First Amendment to Global Marine 1998 Stock Option and Incentive Plan

Summary

This amendment updates the Global Marine 1998 Stock Option and Incentive Plan by increasing the number of shares available under the plan from 7,500,000 to 15,000,000, effective upon approval by Global Marine Inc.'s stockholders at the 2000 Annual Meeting. All other terms of the original plan remain unchanged.

EX-10.2 8 0008.txt FIRST AMDMT TO GM 1998 STOCK OPTION & INCENTIV PLN EXHIBIT 10.2 GLOBAL MARINE 1998 STOCK OPTION AND INCENTIVE PLAN First Amendment ____________________________ The Global Marine 1998 Stock Option and Incentive Plan (the "Plan") is hereby amended as follows, effective upon approval of this Amendment by the stockholders of Global Marine Inc. at said company's 2000 Annual Meeting of Stockholders or any adjournment thereof: 1. Clause I in the first sentence of paragraph 6.2(a)(i) of the Plan, which currently reads "(I) 7,500,000 shares of stock;" is hereby amended in its entirety to read as follows: "(I) 15,000,000 shares of stock;". 2. Terms used in this Amendment and not defined herein are used herein as they are defined in the Plan. References in the Plan to "this Plan" (and indirect references such as "hereof" and "herein") are amended to refer to the Plan as amended by this Amendment. 3. Except as expressly amended hereby, the Plan shall remain in full force and effect.