Document:

<PAGE>

                                                                     EXHIBIT 4.8

                               AMENDMENT NO. 2 TO
                   CHILES OFFSHORE INC. 2000 STOCK OPTION PLAN

         AMENDMENT NO. 2, dated as of August 7, 2002 (this "Amendment"), to the
Chiles Offshore Inc. 2000 Stock Option Plan (the "Plan").

                                   WITNESSETH

         WHEREAS, the Plan was adopted by the Board of Directors (the "Board")
of Chiles Offshore Inc. (the "Company") and approved by the stockholders of the
Company as of June 22, 2000 and became effective on September 22, 2000; and

         WHEREAS, the Plan was subsequently amended by Amendment No. 1 effective
as of November 13, 2000; and

         WHEREAS, Section XX of the Plan authorizes the Board to amend the Plan
and the Board has agreed to amend the Plan as set forth herein;

         NOW, THEREFORE, the Board has agreed as follows:

         1. The name of the Plan in the first sentence of Section I of the Plan
was changed to "ENSCO International Incorporated 2000 Stock Option Plan," the
term "Company" used throughout the Plan was changed to mean "ENSCO International
Incorporated," and the term "Common Stock" subject to outstanding Benefits under
the Plan was changed to mean the common stock of ENSCO International
Incorporated.

         2. The first sentence of Section II.A of the Plan was amended to read
as follows:

         The Plan will be administered by the Nominating and Compensation
Committee (the "Committee") of the Board of Directors of the Company.

         3. Sections III through XI of the Plan was amended to provide that no
Benefit may be granted to any participant after August 7, 2002.

         4. Section XXII.B of the Plan was amended to read as follows:

         B. This Plan shall terminate on the earlier of (i) June 21, 2010
(unless sooner terminated by the Board of Directors of the Company) or (ii) the
exercise or expiration date of the last outstanding Nonqualified Stock Option.

         5. Except as amended hereby, the Plan remains in full force and effect
in accordance with its terms.<PAGE>
                                                                 EXHIBIT 10.3(A)

   This Offering Expires at 5:00 P.M Eastern Standard Time, September 16, 2002

                           KENSINGTON BANKSHARES, INC.
                     SUBSCRIPTION FOR SHARES OF COMMON STOCK

         The registered owner named below is entitled to purchase shares of
Common Stock of Kensington Bankshares, Inc. at a price of $7.50 per share, at
any time during the period commencing , 2002, and ending at 5:00 P.M., Eastern
Standard Time on September 16, 2002, upon the terms specified herein and in the
Prospectus relating thereto.

NAME:
      -----------------------------------------------------
      (please print)

         The undersigned irrevocably subscribes for the following shares upon
the terms and conditions specified in the Prospectus of Kensington Bankshares,
Inc., dated August 13, 2002, (receipt of which is acknowledged):

<TABLE>
<CAPTION>

<S>                                                    <C>                               <C>
BASIC SUBSCRIPTION PRIVILEGE:

         Shares Subscribed For:                          _______________________________   shares

         Cost of Shares Subscribed
         For at $7.50 per share                         $______________________________

Check Enclosed:  Total payable to:
Kensington Bankshares, Inc.                             $______________________________

OVER SUBSCRIPTION REQUEST

         In addition to the above, the undersigned
         desires to purchase additional shares at a
         price of $7.50 per share.                       ______________________________   shares

</TABLE>

                   THESE SECURITIES ARE NOT FEDERALLY INSURED.

Signature:
                           -----------------------------------------------------

Address:
                           -----------------------------------------------------

Telephone Number:
                           -----------------------------------------------------

Social Security Number:
                           -----------------------------------------------------

                                    ACCEPTED

KENSINGTON BANKSHARES, INC.
13246 North Dale Mabry Highway
Tampa, Florida  33624
Telephone Number:  (813) 961-6200

                                         By:
                                             -----------------------------------<PAGE>

                                                                 EXHIBIT 10.3(B)

   This Offering Expires at 5:00 P.M Eastern Standard Time, September 30, 2002

                           KENSINGTON BANKSHARES, INC.
                     SUBSCRIPTION FOR SHARES OF COMMON STOCK

         The Company is offering to the public shares of Common Stock of
Kensington Bankshares, Inc. at a price of $7.50 per share, at any time during
the period commencing , 2002, and ending at 5:00 P.M., Eastern Standard Time on
September 30, 2002, upon the terms specified herein and in the Prospectus
relating thereto.

NAME:
                           --------------------------------------------

EXPIRATION DATE:
                           --------------------------------------------

SUBSCRIPTION PRICE:
                           --------------------------------------------

         The undersigned irrevocably subscribes for the following shares upon
the terms and conditions specified in the Prospectus of Kensington Bankshares,
Inc., dated August 13, 2002, (receipt of which is acknowledged):

<TABLE>
<CAPTION>

<S>                                                    <C>                               <C>
BASIC SUBSCRIPTION PRIVILEGE:

         Shares Subscribed For:                          _______________________________   shares

         Cost of Shares Subscribed
         For at $7.50 per share                         $______________________________

Check Enclosed:  Total payable to:
Kensington Bankshares, Inc.                             $______________________________

</TABLE>

                   THESE SECURITIES ARE NOT FEDERALLY INSURED.

Signature:
                           -----------------------------------------------------

Address:
                           -----------------------------------------------------

Telephone Number:
                           -----------------------------------------------------

Social Security Number:
                           -----------------------------------------------------

                                    ACCEPTED

KENSINGTON BANKSHARES, INC.
13246 North Dale Mabry Highway
Tampa, Florida  33624
Telephone Number:  (813) 961-6200

                                         By:
                                             -----------------------------------<PAGE>
                                                                     EXHIBIT 4.1

                              AMENDMENT NO. 11 TO
                                    TEKELEC
                             1994 STOCK OPTION PLAN

               Section 3. Section 3 of the Tekelec 1994 Stock Option Plan is
hereby amended to read in its entirety as follows:

               "3.    SHARES RESERVED.

                      The maximum aggregate number of Shares reserved for
               issuance pursuant to the Plan shall be Twenty Seven Million Seven
               Hundred Thousand (27,700,000) Shares or the number of shares of
               stock to which such Shares shall be adjusted as provided in
               Section 10 of the Plan. Such number of Shares may be set aside
               out of authorized but unissued Shares not reserved for any other
               purpose, or out of issued Shares acquired for and held in the
               treasury of the Company from time to time.

                      Shares subject to, but not sold or issued under, any
               Option terminating, expiring or canceled for any reason prior to
               its exercise in full, shall again become available for Options
               thereafter granted under the Plan, and the same shall not be
               deemed an increase in the number of Shares reserved for issuance
               under the Plan."

Dated: March 19, 2002<PAGE>
                                                                     EXHIBIT 4.3

                                     TEKELEC
                     NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN

                               SECTION I. PURPOSE

      The purpose of this Tekelec Non-Employee Director Stock Option Plan (this
"Plan") is to provide an incentive which will motivate and reward "Non-Employee
Directors" of the Company and promote the best interests and long-term
performance of the Company by encouraging the ownership of the Company's stock
by such "Non-Employee Directors." None of the options granted pursuant to this
Plan will qualify as an Incentive Stock Option, as defined in Section 422 of the
Internal Revenue Code of 1986, as amended (the "Code").

                         SECTION II. CERTAIN DEFINITIONS

      A.    "1933 Act" shall mean the Securities Act of 1933, as amended from
time to time.

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

      C.    "Common Stock" means the shares of the Common Stock, without par
value, of the Company.

      D.    "Committee" means the Committee appointed by the Board in accordance
with Section IX.C. of the Plan, if one is appointed.

      E.    "Company" means Tekelec, a California corporation, or any successor
thereto.

      F.    "Disability" means the inability of a Participant to perform his or
her duties as a Non-Employee Director by reason of any medically determinable
physical or mental impairment which can be expected to result in death or which
has lasted or can be expected to last for a continuous period of more than 12
months.

      G.    "Fair Market Value," as of a given date, means the fair market value
of one share of Common Stock, determined as follows:

            (i)   If the Common Stock is listed on any established stock
exchange or on a national market system, including without limitation the Nasdaq
National Market or the Nasdaq SmallCap Market of The Nasdaq Stock Market, the
fair market value per share shall be the closing sales price (or the closing bid
price, if no sales were reported) on such exchange or system on the date of
grant of the Option (or, if the date of grant is not a trading day, on the last
trading day preceding the date of grant), as such closing sales price (or
closing bid price) is reported in The Wall Street Journal or such other source
as the Board deems reliable;

            (ii)  If the Common Stock is regularly quoted by a recognized
securities dealer but sales prices are not reported, the fair market value per
share shall be the average of the closing bid and asked prices of the Common
Stock on the date of grant (or, if there are no such prices for such date, on
the last trading day preceding the date of grant on which there were such
reported prices) as reported in The Wall Street Journal or such other source as
the Board deems reliable; or

                                       1
<PAGE>
            (iii) If there is no public market for the Common Stock, the fair
market value per share shall be determined by the Board in good faith.

      H.    "Non-Employee Director" means a person who is a member of the Board
of Directors but who is not an employee of the Company or any subsidiary of the
Company.

      I.    "Participant" means a Non-Employee Director who is granted a stock
option hereunder.

      J.    "Plan" means this Tekelec Non-Employee Director Stock Option Plan.

                               SECTION III. STOCK

      The maximum aggregate number of shares of Common Stock which may be sold
under this Plan is 500,000. If an option expires or is terminated or surrendered
without having been fully exercised, the unpurchased shares of Common Stock
subject to the option shall again be available for the purposes of this Plan.

                             SECTION IV. ELIGIBILITY

      Stock options may be granted under the Plan only to Non-Employee
Directors. All options shall be automatically granted in accordance with the
terms set forth in Section V hereof.

                            SECTION V. STOCK OPTIONS

      A.    Grant of Stock Options upon Initial Election as a Non-Employee
Director. Each Non-Employee Director shall automatically be granted an option to
purchase 10,000 shares of Common Stock on the date on which such person first
becomes a Non-Employee Director, whether through election by the shareholders of
the Company or through appointment by the Board; provided, however, that a
director who is an employee of the Company and who ceases to be an employee but
remains a director shall not be granted such an option.

      B.    Grant of Stock Options upon Re Election as a Non-Employee Director.
Each Non-Employee Director shall automatically be granted an option to purchase
10,000 shares of Common Stock on the date of each annual meeting of the
shareholders of the Company, commencing with the Company's 2002 annual meeting
of shareholders, at which the Non-Employee Director is re elected as a director
of the Company, provided that such Non-Employee Director has been a director of
the Company for at least six months preceding the date of the annual meeting.

      C.    Option Price. The purchase price of the Common Stock under each
option granted hereunder shall be 100% of the Fair Market Value of the Common
Stock on the date of the grant of the option.

      D.    Term and Exercise of Options. The term of each option shall be seven
years from the date of grant thereof. Each option will vest and become
exercisable in four equal quarterly installments commencing on the last day of
the calendar quarter in which the option is granted and continuing on the last
day of each of the three calendar quarters thereafter as long as the optionee
continues to serve as a Non-Employee Director on such dates; provided, however,
that except as provided in Subsection F. of this Section V., no option may be
exercised at any time unless the Participant is then a Non-Employee Director and
has been so continuously since the granting of the option. An option may not be
exercised for a fraction of a share.

                                       2
<PAGE>
      E.    Non-Transferability of Options. Each option granted under the Plan
shall by its terms be non-transferable by the Participant other than by will or
the laws of descent and distribution or pursuant to a transfer between spouses
incident to a divorce. An option may be exercised, during the lifetime of the
Participant, only by the Participant.

      F.    Termination of Service. If a Participant voluntarily or
involuntarily terminates his or her service as a Non-Employee Director for any
reason other than death or Disability, the Participant may exercise any option
held by such Participant at any time within 90 days after the date of such
termination, but only to the extent that the Participant was entitled to
exercise the option on the date of termination. In no event shall an option be
exercisable after the expiration of the term of the option. Any option not so
exercised shall expire. If a Participant's service as a Non-Employee Director is
terminated by reason of death or Disability, the Participant, or the
Participant's personal representative if the Participant has died, may exercise
any or all of the Participant's unexercised unexpired options, provided such
exercise occurs within 12 months after the date of the Participant's death or
termination of service as a result of Disability but not after the expiration of
the term of the option.

      G.    Payment of Option Exercise Price. The purchase price is to be paid
in full upon exercise of an option, either (i) in cash, (ii) by check, (iii) by
consideration received by the Company under a cashless exercise program
acceptable to the Company in connection with the Plan, or (iv) by any
combination of the payment methods specified in the foregoing clauses (i), (ii)
and (iii).

      H.    Option Agreements. Options shall be evidenced by written option
agreements in the form of such agreement attached hereto as Attachment I.

      I.    Pro Rata Allocation. In the event that the options to be granted
under the Plan on a specific grant date would exceed the number of shares then
available for grant hereunder, the shares available for grant shall be allocated
on a pro rata basis among the Non-Employee Directors who are entitled to be
granted options on such grant date.

      J.    Procedure for Exercise. An option shall be deemed to be exercised
when written notice of such exercise has been given to the Company in accordance
with the terms of the option by the person entitled to exercise the option and
full payment for the shares with respect to which the option is exercised has
been received by the Company. Full payment may consist of any consideration and
method of payment allowable under Section V.G. of the Plan. Until the issuance
(as evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company) of the stock certificate evidencing
such shares, no right to vote or receive dividends or any other rights as a
shareholder shall exist with respect to the shares to be issued upon exercise of
the option, notwithstanding the exercise of the option. A share certificate for
the number of shares acquired upon exercise of an option shall be issued
promptly after such exercise; provided, however, that if the shares are covered
by a registration statement under the 1933 Act or can otherwise be issued
without a legend restricting their transfer, the Participant may direct that the
shares be issued and delivered by electronic transfer to a securities account
maintained in the Participant's name. No adjustment will be made for a dividend
or other right for which the record date is prior to the date the stock
certificate is issued, except as provided in Section VI of the Plan.

         Exercise of an option in any manner shall result in a decrease in the
number of shares which thereafter may be available, both for purposes of the
Plan and for sale under the option, by the number of shares as to which the
option is exercised.

                                       3
<PAGE>
                          SECTION VI. ADJUSTMENTS UPON
                     CHANGES IN CAPITALIZATION, DISSOLUTION,
                        LIQUIDATION, MERGER OR ASSET SALE

      A.    Changes in Capitalization. Subject to any required action by the
shareholders of the Company, the number of shares covered by each outstanding
option, or which have been authorized for issuance under the Plan but as to
which no options have yet been granted or which have been returned to the Plan
upon cancellation or expiration of an option, as well as the exercise price per
share of each such outstanding option, shall be proportionately adjusted for any
increase or decrease in the number of issued shares of Common Stock resulting
from a stock split, reverse stock split, combination or reclassification or the
payment of a stock dividend (but only on the Common Stock) or any other increase
or decrease in the number of shares of Common Stock issued without receipt of
consideration by the Company; provided, however, that the conversion of any
convertible securities of the Company shall not be deemed to have been "effected
without receipt of consideration." Such adjustment shall be made by the Board,
whose determination in that respect shall be final, binding and conclusive.
Except as expressly provided herein, no issuance by the Company of shares of
stock of any class, or securities convertible into or exchangeable for shares of
stock of any class, shall affect, and no adjustment by reason thereof shall be
made with respect to, the number or price of shares subject to an option.
Without limiting the generality of the foregoing, no adjustment shall be made to
the number of shares subject to the automatic grant provisions of Sections V.A.
and V.B. of the Plan as a result of any changes in capitalization as described
in this Section VI.A.

      B.    Dissolution, Liquidation, Merger or Asset Sale. In the event of the
proposed dissolution or liquidation of the Company, the proposed sale of all or
substantially all of the assets of the Company, or the merger, consolidation or
reorganization of the Company with or into another corporation as a result of
which the Company is not the surviving corporation or as a result of which the
outstanding shares of Common Stock are exchanged for or converted into cash or
property or securities not of the Company, the Board shall declare that all
options outstanding under the Plan shall terminate as of a date fixed by the
Board which is at least 30 days after notice thereof is given by the Company to
all Participants, unless such 30 day period is waived by all Participants, and
shall give each Participant the right to exercise his or her option or options
granted hereunder as to all or any part of the shares subject thereto, including
shares which have not vested at such time, until the date of termination of the
options, provided, however, that no options may be exercised after their
expiration.

      C.    No Fractional Shares. No fractional shares of Common Stock shall be
issuable on account of any action described in this Section VI, and the
aggregate number of shares covered by an option, when changed as the result of
such action, shall be reduced to the largest number of whole shares resulting
from such action.

                      SECTION VII. AMENDMENT OR TERMINATION

      A.    Amendment or Termination. Unless this Plan shall have been earlier
terminated as hereinafter provided, this Plan shall terminate, and no stock
option shall be granted hereunder, ten years from the date of adoption of the
Plan by the Board. The Board of Directors may, at any time prior to the date
that is ten years after the adoption of the Plan by the Board, (i) terminate
this Plan or (ii) make such amendments to or modifications of the Plan as the
Board may deem advisable; provided, however, that no amendment authorized by the
Board will be effective unless approved by the shareholders of the Company if
the amendment would (i) increase the number of shares reserved for issuance
under the Plan; or (ii) amend or modify the Plan in any other way if such
amendment or modification requires approval by the shareholders of the Company
in order to comply with the requirements of Rule 16b-3 promulgated

                                       4
<PAGE>
under the Securities Exchange Act of 1934, as amended, or any other applicable
law, regulation or stock exchange or market system rule or requirement.

      B.    Effect of Amendment or Termination. Any amendment or termination of
the Plan shall not affect any options already granted under the Plan. Such
options shall remain in full force and effect as if the Plan had not been so
amended or terminated.

                            SECTION VIII. WITHHOLDING

      The grant of options hereunder and the issuance of shares pursuant thereto
is conditioned upon the Company's reservation of the right to withhold, in
accordance with any applicable law and from any compensation payable to a
Non-Employee Director, any taxes the Company determines that it is required to
withhold under federal, state or local law as a result of such grants or the
issuance of shares pursuant thereto. To the extent that such compensation, if
any, is insufficient to pay any taxes required to be so withheld, the Company
may, in its sole discretion, require a Non-Employee Director, as a condition to
issuance of such Shares, to pay in cash to the Company an amount sufficient to
cover such tax liability or otherwise to make arrangements satisfactory to the
Company to enable it to satisfy its withholding obligations under federal, state
and local law.

                            SECTION IX. MISCELLANEOUS

      A.    Rights to Continued Service. Nothing in this Plan or in any option
granted pursuant to this Plan shall confer on any individual any right to
continue as a Non-Employee Director.

      B.    Investment Undertakings. Until and unless the issuance of shares of
Common Stock pursuant to this Plan shall have been registered pursuant to the
1933 Act and applicable state securities laws, each Participant acquiring shares
of Common Stock under this Plan may be required, as a condition precedent to
such issuance, to execute and deliver to the Company a letter or certificate
containing such investment representations, agreements restricting sale
(including, without limitation, provision for stop transfer orders and
restrictive legend on stock certificates) and confirmation of other relevant
facts to support any exemption from the registration requirements under the 1933
Act and such state securities laws on which the Company intends to rely, all as
shall be deemed reasonably necessary by counsel for the Company and in such form
as such counsel shall determine.

      C.    Administration of the Plan. The Plan shall be administered by the
Board. The Board may at any time appoint a Committee consisting of not less than
two persons to administer the Plan on behalf of the Board, subject to such terms
and conditions as the Board may prescribe. The Board or its Committee shall have
the authority to make all determinations deemed necessary or advisable for the
administration of the Plan; provided, however, that the Board or its Committee
shall have no discretion to determine the selection of persons to whom options
will be granted, the frequency of option grants, the number of shares subject to
option grants (except in accordance with Section V.I. hereof), the exercise
prices of options or any other material terms of options. All decisions and
determinations of the Board or its Committee with respect to the Plan shall be
final and binding.

                      SECTION X. EFFECTIVENESS OF THE PLAN

      Effectiveness of the Plan shall be subject to approval by the shareholders
of the Company within 12 months after the date on which the Plan is adopted by
the Board of Directors; provided, however, that options may be granted pursuant
to the Plan subject to subsequent approval of the Plan by the Company's
shareholders. Such approval shall be given at a regular meeting of the
shareholders of the Company or at

                                       5
<PAGE>
a special meeting of the shareholders duly called and held for such purpose, or
by written consent of the shareholders in accordance with applicable law. Grants
of options made prior to shareholder approval of the Plan shall be subject to
the obtaining of such approval and, if such approval is not obtained as
aforesaid, such grants shall not be effective for any purpose.

                                      * * *

                            CERTIFICATE OF SECRETARY

      The undersigned Secretary of Tekelec, a California corporation (the
"Company"), hereby certifies that the foregoing is a true and correct copy of
the Company's Non-Employee Director Stock Option Plan as adopted by the Board of
Directors of the Company on March __, 2002 and as approved by the shareholders
of the Company on May __, 2002.

      IN WITNESS WHEREOF, the undersigned has executed this Certificate of
Secretary as of the date set forth below.

Date: May __, 2002                   _________________________________________
                                              Ronald W. Buckly, Secretary

                                       6
<PAGE>
                                  ATTACHMENT I

                                     TEKELEC

                     NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN

                             STOCK OPTION AGREEMENT

      Tekelec, a California corporation (the "Company"), hereby grants to
______________________________________ (the "Optionee") an option (the "Option")
to purchase a total of ____________________________________ (_________) shares
of Common Stock (the "Shares") of the Company, at the price set forth herein,
and in all respects subject to the terms and provisions of the Company's
Non-Employee Director Stock Option Plan (the "Plan"), which terms and provisions
are hereby incorporated by reference herein. Unless the context herein otherwise
requires, the terms defined in the Plan shall have the same meanings herein.

      1.    NATURE OF THE OPTION. This Option is intended to be a nonstatutory
stock option and is not intended to be an incentive stock option within the
meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the
"Code"), or to otherwise qualify for any special tax benefits to the Optionee.

      2.    DATE OF GRANT; TERM OF OPTION. This Option is granted as of
______________, and it may not be exercised later than ______________.

      3.    OPTION EXERCISE PRICE. The Option exercise price is $_________ per
Share, which price is not less than one hundred percent (100%) of the fair
market value thereof on the date this Option is granted.

      4.    EXERCISE OF OPTION. This Option shall be exercisable during its term
only in accordance with the terms and provisions of the Plan and this Option as
follows:

            (a)   RIGHT TO EXERCISE. This Option shall vest and become
exercisable, cumulatively, in four (4) equal quarterly installments of
_______________________ (______) Shares commencing on the last day of the
calendar quarter during which this Option is granted, with an additional
installment vesting on the last day of each of the three (3) calendar quarters
thereafter as long as the Optionee remains a Non-Employee Director.

            (b)   METHOD OF EXERCISE. This Option shall be exercisable by
written notice which shall state the election to exercise this Option, the
number of Shares in respect to which this Option is being exercised, and such
other representations and agreements as to the Optionee's investment intent with
respect to such Shares as may be required by the Company hereunder or pursuant
to the provisions of the Plan. Such written notice shall be signed by the
Optionee and shall be delivered in person or by certified mail to the Secretary
of the Company or such other person as may be designated by the Company. The
written notice shall be accompanied by payment of the purchase price and an
executed Stock Purchase Agreement if required by the Company. Payment of the
purchase price shall be by cash, check, the delivery of Shares owned by the
Optionee having a fair market value equal to the aggregate
<PAGE>
purchase price of the Shares being purchased, or any combination of such
consideration and methods of payment. The purchase price may also be paid by
consideration received by the Company under any cashless exercise program
acceptable to the Company in connection with the Plan. The certificate or
certificates for the Shares as to which the Option shall be exercised shall be
registered in the name of the Optionee and shall be legended as set forth in the
Plan, the Stock Purchase Agreement, and/or as required under applicable law.

            (c)   RESTRICTIONS ON EXERCISE. This Option may not be exercised if
the issuance of the Shares upon such exercise would constitute a violation of
any applicable federal or state securities laws or other laws or regulations. As
a condition to the exercise of this Option, the Company may require the Optionee
to make any representation and warranty to the Company as may be required by any
applicable law or regulation.

      5.    TERMINATION OF STATUS AS A NON-EMPLOYEE DIRECTOR.

            (a)   If the Optionee ceases to serve as a Non-Employee Director for
any reason other than death or Disability, the Optionee shall have the right to
exercise this Option at any time within 90 days after the date of such
termination to the extent that the Optionee was entitled to exercise this Option
at the date of such termination. To the extent that the Optionee was not
entitled to exercise the Option at the date of termination, or to the extent
this Option is not exercised within such 90 day period, this Option shall
terminate. Notwithstanding the foregoing, this Option shall not be exercisable
after the expiration of the term set forth in Section 2 hereof.

            (b)   If the Optionee ceases to serve as a Non-Employee Director due
to death or Disability, the Optionee (or the personal representative of the
Optionee if the Optionee has died) shall have the right to exercise this Option
at any time within 12 months after the date of such termination to the extent
that the Optionee was entitled to exercise the Option at the date of such
termination. To the extent that the Optionee was not entitled to exercise this
Option at the date of termination, or to the extent this Option is not exercised
within such 12 month period, this Option shall terminate. Notwithstanding the
foregoing, this Option shall not be exercisable after the expiration of the term
set forth in Section 2 hereof.

      6.    NONTRANSFERABILITY OF OPTION. This Option may not be sold, pledged,
assigned, hypothecated, gifted, transferred or disposed of in any manner, other
than by will or by the laws of descent or distribution or pursuant to a transfer
between spouses incident to a divorce. This Option may be exercised during the
lifetime of the Optionee only by the Optionee. Subject to the foregoing and the
terms of the Plan, the terms of this Option shall be binding upon the executors,
administrators, heirs, successors and assigns of the Optionee.

      7.    CONTINUATION AS A DIRECTOR. This Option shall not confer upon the
Optionee any right to continue or be nominated as a director of the Company or
any of its subsidiaries or limit in any respect the right of the Company to
remove the Optionee as a director of the Company at any time.

      8.    WITHHOLDING. The Company reserves the right to withhold, in
accordance with any applicable laws, from any consideration payable to the
Optionee any taxes required to be withheld by federal, state or local law as a
result of the grant or exercise of this Option or the sale or other disposition
of the Shares issued upon exercise of this Option. If the amount of any
consideration payable to the Optionee is insufficient to pay such taxes or if no
consideration is payable to the Optionee, upon the request of the Company, the
Optionee shall pay to the Company an amount sufficient for the Company to

                                       2
<PAGE>
satisfy any federal, state or local tax withholding requirements it may incur as
a result of the grant or exercise of this Option or the sale or other
disposition of the Shares issued upon the exercise of this Option.

      9.    THE PLAN. This Option is subject to, and the Company and the
Optionee agree to be bound by, all of the terms and conditions of the Company's
Non-Employee Director Stock Option Plan as such Plan may be amended from time to
time in accordance with the terms thereof, provided that no such amendment shall
deprive the Optionee, without his or her consent, of this Option or any rights
hereunder.

Date:                                    Tekelec
     ---------------------------

                                         By:
                                            ------------------------------------

                                         Title:
                                               ---------------------------------

      The Optionee acknowledges receipt of a copy of the Tekelec Non-Employee
Director Stock Option Plan, a copy of which is attached hereto, and represents
that he or she has read and is familiar with the terms and provisions thereof,
and hereby accepts this Option subject to all of the terms and provisions
thereof. The Optionee hereby agrees to accept as binding, conclusive and final
all decisions or interpretations of the Board of Directors or its Committee upon
any questions arising under the Plan.

Date:
     ---------------------------         ---------------------------------------
                                                 Signature of Optionee

                                         ---------------------------------------
                                                        Address

                                         ---------------------------------------
                                         City           State           Zip Code

                                       3

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