THE BLACK & DECKER 1989 STOCK OPTION PLAN
The proper execution of the duties and responsibilities of the executive and other key employees of The Black &
Decker Corporation and its subsidiaries is a vital factor in the continued growth and success of the Corporation.
Toward this end, it is necessary to attract and retain effective and capable employees to assume positions that
contribute materially to the successful operation of the business of the Corporation. It will benefit the
Corporation, therefore, to bind the interests of these persons more closely to its own interests by offering them an
attractive opportunity to acquire a proprietary interest in the Corporation and thereby provide them with added
incentive to remain in its employ and to increase the prosperity, growth, and earnings of the Corporation. This
stock option plan will serve these purposes.
The following terms wherever used herein shall have the meanings set forth below.
1:01 The term "Board of Directors" shall mean the Board of
Directors of the Corporation.
1:02 The term "Cash Appreciation Right" shall mean a right to
receive cash pursuant to Article 10:00 of the Plan.
1:03 The term "Code" shall mean the Internal Revenue Code of 1986,
as amended, and any regulations promulgated thereunder.
1:04 The term "Committee" shall mean a committee to be appointed by
the Board of Directors to consist of two or more of those
members of the Board of Directors who are Non-Employee
Directors within the meaning of Rule 16b-3 promulgated under
the Exchange Act and are outside directors within the meaning
of the Section 162(m) Regulations, as each may be amended from
time to time.
1:05 The term "Common Stock" shall mean the shares of comm