<PAGE>   1

                                                                    EXHIBIT 4.02


                FORM OF STOCK OPTION AGREEMENT FOR eHNC EMPLOYEES

                                                                  NO. __________

                                    eHNC INC.

                           1999 EQUITY INCENTIVE PLAN

                             STOCK OPTION AGREEMENT


        This Stock Option Agreement (the "AGREEMENT") is made and entered into
as of the date of grant set forth below (the "DATE OF GRANT") by and between
eHNC Inc., a Delaware corporation (the "COMPANY"), and the participant named
below (the "PARTICIPANT"). Capitalized terms not defined herein shall have the
meaning ascribed to them in the Company's 1999 Equity Incentive Plan (the
"PLAN").

PARTICIPANT:                ___________________________________________

SOCIAL SECURITY NUMBER:     ___________________________________________

ADDRESS:                    ___________________________________________

                            ___________________________________________

TOTAL OPTION SHARES:        ___________________________________________

EXERCISE PRICE PER SHARE:   ___________________________________________

DATE OF GRANT:              ___________________________________________

FIRST VESTING DATE:         ___________________________________________

EXPIRATION DATE:            ___________________________________________
                            (unless earlier terminated under Section 5.6
                            of the Plan)
TYPE OF STOCK OPTION

(CHECK ONE):               [ ] INCENTIVE STOCK OPTION

                           [ ] NONQUALIFIED STOCK OPTION

        1.     GRANT OF OPTION. The Company hereby grants to Participant an
option (this "OPTION") to purchase up to the total number of shares of Common
Stock, $0.00001 par value, of the Company set forth above as Total Option Shares
(the "SHARES") at the Exercise Price Per Share set forth above (the "EXERCISE
PRICE"), subject to all of the terms and conditions of this Agreement and the
Plan. If designated as an Incentive Stock Option above, the Option is intended
to qualify as an "incentive stock option" (the "ISO") within the meaning of
Section 422 of the Internal Revenue Code of 1986, as amended (the "CODE").


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        2.     EXERCISE PERIOD.

               2.1    Exercise Period of Option. Provided Participant continues
to provide services to the Company, the Option will become vested and
exercisable as to portions of the Shares as follows: (i) this Option shall not
vest nor be exercisable with respect to any of the Shares until the First
Vesting Date set forth on the first page of this Agreement (the "FIRST VESTING
DATE"); (ii) on the First Vesting Date the Option will become vested and
exercisable as to twelve and one-half percent (12.5 %) of the Shares; and (iii)
thereafter at the end of each full succeeding month after the First Vesting
Date, the Option will become vested and exercisable as to an additional 2.08333%
of the Shares until the Shares are vested with respect to one hundred percent
(100%) of the Shares. If application of the vesting percentage causes a
fractional share, such share shall be rounded down to the nearest whole share
for each month except for the last month in such vesting period, at the end of
which last month this Option shall become exercisable for the full remainder of
the Shares.

               2.2    Vesting of Options. Shares that are vested pursuant to the
schedule set forth in Section 2.1 are "VESTED SHARES." Shares that are not
vested pursuant to the schedule set forth in Section 2.1 are "UNVESTED SHARES."

               2.3    Expiration. The Option shall expire on the Expiration Date
set forth above or earlier as provided in Section 3 below or pursuant to the
Plan.

        3.     TERMINATION.

               3.1    Termination for Any Reason Except Death, Disability or
Cause. If Participant is Terminated for any reason, except death, Disability or
for Cause, the Option, to the extent (and only to the extent) that it would have
been exercisable by Participant on the Termination Date, may be exercised by
Participant no later than three (3) months after the Termination Date, but in
any event no later than the Expiration Date.

               3.2    Termination Because of Death or Disability. If Participant
is Terminated because of death or Disability of Participant (or Participant dies
within three (3) months of Termination when Termination is for any reason other
than Participant's Disability or for Cause), the Option, to the extent that it
is exercisable by Participant on the Termination Date, may be exercised by
Participant (or Participant's legal representative) no later than twelve (12)
months after the Termination Date, but in any event no later than the Expiration
Date. Any exercise beyond (i) three (3) months after the Termination Date when
the Termination is for any reason other than the Participant's death or
disability, within the meaning of Section 22(e)(3) of the Code; or (ii) twelve
(12) months after the Termination Date when the termination is for Participant's
disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be
an NQSO.

               3.3    Termination for Cause. If Participant is Terminated for
Cause, then the Option will expire on Participant's Termination Date, or at such
later time and on such conditions as are determined by the Committee.

               3.4    No Obligation to Employ. Nothing in the Plan or this
Agreement shall confer on Participant any right to continue in the employ of, or
other relationship with, the


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Company or any Parent, Subsidiary or Affiliate of the Company, or limit in any
way the right of the Company or any Parent, Subsidiary or Affiliate of the
Company to terminate Participant's employment or other relationship at any time,
with or without Cause.

        4.     MANNER OF EXERCISE.

               4.1    Stock Option Exercise Agreement. To exercise this Option,
Participant (or in the case of exercise after Participant's death or incapacity,
Participant's executor, administrator, heir or legatee, as the case may be) must
deliver to the Company an executed stock option exercise agreement in the form
attached hereto as Exhibit A, or in such other form as may be approved by the
Committee from time to time (the "EXERCISE AGREEMENT"), which shall set forth,
inter alia, (i) Participant's election to exercise the Option, (ii) the number
of Shares being purchased, (iii) any restrictions imposed on the Shares and (iv)
any representations, warranties and agreements regarding Participant's
investment intent and access to information as may be required by the Company to
comply with applicable securities laws. If someone other than Participant
exercises the Option, then such person must submit documentation reasonably
acceptable to the Company verifying that such person has the legal right to
exercise the Option.

               4.2    Limitations on Exercise. The Option may not be exercised
unless such exercise is in compliance with all applicable federal and state
securities laws, as they are in effect on the date of exercise. The Option may
not be exercised as to fewer than one hundred (100) Shares unless it is
exercised as to all Shares as to which the Option is then exercisable.

               4.3    Payment. The Exercise Agreement shall be accompanied by
full payment of the Exercise Price for the shares being purchased in cash (by
check), or where permitted by law:

        (a)    by cancellation of indebtedness of the Company to the
               Participant;

        (b)    provided that a public market for the Company's stock exists: (i)
               through a "same day sale" commitment from Participant and a
               broker-dealer that is a member of the National Association of
               Securities Dealers (an "NASD Dealer") whereby Participant
               irrevocably elects to exercise the Option and to sell a portion
               of the Shares so purchased sufficient to pay for the total
               Exercise Price and whereby the NASD Dealer irrevocably commits
               upon receipt of such Shares to forward the total Exercise Price
               directly to the Company, or (ii) through a "margin" commitment
               from Participant and an NASD Dealer whereby Participant
               irrevocably elects to exercise the Option and to pledge the
               Shares so purchased to the NASD Dealer in a margin account as
               security for a loan from the NASD Dealer in the amount of the
               total Exercise Price, and whereby the NASD Dealer irrevocably
               commits upon receipt of such Shares to forward the total Exercise
               Price directly to the Company; or

        (c)    by any combination of the foregoing.

               4.4    Tax Withholding. Prior to the issuance of the Shares upon
exercise of the Option, Participant must pay or provide for any applicable
federal, state and local


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withholding obligations of the Company. If the Committee permits, Participant
may provide for payment of withholding taxes upon exercise of the Option by
requesting that the Company retain the minimum number of Shares with a Fair
Market Value equal to the minimum amount of taxes required to be withheld; but
in no event will the Company withhold Shares if such withholding would result in
adverse accounting consequences to the Company. In such case, the Company shall
issue the net number of Shares to the Participant by deducting the Shares
retained from the Shares issuable upon exercise.

               4.5    Issuance of Shares. Provided that the Exercise Agreement
and payment are in form and substance satisfactory to counsel for the Company,
the Company shall issue the Shares registered in the name of Participant,
Participant's authorized assignee, or Participant's legal representative, and
shall deliver certificates representing the Shares with the appropriate legends
affixed thereto.

        5.     NOTICE OF DISQUALIFYING DISPOSITION OF ISO SHARES. If the Option
is an ISO, and if Participant sells or otherwise disposes of any of the Shares
acquired pursuant to the ISO on or before the later of (i) the date two (2)
years after the Date of Grant, and (ii) the date one (1) year after transfer of
such Shares to Participant upon exercise of the Option, Participant shall
immediately notify the Company in writing of such disposition. Participant
agrees that Participant may be subject to income tax withholding by the Company
on the compensation income recognized by Participant from the early disposition
by payment in cash or out of the current wages or other compensation payable to
Participant.

        6.     COMPLIANCE WITH LAWS AND REGULATIONS. The Plan and this Agreement
are intended to comply with Section 25102(o) of the California Corporations Code
and any regulations relating thereto. Any provision of this Agreement which is
inconsistent with Section 25102(o) or any regulations relating thereto shall,
without further act or amendment by the Company or the Board, be reformed to
comply with the requirements of Section 25102(o) and any regulations relating
thereto. The exercise of the Option and the issuance and transfer of Shares
shall be subject to compliance by the Company and Participant with all
applicable requirements of federal and state securities laws and with all
applicable requirements of any stock exchange on which the Company's Common
Stock may be listed at the time of such issuance or transfer. Participant
understands that the Company is under no obligation to register or qualify the
Shares with the SEC, any state securities commission or any stock exchange to
effect such compliance.

        7.     NONTRANSFERABILITY OF OPTION. The Option may not be transferred
in any manner other than by will or by the laws of descent and distribution and
may be exercised during the lifetime of Participant only by Participant or in
the event of Participant's incapacity, by Participant's legal representative.
The terms of the Option shall be binding upon the executors, administrators,
successors and assigns of Participant.

        8.     COMPANY'S RIGHT OF FIRST REFUSAL. Before any Vested Shares held
by Participant or any transferee of such Vested Shares may be sold or otherwise
transferred (including without limitation a transfer by gift or operation of
law), the Company and/or its assignee(s) shall have an assignable right of first
refusal to purchase the Vested Shares to be sold or transferred on the terms and
conditions set forth in the Exercise Agreement (the "RIGHT OF FIRST REFUSAL").
The Company's Right of First Refusal will terminate when the Company's
securities become publicly traded.



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        9.     TAX CONSEQUENCES. Set forth below is a brief summary as of the
Effective Date of the Plan of some of the federal and California tax
consequences of exercise of the Option and disposition of the Shares. THIS
SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT
TO CHANGE. PARTICIPANT SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THE OPTION
OR DISPOSING OF THE SHARES.

               9.1    Exercise of ISO. If the Option qualifies as an ISO, there
will be no regular federal or California income tax liability upon the exercise
of the Option, although the excess, if any, of the Fair Market Value of the
Shares on the date of exercise over the Exercise Price will be treated as a tax
preference item for federal alternative minimum tax purposes and may subject the
Participant to the alternative minimum tax in the year of exercise.

               9.2    Exercise of Nonqualified Stock Option. If the Option does
not qualify as an ISO, there may be a regular federal and California income tax
liability upon the exercise of the Option. Participant will be treated as having
received compensation income (taxable at ordinary income tax rates) equal to the
excess, if any, of the Fair Market Value of the Shares on the date of exercise
over the Exercise Price. The Company may be required to withhold from
Participant's compensation or collect from Participant and pay to the applicable
taxing authorities an amount equal to a percentage of this compensation income
at the time of exercise.

               9.3    Disposition of Shares. The following tax consequences may
apply upon disposition of the Shares.

                      (a)    Incentive Stock Options. If the Shares are held for
more than twelve (12) months after the date of the transfer of the Shares
pursuant to the exercise of an ISO and are disposed of more than two (2) years
after the Date of Grant, any gain realized on disposition of the Shares will be
treated as long term capital gain for federal and California income tax
purposes. If Shares purchased under an ISO are disposed of within the applicable
one (1) year or two (2) year period, any gain realized on such disposition will
be treated as compensation income (taxable at ordinary income rates) to the
extent of the excess, if any, of the Fair Market Value of the Shares on the date
of exercise over the Exercise Price.

                      (b)    Nonqualified Stock Options. If the Shares are held
for more than twelve (12) months after the date of the transfer of the Shares
pursuant to the exercise of an NQSO, any gain realized on disposition of the
Shares will be treated as long term capital gain.

                      (c)    Withholding. The Company may be required to
withhold from the Participant's compensation or collect from the Participant and
pay to the applicable taxing authorities an amount equal to a percentage of this
compensation income.

        10.    PRIVILEGES OF STOCK OWNERSHIP. Participant shall not have any of
the rights of a stockholder with respect to any Shares until the Shares are
issued to Participant.

        11.    INTERPRETATION. Any dispute regarding the interpretation of this
Agreement shall be submitted by Participant or the Company to the Committee for
review. The


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resolution of such a dispute by the Committee shall be final and binding on the
Company and Participant.

        12.    ENTIRE AGREEMENT. The Plan is incorporated herein by reference.
This Agreement and the Plan constitute the entire agreement of the parties and
supersede all prior undertakings and agreements with respect to the subject
matter hereof.

        13.    NOTICES. Any notice required to be given or delivered to the
Company under the terms of this Agreement shall be in writing and addressed to
the Corporate Secretary of the Company at its principal corporate offices. Any
notice required to be given or delivered to Participant shall be in writing and
addressed to Participant at the address indicated above or to such other address
as such party may designate in writing from time to time to the Company. All
notices shall be deemed to have been given or delivered upon: (i) personal
delivery; (ii) three (3) days after deposit in the United States mail by
certified or registered mail (return receipt requested); (iii) one (1) business
day after deposit with any return receipt express courier (prepaid); or (iv) one
(1) business day after transmission by facsimile, rapifax or telecopier.

        14.    SUCCESSORS AND ASSIGNS. The Company may assign any of its rights
under this Agreement including its rights to purchase Shares under the Right of
First Refusal. This Agreement shall be binding upon and inure to the benefit of
the successors and assigns of the Company. Subject to the restrictions on
transfer set forth herein, this Agreement shall be binding upon Participant and
Participant's heirs, executors, administrators, legal representatives,
successors and assigns.

        15.    GOVERNING LAW. This Agreement shall be governed by and construed
in accordance with the laws of the State of California as such laws are applied
to agreements between California residents entered into and to be performed
entirely within California. If any provision of this Agreement is determined by
a court of law to be illegal or unenforceable, then such provision will be
enforced to the maximum extent possible and the other provisions will remain
fully effective and enforceable.

        16.    ACCEPTANCE. Participant hereby acknowledges receipt of a copy of
the Plan and this Agreement. Participant has read and understands the terms and
provisions thereof, and accepts the Option subject to all the terms and
conditions of the Plan and this Agreement. Participant acknowledges that there
may be adverse tax consequences upon exercise of the Option or disposition of
the Shares and that Participant should consult a tax adviser prior to such
exercise or disposition.


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        IN WITNESS WHEREOF, the Company has caused this Agreement to be executed
in triplicate by its duly authorized representative and Participant has executed
this Agreement in triplicate, effective as of the Date of Grant.


eHNC INC.                               PARTICIPANT

By: _____________________________       _____________________________________
                                        (Signature)

_________________________________       _____________________________________
(Please print name)                     (Please print name)

_________________________________
(Please print title)








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                                    EXHIBIT A


                     FORM OF STOCK OPTION EXERCISE AGREEMENT
                            FOR eHNC EMPLOYEES UNDER
                           1999 EQUITY INCENTIVE PLAN










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                                                              FOR eHNC EMPLOYEES

                                                                  NO. __________


                                    eHNC INC.

                           1999 EQUITY INCENTIVE PLAN

                         STOCK OPTION EXERCISE AGREEMENT


        This Stock Option Exercise Agreement (the "EXERCISE AGREEMENT") is made
and entered into as of _________________________, 200_ (the "EFFECTIVE DATE") by
and between eHNC Inc., a Delaware corporation (the "COMPANY"), and the purchaser
named below (the "PURCHASER"). Capitalized terms not defined herein shall have
the meanings ascribed to them in the Company's 1999 Equity Incentive Plan (the
"PLAN").

PURCHASER:                 _____________________________________________

                           _____________________________________________

SOCIAL SECURITY NUMBER:    _____________________________________________

ADDRESS:                   _____________________________________________

                           _____________________________________________

TOTAL NUMBER OF SHARES:    _____________________________________________

EXERCISE PRICE PER SHARE:  _____________________________________________

DATE OF GRANT:             _____________________________________________

FIRST VESTING DATE:        _____________________________________________

EXPIRATION DATE:           _____________________________________________
                           (Unless earlier terminated under Section 5.6
                           of the Plan)

TYPE OF STOCK OPTION
(CHECK ONE):               [ ] INCENTIVE STOCK OPTION

                           [ ] NONQUALIFIED STOCK OPTION

        1.     EXERCISE OF OPTION.

               1.1    Exercise. Pursuant to exercise of that certain option (the
"OPTION") granted to Purchaser under the Plan and subject to the terms and
conditions of this Exercise Agreement, Purchaser hereby purchases from the
Company, and the Company hereby sells to Purchaser, the Total Number of Shares
set forth above (the "SHARES") of the Company's Common Stock, $0.00001 par value
per share, at the Exercise Price Per Share set forth above (the "EXERCISE
PRICE"). As used in this Exercise Agreement, the term "SHARES" refers to the
Shares purchased under this Exercise Agreement and includes all securities
received (i) in


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replacement of the Shares, (ii) as a result of stock dividends or stock splits
with respect to the Shares, and (iii) all securities received in replacement of
the Shares in a merger, recapitalization, reorganization or similar corporate
transaction.

               1.2    Title to Shares. The exact spelling of the name(s) under
which Purchaser will take title to the Shares is:

                      __________________________________________________________

                      __________________________________________________________

               Purchaser desires to take title to the Shares as follows:

                      [ ]  Individual, as separate property

                      [ ]  Husband and wife, as community property

                      [ ]  Joint Tenants

               1.3    Payment. Purchaser hereby delivers payment of the Exercise
Price in the manner permitted in the Stock Option Agreement as follows (check
and complete as appropriate):

                      [ ]  in cash (by check) in the amount of $____________,
                           receipt of which is acknowledged by the Company; or


                      [ ]  by cancellation of indebtedness of the Company owed
                           to Purchaser in the amount of $_______________.

        2.     DELIVERY.

               2.1    Deliveries by Purchaser. Purchaser hereby delivers to the
Company (i) this Exercise Agreement, (ii) two (2) copies of a blank Stock Power
and Assignment Separate from Stock Certificate in the form of Exhibit 1 attached
hereto (the "STOCK POWERS"), both executed by Purchaser (and Purchaser's spouse,
if any), (iii) if Purchaser is married, a Consent of Spouse in the form of
Exhibit 2 attached hereto (the "SPOUSE CONSENT") executed by Purchaser's spouse,
and (iv) the Exercise Price as provided in Section 1.3 and payment or other
provision for any applicable tax obligations in the form of _______________,
[ADD DESCRIPTION OF METHOD OF PAYMENT (USUALLY A "CHECK")] a copy of which is
attached hereto as Exhibit 3.

               2.2    Deliveries by the Company. Upon its receipt of the
Exercise Price, payment or other provision for any applicable tax obligations
and all the documents to be executed and delivered by Purchaser to the Company
under Section 2.1, the Company will issue a duly executed stock certificate
evidencing the Shares in the name of Purchaser to be placed in escrow as
provided in Section 10 until expiration or termination of the Company's Right of
First Refusal described in Section 8.

        3.     REPRESENTATIONS AND WARRANTIES OF PURCHASER. Purchaser represents
and warrants to the Company that:



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               3.1    Agrees to Terms of the Plan. Purchaser has received a copy
of the Plan and the Stock Option Agreement, has read and understands the terms
of the Plan, the Stock Option Agreement and this Exercise Agreement, and agrees
to be bound by their terms and conditions. Purchaser acknowledges that there may
be adverse tax consequences upon exercise of the Option or disposition of the
Shares, and that Purchaser should consult a tax adviser prior to such exercise
or disposition.

               3.2    Purchase for Own Account for Investment. Purchaser is
purchasing the Shares for Purchaser's own account for investment purposes only
and not with a view to, or for sale in connection with, a distribution of the
Shares within the meaning of the Securities Act. Purchaser has no present
intention of selling or otherwise disposing of all or any portion of the Shares
and no one other than Purchaser has any beneficial ownership of any of the
Shares.

               3.3    Access to Information. Purchaser has had access to all
information regarding the Company and its present and prospective business,
assets, liabilities and financial condition that Purchaser reasonably considers
important in making the decision to purchase the Shares, and Purchaser has had
ample opportunity to ask questions of the Company's representatives concerning
such matters and this investment.

               3.4    Understanding of Risks. Purchaser is fully aware of: (i)
the highly speculative nature of the investment in the Shares; (ii) the
financial hazards involved; (iii) the lack of liquidity of the Shares and the
restrictions on transferability of the Shares (e.g., that Purchaser may not be
able to sell or dispose of the Shares or use them as collateral for loans); (iv)
the qualifications and backgrounds of the management of the Company; and (v) the
tax consequences of investment in the Shares. Purchaser is capable of evaluating
the merits and risks of this investment, has the ability to protect Purchaser's
own interests in this transaction and is financially capable of bearing a total
loss of this investment.

               3.5    No General Solicitation. At no time was Purchaser
presented with or solicited by any publicly issued or circulated newspaper,
mail, radio, television or other form of general advertising or solicitation in
connection with the offer, sale and purchase of the Shares.

               3.6    Financial Statements. Purchaser has received or otherwise
had access to financial statements of the Company annually during the period
that the Option was outstanding.

        4.     COMPLIANCE WITH SECURITIES LAWS.

               4.1    Compliance with U.S. Federal Securities Laws. Purchaser
understands and acknowledges that the Shares have not been registered with the
SEC under the Securities Act and that, notwithstanding any other provision of
the Stock Option Agreement to the contrary, the exercise of any rights to
purchase any Shares is expressly conditioned upon compliance with the Securities
Act and all applicable state securities laws. Purchaser agrees to cooperate with
the Company to ensure compliance with such laws. The Shares are being issued
under the Securities Act pursuant to the exemption provided by SEC Rule 701.

               4.2    Compliance with California Securities Laws. THE PLAN, THE
STOCK OPTION AGREEMENT, AND THIS EXERCISE AGREEMENT ARE INTENDED TO COMPLY WITH
SECTION 25102(O) OF THE CALIFORNIA CORPORATIONS CODE AND ANY RULES (INCLUDING
COMMISSIONER RULES, IF APPLICABLE) OR



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REGULATIONS PROMULGATED THEREUNDER BY THE CALIFORNIA DEPARTMENT OF CORPORATIONS
(THE "REGULATIONS"). ANY PROVISION OF THIS EXERCISE AGREEMENT WHICH IS
INCONSISTENT WITH SECTION 25102(O) SHALL, WITHOUT FURTHER ACT OR AMENDMENT BY
THE COMPANY OR THE BOARD, BE REFORMED TO COMPLY WITH THE REQUIREMENTS OF SECTION
25102(O). THE SALE OF THE SECURITIES THAT ARE THE SUBJECT OF THIS EXERCISE
AGREEMENT, IF NOT YET QUALIFIED WITH THE CALIFORNIA COMMISSIONER OF CORPORATIONS
AND NOT EXEMPT FROM SUCH QUALIFICATION, IS SUBJECT TO SUCH QUALIFICATION, AND
THE ISSUANCE OF SUCH SECURITIES, AND THE RECEIPT OF ANY PART OF THE
CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION IS UNLAWFUL UNLESS THE SALE
IS EXEMPT. THE RIGHTS OF THE PARTIES TO THIS EXERCISE AGREEMENT ARE EXPRESSLY
CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED OR AN EXEMPTION BEING
AVAILABLE.

        5.     RESTRICTED SECURITIES.

               5.1    No Transfer Unless Registered or Exempt. Purchaser
understands that Purchaser may not transfer any Shares unless such Shares are
registered under the Securities Act or qualified under applicable state
securities laws or unless, in the opinion of counsel to the Company, exemptions
from such registration and qualification requirements are available. Purchaser
understands that only the Company may file a registration statement with the SEC
and that the Company is under no obligation to do so with respect to the Shares.
Purchaser has also been advised that exemptions from registration and
qualification may not be available or may not permit Purchaser to transfer all
or any of the Shares in the amounts or at the times proposed by Purchaser.

               5.2    SEC Rule 144. In addition, Purchaser has been advised that
SEC Rule 144 promulgated under the Securities Act, which permits certain limited
sales of unregistered securities, is not presently available with respect to the
Shares and, in any event, requires that the Shares be held for a minimum of one
(1) year, and in certain cases two (2) years, after they have been purchased and
paid for (within the meaning of Rule 144). Purchaser understands that Rule 144
may indefinitely restrict transfer of the Shares so long as Purchaser remains an
"affiliate" of the Company or if "current public information" about the Company
(as defined in Rule 144) is not publicly available.

               5.3    SEC Rule 701. The Shares are issued pursuant to SEC Rule
701 promulgated under the Securities Act and may become freely tradeable by
non-affiliates (under limited conditions regarding the method of sale) of the
Company ninety (90) days after the first sale of Common Stock of the Company to
the general public pursuant to a registration statement filed with and declared
effective by the SEC, subject to the lengthier market standoff agreement
contained in Section 7 of this Exercise Agreement or any other agreement entered
into by Purchaser. Affiliates must comply with the provisions (other than the
holding period requirements) of Rule 144.


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        6.     RESTRICTIONS ON TRANSFERS.

               6.1    Disposition of Shares. Purchaser hereby agrees that
Purchaser shall make no disposition of the Shares (other than as permitted by
this Exercise Agreement) unless and until:

                      (a)    Purchaser shall have notified the Company of the
proposed disposition and provided a written summary of the terms and conditions
of the proposed disposition;

                      (b)    Purchaser shall have complied with all requirements
of this Exercise Agreement applicable to the disposition of the Shares;

                      (c)    Purchaser shall have provided the Company with
written assurances, in form and substance satisfactory to counsel for the
Company, that (i) the proposed disposition does not require registration of the
Shares under the Securities Act or (ii) all appropriate actions necessary for
compliance with the registration requirements of the Securities Act or of any
exemption from registration available under the Securities Act (including Rule
144) have been taken; and

                      (d)    Purchaser shall have provided the Company with
written assurances, in form and substance satisfactory to the Company, that the
proposed disposition will not result in the contravention of any transfer
restrictions applicable to the Shares pursuant to the provisions of the
Regulations referred to in Section 4.2 hereof.

               6.2    Restriction on Transfer. Purchaser shall not transfer,
assign, grant a lien or security interest in, pledge, hypothecate, encumber or
otherwise dispose of any of the Shares which are subject to the Company's Right
of First Refusal described below, except as permitted by this Exercise
Agreement.

               6.3    Transferee Obligations. Each person (other than the
Company) to whom the Shares are transferred by means of one of the permitted
transfers specified in this Exercise Agreement must, as a condition precedent to
the validity of such transfer, acknowledge in writing to the Company that such
person is bound by the provisions of this Exercise Agreement and that the
transferred Shares are subject to (i) the Company's Right of First Refusal
granted hereunder and (ii) the market stand-off provisions of Section 7 hereof,
to the same extent such Shares would be so subject if retained by the Purchaser.

        7.     MARKET STANDOFF AGREEMENT. Purchaser agrees in connection with
any registration of the Company's securities that, upon the request of the
Company or the underwriters managing any public offering of the Company's
securities, Purchaser will not sell or otherwise dispose of any Shares without
the prior written consent of the Company or such underwriters, as the case may
be, for such period of time (not to exceed one hundred eighty (180) days) after
the effective date of such registration requested by such managing underwriters
and subject to all restrictions as the Company or the underwriters may specify.
Purchaser further agrees to enter into any agreement reasonably required by the
underwriters to implement the foregoing.



                                       13
<PAGE>   14

        8.     COMPANY'S RIGHT OF FIRST REFUSAL. Before any Vested Shares held
by Purchaser or any transferee of such Vested Shares (either sometimes referred
to herein as the "Holder") may be sold or otherwise transferred (including,
without limitation, a transfer by gift or operation of law), the Company and/or
its assignee(s) will have a right of first refusal to purchase the Vested Shares
to be sold or transferred (the "OFFERED SHARES") on the terms and conditions set
forth in this Section (the "RIGHT OF FIRST REFUSAL").

               8.1    Notice of Proposed Transfer. The Holder of the Offered
Shares will deliver to the Company a written notice (the "NOTICE") stating: (i)
the Holder's bona fide intention to sell or otherwise transfer the Offered
Shares; (ii) the name and address of each proposed purchaser or other transferee
(the "PROPOSED TRANSFEREE"); (iii) the number of Offered Shares to be
transferred to each Proposed Transferee; (iv) the bona fide cash price or other
consideration for which the Holder proposes to transfer the Offered Shares (the
"OFFERED PRICE"); and (v) that the Holder acknowledges this Notice is an offer
to sell the Offered Shares to the Company and/or its assignee(s) pursuant to the
Company's Right of First Refusal at the Offered Price as provided for in this
Exercise Agreement.

               8.2    Exercise of Right of First Refusal. At any time within
thirty (30) days after the date of the Notice, the Company and/or its
assignee(s) may, by giving written notice to the Holder, elect to purchase all
(or, with the consent of the Holder, less than all) the Offered Shares proposed
to be transferred to any one or more of the Proposed Transferees named in the
Notice, at the purchase price, determined as specified below.

               8.3    Purchase Price. The purchase price for the Offered Shares
purchased under this Section will be the Offered Price, provided that if the
Offered Price consists of no legal consideration (as, for example, in the case
of a transfer by gift) the purchase price will be the fair market value of the
Offered Shares as determined in good faith by the Company's Board of Directors.
If the Offered Price includes consideration other than cash, then the value of
the non-cash consideration, as determined in good faith by the Company's Board
of Directors, will conclusively be deemed to be the cash equivalent value of
such non-cash consideration.

               8.4    Payment. Payment of the purchase price for the Offered
Shares will be payable, at the option of the Company and/or its assignee(s) (as
applicable), by check or by cancellation of all or a portion of any outstanding
indebtedness owed by the Holder to the Company (or to such assignee, in the case
of a purchase of Offered Shares by such assignee) or by any combination thereof.
The purchase price will be paid without interest within sixty (60) days after
the Company's receipt of the Notice, or, at the option of the Company and/or its
assignee(s), in the manner and at the time(s) set forth in the Notice.

               8.5    Holder's Right to Transfer. If all of the Offered Shares
proposed in the Notice to be transferred to a given Proposed Transferee are not
purchased by the Company and/or its assignee(s) as provided in this Section,
then the Holder may sell or otherwise transfer such Offered Shares to each
Proposed Transferee at the Offered Price or at a higher price, provided that (i)
such sale or other transfer is consummated within one hundred twenty (120) days
after the date of the Notice, (ii) any such sale or other transfer is effected
in compliance with all applicable securities laws, and (iii) each Proposed
Transferee agrees in writing that the provisions of this Section will continue
to apply to the Offered Shares in the hands of such Proposed Transferee. If the
Offered Shares described in the Notice are not transferred to each Proposed
Transferee within such one hundred twenty (120) day period, then a new Notice
must


                                       14
<PAGE>   15

be given to the Company pursuant to which the Company will again be offered the
Right of First Refusal before any Shares held by the Holder may be sold or
otherwise transferred.

               8.6    Exempt Transfers. Notwithstanding anything to the contrary
in this Section, the following transfers of Vested Shares will be exempt from
the Right of First Refusal: (i) the transfer of any or all of the Vested Shares
during Purchaser's lifetime by gift or on Purchaser's death by will or intestacy
to Purchaser's "Immediate Family" (as defined below) or to a trust for the
benefit of Purchaser or Purchaser's Immediate Family, provided that each
transferee or other recipient agrees in a writing signed by such transferee or
recipient and satisfactory to the Company that the provisions of this Section
will continue to apply to the transferred Vested Shares in the hands of such
transferee or other recipient; (ii) any transfer of Vested Shares made pursuant
to a statutory merger or statutory consolidation of the Company with or into
another corporation or corporations (except that the Right of First Refusal will
continue to apply thereafter to such Vested Shares, in which case the surviving
corporation of such merger or consolidation shall succeed to the rights of the
Company under this Section unless the agreement of merger or consolidation
expressly otherwise provides or unless the stock of such surviving corporation
is publicly traded); or (iii) any transfer of Vested Shares pursuant to the
winding up and dissolution of the Company. As used herein, the term "IMMEDIATE
FAMILY" will mean Purchaser's spouse, the lineal descendant or antecedent,
father, mother, brother or sister, child, adopted child, grandchild or adopted
grandchild of the Purchaser or the Purchaser's spouse, or the spouse of any
child, adopted child, grandchild or adopted grandchild of Purchaser or the
Purchaser's spouse.

               8.7    Termination of Right of First Refusal. The Right of First
Refusal will terminate as to all Shares on the effective date of the first sale
of Common Stock of the Company to the general public pursuant to a registration
statement filed with and declared effective by the SEC under the Securities Act
(other than a registration statement relating solely to the issuance of Common
Stock pursuant to a business combination or an employee incentive or benefit
plan).

               8.8    Encumbrances on Vested Shares. Purchaser may grant a lien
or security interest in, or pledge, hypothecate or encumber Vested Shares only
if each party to whom such lien or security interest is granted, or to whom such
pledge, hypothecation or other encumbrance is made, agrees in a writing
satisfactory to the Company that: (i) such lien, security interest, pledge,
hypothecation or encumbrance will not apply to such Vested Shares after they are
acquired by the Company and/or its assignees under this Section; and (ii) the
provisions of this Section will continue to apply to such Vested Shares in the
hands of such party and any transferee of such party. Purchaser may not grant a
lien or security interest in, or pledge, hypothecate or encumber, any Unvested
Shares.

        9.     RIGHTS AS A SHAREHOLDER. Subject to the terms and conditions of
this Exercise Agreement, Purchaser will have all of the rights of a shareholder
of the Company with respect to the Shares from and after the date that Shares
are issued to Purchaser until such time as Purchaser disposes of the Shares or
the Company and/or its assignee(s) exercise(s) the Right of First Refusal. Upon
an exercise of the Right of First Refusal, Purchaser will have no further rights
as a holder of the Shares so purchased upon such exercise, other than the right
to receive payment for the Shares so purchased in accordance with the provisions
of this Exercise Agreement, and Purchaser will promptly surrender the stock
certificate(s) evidencing the Shares so purchased to the Company for transfer or
cancellation.



                                       15
<PAGE>   16

        10.    ESCROW. As security for Purchaser's faithful performance of this
Exercise Agreement, Purchaser agrees, immediately upon receipt of the stock
certificate(s) evidencing the Shares, to deliver such certificate(s), together
with the Stock Powers executed by Purchaser and by Purchaser's spouse, if any
(with the date and number of Shares left blank), to the Secretary of the Company
or other designee of the Company (the "ESCROW HOLDER"), who is hereby appointed
to hold such certificate(s) and Stock Powers in escrow and to take all such
actions and to effectuate all such transfers and/or releases of such Shares as
are in accordance with the terms of this Exercise Agreement. Purchaser and the
Company agree that Escrow Holder will not be liable to any party to this
Exercise Agreement (or to any other party) for any actions or omissions unless
Escrow Holder is grossly negligent or intentionally fraudulent in carrying out
the duties of Escrow Holder under this Exercise Agreement. Escrow Holder may
rely upon any letter, notice or other document executed with any signature
purported to be genuine and may rely on the advice of counsel and obey any order
of any court with respect to the transactions contemplated by this Exercise
Agreement. The Shares will be released from escrow upon termination of the Right
of First Refusal.

        11.    RESTRICTIVE LEGENDS AND STOP-TRANSFER ORDERS.

               11.1   Legends. Purchaser understands and agrees that the Company
will place the legends set forth below or similar legends on any stock
certificate(s) evidencing the Shares, together with any other legends that may
be required by state or U.S. Federal securities laws, the Company's Certificate
of Incorporation or Bylaws, any other agreement between Purchaser and the
Company or any agreement between Purchaser and any third party:

               THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
               THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
               UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES ARE
               SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT
               BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES
               ACT AND APPLICABLE STATE SECURITIES LAWS, PURSUANT TO
               REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE
               THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS
               INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE
               SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND
               SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY
               PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES
               ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

               THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
               RESTRICTIONS ON PUBLIC RESALE AND TRANSFER, INCLUDING THE RIGHT
               OF FIRST REFUSAL OPTIONS HELD BY THE ISSUER AND/OR ITS
               ASSIGNEE(S) AS SET FORTH IN A STOCK OPTION EXERCISE AGREEMENT
               BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A
               COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE
               ISSUER. SUCH PUBLIC SALE AND TRANSFER RESTRICTIONS INCLUDING THE
               RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE
               SHARES.



                                       16
<PAGE>   17

               THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A
               MARKET STANDOFF RESTRICTION AS SET FORTH IN A CERTAIN STOCK
               OPTION EXERCISE AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL
               HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE
               PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT,
               THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS AFTER THE
               EFFECTIVE DATE OF THE INITIAL PUBLIC OFFERING OF THE COMMON STOCK
               OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES
               OF THESE SHARES.

               11.2   Stop-Transfer Instructions. Purchaser agrees that, to
ensure compliance with the restrictions imposed by this Exercise Agreement, the
Company may issue appropriate "stop-transfer" instructions to its transfer
agent, if any, and if the Company transfers its own securities, it may make
appropriate notations to the same effect in its own records.

               11.3   Refusal to Transfer. The Company will not be required (i)
to transfer on its books any Shares that have been sold or otherwise transferred
in violation of any of the provisions of this Exercise Agreement or (ii) to
treat as owner of such Shares, or to accord the right to vote or pay dividends
to any purchaser or other transferee to whom such Shares have been so
transferred.

        12.    TAX CONSEQUENCES. PURCHASER UNDERSTANDS THAT PURCHASER MAY SUFFER
ADVERSE TAX CONSEQUENCES AS A RESULT OF PURCHASER'S PURCHASE OR DISPOSITION OF
THE SHARES. PURCHASER REPRESENTS: (i) THAT PURCHASER HAS CONSULTED WITH ANY TAX
ADVISER THAT PURCHASER DEEMS ADVISABLE IN CONNECTION WITH THE PURCHASE OR
DISPOSITION OF THE SHARES AND (ii) THAT PURCHASER IS NOT RELYING ON THE COMPANY
FOR ANY TAX ADVICE. Set forth below is a brief summary as of the date the Plan
was adopted by the Board of some of the U.S. Federal and California tax
consequences of exercise of the Option and disposition of the Shares. THIS
SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT
TO CHANGE. PURCHASER SHOULD CONSULT HIS OR HER OWN TAX ADVISER BEFORE EXERCISING
THIS OPTION OR DISPOSING OF THE SHARES.

               12.1   Exercise of Incentive Stock Option. If the Option
qualifies as an ISO, there will be no regular U.S. Federal income tax liability
or California income tax liability upon the exercise of the Option, although the
excess, if any, of the Fair Market Value of the Shares on the date of exercise
over the Exercise Price will be treated as a tax preference item for U.S.
Federal alternative minimum tax purposes and may subject Purchaser to the
alternative minimum tax in the year of exercise.

               12.2   Exercise of Nonqualified Stock Option. If the Option does
not qualify as an ISO, there may be a regular U.S. Federal income tax liability
and a California income tax liability upon the exercise of the Option. Purchaser
will be treated as having received compensation income (taxable at ordinary
income tax rates) equal to the excess, if any, of the Fair Market Value of the
Shares on the date of exercise over the Exercise Price. The Company may be
required to withhold from Purchaser's compensation or collect from Purchaser and
pay to the applicable taxing authorities an amount equal to a percentage of this
compensation income at the time of exercise.



                                       17
<PAGE>   18

               12.3   Disposition of Shares. The following tax consequences may
apply upon disposition of the Shares.

                      (a)    Incentive Stock Options. If the Shares are held for
more than twelve (12) months after the date of the transfer of the Shares
pursuant to the exercise of an ISO and are disposed of more than two (2) years
after the Date of Grant, any gain realized on disposition of the Shares will be
treated as long term capital gain for federal and California income tax
purposes. If Shares purchased under an ISO are disposed of within the applicable
one (1) year or two (2) year period, any gain realized on such disposition will
be treated as compensation income (taxable at ordinary income rates) to the
extent of the excess, if any, of the Fair Market Value of the Shares on the date
of exercise over the Exercise Price.

                      (b)    Nonqualified Stock Options. If the Shares are held
for more than twelve (12) months after the date of the transfer of the Shares
pursuant to the exercise of an NQSO, any gain realized on disposition of the
Shares will be treated as long term capital gain.

                      (c)    Withholding. The Company may be required to
withhold from the Purchaser's compensation or collect from the Purchaser and pay
to the applicable taxing authorities an amount equal to a percentage of this
compensation income.

        13.    COMPLIANCE WITH LAWS AND REGULATIONS. The issuance and transfer
of the Shares will be subject to and conditioned upon compliance by the Company
and Purchaser with all applicable state and U.S. Federal laws and regulations
and with all applicable requirements of any stock exchange or automated
quotation system on which the Company's Common Stock may be listed or quoted at
the time of such issuance or transfer.

        14.    SUCCESSORS AND ASSIGNS. The Company may assign any of its rights
under this Exercise Agreement, including its rights to purchase Shares under the
Right of First Refusal. This Exercise Agreement shall be binding upon and inure
to the benefit of the successors and assigns of the Company. Subject to the
restrictions on transfer herein set forth, this Exercise Agreement will be
binding upon Purchaser and Purchaser's heirs, executors, administrators, legal
representatives, successors and assigns.

        15.    GOVERNING LAW; SEVERABILITY. This Exercise Agreement shall be
governed by and construed in accordance with the internal laws of the State of
California as such laws are applied to agreements between California residents
entered into and to be performed entirely within California. If any provision of
this Exercise Agreement is determined by a court of law to be illegal or
unenforceable, then such provision will be enforced to the maximum extent
possible and the other provisions will remain fully effective and enforceable.

        16.    NOTICES. Any notice required to be given or delivered to the
Company shall be in writing and addressed to the Corporate Secretary of the
Company at its principal corporate offices. Any notice required to be given or
delivered to Purchaser shall be in writing and addressed to Purchaser at the
address indicated above or to such other address as Purchaser may designate in
writing from time to time to the Company. All notices shall be deemed
effectively given upon personal delivery, (i) three (3) days after deposit in
the United States mail by certified or registered mail (return receipt
requested), (ii) one (1) business day after its deposit with any return receipt
express courier (prepaid), or (iii) one (1) business day after transmission by
rapifax or telecopier.



                                       18
<PAGE>   19

        17.    FURTHER INSTRUMENTS. The parties agree to execute such further
instruments and to take such further action as may be reasonably necessary to
carry out the purposes and intent of this Exercise Agreement.

        18.    HEADINGS. The captions and headings of this Exercise Agreement
are included for ease of reference only and will be disregarded in interpreting
or construing this Exercise Agreement. All references herein to Sections will
refer to Sections of this Exercise Agreement.

        19.    ENTIRE AGREEMENT. The Plan, the Stock Option Agreement and this
Exercise Agreement, together with all Exhibits thereto, constitute the entire
agreement and understanding of the parties with respect to the subject matter of
this Exercise Agreement, and supersede all prior understandings and agreements,
whether oral or written, between the parties hereto with respect to the specific
subject matter hereof.







         [THE REMAINDER OF THIS PAGE HAS INTENTIONALLY BEEN LEFT BLANK.]


                                       19
<PAGE>   20


      IN WITNESS WHEREOF, the Company has caused this Exercise Agreement to be
executed in triplicate by its duly authorized representative and Purchaser has
executed this Exercise Agreement in triplicate as of the Effective Date,
indicated above.

eHNC INC.                               PURCHASER

By: _____________________________       ____________________________________
                                        (Signature)

_________________________________       ____________________________________
(Please print name)                     (Please print name)

_________________________________
(Please print title)












          [SIGNATURE PAGE TO eHNC INC. STOCK OPTION EXERCISE AGREEMENT]


                                       20
<PAGE>   21


                                LIST OF EXHIBITS


Exhibit 1:  Stock Power and Assignment Separate from Stock Certificate

Exhibit 2:  Consent of Spouse

Exhibit 3:  Copy of Purchaser's Check






                                       21
<PAGE>   22



                                    EXHIBIT 1

                           STOCK POWER AND ASSIGNMENT
                         SEPARATE FROM STOCK CERTIFICATE







                                       22
<PAGE>   23


                           STOCK POWER AND ASSIGNMENT
                         SEPARATE FROM STOCK CERTIFICATE


        FOR VALUE RECEIVED and pursuant to that certain Stock Option Exercise
Agreement No. ________ [TO BE COMPLETED AT THE TIME OF EXERCISE] dated as of
_______________, _____, [TO BE COMPLETED AT THE TIME OF EXERCISE] (the
"AGREEMENT"), the undersigned hereby sells, assigns and transfers unto
_______________________________, __________ shares of the Common Stock
__________, par value per share, of eHNC Inc., a Delaware corporation (the
"COMPANY"), standing in the undersigned's name on the books of the Company
represented by Certificate No(s). ______ [TO BE COMPLETED AT THE TIME OF
EXERCISE] delivered herewith, and does hereby irrevocably constitute and appoint
the Secretary of the Company as the undersigned's attorney-in-fact, with full
power of substitution, to transfer said stock on the books of the Company. THIS
ASSIGNMENT MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT AND ANY EXHIBITS
THERETO.


Dated: _______________, _____


                                        PURCHASER

                                        _______________________________________
                                        (Signature)

                                        _______________________________________
                                        (Please Print Name)

                                        _______________________________________
                                        (Spouse's Signature, if any)

                                        _______________________________________
                                        (Please Print Spouse's Name)


INSTRUCTIONS TO PURCHASER: Please do not fill in any blanks other than the
signature line. The purpose of this Stock Power and Assignment is to enable the
Company to acquire the shares pursuant to its "Right of First Refusal" set forth
in the Exercise Agreement without requiring additional signatures on the part of
the Purchaser [OR PURCHASER'S SPOUSE].



                                       23
<PAGE>   24


                                    EXHIBIT 2

                                CONSENT OF SPOUSE








                                       24
<PAGE>   25


                                CONSENT OF SPOUSE


        The undersigned spouse of ______________________________ (the
"PURCHASER") has read, understands, and hereby approves the Stock Option
Exercise Agreement between Purchaser and the Company dated as of ____________
(the "AGREEMENT"). In consideration of the Company's granting my spouse the
right to purchase the Shares as set forth in the Agreement, the undersigned
hereby agrees to be irrevocably bound by the Agreement and further agrees that
any community property interest I may have in the Shares shall similarly be
bound by the Agreement. The undersigned hereby appoints Purchaser as my
attorney-in-fact with respect to any amendment or exercise of any rights under
the Agreement.


Date: ___________________

                                               ________________________________
                                               Print Name of Purchaser's Spouse

                                               ________________________________
                                               Signature of Purchaser's Spouse


                                      Address: ________________________________

                                               ________________________________

                                               ________________________________






                                       25
<PAGE>   26

                                    EXHIBIT 3

                            COPY OF PURCHASER'S CHECK








                                       26
<PAGE>   27

               FORM OF STOCK OPTION AGREEMENT FOR eHNC CONSULTANTS


                                                                  NO. __________

                                    eHNC INC.

                           1999 EQUITY INCENTIVE PLAN

                       NONQUALIFIED STOCK OPTION AGREEMENT


        This Nonqualified Stock Option Agreement (the "AGREEMENT") is made and
entered into as of the date of grant set forth below (the "DATE OF GRANT") by
and between eHNC Inc., a Delaware corporation (the "COMPANY"), and the
participant named below (the "Participant"). Capitalized terms not defined
herein shall have the meaning ascribed to them in the Company's 1999 Equity
Incentive Plan (the "PLAN").

PARTICIPANT:                 ______________________________________

SOCIAL SECURITY NUMBER:      ______________________________________

ADDRESS:                     ______________________________________

                             ______________________________________

TOTAL OPTION SHARES:         ______________________________________

EXERCISE PRICE PER SHARE:    ______________________________________

DATE OF GRANT:               ______________________________________

FIRST VESTING DATE:          ______________________________________

EXPIRATION DATE:             ______________________________________

TYPE OF STOCK OPTION:        NONQUALIFIED STOCK OPTION


        1.     GRANT OF OPTION. The Company hereby grants to Participant a
nonqualified option (this "OPTION") to purchase up to the total number of shares
of Common Stock, $0.00001 par value, of the Company set forth above as Total
Option Shares (the "Shares") at the Exercise Price Per Share set forth above
(the "EXERCISE PRICE"), subject to all of the terms and conditions of this
Agreement and the Plan.

        2.     EXERCISE PERIOD.

               2.1    Exercise Period of Option. Provided Participant continues
to provide services to the Company or a Parent, Subsidiary or Affiliate of the
Company, this Option will become vested and exercisable as to portions of the
Shares as follows: (i) this Option shall not vest nor be exercisable with
respect to any of the Shares until the First Vesting Date set forth on the first
page of this Agreement (the "FIRST VESTING DATE"); (ii) on the First Vesting
Date the Option will become


                                       27
<PAGE>   28

vested and exercisable as to twenty-five percent (25%) of the Shares and (iii)
thereafter on each successive anniversary of the First Vesting Date, the Option
will become vested and exercisable as to an additional twenty-five percent (25%)
of the Shares until the Shares are vested with respect to one hundred percent
(100%) of the Shares. If application of the vesting percentage causes a
fractional share, such share shall be rounded down to the nearest whole share
for each year except for the last year in such vesting period, at the end of
which last year this Option shall become exercisable for the full remainder of
the Shares.

               2.2    Vesting of Options. Shares that are vested pursuant to the
schedule set forth in Section 2.1 are "VESTED SHARES." Shares that are not
vested pursuant to the schedule set forth in Section 2.1 are "UNVESTED SHARES."

               2.3    Expiration. This Option shall expire on the Expiration
Date set forth above or earlier as provided in Section 3 below or pursuant to
the Plan.

        3.     TERMINATION.

               3.1    Termination for Any Reason Except Death, Disability or
Cause. If Participant is Terminated for any reason, except death, Disability or
for Cause, the Option, to the extent (and only to the extent) that it would have
been exercisable by Participant on the Termination Date, may be exercised by
Participant no later than three (3) months after the Termination Date, but in
any event no later than the Expiration Date.

               3.2    Termination Because of Death or Disability. If Participant
is Terminated because of death or Disability of Participant (or Participant dies
within three (3) months of Termination when Termination is for any reason other
than Participant's Disability or for Cause), the Option, to the extent that it
is exercisable by Participant on the Termination Date, may be exercised by
Participant (or Participant's legal representative) no later than twelve (12)
months after the Termination Date, but in any event no later than the Expiration
Date. Any exercise beyond (i) three (3) months after the Termination Date when
the Termination is for any reason other than the Participant's death or
disability, within the meaning of Section 22(e)(3) of the Code; or (ii) twelve
(12) months after the Termination Date when the termination is for Participant's
disability, within the meaning of Section 22(e)(3) of the Code, is deemed to be
an NQSO.

               3.3    Termination for Cause. If Participant is Terminated for
Cause, then the Option will expire on Participant's Termination Date, or at such
later time and on such conditions as are determined by the Committee.

               3.4    No Obligation to Employ. Nothing in the Plan or this
Agreement shall confer on Participant any right to continue in the employ of, or
other relationship with, the Company or any Parent, Subsidiary or Affiliate of
the Company, or limit in any way the right of the Company or any Parent,
Subsidiary or Affiliate of the Company to terminate Participant's employment or
other relationship at any time, with or without Cause.

4.      MANNER OF EXERCISE.

               4.1    Stock Option Exercise Agreement. To exercise this Option,
Participant (or in the case of exercise after Participant's death or incapacity,
Participant's


                                       28
<PAGE>   29

executor, administrator, heir or legatee, as the case may be) must deliver to
the Company an executed stock option exercise agreement in the form attached
hereto as Exhibit A, or in such other form as may be approved by the Committee
from time to time (the "EXERCISE AGREEMENT"), which shall set forth, inter alia,
(i) Participant's election to exercise the Option, (ii) the number of Shares
being purchased, (iii) any restrictions imposed on the Shares and (iv) any
representations, warranties and agreements regarding Participant's investment
intent and access to information as may be required by the Company to comply
with applicable securities laws. If someone other than Participant exercises the
Option, then such person must submit documentation reasonably acceptable to the
Company verifying that such person has the legal right to exercise the Option.

               4.2    Limitations on Exercise. The Option may not be exercised
unless such exercise is in compliance with all applicable federal and state
securities laws, as they are in effect on the date of exercise. The Option may
not be exercised as to fewer than one hundred (100) Shares unless it is
exercised as to all Shares as to which the Option is then exercisable.

               4.3    Payment. The Exercise Agreement shall be accompanied by
full payment of the Exercise Price for the shares being purchased in cash (by
check), or where permitted by law:

        (a)    by cancellation of indebtedness of the Company to the
               Participant;

        (b)    provided that a public market for the Company's stock exists: (i)
               through a "same day sale" commitment from Participant and a
               broker-dealer that is a member of the National Association of
               Securities Dealers (an "NASD DEALER") whereby Participant
               irrevocably elects to exercise the Option and to sell a portion
               of the Shares so purchased sufficient to pay for the total
               Exercise Price and whereby the NASD Dealer irrevocably commits
               upon receipt of such Shares to forward the total Exercise Price
               directly to the Company, or (ii) through a "margin" commitment
               from Participant and an NASD Dealer whereby Participant
               irrevocably elects to exercise the Option and to pledge the
               Shares so purchased to the NASD Dealer in a margin account as
               security for a loan from the NASD Dealer in the amount of the
               total Exercise Price, and whereby the NASD Dealer irrevocably
               commits upon receipt of such Shares to forward the total Exercise
               Price directly to the Company; or

        (c)    by any combination of the foregoing.

               4.4    Tax Withholding. Prior to the issuance of Shares upon each
exercise of the Option, Participant must pay or provide for any applicable
federal, state and local withholding obligations of the Company. If the
Committee permits, Participant may provide for payment of withholding taxes upon
exercise of the Option by requesting that the Company retain the minimum number
of Shares with a Fair Market Value equal to the minimum amount of taxes required
to be withheld; but in no event will the Company withhold Shares if such
withholding would result in adverse accounting consequences to the Company. In
such case, the Company shall issue the net number of Shares to the Participant
by deducting the Shares retained from the Shares issuable upon exercise.



                                       29
<PAGE>   30

               4.5    Issuance of Shares. Provided that the Exercise Agreement
and payment are in form and substance satisfactory to counsel for the Company,
the Company shall issue the Shares registered in the name of Participant,
Participant's authorized assignee, or Participant's legal representative, and
shall deliver certificates representing the Shares with the appropriate legends
affixed thereto.

        5.     COMPLIANCE WITH LAWS AND REGULATIONS. The Plan and this Agreement
are intended to comply with Section 25102(o) of the California Corporations Code
and any regulations relating thereto. Any provision of this Agreement which is
inconsistent with Section 25102(o) or any regulations relating thereto shall,
without further act or amendment by the Company or the Board, be reformed to
comply with the requirements of Section 25102(o) and any regulations relating
thereto. The exercise of the Option and the issuance and transfer of Shares
shall be subject to compliance by the Company and Participant with all
applicable requirements of federal and state securities laws and with all
applicable requirements of any stock exchange on which the Company's Common
Stock may be listed at the time of such issuance or transfer. Participant
understands that the Company is under no obligation to register or qualify the
Shares with the SEC, any state securities commission or any stock exchange to
effect such compliance.

        6.     NONTRANSFERABILITY OF OPTION. The Option may not be transferred
in any manner other than by will or by the laws of descent and distribution and
may be exercised during the lifetime of Participant only by Participant or in
the event of Participant's incapacity, by Participant's legal representative.
The terms of the Option shall be binding upon the executors, administrators,
successors and assigns of Participant.

        7.     COMPANY'S RIGHT OF FIRST REFUSAL. Before any Vested Shares held
by Participant or any transferee of such Vested Shares may be sold or otherwise
transferred (including without limitation a transfer by gift or operation of
law), the Company and/or its assignee(s) shall have an assignable right of first
refusal to purchase the Vested Shares to be sold or transferred on the terms and
conditions set forth in the Exercise Agreement (the "RIGHT OF FIRST REFUSAL").
The Company's Right of First Refusal will terminate when the Company's
securities become publicly traded.

        8.     TAX CONSEQUENCES. Set forth below is a brief summary as of the
Effective Date of the Plan of some of the federal and California tax
consequences of exercise of the Option and disposition of the Shares. THIS
SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT
TO CHANGE. PARTICIPANT SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THE OPTION
OR DISPOSING OF THE SHARES.

               8.1    Exercise of Nonqualified Stock Option. There may be a
regular federal and California income tax liability upon the exercise of the
Option. Participant will be treated as having received compensation income
(taxable at ordinary income tax rates) equal to the excess, if any, of the Fair
Market Value of the Shares on the date of exercise over the Exercise Price. The
Company may be required to withhold from Participant's compensation or collect
from Participant and pay to the applicable taxing authorities an amount equal to
a percentage of this compensation income at the time of exercise.



                                       30
<PAGE>   31

               8.2    Disposition of Shares. If the Shares are held for more
than twelve (12) months after the date of the transfer of the Shares pursuant to
the exercise of a nonqualified stock option, any gain realized on disposition of
the Shares will be treated as long term capital gain.

        9.     PRIVILEGES OF STOCK OWNERSHIP. Participant shall not have any of
the rights of a stockholder with respect to any Shares until the Shares are
issued to Participant.

        10.    INTERPRETATION. Any dispute regarding the interpretation of this
Agreement shall be submitted by Participant or the Company to the Committee for
review. The resolution of such a dispute by the Committee shall be final and
binding on the Company and Participant.

        11.    ENTIRE AGREEMENT. The Plan is incorporated herein by reference.
This Agreement and the Plan constitute the entire agreement of the parties and
supersede all prior undertakings and agreements with respect to the subject
matter hereof.

        12.    NOTICES. Any notice required to be given or delivered to the
Company under the terms of this Agreement shall be in writing and addressed to
the Corporate Secretary of the Company at its principal corporate offices. Any
notice required to be given or delivered to Participant shall be in writing and
addressed to Participant at the address indicated above or to such other address
as such party may designate in writing from time to time to the Company. All
notices shall be deemed to have been given or delivered upon: (i) personal
delivery; (ii) three (3) days after deposit in the United States mail by
certified or registered mail (return receipt requested); (iii) one (1) business
day after deposit with any return receipt express courier (prepaid); or (iv) one
(1) business day after transmission by facsimile, rapifax or telecopier.

        13.    SUCCESSORS AND ASSIGNS. The Company may assign any of its rights
under this Agreement including its rights to purchase Shares under the Right of
First Refusal. This Agreement shall be binding upon and inure to the benefit of
the successors and assigns of the Company. Subject to the restrictions on
transfer set forth herein, this Agreement shall be binding upon Participant and
Participant's heirs, executors, administrators, legal representatives,
successors and assigns.

        14.    GOVERNING LAW. This Agreement shall be governed by and construed
in accordance with the laws of the State of California as such laws are applied
to agreements between California residents entered into and to be performed
entirely within California. If any provision of this Agreement is determined by
a court of law to be illegal or unenforceable, then such provision will be
enforced to the maximum extent possible and the other provisions will remain
fully effective and enforceable.

        15.    ACCEPTANCE. Participant hereby acknowledges receipt of a copy of
the Plan and this Agreement. Participant has read and understands the terms and
provisions thereof, and accepts the Option subject to all the terms and
conditions of the Plan and this Agreement. Participant acknowledges that there
may be adverse tax consequences upon exercise of the Option or disposition of
the Shares and that Participant should consult a tax adviser prior to such
exercise or disposition.



                                       31
<PAGE>   32

        IN WITNESS WHEREOF, the Company has caused this Agreement to be executed
in triplicate by its duly authorized representative and Participant has executed
this Agreement in triplicate, effective as of the Date of Grant.


eHNC INC.                               PARTICIPANT

By: _____________________________       _____________________________________
                                        (Signature)

_________________________________       _____________________________________
(Please print name)                     (Please print name)

_________________________________
(Please print title)






                                       32
<PAGE>   33


                                    EXHIBIT A


                     FORM OF STOCK OPTION EXERCISE AGREEMENT
                          FOR NON eHNC EMPLOYEES UNDER
                           1999 EQUITY INCENTIVE PLAN







                                       33
<PAGE>   34

                                                            FOR eHNC CONSULTANTS

                                                                  NO. __________


                                    eHNC INC.

                           1999 EQUITY INCENTIVE PLAN

                         STOCK OPTION EXERCISE AGREEMENT


        This Stock Option Exercise Agreement (the "EXERCISE AGREEMENT") is made
and entered into as of _________________________, 20___ (the "EFFECTIVE DATE")
by and between eHNC Inc., a Delaware corporation (the "COMPANY"), and the
purchaser named below (the "PURCHASER"). Capitalized terms not defined herein
shall have the meanings ascribed to them in the Company's 1999 Equity Incentive
Plan (the "PLAN").


PURCHASER:                   ________________________________________________

                             ________________________________________________

SOCIAL SECURITY NUMBER:      ________________________________________________

ADDRESS:                     ________________________________________________

                             ________________________________________________

TOTAL NUMBER OF SHARES:      ________________________________________________

EXERCISE PRICE PER SHARE:    ________________________________________________

DATE OF GRANT:               ________________________________________________

FIRST VESTING DATE:          ________________________________________________

EXPIRATION DATE:             ________________________________________________

TYPE OF STOCK OPTION         NONQUALIFIED STOCK OPTION

        1.     EXERCISE OF OPTION.

        1.1    Exercise. Pursuant to exercise of that certain option (the
"OPTION") granted to Purchaser under the Plan and subject to the terms and
conditions of this Exercise Agreement, Purchaser hereby purchases from the
Company, and the Company hereby sells to Purchaser, the Total Number of Shares
set forth above (the "SHARES") of the Company's Common Stock, $0.00001 par value
per share, at the Exercise Price Per Share set forth above (the "EXERCISE
PRICE"). As used in this Exercise Agreement, the term "SHARES" refers to the
Shares purchased under this Exercise Agreement and includes all securities
received (i) in


                                       34
<PAGE>   35

replacement of the Shares, (ii) as a result of stock dividends or stock splits
with respect to the Shares, and (iii) all securities received in replacement of
the Shares in a merger, recapitalization, reorganization or similar corporate
transaction.

               1.2    Title to Shares. The exact spelling of the name(s) under
which Purchaser will take title to the Shares is:

                      _________________________________________________________

                      _________________________________________________________

               Purchaser desires to take title to the Shares as follows:

                      [ ]  Individual, as separate property

                      [ ]  Husband and wife, as community property

                      [ ]  Joint Tenants

               1.3    Payment. Purchaser hereby delivers payment of the Exercise
Price in the manner permitted in the Stock Option Agreement as follows (check
and complete as appropriate):


                      [ ]  in cash (by check) in the amount of $____________,
                           receipt of which is acknowledged by the Company; or

                      [ ]  by cancellation of indebtedness of the Company owed
                           to Purchaser in the amount of $_______________.

        2.     DELIVERY.

               2.1    Deliveries by Purchaser. Purchaser hereby delivers to the
Company (i) this Exercise Agreement, (ii) two (2) copies of a blank Stock Power
and Assignment Separate from Stock Certificate in the form of Exhibit 1 attached
hereto (the "STOCK POWERS"), both executed by Purchaser (and Purchaser's spouse,
if any), (iii) if Purchaser is married, a Consent of Spouse in the form of
Exhibit 2 attached hereto (the "SPOUSE CONSENT") executed by Purchaser's spouse,
and (iv) the Exercise Price as provided in Section 1.3 and payment or other
provision for any applicable tax obligations in the form of _______________,
[ADD DESCRIPTION OF METHOD OF PAYMENT (USUALLY A "CHECK")] a copy of which is
attached hereto as Exhibit 3.

               2.2    Deliveries by the Company. Upon its receipt of the
Exercise Price, payment or other provision for any applicable tax obligations
and all the documents to be executed and delivered by Purchaser to the Company
under Section 2.1, the Company will issue a duly executed stock certificate
evidencing the Shares in the name of Purchaser to be placed in escrow as
provided in Section 10 until expiration or termination of the Company's Right of
First Refusal described in Section 8.

        3.     REPRESENTATIONS AND WARRANTIES OF PURCHASER. Purchaser represents
and warrants to the Company that:



                                       35
<PAGE>   36

               3.1    Agrees to Terms of the Plan. Purchaser has received a copy
of the Plan and the Stock Option Agreement, has read and understands the terms
of the Plan, the Stock Option Agreement and this Exercise Agreement, and agrees
to be bound by their terms and conditions. Purchaser acknowledges that there may
be adverse tax consequences upon exercise of the Option or disposition of the
Shares, and that Purchaser should consult a tax adviser prior to such exercise
or disposition.

               3.2    Purchase for Own Account for Investment. Purchaser is
purchasing the Shares for Purchaser's own account for investment purposes only
and not with a view to, or for sale in connection with, a distribution of the
Shares within the meaning of the Securities Act. Purchaser has no present
intention of selling or otherwise disposing of all or any portion of the Shares
and no one other than Purchaser has any beneficial ownership of any of the
Shares.

               3.3    Access to Information. Purchaser has had access to all
information regarding the Company and its present and prospective business,
assets, liabilities and financial condition that Purchaser reasonably considers
important in making the decision to purchase the Shares, and Purchaser has had
ample opportunity to ask questions of the Company's representatives concerning
such matters and this investment.

               3.4    Understanding of Risks. Purchaser is fully aware of: (i)
the highly speculative nature of the investment in the Shares; (ii) the
financial hazards involved; (iii) the lack of liquidity of the Shares and the
restrictions on transferability of the Shares (e.g., that Purchaser may not be
able to sell or dispose of the Shares or use them as collateral for loans); (iv)
the qualifications and backgrounds of the management of the Company; and (v) the
tax consequences of investment in the Shares. Purchaser is capable of evaluating
the merits and risks of this investment, has the ability to protect Purchaser's
own interests in this transaction and is financially capable of bearing a total
loss of this investment.

               3.5    No General Solicitation. At no time was Purchaser
presented with or solicited by any publicly issued or circulated newspaper,
mail, radio, television or other form of general advertising or solicitation in
connection with the offer, sale and purchase of the Shares.

               3.6    Financial Statements. Purchaser has received or otherwise
had access to financial statements of the Company annually during the period
that the Option was outstanding.

        4.     COMPLIANCE WITH SECURITIES LAWS.

               4.1    Compliance with U.S. Federal Securities Laws. Purchaser
understands and acknowledges that the Shares have not been registered with the
SEC under the Securities Act and that, notwithstanding any other provision of
the Stock Option Agreement to the contrary, the exercise of any rights to
purchase any Shares is expressly conditioned upon compliance with the Securities
Act and all applicable state securities laws. Purchaser agrees to cooperate with
the Company to ensure compliance with such laws. The Shares are being issued
under the Securities Act pursuant to the exemption provided by SEC Rule 701.

               4.2    Compliance with California Securities Laws. THE PLAN, THE
STOCK OPTION AGREEMENT, AND THIS EXERCISE AGREEMENT ARE INTENDED TO COMPLY WITH
SECTION 25102(o) OF THE CALIFORNIA CORPORATIONS CODE AND ANY RULES (INCLUDING
COMMISSIONER RULES, IF APPLICABLE) OR


                                       36
<PAGE>   37

REGULATIONS PROMULGATED THEREUNDER BY THE CALIFORNIA DEPARTMENT OF CORPORATIONS
(THE "REGULATIONS"). ANY PROVISION OF THIS EXERCISE AGREEMENT WHICH IS
INCONSISTENT WITH SECTION 25102(O) SHALL, WITHOUT FURTHER ACT OR AMENDMENT BY
THE COMPANY OR THE BOARD, BE REFORMED TO COMPLY WITH THE REQUIREMENTS OF SECTION
25102(O). THE SALE OF THE SECURITIES THAT ARE THE SUBJECT OF THIS EXERCISE
AGREEMENT, IF NOT YET QUALIFIED WITH THE CALIFORNIA COMMISSIONER OF CORPORATIONS
AND NOT EXEMPT FROM SUCH QUALIFICATION, IS SUBJECT TO SUCH QUALIFICATION, AND
THE ISSUANCE OF SUCH SECURITIES, AND THE RECEIPT OF ANY PART OF THE
CONSIDERATION THEREFOR PRIOR TO SUCH QUALIFICATION IS UNLAWFUL UNLESS THE SALE
IS EXEMPT. THE RIGHTS OF THE PARTIES TO THIS EXERCISE AGREEMENT ARE EXPRESSLY
CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED OR AN EXEMPTION BEING
AVAILABLE.

        5.     RESTRICTED SECURITIES.

               5.1    No Transfer Unless Registered or Exempt. Purchaser
understands that Purchaser may not transfer any Shares unless such Shares are
registered under the Securities Act or qualified under applicable state
securities laws or unless, in the opinion of counsel to the Company, exemptions
from such registration and qualification requirements are available for such
transfer. Purchaser understands that only the Company may file a registration
statement with the SEC and that the Company is under no obligation to do so with
respect to the Shares. Purchaser has also been advised that exemptions from
registration and qualification may not be available or may not permit Purchaser
to transfer all or any of the Shares in the amounts or at the times proposed by
Purchaser.

               5.2    SEC Rule 144. In addition, Purchaser has been advised that
SEC Rule 144 promulgated under the Securities Act, which permits certain limited
sales of unregistered securities, is not presently available with respect to the
Shares and, in any event, requires that the Shares be held for a minimum of one
(1) year, and in certain cases two (2) years, after they have been purchased and
paid for (within the meaning of Rule 144). Purchaser understands that Rule 144
may indefinitely restrict transfer of the Shares so long as Purchaser remains an
"affiliate" of the Company or if "current public information" about the Company
(as defined in Rule 144) is not publicly available.

               5.3    SEC Rule 701. The Shares are issued pursuant to SEC Rule
701 promulgated under the Securities Act and may become freely tradeable by
non-affiliates (under limited conditions regarding the method of sale) of the
Company ninety (90) days after the first sale of Common Stock of the Company to
the general public pursuant to a registration statement filed with and declared
effective by the SEC, subject to the lengthier market standoff agreement
contained in Section 7 of this Exercise Agreement or any other agreement entered
into by Purchaser. Affiliates must comply with the provisions (other than the
holding period requirements) of Rule 144.



                                       37
<PAGE>   38

        6.     RESTRICTIONS ON TRANSFERS.

               6.1    Disposition of Shares. Purchaser hereby agrees that
Purchaser shall make no disposition of the Shares (other than as permitted by
this Exercise Agreement) unless and until:

                      (a)    Purchaser shall have notified the Company of the
proposed disposition and provided a written summary of the terms and conditions
of the proposed disposition;

                      (b)    Purchaser shall have complied with all requirements
of this Exercise Agreement applicable to the disposition of the Shares;

                      (c)    Purchaser shall have provided the Company with
written assurances, in form and substance satisfactory to counsel for the
Company, that (i) the proposed disposition does not require registration of the
Shares under the Securities Act or (ii) all appropriate actions necessary for
compliance with the registration requirements of the Securities Act or of any
exemption from registration available under the Securities Act (including Rule
144) have been taken; and

                      (d)    Purchaser shall have provided the Company with
written assurances, in form and substance satisfactory to the Company, that the
proposed disposition will not result in the contravention of any transfer
restrictions applicable to the Shares pursuant to the provisions of the
Regulations referred to in Section 4.2 hereof.

               6.2    Restriction on Transfer. Purchaser shall not transfer,
assign, grant a lien or security interest in, pledge, hypothecate, encumber or
otherwise dispose of any of the Shares which are subject to the Company's Right
of First Refusal described below, except as permitted by this Exercise
Agreement.

               6.3    Transferee Obligations. Each person (other than the
Company) to whom the Shares are transferred by means of one of the permitted
transfers specified in this Exercise Agreement must, as a condition precedent to
the validity of such transfer, acknowledge in writing to the Company that such
person is bound by the provisions of this Exercise Agreement and that the
transferred Shares are subject to (i) the Company's Right of First Refusal
granted hereunder and (ii) the market stand-off provisions of Section 7 hereof,
to the same extent such Shares would be so subject if retained by the Purchaser.

        7.     MARKET STANDOFF AGREEMENT. Purchaser agrees in connection with
any registration of the Company's securities that, upon the request of the
Company or the underwriters managing any public offering of the Company's
securities, Purchaser will not sell or otherwise dispose of any Shares without
the prior written consent of the Company or such underwriters, as the case may
be, for such period of time (not to exceed one hundred eighty (180) days) after
the effective date of such registration requested by such managing underwriters
and subject to all restrictions as the Company or the underwriters may specify.
Purchaser further agrees to enter into any agreement reasonably required by the
underwriters to implement the foregoing.



                                       38
<PAGE>   39

        8.     COMPANY'S RIGHT OF FIRST REFUSAL. Before any Vested Shares held
by Purchaser or any transferee of such Vested Shares (either sometimes referred
to herein as the "Holder") may be sold or otherwise transferred (including,
without limitation, a transfer by gift or operation of law), the Company and/or
its assignee(s) will have a right of first refusal to purchase the Vested Shares
to be sold or transferred (the "OFFERED SHARES") on the terms and conditions set
forth in this Section (the "RIGHT OF FIRST REFUSAL").

               8.1    Notice of Proposed Transfer. The Holder of the Offered
Shares will deliver to the Company a written notice (the "NOTICE") stating: (i)
the Holder's bona fide intention to sell or otherwise transfer the Offered
Shares; (ii) the name and address of each proposed purchaser or other transferee
(the "PROPOSED TRANSFEREE"); (iii) the number of Offered Shares to be
transferred to each Proposed Transferee; (iv) the bona fide cash price or other
consideration for which the Holder proposes to transfer the Offered Shares (the
"OFFERED PRICE"); and (v) that the Holder acknowledges this Notice is an offer
to sell the Offered Shares to the Company and/or its assignee(s) pursuant to the
Company's Right of First Refusal at the Offered Price as provided for in this
Exercise Agreement.

               8.2    Exercise of Right of First Refusal. At any time within
thirty (30) days after the date of the Notice, the Company and/or its
assignee(s) may, by giving written notice to the Holder, elect to purchase all
(or, with the consent of the Holder, less than all) the Offered Shares proposed
to be transferred to any one or more of the Proposed Transferees named in the
Notice, at the purchase price, determined as specified below.

               8.3    Purchase Price. The purchase price for the Offered Shares
purchased under this Section will be the Offered Price, provided that if the
Offered Price consists of no legal consideration (as, for example, in the case
of a transfer by gift) the purchase price will be the fair market value of the
Offered Shares as determined in good faith by the Company's Board of Directors.
If the Offered Price includes consideration other than cash, then the value of
the non-cash consideration, as determined in good faith by the Company's Board
of Directors, will conclusively be deemed to be the cash equivalent value of
such non-cash consideration.

               8.4    Payment. Payment of the purchase price for the Offered
Shares will be payable, at the option of the Company and/or its assignee(s) (as
applicable), by check or by cancellation of all or a portion of any outstanding
indebtedness owed by the Holder to the Company (or to such assignee, in the case
of a purchase of Offered Shares by such assignee) or by any combination thereof.
The purchase price will be paid without interest within sixty (60) days after
the Company's receipt of the Notice, or, at the option of the Company and/or its
assignee(s), in the manner and at the time(s) set forth in the Notice.

               8.5    Holder's Right to Transfer. If all of the Offered Shares
proposed in the Notice to be transferred to a given Proposed Transferee are not
purchased by the Company and/or its assignee(s) as provided in this Section,
then the Holder may sell or otherwise transfer such Offered Shares to each
Proposed Transferee at the Offered Price or at a higher price, provided that (i)
such sale or other transfer is consummated within one hundred twenty (120) days
after the date of the Notice, (ii) any such sale or other transfer is effected
in compliance with all applicable securities laws, and (iii) each Proposed
Transferee agrees in writing that the provisions of this Section will continue
to apply to the Offered Shares in the hands of such Proposed Transferee. If the
Offered Shares described in the Notice are not transferred to each Proposed
Transferee within such one hundred twenty (120) day period, then a new Notice
must


                                       39
<PAGE>   40

be given to the Company pursuant to which the Company will again be offered the
Right of First Refusal before any Shares held by the Holder may be sold or
otherwise transferred.

               8.6    Exempt Transfers. Notwithstanding anything to the contrary
in this Section, the following transfers of Vested Shares will be exempt from
the Right of First Refusal: (i) the transfer of any or all of the Vested Shares
during Purchaser's lifetime by gift or on Purchaser's death by will or intestacy
to Purchaser's "Immediate Family" (as defined below) or to a trust for the
benefit of Purchaser or Purchaser's Immediate Family, provided that each
transferee or other recipient agrees in a writing signed by such transferee or
recipient and satisfactory to the Company that the provisions of this Section
will continue to apply to the transferred Vested Shares in the hands of such
transferee or other recipient; (ii) any transfer of Vested Shares made pursuant
to a statutory merger or statutory consolidation of the Company with or into
another corporation or corporations (except that the Right of First Refusal will
continue to apply thereafter to such Vested Shares, in which case the surviving
corporation of such merger or consolidation shall succeed to the rights of the
Company under this Section unless the agreement of merger or consolidation
expressly otherwise provides or unless the stock of such surviving corporation
is publicly traded) or unless the Shares or securities into which the Shares are
converted or exchanged in such merger or consolidation are registered under the
Securities Act; or (iii) any transfer of Vested Shares pursuant to the winding
up and dissolution of the Company. As used herein, the term "IMMEDIATE FAMILY"
will mean Purchaser's spouse, the lineal descendant or antecedent, father,
mother, brother or sister, child, adopted child, grandchild or adopted
grandchild of the Purchaser or the Purchaser's spouse, or the spouse of any
child, adopted child, grandchild or adopted grandchild of Purchaser or the
Purchaser's spouse.

               8.7    Termination of Right of First Refusal. The Right of First
Refusal will terminate as to all Shares on the effective date of the first sale
of Common Stock of the Company to the general public pursuant to a registration
statement filed with and declared effective by the SEC under the Securities Act
(other than a registration statement relating solely to the issuance of Common
Stock pursuant to a business combination or an employee incentive or benefit
plan).

               8.8    Encumbrances on Vested Shares. Purchaser may grant a lien
or security interest in, or pledge, hypothecate or encumber Vested Shares only
if each party to whom such lien or security interest is granted, or to whom such
pledge, hypothecation or other encumbrance is made, agrees in a writing
satisfactory to the Company that: (i) such lien, security interest, pledge,
hypothecation or encumbrance will not apply to such Vested Shares after they are
acquired by the Company and/or its assignees under this Section; and (ii) the
provisions of this Section will continue to apply to such Vested Shares in the
hands of such party and any transferee of such party. Purchaser may not grant a
lien or security interest in, or pledge, hypothecate or encumber, any Unvested
Shares.

        9.     RIGHTS AS A SHAREHOLDER. Subject to the terms and conditions of
this Exercise Agreement, Purchaser will have all of the rights of a shareholder
of the Company with respect to the Shares from and after the date that Shares
are issued to Purchaser until such time as Purchaser disposes of the Shares or
the Company and/or its assignee(s) exercise(s) the Right of First Refusal. Upon
an exercise of the Right of First Refusal, Purchaser will have no further rights
as a holder of the Shares so purchased upon such exercise, other than the right
to receive payment for the Shares so purchased in accordance with the provisions
of this Exercise Agreement, and Purchaser will promptly surrender the stock
certificate(s) evidencing the Shares so purchased to the Company for transfer or
cancellation.



                                       40
<PAGE>   41

        10.    ESCROW. As security for Purchaser's faithful performance of this
Exercise Agreement, Purchaser agrees, immediately upon receipt of the stock
certificate(s) evidencing the Shares, to deliver such certificate(s), together
with the Stock Powers executed by Purchaser and by Purchaser's spouse, if any
(with the date and number of Shares left blank), to the Secretary of the Company
or other designee of the Company (the "ESCROW HOLDER"), who is hereby appointed
to hold such certificate(s) and Stock Powers in escrow and to take all such
actions and to effectuate all such transfers and/or releases of such Shares as
are in accordance with the terms of this Exercise Agreement. Purchaser and the
Company agree that Escrow Holder will not be liable to any party to this
Exercise Agreement (or to any other party) for any actions or omissions unless
Escrow Holder is grossly negligent or intentionally fraudulent in carrying out
the duties of Escrow Holder under this Exercise Agreement. Escrow Holder may
rely upon any letter, notice or other document executed with any signature
purported to be genuine and may rely on the advice of counsel and obey any order
of any court with respect to the transactions contemplated by this Exercise
Agreement. The Shares will be released from escrow upon termination of the Right
of First Refusal.

        11.    RESTRICTIVE LEGENDS AND STOP-TRANSFER ORDERS.

               11.1   Legends. Purchaser understands and agrees that the Company
will place the legends set forth below or similar legends on any stock
certificate(s) evidencing the Shares, together with any other legends that may
be required by state or U.S. Federal securities laws, the Company's Certificate
of Incorporation or Bylaws, any other agreement between Purchaser and the
Company or any agreement between Purchaser and any third party:

               THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
               THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
               UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES ARE
               SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT
               BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES
               ACT AND APPLICABLE STATE SECURITIES LAWS, PURSUANT TO
               REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE
               THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS
               INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THESE
               SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND
               SUBSTANCE SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY
               PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES
               ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

               THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
               RESTRICTIONS ON PUBLIC RESALE AND TRANSFER, INCLUDING THE RIGHT
               OF FIRST REFUSAL OPTIONS HELD BY THE ISSUER AND/OR ITS
               ASSIGNEE(S) AS SET FORTH IN A STOCK OPTION EXERCISE AGREEMENT
               BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A
               COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE
               ISSUER. SUCH PUBLIC SALE AND TRANSFER RESTRICTIONS INCLUDING THE
               RIGHT OF FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE
               SHARES.



                                       41
<PAGE>   42

               THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A
               MARKET STANDOFF RESTRICTION AS SET FORTH IN A CERTAIN STOCK
               OPTION EXERCISE AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL
               HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE
               PRINCIPAL OFFICE OF THE ISSUER. AS A RESULT OF SUCH AGREEMENT,
               THESE SHARES MAY NOT BE TRADED PRIOR TO 180 DAYS AFTER THE
               EFFECTIVE DATE OF THE INITIAL PUBLIC OFFERING OF THE COMMON STOCK
               OF THE ISSUER HEREOF. SUCH RESTRICTION IS BINDING ON TRANSFEREES
               OF THESE SHARES.

               11.2   Stop-Transfer Instructions. Purchaser agrees that, to
ensure compliance with the restrictions imposed by this Exercise Agreement, the
Company may issue appropriate "stop-transfer" instructions to its transfer
agent, if any, and if the Company transfers its own securities, it may make
appropriate notations to the same effect in its own records.

               11.3   Refusal to Transfer. The Company will not be required (i)
to transfer on its books any Shares that have been sold or otherwise transferred
in violation of any of the provisions of this Exercise Agreement or (ii) to
treat as owner of such Shares, or to accord the right to vote or pay dividends
to any purchaser or other transferee to whom such Shares have been so
transferred.

        12.    TAX CONSEQUENCES. PURCHASER UNDERSTANDS THAT PURCHASER MAY SUFFER
ADVERSE TAX CONSEQUENCES AS A RESULT OF PURCHASER'S PURCHASE OR DISPOSITION OF
THE SHARES. PURCHASER REPRESENTS: (i) THAT PURCHASER HAS CONSULTED WITH ANY TAX
ADVISER THAT PURCHASER DEEMS ADVISABLE IN CONNECTION WITH THE PURCHASE OR
DISPOSITION OF THE SHARES AND (ii) THAT PURCHASER IS NOT RELYING ON THE COMPANY
FOR ANY TAX ADVICE. Set forth below is a brief summary as of the date the Plan
was adopted by the Board of some of the U.S. Federal and California tax
consequences of exercise of the Option and disposition of the Shares. THIS
SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT
TO CHANGE. PURCHASER SHOULD CONSULT HIS OR HER OWN TAX ADVISER BEFORE EXERCISING
THIS OPTION OR DISPOSING OF THE SHARES.

               12.1   Exercise of Nonqualified Stock Option. There may be a
regular U.S. Federal income tax liability and a California income tax liability
upon the exercise of the Option. Purchaser will be treated as having received
compensation income (taxable at ordinary income tax rates) equal to the excess,
if any, of the Fair Market Value of the Shares on the date of exercise over the
Exercise Price. The Company may be required to withhold from Purchaser's
compensation or collect from Purchaser and pay to the applicable taxing
authorities an amount equal to a percentage of this compensation income at the
time of exercise.

               12.3   Disposition of Shares. If the Shares are held for more
than twelve (12) months after the date of the transfer of the Shares pursuant to
the exercise of a nonqualified stock option, any gain realized on disposition of
the Shares will be treated as long term capital gain.

        13.    COMPLIANCE WITH LAWS AND REGULATIONS. The issuance and transfer
of the Shares will be subject to and conditioned upon compliance by the Company
and Purchaser with



                                       42
<PAGE>   43

all applicable state and U.S. Federal laws and regulations and with all
applicable requirements of any stock exchange or automated quotation system on
which the Company's Common Stock may be listed or quoted at the time of such
issuance or transfer.

        14.    SUCCESSORS AND ASSIGNS. The Company may assign any of its rights
under this Exercise Agreement, including its rights to purchase Shares under the
Right of First Refusal. This Exercise Agreement shall be binding upon and inure
to the benefit of the successors and assigns of the Company. Subject to the
restrictions on transfer herein set forth, this Exercise Agreement will be
binding upon Purchaser and Purchaser's heirs, executors, administrators, legal
representatives, successors and assigns.

        15.    GOVERNING LAW; SEVERABILITY. This Exercise Agreement shall be
governed by and construed in accordance with the internal laws of the State of
California as such laws are applied to agreements between California residents
entered into and to be performed entirely within California. If any provision of
this Exercise Agreement is determined by a court of law to be illegal or
unenforceable, then such provision will be enforced to the maximum extent
possible and the other provisions will remain fully effective and enforceable.

        16.    NOTICES. Any notice required to be given or delivered to the
Company shall be in writing and addressed to the Corporate Secretary of the
Company at its principal corporate offices. Any notice required to be given or
delivered to Purchaser shall be in writing and addressed to Purchaser at the
address indicated above or to such other address as Purchaser may designate in
writing from time to time to the Company. All notices shall be deemed
effectively given upon personal delivery, (i) three (3) days after deposit in
the United States mail by certified or registered mail (return receipt
requested), (ii) one (1) business day after its deposit with any return receipt
express courier (prepaid), or (iii) one (1) business day after transmission by
rapifax or telecopier.

        17.    FURTHER INSTRUMENTS. The parties agree to execute such further
instruments and to take such further action as may be reasonably necessary to
carry out the purposes and intent of this Exercise Agreement.

        18.    HEADINGS. The captions and headings of this Exercise Agreement
are included for ease of reference only and will be disregarded in interpreting
or construing this Exercise Agreement. All references herein to Sections will
refer to Sections of this Exercise Agreement.

        19.    ENTIRE AGREEMENT. The Plan, the Stock Option Agreement and this
Exercise Agreement, together with all Exhibits thereto, constitute the entire
agreement and understanding of the parties with respect to the subject matter of
this Exercise Agreement, and supersede all prior understandings and agreements,
whether oral or written, between the parties hereto with respect to the specific
subject matter hereof.



                                       43
<PAGE>   44


      IN WITNESS WHEREOF, the Company has caused this Exercise Agreement to be
executed in triplicate by its duly authorized representative and Purchaser has
executed this Exercise Agreement in triplicate as of the Effective Date,
indicated above.

eHNC INC.                               PURCHASER

By: _____________________________       ______________________________________
                                        (Signature)

_________________________________       ______________________________________
(Please print name)                     (Please print name)

_________________________________
(Please print title)














          [SIGNATURE PAGE TO eHNC INC. STOCK OPTION EXERCISE AGREEMENT]



                                       44
<PAGE>   45


                                LIST OF EXHIBITS


Exhibit 1:  Stock Power and Assignment Separate from Stock Certificate

Exhibit 2:  Consent of Spouse

Exhibit 3:  Copy of Purchaser's Check








                                       45
<PAGE>   46

                                    EXHIBIT 1

                           STOCK POWER AND ASSIGNMENT
                         SEPARATE FROM STOCK CERTIFICATE







                                       46
<PAGE>   47


                           STOCK POWER AND ASSIGNMENT
                         SEPARATE FROM STOCK CERTIFICATE


        FOR VALUE RECEIVED and pursuant to that certain Stock Option Exercise
Agreement No. ________ [TO BE COMPLETED AT THE TIME OF EXERCISE] dated as of
_______________, _____, [TO BE COMPLETED AT THE TIME OF EXERCISE] (the
"AGREEMENT"), the undersigned hereby sells, assigns and transfers unto
_______________________________, __________ shares of the Common Stock
__________, par value per share, of eHNC Inc., a Delaware corporation (the
"COMPANY"), standing in the undersigned's name on the books of the Company
represented by Certificate No(s). ______ [TO BE COMPLETED AT THE TIME OF
EXERCISE] delivered herewith, and does hereby irrevocably constitute and appoint
the Secretary of the Company as the undersigned's attorney-in-fact, with full
power of substitution, to transfer said stock on the books of the Company. THIS
ASSIGNMENT MAY ONLY BE USED AS AUTHORIZED BY THE AGREEMENT AND ANY EXHIBITS
THERETO.


Dated: _______________, _____


                                        PURCHASER

                                        _______________________________________
                                        (Signature)

                                        _______________________________________
                                        (Please Print Name)

                                        _______________________________________
                                        (Spouse's Signature, if any)

                                        _______________________________________
                                        (Please Print Spouse's Name)


INSTRUCTIONS TO PURCHASER: Please do not fill in any blanks other than the
signature line. The purpose of this Stock Power and Assignment is to enable the
Company to acquire the shares pursuant to its "Right of First Refusal" set forth
in the Exercise Agreement without requiring additional signatures on the part of
the Purchaser [OR PURCHASER'S SPOUSE].




                                       47
<PAGE>   48


                                    EXHIBIT 2

                                CONSENT OF SPOUSE








                                       48
<PAGE>   49


                                CONSENT OF SPOUSE


        The undersigned spouse of ______________________________ (the
"PURCHASER") has read, understands, and hereby approves the Stock Option
Exercise Agreement between Purchaser and the Company dated as of (the
"AGREEMENT"). In consideration of the Company's granting my spouse the right to
purchase the Shares as set forth in the Agreement, the undersigned hereby agrees
to be irrevocably bound by the Agreement and further agrees that any community
property interest I may have in the Shares shall similarly be bound by the
Agreement. The undersigned hereby appoints Purchaser as my attorney-in-fact with
respect to any amendment or exercise of any rights under the Agreement.



Date: _____________________


                                                ________________________________
                                                Print Name of Purchaser's Spouse

                                                ________________________________
                                                Signature of Purchaser's Spouse


                                       Address: ________________________________

                                                ________________________________

                                                ________________________________








                                       49
<PAGE>   50


                                    EXHIBIT 3

                            COPY OF PURCHASER'S CHECK










                                       50