Document:

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                                                                   EXHIBIT 10.9

                     SATURN ELECTRONICS & ENGINEERING, INC.
                                                                         DOC: #3
                       1995 MANAGEMENT STOCK OPTION PLAN

I.   PURPOSE.

     The purpose of this 1995 Management Stock Option Plan (the "Plan") is to
     give certain officers, executive personnel, and directors ("Participants")
     who are not affiliated with a corporate shareholder of Saturn Electronics &
     Engineering, Inc., a Michigan corporation (the "Company"), and corporations
     with respect to which the Company directly or indirectly controls 50% or
     more of the combined voting power ("Subsidiaries"), an opportunity to
     acquire options for future purchase of common stock of the Company ("Common
     Stock"). This plan is intended to provide an incentive for such
     Participants to continue to promote the best interests of the Company and
     enhance its long-term performance, and to provide an incentive for
     Participants to join or remain with the Company and its Subsidiaries.

     The Plan is based on the expectation that the shares of the Company will be
     publicly traded. However, there is no guarantee that the shares will be
     publicly traded. If none of the events described in Section IV (C or D)
     occur before stock options expire, Participants will not have the right to
     exercise stock options.

II.  ADMINISTRATION.

     A.   The Plan shall be administered by a committee ("Compensation
          Committee" or "Committee") appointed by the Board of Directors of the
          Company ("Board"). The Committee shall be composed of not fewer than
          two members of the Board who are not employed by the Company
          ("Nonemployee Directors"). No member of the Committee may exercise
          discretion with respect to, or participate in, the administration of
          the Plan if, at any time, during the twelve-month period prior to such
          exercise or participation, he or she has been granted or awarded
          stock, restricted stock, stock options, stock appreciation rights or
          any other derivative security of any Company or an affiliate thereof
          under this Plan or any similar plan of the Company except as permitted
          in Rule l6b-3(c)(2)(i)(A) through (D) under the Securities Exchange
          Act of 1934. In the event of a public offering, members of the
          Committee shall be subject to any additional restrictions necessary to
          satisfy the requirements for disinterested administration of the Plan
          as set forth in rule 16b-3, as it may be amended from time to time.
          The decisions of the Committee under the Plan shall be conclusive and
          binding. No member of the Board or the Committee shall be liable for
          any action taken, or determination made, hereunder in good faith.
          Service on the Committee shall constitute service as a director

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         of the Company so that members of the Committee shall be entitled to
         indemnification and reimbursement as directors of the Company pursuant
         to its bylaws.

     B.  POWERS. Within the express limits of Plan provisions, the Committee
         shall determine:

         1. The Participants to whom awards hereunder shall be granted;
         2. The time or times at which such awards shall be granted;
         3. The form and amount of the awards; and
         4. The limitations, restrictions and conditions applicable to any such
            award.

         In making such determinations, the Committee may take into account the
         nature of the services rendered by such Participants, or classes of
         Participants, their present and potential contributions to the
         Company's success and such other factors as the Committee, shall deem
         relevant. All awards are subject to the approval of the Board.

     C.  INTERPRETATIONS. Subject to the express provisions of the Plan, the
         Committee may interpret the Plan, prescribe, amend and rescind rules
         and regulations relating to it, determine the terms and provisions of
         the respective awards and make all other determinations it deems
         necessary or advisable for the administration of the Plan.

     D.  DETERMINATIONS. The determinations of the Committee, along with Board
         approval, on all matters regarding the Plan shall be conclusive and
         binding upon all parties.

     E.  NONUNIFORM DETERMINATIONS. The Committee's determinations under the
         Plan including, without limitation, determinations as to the persons
         to receive awards, the terms and provisions of such awards and the
         agreements evidencing the same, need not be uniform and may be made by
         it selectively among persons who receive or are eligible to receive
         awards under the Plan, whether or not such persons are similarly
         situated.

III. AWARDS UNDER THE PLAN.

     A.  FORM. Awards under the Plan shall be granted in the form of
         nonstatuatory stock options ("Stock Options"), as described in Section
         IV.D.

     B.  MAXIMUM LIMITATIONS. The aggregate number of shares of Common Stock
         which will be available for grant under the Plan is 465,000 subject to
         adjustment pursuant to Section III.C. The maximum number of shares
         which may be issuable to a single individual pursuant to Options under
         the Plan is 116,250. Shares of Common Stock issued pursuant to the
         Plan may be either authorized but unissued shares or shares held in
         the treasury of the Company. In the event that, prior to the end of
         the period during which Stock Options may be granted under the Plan,
         any Stock Option under the Plan expires unexercised or is terminated,
         surrendered or canceled without being exercised,

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          in whole or in part, for any reason, the number of shares subject to
          such Stock Option or the unexercised, terminated, forfeited or
          unearned portion thereof, shall be added to the remaining number of
          shares of Common Stock available for grant as a Stock Option under the
          Plan, including a grant to a former holder of such Stock Option, upon
          such terms and conditions as the Committee shall determine, which
          terms may be more or less favorable than those applicable to such
          former Stock Option.

     C.   ADJUSTMENT PROVISIONS. The aggregate number of shares of Common Stock
          with respect to which Stock Options shall be granted, the aggregate
          number of shares of Common Stock subject to each outstanding Stock
          Option and the exercise price per share of each such Stock Option may
          all be appropriately adjusted as the Board may determine for any
          increase or decrease in the number of shares of issued Common Stock
          resulting from a subdivision or consolidation of shares, whether
          through reorganization, recapitalization, stock split-up, stock
          distribution or combination of shares, or the payment of a share
          dividend or other increase or decrease in the number of such shares
          outstanding effected without receipt of consideration by the Company.
          Adjustments under this Section III.C. shall be made according to the
          sole discretion of the Board, and its decisions shall be binding and
          conclusive.

IV.  STOCK OPTIONS.

     Stock Options may be granted under the Plan for the purchase of Common
     Stock. Stock Options shall be in such form and upon such terms and
     conditions as the Committee shall from time to time determine, subject to
     the following:

     A.   EXERCISE. Stock Options shall be subject to such terms and conditions,
          shall be exercisable at such time or times, and shall be evidenced by
          such form of written option agreement ("Option Agreement") between the
          Participant and the Company, as the Committee shall determine;
          provided, that such determinations are not inconsistent with the other
          provisions of the Plan. Option Agreements need not be identical.

     B.   EXERCISE PRICE. The per share exercise price of each Stock Option
          shall be fixed by the Committee in the Option Agreement, but shall not
          be less than 100% of the fair market value, as defined in Section XI,
          of the Common Stock subject to such Stock Option on the date of grant.

     C.   DURATION OF OPTION. The period during which a Stock Option may be
          exercised shall be such period as the Committee establishes and
          includes in the Option Agreement, provided that such period shall not
          exceed ten (10) years from the date of grant, unless subsequently
          extended.

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     D.   EXERCISABILITY. Stock Options shall become exercisable for the number
          of shares Common Stock fixed by the Committee in the Stock Option
          Agreement, as specified by the terms below in accordance with the
          earliest of the following to occur:

          1.   In the event that the Company

               a.   Offers its shares to the public under a registration
                    statement made effective by the Securities Exchange
                    Commission ("Initial Public Offering" or "IPO"), or

               b.   Merges with a corporation whose shares are publicly traded
                    but does not experience a Change of Control (as defined in
                    Section IX)

          stock options awarded through the Plan will become exercisable
          according to the following schedule:

<TABLE>
<CAPTION>

--------------------------------------------------------------------------------
   TIME FRAME                                         % OF ALL AWARDED
                                                      OPTIONS TO VEST
--------------------------------------------------------------------------------
 <S>                                                  <C>
   12 months after effective date of IPO               25%
--------------------------------------------------------------------------------
   18 months after effective date of IPO               25%
--------------------------------------------------------------------------------
   24 months after effective date of IPO               25%
--------------------------------------------------------------------------------
   30 months after effective date of IPO               25%
--------------------------------------------------------------------------------
</TABLE>

          2.   In the event of a Change of Control (as defined in Section IX),
               all Options shall become immediately exercisable.

          3.   The Committee shall retain the right to trigger exercisability at
               any other time which it determines, in its sole discretion, to be
               appropriate.

     E.   TERMINATION OF OPTIONS. If one of the events described in IV.C.1, 2 or
          3 above do not occur by the end of the option period specified by the
          Committee in the Option Agreement, each Stock Option awarded under the
          Option Agreement shall expire and all rights to purchase Common Stock
          thereunder shall cease on the date specified in the Option Agreement.

     F.   TYPE OF STOCK OPTIONS. Stock Options awarded to Participants under the
          Plan shall be non-qualified Stock Options and are not intended to
          qualify as incentive stock options under Section 422A of the Internal
          Revenue Code (the "Code").

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     G.   CONDITIONS OF GRANT. The Committee, in its discretion, may, as a
          condition to the grant of a Stock Option, require a Participant who
          is the recipient of such Stock Option to enter into one or
          more of the following agreements with the Company on or prior to the
          date of grant of such Stock Option:

          1.   A covenant not to compete with the Company and its subsidiaries,
               which shall become effective on the date of termination of
               employment of the Participant with the Company and which shall
               contain such terms and conditions as shall be specified by the
               Committee; and

          2.   An agreement to execute a stock restriction agreement with the
               employer at the date of exercise that imposes certain
               restrictions upon the transferability of the option stock.

          If the Participant shall fail to enter into any such agreement at the
          request of the Committee, then no Stock Options shall be granted
          hereunder to such Participant (or, if granted, shall not be
          exercisable) and the number of shares of Common Stock that would have
          been subject to such Stock Option shall be added to the remaining
          number of shares available for grant as a Stock Option under the Plan.

     H.   Any Stock Option granted and vested under the Plan may be exercised by
          the Participant, by a legatee or legatees of such Stock Option under
          the Participant's last will, or by his or her executors, personal
          representatives or distributees.

          1.   The Option may be exercised, as specified in the Option
               Agreement, by:

               a.   Delivering to the Secretary of the Company written notice of
                    the number of shares of Common Stock with respect to which
                    the Stock Option is being exercised; or

               b.   Delivering such notice to a broker-dealer with a copy to the
                    Secretary of the Company.

          2.   Except as otherwise provided in the Plan or in any Option
               Agreement, and at the sole discretion of the Committee, the
               purchase price of Common Stock upon exercise of any Stock Option
               by a Participant shall be paid in full by one of the following
               methods:

               a.   In cash or certified check by the Participant;

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               b.   By a broker-dealer to whom the Participant has submitted an
                    exercise notice consisting of a fully endorsed Stock Option;

               c.   In Common Stock valued at its fair market value, as defined
                    in Section XI, on the date of exercise;

               d.   By agreeing to surrender Stock Options then exercisable by
                    him or her valued at the excess of the aggregate fair market
                    value of the Common Stock, as defined in Section XI, over
                    the aggregate option exercise price of such Common Stock;

               e.   By directing the Company to withhold such number of shares
                    of Common Stock otherwise issuable upon exercise of such
                    Stock Option having an aggregate fair market value on the
                    date of exercise equal to the exercise price of the Stock
                    Option; or

               f.   By such other medium of payment as the Committee, in its
                    discretion, shall authorize, or by any combination of a, b,
                    c, d, and e at the discretion of the Committee.

               In the case of payment pursuant to b, c, d, e or f above, the
               Participant's election must be made on or prior to the date of
               exercise of the Stock Option and must be irrevocable. In the
               event of an IPO or merger with a public corporation, a
               Participant who is an insider subject to Section 16 of the
               Securities Exchange Act of 1934 ("Section 16 Insider") and who
               elects payment pursuant to Section IV.F.2.e. above, the election
               must be made in writing either (a) within ten (10) business days
               beginning on the third business day following release of the
               Company's quarterly or annual summary of earnings and ending on
               the twelfth business day following such day or (b) at least six
               (6) months prior to the date of exercise of such Stock Option.
               The Company shall issue, in the name of the Participant, stock
               certificates representing the total number of shares of Common
               Stock issuable pursuant to the exercise of any Stock Option as
               soon as reasonably practicable after such exercise.

     I.   Whenever the Company is required to issue or transfer shares of Common
          Stock to a Participant under the Plan, the Company shall have the
          right to require the Participant to remit to the Company an amount
          sufficient to satisfy all federal, state and local withholding tax
          requirements prior to the delivery of any certificate or certificates
          for such shares. Whenever payments under the Plan are to be made to a
          Participant in cash, such payments shall be net of any amounts
          sufficient to satisfy all federal, state and local withholding tax
          requirements. In lieu of requiring a Participant to make a payment to
          the Company in an amount related to the withholding tax requirement,
          the Committee may, in its discretion, provide that at the
          Participant's election, the tax withholding obligation shall be
          satisfied by the Company's withholding a portion of the

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          shares otherwise distributable to the Participant, such shares being
          valued at their fair market value, as defined in Section XI, at the
          date of exercise, or by the shares previously delivered by the
          Company, such shares being valued at their fair market value, as
          defined in Section XI, as of the date of delivery of such shares by
          Participant to the Company. Notwithstanding any provision of the Plan
          to the contrary, (i) a Section 16 Insider's election pursuant to the
          preceding sentence must be made on or prior to the date as of which
          income is realized by the Section 16 Insider in connection with such
          benefit and must be irrevocable, and (ii) if the Section 16 Insider
          elects to have shares withheld from those otherwise issuable, then the
          election must be made in writing either (a) within the 10 business
          days beginning on the third business day following the release of the
          company's quarterly or annual summary of earnings and ending on the
          12th business day following such day, or (b) at least six months prior
          to the date the income is realized.

V.   TRANSFERABILITY.

     No Stock Option may be transferred, assigned, pledged or hypothecated
     (whether by operation of law or otherwise), except as provided by will or
     the applicable laws of descent or distribution, and no Stock Option shall
     be subject to execution, attachment or similar process. Any attempted
     assignment, transfer, pledge, hypothecation or other disposition of a Stock
     Option, or levy of attachment or similar process upon the Stock Option not
     specifically permitted herein shall be null and void and without effect. A
     Stock Option may be exercised only by a Participant during his or her
     lifetime, or pursuant to Section VIII. C., by his or her estate or the
     person who acquires the right to exercise such Stock Option upon his or her
     death by bequest or inheritance.

VI.  DISSOLUTION.

     Upon the dissolution or liquidation of the Company, each Stock Option
     granted hereunder shall expire as of the effective date of such
     transaction.

VII. EFFECTIVE DATE AND CONDITIONS SUBSEQUENT TO EFFECTIVE DATE.

     A.   The Plan shall become effective on the date of the approval of the
          Plan by the Board, and the Plan shall be null and void and of no
          effect if such condition is not fulfilled, and in such event each
          Stock Option granted hereunder shall, notwithstanding any of the
          preceding provisions of the Plan, be null and void and of no effect.
          In the event of an IPO, shareholder approval must be obtained one
          year, before or after the effective date of the offering, or the plan
          will be null and void and of no effect as of the date of the public
          offering.

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     B.   No grant or award shall be made under the Plan more than ten (10)
          years from the date of adoption of the Plan by the Board; provided,
          however, that the Plan and all Stock Options granted under the Plan
          prior to such date shall remain in effect and subject to adjustment
          and amendment as herein provided until they have been satisfied or
          terminated in accordance with the terms of the respective grants or
          awards and the related Option Agreements.

VIII.     TERMINATION OF EMPLOYMENT.

     Stock Options shall expire in accordance with Section IV.E. herein, or in
     the case of termination of employment, as described below:

     A.   OTHER THAN FOR CAUSE, DEATH, DISABILITY OR RETIREMENT. If the
          Participant's employment with the Company and all subsidiaries is
          terminated for any reason, other than cause, retirement, death or
          disability (as determined solely by the Board), and the Stock Option
          or a portion thereof is exercisable on the date of termination, the
          Stock Option shall expire on the earlier of 90 days after such
          termination of employment or the date the Stock Option expires in
          accordance with the related Option Agreement.

     B.   CAUSE. If the Participant is terminated for cause, as determined by
          the Board, all Stock Options shall expire on the first to occur of the
          expiration date set forth in the applicable Option Agreement, or date
          and time of termination of employment.

     C.   DEATH, DISABILITY OR RETIREMENT. If the Participant's employment with
          the Company and all Subsidiaries is terminated due to retirement,
          disability (as determined solely by the Board) or death, and the Stock
          Option or a portion thereof was exercisable on the date of employment
          termination, the Stock Option shall expire on the earlier of the first
          anniversary of such termination of employment or the date the Stock
          Option expires in accordance with this related Option Agreement.

     D.   TERMINATION BEFORE A PUBLIC OFFERING, MERGER, CHANGE OF CONTROL, OR
          COMMITTEE DETERMINED VESTING. Notwithstanding VIII.A., B., and C.,
          relating to termination of employment, a Stock Option expires on the
          date of termination of employment unless an IPO, merger with a public
          corporation, Change of Control, as defined in Section IX, or Committee
          determined vesting occurs prior to the date of employment termination.

  IX. CHANGE IN CONTROL.

         A Change of Control shall occur if any of the following take place:

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    A.   Any person (as such term is used in Section 13) of the Securities
         Exchange Act of 1934 and the rules and regulations thereunder and
         including any Affiliate or Associate of such person, as defined in Rule
         12b-2 under said Act, and any person acting in concert with such
         person), other than shareholders as of the date of adoption of the
         Plan, directly or indirectly acquires or otherwise becomes entitled to
         vote more than 50 percent of the voting power entitled to be cast at
         elections for directors ("Voting Power") of the Company; or

    B.   There occurs any merger or consolidation of the Company, or any sale,
         lease or exchange of all or any substantial part of the consolidated
         assets of the company and its subsidiaries to any other person and

         1.   In the case of a merger or consolidation, the holders of
              outstanding stock of the Company entitled to vote in elections of
              directors immediately before such merger or consolidation hold
              less than 50 percent of the Voting Power of the survivor of such
              merger or consolidation or its parent; or

         2.   In the case of any such sale, lease or exchange, the Company does
              not own at least 50.1 percent of the Voting Power of the other
              person.

X. POSTPONEMENT OF EXERCISE.

   The Committee may postpone any exercise of a Stock Option for such time as
   the Committee, in its sole discretion, may deem necessary in order to permit
   the Company to:

    A.   Effect, amend or maintain any necessary registration of the Plan or the
         shares of Common Stock issuable upon the exercise of a Stock Option
         under the Securities Act of 1933, as amended, or the securities laws of
         any applicable jurisdiction;

    B.   Permit any action to be taken in order to:

         1.   List such shares of Common Stock on a stock exchange if shares of
              Common Stock are then listed on such exchange; or

         2.   Comply with restrictions or regulations incident to the
              maintenance of a public market for its shares of Common Stock,
              including any rules or regulations of any stock exchange on which
              the shares of Common Stock are listed, or

    C.   Determine that such shares of Common Stock and the Plan are exempt from
         such registration or that no action of the kind referred to in B.2.
         above needs to be taken; and

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         the Company shall not be obligated by virtue of any terms and
         conditions of any Option Agreement or any provision of the Plan to
         recognize the exercise of a Stock Option or to sell or issue shares of
         Common Stock in violation of the Securities Act of 1933 or the law of
         any government having jurisdiction thereof. Any such postponement shall
         not extend the terms of a Stock Option and neither the Company nor its
         directors or officers shall have any obligation or liability to any
         Participant or any other person with respect to any shares of Common
         Stock as to which the Stock Option shall lapse because of such
         postponement.

XI. MISCELLANEOUS.

    A.   NO OBLIGATION TO EXERCISE OPTIONS. The granting of a Stock Option shall
         impose no obligation upon a Participant to exercise such Stock Option.

    B.   TERMINATION AND AMENDMENT OF PLAN. The Board, without further action on
         the part of the shareholders of the Company, may from time to time
         alter, amend or suspend the Plan or any Stock Option granted hereunder
         or may at any time terminate the Plan, except that, if an IPO has been
         made, or the Company has merged with a public corporation, it may not
         (except to the extent provided in Section III.C. hereof):

         1.   Materially increase the total number of shares of Common Stock
              available for grant to Section 16 Insiders under the Plan;

         2.   Materially increase benefits to Section 16 Insiders under the
              Plan, or

         3.   Materially change the class of Section 16 Insiders eligible to be
              granted Stock Options under the Plan.

         No action taken by the Board under this Section may materially and
         adversely affect any outstanding Stock Option without the consent of
         the holder thereof.

    C.   APPLICATION OF FUNDS. The proceeds received by the Company from the
         sale of Common Stock pursuant to Stock Options will be used for general
         corporate purposes.

    D.   RIGHT TO TERMINATE EMPLOYMENT. Nothing in the Plan or any agreement
         entered into pursuant to the Plan shall confer upon any Participant the
         right to continue in the employment of the Company or any Subsidiary or
         affect any right which the Company or any Subsidiary may have to
         terminate the employment of such Participant.

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    E.   RIGHTS AS A SHAREHOLDER. No Participant shall have any right or
         privilege as a shareholder unless and until certificates for shares of
         Common Stock are issuable to him or her.

    F.   LEAVES OF ABSENCE AND DISABILITY. The Committee shall be entitled to
         make such rules, regulations and determinations as it deems appropriate
         under the Plan in respect of any leave of absence taken by or
         disability of any Participant. Without limiting the generality of the
         foregoing, the Committee shall be entitled to determine:

         1.   Whether or not any such leave of absence shall constitute a
              termination of employment within the meaning of the Plan; and

         2.   The impact, if any, of any such leave of absence on awards under
              the Plan theretofore made to any Participant who takes such leave
              of absence.

    G.   FAIR MARKET VALUE. Whenever the fair market value of Common Stock is to
         be determined under the Plan as of a given date, such fair market value
         shall be:

         1. IF AN IPO HAS BEEN MADE OR IF THE COMPANY HAS MERGED WITH A PUBLIC
            CORPORATION.

              A.   If the Common Stock is principally traded on an exchange or
                   market in which prices are reported on a bid and asked basis,
                   the average of the mean between the bid and the asked price
                   for the Common Stock at the close of trading for the 10
                   consecutive trading days immediately preceding such given
                   date;

              B.   If the Common Stock is principally listed on a national
                   securities exchange, the average of the closing prices of the
                   Common Stock on the Composite Tape for the 10 consecutive
                   trading days immediately preceding such given date; or

              C.   If the Common Stock is neither traded on the over-the-counter
                   market nor listed on a national securities exchange, such
                   value as the Board, in good faith, shall determine.

         2.   IF NO IPO HAS BEEN MADE AND NO MERGER WITH A PUBLIC CORPORATION
              HAS OCCURRED. The value shall be determined as of the end of each
              fiscal year using a method which is consistent with the method
              used to value the Company during previous merger negotiations. The
              value determined as of the end of a fiscal year shall be the fair
              market value for all options granted during the following fiscal
              year.

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    H.  NOTICES.  Every direction, revocation or notice authorized or required
        by the Plan shall be deemed delivered to the Company

         1.   On the date it is personally delivered to the Secretary of the
              Company at its principal executive offices; or

         2.   Three business days after it is sent by registered or certified
              mail; postage prepaid, addressed to the Secretary at such offices.

         and to an Optionee:

         3.   On the date it is personally delivered to him or her; or

         4.   Three business days after it is sent by registered or certified
              mail, postage prepaid, addressed to him or her at the last address
              shown for him or her on the records of the Company.

    I.   APPLICABLE LAW. All questions pertaining to the validity, construction
         and administration of the plan and Stock Options granted hereunder
         shall be determined in conformity with the laws of the State of
         Michigan.

    J.   ELIMINATION OF FRACTIONAL SHARES. If under any provision of the Plan
         that requires a computation of the number of shares of Common Stock
         subject to a Stock Option, the number so computed is not a whole number
         of shares of Common Stock, such number of shares shall be rounded down
         to the next whole number.

    K.   STOCK RESTRICTION AGREEMENT. Notwithstanding anything to the contrary
         contained in the Plan, the Company shall be under no obligation to sell
         or deliver Common Stock under the Plan to an Optionee unless such
         Optionee shall execute a Stock Option Agreement substantially in the
         form of Exhibit A attached hereto, which contains provisions regarding
         the Optionee's competing with the Company and stock restrictions.

                                       12<PAGE>   1
                                                                   EXHIBIT 10.10

                               AMENDMENT NO. 1 TO
                     SATURN ELECTRONICS & ENGINEERING, INC.
                        1995 MANAGEMENT STOCK OPTION PLAN
                     --------------------------------------

         This Amendment No. 1 to Saturn Electronics & Engineering, Inc. 1995
Management Stock Option Plan (this "Amendment"), is made as of November 19,
1997, in order to amend certain provisions of the Saturn Electronics &
Engineering, Inc. 1995 Management Stock Option Plan (the "Option Plan").

         Item 1. Section II.B.1 of the Option Plan is amended to add the
following at the end thereof:

         "; provided, however, that Incentive Options (as defined in Section
IV.F) shall be granted only to employees (as defined in the Internal Revenue
Code of 1986, as amended, and the applicable rules and regulations thereunder
(the "Code")) of the Company or a corporate Subsidiary, unless Section 422 of
the Code, or any successor provision, then permits Incentive Options to be
granted to others;"

         Item 2. Section III.A of the Option Plan is amended to read in its
entirety as follows:

         "A. FORM. Subject to the terms of the Plan, the Committee, in its
discretion, may grant to Participants Incentive Options (as defined in Section
IV.F), Nonqualified Options (as defined in Section IV.F) or any combination
thereof. Each option (each "Stock Option") granted under the Plan shall
designate the number of shares covered thereby, if any, with respect to which
the option is an Incentive Option and the number of shares covered thereby, if
any, with respect to which the option is a Nonqualified Option."

         Item 3. Section IV.B of the Option Plan is amended to add the following
at the end thereof;

         "; provided that with respect to an Incentive Option granted to an
employee who at the time of the grant owns (after applying the attribution rules
of Section 424(d) of the Code) more than 10% of the total combined voting stock
of the Company or of any parent or Subsidiary, the option price shall not be
less than 110% of the fair market value of the stock subject to the Incentive
Option on the date such option is granted."

         Item 4. Section IV.C of the Option Plan is amended to add the following
at the end thereof;

         "; and provided further, that with respect to an Incentive Option
granted to a Participant who, at the time of the grant, owns (after applying the
attribution rules of Section 424(d) of the Code) more than 10% of the total
combined voting stock of all classes of stock of the Company or of any parent or
Subsidiary, such option shall expire not more than five (5) years after the date
of grant."

<PAGE>   2

         Item 5. Section IV.D of the Option Plan is amended to read in its
entirety as follows:

         "D. EXERCISABILITY. Stock Options shall become exercisable for the
number of shares of Common Stock fixed by the Committee in the Stock Option
Agreement. Unless provided otherwise in the Stock Option Agreement, Stock
Options shall become exercisable upon the earliest to occur of the following
(provided that the aggregate fair market value (determined as of the date the
option is granted) of the underlying stock with respect to which Incentive
Options are exercisable for the first time by such individual during any
calendar year (under all of such plans of the Company and its parent and
Subsidiary corporations) shall not exceed $100,000):

         1.   In the event that the Company

              a. Offers its shares to the public in accordance with a
         registration statement made effective by the Securities and Exchange
         Commission ("Initial Public Offering" or "IPO"), or

              b. Merges with a corporation whose shares are publicly traded but
         does not experience a Change of Control (as defined in Section IX)

         Stock Options awarded through the Plan will become exercisable
         according to the following schedule (unless provided otherwise in the
         Stock Option Agreement):

<TABLE>
<CAPTION>
                                                                            % OF ALL AWARDED
                         TIME FRAME                                         OPTIONS TO VEST
                         ----------                                         ---------------
<S>                                                                         <C>

12 months after effective date of IPO or merger with public company               25%
18 months after effective date of IPO or merger with public company               25%
24 months after effective date of IPO or merger with public company               25%
30 months after effective date of IPO or merger with public company               25%

</TABLE>

         2. In the event of a Change of Control, all Stock Options will become
         immediately exercisable.

         3. The Committee shall retain the right to trigger exercisability at
         any other time which it determines, in its sole discretion, to be
         appropriate."

         Item 6. The reference in Section IV.E of the Option Plan to "IV.C.1, 2
or 3" is hereby changed to "IV.D.1, 2 or 3. "

         Item 7. Section IV.F of the Option Plan is amended to read in its
entirety as follows:

         "F. TYPE OF STOCK OPTIONS. Stock Options granted under the Plan may be
"Incentive Options," (options to purchase Common Stock which meet the
requirements set forth in the Plan

                                       2
<PAGE>   3

and are also intended to be, and qualify as, incentive stock options within the
meaning of Section 422 of the Code) or "Nonqualified Options" (options to
purchase Common Stock which meet the requirements set forth in the Plan but are
not intended to be, or do not qualify as, incentive stock options within the
meaning of the Code); provided that no Incentive Option may be granted
under the Plan to any one Participant which would result in the aggregate fair
market value, determined as of the date the option is granted, of the underlying
stock with respect to which Incentive Options are exercisable for the first time
by such individual during any calendar year (under all of such plans of the
Company and its parent and Subsidiary corporations) exceeding $100,000."

         Item 8. Section VIII of the Option Plan is amended to read in its
entirety as follows:

         "VIII. TERMINATION OF EMPLOYMENT OR DIRECTORSHIP.

         Stock Options shall expire in accordance with Section IV.E herein, or
         in the case of termination of employment or directorship, as described
         below:

         A. OTHER THAN FOR CAUSE, DEATH, DISABILITY OR RETIREMENT. If the
         Participant's employment with the Company and all Subsidiaries or
         service as a director is terminated for any reason, or the Participant
         resigns as an officer or director of the Company, in either case other
         than for cause, retirement, death or disability (as determined solely
         by the Board), and the Stock Option or a portion thereof is exercisable
         on the date of termination, the Stock Option shall expire on the
         earlier of ninety (90) days after such termination of employment or
         directorship or the date the Stock Option expires in accordance with
         the related Option Agreement.

         B. CAUSE. If the Participant is terminated for cause, or if the
         Participant is removed as an officer or director of the Company, as
         determined by the Board, all Stock Options shall expire on the first to
         occur of the expiration date set forth in the applicable Option
         Agreement, or date and time of termination of employment or removal as
         a director or officer.

         C. DEATH, DISABILITY OR RETIREMENT. If the Participant's employment
         with the Company and all Subsidiaries is terminated, or the Participant
         is no longer an officer or director of the Company, in either case due
         to retirement, disability (as determined solely by the Board) or death,
         and the Stock Option or a portion thereof was exercisable on the date
         of employment termination or on the date the Participant ceases to be a
         director or officer of the Company, the Stock Option shall expire on
         the earlier of the first anniversary of such termination or the date
         the Stock Option expires in accordance with the related Option
         Agreement.

         D. TERMINATION BEFORE IPO, MERGER, CHANGE OF CONTROL, OR COMMITTEE
         DETERMINED VESTING. Notwithstanding the provisions of Section VIII.A.,
         B., and C.,

                                       3
<PAGE>   4

         relating to termination of employment or termination as a director or
         officer of the Company, a Stock Option shall expire on the date of
         termination unless an IPO, with a public company, Change of Control or
         Committee determined vesting occurs prior to the date of termination
         (unless the Committee extends the period during which the Stock Option
         may be exercised by establishing a later termination date)."

                                       4

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