Document:

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                                                                     EXHIBIT 4.5

                          [NeoTherapeutics Letterhead]

                                                                     May 1, 2000

Royal Canadian Growth Fund
c/o Royal Bank Investment Management, Inc.
77 King St. West
Royal Trust Tower, Suite 3800
Toronto, Ontario  M5K 1H1
Attention: Eden Rahim

         Re:      NEOTHERAPEUTICS, INC. (THE "COMPANY").

Gentlemen:

         Reference is made to the Securities Purchase Agreement dated as of
April 28, 2000, (the "AGREEMENT"), by and between the Company and the Royal
Canadian Growth Fund (the "PURCHASER").

         The Company and the Purchaser hereby agree that notwithstanding
anything to the contrary contained in the Agreement, the warranties,
representations and covenants of the Company and the Purchaser contained in or
made pursuant to this Agreement shall survive the execution and delivery of the
Agreement and the Closing (as defined in the Agreement) until the later of
eighteen (18) months following the Closing and the earliest date after the
Closing on which the Purchaser owns of record fewer than 250,000 shares of the
Company's common stock; provided, however, that in no event shall such
representations and warranties survive beyond the applicable statutory
limitation; and provided, further, that such representations and warranties are
only made as of the date of such execution and delivery and as of such Closing.

         Except as expressly provided in the preceding paragraph, the Agreement
remains in full force and effect in accordance with their terms.

         This letter shall be governed by and construed and enforced in
accordance with the internal laws of the State of California, without regard to
the principles of conflicts of law thereof. This letter may be executed in two
or more counterparts, all of which when taken together shall be considered one
and the same agreement and shall become effective when counterparts have been
signed by each party and delivered to the other party, it being understood that
both parties need not sign the same counterpart. In the event that any signature
is delivered by facsimile transmission, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is
executed) the same with the same force and effect as if such facsimile signature
page were an original thereof.

         Please indicate your agreement with the foregoing by executing a
countersigned copy of this letter and returning the same to our attention,
whereupon effective immediately thereafter this letter shall become a legally
valid and binding agreement between the Purchasers and the Company.

<PAGE>

         NEOTHRAPEUTICS, INC.

By:      /s/ Samuel Gulko
         ---------------------------
         Samuel Gulko
         Chief Financial Officer

Agreed and accepted
May 2, 2000

         ROYAL CANADIAN GROWTH FUND

         By:      /s/ Eden Rahim
                  --------------------------
         Name:    Eden Rahim
                  --------------------------
         Title:   Portfolio Manager
                  --------------------------<PAGE>

                                                                  [LOGO]
                                                             VALLEY MEDIA, INC.
                                                                   EXHIBIT 10.1

                                                          FOR IMMEDIATE RELEASE
                                                          ---------------------

           ROBERT CAIN TO STEP DOWN AS CEO OF VALLEY MEDIA, INC.

     FOUNDER AND CHAIRMAN BARNET J. COHEN TO ASSUME INTERIM CEO ROLE
                    SEARCH FOR PERMANENT CEO UNDERWAY

WOODLAND, CA - MAY 17th, 2000 - Valley Media, Inc. (Nasdaq: VMIX), a
recognized leader in the full-line distribution of music and video
entertainment products, today announced that its Board of Directors has
accepted the resignation of Robert Cain as President and Chief Executive
Officer effective immediately. Barnet Cohen, Chairman of the Board and
founder of Valley Media, will serve as interim CEO while the Board conducts a
search for a new chief executive.

"For the past nine years I have had an active role in building and managing
Valley Media, as the Company has evolved," said Robert Cain. "At this
juncture, I feel it is the right time to pursue other challenges and
opportunities."

"We thank Rob for his contributions and dedication to Valley Media and we
wish him all the best in his next endeavors," said Barnet Cohen, Chairman of
the Board. "As the founder of Valley Media, I can proudly look back on the
Company's tremendous history and say that we're well positioned for an even
more successful future."

                                       3
<PAGE>

Valley Media is a distributor of music, video and DVD product offering
Full-line distribution, Independent distribution, publications, and
proprietary database products. The Company provides fulfillment services for
eCommerce in coordination with its affiliate, amplified.com. Valley Media
operates facilities in seven states with primary distribution facilities in
Louisville, KY, and Woodland, CA, where its corporate headquarters are
located. Additional information concerning Valley Media is available at
www.valley-media.com.
--------------------

This press release contains forward-looking statements made pursuant to the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These statements are identified by words such as "will", "expects",
"anticipates", "plans", or "intends" and by other descriptions of future
circumstances or conditions. Actual results may differ materially from those
projected in these forward-looking statements. Factors that could affect
Valley Media's actual results include, without limitation, risks and
uncertainties related to the following factors: intense competition,
declining rates of Internet sales, customer concentration, increased fixed
costs and tighter labor markets. More information about these and other
factors that could negatively affect Valley Media's financial performance and
the value of its common stock is contained in Valley Media's filings with the
Securities and Exchange Commission, including its Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q. Readers of the 10-K and 10-Qs should pay
particular attention to the sections entitled "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and "Factors
Affecting Operating Results."

                                ###

CONTACT:
         PAIGE DICKOW, SENIOR VICE PRESIDENT, ADMINISTRATION & ORGANIZATION
         EFFECTIVENESS
         Valley Media, Inc.
         530.661.6600
         e-mail: pzd@valley-media.com

                                       4<PAGE>

                                                                    Exhibit 10.1

                               ACCOUNT4.COM, INC.

                        2000 EMPLOYEE STOCK PURCHASE PLAN

ARTICLE 1 - PURPOSE.

         This 2000 Employee Stock Purchase Plan (the "PLAN") is intended to
encourage stock ownership by all eligible employees of Account4.com, Inc. (the
"COMPANY"), a Delaware corporation, and its participating subsidiaries (as
defined in Article 17) so that they may share in the growth of the Company by
acquiring or increasing their proprietary interest in the Company. The Plan is
designed to encourage eligible employees to remain in the employ of the Company
and its participating subsidiaries. The Plan is intended to constitute an
"employee stock purchase plan" within the meaning of Section 423(b) of the
Internal Revenue Code of 1986, as amended (the "Code").

ARTICLE 2 - ADMINISTRATION OF THE PLAN.

         The Plan may be administered by a committee appointed by the Board of
Directors of the Company (the "COMMITTEE"). The Board of Directors may from time
to time remove members from, or add members to, the Committee. Vacancies on the
Committee, howsoever caused, shall be filled by the Board of Directors. The
Committee may select one of its members as Chairman, and shall hold meetings at
such times and places as it may determine. Acts by a majority of the Committee,
or acts reduced to or approved in writing by a majority of the members of the
Committee, shall be the valid acts of the Committee.

         The interpretation and construction by the Committee of any provisions
of the Plan or of any right granted under it shall be final, unless otherwise
determined by the Board of Directors. The Committee may from time to time adopt
such rules and regulations for carrying out the Plan as it may deem best,
provided that any such rules and regulations shall be applied on a uniform basis
to all employees under the Plan. No member of the Board of Directors or the
Committee shall be liable for any action or determination made in good faith
with respect to the Plan or any right granted under it.

         In the event the Board of Directors fails to appoint or refrains from
appointing a Committee, the Board of Directors shall have all power and
authority to administer the Plan. In such event, the word "Committee" wherever
used herein shall be deemed to mean the Board of Directors.

ARTICLE 3 - ELIGIBLE EMPLOYEES.

         All employees of the Company or any of its participating subsidiaries
who have completed at least ninety (90) days of employment and whose customary
employment is more

                                      -1-
<PAGE>

than 20 hours per week and for more than three (3) months in any calendar year
shall be eligible to receive rights under the Plan to purchase common stock of
the Company, and all eligible employees shall have the same rights and
privileges hereunder. Persons who are eligible employees on the first business
day of any Payment Period (as defined in Article 5) shall receive their rights
as of such day. Persons who become eligible employees after any date on which
rights are granted under the Plan shall be granted rights on the first day of
the next succeeding Payment Period on which rights are granted to eligible
employees under the Plan. In no event, however, may an employee be granted a
right if such employee, immediately after the right was granted, would be
treated as owning stock possessing five percent or more of the total combined
voting power or value of all classes of stock of the Company or of any parent
corporation, or subsidiary corporation, as the terms "parent corporation" and
"subsidiary corporation" are defined in Section 424(e) and (f) of the Code. For
purposes of determining stock ownership under this paragraph, the rules of
Section 424(d) of the Code shall apply, and stock which the employee may
purchase under outstanding rights shall be treated as stock owned by the
employees.

ARTICLE 4 - STOCK SUBJECT TO THE PLAN.

         The stock subject to the rights under the Plan shall be shares of the
Company's authorized but unissued common stock, par value $.01 per share (the
"COMMON STOCK"), or shares of Common Stock reacquired by the Company, including
shares purchased in the open market. The aggregate number of shares of Common
Stock which may be issued pursuant to the Plan is 250,000, subject to adjustment
as provided in Article 12. If any right granted under the Plan shall expire or
terminate for any reason without having been exercised in full or shall cease
for any reason to be exercisable in whole or in part, the unpurchased shares
subject thereto shall again be available under the Plan.

ARTICLE 5 - PAYMENT PERIOD AND STOCK RIGHTS.

         The first Payment Period during which payroll deductions will be
accumulated under the Plan shall commence on the later to occur of July 1, 2000
and the first day of the first calendar month following effectiveness of the
Form S-8 registration statement filed with the Securities and Exchange
Commission covering the shares to be issued pursuant to the Plan and shall end
on December 31, 2000. For the remainder of the duration of the Plan, Payment
Periods shall consist of the six-month periods commencing on January 1 and July
1 and ending on June 30 and December 31 of each calendar year.

         Twice each year, on the first business day of each Payment Period, the
Company will grant to each eligible employee who is then a participant in the
Plan a right to purchase on the last day of such Payment Period, at the Price
hereinafter provided for, a maximum of [five hundred (500)] shares, on condition
that such employee remains eligible to participate in the Plan throughout the
remainder of such Payment Period. The participant shall be entitled to exercise
the right so granted only to the extent of the participant's accumulated payroll
deductions on the

                                      -2-
<PAGE>

last day of such Payment Period. If the participant's accumulated payroll
deductions on the last day of the Payment Period would enable the participant to
purchase more than [five hundred (500)] shares except for the [five hundred
(500)]-share limitation, the excess of the amount of the accumulated payroll
deductions over the aggregate purchase price of the [five hundred (500)] shares
shall be promptly refunded to the participant by the Company, without interest.
The price per share (the "PRICE") for each Payment Period shall be the lesser of
(i) 85% of the average market price of the Common Stock on the first business
day of the Payment Period and (ii) 85% of the average market price of the Common
Stock on the last business day of the Payment Period, in either event rounded up
to the nearest cent. The foregoing limitation on the number of shares subject to
right and the Price shall be subject to adjustment as provided in Article 12.

         For purposes of the Plan, the term "average market price" on any date
means (i) the average (on that date) of the high and low prices of the Common
Stock on the principal national securities exchange on which the Common Stock is
traded, if the Common Stock is then traded on a national securities exchange; or
(ii) the last reported sale price (on that date) of the Common Stock on the
Nasdaq National Market, if the Common Stock is not then traded on a national
securities exchange; or (iii) the average of the closing bid and asked prices
last quoted (on that date) by an established quotation service for
over-the-counter securities, if the Common Stock is not reported on the Nasdaq
National Market; or (iv) if the Common Stock is not publicly traded, the fair
market value of the Common Stock as determined by the Committee after taking
into consideration all factors which it deems appropriate, including, without
limitation, recent sale and offer prices of the Common Stock in private
transactions negotiated at arm's length.

         For purposes of the Plan, the term "business day" means a day on which
there is trading on the Nasdaq National Market or the aforementioned national
securities exchange, whichever is applicable pursuant to the preceding
paragraph; and if neither is applicable, a day that is not a Saturday, Sunday or
legal holiday in State of Connecticut.

         No employee shall be granted an right which permits the employee's
right to purchase stock under the Plan, and under all other Section 423(b)
employee stock purchase plans of the Company and any parent or subsidiary
corporations, to accrue at a rate which exceeds $25,000 of fair market value of
such stock (determined on the date or dates that rights on such stock were
granted) for each calendar year in which such right is outstanding at any time.
The purpose of the limitation in the preceding sentence is to comply with
Section 423(b)(8) of the Code. If the participant's accumulated payroll
deductions on the last day of the Payment Period would otherwise enable the
participant to purchase Common Stock in excess of the Section 423(b)(8)
limitation described in this paragraph, the excess of the amount of the
accumulated payroll deductions over the aggregate purchase price of the shares
actually purchased shall be promptly refunded to the participant by the Company,
without interest.

ARTICLE 6 - EXERCISE OF RIGHT.

         Each eligible employee who continues to be a participant in the Plan on
the last day of a

                                      -3-
<PAGE>

Payment Period shall be deemed to have exercised his or her right on such date
and shall be deemed to have purchased from the Company such number of full
shares of Common Stock reserved for the purpose of the Plan as the participant's
accumulated payroll deductions on such date will pay for at the Price, subject
to the [five hundred (500)]-share limit of the right and the Section 423(b)(8)
limitation described in Article 5. If the individual is not a participant on the
last day of a Payment Period, then he or she shall not be entitled to exercise
his or her right. Only full shares of Common Stock may be purchased under the
Plan. Unused payroll deductions remaining in a participant's account at the end
of a Payment Period by reason of the inability to purchase a fractional share
shall be carried forward to the next Payment Period.

ARTICLE 7 - AUTHORIZATION FOR ENTERING THE PLAN.

         An employee may elect to enter the Plan by filling out, signing and
delivering to the Company an authorization:

                  A.       Stating the percentage to be deducted regularly from
                           the employee's pay;

                  B.       Authorizing the purchase of stock for the employee in
                           each Payment Period in accordance with the terms of
                           the Plan; and

                  C.       Specifying the exact name or names in which stock
                           purchased for the employee is to be issued as
                           provided under Article 11 hereof.

Such authorization must be received by the Company at least ten days before the
first day of the next succeeding Payment Period and shall take effect only if
the employee is an eligible employee on the first business day of such Payment
Period.

         Unless a participant files a new authorization or withdraws from the
Plan, the deductions and purchases under the authorization the participant has
on file under the Plan will continue from one Payment Period to succeeding
Payment Periods as long as the Plan remains in effect.

         The Company will accumulate and hold for each participant's account the
amounts deducted from his or her pay. No interest will be paid on these amounts.

ARTICLE 8 - MAXIMUM AMOUNT OF PAYROLL DEDUCTIONS.

         An employee may authorize payroll deductions in an amount (expressed as
a whole percentage) not less than one percent (1%) but not more than ten percent
(10%) of the employee's total compensation, including base pay or salary and any
overtime, bonuses or commissions.

                                      -4-
<PAGE>

ARTICLE 9 - CHANGE IN PAYROLL DEDUCTIONS.

         Deductions may not be increased or decreased during a Payment Period.
However, a participant may withdraw in full from the Plan.

ARTICLE 10 - WITHDRAWAL FROM THE PLAN.

         A participant may withdraw from the Plan (in whole but not in part) at
any time prior to the last day of a Payment Period by delivering a withdrawal
notice to the Company.

         To re-enter the Plan, an employee who has previously withdrawn must
file a new authorization at least ten days before the first day of the next
Payment Period in which he or she wishes to participate. The employee's re-entry
into the Plan becomes effective at the beginning of such Payment Period,
provided that he or she is an eligible employee on the first business day of the
Payment Period.

ARTICLE 11 - ISSUANCE OF STOCK.

         Certificates for stock issued to participants shall be delivered as
soon as practicable after each Payment Period by the Company's transfer agent.

         Stock purchased under the Plan shall be issued only in the name of the
participant, or if the participant's authorization so specifies, in the name of
the participant and another person of legal age as joint tenants with rights of
survivorship.

ARTICLE 12 - ADJUSTMENTS.

         Upon the happening of any of the following described events, a
participant's rights under any rights granted under the Plan shall be adjusted
as hereinafter provided:

                  A.       In the event that the shares of Common Stock shall be
                           subdivided or combined into a greater or smaller
                           number of shares or if, upon a reorganization,
                           split-up, liquidation, recapitalization or the like
                           of the Company, the shares of Common Stock shall be
                           exchanged for other securities of the Company, each
                           participant shall be entitled, subject to the
                           conditions herein stated, to purchase such number of
                           shares of Common Stock or amount of other securities
                           of the Company as were exchangeable for the number of
                           shares of Common Stock that such participant would
                           have been entitled to purchase except for such
                           action, and appropriate adjustments shall be made in
                           the purchase price per share to reflect such
                           subdivision, combination or exchange; and

                                      -5-
<PAGE>

                  B.       In the event the Company shall issue any of its
                           shares as a stock dividend upon or with respect to
                           the shares of stock of the class which shall at the
                           time be subject to right hereunder, each participant
                           upon exercising such an right shall be entitled to
                           receive (for the purchase price paid upon such
                           exercise) the shares as to which the participant is
                           exercising his or her right and, in addition thereto
                           (at no additional cost), such number of shares of the
                           class or classes in which such stock dividend or
                           dividends were declared or paid, and such amount of
                           cash in lieu of fractional shares, as is equal to the
                           number of shares thereof and the amount of cash in
                           lieu of fractional shares, respectively, which the
                           participant would have received if the participant
                           had been the holder of the shares as to which the
                           participant is exercising his or her right at all
                           times between the date of the granting of such right
                           and the date of its exercise.

         Upon the happening of any of the foregoing events, the class and
aggregate number of shares set forth in Article 4 hereof which are subject to
rights which have been or may be granted under the Plan and the limitations set
forth in the second paragraph of Article 5 shall also be appropriately adjusted
to reflect the events specified in paragraphs A and B above. Notwithstanding the
foregoing, any adjustments made pursuant to paragraphs A or B shall be made only
after the Committee, based on advice of counsel for the Company, determines
whether such adjustments would constitute a "modification" (as that term is
defined in Section 424 of the Code). If the Committee determines that such
adjustments would constitute a modification, it may refrain from making such
adjustments.

         If the Company is to be consolidated with or acquired by another entity
in a merger, a sale of all or substantially all of the Company's assets or
otherwise (an "ACQUISITION"), the Committee or the board of directors of any
entity assuming the obligations of the Company hereunder (the "SUCCESSOR BOARD")
shall, with respect to rights then outstanding under the Plan, either (i) make
appropriate provision for the continuation of such rights by arranging for the
substitution on an equitable basis for the shares then subject to such rights
either (a) the consideration payable with respect to the outstanding shares of
the Common Stock in connection with the Acquisition, (b) shares of stock of the
successor corporation, or a parent or subsidiary of such corporation, or (c)
such other securities as the Successor Board deems appropriate, the fair market
value of which shall not materially exceed the fair market value of the shares
of Common Stock subject to such rights immediately preceding the Acquisition; or
(ii) terminate each participant's rights in exchange for a cash payment equal to
the excess of (a) the fair market value on the date of the Acquisition, of the
number of shares of Common Stock that the participant's accumulated payroll
deductions as of the date of the Acquisition could purchase, at a price
determined with reference only to the first business day of the applicable
Payment Period and subject to the [five hundred (500)] share limit, Code Section
423(b)(8) and fractional-share limitations on the amount of stock a participant
would be entitled to purchase, over (b) the result of multiplying such number of
shares by such right price.

                                      -6-
<PAGE>

         The Committee or Successor Board shall determine the adjustments to be
made under this Article 12, and its determination shall be conclusive.

ARTICLE 13 - NO TRANSFER OR ASSIGNMENT OF EMPLOYEE'S RIGHTS.

         A right granted under the Plan may not be transferred or assigned and
may be exercised only by the participant.

ARTICLE 14 - TERMINATION OF EMPLOYEE'S RIGHTS.

         Whenever a participant ceases to be an eligible employee because of
retirement, voluntary or involuntary termination, resignation, layoff,
discharge, death or for any other reason, his or her rights under the Plan shall
immediately terminate, and the Company shall promptly refund, without interest,
the entire balance of his or her payroll deduction account under the Plan.
Notwithstanding the foregoing, eligible employment shall be treated as
continuing intact while a participant is on military leave, sick leave or other
bona fide leave of absence, for up to 90 days, or for so long as the
participant's right to re-employment is guaranteed either by statute or by
contract, if longer than 90 days.

ARTICLE 15 - TERMINATION AND AMENDMENTS TO PLAN.

         Unless terminated sooner as provided below, the Plan shall terminate on
January 1, 2010. The Plan may be terminated at any time by the Company's Board
of Directors but such termination shall not affect rights then outstanding under
the Plan. It will terminate in any case when all or substantially all of the
unissued shares of stock reserved for the purposes of the Plan have been
purchased. If at any time shares of stock reserved for the purpose of the Plan
remain available for purchase but not in sufficient number to satisfy all then
unfilled purchase requirements, the available shares shall be apportioned among
participants in proportion to the amount of payroll deductions accumulated on
behalf of each participant that would otherwise be used to purchase stock, and
the Plan shall terminate. Upon such termination or any other termination of the
Plan, all payroll deductions not used to purchase stock will be refunded,
without interest.

         The Committee or the Board of Directors may from time to time adopt
amendments to the Plan provided that, without the approval of the stockholders
of the Company, no amendment may (i) increase the number of shares that may be
issued under the Plan; (ii) change the class of employees eligible to receive
rights under the Plan, if such action would be treated as the adright of a new
plan for purposes of Section 423(b) of the Code; or (iii) cause Rule 16b-3 under
the Securities Exchange Act of 1934 to become inapplicable to the Plan.

                                      -7-
<PAGE>

ARTICLE 16 - LIMITS ON SALE OF STOCK PURCHASED UNDER THE PLAN.

         The Plan is intended to provide shares of Common Stock for investment
and not for resale. The Company does not, however, intend to restrict or
influence any employee in the conduct of his or her own affairs. An employee
may, therefore, sell stock purchased under the Plan at any time the employee
chooses, subject to compliance with any applicable federal or state securities
laws and subject to any restrictions imposed under Article 21 to ensure that tax
withholding obligations are satisfied. THE EMPLOYEE ASSUMES THE RISK OF ANY
MARKET FLUCTUATIONS IN THE PRICE OF THE STOCK.

ARTICLE 17 - PARTICIPATING SUBSIDIARIES.

         The term "participating subsidiary" shall mean any present or future
subsidiary of the Company, as that term is defined in Section 424(f) of the
Code, which is designated from time to time by the Board of Directors to
participate in the Plan. The Board of Directors shall have the power to make
such designation before or after the Plan is approved by the stockholders.

ARTICLE 18 - EMPLOYEE'S RIGHTS AS STOCKHOLDER.

         Neither the granting of a right to an employee nor the deductions from
his or her pay shall constitute such employee a stockholder of the shares
covered by a right until such shares have been actually purchased by the
employee.

ARTICLE 19 - APPLICATION OF FUNDS.

         The proceeds received by the Company from the sale of Common Stock
pursuant to rights granted under the Plan will be used for general corporate
purposes.

ARTICLE 20 - NOTICE TO COMPANY OF DISQUALIFYING DISPOSITION.

         By electing to participate in the Plan, each participant agrees to
notify the Company in writing immediately after the participant transfers Common
Stock acquired under the Plan, if such transfer occurs within two years after
the first business day of the Payment Period in which such Common Stock was
acquired. Each participant further agrees to provide any information about such
a transfer as may be requested by the Company or any subsidiary corporation in
order to assist it in complying with the tax laws. Such dispositions generally
are treated as "disqualifying dispositions" under Sections 421 and 424 of the
Code, which have certain tax consequences to participants and to the Company and
its participating subsidiaries.

ARTICLE 21 - WITHHOLDING OF ADDITIONAL INCOME TAXES.

         By electing to participate in the Plan, each participant acknowledges
that the Company and its participating subsidiaries are required to withhold
taxes with respect to the amounts

                                      -8-
<PAGE>

deducted from the participant's compensation and accumulated for the benefit of
the participant under the Plan, and each participant agrees that the Company and
its participating subsidiaries may deduct additional amounts from the
participant's compensation, when amounts are added to the participant's account,
used to purchase Common Stock or refunded, in order to satisfy such withholding
obligations. Each participant further acknowledges that when Common Stock is
purchased under the Plan the Company and its participating subsidiaries may be
required to withhold taxes with respect to all or a portion of the difference
between the fair market value of the Common Stock purchased and its purchase
price, and each participant agrees that such taxes may be withheld from
compensation otherwise payable to such participant. It is intended that tax
withholding will be accomplished in such a manner that the full amount of
payroll deductions elected by the participant under Article 7 will be used to
purchase Common Stock. However, if amounts sufficient to satisfy applicable tax
withholding obligations have not been withheld from compensation otherwise
payable to any participant, then, notwithstanding any other provision of the
Plan, the Company may withhold such taxes from the participant's accumulated
payroll deductions and apply the net amount to the purchase of Common Stock,
unless the participant pays to the Company, prior to the exercise date, an
amount sufficient to satisfy such withholding obligations. Each participant
further acknowledges that the Company and its participating subsidiaries may be
required to withhold taxes in connection with the disposition of stock acquired
under the Plan and agrees that the Company or any participating subsidiary may
take whatever action it considers appropriate to satisfy such withholding
requirements, including deducting from compensation otherwise payable to such
participant an amount sufficient to satisfy such withholding requirements or
conditioning any disposition of Common Stock by the participant upon the payment
to the Company or such subsidiary of an amount sufficient to satisfy such
withholding requirements.

ARTICLE 22 - GOVERNMENTAL REGULATIONS.

         The Company's obligation to sell and deliver shares of Common Stock
under the Plan is subject to the approval of any governmental authority required
in connection with the authorization, issuance or sale of such shares.

         Government regulations may impose reporting or other obligations on the
Company with respect to the Plan. For example, the Company may be required to
identify shares of Common Stock issued under the Plan on its stock ownership
records and send tax information statements to employees and former employees
who transfer title to such shares.

ARTICLE 23 - GOVERNING LAW.

         The validity and construction of the Plan shall be governed by the laws
of the State of Delaware, without giving effect to the principles of conflicts
of law thereof.

                                      -9-
<PAGE>

ARTICLE 24 - APPROVAL OF BOARD OF DIRECTORS AND STOCKHOLDERS OF THE COMPANY.

         The Plan was adopted by the Board of Directors on April 26, 2000 and
was approved by the stockholders of the Company on April 26, 2000.

                                      -10-

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