Document:

EXHIBIT 4.1

                                  eGLOBE, INC.
                         1995 EMPLOYEE STOCK OPTION AND
                            APPRECIATION RIGHTS PLAN
                             AS AMENDED AND RESTATED

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                                TABLE OF CONTENTS

1.     Purpose  .......................................................      1
2.     General Provisions...............................................     1
3.     Eligibility......................................................     2
4.     Number of Shares Subject to Plan.................................     2
5.     Stock Options....................................................     2
6.     Stock Appreciation Rights........................................     6
7.     Effect of Changes in Capitalization..............................     8
8.     Nontransferability...............................................     9
9.     Amendment, Suspension, or Termination of Plan....................    10
10.    Effective Date...................................................    10
11.    Termination Date.................................................    10
12.    Resale of Shares Purchased.......................................    10
13.    Acceleration of Rights and Options...............................    10
14.    Written Notice Required; Tax Withholding.........................    11
15.    Compliance with Securities Laws..................................    11
16.    Waiver of Vesting Restrictions by Committee......................    12
17.    Reports to Participants..........................................    12
18.    No Employee Contract.............................................    12

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                                  eGLOBE, INC.
                         1995 EMPLOYEE STOCK OPTION AND
                            APPRECIATION RIGHTS PLAN
                             AS AMENDED AND RESTATED

     1. Purpose.  eGlobe, Inc. hereby establishes its 1995 Employee Stock Option
and Appreciation Rights Plan (the "Plan"). The purpose of the Plan is to advance
the interests of Executive  TeleCard,  Ltd. and its  subsidiaries  (collectively
"the Company") and the Company's  stockholders by providing a means by which the
Company  shall be able to attract  and  retain  competent  employees,  officers,
non-employee  directors,  consultants  and  advisors by  providing  them with an
opportunity  to  participate  in the increased  value of the Company which their
effort, initiative, and skill have helped produce.

     2. General Provisions.

     (a) The Plan will be  administered  by the  Compensation  Committee  of the
Board of Directors of the Company (the  "Committee"),  provided,  however,  that
except as otherwise  expressly  provided in this Plan or in order to comply with
Rule 16b-3 under the  Securities  Exchange  Act of 1934,  as now in effect or as
hereafter  amended (the "Exchange  Act"),  the Board of Directors of the Company
(the "Board") may exercise any power or authority granted to the Committee under
this Plan. The Committee shall be comprised of two or more directors  designated
by the Board.

     (b) The Committee  shall have full power to construe and interpret the Plan
and to establish and amend rules and  regulations  for its  administration.  Any
action of the Committee with respect to the Plan shall be taken by majority vote
or by the unanimous written consent of the Committee members.

     (c)  The  Committee  shall  determine,   in  its  sole  discretion,   which
participants under the Plan shall be granted stock options or stock appreciation
rights, the time or times at which options or rights are granted, as well as the
number  and  the  duration  of the  options  or  rights  which  are  granted  to
participants;  provided,  however, that no participant may be granted options to
purchase  more  than  500,000  shares of common  stock of the  Company  ("Common
Stock") under the Plan in any two (2) year period.

     (d) The  Committee  shall also  determine  any other  terms and  conditions
relating  to options  and rights  granted  under the Plan as the  Committee  may
prescribe, in its sole discretion.

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     (e) The Committee  shall make all other  determinations  and take all other
actions  which it deems  necessary or advisable  for the  administration  of the
Plan.

     (f) All decisions, determinations and interpretations made by the Committee
shall be binding and  conclusive  on all  participants  in the Plan and on their
legal representatives, heirs and beneficiaries.

     3. Eligibility. The Company's employees,  non-employee directors, advisors,
consultants  and  any  other  individual  whose  participation  in the  Plan  is
determined  to be in the best  interests  of the  Company by the Board  shall be
eligible to participate in the Plan and to receive options and rights hereunder,
provided, however, that Incentive Stock Options may only be granted to employees
of the Company or its subsidiaries.

     4. Number of Shares Subject to Plan. The aggregate  number of shares of the
Company's  Common Stock which may be granted to participants  shall be 7,000,000
shares,  subject to  adjustment  only as provided in Sections 5(h) and 7 hereof.
These  shares may consist of shares of the  Company's  authorized  but  unissued
Common  Stock or shares of the  Company's  authorized  and issued  Common  Stock
reacquired by the Company and held in its treasury or any  combination  thereof.
If an option  granted  under this Plan is  surrendered,  or for any other reason
ceases to be  exercisable in whole or in part, the shares as to which the option
ceases to be  exercisable  shall be  available  for options to be granted to the
same or other  participants  under the Plan, except to the extent that an option
is deemed  surrendered by the exercise of a tandem stock  appreciation right and
that right is paid by the Company in stock,  in which event the shares issued in
satisfaction of the right shall not be available for new options or rights under
the  Plan.  Further,  shares  issued  under  the Plan  through  the  settlement,
assumption or substitution of outstanding  awards or obligations to grant future
awards as a result of  acquiring  another  entity  shall not reduce the  maximum
number of shares available for delivery under the Plan.

     5. Stock Options.

     (a) Type of  Options.  Options  granted  may be either  Nonqualified  Stock
Options or Incentive  Stock  Options as  determined by the Committee in its sole
discretion  and as  reflected  in the Notice of Grant  issued by the  Committee.
"Incentive  Stock  Option"  means an option  intended to qualify as an incentive
stock option within the meaning of ss. 422 of the Internal  Revenue Code of 1986
(the  "Code").  "Nonqualified  Stock  Option"  means an option not  intended  to
qualify as an  Incentive  Stock  Option or an  Incentive  Stock  Option which is
converted to a Nonqualified Stock Option under Section 5(f) hereof.

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     (b) Option Price.  The price at which options may be granted under the Plan
shall be determined by the Committee at the time of grant as follows:

          (i) For  Incentive  Stock  Options the option  price shall be equal to
     100% of the Fair  Market  Value of the  stock  on the  date the  option  is
     granted; provided, however, that for Incentive Stock Options granted to any
     person who, at the time such option is granted, owns (as defined in ss. 422
     of the Code) shares  possessing  more than 10% of the total combined voting
     power of all classes of shares of the  Company or its parent or  subsidiary
     corporation, the option price shall be 110% of the Fair Market Value.

          (ii) For Nonqualified Stock Options the option price shall be not less
     than the par value of a share of the Stock covered by the Option.

          (iii) For  purposes of this Plan,  and except as  otherwise  set forth
     herein,  "Fair  Market  Value" shall mean:  (A) if there is an  established
     market  for  the  Company's  Common  Stock  on  a  stock  exchange,  in  an
     over-the-counter  market or  otherwise,  shall be the closing  price of the
     shares of Common Stock on such exchange or in such market (the highest such
     closing  price if there is more than one such  exchange  or  market) on the
     valuation  date, or (B) if there were no such sales on the valuation  date,
     then in accordance with Treas. Reg. ss. 20.2031-2 or successor regulations.
     Unless otherwise specified by the Committee at the time or grant (or in the
     formula  proposed for such grant,  if  applicable),  the valuation date for
     purposes of determining  Fair Market Value shall be the date of grant.  The
     Committee  (or the Board of  Directors  with respect to grants to Committee
     members  pursuant  to Section  5(g)  hereof may  specify in any grant of an
     option or stock  appreciation right that, instead of the date of grant, the
     valuation date shall be a valuation  period of up to ninety (90) days prior
     to the date of grant,  and Fair  Market  Value for  purposes  of such grant
     shall be the average over the valuation  period of the closing price of the
     shares of Common Stock on such exchange or in such market (the highest such
     closing  price if there is more than one such  exchange  or market) on each
     date on which sales were made in the valuation period,  provided,  however,
     that if the  Committee  (or the  Board of  Directors)  fails to  specify  a
     valuation  period  and there  were no sales on the date of grant  then Fair
     Market Value shall be determined as if the Committee had specified a thirty
     (30) day  valuation  period  for  such  determination,  unless  there is no
     established  market  for the  Company's  Common  Stock  in  which  case the
     determination  of Fair Market Value shall be in accordance  with clause (B)
     above.

     (c) Exercise of Option.  The right to purchase shares covered by any option
under  this Plan  shall be  exercisable  only in  accordance  with the terms and
conditions  of the  grant to the  participant.  Such  terms and  conditions  may
include a time period or schedule whereby some of the options granted may become
exercisable,  or "vested", over time and certain conditions,  such as continuous
service

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or specified  performance criteria or goals, must be satisfied for such vesting.
The  determination  as to  whether  to  impose  any  such  vesting  schedule  or
performance  criteria,  and the terms of such  schedule  or  criteria,  shall be
within the sole  discretion of the Committee.  These terms and conditions may be
different  for  different  participants  so  long  as all  options  satisfy  the
requirements of the Plan.

     The  exercise  of  options  shall be paid for in cash or in  shares  of the
Company's Common Stock, or any combination  thereof.  Shares tendered as payment
for option exercises shall, if acquired from the Company,  have been held for at
least six months and shall be valued at the Fair  Market  Value of the shares on
the date of exercise.  The Committee may, in its discretion,  agree to a loan by
the Company to one or more  participants of a portion of the exercise price (not
to exceed the  exercise  price minus the par value of the shares to be acquired,
if any) for up to three (3) years with interest payable at the prime rate quoted
in the Wall Street Journal on the date of exercise. Members of the Committee may
receive such loans from the Company for the exercise of their  options,  if any,
only with approval by the Board.

     The Committee may also permit a participant  to effect a net exercise of an
option  without  tendering any shares of the Company's  stock as payment for the
option.  In such an event,  the participant  will be deemed to have paid for the
exercise of the option with shares of the Company's stock and shall receive from
the Company a number of shares equal to the  difference  between the shares that
would have been  tendered  and the number of options  exercised.  Members of the
Committee  may effect a net exercise of their  options only with the approval of
the Board.

     The  Committee may also cause the Company to enter into  arrangements  with
one or more licensed stock  brokerage  firms whereby  participants  may exercise
options without payment therefor but with  irrevocable  orders to such brokerage
firm to  immediately  sell the number of shares  necessary  to pay the  exercise
price for the option and the withholding taxes, if any, and then to transmit the
proceeds  from such  sales  directly  to the  Company  in  satisfaction  of such
obligations.

     The Committee  may prescribe  forms which must be completed and signed by a
participant and tendered with payment of the exercise price in order to exercise
an option.

     (d) Duration of Options.  Unless  otherwise  prescribed by the Committee or
this Plan,  options granted  hereunder shall expire ten (10) years from the date
of grant, subject to early termination as provided in Section 5(f) hereof.

     (e)  Incentive  Stock Options  Limitations.  In no event shall an Incentive
Stock Option be granted to any person who, at the time such option is

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granted,  owns (as defined in ss. 422 of the Code) shares  possessing  more than
10% of the total  combined  voting power of all classes of shares of the Company
or of its parent or subsidiary corporation,  unless the option price is at least
110% of the Fair  Market  Value of the stock  subject  to the  Option,  and such
Option is by its terms not  exercisable  after the  expiration of five (5) years
from the date such Option is granted.  Moreover, the aggregate Fair Market Value
(determined as of the time that option is granted) of the shares with respect to
which  Incentive  Stock  Options  are  exercisable  for  the  first  time by any
individual  employee  during any single  calendar  year under the Plan shall not
exceed  $100,000.  In addition,  in order to receive the full tax benefits of an
Incentive Stock Option, the employee must not resell or otherwise dispose of the
stock  acquired upon exercise of the Incentive  Stock Option until two (2) years
after the date the option was granted and one (1) year after it was exercised.

     (f) Early Termination of Options.  In the event a participant's  employment
with  or  service  to the  Company  shall  terminate  as  the  result  of  total
disability,  as defined below, or the result of retirement at 65 years of age or
later,  then any options  granted to such  participant  shall  expire and may no
longer be exercised three (3) months after such termination.  If the participant
dies while employed or engaged by the Company, to the extent that the option was
exercisable at the time of the participant's  death, such option may, within one
year after the  participant's  death,  be  exercised by the person or persons to
whom the  participant's  rights  under the  option  shall pass by will or by the
applicable laws of descent and distribution;  provided,  however, that an option
may not be  exercised  to any  extent  after  the  expiration  of the  option as
originally granted. In the event a participant's employment or engagement by the
Company  shall  terminate  as the result of any  circumstances  other than those
referred to above, whether terminated by the participant or the Company, with or
without  cause,  then all options  granted to such  participant  under this Plan
shall terminate and no longer be exercisable as of the date of such termination,
provided, however, that if an employee with an Incentive Stock Option terminates
employment prior to its exercise,  but notwithstanding  such termination becomes
or  remains  a  non-employee  advisor,   consultant  or  director  eligible  for
Nonqualified  Stock  Options  hereunder  or any other  stock  option plan of the
Company,  then the Incentive  Stock Option shall be converted to a  Nonqualified
Stock  Option  on the date the  Incentive  Stock  Option  would  otherwise  have
terminated.  A change in a  participant's  status from one eligible  category to
another  (e.g.,  from an  employee to a  consultant)  without a break in service
shall not be  considered  a  termination  of that  participant's  employment  or
engagement for purposes hereof.

     An  employee  who is absent  from work with the  Company  because  of total
disability,  as  defined  below,  shall not by virtue of such  absence  alone be
deemed to have terminated such  participant's  employment with the Company.  All
rights  which  such  participant  would  have had to  exercise  options  granted
hereunder  will be  suspended  during  the  period  of such  absence  and may be
exercised

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cumulatively by such  participant upon his return to the Company so long as such
rights  are  exercised  prior to the  expiration  of the  option  as  originally
granted. For purposes of this Plan, "total disability" shall mean disability, as
a result of sickness or injury,  to the extent that the participant is prevented
from  engaging in any  substantial  gainful  activity  and is  eligible  for and
receives a disability benefit under Title II of the Federal Social Security Act.

     Notwithstanding the foregoing, the Committee may, in its discretion, permit
the exercise of an option after  termination  of a  participant's  employment or
engagement  by the  Company or during  any  absence  from work  because of total
disability.

     (g) Grants to Committee  Members.  The Committee shall have no authority to
make  grants to its  members  hereunder,  rather  the Board of  Directors  (with
members of the  Committee  abstaining)  shall have the  authority to make grants
under this Plan to members of the Committee.  Any designation of such grants may
be by means of a formula  specified  by the Board of  Directors  to award grants
automatically  at  a  stated  time.  Nothing  in  this  Section  5(g)  shall  be
interpreted to prohibit the Board of Directors  from granting  options or rights
to its members if the Board of Directors is administering the Plan in accordance
with Section 2(a) above.

     6. Stock Appreciation Rights.

     (a) Grant. Stock appreciation  rights may be granted by the Committee under
this  Plan  upon  such  terms  and  conditions  as it  may  prescribe.  A  stock
appreciation  right may be  granted  in  connection  with an  option  previously
granted  to or to be granted  under this Plan or may be granted by itself.  Each
stock  appreciation  right related to an option (a "Tandem  Right") shall become
nonexercisable  and be forfeited if the option to which it relates (the "Related
Option") is exercised.  "Stock  appreciation right" as used in this Plan means a
right to receive the excess of Fair Market Value, on the date of exercise,  of a
share of the Company's Common Stock on which an appreciation  right is exercised
over the  option  price  provided  for in the  related  option  and is issued in
consideration  of services  performed  for the Company or for its benefit by the
participant. Such excess is hereafter called "the differential."

     (b) Exercise of Stock Appreciation  Rights. Stock appreciation rights shall
be exercisable and be payable in the following manner:

          (i) A stock  appreciation  right not issued  with a Related  Option (a
     "Separate  Right") shall be exercisable at the time or times  prescribed by
     the Committee.  A Tandem Right shall be  exercisable by the  participant at
     the same  time or times  that the  Related  Option  could be  exercised.  A
     participant  wishing to  exercise  a stock  appreciation  right  shall give
     written  notice of

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     such  exercise to the Company.  Upon  receipt of such  notice,  the Company
     shall determine,  in its sole discretion,  whether the participant's  stock
     appreciation  rights  shall be paid in cash or in shares  of the  Company's
     Common Stock or any  combination  of cash and shares and  thereupon  shall,
     without  deducting  any  transfer  or  issue  tax,  deliver  to the  person
     exercising  such right an amount of cash or shares of the Company's  Common
     Stock or a combination thereof with a value equal to the differential.  The
     date the Company  receives the written notice of exercise  hereunder is the
     exercise date. The shares issued upon the exercise of a stock  appreciation
     right may consist of shares of the Company's authorized but unissued Common
     Stock or of its  authorized  and  issued  Common  Stock  reacquired  by the
     Company and held in its treasury or any combination  thereof. No fractional
     share of  Common  Stock  shall  be  issued;  rather,  the  Committee  shall
     determine  whether cash shall be given in lieu of such fractional  share or
     whether such fractional share shall be eliminated.

          (ii) The exercise of a Tandem Right shall automatically  result in the
     surrender  of the Related  Option by the  participant  on a share for share
     basis.  Likewise, the exercise of a stock option shall automatically result
     in the surrender of the related Tandem Right. Shares covered by surrendered
     options  shall be available  for granting  further  options under this Plan
     except to the  extent and in the  amount  that such  rights are paid by the
     Company with shares of stock, as more fully discussed in Section 4 hereof.

          (iii) The  Committee  may impose  any other  terms and  conditions  it
     prescribes  upon  the  exercise  of  a  stock  appreciation   right,  which
     conditions  may include a condition that the stock  appreciation  right may
     only be exercised in accordance with rules and  regulations  adopted by the
     Committee from time to time.

     (c)  Limitation on Payments.  Notwithstanding  any other  provision of this
Plan,  the Committee may from time to time  determine,  including at the time of
exercise,  the maximum  amount of cash or stock which may be given upon exercise
of any stock appreciation right in any year;  provided,  however,  that all such
amounts  shall  be paid in full no later  than  the end of the year  immediately
following the year in which the  participant  exercised such stock  appreciation
rights.  Any determination  under this paragraph may be changed by the Committee
from time to time provided that no such change shall require the  participant to
return to the  Company any amount  theretofore  received or to extend the period
within  which the Company is required to make full  payment of the amount due as
the result of the exercise of the participant's stock appreciation rights.

     (d) Expiration or termination of stock appreciation rights.

          (i) Each Tandem Right and all rights and obligations  thereunder shall
     expire on the date on which the Related Option expires or

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     terminates.  Each Separate Right shall expire on the date prescribed by the
     Committee.

     7. Effect of Changes in Capitalization

     (a) Changes in Common Stock. If the number of outstanding  shares of Common
Stock is increased  or  decreased  or changed into or exchanged  for a different
number or kind of shares or other  securities  of the  Company  by reason of any
recapitalization,  reclassification,  stock  split-up,  combination  of  shares,
exchange  of shares,  stock  dividend or other  distribution  payable in capital
stock, or other increase or decrease in such shares effected  without receipt of
consideration by the Company,  occurring after the effective date of the Plan, a
proportionate  and  appropriate  adjustment  shall be made by the Company in the
number and kind of shares for which  options  or stock  appreciation  rights are
outstanding,  so that the proportionate interest of the participant  immediately
following  such  event  shall,  to  the  extent  practicable,  be  the  same  as
immediately  prior to such event.  Any such  adjustment in  outstanding  options
shall not change the  aggregate  option  price  payable  with  respect to shares
subject to the unexercised portion of the option outstanding but shall include a
corresponding  proportionate  adjustment in the option price per share.  Similar
adjustments shall be made to the terms of stock appreciation rights.

     (b)  Reorganization  with the Company  Surviving.  Subject to Section  7(c)
hereof,  if the Company  shall be the  surviving  entity in any  reorganization,
merger or  consolidation  of the Company  with one or more other  entities,  any
option  theretofore  granted  pursuant to the Plan shall pertain to and apply to
the securities to which a holder of the number of shares of Common Stock subject
to  such  option   would  have  been   entitled   immediately   following   such
reorganization,  merger or  consolidation,  with a  corresponding  proportionate
adjustment  of the option  price per share so that the  aggregate  option  price
thereafter  shall  be the  same as the  aggregate  option  price  of the  shares
remaining subject to the option immediately prior to such reorganization, merger
or  consolidation.  Similar  adjustments  shall  be made to the  terms  of stock
appreciation rights.

     (c)  Other  Reorganizations,  Sale of  Assets  or  Common  Stock.  Upon the
dissolution or liquidation of the Company,  or upon a merger,  consolidation  or
reorganization  of the  Company  with one or more  other  entities  in which the
Company is not the surviving  entity, or upon a sale of substantially all of the
assets of the  Company to  another  person or  entity,  or upon any  transaction
(including,  without limitation, a merger or reorganization in which the Company
is the  surviving  entity)  approved by the Board that  results in any person or
entity  (other than  persons who are holders of stock of the Company at the time
the Plan is approved by the Stockholders and other than an Affiliate)  owning 80
percent  or more of the  combined  voting  power of all  classes of stock of the
Company, the Plan

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and all  options  and stock  appreciation  rights  outstanding  hereunder  shall
terminate,  except  to the  extent  provision  is made in  connection  with such
transaction  for the  continuation  of the Plan  and/or  the  assumption  of the
options  and  stock  appreciation   rights  theretofore   granted,  or  for  the
substitution for such options and stock  appreciation  rights of new options and
stock appreciation  rights covering the stock of a successor entity, or a parent
or subsidiary thereof,  with appropriate  adjustments as to the number and kinds
of shares  and  exercise  prices,  in which  event the Plan,  options  and stock
appreciation  rights theretofore  granted shall continue in the manner and under
the terms so provided.  In the event of any such  termination of the Plan,  each
participant shall have the right (subject to the general limitations on exercise
set forth in Section 5(d) hereof and except as otherwise  specifically  provided
in the option agreement  relating to such option or stock  appreciation  right),
immediately  prior to the occurrence of such  termination and during such period
occurring  prior to such  termination  as the  Committee in its sole  discretion
shall designate, to exercise such option or stock appreciation right in whole or
in part,  whether or not such option or stock  appreciation  right was otherwise
exercisable at the time such termination  occurs,  but subject to any additional
provisions that the Committee may, in its sole discretion, include in any option
agreement.  The Committee shall send written notice of an event that will result
in such a termination to all  participants  not later than the time at which the
Company gives notice thereof to its stockholders.

     (d)  Adjustments.  Adjustments  under this  Section 7 relating  to stock or
securities of the Company shall be made by the Committee, whose determination in
that respect shall be final and conclusive. No fractional shares of Common Stock
or units of other  securities  shall be issued pursuant to any such  adjustment,
and any fractions resulting from any such adjustment shall be eliminated in each
case by rounding downward to the nearest whole share or unit.

     (e) No Limitations on Company. The grant of an option or stock appreciation
right  pursuant  to the Plan  shall not  affect or limit in any way the right or
power of the Company to make adjustments, reclassifications,  reorganizations or
changes of its capital or business structure or to merge, consolidate,  dissolve
or liquidate, or to sell or transfer all or any part of its business or assets.

     8.  Nontransferability.  During  a  participant's  lifetime,  a right or an
option may be exercisable  only by the  participant.  options and rights granted
under the Plan and the  rights and  privileges  conferred  thereby  shall not be
subject to execution,  attachment or similar process and may not be transferred,
assigned,  pledged or hypothecated in any manner (whether by operation of law or
otherwise)  other  than  by  will  or by the  applicable  laws  of  descent  and
distribution.   Notwithstanding  the  foregoing,  to  the  extent  permitted  by
applicable  law and, if the Company has a class of securities  registered  under
the Exchange  Act, by Exchange Act Rule 16b-3,  the  Committee  may, in its sole
discretion,  (i) permit a recipient of a Nonqualified  Stock Option to designate
in writing during the participant's lifetime

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a  beneficiary  to receive and exercise  the  participant's  Nonqualified  Stock
Options in the event of such participant's  death (as provided in Section 5(f)),
(ii) grant  Nonqualified  Stock Options that are  transferable  to the immediate
family,  a family  trust of the  participant  or any other legal entity in which
immediate  family  members  own or hold  the only  interests  and  (iii)  modify
existing  Nonqualified Stock Options to be transferable to the immediate family,
a family trust or a family legal entity of the participant. Any other attempt to
transfer,  assign,  pledge,  hypothecate  or otherwise  dispose of any option or
right under the Plan, or of any right or privilege  conferred thereby,  contrary
to the provisions of the Plan shall be null and void.

     9.  Amendment,  Suspension,  or  Termination  of Plan. The Committee or the
Board of Directors  may at any time suspend or terminate  the Plan and may amend
it from time to time in such  respects as the  Committee  may deem  advisable in
order that options and rights granted  hereunder  shall conform to any change in
the law, or in any other respect which the Committee or the Board may deem to be
in the best interests of the Company; provided,  however, that no such amendment
shall, without the participant's  consent,  alter or impair any of the rights or
obligations under any option or stock appreciation rights theretofore granted to
him or her under the Plan; and provided  further that no such  amendment  shall,
without shareholder approval,  increase the total number of shares available for
grants of options or rights  under the Plan  (except  as  provided  by Section 7
hereof).

     10. Effective Date. The effective date of the Plan is December 14, 1995.

     11.   Termination  Date.  Unless  this  Plan  shall  have  been  previously
terminated  by the  Committee,  this Plan shall  terminate on December 14, 2005,
except as to stock, options and rights theretofore granted and outstanding under
the Plan at that date, and no stock, option or right shall be granted after that
date.

     12. Resale of Shares  Purchased.  All shares of stock  acquired  under this
Plan may be freely resold,  subject to applicable  state and federal  securities
laws  restricting  their  transfer.  As a  condition  to  exercise of an option,
however, the Company may impose various conditions, including a requirement that
the person  exercising  such option  represent  and warrant that, at the time of
such exercise,  the shares of Common Stock being  purchased are being  purchased
for  investment  and not  with a view to  resale  or  distribution  thereof.  In
addition,  the resale of shares  purchased upon the exercise of Incentive  Stock
Options may cause the  employee to lose  certain  tax  benefits if the  employee
fails to comply with the holding period  requirements  described in Section 5(e)
hereof.

     13.  Acceleration of Rights and Options. If the Company or its shareholders
enter into an agreement to dispose of all or substantially all of the

                                       10

<PAGE>

assets  or  stock  of  the  Company  by  means  of  a  sale,   merger  or  other
reorganization,  liquidation, or otherwise, any right or option granted pursuant
to the Plan shall become  immediately  and fully  exercisable  during the period
commencing  as of the date of the  agreement to dispose of all or  substantially
all of the assets or stock of the  Company and ending  when the  disposition  of
assets or stock  contemplated  by that agreement is consummated or the option is
otherwise  terminated in accordance with its provisions or the provisions of the
Plan,  whichever  occurs  first;  provided  that no  option  or  right  shall be
immediately exercisable under this Section on account of any agreement of merger
or other reorganization where the shareholders of the Company immediately before
the  consummation of the transaction  will own 50% or more of the total combined
voting power of all classes of stock  entitled to vote of the  surviving  entity
(whether the Company or some other entity) immediately after the consummation of
the  transaction.  In the event the  transaction  contemplated  by the agreement
referred  to in this  section  is not  consummated,  but  rather is  terminated,
canceled or expires,  the options and rights granted  pursuant to the Plan shall
thereafter  be treated as if that  agreement had never been entered into. In the
event any provision of the Plan or any option or right  granted  pursuant to the
Plan would  prevent the use of pooling of  interests  accounting  in a corporate
transaction  involving  the  Company and such  transaction  is  contingent  upon
pooling of interests accounting,  then that provision shall be deemed amended or
revoked to the extent  required  to  preserve  such  pooling of  interests.  The
Company may require in any agreement that an optionee who receives a grant under
the Plan shall,  upon advice from the Company,  take (or refrain from taking, as
appropriate)  all actions  necessary  or  desirable  to ensure  that  pooling of
interests accounting is available.

     14. Written Notice Required;  Tax Withholding.  Any option or right granted
pursuant to the Plan shall be exercised  when written notice of that exercise by
the  participant  has been received by the Company at its principal  office and,
with respect to options,  when full payment for the shares with respect to which
the option is exercised has been  received by the Company.  By accepting a grant
under the Plan, each  participant  agrees that, if and to the extent required by
law, the Company  shall  withhold or require the payment by  participant  of any
state, federal or local taxes resulting from the exercise of an option or right;
provided,  however,  that to the extent permitted by law, the Committee (or, for
Committee members, the Board) may in its discretion,  permit some or all of such
withholding obligation to be satisfied by the delivery by the participant of, or
the retention by the Company of, shares of its Common Stock.

     15.  Compliance  with  Securities  Laws.  Shares  shall not be issued  with
respect to any option or right  granted  under the Plan  unless the  exercise of
that option and the issuance and delivery of the shares  pursuant  thereto shall
comply with all relevant  provisions of state and federal law, including without
limitation  the Securities  Act of 1933, as amended,  the rules and  regulations
promulgated  thereunder and the  requirements of any stock exchange or automated

                                       11

<PAGE>

quotation  system upon which shares of the Company's stock may then be listed or
traded,  and shall be further subject to the approval of counsel for the Company
with respect to such compliance.  Further,  each participant must consent to the
imposition  of a legend on the  certificate  representing  the  shares of Common
Stock  issued  upon  the  exercise  of the  option  or right  restricting  their
transferability as may be required by law, the option or right, or the Plan.

     16.  Waiver of  Vesting  Restrictions  by  Committee.  Notwithstanding  any
provision of the Plan,  the  Committee  shall have the  discretion  to waive any
vesting  restrictions  on the  participant's  options  or  rights,  or the early
termination thereof.

     17. Reports to Participants.  The Company shall furnish to each participant
a copy of the annual report,  if any, sent to the Company's  shareholders.  Upon
written  request,  the Company shall  furnish to each  participant a copy of its
most recent annual report and each quarterly report to shareholders issued since
the end of the Company's most recent fiscal year.

     18. No Employee  Contract.  The grant of  restricted  stock or an option or
right  under the Plan  shall not  confer  upon any  participant  any right  with
respect to  continuation  of  employment  by, or the  rendition  of  advisory or
consulting services to, the Company,  nor shall it interfere in any way with the
Company's  right to terminate  the  participant's  employment or services at any
time.

     As adopted by the Board of  Directors  of the Company on December 14, 1995,
as approved by  stockholders  on July 26,  1996,  as amended and restated by the
Board of Directors on October 25, 1997,  as amended and restated by the Board of
Directors on January 17, 1998 and as approved by  stockholders  (with respect to
the increase in the number of shares) on February 26, 1998,  as further  amended
and  restated by the Board of  Directors  on May 14, 1999 and as approved by the
stockholders  (with respect to the increase in the number of shares) on June 16,
1999, and as further  amended and restated by the Board of Directors on December
16, 1999 and as approved by the  stockholders  (with  respect to the increase in
the number of shares) on March 23, 2000.

                                     eGlobe, Inc.

                                     By:______________________________

                                       12EXHIBIT 4.3

  SECOND AMENDMENT TO RIGHTS AGREEMENT, DATED AS OF APRIL 19, 2000, BETWEEN NBT
    BANCORP INC. AND AMERICAN STOCK TRANSFER TRUST COMPANY AS RIGHTS AGENT.

                      SECOND AMENDMENT TO RIGHTS AGREEMENT

         SECOND AMENDMENT dated as of April 19, 2000 (this "Second  Amendment"),
to the RIGHTS AGREEMENT dated as of November 15, 1994, as amended as of December
16, 1999 (the  "Agreement"),  between NBT Bancorp  Inc., a Delaware  corporation
(the  "Corporation"),  and American  Stock  Transfer  Trust Company (the "Rights
Agent").

         WHEREAS,  the Corporation and the Agent have entered into the Agreement
at the direction of the Corporation; and

         WHEREAS,  the  Distribution  Date (as defined in the Agreement) has not
occurred and the  penultimate  sentence of Section 26(a) of the Agreement is not
applicable to this Amendment; and

         WHEREAS,   Section  27  of  the  Rights  Agreement  provides  that  the
Corporation  may from time to time  supplement or amend the Rights  Agreement in
accordance with the terms of Section 27; and

         WHEREAS, the Corporation and BSB Bancorp,  Inc., a Delaware corporation
("BSB"),  have entered into an Agreement  and Plan of Merger,  dated as of April
19,  2000  (the  "Merger  Agreement"),  pursuant  to which BSB will  merge  (the
"Merger") with and into the Corporation; and

         WHEREAS,  in connection with the Merger Agreement,  the Corporation and
BSB have  entered  into a Stock  Option  Agreement,  dated  April 19,  2000 (the
"Option  Agreement"),  pursuant to which the  Corporation  has granted to BSB an
option to  purchase  shares of the  Corporation's  Common  Stock  under  certain
circumstances and upon certain terms and conditions; and

         WHEREAS,  the Board of Directors has determined  that the  transactions
contemplated by the Merger Agreement are advisable; and

         WHEREAS,  the Board of Directors has determined that it is advisable to
amend the Rights Agreement to exempt the Merger Agreement,  the Option Agreement
and the transactions  contemplated thereby (including,  without limitation,  the
option granted  pursuant to the Option  Agreement)  from the  application of the
Rights Agreement; and

         WHEREAS,  the Board of  Directors of the  Corporation  has approved and
adopted  this  Amendment  and  directed  that  the  proper   officers  take  all
appropriate steps to execute and put into effect this Amendment.

         NOW, THEREFORE, the Agreement is amended as follows (terms used and not
defined herein have the meanings as defined in the Agreement):

 1.               Section  1(a) of the  Rights  Agreement  is hereby  amended by
                  inserting the following sentence at the end thereof:

                  "Notwithstanding  anything in this  Agreement to the contrary,
         until the  termination  of both the BSB  Merger  Agreement  and the BSB
         Stock Option Agreement (each as defined below) in accordance with their
         respective  terms,  neither BSB Bancorp,  Inc., a Delaware  corporation
         ("BSB"),  nor any Affiliate or Associate of BSB (collectively with BSB,
         the "BSB Parties") shall be deemed to be an Acquiring  Person by virtue
         of the fact that BSB is the Beneficial Owner solely of shares of Common
         Stock (i) of which any BSB Party is or becomes the Beneficial  Owner by
         reason of the

<PAGE>

         approval,  execution or delivery of the  Agreement  and Plan of Merger,
         dated as of April 19, 2000, by and between the  Corporation and BSB, as
         may be amended from time to time (the "BSB Merger  Agreement"),  or the
         Stock Option Agreement,  dated April 19, 2000, between the Corporation,
         as issuer,  and BSB,  as grantee,  as may be amended  from time to time
         (the "BSB Stock Option Agreement"), or by reason of the consummation of
         any transaction contemplated in the BSB Merger Agreement, the BSB Stock
         Option Agreement or both, (ii) of which any BSB Party is the Beneficial
         Owner on the date  hereof,  (iii)  acquired  in  satisfaction  of debts
         contracted  prior to the date  hereof by any BSB Party in good faith in
         the ordinary course of such BSB Party's banking business,  (iv) held by
         any BSB Party in a bona fide fiduciary or depository  capacity,  or (v)
         owned in the  ordinary  course of business by either (A) an  investment
         company  registered  under  the  Investment  Company  Act of  1940,  as
         amended, or (B) an investment account, in either case for which any BSB
         Party acts as investment advisor."

 2.               Section 15 of the Rights  Agreement  is hereby  amended to add
                  the following sentence at the end thereof:

                  "Nothing  in this  Agreement  shall be  construed  to give any
         holder of Rights or any other  Person  any legal or  equitable  rights,
         remedies  or  claims  under  this  Agreement  in  connection  with  any
         transactions  contemplated by the BSB Merger Agreement or the BSB Stock
         Option Agreement."

 3.               This  Amendment  shall be deemed to be in force and  effective
                  immediately  prior to the execution and delivery of the Merger
                  Agreement.  Except as amended  hereby,  the  Rights  Agreement
                  shall  remain in full force and effect and shall be  otherwise
                  unaffected hereby.

 4.               The  provisions  of  Sections  27,  29,  30, 31, and 33 of the
                  Agreement  shall  apply  to  this  Amendment  as if set  forth
                  herein.

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the day and year first above written.

                     NBT BANCORP INC.

                     By:    /s/  DARYL R. FORSYTHE
                          ----------------------------------
                                 Daryl R. Forsythe
                              President and Chief Executive Officer

                     AMERICAN STOCK TRANSFER TRUST COMPANY, as
                     Rights Agent

                     By:     /s/  HERBERT J. LEMMER
                          -----------------------------------
                                  Herbert J. Lemmer
                                     Vice President

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