Document:

EXHIBIT 10.1

 

THE SECOND AMENDED 1997 OPTION PLAN

FOR KEY EMPLOYEES OF

AMPHENOL AND SUBSIDIARIES

 

1.                                       Purpose
of Plan

 

The Second Amended 1997 Option Plan for Key Employees of Amphenol and
Subsidiaries (the “Plan”) is designed:

 

(a)  to promote the long term
financial interests and growth of Amphenol Corporation (the “Corporation”) and
its subsidiaries by attracting and retaining management personnel with the
training, experience and ability to enable them to make a substantial
contribution to the success of the Corporation’s business;

 

(b)  to motivate management
personnel by means of growth-related incentives to achieve long range goals;
and

 

(c)  to further the alignment of
interests of participants with those of the stockholders of the Corporation
through opportunities for increased stock, or stock-based, ownership in the
Corporation.

 

2.                                       Definitions

 

As used in the Plan, the following words shall have the following
meanings:

 

(a)                                  “Board
of Directors” means the Board of Directors of the Corporation.

 

(b)                                 “Code”
means the Internal Revenue Code of 1986, as amended.

 

(c)                                  “Committee”
means the Compensation Committee of the Board of Directors.

 

(d)                                 “Common
Stock” or “Share” means Series A Common Stock of the Corporation which may be
authorized but unissued, or issued and reacquired.

 

(e)                                  “Employee”
means a person, including an officer, in the regular full-time employment of
the Corporation or one of its Subsidiaries who, in the opinion of the
Committee, is, or is expected to be, primarily responsible for the management,
growth or protection of some part or all of the business of the Corporation.

 

(f)                                    “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

(g)                                 “Fair
Market Value” means such value of a Share as reported for stock exchange
transactions and/or determined in accordance with any applicable resolutions or
regulations of the Committee in effect at the relevant time.

 

(h)                                 “Management
Stockholders’ Agreement” means an agreement between the Corporation and a
Participant that sets forth the terms and conditions and limitations applicable
to any Shares purchased pursuant to Options granted under this Plan.

 

(i)                                     “Option
Agreement” means an agreement between the Corporation and a Participant that
sets forth the terms, conditions and limitations applicable to a grant of
Options pursuant to the Plan.

 

 

(j)                                     “Option”
means an option to purchase shares of the Common Stock which will not be an
“incentive stock option” (within the meaning of Section 422 of the Code).

 

(k)                                  “Participant”
means an Employee, or other person having a unique relationship with the
Corporation or one of its Subsidiaries, to whom one or more grants of Options
have been made and such grants have not all been forfeited or terminated under
the Plan; provided, however, that a non-employee director of the Corporation or
one of its Subsidiaries may not be a Participant.

 

(l)                                     “Subsidiary”
shall mean any corporation in an unbroken chain of corporations beginning with
the Corporation if each of the corporations, or group of commonly controlled
corporations, other than the last corporation in the unbroken chain then owns
stock possessing 50% or more of the total combined voting power of all classes
of stock in one of the other corporations in such chain.

 

3.                                       Administration
of Plan

 

(a)                                  The
Plan shall be administered by the Committee. 
None of the members of the Committee shall be eligible to be selected
for Option grants or to purchase Shares under the Plan, or have been so
eligible for selection within one year prior thereto; provided, however, that
the members of the Committee shall qualify to administer the Plan for purposes
of Rule 16b-3 (and any other applicable rule) promulgated under
Section 16(b) of the Exchange Act to the extent that the Corporation is
subject to such rule.  The Committee may
adopt its own rules of procedure, and action of a majority of the members of
the Committee taken at a meeting, or action taken without a meeting by
unanimous written consent, shall constitute action by the Committee.  The Committee shall have the power and
authority to administer, construe and interpret the Plan, to make rules for
carrying it out and to make changes in such rules.  Any such interpretations, rules and administration shall be
consistent with the basic purposes of the Plan.

 

(b)                                 The
Committee may delegate to the Chief Executive Officer and to other senior
officers of the Corporation its duties under the Plan subject to such
conditions and limitations as the Committee shall prescribe except that only
the Committee may designate and make Option grants to Participants who are
subject to Section 16 of the Exchange Act.

 

(c)                                  The
Committee may employ attorneys, consultants, accountants, appraisers, brokers
or other persons.  The Committee, the
Corporation, and the officers and directors of the Corporation shall be
entitled to rely upon the advice, opinions or valuations of any such
persons.  All actions taken and all
interpretations and determinations made by the Committee in good faith shall be
final and binding upon all Participants, the Corporation and all other
interested persons.  No member of the
Committee shall be personally liable for any action, determination or
interpretation made in good faith with respect to the Plan or Option grants,
and all members of the Committee shall be fully protected by the Corporation
with respect to any such action, determination or interpretation.

 

4.                                       Eligibility

 

The Committee may from time to time make Option grants under the Plan
to such Employees, or other persons having a unique relationship with Corporation
or any of its Subsidiaries, and in such form and having such terms, conditions
and limitations as the Committee may determine.  No Option grants may be made under this Plan to non-employee
directors of Corporation or any of its Subsidiaries.  Options may be granted singly, in combination or in tandem.  The terms, conditions and limitations of
each Option grant under the Plan shall be set forth in an Option Agreement, in
a form approved by the Committee, consistent, however, with the terms of the
Plan and the Management Stockholders’ Agreement.

 

 

5.                                       Grants

 

From time to time, the Committee, in its sole discretion, will
determine the forms and amounts of Options to be granted to Participants.  At the time of an Option grant, the
Committee shall determine, and shall include in the Option Agreement or other
Plan rules, the option exercise period, the option price, and such other
conditions or restrictions on the grant or exercise of the Option as the
Committee deems appropriate.  In
addition to other restrictions contained in the Plan, an Option granted under
this Paragraph 5, (i) may not be exercised more than 10 years after the date it
is granted and (ii) may not have an option exercise price less than 50% of the
Fair Market Value of Common Stock on the date the Option is granted.  Payment of the option price shall be made in
cash or in shares of Common Stock, or a combination thereof, in accordance with
the terms of the Plan, the Option Agreement and of any applicable guidelines of
the Committee in effect at the time.

 

Options may be granted prior to the effective date of the Plan (as
determined pursuant to Paragraph 13 herein); provided, however, that no Option
shall be Exercisable prior to the date of the approval of the Plan by the
stockholders of the Corporation.

 

6.                                       Limitations
and Conditions

 

(a)                                  The
number of Shares available under this Plan shall be 2,826,000 Shares of the authorized Common Stock as of the
effective date of the Plan.  The number
of Shares subject to Options under this Plan to any one Participant shall not
be more than 1,000,000 Shares.  Unless
restricted by applicable law, Shares related to Options that are forfeited,
terminated, cancelled or expire unexercised, shall immediately become available
to be subject to Option grants.

 

(b)                                 No
Options shall be granted under the Plan beyond ten years after the effective
date of the Plan, but the terms of Options granted on or before the expiration
of the Plan may extend beyond such expiration. 
At the time an Option is granted or amended or the terms or conditions
of an Option are changed, the Committee may provide for limitations or
conditions on such grant or purchase consistent with the terms of the
Management Stockholders’ Agreement.

 

(c)                                  Nothing
contained herein shall affect the right of the Corporation to terminate any
Participant’s employment at any time or for any reason.

 

(d)                                 Other
than as specifically provided for in the Management Stockholder’s Agreement or
an Option Agreement or with regard to the death of a Participant, no benefit
under the Plan shall be subject in any manner to anticipation, alienation,
sale, transfer, assignment, pledge, encumbrance, or charge, and any attempt to
do so shall be void.  No such benefit
shall, prior to receipt thereof by the Participant, be in any manner liable for
or subject to the debts, contracts, liabilities, engagements, or torts of the
Participant.

 

(e)                                  Participants
shall not be, and shall not have any of the rights or privileges of,
stockholders of the Corporation in respect of any Shares purchasable in
connection with any Option grant unless and until certificates representing any
such Shares have been issued by the Corporation to such Participants.

 

(f)                                    No
election as to benefits or exercise of Options may be made during a
Participant’s lifetime by anyone other than the Participant except by a legal
representative appointed for or by the Participant.

 

(g)                                 Absent
express provisions to the contrary, any grant of Options under this Plan shall
not be deemed compensation for purposes of computing benefits or contributions
under any retirement plan of the Corporation or its Subsidiaries and shall not
affect any benefits under any other benefit plan of any kind now or

 

 

subsequently in effect under which the availability or amount of
benefits is related to level of compensation. 
This Plan is not a “Retirement Plan” or “Welfare Plan” under the
Employee Retirement Income Security Act of 1974, as amended.

 

h)                                     Unless
the Committee determines otherwise, no benefit or promise under the Plan shall
be secured by any specific assets of the Corporation or any of its
Subsidiaries, nor shall any assets of the Corporation or any of its
Subsidiaries be designated as attributable or allocated to the satisfaction of
the Corporation’s obligations under the Plan.

 

7.                                       Transfers
and Leaves of Absence

 

For purposes of the Plan, unless the Committee determines otherwise:
(a) a transfer of a Participant’s employment without an intervening period of
separation among the Corporation and any Subsidiary shall not be deemed a termination
of employment, and (b) a Participant who is granted in writing a leave of
absence shall be deemed to have remained in the employ of the Corporation
during such leave of absence.

 

8.                                       Adjustments

 

In the event of any change in the outstanding Common Stock by reason of
a stock split, spin-off, stock dividend, stock combination or reclassification,
recapitalization or merger, change of control, or similar event, the Committee
may adjust appropriately the number of Shares subject to the Plan and available
for or covered by Option grants and exercise prices related to outstanding
Option grants and make such other revisions to outstanding Option grants as it
deems are equitably required.

 

9.                                       Merger,
Consolidation, Exchange,

Acquisition, Liquidation or Dissolution

 

In its absolute discretion, and on such terms and conditions as it
deems appropriate, coincident with or after the grant of any Option, the
Committee may provide that such Option cannot be exercised after the merger or
consolidation of the Corporation into another corporation, the exchange of all
or substantially all of the assets of the Corporation for the securities of
another corporation, the acquisition by another corporation of 80% or more of
the Corporation’s then outstanding shares of voting stock or the
recapitalization, reclassification, liquidation or dissolution of the
Corporation (a “Transaction”), and if the Committee so provides, it shall, on
such terms and conditions as it deems appropriate, also provide, either by the
terms of such Option or by a resolution adopted prior to the occurrence of such
Transaction, that, for some reasonable period of time prior to such
Transaction, such Option shall be exercisable as to all shares subject thereto,
notwithstanding anything to the contrary herein (but subject to the provisions
of Paragraph 6(b)) and that, upon the occurrence of such event, such Option
shall terminate and be of no further force or effect; provided, however, that
the Committee may also provide, in its absolute discretion, that even if the
Option shall remain exercisable after any such event, from and after such
event, any such Option shall be exercisable only for the kind and amount of
securities and/or other property, or the cash equivalent thereof, receivable as
a result of such event by the holder of a number of shares of stock for which
such Option could have been exercised immediately prior to such event.

 

10.                                 Amendment
and Termination

 

The Committee shall have the authority to make such amendments to any
terms and conditions applicable to outstanding Option grants as are consistent
with this Plan provided that, except for adjustments under Paragraph 8 or 9
hereof, no such action shall modify such Option grant in a manner adverse to
the Participant without the Participant’s consent except as such modification
is provided for or contemplated in the terms of the Option grant.

 

 

 

The Board of Directors may amend, suspend or terminate the Plan except
that no such action, other than an action under Paragraph 8 or 9 hereof, may be
taken which would, without shareholder approval, increase the aggregate number
of Shares subject to Options under the Plan, decrease the exercise price of
outstanding Options, change the requirements relating to the Committee or
extend the term of the Plan.

 

11.                                 Foreign
Options and Rights

 

The Committee may grant Options to Employees who are subject to the
laws of nations other than the United States, which Option grants may have
terms and conditions that differ from the terms thereof as provided elsewhere
in the Plan for the purpose of complying with foreign laws.

 

12.                                 Withholding
Taxes

 

The Corporation shall have the right to deduct from any cash payment
made under the Plan any federal, state or local income or other taxes required
by law to be withheld with respect to such payment.  It shall be a condition to the obligation of the Corporation to
deliver shares upon the exercise of an Option that the Participant pay to the
Corporation such amount as may be requested by the Corporation for the purpose
of satisfying any liability for such withholding taxes.  Any Option Agreement may provide that the
Participant may elect, in accordance with any conditions set forth in such
Option Agreement, to pay a portion or all of such withholding taxes in shares
of Common Stock.

 

13.                                 Effective
Date and Termination Dates

 

The Plan shall be effective on and as of the date of its approval by
the stockholders of the Corporation and shall terminate ten years later,
subject to earlier termination by the Board of Directors pursuant to Paragraph
10.EXHBIT 10.2

 

THE AMENDED 2000 STOCK PURCHASE AND OPTION
PLAN

FOR KEY EMPLOYEES OF

AMPHENOL AND SUBSIDIARIES

 

1.                                       Purpose
of Plan

 

The Amended 2000 Stock Purchase and Option Plan for Key Employees of
Amphenol and Subsidiaries (the “Plan”) is designed:

 

(a) to promote the long term
financial interests and growth of Amphenol Corporation (the “Corporation”) and
its subsidiaries by attracting and retaining management personnel with the
training, experience and ability to enable them to make a substantial contribution
to the success of the Corporation’s business;

 

(b) to motivate management
personnel by means of growth-related incentives to achieve long range goals;
and

 

(c) to further the alignment of
interests of participants with those of the stockholders of the Corporation
through opportunities for increased stock, or stock-based, ownership in the
Corporation.

 

2.                                       Definitions

 

As used in the Plan, the following words shall have the following
meanings:

 

(a)                                  “Board of Directors” means the Board of Directors of the Corporation.

 

(b)                                 “Code” means the Internal Revenue Code of 1986, as amended.

 

(c)                                  “Committee” means the Compensation Committee of the Board of Directors.

 

(d)                                 “Common Stock” or “Share” means Series A Common Stock of the
Corporation which may be authorized but unissued, or issued and reacquired.

 

(e)                                  “Employee” means a person, including an officer, in the regular
full-time employment of the Corporation or one of its Subsidiaries who, in the
opinion of the Committee, is, or is expected to be, primarily responsible for
the management, growth or protection of some part or all of the business of the
Corporation.

 

(f)                                    “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

(g)                                 “Fair Market Value” means such value of a Share as reported for stock exchange
transactions and/or determined in accordance with any applicable resolutions or
regulations of the Committee in effect at the relevant time.

 

(h)                                 “Grant” means an award made to a Participant pursuant to the Plan and
described in Paragraph 5, including, without limitation, an award of a
Non-Qualified Stock Option, Stock Appreciation Right, Dividend Equivalent
Right, Restricted Stock, Purchase Stock, Performance Units, Performance Shares
or Other Stock-Based Grant or any combination of the foregoing.

 

 

(i)                                     “Grant Agreement” means an agreement between the Company and a
Participant that sets forth the terms, conditions and limitations applicable to
a Grant.

 

(j)                                     “Management Stockholders’ Agreement” means an agreement between the
Corporation and a Participant that sets forth the terms and conditions and
limitations applicable to any Shares purchased pursuant to this Plan.

 

(k)                                  “Option” means an option to purchase shares of the Common Stock which
will not be an “incentive stock option” (within the meaning of Section 422
of the Code).

 

(l)                                     “Participant” means an Employee, or other person having a unique
relationship with the Corporation or one of its Subsidiaries, to whom one or
more Grants have been made and such Grants have not all been forfeited or terminated
under the Plan; provided, however, that a non-employee director of the
Corporation or one of its Subsidiaries may not be a Participant.

 

(m)                               “Stock-Based Grants” means the collective reference to the grant of
Stock Appreciation Rights, Dividend Equivalent Rights, Restricted Stock,
Performance Units, Performance Shares and Other Stock-Based Grants.

 

(n)                                 “Subsidiary” shall mean any corporation in an unbroken chain of
corporations beginning with the Corporation if each of the corporations, or
group of commonly controlled corporations, other than the last corporation in
the unbroken chain then owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in such
chain.

 

3.                                       Administration
of Plan

 

(a) The Plan shall be
administered by the Committee.  None of
the members of the Committee shall be eligible to be selected for Grants under
the Plan, or have been so eligible for selection within one year prior thereto;
provided, however, that the members of the Committee shall qualify to
administer the Plan for purposes of Rule 16b-3 (and any other applicable rule)
promulgated under Section 16(b) of the Exchange Act to the extent that the
Corporation is subject to such rule. 
The Committee may adopt its own rules of procedure, and action of a
majority of the members of the Committee taken at a meeting, or action taken
without a meeting by unanimous written consent, shall constitute action by the
Committee.  The Committee shall have the
power and authority to administer, construe and interpret the Plan, to make
rules for carrying it out and to make changes in such rules.  Any such interpretations, rules and
administration shall be consistent with the basic purposes of the Plan.

 

(b) The Committee may delegate to
the Chief Executive Officer and to other senior officers of the Corporation its
duties under the Plan subject to such conditions and limitations as the
Committee shall prescribe except that only the Committee may designate and make
Grants to Participants who are subject to Section 16 of the Exchange Act.

 

(c) The Committee may employ
attorneys, consultants, accountants, appraisers, brokers or other persons.  The Committee, the Corporation, and the
officers and directors of the Corporation shall be entitled to rely upon the
advice, opinions or valuations of any such persons.  All actions taken and all interpretations and determinations made
by the Committee in good faith shall be final and binding upon all Participants,
the Corporation and all other interested persons.  No member of the Committee shall be personally liable for any
action, determination or interpretation made in good faith with respect to the
Plan or Grants, and all members of the Committee shall be fully protected by
the Corporation with respect to any such action, determination or
interpretation.

 

 

4.                                       Eligibility

 

The Committee may from time to time make Grants under the Plan to such
Employees, or other persons having a unique relationship with Corporation or
any of its Subsidiaries, and in such form and having such terms, conditions and
limitations as the Committee may determine. 
No Grants may be made under this Plan to non-employee directors of
Corporation or any of its Subsidiaries. 
Grants may be granted singly, in combination or in tandem.  The terms, conditions and limitations of
each Grant under the Plan shall be set forth in an Grant Agreement, in a form
approved by the Committee, consistent, however, with the terms of the Plan and
if applicable the Management Stockholders’ Agreement.

 

5.                                       Grants

 

From time to time, the Committee will determine the forms and amounts
of Grants for Participants.  Such Grants
may take the following forms in the Committee’s sole discretion:

 

(a)  Non-Qualified Stock Options - These are options to
purchase Common Stock which are not designated by the Committee as incentive
stock options.  At the time of the Grant
the Committee shall determine, and shall include in the Grant Agreement or
other Plan rules, the option exercise period, the option price, and such other
conditions or restrictions on the grant or exercise of the option as the
Committee deems appropriate, which may include the requirement that the grant
of options is predicated on the acquisition of Purchase Shares under Paragraph
5(d) by the Optionee.  In addition to
other restrictions contained in the Plan, an option granted under this
Paragraph 5(a): (i) may not be exercised more than 10 years after the date it
is granted and (ii) may not have an option exercise price less than the par value
of the Common Stock on the date the option is granted.  Payment of the option price shall be made in
cash or in shares of Common Stock, or a combination thereof, in accordance with
the terms of the Plan, the Grant Agreement and of any applicable guidelines of
the Committee in effect at the time.

 

(b)  Stock Appreciation Rights - These are rights that on
exercise entitle the holder to receive the excess of (i) the Fair Market Value
of a share of Common Stock on the date of exercise over (ii) the Fair Market
Value on the date of Grant, multiplied by (iii) the number of rights
exercised as determined by the Committee. 
Stock Appreciation Rights granted under the Plan may, but need not be,
granted in conjunction with an Option under Paragraph 5(a).  The Committee, in the Grant Agreement or by
other Plan rules, may impose such conditions or restrictions on the exercise of
Stock Appreciation Rights as it deems appropriate, and may terminate, amend, or
suspend such Stock Appreciation Rights at any time.  No Stock Appreciation Right granted under this Plan may be
exercised less than 6 months or more than 10 years after the date it is granted
except in the event of death or disability of a Participant.  To the extent that any Stock Appreciation
Right that shall have become exercisable, but shall not have been exercised or
cancelled or, by reason of any termination of employment, shall have become
non-exercisable, it shall be deemed to have been exercised automatically,
without any notice of exercise, on the last day on which it is exercisable,
provided that any conditions or limitations on its exercise are satisfied
(other than (i) notice of exercise and (ii) exercise or election to exercise
during the period prescribed) and the Stock Appreciation Right shall then have
value.  Such exercise shall be deemed to
specify that the holder elects to receive cash and that such exercise of a
Stock Appreciation Right shall be effective as of the time of automatic
exercise.

 

(c)  Restricted Stock - Restricted Stock is Common Stock
delivered to a Participant with or without payment of consideration with
restrictions or conditions on the Participant’s right to transfer or sell such
stock; provided that the price of any Restricted Stock delivered for
consideration and not as bonus stock may not be less than par value of Common
Stock on the date such Restricted Stock is granted or the price of such
Restricted Stock may be the par value. 
If a Participant irrevocably elects in writing in the calendar year
preceding a Grant of Restricted Stock, dividends paid on the Restricted Stock
granted may be paid in shares of Restricted Stock equal to the cash dividend
paid on Common Stock.  The number of
shares of Restricted Stock and the restrictions or conditions on such shares
shall be as the Committee determines, in the Grant Agreement or by other Plan
rules, and the certificate for the Restricted Stock shall bear evidence of the
restrictions or conditions.  No
Restricted Stock may have a

 

 

restriction period of less than 6 months, other than in the
case of death or disability.

 

(d)  Purchase Stock - Purchase Stock refers to shares of Common
Stock offered to a Participant at such price as determined by the Committee,
the acquisition of which will make him eligible to receive under the Plan, including,
but not limited to, Non-Qualified Stock Options; provided, however,
that the price of  such Purchase Shares
may not be less than the par value of the Common Stock on the date such shares
of Purchase Stock are offered.

 

(e)  Dividend Equivalent Rights - These are rights to receive
cash payments from the Company at the same time and in the same amount as any
cash dividends paid on an equal number of shares of Common Stock to
shareholders of record during the period such rights are effective.  The Committee, in the Grant Agreement or by
other Plan rules, may impose such restrictions and conditions on the Dividend
Equivalent Rights, including the date such rights will terminate, as it deems
appropriate, and may terminate, amend, or suspend such Dividend Equivalent
Rights at any time.

 

(f)  Performance Units - These are rights to receive at a
specified future date payment in cash of an amount equal to all or a portion of
the value of a unit granted by the Committee. 
At the time of the Grant, in the Grant Agreement or by other Plan rules,
the Committee must determine the Fair Market Value of the unit, the performance
factors applicable to the determination of the ultimate payment value of the
unit and the period over which the Company’s performance will be measured.  These factors must include a minimum
performance standard for the Company below which no payment will be made and a
maximum performance level above which no increased payment will be made.  The term over which the Company’s
performance will be measured shall be not less than six months.

 

(g)  Performance Shares - These are rights to receive at a
specified future date payment in cash or Common Stock, as determined by the
Committee, of an amount equal to all or a portion of the average Fair Market
Value for all days that the Common Stock is traded during the last forty-five
(45) days of the specified period of performance of a specified number of
shares of Common Stock at the end of a specified period based on the Company’s
performance during the period.  At the
time of the Grant, the Committee, in the Grant Agreement or by Plan rules, will
determine the factors which will govern the portion of the rights so payable
and the period over which the Company’s performance will be measured.  The factors will be based on the Company’s
performance and must include a minimum performance standard for the Company
below which no payment will be made and a maximum performance level above which
no increased payment will be made.  The
term over which the Company’s performance will be measured shall be not less
than six months.  Performance Shares
will be granted for no consideration.

 

(h)  Other Stock-Based Grants - The Committee may make other
Grants under the Plan pursuant to which shares of Common Stock (which may, but
need not, be shares of Restricted Stock pursuant to Paragraph 5(c)) or other
equity securities of the Company are or may in the future be acquired, or
Grants denominated in stock units, including ones valued using measures other
than market value.  Other Stock-Based
Grants may be granted with or without consideration; provided, however,
that the price of any such Grant made for consideration that provides for the
acquisition of shares of Common Stock or other equity securities of the Company
may not be less than the par value of the Common Stock or such other equity
securities on the date of such Grant. 
Such Other Stock-Based Grants may be made alone, in addition to or in
tandem with any Grant of any type made under the Plan and must be consistent with
the purposes of the Plan.

 

6.                                       Limitations
and Conditions

 

(a)  The number of Shares available for Grants under this Plan shall
be 4,000,000 Shares of the authorized Common
Stock as of the effective date of the Plan. 
The number of Shares subject to Options under this Plan to any one
Participant shall not be more than 1,000,000 Shares.  Unless restricted by
applicable law, Shares related to Grants that are forfeited, terminated,
cancelled or expire unexercised, shall immediately become available for Grants.

 

 

(b)  No Grants shall be granted under the Plan beyond ten years after
the effective date of the Plan, but the terms of Grants granted on or before
the expiration of the Plan may extend beyond such expiration.  At the time a Grant is granted or amended or
the terms or conditions of a Grant are changed, the Committee may provide for
limitations or conditions on such Grant or purchase consistent with the terms
of the Management Stockholders’ Agreement.

 

(c)  Nothing contained herein shall affect the right of the
Corporation to terminate any Participant’s employment at any time or for any
reason.

 

(d)  Other than as specifically provided with regard to the death of a
Participant, no benefit under the Plan shall be subject in any manner to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, or
charge, and any attempt to do so shall be void.  No such benefit shall, prior to receipt thereof by the
Participant, be in any manner liable for or subject to the debts, contracts,
liabilities, engagements, or torts of the Participant.

 

(e)  Participants shall not be, and shall not have any of the rights
or privileges of, stockholders of the Corporation in respect of any Shares
purchasable in connection with any Grant unless and until certificates
representing any such Shares have been issued by the Corporation to such
Participants.

 

(f)  No election as to benefits or exercise of Options, Stock
Appreciation Rights, or other rights may be made during a Participant’s
lifetime by anyone other than the Participant except by a legal representative
appointed for or by the Participant.

 

(g) Absent express provisions to
the contrary, any Grant under this Plan shall not be deemed compensation for
purposes of computing benefits or contributions under any retirement plan of
the Corporation or its Subsidiaries and shall not affect any benefits under any
other benefit plan of any kind now or subsequently in effect under which the
availability or amount of benefits is related to level of compensation.  This Plan is not a “Retirement Plan” or
“Welfare Plan” under the Employee Retirement Income Security Act of 1974, as
amended.

 

(h) Unless the Committee
determines otherwise, no benefit or promise under the Plan shall be secured by
any specific assets of the Corporation or any of its Subsidiaries, nor shall
any assets of the Corporation or any of its Subsidiaries be designated as
attributable or allocated to the satisfaction of the Corporation’s obligations
under the Plan.

 

7.                                       Transfers
and Leaves of Absence

 

For purposes of the Plan, unless the Committee determines otherwise:
(a) a transfer of a Participant’s employment without an intervening period of
separation among the Corporation and any Subsidiary shall not be deemed a
termination of employment, and (b) a Participant who is granted in writing a
leave of absence shall be deemed to have remained in the employ of the
Corporation during such leave of absence.

 

8.                                       Adjustments

 

(a)  In the event of any change in the outstanding Common Stock by
reason of a stock split, spin-off, stock dividend, stock combination or
reclassification, recapitalization or merger, change of control, or similar
event, the Committee may adjust appropriately the number of Shares subject to
the Plan and available for or covered by Grants and exercise prices related to
outstanding Grants and make such other revisions to outstanding Grants as it
deems are equitably required.

 

(b)  In the event that the Participant’s right to require the Company
to purchase his or her Shares or Options or the Company’s right to require the
Participant to sell his or her Shares or Options, as provided in Sections 5 and
6, respectively, of the Form of Management Stockholder’s Agreement

 

 

attached hereto as Exhibit A, or the Company’s Right of
First Refusal as provided in Section 4 of the Form of Management
Stockholder’s Agreement, gives rise to adverse accounting consequences to the
Company in respect of the treatment of Options granted pursuant to the Plan,
the Committee may, in its sole discretion, adjust the timing of the
exercisability of such outstanding Options to avoid such adverse accounting
consequences.

 

9.                                       Merger,
Consolidation, Exchange,

Acquisition, Liquidation or Dissolution

 

In its absolute discretion, and on such terms and conditions as it
deems appropriate, coincident with or after the grant of any Option or any
Stock-Based Grant, the Committee may provide that such Option or Stock-Based
Grant cannot be exercised after the merger or consolidation of the Corporation
into another corporation, the exchange of all or substantially all of the
assets of the Corporation for the securities of another corporation, the
acquisition by another corporation of 80% or more of the Corporation’s then
outstanding shares of voting stock or the recapitalization, reclassification,
liquidation or dissolution of the Corporation (a “Transaction”), and if the
Committee so provides, it shall, on such terms and conditions as it deems
appropriate, also provide, either by the terms of such Option or Stock-Based
Grant or by a resolution adopted prior to the occurrence of such Transaction,
that, for some reasonable period of time prior to such Transaction, such Option
or Stock-Based Grant shall be exercisable as to all shares subject thereto,
notwithstanding anything to the contrary herein (but subject to the provisions
of Paragraph 6(b)) and that, upon the occurrence of such event, such Option or
Stock-Based Grant shall terminate and be of no further force or effect;
provided, however, that the Committee may also provide, in its absolute
discretion, that even if the Option or Stock-Based Grant shall remain
exercisable after any such event, from and after such event, any such Option or
Stock-Based Grant shall be exercisable only for the kind and amount of
securities and/or other property, or the cash equivalent thereof, receivable as
a result of such event by the holder of a number of shares of stock for which
such Option or Stock-Based Grant could have been exercised immediately prior to
such event.

 

10.                                 Amendment
and Termination

 

The Committee shall have the authority to make such amendments to any
terms and conditions applicable to outstanding Grants as are consistent with
this Plan provided that, except for adjustments under Paragraph 8 or 9 hereof,
no such action shall modify such Grant in a manner adverse to the Participant
without the Participant’s consent except as such modification is provided for
or contemplated in the terms of the Grant.

 

The Board of Directors may amend, suspend or terminate the Plan except
that no such action, other than an action under Paragraph 8 or 9 hereof, may be
taken which would, without shareholder approval, increase the aggregate number
of Shares subject to Grants under the Plan, decrease the exercise price of
outstanding Options or Stock Appreciation Rights, change the requirements
relating to the Committee or extend the term of the Plan.

 

11.                                 Foreign
Options and Rights

 

The Committee may make Grants to Employees who are subject to the laws
of nations other than the United States, which Grants may have terms and
conditions that differ from the terms thereof as provided elsewhere in the Plan
for the purpose of complying with foreign laws.

 

 

12.                                 Withholding
Taxes

 

The Corporation shall have the right to deduct from any cash payment
made under the Plan any federal, state or local income or other taxes required
by law to be withheld with respect to such payment.  It shall be a condition to the obligation of the Corporation to
deliver shares upon the exercise of an Option or Stock Appreciation Right, upon
payment of Performance Units or Shares, upon delivery of Restricted Stock or
upon exercise, settlement or payment of any Other Stock-Based Grant that the
Participant pay to the Corporation such amount as may be requested by the
Corporation for the purpose of satisfying any liability for such withholding
taxes.  Any Grant Agreement may provide
that the Participant may elect, in accordance with any conditions set forth in
such Grant Agreement, to pay a portion or all of such withholding taxes in
shares of Common Stock.

 

13.                                 Effective
Date and Termination Dates

 

The Plan shall be effective on and as of the date of its approval by
the stockholders of the Corporation and shall terminate ten years later,
subject to earlier termination by the Board of Directors pursuant to Paragraph
10.

 

 

Amphenol  CORPORATION

 

 

	
   

  	
  Notice of Annual Meeting

  
	
   

  	
  and

  	
   

  
	
   

  	
  Proxy Statement

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Annual
  Meeting of Stockholders, May 21, 2003

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  IMPORTANT  Your proxy is enclosed.  Please fill in, date, sign and return your
  proxy promptly in the enclosed stamped envelope whether or not you plan to be
  present at the meeting.  You may still
  vote in person if you attend the meeting.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  AMP-PS-2003

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