option shall not be less than 50% of the
     Fair Market Value at the time the option is granted.

          7.3.2 VALUE OF SHARES OF COMMON STOCK SUBJECT TO INCENTIVE STOCK
     OPTIONS. Each eligible employee may be granted Incentive Stock Options only
     to the extent that, in the aggregate under this Plan and all incentive
     stock option plans of the Company and any related corporation, such
     Incentive Stock Options do not become exercisable for the first time by
     such employee during any calendar year in a manner which would entitle the
     employee to purchase more than $100,000 in fair market value (determined at
     the time the Incentive Stock Options were granted) of Common Stock in that
     year. Any options granted to any employee in excess of such amount will be
     granted as Non-Qualified Options.

                                       4
<PAGE>

          7.3.3 PERIOD OF OPTIONS. An option shall be exercisable during such
     period of time as the Committee or the Board of Directors may specify
     (subject to subsection 7.4 below), but in the case of an Incentive Stock
     Option not after the expiration of ten years (five years in the case of an
     Incentive Stock Option granted to a Ten Percent Stockholder) from the date
     the option is granted.

          7.3.4 EXERCISE OF OPTIONS.

               7.3.4.1 Each option shall be made exercisable at such time or
          times as the Committee or the Board of Directors shall determine. In
          the case of an option made exercisable in installments, the Committee
          or the Board of Directors may later determine to accelerate the time
          at which one or more of such installments may be exercised.

               7.3.4.2 Any exercise of an option shall be in writing signed by
          the proper person and delivered or mailed to the General Counsel of
          the Company, accompanied by an option exercise notice and payment in
          full for the number of shares in respect to which the option is
          exercised.

               7.3.4.3 In the event an option is exercised by the executor or
          administrator of a deceased Participant, or by the person or persons
          to whom the option has been transferred by the Participant's will or
          the applicable laws of descent and distribution, the Company shall be
          under no obligation to deliver stock thereunder until the Company is
          satisfied that the person or persons exercising the option is or are
          the duly appointed executor or administrator of the deceased
          Participant or the person or persons to whom the option has been
          transferred by the Participant's will or by the applicable laws of
          descent and distribution.

               7.3.4.4 The Committee or the Board of Directors may at the time
          of grant condition the exercise of an option upon agreement by the
          Participant to subject the Common Stock to any restrictions on
          transfer or repurchase rights in effect on the date of exercise, upon
          representations of continued employment and upon other terms not
          inconsistent with this Plan. Any such conditions shall be set forth in
          the option certificate or other document evidencing the option.

               7.3.4.5 In the case of an option that is not an Incentive Stock
          Option, the Committee shall have the right to require that the
          individual exercising the option to remit to the Company an amount
          sufficient to satisfy any federal, state, or local withholding tax
          requirements (or makes other arrangements satisfactory to the Company
          with regard to such taxes) prior to the delivery of any Common Stock
          pursuant to the exercise of the option. In the case of an Incentive
          Stock Option, if at the time the Incentive Stock Option is exercised
          the Committee determines

                                       5
<PAGE>

          that under applicable law and regulations the Company could be liable
          for the withholding of any federal or state tax with respect to a
          disposition of the Common Stock received upon exercise, the Committee
          may require as a condition of exercise that the individual exercising
          the Incentive Stock Option agree (i) to inform the Company promptly of
          any disposition (within the meaning of Section 422 (a) (1) of the Code
          and the regulations thereunder) of Common Stock received upon
          exercise, and (ii) to give such security as the Committee deems
          adequate to meet the potential liability of the Company for the
          withholding of tax, and to augment such security from time to time in
          any amount reasonably deemed necessary by the Committee to preserve
          the adequacy of such security.

               7.3.4.6 In the case of an option that is exercised by an
          individual that is subject to taxation in a foreign jurisdiction, the
          Committee shall have the right to require the individual exercising
          the option to remit to the Company an amount sufficient to satisfy any
          federal or withholding requirement of that foreign jurisdiction (or
          make other arrangements satisfactory to the Company with regard to
          such taxes prior to the delivery of any Common Stock pursuant to the
          exercise of the option).

          7.3.5 PAYMENT FOR AND DELIVERY OF STOCK. The shares of stock purchased
     on any exercise of an option granted hereunder shall be paid for in full in
     cash or, if permitted by the terms of the option, in shares of unrestricted
     Common Stock at the time of such exercise or, if so permitted, a
     combination of such cash and Common Stock. A Participant shall not have the
     rights of a stockholder with respect to awards under the Plan except as to
     stock actually issued to him.

          7.3.6 LISTING OF STOCK, WITHHOLDING AND OTHER LEGAL REQUIREMENTS. The
     Company shall not be obligated to deliver any stock until all federal and
     state laws and regulations which the Company may deem applicable have been
     complied with, nor, in the event the outstanding Common Stock is at the
     time listed upon any stock exchange, until the stock to be delivered has
     been listed or authorized to be added to the list upon official notice of
     issuance to such exchange. In addition, if the shares of stock subject to
     any option have not been registered in accordance with the Securities Act
     of 1933, as amended, the Company may require the person or persons who
     wishes or wish to exercise such option to make such representation or
     agreement with respect to the sale of stock acquired on exercise of the
     option as will be sufficient, in the opinion of the Company's counsel, to
     avoid violation of said Act, and may also require that the certificates
     evidencing said stock bear an appropriate restrictive legend.

          7.3.7 NON-TRANSFERABILITY OF OPTIONS. No option may be transferred by
     the Participant otherwise than by will, by the laws of descent and
     distribution or

                                       6
<PAGE>

     pursuant to a qualified domestic relations order, and during the
     Participant's lifetime the option may be exercised only by him or her;
     PROVIDED, HOWEVER, that the Board of Directors or the Committee, as
     applicable, in its discretion, may allow for transferability of
     non-qualified stock options by the Participant to "Immediate Family
     Members". Immediate Family Members means children, grandchildren, spouse or
     common law spouse, siblings or parents of the Participant or to bona fide
     trusts, partnerships or other entities controlled by and of which the
     beneficiaries are Immediate Family Members of the Participant. Any option
     grants that are transferable are further conditioned on the Participant and
     Immediate Family Members agreeing to abide by the Company's then current
     stock option transfer guidelines.

          7.3.8 DEATH. If a Participant dies at a time when he is entitled to
     exercise an Incentive Stock Option, then at any time or times within three
     years after his death such Incentive Stock Option may be exercised, as to
     all or any of the shares which the Participant was entitled to purchase
     thereunder immediately prior to his death, by his executor or administrator
     or the person or persons to whom the Incentive Stock Option is transferred
     by will or the applicable laws of descent and distribution, and except as
     so exercised such Incentive Stock Option shall expire at the end of such
     three-year period. In no event, however, may any Incentive Stock Option
     granted under the Plan be exercised after the expiration of ten years (five
     years in the case of an Incentive Stock Option granted to a Ten Percent
     Stockholder) from the date the Incentive Stock Option was granted.

          7.3.9 TERMINATION OF EMPLOYMENT. If the employment of a Participant
     terminates for any reason other than his death, all options held by the
     Participant shall thereupon expire on the date of termination unless the
     option by its terms, or the Committee or the Board of Directors by
     resolution, shall allow the Participant to exercise any or all of the
     options held by him after termination. In the case of an Incentive Stock
     Option, the Incentive Stock Option shall in any event expire at the end of
     three months after such termination of employment, or after the expiration
     of ten years (five years in the case of an Incentive Stock Option granted
     to a Ten Percent Stockholder) from the date the Incentive Stock Option was
     granted, whichever occurs first. If the Committee or the Board of Directors
     so decides, an option may provide that a leave of absence granted by the
     Company or Subsidiary is not a termination of employment for the purpose of
     this subsection 7.3.9, and in the absence of such a provision the Committee
     may in any particular case determine that such a leave of absence is not a
     termination of employment for such purpose. The Committee shall also
     determine all other matters relating to continuous employment.

          7.3.10 CANCELLATION AND RESCISSION OF OPTIONS. The following
     provisions of this Section 7.3.10 shall apply to options granted on or
     after July 1, 1998 to (i) Participants who are classified by the Company or
     a Subsidiary as

                                       7
<PAGE>

     an executive officer, senior officer, or officer (collectively, an
     "Officer") of the Company or a Subsidiary; and (ii) certain other
     Participants designated by the Committee or the Board of Directors to be
     subject to the terms of this Section 7.3.10 (such designated Participants
     together with Officers referred to collectively as "Senior Participants").
     The Committee or the Board of Directors may cancel, rescind, suspend or
     otherwise limit or restrict any unexpired option at any time if the Senior
     Participant engages in "Detrimental Activity" (as defined below).
     Furthermore, in the event a Senior Participant engages in Detrimental
     Activity at any time prior to or during the six months after any exercise
     of an option, such exercise may be rescinded until the later of (i) two
     years after such exercise or (ii) two years after such Detrimental
     Activity. Upon such rescission, the Company at its sole option may require
     the Senior Participant to (i) deliver and transfer to the Company the
     shares of Common Stock received by the Senior Participant upon such
     exercise, (ii) pay to the Company an amount equal to any realized gain
     received by the Senior Participant from such exercise, or (iii) pay to the
     Company an amount equal to the market price (as of the exercise date) of
     the Common Stock acquired upon such exercise minus the respective exercise
     price. The Company shall be entitled to set-off any such amount owed to the
     Company against any amount owed to the Senior Participant by the Company.
     As used in this subsection 7.3.10, "Detrimental Activity"shall include: (i)
     the failure to comply with the terms of the Plan or certificate or
     agreement evidencing the option; (ii) the failure to comply with any term
     set forth in the Company's Key Employee Agreement (irrespective of whether
     the Senior Participant is a party to the Key Employee Agreement); (iii) any
     activity that results in termination of the Senior Participant's employment
     for cause; (iv) a violation of any rule, policy, procedure or guideline of
     the Company; or (v) the Senior Participant being convicted of, or entering
     a guilty plea with respect to a crime whether or not connected with the
     Company. Further, if the Company commences an action against such Senior
     Participant (by way of claim or counterclaim and including declaratory
     claims), in which it is preliminarily or finally determined that such
     Senior Participant engaged in Detrimental Activity or otherwise violated
     this Section 7.3.10, the Senior Participant shall reimburse the Company for
     all costs and fees incurred in such action, including but not limited to,
     the Company's reasonable attorneys' fees.

          7.3.11 JURISDICTION AND GOVERNING LAW. The parties submit to the
     exclusive jurisdiction and venue of the federal or state courts of the
     Commonwealth of Massachusetts to resolve issues that may arise out of or
     relate to the Plan or the same subject matter. The Plan shall be governed
     by the laws of the Commonwealth of Massachusetts, excluding its conflicts
     or choice of law rules or principles that might otherwise refer
     construction or interpretation of this Plan to the substantive law of
     another jurisdiction.

                                       8
<PAGE>

     7.4 AUTHORITY OF THE COMMITTEE. The Committee shall have the authority,
either generally or in particular instances, to waive compliance by a
Participant with any obligation to be performed by him under an option and to
waive any condition or provision of an option, except that the Committee may not
(i) increase the total number of shares covered by any Incentive Stock Option
(except in accordance with Section 8), (ii) reduce the option price per share of
any Incentive Stock Option (except in accordance with Section 8) or (iii) extend
the term of any Incentive Stock Option to more than ten years, subject, however,
to the provisions of Section 10.

8. CHANGES IN STOCK.

     In the event of a stock dividend, stock split or other change in corporate
structure or capitalization affecting the Common Stock that becomes effective
after the adoption of the Plan by the Board of Directors, the Committee shall
make appropriate adjustments in (i) the number and kind of shares of stock on
which options may thereafter be granted hereunder, (ii) the number and kind of
shares of stock remaining subject to each option outstanding at the time of such
change and (iii) the option price. The Committee's determination shall be
binding on all persons concerned. Subject to any required action by the
stockholders, if the Company shall be the surviving corporation in any merger or
consolidation (other than a merger or consolidation in which the Company
survives but in which a majority of its outstanding shares are converted into
securities of another corporation or are exchanged for other consideration), any
option granted hereunder shall pertain and apply to the securities which a
holder of the number of shares of stock of the Company then subject to the
option would have been entitled to receive, but a dissolution or liquidation of
the Company or a merger or consolidation in which the Company is not the
surviving corporation or in which a majority of its outstanding shares are so
converted or exchanged shall cause every option hereunder to terminate; provided
that if any such dissolution, liquidation, merger or consolidation is
contemplated, the Company shall either arrange for any corporation succeeding to
the business and assets of the Company to issue to the Participants replacement
options (which, in the case of Incentive Stock Options, satisfy, in the
determination of the Committee, the requirements of Section 424 of the Code) on
such corporation's stock which will to the extent possible preserve the value of
the outstanding options or shall make the outstanding options fully exercisable
at least 20 days before the effective date of any such dissolution, liquidation,
merger or consolidation. The existence of the Plan shall not prevent any such
change or other transaction and no Participant thereunder shall have any right
except as herein expressly set forth.

9. EMPLOYMENT RIGHTS.

     Neither the adoption of the Plan nor any grant of options confers upon any
employee of the Company or a Subsidiary any right to continued employment with
the Company or a Subsidiary, as the case may be, nor does it interfere in any
way with the

                                       9
<PAGE>

right of the Company or a Subsidiary to terminate the employment of
any of its employees at any time.

10. DISCONTINUANCE, CANCELLATION, AMENDMENT AND TERMINATION.

     The Committee or the Board of Directors may at any time discontinue
granting options under the Plan and, with the consent of the Participant, may at
any time cancel an existing option in whole or in part and grant another option
to the Participant for such number of shares as the Committee or the Board of
Directors specifies. The Board of Directors may at any time or times amend the
Plan for the purpose of satisfying the requirements of any changes in applicable
laws or regulations or for any other purpose which may at the time be permitted
by law or may at any time terminate the Plan as to any further grants of
options, provided that no such amendment shall without the approval of the
stockholders of the Company (a) increase the maximum number of shares available
under the Plan, (b) change the group of employees eligible to receive options
under the Plan, (c) reduce the exercise price of outstanding incentive options
or reduce the price at which incentive options may be granted, (d) extend the
time within which options may be granted, (e) alter the Plan in such a way that
incentive options granted or to be granted hereunder would not be considered
incentive stock options under Section 422 of the Code, or (f) amend the
provisions of this Section 10, and no such amendment shall adversely affect the
rights of any employee (without his consent) under any option previously
granted.

11. EFFECTIVE DATE.

     The Plan shall become effective upon its adoption by the Board of
Directors, and options may be granted under the Plan from and after the date of
such adoption; provided, however, that if prior to May 16, 1986 the stockholders
of the Company have not approved the Plan, the Plan shall terminate to the
extent that it relates to the issuance of Incentive Stock Options and all
Incentive Stock Options theretofore granted shall terminate and cease to be of
any force or effect. No Incentive Stock Option granted hereunder shall be
exercisable unless and until the Plan has been so approved.

                                       10

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