Document:

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                              ALLTRISTA CORPORATION

                           2002 EXECUTIVE LOAN PROGRAM

         1. Purpose. The purpose of the Alltrista Corporation 2002 Executive
Loan Program (the "Program") is to benefit Alltrista Corporation and its present
or future subsidiaries (together, or separately, the "Company," as the context
may require) by enhancing the Company's ability to attract and retain those
officers and other key employees of the Company who are in a position to make
substantial contributions to the ongoing success of the Company. The Program is
intended to complement the incentives now offered by the Company to its
executives which allow them to acquire shares of common stock (the "Common
Stock") of Alltrista Corporation. To accomplish this purpose, the Program
provides loans to finance exercises of incentive stock options and non-qualified
stock options granted under various stock options plans maintained by the
Company, all as the Compensation Committee of the Board of Directors of
Alltrista Corporation (the "Committee") determines.

         2. Participation. Participation in the Program shall be limited to (a)
the Chief Executive Officer, Chief Financial Officer, all Vice Presidents and
all other employees who are "executive officers" of the company under Section 16
of the Securities Exchange Act of 1934 and (b) those other officers and key
employees of the Company who are determined by the Committee as being eligible
to so participate (collectively, the "Participants").

         3. Administration. The Committee shall administer the Program and have
exclusive power to determine (a) which officers and key employees shall become
Participants in accordance with the limitations contained in Paragraph 2 above,
(b) the time or times at which such offer shall be made, and (c) the amount to
be loaned to any Participant. The interpretation and instruction by the
Committee of any provision of the Program or of any agreement or other matter
related to the Program shall be final unless otherwise determined by the
Committee or the Board of Directors.

         4. Amount Available for Loans. The aggregate amount of loans under the
Program which may be outstanding at any one time shall not exceed $7,500,000.
All loans under the Program must be made on or before December 31, 2005.

         5. Terms of Notes. Each loan (a "Loan") made under the Program shall be
evidenced by a promissory note executed and delivered by the Participant to
Alltrista Corporation, in form and substance satisfactory to the Committee (the
"Note"), and such other agreements as may be required by the Committee.
Notwithstanding the general authority of the Committee under the Program, each
Note shall be subject to the following terms and conditions:

            (a)   The Participant shall be personally liable on the Note and
                  each Loan shall be full recourse against the Participant.

            (b)   The maximum term to maturity of the Note shall be five years,
                  unless earlier terminated as provided in paragraph 7 below;
                  provided, however,

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                  that the Note shall become immediately due and payable within
                  90 days after the date a Participant ceases to be employed by
                  the Company for any reason other than age, disability ,death
                  or without cause, as defined in any employment entered into
                  with the Company by a Participant.

            (c)   Each Note shall provide for the payment of annual interest at
                  the most favorable rate applicable to funds borrowed by the
                  Company at the time the Note is issued, provided that this
                  rate is sufficient to avoid the loan being characterized as
                  either (A) carrying "unstated interest" within the meaning of
                  Section 483 of the Internal Revenue Code of 1986, as amended
                  (the "Code"), or (B) a "below-market loan" within the meaning
                  of Section 7872 of the Code in all other cases and (iii) any
                  other minimum rate required to avoid the imputation of income
                  as original issue discount. Interest shall be payable at the
                  maturity of each Loan.

            (d)   The Committee, in its discretion, may require that amounts
                  payable with respect to the Note be secured by the shares
                  issued at the time the Loan is made.

            (e)   The principal amount of the Loans shall not exceed the
                  aggregate of the exercise price due on any options being
                  exercised, less the par value of the Common Stock of the
                  shares being exercised.

         6. Securities and Other Laws. Purchases and sales of Common Stock
pursuant to the Program shall comply in all respects to federal and state
securities laws and the Company's policies on insider trading. The Program and
all loans entered into by the Company pursuant to the Program are subject to all
laws, rules and regulations of any governmental authority which may be
applicable thereto, including any applicable rules and regulations of the
Federal Reserve Board.

         7. Repayment of Note. (a) The principal and interest under the Loans,
may be paid by the Participant either in cash or in or whole or in part in
shares of Common Stock valued at the Fair Market Value on the repayment date.
The term "Fair Market Value" shall have the same meaning ascribed to such term
in the Alltrista Corporation 2001 Stock Option Plan.

                  (b) The Note shall be repaid on a pro rata basis with the
proceeds received by the Participant upon the sale of shares of Common Stock
issued by the Company to a Participant in connection with the Loan, if not
repaid prior to this date.

                  (c) Participants may prepay Loans to the Company without
charge, prepayment interest or penalty. Upon full satisfaction of all
outstanding Loans to a Participant, the Company shall direct the Company's
transfer agent to remove any restrictive legends and stop transfer orders that
may be placed against certificates representing shares of Common Stock held by a
Participant.

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         8. Restrictions on Shares. The Company may endorse such legend or
legends upon the certificates for shares of Common Stock issued to the
Participant in connection with the Program and may issue such "stop transfer"
instructions to its transfer agent in respect of such shares of Common Stock as,
in its discretion, it determines to be necessary or appropriate to: (i) prevent
a violation of, or to perfect an exemption from, the registration requirements
of the Securities Act; or (ii) implement the provisions of the Program,
including Paragraph 7 above, and the Note or any other agreement between the
Company and the Participant with respect to such shares of Common Stock. The
Common Stock may not be margined or used as collateral for another loan, while
the Loan is outstanding.

         9. No Employment Rights Created. Nothing in this Program or any Note or
other Loan document or the making of any Loan hereunder shall be deemed to
create a contract of employment or to alter the nature of a Participant's
employment with the Company; or (b) entitle a Participant to any severance or
other payments upon termination of employment from the Company.

         10. Non-Uniform Determinations. Neither the Committee's nor the Board's
determinations under the Program need be uniform and may be made by the
Committee (or the Board) selectively among Participants whether or not such
persons are similarly situated. Without limiting the generality of the
foregoing, the Committee shall be entitled, among other things, to make
non-uniform and selective determinations and to enter into non-uniform and
selective Loan documents.

         11. General Provisions.

                  (a) Amendment to Program/Termination. The Committee or the
Board of Directors reserves the right to suspend, withdraw, amend, modify, waive
or terminate the Program in whole or in part, at any time for any reason. The
Program shall continue in full force and effect until such time as the Board
determines to terminate the Program. No suspension or termination of the Program
shall release any Participant from Participant's obligations under any
outstanding Loan or accelerate the terms of any outstanding Loans.

                  (b) Further Assurances. By accepting a Loan, a Participant
shall be deemed to consent to provide any further assurances, documents,
information, certificates, financial records or other items reasonably requested
by the Company in connection with any Loan or any collateral held under a Loan.

                  (c) Severability. If all or any part of the Program is
declared by any court or governmental authority to be unlawful or invalid, such
unlawfulness or invalidity shall not serve to invalidate any portion of the
Program not declared to be unlawful or invalid. Any Section or part of a Section
so declared to be unlawful or invalid shall, if possible, be construed in a
manner in which will give effect to the terms of such Section or part of a
Section to the fullest extent possible while remaining lawful and valid.

                  (d) Expenses. The Company shall bear all expenses of
administering the Program.

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                  (e) Determinations. The determination of the Committee (or the
Board) on all matters relating to the Program or any Loan agreement shall be
conclusive and final. No member of the Committee (or the Board) shall be liable
for any action or determination made in good faith with respect to the Program
or any Loan agreement.

                  (f) Governing Law. The Program and all Notes and other Loan
documents entered into in connection with this Program shall be governed by and
construed in accordance with the internal laws of the state of New York without
regard to the principles of conflicts of law thereof.

         12. Effective Date. The effective date of the Program is January 2,
2002.<PAGE>
                                                                     EXHIBIT 4.1

On this, 4th February
Two thousand two, appeared before me,
Maitre Bart Theodoor Derogee, civil-law notary in Rotterdam:
[   ].

The person appearing has declared that the general meeting of shareholders of
the company limited by shares (naamloze vennootschap) CNH Global N.V., whose
corporate seat is in Amsterdam and registered office at World Trade Center
Amsterdam Airport, Schiphol Boulevard 217, 1118 BH Amsterdam, in its
extraordinary meeting held on the fourth day of February two thousand two has
resolved:

a.  to amend and restate the articles of association of the company as set forth
    hereinafter;

b.  to authorize him, the person appearing, to apply for the ministerial
    declaration of non-objection in respect of the draft of the present deed, to
    make such changes in the said draft as may be required for obtaining the
    said declaration and after the obtaining thereof effect the amendment of the
    articles of association by the passing of a notarial deed.

The person appearing further declared that the said ministerial declaration of
non-objection has been obtained as appears from the ministerial declaration,
number N.V. 571.060, dated the [ ] day of [ ] two thousand two, which is hereto
attached. Implementing the aforesaid resolution the person appearing declared to
amend and restate the articles of association of the company as follows:

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                            ARTICLES OF ASSOCIATION
                            NAME AND CORPORATE SEAT

Article 1

1. The name of the company is: CNH Global N.V.

2. It has its corporate seat in Amsterdam.

OBJECTS

Article 2

The objects of the company are:

a. to engage in, and/or to participate in and operate one or more companies
engaged in the design, engineering, manufacture, sale or distribution of
agricultural and construction equipment;

b. to engage in and/or to participate in and operate one or more companies
engaged in any business, financial or otherwise, which the company may deem
suitable to be carried on in conjunction with the foregoing;

c. to render management and advisory services;

d. to issue guarantees, provide security, warrant performance or in any other
way assume liability for or in respect of obligations of group companies;

e. to do anything which a company may lawfully do under the laws of the
Netherlands which may be deemed conducive to the attainment of the objects set
out in paragraphs a, b, c and d foregoing.

SHARE CAPITAL AND SHARES

Article 3

1. The authorized share capital of the company amounts to four hundred fifty
million Euro (EUR 450,000,000.--), divided into seven hundred million
(700,000,000) common shares and three hundred million (300,000,000) preference
shares of forty-five Euro cents (EUR 0.45) each. Any reference in these articles
of association to shares or shareholders without further specification shall be
understood to mean both common shares and preference shares or the holders
thereof, respectively.

2. When shares are subscribed for, there shall be paid-up thereon the par value
thereof and in addition, if the shares are subscribed at a higher amount, the
difference between such amounts, without prejudice to the provision of article
80 paragraph 2 of Book 2 of the Civil Code. Where shares of a particular class
are subscribed at a higher amount than the nominal value, the difference between
such amounts shall be carried to the share premium reserve of that class.

3. The Company shall not lend its co-operation to the issue of certificates of
beneficial ownership ("certificaten van aandelen") for shares in its share
capital.

4. The power to confer voting rights and rights as referred to in
article 89 paragraph 4 of Book 2 of the Civil Code on those who have a right of
pledge over shares is excluded.
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ISSUE OF SHARES

Article 4

1. The general meeting of shareholders or alternatively the board of directors,
if it has been designated to do so by the general meeting of shareholders, shall
have authority to resolve on any further issue of shares; the general meeting of
shareholders shall, for as long as the designation of the board of directors for
this purpose is in force, no longer have authority to decide on a further issue
of shares.

2. The general meeting of shareholders or the board of directors if so
designated as provided in paragraph 1 above, shall decide on the price and the
further terms and conditions of issue, with due observance of what has been
provided in relation thereto in the law and in the articles of association.

3. If the board of directors is designated to have authority to decide on a
further issue of shares, such designation shall provide how many shares shall be
allowed to be issued. When making such designation the duration thereof, which
shall not be for more than five years, shall at the same time be resolved upon.
The designation may be extended from time to time for periods not exceeding five
years. The designation may not be withdrawn unless otherwise provided in the
resolution in which the designation is made.

4. Within eight days after the passing of a resolution of the general meeting of
shareholders to issue shares or to designate the board of directors as provided
in paragraph 1 hereof the board of directors shall deposit the complete text of
such resolution at the office of the Trade Register where the company has its
corporate seat. Within eight days after each issue of shares the board of
directors shall report the same to the office of such Trade Register stating the
number of shares issued.

5. What has been provided in the paragraphs 1 to 3 inclusive shall mutatis
mutandis be applicable to the granting of rights to subscribe for shares but
shall not be applicable to the issuing of shares to anyone who exercises a
previously acquired right to subscribe for shares.

6. The shares shall be paid-up in cash unless another form of contribution -
subject to the provision of Article 80b of Book 2 of the Civil Code - has been
agreed upon. When the shares are paid up in cash, payment shall be made in Dutch
currency or, subject to the provision of Article 80a paragraphs 2 and 3 of Book
2 of the Civil Code, in foreign currency.

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7. The board of directors is expressly authorized to enter into the legal acts
referred to in article 94 of Book 2 of the Civil Code, without the prior consent
of the general meeting of shareholders.

RIGHT OF PREFERENCE

Article 5

1. In the event of an issue of shares of either class every holder of shares of
that class shall have a right of preference with regard to the shares to be
issued of that class in proportion to the aggregate amount of his shares of that
class, provided however that no such right of preference shall exist in respect
of shares to be issued to employees of the company or of a group company
pursuant to any option plan of the company.

2. A shareholder shall have no right of preference for shares that are issued
against a non-cash contribution.

3. The general meeting of shareholders or the board of directors, as the case
may be, shall decide when passing the resolution to issue shares in which manner
and within which time limit the right of preference may be exercised.

4. The company shall give notice of an issue of shares that is subject to a
right of preference and of the period during which such right may be exercised,
by announcement in the State Gazette and as provided in article 16 paragraph 4
hereof.

5. The right of preference may be exercised during at least two weeks after the
announcement.

6. The right of preference may be limited or excluded by resolution of the
general meeting of shareholders or resolution of the board of directors if it
has been designated to do so by the general meeting of shareholders provided the
board of directors has also been authorized to resolve on the issue of shares of
the company. In the proposal to the general meeting of shareholders in respect
thereof the reasons for the proposal and the choice of the intended price of
issue shall be explained in writing.

With respect to the designation the provisions of the last three sentences of
paragraph 3 of article 5 shall apply mutatis mutandis.

7. For a resolution of the general meeting of shareholders to limit or exclude
the right of preference or to designate the board of directors as authorized to
do so, a majority is required of at least two thirds of the votes cast, if in
the general meeting less than
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one half of the issued share capital is represented.

Within eight days from the resolution the board of directors shall
deposit a complete text thereof at the office of the Trade Register.

8. When rights are granted to subscribe for shares the shareholders shall have a
right of preference; what has been provided hereinbefore in this article shall
be applicable mutatis mutandis. Shareholders shall have no right of preference
in respect of shares that are issued to anyone who exercises a previously
acquired right.

ACQUISITION AND TRANSFER BY THE COMPANY OF SHARES IN ITS OWN SHARE CAPITAL

Article 6

1. The company shall have authority to acquire fully paid-up shares in its own
share capital, for no consideration or for value, if:

a. the general meeting of shareholders has authorized the board of directors to
make such acquisition and with the authorization - which shall be valid for no
more than eighteen months - has specified the number of shares which may be
acquired, the manner in which they may be acquired and the limits within which
the price must be set; and

b. the company's equity, after deduction of the price of acquisition, is not
less than the sum of the paid-up portion of the share capital and the reserves
that have to be maintained by provision of law; and

c. the aggregate par value of the shares to be acquired and the shares in its
share capital the company already holds, holds as pledgee or are held by a
subsidiary company, does not amount to more than one tenth of the aggregate par
value of the issued share capital.

The company's equity as shown in the last confirmed and adopted balance sheet,
after deduction of the price of acquisition for shares in the share capital of
the company and distributions from profits or reserves to any other persons that
became due by the company and its subsidiary companies after the date of the
balance sheet, shall be decisive for what has been provided under item b above.
If no annual accounts have been confirmed and adopted when more than six months
have expired after the end of any financial year, then an acquisition by virtue
of this paragraph shall not be allowed.

2. Any acquisition by the company of shares that have not been fully paid up
shall be void.

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3. Shares as referred to in this article shall include certificates of
beneficial ownership.

REDUCTION OF THE ISSUED SHARE CAPITAL

Article 7

1. The general meeting of shareholders shall have power to pass a resolution to
reduce the issued share capital by the cancellation of shares or by reducing the
amount of the shares by means of an amendment to the company's Articles of
Association. The shares to which such resolution relates shall be stated in the
resolution and it shall also be stated therein how the resolution shall be
implemented.

2. A resolution to cancel shares may only relate to shares in its own share
capital, that are being held by the company itself or of which it holds the
certificates of beneficial ownership or to the preference shares. Where
preference shares not already held by the company are cancelled the company
shall pay to the holders of such shares the nominal amount of such shares and
the amount of the share premium reserve of that class.

3. Any reduction of the nominal amount of shares without redemption must be made
pro rata on all shares.

4. A partial repayment on shares shall only be allowed in implementation of a
resolution to reduce the nominal amount of the shares. Such a repayment must be
made in respect of all shares of the same class on a pro rata basis, or in
respect of the preference shares only. The pro rata requirement may be waived
with the consent of all the shareholders concerned.

5. For a resolution to reduce the capital a majority of at least two-thirds of
the votes cast shall be required, if less than one half of the issued capital is
represented at the meeting.

6. The notice convening a meeting at which a resolution, as mentioned in this
article, is to be passed shall state the purpose of the reduction of the share
capital and the manner in which effect is to be given thereto.

The second, third and fourth paragraphs of Article 123 of Book 2 of the Civil
Code shall mutatis mutandis be applicable.

7. The company shall deposit the resolutions referred to in paragraph 1 of this
article at the office of the Trade Register and shall publish a notice of such
deposit in a

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nationally distributed daily newspaper; what has been provided in Article 100,
paragraphs 2 and 6 inclusive of Book 2 of the Civil Code shall be applicable to
the company.

SHARES AND SHARE CERTIFICATES

Article 8

1. The shares shall be registered shares and they shall for each class be
numbered and may also be provided with letters as the board of directors shall
determine.

2. The board of directors may resolve that, at the request of the shareholder,
share certificates shall be issued in respect of shares in such denominations as
the board shall determine, which certificates are exchangeable at the request of
the shareholder.

3. Share certificates shall not be provided with a set of dividend coupons and a
talon.

4. Each share certificate carries the number(s) and letter(s), if any, of the
share(s) in respect of which they were issued.

5. The exchange referred to in paragraph 2 shall be free of charge.

6. Share certificates shall be signed by a member of the board of directors. The
board of directors may resolve that the signature shall be replaced by a
facsimile signature.

7. The board of directors may determine that for the purpose of trading and
transfer of shares at a foreign stock exchange, share certificates shall be
issued in such form as shall comply with the requirements of such foreign stock
exchange.

8. On a request in writing by the party concerned and upon provision of
satisfactory evidence as to title, replacement share certificates may be issued
of share certificates which have been mislaid, stolen or damaged, on such
conditions, including, without limitation, the provision of indemnity to the
company as the board of directors shall determine.

The costs of the issue of replacement share certificates may be charged to the
applicant. By the issue of replacement share certificates the original share
certificates will become void and the company will have no further obligation
with respect to such original share certificates. Replacement share certificates
will bear the numbers and letters of the documents they replace.

REGISTER OF SHAREHOLDERS

Article 9

1. The board of directors shall keep a register of shareholders in which the
name and address of each shareholder shall be entered, recording the amount
paid-up on each

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share, as well as, in so far as applicable, the further particulars referred to
in Article 85 of Book 2 of the Civil Code.

2. The board of directors shall be authorized to keep a part of the register
outside the Netherlands if required to comply with applicable foreign
legislation or the rules of the stock exchange where the shares of the company
are listed.

3. The board of directors shall determine the form and contents of the register
with due observance of the provisions of paragraphs 1 and 2 hereof.

4. Every entry in the register shall be signed by a member of the board of
directors; the register shall be kept regularly up to date.

5. Upon request the board of directors shall provide shareholders and those who
have a right of usufruct or pledge in respect of such shares free of charge with
an extract from the register in respect of their rights to a share.

6. The board of directors shall be authorized to provide the authorities with
information and data contained in the register of shareholders or have the same
inspected to the extent that this is requested to comply with applicable foreign
legislation or rules of the stock exchange where the company's shares are
listed.

TRANSFER OF SHARES

Article 10.

The transfer of shares or of a restricted right thereto shall require an
instrument intended for such purpose and, save when the company itself is a
party to such legal act, the written acknowledgement by the company of the
transfer. The acknowledgement shall be made in the instrument or by a dated
statement on the instrument or on a copy or extract thereof mentioning the
acknowledgement signed as a true copy by the notary or the transferor, or in the
manner referred to in paragraph 2. Service of such instrument or such copy or
extract on the company shall be considered to have the same effect as an
acknowledgement.

2. If a share certificate has been issued for a share the surrender to the
company of the share certificate shall also be required for such transfer. The
company may acknowledge the transfer by making an annotation on such share
certificate as proof of the acknowledgement or by replacing the surrendered
certificate by a new share certificate registered in the name of the transferee.

<PAGE>

MANAGEMENT

Article 11

1. The company shall have a board of directors, consisting of one or more
members.

2. The chairman of the board of directors shall fix the number of the directors.
If the office of the chairman is vacated the number shall be fixed by the board
itself.

3. The general meeting of shareholders shall appoint the directors and shall at
all times have power to suspend or to dismiss every one of the directors.

4. The chairman of the board of directors may fix a remuneration for the
directors in respect of the performance of their duties, provided that nothing
herein contained shall preclude any directors from serving the company or any
subsidiary or related company thereof in any other capacity and receiving
compensation therefore.

Article 12

1. The board of directors shall, subject to the limitations contained in these
Articles of Association, be in charge of the management of the company.

     2. The board of directors shall, from among their number, appoint a
chairman, and shall have power to appoint a co-chairman, a chief executive
officer and one or more presidents and vice-presidents.

The board of directors shall furthermore have power to appoint a secretary of
the board of directors.

The office of chairman and chief executive officer shall be capable of being
held by one and the same person.

3. The board of directors shall draw up board regulations to deal with matters
that concern the board internally.

The regulations may include an allocation of tasks amongst the directors and the
chairman and the co-chairman and may provide for delegation of powers. The
regulations shall contain provisions concerning the manner meetings of the board
of directors are called and held. These meetings may be held by telephone
conference or video conference, provided all participating directors can hear
each other simultaneously.

4. The board of directors can only adopt valid resolutions when the majority of
the directors in office shall be present at the board meeting or be represented
thereat.

5. A member of the board of directors may only be represented by a co-member of
the board authorized in writing.

The expression in writing shall include any message transmitted by current means
of communication and received in writing.

<PAGE>

A member of the board of directors may not act as proxy for more than one
co-member.

6. All resolutions shall be adopted by the favourable vote of the majority of
the directors present or represented at the meeting. Each director shall have
one vote. If there is a tie in a vote, the chairman of the board of directors
shall have a casting vote.

7. The board of directors shall be authorized to adopt resolutions without
convening a meeting if all directors shall have expressed their opinions in
writing, unless one or more directors shall object against a resolution being
adopted in this way. A resolution shall in this case be adopted if the majority
of all directors shall have expressed themselves in favour of the resolution
concerned. The provision of the second sentence of paragraph 5 shall apply
mutatis mutandis.

8. If the office(s) of one or more directors be vacated or if one or more
directors be otherwise unavailable, the remaining directors or the remaining
director shall temporarily be vested with the entire management. If the offices
of all directors be vacated or if all directors be otherwise unable to act, the
management shall temporarily be vested in the person or persons whom the general
meeting of shareholders shall every year appoint for that purpose.

COMMITTEES

Article 13

The board of directors shall have power to appoint committees, composed of
directors and officers of the company and of group companies. The board of
directors shall determine their duties and powers.

REPRESENTATION

Article 14

1. The general authority to represent the company shall be vested in the board
of directors, the chairman, the co-chairman and the chief executive officer
severally. The board of directors may also confer authority to represent the
company, jointly or severally, to any one or more directors and/or officers of
the company who would thereby be granted powers of representation with respect
to such acts or categories of acts as the board may determine and shall notify
to the Trade Register.

2. Where a director has an interest which conflicts with the interest of the
company, directly or indirectly, the board of directors, the chairman, the
co-chairman and the

<PAGE>

chief executive officer severally may nevertheless represent the company.

INDEMNITY

Article 15

The company shall indemnify any and all of its directors or officers or former
directors or officers or any person who may have served at its request as a
director or officer of another company in which it owns shares or of which it is
a creditor against expenses actually and necessarily incurred by them in
connection with the defence of any action, suit or proceeding in which they, or
any of them, are made parties, or a party, by reason of being or having been
directors or officers or a former director or officer of the company, or of such
other company, except in relation to matters as to which any such director or
officer or former director or officer or person shall be adjudged in such
action, suit or proceeding to be liable for negligence or misconduct in the
performance of duty. Such indemnification shall not be deemed exclusive of any
other rights to which those indemnified may be entitled otherwise.

GENERAL MEETING OF SHAREHOLDERS

Article 16

1. At least one general meeting of shareholders shall be held every year, which
meeting shall be held within six months after the close of the financial year.

2. Furthermore, general meetings of shareholders shall be held in the case
referred to in article 108a, Book 2 of the Civil Code and as often as the board
of directors, the chairman or co-chairman of the board or the chief executive
officer deems it necessary to hold them, without prejudice to what has been
provided in the next paragraph hereof.

3. The board of directors shall have the obligation to call a general meeting of
shareholders, if one or more of those having the right to vote who hold, as
between them, at least ten percent of the issued share capital make a request in
writing to the board to that effect, stating the matters to be dealt with.

If the board of directors fails in that event to call a meeting, in such a way
that it is held within six weeks after the aforesaid request has been received,
then every one of those who have made such a request shall be entitled himself
to call such a meeting, subject to due observance of what has been provided
thereon in these Articles of Association.

4. General meetings of shareholders shall be held in Amsterdam, Schiphol
Airport,

<PAGE>

Rotterdam, or The Hague, and shall be called by the board of directors, the
chairman or the co-chairman of the board or the chief executive officer, by
means of publication of a notice to that effect in a nationally distributed
daily newspaper and in such other manner as may be required to comply with
applicable stock exchange regulations, not later than on the fifteenth day prior
to the meeting.

Additionally the board of directors shall give notice of the meeting to the
shareholders by letter, cable, telex or telefax to be sent to the addresses
recorded in the register of shareholders at least fifteen days prior to the
meeting.

5. The notice shall state the place, date and hour of the meeting and the agenda
of the meeting or shall state that the shareholders and all other persons who
shall have the statutory right to attend the meeting may inspect the same at the
office of the company and at such other place(s) as the board of directors shall
determine.

6. The agenda shall contain such subjects as the person(s) convening the meeting
shall decide, and furthermore such other subjects as one or more of those having
the right to vote who hold, as between them, at least ten percent of the issued
capital, have so requested the board of directors in writing at least seven days
before the date on which the meeting is convened.

7. When convening a general meeting of shareholders, the board of directors may
determine that, for the purpose of this article 16 and article 17 hereof, as
persons with the right to vote or attend meetings shall be considered those
persons who have these rights at a date to be specified in the notice of the
meeting (the "record date") and are registered as such in the register of
shareholders if they are shareholders and in a register to be designated by the
board of directors for such purpose if they are not shareholders, irrespective
whether they will have these rights at the date of the meeting. The record date
may not be set earlier than on the seventh day prior to the meeting.

The notice of the meeting shall further state the manner and the place where
others than the shareholders who are permitted by law to attend the meeting must
deposit documentary evidence of their right to attend and the day on which this
must take place at the latest which day may not be set earlier than on the
seventh day prior to the meeting. If the board of directors has specified a
record date the persons who have made the deposit shall be registered in the
register referred to hereinbefore.

8. If a proposal to amend the company's Articles of Association is to be dealt
with, a

<PAGE>

copy of that proposal, in which the proposed amendments are stated verbatim,
shall be made available for inspection to the shareholders and others who are
permitted by law to attend the meeting, at the office of the company, as from
the day the meeting of shareholders is called until after the close of that
meeting, and each of them shall be entitled, upon his request, to obtain a copy
thereof, without charge.

Article 17

1. The general meeting of shareholders shall be presided over by the chairman of
the board of directors or, in his absence, by the co-chairman or in the absence
of the latter by the person chosen by the board of directors to act as chairman
for such meeting.

2. One of the persons present designated for that purpose by the chairman of the
meeting shall act as secretary and take minutes of the business transacted. The
minutes shall be confirmed by the chairman of the meeting and the secretary and
signed by them in witness thereof.

3. If an official notarial record is made of the business transacted at the
meeting then minutes need not be drawn up and it shall suffice that the official
notarial record be signed by the notary. Each director shall at all times have
power to give instructions for having an official notarial record made at the
company's expense.

4. Shareholders and those permitted by law to attend the meetings may cause
themselves to be represented at any meeting by a proxy duly authorized in
writing, provided they shall notify the company in writing of their wish to be
represented at such time and place as shall be stated in the notice of the
meetings.

The board of directors may determine further rules concerning the deposit of the
powers of attorney; these shall be mentioned in the notice of the meeting.

5. The chairman of the meeting shall decide on the admittance to the meeting of
persons other than those who are entitled to attend.

6. The chairman may determine the time for which shareholders and others who are
permitted to attend the general meeting of shareholders may speak if he
considers this desirable with a view to the order by conduct of the meeting.

7. Every share shall confer the right to cast one vote.

8. All resolutions shall be passed with an absolute majority of the votes
validly cast unless otherwise specified herein. Blank votes shall not be counted
as votes cast.

9. No voting rights shall be exercised in the general meeting of shareholders
for

<PAGE>
shares owned by the company or by a subsidiary of the company; likewise no
voting rights shall be exercised for shares of which the certificates of
beneficial ownership are held by the company or the subsidiary. Usufructuaries
of shares owned by the company and its subsidiaries shall however not be
excluded from exercising their voting rights, if the usufruct was created before
the shares were owned by the company or a subsidiary.

AUDIT

Article 18

1. The general meeting of shareholders shall appoint an accountant as referred
to in Article 393 of Book 2 of the Civil Code, to examine the annual accounts
drawn up by the board of directors, to report thereon to the board of directors,
and to express an opinion with regard thereto.

2. If the general meeting fails to appoint the accountant as referred to in
paragraph 1 of this article, this appointment shall be made by the board of
directors.

3. The appointment provided for in paragraph 1 may at all times be cancelled by
the general meeting and if the appointment has been made by the board of
directors, also by the board of directors.

FINANCIAL YEAR, ANNUAL ACCOUNTS AND DISTRIBUTION OF PROFITS

Article 19

1. The financial year of the company shall coincide with the calendar year.

2. The board of directors shall annually close the books of the company as at
the last day of every financial year and shall within five months thereafter -
subject to any extension of this time limit up to a maximum extension of six
months, by the general meeting by reason of special circumstances - draw up
annual accounts consisting of a balance sheet, a profit and loss account and
explanatory notes, and shall within that period make these documents available
to the shareholders for inspection at the offices of the company. The board of
directors shall within that period similarly make the annual report available to
shareholders for inspection.

3. If the activity of the company or the international structure of its group
justifies the same, its annual accounts or only its consolidated accounts may be
prepared in a foreign currency.

4. The annual accounts shall be signed by all the directors; should any
signature be

<PAGE>

missing, then this shall be mentioned in the annual accounts, stating the
reason.

5. The company shall ensure that the annual accounts, the annual report and the
particulars to be added in accordance with article 392 paragraph 1 of Book 2 of
the Civil Code are available at its office as from the date on which the general
meeting of shareholders at which they are intended to be dealt with is called.
The shareholders and those who are permitted by law to attend the meetings of
shareholders shall be enabled there to inspect these documents and to obtain
copies thereof free of charge.

6. The general meeting of shareholders shall adopt the annual accounts.

Article 20

1. From the profits, shown in the annual accounts, as adopted, such amounts
shall be reserved as the board of directors shall determine.

2. The profits remaining thereafter shall, if possible, first be applied to
distribute in respect of the preference shares that percent of the sum of their
nominal amount and the share premium reserve relating to the preference shares,
which will be determined annually by the general meeting of shareholders. If in
a prior year or years less than the aforementioned annual dividend in respect of
the nominal amount of the preference shares and the share premium reserve
relating to the preference shares was distributed, the distributable profit
shall furthermore be applied, insofar as available, to make up for any part of
the aforementioned dividend which was not paid.

3. Any profits remaining thereafter shall be at the disposal of the general
meeting of shareholders for distribution of dividend on the common shares only,
subject to the provision of paragraph 8.

4. The general meeting of shareholders may declare and pay dividends in United
States Dollars or in shares of the company or in the form of a combination
thereof.

5. The company shall only have power to make distributions to shareholders and
other persons entitled to distributable profits to the extent the company's
equity exceeds the sum of the paid-up portion of the share capital and the
reserves that must be maintained in accordance with provision of law. No
distribution of profits may be made to the company itself for shares that the
company holds in its own share capital.

6. The distribution of profits shall be made after the adoption of the annual
accounts, from which it appears that the same is permitted.

7. The board of directors shall have power to declare one or more interim
dividends,

<PAGE>

provided that the requirements of the fourth paragraph hereof are duly observed
as evidenced by an interim statement of assets and liabilities as referred to in
article 105 paragraph 4 of Book 2 of the Civil Code.

The provisions of paragraph 3 hereof shall apply mutatis mutandis.

8. The board of directors may determine that dividends or interim dividends, as
the case may be, shall be paid, in whole or in part, from the company's share
premium reserve or from any other reserve.

9. Dividends and other distributions of profit shall be made payable in the
manner and at such date(s) - within four weeks after declaration thereof - and
notice thereof shall be given, as the general meeting of shareholders, or in the
case of interim dividends, the board of directors shall determine.

10. Dividends and other distributions of profit, which have not
been collected within six years after the same have become payable, shall become
the property of the company.

DISSOLUTION AND WINDING-UP

Article 21

1. In the event a resolution is passed to dissolve the company, the company
shall be wound-up by the board of directors, unless the general meeting of
shareholders should resolve otherwise.

2. The general meeting of shareholders shall appoint and decide on the
remuneration of the liquidators.

3. Until the winding-up of the company has been completed, these Articles of
association shall to the extent possible, remain in full force and effect.

4. Whatever remains of the company's equity after all its debts have been
discharged shall first be applied to distribute to the holders of preference
shares any amount by which the dividend paid to them in any year was less than
an amount equal to the percentage referred to in article 20(2) of the nominal
amount of their preference shares and the share premium reserve relating to the
preference shares, subsequently, the nominal amount of their preference shares
and thereafter the amount of the share premium reserve relating to the
preference shares. Any remaining assets shall be distributed to the holders of
common shares in proportion to the aggregate nominal amount of their common
shares and, if only preference shares are issued and outstanding, to the holders
of preference shares in proportion to aggregate nominal

<PAGE>
 amount of preference shares. No liquidation distribution may be made to the
company itself for shares that the company holds in its own share capital.

5. After the company has ceased to exist the books and records of the company
shall remain in the custody of the person designated for that purpose by the
liquidators for the period provided by law.

CONCLUSION The person appearing is known to me, civil-law notary.

This deed                                                           was executed
in Rotterdam on the date mentioned in its heading.

After I, civil-law notary, had conveyed and explained the contents of the deed
in substance to the person appearing, he declared that he had taken note of the
contents of the deed and did not wish it to be read out in full.

Following a partial reading, the deed was signed by the person appearing and me,
civil law notary.

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