Document:

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                                                                    Exhibit 4(x)

                          REGISTRATION RIGHTS AGREEMENT

                                     between

                              WELLS FARGO & COMPANY

                                   as Issuer,

                                       and

                      MERRILL LYNCH, PIERCE, FENNER & SMITH

                                  INCORPORATED,

                        MORGAN STANLEY & CO. INCORPORATED

                                       and

                              GOLDMAN, SACHS & CO.

                      as Managers of the Initial Purchasers

                           Dated as of April 15, 2003

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        REGISTRATION RIGHTS AGREEMENT dated as of April 15, 2003 among Wells
Fargo & Company, a Delaware corporation (the "Company"), Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Morgan Stanley & Co. Incorporated and Goldman,
Sachs & Co. (the "Managers"), as managers of the several initial purchasers (the
"Initial Purchasers") named in the Purchase Agreement dated April 9, 2003 (the
"Purchase Agreement"), between the Company and the Initial Purchasers. In order
to induce the Initial Purchasers to enter into the Purchase Agreement, the
Company has agreed to provide the registration rights set forth in this
Agreement. The execution of this Agreement is a condition to the closing under
the Purchase Agreement.

        The Company agrees with the Initial Purchasers, (i) for their benefit as
Initial Purchasers and (ii) for the benefit of the beneficial owners (including
the Initial Purchasers) from time to time of the Notes (as defined herein) and
the beneficial owners from time to time of the Underlying Common Stock (as
defined herein) issued upon conversion of the Notes (each of the foregoing a
"Holder" and together the "Holders"), as follows:

        Section 1. Definitions. Capitalized terms used herein without definition
shall have their respective meanings set forth in the Purchase Agreement. As
used in this Agreement, the following terms shall have the following meanings:

        "Affiliate" means with respect to any specified person, an "affiliate,"
as defined in Rule 144, of such person.

        "Amendment Effectiveness Deadline Date" has the meaning set forth in
Section 2(d) hereof.

        "Business Day" means each Monday, Tuesday, Wednesday, Thursday and
Friday that is not a day on which banking institutions in The City of New York
are authorized or obligated by law or executive order to close.

        "Common Stock" means the shares of common stock, par value $1-2/3 per
share, of the Company including the Underlying Common Stock.

        "Conversion Rate" has the meaning assigned such term in the Indenture.

        "Damages Accrual Period" has the meaning set forth in Section 2(e)
hereof.

        "Damages Payment Date" means each February 1, May 1, August 1 and
November 1.

        "Deferral Notice" has the meaning set forth in Section 3(h) hereof.

        "Deferral Period" has the meaning set forth in Section 3(h) hereof.

        "Effectiveness Deadline Date" has the meaning set forth in Section 2(a)
hereof.

        "Effectiveness Period" means the period commencing on the date the
Initial Shelf Registration Statement is declared effective and ending on the
date that all Registrable Securities have ceased to be Registrable Securities.

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        "Event" has the meaning set forth in Section 2(e) hereof.

        "Exchange Act" means the Securities Exchange Act of 1934, as amended,
and the rules and regulations of the SEC promulgated thereunder.

        "Filing Deadline Date" has the meaning set forth in Section 2(a) hereof.

        "Holder" has the meaning set forth in the second paragraph of this
Agreement.

        "Indenture" means the Indenture, dated as of April 15, 2003, between the
Company and Citibank, N.A, as trustee, pursuant to which the Notes are being
issued.

        "Initial Purchasers" has the meaning set forth in the preamble to this
Agreement.

        "Initial Shelf Registration Statement" has the meaning set forth in
Section 2(a) hereof.

        "Issue Date" means April 15, 2003.

        "Liquidated Damages Amount" has the meaning set forth in Section 2(e)
hereof.

        "Managers" has the meaning set forth in the preamble to this Agreement.

        "Material Event" has the meaning set forth in Section 3(h) hereof.

        "Notes" means the Floating Rate Convertible Senior Debentures Due 2033
of the Company to be purchased pursuant to the Purchase Agreement.

        "Notice and Questionnaire" means a completed and signed written notice
delivered to the Company containing substantially the information called for by
the Selling Securityholder Notice and Questionnaire attached as Annex A to the
Offering Memorandum of the Company dated April 9, 2003 relating to the Notes.

        "Notice Holder" means, on any date, any Holder that has delivered a
completed and signed Notice and Questionnaire to the Company on or prior to such
date.

        "Purchase Agreement" has the meaning set forth in the preamble hereof.

        "Prospectus" means the prospectus included in any Registration Statement
(including, without limitation, a prospectus that discloses information
previously omitted from a prospectus filed as part of an effective registration
statement in reliance upon Rule 430A promulgated under the Securities Act), as
amended or supplemented by any amendment or prospectus supplement, including
post-effective amendments, and all materials incorporated by reference in such
Prospectus.

        "Record Holder" means with respect to any Damages Payment Date relating
to any Notes or Underlying Common Stock as to which any Liquidated Damages
Amount has accrued, the registered holder of such Note or Underlying Common
Stock on the January 15, April 15, July 15 or October 15, as the case may be,
immediately preceding the relevant Damages Payment Date.

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        "Registrable Securities" means the Notes until such Notes have been
converted into or exchanged for the Underlying Common Stock and, at all times
subsequent to any such conversion, the Underlying Common Stock and any
securities into or for which such Underlying Common Stock has been converted or
exchanged, and any security issued with respect thereto upon any stock dividend,
split or similar event until, in the case of any such security, (A) the earliest
of (i) its effective registration under the Securities Act and resale in
accordance with the Registration Statement covering it, (ii) expiration of the
holding period that would be applicable thereto under Rule 144(k) (without
regard to any affiliate status of the Holder of such security) or (iii) its sale
pursuant to Rule 144 (or any similar provision then in force, but not Rule 144A)
under the Securities Act, and (B) as a result of the event or circumstance
described in any of the foregoing clauses (i) through (iii), the legend with
respect to transfer restrictions required under the Indenture is removed or
removable in accordance with the terms of the Indenture or such legend, as the
case may be.

        "Registration Statement" means any registration statement of the Company
that covers any of the Registrable Securities pursuant to the provisions of this
Agreement, including the Prospectus, amendments and supplements to such
registration statement, including post-effective amendments, all exhibits and
all materials incorporated by reference or explicitly deemed to be incorporated
by reference in such registration statement.

        "Restricted Securities" means "Restricted Securities" as defined in Rule
144.

        "Rule 144" means Rule 144 under the Securities Act, as such Rule may be
amended from time to time, or any similar rule or regulation hereafter adopted
by the SEC.

        "Rule 144A" means Rule 144A under the Securities Act, as such Rule may
be amended from time to time, or any similar rule or regulation hereafter
adopted by the SEC.

        "SEC" means the Securities and Exchange Commission.

        "Securities Act" means the Securities Act of 1933, as amended, and the
rules and regulations promulgated by the SEC thereunder.

        "Shelf Registration Statement" has the meaning set forth in Section 2(a)
hereof.

        "Special Counsel" means Sidley Austin Brown & Wood LLP or one such other
successor counsel as shall be specified by the Holders of a majority of all
Registrable Securities, but which may, with the written consent of the Managers
(which shall not be unreasonably withheld), be another nationally recognized law
firm experienced in securities law matters designated by the Company, the
reasonable fees and expenses of which will be paid by the Company pursuant to
Section 5 hereof. Throughout this Agreement, for purposes of determining the
holders of a majority of Registrable Securities in this definition, Holders of
Notes shall be deemed to be the Holders of the number of shares of Underlying
Common Stock into which such Notes are or would be convertible as of the date
the consent is requested.

        "Subsequent Shelf Registration Statement" has the meaning set forth in
Section 2(b) hereof.

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        "TIA" means the Trust Indenture Act of 1939, as amended.

        "Trustee" means Citibank, N.A., the Trustee under the Indenture.

        "Underlying Common Stock" means the Common Stock into which the Notes
are convertible or issued upon conversion of the Notes.

        Section 2. Shelf Registration. (a) The Company shall prepare and file or
cause to be prepared and filed with the SEC, by the date (the "Filing Deadline
Date") one hundred twenty (120) days after the Issue Date, a Registration
Statement for an offering to be made on a delayed or continuous basis pursuant
to Rule 415 of the Securities Act (a "Shelf Registration Statement") registering
the resale from time to time by Holders thereof of all of the Registrable
Securities (the "Initial Shelf Registration Statement"). The Initial Shelf
Registration Statement shall be on Form S-3 or another appropriate form
permitting registration of such Registrable Securities for resale by such
Holders. The Company shall use its reasonable efforts to cause the Initial Shelf
Registration Statement to be declared effective under the Securities Act by the
date (the "Effectiveness Deadline Date") that is one hundred eighty (180) days
after the Issue Date, and to keep the Initial Shelf Registration Statement (or
any Subsequent Shelf Registration Statement) continuously effective under the
Securities Act until the expiration of the Effectiveness Period. At the time the
Initial Shelf Registration Statement is declared effective, each Holder that
became a Notice Holder on or prior to the date ten (10) Business Days prior to
such time of effectiveness shall be named as a selling securityholder in the
Initial Shelf Registration Statement and the related Prospectus in such a manner
as to permit such Holder to deliver such Prospectus to purchasers of Registrable
Securities in accordance with applicable law. None of the Company's security
holders (other than the Holders of Registrable Securities) shall have the right
to include any of the Company's securities in the Shelf Registration Statement.

        (a)     If the Initial Shelf Registration Statement or any Subsequent
Shelf Registration Statement ceases to be effective for any reason at any time
during the Effectiveness Period (other than because all Registrable Securities
registered thereunder shall have been resold pursuant thereto or shall have
otherwise ceased to be Registrable Securities), the Company shall use its
reasonable efforts to obtain the prompt withdrawal of any order suspending the
effectiveness thereof, and in any event shall within thirty (30) days of such
cessation of effectiveness amend the Shelf Registration Statement in a manner
reasonably expected to obtain the withdrawal of the order suspending the
effectiveness thereof, or file an additional Shelf Registration Statement
covering all of the securities that as of the date of such filing are
Registrable Securities (a "Subsequent Shelf Registration Statement"). If a
Subsequent Shelf Registration Statement is filed, the Company shall use its
reasonable efforts to cause the Subsequent Shelf Registration Statement to
become effective as promptly as is practicable after such filing and to keep
such Registration Statement (or subsequent Shelf Registration Statement)
continuously effective until the end of the Effectiveness Period.

        (b)     The Company shall supplement and amend the Shelf Registration
Statement if required by the rules, regulations or instructions applicable to
the registration form used by the Company for such Shelf Registration Statement,
if required by the Securities Act or as necessary to name a Notice Holder as a
selling securityholder pursuant to Section (d) below.

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        (c)     Each Holder agrees that if such Holder wishes to sell
Registrable Securities pursuant to a Shelf Registration Statement and related
Prospectus, it will do so only in accordance with this Section 2(d) and Section
3(h). Following the date that the Initial Shelf Registration Statement is
declared effective, each Holder wishing to sell Registrable Securities pursuant
to a Shelf Registration Statement and related Prospectus agrees to deliver a
Notice and Questionnaire to the Company. Each Holder who elects to sell
Registrable Securities pursuant to a Shelf Registration Statement agrees, by
submitting a Notice and Questionnaire to the Company, it will be bound by the
terms and conditions of the Notice and Questionnaire and this Agreement. From
and after the date the Initial Shelf Registration Statement is declared
effective, the Company shall before the later of (x) ten (10) Business Days
after such date or (y) fifteen (15) Business Days after the expiration of any
Deferral Period in effect when the Notice and Questionnaire is delivered or put
into effect within ten (10) Business Days of such delivery date:

                (i)     if required by applicable law, file with the SEC a
        post-effective amendment to the Shelf Registration Statement or prepare
        and, if required by applicable law, file a supplement to the related
        Prospectus or a supplement or amendment to any document incorporated
        therein by reference or file any other required document so that the
        Holder delivering such Notice and Questionnaire is named as a selling
        securityholder in the Shelf Registration Statement and the related
        Prospectus in such a manner as to permit such Holder to deliver such
        Prospectus to purchasers of the Registrable Securities in accordance
        with applicable law and, if the Company shall file a post-effective
        amendment to the Shelf Registration Statement, use its reasonable
        efforts to cause such post-effective amendment to be declared effective
        under the Securities Act by the date (the "Amendment Effectiveness
        Deadline Date") that is forty-five (45) days after the date such
        post-effective amendment is required by this clause to be filed;

                (ii)    provide such Holder copies of any documents filed
        pursuant to Section 2(d)(i), if requested; and

                (iii)   notify such Holder as promptly as practicable after the
        effectiveness under the Securities Act of any post-effective amendment
        filed pursuant to Section 2(d)(i);

provided, that if such Notice and Questionnaire is delivered during a Deferral
Period, the Company shall so inform the Holder delivering such Notice and
Questionnaire and shall take the actions set forth in clauses (i), (ii) and
(iii) above upon expiration of the Deferral Period in accordance with Section
3(h). Notwithstanding anything contained herein to the contrary, (i) the Company
shall be under no obligation to name any Holder that is not a Notice Holder as a
selling securityholder in any Registration Statement or related Prospectus and
(ii) the Amendment Effectiveness Deadline Date shall be extended by up to ten
(10) Business Days from the expiration of a Deferral Period (and the Company
shall incur no obligation to pay Liquidated Damages during such extension or
during such Deferral Period) if such Deferral Period shall be in effect on the
Amendment Effectiveness Deadline Date.

        (d)     The parties hereto agree that the Holders of Registrable
Securities will suffer damages, and that it would not be feasible to ascertain
the extent of such damages with precision, if, other than as permitted
hereunder,

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                (i)     the Initial Shelf Registration Statement has not been
        filed on or prior to the Filing Deadline Date,

                (ii)    the Initial Shelf Registration Statement has not been
        declared effective under the Securities Act on or prior to the
        Effectiveness Deadline Date,

                (iii)   the Company has failed to perform its obligations set
        forth in Section 2(d)(i) within the time period required therein,

                (iv)    any post-effective amendment to a Shelf Registration
        Statement filed pursuant to Section 2(d)(i) has not become effective
        under the Securities Act on or prior to the Amendment Effectiveness
        Deadline Date, or

                (v)     the aggregate duration of Deferral Periods in any period
        exceeds the number of days permitted in respect of such period pursuant
        to Section 3(h) hereof.

Each event described in any of the foregoing clauses (i) through (v) is
individually referred to herein as an "Event." For purposes of this Agreement,
each Event set forth above shall begin and end on the dates set forth in the
table set forth below:

<TABLE>
<CAPTION>
  Type of Event by Clause              Beginning Date                           Ending Date
---------------------------   ------------------------------------   ------------------------------------
          <S>                 <C>                                    <C>
          (i)                 Filing Deadline Date                   the date the Initial Shelf
                                                                     Registration Statement is filed

          (ii)                Effectiveness Deadline Date            the date the Initial Shelf
                                                                     Registration Statement becomes
                                                                     effective under the Securities Act

          (iii)               the date by which the Company is       the date the Company performs its
                              required to perform its obligations    obligations set forth in
                              under Section 2(d)(i)                  Section 2(d)(i)

          (iv)                the Amendment Effectiveness Deadline   the date the applicable
                              Date                                   post-effective amendment to a Shelf
                                                                     Registration Statement becomes
                                                                     effective under the Securities Act

          (v)                 the date on which the aggregate        termination of the Deferral Period
                              duration of Deferral Periods in any    that caused the limit on the
                              period exceeds the number of days      aggregate duration of Deferral
                              permitted by Section 3(h)              Periods to be exceeded
</TABLE>

For purposes of this Agreement, Events shall begin on the dates set forth in the
table above and shall continue until the ending dates set forth in the table
above.

        Commencing on (and including) any date that an Event has begun and
ending on (but excluding) the next date on which there are no Events that have
occurred and are continuing (a "Damages Accrual Period"), the Company shall pay,
as liquidated damages and not as a penalty, to Record Holders of Registrable
Securities an amount (the "Liquidated Damages Amount") accruing, for each day in
the Damages Accrual Period, (i) in respect of any Note, at a rate per annum
equal to 0.25% for the first 90-day period after the occurrence of an Event and
at a rate per annum equal to 0.50% thereafter of the aggregate principal amount
of the Notes outstanding and (ii) in respect of each share of Underlying Common
Stock at a rate per annum

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equal to 0.25% for the first 90-day period after the occurrence of an Event and
at a rate per annum equal to 0.50% thereafter of an amount equal to $1000
divided by the Conversion Rate in effect on the first day of any such period, as
the case may be; provided that in the case of a Damages Accrual Period that is
in effect solely as a result of an Event of the type described in clause (iii)
or (iv) of the preceding paragraph, such Liquidated Damages Amount shall be paid
only to the Holders (as set forth in the succeeding paragraph) that have
delivered Notices and Questionnaires that caused the Company to incur the
obligations set forth in Section 2(d) the non-performance of which is the basis
of such Event. In calculating the Liquidated Damages Amount on any date on which
no Notes are outstanding, the Conversion Rate and the Liquidated Damages Amount
payable with respect to shares of Common Stock which are Registrable Securities,
shall be calculated as if the Notes were still outstanding. Notwithstanding the
foregoing, no Liquidated Damages Amount shall accrue as to any Registrable
Security from and after the earlier of (x) the date such security is no longer a
Registrable Security and (y) expiration of the Effectiveness Period. The rate of
accrual of the Liquidated Damages Amount with respect to any period shall not
exceed the rate provided for in this paragraph notwithstanding the occurrence of
multiple concurrent Events.

        The Liquidated Damages Amount shall accrue from the first day of the
applicable Damages Accrual Period, and shall be payable in cash on each Damages
Payment Date during the Damage Accrual Period to the Record Holders of the
Registrable Securities on the record date immediately preceding the applicable
Damages Payment Date (and on the Damages Payment Date next succeeding the end of
the Damages Accrual Period if the Damage Accrual Period does not end on a
Damages Payment Date to the Record Holders of the Registrable Securities as of
the date that such Damages Accrual Period ends ); provided that any Liquidated
Damages Amount accrued with respect to any Note or portion thereof redeemed by
the Company on a redemption date prior to the Damages Payment Date shall be paid
instead on such redemption date to the Holder who submitted such Note or portion
thereof for redemption; provided further that, in the case of an Event of the
type described in clause (iii) or (iv) of the first paragraph of this Section
2(e), such Liquidated Damages Amount shall be paid only to the Holders entitled
thereto pursuant to such first paragraph by check mailed to the address set
forth in the Notice and Questionnaire delivered by such Holder. The parties
agree that the sole damages payable for a violation of the terms of this
Agreement with respect to which liquidated damages are expressly provided shall
be such liquidated damages. Nothing shall preclude any Holder from pursuing or
obtaining specific performance or other equitable relief with respect to this
Agreement.

        All of the Company's obligations set forth in this Section 2(e) that are
outstanding with respect to any Registrable Security at the time such security
ceases to be a Registrable Security shall survive until such time as all such
obligations with respect to such security have been satisfied in full
(notwithstanding termination of this Agreement pursuant to Section 9(j)).

        The parties hereto agree that the liquidated damages provided for in
this Section 2(e) constitute a reasonable estimate of the damages that may be
incurred by Holders of Registrable Securities by reason of the failure of the
Shelf Registration Statement to be filed or declared effective or available for
effecting resales of Registrable Securities in accordance with the provisions
hereof.

                                       7

<PAGE>

        Section 3. Registration Procedures. In connection with the registration
obligations of the Company under Section 2 hereof, during the Effectiveness
Period, the Company shall:

        (a)     Prepare and file with the SEC a Registration Statement or
Registration Statements on any appropriate form under the Securities Act
available for the sale of the Registrable Securities by the Holders thereof, and
use its reasonable efforts to cause each such Registration Statement to become
effective and remain effective as provided herein; provided that before filing
any Registration Statement or Prospectus or any amendments or supplements
thereto with the SEC (but excluding reports filed with the SEC under the
Exchange Act), furnish to the Initial Purchasers and the Special Counsel of such
offering, if any, copies of all such documents proposed to be filed at least two
(2) Business Days prior to the filing of such Registration Statement or
amendment thereto or Prospectus or supplement thereto.

        (b)     Subject to Section 3(h), prepare and file with the SEC such
amendments and post-effective amendments to each Registration Statement as may
be necessary to keep such Registration Statement continuously effective for the
applicable period specified in Section 2(a); cause the related Prospectus to be
supplemented by any required prospectus supplement, and as so supplemented to be
filed pursuant to Rule 424 (or any similar provisions then in force) under the
Securities Act; and use its reasonable efforts to comply with the provisions of
the Securities Act applicable to it with respect to the disposition of all
securities covered by such Registration Statement during the Effectiveness
Period.

        (c)     As promptly as practicable give notice to the Notice Holders,
the Initial Purchasers and the Special Counsel, if any, (i) when any Prospectus,
prospectus supplement, Registration Statement or post-effective amendment to a
Registration Statement has been filed with the SEC and, with respect to a
Registration Statement or any post-effective amendment, when the same has been
declared effective, (ii) of any request, following the effectiveness of the
Initial Shelf Registration Statement under the Securities Act, by the SEC or any
other federal or state governmental authority for amendments or supplements to
any Registration Statement or related Prospectus or for additional information
relating to the Shelf Registration Statement, (iii) of the issuance by the SEC
or any other federal or state governmental authority of any stop order
suspending the effectiveness of any Registration Statement or the initiation or
threatening of any proceedings for that purpose, (iv) of the receipt by the
Company of any notification with respect to the suspension of the qualification
or exemption from qualification of any of the Registrable Securities for sale in
any jurisdiction or the initiation or threatening of any proceeding for such
purpose, (v) of the occurrence of, but not the nature of or details concerning,
a Material Event and (vi) of the determination by the Company that a
post-effective amendment to a Registration Statement will be filed with the SEC,
which notice may, at the discretion of the Company (or as required pursuant to
Section 3(h)), state that it constitutes a Deferral Notice, in which event the
provisions of Section 3(h) shall apply.

        (d)     Use its reasonable efforts to obtain the withdrawal of any order
suspending the effectiveness of a Registration Statement or the lifting of any
suspension of the qualification (or exemption from qualification) of any of the
Registrable Securities

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<PAGE>

for sale in any jurisdiction in which they have been qualified for sale, in
either case at the earliest possible moment, and provide immediate notice to
each Notice Holder and the Initial Purchaser of the withdrawal of any such
order.

        (e)     As promptly as practicable furnish to each applicable Notice
Holder, the Special Counsel, if any, and the Initial Purchasers, upon request
and without charge, at least one (1) conformed copy of the Registration
Statement and any amendment thereto, including exhibits.

        (f)     Deliver to each applicable Notice Holder, the Special Counsel,
if any, and the Initial Purchaser, in connection with any sale of Registrable
Securities pursuant to a Registration Statement, without charge, as many copies
of the Prospectus or Prospectuses relating to such Registrable Securities
(including each preliminary prospectus) and any amendment or supplement thereto
as such Notice Holder may reasonably request; and the Company hereby consents
(except during such periods that a Deferral Notice is outstanding and has not
been revoked) to the use of such Prospectus or each amendment or supplement
thereto by each such Notice Holder in connection with any offering and sale of
the Registrable Securities covered by such Prospectus or any amendment or
supplement thereto in the manner set forth therein.

        (g)     Prior to any public offering of the Registrable Securities
pursuant to a Registration Statement, use its reasonable efforts to register or
qualify or cooperate with the Notice Holders and the Special Counsel in
connection with the registration or qualification (or exemption from such
registration or qualification) of such Registrable Securities for offer and sale
under the securities or Blue Sky laws of such jurisdictions within the United
States as any Notice Holder reasonably requests in writing (which request may be
included in the Notice and Questionnaire); prior to any public offering of the
Registrable Securities pursuant to the Shelf Registration Statement, use its
reasonable efforts to keep each such registration or qualification (or exemption
therefrom) effective during the Effectiveness Period in connection with such
Notice Holder's offer and sale of Registrable Securities pursuant to such
registration or qualification (or exemption therefrom) and do any and all other
acts or things reasonably necessary or advisable to enable the disposition in
such jurisdictions of such Registrable Securities in the manner set forth in the
relevant Registration Statement and the related Prospectus; provided that the
Company will not be required to (i) qualify as a foreign corporation or as a
dealer in securities in any jurisdiction where it would not otherwise be
required to qualify but for this Agreement or (ii) take any action that would
subject it to general service of process in suits or to taxation in any such
jurisdiction where it is not then so subject.

        (h)     Upon (A) the issuance by the SEC of a stop order suspending the
effectiveness of the Shelf Registration Statement or the initiation of
proceedings with respect to the Shelf Registration Statement under Section 8(d)
or 8(e) of the Securities Act, (B) the occurrence of any event or the existence
of any fact (a "Material Event") as a result of which any Registration Statement
shall contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements
therein not misleading, or any Prospectus shall contain any untrue statement of
a material fact or omit to state any material fact required to be stated therein

                                       9

<PAGE>

or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, or (C) the occurrence or existence
of any pending corporate development that, in the reasonable discretion of the
Company, makes it appropriate to suspend the availability of the Shelf
Registration Statement and the related Prospectus:

                (i)     in the case of clause (B) above, subject to clause (ii)
        below, as promptly as practicable prepare and file, if necessary
        pursuant to applicable law, a post-effective amendment to such
        Registration Statement or a supplement to the related Prospectus or any
        document incorporated therein by reference or file any other required
        document that would be incorporated by reference into such Registration
        Statement and Prospectus so that such Registration Statement does not
        contain any untrue statement of a material fact or omit to state any
        material fact required to be stated therein or necessary to make the
        statements therein not misleading, and such Prospectus does not contain
        any untrue statement of a material fact or omit to state any material
        fact required to be stated therein or necessary to make the statements
        therein, in the light of the circumstances under which they were made,
        not misleading, as thereafter delivered to the purchasers of the
        Registrable Securities being sold thereunder, and, in the case of a
        post-effective amendment to a Registration Statement, subject to the
        next sentence, use its reasonable efforts to cause it to be declared
        effective as promptly as is practicable, and

                (ii)    give notice to the Notice Holders, and the Special
        Counsel, if any, that the availability of the Shelf Registration
        Statement is suspended (a "Deferral Notice") and, upon receipt of any
        Deferral Notice, each Notice Holder agrees not to sell any Registrable
        Securities pursuant to the Registration Statement until such Notice
        Holder's receipt of copies of the supplemented or amended Prospectus
        provided for in clause (i) above, or until it is advised in writing by
        the Company that the Prospectus may be used, and has received copies of
        any additional or supplemental filings that are incorporated or deemed
        incorporated by reference in such Prospectus.

The Company will, subject to its ability to commence a Deferral Period, use its
reasonable efforts to ensure that the use of the Prospectus may be resumed (x)
in the case of clause (A) above, as promptly as is practicable, (y) in the case
of clause (B) above, as soon as, in the sole judgment of the Company, public
disclosure of such Material Event would not be prejudicial to or contrary to the
interests of the Company or, if necessary to avoid unreasonable burden or
expense, as soon as practicable thereafter and (z) in the case of clause (C)
above, as soon as in the reasonable discretion of the Company, such suspension
is no longer appropriate. The Company shall be entitled to exercise its right
under this Section 3(h) to suspend the availability of the Shelf Registration
Statement or any Prospectus, without incurring or accruing any obligation to pay
liquidated damages pursuant to Section 2(e) (the "Deferral Period"); provided
that the aggregate duration of any Deferral Periods shall not exceed 90 days
(whether or not consecutive) in any twelve (12) month period.

                                       10

<PAGE>

        (i)     If reasonably requested in writing in connection with a
disposition of Registrable Securities pursuant to a Registration Statement, make
reasonably available for inspection during normal business hours by a
representative for the Notice Holders of such Registrable Securities, any
broker-dealers, underwriters (if the Company has consented to an underwritten
offering), attorneys and accountants retained by such Notice Holders, and any
attorneys or other agents retained by a broker-dealer or underwriter (if the
Company has consented to an underwritten offering) engaged by such Notice
Holders, all relevant financial and other records and pertinent corporate
documents and properties of the Company and its subsidiaries, and cause the
appropriate officers, directors and employees of the Company and its
subsidiaries to make reasonably available for inspection during normal business
hours on reasonable notice all relevant information reasonably requested by such
representative for the Notice Holders, or any such broker-dealers,
underwriters(if the Company has consented to an underwritten offering),
attorneys or accountants in connection with such disposition, in each case as is
customary for similar "due diligence" examinations; provided the Company is not
in a Deferral Period; and provided further that such persons shall first agree
in writing with the Company that any information that is reasonably designated
by the Company as confidential at the time of delivery of such information shall
be kept confidential by such persons and shall be used solely for the purposes
of exercising rights under this Agreement, unless (i) disclosure of such
information is required by court or administrative order or is necessary to
respond to inquiries of regulatory authorities, (ii) disclosure of such
information is required by law (including any disclosure requirements pursuant
to federal securities laws in connection with the filing of any Registration
Statement or the use of any prospectus referred to in this Agreement), (iii)
such information becomes generally available to the public other than as a
result of a disclosure or failure to safeguard by any such person or (iv) such
information becomes available to any such person from a source other than the
Company and such source is not bound by a confidentiality agreement, and
provided further that the foregoing inspection and information gathering shall,
to the greatest extent possible, be coordinated on behalf of all the Notice
Holders and the other parties entitled thereto by Sidley Austin Brown & Wood
LLP. Any person legally compelled to disclose any such confidential information
made available for inspection shall provide the Company with prompt prior
written notice of such requirement so that the Company may seek a protective
order or other appropriate remedy.

        (j)     Comply with all applicable rules and regulations of the SEC and
as soon as practicable make generally available to its securityholders earning
statements (which need not be audited) satisfying the provisions of Section
11(a) of the Securities Act and Rule 158 thereunder (or any similar rule
promulgated under the Securities Act) for a 12-month period commencing on the
first day of the first fiscal quarter of the Company commencing after the
effective date of a Registration Statement.

        (k)     Cooperate with each Notice Holder to facilitate the timely
preparation and delivery of certificates representing Registrable Securities
sold or to be sold pursuant to a Registration Statement, which certificates
shall not bear any restrictive legends, and cause such Registrable Securities to
be in such denominations as are permitted by the

                                       11

<PAGE>

Indenture and registered in such names as such Notice Holder may request in
writing at least two (2) Business Day prior to any sale of such Registrable
Securities.

        (l)     Provide a CUSIP number for all Registrable Securities covered by
each Registration Statement not later than the effective date of such
Registration Statement and provide the Trustee and the transfer agent for the
Common Stock with printed certificates for the Registrable Securities that are
in a form eligible for deposit with The Depository Trust Company.

        (m)     Cooperate and assist in any filings required to be made with the
National Association of Securities Dealers, Inc.

        (n)     In the case of a Shelf Registration Statement involving an
underwritten offering, the Company shall enter into such customary agreements
(including, if requested, an underwriting agreement in a form substantially
similar to the underwriting agreements for its primary offerings) and take all
such other action, if any, as Holders of a majority of the Registrable
Securities being sold or any managing underwriters shall reasonably request in
order to facilitate any disposition of Notes and Underlying Common Stock
pursuant to such Shelf Registration Statement, including, without limitation,
(i) using its reasonable efforts to cause its counsel to deliver an opinion or
opinions in a form substantially similar to the opinions for its primary
offerings, (ii) using its reasonable efforts to cause its officers to execute
and deliver all documents and certificates in a form substantially similar to
the documents and certificates for its primary offerings and (iii) using its
reasonable efforts to cause its independent public accountants to provide a
comfort letter or letters in a form substantially similar to the comfort letter
in its primary offerings.

        (o)     Upon (i) the filing of the Initial Shelf Registration Statement
and (ii) the effectiveness of the Initial Shelf Registration Statement, announce
the same, in each case by release to Reuters Economic Services and Bloomberg
Business News.

                                       12

<PAGE>

        Section 4. Holder's Obligations. Each Holder agrees, by acquisition of
the Registrable Securities, that no Holder shall be entitled to sell any of such
Registrable Securities pursuant to a Registration Statement or to receive a
Prospectus relating thereto, unless such Holder has furnished the Company with a
Notice and Questionnaire as required pursuant to Section 2(d) hereof (including
the information required to be included in such Notice and Questionnaire) and
the information set forth in the next sentence. Each Notice Holder agrees
promptly to furnish to the Company all information required to be disclosed in
order to make the information previously furnished to the Company by such Notice
Holder not misleading and any other information regarding such Notice Holder and
the distribution of such Registrable Securities as the Company may from time to
time reasonably request. Any sale of any Registrable Securities by any Holder
shall constitute a representation and warranty by such Holder that the
information relating to such Holder and its plan of distribution is as set forth
in the Registration Statement and in the Prospectus delivered by such Holder in
connection with such disposition, that such Registration Statement and
Prospectus do not as of the time of such sale contain any untrue statement of a
material fact relating to or provided by such Holder or its plan of distribution
and that such Registration Statement and Prospectus do not as of the time of
such sale omit to state any material fact relating to or provided by such Holder
or its plan of distribution necessary to make the statements in such
Registration Statement and Prospectus, in the light of the circumstances under
which they were made, not misleading.

        Section 5. Registration Expenses. The Company shall bear all fees and
expenses incurred in connection with the performance by the Company of its
obligations under Sections 2 and 3 of this Agreement whether or not any
Registration Statement is declared effective. Such fees and expenses shall
include, without limitation, (i) all registration and filing fees (including,
without limitation, fees and expenses (x) with respect to filings required to be
made with the National Association of Securities Dealers, Inc. and (y) of
compliance with federal and state securities or Blue Sky laws (including,
without limitation, reasonable fees and disbursements of the Special Counsel in
connection with Blue Sky qualifications of the Registrable Securities under the
laws of such jurisdictions as Notice Holders of a majority of the Registrable
Securities being sold pursuant to a Registration Statement may designate), (ii)
printing expenses (including, without limitation, expenses of printing
certificates for Registrable Securities in a form eligible for deposit with The
Depository Trust Company), (iii) duplication expenses relating to copies of any
Registration Statement or Prospectus delivered to any Holders hereunder, (iv)
fees and disbursements of counsel for the Company in connection with the Shelf
Registration Statement, (v) reasonable fees and disbursements of the Trustee and
its counsel and of the registrar and transfer agent for the Common Stock and
(vi) any Securities Act liability insurance obtained by the Company in its sole
discretion. In addition, the Company shall pay the internal expenses of the
Company (including, without limitation, all salaries and expenses of officers
and employees performing legal or accounting duties), the expense of any annual
audit, the fees and expenses incurred in connection with the listing by the
Company of the Registrable Securities on any securities exchange on which
similar securities of the Company are then listed and the fees and expenses of
any person, including special experts, retained by the Company. Notwithstanding
the provisions of this Section 5, each seller of Registrable Securities shall
pay selling expenses, including any underwriting discount and commissions, all
registration expenses to the extent required by applicable law and any and fees
and disbursements of counsel or other agents for such seller.

                                       13

<PAGE>

        Section 6. Indemnification and Contribution.

        (a)     Indemnification by the Company. The Company agrees to indemnify
and hold harmless each Notice Holder, each person who controls any Notice Holder
within the meaning of either Section 15 of the Securities Act or Section 20 of
the Exchange Act, against any and all losses, claims, damages or liabilities
arising out of or based upon any untrue statement or alleged untrue statement of
a material fact contained in any Registration Statement or in any amendment
thereof, any preliminary prospectus or the Prospectus (as amended or
supplemented if the Company shall have furnished any amendments or supplements
thereto), arising out of or based upon any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were
made, not misleading, and agrees to reimburse such indemnified party to the
extent set forth below, as incurred, for any legal or other expenses reasonably
incurred by it in connection with investigating or defending any such loss,
claim, damage, liability or action; except insofar as any such loss, claim,
damage or liability arises out of or is based upon any such untrue statement or
alleged untrue statement or omission or alleged omission based upon information
relating to any Holder furnished to the Company in writing by or on behalf of
such Holder specifically for use therein; provided that the Company will not be
liable to any indemnified person on account of any such losses, claims, damages
or liabilities arising out of or based upon any untrue statement or alleged
untrue statement or omission or alleged omission made in any preliminary
prospectus provided in each case the Company has performed its obligations under
Section 3(f) hereof if either (A) (i) the Holder failed to send or deliver a
copy of the Prospectus with or prior to the delivery of written confirmation of
the sale by such Holder to the person asserting the claim from which such
losses, claims, damages or liabilities arise and (ii) the Prospectus would have
corrected such untrue statement or alleged untrue statement or such omission or
alleged omission, or (B) (x) such untrue statement or alleged untrue statement,
omission or alleged omission is corrected in an amendment or supplement to the
Prospectus and (y) having previously been furnished by or on behalf of the
Company with copies of the Prospectus as so amended or supplemented, such Holder
thereafter fails to deliver such Prospectus as so amended or supplemented, with
or prior to the delivery of written confirmation of the sale of a Registrable
Security to the person asserting the claim from which such losses, claims,
damages or liabilities arise. In connection with any underwritten offering
pursuant to Section 8, the Company will also indemnify the underwriters, if any,
their officers and directors and each person who controls such underwriters
(within the meaning of the Securities Act and the Exchange Act) to the same
extent as provided herein with respect to the indemnification of the Holders, if
requested in connection with any Registration Statement.

        (b)     Indemnification by Holders. Each Holder agrees severally and not
jointly to indemnify and hold harmless the Company, each of its directors, each
of its officers and each person who controls the Company within the meaning of
either Section 15 of the Securities Act or Section 20 of the Exchange Act, to
the same extent as the foregoing indemnity from the Company to such Holder, but
only with reference to written information relating to such Holder furnished to
the Company by or on behalf of such Holder for use in the preparation of the
documents referred to in the foregoing indemnity. In no event shall the
liability of any Holder hereunder be greater in amount than the dollar amount of
the proceeds received by such Holder upon the sale of the Registrable Securities
pursuant to the Registration Statement giving rise to such indemnification
obligation. In connection with any underwritten offering pursuant to

                                       14

<PAGE>

Section 8, each Holder will also indemnify the underwriters, if any, their
officers and directors and each person who controls such underwriters (within
the meaning of the Securities Act and the Exchange Act) to the same extent as
provided herein with respect to the indemnification of the Company, if requested
in connection with any Registration Statement.

        (c)     Conduct of Indemnification Proceedings. Promptly after receipt
by an indemnified party under this Section 6 of notice of the commencement of
any action (including any governmental investigation), such indemnified party
will, if a claim in respect thereof is to be made against the indemnifying party
under this Section 6, notify the indemnifying party in writing of the
commencement thereof; but the omission so to notify the indemnifying party will
not relieve it from any liability which it may have to any indemnified party
otherwise than under this Section 6. In case any such action is brought against
any indemnified party, and it notifies the indemnifying party of the
commencement thereof, the indemnifying party will be entitled to participate
therein, and to the extent that it shall wish, jointly, with any other
indemnifying party similarly notified, to assume the defense thereof, with
counsel reasonably satisfactory to such indemnified party (who shall not, except
with the consent of the indemnified party, be counsel to the indemnifying
party). In any such proceeding, any indemnified party shall have the right to
obtain its own counsel, but the fees and expenses of such counsel shall be at
the expense of such indemnified party unless (i) the indemnifying party and the
indemnified party shall have mutually agreed to the retention of such counsel or
(ii) the named parties to any such proceeding (including any impleaded parties)
include both the indemnifying party and the indemnified party and representation
of both parties by the same counsel would be inappropriate due to actual or
potential conflicts of interests between them. It is understood that the
indemnifying party shall not, in respect of the legal expenses of any
indemnified party in connection with any proceeding or related proceedings in
the same jurisdiction, be liable for the fees and expenses of more than one
separate identified firm (in addition to any identified local counsel) for all
such indemnified parties and that all such fees and expenses shall be reimbursed
as they are incurred. Such firm shall be designated in writing by, in the case
of parties indemnified pursuant to Section 6(a), the Holders of a majority (with
Holders of Notes deemed to be the Holders, for purposes of determining such
majority, of the number of shares of Underlying Common Stock into which such
Notes are or would be convertible as of the date on which such designation is
made) of the Registrable Securities covered by the Registration Statement held
by Holders that are indemnified parties pursuant to Section 6(a) and, in the
case of parties indemnified pursuant to Section 6(b), the Company. The
indemnifying party shall not be liable for any settlement of any proceeding
effected without its prior written consent, but if settled with such consent or
if there be a final judgment for the plaintiff, the indemnifying party agrees to
indemnify the indemnified party from and against any loss or liability by reason
of such settlement or judgment. No indemnifying party shall, without the prior
written consent of the indemnified party (which consent shall not be
unreasonably withheld or delayed), effect any settlement of any pending or
threatened proceeding in respect of which any indemnified party is a party and
indemnity could have been sought hereunder by such indemnified party, unless
such settlement (i) includes an unconditional release of such indemnified party
from all liability on claims that are the subject matter of such proceeding and
(ii) does not include a statement as to, or an admission of, fault, culpability
or a failure to act by or on behalf of the indemnified party.

        (d)     Contribution. To the extent that the indemnification provided
for in Section 6(a) or 6(b) hereof is unavailable to an indemnified party or
insufficient in respect of any losses,

                                       15

<PAGE>

claims, damages or liabilities referred to therein, then each indemnifying party
under such paragraph, in lieu of indemnifying such indemnified party thereunder,
shall contribute to the amount paid or payable by such indemnified party as a
result of such losses, claims, damages or liabilities (i) in such proportion as
is appropriate to reflect the relative benefits received by the indemnifying
party or parties on the one hand and the indemnified party or parties on the
other hand or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not
only the relative benefits referred to in clause (i) above but also the relative
fault of the indemnifying party or parties on the one hand and of the
indemnified party or parties on the other hand in connection with the statements
or omissions that resulted in such losses, claims, damages or liabilities, as
well as any other relevant equitable considerations. The relative benefits
received by the Company shall be deemed to be equal to the total net proceeds
from the initial placement pursuant to the Purchase Agreement (before deducting
expenses) of the Registrable Securities to which such losses, claims, damages or
liabilities relate. The relative benefits received by any Holder shall be deemed
to be equal to the value of receiving Registrable Securities that are registered
under the Securities Act. The relative fault of the Holders on the one hand and
the Company on the other hand shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Holders or by the Company, and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Holders' respective obligations to contribute
pursuant to this paragraph 6 are several in proportion to the respective number
of Registrable Securities they have sold pursuant to a Registration Statement,
and not joint.

        The parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 6(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
The amount paid or payable by an indemnified party as a result of the losses,
claims, damages or liabilities referred to in the immediately preceding
paragraph shall be deemed to include, subject to the limitations set forth
above, any legal or other expenses reasonably incurred by such indemnified party
in connection with investigating or defending any such action or claim.
Notwithstanding this Section 6, no indemnifying party that is a selling Holder
shall be required to contribute any amount in excess of the amount by which the
total price at which the Registrable Securities sold by it and distributed to
the public were offered to the public exceeds the amount of any damages that
such indemnifying party has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11 (f) of
the Securities Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation.

        (e)     The remedies provided for in this Section 6 are not exclusive
and shall not limit any rights or remedies which may otherwise be available to
an indemnified party at law or in equity, hereunder, under the Purchase
Agreement or otherwise.

        (f)     The indemnity and contribution provisions contained in this
Section 6 shall remain operative and in full force and effect regardless of (i)
any termination of this Agreement, (ii) any investigation made by or on behalf
of any Holder, any person controlling any Holder or

                                       16

<PAGE>

any affiliate of any Holder or by or on behalf of the Company, its officers or
directors or any person controlling the Company and (iii) the sale of any
Registrable Securities by any Holder.

        Section 7. Information Requirements. The Company covenants that, if at
any time before the end of the Effectiveness Period the Company is not subject
to the reporting requirements of the Exchange Act, it will comply with Rule
144A(d)(4) to the extent required from time to time to enable such Holder to
sell Registrable Securities without registration under the Securities Act within
the limitation of the exemptions provided by Rule 144A under the Securities Act.
Notwithstanding the foregoing, nothing in this Section 7 shall be deemed to
require the Company to register any of its securities (other than the Common
Stock) under any section of the Exchange Act.

        Section 8. Underwritten Registrations. The Holders of Registrable
Securities covered by a Shelf Registration Statement who desire to do so may
sell such Registrable Securities to an underwriter in an underwritten offering
for reoffering to the public if the Company consents to such method of
distribution. If any of the Registrable Securities covered by any Shelf
Registration Statement are to be sold in an underwritten offering, the
investment banker or investment bankers and manager or managers that will
administer the offering will be selected by the Holders of a majority of such
Registrable Securities included in such offering, subject to the consent of the
Company (which shall not be unreasonably withheld or delayed), and such Holders
shall be responsible for all underwriting commissions and discounts and any
transfer taxes in connection therewith. No person may participate in any
underwritten registration hereunder unless such person (i) agrees to sell such
person's Registrable Securities on the basis reasonably provided in any
underwriting arrangements approved by the persons entitled hereunder to approve
such arrangements and (ii) completes and executes all questionnaires, powers of
attorney, indemnities, underwriting agreements and other documents reasonably
required under the terms of such underwriting arrangements.

        Section 9. Miscellaneous.

        (a)     Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given, unless the Company has obtained the written consent of Holders
of a majority of the then outstanding Underlying Common Stock constituting
Registrable Securities (with Holders of Notes deemed to be the Holders, for
purposes of this Section, of the number of outstanding shares of Underlying
Common Stock into which such Notes are or would be convertible as of the date on
which such consent is requested). Notwithstanding the foregoing, a waiver or
consent to depart from the provisions hereof with respect to a matter that
relates exclusively to the rights of Holders whose securities are being sold
pursuant to a Registration Statement and that does not directly or indirectly
affect the rights of other Holders may be given by Holders of at least a
majority of the Registrable Securities being sold by such Holders pursuant to
such Registration Statement; provided that the provisions of this sentence may
not be amended, modified or supplemented except in accordance with the
provisions of the immediately preceding sentence. Notwithstanding the foregoing
sentence, (i) this Agreement may be amended by written agreement signed by the
Company and the Managers, without the consent of the Holders of Registrable
Securities, to cure any ambiguity or to correct or supplement any provision
contained

                                       17

<PAGE>

herein that may be defective or inconsistent with any other provision contained
herein, or to make such other provisions in regard to matters or questions
arising under this Agreement that shall not adversely affect the interests of
the Holders of Registrable Securities. Each Holder of Registrable Securities
outstanding at the time of any such amendment, modification, supplement, waiver
or consent or thereafter shall be bound by any such amendment, modification,
supplement, waiver or consent effected pursuant to this Section 8(b), whether or
not any notice, writing or marking indicating such amendment, modification,
supplement, waiver or consent appears on the Registrable Securities or is
delivered to such Holder.

        (b)     Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, by telecopier, by
courier guaranteeing overnight delivery or by first-class mail, return receipt
requested, and shall be deemed given (i) when made, if made by hand delivery,
(ii) upon confirmation, if made by telecopier, (iii) one (1) Business Day after
being deposited with such courier, if made by overnight courier or (iv) on the
date indicated on the notice of receipt, if made by first-class mail, to the
parties as follows:

                (i)     if to a Holder, at the most current address given by
        such Holder to the Company in a Notice and Questionnaire or any
        amendment thereto;

                (ii)    if to the Company, to:

                        Wells Fargo & Company
                        c/o Faegre & Benson LLP
                        2200 Wells Fargo Center
                        90 South Seventh Street
                        Minneapolis, MN  55402
                        Attention: Sonia A. Shewchuk
                        Telecopy: (612)766-1600

                (iii)   if to the Managers, to:

                        Merrill Lynch, Pierce, Fenner & Smith
                             Incorporated
                        4 World Financial Center
                        New York, New York  10080
                        Attention: Venkat Badinehal
                        Telecopy No.: (212) 449-1897
                        Morgan Stanley & Co. Incorporated
                        1585 Broadway
                        New York, New York
                        Attention: Equity Capital Markets
                        Telecopy No.: (212) 761-0538

                        Goldman, Sachs & Co.
                        85 Broad Street

                                       18

<PAGE>

                        New York, New York  10004
                        Attention: Nadine A. Gartner
                        Telecopy No.: (212) 346-3594

or to such other address as such person may have furnished to the other persons
identified in this Section 8(c) in writing in accordance herewith.

        (c)     Approval of Holders. Whenever the consent or approval of Holders
of a specified percentage of Registrable Securities is required hereunder,
Registrable Securities held by the Company or its affiliates (as such term is
defined in Rule 405 under the Securities Act) (other than the Initial Purchasers
or subsequent Holders if such subsequent Holders are deemed to be such
affiliates solely by reason of their holdings of such Registrable Securities)
shall not be counted in determining whether such consent or approval was given
by the Holders of such required percentage.

        (d)     Successors and Assigns. Any person who purchases any Registrable
Securities from the Initial Purchasers shall be deemed, for purposes of this
Agreement, to be an assignee of the Initial Purchasers. This Agreement shall
inure to the benefit of and be binding upon the successors and assigns of each
of the parties and shall inure to the benefit of and be binding upon each Holder
of any Registrable Securities, provided that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Registrable Securities
in violation of the terms of the Indenture. If any transferee of any Holder
shall acquire Registrable Securities, in any manner, whether by operation of law
or otherwise, such Registrable Securities shall be held subject to all of the
terms of this Agreement, and by taking and holding such Registrable Securities,
such person shall be conclusively deemed to have agreed to be bound by and to
perform all of the terms and provisions of this Agreement and such person shall
be entitled to receive the benefits hereof.

        (e)     Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be original and all of which taken together
shall constitute one and the same agreement.

        (f)     Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

        (g)     Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

        (h)     Severability. If any term provision, covenant or restriction of
this Agreement is held to be invalid, illegal, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions set forth herein
shall remain in full force and effect and shall in no way be affected, impaired
or invalidated thereby, and the parties hereto shall use their best efforts to
find and employ an alternative means to achieve the same or substantially the
same result as that contemplated by such term, provision, covenant or
restriction, it being intended that all of the rights and privileges of the
parties shall be enforceable to the fullest extent permitted by law.

                                       19

<PAGE>

        (i)     Entire Agreement. This Agreement is intended by the parties as a
final expression of their agreement and is intended to be a complete and
exclusive statement of the agreement and understanding of the parties hereto in
respect of the subject matter contained herein and the registration rights
granted by the Company with respect to the Registrable Securities. Except as
provided in the Purchase Agreement, there are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein,
with respect to the registration rights granted by the Company with respect to
the Registrable Securities. This Agreement supersedes all prior agreements and
undertakings among the parties with respect to such registration rights. No
party hereto shall have any rights, duties or obligations other than those
specifically set forth in this Agreement.

        (j)     Termination. This Agreement and the obligations of the parties
hereunder shall terminate upon the end of the Effectiveness Period, except for
any liabilities or obligations under Section 4, 5 or 6 hereof and the
obligations to make payments of and provide for liquidated damages under Section
2(e) hereof to the extent such damages accrue prior to the end of the
Effectiveness Period, each of which shall remain in effect in accordance with
its terms.

                                       20

<PAGE>

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

                                 Wells Fargo & Company

                                 By: /s/ Saturnino S. Fanlo
                                     ------------------------------------
                                     Name:  Saturnino S. Fanlo
                                     Title:  Senior Vice President and Treasurer

Merrill Lynch, Pierce, Fenner & Smith
 Incorporated

By: /s/ Venkat Badinehal
    -----------------------------
     Name:  Venkat Badinehal
     Title:  Vice President

Morgan Stanley & Co. Incorporated

By: /s/ Bryan W. Andrzejewski
    -----------------------------
     Name:  Bryan W. Andrzejewski
     Title:

     /s/ Goldman, Sachs & Co.
---------------------------------
      (Goldman, Sachs & Co.)

Acting severally on behalf of themselves and the
several Initial Purchasers

                                       21<PAGE>
                                                                     EXHIBIT 4.1

                           RANGE RESOURCES CORPORATION

                   AMENDED AND RESTATED 1999 STOCK OPTION PLAN
                            (AS AMENDED MAY 21, 2003)

                                   I. PURPOSE

         The purpose of the RANGE RESOURCES CORPORATION AMENDED AND RESTATED
1999 STOCK OPTION PLAN (the "PLAN") is to provide a means through which RANGE
RESOURCES CORPORATION, a Delaware corporation (the "COMPANY"), and its
affiliates may attract able persons to serve as directors or to enter the employ
of the Company and its affiliates and to provide a means whereby those
individuals upon whom the responsibilities of the successful administration and
management of the Company rest, and whose present and potential contributions to
the welfare of the Company and its affiliates are of importance, can acquire and
maintain stock ownership, thereby strengthening their concern for the welfare of
the Company and its affiliates. A further purpose of the Plan is to provide such
individuals with additional incentive and reward opportunities designed to
enhance the profitable growth of the Company and its affiliates. Accordingly,
the Plan provides for granting Incentive Stock Options (subject to the
provisions of Paragraph VII(c)), options which do not constitute Incentive Stock
Options, Stock Appreciation Rights or any combination of the foregoing, as is
best suited to the circumstances of the particular employee, consultant or
director as provided herein.

                                 II. DEFINITIONS

         The following definitions shall be applicable throughout the Plan
unless specifically modified by any paragraph:

(a)      "AFFILIATE" means any corporation, partnership, limited liability
         company or partnership, association, trust or other organization in
         which the Company owns, directly or indirectly, a 50% or more
         beneficial ownership interest.

(b)      "AWARD" means, individually or collectively, any Option or Stock
         Appreciation Right.

(c)      "AWARD AGREEMENT" means any Option Agreement or Stock Appreciation
         Rights Agreement.

(d)      "BOARD" means the Board of Directors of the Company.

(e)      "CHANGE OF CONTROL" means the occurrence of any of the following
         events: (i) the Company shall not be the surviving entity in any
         merger, consolidation or other reorganization (or survives only as a
         subsidiary of an entity other than a previously wholly-owned subsidiary
         of the Company), (ii) the Company sells, leases or exchanges all or
         substantially all of its assets to any other person or entity (other
         than a wholly-owned subsidiary of the Company), (iii) the

<PAGE>
         Company is to be dissolved and liquidated, (iv) any person or entity,
         including a "GROUP" as contemplated by Section 13(d)(3) of the 1934
         Act, acquires or gains ownership or control (including, without
         limitation, power to vote) of more than 50% of the outstanding shares
         of the Company's voting stock (based upon voting power), or (v) as a
         result of or in connection with a contested election of directors, the
         persons who were directors of the Company before such election shall
         cease to constitute a majority of the Board.

(f)      "CHANGE OF CONTROL VALUE" shall mean (i) the per share price offered to
         Stockholders of the Company in any merger, consolidation,
         reorganization, sale of assets or dissolution transaction, (ii) the
         price per share offered to Stockholders of the Company in any tender
         offer or exchange offer whereby a Change of Control takes place, or
         (iii) if the Change of Control occurs other than pursuant to a tender
         or exchange offer, the Fair Market Value per share of the shares into
         which Awards are exercisable, as determined by the Committee. In the
         event that the consideration offered to Stockholders of the Company in
         a Change of Control consists of anything other than cash, the Committee
         shall determine the fair cash equivalent of the portion of the
         consideration offered which is other than cash.

(g)      "CODE" means the Internal Revenue Code of 1986, as amended. Reference
         in the Plan to any section of the Code shall be deemed to include any
         amendments or successor provisions to such section and any regulations
         under such section.

(h)      "COMMITTEE" means the Compensation Committee of the Board which shall
         be (i) constituted so as to permit the Plan to comply with Rule 16b-3
         and (ii) comprised solely of two or more "outside directors," within
         the meaning of section 162(m) of the Code and applicable interpretive
         authority thereunder.

(i)      "COMPANY" means Range Resources Corporation, a Delaware corporation.

(i)      "CONSULTANT" means any person who is not an employee and who is
         providing advisory or consulting services to the Company or any
         Affiliate.

(j)      "DIRECTOR" means an individual elected to the Board by the Stockholders
         of the Company or by the Board under applicable corporate law who is
         serving on the Board on the date the Plan is adopted by the Board or is
         elected to the Board after such date.

(k)      An "EMPLOYEE" means any person (including an officer or a Director) in
         an employment relationship with the Company or any Affiliate.

(l)      "FAIR MARKET VALUE" means, as of any specified date, the mean of the
         high and low sales prices of the Stock reported on the New York Stock
         Exchange Composite Tape on that date, or if no prices are reported on
         that date, on the last preceding date on which such prices of the Stock
         are so reported. In the event Stock is not publicly traded at the time
         a determination of its value is required to be made hereunder, the
         determination of its fair market value shall be made by the Committee
         in such manner as it deems appropriate.

<PAGE>

(m)      "HOLDER" means an employee, Consultant or Director who has been granted
         an Award.

(n)      "INCENTIVE STOCK OPTION" means an incentive stock option within the
         meaning of section 422 of the Code.

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

(p)      "OPTION" means an Award granted under Paragraph VII of the Plan and
         includes both Incentive Stock Options to purchase Stock and Options
         that do not constitute Incentive Stock Options to purchase Stock.

(q)      "OPTION AGREEMENT" means a written agreement between the Company and a
         Holder with respect to an Option.

(r)      "PLAN" means the Range Resources Corporation 1999 Stock Option Plan, as
         amended from time to time.

(s)      "RULE 16b-3" means SEC Rule 16b-3 promulgated under the 1934 Act, as
         such may be amended from time to time, and any successor rule,
         regulation or statute fulfilling the same or a similar function.

(t)      "SPREAD" means, in the case of a Stock Appreciation Right, an amount
         equal to the excess, if any, of the Fair Market Value of a share of
         Stock on the date such right is exercised over the exercise price of
         such Stock Appreciation Right.

(u)      "STOCK" means the common stock, par value $0.01 per share, of the
         Company.

(v)      "STOCKHOLDER" means a holder of Stock or other security of the Company,
         and with respect to any matter requiring Stockholder approval, the term
         "Stockholder" shall mean a holder of Stock or other Company security
         entitled to vote on such matter.

(w)      "STOCK APPRECIATION RIGHT" means an Award granted under Paragraph VIII
         of the Plan.

(x)      "STOCK APPRECIATION RIGHTS AGREEMENT" means a written agreement between
         the Company and a Holder with respect to a Stock Appreciation Right.

                  III. EFFECTIVE DATE AND DURATION OF THE PLAN

         The Plan shall be effective upon the date of its adoption by the Board,
provided the Plan is approved by the Stockholders of the Company within twelve
months thereafter. Notwithstanding any provision in the Plan or in any Award
Agreement, no Option or Stock Appreciation Right granted on or after the
effective date of the Plan shall be exercisable prior to such Stockholder
approval. No further Awards may be granted under the Plan after the expiration
of ten years from the date of its adoption by the Board. The Plan shall remain
in effect until all Awards granted under the Plan have been satisfied or
expired.

<PAGE>

                               IV. ADMINISTRATION

         (a) COMMITTEE. The Plan shall be administered by the Committee.

         (b) POWERS. Subject to the express provisions of the Plan, the
Committee shall have sole authority, in its discretion, to determine which
employees, Consultants or Directors shall receive an Award, the time or times
when such Award shall be made, the type of Award, and the number of shares of
Stock which may be issued under each Option or Stock Appreciation Right. In
making such determinations the Committee may take into account the nature of the
services rendered by the respective employees, Consultants or Directors, their
present and potential contribution to the success of the Company and its
Affiliates and such other factors as the Committee in its discretion shall deem
relevant.

         (c) ADDITIONAL POWERS. The Committee shall have such additional powers
as are delegated to it by the other provisions of the Plan. Subject to the
express provisions of the Plan, the Committee is authorized to construe the Plan
and the respective Award Agreements executed thereunder, to prescribe such rules
and regulations relating to the Plan as it may deem advisable to carry out the
Plan, and to determine the terms, restrictions and provisions of each Award,
including such terms, restrictions and provisions as shall be requisite in the
judgment of the Committee to cause designated Options to qualify as Incentive
Stock Options, and to make all other determinations necessary or advisable for
administering the Plan. The Committee may correct any defect or supply any
omission or reconcile any inconsistency in the Plan or in any Award Agreement in
the manner and to the extent it shall deem expedient to carry it into effect.
The determinations of the Committee on the matters referred to in this Paragraph
IV shall be conclusive.

                               V. GRANT OF AWARDS;
                           SHARES SUBJECT TO THE PLAN

         (a) STOCK GRANT AND AWARD LIMITS. The Committee may from time to time
grant Awards to one or more employees, Consultants or Directors determined by it
to be eligible for participation in the Plan in accordance with the provisions
of Paragraph VI. Subject to adjustment in the same manner as provided in
Paragraph IX with respect to shares of Stock subject to Awards then outstanding,
the aggregate number of shares of Stock that may be issued under the Plan shall
not exceed 8,750,000 shares. Shares shall be deemed to have been issued under
the Plan only (i) to the extent actually issued and delivered pursuant to an
Award, or (ii) to the extent an Award is settled in cash. To the extent that an
Award lapses or the rights of its Holder terminate, any shares of Stock subject
to such Award shall again be available for the grant of an Award. For the sole
purpose of complying with the compensation deduction limitations set forth in
section 162(m) of the Code, no single individual may, in any calendar year,
receive Awards which relate to in excess of 500,000 shares of Stock (subject to
adjustment in the same manner as provided in Paragraph IX with respect to shares
of Stock subject to Awards then outstanding). The limitation set forth in the
preceding sentence shall be applied in a manner which will permit compensation
generated under the Plan to constitute "performance-based" compensation for
purposes of section 162(m) of the Code, including, without limitation, counting
against such maximum number of shares, to the extent

<PAGE>

required under section 162(m) of the Code and applicable interpretive authority
thereunder, any shares subject to Awards that are canceled or repriced.

         (b) STOCK OFFERED. The Stock to be offered pursuant to the grant of an
Award may, at the discretion of the Committee, be authorized but unissued Stock
or Stock previously issued and outstanding and reacquired by the Company.

                                 VI. ELIGIBILITY

         Awards may be granted only to persons who, at the time of grant, are
employees (including officers and Directors who are also employees) Consultants
or Directors. An Award may be granted on more than one occasion to the same
person, and, subject to the limitations set forth in the Plan, such Award may
include an Incentive Stock Option or an Option that is not an Incentive Stock
Option, a Stock Appreciation Right or any combination thereof.

                               VII. STOCK OPTIONS

         (a) OPTION PERIOD. The term of each Option shall be as specified by the
Committee at the date of grant.

         (b) LIMITATIONS ON EXERCISE OF OPTION. An Option shall be exercisable
in whole or in such installments and at such times as determined by the
Committee.

         (c) SPECIAL LIMITATIONS ON INCENTIVE STOCK OPTIONS. An Incentive Stock
Option may be granted only to an individual who is an employee of the Company or
any parent or subsidiary corporation (as defined in section 424 of the Code) at
the time the Option is granted. To the extent that the aggregate Fair Market
Value (determined at the time the respective Incentive Stock Option is granted)
of Stock with respect to which Incentive Stock Options granted after 1986 are
exercisable for the first time by an individual during any calendar year under
all incentive stock option plans of the Company and its parent and subsidiary
corporations exceeds $100,000, such Incentive Stock Options shall be treated as
Options which do not constitute Incentive Stock Options. The Committee shall
determine, in accordance with applicable provisions of the Code, Treasury
Regulations and other administrative pronouncements, which of a Holder's
Incentive Stock Options will not constitute Incentive Stock Options because of
such limitation and shall notify the Holder of such determination as soon as
practicable after such determination. No Incentive Stock Option shall be granted
to an individual if, at the time the Option is granted, such individual owns
stock possessing more than 10% of the total combined voting power of all classes
of stock of the Company or of its parent or subsidiary corporation, within the
meaning of section 422(b)(6) of the Code, unless (i) at the time such Option is
granted the option price is at least 110% of the Fair Market Value of the Stock
subject to the Option and (ii) such Option by its terms is not exercisable after
the expiration of five years from the date of grant. An Incentive Stock Option
shall not be transferable otherwise than by will or the laws of descent and
distribution, and shall be exercisable during the Holder's lifetime only by such
Holder or the Holder's guardian or legal representative. Notwithstanding any
provision in the Plan or in any Option Agreement, (1) no Incentive Stock Option
shall be granted after the expiration of 12

<PAGE>

months from the date of the adoption of the Plan by the Board unless the Plan
has been approved by the Stockholders of the Company within such 12-month period
in a manner that satisfies the requirements of section 422 of the Code and (2)
any Option granted prior to the expiration of such 12-month period that was
intended to constitute an Incentive Stock Option shall constitute an Option that
is not an Incentive Stock Option if the Plan has not been approved by the
Stockholders of the Company within such 12-month period in a manner that
satisfies the requirements of section 422 of the Code.

         (d) OPTION AGREEMENT. Each Option shall be evidenced by an Option
Agreement in such form and containing such provisions not inconsistent with the
provisions of the Plan as the Committee from time to time shall approve,
including, without limitation, provisions to qualify an Incentive Stock Option
under section 422 of the Code. Each Option Agreement shall specify the effect of
termination of employment or membership on the Board, as applicable, on the
exercisability of the Option. An Option Agreement may provide for the payment of
the option price, in whole or in part, (i) in cash or (ii) by the delivery of a
number of shares of Stock (plus cash if necessary) having a Fair Market Value
equal to such option price. Moreover, an Option Agreement may provide for a
"cashless exercise" of the Option pursuant to procedures established by the
Committee (as the same may be amended from time to time). Such Option Agreement
may also include, without limitation, provisions relating to (1) subject to the
provisions hereof accelerating such vesting on a Change of Control, vesting of
Options, (2) tax matters (including provisions (A) permitting the delivery of
additional shares of Stock or the withholding of shares of Stock from those
acquired upon exercise to satisfy federal, state or local income tax withholding
requirements and (B) dealing with any other applicable employee wage withholding
requirements), and (3) any other matters not inconsistent with the terms and
provisions of this Plan that the Committee shall in its sole discretion
determine. The terms and conditions of the respective Option Agreements need not
be identical.

         (e) OPTION PRICE AND PAYMENT. The price at which a share of Stock may
be purchased upon exercise of an Option shall be determined by the Committee,
but, subject to adjustment as provided in Paragraph IX, such purchase price
shall not be less than the Fair Market Value of a share of Stock on the date
such Option is granted. The Option or portion thereof may be exercised by
delivery of an irrevocable notice of exercise to the Company in a manner
specified by the Committee. The purchase price of the Option or portion thereof
shall be paid in full in the manner prescribed by the Committee. Separate stock
certificates shall be issued by the Company for those shares acquired pursuant
to the exercise of an Incentive Stock Option and for those shares acquired
pursuant to the exercise of any Option that does not constitute an Incentive
Stock Option.

         (f) STOCKHOLDER RIGHTS AND PRIVILEGES. The Holder shall be entitled to
all the privileges and rights of a Stockholder only with respect to such shares
of Stock as have been purchased under the Option and for which certificates of
stock have been registered in the Holder's name.

         (g) OPTIONS AND RIGHTS IN SUBSTITUTION FOR STOCK OPTIONS GRANTED BY
OTHER CORPORATIONS. Options and Stock Appreciation Rights may be granted under
the Plan from time to time in substitution for stock options held by individuals
employed by corporations who become employees as a result of a merger or
consolidation of the employing corporation with the Company or any Affiliate, or
the acquisition by the Company or an Affiliate of the assets of the employing
corporation,

<PAGE>

or the acquisition by the Company or an Affiliate of stock of the employing
corporation with the result that such employing corporation becomes an
Affiliate.

                         VIII. STOCK APPRECIATION RIGHTS

         (a) STOCK APPRECIATION RIGHTS. A Stock Appreciation Right is the right
to receive an amount equal to the Spread with respect to a share of Stock upon
the exercise of such Stock Appreciation Right. Stock Appreciation Rights may be
granted in connection with the grant of an Option, in which case the Option
Agreement will provide that exercise of Stock Appreciation Rights will result in
the surrender of the right to purchase the shares of Stock under the Option as
to which the Stock Appreciation Rights were exercised. Alternatively, Stock
Appreciation Rights may be granted independently of Options in which case each
Award of Stock Appreciation Rights shall be evidenced by a Stock Appreciation
Rights Agreement which shall contain such terms and conditions as may be
approved by the Committee. The terms and conditions of the respective Stock
Appreciation Rights Agreements need not be identical. The Spread with respect to
a Stock Appreciation Right may be payable either in cash, shares of Stock with a
Fair Market Value equal to the Spread or in a combination of cash and shares of
Stock. Each Stock Appreciation Rights Agreement shall specify the effect of
termination of employment or membership on the Board, as applicable, on the
exercisability of the Stock Appreciation Rights.

         (b) EXERCISE PRICE. The exercise price of each Stock Appreciation Right
shall be determined by the Committee, but such exercise price (i) shall not be
less than the Fair Market Value of a share of Stock on the date the Stock
Appreciation Right is granted (or such greater exercise price as may be required
if such Stock Appreciation Right is granted in connection with an Incentive
Stock Option that must have an exercise price equal to 110% of the Fair Market
Value of the Stock on the date of grant pursuant to Paragraph VII(c)), and (ii)
shall be subject to adjustment as provided in Paragraph IX.

         (c) EXERCISE PERIOD. The term of each Stock Appreciation Right shall be
as specified by the Committee at the date of grant.

         (d) LIMITATIONS ON EXERCISE OF STOCK APPRECIATION RIGHT. A Stock
Appreciation Right shall be exercisable in whole or in such installments and at
such times as determined by the Committee. In the case of any Stock Appreciation
Right that is granted in connection with an Incentive Stock Option, such right
shall be exercisable only when the Fair Market Value of the Common Stock exceeds
the price specified therefor in the Option or the portion thereof to be
surrendered.

                     IX. RECAPITALIZATION OR REORGANIZATION

         (a) The shares with respect to which Awards may be granted are shares
of Stock as presently constituted, but if, and whenever, prior to the expiration
of an Award theretofore granted, the Company shall effect a subdivision or
consolidation of shares of Stock or the payment of a stock dividend on Stock
without receipt of consideration by the Company, the number of shares of Stock
with respect to which such Award may thereafter be exercised or satisfied, as
applicable, (i) in the

<PAGE>

event of an increase in the number of outstanding shares shall be
proportionately increased, and the purchase price per share shall be
proportionately reduced, and (ii) in the event of a reduction in the number of
outstanding shares shall be proportionately reduced, and the purchase price per
share shall be proportionately increased. Any fractional share resulting from
such adjustment shall be rounded up to the next whole share.

         (b) If the Company recapitalizes, reclassifies its capital stock, or
otherwise changes its capital structure (a "recapitalization"), the number and
class of shares of Stock covered by an Award theretofore granted shall be
adjusted so that such Award shall thereafter cover the number and class of
shares of Stock and other securities to which the Holder would have been
entitled pursuant to the terms of the recapitalization if, immediately prior to
such recapitalization, the Holder had been the holder of record of the number of
shares of Stock then covered by such Award.

         (c) In the event of a Change of Control, and except as provided in any
Award Agreement, outstanding Awards shall immediately vest and become
exercisable or satisfiable, as applicable, and any Awards that are Options shall
continue to be exercisable for the remainder of the applicable Option term.
Notwithstanding the foregoing, the Committee, in its discretion, may determine
that upon the occurrence of a Change of Control, each Award outstanding
hereunder shall terminate within a specified number of days after notice to the
Holder, and such Holder shall receive, with respect to each share of Stock
subject to such Award, cash in an amount equal to the excess, if any, of the
Change of Control Value over the exercise price, if applicable, under such Award
for such share. The provisions contained in this paragraph shall not terminate
any rights of the Holder to further payments pursuant to any other agreement
with the Company following a Change of Control.

         (d) In the event of changes in the outstanding Stock by reason of
recapitalization, reorganizations, mergers, consolidations, combinations,
split-ups, split-offs, spin-offs, exchanges, a Change of Control or other
relevant changes in capitalization or distributions to the holders of Stock
occurring after the date of the grant of any Award and not otherwise provided
for by this Paragraph IX, any outstanding Awards and any Award Agreements shall
be subject to adjustment by the Committee at its discretion as to the number and
price of shares of Stock or other consideration subject to such Awards. In the
event of any such change in the outstanding Stock or distribution to the holders
of Stock, the aggregate number of shares available under the Plan (and the
aggregate number of shares that may be granted to any one individual) may be
appropriately adjusted by the Committee, whose determination shall be
conclusive.

         (e) The existence of the Plan and the Awards granted hereunder shall
not affect in any way the right or power of the Board or the Stockholders of the
Company to make or authorize any adjustment, recapitalization, reorganization or
other change in the Company's or any Affiliate's capital structure or its
business, any merger or consolidation of the Company or any Affiliate, any issue
of debt or equity securities ahead of or affecting Stock or the rights thereof,
the dissolution or liquidation of the Company or any Affiliate or any sale,
lease, exchange or other disposition of all or any part of its assets or
business or any other corporate act or proceeding.

         (f) Any adjustment provided for in the above Subparagraphs shall be
subject to any required Stockholder action.

<PAGE>

         (g) Except as hereinbefore expressly provided, the issuance by the
Company of shares of stock of any class or securities convertible into shares of
stock of any class, for cash, property, labor or services, upon direct sale,
upon the exercise of rights or warrants to subscribe therefore, or upon
conversion of shares or obligations of the Company convertible into such shares
or other securities, and in any case whether or not for fair value, shall not
affect, and no adjustment by reason thereof shall be made with respect to, the
number of shares of Stock subject to Awards theretofore granted or the purchase
price per share, if applicable.

                    X. AMENDMENT AND TERMINATION OF THE PLAN

         The Board may amend, alter, suspend, discontinue or terminate this Plan
or the Committee's authority to grant Awards under this Plan without the consent
of Stockholders or Holders, except that any amendment or alteration to this Plan
shall be subject to the approval of the Company's Stockholders not later than
the annual meeting next following such Board action if such Stockholder approval
is required by any federal or state law or regulation or the rules of any stock
exchange or automated quotation system on which the Stock may then be listed or
quoted, and the Board may otherwise, in its discretion, determine to submit
other such changes to this Plan to Stockholders for approval; provided that,
without the consent of an affected Holder, no such Board action may materially
and adversely affect the rights of such Holder under any previously granted and
outstanding Award. The Committee may waive any conditions or rights under, or
amend, alter, suspend, discontinue or terminate any Award theretofore granted
and any Award agreement relating thereto, except as otherwise provided in this
Plan; provided that, without the consent of an affected Holder, no such
Committee action may materially and adversely affect the rights of such Holder
under such Award; and, provided further, that no Award may be repriced,
replaced, regranted through cancellation, or modified without Stockholder
approval (except in connection with a change in the Company's capitalization),
if the effect would be to reduce the exercise price for the shares underlying
such Award.

                               XII. MISCELLANEOUS

         (a) NO RIGHT TO AN AWARD. Neither the adoption of the Plan by the
Company nor any action of the Board or the Committee shall be deemed to give an
employee or Director any right to be granted an Award or any other rights
hereunder except as may be evidenced by an Option Agreement or Stock
Appreciation Rights Agreement duly executed on behalf of the Company, and then
only to the extent and on the terms and conditions expressly set forth therein.
The Plan shall be unfunded. The Company shall not be required to establish any
special or separate fund or to make any other segregation of funds or assets to
assure the payment of any Award.

         (b) NO EMPLOYMENT RIGHTS CONFERRED. Nothing contained in the Plan shall
(i) confer upon any employee any right with respect to continuation of
employment with the Company or any Affiliate or (ii) interfere in any way with
the right of the Company or any Affiliate to terminate his or her employment at
any time. Nothing contained in the Plan shall confer on any Director any right
with respect to continuation of membership on the Board.

<PAGE>

         (c) OTHER LAWS; WITHHOLDING. The Company shall not be obligated to
issue any Stock pursuant to any Award granted under the Plan at any time when
the shares covered by such Award have not been registered under the Securities
Act of 1933 and such other state and federal laws, rules or regulations as the
Company or the Committee deems applicable and, in the opinion of legal counsel
for the Company, there is no exemption from the registration requirements of
such laws, rules or regulations available for the issuance and sale of such
shares. No fractional shares of Stock shall be delivered. The Company shall have
the right to deduct in connection with all Awards any taxes required by law to
be withheld and to require any payments required to enable it to satisfy its
withholding obligations.

         (d) NO RESTRICTION ON CORPORATE ACTION. Nothing contained in the Plan
shall be construed to prevent the Company or any Affiliate from taking any
corporate action which is deemed by the Company or such Affiliate to be
appropriate or in its best interest, whether or not such action would have an
adverse effect on the Plan or any Award made under the Plan. No employee,
Director, beneficiary or other person shall have any claim against the Company
or any Affiliate as a result of any such action.

         (e) RESTRICTIONS ON TRANSFER. An Award (other than an Incentive Stock
Option, which shall be subject to the transfer restrictions set forth in
Paragraph VII(c)) shall not be transferable otherwise than (i) by will or the
laws of descent and distribution, (ii) pursuant to a "qualified domestic
relations order" as defined by the Code or Title I of the Employee Retirement
Income Security Act of 1974, as amended, or the rules thereunder, or (iii) with
the written consent of the Committee, which may be granted in the discretion of
the Committee in accordance with any applicable transfer restrictions under the
Securities Act of 1933.

         (f) RULE 16b-3. It is intended that the Plan and any grant of an Award
made to a person subject to Section 16 of the 1934 Act meet the requirements of
Rule 16b-3 so that any transaction under the Plan involving a grant, award, or
other acquisition from the Company or disposition to the Company is exempt from
Section 16(b) of the 1934 Act. If any provision of the Plan or any such Award
would result in any such transaction not being exempt from Section 16(b) of the
1934 Act, such provision or Award shall be construed or deemed amended so that
such transaction will be exempt from Section 16(b) of the 1934 Act.

         (g) FACSIMILE SIGNATURE. Any Award Agreement or related document may be
executed by facsimile signature. If any officer who shall have signed or whose
facsimile signature shall have been placed upon any such Award Agreement or
related document shall have ceased to be such officer before the related Award
is granted by the Company, such Award may nevertheless be issued by the Company
with the same effect as if such person were such officer at the date of grant.

         (h) GOVERNING LAW. This Plan shall be construed in accordance with the
laws of the State of Delaware.

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