<PAGE>

EXHIBIT 10.1

                        YAK COMMUNICATIONS (USA), INC.
                            1999 STOCK OPTION PLAN
                           (EFFECTIVE JUNE 30, 1999)

     1.  DEFINITIONS: Wherever used herein, the following terms shall have the
following meanings:

     (a) "Plan" shall mean this Stock Option Plan.

     (b) "Corporation" or "Company" shall mean Yak Communications (USA), Inc., a
Florida corporation, or any successor thereof.

     (c) "Committee" shall mean the administrative stock option committee
designated by the Board of Directors of the Corporation, or, if none is
designated, the Board of Directors itself.

     (d) "Participant" shall mean any individual designated by the Committee
under Paragraph 4 hereof for participation in the Plan.

     (e) "Non-Employee Director" shall mean a director who is not an officer of
the Company (as defined in Rule 16b-1(f) under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), or any subsequently amended definition
therein) or of any subsidiary, is not otherwise currently employed by the
Company or any subsidiary, and is not otherwise excluded from being a non-
employee director under Rule 16b-3 under the Exchange Act.

     (f) "Nonqualified Option" shall mean an option to purchase Common Stock of
the Corporation which meets the requirements set forth in the Plan but does not
meet the definition of an incentive stock option set forth in Section 422 of the
Internal Revenue Code of 1986, as amended (the "Code").

     (g) "Incentive Option" shall mean an option to purchase Common Stock of the
Corporation which meets the requirements set forth in the Plan and also meets
the definition of incentive stock option set forth in Section 422 of the Code
and which is granted to an individual subject to having personal income taxed
under the Code.

     (h) "Reload Option" shall mean an option granted to a Participant equal to
the number of shares of already owned Common Stock delivered by the Participant
to pay for exercise of an option, as more fully described in Section 8, below.

     2.  ADMINISTRATION: The Plan shall be administered by the Committee which,
if the Company is a reporting company under the Exchange Act, shall consist
solely of at least two Non- Employee Directors. Subject to the provisions of the
Plan, the Committee is authorized to interpret the Plan, to promulgate, amend
and rescind rules and regulations relating to the Plan and to make all other
determinations necessary or advisable for its administration. Interpretation and
construction of any provision of the Plan by the Committee shall be final and
conclusive. The foregoing provisions of this Section 2 to the contrary
notwithstanding, the Board of Directors may also exercise any power given to the
Committee under the Plan.

     3.  MAXIMUM NUMBER OF SHARES SUBJECT TO PLAN: The Committee may from time
to time provide for the option and sale of up to but not exceeding an aggregate
of 3,200,000 shares of Common Stock, no par value per share, of the Corporation
which may consist in whole or in part of the authorized and unissued or
reacquired Common Stock of the Corporation. The Committee and the Board of
Directors may issue Nonqualified Options and Incentive Options, as well as both
of such options. Shares covered by canceled or expired options under the Plan
shall again be available for option and sale. Shares which are issued upon
exercise of options or which are withheld in payment of income tax withholding
shall again be available for reservation for the issuance of options but only to
the extent Reload Options are granted in such transaction.

                                       1
<PAGE>

     In the event that the outstanding Common Stock of the Corporation shall be
increased by a stock dividend or changed into or exchanged for a different
number or kind of shares of stock or other securities of the Corporation or of
another corporation, whether by reason of merger, consolidation,
recapitalization, reclassification, split-up, combination of shares or
otherwise, the number, price and kind of shares available for option and the
shares subject to any option shall be appropriately and equitably adjusted in
such manner as the Committee or the Board of Directors shall, in its discretion,
determine. The Committee or the Board of Directors shall have the power under
such conditions to accelerate the exercisability of any outstanding options.

     4. PARTICIPANTS: The Committee or the Board of Directors shall determine
and designate from time to time, in its discretion, those directors and key
management employees of the Corporation (or of any subsidiary in which the
Corporation owns more than 50% of the total combined voting power of all classes
of stock) to whom options are to be granted and who thereby become Participants
under the Plan. The term "key management employees" shall be construed to
include any and all key personnel (whether or not officers of the Corporation)
who may be so designated by the Committee for participation in the Plan.

     5. ALLOTMENT OF SHARES: The Committee or the Board of Directors shall
determine and fix the number of shares of stock to be offered to each
Participant; provided, that no Incentive Option may be granted under the Plan to
any one Participant which would result in his being able to exercise, for the
first time in any calendar year, an aggregate fair market value, determined as
of the date the option is granted, of underlying stock, which amount of
underlying stock includes all incentive stock options granted to that
Participant under any incentive stock option plan maintained by the Corporation,
exceeding $100,000.

     6. OPTION PRICE: The option price per share for options granted under the
Plan shall be determined by the Committee or the Board of Directors, as the case
may be, but shall not be less than: (i) with respect to an Incentive Option, the
fair market value of the stock on the date on which such option is granted;
provided, that with respect to an Incentive Option grant to an employee who at
the time of the grant owns (after applying the attribution rules of Section 424
of the Code) more than 10% of the total combined voting stock of the Corporation
or of any parent or subsidiary, the option price shall not be less than 110% of
the fair market value of the stock subject to the Incentive Option on the date
such option is granted; and (ii) with respect to a Nonqualified Option, such
percent of the fair market value of the stock on the date on which such option
is granted as shall be determined from time to time by the Committee or the
Board of Directors, as the case may be. Fair market value of a share shall be
determined by the Committee or the Board of Directors, as the case may be, and
shall mean, if the stock is publicly traded, the most recent quoted selling
price of the Corporation's stock on such date or if there are no sales, the
closing bid and asked prices of the Corporation's stock on such date, or if
there are no sales or reported bid and asked prices of the Corporation's Common
Stock on such date, on the next following day on which there are sales or quoted
prices.

     7. GRANTING AND EXERCISE OF OPTION: The granting of options hereunder shall
be effected in accordance with determinations made by the Committee or the Board
of Directors, as the case may be, pursuant to the provisions of the Plan, by
execution of instruments in writing in form approved by the Committee.

     At the time the option is granted, the Committee or the Board of Directors,
as the case may be, shall determine the date or dates upon which the option may
be exercised. Except as provided in Paragraphs 10 and 11, options may be
exercised only while the Participant is an employee or director, as the case may
be, of the Corporation or a subsidiary.

     Each option granted hereunder shall expire not more than 20 years from the
date of the granting thereof (10 years for Incentive Options); provided, that
with respect to an Incentive Option grant to an employee who at the time of the
grant owns (after applying the attribution rules of Section 424 of the Code)
more than 10% of the total combined voting stock of all classes of stock of the
Corporation or of any parent or subsidiary, such option shall expire not more
than five years after the date of granting thereof.

                                       2
<PAGE>

     8.  PAYMENT OF OPTION PRICE:

     (a) At the time of the exercise in whole or in part of any option granted
hereunder, payment in full in cash or, with the consent of the Committee or the
Board of Directors, in Common Stock of the Corporation, shall be made by the
Participant for all shares so purchased. No Participant shall have any of the
rights of a shareholder of the Corporation under any such option until the
actual issuance thereunder of shares to said Participant. The Committee or the
Board of Directors may, in its discretion, authorize the Corporation to lend
funds to a grantee in order to enable him to exercise his options. The terms of
the loan shall be in the discretion of the Committee.

     (b) Whenever a Participant holding any option outstanding under this Plan
(including Reload Options previously granted under this Section 8) exercises the
option and makes payment of the exercise price pursuant to this Section 8, in
whole or in part, by tendering Common Stock previously held by the Participant,
then the Corporation shall, in the sole discretion of the Board of Directors or
the Committee, grant to the Participant a Reload Option for the number of shares
of Common Stock that is equal to the number of shares tendered by the
Participant on payment of the exercise price of the option being exercised.

     (c) Subject to Section 6, above, the Reload Option exercise price per share
shall be an amount equal to the fair market value per share of the Corporation's
Common Stock, determined under Section 6, above, as of the date of receipt by
the Corporation of the notice by the Participant to exercise the option.

     (d) Subject to Section 6, above, the exercise period of the Reload Option
shall expire, and the Reload Option shall no longer be exercisable, on the later
to occur of (i) the expiration date of the originally surrendered option or (ii)
one year from the date of grant of the Reload Option.

     (e) Any Reload Option granted under this Section 8 shall vest immediately
upon grant under Section 8 (b), above.

     (f) All other terms of the Reload Options granted hereunder shall be
identical to the terms and conditions of the original option, the exercise of
which gave rise to the grant of the Reload Option.

     9.  NONTRANSFERABILITY OF OPTION: No option granted under the Plan to a
Participant shall be transferable by him otherwise than by will or the laws of
descent and distribution, and such option shall be exercisable during the
lifetime of the Participant only by the Participant or by his guardian or legal
representative in the event of disability. For purposes of this Paragraph 9,
"disability" shall mean mental or physical inability to carry out the option
holder's duties as an employee or director of the Corporation, as determined by
the Committee or the Board of Directors in its sole discretion. The Board of
Directors or the Committee may in its discretion waive the provisions of this
Section 9 to the extent permitted by the Code or the regulations promulgated
under Section 16(b) of the Exchange Act.

     10. DEATH OF PARTICIPANT: With regard to Incentive Options, in the event
that the employment of the Participant by the Corporation, or a subsidiary
thereof, is terminated by the death of the Participant, or in the event of the
death of the Participant within three months of the termination of his
employment, his option, to the extent that is exercisable by the Participant at
the date of his death, may be exercised within 12 months after the date of his
death, but in no event subsequent to the expiration date of the option, by the
legal representative of the Participant or the person or persons to whom the
rights of the Participant shall pass by will or by the laws of descent and
distribution.

     11. RETIREMENT OF PARTICIPANT: With respect to Incentive Options, unless
the Committee or the Board of Directors shall otherwise decide at the time of
his termination or in the terms of the grant, or the Code shall otherwise permit
for Incentive Options, in the event that a Participant shall cease to be
employed by the Corporation without having fully exercised any option, such
Participant shall have the right for a period of three months following the date
of such cessation of employment, but in no event subsequent to the expiration
date of the option, to exercise that portion of the option, if any, which is
exercisable by him at the date of the termination of his employment. Any options
not exercisable on such date of cessation of employment shall be extinguished
unless the

                                       3
<PAGE>

Committee or the Board of Directors shall otherwise decide at the time of such
termination, or the grant of the option shall have otherwise provided.

     12. CONTINUANCE OF EMPLOYMENT: The Committee or the Board of Directors may
require that any Participant under the Plan to whom an option shall be granted
shall agree in writing as a condition of the granting of such option to remain
in the employ of the Corporation or a subsidiary for a period of two years from
the date of the granting of such option, or for such other period as shall be
fixed by the Committee or the Board of Directors.

     Nothing contained in the Plan or in any option granted pursuant to the
Plan, nor any action taken by the Committee hereunder shall confer upon any
Participant any right with respect to continuation of employment by the
Corporation or a subsidiary nor interfere in any way with the right of the
Corporation or a subsidiary to terminate his employment at any time.

     13. SECURITIES ACT OF 1933: Unless a registration statement covering the
stock offered pursuant to the Plan is in effect under the Securities Act of
1933, as amended, all stock purchased upon the exercise of an option granted
hereunder shall be acquired for investment and not with a view to or for sale in
connection with any distribution thereof and each notice of the exercise of such
option shall be accompanied by a representation in writing signed by the
Participant or any other person exercising an option granted hereunder to the
effect in form satisfactory to the Committee. The Corporation may place a legend
upon any certificate representing shares purchased pursuant to exercise of an
option granted hereunder noting that the transfer of such shares may be
restricted under the Securities Act of 1933.

     14. WITHHOLDING PAYMENTS:

     (a) If upon the exercise of any option there shall be payable by the
Corporation any amount for income tax withholding, either the Participant shall
pay such amount to the Corporation in cash or the number of shares of Common
Stock delivered by the Corporation upon exercise of the Nonqualified Option
shall be appropriately reduced to reimburse the Corporation for payment. The
Committee or the Board of Directors shall have the authority to accept other
payment arrangements in its sole discretion.

     (b) Whenever shares of Common Stock instead of cash are used to pay income
tax withholding under Section 14(a), above, the Board of Directors or the
Committee in its sole discretion may grant Reload Options for the number of
withheld shares in accordance with the provisions of Sections 8(c) to 8(f),
above, applicable as appropriate to this Section 14(b).

     15. BOARD APPROVAL: No option granted under the Plan shall be exercisable
unless and until the Plan shall have been approved by the Board of Directors of
the Corporation as permitted under the laws of Florida.

     16. INTERPRETATION:

     (a) This Plan shall be administered and interpreted so that all Incentive
Stock Options granted under this Plan will qualify as Incentive Stock Options
under Section 422 of the Code. If any provision of this Plan should be held
invalid for the granting of Incentive Stock Options or illegal for any reason,
such determination shall not affect the remaining provisions hereof, and this
Plan shall be construed and enforced as if such provision had never been
included in this Plan.

     (b) With respect to persons subject to Section 16 of the Exchange Act,
transactions under this Plan are intended to comply with all applicable
conditions of Rule 16b-3 or its successors under the Exchange Act. To the extent
any term or provision of this Plan or any act or action by the Committee or the
Board of Directors fails to so comply, it shall be deemed null and void and of
no force or effect, to the extent deemed advisable by the Committee or the Board
of Directors. Moreover, in the event this Plan does not include a term or
provision required by Rule 16b-3 to be stated herein, such term or provision
(other than one relating to eligibility requirements, or the price and amount of
awards) shall be deemed automatically to be incorporated by reference into this
Plan insofar as participants subject to Section 16 of the Exchange Act are
concerned.

                                       4

<PAGE>

     (c) This Plan shall be governed by the laws of the State of Florida.

     (d) Headings contained in this Plan are for convenience only and shall in
no manner be construed as part of this Plan or affect the meaning or
interpretation of any part of this Plan.

     (e) Any reference to the masculine, feminine, or neuter gender shall be a
reference to such other gender as is appropriate.

     17. DURATION AND TERMINATION OF PLAN: No options may be granted hereunder
after June 30, 2009. The Plan may be abandoned or terminated at any time by the
Board of directors of the Corporation except with respect to any option
outstanding under the Plan upon the effective date of such termination.

     18. AMENDMENT: For the purpose of conforming to any changes in applicable
law or governmental regulations or for any other purpose which at the time may
be permitted by law, the Board of Directors of the Corporation, may, from time
to time, amend or revise the terms of this Plan, providing that no such
amendment or revision shall increase the maximum number of shares in the
aggregate which may be sold pursuant to Incentive Options granted under the
Plan, or change the minimum option prices set forth in Paragraph 6, or without
the consent of the holder thereof alter or impair any option previously granted
under the Plan.

                                       5