Document:

EXHIBIT 10.1

                         THE BEAR STEARNS COMPANIES INC.
                                STOCK AWARD PLAN

      (Amended and Restated as of March 31, 2004 and Further Amended as of
                                 April 18, 2007)

   1. Purpose. The purpose of The Bear Stearns Companies Inc. Stock Award Plan
(the "Plan") is to secure for The Bear Stearns Companies Inc. and its successors
and assigns (the "Company") and its stockholders the benefits of the additional
incentive, inherent in the ownership of the Company's common stock, par value
$1.00 per share (the "Common Stock"), by selected key employees of the Company
and its subsidiaries who are important to the success and growth of the business
of the Company and its subsidiaries and to help the Company and its subsidiaries
secure and retain the services of such persons. Compensation awarded under the
Plan is intended to qualify for tax deductibility pursuant to the requirements
of Section 162(m) of the Internal Revenue Code of 1986, as amended from time to
time or any successor statute or statutes (the "Code"), to the extent deemed
appropriate by the Committee (as defined in Paragraph 2.1).

   Pursuant to the Plan, such employees will be offered the opportunity to
acquire Common Stock through the grant of options and stock appreciation rights
in tandem with such options. Options granted under the Plan will be either
"incentive stock options", intended to qualify as such under the provisions of
Section 422 of the Code, or "nonqualified stock options". For purposes of the
Plan, the terms "parent" and "subsidiary" shall mean "parent corporation" and
"subsidiary corporation", respectively, as such terms are defined in Sections
424(e) and (f) of the Code.

   2. Committee.

      2.1 Administration. The Plan shall be administered by the Compensation
Committee of the Board of Directors of the Company (the "Committee"). Any
vacancy on the Committee, whether due to action of the Board of Directors or due
to any other cause, may be filled, and shall be filled if required to maintain a
Committee of at least two disinterested persons, by resolution adopted by the
Board of Directors. For purposes of the Plan, a person shall be deemed to be a
"disinterested person" if, at the time of reference, such person is not, and has
not been at any time during the preceding one-year period, eligible to
participate in the Plan or any other plan of the Company or any of its
affiliates entitling participants therein to acquire stock, stock options or
stock appreciation rights of the Company or any of its affiliates.
Notwithstanding any of the foregoing, the Board of Directors may designate one
or more persons, who at the time of such designation are not disinterested
persons, to serve on the Committee effective upon the date such person or
persons qualify as disinterested persons.

      2.2 Procedures. The Committee shall select one of its members as Chairman
and shall adopt such rules and regulations as it shall deem appropriate
concerning the holding of its meetings and the administration of the Plan. A
majority of the whole Committee shall constitute a quorum, and the acts of a
majority of the members of the Committee present at a meeting at which a quorum
is present, or acts approved in writing by all of the members of the Committee,
shall be the acts of the Committee.

      2.3 Interpretation. The Committee shall have full power and authority to
interpret the provisions of the Plan and any agreement evidencing options
granted under the Plan, and to determine any and all questions arising under the
Plan, and its decisions shall be final and binding on all participants in the
Plan.

   3. Shares Subject to Grants.

      3.1 Number of Shares. Subject to the provisions of Paragraph 17 (relating
to adjustments upon changes in capitalization), the number of shares of Common
Stock subject at any one time to options granted under the Plan, plus the number
of shares of Common Stock theretofore issued or delivered pursuant to the
exercise of options granted under the Plan, shall not exceed 45,000,000 shares.
If and to the extent that options granted under the Plan terminate, expire or
are cancelled without having been exercised, new options may be granted under
the Plan with respect to the shares of Common Stock covered by such terminated,
expired or cancelled options; provided, that the granting and terms of such new
options shall in all respects comply with the provisions of the Plan.

      3.2 Character of Shares. Shares of Common Stock delivered under the Plan
may be authorized and unissued Common Stock, issued Common Stock held in the
Company's treasury, or both.

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      3.3 Reservation of Shares. There shall be reserved at all times for sale
or award under the Plan a number of shares of Common Stock (authorized and
unissued Common Stock, issued Common Stock held in the Company's treasury, or
both) equal to the maximum number of shares set forth in Paragraph 3.1.

   4. Employees Eligible. Options may be granted under the Plan to any key
employee of the Company or any of its subsidiaries, or to any prospective key
employee of the Company or any of its subsidiaries, conditioned upon, and
effective not earlier than, such person's becoming an employee. Directors and
executive officers shall be eligible to receive grants under the Plan only if
they are also key employees of the Company or any of its subsidiaries.
Notwithstanding the foregoing:

         (a) No member of the Committee, while serving as such, shall be
      eligible to receive any grants under the Plan and no person designated by
      the Board of Directors pursuant to Paragraph 2.1 to serve on the Committee
      effective at the time he or she qualifies as a disinterested person shall
      be eligible to receive any grants under the Plan during the period from
      the date such designation is made to the date such designation becomes
      effective.

         (b) No incentive stock options may be granted under the Plan to any
      person who owns, directly or indirectly (within the meaning of Sections
      422(b)(6) and 424(d) of the Code), at the time the incentive stock option
      is granted, stock possessing more than 10% of the total combined voting
      power of all classes of stock of the employee's employer corporation or of
      its parent, if any, or any of its subsidiaries, unless the option price is
      at least 110% of the fair market value of the shares subject to the
      option, determined on the date of the grant, and the option by its terms
      is not exercisable after the expiration of five years from the date such
      option is granted.

         (c) In each calendar year during any part of which the Plan is in
      effect, no Participant (as defined below) may be granted options relating
      in the aggregate to more than 1,000,000 shares of Common Stock, subject to
      adjustment as provided in Paragraph 17.

   An individual receiving any option under the Plan is hereinafter referred to
as a "Participant". Any reference herein to the employment of a Participant by
the Company shall include (i) his or her employment by the Company or any of its
subsidiaries, and (ii) with respect to a Participant who was not an employee of
the Company or any of its subsidiaries at the time of grant of his or her
option, his or her period of service in the capacity for which the option was
granted. For all purposes of this Plan, the time at which an option is granted,
in the case of the grant of an option to a key employee shall be deemed to be
the effective date of such grant.

   5. Grant of Options. The Committee shall determine, within the limitations of
the Plan, the persons to whom options are to be granted, the number of shares
that may be purchased under each option, the option price, and shall designate
options at the time of grant as either "incentive stock options" or
"nonqualified stock options"; provided, that the aggregate fair market value
(determined as of the time the option is granted) of the Common Stock with
respect to which incentive stock options become exercisable for the first time
by any Participant (as defined in Paragraph 4) in any calendar year (under all
stock option plans of the employee's employer corporation and its parent, if
any, and its subsidiaries) shall not exceed $100,000 (the provisions of Section
422(d) of the Code are intended to govern). In determining the persons to whom
options shall be granted and the number of shares to be covered by each option,
the Committee shall take into consideration the person's present and potential
contribution to the success of the Company and its subsidiaries and such other
factors as the Committee may deem proper and relevant. Each option granted under
the Plan shall be evidenced by a written agreement between the Company and the
Participant containing such terms and conditions and in such form, not
inconsistent with the provisions of the Plan or, with respect to incentive stock
options, Section 422 of the Code, as the Committee shall provide.

   6. Option Price. Subject to Paragraph 17, the option price of each share of
Common Stock purchasable under any incentive stock option or non-qualified stock
option granted under the Plan shall not be less than the fair market value of
such share of Common Stock at the time the option is granted. The option price
of an option issued in a transaction described in Section 424(a) of the Code
shall be an amount which conforms to the requirements of that Section and the
regulations thereunder.

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   For purposes of this Plan, the "fair market value" of the Common Stock on any
date means (i) if the Common Stock is listed on a national securities exchange
or quotation system, the closing sales price on such exchange or quotation
system on such date or, in the absence of reported sales on such date, the
closing sales price on the immediately preceding date on which sales were
reported, or (ii) if the Common Stock is not listed on a national securities
exchange or quotation system the fair value as determined by such other method
as the Committee determines in good faith to be reasonable.

   7. Stock Appreciation Right. The Committee, in its sole discretion, may in
connection with the grant of any option also grant to the Participant a stock
appreciation right. Such stock appreciation right shall be granted by the
Committee simultaneously with the grant of the related stock option. A stock
appreciation right shall be exercised in the manner provided in Paragraph 9, and
shall result in the cancellation of options on shares with respect to which the
Participant exercises a stock appreciation right, and, upon such exercise, the
Company shall pay to the Participant an amount equal to the excess of the fair
market value of such shares with respect to which options are cancelled on the
date of exercise over the option price of such shares. A stock appreciation
right shall be exercisable to the same extent and under the same conditions as
the underlying option, except that a stock appreciation right granted in
connection with an incentive stock option may be exercised only when the fair
market value of the shares subject to the option exceeds the option price of
such shares. Payments on the exercise of stock appreciation rights shall be made
by the Company in cash to the Participant as soon as practicable following
exercise.

   8. Exercisability and Duration of Options.

      8.1 Determination of Committee; Acceleration. Each option granted under
the Plan shall be exercisable at such time or times, or upon the occurrence of
such event or events, and in such amounts, as the Committee shall specify in the
agreement evidencing the option. Subsequent to the grant of an option which is
not immediately exercisable in full, the Committee, at any time before complete
termination of such option, may accelerate the time or times at which such
option may be exercised in whole or in part.

      8.2 Automatic Termination. The unexercised portion of any option granted
under the Plan shall automatically and without notice terminate and become null
and void at the time of the earliest to occur of the following:

         (a) The expiration of ten years from the date on which such option was
      granted;

         (b) The expiration of 30 days from the date of termination of the
      Participant's employment by the Company unless a longer period is provided
      by the Committee (other than a termination described in subparagraph (c)
      below or in the event of termination as a result of death, in which case
      expiration will be at the end of the term set forth in the option
      agreement or such other time specified therein);

         (c) The termination of the Participant's employment by the Company if
      such termination constitutes or is attributable to a breach by the
      Participant of an employment or consulting agreement with the Company or
      any of its subsidiaries, or if the Participant is discharged or his or her
      services are terminated for cause; or

         (d) The expiration of such period of time or the occurrence of such
      event as the Committee in its discretion may provide upon the granting
      thereof.

   The Committee or the Board of Directors shall have the right to determine
what constitutes cause for discharge or termination of services, whether the
Participant has been discharged or his or her services terminated for cause and
the date of such discharge or termination of services, and such determination of
the Committee or the Board of Directors shall be final and conclusive.

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   9. Exercise of Options, Stock Appreciation Rights. Options and stock
appreciation rights granted under the Plan shall be exercised by the Participant
(or by his or her executors or administrators, as provided in Paragraph 10) as
to all or part of the shares covered thereby, by the giving of written notice of
exercise to the Company, specifying the number of shares to be purchased or the
number of shares with respect to which stock appreciation rights are being
exercised, accompanied, in the case of an option, by payment of the full
purchase price for the shares being purchased. Payment of such purchase price
shall be made (a) by check payable to the Company, (b) with the consent of the
Committee, by delivery of shares of Common Stock already owned by the
Participant for at least six months (which may include shares received as the
result of a prior exercise of an option) having a fair market value (determined
as of the date such option is exercised) equal to all or part of the aggregate
purchase price, (c) in accordance with a "cashless exercise" program established
by the Committee in its sole discretion under which if so instructed by the
Participant, shares may be issued directly to the Participant's broker or dealer
upon receipt of the purchase price in cash from the broker or dealer, (d) by any
combination of (a), (b), or (c) above, or (e) by other means that the Committee
deems appropriate. Such notice of exercise, accompanied by such payment, shall
be delivered to the Company at its principal business office or such other
office as the Committee may from time to time direct, and shall be in such form,
containing such further provisions consistent with the provisions of the Plan,
as the Committee may from time to time prescribe. The date of exercise shall be
the date of the Company's receipt of such notice. The Company shall effect the
transfer of the shares so purchased to the Participant (or such other person
exercising the option pursuant to Paragraph 10 hereof) as soon as practicable.
No Participant or other person exercising an option shall have any of the rights
of a stockholder of the Company with respect to shares subject to an option
granted under the Plan until due exercise and full payment has been made as
provided above. No adjustment shall be made for cash dividends or other rights
for which the record date is prior to the date of such due exercise and full
payment. In no event may any option granted hereunder be exercised for a
fraction of a share.

   10. Non-Transferability of Options. Except as provided herein, no option
granted under the Plan or any right evidenced thereby shall be transferable by
the Participant other than by will or by the laws of descent and distribution,
and an option may be exercised, during the lifetime of a Participant, only by
such Participant. Notwithstanding the preceding sentence: (a) in the event of a
Participant's death during his or her employment by the Company, its parent, if
any, or any of its subsidiaries, or during the 30 day period following the date
of termination of such employment, his or her options shall thereafter be
exercisable, during the period set forth in the option agreement, or, if no
period is specifically set forth, during the remaining term of the option, by
his or her executors or administrators; and (b) the Participant, with the
approval of the Committee, may transfer his or her options (other than incentive
stock options) for no consideration to or for the benefit of the Participant's
spouse, parents, children (including stepchildren or adoptive children),
grandchildren, or siblings, or to a trust for the benefit of any of such
persons.

   11. Reload Options. At the time an option (the "original option") is granted,
the Committee may also authorize the grant of a "reload option", which shall be
subject to the following terms:

         (a) The number of shares of Common Stock subject to the reload option
      shall be the number of shares, if any, used by the Participant to pay the
      purchase price upon exercise of the original option, plus the number of
      shares, if any, delivered by the Participant to satisfy the tax
      withholding requirement relating to such exercise.

         (b) The reload option shall be a nonqualified stock option.

         (c) The grant of the reload option shall be effective upon the date of
      exercise of the original option, and the term of the reload option shall
      be the period, if any, remaining from that date to the date upon which the
      original option would have expired.

         (d) The grant of the reload option shall not be effective if, on the
      date of exercise of the original option, the Participant is not employed
      by the Company.

         (e) Except as specified in (a) through (d) above, the terms of the
      reload option shall be as prescribed in the preceding Paragraphs of this
      Plan.

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   12. Withholding Tax. Whenever under the Plan shares of stock are to be
delivered upon exercise of a nonqualified stock option, the Company shall be
entitled to require as a condition of delivery that the Participant remit or, in
appropriate cases, agree to remit when due an amount sufficient to satisfy all
federal, state and local withholding tax requirements relating thereto. At the
option of the Company, such amount may be remitted by check payable to the
Company, in shares of Common Stock (which may include shares received as the
result of a prior exercise of an option), by the Company's withholding of shares
of Common Stock issuable upon the exercise of any option or stock appreciation
right pursuant to the Plan, or any combination thereof. Whenever an amount shall
become payable to a Participant in connection with the exercise of a stock
appreciation right, the Company shall be entitled to withhold therefrom an
amount sufficient to satisfy all federal, state and local withholding tax
requirements relating to such amount.

   13. Restrictions on Delivery and Sale of Shares. Each option granted under
the Plan is subject to the condition that if at any time the Committee, in its
discretion, shall determine that the listing, registration or qualification of
the shares covered by such option upon any securities exchange or under any
state or federal law is necessary or desirable as a condition of or in
connection with the granting of such option or the purchase or delivery of
shares thereunder, the delivery of any or all shares pursuant to exercise of the
option may be withheld unless and until such listing, registration or
qualification shall have been effected. The Committee may require, as a
condition of exercise of any option that the Participant represent, in writing,
that the shares received are being acquired for investment and not with a view
to distribution and agree that the shares will not be disposed of except
pursuant to an effective registration statement, unless the Company shall have
received an opinion of counsel satisfactory to the Company that such disposition
is exempt from such requirement under the Securities Act of 1933. The Committee
may require that the sale or other disposition of any shares acquired upon
exercise of an option hereunder shall be subject to a right of first refusal in
favor of the Company, which right shall permit the Company to repurchase such
shares from the Participant or his or her representative prior to their sale or
other disposition at their then current fair market value in accordance with
such terms and conditions as shall be specified in the agreement evidencing the
grant of the option. The Company may endorse on certificates representing shares
issued upon the exercise of an option such legends referring to the foregoing
representations or restrictions or any other applicable restrictions on resale
as the Company, in its discretion, shall deem appropriate.

   14. Change in Control.

         (a) In the event of a Change in Control of the Company, as defined
      below, the Committee may, in its sole discretion, provide that any of the
      following applicable actions be taken as a result, or in anticipation, of
      any such event to assure fair and equitable treatment of Participants:

            (i) accelerate the exercisability of any outstanding options awarded
         pursuant to this Plan;

            (ii) offer to purchase any outstanding options made pursuant to this
         Plan from the holder for its equivalent cash value, as determined by
         the Committee, as of the date of the Change in Control; or

            (iii) make adjustments or modifications to outstanding options as
         the Committee deems appropriate to maintain and protect the rights and
         interests of the Participants following such Change in Control.

   Any such action approved by the Committee shall be conclusive and binding on
the Company, its subsidiaries and all Participants.

         (b) In no event, however, may (i) any option be exercised prior to the
      expiration of six (6) months from the date of grant (unless otherwise
      provided in the agreement evidencing the option), or (ii) any option be
      exercised after ten (10) years from the date it was granted.

         (c) To the extent not otherwise defined in this Plan, the following
      terms used in this Paragraph 14 shall have the following meanings:

   "Affiliate" means (a) Bear Stearns (b) any other subsidiary of the Company
and (c) any other corporation or other entity which is controlled, directly or
indirectly, by, or under common control with, the Company and which the
Committee designates as an "Affiliate" for purposes of the Plan.

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   "Associate" of a Person means (a) any corporation or organization of which
such Person is an officer or partner or is, directly or indirectly, the
Beneficial Owner of 10% or more of any class of equity securities, (b) any trust
or other estate in which such Person has a substantial beneficial interest or as
to which such Person serves as trustee or in a similar fiduciary capacity and
(c) any relative or spouse of such Person, or any relative of such spouse, who
has the same home as such Person or who is a director or officer of such Person
or any of its parents or subsidiaries.

   "Bear Stearns" means Bear, Stearns & Co. Inc., a Delaware corporation, and
its successors and assigns.

   "Beneficial Owner" has the meaning ascribed thereto in Rule 13d-3 under the
Exchange Act, except that, in any case, a Person shall be deemed the Beneficial
Owner of any securities owned, directly or indirectly, by the Affiliates and
Associates of such Person.

   "Change in Control" means (a) a majority of the Board of Directors ceases to
consist of Continuing Directors; (b) any Person becomes the Beneficial Owner of
25% or more of the outstanding voting power of the Company unless such
acquisition is approved by a majority of the Continuing Directors; (c) the
stockholders of the Company approve an agreement to merge or consolidate into
any other entity, unless such merger or consolidation is approved by a majority
of the Continuing Directors; or (d) the stockholders of the Company approve an
agreement to dispose of all or substantially all of the assets of the Company,
unless such disposition is approved by a majority of the Continuing Directors.

   "Continuing Director" means any member of the Board of Directors who is a
member on the effective date of the Plan as set forth in Paragraph 19 or who is
elected to the Board of Directors after such date upon the recommendation or
with the approval of a majority of the Continuing Directors at the time of such
recommendation or approval.

   "Person" means an individual, a corporation, a partnership, an association, a
joint stock company, a trust, any unincorporated organization or a government or
a political subdivision thereof.

   15. Right to Terminate Employment. Nothing in the Plan or in any option
granted under the Plan shall confer upon any Participant the right to continue
as an employee of the Company or affect the right of the Company or any of its
subsidiaries, to terminate the Participant's employment at any time, subject,
however, to the provisions of any agreement of employment between the
Participant and the Company, its parent, if any, or any of its subsidiaries.

   16. Transfer, Leave of Absence. For purposes of this Plan, neither (i) a
transfer of an employee from the Company to a subsidiary or other affiliate of
the Company, or vice versa, or from one subsidiary or affiliate of the Company
to another, nor (ii) a duly authorized leave of absence, shall be deemed a
termination of employment.

   17. Adjustment upon Changes in Capitalization, etc. In the event of any stock
split, stock dividend, reclassification or recapitalization which changes the
character or amount of the Company's outstanding Common Stock while any portion
of any option theretofore granted under the Plan is outstanding but unexercised,
the Committee shall make such adjustments in the character and number of shares
subject to such options and in the option price, as shall be equitable and
appropriate in order to make the option, as nearly as may be practicable,
equivalent to such option immediately prior to such change; provided, however,
that no such adjustment shall give any Participant any additional benefits under
his or her option; and provided further, that, with respect to any outstanding
incentive stock option, if any such adjustment is made by reason of a
transaction described in Section 424(a) of the Code, it shall be made so as to
conform to the requirements of that Section and the regulations thereunder.

   If any transaction (other than a change specified in the preceding paragraph)
described in Section 424(a) of the Code affects the Company's Common Stock
subject to any unexercised option theretofore granted under the Plan
(hereinafter for purposes of this Paragraph 17 referred to as the "old option"),
the Board of Directors or any surviving or acquiring corporation may take such
action as it deems appropriate, and in conformity with the requirements of that
Section and the regulations thereunder, to substitute a new option for the old
option, in order to make the new option, as nearly as may be practicable,
equivalent to the old option, or to assume the old option.

   If any such change or transaction shall occur, the number and kind of shares
for which options may thereafter be granted under the Plan shall be adjusted to
give effect thereto.

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   18. Expiration and Termination of the Plan.

      18.1 General. Options may be granted under the Plan at any time and from
time to time on or prior to the tenth anniversary of the effective date of the
Plan as set forth in Paragraph 19 (the "Expiration Date"), on which date the
Plan will expire except as to options then outstanding under the Plan. Such
outstanding options shall remain in effect until they have been exercised,
terminated or have expired. The Plan may be terminated, modified or amended by
the Board of Directors at any time on or prior to the Expiration Date, except
with respect to any options then outstanding under the Plan; provided, however,
that the approval of the Company's stockholders will be required for any
amendment which (i) changes the class of employees eligible for grants, as
specified in Paragraph 4, (ii) increases the maximum number of shares subject to
grants, as specified in Paragraph 3 (unless made pursuant to the provisions of
Paragraph 17) or (iii) materially increases the benefits accruing to
participants under the Plan, within the meaning of Rule 16b-3 promulgated under
the Securities Exchange Act of 1934, as amended (the "Exchange Act").

      18.2 Modifications. No modification, extension, renewal or other change in
any option granted under the Plan shall be made after grant, unless the same is
consistent with the provisions of the Plan and does not disqualify an incentive
stock option under the provisions of Section 422 of the Code. In addition, the
option price of an option may not be changed after grant, other than in the case
of an adjustment described in Paragraph 14 or pursuant to Paragraph 17.

   19. Effective Date of Plan. The Plan became effective on September 28, 1999.

                                       7EXHIBIT 10.2

                         THE BEAR STEARNS COMPANIES INC.
                     RESTRICTED STOCK UNIT PLAN, AS AMENDED

      (Amended and Restated as of March 31, 2004 and Further Amended as of
                                 April 18, 2007)

   1. Purpose. The purpose of The Bear Stearns Companies Inc. Restricted Stock
Unit Plan (the "Plan") is to secure for The Bear Stearns Companies Inc. and its
successors and assigns (the "Company") and its stockholders the benefits of the
additional incentive inherent in the ownership of the Company's common stock,
par value $1.00 per share (the "Common Stock"), by selected employees of the
Company and its subsidiaries who are important to the success and growth of the
business of the Company and its subsidiaries and to help the Company and its
subsidiaries secure and retain the services of such persons. The Plan provides
for discretionary grants of stock units ("Restricted Stock Units") to or for the
benefit of participating employees of the Company and its subsidiaries, which
grants shall be subject to the terms and conditions set forth in the Plan and in
the agreement evidencing such Award. Such units can be granted by the Committee,
as hereinafter defined, based upon both future and past services.

   2. Committee.

      2.1 Administration. The Plan shall be administered by the Compensation
Committee (the "Committee") of the Board of Directors of the Company (the Board
of Directors). Any vacancy on the Committee, whether due to action of the Board
of Directors or due to any other cause, may be filled by resolution adopted by
the Board of Directors. The full Board of Directors may perform any function of
the Committee hereunder, in which case the term "Committee" shall refer to the
Board. The express grant of any specific power to the Committee, and the taking
of any action by the Committee, shall not be construed as limiting any power or
authority of the Committee. The Committee may delegate to officers or managers
of the Company or any subsidiary or affiliate, or committees thereof, authority,
other than authority to make grants under the Plan, to perform such functions as
the Committee may determine, including administrative functions, subject to such
terms as the Committee shall determine.

      2.2 Interpretation. The Committee shall have full power and authority to
interpret the provisions of the Plan and any agreement evidencing or relating to
an award of Restricted Stock Units ("Award") under the Plan, and to determine
any and all questions arising under the Plan, and its decisions shall be final
and binding on all participants in the Plan.

   3. Shares Subject to Grants.

      3.1 Number of Shares. Subject to the adjustment of provisions of Section
3.3, the number of shares of Common Stock that may be issued or delivered in
connection with awards of Restricted Stock Units under the Plan shall not exceed
25,000,000 shares. The Committee may adopt reasonable counting procedures to
ensure appropriate counting, avoid double counting and make adjustments if the
number of shares actually delivered differs from the number of shares previously
counted in connection with an Award. Shares subject to an Award that is
canceled, expired, forfeited, settled in cash or otherwise terminated without a
delivery of shares to the participant will again be available for Awards, and
shares withheld or surrendered in payment of the taxes relating to an award
shall be deemed to constitute shares not delivered to the participant and shall
be deemed again to be available for Awards under the Plan.

      3.2 Character of Shares; Reservation of Shares. Shares of Common Stock
delivered under the Plan shall be issued Common Stock held in the Company's
treasury, shares held by any trust or other arrangement established pursuant to
Section 5.10 hereof or a combination thereof. At all times, the Company shall
have reserved for awards under the Plan or shall have contributed to, or cause
to be purchased by, any such trust or other arrangement the number of shares of
Common Stock to be issued under this Plan equal to the maximum number of shares
set forth in Section 3.1, reduced by such number of shares that have been
previously issued or delivered as a result of this Plan.

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      3.3 Adjustments. In the event that any large, special and non-recurring
dividend or other distribution (whether in the form of cash or property other
than Common Stock), recapitalization, forward or reverse split, stock dividend,
reorganization, merger, consolidation, spin-off, combination, repurchase, share
exchange, liquidation, dissolution or other similar corporate transaction or
event affects the Common Stock such that an adjustment is determined by the
Committee to be appropriate under the Plan, then the Committee shall, in such
manner as it may deem equitable, adjust any or all of the number and kind of
shares reserved and available for Awards under the Plan and the number and kind
of shares subject to outstanding Restricted Stock Units.

   4. Employees Eligible. Awards may be granted to or for the benefit of any
employee who holds the position of a managing director or below, whom the
Committee selects for participation for a given performance year. Employees who
hold the position of senior managing director or above shall not be eligible to
be granted Awards under the Plan. An individual receiving any Award under the
Plan is referred to herein as a "participant". Any reference herein to the
employment of a participant by the Company shall include his or her employment
by the Company or any of its subsidiaries.

   5. Restricted Stock Units.

      5.1 In General. For the fiscal 2000 performance year and each performance
year thereafter during which the Plan remains in effect (each, a "Performance
Year"), each eligible employee selected to participate shall be granted an award
of Restricted Stock Units. Each Award shall be evidenced by an agreement which
shall set forth the terms and conditions of such Award, including without
limitation, the date or dates upon which such Award shall vest and the
circumstances (including, without limitation, Termination of Employment, as
defined in Section 6.2, or failure to satisfy one or more restrictive covenants
or other ongoing obligations) under which such Award shall not vest. The Award
shall also be subject to such other terms and conditions not inconsistent
herewith as the Committee shall determine.

      5.2 Nature of Restricted Stock Units; Accounts. Each Restricted Stock Unit
represents a right for one share of Common Stock to be delivered upon settlement
at the end of the Deferral Period (as defined below), subject to a risk of
cancellation and to the other terms and conditions set forth in the Plan, the
agreement evidencing the Award and any additional terms and conditions set by
the Committee. The Company shall establish and maintain an account for the
participant to record Restricted Stock Units and transactions and events
affecting such units. Restricted Stock Units and other items reflected in the
account will represent only bookkeeping entries by the Company to evidence
unfunded obligations of the Company.

      5.3 Deferral Period and Settlement Date. Except as otherwise provided in
this Section 5.3, Section 6 or Section 7, Restricted Stock Units (if not
previously cancelled) will be automatically settled on or about the date or
dates set forth in the agreement evidencing the Awards. The period from the date
of the Award through the date of settlement is referred to as the "Deferral
Period". The Committee may permit the participant to elect to further defer
settlement (thereby extending the Deferral Period), subject to such terms and
conditions as the Committee may specify. In addition, unless otherwise
determined by the Committee, if the Committee reasonably determines that any
settlement of Restricted Stock Units would result in payment of compensation to
a participant which is not deductible by the Company under Code Section 162(m),
such settlement shall be automatically deferred to the extent necessary to avoid
payment of such non-deductible compensation, with this automatic deferral of
each Restricted Stock Unit continuing only until such date as settlement can be
effected without loss of deductibility by the Company under Section 162(m).

      5.4 Vesting of Restricted Stock Units. Unless otherwise determined by the
Committee or unless otherwise provided in the agreement evidencing the Award, in
the event of the participant's Termination of Employment (as defined in Section
6.2), the participant's Restricted Stock Units which are not vested as of the
date of such Termination of Employment, shall not vest and shall be immediately
cancelled for no value.

      5.5 Dividend Equivalents. Restricted Stock Units granted to a participant
shall be credited with dividend equivalent as provided in this Section 5.5.
Dividend equivalents shall be subject to the terms and conditions set forth in
the agreement evidencing the Award.

                                       2
<PAGE>

         (i) Cash Dividends. If the Company declares and pays a cash dividend on
      Common Stock, then a number of additional Restricted Stock Units shall be
      credited to the participant as of the payment date for such dividend equal
      to (A) the number of Restricted Stock Units credited to the participant as
      of the record date for such dividend, multiplied by (B) the amount of cash
      actually paid as a dividend on each share at such payment date, divided by
      (C) the Fair Market Value of a share of Common Stock at the ex-dividend
      date.

         (ii) Non-Stock Dividends. If the Company declares and pays a dividend
      on Common Stock in the form of property other than shares of Common Stock,
      then a number of additional Restricted Stock Units shall be credited to
      the participant as of the payment date for such dividend equal to (A) the
      number of Restricted Stock Units credited to the participant as of the
      record date for such dividend, multiplied by (B) the fair market value of
      any property other than shares actually paid as a dividend on each share
      at such payment date, divided by (C) the Fair Market Value of a share of
      Common Stock at the ex-dividend date.

         (iii) Modifications to Dividend Equivalents Policy. Other provisions of
      this Section 5.5 notwithstanding, the Committee may modify the manner of
      payment or crediting of dividend equivalents hereunder, in order to
      coordinate the value of a participant's accounts with any trust holding
      shares established under Section 5.10, for administrative convenience, or
      for any other reason.

      5.6 Vesting, Settlement and Other Terms Applicable to Restricted Stock
Units Resulting from Dividends. Additional Restricted Stock Units credited under
Section 5.5 will be subject to the same terms, including terms governing
vesting, cancellation and Deferral Periods, as the underlying Restricted Stock
Units.

      5.7 Restriction on Transferability During Deferral Period. During the
Deferral Period, the participant shall not be permitted to sell, transfer,
pledge, or otherwise encumber the Restricted Stock Units or the shares issuable
in settlement thereof, except to the extent specifically approved by the
Committee or as provided in the agreement evidencing the Award.

      5.8 Delivery of Shares in Settlement of Restricted Stock Units; Fractional
Shares. The Company may make delivery of shares hereunder in settlement of
Restricted Stock Units by either delivering one or more certificates
representing such shares to the participant, registered in the name of the
participant (and any joint name, if so directed by the participant), by
depositing such shares into an account maintained for the participant (or of
which the participant is a joint owner, with the consent of the participant) by
a broker-dealer affiliated with the Company or any such account established in
connection with any Company plan or arrangement providing for investment in
Common Stock and under which the participant's rights are similar in nature to
those under a stock brokerage account or by delivering such shares to the
Trustee ("Trustee") of a pension plan of which the participant is a member. If
the Committee determines to settle Restricted Stock Units by making a deposit of
shares into such an account, the Company may settle any fractional Restricted
Stock Unit by means of such deposit. In other circumstances or if so determined
by the Committee, the Company shall instead pay cash in lieu of fractional
shares, on such basis as the Committee may determine. In no event will the
Company in fact issue fractional shares. The Committee may determine whether,
prior to settlement, Restricted Stock Units will be reflected as whole units
only or include fractional units, and related terms.

      5.9 Definition of "Fair Market Value". Unless otherwise determined by the
Committee, "Fair Market Value" of a share of Common Stock on any date means (i)
if the Common Stock is listed on a national securities exchange or quotation
system reporting last-sale information, the closing sales price on such exchange
or quotation system on such date or, in the absence of reported sales on such
date, the closing sales price on the immediately preceding date on which sales
were reported; or (ii) if the Common Stock is not listed on a national
securities exchange or quotation system providing last-sale information, the
fair value as determined by such other method as the Committee determines in
good faith to be reasonable.

                                       3
<PAGE>

      5.10 Trusts. The Committee may, in its discretion, establish one or more
trusts or other arrangements and deposit therein amounts of cash, Common Stock,
or other property to meet the obligations created under the Plan to deliver
shares of Common Stock to participants; provided, however, that the existence of
such trusts or other arrangements is consistent with the unfunded status of the
Plan. In such case, the amounts of hypothetical income and appreciation and
depreciation in value of such account shall be equal to the actual income on,
and appreciation and depreciation of, the assets in such trust(s). Other
provisions of the Plan notwithstanding, the timing of allocations and other
events relating to assets in such account may be varied to reflect the timing of
allocations and events relating to actual investments of the assets of such
trust(s). To the extent that shares of Common Stock held by a trust or other
arrangement established pursuant to this Section 5.10 are allocated to a
participant's Restricted Stock Units, the participant shall have the right,
subject to applicable law, to instruct the trustee of such trust or similar
arrangement with respect to the exercise of voting rights on such allocated
shares and as to whether (or not) to tender or exchange any such allocated
shares in any tender or exchange offer in accordance with the instruments
governing such trust or other arrangement as in effect from time to time.

   6. Certain Termination Provisions. In the event of a participant's
Termination of Employment by reason of death, the following provisions shall
apply. The consequences of a participant's Termination of Employment for any
other reason shall be as set forth in the agreement evidencing the Award.

      6.1 Death. In the event of a participant's Termination of Employment due
to death Restricted Stock Units shall become fully vested at the date of such
Termination of Employment, and the Deferral Period applicable to such Restricted
Stock Units shall end and such units shall be settled in full by delivery of
shares as promptly as practicable following such Termination of Employment.

      6.2 For purposes of this Plan: "Termination of Employment" means the event
by which participant ceases to be employed by the Company or any subsidiary of
the Company and, immediately thereafter, is not employed by or providing
substantial services to any of the Company or a subsidiary of the Company.
Neither (i) a transfer of an employee from the Company to a subsidiary or other
affiliate of the Company to another, nor (ii) a duly authorized leave of
absence, shall be deemed a Termination of Employment.

   7. Change in Control.

      7.1 Effect of a Change in Control. In the event of a Change in Control of
the Company, as defined below, the Committee may, in its sole discretion,
provide that any of the following actions shall be taken as a result, or in
anticipation, of any such event to assure fair and equitable treatment of
participants:

         (i) acceleration of vesting of the Restricted Stock Units and/or
      acceleration of the termination of the Deferral Period and settlement of
      Restricted Stock Units under the Plan;

         (ii) offer to purchase any outstanding Restricted Stock Units under the
      Plan from the participant or the Trustee for the award's equivalent cash
      value, as determined by the Committee, as of the date of the Change in
      Control or another specified date; or

         (iii) make adjustments or modifications, such as providing for the
      assumption of the Restricted Stock Units by an acquirer and conversion of
      the underlying Common Stock to securities of the acquirer, as the
      Committee deems appropriate to maintain and protect the rights and
      interests of the participants following such Change in Control.

   Any such action approved by the Committee shall be conclusive and binding on
the Company, its subsidiaries and all participants.

      7.2 Definitions Relating to Change in Control. To the extent not otherwise
defined in this Plan, the following terms used in this Section 7 shall have the
following meanings:

   "Affiliate" of a Person means any other person or entity which controls, is
controlled by, or under common control with, the Person.

                                       4
<PAGE>

   "Associate" of a Person means (a) any corporation or organization of which
such Person is an officer or partner or is, directly or indirectly, the
Beneficial Owner of 10% or more of any class of equity securities, (b) any trust
or other estate in which such Person has a substantial beneficial interest or as
to which such Person serves as trustee or in a similar fiduciary capacity and
(c) any relative or spouse of such Person, or any relative of such spouse, who
has the same home as such Person or who is a director or officer of such Person
or any of its parents or subsidiaries.

   "Beneficial Owner" has the meaning ascribed thereto in Rule 13d-3 under the
Exchange Act, except that, in any case, a Person shall be deemed the Beneficial
Owner of any securities owned, directly or indirectly, by the Affiliates and
Associates of such Person.

   "Change in Control" means (a) a majority of the Board of Directors ceases to
consist of Continuing Directors; (b) any Person is or becomes the Beneficial
Owner of 50% or more of the outstanding voting power of the Company unless such
acquisition is approved by a majority of the Continuing Directors; (c) there is
consummated a merger or consolidation of the Company or any direct or indirect
subsidiary of the Company with any other corporation, other than a merger or
consolidation with respect to which requirements of clauses (A) and (B) below
are satisfied: (A) the voting securities of the Company outstanding immediately
prior to such merger or consolidation continue to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity
or any parent thereof) more than 50% of the combined voting power of the
securities of the Company or such surviving entity or any parent thereof (as the
case may be) outstanding immediately after such merger or consolidation and (B)
individuals who constitute the Board of Directors immediately prior to the
execution of the definitive agreement pertaining to such merger or consolidation
continue immediately following such merger or consolidation to represent at
least a majority of the membership of the Board of Directors of the Company or
such surviving entity or any parent thereof (as the case may be); (d) the
stockholders of the Company approve an agreement to dispose of all or
substantially all of the assets of the Company, unless such disposition is
approved by a majority of the Continuing Directors.

   "Continuing Director" means any member of the Board of Directors who is a
member on the effective date of the Plan or who is elected to the Board of
Directors after such date upon the recommendation or with the approval of a
majority of the Continuing Directors at the time of such recommendation or
approval.

   "Exchange Act" means the Securities Exchange Act of 1934, as amended.

   "Person" means an individual, a corporation, a partnership, an association, a
joint stock company, a trust, any unincorporated organization or a government or
a political subdivision thereof.

   8. General Provisions.

      8.1 Limitation on Rights Conferred Under Plan. Neither the Plan nor any
action taken hereunder shall be construed as (i) giving any eligible employee or
participant the right to continue in the employ or service of the Company or a
subsidiary or affiliate, (ii) interfering in any way with the right of the
Company or a subsidiary or affiliate to terminate such eligible employee's or
participant's employment or service at any time, (iii) giving an eligible
employee or participant any claim to be granted any award under the Plan or to
be treated uniformly with other participants and employees, or (iv) conferring
on a participant any of the rights of a stockholder of the Company unless and
until the participant is duly issued or transferred shares of Common Stock in
accordance with the terms of an award. Except as expressly provided in the Plan
and an Award agreement, neither the Plan nor any Award agreement shall confer on
any person other than the Company and the participant any rights or remedies
thereunder.

      8.2 Committee May impose Conditions; Right of Setoff. The Company or any
subsidiary may, to the extent permitted by applicable law, deduct from and set
off against any amounts the Company or a subsidiary or affiliate may owe to a
participant from time to time pursuant to any Award under the Plan, any amounts
owed by the participant to the Company or any subsidiary or affiliate, although
participant shall remain liable for any part of participant's payment obligation
not satisfied through such deduction and setoff.

                                       5
<PAGE>

      8.3 Tax Withholding Obligation. Whenever under the Plan a participant or a
Trustee incurs federal income tax liability, obligations with respect to Social
Security and Medicare taxes, or other tax obligations in connection with an
Award, whether at the time of grant, vesting or settlement of Restricted Stock
Units, the Company shall be entitled to require, as a condition of grant,
vesting, or settlement of the award, that the participant remit or, in
appropriate cases, agree to remit when due an amount sufficient to satisfy all
federal, state and local withholding tax requirements relating thereto. At the
election of the Company, such mandatory withholding amounts may be remitted by
check payable to the Company, in shares of Common Stock, by the Company's
withholding of shares of Common Stock issuable or deliverable hereunder, or any
combination thereof; provided, however, that in no event may shares be withheld
to satisfy a tax obligation of participant in excess of the mandatory tax
withholding obligations arising in connection with the participant's award. If
so determined by the Committee, a participant may be permitted to elect from
among alternative methods of satisfying withholding obligations.

      8.4 Governing Law. The validity, construction, and effect of the Plan, any
rules and regulations relating to the Plan and any award agreement shall be
determined in accordance with the laws of the State of New York, without giving
effect to principles of conflicts of laws, and applicable provisions of federal
law.

      8.5 Nonexclusivity of the Plan. The adoption of the Plan by the Board of
Directors shall not be construed as creating any limitations on the power of the
Board of Directors or a committee thereof to adopt such other incentive
arrangements, apart from the Plan, as it may deem desirable, and such other
arrangements may be either applicable generally or only in specific cases.

      8.6 Changes to the Plan and Awards. The Board of Directors may amend,
suspend or terminate the Plan or the Committee's authority to grant Awards under
the Plan without the consent of participants; provided, however, that, without
the consent of an affected participant, no such Board action may materially and
adversely affect the rights of such participant under any outstanding Award. The
Committee may amend any outstanding Award without the consent of the affected
participant; provided, however, that, without such consent, no such action may
materially and adversely affect the rights of such participant under any
outstanding Award. For purposes of this Section 8.6, accelerated settlement of
an Award shall not be considered a materially adverse affect on the rights of a
participant, regardless of the tax consequences to such participant.

      8.7 Compliance with Legal and Other Requirements. The Company may, to the
extent deemed necessary or advisable by the Committee, postpone the issuance or
delivery of shares or payment of other benefits under any Award until completion
of registration or qualification of the Common Stock or other required action
under any federal or state law, rule or regulation, listing or other required
action with respect to any stock exchange or automated quotation system upon
which the Common Stock or other securities of the Company are listed or quoted,
or compliance with any other obligation of the Company, as the Committee may
consider appropriate, and may require any participant to make such
representations, furnish such information and comply with or be subject to such
other conditions as it may consider appropriate in connection with the issuance
or delivery of shares or payment of other benefits in compliance with applicable
laws, rules, and regulations, listing requirements, or other obligations.

   9. Plan Effective Date and Termination. The Plan became effective on November
29, 2000. Unless earlier terminated by action of the Board of Directors, the
Plan will remain in effect until such time as no shares of Common Stock remain
available for delivery under the Plan and the Company has no further rights or
obligations with respect to outstanding Awards under the Plan.

                                       6

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