Document:

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                                                                    Exhibit 10.5

                       GREENWICH TECHNOLOGY PARTNERS, INC.

                      2000 STOCK OPTION AND INCENTIVE PLAN
                      ------------------------------------

1.       Purpose and Eligibility
         -----------------------

         The purpose of this 2000 Stock Option and Incentive Plan (the "Plan")
                                                                        ----
of Greenwich Technology Partners, Inc. (the "Company") is to provide stock
                                             -------
options and other equity interests in the Company (each an "Award") to
                                                            -----
employees, officers, directors, consultants and advisors of the Company and its
Subsidiaries, all of whom are eligible to receive Awards under the Plan. Any
person to whom an Award has been granted under the Plan is called a
"Participant". Additional definitions are contained in Section 8.
 -----------

2.       Administration
         --------------

         a.    Administration by Board of Directors. The Plan will be
               ------------------------------------
administered by the Board of Directors of the Company (the "Board"). The Board,
                                                            -----
in its sole discretion, shall have the authority to grant and amend Awards, to
adopt, amend and repeal rules relating to the Plan and to interpret and correct
the provisions of the Plan and any Award. All decisions by the Board shall be
final and binding on all interested persons. Neither the Company nor any member
of the Board shall be liable for any action or determination relating to the
Plan.

         b.    Appointment of Committees. To the extent permitted by applicable
               -------------------------
law, the Board may delegate any or all of its powers under the Plan to one or
more committees or subcommittees of the Board (a "Committee"). All references in
                                                  ---------
the Plan to the "Board" shall mean such Committee or the Board.
                 -----

         c.    Delegation to Executive Officers. To the extent permitted by
               --------------------------------
applicable law, the Board may delegate to one or more executive officers of the
Company the power to grant Awards and exercise such other powers under the Plan
as the Board may determine, provided that the Board shall fix the maximum number
of Awards to be granted and the maximum number of shares issuable to any one
Participant pursuant to Awards granted by such executive officers.

3.       Stock Available for Awards
         --------------------------

         a.    Number of Shares. Subject to adjustment under Section 3(c), the
               ----------------
aggregate number of shares of Common Stock of the Company (the "Common Stock")
                                                                ------------
that may be issued pursuant to the Plan is 6,000,000 shares. If any Award
expires, or is terminated, surrendered or forfeited, in whole or in part, the
unissued Common Stock covered by such Award shall again be available for the
grant of Awards under the Plan. If shares of Common Stock issued pursuant to the
Plan are repurchased by, or are surrendered or forfeited to, the Company at no
more than cost, such shares of Common Stock shall again be available for the
grant of Awards under the Plan; provided, however, that the cumulative number of
such shares that may be so reissued under the Plan will not exceed 6,000,000
shares. Shares issued under the Plan may consist in whole or in part of
authorized but unissued shares or treasury shares.
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         b.    Per-Participant Limit. Subject to adjustment under Section 3(c),
               ---------------------
no Participant may be granted Awards during any one fiscal year to purchase more
than 1,000,000 shares of Common Stock.

         c.    Adjustment to Common Stock. In the event of any stock split,
               --------------------------
stock dividend, extraordinary cash dividend, recapitalization, reorganization,
merger, consolidation, combination, exchange of shares, liquidation, spin-off,
split-up, or other similar change in capitalization or event, (i) the number and
class of securities available for Awards under the Plan and the per-Participant
share limit, (ii) the number and class of securities, vesting schedule and
exercise price per share subject to each outstanding Option, (iii) the
repurchase price per security subject to repurchase, and (iv) the terms of each
other outstanding stock-based Award shall be adjusted by the Company (or
substituted Awards may be made) to the extent the Board shall determine, in good
faith, that such an adjustment (or substitution) is appropriate. If Section
7(e)(i) applies for any event, this Section 3(c) shall not be applicable.

4.       Stock Options
         -------------

         a.    General. The Board may grant options to purchase Common Stock
               -------
(each, an "Option") and determine the number of shares of Common Stock to be
           ------
covered by each Option, the exercise price of each Option and the conditions and
limitations applicable to the exercise of each Option and the Common Stock
issued upon the exercise of each Option, including vesting provisions,
repurchase provisions and restrictions relating to applicable federal or state
securities laws, as it considers advisable.

         b.    Incentive Stock Options. An Option that the Board intends to be
               -----------------------
an "incentive stock option" as defined in Section 422 of the Code (an "Incentive
                                                                       ---------
Stock Option") shall be granted only to employees of the Company and shall be
------------
subject to and shall be construed consistently with the requirements of Section
422 of the Code. The Board and the Company shall have no liability if an Option
or any part thereof that is intended to be an Incentive Stock Option does not
qualify as such. An Option or any part thereof that does not qualify as an
Incentive Stock Option, or an Option that could qualify but intentionally is not
granted as an Incentive Stock Option is referred to herein as a "Nonstatutory
                                                                 ------------
Stock Option."
------------

         c.    Exercise Price. The Board shall establish the exercise price (or
               --------------
determine the method by which the exercise price shall be determined) at the
time each Option is granted and specify it in the applicable option agreement.

         d.    Duration of Options. Each Option shall be exercisable at such
               -------------------
times and shall be subject to such terms and conditions as the Board may specify
in the applicable option agreement.

         e.    Exercise of Option. Options may be exercised only by delivery to
               ------------------
the Company of a written notice of exercise signed by the proper person together
with payment in full as specified in Section 4(f) for the number of shares for
which the Option is exercised.

                                      -2-
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         f.    Payment Upon Exercise. Common Stock purchased upon the exercise
               ---------------------
of an Option shall be paid for by one or any combination of the following forms
of payment:

               (i)    by check payable to the order of the Company;

               (ii)   except as otherwise explicitly provided in the applicable
option agreement, and only if the Common Stock is then publicly traded, delivery
of an irrevocable and unconditional undertaking by a creditworthy broker to
deliver promptly to the Company sufficient funds to pay the exercise price, or
delivery by the Participant to the Company of a copy of irrevocable and
unconditional instructions to a creditworthy broker to deliver promptly to the
Company cash or a check sufficient to pay the exercise price; or

               (iii)  to the extent explicitly provided in the applicable option
agreement, by (x) delivery of shares of Common Stock owned by the Participant
valued at fair market value (as determined by the Board or as determined
pursuant to the applicable option agreement), (y) delivery of a promissory note
of the Participant to the Company (and delivery to the Company by the
Participant of a check in an amount equal to the par value of the shares
purchased), or (z) payment of such other lawful consideration as the Board may
determine.

5.       Restricted Stock
         ----------------

         a.    Grants. The Board may grant Awards entitling recipients to
               ------
acquire shares of Common Stock, subject to (i) delivery to the Company by the
Participant of a check in an amount at least equal to the par value of the
shares purchased, and (ii) the right of the Company to repurchase all or part of
such shares at their issue price or other stated or formula price from the
Participant in the event that conditions specified by the Board in the
applicable Award are not satisfied prior to the end of the applicable
restriction period or periods established by the Board for such Award (each, a
"Restricted Stock Award").
 ----------------------

         b.    Terms and Conditions. The Board shall determine the terms and
               --------------------
conditions of any such Restricted Stock Award. Any stock certificates issued in
respect of a Restricted Stock Award shall be registered in the name of the
Participant and, unless otherwise determined by the Board, deposited by the
Participant, together with a stock power endorsed in blank, with the Company (or
its designee). After the expiration of the applicable restriction periods, the
Company (or such designee) shall deliver the certificates no longer subject to
such restrictions to the Participant or, if the Participant has died, to the
beneficiary designated by a Participant, in a manner determined by the Board, to
receive amounts due or exercise rights of the Participant in the event of the
Participant's death (the "Designated Beneficiary"). In the absence of an
                          ----------------------
effective designation by a Participant, Designated Beneficiary shall mean the
Participant's estate.

6.       Other Stock-Based Awards
         ------------------------

         The Board shall have the right to grant other Awards based upon the
Common Stock having such terms and conditions as the Board may determine,
including, without limitation, the

                                      -3-
<PAGE>

grant of shares based upon certain conditions, the grant of securities
convertible into Common Stock and the grant of stock appreciation rights,
phantom stock awards or stock units.

7.       General Provisions Applicable to Awards
         ---------------------------------------

         a.    Transferability of Awards. Except as the Board may otherwise
               -------------------------
determine or provide in an Award, Awards shall not be sold, assigned,
transferred, pledged or otherwise encumbered by the person to whom they are
granted, either voluntarily or by operation of law, except by will or the laws
of descent and distribution, and, during the life of the Participant, shall be
exercisable only by the Participant. References to a Participant, to the extent
relevant in the context, shall include references to authorized transferees.

         b.    Documentation. Each Award under the Plan shall be evidenced by a
               -------------
written instrument in such form as the Board shall determine or as executed by
an officer of the Company pursuant to authority delegated by the Board. Each
Award may contain terms and conditions in addition to those set forth in the
Plan provided that such terms and conditions do not contravene the provisions of
the Plan.

         c.    Board Discretion. The terms of each type of Award need not be
               ----------------
identical, and the Board need not treat Participants uniformly.

         d.    Termination of Status. The Board shall determine the effect on an
               ---------------------
Award of the disability, death, retirement, authorized leave of absence or other
change in the employment or other status of a Participant and the extent to
which, and the period during which, the Participant, or the Participant's legal
representative, conservator, guardian or Designated Beneficiary, may exercise
rights under the Award.

         e.    Acquisition of the Company
               --------------------------

               (i)    Acquisition  Defined. An "Acquisition" shall mean: (x) the
                      --------------------      -----------
sale of the Company by merger in which the  shareholders of the Company in their
capacity as such no longer own a majority of the outstanding  equity  securities
of the Company (or its successor);  or (y) any sale of all or substantially  all
of the assets or  capital  stock of the  Company  (other  than in a spin-off  or
similar  transaction)  or (z)  any  other  acquisition  of the  business  of the
Company, as determined by the Board.

               (ii)   Assumption of Options Upon Certain Events.  In connection
                      -----------------------------------------
with a merger or  consolidation of an entity with the Company or the acquisition
by the  Company of property  or stock of an entity,  the Board may grant  Awards
under the Plan in substitution  for stock and stock-based  awards issued by such
entity or an affiliate  thereof.  The substitute Awards shall be granted on such
terms and conditions as the Board considers appropriate in the circumstances.

               (iii)  Pooling-of Interests-Accounting. If the Company proposes
                      -------------------------------
to engage in an Acquisition intended to be accounted for as a pooling-of-
interests, and in the event that the provisions of this Plan or of any Award
hereunder, or any actions of the Board taken in

                                      -4-
<PAGE>

connection with such Acquisition, are determined by the Company's or the
acquiring company's independent public accountants to cause such Acquisition to
fail to be accounted for as a pooling-of-interests, then such provisions or
actions shall be amended or rescinded by the Board, without the consent of any
Participant, to be consistent with pooling-of-interests accounting treatment for
such Acquisition.

         f.    Withholding. Each Participant shall pay to the Company, or make
               -----------
provisions satisfactory to the Company for payment of, any taxes required by law
to be withheld in connection with Awards to such Participant no later than the
date of the event creating the tax liability. The Board may allow Participants
to satisfy such tax obligations in whole or in part by transferring shares of
Common Stock, including shares retained from the Award creating the tax
obligation, valued at their fair market value (as determined by the Board or as
determined pursuant to the applicable option agreement). The Company may, to the
extent permitted by law, deduct any such tax obligations from any payment of any
kind otherwise due to a Participant.

         g.    Amendment of Awards. The Board may amend, modify or terminate any
               -------------------
outstanding Award including, but not limited to, substituting therefor another
Award of the same or a different type, changing the date of exercise or
realization, and converting an Incentive Stock Option to a Nonstatutory Stock
Option, provided that, except as otherwise provided in Section 7(e)(iii), the
Participant's consent to such action shall be required unless the Board
determines that the action, taking into account any related action, would not
materially and adversely affect the Participant.

         h.    Conditions on Delivery of Stock. The Company will not be
               -------------------------------
obligated to deliver any shares of Common Stock pursuant to the Plan or to
remove restrictions from shares previously delivered under the Plan until (i)
all conditions of the Award have been met or removed to the satisfaction of the
Company, (ii) in the opinion of the Company's counsel, all other legal matters
in connection with the issuance and delivery of such shares have been satisfied,
including any applicable securities laws and any applicable stock exchange or
stock market rules and regulations, and (iii) the Participant has executed and
delivered to the Company such representations or agreements as the Company may
consider appropriate to satisfy the requirements of any applicable laws, rules
or regulations.

         i.    Acceleration. The Board may at any time provide that any Options
               ------------
shall become immediately exercisable in full or in part, that any Restricted
Stock Awards shall be free of some or all restrictions, or that any other stock-
based Awards may become exercisable in full or in part or free of some or all
restrictions or conditions, or otherwise realizable in full or in part, as the
case may be, despite the fact that the foregoing actions may (i) cause the
application of Sections 280G and 4999 of the Code if a change in control of the
Company occurs, or (ii) disqualify all or part of the Option as an Incentive
Stock Option.

8.       Miscellaneous
         -------------

         a.    Definitions.
               -----------

                                      -5-
<PAGE>

               (i)    "Company,"  for purposes of  eligibility  under the Plan,
                       --------
shall  include  any  present  or future  subsidiary  corporations  of  Greenwich
Technology  Partners,  Inc.,  as  defined  in  Section  424(f)  of the  Code  (a
"Subsidiary"),  and any  present  or  future  parent  corporation  of  Greenwich
 ----------
Technology  Partners,  Inc.,  as  defined  in  Section  424(e) of the Code.  For
purposes of Awards other than Incentive Stock Options,  the term "Company" shall
                                                                  -------
include any other business venture in which the Company has a direct or indirect
significant interest, as determined by the Board in its sole discretion.

               (ii)   "Code" means the Internal Revenue Code of 1986, as
                       ----
amended, and any regulations promulgated thereunder.

               (iii)  "employee" for purposes of  eligibility  under the Plan
                       --------
(but not for purposes of Section  4(b)) shall  include a person to whom an offer
of employment has been extended by the Company.

         b.    No Right To Employment or Other Status. No person shall have any
               --------------------------------------
claim or right to be granted an Award, and the grant of an Award shall not be
construed as giving a Participant the right to continued employment or any other
relationship with the Company. The Company expressly reserves the right at any
time to dismiss or otherwise terminate its relationship with a Participant free
from any liability or claim under the Plan.

         c.    No Rights As Stockholder. Subject to the provisions of the
               ------------------------
applicable Award, no Participant or Designated Beneficiary shall have any rights
as a stockholder with respect to any shares of Common Stock to be distributed
with respect to an Award until becoming the record holder thereof.

         d.    Effective Date and Term of Plan. The Plan shall become effective
               -------------------------------
on the date on which it is adopted by the Board. No Awards shall be granted
under the Plan after the completion of ten years from the date on which the Plan
was adopted by the Board, but Awards previously granted may extend beyond that
date.

         e.    Amendment of Plan. The Board may amend, suspend or terminate the
               -----------------
Plan or any portion thereof at any time.

         f.    Governing Law. The provisions of the Plan and all Awards made
               -------------
hereunder shall be governed by and interpreted in accordance with the laws of
the State of Delaware, without regard to any applicable conflicts of law.

                                          Adopted by the Board of Directors on
                                          _______________, 2000

                                          Approved by the stockholders on
                                          _______________, 2000

                                      -6-<PAGE>

                                                                    Exhibit 10.6
                                                                    ------------

                       GREENWICH TECHNOLOGY PARTNERS, 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 Greenwich Technology
Partners, Inc., a Delaware corporation, (the "Company"), 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 Committee shall consist of not
less than two members of the Company's Board of Directors. 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 Members 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 option 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 option 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
whose customary employment is more than 20 hours per week and for more than five
months in any calendar year and who have completed 3 months of employment with
the Company shall be eligible to receive options 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
options as of such day. Persons who become eligible employees after any date on
which options are granted under the Plan shall be granted options on the first
day of the next succeeding Payment Period on which options are granted to
eligible employees under the Plan. In no event, however, may an employee be
granted an option if such employee, immediately after the option was
<PAGE>

                                      -2-

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 options shall be treated as stock owned
by the employee.

Article 4 - Stock Subject to the Plan.
-------------------------------------

      The stock subject to the options 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 which may be
issued pursuant to the Plan is 850,000, subject to adjustment as provided in
Article 12. If any option 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 for issuance under the Plan.

Article 5 - Payment Period and Stock Options.
--------------------------------------------

      The first Payment Period during which payroll deductions will be
accumulated under the Plan shall commence on a date determined by the Board of
Directors and shall end on December 31, 2001. For the remainder of the duration
of the Plan, Payment Periods shall consist of the six-month periods commencing
on July 1 and January 1 and ending on December 31 and June 30, respectively 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 an option to purchase on the last day of such Payment Period, at the Option
Price hereinafter provided for, a maximum of 1,000 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 option so granted only to the extent of the participant's accumulated
payroll deductions on the 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 1,000 shares except for the 1,000-
share limitation, the excess of the amount of the accumulated payroll deductions
over the aggregate purchase price of the 1,000 shares shall be promptly refunded
to the participant by the Company, without interest. The Option Price per share
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 option and the Option
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

<PAGE>

                                      -3-

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 the State of Connecticut.

      No employee shall be granted an option 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 options on such stock were granted) for
each calendar year in which such option 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 Option.
------------------------------

      Each eligible employee who continues to be a participant in the Plan on
the last day of a Payment Period shall be deemed to have exercised his or her
option 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 Option Price, subject to the 1,000-share limit of the option 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, he or she shall not be entitled
to exercise his or her option. 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.

<PAGE>

                                      -4-

      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.

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 during a Payment
Period, if such withdrawal is in accordance with Article 10.

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 written
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 options 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

<PAGE>

                                      -5-

      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

             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 option hereunder, each participant
      upon exercising such an option 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 option 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 option at all times between the date of the granting
      of such option 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 options
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 options then outstanding under the Plan, either (i) make
appropriate provision for the continuation of such options by arranging for the
substitution on an equitable basis for the shares then subject to such options
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 options immediately preceding the Acquisition;
or (ii) terminate each participant's options 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 an
option price determined with reference only to the first business day of the
applicable Payment Period and subject to the 1,000-share, 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 option price.

      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.
-----------------------------------------------------------

      An option 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.
---------------------------------------------

<PAGE>

                                      -6-

      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.

      If a participant's payroll deductions are interrupted by any legal
process, a withdrawal notice will be considered as having been received from the
participant on the day the interruption occurs.

Article 15 - Termination and Amendments to Plan.
-----------------------------------------------

      Unless terminated sooner as provided below, the Plan shall terminate on
__________, 2009. The Plan may be terminated at any time by the Company's Board
of Directors but such termination shall not affect options then outstanding
under the Plan. The Plan 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 purposes 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
options under the Plan, if such action would be treated as the adoption 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.

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.

<PAGE>

                                      -7-

Article 18 - Optionees Not Stockholders.
---------------------------------------

      Neither the granting of an option to an employee nor the deductions from
his or her pay shall constitute such employee a stockholder of the shares
covered by an option 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 options 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 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.

<PAGE>

                                      -8-

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
Delaware, without giving effect to the principles of conflicts of law thereof.

Article 24 - Approval of Board of Directors and Stockholders of the Company.
---------------------------------------------------------------------------

      The Plan was adopted by the Board of Directors on [August __, 2000] and
was approved by the stockholders of the Company on [date].

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