Document:

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                                                                   Exhibit 10.14

              Nonemployee Directors and
              Consultants Stock Incentive Program

              Edwards Lifesciences Corporation

              March 2000

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Contents

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Article 1. Establishment, Objectives, and Duration                             1

Article 2. Definitions                                                         1

Article 3. Administration                                                      4

Article 4. Eligibility and Participation                                       4

Article 5. Shares Subject to the Program                                       5

Article 6. Stock Options                                                       6

Article 7. Restricted Stock                                                    8

Article 8. Beneficiary Designation                                            10

Article 9. Deferrals                                                          10

Article 10. Rights of Nonemployee Directors and Consultants                   10

Article 11. Change in Control                                                 10

Article 12. Amendment, Modification, and Termination                          11

Article 13. Compliance with Applicable Law and Withholding                    11

Article 14. Indemnification                                                   13

Article 15. Successors                                                        13

Article 16. Legal Construction                                                13

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Edwards Lifesciences Corporation Nonemployee Directors
and Consultants Stock Incentive Program

Article 1. Establishment, Objectives, and Duration

   1.1  Establishment of the Program. Edwards Lifesciences Corporation, a
Delaware corporation (hereinafter referred to as the "Company"), hereby
establishes an incentive compensation plan to be known as the "Edwards
Lifesciences Corporation Nonemployee Directors and Consultants Stock Incentive
Program" (hereinafter referred to as the "Program"), as set forth in this
document. The Program permits the grant of Nonqualified Stock Options and
Restricted Stock.

   The Program shall become effective as of April 1, 2000 (the "Effective Date")
and shall remain in effect as provided in Section 1.3 hereof.

   1.2  Objectives of the Program. The objectives of the Program are to optimize
the profitability and growth of the Company through long-term incentives which
are consistent with the Company's goals and which link the personal interests of
Participants to those of the Company's stockholders. The Program is further
intended to provide flexibility to the Company in its ability to motivate,
attract, and retain the services of Participants who make significant
contributions to the Company's success and to allow Participants to share in the
success of the Company.

   1.3  Duration of the Program. The Program shall commence on the Effective
Date, as described in Section 1.1 hereof, and shall remain in effect, subject to
the right of the Board to amend or terminate the Program at any time pursuant to
Article 12 hereof, until all Shares subject to it shall have been purchased or
acquired according to the Program's provisions. However, in no event may an
Award be granted under the Program on or after April 1, 2010.

Article 2. Definitions

   Whenever used in the Program, the following terms shall have the meanings set
forth below, and when the meaning is intended, the initial letter of the word
shall be capitalized:

   2.1  "Annual Retainer" means the fixed annual fee of a Nonemployee Director
in effect on the first day of the year in which such Annual Retainer is payable
for services to be rendered as a Nonemployee Director of the Company. The Annual
Retainer does not include meeting or chairmanship fees.

   2.2  "Award" means, individually or collectively, a grant under this Program
of Nonqualified Stock Options and Restricted Stock.

   2.3  "Award Agreement" means an agreement entered into by the Company and
each Participant setting forth the terms and provisions applicable to Awards
granted under this Program.

   2.4  "Board" or "Board of Directors" means the Board of Directors of the
Company.

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   2.5  "Change in Control" of the Company shall mean the occurrence of any one
of the following events:

       (a)  Any "Person", as such term is used in Sections 13(d) and 14(d) of
            the Exchange Act (other than the Company, any corporation owned,
            directly or indirectly, by the stockholders of the Company in
            substantially the same proportions as their ownership of stock of
            the Company, and any trustee or other fiduciary holding securities
            under an employee benefit plan of the Company or such
            proportionately owned corporation), is or becomes the "beneficial
            owner" (as defined in Rule 13d-3 under the Exchange Act), directly
            or indirectly, of securities of the Company representing thirty
            percent (30%) or more of the combined voting power of the Company's
            then outstanding securities; or

       (b)  During any period of not more than twenty-four (24) months,
            individuals who at the beginning of such period constitute the Board
            of Directors of the Company, and any new director (other than a
            director designated by a Person who has entered into an agreement
            with the Company to effect a transaction described in Sections
            2.5(a), 2.5(c), or 2.5(d) of this Section 2.5) whose election by the
            Board or nomination for election by the Company's stockholders was
            approved by a vote of at least two-thirds (2/3) of the directors
            then still in office who either were directors at the beginning of
            the period or whose election or nomination for election was
            previously so approved, cease for any reason to constitute at least
            a majority thereof; or

       (c)  The consummation of a merger or consolidation of the Company with
            any other entity, other than: (i) a merger or consolidation which
            would result in the voting securities of the Company outstanding
            immediately prior thereto continuing to represent (either by
            remaining outstanding or by being converted into voting securities
            of the surviving entity) more than sixty percent (60%) of the
            combined voting power of the voting securities of the Company or
            such surviving entity outstanding immediately after such merger or
            consolidation; or (ii) a merger or consolidation effected to
            implement a recapitalization of the Company (or similar transaction)
            in which no Person acquires more than thirty percent (30%) of the
            combined voting power of the Company's then outstanding securities;
            or

       (d)  The Company's stockholders approve a plan of complete liquidation or
            dissolution of the Company, or an agreement for the sale or
            disposition by the Company of all or substantially all of the
            Company's assets (or any transaction having a similar effect.

   2.6  "Code" means the Internal Revenue Code of 1986, as amended from time to
time.

   2.7  "Committee" means the Compensation Committee or any other committee
appointed by the Board to administer Awards to Participants, as specified in
Article 3 herein.

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   2.8  "Company" means Edwards Lifesciences Corporation a Delaware corporation,
and any successor thereto as provided in Article 15 herein.

   2.9  "Consultant" means an individual who is providing or has provided
services to the Company but who is not an Employee or a member of the Board, and
who does not participate in the Edwards Lifesciences Corporation Long-Term Stock
Incentive Compensation Program. For the purposes of this Program, "Employee"
means an employee of the Company or of a Subsidiary of the Company and
"Subsidiary" is defined as any business, whether or not incorporated, in which
the Company has a direct or indirect ownership interest.

   2.10  "Disability" shall have the meaning ascribed to such term in the
Participant's governing long-term disability plan, or if no such plan exists, at
the discretion of the Board.

   2.11  "Effective Date" shall have the meaning ascribed to such term in
Section 1.1 hereof.

   2.12  "Exchange Act" means the Securities Exchange Act of 1934, as amended
from time to time, or any successor act thereto.

   2.13  "Fair Market Value" means, at any date, the closing sale price on the
principal securities exchange on which the Shares are traded on the last
previous day on which a sale was reported.

   2.14  "Insider" shall mean an individual who is, on the relevant date, an
officer, director or ten percent (10%) beneficial owner of any class of the
Company's equity securities that is registered pursuant to Section 12 of the
Exchange Act, all as defined under Section 16 of the Exchange Act.

   2.15  "Nonemployee Director" means a member of the Company's Board who is not
an Employee of the Company.

   2.16  "Nonqualified Stock Option" or "Option" means an option to purchase
Shares granted under Article 6 herein and which is not intended to meet the
requirements of Code Section 422.

   2.17  "Option Price" means the price at which a Share may be purchased by a
Participant pursuant to an Option.

   2.18  "Participant" means a Nonemployee Director or Consultant who has been
selected to receive an Award or who has outstanding an Award granted under the
Program.

   2.19  "Period of Restriction" means the period during which the transfer of
Shares of Restricted Stock is limited in some way (based on the passage of time,
the achievement of performance goals, or upon the occurrence of other events as
determined by the Committee, in its discretion), and the Shares are subject to a
substantial risk of forfeiture, as provided in Article 7 herein.

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   2.20  "Restricted Stock" means an Award granted to a Participant pursuant to
Article 7 herein.

   2.21 "Shares" means the shares of common stock of the Company.

Article 3. Administration

   3.1  General. The Program shall be administered by the Compensation Committee
of the Board, or by any other Committee appointed by the Board. Any Committee
administering the Program shall be comprised entirely of directors. The members
of the Committee shall be appointed from time to time by and shall serve at the
sole discretion of the Board. Members of the Committee may participate in the
Program. The Committee shall have the authority to delegate administrative
duties to officers, Employees, or directors of the Company; provided that the
Committee shall not be able to delegate its authority with respect to granting
Awards to Insiders.

   3.2  Authority of the Committee. Except as limited by law or by the
Certificate of Incorporation or Bylaws of the Company, and subject to the
provisions of the Program, the Committee shall have the authority to: (a)
interpret the provisions of the Program, and prescribe, amend, and rescind rules
and procedures relating to the Program; (b) grant Awards under the Program, in
such forms and amounts and subject to such terms and conditions as it deems
appropriate, including, without limitation, Awards which are made in combination
with or in tandem with other Awards (whether or not contemporaneously granted)
or compensation or in lieu of current or deferred compensation; (c) subject to
Article 12, modify the terms of, cancel and reissue, or repurchase outstanding
Awards; (d) prescribe the form of agreement, certificate or other instrument
evidencing any Award under the Program; (e) correct any defect or omission and
reconcile any inconsistency in the Program or in any Award hereunder; (f) to
design Awards to satisfy requirements to make such Awards tax-advantaged to
Participants in any jurisdiction or for any other reason that the Company
desires; and (g) make all other determinations and take all other actions as it
deems necessary or desirable for the administration of the Program; provided,
however, that it is the Company's intent that no outstanding Option will be
canceled for the purpose of reissuing such Option to a Participant at a lower
exercise price. The determination of the Committee on matters within its
authority shall be conclusive and binding on the Company and all other persons.
The Committee shall comply with all applicable law in administering the Plan. As
permitted by law (and subject to Section 3.1 herein), the Committee may delegate
its authority as identified herein.

   3.3  Decisions Binding. All determinations and decisions made by the
Committee pursuant to the provisions of the Program and all related orders and
resolutions of the Board shall be final, conclusive and binding on all persons,
including the Company, its stockholders, directors, Employees, Consultants,
Participants, and their estates and beneficiaries.

Article 4. Eligibility and Participation

   4.1  Eligibility. Persons eligible to participate in this Program shall
include all Nonemployee Directors and Consultants.

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   4.2  Actual Participation. Subject to the provisions of the Program, the
Committee may, from time to time, select from all eligible Nonemployee Directors
and Consultants those to whom Awards shall be granted and shall determine the
nature and amount of each Award.

Article 5. Shares Subject to the Program

   5.1  Number of Shares Available for Grants. Subject to adjustment as provided
in Section 5.4 herein, the number of Shares hereby reserved for delivery to
Participants under the Program shall be three hundred thousand (300,000) Shares.
Subject to the restrictions for Nonemployee Directors set forth in Articles 6
and 7, the Committee shall determine the appropriate methodology for calculating
the number of Shares issued pursuant to the Program.

   5.2  Type of Shares. Shares issued under the Program in connection with
Options may be authorized and unissued Shares or issued Shares held as treasury
Shares. Shares issued under the Program in connection with Restricted Stock
shall be issued Shares held as treasury Shares; provided, however, that
authorized and unissued Shares may be issued in connection with Restricted Stock
to the extent that the Committee determines that past services of the
Participant constitute adequate consideration for at least the par value
thereof.

   5.3  Reusage of Shares.

       (a)  General. In the event of the exercise or termination (by reason of
            forfeiture, expiration, cancellation, surrender or otherwise) of any
            Award under the Program, that number of Shares that was subject to
            the Award but not delivered shall again be available as Awards under
            the Program.

       (b)  Restricted Stock. In the event that Shares are delivered under the
            Program as Restricted Stock and are thereafter forfeited or
            reacquired by the Company pursuant to rights reserved upon the grant
            thereof, such forfeited or reacquired Shares shall again be
            available as Awards under the Program.

       (c)  Limitation. Notwithstanding the provisions of Sections 5.3(a) or
            5.3(b) above, the following Shares shall not be available for
            reissuance under the Program: (i) Shares which are withheld from any
            Award or payment under the Program to satisfy tax withholding
            obligations (as described in Section 13.3; (ii) Shares which are
            surrendered to fulfill tax obligations (as described in Section
            13.4; and (iii) Shares which are surrendered in payment of the
            Option Price upon the exercise of an Option.

   5.4  Adjustments in Authorized Shares. In the event of any change in
corporate capitalization, such as a stock split, or a corporate transaction,
such as any merger, consolidation, separation, including a spin-off, or other
distribution of stock or property of the Company, any reorganization (whether or
not such reorganization comes within the definition of such term in Code Section
368) or any partial or complete liquidation of the Company, such adjustment
shall be made in the number and class of Shares which may be delivered under
Section 5.1, in the number and class of and/or price of Shares subject to
outstanding Awards granted under the Program, and in the

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Award limits set forth in Section 5.1, as may be determined to be appropriate
and equitable by the Board, in its sole discretion, to prevent dilution or
enlargement of rights; provided, however, that the number of Shares subject to
any Award shall always be a whole number. In a stock-for-stock acquisition of
the Company, the Committee may, in its sole discretion, substitute securities of
another issuer for any Shares subject to outstanding Awards.

Article 6. Stock Options

   6.1  Grant of Options. Subject to the discretion of the Committee and the
terms and provisions of the Program, during the period beginning January 1, 2001
and ending April 1, 2010, each Nonemployee Director shall receive annually
Options to purchase seven thousand five hundred (7,500) Shares, effective as of
the day following each annual meeting of the Company's shareholders (but subject
to any vesting provisions or other restrictions determined by the Committee).
Aside from the foregoing annual grants, no additional Options shall be granted
to Nonemployee Directors under the Program.

   Subject to the terms and provisions of the Program, Options may be granted to
Consultants in such number, and upon such terms, and at any time and from time
to time as shall be determined by the Committee.

   If all or any portion of the exercise price or taxes incurred in connection
with the exercise are paid by delivery (or, in the case of payment of taxes, by
withholding of Shares) of other Shares of the Company, a Participant's Options
may provide for the grant of replacement Options. All Options under the Program
shall be granted in the form of nonqualified stock options as no Option under
the Program may be granted in the form of an incentive stock options as defined
under the provisions of Code Section 422.

   6.2  Award Agreement. Each Option grant shall be evidenced by an Award
Agreement that shall specify the Option Price, the duration of the Option, the
number of Shares to which the Option pertains, and such other provisions as the
Committee shall determine.

   6.3  Option Price. The Option Price for each grant of an Option under this
Program shall be at least equal to one hundred percent (100%) of the Fair Market
Value of a Share on the date the Option is granted.

   6.4  Duration of Options. Each Option granted to a Participant shall expire
at such time as the Committee shall determine at the time of grant; provided,
however, that no Option shall be exercisable later than the tenth (10th)
anniversary date of its grant.

   6.5  Exercise of Options. Options granted under this Article 6 shall be
exercisable at such times and be subject to such restrictions and conditions as
the Committee shall in each instance approve, which need not be the same for
each grant or for each Participant.

   6.6  Payment. Options granted under this Article 6 shall be exercised by the
delivery of a written notice of exercise to the Company, setting forth the
number of Shares with respect to which the Option is to be exercised,
accompanied by full payment for the Shares.

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   The Option Price upon exercise of any Option shall be payable to the Company
in full either: (a) in cash or its equivalent; or (b) by tendering previously
acquired Shares (by either actual delivery or attestation) having an aggregate
Fair Market Value at the time of exercise equal to the total Option Price
(provided that the Shares which are tendered must have been held by the
Participant for at least six (6) months prior to their tender to satisfy the
Option Price); or (c) by a combination of (a) and (b).

   The Committee also may allow cashless exercise as permitted under Federal
Reserve Board's Regulation T, subject to applicable securities law restrictions,
or by any other means which the Board determines to be consistent with the
Program's purpose and applicable law.

   Subject to any governing rules or regulations, as soon as practicable after
receipt of a written notification of exercise and full payment, the Company
shall deliver to the Participant, in the Participant's name (or, at the
discretion of the Participant, jointly in the names of the Participant and the
Participant's spouse), Share certificates in an appropriate amount based upon
the number of Shares purchased under the Option(s).

   6.7  Restrictions on Share Transferability. The Committee may impose such
restrictions on any Shares acquired pursuant to the exercise of an Option
granted under this Article 6 as it may deem advisable, including, without
limitation, restrictions under applicable federal securities laws, under the
requirements of any stock exchange or market upon which such Shares are then
listed and/or traded, and under any blue sky or state securities laws applicable
to such Shares. Except as otherwise provided in a Participant's Award Agreement,
no Option granted under this Article 6 may be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated, other than by will or by the
laws of descent and distribution. Further, except as otherwise provided in a
Participant's Award Agreement, all Options granted to a Participant under this
Article 6 shall be exercisable during his or her lifetime only by such
Participant.

   6.8  Termination of Directorship or Service. Each Participant's Option Award
Agreement shall set forth the extent to which the Participant shall have the
right to exercise the Option following termination of the Participant's service
to the Company as a Nonemployee Director or Consultant. Such provisions shall be
determined in the sole discretion of the Committee, shall be included in the
Award Agreement entered into with each Participant, need not be uniform among
all Options issued pursuant to this Article 6, and may reflect distinctions
based on the reasons for termination.

   6.9  Nontransferability of Options. Except as otherwise provided in a
Participant's Award Agreement, no Option granted under this Article 6 may be
sold, transferred, pledged, assigned, or otherwise alienated or hypothecated,
other than by will or by the laws of descent and distribution. Further, except
as otherwise provided in a Participant's Award Agreement, all Options granted to
a Participant under this Article 6 shall be exercisable during his or her
lifetime only by such Participant.

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   6.10  Substitution of Cash. Unless otherwise provided in a Participant's
Award Agreement, and notwithstanding any provision in the Program to the
contrary (including but not limited to Section 12.3), in the event of a Change
in Control in which the Company's stockholders holding Shares receive
consideration other than shares of common stock that are registered under
Section 12 of the Exchange Act, the Committee shall have the authority to
require that any outstanding Option be surrendered to the Company by a
Participant for cancellation by the Company, with the Participant receiving in
exchange a cash payment from the Company within ten (10) days of the Change in
Control. Such cash payment shall be equal to the number of Shares under Option,
multiplied by the excess, if any, of the greater of (i) the highest per Share
price offered to stockholders in any transaction whereby the Change in Control
takes place, or (ii) the Fair Market Value of a Share on the date the Change in
Control occurs, over the Option Price.

   6.11  Elective Grants to Nonemployee Directors in Lieu of Annual Retainer.
Subject to the terms and provisions of the Program and any other restrictions
set out by the Committee in its sole discretion, the Committee may permit each
Nonemployee Director to elect to receive all or a portion of his Annual Retainer
in the form of Options to be issued as of the first day of the year for which
such Annual Retainer is payable (the "Conversion Date") and using the Fair
Market Value of a Share as of the Conversion Date as the Option Price of the
Options.

   If deferral elections are permitted by the Committee, each irrevocable
election shall be made in accordance with such rules as the Committee may
determine in its sole discretion. Except as may otherwise be determined by the
Committee, in the event of such an election, the number of Options which an
electing Nonemployee Director shall receive shall be determined by dividing that
portion of the Annual Retainer as to which the election is being made by the
Fair Market Value of a Share on the Conversion Date and multiplying the quotient
by three (3).

   Any portion of a Nonemployee Director's Annual Retainer for which an election
has not been made pursuant to this Section 6.11, shall be paid in cash to such
Nonemployee Director at such time or times as payments thereof are customarily
made by the Company.

Article 7. Restricted Stock

   7.1  Grant of Restricted Stock. Subject to the terms and provisions of the
Program, during the year 2000 only, each Nonemployee Director shall be granted
five thousand (5,000) Shares of Restricted Stock effective as of the later of
(i) April 1, 2000, or (ii) the date of the Nonemployee Director's election to
the Board on or before December 31, 2000.

   Subject to the terms and provisions of the Program, the Committee, at any
time and from time to time, may grant Shares of Restricted Stock to Consultants
in such amounts as the Committee shall determine.

   7.2  Restricted Stock Agreement. Each Restricted Stock grant shall be
evidenced by a Restricted Stock Award Agreement that shall specify the Period(s)
of Restriction, the number of Shares of Restricted Stock granted, and such other
provisions as the Committee shall determine.

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   7.3  Restriction on Transferability. Except as provided in this Article 7,
the Shares of Restricted Stock granted herein may not be sold, transferred,
pledged, assigned, or otherwise alienated or hypothecated until the end of the
applicable Period of Restriction established by the Committee and specified in
the Restricted Stock Award Agreement, or upon earlier satisfaction of any other
conditions, as specified by the Committee in its sole discretion and set forth
in the Restricted Stock Award Agreement. All rights with respect to the
Restricted Stock granted to a Participant under the Program shall be available
during his or her lifetime only to such Participant.

   7.4  Other Restrictions. The Committee shall impose such other conditions
and/or restrictions on any Shares of Restricted Stock granted pursuant to the
Program as it may deem advisable including, without limitation, any or all of
the following:

       (a)  A required period of service with the Company, as determined by the
            Committee, prior to the vesting of Shares of Restricted Stock.

       (b)  A requirement that Participants forfeit (or in the case of Shares
            sold to a Participant, resell to the Company at his or her cost) all
            or a part of Shares of Restricted Stock in the event of termination
            of his or her service as a Nonemployee Director or Consultant during
            the Period of Restriction.

       (c)  A prohibition against such Participants' dissemination of any secret
            or confidential information belonging to the Company, or the
            solicitation by Participants of the Company's Employees for
            employment by another entity.

   Shares of Restricted Stock awarded pursuant to the Program shall be
registered in the name of the Participant and, if such Shares are certificated,
in the sole discretion of the Committee, may be deposited in a bank designated
by the Committee or with the Company. The Committee may require a stock power
endorsed in blank with respect to Shares of Restricted Stock whether or not
certificated.

   Except as otherwise provided in this Article 7, Shares of Restricted Stock
covered by each Restricted Stock grant made under the Program shall become
freely transferable (subject to any restrictions under applicable securities
law) by the Participant after the last day of the applicable Period of
Restriction.

   7.5  Voting Rights. At the Committee's sole discretion, Participants holding
Shares of Restricted Stock granted hereunder may be granted the right to
exercise full voting rights with respect to those Shares during the Period of
Restriction.

   7.6  Dividends and Other Distributions. At the Committee's sole discretion,
during the Period of Restriction, Participants holding Shares of Restricted
Stock granted hereunder may be credited with regular cash dividends paid with
respect to the underlying Shares while they are so held. The Committee may apply
any restrictions to the dividends that the Committee deems appropriate.

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   7.7  Termination of Directorship or Service. Each Restricted Stock Award
Agreement shall set forth the extent to which the Participant shall have the
right to receive unvested Shares of Restricted Stock following termination of
the Participant's service to the Company as a Nonemployee Director or
Consultant. Such provisions shall be determined in the sole discretion of the
Committee, shall be included in the Award Agreement entered into with each
Participant, need not be uniform among all Shares of Restricted Stock issued
pursuant to the Program, and may reflect distinctions based on the reasons for
termination.

Article 8. Beneficiary Designation

   Each Participant under the Program may, from time to time, name any
beneficiary or beneficiaries (who may be named contingently or successively) to
whom any benefit under the Program is to be paid in case of his or her death
before he or she receives any or all of such benefit. Each such designation
shall revoke all prior designations by the same Participant, shall be in a form
prescribed by the Company, and will be effective only when filed by the
Participant in writing with the Company during the Participant's lifetime. In
the absence of any such designation, benefits remaining unpaid at the
Participant's death shall be paid to the Participant's estate.

Article 9. Deferrals

   The Committee may permit or require a Participant to defer such Participant's
receipt of the payment of cash or the delivery of Shares that would otherwise be
due to such Participant by virtue of the exercise of an Option, or the lapse or
waiver of restrictions with respect to Restricted Stock. If any such deferral
election is required or permitted, the Committee shall, in its sole discretion,
establish rules and procedures for such payment deferrals.

Article 10. Rights of Nonemployee Directors and Consultants

   10.1  Directorship or Provision of Services. Nothing in the Program or any
Award Agreement shall interfere with or limit in any way the right of the
Company to terminate at any time any Participant's service to the Company as a
Nonemployee Director or as a Consultant, nor confer upon any Participant any
right to continue in the service of the Company.

   10.2  Participation. No Nonemployee Director or Consultant shall have the
right to be selected to receive an Award under this Program, or, having been so
selected, to be selected to receive a future Award.

Article 11. Change in Control

   11.1  Treatment of Outstanding Awards. Subject to Section 11.3, upon the
occurrence of a Change in Control and notwithstanding the terms of any Award
Agreement, unless otherwise specifically prohibited under applicable laws, or by
the rules and regulations of any governing governmental agencies or national
securities exchanges:

       (a)  Any and all Options granted hereunder shall become immediately
            exercisable, and shall remain exercisable throughout their entire
            term; and

       (b)  Any restriction periods and restrictions imposed on Shares of
            Restricted Stock shall lapse.

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   11.2  Termination, Amendment, and Modifications of Change-in-Control
Provisions. Notwithstanding any other provision of this Program (but subject to
the limitations of Section 11.3 hereof) or any Award Agreement provision, the
provisions of this Article 11 may not be terminated, amended, or modified on or
after the date of a Change in Control to affect adversely any Award theretofore
granted under the Program without the prior written consent of the Participant
with respect to said Participant's outstanding Awards; provided, however, the
Board may terminate, amend, or modify this Article 11 at any time and from time
to time prior to the date of a Change in Control.

   11.3  Pooling of Interests Accounting. Notwithstanding any provision of the
Program or of any Award Agreement to the contrary, in the event that the
consummation of a Change in Control is contingent on using pooling of interests
accounting methodology, the Board may, in its sole discretion, take any action
necessary to preserve the use of pooling of interests accounting.

Article 12. Amendment, Modification, and Termination

   12.1  Amendment, Modification, and Termination. Subject to the terms of the
Program, the Board may at any time and from time to time, alter, amend, suspend
or terminate the Program in whole or in part.

   12.2  Adjustment of Awards Upon the Occurrence of Certain Unusual or
Nonrecurring Events. The Committee may make adjustments in the terms and
conditions of, and the criteria included in, Awards in recognition of unusual or
nonrecurring events (including, without limitation, the events described in
Section 5.4 hereof) affecting the Company or the financial statements of the
Company or of changes in applicable laws, regulations, or accounting principles,
whenever the Committee determines that such adjustments are appropriate in order
to prevent dilution or enlargement of the benefits or potential benefits
intended to be made available under the Program.

   12.3  Awards Previously Granted. Notwithstanding any provision of the Program
or of any Award Agreement to the contrary (but subject to Sections 6.10 and 11.3
hereof), no termination, amendment, or modification of the Program shall
adversely affect in any material way any Award previously granted under the
Program, without the written consent of the Participant holding such Award.

Article 13. Compliance with Applicable Law and Withholding

   13.1  General. The granting of Awards and the issuance of Shares under the
Program shall be subject to all applicable laws, rules, and regulations, and to
such approvals by any governmental agencies or national securities exchanges as
may be required. Notwithstanding anything to the contrary in the Program or any
Award Agreement, the following shall apply:

       (a)  The Company shall have no obligation to issue any Shares under the
            Program if such issuance would violate any applicable law or any
            applicable regulation or requirement of any securities exchange or
            similar entity.

                                       11

<PAGE>

       (b)  Prior to the issuance of any Shares under the Program, the Company
            may require a written statement that the recipient is acquiring the
            Shares for investment and not for the purpose or with the intention
            of distributing the Shares and that the recipient will not dispose
            of them in violation of the registration requirements of the
            Securities Act of 1933.

       (c)  With respect to any Participant who is subject to Section 16(a) of
            the Exchange Act, the Committee may, at any time, add such
            conditions and limitations to Award or payment under the Program or
            implement procedures for the administration of the Program which it
            deems necessary or desirable to comply with the requirements of Rule
            16b-3 of the Exchange Act.

       (d)  If, at any time, the Company, determines that the listing,
            registration, or qualification (or any updating of any such
            document) of any Award, or the Shares issuable pursuant thereto, is
            necessary on any securities exchange or under any federal or state
            securities or blue sky law, or that the consent or approval of any
            governmental regulatory body is necessary or desirable as a
            condition of, or in connection with, any Award, the issuance of
            Shares pursuant to any Award, or the removal of any restrictions
            imposed on Shares subject to an Award, such Award shall not be
            granted and the Shares shall not be issued or such restrictions
            shall not be removed, as the case may be, in whole or in part,
            unless such listing, registration, qualification, consent, or
            approval shall have been effected or obtained free of any conditions
            not acceptable to the Company.

   13.2  Securities Law Compliance. With respect to Insiders, transactions under
this Program are intended to comply with all applicable conditions of Rule 16b-3
or its successors under the 1934 Act. To the extent any provision of the Program
or action by the Committee or the Board fails to so comply, it shall be deemed
null and void, to the extent permitted by law and deemed advisable by the Board.

   13.3  Tax Withholding. The Company shall have the power and the right to
deduct or withhold, or require a Participant to remit to the Company, an amount
sufficient to satisfy federal, state, and local taxes, domestic or foreign,
required by law or regulation to be withheld with respect to any taxable event
arising as a result of this Program.

   13.4  Share Withholding. With respect to withholding required upon any
taxable event arising as a result of Awards payable in Shares granted hereunder,
Participants may elect, subject to the approval of the Committee, to satisfy the
withholding requirement, in whole or in part, by having the Company withhold
Shares to satisfy their tax obligations. With respect to withholding required
upon the exercise of Options, or upon the lapse of restrictions on Shares of
Restricted Stock, Participants may only elect to have Shares withheld having a
Fair Market Value on the date the tax is to be determined equal to the minimum
statutory withholding tax which could be imposed on the transaction. All
elections shall be irrevocable, made in writing, signed by the Participant, and
shall be subject to any restrictions or limitations that the Committee, in its
sole discretion, deems appropriate.

                                       12

<PAGE>

Article 14. Indemnification

   Each person who is or shall have been a member of the Committee, or of the
Board, shall be indemnified and held harmless by the Company against and from
any loss, cost, liability, or expense that may be imposed upon or reasonably
incurred by him or her in connection with or resulting from any claim, action,
suit, or proceeding to which he or she may be a party or in which he or she may
be involved by reason of any action taken or failure to act under the Program
and against and from any and all amounts paid by him or her in settlement
thereof, with the Company's approval, or paid by him or her in satisfaction of
any judgement in any such action, suit, or proceeding against him or her,
provided he or she shall give the Company an opportunity, at its own expense, to
handle and defend the same before he or she undertakes to handle and defend it
on his or her own behalf. The foregoing right of indemnification shall not be
exclusive of any other rights of indemnification to which such persons may be
entitled under the Company's Articles of Incorporation or Bylaws, as a matter of
law, or otherwise, or any power that the Company may have to indemnify them or
hold them harmless.

Article 15. Successors

   All obligations of the Company under the Program with respect to Awards
granted hereunder shall be binding on any successor to the Company, whether the
existence of such successor is the result of a direct or indirect purchase,
merger, consolidation, or otherwise, of all or substantially all of the business
and/or assets of the Company.

Article 16. Legal Construction

   16.1  Gender and Number. Except where otherwise indicated by the context, any
masculine term used herein also shall include the feminine; the plural shall
include the singular and the singular shall include the plural.

   16.2  Severability. In the event any provision of the Program shall be held
illegal or invalid for any reason, the illegality or invalidity shall not affect
the remaining parts of the Program, and the Program shall be construed and
enforced as if the illegal or invalid provision had not been included.

   16.3  Governing Law. To the extent not preempted by federal law, the Program,
and all Award or other agreements hereunder, shall be construed in accordance
with and governed by the laws of the state of Delaware without giving effect to
principles of conflicts of laws.

                                       13<PAGE>

                                                                   Exhibit 10.15

                        Edwards Lifesciences Corporation
                          Employee Stock Purchase Plan
                          For International Employees

                           (Effective April 1, 2000)

<PAGE>

                        Edwards Lifesciences Corpration
                          Employee Stock Purchase Plan
                          For International Employees

                           (Effective April 1, 2000)

                               ARTICLE I-PURPOSE

1.01.  Purpose

The Edwards Lifesciences Corporation Employee Stock Purchase Plan for
International Employees is intended to provide a method whereby certain
employees of Edwards Lifesciences Corporation and its participating subsidiary
corporations (hereinafter referred to, unless the context otherwise requires, as
the "Company") will have an opportunity to acquire a proprietary interest in the
Company through the purchase of shares of the Common Stock of the Company
("Stock").

                             ARTICLE II-DEFINITIONS

2.01.  Base Pay

"Base Pay" shall mean regular straight-time earnings plus commissions (where
legally permissible and administratively feasible) and payments in lieu of
regular earnings and any legally mandated bonus or other pay.  In the case of a
part-time hourly employee, such employee's base pay during an Offering shall be
determined by multiplying such employee's hourly rate of pay by the number of
regularly scheduled hours of work for such employee during such Offering.

2.02.  Committee

"Committee" shall mean the individuals appointed by the Company to administer
the Plan as described in Article IX.

2.03.  Conversion Rate

"Conversion Rate" shall mean with respect to any non-U.S. currency, the rate
established by the Company's Corporate Treasury Department for purposes of
converting such currency to United States dollars.

2.04.  Eligible Employee

"Eligible Employee" means any regular employee of the Company or a participating
subsidiary who is not paid from the United States payroll and is scheduled to
work 20 or more hours per
<PAGE>

week. Eligible Employee shall also mean any other employee of a participating
subsidiary to the extent that local law requires the plan to be extended to such
employee. The Committee shall designate the subsidiaries that shall be eligible
to participate in the Plan.

2.05.  Enrollment Period

"Enrollment Period" shall mean with respect to any Offering, the period
designated by the Committee prior to such Offering during which Eligible
Employees may authorize payroll deductions through a Subscription.  Unless the
Committee determines otherwise, the Enrollment Period with respect to any
Offering shall end on the fifteenth day of the month immediately preceding the
Offering Commencement Date or, if such day is not a business day, the
immediately preceding business day, and any Subscription received after such
date shall be deemed to be an enrollment in the next following Offering.
However, the initial Enrollment Period shall end on the twenty-seventh day of
the month immediately preceding the initial Offering Commencement Date, and any
Subscription received after such date shall be deemed to be an enrollment in the
next following Offering.

2.06.  Offering Commencement Date

"Offering Commencement Date" shall mean April 3, 2000 and, unless determined
otherwise by the Committee, the first day of each calendar quarter thereafter.

2.07.  Offering

"Offering" shall mean the quarterly offering of the Company's Stock.

2.08.  Offering End Date

"Offering End Date" shall mean, with respect to each Offering, the day preceding
the second annual anniversary of the Offering Commencement Date for such
Offering.

2.09.  Participant

"Participant" shall mean an Eligible Employee who has elected to participate in
an Offering by entering a Subscription during the Enrollment Period for such
Offering.

2.10.  Plan

"Plan" shall mean the Edwards Lifesciences Corporation Employee Stock Purchase
Plan for International Employees, as amended from time to time.

2.11.  Purchase Date

"Purchase Date" shall mean with respect to any Offering, the last day of each
calendar quarter during the period beginning with the Offering Commencement Date
for such Offering and

                                       2
<PAGE>

ending with the Offering End Date; provided, however, if any such day is not a
business day on which trading occurs, the Purchase Date shall be the next
preceding business date on which shares of Stock are traded.

2.12.  Subscription

"Subscription" shall mean an Eligible Employee's authorization for payroll
deductions made in the form and manner specified by the Committee (which may
include enrollment by submitting forms, by voice response, internet access or
other electronic means).  Unless withdrawn earlier in accordance with Section
6.02, each Subscription shall be in effect for 24 months.  No more than one
Subscription may be in effect for an Eligible Employee during any calendar
quarter.

2.13.  Subsidiary Corporation

"Subsidiary Corporation" shall mean any present or future corporation which
would be a "subsidiary corporation" of the Company as that term is defined in
Section 424 of the  U.S. Internal Revenue Code.

                   ARTICLE III-ELIGIBILITY AND PARTICIPATION

3.01.  Initial Eligibility

Any individual who is an Eligible Employee on an Offering Commencement Date
shall be eligible to participate in the Offering commencing on such date,
subject to the terms and conditions of the Plan.

3.02.  Leave of Absence

For purposes of participation in the Plan, a Participant on a leave of absence
shall be deemed to be an employee for a period of up to 90 days or, if longer,
during the period the Participant's right to reemployment is guaranteed by
statute or contract.  If the leave of absence is paid, deductions authorized
under any Subscription in effect at the time the leave began will continue.  If
the leave of absence is unpaid, no deductions or contributions will be permitted
during the leave.  If such a Participant returns to active status within 90 days
or the guaranteed reemployment period, as applicable, payroll deductions under
the Subscription in effect at the time the leave began will automatically begin
again upon the Participant's return to active status unless the Subscription
period has expired.  If the Participant does not return to active status within
90 days or the guaranteed reemployment period, as applicable, the Participant
shall be treated as having terminated employment for all purposes of the Plan.
If such individual later returns to active employment as an Eligible Employee,
such individual will be treated as a new employee and will be eligible to
participate in Offerings commencing after his or her reemployment date by filing
a Subscription during the applicable Enrollment Period for such Offering.

                                       3
<PAGE>

3.03.  Restrictions on Participation

Notwithstanding any provisions of the Plan to the contrary, no Eligible Employee
shall be granted an option to participate in the Plan which permits the
employee's rights to purchase stock under all employee stock purchase plans of
the Company to accrue at a rate which exceeds $25,000 in fair market value of
the stock (determined at the time such option is granted) for each calendar year
in which such option is outstanding.

3.04.  Commencement of Participation

An Eligible Employee may become a Participant in any Offering by entering a
Subscription during the Enrollment Period for such Offering. Payroll deductions
for such Offering shall commence on the applicable Offering Commencement Date
and shall end on the applicable Offering End Date unless withdrawn by the
Participant or sooner terminated in accordance with Article VII.  Only one
Subscription may be in effect with respect to any Participant at any one time.

3.05.  Participation After Rehire

An Eligible Employee's Subscription will automatically terminate on his or her
termination of employment with the Company.  If the Eligible Employee terminates
employment with a Subscription in effect with respect to an Offering and is
rehired prior to the Offering End Date for that Offering, the Subscription will
not be reinstated and the Eligible Employee will not be allowed to again make
payroll deductions under such Offering.  The Eligible Employee may elect to
participate in Offerings commencing after his or her reemployment date by
entering a Subscription during the applicable Enrollment Period for such
Offering.

3.06.  United States Employees/United States Transfers

Eligible Employees who transfer outside of the United States and are placed on a
non-U.S. payroll may not participate in Offerings which had an Offering
Commencement Date prior to such transfer, regardless of whether such Eligible
Employee was participating in an offering under a stock purchase plan for United
States employees prior to the transfer.  Such Eligible Employee may participate
in Offerings commencing after such transfer, by entering a Subscription during
the applicable Enrollment Period for such Offering.

A Participant who transfers to the United States and is placed on the U.S.
payroll will be treated as a terminated Participant under this Plan.  Such
Participant shall have the right to elect, in such form as the Committee may
require, prior to the earlier of (i) the three month anniversary of such
transfer date, or (ii) the Offering End Date, to buy out the remaining shares in
his or her Subscription.  For purposes of the Plan, Puerto Rico is not
considered U.S. payroll.

                                       4
<PAGE>

                              ARTICLE IV-OFFERINGS

4.01. Quarterly Offerings

The Plan will be implemented by Offerings beginning on April 3, 2000 and, unless
determined otherwise by the Committee, on the first day of each calendar quarter
thereafter. Eligible Employees may not have in effect more than one Subscription
at a time.

Participants may subscribe to any Offering by entering a Subscription during the
Enrollment Period for such Offering in such manner as the Committee may
prescribe (which may include enrollment by submitting forms, by voice response,
internet access or other electronic means).

A Subscription that is in effect on an Offering End Date will automatically be
deemed to be a Subscription for the Offering that commences immediately
following such Offering End Date, provided that the Participant is still an
Eligible Employee and has not withdrawn the Subscription. Under the foregoing
automatic enrollment provisions, payroll deductions will continue at the level
in effect immediately prior to the new Offering Commencement Date, unless
changed in advance by the Participant in accordance with Section 5.03.

4.02.  Purchase Price

The purchase price per share of Stock under each Offering shall be the lower of:

     (a)  85% of the closing price of the Stock on the Offering Commencement
          Date or the nearest preceding business day on which trading occurred
          on the New York Stock Exchange; or

     (b)  85% of the closing price of the Stock on the Purchase Date or the
          nearest prior business day on which trading occurred on the New York
          Stock Exchange. If the Common Stock of the Company is not admitted to
          trading on any of the aforesaid dates for which closing prices of the
          stock are to be determined, then reference shall be made to the next
          preceding date on which Common Stock was so admitted.

Such purchase price may only be paid with accumulated payroll deductions in
accordance with Article V. For purposes of the initial Offering, "the closing
price" shall be replaced by "the average of the opening price and closing price"
in 4.02(a), above.

                                       5
<PAGE>

                          ARTICLE V-PAYROLL DEDUCTIONS

5.01.  Amount of Deduction

An Eligible Employee's Subscription shall authorize payroll deductions at a
rate, in whole percentages, of no less than 1% and no more than 12% of Base Pay
on each payday that the Subscription is in effect.

5.02.  Participant's Account

All payroll deductions made with respect to a Participant shall be credited to
his or her recordkeeping account under the Plan.  A Participant may not make any
separate cash payment into such account.  No interest will accrue or be paid on
any amount withheld from a Participant's pay under the Plan or credited to the
Participant's account.  Except as otherwise provided in this Section 5.02, all
amounts in a Participant's account will be used to purchase Stock and no cash
refunds shall be made from such account.  Any amounts remaining in a
Participant's account pursuant to the Participant's Subscription election or
because of the limitations of Section 3.03 shall be returned to the Participant
without interest and will not be used to purchase shares with respect to any
other Offering under the Plan.

5.03.  Changes in Payroll Deductions

During an Offering period, a Participant may change his or her level of payroll
deduction with respect to such Offering within the limits described in Section
5.01 in accordance with procedures established by the Committee (including,
without limitation, rules relating to the frequency of such changes); provided,
however, if the Participant reduces his or her payroll deductions to zero, it
shall be deemed to be a withdrawal of the Subscription and the Participant may
not thereafter participate in such Offering but must wait until the next
quarterly Offering to resubscribe to the Plan.  Any such discontinuance or
change in level shall be effective as soon as administratively practicable.

                         ARTICLE VI-EXERCISE OF OPTION

6.01.  Automatic Exercise

A Participant's option for the purchase of Stock with respect to any Offering
will be automatically exercised on each Purchase Date for the Offering.  The
option will be exercised by using the accumulated payroll deductions in the
Participant's account as of each such Purchase Date to purchase the number of
full and fractional shares of Stock that may be purchased at the purchase price
on such date, determined in accordance with Section 4.02.  If the Participant is

                                       6
<PAGE>

paid in a non-U.S. currency, the Participant's accumulated payroll deductions
shall be converted into U.S. dollars using the Conversion Rate in effect on the
Purchase Date.

6.02.  Withdrawal From Offering

A Participant may not withdraw the accumulated payroll deductions in his or her
account during an Offering period.  If the Participant withdraws his or her
Subscription with respect to any Offering, the accumulated payroll deductions in
the Participant's account at the time the Subscription is withdrawn will be used
to purchase shares of Stock at the next Purchase Date for the Offering to which
the Subscription related, in accordance with Section 6.01.

6.03  Delivery of Stock

Stock purchases under the Plan will be held in an account in the Participant's
name in uncertificated form unless certification is requested by the
Participant.

                            ARTICLE VII-WITHDRAWAL

7.01.  Effect on Subsequent Participation

A Participant's election to withdraw from any Offering will not have any effect
upon the Participant's eligibility to participate in any succeeding Offering or
in any similar plan which may hereafter be adopted by the Company.

7.02.  Termination of Employment

Subject to the following provisions of this Section 7.02, upon termination of
the Participant's employment for any reason, any Subscription then in effect
will be deemed to have been withdrawn and any payroll deductions credited to the
Participant's account will be used to purchase Stock on the next Purchase Date
for the Offering with respect to which such deductions relate.  Notwithstanding
the foregoing, if the Participant has a Subscription in effect on the
Participant's termination of employment, payroll deductions (at the rate in
effect on the termination date) shall continue to be made from Base Pay earned
prior to termination of employment, if any, that is paid to the Participant
after such termination of employment and before the earlier of (i) the three-
month anniversary of such termination of employment, or (ii) the Offering End
Date of such Offering.  Any such payroll deduction shall be used to purchase
Stock on the next Purchase Date for the Offering after the deduction is made.

                                       7
<PAGE>

                               ARTICLE VIII-STOCK

8.01.  Maximum Shares

The maximum number of shares which may be issued under the Plan, subject to
adjustment upon changes in capitalization of the Company as provided in Section
10.04, shall be 10,000,000 shares. If the total number of shares for which
options are exercised on any Purchase Date in accordance with Article IV exceeds
the maximum number of shares for the applicable Offering, the Company shall make
a pro rata allocation of the shares available for delivery and distribution in
as nearly a uniform manner as shall be practicable and as it shall determine to
be equitable, and the balance of payroll deductions credited to the account of
each Participant under the Plan shall be returned to him as promptly as
possible.

8.02.  Participant's Interest in Option Stock

The Participant will have no interest in Stock covered by an option under the
Plan until such option has been exercised.

8.03.  Registration of Stock

Stock to be delivered to a Participant under the Plan will be registered in the
name of the Participant.

                           ARTICLE IX-ADMINISTRATION

9.01.  Appointment of Committee

The Board of Directors shall appoint a Committee to administer the Plan. No
member of the Committee who is not an Eligible Employee shall be eligible to
purchase Stock under the Plan.

9.02.  Authority of Committee

Subject to the express provisions of the Plan, the Committee shall have plenary
authority in its discretion to interpret and construe any and all provisions of
the Plan, to adopt rules and regulations for administering the Plan, and to make
all other determinations deemed necessary or advisable for administering the
Plan. The Committee's determination on the foregoing matters shall be
conclusive.  The Committee shall also have the authority to determine whether
the employees of divisions or subsidiaries of the Company organized or acquired
after the Effective Date shall be eligible for participation in the Plan.

                                       8
<PAGE>

9.03.  Rules Governing the Administration of the Committee

The Board of Directors may from time to time appoint members of the Committee in
substitution for or in addition to members previously appointed and may fill
vacancies, however caused, in the Committee. The Committee may select one of its
members as its Chairman and shall hold its meetings at such times and places as
it shall deem advisable and may hold telephonic meetings. A majority of its
members shall constitute a quorum. All determinations of the Committee shall be
made by a majority of its members. The Committee may correct any defect or
omission or reconcile any inconsistency in the Plan, in the manner and to the
extent it shall deem desirable. Any decision or determination reduced to writing
and signed by a majority of the members of the Committee shall be as fully
effective as if it had been made by a majority vote at a meeting duly called and
held. The Committee may appoint a secretary and shall make such rules and
regulations for the conduct of its business as it shall deem advisable.

9.04.  Statements

Each Participant shall receive a statement of his account showing the number of
shares of Stock held and the amount of cash credited to such account.  Such
statements will be provided as soon as administratively feasible following the
end of each calendar quarter.

                            ARTICLE X-MISCELLANEOUS

10.01.  Transferability

Neither payroll deductions credited to a Participant's account nor any rights
with regard to the exercise of an option or to receive Stock under the Plan may
be assigned, transferred, pledged, or otherwise disposed of in any way by the
Participant other than by will or the laws of descent and distribution. Any such
attempted assignment, transfer, pledge or other disposition shall be without
effect.  During a Participant's lifetime, options held by such Participant shall
be exercisable only by that Participant.

10.02.  Use of Funds

All payroll deductions received or held by the Company under this Plan may be
used by the Company for any corporate purpose and the Company shall not be
obligated to segregate such payroll deductions; provided, however, such amounts
shall be held in trust or otherwise segregated from the Company's general assets
to the extent required under local law.

10.03.  Adjustment Upon Changes in Capitalization

In the event of a stock split, stock dividend, recapitalization,
reclassification or combination of shares, merger, sale of assets or similar
event, the Committee shall adjust equitably (a) the number and class of shares
or other securities that are reserved for sale under the Plan, (b) the

                                       9
<PAGE>

number and class of shares or other securities that are subject to outstanding
options, and (c) the appropriate market value and other price determinations
applicable to options. The Committee shall make all determinations under this
Section 10.03, and all such determinations shall be conclusive and binding.

10.04.  Amendment and Termination

The Board of Directors shall have complete power and authority to terminate or
amend the Plan; provided, however, that the Board of Directors shall not,
without the approval of the stockholders of the Company (i) increase the maximum
number of shares which may be issued under any Offering (except pursuant to
Section 10.03); (ii) amend the requirements as to the class of employees
eligible to purchase stock under the Plan; or (iii) permit the members of the
Committee to purchase stock under the Plan.

Upon termination, any cash remaining in Participant accounts will be applied to
the purchase of Stock.  For purposes of valuing the Stock, the closing price of
the Stock on the New York Stock Exchange on the most recent preceding trading
day will determine the purchase price.  At the discretion of the Board of
Directors, Participants will be permitted to exercise their options for any
unpurchased shares by either requiring direct payment from the Participants,
cashless exercise or any other arrangement deemed appropriate by the Board of
Directors.

10.05.  Effective Date

This Plan shall be effective as of April 1, 2000.

10.06.  No Employment Rights

The Plan does not, directly or indirectly, create any right for the benefit of
any employee or class of employees to purchase any shares under the Plan, or
create in any employee or class of employees any right with respect to
continuation of employment by the Company, and it shall not be deemed to
interfere in any way with the Company's right to terminate, or otherwise modify,
an employee's employment at any time.

10.07.  Effect of Plan

The provisions of the Plan shall, in accordance with its terms, be binding upon,
and inure to the benefit of, all successors of each employee participating in
the Plan, including, without limitation, such employee's estate and the
executors, administrators or trustees thereof, heirs and legatees, and any
receiver, trustee in bankruptcy or representative of creditors of such employee.

                                       10
<PAGE>

10.08.  Governing Law

The law of the State of California will govern all matters relating to this Plan
except to the extent it is superseded by the laws of the United States.

IN WITNESS WHEREOF, the company has caused this instrument to be executed on the
___ day of _________________, 2000.

                                       EDWARDS LIFESCIENCES CORPORATION

                                       By:__________________________________

                                       Its:_________________________________

                                       11

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