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                                                                    Exhibit 10.5

             PHARMACIA CORPORATION SHARED SUCCESS STOCK OPTION PLAN
      (As Amended April 24, 1997 and June 26, 1997 and September 24, 2001)

1. Purposes

The Pharmacia Corporation Shared Success Stock Option Plan is designed,

      -     to focus employees on business performance that creates stockholder
            value;

      -     to provide employees with an incentive to enhance stockholder
            return; and

      -     to encourage employees to view the Company from the perspective of
            its stockholders.

2. Definitions

            a)    "Associated Company"' means any corporation (or partnership,
                  joint venture, or other enterprise), of which the Company owns
                  or controls, directly or indirectly, 10% or more, but less
                  than 50%. Of the outstanding shares of stock normally entitled
                  to vote for the election of directors (or comparable equity
                  participation and voting power).

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

            c)    "Change in Control" means

                  (1) the acquisition by any individual, entity or group (a
                  "Person"), including any "person" within the meaning of
                  Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of
                  1934, as amended (the "Exchange Act"), of beneficial ownership
                  within the meaning of Rule 13d-3 promulgated under the
                  Exchange Act, of 33% or more of either (i) the then
                  outstanding shares of Common Stock of the Company (the
                  "Outstanding Company Common Stock") or (ii) the combined
                  voting power of the then outstanding securities of the Company
                  entitled to vote generally in the election of directors (the
                  "Outstanding Company Voting Securities"); provided, however,
                  that the following acquisitions of Outstanding Company Common
                  Stock or Outstanding Company Voting Securities shall not
                  constitute a Change in Control: (A) any acquisition by the
                  Company, (B) any acquisition by an employee benefit plan (or
                  related trust) sponsored or maintained by the Company or any
                  corporation controlled by the Company, or (C) any acquisition
                  by any corporation pursuant to a reorganization, merger or
                  consolidation involving the Company, if, immediately after
                  such reorganization, merger or consolidation, each of the
                  conditions described in clauses (i), (ii) and (iii) of
                  subsection (3) of this definition shall be satisfied; and
                  provided further that, for purposes of clause (A), if any
                  Person (other than the Company or any employee benefit plan
                  (or related trust) sponsored or maintained by the Company or
                  any corporation controlled by the Company) shall become the
                  beneficial owner of 33% or more of the Outstanding Company
                  Common Stock or 33% or more of the Outstanding Company Voting
                  Securities by reason of any acquisition of Outstanding Company
                  Common Stock or Outstanding Company Voting Securities by the
                  Company and such Person shall, after such acquisition by the
                  Company, become the beneficial owner of any additional shares
                  of the Outstanding Company Common Stock or any additional
                  Outstanding Voting

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                  Securities and such beneficial ownership is publicly
                  announced, such additional beneficial ownership shall
                  constitute a Change in Control;

                  (2) individuals who, as of the date hereof, constitute the
                  Board (the "Incumbent Board") cease for any reason to
                  constitute at least a majority of such Board; provided,
                  however, that any individual who becomes a director of the
                  Company subsequent to the date hereof whose election, or
                  nomination for election by the Company's stockholders, was
                  approved by the vote of at least three-quarters of the
                  directors then comprising the Incumbent Board (either by a
                  specific vote or by approval of the proxy statement of the
                  Company in which such person is named as a nominee for
                  director, without objection to such nomination) shall be
                  deemed to have been a member of the Incumbent board; and
                  provided further, that no individual who was initially elected
                  as a director of the Company as a result of an actual or
                  threatened election contest, as such terms are used in Rule
                  14a-11 of Regulation 14A promulgated under the Exchange Act,
                  or any other actual or threatened solicitation of proxies or
                  consents by or on behalf of any Person other than the Board
                  shall be deemed to have been a member of the Incumbent Board;

                  (3) approval by the stockholders of the Company of a
                  reorganization, merger or consolidation involving the Company
                  unless, in any such case, immediately after such
                  reorganization, merger or consolidation, (i) more than 50% of
                  the then outstanding shares of common stock of the corporation
                  resulting from such reorganization, merger or consolidation
                  and more than 50% of the combined voting power of the then
                  outstanding securities of such corporation entitled to vote
                  generally in the election of directors is then beneficially
                  owned, directly or indirectly, by all or substantially all of
                  the individuals or entities who were the beneficial owners,
                  respectively, of the Outstanding Company Common Stock and the
                  Outstanding Company Voting Securities immediately prior to
                  such reorganization, merger or consolidation and in
                  substantially the same proportions relative to each other as
                  their ownership, immediately prior to such reorganization,
                  merger or consolidation, of the Outstanding Company Common
                  Stock and the Outstanding Company Voting Securities, as the
                  case may be, (ii) no Person (other than the Company, any
                  employee benefit plan (or related trust) sponsored or
                  maintained by the Company or the corporation resulting from
                  such reorganization, merger or consolidation (or any
                  corporation controlled by the Company), or any Person which
                  beneficially owned, immediately prior to such reorganization,
                  merger or consolidation, directly or indirectly, 33% or more
                  of the Outstanding Company Common Stock or the Outstanding
                  Company Voting Securities, as the case may be) beneficially
                  owns, directly or indirectly, 33% or more of the then
                  outstanding shares of common stock of such corporation or 33%
                  or more of the combined voting power of the then outstanding
                  securities of such corporation entitled to vote generally in
                  the election of directors and (iii) at least a majority of the
                  members of the board of directors of the corporation resulting
                  from such reorganization, merger or consolidation were members
                  of the Incumbent board at the time of the execution of the
                  initial agreement or action of the Board providing for such
                  reorganization, merger or consolidation; or

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                  (4) approval by the stockholders of the Company of a plan of
                  complete liquidation or dissolution of the Company or (ii) the
                  sale or other disposition of all or substantially all of the
                  assets of the Company other than to a corporation with respect
                  to which, immediately after such sale or other disposition,
                  (A) more than 50% of the then outstanding shares of common
                  stock thereof and more than 50% of the combined voting power
                  of the then outstanding securities thereof entitled to vote
                  generally in the election of directors is then beneficially
                  owned, directly or indirectly, by all or substantially all of
                  the individuals and entities who were the beneficial owners,
                  respectively, of the Outstanding Company Common Stock and the
                  Outstanding Company Voting Securities immediately prior to
                  such sale or other disposition and in substantially the same
                  proportions relative to each other as their ownership,
                  immediately prior to such sale or other disposition, of the
                  Outstanding Company Common Stock and the Outstanding Company
                  Voting Securities, as the case may be, (B) no Person (other
                  than the Company, any employee benefit plan (or related trust)
                  sponsored or maintained by the Company or such corporation (or
                  any corporation controlled by the Company), or any Person
                  which beneficially owned, immediately prior to such sale or
                  other disposition, directly or indirectly, 33% or more of the
                  Outstanding Company Common Stock or the Outstanding Company
                  Voting Securities, as the case may be) beneficially owns,
                  directly or indirectly, 33% or more of the then outstanding
                  shares of common stock thereof or 33% or more of the combined
                  voting power of the then outstanding securities thereof
                  entitled to vote generally in the election of directors and
                  (C) at least a majority of the members of the board of
                  directors thereof were members of the Incumbent board at the
                  time of the execution of the initial agreement or action of
                  the Board providing for such sale or other disposition (or
                  were approved directly or indirectly by the Incumbent Board).

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

      b)    "Committee" means the Compensation Committee of the Board, or its
            permitted delegate, consisting of two or more non-employee directors
            (as defined under Rule 16b-3 of the Exchange Act) appointed by the
            Board who meet the requirements of being outside directors within
            the meaning of Section 162(m) of the Code.

      c)    "Common Stock" means the common stock of the Company.

      d)    "Company" means Pharmacia Corporation, a Delaware corporation, and
            any successors thereto.

      e)    "Exercise Price" means the price at which a Participant may purchase
            a share of Common Stock covered by a Stock Option granted pursuant
            to the Shared Success Stock Option Plan.

      f)    "Fair Market Value" shall mean, per share of Common Stock, the
            average of the highest and lowest price of the Common Stock on the
            New York Stock Exchange (the "NYSE"), or such other national
            securities exchange as may be designated by the Committee, on the
            applicable date, or, if there are no sales of Common Stock on the

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            NYSE on such date, then the average of the highest and lowest price
            of the Common Stock on the last previous day on which a sale on the
            NYSE is reported.

      g)    "Grant Date" means the date as of which the Committee shall
            determine that a Stock Option shall become effective.

      d)    "Parent" means any corporation (other than the Company) in an
            unbroken chain of corporations ending with the Company if each of
            the corporations other than the last corporation in the unbroken
            chain owns stock possessing 50% or more of the total combined voting
            power of all classes of stock in one or more of the other
            corporations in the chain.

      h)    "Participant" means an employee of the Company, a Subsidiary, or an
            Associated Company to whom a Stock Option has been granted pursuant
            to the Shared Success Stock Option Plan.

      i)    "Performance Objective" means performance objectives adopted by the
            Committee pursuant to the Shared Success Stock Option Plan for
            Participants who have received grants of Stock Options. If the
            Committee determines that a change in the business, operations,
            corporate structure or capital structure of the Company, or the
            manner in which it conducts its business, or other events or
            circumstances render the Performance Objectives to be unsuitable,
            the Committee may modify such Performance Objectives or the related
            minimum acceptable level of achievement, in whole or in part as the
            Committee deems appropriate.

      e)    "Retirement" shall have such meaning as set forth in the terms and
            conditions of the applicable grant instrument, as determined by the
            Committee in its discretion.

      j)    "Shared Success Stock Option Plan" means the Pharmacia Corporation
            Shared Success Stock Option Plan.

      k)    "Stock Option" means a right granted under the Shared Success Stock
            Option Plan to a Participant to purchase a share of Common Stock at
            a fixed price for a fixed period of time. Stock Options are not
            intended to be incentive stock options within the meaning of Section
            422 of the Code.

      l)    "Subsidiary" means any corporation (or partnership, joint venture,
            or other enterprise) of which the Company owns or controls, directly
            or indirectly, 50% or more of the outstanding shares of stock
            normally entitled to vote for the election of directors (or
            comparable equity participation and voting power).

      m)    "Termination of Employment' means a Participant's termination of
            employment with the Company, a Parent, a Subsidiary, or an
            Associated Company such that he or she is no longer an employee of
            the Company, a Parent, a Subsidiary, or an Associated Company, for
            any reason whatsoever.

      n)    "Total and Permanent Disability" means a physical or mental
            disability which entitles the Participant to receive disability
            benefits under a long- term disability plan applicable to such
            Participant, whether or not such Participant actually receives such
            disability

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            benefits, or, in the event that there is no long-term disability
            plan applicable to such Participant, as determined by the Committee.

3. Term of Shared Success Stock Option Plan

The Shared Success Stock Option Plan shall be effective on the date on which the
Shared Success Stock Option Plan is adopted by the Board.

4. Administration

The Shared Success Stock Option Plan shall be administered by the Committee
except to the extent the Committee delegates administration pursuant to this
paragraph. The Committee may by resolution delegate authority to one or more
committees consisting of one or more officers (a "Subcommittee") to perform one
or both of the following: (i) to select officers or salaried employees
(including salaried directors) of the Company or a Subsidiary (but not of a
Parent) who are to receive stock options, and (ii) to determine the number of
such stock options to be received by the selected officers or salaried
employees; provided, however, that the Committee shall by resolution set forth
the maximum number of stock options that may be made by any Subcommittee(s). Any
such Subcommittee delegated authority by the Committee may not (x) select an
officer who is a current member of such Subcommittee or a member of the Board to
receive stock options, or (y) grant any stock option to a Reporting Person
(defined as a person subject to the reporting requirements of Section 16(a) of
the Exchange Act) or to a "covered employee" under Section 162(m) of the
Internal Revenue Code of 1986, as amended. Only the Committee shall make all
determinations regarding stock option awards to Reporting Persons and/or
"covered employees". To the extent permitted by law, the Committee may appoint
employees of the Company or its Subsidiaries or other third parties to act as
its agents with respect to administration of the Shared Success Stock Option
Plan, including, but not limited to, administration of the exercise of any stock
option granted under the Shared Success Stock Option Plan.

The Committee shall have full power and authority to administer and interpret
the Shared Success Stock Option Plan and to adopt such rules, regulations,
agreements, guidelines and instruments for the administration of the Shared
Success Stock Option Plan as the Committee deems necessary or advisable. The
Committee's powers include, but are not limited to (subject to the specific
limitations described herein), authority to determine the employees to be
granted Stock Options under the Shared Success Stock Option Plan, to determine
the size and applicable terms and conditions of grants to be made to such
employees, to determine the time when Stock Options will be granted, to
determine whether a resignation was voluntary and whether a Termination of
Employment was for cause, to authorize grants to eligible employees and to grant
to foreign nationals or employees who are employed outside of the United States
of America, subject to Section 12 hereof, such substitutes for the Stock Options
as may be deemed necessary or appropriate.

The Committee's interpretations of the Shared Success Stock Option Plan, and all
actions taken and determinations made by the Committee concerning any matter
arising under or with respect to the Shared Success Stock Option Plan or any
Stock Options granted hereunder, shall be final, binding and conclusive on all
interested parties, including the Company, a Parent, a Subsidiary, or an
Associated Company, stockholders of the Company and all former, present and
future employees

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of the Company, a Parent, a Subsidiary, or an Associated Company. The Committee
may as to all questions of accounting rely conclusively upon any determination
made by the internal accountants of the Company.

5. Common Stock Authorized Under the Plan

The total number of shares of Common Stock for which Stock Options may be
granted under the Shared Success Stock Option Plan shall not exceed 2,700,000,
subject to any adjustment which may be made pursuant to Section 10 hereof. The
shares of Common Stock for which Stock Options may be granted under the Shared
Success Stock Option Plan may be authorized but unissued shares of Common Stock
not reserved for any other purposes or shares of Common Stock held in or
acquired for the treasury of the Company, or both. In the event that any
unexercised Stock Option granted pursuant to the Shared Success Stock Option
Plan lapses or ceases to be exercisable for any reason, the shares of Common
Stock subject to such Stock Option shall again be available for Stock Option
grants pursuant to the Shared Success Stock Option Plan.

6. Eligibility

All employees of the Company, a Subsidiary, or an Associated Company shall be
eligible to participate in the Shared Success Stock Option Plan.

7. Terms and Conditions of Stock Options

Each Stock Option granted pursuant to the Shared Success Stock Option Plan shall
be in writing and shall contain such terms and conditions as the Committee may
determine, subject to the following provisions:

      a)    Grants of Stock Options. The Committee may grant Stock Options to
            eligible employees at such times and to the extent the Committee
            deems advisable. Any grant of Stock Options may specify Performance
            Objectives that, if achieved, will result in exercisability or early
            exercisability of such Stock Options.

      b)    Exercise Price. The Exercise Price of a Stock Option shall be as
            determined by the Committee.

      c)    Term of Stock Options. Stock Options granted pursuant to the Shared
            Success Stock Option Plan shall have a term as determined by the
            Committee; provided, however, that in no event shall a Stock Option
            have a term longer than ten years from the Grant Date. A grant of
            Stock Options may vest in installments, however, Stock Options must
            be exercised for full shares of Common Stock. To the extent that
            Stock Options are not exercised when they become initially
            exercisable, they shall be carried forward and be exercisable until
            the expiration of the term of such Stock Options, subject to Section
            7(f) hereof.

      d)    Exercise of Stock Options. To exercise a Stock Option, a Participant
            (or a transferee of a Participant) shall give oral or written notice
            to the Company, or its agent, specifying the number of shares of
            Common Stock with respect to which the Stock Option is being
            exercised. Any written notice to the Company, or its agent, shall be
            signed and dated by the Participant. From time to time the Committee
            may establish procedures relating to

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            effecting such exercises as are consistent with current technology
            and the Company's system for administering the Shared Success Stock
            Option Plan. No fractional shares shall be issued as a result of a
            Participant's exercising a Stock Option.

      e)    Payment of Exercise Price. Each Stock Option grant shall specify the
            form of consideration to be paid in satisfaction of the Exercise
            Price, which may include (i) cash in the form of United States
            currency or foreign currency converted to United States dollars at
            the exchange rate in effect on the Exercise Date or cashier's check
            or certified check payable to the order of the Company, (ii) shares
            of Common Stock of the Company already owned, and in the possession
            of, the Participant, or (iii) any combination' of cash or shares of
            Common Stock of the Company. In addition, it shall be a condition to
            the obligation of the Company to deliver shares of Common Stock upon
            exercise of a Stock Option, that the Participant pay such amount as
            may be requested for the purpose of satisfying the liability for any
            foreign, federal, state or local withholding tax in accordance with
            Section 14 hereof.

      f)    Effect of Termination of Employment on Exercise of Stock Options.
            Except as otherwise determined by the Committee at or subsequent to
            the grant of a Stock Option, any Stock Options held by a Participant
            upon a Participant's Termination of Employment shall remain
            exercisable as follows:

                  (1) If the Participant's Termination of Employment is due to
                  death or Total and Permanent Disability, the Stock Option (to
                  the extent exercisable as of the termination date) shall be
                  exercisable for one (1) year following the date of Termination
                  of Employment (but in no event beyond the term of the Stock
                  Option) and shall expire thereafter; and

                  (2) If the Participant's Termination of Employment is for any
                  other reason, the Stock Option (to the extent exercisable on
                  the termination date) shall be exercisable for a period of
                  ninety (90) days following the date of Termination of
                  Employment (but in no event beyond the term of the Stock
                  Option) and shall expire thereafter.

                  (3) In no event may a Stock Option be exercised for a period
                  beyond the term of the Stock Option.

      g)    Change in Control. Upon a Change in Control prior to the Termination
            of Employment of a Participant, all Stock Options then held by the
            Participant shall become immediately exercisable as of the date of
            such Change in Control and be able to be exercised by the
            Participant in accordance with their terms.

      h)    Nontransferability of Stock Options. Except as otherwise provided in
            this subsection (h), during a Participant's lifetime, his or her
            Stock Options shall not be transferable and shall only be
            exercisable by the Participant (or by the guardian or legal
            representative of the Participant acting in a fiduciary capacity on
            behalf of the Participant under state law and court supervision or
            comparable office and supervision under applicable foreign law) and
            any purported transfer shall be null and void. No Stock Option shall
            be transferable other than by designation, by will, or by the laws
            of descent and distribution, and is not subject, in whole or in
            part, to attachment, execution, or levy of

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            any kind. In addition, no qualified domestic relations order (as
            defined by the Code or Title I of the Employee Retirement Income
            Security Act of 1974, as amended) purporting to authorize a transfer
            of a Stock Option shall be recognized as valid. A Participant may
            designate in the event of his or her death a beneficiary or
            beneficiaries by filing a written designation in such form and
            manner as the Committee shall require and such designated
            beneficiary shall be entitled to exercise such Participant's Stock
            Option during the term of the Stock Option. Notwithstanding the
            foregoing, the Senior Vice President of Human Resources of the
            Company, in his or her sole discretion, may allow the transfer, for
            no consideration to the Participant, of a Stock Option to a
            Participant's "Immediate Family," pursuant to the terms and
            conditions approved by the Senior Vice President of Human Resources.
            In the event of such permitted transfer, the transferee shall take
            such Stock Option subject to the same restrictions, terms and
            conditions in such Stock Option prior to the permitted transfer. For
            purposes of this subsection, "Immediate Family" shall mean (i) the
            Participant's children, grandchildren, spouse or common law spouse,
            siblings or parents, as well as (ii) a trust in which these persons
            (or the Participant) have more than fifty percent of the beneficial
            interest, a foundation in which these persons (or the Participant)
            control the management of assets, and any other entity in which
            these persons (or the Participant) own more than fifty percent of
            the voting interests.

      i)    No Obligation to Exercise. Stock Option. The granting of a Stock
            Option shall impose no obligation upon the Participant (or upon a
            transferee of a Participant) to exercise such Stock Option.

      j)    Modification, Extension and Renewal of Stock Options. Subject to the
            terms and conditions within the limitations of, the Shared Success
            Stock Option Plan, the Committee may modify, extend or renew
            outstanding Stock Options granted under the Shared Success Stock
            Option Plan, or accept the surrender of outstanding Stock Options
            (up to the extent not theretofore exercised) and authorize the
            granting of new Stock Options in substitution therefor (up to the
            extent not theretofore exercised). Notwithstanding the foregoing or
            anything herein, no modification of a Stock Option shall, without
            the consent of the Participant, alter or impair any rights or
            obligations under any Stock Option theretofore granted under the
            Shared Success Stock Option Plan.

      k)    Other Terms and Conditions. Stock Option grants may contain such
            other provisions, which shall not be inconsistent with any of the
            foregoing terms, as the Committee deems advisable.

8. Replacement Stock Options.

The Committee shall have the discretionary authority to include in any stock
option agreement a provision that entitles a Participant who is an employee of
the Company, a Parent, a Subsidiary or an Associated Company and who exercises a
Stock Option, in whole or in part, by using previously owned shares of Common
Stock to be granted a replacement Stock Option exercisable for the number of
shares of Common Stock used to exercise the Stock Option. Any such replacement
Stock Option shall be subject to the availability of sufficient shares of Common
Stock under Section 5, and shall be subject to such other terms and conditions
to be determined by the

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Committee consistent with the Shared Success Stock Option Plan. No Participant
shall have any right to the grant of a replacement Stock Option unless such
right is approved by the Committee and included in the Participant's stock
option agreement.

9. Buy Out of Stock Option Gains

At any time after any Stock Option becomes exercisable, the Committee shall have
the right to elect, in its sole discretion and without the consent of the holder
of any Stock Option, to cancel such Stock Option and to cause the Company to pay
to the Participant the excess of the Fair Market Value of the shares of Common
Stock covered by such Stock Option over the Exercise Price of such Stock Option
at the date the Committee provides written notice (the "Buy Out Notice") of its
intention to exercise such right. Buy outs pursuant to this provision shall be
effected by the Company as promptly as possible after the date of the Buy Out
Notice. Payments of buy out amounts may be made in cash (including foreign
currency), in shares of Common Stock, or partly in cash and partly in Common
Stock, as the Committee deems advisable. To the extent payment is made in shares
of Common Stock, the number of shares shall be determined by dividing the amount
of the payment to be made by the Fair Market Value of a share of Common Stock at
the date of the Buy Out Notice. In no event stall the Company be required to
deliver a fractional share of Common Stock in satisfaction of this buy out
provision. Payments of any such buy out amounts shall be made net of any
applicable foreign, federal (including FICA), state and local withholding taxes.

10. Adjustments of the Common Stock

In the event that at any time after the Effective Date a stock dividend, stock
split, recharacterization, merger, consolidation, or other change in
capitalization, or a sale by the Company of all or part of its assets, or any
separation from the Company, including any spin-off or other distribution to
stockholders other than an ordinary cash dividend, results in (i) the
outstanding shares of Common Stock, or any securities exchanged therefor or
received in their place, being exchanged for a different number or class of
shares of stock or other securities of the Company, or for shares of stock or
other securities of any other corporation; or (ii) new, different or additional
shares or other securities of the Company or of any other corporation being
received by the holders of outstanding shares of Common Stock, then, in the case
of a stock dividend or stock split, equitable adjustments shall be automatically
made to the Shared Success Stock Option Plan and the Stock Options (or such
substitutes for the Stock Options) granted hereunder, including, if necessary,
an adjustment in the number of shares and Exercise Price per share applicable to
Stock Options then outstanding and, in all other cases, appropriate adjustments,
if any, shall be made by the Committee in its discretion. Any such adjustment
shall be conclusive and binding for all purposes of the Shared Success Stock
Option Plan.

Notice of any adjustment pursuant to this Section 10 (the "Adjustment Notice")
shall be given by the Company to each holder of a Stock Option (or such
substitutes for the Stock Option) which shall have been so adjusted and such
adjustment (whether or not such Adjustment Notice is given) shall be effective
and binding for all purposes of the Shared Success Stock Option Plan.

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11. Amendment or Termination of Shared Success Stock Option Plan

The Committee may, at any time, amend, suspend or terminate the Shared Success
Stock Option Plan, in whole or in part, provided that no such action shall
adversely affect any rights or obligations with respect to any grants
theretofore made hereunder. The Committee may amend the terms and conditions of
outstanding Stock Options, provided, however, that (i) no such amendment shall
be adverse to the holders of the Stock Options; (ii) no such amendment shall
extend the period for exercise of a Stock Option; and (iii) the amended terms of
the Stock Option would be permitted under the terms of the Shared Success Stock
Option Plan. Notwithstanding the foregoing, any amendment to increase the total
number of shares of Common Stock for which Stock Options may be granted under
the Shared Success Stock Option Plan shall require the approval of the Board.

12. Foreign Participants

The Committee may grant Stock Options to eligible employees who are foreign
nationals or who are employed by the Company, a Parent, a Subsidiary, or an
Associated Company outside of the United States of America. In order to
facilitate the granting of Stock Options, the Committee may provide for special
terms and conditions (including without limitation granting stock options with a
term longer than ten years if appropriate to assure favorable tax treatment) for
grants to employees who are foreign nationals or who are employed by the
Company, a Parent, a Subsidiary, or an Associated Company outside of the United
States of America, as the Committee may consider necessary or appropriate to
accommodate differences in local law, tax policy or custom in other countries in
which the Company, a Parent, a Subsidiary, or an Associated Company operates or
has employees. The Committee may also provide for such substitutes for the Stock
Options for employees who are foreign nationals or who are employed by the
Company, a Parent, a Subsidiary, or an Associated Company outside of the United
States of America as may be deemed necessary or appropriate by the Committee,

Moreover, the Committee may approve such supplements to, or amendments
restatements or alternative versions of t1ds Shared Success Stock Option Plan as
it may consider necessary or appropriate for such purposes without thereby
affecting the terms of the Shared Success Stock Option Plan as in effect for any
other purpose, and the Secretary or other appropriate officer of the Company may
certify any such documents as having been approved and adopted pursuant to
properly delegated authority; provided, however, that no such supplements,
amendments, restatements or alternative versions shall include any provisions
that are inconsistent with the terms of this Shared Success Stock Option Plan,
as then in effect.

13. Securities Law Requirements

      a)    Restrictions on Resale. No person who acquires shares of Common
            Stock pursuant to the Shared Success Stock Option Plan may, during
            any period of time that such person is an affiliate of the Company
            within the meaning of the rules and regulations of the Securities
            and Exchange Commission under the Securities Act of 1933 (the "1933
            Act"), sell such shares of Common Stock, unless such offer and sale
            is made (i) pursuant to an effective registration statement under
            the 1933 Act, which is current and includes the shares to be sold,
            or (ii) pursuant to an appropriate exemption from the registration
            requirement of the 1933 Act, such as that set forth in Rule 144
            promulgated under the 1933 Act.

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      b)    Registration, Listing and Qualification of Shares of Common Stock.
            Each Stock Option shall be subject to the requirement that if at any
            time the Committee shall determine that the registration, listing or
            qualification of the shares covered thereby upon any securities
            exchange or under any foreign, federal, state or local law, or the
            consent or approval of any governmental regulatory body, is
            necessary or desirable as a condition of, or in connection with, the
            granting of such Stock Option or the purchase of shares hereunder,
            no such Stock Option may be exercised unless and until Such
            registration, listing, qualification, consent or approval shall have
            been effected or obtained free of any condition not acceptable to
            the Committee. Any person exercising a Stock Option shall make such
            representations and agreements and furnish such information as the
            Committee may request to assure compliance with the foregoing or any
            other applicable legal requirements.

14. Withholding Taxes

The Company may make such provisions and take such steps as it may deem
necessary or appropriate for the withholding of any taxes which the Company is
required by any law or regulations of any governmental authority, whether
federal, state or local, domestic or foreign, to withhold in connection with any
Stock Option or the exercise thereof, including, but not limited to, the
withholding of cash or shares of Common Stock which would be paid or delivered
pursuant to such exercise until the Participant reimburses the Company for the
amount the Company is required to withhold with respect to such taxes, or
canceling any portion of such award in an amount sufficient to reimburse itself
for the amount it is required to so withhold, or selling any property
contingently credited by the Company for the purpose of paying such award in
order to withhold or reimburse itself for the amount it is required to so
withhold. The Committee may permit a Participant (or other person authorized to
act) to elect to pay a portion or all of any amounts required or permitted to be
withheld to satisfy federal, state, local or foreign tax obligations by
directing the Company to withhold a number of whole shares of Common Stock which
would otherwise be distributed and which have a fair market value sufficient to
cover the amount of such required or permitted withholding taxes.

15. Governing Law

The Shared Success Stock Option Plan and any actions taken thereunder shall,
subject to Section 12, be governed in accordance with the laws of the State of
Delaware, without regard to the application of the conflicts of laws provisions
thereof.

16. Rights as a Stockholder

No Participant shall have any rights as a stockholder with respect to any shares
of Common Stock subject to a Stock Option prior to the date the Participant is
recorded as the holder of such shares of Common Stock on the records of the
Company and certificates for shares of Common Stock are issued to such
Participant.

17. No Right to Stock Options

No employee or other person shall have any claim or right to be granted a Stock
Option under the Shared Success Stock Option Plan. Having received a grant of a
Stock Option under the Shared Success Stock Option Plan shall not give a
Participant or other person any right to receive any other

                                       11
<PAGE>
grant of Stock Options under the Shared Success Stock Option Plan. A Participant
shall have no rights or interests in any Stock Option except as set forth
herein.

18. No Right to Continued Employment

Nothing contained in this Shared Success Stock Option Plan or any booklet or
document describing or referring to this Shared Success Stock Option Plan shall
be deemed to confer on any employee or Participant the right to continue in the
employ of the Company, a Subsidiary, or an Associated Company or affect the
right of the Company, a Subsidiary, or an Associated Company to terminate the
employment of any such person with or without cause.

19. Plan Unfunded

The Shared Success Stock Option Plan shall be unfunded. Except for reserving a
sufficient number of authorized shares of Common Stock to the extent required by
law to meet the requirements of the Shared Success Stock Option Plan, the
Company shall not be required to establish any special or separate fund or to
make any other segregation of assets to assure the delivery of the Common Stock
upon exercise of any Stock Option granted pursuant to the Shared Success Stock
Option Plan.

20. Exclusion from Pension and Other Benefit Plan Computation

By exercise of a Stock Option, each Participant shall be deemed to have agreed
that such Stock Option is special incentive compensation that will not be taken
into account, in any manner, as salary, compensation or bonus in determining the
amount of any payment under any pension, retirement or other employee benefit
plan of the Company, a Subsidiary, or an Associated Company. In addition, each
beneficiary of a deceased Participant shall be deemed to have agreed that such
Stock Option will not affect the amount of any life insurance coverage, if any,
provided by the Company, a Subsidiary, or an Associated Company on the life of
the Participant which is payable to the beneficiary under any life insurance
plan covering employees of the Company, a Subsidiary, or an Associated Company.

21. Notice

All notices or other communications required or permitted to be given under the
Shared Success Stock Option Plan to the Company shall be in writing (unless
otherwise permitted hereunder) and shall be deemed to have been duly given if
delivered personally or mailed first class, postage pre-paid, as follows: (i) if
to the Company - at its principal business address to the attention of the
Secretary; (ii) if to any Participant - at the last address of the Participant
known to the sender at the time the notice or other communication is sent.

22. Inurement of Rights and Obligations

The rights and obligations under the Shared Success Stock Option Plan and any
related documents shall inure to the benefit of, and shall be binding upon, the
Company, its successors and assigns, and the Participants and their
beneficiaries.

                                       12
<PAGE>
23. Costs and Expenses of the Shared Success Stock Option Plan

Except as otherwise provided herein, the costs and expenses of administering the
Shared Success Stock Option Plan shall be borne by the Company and shall not be
charged to any Stock Option grant nor to any employee receiving a Stock Option
grant. Costs and expenses associated with the exercise of any Stock Option
granted under the Shared Success Stock Option Plan, including, but not limited
to commissions charged by any agent of the Company, may be charged to the
Participant.

24. No Limitation on Rights of the Company

The grant of any Stock Option shall not in any way affect the right or power of
the Company to make adjustments, reclassification, or changes- in its capital or
business structure or to merge, consolidate, dissolve, liquidate or sell or
transfer all or any part of its business or assets. Further, the Shared Success
Stock Option Plan shall not restrict the authority of the Company, for proper
corporate purposes, to grant or assume stock options, other than -under the
Shared Success Stock Option Plan, to or with respect to any employee or other
person.

25. Compliance with Applicable Law

Notwithstanding anything herein to the contrary, the Company shall not be
obligated to cause to be issued or delivered any certificates for shares of
Common Stock pursuant to the exercise of a Stock Option, unless and until the
Company is advised by its counsel that the issuance and delivery of such
certificates is in compliance with all applicable laws, regulations of
governmental authority and the requirements of any exchange upon which shares of
Common Stock are traded. The Company shall in no event be obligated to register
any securities pursuant to the 1933 Act (as now in effect or as hereafter
amended) or to take any other action in order to cause the issuance and delivery
of such certificates to comply with any such law, regulation or requirement.

26. Fractional Shares

The Company shall not be required to issue any fractional shares of Common Stock
pursuant to the Shared Success Stock Option Plan. The Committee may provide for
the elimination of fractions or for the settlement thereof in cash.

27. Notwithstanding any other provision of the Plan, for purposes of any award
that is outstanding as of the date that the Company spins off the Company's
chemical businesses into a new publicly traded company ("Chemicals") and is held
by a Participant who in connection with such spin-off becomes an employee of
chemicals (or a subsidiary or associated company of Chemicals) rather than an
employee of the Company (or a Subsidiary or Associated Company of the Company),
such change of employment shall not constitute a Termination of Employment. With
respect to any such stock option or stock appreciation right held by any such
Participant, Termination of Employment shall mean such Participant's termination
of employment with Chemicals, a subsidiary of Chemicals, or an associated
company of Chemicals such that such Participant is no longer an employee of
Chemicals, a subsidiary of Chemicals or an associated company of Chemicals, for
any reason whatsoever. For purposes of this Section 27, a subsidiary of
Chemicals means any corporation (or partnership, joint venture, or other
enterprise) of which Chemicals owns or controls, directly or indirectly, 50% or
more of the outstanding shares of stock normally entitled to vote for the
election of directors (or comparable equity participation and voting power) and
an associated

                                       13
<PAGE>
company of Chemicals means any corporation (or partnership, joint venture, or
other enterprise), of which Chemicals owns or controls, directly or indirectly,
10% or more, but less than 50% of the outstanding shares of stock normally
entitled to vote for the election of directors (or comparable equity
participation and voting power).

                                       14<PAGE>
                                                                   Exhibit 10.6

                              PHARMACIA CORPORATION
                            EQUITY COMPENSATION PLAN

                  Amended and Restated as of September 24, 2001

         The purpose of the Pharmacia Corporation Equity Compensation Plan (the
"Plan") is to provide designated employees of Pharmacia Corporation (the
"Company") and its subsidiaries with the opportunity to receive grants of
nonqualified stock options, stock appreciation rights and restricted stock, with
respect to common stock of the Company. The Company believes that the Plan will
encourage the participants to contribute materially to the growth of the
Company, thereby benefiting the Company's shareholders, and will align the
economic interests of the participants with those of the shareholders.

1.       Administration

         (1) Committee. The Plan shall be administered and interpreted by a
committee (the "Committee") appointed by the Board of Directors of the Company
(the "Board"). The Committee may delegate any or all of its powers hereunder to
the Chief Executive Officer of the Company (the "CEO"). If the CEO administers
the Plan, references in the Plan to the "Committee" shall be deemed to refer to
the CEO.

         (2) Committee Authority. The Committee shall have the sole authority to
(i) determine the individuals to whom grants shall be made under the Plan; (ii)
determine the type, size and terms of the grants to be made to each such
individual; (iii) determine the time when the grants will be made and the
duration of any applicable exercise or restriction period, including the
criteria for exercisability and the acceleration of exercisability; (iv) amend
the terms of any previously issued grant; (v) appoint employees of the Company
or its subsidiaries or third parties to act as the Company's agents with respect
to administration of the Plan, including, but not limited to, the administration
of the exercise of Awards granted under the Plan; (vi) adopt and amend from time
to time such forms, agreements, communications, or practices deemed advisable by
the Committee for use in administering the Plan pursuant to the most current
technology, and (vii) deal with any other matters arising under the Plan.

         (3) Committee Determinations. The Committee shall have full power and
authority to administer and interpret the Plan, to make factual determinations
and to adopt or amend such rules, regulations, agreements and instruments for
implementing the Plan and for the conduct of its business as it deems necessary
or advisable, in its sole discretion. The Committee's interpretations of the
Plan and all determinations made by the Committee pursuant to the powers vested
in it hereunder shall be conclusive and binding on all persons having any
interest in the Plan or in any awards granted hereunder. All powers of the
Committee shall be executed in its sole discretion, in the best interest of the
Company, not as a fiduciary, and in keeping with the objectives of the Plan and
need not be uniform as to similarly situated individuals.

                                       1
<PAGE>
2.       Grants

         Awards under the Plan may consist of grants of nonqualified stock
options as described in Section 5 ("Options"), restricted stock as described in
Section 6 ("Restricted Stock") and stock appreciation rights as described in
Section 7 ("SARs") (hereinafter collectively referred to as "Grants"). All
Grants shall be subject to the terms and conditions set forth herein and to such
other terms and conditions consistent with this Plan as the Committee deems
appropriate and as are specified in writing by the Committee to the individual
in a grant instrument or an amendment to the grant instrument (the "Grant
Instrument"). The Committee shall approve the form and provisions of each Grant
Instrument. Grants under a particular Section of the Plan need not be uniform as
among the grantees.

3.       Shares Subject to the Plan

         (1) Shares Authorized. Subject to adjustment as described below, the
aggregate number of shares of common stock of the Company ("Company Stock") that
may be issued or transferred under the Plan is 14,760,000 shares of Company
Stock. The shares may be authorized but unissued shares of Company Stock or
reacquired shares of Company Stock, including shares purchased by the Company on
the open market for purposes of the Plan. If and to the extent Options or SARs
granted under the Plan terminate, expire, or are canceled, forfeited, exchanged
or surrendered without having been exercised, if and to the extent that any SARs
are paid in cash, and if and to the extent that any shares of Restricted Stock
are forfeited, the shares subject to such Grants shall again be available for
purposes of the Plan. If shares of Company Stock are used to pay the exercise
price of an Option, only the net number of shares received by the grantee
pursuant to such exercise shall be considered to have been issued or transferred
under the Plan with respect to such Option, and the remaining number of shares
subject to the Option shall again be available for purposes of the Plan.

         (2) Adjustments. If there is any change in the number or kind of shares
of Company Stock outstanding (i) by reason of a stock dividend, spinoff,
recapitalization, stock split, or combination or exchange of shares, (ii) by
reason of a merger, reorganization or consolidation in which the Company is the
surviving corporation, (iii) by reason of a reclassification or change in par
value, or (iv) by reason of any other extraordinary or unusual event affecting
the outstanding Company Stock as a class without the Company's receipt of
consideration, or if the value of outstanding shares of Company Stock is
substantially reduced as a result of a spinoff or the Company's payment of an
extraordinary dividend or distribution, the maximum number of shares of Company
Stock available for Grants, the number of shares covered by outstanding Grants,
the kind of shares issued under the Plan, and the price per share or base price
of such Grants may be appropriately adjusted by the Committee to reflect any
increase or decrease in the number of, or change in the kind or value of, issued
shares of Company Stock to preclude, to the extent practicable, the enlargement
or dilution of rights and benefits under such Grants; provided, however, that
any fractional shares resulting from such adjustment shall be eliminated. Any
adjustments determined by the Committee shall be final, binding and conclusive.

                                       2
<PAGE>
4.       Eligibility for Participation

         All employees of the Company and its subsidiaries who are not elected
or appointed executive officers of the Company ("Employees") shall be eligible
to participate in the Plan. The Committee shall select the Employees to receive
Grants and shall determine the number of shares of Company Stock subject to a
particular Grant in such manner as the Committee determines. Employees who
receive Grants under this Plan shall hereinafter be referred to as "Grantees".

5.       Granting of Options

         (1) Number of Shares. The Committee shall determine the number of
shares of Company Stock that will be subject to each Grant of Options to
Employees.

         (2) Type of Option and Price.

                  (i) All Options granted under the Plan shall be nonqualified
stock options, which are not intended to qualify as "incentive stock options"
within the meaning of section 422 of the Internal Revenue Code of 1986, as
amended.

                  (ii) The purchase price (the "Exercise Price") of Company
Stock subject to an Option shall be determined by the Committee and shall not be
less than the Fair Market Value (as defined below) of a share of Company Stock
on the date the Option is granted.

                  (iii) "Fair Market Value" shall mean, per share of Company
Stock, the average of the highest and lowest prices of the Company Stock on the
New York Stock Exchange (the "NYSE"), or such other national securities exchange
as may be designated by the Committee, on the applicable date, or, if there are
no sales of Company Stock on the NYSE on such date, then the average of the
highest and lowest prices of the Company Stock on the last previous day on which
a sale on the NYSE is reported.

         (3) Option Term. The Committee shall determine the term of each Option,
which shall not exceed ten years from the date of grant.

         (4) Exercisability of Options. Options shall become exercisable in
accordance with such terms and conditions, consistent with the Plan, as may be
determined by the Committee at or after grant.

         (5) Termination of Employment, Disability or Death.

                  (i) Unless the Committee determines otherwise, an Option may
only be exercised while the Grantee is employed by the Company (as defined
below) as an employee. The Committee shall determine whether, and under what
circumstances, an Option may be exercised after a Grantee's permanent
disability, death or other termination of employment. Except as otherwise
provided by the Committee, any of the Grantee's Options that are not otherwise
exercisable as of the date on which the Grantee ceases to be employed by the
Company shall terminate as of such date. For purposes of this Section 5(e) and
Sections 6, 7, 8

                                       3
<PAGE>
and 9, the term "Company" shall mean the Company and its subsidiaries and, if
the Grant Instrument so provides, its parent corporation.

         (6) Exercise of Options. A Grantee may exercise an Option that has
become exercisable, in whole or in part, by delivering a notice of exercise (in
the form prescribed from time to time by the Committee) to the Company with
payment of the Exercise Price. The Grantee shall pay the Exercise Price for an
Option as specified by the Committee and set forth in the option agreement and
may include, but is not limited to, the following: (i) in cash, (ii) with the
approval of the Committee, by delivering shares of Company Stock owned by the
Grantee (including Company Stock acquired in connection with the exercise of an
Option, subject to such restrictions as the Committee deems appropriate) and
having a Fair Market Value on the date of exercise equal to the Exercise Price
or by attestation (on a form prescribed by the Committee) to ownership of shares
of Company Stock having a Fair Market Value on the date of exercise equal to the
Exercise Price, (iii) by payment through a broker in accordance with procedures
established by the Committee and permitted by Regulation T of the Federal
Reserve Board, or (iv) by such other method as the Committee may approve. Shares
of Company Stock used to exercise an Option shall have been held by the Grantee
for the requisite period of time to avoid adverse accounting consequences to the
Company with respect to the Option. The Grantee shall pay the Exercise Price and
the amount of any withholding tax due (pursuant to Section 9) at the time of
exercise. The Committee may from time to time adopt such methods and procedures
for exercising outstanding Options as are consistent with current technology and
the Company's system for administering the Plan.

         (7) Replacement Options. The Committee may, in its sole discretion,
permit by the terms of a stock option agreement or otherwise that if a Grantee
exercises an Option, in whole or in part, while the Grantee is an Employee and
the Grantee uses shares of Company Stock to exercise the Option, the Grantee may
receive, upon the date of exercise, an additional Option to purchase a number of
shares of Company Stock equal to the number of whole shares used to pay the
Exercise Price for the Option. The new Option shall be granted with an Exercise
Price equal to the Fair Market Value of the Company Stock on the date of grant
of the new Option, for a term not longer than the unexpired term of the
exercised Option and on such other terms as the Committee shall determine. Any
such replacement option shall be subject to the availability of sufficient
shares of Company Stock under Section 3.

         6. Restricted Stock Grants

         The Committee may issue or transfer shares of Company Stock to an
Employee under a Grant of Restricted Stock, upon such terms as the Committee
deems appropriate. The following provisions are applicable to Restricted Stock:

         (1) General Requirements. Shares of Company Stock issued or transferred
pursuant to Restricted Stock Grants may be issued or transferred for
consideration or for no consideration, and subject to restrictions or no
restrictions, as determined by the Committee. The Committee may, but shall not
be required to, establish conditions under which restrictions on shares of
Restricted Stock shall lapse over a period of time or according to such other
criteria as the Committee deems appropriate, including, without limitation,
restrictions based upon the achievement of specific performance goals. The
period of time during which the Restricted

                                       4
<PAGE>
Stock will remain subject to restrictions will be designated in the Grant
Instrument as the "Restriction Period."

         (2) Number of Shares. The Committee shall determine the number of
shares of Company Stock to be issued or transferred pursuant to a Restricted
Stock Grant and the restrictions applicable to such shares.

         (3) Requirement of Employment. If the Grantee ceases to be employed by
the Company during a period designated in the Grant Instrument as the
Restriction Period, or if other specified conditions are not met, the Restricted
Stock Grant shall terminate as to all shares covered by the Grant as to which
the restrictions have not lapsed, and those shares of Company Stock must be
immediately returned to the Company. The Committee may, however, provide for
complete or partial exceptions to this requirement as it deems appropriate.

         (4) Restrictions on Transfer and Legend on Stock Certificate. During
the Restriction Period, a Grantee may not sell, assign, transfer, pledge or
otherwise dispose of the shares of Restricted Stock except to a Successor
Grantee under Section 10. Each certificate for a share of Restricted Stock shall
contain a legend giving appropriate notice of the restrictions in the Grant. The
Grantee shall be entitled to have the legend removed from the stock certificate
covering the shares subject to restrictions when all restrictions on such shares
have lapsed. The Committee may determine that the Company will not issue
certificates for shares of Restricted Stock until all restrictions on such
shares have lapsed, or that the Company will retain possession of certificates
for shares of Restricted Stock until all restrictions on such shares have
lapsed.

         (5) Right to Vote and to Receive Dividends. During the Restriction
Period, the Grantee shall have the right to vote shares of Restricted Stock and
to receive any dividends or other distributions paid on such shares, subject to
any restrictions deemed appropriate by the Committee.

         (6) Lapse of Restrictions. All restrictions imposed on Restricted Stock
shall lapse upon the expiration of the applicable Restriction Period and the
satisfaction of all conditions imposed by the Committee. The Committee may
determine, as to any or all Restricted Stock Grants, that the restrictions shall
lapse without regard to any Restriction Period.

         7. Stock Appreciation Rights

         (1) General Requirements. The Committee may grant SARs to an Employee
separately or in tandem with any Option (for all or a portion of the applicable
Option). Tandem SARs may be granted either at the time the Option is granted or
at any time thereafter while the Option remains outstanding. The Committee shall
establish the base amount of the SAR at the time the SAR is granted. Unless the
Committee determines otherwise, the base amount of each SAR shall be equal to
the per share Exercise Price of the related Option or, if there is no related
Option, the Fair Market Value of a share of Company Stock as of the date of
Grant of the SAR.

         (2) Tandem SARs. In the case of tandem SARs, the number of SARs granted
to a Grantee that shall be exercisable during a specified period shall not
exceed the number of shares of Company Stock that the Grantee may purchase upon
the exercise of the related Option during such period. Upon the exercise of an
Option, the SARs relating to the Company Stock covered

                                       5
<PAGE>
by such Option shall terminate. Upon the exercise of SARs, the related Option
shall terminate to the extent of an equal number of shares of Company Stock.

         (3) Exercisability. An SAR shall be exercisable during the period
specified by the Committee in the Grant Instrument and shall be subject to such
vesting and other restrictions as may be specified in the Grant Instrument. The
Committee may accelerate the exercisability of any or all outstanding SARs at
any time for any reason. Unless the Committee determines otherwise, SARs may
only be exercised while the Grantee is employed by the Company or during the
applicable period after termination of employment as described in Section 5(e).
A tandem SAR shall be exercisable only during the period when the Option to
which it is related is also exercisable. The Committee may from time to time
adopt such methods or procedures for exercising SARs as are consistent with
current technology and the Company's system for administering the Plan.

         (4) Value of SARs. When a Grantee exercises SARs, the Grantee shall
receive in settlement of such SARs an amount equal to the value of the stock
appreciation for the number of SARs exercised, payable in cash, Company Stock or
a combination thereof. The stock appreciation for an SAR is the amount by which
the Fair Market Value of the underlying Company Stock on the date of exercise of
the SAR exceeds the base amount of the SAR as described in Subsection (a).

         (5) Form of Payment. The Committee shall determine whether the
appreciation in an SAR shall be paid in the form of cash, shares of Company
Stock, or a combination of the two, in such proportion as the Committee deems
appropriate. For purposes of calculating the number of shares of Company Stock
to be received, shares of Company Stock shall be valued at their Fair Market
Value on the date of exercise of the SAR. If shares of Company Stock are to be
received upon exercise of an SAR, cash shall be delivered in lieu of any
fractional share.

8.       Employees Subject to Taxation Outside the United States

         With respect to Employees who are subject to taxation in countries
other than the United States, the Committee may make Grants on such terms and
conditions different from those specified in this Plan (including without
limitation granting stock options with a term longer than ten years if
appropriate to assure favorable tax treatment) as may in the judgment of the
Committee be necessary or desirable to foster and promote achievement of the
purposes of the Plan, and, in furtherance of such purposes, the Committee may
make such modifications, amendments, procedures and subplans as may be necessary
or advisable to comply with the laws of countries in which the Company operates
or has employees.

9.       Withholding of Taxes

         Grants under the Plan shall be subject to all applicable tax
withholding requirements. Tax withholding requirements may be satisfied in any
of the following ways:

         (1) The Company may deduct from all Grants paid in cash, or from other
wages paid to the Grantee, any taxes required by law to be withheld with respect
to such Grants;

                                       6
<PAGE>
         (2) A Grantee may elect to satisfy the Company's tax withholding
obligations with respect to a Grant by having shares withheld up to an amount
that does not exceed the Grantee's minimum applicable withholding tax rate;

         (3) A Grantee may satisfy the Company's withholding tax obligations by
tendering shares of Company Stock owned by the Grantee; or

         (4) A Grantee may satisfy the Company's withholding tax obligations by
such other method as the Committee may approve.

         10. Transferability of Grants. Only the Grantee may exercise rights
under a Grant during the Grantee's lifetime. A Grantee may not transfer those
rights except upon death by will, by the laws of descent and distribution or
pursuant to a written beneficiary designation filed with the Company. When a
Grantee dies, the personal representative or other person entitled to succeed to
the rights of the Grantee ("Successor Grantee") may exercise such rights. A
Successor Grantee must furnish proof satisfactory to the Company of his or her
right to receive the Grant under the Grantee's will, under the applicable laws
of descent and distribution or under the applicable beneficiary designation.
Notwithstanding the foregoing, the Senior Vice President of Human Resources of
the Company may, in his or her sole discretion, allow for the transfer of a
nonqualified stock option for no consideration to the Grantee's "Immediate
Family" upon such terms and conditions as are approved by the Senior Vice
President of Human Resources. In the event of such permitted transfer, the
transferee shall take such nonqualified stock option subject to the same
restrictions, terms and conditions in the stock option agreement at the time of
transfer. For this purpose, "Immediate Family" shall mean (i) the Grantee's
children, grandchildren, spouse or common law spouse, siblings or parents, as
well as (ii) a trust in which these persons (or the Grantee) have more than 50%
of the beneficial interest, a foundation in which these persons (or the Grantee)
control the management of assets, and any other entity in which these persons
(or the Grantee) own more than 50% of the voting interests."

         11. Change of Control of the Company

         As used herein, a "Change of Control" shall mean:

         (1) The acquisition by any individual, entity or group ("Person"),
including any "person" within the meaning of Section 13(d)(3) or 14(d)(2) of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), of beneficial
ownership, within the meaning of Rule 13d-3 promulgated under the Exchange Act,
of 33% or more of either (i) the then outstanding shares of common stock of the
Company (the "Outstanding Company Common Stock") or (ii) the combined voting
power of the then outstanding securities of the Company entitled to vote
generally in the election of directors (the "Outstanding Company Voting
Securities"); provided, however, that the following acquisitions of Outstanding
Company Common Stock or Outstanding Company Voting Securities shall not
constitute a Change in Control: (A) any acquisition by the Company, (B) any
acquisition by an employee benefit plan (or related trust) sponsored or
maintained by the Company or any corporation controlled by the Company, or (C)
any acquisition by any corporation pursuant to a reorganization, merger or
consolidation involving the Company, if, immediately after such reorganization,
merger or consolidation, each of the conditions described in clauses (i), (ii)
and (iii) of subsection (c) of this Section 11 shall be

                                       7
<PAGE>
satisfied; and provided further that, for purposes of clause (A), if any Person
(other than the Company or any employee benefit plan (or related trust)
sponsored or maintained by the Company or any corporation controlled by the
Company) shall become the beneficial owner of 33% or more of the Outstanding
Company Common Stock or 33% or more of the Outstanding Company Voting Securities
by reason of any acquisition of Outstanding Company Common Stock or Outstanding
Company Voting Securities by the Company and such Person shall, after such
acquisition by the Company, become the beneficial owner of any additional shares
of the Outstanding Company Common Stock or any additional Outstanding Voting
Securities and such beneficial ownership is publicly announced, such additional
beneficial ownership shall constitute a Change in Control;

         (2) Individuals who, as of the date hereof, constitute the Board (the
"Incumbent Board") cease for any reason to constitute at least a majority of
such Board; provided, however, that any individual who becomes a director of the
Company subsequent to the date hereof whose election, or nomination for election
by the Company's stockholders, was approved by the vote of at least
three-quarters of the directors then comprising the Incumbent Board (either by a
specific vote or by approval of the proxy statement of the Company in which such
person is named as a nominee for director, without objection to such nomination)
shall be deemed to have been a member of the Incumbent Board; and provided
further, that no individual who was initially elected as a director of the
Company as a result of an actual or threatened election contest, as such terms
are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act, or
any other actual or threatened solicitation of proxies or consents by or on
behalf of any Person other than the Board shall be deemed to have been a member
of the Incumbent Board;

         (3) Approval by the stockholders of the Company of a reorganization,
merger or consolidation involving the Company unless, in any such case,
immediately after such reorganization, merger or consolidation, (i) more than
50% of the then outstanding shares of common stock of the corporation resulting
from such reorganization, merger or consolidation and more than 50% of the
combined voting power of the then outstanding securities of such corporation
entitled to vote generally in the election of directors is then beneficially
owned, directly or indirectly, by all or substantially all of the individuals or
entities who were the beneficial owners, directly or indirectly, of the
Outstanding Company Common Stock and the Outstanding Company Voting Securities
immediately prior to such reorganization, merger or consolidation and in
substantially the same proportions relative to each other as their ownership,
immediately prior to such reorganization, merger or consolidation, of the
Outstanding Company Common Stock and the Outstanding Company Voting Securities,
as the case may be, (ii) no Person (other than the Company, any employee benefit
plan (or related trust) sponsored or maintained by the Company or the
corporation resulting from such reorganization, merger or consolidation (or any
corporation controlled by the Company), or any Person which beneficially owned,
immediately prior to such reorganization, merger or consolidation, directly or
indirectly, 33% or more of the Outstanding Company Common Stock or the
Outstanding Company Voting Securities, as the case may be) beneficially owns,
directly or indirectly, 33% or more of the then outstanding shares of common
stock of such corporation or 33% or more of the combined voting power of the
then outstanding securities of such corporation entitled to vote generally in
the election of directors and (iii) at least a majority of the members of the
board of directors of the corporation resulting from such reorganization, merger
or consolidation were members of the

                                       8
<PAGE>
Incumbent Board at the time of the execution of the initial agreement or action
of the Board providing for such reorganization, merger or consolidation; or

         (4) (i) Approval by the stockholders of the Company of a plan of
complete liquidation or dissolution of the Company or (ii) the sale or other
disposition of all or substantially all of the assets of the Company other than
to a corporation with respect to which, immediately after such sale or other
disposition, (A) more than 50% of the then outstanding shares of common stock
thereof and more than 50% of the combined voting power of the then outstanding
securities thereof entitled to vote generally in the election of directors is
then beneficially owned, directly or indirectly, by all or substantially all of
the individuals and entities who were the beneficial owners, respectively, of
the Outstanding Company Common Stock and the Outstanding Company Voting
Securities immediately prior to such sale or other disposition and in
substantially the same proportions relative to each other as their ownership,
immediately prior to such sale or other disposition, of the Outstanding Company
Common Stock and the Outstanding Company Voting Securities, as the case may be,
(B) no Person (other than the Company, any employee benefit plan (or related
trust) sponsored or maintained by the Company or such corporation (or any
corporation controlled by the Company), or any Person which beneficially owned,
immediately prior to such sale or other disposition, directly or indirectly, 33%
or more of the Outstanding Company Common Stock or the Outstanding Company
Voting Securities, as the case may be) beneficially owns, directly or
indirectly, 33% or more of the then outstanding shares of common stock thereof
or 33% or more of the combined voting power of the then outstanding securities
thereof entitled to vote generally in the election of directors and (C) at least
a majority of the members of the board of directors thereof were members of the
Incumbent Board at the time of the execution of the initial agreement or action
of the Board providing for such sale or other disposition (or were approved
directly or indirectly by the Incumbent Board).

         12. Consequences of a Change of Control

         (1) Acceleration. Upon a Change of Control, unless the Committee
determines otherwise, (i) all outstanding Options and SARs shall automatically
accelerate and become fully exercisable, and (ii) the restrictions and
conditions on all outstanding Restricted Stock shall immediately lapse.

         (2) Assumption of Grants. Upon a Change of Control where the Company is
not the surviving corporation (or survives only as a subsidiary of another
corporation), unless the Committee determines otherwise, all outstanding Options
and SARs that are not exercised shall be assumed by, or replaced with comparable
options or rights by, the surviving corporation, and other outstanding Grants
shall be converted to similar grants of the surviving corporation.

         (3) Other Alternatives. Notwithstanding the foregoing, subject to
subsection (d) below, in the event of a Change of Control, the Committee may
take one or both of the following actions with respect to any or all outstanding
Options and SARs: the Committee may (i) require that Grantees surrender their
outstanding Options and SARs in exchange for a payment by the Company, in cash
or Company Stock as determined by the Committee, in an amount equal to the
amount by which the then Fair Market Value of the shares of Company Stock
subject to the Grantee's unexercised Options and SARs exceeds the Exercise Price
of the Options or the base

                                       9
<PAGE>
amount of the SARs, as applicable or (ii) after giving Grantees an opportunity
to exercise their outstanding Options and SARs, terminate any or all unexercised
Options and SARs at such time as the Committee deems appropriate. Such surrender
or termination shall take place as of the date of the Change of Control or such
other date as the Committee may specify.

         (4) Limitations. Notwithstanding anything in the Plan to the contrary,
in the event of a Change of Control, the Committee shall not have the right to
take any actions described in the Plan (including without limitation actions
described in Subsection (c) above) that would make the Change of Control
ineligible for pooling of interests accounting treatment or that would make the
Change of Control ineligible for desired tax treatment if, in the absence of
such right, the Change of Control would qualify for such treatment and the
Company intends to use such treatment with respect to the Change of Control.

         13. Requirements for Issuance or Transfer of Shares

         No Company Stock shall be issued or transferred in connection with any
Grant hereunder unless and until all legal requirements applicable to the
issuance or transfer of such Company Stock have been complied with to the
satisfaction of the Committee. The Committee shall have the right to condition
any Grant made to any Grantee hereunder on such Grantee's undertaking in writing
to comply with such restrictions on his or her subsequent disposition of such
shares of Company Stock as the Committee shall deem necessary or advisable, and
certificates representing such shares may be legended to reflect any such
restrictions. Certificates representing shares of Company Stock issued or
transferred under the Plan will be subject to such stop-transfer orders and
other restrictions as may be required by applicable laws, regulations and
interpretations, including any requirement that a legend be placed thereon.

         14. Amendment and Termination of the Plan

         (1) Amendment. The Board may amend or terminate the Plan at any time.

         (2) Termination of Plan. The Plan shall terminate on the day
immediately preceding the tenth anniversary of its effective date, unless the
Plan is terminated earlier by the Board or is extended by the Board with the
approval of the shareholders.

         (3) Termination and Amendment of Outstanding Grants. A termination or
amendment of the Plan that occurs after a Grant is made shall not materially
impair the rights of a Grantee unless the Grantee consents or unless the
Committee acts under Section 20(b). The termination of the Plan shall not impair
the power and authority of the Committee with respect to an outstanding Grant.
Whether or not the Plan has terminated, an outstanding Grant may be terminated
or amended under Section 20(b) or may be amended by agreement of the Company and
the Grantee consistent with the Plan.

         (4) Governing Document. The Plan shall be the controlling document. No
other statements, representations, explanatory materials or examples, oral or
written, may amend the Plan in any manner. The Plan shall be binding upon and
enforceable against the Company and its successors and assigns.

                                       10
<PAGE>

         15. Funding of the Plan

         This Plan shall be unfunded. The Company shall not be required to
establish any special or separate fund or to make any other segregation of
assets to assure the payment of any Grants under this Plan. In no event shall
interest be paid or accrued on any Grant, including unpaid installments of
Grants.

         16. Rights of Participants

         Nothing in this Plan shall entitle any Employee or other person to any
claim or right to be granted a Grant under this Plan. Neither this Plan nor any
action taken hereunder shall be construed as giving any individual any rights to
be retained by or in the employ of the Company or any other employment rights.

         17. No Fractional Shares

         No fractional shares of Company Stock shall be issued or delivered
pursuant to the Plan or any Grant. The Committee shall determine whether cash,
other awards or other property shall be issued or paid in lieu of such
fractional shares or whether such fractional shares or any rights thereto shall
be forfeited or otherwise eliminated.

         18. Headings

         Section headings are for reference only. In the event of a conflict
between a title and the content of a Section, the content of the Section shall
control.

         19. Effective Date of the Plan.

         The Plan shall be effective as of January 1, 1999. The Plan was amended
as of September 21, 2000 and was further amended and restated effective as of
September 24, 2001.

         20. Miscellaneous

         (1) Grants in Connection with Corporate Transactions and Otherwise.
Nothing contained in this Plan shall be construed to (i) limit the right of the
Committee to make Grants under this Plan in connection with the acquisition, by
purchase, lease, merger, consolidation or otherwise, of the business or assets
of any corporation, firm or association, including Grants to employees thereof
who become Employees of the Company, or for other proper corporate purposes, or
(ii) limit the right of the Company to grant stock options or make other awards
outside of this Plan. Without limiting the foregoing, the Committee may make a
Grant to an employee of another corporation who becomes an Employee by reason of
a corporate merger, consolidation, acquisition of stock or property,
reorganization or liquidation involving the Company or any of its subsidiaries
in substitution for a stock option or restricted stock grant made by such
corporation. The terms and conditions of the substitute grants may vary from the
terms and conditions required by the Plan and from those of the substituted
stock incentives. The Committee shall prescribe the provisions of the substitute
grants.

                                       11
<PAGE>
         (2) Compliance with Law. The Plan, the exercise of Options and SARs and
the obligations of the Company to issue or transfer shares of Company Stock
under Grants shall be subject to all applicable laws and to approvals by any
governmental or regulatory agency as may be required. The Committee may revoke
any Grant if it is contrary to law or modify a Grant to bring it into compliance
with any valid and mandatory government regulation. The Committee may also adopt
rules regarding the withholding of taxes on payments to Grantees. The Committee
may, in its sole discretion, agree to limit its authority under this Section.

         (3) Governing Law. The validity, construction, interpretation and
effect of the Plan and Grant Instruments issued under the Plan shall be governed
and construed by and determined in accordance with the laws of the State of
Delaware, without giving effect to the conflict of laws provisions thereof.

                                       12

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