Document:

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                                                                     Exhibit 4.2

                            MRV COMMUNICATIONS, INC.

       2002 NONSTATUTORY STOCK OPTION PLAN FOR EMPLOYEES OF LUMINENT, INC.

                             STOCK OPTION AGREEMENT

        This AGREEMENT is made effective as of the ____ day of ___________, 2002
by and between MRV COMMUNICATIONS, INC. (the "Company") and __________
("Optionee").

                                    RECITALS

        WHEREAS, the Board of Directors of the Company has established the 2002
Nonstatutory Stock Option Plan For Employees Of Luminent, Inc. (the "Plan")
effective as of December 28, 2001 and

        WHEREAS, pursuant to the provisions of said Plan, the Board of Directors
or Compensation Committee of the Company, by action duly taken on December 28,
2001, granted to the Optionee an option or options (the "Option(s)") to purchase
shares of the Common Stock of the Company on the terms and conditions set forth
herein.

                                    AGREEMENT

        NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants set forth herein and other good and valuable consideration, the
receipt of which is hereby acknowledged, the parties hereto agree as follows:

        1. The Option(s). The Optionee may, at his/her option, purchase all or
any part of an aggregate of _______ shares of Common Stock (the "Optioned
Shares"), at the price of _______ per share (the "Option Price"), on the terms
and conditions set forth herein.

        2. Exercise Dates and Exercise. The Option(s) shall be exercisable as to
the specified number of Optioned Shares on and after the "First" dates, when
such Option(s) shall respectively accrue and become vested, and on or before the
"Last" dates (the "Option Expiration Date") set forth below:

                                    Number of Shares
                            -----------------------------
                             First                 Last
                            -------              --------
Number of Shares

        Optionee acknowledges that he (she) understands he (she) has no right
whatsoever to exercise the Option(s) granted hereunder with respect to any
Optioned Shares covered by any installment until such installment accrues and
vests as provided above. Optionee further understands that the Option(s) granted
hereunder shall expire and become unexercisable as provided in Section 3 below.

        This Option shall be deemed exercised as to the shares to be purchased
when written notice of such exercise has been given to the Company at its
principal business office by the Optionee with respect to the Common Stock to be
purchased. Such notice shall be accompanied by full payment in cash or cash
equivalents of the Option Price, or by such other form of payment authorized
under the Plan.

        3. Early Exercise and/or Termination

                (a) Notwithstanding the foregoing provisions of Section 2, in
the event the Company or the stockholders of the Company enter into an agreement
to dispose of all or substantially all of the assets or capital stock of the
Company by means of a sale, merger, consolidation, reorganization, liquidation,
or otherwise, Option shall become immediately exercisable with respect to the
full number of shares subject to this Option during the period commencing as of
the date of execution of such agreement and ending as of the earlier of:

                        (i) the Option Expiration Date; or

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                        (ii) the date on which the disposition of assets or
capital stock contemplated by the agreement is consummated. The exercise of any
Option made exercisable solely by reason of this Subsection 3(a) shall be
conditioned upon the consummation of the disposition of assets or stock under
the above referenced agreement. Upon the consummation of any such disposition of
assets or stock, any unexercised Options granted hereunder (or any unexercised
portion thereof) shall terminate and cease to be effective.

                (b) Notwithstanding the provisions set forth in Subsection 3(a),
in the event that any such agreement shall be terminated without consummating
the disposition of said stock or assets:

                        (i) any unexercised non-vested installments that had
become exercisable solely by reason of the provisions of Subsection 3(a) shall
again become non-vested and unexercisable as of said termination of such
agreement, and

                        (ii) the exercise of any option that had become
exercisable solely by reason of Subsection 3(a) shall be deemed ineffective and
such installments shall again become non-vested and unexercisable as of said
termination of such agreement.

                (c) Notwithstanding the provisions set forth in Subsection 3(a),
the Board or Compensation Committee may, at its election and subject to the
approval of the corporation purchasing or acquiring the stock or assets of the
Company (the "surviving corporation"), arrange for Optionee to receive upon
surrender of Optionee's Option a new option covering shares of the surviving
corporation in the same proportion, at an equivalent option price and subject to
the same terms and conditions as the old Option. For purposes of the preceding
sentence, the excess of the aggregate fair market value of the shares subject to
such new option immediately after consummation of such disposition of stock or
assets over the aggregate option price of such shares of the surviving
corporation shall not be more than the excess of the aggregate fair market value
of all shares subject to the old Option immediately before consummation of such
disposition of stock or assets over the aggregate Option Price of such shares of
the Company, and the new option shall not give the Optionee additional benefits
which such Optionee did not have under the old Option or deprive the Optionee of
benefits which the Optionee had under the old Option. If such substitution of
options is effectuated, the Optionee's rights under the old Option shall
thereupon terminate.

                (d) In the event that the Employment Agreement, Consulting
Agreement or employment between Luminent, Inc. and Optionee is terminated for
any reason other than death or disability, any unexercised Accrued Installments
of the Option granted hereunder to the terminated Optionee shall expire and
become unexercisable as of the earlier of, (i) the Option Expiration Date; or
(ii) a date 30 days after such termination occurs, provided however, that the
Board or Compensation Committee may, in the exercise of its discretion, extend
said date up to and including a date two years following such termination.

                (e) In the event that the Optionee's employment, consulting or
other arrangement with Luminent, Inc., the Company or an Affiliated Company is
terminated due to the death or disability of the Optionee, any unexercised
Accrued Installments of the Option granted hereunder to the Optionee shall
expire and become unexercisable as of the earlier of, (i) the Option Expiration
Date, or (ii) the first anniversary of the date of death of the Optionee (if
applicable); or (iii) the first anniversary of the date of the termination of
employment, consulting or other arrangement by reason of disability (if
applicable). Any such Accrued Installments of a deceased Optionee may be
exercised prior to his/her expiration by (and only by) the person or persons to
whom the Optionee's Option right shall pass by will or by the laws of descent
and distribution, if applicable, subject, however, to all of the terms and
conditions of the Plan and this Stock Option Agreement.

                                       2

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                (f) For purposes of this Section 3, an Optionee shall be deemed
employed by the Luminent, Inc., the Company or an Affiliated Company, during any
period of leave of absence from active employment as authorized by the Company
(or Affiliated Company).

        4. Representations and Warranties; Registration of Shares Underlying
Options. In the event the Optioned Shares have not been registered under the
Securities Act of 1933 at the time of the exercise of any portion of this
Option, as a condition to the exercise of any portion of this Option, the
Company may require the Optionee to make any representation and/or warranty to
the Company as may, in the judgment of counsel to the Company, be required under
any applicable law or regulation, including but not limited to a representation
and warranty that the shares are being acquired only for investment purposes and
without any present intention to sell or distribute such shares if, in the
opinion of counsel for the Company, such a representation is required under the
Securities Act of 1933 or any other applicable law, regulation or rule of any
governmental agency. Optionee hereby represents to the Company that each of the
Options evidenced hereby and the shares purchasable upon exercise thereof are
being acquired only for investment purposes and without any present intention to
sell or distribute such securities.

        5. Options Not Transferable. The Option(s) may be exercised during the
lifetime of the Optionee only by the Optionee. The Optionee's rights and
interests under this Agreement and in and to the Option(s) may not be sold,
pledged, hypothecated, assigned, encumbered, gifted or otherwise transferred in
any manner, either voluntarily or involuntarily by operation of law, except by
will or the laws of descent and distribution (collectively referred to herein as
a "Transfer"), and may be exercised during the lifetime of an Optionee only by
such Optionee; provided, that by a resolution adopted hereafter, the Board or
Compensation Committee may, on such terms and conditions as it may determine to
be appropriate, permit the Options to be Transferred if, at the time of such
Transfer, a registration statement under the Securities Act of 1933 of the
shares issuable upon exercise of this Option is then permitted through the use
of Form S-8 or similar successor Form.

        6. No Enlargement of Employee Rights. If Optionee is employed by the
Luminent, the Company, or an Affiliated Company, nothing in this Agreement shall
be construed to confer upon the Optionee any right to continued employment with
the Luminent, the Company or an Affiliated Company or to restrict in any way the
right of the Luminent, the Company or an Affiliated Company, to terminate his
(her) employment subject to the terms of any applicable agreement (including the
Employment Agreement). Optionee acknowledges that in the absence of an express
written employment agreement to the contrary, Optionee's employment with
Luminent, the Company or an Affiliated Company, may be terminated by the
applicable entity at any time, with or without cause.

        7. Withholding of Taxes. Optionee authorizes the Company to withhold, in
accordance with any applicable law, from any amounts payable to Optionee any
taxes required to be withheld by federal, state or local law as a result of the
grant of the Option(s) or the issuance of stock pursuant to the exercise of such
Option(s).

        8. Laws Applicable to Construction; Choice of Jurisdiction and Forum.
This Agreement shall be construed and enforced in accordance with the laws of
the State of Delaware, without reference to the conflict of laws provisions of
any jurisdiction.

        9. Agreement Binding on Successors. The terms of this Agreement shall be
binding upon the executors, administrators, heirs, successors, transferees and
assignees of the Optionee.

        10. Costs of Litigation. In any action at law or in equity to enforce
any of the provisions or rights under this Agreement or the Plan, the
unsuccessful party to such litigation, as determined by the court in a final
judgment or decree, shall pay the successful party or parties all costs,
expenses and reasonable attorneys' fees incurred by the successful party or
parties (including without limitation costs, expenses end fees on any appeals),
and if the successful party recovers judgment in any such action or proceeding
such costs, expenses and attorneys' fees shall be included as part of the
judgment.

        11. Necessary Acts. The Optionee agrees to perform all acts and execute
and deliver any documents that may be reasonably necessary to carry out the
provisions of this Agreement, including but not limited to all acts and
documents related to compliance with federal and/or state securities laws.

        12. Counterparts. For convenience this Agreement may be executed in any
number of identical counterparts, each of which shall be deemed a complete
original in itself and may be introduced in evidence or used for any other
purpose without the production of any other counterparts.

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        13. Invalid Provisions. In the event that any provision of this
Agreement is found to be invalid or otherwise unenforceable under any applicable
law, such invalidity or unenforceability shall not be construed as rendering any
other provisions contained herein invalid or unenforceable, and all such other
provisions shall be given full force and effect to the same extent as though the
invalid and unenforceable.provision was not contained herein.

        14. Adjustments upon Changes in Capitalization. If the outstanding
shares of Common Stock of the Company are increased, decreased, changed into or
exchanged for a different number or kind of shares of the Company through
reorganization, recapitalization, reclassification, stock dividend, stock split
or reverse stock split, then an appropriate and proportionate adjustment shall
be made in the number or kind of shares which may be issued upon exercise of the
Options granted under this Agreement.

        IN WITNESS WHEREOF, the Company and the Optionee have executed this
Agreement effective as of the date first written above.

        The Company                          Optionee

        MRV COMMUNICATIONS, INC.

        _________________________________    ___________________________________
        By: _____________________________    Print Name
        Its: ____________________________    ___________________________________

        MRV COMMUNICATIONS, INC.             Address: __________________________
        20415 Nordhoff Street                ___________________________________
        Chatsworth, California 91311         ___________________________________

                                       4<PAGE>

                                                                     EXHIBIT 4.4

                        EXCHANGE AND REPAYMENT AGREEMENT

         By this Agreement dated as of January 31, 2002, the undersigned parties
agree as follows:

 RECITALS

         The parties entered into a Merger Agreement and Plan of Reorganization
("Merger Agreement") dated December 15, 2000, and related agreements
(collectively with the Merger Agreement, the "Transaction Agreements"). All
capitalized terms not otherwise defined in this agreement shall have the same
meaning or definition as in the Merger Agreement.

         The Shareholders acquired common stock, Series B Preferred Stock and
Series C Preferred Stock (collectively, "Capital Stock") of National Auto
Credit, Inc. ("NAC"). The Series B Preferred Stock was subsequently converted by
its terms to common stock. By this Agreement, the Shareholders, including Ernest
C. Garcia ("Garcia"), agree to transfer all of the Capital Stock owned by them
back to NAC in satisfaction of a contingent obligation set forth in the Merger
Agreement. Now, therefore, the parties hereby agree as follows:

         1. The parties agree with the decision of management of NAC and New
ZoomLot to terminate the business and operations of, and wind up, New ZoomLot,
and that the First Objective and Second Objective have not and will not be met.
Accordingly, all Forfeitable Shares are deemed forfeited and are being returned
and surrendered to NAC simultaneously with the execution of this agreement.

         2. The parties agree that pursuant to its terms, the Series C Preferred
Stock constitutes a liability of NAC in the amount of $935,700 that would become
due on December 31, 2003, and that the discounted current value of the Series C
Stock as of the date hereof is $854,875.

         3. Pursuant to Section 1.12 of the Merger Agreement, certain
Shareholders and Garcia are contingently liable to NAC for repayment of the
"Cygnet Payable", as that term is defined in the Merger Agreement. The parties
agree that the amount that Garcia is contingently liable to repay to NAC
pursuant to Section 1.12 of the Merger Agreement as of the date hereof is
$5,690,335 (the "Repayment").

         4. In full satisfaction all obligations of Cygnet and the Garcia
Shareholders to make the Repayment:

                  a.       Garcia and/or the Garcia Shareholders hereby convey
                           and transfer to NAC 2,077,004 shares of NAC common
                           stock, at a mutually agreed upon value of $1.25 per
                           share, or $2,596,255 in the aggregate, together with
                           duly executed stock powers. The Shareholders other
                           than Garcia and/or the Garcia Shareholders hereby
                           agree to deliver

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                           and convey to NAC, within five (5) days from the date
                           hereof, 1,002,526 shares of NAC common stock, at a
                           mutually agreed value of $1.25 per share, or
                           $1,253,157 in the aggregate, together with duly
                           executed stock powers.

                  b.       Garcia and/or the Garcia Shareholders hereby convey
                           and transfer to NAC 39,299 shares of NAC Series C
                           Stock at a mutually agreed value of $538,566 in the
                           aggregate, together with duly executed stock powers.
                           The Shareholders other than Garcia and/or the Garcia
                           Shareholders hereby agree to deliver and convey to
                           NAC, within five (5) days from the date hereof,
                           23,081 shares of NAC Series C Stock, at a mutually
                           agreed value of $316,309 in the aggregate, together
                           with duly executed stock powers.

                  c.       As a consequence of and subject to the timely
                           transfers set forth in paragraphs 4(a) and 4(b)
                           hereof, the balance of the Repayment due to NAC shall
                           be $986,048. Garcia agrees to repay the foregoing
                           balance of the Repayment obligation on or before
                           January 30, 2003, together with interest thereon at
                           4% per annum through the date of repayment, in cash
                           or in NAC common stock at the agreed value of $1.25
                           per share, or a combination of cash and NAC common
                           stock. In the event that the Shareholders other than
                           Garcia or the Garcia Shareholders fail to timely
                           convey NAC capital stock as required by Section 4(a)
                           or 4(b) above, then the amount due by Garcia
                           hereunder shall be increased to the extent of such
                           default.

         5.       Each party represents and warrants to the other party that:

                  a.       The party has the requisite power and authority to
                           enter into and perform all of such party's
                           obligations under this Agreement.

                  b.       This Agreement has been duly and validly executed and
                           delivered by the party and constitutes the valid and
                           binding agreement of such party, enforceable against
                           it in accordance with its terms (except that
                           enforceability may be subject to bankruptcy or
                           similar laws, or principles of equity). No broker or
                           similar person is entitled to any fee or commission
                           on behalf of such party arising out of this
                           Agreement.

         6.       NAC represents and warrants that it has adopted the
                  resolutions annexed hereto as Exhibit A with respect to
                  exempting Garcia from the provisions of Section 16(b) of the
                  Securities Exchange Act as to NAC securities transferred to
                  NAC pursuant to this agreement. NAC is not currently aware of
                  any claims against Garcia arising out of the Merger Agreement,
                  and Garcia is not aware of any claims against NAC arising out
                  of the Merger Agreement (other

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                  than for the indemnification of Garcia under Section 7.3(a) in
                  connection with currently pending or threatened lawsuits
                  arising out of the Merger Agreement).

         7.       In the event any third party should assert any action in the
                  name of or on behalf of NAC against Garcia on account of any
                  actual or alleged illegality or impropriety of this agreement
                  or the consummation of the transactions contemplated hereby,
                  other than on account of any breach or misrepresentation by
                  Garcia or the Garcia Shareholders hereunder, NAC agrees that
                  it will bear the reasonable legal defense costs (i.e.,
                  reasonable attorney's fees and disbursements, and expert
                  witness fees and expert witness costs) arising from the
                  defense of such claims, provided that such legal defense is
                  provided by the same law firm that is also representing NAC or
                  NAC's directors in connection with such defense. Garcia agrees
                  to execute such conflict waivers as the law firm may
                  reasonably require. In the event such law firm determines that
                  it cannot represent Garcia, or in the event Garcia determines
                  to engage defense counsel of his own choosing to defend such
                  claims as a result of NAC's counsel, or NAC's directors'
                  counsel's, failure to competently represent him, he may engage
                  counsel of own choosing, provided such counsel is reasonably
                  satisfactory to NAC, and NAC shall bear the reasonable
                  attorney's fees incurred by Garcia. NAC shall not have either
                  the authority or the obligation to settle any such claims
                  asserted against Garcia or the Shareholders.

         8.       NAC, Garcia, and the Garcia Shareholders hereby agree that
                  upon the delivery to NAC of the NAC Securities described in
                  paragraphs 4(a) and 4(b) hereof, the Registration Rights
                  Agreement and the Lock-Up, Standstill and Voting Agreement are
                  deemed terminated and all rights, obligations and claims
                  arising under those agreements are deemed released.

         9.       Subject to the timely delivery to NAC of the NAC Securities
                  described in paragraphs 4(a) and 4(b) hereof, on May 03, 2002,
                  all rights, obligations and claims arising under the Merger
                  Agreement are deemed terminated and released, except for (1)
                  claims arising under the Merger Agreement that are asserted by
                  one party against the other prior to May 3, 2002; and (2) the
                  right of indemnity set forth in the final sentence of Section
                  7.3(a) of the Merger Agreement.

         10.      Garcia and the Garcia Shareholders represent and warrant that
                  they own (or will own at the time of transfer to NAC) the
                  shares of Capital Stock to be transferred hereunder, free and
                  clear of all liens, security interests or claims.

         11.      This Agreement constitutes the entire agreement with respect
                  to the subject matter hereof and supersedes all other prior or
                  contemporaneous agreements, written or oral, among the
                  parties.

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                  This Agreement shall be binding upon the successors and
                  assigns, heirs and legatees of the parties. This Agreement
                  shall be governed by and construed in accordance with the laws
                  of the State of Delaware, without giving effect to conflict of
                  law principles thereof. Each party shall bear its own costs
                  and expenses in connection with the negotiation of this
                  Agreement. This Agreement may be executed in two or more
                  counterparts each of which shall be deemed an original, but
                  all of which shall constitute one and the same instrument.

<PAGE>

         IN WITNESS WHEREOF, the undersigned parties have executed this
Agreement as of the date set forth above.

                                    NATIONAL AUTO CREDIT, INC., a Delaware
                                    corporation

                                    By:     /s/ James J. McNamara
                                            -----------------------------------
                                            Name: James J. McNamara
                                            Title: Chief Executive Officer

                                    CYGNET CAPITAL CORPORATION, an Arizona
                                    corporation

                                    By:     /s/ Steven P. Johnson
                                            -----------------------------------
                                            Name: Steven P. Johnson
                                            Title:  Vice President and Secretary

                                    VERDE REINSURANCE COMPANY, LTD., a Nevis
                                    Island corporation

                                    By:     /s/ Ernest C. Garcia, II
                                            -----------------------------------
                                            Name: Ernest C. Garcia, II
                                            Title: Managing Director

                                    ERNIE GARCIA III 2000 TRUST

                                    By:     /s/ Steven P. Johnson
                                            -----------------------------------
                                            Name: Steven P. Johnson
                                            Title:  Trustee

                                    BRIAN GARCIA 2000 TRUST

                                    By:     /s/ Steven P. Johnson
                                            -----------------------------------
                                            Name: Steven P. Johnson
                                            Title:  Trustee

<PAGE>

                                   EJMS INVESTORS LIMITED PARTNERSHIP,
                                   an Arizona limited partnership

                                   By: SMJE INVESTORS, LLC,  an Arizona limited
                                   liability company, the General Partner

                                   By: /s/ Eric Splaver
                                       ----------------------------------------
                                       Name: Eric Splaver
                                       Title: Managing Member

                                       /s/ Ernest C. Garcia, II
                                       ----------------------------------------
                                       ERNEST C. GARCIA, II

                                       /s/ Ray Fidel
                                       ----------------------------------------
                                       RAY FIDEL

                                       /s/ Steven P. Johnson
                                       ----------------------------------------
                                       STEVEN P. JOHNSON

                                       /s/ Mark Sauder
                                       ----------------------------------------
                                       MARK SAUDER

                                       /s/ Colin Bachinsky
                                       ----------------------------------------
                                       COLIN BACHINSKY

                                       /s/ Chris Rompalo
                                       ----------------------------------------
                                       CHRIS ROMPALO

                                       /s/ Donna Clawson
                                       ----------------------------------------
                                       DONNA CLAWSON

                                       /s/ Mary Reiner
                                       ----------------------------------------
                                       MARY REINER

                                       /s/ Kathy Chacon
                                       ----------------------------------------
                                       KATHY CHACON

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