Document:

<PAGE>

                                                                     Exhibit 4.2

                         MSC INDUSTRIAL DIRECT CO., INC.
                             2001 STOCK OPTION PLAN
                         (EFFECTIVE SEPTEMBER 20, 2001)

1.       PURPOSE.

         The purposes of the 2001 Stock Option Plan (the "Plan") are to induce
certain employees, directors and consultants to remain in the employ, or to
continue to serve as directors and consultants, of MSC Industrial Direct Co.,
Inc. (the "Company") and its present and future subsidiary corporations (each a
"Subsidiary"), as defined in Section 424(f) of the Internal Revenue Code of
1986, as amended (the "Code"), to attract new individuals to enter into such
employment or service and to encourage such individuals to secure stock
ownership in, or to increase on reasonable terms their stock ownership in, the
Company. The Board of Directors of the Company (the "Board") believes that the
granting of stock options (the "Options") under the Plan will promote continuity
of management and increased incentive and personal interest in the welfare of
the Company by those who are or may become primarily responsible for shaping and
carrying out the long range plans of the Company and securing its continued
growth and financial success. Options granted hereunder are intended to be
either (a) "incentive stock options" (which term, when used herein, shall have
the meaning ascribed thereto by the provisions of Section 422(b) of the Code),
(b) options which are not incentive stock options ("non-incentive stock
options") or (c) a combination thereof, as determined by the Committee (as
hereinafter defined) referred to in Section 4 hereof at the time of the grant
thereof.

2.       EFFECTIVE DATE OF THE PLAN.

         The Plan, as adopted by the Board on September 20, 2001, shall become
effective on September 20, 2001, subject to ratification by the shareholders of
the Company within 12 months of such date.

3.       STOCK SUBJECT TO PLAN.

         5,000,000 of the authorized but unissued shares of the Class A common
stock, $.001 par value, of the Company (the "Class A Common Stock") are hereby
reserved for issuance upon the exercise of Options granted under the Plan;
provided, however, that the number of shares so reserved may from time to time
be reduced to the extent that a corresponding number of issued and outstanding
shares of the Class A Common Stock are purchased by the Company and set aside
for issuance upon the exercise of Options. If any Options expire or terminate
for any reason without having been exercised in full, the unpurchased shares
subject thereto shall again be available for the purposes of the Plan. For the
purposes of this Section 3, the number of shares purchased upon the exercise of
an Option shall be determined without giving effect to the use by a Participant
(as hereinafter defined) of the right set forth in Section 10C to deliver shares
of the Class A Common Stock in payment of all or a portion of the option price
or the use by a Participant of the right set forth in Section 14C to cause the
Company to withhold from the

                                       1
<PAGE>

shares of the Class A Common Stock otherwise deliverable to him or her upon the
exercise of an Option shares of the Class A Common Stock in payment of all or a
portion of his or her withholding obligation arising from such exercise.

4.       COMMITTEE.

         The Plan shall be administered by a committee consisting of three or
more members of the Board (the "Committee") all of whom are intended to be
"non-employee directors" within the meaning of Rule 16b-3(b)(3) promulgated
under the Securities Exchange Act of 1934, as amended (the "Exchange Act") and
"outside directors" within the contemplation of Section 162(m)(4)(C)(i) of the
Code. In the event that there shall not be at least three members of the
Committee who qualify as "non-employee" directors within the meaning of Rule
16b-3 of the Exchange Act, all Option grants under the Plan will be made by the
Board on the recommendation of the Committee. The Committee shall be appointed
annually by the Board, which may at any time and from time to time remove any
members of the Committee, with or without cause, and, in accordance with the
requirements set forth in the first sentence of this Section 4, appoint
additional members to the Committee and fill vacancies, however caused, on the
Committee. A majority of the members of the Committee shall constitute a quorum.
All determinations of the Committee shall be made by a majority of its members
present at a meeting duly called and held or by unanimous written consent. Any
decision or determination of the Committee made by unanimous written consent
shall be fully as effective as if it had been made at a meeting duly called and
held.

5.       ADMINISTRATION.

         Subject to the express provisions of the Plan, the Committee shall have
complete authority, in its discretion, to interpret the Plan, to prescribe,
amend and rescind rules and regulations relating to it, to determine the terms
and provisions of the respective option agreements or certificates (which need
not be identical), to determine the individuals (each a "Participant") to whom
and the times and the prices at which Options shall be granted, the periods
during which each Option shall be exercisable, the number of shares of the Class
A Common Stock to be subject to each Option and whether such Option shall be an
incentive stock option or a non-incentive stock option and to make all other
determinations necessary or advisable for the administration of the Plan;
provided, however, that directors of the Company who are not employed by the
Company or any of the Subsidiaries (each a "Non-Employee Director") shall only
be granted Options in accordance with the provisions of Section 6B. In making
such determinations, the Committee may take into account the nature of the
services rendered by the respective employees and consultants, their present and
potential contributions to the success of the Company and the Subsidiaries and
such other factors as the Committee in its discretion shall deem relevant. The
Committee's determination on the matters referred to in this Section 5 shall be
conclusive. Any dispute or disagreement which may arise under or as a result of
or with respect to any Option shall be determined by the Committee, in its sole
discretion, and any interpretations by the Committee of the terms of any Option
shall be final, binding and conclusive.

                                       2
<PAGE>

6.       ELIGIBILITY.

         A. An Option may be granted only to (i) an employee or consultant of
the Company or a Subsidiary, (ii) to the extent provided in Section 6B, a
Non-Employee Director and (iii) employees of a corporation or other business
enterprise which has been acquired by the Company or a Subsidiary, whether by
exchange or purchase of stock, purchase of assets, merger or reverse merger or
otherwise, who hold options with respect to the stock of such corporation which
the Company has agreed to assume.

         B. (i) At the first meeting of the Board immediately following each
annual meeting of the shareholders of the Company, each Non-Employee Director
shall be granted an Option (a "Non-Employee Director's Formula Option") to
purchase 5,000 shares of the Class A Common Stock at the initial per share
option price equal to the fair market value of a share of the Class A Common
Stock on the date of grant; provided, however, that if a Non-Employee Director
shall receive a grant pursuant to Section 6B of the Company's 1998 Stock Option
Plan for any year, he or she shall not be entitled to receive a Non-Employee
Director's Formula Option for such year under this Section 6B.

         (ii) Each Non-Employee Director who first becomes a director subsequent
to the date of any annual meeting of the shareholders of the Company, and prior
to the date of the next succeeding annual meeting of the shareholders of the
Company, shall be granted, on the date he or she becomes a director, a
Non-Employee Director's Formula Option to purchase the number of shares of the
Class A Common Stock equal to the product of (a) 5,000 and (b) a fraction, the
numerator of which is the number of full calendar months prior to the next
scheduled annual meeting of shareholders and the denominator of which is 12, at
the initial per share option price equal to the fair market value of a share of
the Class A Common Stock on the date of grant.

         (iii) A Non-Employee Director may not exercise a Non-Employee
Director's Formula Option during the period commencing on the date of the
granting of such Option to him or her and ending on the day immediately
preceding the first anniversary of such date. A Non-Employee Director may (a)
during the period commencing on the first anniversary of the date of the
granting of a Non-Employee Director's Formula Option to him or her and ending on
the day immediately preceding the second anniversary of such date, exercise such
Option with respect to one-half of the shares granted thereby, and (b) during
the period commencing on such second anniversary, exercise such Option with
respect to all of the shares granted thereby.

7.       OPTION PRICES.

         A. Except as otherwise provided in Section 17, the initial per share
option price of any Option which is an incentive stock option shall be the price
determined by the Committee, but not less than the fair market value of a share
of the Class A Common Stock on the date of grant; provided, however, that, in
the case of a Participant who owns (within the meaning of Section 424(d) of the
Code) more than 10% of the total combined voting power of the two classes of the
Company's common stock (the "Common Stock") at the time an Option which is an
incentive stock option is granted to him or her, the initial per share option
price shall not be less than 110% of the fair market value of a share of the
Class A Common Stock on the date of grant.

                                       3
<PAGE>

         B. Except as otherwise provided in Section 17, the initial per share
option price of any Option which is a non-incentive stock option shall not be
less than 85% of the fair market value of a share of the Class A Common Stock on
the date of the grant; provided, however, that, in the case of a non-incentive
stock option granted to a person who is, or in the judgment of the Committee may
reasonably be expected to become, a "covered employee" within the meaning of
Section 162(m)(3) of the Code, and in the case of a Non-Employee Director's
Formula Option, the initial per share option price shall not be less than the
fair market value of a share of the Class A Common Stock on the date of grant.

         C. For all purposes of the Plan, the fair market value of a share of
the Class A Common Stock on any date shall be equal to (i) the closing sale
price of the Class A Common Stock on the New York Stock Exchange on the business
day preceding such date or (ii) if there is no sale of the Class A Common Stock
on such Exchange on such business day, the average of the bid and asked prices
on such Exchange at the close of the market on such business day.

8.       OPTION TERM.

         Participants shall be granted Options for such term as the Committee
shall determine, not in excess of 10 years from the date of the granting
thereof; provided, however, that, except as otherwise provided in Section 17, in
the case of a Participant who owns (within the meaning of Section 424(d) of the
Code) more than 10% of the total combined voting power of the Common Stock of
the Company at the time an Option which is an incentive stock option is granted
to him or her, the term with respect to such Option shall not be in excess of
five years from the date of the granting thereof; provided further, however,
that the term of each Non-Employee Director's Formula Option shall be 10 years
from the date of the granting thereof.

9.       LIMITATIONS ON AMOUNT OF OPTIONS GRANTED.

         A. Except as otherwise provided in Section 17, the aggregate fair
market value of the shares of the Class A Common Stock for which any Participant
may be granted incentive stock options which are exercisable for the first time
in any calendar year (whether under the terms of the Plan or any other stock
option plan of the Company) shall not exceed $100,000.

         B. Except as otherwise provided in Section 17, no Participant shall,
during any fiscal year of the Company, be granted Options to purchase more than
400,000 shares of the Class A Common Stock.

10.      EXERCISE OF OPTIONS.

         A. Except as otherwise provided in Section 17 and except as otherwise
determined by the Committee at the time of the grant of an Option other than a
Non-Employee Director's Formula Option, a Participant may not exercise an Option
during the period commencing on the date of the granting of such Option to him
or her and ending on the day immediately preceding the first anniversary of such
date. Except as otherwise set forth in Sections 9A and 17 and in the preceding
sentence, a Participant may (i) during the period commencing on the first
anniversary of the date of the granting of an Option to him or her and ending on
the day immediately preceding the second anniversary of such date, exercise such
Option with respect to one-fifth of the shares granted thereby, (ii) during the
period commencing on such second anniversary and ending on the day immediately
preceding the third anniversary of the date of the granting of such

                                       4
<PAGE>

Option, exercise such Option with respect to two-fifths of the shares granted
thereby, (iii) during the period commencing on such third anniversary and ending
on the day immediately preceding the fourth anniversary of the date of the
granting of such Option, exercise such Option with respect to three-fifths of
the shares granted thereby, (iv) during the period commencing on such fourth
anniversary and ending on the day immediately preceding the fifth anniversary of
the date of the granting of such Option, exercise such Option with respect to
four-fifths of the shares granted thereby and (v) during the period commencing
on such fifth anniversary, exercise such Option with respect to all of the
shares granted thereby. Notwithstanding the foregoing provisions of this Section
10A, an Option granted to a Participant other than a Non-Employee Director's
Formula Option will, to the extent not already exercisable, become exercisable
in full on the Participant's 62nd birthday.

         B. Except as hereinbefore otherwise set forth, an Option may be
exercised either in whole at any time or in part from time to time.

         C. An Option may be exercised only by a written notice of intent to
exercise such Option with respect to a specific number of shares of the Class A
Common Stock and payment to the Company of the amount of the option price for
the number of shares of the Class A Common Stock so specified; provided,
however, that, if the Committee shall in its sole discretion so determine at the
time of the grant of any Option, all or any portion of such payment may be made
in kind by the delivery of shares of the Class A Common Stock having a fair
market value equal to the portion of the option price so paid; provided further,
however, that no portion of such payment may be made by delivering shares of the
Class A Common Stock acquired upon the exercise of an Option if such shares
shall not have been held by the Participant for at least six months; and
provided further, however, that, subject to the requirements of Regulation T (as
in effect from time to time) promulgated under the Exchange Act, the Committee
may implement procedures to allow a broker chosen by a Participant to make
payment of all or any portion of the option price payable upon the exercise of
an Option and receive, on behalf of such Participant, all or any portion of the
shares of the Class A Common Stock issuable upon such exercise.

         D. Except in the case of a Non-Employee Director's Formula Option, the
Committee may, in its discretion, permit any Option to be exercised, in whole or
in part, prior to the time when it would otherwise be exercisable.

         E. Notwithstanding any other provision of the Plan to the contrary,
including, but not limited to, the provisions of Section 10B, if any Participant
shall have effected a "Hardship Withdrawal" from a "401(k) Plan" maintained by
the Company and/or one or more of the Subsidiaries, then, during the period of
one year commencing on the date of such Hardship Withdrawal, such Participant
may not exercise any Option using cash. For the purpose of this Section 10E, a
Hardship Withdrawal shall mean a distribution to a Participant provided for in
Reg. ss. 1.401(k)-1(d)(1)(ii) promulgated under Section 401(k)(2)(B)(i)(iv) of
the Code and a 401(k) Plan shall mean a plan which is a "qualified plan" within
the contemplation of section 401(a) of the Code which contains a "qualified cash
or deferred arrangement" within the contemplation of section 401(k)(2) of the
Code.

         F. Notwithstanding the provisions of Section 10A, in the event that a
Change of Control of the Company shall occur, then, each Option theretofore
granted to any Participant which shall not have theretofore expired or otherwise
been cancelled or become unexercisable

                                       5
<PAGE>

shall become immediately exercisable in full. For purposes hereof a "Change in
Control" of the Company shall occur or be deemed to have occurred only if any of
the following events occurs: (i) any "person," as such term is used in Sections
13(d) and 14(d) of the Exchange Act (other than the Company, any trustee or
other fiduciary holding securities under an employee benefit plan of the
Company, or any corporation owned directly or indirectly by the shareholders of
the Company in substantially the same proportion as the ownership of stock of
the Company) is or becomes the "beneficial owner" (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of the Company
representing more than 50% of the combined voting power of the Company's then
outstanding securities; (ii) individuals who, as of the date of grant of an
Option, constitute the Board (as of the Date of Grant, the "Incumbent Board")
cease for any reason to constitute at least a majority of the Board, provided
that any person becoming a director subsequent to the date hereof whose
election, or nomination for election by the Company's shareholders, was approved
by a vote of at least a majority of the directors then comprising the Incumbent
Board (other than an election or nomination of an individual whose initial
assumption of office is in connection with an actual or threatened election
contest relating to the election of the directors of the Company, as such terms
are used in Rule 14a-11 of Regulation 14A under the Exchange Act) shall be, for
purposes of this Plan, considered as though such person were a member of the
Incumbent Board; or (iii) the shareholders of the Company approve a merger or
consolidation of the Company with any other corporation, other than (x) a merger
or consolidation which would result in the voting securities of the Company
outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity) more than 60% of the combined voting power of the voting
securities of the Company or such surviving entity outstanding immediately after
such merger or consolidation or (y) a merger or consolidation effected to
implement a recapitalization of the Company (or similar transaction) in which no
"person" (as hereinabove defined) acquires more than 50% of the combined voting
power of the Company's then outstanding securities; or (iv) the shareholders of
the Company approve a plan of complete liquidation of the Company or an
agreement for the sale or disposition by the Company of all or substantially all
of the Company's assets. In the event that a Change in Control shall occur,
then, from and after the time of such event, neither the provisions of this
Section 10F nor any of the rights of any Participant thereunder shall be
modified or amended in any way.

11.      TRANSFERABILITY.

         No Option shall be assignable or transferable except by will and/or by
the laws of descent and distribution and, during the life of any Participant,
each Option granted to him or her may be exercised only by him or her.

12.      TERMINATION OF EMPLOYMENT.

         A. In the event a Participant leaves the employ of the Company and the
Subsidiaries or ceases to serve as a consultant to the Company and the
Subsidiaries and/or as a Non-Employee Director of the Company, whether
voluntarily or otherwise but other than by reason of his or her retirement,
permanent disability or death, each Option theretofore granted to him or her
which shall not have theretofore expired or otherwise been cancelled shall, to
the extent exercisable on the date of such termination of employment or service
and not theretofore exercised, terminate upon the earlier to occur of the
expiration of 30 days after the date of such

                                       6
<PAGE>

Participant's termination of employment or service and the date of termination
specified in such Option. Notwithstanding the foregoing, if a Participant's
employment by the Company and the Subsidiaries or service as a consultant and/or
as a Non-Employee Director of the Company is terminated for "cause" (as defined
herein), each Option theretofore granted to him or her which shall not have
theretofore expired or otherwise been cancelled shall, to the extent not
theretofore exercised, terminate immediately.

         B. In the event a Participant leaves the employ of the Company and the
Subsidiaries or ceases to serve as a consultant to the Company and the
Subsidiaries and/or as a Non-Employee Director of the Company by reason of his
or her retirement on or after his or her 65th birthday and five years of service
with the Company and/or the Subsidiaries, each Option theretofore granted to him
or her which shall not have theretofore expired or otherwise been cancelled
shall, to the extent not theretofore exercised, terminate upon the earlier to
occur of the expiration of one year after the date of such retirement and the
date of termination specified in such Option.

         C. In the event a Participant's employment with the Company and the
Subsidiaries or service as a consultant and/or as a Non-Employee Director of the
Company terminates by reason of his or her permanent disability (within the
meaning of Section 22(e)(3) of the Code), each Option theretofore granted to him
or her which shall not have theretofore expired or otherwise been cancelled
shall immediately become exercisable in full and shall, to the extent not
theretofore exercised, terminate upon the earlier to occur of one year after the
date of such termination of employment or service and the date of termination
specified in such option.

         D. If a Participant's employment with the Company and the Subsidiaries
or service as a consultant to the Company and the Subsidiaries and/or as a
Non-Employee Director of the Company terminates by reason of his or her death,
each Option theretofore granted to him or her which shall not have theretofore
expired or otherwise been cancelled shall become immediately exercisable in full
and shall, to the extent not theretofore exercised, terminate upon the earlier
to occur of the expiration of one year after the date of the qualification of a
representative of his or her estate and the date of termination specified in
such Option.

         E. For purposes of the foregoing, the term "cause" shall mean: (i) the
commission by a Participant of any act or omission that would constitute a
felony under federal, state or equivalent foreign law, (ii) the commission by a
Participant of any act of moral turpitude, (iii) disloyalty, fraud, dishonesty,
embezzlement, theft, disclosure of trade secrets or confidential information or
other acts or omissions that result in a breach of any fiduciary or other
material duty to the Company and/or the Subsidiaries or (iv) continued alcohol
or other substance abuse that renders a Participant incapable of performing his
or her material duties to the satisfaction of the Company and/or the
Subsidiaries.

13.      ADJUSTMENT OF NUMBER OF SHARES.

         A. If a dividend shall be declared upon the Class A Common Stock
payable in shares of the Class A Common Stock, the number of shares of the Class
A Common Stock then subject to any Option and the number of shares of the Class
A Common Stock reserved for issuance in accordance with the provisions of the
Plan but not yet covered by an Option and the number of shares set forth in
Sections 6B and 9B shall be adjusted by adding to each share the number of

                                       7
<PAGE>

shares which would be distributable thereon if such shares had been outstanding
on the date fixed for determining the shareholders entitled to receive such
stock dividend. If the outstanding shares of the Class A Common Stock shall be
changed into or exchanged for a different number or kind of shares of stock or
other securities of the Company or of another corporation, whether through
reorganization, recapitalization, stock split-up, combination of shares, sale of
assets, merger or consolidation in which the Company is the surviving
corporation, then, there shall be substituted for each share of the Class A
Common Stock then subject to any Option and for each share of the Class A Common
Stock reserved for issuance in accordance with the provisions of the Plan but
not yet covered by an Option and for each share of the Class A Common Stock
referred to in Sections 6B and 9B, the number and kind of shares of stock or
other securities into which each outstanding share of the Class A Common Stock
shall be so changed or for which each such share shall be exchanged.

         B. If there shall be any change, other than as specified in Section
13A, in the number or kind of outstanding shares of the Class A Common Stock, or
of any stock or other securities into which the Class A Common Stock shall have
been changed, or for which it shall have been exchanged, then, if the Committee
shall, in its sole discretion, determine that such change equitably requires an
adjustment in the number or kind of shares then subject to any Option and the
number or kind of shares reserved for issuance in accordance with the provisions
of the Plan but not yet covered by an Option and the number or kind of shares
referred to in Sections 6B and 9B, such adjustment shall be made by the
Committee and shall be effective and binding for all purposes of the Plan and of
each stock option agreement or certificate entered into in accordance with the
provisions of the Plan.

         C. In the case of any substitution or adjustment in accordance with the
provisions of this Section 13, the option price in each stock option agreement
or certificate for each share covered thereby prior to such substitution or
adjustment shall be the option price for all shares of stock or other securities
which shall have been substituted for such share or to which such share shall
have been adjusted in accordance with the provisions of this Section 13.

         D. No adjustment or substitution provided for in this Section 13 shall
require the Company to sell a fractional share under any stock option agreement
or certificate.

         E. In the event of the dissolution or liquidation of the Company, or a
merger, reorganization or consolidation in which the Company is not the
surviving corporation, then, except as otherwise provided in the second sentence
of Section 13A, each Option, to the extent not theretofore exercised, shall
terminate forthwith.

14.      PURCHASE FOR INVESTMENT, WITHHOLDING AND WAIVERS.

         A. Unless the shares to be issued upon the exercise of an Option by a
Participant shall be registered prior to the issuance thereof under the
Securities Act of 1933, as amended, such Participant will, as a condition of the
Company's obligation to issue such shares, be required to give a representation
in writing that he or she is acquiring such shares for his or her own account as
an investment and not with a view to, or for sale in connection with, the
distribution of any thereof.

                                       8
<PAGE>

         B. In the event of the death of a Participant, a condition of
exercising any Option shall be the delivery to the Company of such tax waivers
and other documents as the Committee shall determine.

         C. In the case of each non-incentive stock option, a condition of
exercising the same shall be the entry by the person exercising the same into
such arrangements with the Company with respect to withholding as the Committee
may determine. A Participant may, in the discretion of the Committee and subject
to such rules as the Committee may adopt, elect to satisfy his or her
withholding obligation arising as a result of the exercise of a non-incentive
option, in whole or in part, by electing to deliver to the Company shares of the
Class A Common Stock (other than shares of the Class A Common Stock which were
issued under the Company's 1998 Restricted Stock Plan as to which the
restrictions have not lapsed) having a fair market value, determined as of the
date that the amount to be withheld is determined, equal to the amount required
to be so withheld. Such Participant shall pay the Company in cash for any
fractional share that would otherwise be required to be delivered.

15.      NO SHAREHOLDER STATUS.

         Neither any Participant nor his or her legal representatives, legatees
or distributees shall be or be deemed to be the holder of any share of the Class
A Common Stock covered by an Option unless and until a certificate for such
share has been issued. Upon payment of the purchase price thereof, a share
issued upon exercise of an Option shall be fully paid and non-assessable.

16.      NO RESTRICTIONS ON CORPORATE ACTS.

         Neither the existence of the Plan nor any Option shall in any way
affect the right or power of the Company or its shareholders to make or
authorize any or all adjustments, recapitalizations, reorganizations or other
changes in the Company's capital structure or its business, or any merger or
consolidation of the Company, or any issue of bonds, debentures, preferred or
prior preference stock ahead of or affecting the Class A Common Stock or the
rights thereof, or dissolution or liquidation of the Company, or any sale or
transfer of all or any part of its assets or business, or any other corporate
act or proceeding whether of a similar character or otherwise.

17.      OPTIONS GRANTED IN CONNECTION WITH ACQUISITIONS.

         If the Committee determines that, in connection with the acquisition by
the Company or a Subsidiary of another corporation which will become a
Subsidiary or division of the Company or a Subsidiary (such corporation being
hereafter referred to as an "Acquired Subsidiary"), Options may be granted
hereunder to employees and other personnel of an Acquired Subsidiary in exchange
for then outstanding options to purchase securities of the Acquired Subsidiary.
Such Options may be granted at such option prices, may be exercisable
immediately or at any time or times either in whole or in part, and may contain
such other provisions not inconsistent with the Plan, or the requirements set
forth in Section 20 that certain amendments to the Plan be approved by the
shareholders of the Company, as the Committee, in its discretion, shall deem
appropriate at the time of the granting of such Options.

                                       9
<PAGE>

18.      DECLINING MARKET PRICE.

         If the fair market value of the Class A Common Stock declines below the
option price set forth in any Option, the Committee may, at any time, adjust,
reduce, cancel and regrant any unexercised Option or take any similar action it
deems to be for the benefit of the Participant in light of the declining fair
market value of the Class A Common Stock; provided, however, that none of the
foregoing actions may be taken without the prior approval of the Board and none
of the foregoing actions may be taken with respect to a Non-Employee Director's
Formula Option.

19.      NO EMPLOYMENT OR SERVICE RIGHT.

         Neither the existence of the Plan nor the grant of any Option shall
require the Company or any Subsidiary to continue any Participant in the employ
of the Company or such Subsidiary or require the Company to continue any
Participant as a director of the Company.

20.      TERMINATION AND AMENDMENT OF THE PLAN.

         The Board may at any time terminate the Plan or make such modifications
of the Plan as it shall deem advisable; provided, however, that the Board may
not without further approval by a majority vote of the shareholders entitled to
vote on the matter present in person or by proxy at any special or annual
meeting of the shareholders, increase the number of shares as to which Options
may be granted under the Plan (as adjusted in accordance with the provisions of
Section 13), or change the manner of determining the option prices, or extend
the period during which an Option may be granted or exercised; and provided
further, however, the provisions of the Plan governing the grant of Non-Employee
Director's Formula Options may not be amended except by the vote of a majority
of the members of the Board and by the vote of a majority of the members of the
Board who are employees of the Company or a Subsidiary. Except as otherwise
provided in Section 13, no termination or amendment of the Plan may, without the
consent of the Participant to whom any Option shall theretofore have been
granted, adversely affect the rights of such Participant under such Option.

21.      EXPIRATION AND TERMINATION OF THE PLAN.

         The Plan shall terminate on September 19, 2011 or at such earlier time
as the Board may determine. Options may be granted under the Plan at any time
and from time to time prior to its termination. Any Option outstanding under the
Plan at the time of the termination of the Plan shall remain in effect until
such Option shall have been exercised or shall have expired in accordance with
its terms.

                                       10<PAGE>
                                                                    EXHIBIT 10.1

                                    AGREEMENT

         THIS AGREEMENT ("Agreement") is made and entered into as of March 8,
2002, by and among GROUP 4 FALCK A/S, a Danish company (referred to herein
together with its subsidiaries and affiliates as "Group 4 Falck"), WACKENHUT
CORRECTIONS CORPORATION, a Florida corporation (referred to herein together with
its subsidiaries and affiliates as "WCC"), and THE WACKENHUT CORPORATION, a
Florida corporation and, where the meaning of the Agreement so indicates, the
successor entity after the Acquisition (referred to herein together with its
subsidiaries and affiliates (other than WCC) as "TWC").

         WHEREAS, Group 4 Falck proposes to acquire TWC (the "Acquisition"); and

         WHEREAS, TWC owns approximately 57% of WCC and public shareholders own
approximately 43% of WCC on an undiluted basis; and

         WHEREAS, Group 4 Falck desires that the Board of Directors of WCC,
acting on the advice of a committee of independent directors, approve the
Acquisition in order to avoid the adverse voting rights consequences which
otherwise would result under the Florida Control Share Act, Fla.
Stat.ss.607.0902; and

         WHEREAS, WCC desires that Group 4 Falck and TWC provide for certain
procedures to ensure that the interests of the WCC minority shareholders are
protected, including by means of ensuring the independence of the Board of
Directors, the continuity of management and the ability to compete freely with
Group 4 Falck; and

         WHEREAS, WCC is willing to provide Group 4 Falck with certain
representations, warranties and covenants relating to the Acquisition;

         NOW, THEREFORE, in consideration of the premises and agreement and
covenants contained herein, the parties hereto do hereby agree as follows:

         1. COVENANTS. Based on the fact that the Board of Directors of WCC has
approved the Acquisition, Group 4 Falck and TWC agree to take all necessary
action to implement the following on and after the effective date of the
Acquisition:

                  (a) The majority of the Board of Directors of WCC shall be
composed of Independent Directors. As used in this Agreement, the term
"Independent Directors" shall mean persons who are not (i) officers, directors
(other than directors of WCC) or employees of Group 4 Falck, TWC, WCC or any of
their subsidiaries or affiliates; (ii) officers, directors, employees or
shareholders of any entity that provides goods or services of a material nature
to Group 4 Falck, TWC or WCC or any of their subsidiaries; or (iii) members of
the immediate families of any such persons. Immediately following the effective
date of the Acquisition the Board of Directors shall be comprised of nine
members, two of which shall be reserved for Group 4 Falck representatives
("Group 4 Falck Directors"), two of which shall be reserved for WCC officers

                                       1
<PAGE>

("WCC Directors"), and five of which shall be Independent Directors. The names
and designation of all of the members of the WCC Board of Directors immediately
following the Acquisition shall be as set forth on EXHIBIT A attached hereto.
The remaining current WCC directors have agreed to resign contemporaneously with
the consummation of the Acquisition.

                  (b) Two members of the Nominating and Compensation Committee
of the Board of Directors of WCC shall be Independent Directors and one member
of such Committee shall be a Group 4 Falck Director. The Group 4 Falck Directors
shall have the right to veto up to two Independent Director nominees of the
Nominating and Compensation Committee for election as directors per year, in
which case the Nominating Committee shall nominate alternative nominees. Group 4
Falck agrees to cause TWC to vote its shares of WCC common stock in favor of the
non-vetoed and/or replacement nominees designated by the Nominating and
Compensation Committee. Subject to the due exercise of their fiduciary duties,
the Nominating and Compensation Committee will nominate the nominees of Group 4
Falck as the Group 4 Falck Directors. Group 4 Falck acknowledges that the Audit
Committee of the Board of Directors of WCC is required by applicable regulations
to be composed entirely of Independent Directors. This Section 1(b) will
terminate on the one-year anniversary of the consummation of the Acquisition.

                  (c) No officer, director, employee or representative of Global
Solutions Ltd or any other division of Group 4 Falck that includes its prison
management and related services shall be a director of WCC.

                  (d) No representatives or designees of Group 4 Falck or TWC
shall be directors of any non-United States subsidiary of WCC.

                  (e) Management lines of reporting for WCC executives shall be
directly to the WCC Board of Directors and not to any Group 4 Falck or TWC
executive.

                  (f) Each of Group 4 Falck and WCC shall be free and unimpeded
by this Agreement to compete in all of their existing lines of business anywhere
in the world (except as provided in Section 1(g) below). WCC executives shall be
responsible for the negotiation of all WCC financing arrangements, subject to
the final approval of the WCC Board of Directors.

                  (g) Neither Group 4 Falck nor TWC shall engage in the business
of managing or operating prison, detention facility or mental health facility
management business anywhere in the United States, provided the foregoing shall
not apply to any consulting business of Group 4 Falck or TWC.

                  (h) Group 4 Falck / TWC Directors shall not have access to any
WCC bids, pricing or contract information in any line of business in which Group
4 Falck or TWC competes with WCC. Group 4 Falck Directors shall recuse
themselves from any consideration or approval by the WCC Board of Directors of
any non-United States proposal for services by WCC or any WCC subsidiary or
joint venture that would be competitive with any business of Group 4 Falck.

                  (i) In the event that any governmental antitrust, fair trade
or similar authority requires divestiture of any assets or business lines as a
condition of approving the Acquisition and gives Group 4 Falck and WCC

                                       2
<PAGE>

discretion as to which assets to divest, Group 4 Falck and WCC shall mutually
cooperate to determine what divestiture is in their mutual best interests. In
the event any such authority requires a specific divestiture without giving such
discretion, the parties agree to comply with such specific divestiture.

         2. CONFIDENTIALITY. Group 4 Falck agrees that prior to serving as a
member of the WCC Board of Directors, Group 4 Falck Directors shall first be
required to sign a confidentiality agreement that prohibits each Group 4 Falck
Director from divulging or sharing any WCC bidding, financial or contractual
information, or any other proprietary or competitively sensitive information,
that in each case pertains to any proposal or project in any non-United States
territories where Group 4 Falck is or may reasonably be expected to become a
competitor relating to WCC's existing business lines.

         3. REGISTRATION RIGHTS.

                  (a) WCC agrees to grant Group 4 Falck demand registration
rights on not less than three occasions, one of which shall become exercisable
every six months over the 18-month period following the consummation of the
Acquisition, such that all of the shares of WCC held directly or indirectly by
Group 4 Falck following the consummation of the Acquisition would be registered
under all applicable securities laws for sale by Group 4 Falck.

                  (b) Group 4 Falck shall be entitled to "piggyback"
registration rights on all registrations of WCC or on any demand registrations
of any other shareholders of WCC subject to the right, however, of WCC and its
underwriters to reduce the number of shares proposed to be registered pro rata
in view of market conditions.

                  (c) Group 4 Falck shall be entitled to unlimited demand
registrations on Form S-3 (if available to WCC) commencing on the 18-month
anniversary date of the consummation of the Acquisition.

                  (d) WCC shall bear all registration expenses (exclusive of
underwriting discounts and commissions) of all such piggyback and S-3
registrations (including the expense of one special counsel of Group 4 Falck).
Group 4 Falck shall bear such expenses for demand registrations. These
registration rights will be further documented in a registration rights
agreement reasonably acceptable to Group 4 Falck and WCC.

         4. CONTROL SHARE ACQUISITION STATUTE. WCC hereby confirms that it has
taken any and all actions, including without limitation the approval by the
Board of Directors of WCC, necessary or appropriate in order to opt out of or
otherwise render the Florida Control Share Acquisition Statute, Fla. Stat.
ss.607.0902, inapplicable to the direct or indirect acquisition by Group 4 Falck
of the shares of WCC held directly or indirectly by TWC immediately prior to the
consummation of the Acquisition and otherwise cause such acquisition not to
constitute a "control share acquisition" under such statute. A copy of the duly
adopted resolutions of the Board of Directors of WCC implementing the provisions
of this Section 4 and approving the other provisions of this Agreement are
attached hereto as EXHIBIT B.

                                       3
<PAGE>

         5. WCC REPRESENTATIONS AND WARRANTIES AND COVENANTS. WCC makes the
following representations and warranties and covenants to Group 4 Falck:

                  (a) WCC has filed all registration statements, forms, reports
and other documents (collectively, the "SEC Reports") required to be filed by
WCC with the SEC since January 1, 1998. The WCC SEC Reports (i) have been filed
on a timely basis, (ii) have been prepared in compliance in all material
respects with the applicable requirements of the Securities Act and the Exchange
Act, as the case may be, and the rules and regulations of the SEC thereunder
applicable to such SEC Reports; and (iii) did not at the time they were filed
contain any untrue statement of a material fact or omit to state a material fact
required to be stated in such SEC Reports or necessary in order to make the
statements in such SEC Reports, in the light of the circumstances under which
they were made, not misleading.

                  (b) Each of the consolidated financial statements (including,
in each case, any related notes and schedules) contained or to be contained in
the WCC SEC Reports at the time filed (the "WCC Consolidated Financial
Statements") (i) complied or will comply as to form in all material respects
with applicable accounting requirements and the published rules and regulations
of the SEC with respect thereto, (ii) were or will be prepared in accordance
with GAAP applied on a consistent basis through the periods involved (except as
may be indicated in the notes to such financial statements or, in the case of
unaudited statements, as permitted by the SEC on Form 10-Q under the Exchange
Act) and (ii) fairly presented or will fairly present in accordance with GAAP
the consolidated financial position of WCC and its subsidiaries as of the dates
thereof and the consolidated results of its operations and cash flows for the
periods indicated, consistent with the books and records of WCC and its
subsidiaries, except that the unaudited interim financial statements were or are
subject to normal year-end adjustments which were not or will not be material in
amount.

                  (c) Intentionally omitted.

                  (d) WCC agrees to use its best efforts to secure the
resolution of all issues and required waivers arising from or relating to any
non-competition provisions, any pre-emptive rights provisions and any change of
control provisions that could restrict the ability of Group 4 Falck or any of
its affiliates or subsidiaries to conduct business in Australia or South Africa
and, upon request by Group 4 Falck, to assist in any negotiations with respect
to such matters.

         6. ACQUISITION COVENANTS. WCC covenants to Group 4 Falck as set forth
on EXHIBIT C attached hereto. An officer of WCC or a disinterested member of the
Board of directors of WCC shall deliver a certificate to Group 4 Falck as of the
date of the consummation of the Acquisition certifying the foregoing.

         7. MUTUAL REPRESENTATIONS AND WARRANTIES. Each of WCC, Group 4 Falck
and TWC represents and warrants to the other parties to this Agreement as
follows: (i) there is nothing in any agreement such party has entered into that
in any way will limit its ability to perform all of the obligations undertaken
by it under this Agreement; (ii) such party is not a party to any agreement,
understanding or arrangement, direct or indirect, which conflicts with any

                                       4
<PAGE>

provision of this Agreement; and (iii) such party has duly authorized, executed
and delivered this Agreement and (assuming the due authorization, execution and
delivery of this Agreement by the other parties hereto) this Agreement
constitutes a valid and binding obligation of such party.

         8. TRANSACTION COSTS. Group 4 Falck and TWC agree that all reasonable
costs incurred by WCC arising from or related to the Acquisition, including but
not limited to legal fees incurred by WCC, and fees paid for legal and
investment banking advice by the committee of independent directors appointed by
the Board of Directors of WCC to consider the approval of the Acquisition, shall
be deemed acquisition transaction costs ("WCC Costs") and paid as follows: (i)
if the Acquisition is consummated, by Group 4 Falck and TWC upon consummation of
the Acquisition and (ii) if the Merger Agreement is terminated or the
Acquisition if otherwise abandoned, by TWC upon such termination or abandonment;
provided, however, that in no event shall the amount of WCC Costs exceed an
aggregate amount of $700,000. This Section 8 shall be enforceable whether or not
the Acquisition is consummated.

         9. SUBSEQUENT WCC SHARE ACQUISITIONS. Group 4 Falck and TWC agree that
neither company, directly or indirectly, on its own or through any subsidiary
entity or person, or successor in interest, will after the Acquisition purchase
or otherwise acquire any additional shares of WCC stock beyond those acquired as
a result of the Acquisition except at a price then established and approved by a
majority of the Independent Directors, unless otherwise agreed to and approved
by a majority of the Independent Directors.

         10. EMPLOYMENT AGREEMENTS. Group 4 Falck acknowledges that WCC has
entered into new Executive Employment and Retirement Agreements for George C.
Zoley, Wayne H. Calabrese, and John G. O'Rourke, which will be effective upon
consummation of the Acquisition.

         11. RIGHT TO INJUNCTION. In the event any party to this Agreement
breaches any provision contained in this Agreement, each of the parties
acknowledge that a remedy at law for damages will be inadequate and that the
parties seeking to enforce this Agreement will be entitled to an injunction to
prevent prospective or continuing breaches hereof.

         12. TERM. The provisions of this Agreement shall survive until the
earlier of the three-year anniversary of the date of the consummation of the
Acquisition, except Sections 1(c) through 1(h) and 2 hereof which shall survive
until such time as Group 4 Falck, directly or indirectly, owns less than 49% of
the outstanding shares of common stock of WCC.

         13. GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of Florida.

         14. SEVERABILITY. The invalidity of any one or more clauses or sections
contained in this Agreement shall not affect the enforceability of the remaining
portions of this Agreement or any part thereof, all of which are inserted
conditionally on their being valid in law and, in the event that any one or more
of the clause or sections contained in this Agreement shall be declared invalid,
this Agreement shall be construed as if such invalid clauses or sections had not
been inserted.

                                       5
<PAGE>

         15. WAIVERS. The waiver by a party hereto of a breach or violation of
any term or provision of this Agreement shall not operate nor be construed as a
waiver of any subsequent breach or violation.

         16. ENTIRE AGREEMENT. Except for the Confidentiality Agreement dated
January 23, 2002 and that certain letter agreement dated January 30, 2002, this
Agreement represents the entire understanding and agreement among the parties
with respect to the subject matter hereof, and supersedes all other agreements,
negotiations, understandings and representations between such parties with
respect to the subject matter hereof.

         17. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, all of which shall be considered one and the same agreement and
shall become effective when two or more counterparts have been signed by each of
the parties and delivered to the other parties, it being understood that all
parties need not sign the same counterpart.

                            (Signature Page Follows)

                                       6
<PAGE>

         IN WITNESS WHEREOF, the undersigned have executed this Agreement as of
the date first above written.

                                             GROUP 4 FALCK A/S

                                             By  /s/ Lars Norby Johansen
                                                ------------------------------
                                             Name: Lars Norby Johansen
                                             Title: President & Chief Executive
                                                    Officer

                                             By: /s/ Derrick Miller
                                                ------------------------------
                                             Name: Derrick Miller
                                             Title: Chief Financial Officer

                                             WACKENHUT CORRECTIONS CORPORATION

                                             By /s/ George Zoley
                                                ------------------------------
                                             Name: George Zoley
                                             Title: Chief Executive Officer

                                             THE WACKENHUT CORPORATION

                                             By /s/ Richard R. Wackenhut
                                                ------------------------------
                                             Name: Richard R. Wackenhut
                                             Title: President and Chief
                                                    Executive Officer

                                       7
<PAGE>

                                    EXHIBIT A

                      MEMBERS OF THE WCC BOARD OF DIRECTORS

I        GROUP 4 FALCK DIRECTORS

         o  Lars Norby Johanssen

         o  Soren Lundsberg-Nielsen

II       WCC DIRECTORS

         o  George C. Zoley

         o  Wayne H. Calabrese

III      INDEPENDENT DIRECTORS

         o  Richard H. Glanton

         o  Benjamin R. Civiletti

         o  Norman A. Carlson

         o  Fourth Member to be nominated

         o  Fifth Member to be nominated

<PAGE>

                                    EXHIBIT B

                            BOARD RESOLUTIONS OF WCC

         WHEREAS, The Wackenhut Corporation, a Florida corporation ("TWC"),
which owns approximately 57% of the outstanding shares of Common Stock, par
value $0.01 per share (the "Majority Interest"), of Wackenhut Corrections
Corporation (the "Corporation"), has been in negotiations to enter into an
Agreement and Plan of Merger, substantially in the form of EXHIBIT A hereto (the
"Merger Agreement"), with Group 4 Falck A/S ("Group 4 Falck"), pursuant to which
TWC will be merged with a subsidiary of Group 4 Falck and become a wholly-owned
subsidiary of Group 4 Falck, and Group 4 Falck will indirectly become the
beneficial owner of the Majority Interest (the "Proposed Merger");

         WHEREAS, for purposes of meeting the requirements of the Florida
Control Share Act as set forth in Section 607.0902(d)(7) of the Florida Business
Corporations Act (the "FBCA"), the Merger Agreement requires, as a condition to
the consummation of the Proposed Merger, the approval of the Proposed Merger by
a majority of the members of the Board of Directors that are deemed
disinterested with respect to the Proposed Merger for purposes of the laws of
the State of Florida (the "Disinterested Members");

         WHEREAS, on January 31, 2002, the Board of Directors of the Corporation
(the "Board of Directors") created a Special Independent Committee of the
Disinterested Members of the Board of Directors, consisting of Norman Carlson
and Richard Glanton (the "Special Independent Committee"), pursuant to Section
607.0825 of the FBCA, authorizing, empowering and directing the Special
Independent Committee, for and on behalf of the Corporation, to evaluate the
Proposed Merger, to consider any and all information in connection with the
Proposed Merger that the Special Independent Committee in its judgment deemed
appropriate and to make a recommendation to the Board of Directors as to whether
the Proposed Merger is in the best interests of the Corporation and its minority
shareholders; and

         WHEREAS, the Special Independent Committee has negotiated the Agreement
presented to the Board of Directors (the "WCC Agreement") by and among the
Corporation, TWC and Group 4 Falck in order to safeguard certain interests of
the public shareholders in the event the Proposed Merger is consummated; and

         WHEREAS, on the condition that the WCC Agreement is duly entered into,
the Special Independent Committee has unanimously recommended that the Board of
Directors approve the Proposed Merger and delivered to the Board of Directors a
copy of such recommendation, attached hereto as EXHIBIT A (the
"Recommendation");

         NOW, THEREFORE, BE IT RESOLVED, that the WCC Agreement is hereby
approved and any and each of the Corporation's officers at the level of Senior
Vice President or above be, and each hereby is, authorized and empowered to
execute and deliver the WCC Agreement on behalf of the Corporation with such

<PAGE>

further changes as the Special Independent Committee may determine to be in the
best interests of the public shareholders of the Corporation, provided that such
approval shall be effective only upon due execution and delivery of the WCC
Agreement by the parties hereto; and it is

         FURTHER RESOLVED, that, based upon the Recommendation of the Special
Independent Committee, the Board of Directors does hereby approve the Proposed
Merger for the purposes of Section 607.0902(d)(7) of the FBCA; and it is

         FURTHER RESOLVED, that any and each of the Corporation's officers at
the level of Senior Vice President or above be, and they hereby are, authorized
and empowered in the name of the Corporation to take or cause to be taken any
and all further actions necessary in order to implement the foregoing
resolution.

<PAGE>

                                    EXHIBIT C

                              ACQUISITION COVENANTS

1. COVENANTS REGARDING CONDUCT OF BUSINESS. Except as otherwise first approved
in writing by Group 4 Falck, which approval shall not be unreasonably withheld
or delayed, from the date hereof until the consummation of the Acquisition or
until Group 4 Falck and TWC have agreed in writing to terminate the Acquisition,
WCC covenants the following:

         (a) CONDUCT BUSINESS IN ORDINARY COURSE. WCC shall and shall cause each
of its subsidiaries to (i) conduct its and their business only in the ordinary
course, consistent with past practice and in compliance in all material respects
with all applicable laws; and (ii) use commercially reasonable efforts to
preserve intact their respective business organizations. WCC shall use its
commercially reasonable efforts to, and will use its commercially reasonable
efforts to cause its subsidiaries to, keep available, in all material respects,
the services of the present officers, employees and consultants of WCC and its
subsidiaries and to preserve the present relationships of WCC and its
subsidiaries with their respective customers, suppliers and other persons with
which WCC or its subsidiaries has significant business relations.

         (b) NO CHANGE IN CHARTER OR BYLAWS. WCC shall not, and shall cause its
subsidiaries not to, change or otherwise amend its articles of incorporation,
bylaws or other organizational documents, as applicable, or cause the articles
of incorporation, bylaws or other organizational documents of any of its
subsidiaries to be changed or amended.

         (c) NO CHANGE IN CAPITALIZATION. No change will be made (by
reclassification, subdivision, reorganization or otherwise) in the authorized or
issued capital stock or other securities of WCC (other than pursuant to the
exercise of stock options), and no options, warrants or rights to acquire, or
securities convertible into or exchangeable for, any shares of capital stock or
other securities of any of WCC or any of its subsidiaries shall be issued or
granted (other than stock option grants in the ordinary course of business
consistent with past practice) and no alteration, acceleration of vesting or
other change in the terms of any stock option outstanding on the date of this
Agreement will be made.

2. ACCESS TO PROPERTIES, FILES, ETC. WCC shall and shall cause each of its
subsidiaries to, at any time from the date hereof until the consummation of the
Acquisition or until Group 4 Falck and TWC have agreed in writing to terminate
the Acquisition, give or cause to be given to Group 4 Falck, its officers,
employees, agents, representatives, consultants, accountants, public accountants
and general or special counsel reasonable access during normal business hours to
WCC's and its subsidiaries' properties, accounts, books, minute books, deeds,

<PAGE>

title papers, independent accountant's working papers, insurance policies,
licenses, agreements, contracts, commitments, tax returns (including without
limitation revenue agents' reports and conference reports for the six years
ended with the calendar year 2001), records and files of every character,
equipment, machinery, fixtures, furniture, vehicles, notes and accounts payable
and receivable, and data processing programs and shall provide to Group 4 Falck
all such other information concerning the affairs of WCC as Group 4 Falck may
reasonably request, including without limitation promptly upon their becoming
available, one copy of each financial statement, report, notice or proxy
statement sent by WCC or any of its subsidiaries to their shareholders
generally, and of each regular or periodic report and any periodic statement or
written communication (all such material being collectively referred to as "WCC
Reports"), in respect of WCC Reports filed by WCC or any subsidiary with, or
received by any of them in connection with, WCC Reports from any securities
commission or department and, in any event, including sufficient access in order
for Group 4 Falck and its representatives to properly review WCC's operations;
PROVIDED, HOWEVER, that WCC shall have no obligation to provide any such access
or information (i) which WCC is prevented from disclosing by applicable law or
agreements, (ii) which WCC deems confidential or proprietary or (iii) with
respect to any area of its business in which it competes with Group 4 Falck.

3. NOTIFICATION OF CERTAIN MATTERS. WCC will give prompt notice, as soon as
reasonably practicable, to Group 4 Falck of the occurrence or nonoccurrence of
any event, circumstance or condition (i) which has had or is reasonably likely
to have a material adverse effect on WCC, (ii) which has caused any
representation or warranty of WCC contained in this Agreement to be untrue or
inaccurate in any material respect or (iii) which has caused any failure of WCC
to comply in all material respects with or satisfy in all material respects any
covenant, condition or agreement to be complied with or satisfied by it under
this Agreement.

4. CONSENTS. WCC will use its best efforts to obtain all material consents from
all third parties required in connection with the consummation of the
Acquisition, including without limitation under all of WCC's existing debt
facilities and WCC's existing synthetic lease or which are as a result of
financing arrangements being put in place as a result of the Acquisition.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00034-of-00352.parquet"}]]