Document:

EXHIBIT 4.2

                              Prime Cellular, Inc.

                          2000 Performance Equity Plan

Section 1.        Purpose; Definitions.

         1.1 Purpose. The purpose of the Prime Cellular, Inc. ("Company") 2000
Performance Equity Plan ("Plan") is to enable the Company to offer to its key
employees, officers, directors and consultants whose past, present and/or
potential contributions to the Company and its Subsidiaries have been, are or
will be important to the success of the Company, an opportunity to acquire a
proprietary interest in the Company. The various types of long-term incentive
awards that may be provided under the Plan will enable the Company to respond to
changes in compensation practices, tax laws, accounting regulations and the size
and diversity of its businesses.

          1.2 Definitions. For purposes of the Plan, the following terms shall
be defined as set forth below:

               (a) "Agreement" means the agreement between the Company and the
Holder setting forth the terms and conditions of an award under the Plan.

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

               (c) "Code" means the Internal Revenue Code of 1986, as amended
from time to time, and any successor thereto and the regulations promulgated
thereunder.

               (d) "Committee" means the Stock Option Committee of the Board
or any other committee of the Board that the Board may designate to administer
the Plan or any portion thereof. If no Committee is so designated, then all
references in this Plan to "Committee" shall mean the Board.

               (e) "Common Stock" means the Common Stock of the Company, par
value $.01 per share.

               (f) "Company" means Prime Cellular, Inc., a corporation organized
under the laws of the State of Delaware.

                  (g) "Deferred Stock" means Common Stock to be received, under
an award made pursuant to Section 8, below, at the end of a specified deferral
period.

               (h) "Disability" means disability as determined under procedures
established by the Committee for purposes of the Plan.

               (i) "Effective Date" means the date set forth in Section 12.1,
below.

               (j) "Fair Market Value", unless otherwise required by any
applicable provision of the Code or any regulations issued thereunder, means, as

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of any given date: (i) if the Common Stock is listed on a national securities
exchange or quoted on the Nasdaq National Market or Nasdaq SmallCap Market, the
last sale price of the Common Stock in the principal trading market for the
Common Stock on such date, as reported by the exchange or Nasdaq, as the case
may be; (ii) if the Common Stock is not listed on a national securities exchange
or quoted on the Nasdaq National Market or Nasdaq SmallCap Market, but is traded
in the over-the-counter market, the closing bid price for the Common Stock on
such date, as reported by the OTC Bulletin Board or the National Quotation
Bureau, Incorporated or similar publisher of such quotations; and (iii) if the
fair market value of the Common Stock cannot be determined pursuant to clause
(i) or (ii) above, such price as the Committee shall determine, in good faith.

               (k) "Holder" means a person who has received an award under the
Plan.

               (l) "Incentive Stock Option" means any Stock Option intended
to be and designated as an "incentive stock option" within the meaning of
Section 422 of the Code.

               (m) "Nonqualified Stock Option" means any Stock Option that is
not an Incentive Stock Option.

               (n) "Normal Retirement" means retirement from active employment
with the Company or any Subsidiary on or after age 65.

               (o) "Other Stock-Based Award" means an award under Section 9,
below, that is valued in whole or in part by reference to, or is otherwise based
upon, Common Stock.

               (p) "Parent" means any present or future parent corporation of
the Company, as such term is defined in Section 424(e) of the Code.

               (q) "Plan" means the Prime Cellular, Inc. 2000 Performance Equity
Plan, as hereinafter amended from time to time.

               (r) "Restricted Stock" means Common Stock, received under an
award made pursuant to Section 7, below, that is subject to restrictions under
said Section 7.

               (s) "SAR Value" means the excess of the Fair Market Value (on
the exercise date) over the exercise price that the participant would have
otherwise had to pay to exercise the related Stock Option, multiplied by the
number of shares for which the Stock Appreciation Right is exercised.

               (t) "Stock Appreciation Right" means the right to receive from
the Company, on surrender of all or part of the related Stock Option, without a
cash payment to the Company, a number of shares of Common Stock equal to the SAR
Value divided by the Fair Market Value (on the exercise date).

               (u) "Stock Option" or "Option" means any option to purchase
shares of Common Stock which is granted pursuant to the Plan.

               (v) "Stock Reload Option" means any option granted under
Section 5.3, below, as a result of the payment of the exercise price of a Stock

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Option and/or the withholding tax related thereto in the form of Common Stock
owned by the Holder or the withholding of Common Stock by the Company.

               (w) "Subsidiary" means any present or future subsidiary
corporation of the Company, as such term is defined in Section 424(f) of the
Code.

Section 2.   Administration.

         2.1 Committee Membership. The Plan shall be administered by the Board
or a Committee. Committee members shall serve for such term as the Board may in
each case determine, and shall be subject to removal at any time by the Board.
The Committee members, to the extent possible and deemed to be appropriate by
the Board, shall be "non-employee directors" as defined in Rule 16b-3
promulgated under the Securities Exchange Act of 1934, as amended ("Exchange
Act"), and "outside directors" within the meaning of Section 162(m) of the Code.

         2.2 Powers of Committee. The Committee shall have full authority to
award, pursuant to the terms of the Plan: (i) Stock Options, (ii) Stock
Appreciation Rights, (iii) Restricted Stock, (iv) Deferred Stock, (v) Stock
Reload Options and/or (vi) Other Stock-Based Awards. For purposes of
illustration and not of limitation, the Committee shall have the authority
(subject to the express provisions of this Plan):

                  (a) to select the officers, key employees, directors and
consultants of the Company or any Subsidiary to whom Stock Options, Stock
Appreciation Rights, Restricted Stock, Deferred Stock, Reload Stock Options
and/or Other Stock-Based Awards may from time to time be awarded hereunder.

                  (b) to determine the terms and conditions, not inconsistent
with the terms of the Plan, of any award granted hereunder (including, but not
limited to, number of shares, share price or other consideration, such as other
securities of the Company or other property, any restrictions or limitations,
and any vesting, exchange, surrender, cancellation, acceleration, termination,
exercise or forfeiture provisions, as the Committee shall determine);

                  (c) to determine any specified performance goals or such other
factors or criteria which need to be attained for the vesting of an award
granted hereunder;

                  (d) to determine the terms and conditions under which awards
granted hereunder are to operate on a tandem basis and/or in conjunction with or
apart from other equity awarded under this Plan and cash awards made by the
Company or any Subsidiary outside of this Plan;

                  (e) to permit a Holder to elect to defer a payment under the
Plan under such rules and procedures as the Committee may establish, including
the crediting of interest on deferred amounts denominated in cash and of
dividend equivalents on deferred amounts denominated in Common Stock;

                  (f) to determine the extent and circumstances under which
Common Stock and other amounts payable with respect to an award hereunder shall
be deferred that may be either automatic or at the election of the Holder; and

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                  (g) to substitute (i) new Stock Options for previously granted
Stock Options, which previously granted Stock Options have higher option
exercise prices and/or contain other less favorable terms, and (ii) new awards
of any other type for previously granted awards of the same type, which
previously granted awards are upon less favorable terms.

                  Notwithstanding anything contained herein to the contrary, the
Committee shall not grant to any one Holder in any one calendar year awards for
more than 200,000 shares in the aggregate.

         2.3      Interpretation of Plan.

                  (a) Committee Authority. Subject to Section 11, below, the
Committee shall have the authority to adopt, alter and repeal such
administrative rules, guidelines and practices governing the Plan as it shall,
from time to time, deem advisable, to interpret the terms and provisions of the
Plan and any award issued under the Plan (and to determine the form and
substance of all Agreements relating thereto), and to otherwise supervise the
administration of the Plan. Subject to Section 11, below, all decisions made by
the Committee pursuant to the provisions of the Plan shall be made in the
Committee's sole discretion and shall be final and binding upon all persons,
including the Company, its Subsidiaries and Holders.

                  (b) Incentive Stock Options. Anything in the Plan to the
contrary notwithstanding, no term or provision of the Plan relating to Incentive
Stock Options (including but limited to Stock Reload Options or Stock
Appreciation rights granted in conjunction with an Incentive Stock Option) or
any Agreement providing for Incentive Stock Options shall be interpreted,
amended or altered, nor shall any discretion or authority granted under the Plan
be so exercised, so as to disqualify the Plan under Section 422 of the Code, or,
without the consent of the Holder(s) affected, to disqualify any Incentive Stock
Option under such Section 422.

Section 3.       Stock Subject to Plan.

         3.1     Number of Shares. The total number of shares of Common Stock
reserved and available for distribution under the Plan shall be 2,000,000
shares. Shares of Common Stock under the Plan may consist, in whole or in part,
of authorized and unissued shares or treasury shares. If any shares of Common
Stock that have been granted pursuant to a Stock Option cease to be subject to a
Stock Option, or if any shares of Common Stock that are subject to any Stock
Appreciation Right, Restricted Stock, Deferred Stock award, Reload Stock Option
or Other Stock-Based Award granted hereunder are forfeited or any such award
otherwise terminates without a payment being made to the Holder in the form of
Common Stock, such shares shall again be available for distribution in
connection with future grants and awards under the Plan. Only net shares issued
upon a stock-for-stock exercise (including Common Stock used for withholding
taxes) shall be counted against the number of shares available under the Plan.

         3.2     Adjustment Upon Changes in Capitalization, Etc. In the event of
any change in the shares of Common Stock of the Company as a whole occurring as
the result of a stock split, reverse stock split, stock dividend payable on
shares of Common Stock, combination or exchange of shares, or other
extraordinary or unusual event occurring after the grant of an Award, the
Committee shall determine, in its sole discretion, whether such change equitably
requires an adjustment in the terms of any Award or the aggregate number of

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shares reserved for issuance under the Plan. Any such adjustments will be made
by the Committee, whose determination will be final, binding and conclusive.

Section 4.        Eligibility.

                  Awards may be made or granted to key employees, officers,
directors and consultants who are deemed to have rendered or to be able to
render significant services to the Company or its Subsidiaries and who are
deemed to have contributed or to have the potential to contribute to the success
of the Company. No Incentive Stock Option shall be granted to any person who is
not an employee of the Company or a Subsidiary at the time of grant.

Section 5.        Stock Options.

         5.1      Grant and Exercise. Stock Options granted under the Plan may
be of two types: (i) Incentive Stock Options and (ii) Nonqualified Stock
Options. Any Stock Option granted under the Plan shall contain such terms, not
inconsistent with this Plan, or with respect to Incentive Stock Options, not
inconsistent with the Plan and the Code, as the Committee may from time to time
approve. The Committee shall have the authority to grant Incentive Stock
Options, Non-Qualified Stock Options, or both types of Stock Options and that
may be granted alone or in addition to other awards granted under the Plan. To
the extent that any Stock Option intended to qualify as an Incentive Stock
Option does not so qualify, it shall constitute a separate Nonqualified Stock
Option.

         5.2      Terms and Conditions.  Stock Options granted under the Plan
shall be subject to the following terms and conditions:

                  (a) Option Term. The term of each Stock Option shall be fixed
by the Committee; provided, however, that an Incentive Stock Option may be
granted only within the ten-year period commencing from the Effective Date and
may only be exercised within ten years of the date of grant (or five years in
the case of an Incentive Stock Option granted to an optionee ("10% Stockholder")
who, at the time of grant, owns Common Stock possessing more than 10% of the
total combined voting power of all classes of stock of the Company.

                  (b) Exercise Price. The exercise price per share of Common
Stock purchasable under a Stock Option shall be determined by the Committee at
the time of grant and may not be less than 100% of the Fair Market Value on the
day of grant; provided, however, that the exercise price of an Incentive Stock
Option granted to a 10% Stockholder shall not be less than 110% of the Fair
Market Value on the date of grant.

                  (c) Exercisability. Stock Options shall be exercisable at such
time or times and subject to such terms and conditions as shall be determined by
the Committee and as set forth in Section 10, below. If the Committee provides,
in its discretion, that any Stock Option is exercisable only in installments,
i.e., that it vests over time, the Committee may waive such installment exercise
provisions at any time at or after the time of grant in whole or in part, based
upon such factors as the Committee shall determine.

                  (d) Method of Exercise.  Subject to whatever installment,
exercise and waiting period provisions are applicable in a particular case,

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Stock Options may be exercised in whole or in part at any time during the term
of the Option, by giving written notice of exercise to the Company specifying
the number of shares of Common Stock to be purchased. Such notice shall be
accompanied by payment in full of the purchase price, which shall be in cash or,
if provided in the Agreement, either in shares of Common Stock (including
Restricted Stock and other contingent awards under this Plan) or partly in cash
and partly in such Common Stock, or such other means which the Committee
determines are consistent with the Plan's purpose and applicable law. Cash
payments shall be made by wire transfer, certified or bank check or personal
check, in each case payable to the order of the Company; provided, however, that
the Company shall not be required to deliver certificates for shares of Common
Stock with respect to which an Option is exercised until the Company has
confirmed the receipt of good and available funds in payment of the purchase
price thereof. Payments in the form of Common Stock shall be valued at the Fair
Market Value on the date prior to the date of exercise. Such payments shall be
made by delivery of stock certificates in negotiable form that are effective to
transfer good and valid title thereto to the Company, free of any liens or
encumbrances. Subject to the terms of the Agreement, the Committee may, in its
sole discretion, at the request of the Holder, deliver upon the exercise of a
Nonqualified Stock Option a combination of shares of Deferred Stock and Common
Stock; provided that, notwithstanding the provisions of Section 8 of the Plan,
such Deferred Stock shall be fully vested and not subject to forfeiture. A
Holder shall have none of the rights of a Stockholder with respect to the shares
subject to the Option until such shares shall be transferred to the Holder upon
the exercise of the Option.

                  (e) Transferability. Except as may be set forth in the
Agreement, no Stock Option shall be transferable by the Holder other than by
will or by the laws of descent and distribution, and all Stock Options shall be
exercisable, during the Holder's lifetime, only by the Holder (or in the event
of legal incapacity or incompetency, the Holder's guardian or legal
representative).

                  (f) Termination by Reason of Death. If a Holder's employment
by the Company or a Subsidiary terminates by reason of death, any Stock Option
held by such Holder, unless otherwise determined by the Committee at the time of
grant and set forth in the Agreement, shall thereupon automatically terminate,
except that the portion of such Stock Option that has vested on the date of
death may thereafter be exercised by the legal representative of the estate or
by the legatee of the Holder under the will of the Holder, for a period of one
year (or such other greater or lesser period as the Committee may specify at
grant) from the date of such death or until the expiration of the stated term of
such Stock Option, whichever period is the shorter.

                  (g) Termination by Reason of Disability. If a Holder's
employment by the Company or any Subsidiary terminates by reason of Disability,
any Stock Option held by such Holder, unless otherwise determined by the
Committee at the time of grant and set forth in the Agreement, shall thereupon
automatically terminate, except that the portion of such Stock Option that has
vested on the date of termination may thereafter be exercised by the Holder for
a period of one year (or such other greater or lesser period as the Committee
may specify at the time of grant) from the date of such termination of
employment or until the expiration of the stated term of such Stock Option,
whichever period is the shorter.

                  (h) Other Termination. Subject to the provisions of Section
13.3, below, and unless otherwise determined by the Committee at the time of
grant and set forth in the Agreement, if a Holder is an employee of the Company
or a Subsidiary at the time of grant and if such Holder's employment by the
Company or any Subsidiary terminates for any reason other than death or
Disability, the Stock Option shall thereupon automatically terminate, except

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that if the Holder's employment is terminated by the Company or a Subsidiary
without cause or due to Normal Retirement, then the portion of such Stock Option
which has vested on the date of termination of employment may be exercised for
the lesser of three months after termination of employment or the balance of
such Stock Option's term.

                  (i) Additional Incentive Stock Option Limitation. In the case
of an Incentive Stock Option, the aggregate Fair Market Value (on the date of
grant of the Option) with respect to which Incentive Stock Options become
exercisable by a Holder during any calendar year (under all such plans of the
Company and its Parent and Subsidiary) shall not exceed $100,000.

                  (j) Buyout and Settlement Provisions. The Committee may at any
time, in its sole discretion, offer to buy out a Stock Option previously
granted, based upon such terms and conditions as the Committee shall establish
and communicate to the Holder at the time that such offer is made.

         5.3      Stock Reload Option. The Committee may also grant to the
Holder (concurrently with the grant of an Incentive Stock Option and at or after
the time of grant in the case of a Nonqualified Stock Option) a Stock Reload
Option to purchase up to the number of shares of Stock held by the Holder for at
least six months and used to pay all or part of the exercise price of an Option
("Underlying Option"). Such Stock Reload Option shall have an exercise price
equal to the Fair Market Value as of the date of exercise of the Underlying
Option. Unless the Committee determines otherwise, a Stock Reload Option may be
exercised commencing one year after it is granted and shall expire on the date
of expiration of the Underlying Option to which the Reload Option is related.

Section 6.        Stock Appreciation Rights.

         6.1      Grant and Exercise. The Committee may grant Stock Appreciation
Rights to participants who have been, or are being granted, Options under the
Plan as a means of allowing such participants to exercise their Options without
the need to pay the exercise price in cash. In the case of a Nonqualified Stock
Option, a Stock Appreciation Right may be granted either at or after the time of
the grant of such Nonqualified Stock Option. In the case of an Incentive Stock
Option, a Stock Appreciation Right may be granted only at the time of the grant
of such Incentive Stock Option.

         6.2      Terms and Conditions.  Stock Appreciation Rights shall be
subject to the following terms and conditions:

                  (a) Exercisability. Stock Appreciation Rights shall be
exercisable as shall be determined by the Committee and set forth in the
Agreement, subject to the limitations, if any, imposed by the Code, with respect
to related Incentive Stock Options.

                  (b) Termination.  A Stock Appreciation Right shall terminate
and shall no longer be exercisable upon the termination or exercise of the
related Stock Option.

                  (c) Method of Exercise.  Stock Appreciation Rights shall be
exercisable upon such terms and conditions as shall be determined by the
Committee and set forth in the Agreement and by surrendering the applicable
portion of the related Stock Option. Upon such exercise and surrencer, the

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Holder shall be entitled to receive a number of Option Shares equal to the SAR
Value divided by the Fair Market Value on the date the Stock Appreciation Right
is exercised.

                  (d) Shares Affected Upon Plan. The granting of a Stock
Appreciation Right shall not affect the number of shares of Common Stock
available under for awards under the Plan. The number of shares available for
awards under the Plan will, however, be reduced by the number of shares of
Common Stock acquirable upon exercise of the Stock Option to which such Stock
Appreciation Right relates.

Section 7.        Restricted Stock.

         7.1      Grant. Shares of Restricted Stock may be awarded either alone
or in addition to other awards granted under the Plan. The Committee shall
determine the eligible persons to whom, and the time or times at which, grants
of Restricted Stock will be awarded, the number of shares to be awarded, the
price (if any) to be paid by the Holder, the time or times within which such
awards may be subject to forfeiture ("Restriction Period"), the vesting schedule
and rights to acceleration thereof, and all other terms and conditions of the
awards.

         7.2      Terms and Conditions.  Each Restricted Stock award shall be
subject to the following terms and conditions:

                  (a) Certificates. Restricted Stock, when issued, will be
represented by a stock certificate or certificates registered in the name of the
Holder to whom such Restricted Stock shall have been awarded. During the
Restriction Period, certificates representing the Restricted Stock and any
securities constituting Retained Distributions (as defined below) shall bear a
legend to the effect that ownership of the Restricted Stock (and such Retained
Distributions), and the enjoyment of all rights appurtenant thereto, are subject
to the restrictions, terms and conditions provided in the Plan and the
Agreement. Such certificates shall be deposited by the Holder with the Company,
together with stock powers or other instruments of assignment, each endorsed in
blank, which will permit transfer to the Company of all or any portion of the
Restricted Stock and any securities constituting Retained Distributions that
shall be forfeited or that shall not become vested in accordance with the Plan
and the Agreement.

                  (b) Rights of Holder. Restricted Stock shall constitute issued
and outstanding shares of Common Stock for all corporate purposes. The Holder
will have the right to vote such Restricted Stock, to receive and retain all
regular cash dividends and other cash equivalent distributions as the Board may
in its sole discretion designate, pay or distribute on such Restricted Stock and
to exercise all other rights, powers and privileges of a holder of Common Stock
with respect to such Restricted Stock, with the exceptions that (i) the Holder
will not be entitled to delivery of the stock certificate or certificates
representing such Restricted Stock until the Restriction Period shall have
expired and unless all other vesting requirements with respect thereto shall
have been fulfilled; (ii) the Company will retain custody of the stock
certificate or certificates representing the Restricted Stock during the
Restriction Period; (iii) other than regular cash dividends and other cash
equivalent distributions as the Board may in its sole discretion designate, pay
or distribute, the Company will retain custody of all distributions ("Retained
Distributions") made or declared with respect to the Restricted Stock (and such
Retained Distributions will be subject to the same restrictions, terms and
conditions as are applicable to the Restricted Stock) until such time, if ever,
as the Restricted Stock with respect to which such Retained Distributions shall

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have been made, paid or declared shall have become vested and with respect to
which the Restriction Period shall have expired; (iv) a breach of any of the
restrictions, terms or conditions contained in this Plan or the Agreement or
otherwise established by the Committee with respect to any Restricted Stock or
Retained Distributions will cause a forfeiture of such Restricted Stock and any
Retained Distributions with respect thereto.

                  (c) Vesting; Forfeiture. Upon the expiration of the
Restriction Period with respect to each award of Restricted Stock and the
satisfaction of any other applicable restrictions, terms and conditions (i) all
or part of such Restricted Stock shall become vested in accordance with the
terms of the Agreement, subject to Section 10, below, and (ii) any Retained
Distributions with respect to such Restricted Stock shall become vested to the
extent that the Restricted Stock related thereto shall have become vested,
subject to Section 10, below. Any such Restricted Stock and Retained
Distributions that do not vest shall be forfeited to the Company and the Holder
shall not thereafter have any rights with respect to such Restricted Stock and
Retained Distributions that shall have been so forfeited.

Section 8.        Deferred Stock.

         8.1      Grant. Shares of Deferred Stock may be awarded either alone or
in addition to other awards granted under the Plan. The Committee shall
determine the eligible persons to whom and the time or times at which grants of
Deferred Stock will be awarded, the number of shares of Deferred Stock to be
awarded to any person, the duration of the period ("Deferral Period") during
which, and the conditions under which, receipt of the shares will be deferred,
and all the other terms and conditions of the awards.

         8.2      Terms and Conditions.  Each Deferred Stock award shall be
subject to the following terms and conditions:

                  (a) Certificates. At the expiration of the Deferral Period (or
the Additional Deferral Period referred to in Section 8.2 (d) below, where
applicable), share certificates shall be issued and delivered to the Holder, or
his legal representative, representing the number equal to the shares covered by
the Deferred Stock award.

                  (b) Rights of Holder. A person entitled to receive Deferred
Stock shall not have any rights of a Stockholder by virtue of such award until
the expiration of the applicable Deferral Period and the issuance and delivery
of the certificates representing such Common Stock. The shares of Common Stock
issuable upon expiration of the Deferral Period shall not be deemed outstanding
by the Company until the expiration of such Deferral Period and the issuance and
delivery of such Common Stock to the Holder.

                  (c) Vesting; Forfeiture. Upon the expiration of the Deferral
Period with respect to each award of Deferred Stock and the satisfaction of any
other applicable restrictions, terms and conditions all or part of such Deferred
Stock shall become vested in accordance with the terms of the Agreement, subject
to Section 10, below. Any such Deferred Stock that does not vest shall be
forfeited to the Company and the Holder shall not thereafter have any rights
with respect to such Deferred Stock.

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                  (d) Additional Deferral Period. A Holder may request to, and
the Committee may at any time, defer the receipt of an award (or an installment
of an award) for an additional specified period or until a specified event
("Additional Deferral Period"). Subject to any exceptions adopted by the
Committee, such request must generally be made at least one year prior to
expiration of the Deferral Period for such Deferred Stock award (or such
installment).

Section 9.        Other Stock-Based Awards.

         9.1      Grant and Exercise. Other Stock-Based Awards may be awarded,
subject to limitations under applicable law, that are denominated or payable in,
valued in whole or in part by reference to, or otherwise based on, or related
to, shares of Common Stock, as deemed by the Committee to be consistent with the
purposes of the Plan, including, without limitation, purchase rights, shares of
Common Stock awarded which are not subject to any restrictions or conditions,
convertible or exchangeable debentures, or other rights convertible into shares
of Common Stock and awards valued by reference to the value of securities of or
the performance of specified Subsidiaries. Other Stock-Based Awards may be
awarded either alone or in addition to or in tandem with any other awards under
this Plan or any other plan of the Company.

         9.2      Eligibility for Other Stock-Based Awards. The Committee shall
determine the eligible persons to whom and the time or times at which grants of
such other stock-based awards shall be made, the number of shares of Common
Stock to be awarded pursuant to such awards, and all other terms and conditions
of the awards.

         9.3      Terms and Conditions. Each other Stock-Based Award shall be
subject to such terms and conditions as may be determined by the Committee and
to Section 10, below.

Section 10.       Accelerated Vesting and Exercisability.

         If any "person" (as such term is used in Sections 13(d) and 14(d) of
the Exchange Act), is or becomes the "beneficial owner" (as referred in Rule
13d-3 under the Exchange Act), directly or indirectly, of securities of the
Company representing 25% or more of the combined voting power of the Company's
then outstanding securities in one or more transactions, and the Board does not
authorize or otherwise approve such acquisition, then, the vesting periods of
any and all Options and other Awards granted and outstanding under the Plan
shall be accelerated and all such Options and Awards will immediately and
entirely vest, and the respective holders thereof will have the immediate right
to purchase and/or receive any and all Common Stock subject to such Options and
awards on the terms set forth in this Plan and the respective agreements
respecting such Options and Awards.

Section 11.       Amendment and Termination.

         The Board may at any time, and from time to time, amend alter, suspend
or discontinue any of the provisions of the Plan, but no amendment, alteration,
suspension or discontinuance shall be made that would impair the rights of a
Holder under any Agreement theretofore entered into hereunder, without the
Holder's consent.

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Section 12.   Term of Plan.

         12.1 Effective Date. The Plan shall be effective as of February 1, 2000
("Effective Date"), subject to the approval of the Plan by the Company's
stockholders within one year after the Effective Date. Any awards granted under
the Plan prior to such approval shall be effective when made (unless otherwise
specified by the Committee at the time of grant), but shall be conditioned upon,
and subject to, such approval of the Plan by the Company's stockholders and no
awards shall vest or otherwise become free of restrictions prior to such
approval.

         12.2 Termination Date. Unless terminated by the Board, this Plan shall
continue to remain effective until such time as no further awards may be granted
and all awards granted under the Plan are no longer outstanding. Notwithstanding
the foregoing, grants of Incentive Stock Options may be made only during the ten
year period following the Effective Date.

Section 13.   General Provisions.

         13.1 Written Agreements. Each award granted under the Plan shall be
confirmed by, and shall be subject to the terms of, the Agreement executed by
the Company and the Holder. The Committee may terminate any award made under the
Plan if the Agreement relating thereto is not executed and returned to the
Company within 10 days after the Agreement has been delivered to the Holder for
his or her execution.

         13.2 Unfunded Status of Plan. The Plan is intended to constitute an
"unfunded" plan for incentive and deferred compensation. With respect to any
payments not yet made to a Holder by the Company, nothing contained herein shall
give any such Holder any rights that are greater than those of a general
creditor of the Company.

         13.3  Employees.

               (a) Engaging in Competition With the Company. In the event a
Holder's employment with the Company or a Subsidiary is terminated for any
reason whatsoever, and within 18 months after the date thereof such Holder
accepts employment with any competitor of, or otherwise engages in competition
with, the Company, the Committee, in its sole discretion, may require such
Holder to return to the Company the economic value of any award that was
realized or obtained by such Holder at any time during the period beginning on
that date that is six months prior to the date such Holder's employment with the
Company is terminated.

               (b) Termination for Cause. The Committee may, in the event a
Holder's employment with the Company or a Subsidiary is terminated for cause,
annul any award granted under this Plan to such employee and, in such event, the
Committee, in its sole discretion, may require such Holder to return to the
Company the economic value of any award that was realized or obtained by such
Holder at any time during the period beginning on that date that is six months
prior to the date such Holder's employment with the Company is terminated.

               (c) No Right of Employment.  Nothing contained in the Plan or in
any award hereunder shall be deemed to confer upon any Holder who is an employee
of the Company or any Subsidiary any right to continued employment with the

                                       11

<PAGE>

Company or any Subsidiary, nor shall it interfere in any way with the right of
the Company or any Subsidiary to terminate the employment of any Holder who is
an employee at any time.

         13.4 Investment Representations; Company Policy. The Committee may
require each person acquiring shares of Common Stock pursuant to a Stock Option
or other award under the Plan to represent to and agree with the Company in
writing that the Holder is acquiring the shares for investment without a view to
distribution thereof. Each person acquiring shares of Common Stock pursuant to a
Stock Option or other award under the Plan shall be required to abide by all
policies of the Company in effect at the time of such acquisition and thereafter
with respect to the ownership and trading of the Company's securities.

         13.5 Additional Incentive Arrangements. Nothing contained in the Plan
shall prevent the Board from adopting such other or additional incentive
arrangements as it may deem desirable, including, but not limited to, the
granting of Stock Options and the awarding of Common Stock and cash otherwise
than under the Plan; and such arrangements may be either generally applicable or
applicable only in specific cases.

         13.6 Withholding Taxes. Not later than the date as of which an amount
must first be included in the gross income of the Holder for Federal income tax
purposes with respect to any option or other award under the Plan, the Holder
shall pay to the Company, or make arrangements satisfactory to the Committee
regarding the payment of, any Federal, state and local taxes of any kind
required by law to be withheld or paid with respect to such amount. If permitted
by the Committee, tax withholding or payment obligations may be settled with
Common Stock, including Common Stock that is part of the award that gives rise
to the withholding requirement. The obligations of the Company under the Plan
shall be conditioned upon such payment or arrangements and the Company or the
Holder's employer (if not the Company) shall, to the extent permitted by law,
have the right to deduct any such taxes from any payment of any kind otherwise
due to the Holder from the Company or any Subsidiary.

         13.7 Governing Law. The Plan and all awards made and actions taken
thereunder shall be governed by and construed in accordance with the laws of the
State of New York (without regard to choice of law provisions); provided,
however, that all matters relating to or involving corporate law shall be
governed by the Delaware General Corporation Law.

         13.8 Other Benefit Plans. Any award granted under the Plan shall not be
deemed compensation for purposes of computing benefits under any retirement plan
of the Company or any Subsidiary and shall not affect any benefits under any
other benefit plan now or subsequently in effect under which the availability or
amount of benefits is related to the level of compensation (unless required by
specific reference in any such other plan to awards under this Plan).

         13.9 Non-Transferability. Except as otherwise expressly provided in the
Plan or the Agreement, no right or benefit under the Plan may be alienated,
sold, assigned, hypothecated, pledged, exchanged, transferred, encumbranced or
charged, and any attempt to alienate, sell, assign, hypothecate, pledge,
exchange, transfer, encumber or charge the same shall be void.

         13.10 Applicable Laws.  The obligations of the Company with respect to
all Stock Options and awards under the Plan shall be subject to (i) all
applicable laws, rules and regulations and such approvals by any governmental
agencies as may be required, including, without limitation, the Securities

                                       12

<PAGE>

Act of 1933, as amended, and (ii) the rules and regulations of any securities
exchange on which the Common Stock may be listed.

         13.11 Conflicts. If any of the terms or provisions of the Plan or an
Agreement conflict with the requirements of Sections 162(m) or 422 of the Code,
then such terms or provisions shall be deemed inoperative to the extent they so
conflict with such requirements. Additionally, if this Plan or any Agreement
does not contain any provision required to be included herein under Sections
162(m) or 422 of the Code, such provision shall be deemed to be incorporated
herein and therein with the same force and effect as if such provision had been
set out at length herein and therein. If any of the terms or provisions of any
Agreement conflict with any terms or provisions of the Plan, then such terms or
provisions shall be deemed inoperative to the extent they so conflict with the
requirements of the Plan. Additionally, if any Agreement does not contain any
provision required to be included therein under the Plan, such provision shall
be deemed to be incorporated therein with the same force and effect as if such
provision had been set out at length therein.

         13.12 Non-Registered Stock. The shares of Common Stock to be
distributed under this Plan have not been, as of the Effective Date, registered
under the Securities Act of 1933, as amended, or any applicable state or foreign
securities laws and the Company has no obligation to any Holder to register the
Common Stock or to assist the Holder in obtaining an exemption from the various
registration requirements, or to list the Common Stock on a national securities
exchange or any other trading or quotation system, including the Nasdaq National
Market and Nasdaq SmallCap Market.

         13.13 Stockholder Approval. If this Plan is not approved by the
Stockholders as required under Section 422 and the regulations under Section
162(m) of the Code, this Plan is deemed amended to eliminate any potential
flexibility or benefits which the Company and Participant might have had under
such sections of the Code.

                                       13

<PAGE>

                                 Plan Amendments

                  Date Approved                                  Initials of
 Date Approved  by Stockholders,   Sections  Description of  Attorney Effecting
   by Board       if necessary     Amended     Amendments         Amendment
   --------       ------------     -------     ----------         ---------

                                       14EXHIBIT 4.3

                             STOCK OPTION AGREEMENT
                              PRIME CELLULAR, INC.

                  AGREEMENT made as of this 16th day of January, 1998 (the
"Grant Date") between Prime Cellular, Inc. (the "Company"), a Delaware
corporation, having a principal place of business at 100 Stamford Place,
Stamford, CT 06902 and Richard Axel ("Axel"),residing at 435 Riverside Drive,
New York, New York 10025.

                  In consideration of the mutual covenants hereinafter set forth
and for other good and valuable consideration, the parties hereto agree:

                  1. Grant of Option. The Company hereby grants to Axel as a
matter of separate agreement and not in lieu of any compensation for services
provided by Axel in his position as director of the Company, the right and
option (the "Option") to purchase all or any part of an aggregate of 100,000
shares of common stock of the Company (the "Option Shares"), on the terms and
conditions and subject to all the limitations set forth herein, of which Option
Shares shall be exercisable and shall vest as of the date hereof.

                  All Option Shares, when issued and delivered in accordance
with the terms of this Agreement, shall be fully paid and non-assessable, and
the certificate or certificates representing such Option Shares shall so state.

                  2. Exercise of Option and Issue of Shares. The Option may be
exercised in whole or in part (to the extent that it is exercisable in
accordance with its terms) by giving written notice to the Company, in the form
attached hereto as Exhibit A, together with the tender of the Exercise Price.
Such written notice shall be signed by the person exercising the Option, shall
state the number of Option Shares with respect to which the Option is being
exercised, shall contain any warranty required by Section 5 below and shall
otherwise comply with the terms and conditions of this Agreement. The Company
shall pay all original issue taxes with respect to the issue of the Option
Shares pursuant hereto and all other fees and expenses necessarily incurred by
the Company in connection herewith. Except as specifically set forth herein,
Axel acknowledges that any income or other taxes due from him with respect to
this Option or the Option Shares issuable pursuant to this Option shall be his
responsibility. The holder of this Option shall have rights as a shareholder
only with respect to any Option Shares covered by the Option after due exercise
of the Option and tender of the full exercise price for the Option Shares being
purchased pursuant to such exercise.

<PAGE>

                  3.  Exercise Price.  The purchase price of the Option Shares
covered by this Option shall be $0.75 per share (the "Exercise Price").

                  4.  Term of Option.  The Option shall terminate four (4) years
from the date of this Agreement (the "Term").

                  5.  Purchase for Investment.

                      (a)      Unless the offering and sale of the Option Shares
to be issued upon the particular exercise of the Option shall have been
effectively registered under the Securities Act of 1933, as now in force or
hereafter amended, or any successor legislation (the "Act"), or an exemption
from such registration is available, the Company shall be under no obligation to
issue the Option Shares covered by such exercise unless and until the following
conditions have been fulfilled:

                               (1)  The person(s) who exercise the Option shall
warrant to the Company, at the time of such exercise, that such person(s) are
acquiring such Option Shares for his or her own account, for investment and not
with a view to, or for sale in connection with, the distribution of any such
Option Shares, in which event the person(s) acquiring such Option Shares shall
be bound by the provisions of the following legend which shall be endorsed upon
the certificate(s) evidencing their Option Shares issued pursuant to such
exercise:

                  "The shares represented by this certificate have not been
                  registered under the Securities Act of 1933, as amended (the
                  "Act"). Such shares may not be sold, transferred or otherwise
                  disposed of unless they have first been registered under the
                  Act or, unless, in the opinion of counsel satisfactory to the
                  Company's counsel, such registration is not required."

                               (2)  The Company shall have received an opinion
of its counsel that the Option Shares may be issued upon such particular
exercise in compliance with the Act without registration thereunder. Without
limiting the generality of the foregoing, the Company may delay issuance of the
Option Shares until completion of any action or obtaining of any consent, which
the Company deems necessary under any applicable law (including without
limitation state securities or "blue sky" laws).

                      (b)    Axel acknowledges that he has been informed of the
applicable provisions of Rule 144 promulgated under the Act, including, without
limitation, its requirements that (i) shares must have been owned and paid for a
period of at least one year before sale may occur; (ii) the Company must be at
the time of sale and for a specified prior period a reporting company under the
Exchange Act of 1934 and current in its filings thereunder; (iii) sale must

                                       -2-

<PAGE>

occur in a customary sale through a broker; (iv) the number of shares which may
be sold within any three (3) month period must not exceed the volume limitations
contained in the Rule; and (v) prior notice of an intended sale must be fully
filed with the Commission in the manner prescribed by law. Axel realizes that,
in the event Rule 144 is not available, registration under the Act or an
exemption therefrom will be required for any sale and the Company is not
obligated to register any shares or to assist in obtaining an exemption from
such registration if such exemption is otherwise available. Accordingly, Axel
understands that, if the terms and conditions of Rule 144 are not fully met,
sale of the shares acquired hereby may not be readily possible.

                      (c)   Axel further acknowledges that he has reviewed such
information regarding the Company's activities as he deems necessary to satisfy
himself regarding the desirability of purchasing the Common Stock pursuant
hereto, which information has included, without limitation, copies of the annual
reports of the Company on Forms 10-K for the years ended May 31, 1996 and 1997,
as amended, and on Forms l0-Q, as filed with the Securities and Exchange
Commission during the fiscal years 1996 and 1997.

                  6.  Shareholder Rights.  Axel shall have rights as a
shareholder only with respect to any Shares covered by the Option after due
exercise of the Option and tender of the full purchase price for the Option
Shares being purchased pursuant to such exercise.

                  7.  Non-Assignability. The Option shall not be transferable by
Axel otherwise than by will or by the laws of descent and distribution and shall
be exercisable, during Axel's lifetime, only by Axel. The Option shall not be
assigned, pledged or hypothecated in any way (whether by operation of law or
otherwise) and shall not be subject to execution, attachment or similar process.
Any attempted transfer, assignment, pledge, hypothecation or other disposition
of the Option or of any rights granted hereunder contrary to the provisions of
this Section 7, or the levy of any attachment or similar process upon the Option
or such right, shall be null and void.

                  8.  Notices.  Any notices required or permitted by the terms
of this Agreement shall be given by registered or certified mail, return receipt
requested, addressed as follows:

        To the Company:           Prime Cellular, Inc.
                                  100 Stamford Place
                                  Stamford, CT 06902

                                  Attention:  President

                                       -3-

<PAGE>

         with a copy to:          Tenzer Greenblatt, LLP
                                  405 Lexington Avenue
                                  New York, NY 10174

                                  Attention: Robert Mittman, Esq.

        To the Axel:              Richard Axel
                                  435 Riverside Drive
                                  New York, NY  10025

or to such other address or addresses of which notice in the same manner has
previously been given. Any such notice shall be deemed to have been given three
(3) days from mailing when mailed in accordance with the foregoing provisions.
Either party hereto may change the address of which notices shall be given by
providing the other party hereto with written notice of such change.

                  9.   Governing Law. This Agreement shall be construed and
enforced in accordance with the law of the State of New York without giving
effect to its conflicts of laws provisions.

                  10.  Benefit of Agreement. This Agreement shall be for the
benefit of and shall be binding upon the heirs, executors, administrators and
successors of the parties hereto.

                  11. Severability. In the event that any term or condition in
this Agreement shall for any reason be held by a court of competent jurisdiction
to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other term or condition of
this Agreement, but this Agreement shall be construed as if such invalid or
illegal or unenforceable term or condition had never been contained herein.

                  12. Entire Agreement. This Agreement supersedes any and all
other agreements, either oral or in writing, between the parties hereto with
respect to the subject matter hereof and contains all of the covenants and
agreements between the parties with respect thereto. Any modification or
termination of this Agreement will be effective only if it is in writing signed
by all of the parties hereto.

                  13. Execution in Counterparts. This Agreement may be executed
by the parties in one or more counterparts, each of which shall be deemed to be
an original but all of which taken together shall constitute one and the same
agreement, and shall become effective when one or more counterparts has been
signed by each of the parties hereto and delivered to each of the other parties
hereto.

                                       -4-

<PAGE>

                  IN WITNESS WHEREOF, the Company has caused this Agreement to
be executed by its duly authorized officer, and the Axel has hereunto set his
hand, all as of the day and year first above written.

                                            PRIME CELLULAR, INC.

                                            /s/ Joseph K. Pagano
                                            ----------------------------
                                            Joseph K. Pagano, President

                                            /s/ Richard Axel
                                            ---------------------------
                                            RICHARD AXEL

                                       -5-

<PAGE>

                                    EXHIBIT A

                              NOTICE OF EXERCISE OF
                        PRIME CELLULAR, INC. STOCK OPTION
                           TO PURCHASE COMMON STOCK OF
                              PRIME CELLULAR, INC.

                           Name _______________________________________________

                           Address ____________________________________________

                           ____________________________________________________

                           Date _______________________________________________

Prime Cellular, Inc.
100 Stamford Place
Stamford, CT 06902

Attention:  President

         Re:      Exercise of Prime Cellular, Inc.;
                  Stock Option
                  -------------------------------------

Gentlemen:

                  Subject to acceptance hereof in writing by Prime Cellular,
Inc. (the "Company") pursuant to the provisions of the Stock Option Agreement
between the Company and the Undersigned, the Undersigned hereby elects to
exercise options granted to the Undersigned to purchase ____ shares of $.0l par
value Common Stock of the Company (the "Common Stock").

                  Enclosed is a certified check (or bank cashier's check) for
$________________ for the full purchase price payable to the order of Prime
Cellular, Inc.

                  As soon as the Stock Certificate is registered in the name of
the Undersigned, please deliver it to the Undersigned at the above address.

                  The Undersigned hereby represents, warrants, covenants and
agrees with the Company as follows:

                  The Common Stock being acquired by the Undersigned will be
         acquired for his own account without the participation of any other
         person with the intent of holding the Common Stock for investment and
         without the intent of participating, directly or indirectly, in a
         distribution of the Common Stock and not with a view to, or for resale
         in connection with, any distribution of the Common Stock, nor is the
         Undersigned aware of the existence of any distribution of the Common
         Stock;

<PAGE>

                  The Undersigned is not acquiring the Common Stock based upon
         any representation, oral or written, by any person with respect to the
         future value of, or income from, the Common Stock but rather upon an
         independent examination and judgment as to the prospects of the
         Company;

                  The Common Stock was not offered to the Undersigned by means
         of publicly disseminated advertisements or sales literature, nor is the
         Undersigned aware of any offers made to other persons by such means;

                  The Undersigned is able to bear the economic risks of the
         investment in the Common Stock, including the risk of complete loss of
         the investment of the Undersigned therein;

                  The Undersigned understands and agrees that the Common Stock
         will be issued and sold to the undersigned without registration under
         any state law relating to the registration of securities for sale, and
         will be issued and sold in reliance on the exemptions from registration
         under the Securities Act of 1933, as amended (the "1933 Act"), provided
         by Sections 3(b) and/or 4(2) thereof and the rules and regulations
         promulgated thereunder;

                  The Common Stock cannot be offered for sale, sold or
         transferred by the Undersigned other than pursuant to an effective
         registration under the 1933 Act or in a transaction otherwise in
         compliance with the 1933 Act and evidence satisfactory to the Company
         of the compliance with the applicable securities laws or other
         jurisdictions. The Company shall be entitled to rely upon an opinion of
         counsel satisfactory to it with respect to compliance with the above
         laws;

                  The Company will be under no obligation to register the Common
         Stock or to comply with any exemption available for sale of the Common
         Stock without registration, and the information or conditions necessary
         to permit routine sales of securities of the Company under Rule 144 of
         the 1933 Act are not now available and no assurance has been given that
         it or they will become available. The Company is under no obligation to
         act in any manner so as to make Rule 144 available with respect to the
         Common Stock;

                  The Undersigned has had complete access to and the opportunity
         to review and make copies of all material documents related to the
         business of the Company. The Undersigned has examined such of these
         documents as the Undersigned wished and is familiar with the business
         and affairs of the Company. The Undersigned realizes that the purchase
         of the Common Stock is a speculative investment and that any possible
         profit therefrom is uncertain;

                  The Undersigned has had the opportunity to ask questions of,
         and receive answers from, the Company and any person acting on its
         behalf and to obtain all material information reasonably available with
         respect to the Company and its affairs. The Undersigned has received
         all information and data with respect to the Company which the
         Undersigned has requested and which the Undersigned has deemed relevant
         in connection with the evaluation of the merits and risks of the
         investment of the Undersigned in the Company;

                                        2

<PAGE>

                  The Undersigned has such knowledge and experience in financial
         and business matters that the Undersigned is capable of evaluating the
         merits and risks of the purchase of the Shares hereunder and the
         Undersigned is able to bear the economic risk of such purchase; and

                  The agreements, representations, warranties and covenants made
         by the Undersigned herein extend to and apply to all of the Common
         Stock of the Company issued to the Undersigned pursuant to this Option.
         Acceptance by the Undersigned of the certificate representing such
         Common Stock shall constitute a confirmation by the Optionee that all
         such agreement, representations, warranties and covenants made herein
         shall be true and correct at such time.

                  The Undersigned understands that the certificates representing
         such shares being purchased by the Undersigned in accordance with this
         notice shall bear a legend referring to the foregoing covenants,
         representations and warranties and restrictions on transfer, and the
         Undersigned agrees that a legend to that effect may be placed on any
         certificate which may be issued to the Undersigned as a substitute for
         the certificates being acquired by the Undersigned in accordance with
         this notice.

                                            Very truly yours,

                                            _________________________________
                                            [Name]

AGREED TO AND ACCEPTED BY:

PRIME CELLULAR, INC.

By:  ____________________________________

Name:____________________________________

Title: __________________________________

Number of Shares ________________________

Exercised: ______________________________

Number of Shares
Remaining: ______________________________

                                        3

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