Document:

Exhibit 10(h)

                             MASTER PROMISSORY NOTE

Maximum Principal
Amount:  $2,500,000.00                                  Date:   January 25, 2002

         FOR VALUE RECEIVED, the undersigned (the "Borrower") promises to pay to
the order of  SCOTIABANK  DE PUERTO  RICO (the  "Bank")  at its  Lending  Office
located at 273 Ponce de Leon Avenue,  Hato Rey,  Puerto Rico, in lawful money of
the United States of America the lesser of:

                  the principal sum of $2,500,000 or

                  the unpaid principal  balance of all Advances made by the Bank
                  as recorded on the grid or schedule attached hereto,  together
                  with accrued interest on the principal amount.

         1.  Definitions.
             ------------

         For purposes of this note the following  terms shall have the following
meanings:

         "Adjusted LIBOR" means the rate of interest per annum at which deposits
of equal (or like) amounts in United States dollars are offered by the principal
office of The Bank of Nova  Scotia in  London,  England,  to prime  banks in the
London  interbank  market at 11:00 a.m.  (London  time),  two (2) Business  Days
before  the  first  day of each  Interest  Period,  for a  period  equal to such
Interest Period,  and adjusted for Federal Deposit  Insurance  Corporation Costs
and Municipal License Tax ("Patente").

         "Advance"  means  a  disbursement  of  Loan  funds  by the  Bank to the
Borrower pursuant to the Commitment Letter dated December 5, 2001 and this note,
and the renewal thereof upon commence ment of each additional Interest Period.

         "Base Rate" means a variable per annum  reference  rate of interest (as
announced  and adjusted by The Bank of Nova Scotia from time to time in the city
of New York) for  United  States  dollar  loans  made by said bank in the United
States and Puerto Rico, without any representation by the Bank that said rate is
the most favorable rate offered by the Bank or by The Bank of Nova Scotia.

         "Commitment Letter" means the Commitment Letter dated as of December 5,
2001  between  the  Bank  and  the  Borrower,   and  including  all  amendments,
modifications and supplements and any exhibits and schedules thereto.

         "Interest  Period" means one of the successive  periods of time between
the date each  Adjusted  LIBOR  Advance is disbursed  (or a Base Rate Advance is
converted into an Adjusted LIBOR Advance),  and the date such Advance is paid in
full (or  converted  into a Base Rate  Advance).  The duration of each  Interest
Period shall be 1, 2 or 3 months,  subject in each case to market  availability,
and as offered by the Bank and selected by the Borrower upon notice  received by
the Bank not later than 10:00 a.m.  (Puerto Rico time) on the first Business Day
of such Interest Period.

         "Loan" means the revolving  credit facility in the principal  amount of
this note granted by the Bank to the Borrower pursuant to the Commitment Letter,
designated therein as the "Operating Loan A", and evidenced by this note.

         All  capitalized  terms  used in this  note and not  otherwise  defined
herein shall have the meanings stated in the Commitment Letter.

<PAGE>

                                               $2,500,000 Master Promissory Note
                                                                January 25, 2002
                                                                      Page - 2 -

         2.  Payment of Interest.
             --------------------

         Borrower  shall pay interest in arrears on the22nd day of each calendar
month.  This note shall bear  interest at an annual  rate,  and for such tenors,
quoted by the Bank and chosen by the  Borrower  not later than 11:00 a.m. of the
first day of each Interest Period.

                  i.       Computation.  Interest  shall  accrue  on the  unpaid
                           -----------
                           portion of the Advance  from the time each Advance is
                           credited or  otherwise  made  available  to Borrower,
                           until the principal  amount  thereof is paid in full.
                           Interest on Adjusted LIBOR Advances shall be computed
                           on the  basis of a year of 360 days and  interest  on
                           Base Rate Advances  shall be computed on the basis of
                           a year of 365  days;  in all  cases  for  the  actual
                           number of days elapsed.

                  ii.      Spreads.  Interest on Adjusted  LIBOR  Advances  will
                           -------
                           accrue at one and one half (11/2)  percentage  points
                           over  Adjusted  LIBOR,  at the time of each  Adjusted
                           LIBOR  Advance.  Interest on Base Rate  Advances will
                           accrue fluctuating concurrently with the Base Rate.

                  iii.     Default  Interest.  In the event of any Default under
                           -----------------
                           the  Commitment  Letter,  the  interest  rate  on any
                           outstanding  Advances  will  increase,  at the Bank's
                           option,  to a rate two (2)  percentage  points higher
                           than  the  rate  applicable  to Base  Rate  Advances,
                           effective  from the date of the breach.  The interest
                           rate  payable  will  remain at such higher rate until
                           the  breach is  corrected.  No such  increase  in the
                           interest  rate shall be  construed as a waiver of any
                           of the Bank's rights under this Agreement,  including
                           the  right to  demand  payment,  declare  an Event of
                           Default and take any other  action it may be entitled
                           to take under the terms of any Loan Document.

                  iv.      Conversion  to Base Rate  Funding.  In the event that
                           ---------------------------------
                           Borrowers  do not  notify  the  Bank  of the  desired
                           interest  rate  option by 11:00 a.m. of the first day
                           of  an   Interest   Period,   the   rate   applicable
                           thereafter,  until  commencement  of a  new  Interest
                           Period,  shall be the rate quoted  above based on the
                           Base Rate.

         2.  Payment of Principal.
             ---------------------

         This note is payable on demand.

         3.  General.
             --------

         This note has been issued  pursuant to the terms and conditions of, and
is entitled to the benefits and security provided in, the Commitment Letter. The
Commitment  Letter,  among other things,  contains  provisions  for optional and
mandatory  prepayments  on account of the  principal  hereof  upon the terms and
conditions therein specified.

<PAGE>

                                               $2,500,000 Master Promissory Note
                                                                January 25, 2002
                                                                      Page - 3 -

         The Borrower and its  successors  hereby  waive  presentment,  protest,
demand,  notice of  non-payment  and notice of  acceleration.  No release of any
security  for the Loan or  extension  of time for  payment of this note,  and no
alteration,  amendment or waiver of any provision of this note or any other Loan
Documents made by agreement between the Bank and any other person or party shall
release,  modify, amend, waive, extend, change,  discharge,  terminate or affect
the Borrower's liability under this Note.

         This note shall be  interpreted  and enforced  according to the laws of
Puerto Rico. The terms and provisions  hereof shall be binding upon and inure to
the benefit of the Borrower and the Bank and their respective heirs,  executors,
legal representatives, successors and assigns. In case of judicial claim for the
collection of all or part of this  obligation,  the undersigned  promises to pay
all  reasonable  costs,  expenses  and  attorneys'  fees  incurred by the holder
hereof.

MARGO CARIBE, INC.

By: /s/ Jose F. Rodriguez Ortiz
   -----------------------------

Affidavit Number: 288
                 -----

         Signed  before  me by Jose  Fernando  Rodriguez  Ortiz,  of legal  age,
married, executive, and resident of Guaynabo, Puerto Rico, as President of Margo
Caribe, Inc., who was identified by his driver's license number 1449614.

         In San Juan, Puerto Rico, as of January 25, 2002.

                                                  /s/ Rebecca Cuevas Fontan
                                              ----------------------------------
                                                            Notary

(notorial seal)

<PAGE>

                                                              Margo Caribe, Inc.
                                                          Master Promissory Note
                                                                January 25, 2002

                              SCHEDULE OF ADVANCES

                                    Page -1-

This schedule evidences Operating Loan "A" Advances made by Scotiabank de Puerto
Rico to Margo  Caribe,  Inc. on the dates,  in the  principal  amounts,  bearing
interest  at the rates,  and  maturing  on the dates set forth  below,  with the
payments of principal set forth below, all pursuant to the Commitment Letter and
the master  promissory note in the maximum  principal amount of $2,500,000 dated
January 25, 2002:

<TABLE>
<CAPTION>

       Date      Amount       Interest       Interest     Principal      Outstanding        Notation
                Advanced      Rate and       Payment       Payment        Principal         Made By:
                              Maturity        Amount       Amount          Balance
=====================================================================================================
<S>           <C>           <C>           <C>           <C>           <C>               <C>

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________
</TABLE>

<PAGE>

                                                              Margo Caribe, Inc.
                                                          Master Promissory Note
                                                                January 25, 2002

                       SCHEDULE OF ADVANCES (continuation)

                                    Page -2-

This schedule evidences Operating Loan "A" Advances made by Scotiabank de Puerto
Rico to Margo  Caribe,  Inc. on the dates,  in the  principal  amounts,  bearing
interest  at the rates,  and  maturing  on the dates set forth  below,  with the
payments of principal set forth below, all pursuant to the Commitment Letter and
the master  promissory note in the maximum  principal amount of $2,500,000 dated
January 25, 2002:

<TABLE>
<CAPTION>

       Date      Amount       Interest       Interest     Principal      Outstanding        Notation
                Advanced      Rate and       Payment       Payment        Principal         Made By:
                              Maturity        Amount       Amount          Balance
=====================================================================================================
<S>           <C>           <C>           <C>           <C>           <C>               <C>

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________
</TABLE>

<PAGE>

                                                              Margo Caribe, Inc.
                                                          Master Promissory Note
                                                                January 25, 2002

                       SCHEDULE OF ADVANCES (continuation)

                                    Page -3-

This schedule evidences Operating Loan "A" Advances made by Scotiabank de Puerto
Rico to Margo  Caribe,  Inc. on the dates,  in the  principal  amounts,  bearing
interest  at the rates,  and  maturing  on the dates set forth  below,  with the
payments of principal set forth below, all pursuant to the Commitment Letter and
the master  promissory note in the maximum  principal amount of $2,500,000 dated
January 25, 2002:

<TABLE>
<CAPTION>

       Date      Amount       Interest       Interest     Principal      Outstanding        Notation
                Advanced      Rate and       Payment       Payment        Principal         Made By:
                              Maturity        Amount       Amount          Balance
=====================================================================================================
<S>           <C>           <C>           <C>           <C>           <C>               <C>

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________

_____________________________________________________________________________________________________
</TABLE>EXHIBIT 10

Exhibit 10.11.1

 

FIRST CONSULTING GROUP, INC.

 

2000 ASSOCIATE STOCK PURCHASE PLAN OFFERING

 

Adopted October 26, 1999

Amended June 19, 2000 and July 1, 2001

 

Grant; Offering Date.

 

The Board of Directors of

First Consulting Group, Inc. (the “Company”), pursuant to the Company’s 2000

Associate Stock Purchase Plan (the “Plan”), hereby authorizes the grant of

rights to purchase shares of the common stock of the Company (“Common Stock”)

to all eligible associates (an “Offering”). 

The first Offering shall begin on January 1, 2000 and end on

December 31, 2001 (the “Initial Offering”).  Thereafter, Offerings shall begin every two years on

January 1, beginning with January 1, 2002.  Each such Offering shall have a term of two (2) years.  For example, the Offering that begins on

January 1, 2002, will end on December 31, 2003.  Except as otherwise provided, the first day

of an Offering is that Offering’s “Offering Date.” If an Offering Date falls on

a day during which the Common Stock is not actively traded, then the Offering

Date shall be the next succeeding day during which the Common Stock is actively

traded.  For the Initial Offering, the

Offering Date is June 30, 2000.

 

Prior

to the commencement of any Offering, the Board of Directors (or the Committee

described in Subsection 2(c) of the Plan, if any) may change any or all terms

of such Offering and any subsequent Offerings and may determine that such

Offerings shall not occur.  The granting

of rights pursuant to each Offering hereunder shall occur on each respective

Offering Date unless, prior to such date (a) the Board of Directors (or

such Committee) determines that such Offering shall not occur, or (b) no

shares remain available for issuance under the Plan in connection with the

Offering.

 

1.             Eligible Associates.

 

All

regular full time associates of the Company and each of its Affiliates (as

defined in the Plan) (collectively, the “Eligible Associates”) shall be granted rights to

purchase Common Stock under each Offering on the Offering Date of such Offering

provided that each such associate otherwise meets the employment requirements

of Subsection 5(a) of the Plan. 

Notwithstanding the foregoing, the following associates shall not

be Eligible Associates or be granted rights under an Offering:  (i) part-time, temporary or seasonal

associates whose customary employment is less than twenty (20) hours per week

or less than five (5) months per calendar year and (ii) 5% stockholders

(including ownership through unexercised options) described in Subsection 5(c)

of the Plan.  In addition, the Company

may, in its sole discretion, exclude from participation in the Offering

associates who reside and/or perform services for the Company or an Affiliate

in certain specific jurisdictions if the laws of such jurisdictions make participation

in the Offering impractical.

 

Each person who

first becomes an Eligible Associate during any Offering shall be granted a

right to purchase Common Stock under such Offering

on the next January 1 or July 1 during such Offering, which right

shall thereafter be deemed to be a part of such Offering.  Such right shall have the same

characteristics as any rights originally granted under the Offering except

that:

 

the

date on which such right is granted shall be the “Offering Date” of such right

for all purposes, including determination of the exercise price of such right;

and

 

the

Offering for such right shall begin on its Offering Date and end coincident

with the ongoing Offering.

 

 

2.             Rights.

 

Subject

to the limitations contained herein and in the Plan, on each Offering Date each

Eligible Associate shall be granted the right to purchase the number of shares

of Common Stock purchasable with the deductions that have been made from the

Eligible Associate’s pay during the six (6) month period preceding the Purchase

Date.

 

The

maximum number of shares that may be purchased by an eligible associate on a

Purchase Date shall not exceed five thousand (5,000) shares.  Notwithstanding the foregoing, for the

Offering that commences on January 1, 2000, the maximum number of shares that

may be purchased by an eligible associate on a Purchase Date shall not exceed

the lesser of (i) five thousand (5,000) shares or (ii) the amount of shares

that could be purchased with $10,000 in contributions as of June 30, 2000.  The maximum aggregate number of shares

available to be purchased by all Eligible Associates under an Offering shall be

the number of shares remaining available under the Plan on the Offering

Date.  If the aggregate purchase of

shares of Common Stock upon exercise of rights granted under the Offering would

exceed the maximum aggregate number of shares available, the Board shall make a

pro rata allocation of the shares available in a uniform and equitable manner.

 

Notwithstanding

the foregoing, as required under Section 423 of the Code, no associate shall be

granted an option under the Plan which permits such associate’s right to

purchase stock under this Plan and all other employee stock purchase plans

(described in Section 423 of the Code) of the Company to accrue at a rate which

exceeds twenty five thousand dollars ($25,000) of fair market value of such

stock (determined at the time such option is granted) for each calendar year in

which such option is outstanding at any time.

 

3.             Purchase Price.

 

The purchase price

of the Common Stock under the Offering shall be the lesser of eighty-five

percent (85%) of the fair market value of the Common Stock on the Offering Date

or eighty-five percent (85%) of the fair market value of the Common Stock on

the Purchase Date.  Notwithstanding the

foregoing, for the Offering that commences on January 1, 2000, and with

respect to which the Purchase Date is June 30, 2000, the purchase price of the

Common Stock under the Offering shall be the lesser of (i) eighty-five percent

(85%) of the fair market value of the Common Stock on the date on which the

stockholders of the Company approve the adoption of the Plan, or (ii)

eighty-five percent (85%) of the fair market value of the Common Stock on the

Purchase Date.

 

4.             Participation.

 

Except

as otherwise provided herein or in the Plan, an Eligible Associate may elect to

participate in an Offering as of any January 1 or July 1 during the Offering,

and the “Offering Date” for each such Eligible Associate shall be the January 1

or July 1 as of which such Eligible Associate first elects to participate in

the Offering.  An Eligible Associate

shall become a participant in the Plan by delivering an agreement authorizing

payroll deductions.  Such deductions

shall be made each pay period and must be in whole percentages not to exceed

ten percent (10%) of Earnings; provided that no Eligible Associate shall

be permitted to authorize deductions in excess of ten thousand dollars

($10,000) per calendar year.  The

agreement shall be made on such enrollment form as the Company or designated

Affiliate provides and must be delivered to the Company or designated Affiliate

before the Offering Date to be effective for such Offering, unless a later time

for filing the enrollment form is set by the Company for all Eligible

Associates with respect to a given Offering Date.  As to the Initial Offering, the time for filing an enrollment

form and commencing participation for individuals who are Eligible Associates

on the Offering Date for the Initial Offering shall be determined by the

Company and communicated to such Eligible Associates.  A participant may not make additional contributions under the

Plan.

 

A

participant may increase or reduce (including to zero) his or her participation

level as of any July 1 or January 1 during an Offering.  Any such change in participation shall be

made by delivering a

 

2

 

notice to the

Company or a designated Affiliate in such form and at such time as the Company

provides.  In addition, a participant

may withdraw from an Offering and receive his or her accumulated payroll

deductions from the Offering (reduced to the extent, if any, such deductions

have been used to acquire Common Stock for the Participant on any prior

Purchase Dates), without interest, at any time prior to the end of the

Offering, excluding the fifteen (15) day period immediately preceding the

Purchase Date, by delivering a withdrawal notice to the Company or designated

Affiliate in such form as the Company of designated Affiliate provides.  A participant who has withdrawn from an

Offering shall not again participate in such Offering but may participate in

subsequent Offerings under the Plan by submitting a new participation agreement

in accordance with the terms thereof.

 

5.             Purchases.

 

Subject to the

limitations contained herein, on each Purchase Date, each participant’s

accumulated payroll deductions (without any increase for interest) shall be

applied to the purchase of whole shares of Common Stock, up to the maximum

number of shares permitted under the Plan and the Offering.  “Purchase Date” shall be defined as

June 30, 2000, and each June 30 and December 31 thereafter.  If a Purchase Date falls on a day during

which the Common Stock is not actively traded then the Purchase Date shall be

the nearest prior day on which the Common Stock is actively traded.

 

6.             Notices and Forms.

 

Any

forms, notices or agreements provided for in the Offering or the Plan shall be

given in writing, in a form provided by the Company, and unless specifically

provided for in the Plan or this Offering shall be deemed effectively given

upon receipt or, in the case of notices and agreements delivered by the

Company, five (5) days after deposit in the United States mail, postage

prepaid.  In addition, the Company may

from time to time deliver certain forms and notices to Eligible Associates

electronically or require that certain forms and notices be delivered to the

Company electronically, with delivery deemed effectively given upon receipt.

 

7.             Exercise Contingent on Stockholder Approval.

 

The rights granted

under an Offering are subject to the approval of the Plan by the stockholders

of the Company as required for the Plan to obtain employee stock purchase plan

treatment under Section 423 of the Code or to comply with the requirements of

Rule 16b-3 promulgated under the Securities Exchange Act of 1934, as amended.

 

8.             Offering Subject to Plan.

 

Each Offering is

subject to all the provisions of the Plan, and its provisions are hereby made a

part of the Offering, and is further subject to all interpretations,

amendments, rules and regulations which may from time to time be promulgated

and adopted pursuant to the Plan.  In

the event of any conflict between the provisions of an Offering and those of

the Plan (including interpretations, amendments, rules and regulations which

may from time to time be promulgated and adopted pursuant to the Plan), the

provisions of the Plan shall control.

 

 

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}]]