Document:

The following form of Amendment to Stock Option Agreements was entered into with
the following executive officers and directors as follows:

<TABLE>
<CAPTION>

Name                                Price Per Share
----                                ---------------

<S>                                 <C>
Frederick A. Moran                  $0.20625

Clayton F. Moran                    $0.1875

Edwin B. Read                       $0.1875

Dr. Hussein Elkholy                 $0.1875

James B. Dittman                    $0.1875

Dr. Leonard Hausman                 $0.1875

</TABLE>

                  FORM OF AMENDMENT TO STOCK OPTION AGREEMENTS
                       UNDER THE VDC COMMUNICATIONS, INC.
                      1998 STOCK INCENTIVE PLAN, AS AMENDED

                  This Amendment (the  "Amendment") is made  as  of  October 16,
2000, (the "Amendment Date") by and between VDC Communications, Inc., a Delaware
corporation (the "Corporation") and Frederick A. Moran (the "Optionee").

                  WHEREAS,  the parties  have  entered  into  option  agreements
representing stock options granted to the Optionee under the VDC Communications,
Inc. 1998 Stock Incentive Plan, as amended from time to time (the "Plan"); and

                  WHEREAS,  the parties  wish to amend  certain of these  option
agreements.

                  NOW,  THEREFORE,  the parties hereto,  intending to be legally
bound, and for good and valuable  consideration,  the receipt and sufficiency of
which are hereby acknowledged, hereby agree as follows:

                  1.       The per share exercise price set forth in Corporation
stock  option  agreements         (collectively  the  "Amended  Agreements")  is
                          -------
hereby amended to be $           .
                      -----------

                  2.       Except as otherwise set forth herein,  the  terms  of
the Amended Agreements shall remain in full force and effect.

                  3.       This  Amendment  may  be  executed  in  two  or  more
counterparts and delivered via facsimile, each of which shall be deemed to be an
original,  and all of  which  together  shall be  deemed  to be one and the same
instrument.

                                   Page 1 of 2
<PAGE>

         IN WITNESS  WHEREOF,  the parties have signed this  Amendment as of the
date first written above.

                                          CORPORATION:

                                          VDC COMMUNICATIONS, INC.

                                          By:
                                             -----------------------------------
                                                Frederick A. Moran
                                                Chief Executive Officer

                                          OPTIONEE:

                                          --------------------------------------

                                  Page 2 of 22000-OP41

                                                              Frederick A. Moran
                                                              Optionee

                            VDC COMMUNICATIONS, INC.
                            ------------------------

                        INCENTIVE STOCK OPTION AGREEMENT
                       UNDER THE VDC COMMUNICATIONS, INC.
                      1998 STOCK INCENTIVE PLAN, AS AMENDED

                  This  Agreement  is  made  as of October 16, 2000, (the "Grant
Date") by and between VDC  Communications,  Inc.,  a Delaware  corporation  (the
"Corporation") and Frederick A. Moran (the "Optionee").

                  WHEREAS,  Optionee is an employee of the Corporation or one of
its  subsidiaries  and the  Corporation  considers it desirable  and in its best
interest that Optionee be given an inducement to acquire a proprietary  interest
in the  Corporation and an incentive to advance the interests of the Corporation
by granting  the  Optionee an option to purchase  shares of common  stock of the
Corporation (the "Common Stock");

                  NOW,  THEREFORE,  the parties hereto,  intending to be legally
bound,  hereby agree that as of the Grant Date,  the  Corporation  hereby grants
Optionee an option to purchase from it, upon the terms and  conditions set forth
in the VDC Communications,  Inc. 1998 Stock Incentive Plan, as amended from time
to time,  (the "Plan") (a copy of which is attached  hereto) and this Agreement,
that  number  of shares  of the  authorized  and  unissued  Common  Stock of the
Corporation as is set forth on Schedule A hereto.

                  1.       Terms of Stock Option.  The option to purchase Common
                           ---------------------
Stock  granted  herein is subject to the terms,  conditions,  and  covenants set
forth in the Plan as well as the following:

                           (a)      This option  shall  constitute  an Incentive
                                    Stock  Option  which is  intended to qualify
                                    under  Section 422 of the  Internal  Revenue
                                    Code of 1986, as amended;

                           (b)      The per share  exercise price for the shares
                                    subject to this option  shall be 110% of the
                                    Fair  Market  Value (as defined in the Plan)
                                    of the Common Stock on the Grant Date, which
                                    exercise  price is set forth on  Schedule  A
                                    hereto;

                                       1
<PAGE>

                           (c)      This option  shall vest in  accordance  with
                                    the vesting schedule set forth on Schedule A
                                    hereto;  and

                           (d)      No portion of this  option may be  exercised
                                    more  than  five (5)  years  from the  Grant
                                    Date.

                  2.       Payment  of  Exercise  Price.   The  option   may  be
                           ----------------------------
exercised,  in part or in whole,  only by  written  request  to the  Corporation
accompanied by payment of the exercise price in full either: (i) in cash for the
shares  with  respect  to  which  it is  exercised;  (ii) by  delivering  to the
Corporation   a  notice  of  exercise  with  an   irrevocable   direction  to  a
broker-dealer  registered under the Securities Exchange Act of 1934, as amended,
to sell a  sufficient  portion  of the  shares  and  deliver  the sale  proceeds
directly to the Corporation to pay the exercise  price;  (iii) in the discretion
of  the  Plan  Administrator,   through  the  delivery  to  the  Corporation  of
previously-owned  shares of Common Stock  having an aggregate  Fair Market Value
equal to the option exercise price of the shares being purchased pursuant to the
exercise of the Option; provided, however, that shares of Common Stock delivered
in payment of the option  price must have been held by the Optionee for at least
six (6)  months in order to be  utilized  to pay the option  price;  (iv) in the
discretion  of the Plan  Administrator,  through an  election  to have shares of
Common Stock  otherwise  issuable to the  Optionee  withheld to pay the exercise
price  of such  Option;  or (v) in the  discretion  of the  Plan  Administrator,
through any combination of the payment procedures set forth in Subsections (i) -
(iv) of this paragraph.

                  3.       Miscellaneous.
                           -------------

                           (a)      This  Agreement and the options  represented
                                    hereby may not be assigned or transferred in
                                    any manner  except by will or by the laws of
                                    descent  and  distribution  or pursuant to a
                                    domestic relations order.

                           (b)      This   Agreement   will  be   governed   and
                                    interpreted  in accordance  with the laws of
                                    the State of Connecticut and federal law (to
                                    the extent it preempts the laws of the State
                                    of Connecticut), and may be executed in more
                                    than one  counterpart,  each of which  shall
                                    constitute an original document.

                           (c)      Other than  alterations  to,  amendments to,
                                    suspensions of, or  discontinuations  of the
                                    Plan,   as   permitted   by  the  Plan,   no
                                    alterations,    amendments,    changes    or
                                    additions to this  Agreement will be binding
                                    upon  either  the  Corporation  or  Optionee
                                    unless reduced to writing and signed by both
                                    parties.

                                       2
<PAGE>

                           (d)      All  controversies  or claims arising out of
                                    this   Agreement   shall  be  determined  by
                                    binding   arbitration,   conducted   at  the
                                    Corporation's    offices    in    Greenwich,
                                    Connecticut,   or  at  such  other  location
                                    designated  by the  Corporation,  before the
                                    American Arbitration Association.

                           (e)      No    rule   of    construction    requiring
                                    interpretation  against the  drafting  party
                                    shall  apply to the  interpretation  of this
                                    Agreement.

                           (f)      If any  provision of this  Agreement is held
                                    to  be  invalid,  the  remaining  provisions
                                    shall remain in full force and effect.

                           (g)      The   Corporation    does   not   make   any
                                    representations or warranties  regarding the
                                    current  or  future   value  of  the  shares
                                    underlying the option.

                  In witness  whereof,  the parties have executed this Agreement
as of the Grant Date.

                                             VDC COMMUNICATIONS, INC.

                                             By:/s/ Frederick A. Moran
                                                --------------------------------
                                                    Frederick A. Moran
                                                    Chief Executive Officer

                                             OPTIONEE

                                             /s/ Frederick A. Moran
                                             -----------------------------------
                                                 Frederick A. Moran

                                       3
<PAGE>

                                                              Frederick A. Moran
                                                              Optionee

                                   Schedule A

1.  Grant Date:  October 16, 2000

2.  Number of Shares of Common Stock covered by the Option:  75,000

3.  Exercise  Price  (110%  of  Fair Market Value  of  Common Stock on the Grant
    Date):   $.20625

4.  The Option shall vest in accordance with the following schedule:

         (i)      15,000 shares shall vest on the first anniversary of the Grant
                  Date, provided Optionee remains  continuously  employed by the
                  Corporation  or any of its  Subsidiaries  (as  defined  in the
                  Plan) from October 16, 2000 through October 15, 2001;

         (ii)     15,000  shares  shall  vest on the second  anniversary  of the
                  Grant Date, provided Optionee remains continuously employed by
                  the Corporation or any of its  Subsidiaries (as defined in the
                  Plan) from October 16, 2000 through October 15, 2002;

         (iii)    15,000 shares shall vest on the third anniversary of the Grant
                  Date, provided Optionee remains  continuously  employed by the
                  Corporation  or any of its  Subsidiaries  (as  defined  in the
                  Plan) from October 16, 2000 through October 15, 2003;

         (iv)     15,000  shares  shall  vest on the fourth  anniversary  of the
                  Grant Date, provided Optionee remains continuously employed by
                  the Corporation or any of its  Subsidiaries (as defined in the
                  Plan) from October 16, 2000 through October 15, 2004; and

         (v)      15,000 shares shall vest on the fifth anniversary of the Grant
                  Date, provided Optionee remains  continuously  employed by the
                  Corporation  or any of its  Subsidiaries  (as  defined  in the
                  Plan) from October 16, 2000 through October 15, 2005.

                                       4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00017-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00017-of-00352.parquet"}]]