Exhibit 4:
MEDITECH 2004 Stock Purchase Plan
The objective
of the Stock Purchase Plan is to provide the Company's staff with
an opportunity to purchase shares of the Company's stock and
thereby individually become shareholders or increase their share
holdings. Stock ownership is an important part of the Company's
employment and retention strategy. Furthermore, stock ownership
motivates the staff and more closely aligns the interest of the
staff with that of the shareholders. The Plan will be implemented
through an annual offering of shares of the Company's stock to the
staff.
Authorization:
At the beginning
of the year, the Board of Directors shall review the Stock Purchase
Plan and amend it if the Board believes it necessary or
appropriate. The Board shall then vote to set the total number of
shares to be offered to the Company's staff under the Plan for that
year. In setting the number of shares to be offered, the Board
shall take into account the objective of the Plan and the potential
dilution to existing shareholders.
Administration:
Except as
otherwise specified in the Plan, and subject to such conditions and
limitations as the Board may establish or as may be imposed by law,
the Plan shall be administered by a group of Plan Administrators
consisting of the Company's Chairman and Chief Executive Officer,
its President and Chief Operating Officer and its Treasurer and
Chief Financial Officer, acting together. Subject to any
interpretation or decision by the Board, the Plan Administrators'
interpretations and decisions regarding the Plan shall be final,
conclusive and binding on all staff members.
Staff
Eligibility: Except as provided below, all
the Company's staff members with at least 3 years of continuous
full or part time employment with the Company shall be eligible to
purchase shares in accordance with such rules as may be prescribed
by the Board or the Plan Administrators. In the event of a staff
member's retirement or termination of employment before the
purchase of any shares, the staff member shall no longer be
eligible to purchase shares under the Plan. Rights under the Plan
are not transferable by a staff member to anyone else.
Participation in the Plan shall not constitute a promise of
continued employment to any staff member.
Offering
Period: The Plan Administrators shall
specify the beginning date and duration of the annual Offering
Period for the sale and purchase of the Company's stock. The
Offering Period usually will begin promptly after the Company has
filed with the SEC its annual report on Form 10-K for the preceding
year, including its audited financial statements. The Offering
Period ordinarily will not extend beyond the first
quarter.
Share
Price: Unless otherwise determined by
the Board, the per share price for such shares in
