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                                                                   EXHIBIT 10.15

                                  WEBSIDESTORY

                PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT

In consideration of my employment or continued employment by WEBSIDESTORY (the
"Company"), and the compensation now and hereafter paid to me, I, JOHN HENTRICH,
hereby agree as follows:

1.    NONDISCLOSURE

1.1   RECOGNITION OF COMPANY'S RIGHTS; NONDISCLOSURE. At all times during my
employment and thereafter, I will hold in strictest confidence and will not
disclose, use, lecture upon or publish any of the Company's Proprietary
Information (defined below), except as such disclosure, use or publication may
be required in connection with my work for the Company, or unless an officer of
the Company expressly authorizes such in writing. I will obtain Company's
written approval before publishing or submitting for publication any material
(written, verbal, or otherwise) that relates to my work at Company and/or
incorporates any Proprietary Information. I hereby assign to the Company any
rights I may have or acquire in such Proprietary Information and recognize that
all Proprietary Information shall be the sole property of the Company and its
assigns.

1.2   PROPRIETARY INFORMATION. The term "Proprietary Information" shall mean any
and all confidential and/or proprietary knowledge, data or information of the
Company. By way of illustration but not limitation, "Proprietary Information"
includes tangible and intangible information relating to antibodies and other
biological materials, cell lines, samples of assay components, media and/or cell
lines and procedures and formulations for producing any such assay components,
media and/or cell lines, formulations, products, processes, know-how, designs,
formulas, methods, developmental or experimental work, clinical data,
improvements, discoveries, plans for research, new products, marketing and
selling, business plans, budgets and unpublished financial statements, licenses,
prices and costs, suppliers and customers, and information regarding the skills
and compensation of other employees of the Company.

1.3   THIRD PARTY INFORMATION. I understand, in addition, that the Company has
received and in the future will receive from third parties confidential or
proprietary information ("Third Party Information") subject to a duty on the
Company's part to maintain the confidentiality of such information and to use it
only for certain limited purposes. During the term of my employment and
thereafter, I will hold Third Party Information in the strictest confidence and
will not disclose to anyone (other than Company personnel who need to know such
information in connection with their work for the Company) or use, except in
connection with my work for the Company, Third Party Information unless
expressly authorized by an officer of the Company in writing.

1.4   NO IMPROPER USE OF INFORMATION OF PRIOR EMPLOYERS AND OTHERS. During my
employment by the Company I will not improperly use or disclose any confidential
information or trade secrets, if any, of any former employer or any other person
to whom I have an obligation of confidentiality, and I will not bring, onto the
premises of the Company any unpublished documents or any property belonging to
any former employer or any other person to whom I have an obligation of
confidentiality unless consented to in writing by that former employer or
person. I will use in the performance of my duties only information which is
generally known and used by persons with training and experience comparable to
my own, which is common knowledge in the industry or otherwise legally in the
public domain, or which is otherwise provided or developed by the Company.

2.    ASSIGNMENT OF INVENTIONS.

2.1   PROPRIETARY RIGHTS. The term "Proprietary Rights" shall mean all trade
secret, patent, copyright, mask work and other intellectual property rights
throughout the world.

2.2   PRIOR INVENTIONS. Inventions, if any, patented or unpatented, which I made
prior to the commencement of my employment with the Company are excluded from
the scope of this Agreement. To preclude any possible uncertainty, I have set
forth on Exhibit-2 (Previous Inventions) attached hereto a complete list of all
Inventions that I have, alone or jointly with others, conceived, developed or
reduced to practice or caused to be conceived, developed or reduced to practice
prior to the commencement of my employment with the Company, that I consider to
be my property or the property of third parties and that I wish to have excluded
from the scope of this Agreement (collectively referred to as "Prior
Inventions"). If disclosure of any such Prior Invention would cause me to
violate any prior confidentiality agreement, I understand that I am not to list
such Prior

                                       1.
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Inventions in Exhibit -2 but am only to disclose a cursory name for each such
invention, a listing of the party(ies) to whom it belongs and the fact that full
disclosure as to such inventions has not been made for that reason. A space is
provided on Exhibit -2 for such purpose. If no Such disclosure is attached, I
represent that there are no Prior Inventions. If, in the course of my employment
with the Company, I incorporate a Prior Invention into a Company product,
process or machine, the Company is hereby granted and shall have a nonexclusive,
royalty-free, irrevocable, perpetual, worldwide license (with rights to
sublicense through multiple tiers of sublicensees) to make, have made, modify,
use and sell such Prior Invention. Notwithstanding the foregoing, I agree that I
will not incorporate, or permit to be incorporated, Prior Inventions in any
Company Inventions without the Company's prior written consent.

2.3   ASSIGNMENT OF INVENTIONS. Subject to Sections 2.4 and 2.6, I hereby assign
and agree to assign in the future (when any such Inventions or Proprietary
Rights are first reduced to practice or first fixed in a tangible medium, as
applicable) to the Company all my right, title and interest in and to any and
all Inventions (and all Proprietary Rights with respect thereto) whether or not
patentable or registrable under copyright or similar statutes, made or conceived
or reduced to practice or learned by me, either alone or jointly with others,
during the period of my employment with the Company. Inventions assigned to the
Company, or to a third party as directed by the Company pursuant to this Section
2, are hereinafter referred to as "Company Inventions".

2.4   NONASSIGNABLE INVENTIONS. This Agreement does not apply to an Invention
which qualifies fully as a nonassignable Invention under Section 2870 of the
California Labor Code (hereinafter "Section 2870"). I have reviewed the
notification on Exhibit-1 (Limited Exclusion Notification) and agree that my
signature acknowledges receipt of the notification.

2.5   OBLIGATION TO KEEP COMPANY INFORMED. During the period of my employment
and for six (6) months after termination of my employment with the Company, I
will promptly disclose to the Company fully and in writing all Inventions
authored, conceived or reduced to practice by me, either alone or jointly with
others. In addition, I will promptly disclose to the Company all patent
applications filed by me or on my behalf within a year after termination of
employment. At the time of each such disclosure, I will advise the Company in
writing of any Inventions that I believe fully qualify for protection under
Section 2870; and I will at that time provide to the Company in writing, all
evidence necessary to substantiate that belief. The Company will keep in
confidence and will not use for any purpose or disclose to third parties without
my consent any confidential information disclosed in writing to the Company
pursuant to this Agreement relating to Inventions that qualify fully for
protection under the provisions of Section 2870. I will preserve the
confidentiality of any Invention that does not fully qualify for protection
under Section 2870.

2.6   GOVERNMENT OR THIRD PARTY. I also agree to assign all my right, title and
interest in and to any particular Company Invention to a third party, including
without limitation the United States, as directed by the Company.

2.7   WORKS FOR HIRE. I acknowledge that all original works of authorship which
are made by me (solely or jointly with others) within the scope of my employment
and which are protectable by copyright are "works made for hire", pursuant to
United States Copyright Act (17 U.S.C., Section 101).

2.8   ENFORCEMENT OF PROPRIETARY RIGHTS. I will assist the Company in every
proper way to obtain, and from time to time enforce, United States and foreign
Proprietary Rights relating to Company Inventions in any and all countries. To
that end I will execute, verify and deliver such documents and perform such
other acts (including appearances as a witness) as the Company may reasonably
request for use in applying for, obtaining, perfecting, evidencing, sustaining
and enforcing such Proprietary Rights and the assignment thereof. In addition, I
will execute, verify and deliver assignments of such Proprietary Rights to the
Company or its designee. My obligation to assist the Company with respect to
Proprietary Rights relating to such Company Inventions in any and all countries
shall continue beyond the termination of my employment, but the Company shall
compensate me at a reasonable rate after my termination for the time actually
spent by me at the Company's request on such assistance.

In the event the Company is unable for any reason, after reasonable effort, to
secure my signature on any document needed in connection with the actions
specified in the preceding paragraph, I hereby irrevocably designate and appoint
the Company and its duly authorized officers and agents as my agent and attorney
in fact, which appointment is coupled with an interest, to act for and in my
behalf to execute, verify and file any such documents and to do all other
lawfully permitted acts to further the purposes of the preceding paragraph with
the same legal force and

                                       2.
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effect as if executed by me. I hereby waive and quitclaim to the Company any and
all claims, of any nature whatsoever, which I now or may hereafter have for
infringement of any Proprietary Rights assigned hereunder to the Company.

3.    RECORDS. I agree to keep and maintain adequate and current records (in the
form of notes, sketches, drawings and in any other form that may be required by
the Company) of all Proprietary Information developed by me and all Inventions
made by me during the period of my employment at the Company, which records
shall be available to and remain the sole property of the Company at all times.

4.    ADDITIONAL ACTIVITIES. I agree that during the period of my employment by
the Company I will not, without the Company's express written consent, engage in
any employment or business activity which is competitive with, or would
otherwise conflict with, my employment by the Company. I agree further that for
the period of my employment by the Company and for one (1) year after the date
of termination of my employment by the Company I will not induce any employee of
the Company to leave the employ of the Company.

5.    NO CONFLICTING OBLIGATION. I represent that my performance of all the
terms of this Agreement and as an employee of the Company does not and will not
breach any agreement to keep in confidence information acquired by me in
confidence or in trust prior to my employment by the Company. I have not entered
into, and I agree I will not enter into, any agreement either written or oral in
conflict herewith.

6.    RETURN OF COMPANY DOCUMENTS. When I leave the employ of the Company, I
will deliver to the Company any and all drawings, notes, memoranda,
specifications, devices, formulas, and documents, together with all copies
thereof, and any other material containing or disclosing any Company Inventions,
Third Party Information or Proprietary Information of the Company. I further
agree that any property situated on the Company's premises and owned by the
Company, including disks and other storage media, filing cabinets or other work
areas, is subject to inspection by Company personnel at any time with or without
notice. Prior to leaving, I will cooperate with the Company in completing and
signing the Company's termination statement.

7.    LEGAL AND EQUITABLE REMEDIES. Because my services are personal and unique
and because I may have access to and become acquainted with the Proprietary
Information of the Company, the Company shall have the right to enforce this
Agreement and any of its provisions by, injunction specific performance or other
equitable relief, without bond and without prejudice to any other rights and
remedies that the Company may leave for a breach of this Agreement.

8.    NOTICES. Any notices required or permitted hereunder shall be given to the
appropriate party at the address specified below or at such other address as the
Party shall specify in writing. Such notice shall be deemed given upon personal
delivery to the appropriate address or if sent by certified or registered mail,
three (3) days after the date of mailing

9.    NOTIFICATION OF NEW EMPLOYER. In the event that I leave the employ of the
Company, I hereby consent to the notification of my new employer of my rights
and obligations under this Agreement.

10.   GENERAL PROVISIONS.

10.1  GOVERNING LAW; CONSENT TO PERSONAL JURISDICTION. This Agreement will be
governed by and construed according to the laws of the State of California, as
such laws are applied to agreements entered into and to be performed entirely
within California between California residents. I hereby expressly consent to
the personal jurisdiction of the state and federal courts located in San Diego
County, California for any lawsuit filed there against me by Company arising
from or related to this Agreement.

10.2  SEVERABILITY. In case any one or more of the provisions contained in this
Agreement shall, for any reason, be held to be invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not affect
the other provisions of this Agreement, and this Agreement shall be construed as
if such invalid, illegal or unenforceable provision had never been contained
herein. If moreover, any one or more of the provisions contained in this
Agreement shall for any reason be held to be excessively broad as to duration,
Geographical scope, activity or subject, it shall be construed by limiting and
reducing it, so as to be enforceable to the extent compatible with the
applicable taw as it shall then appear.

10.3  SUCCESSORS AND ASSIGNS. This Agreement will be binding upon my heirs,
executors, administrators and other legal representatives and will be for the
benefit of the Company, its successors, and its assigns.

                                       3.
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10.4  SURVIVAL. The provisions of this Agreement shall survive the termination
of my employment the assignment of this Agreement by the Company to any
successor in interest or other assignee.

10.5  EMPLOYMENT. I agree and understand that nothing in this Agreement shall
confer any right with respect to continuation of employment by the Company, nor
shall it interfere in any way with my right or the Company's right to terminate
my employment at any time, with or without Cause.

10.6  WAIVER. No waiver by the Company of any breach of this Agreement shall be
a waiver of any preceding or succeeding breach. No waiver by the Company of any
right under this Agreement shall be construed as a waiver of any other right.
The Company shall not be required to give notice to enforce strict adherence to
all terms of this Agreement.

10.7  ENTIRE AGREEMENT. The obligations pursuant to Sections 1 and 2 of this
Agreement shall apply to any time during which I was previously employed, or am
in the future employed, by the Company as a consultant if no other agreement
governs nondisclosure and assignment of inventions during such period. This
Agreement is the final, complete and exclusive agreement of the Parties with
respect to the subject matter hereof and supersedes and merges all prior
discussions between us. No modification of or amendment to this Agreement, nor
any waiver of any rights under this Agreement, will be effective unless in
writing and signed by the Party to be charged. Any subsequent change or changes
in my duties, salary or compensation will not affect the validity or scope of
this Agreement.

      This Agreement shall be effective as of the first day of any employment
with the Company, namely:
11/19, 1999
-------------

      I HAVE READ THIS AGREEMENT CAREFULLY AND UNDERSTAND ITS TERMS. I HAVE
COMPLETELY FILLED OUT EXHIBIT -1 TO THIS AGREEMENT.

Dated:    11/19/99
      ----------------------------

/s/ J. HENTRICH
----------------------------------
(Signature)

----------------------------------
JOHN HENTRICH

ACCEPTED AND AGREED TO:

WEBSIDESTORY

----------------------------------

[ILLEGIBLE]
----------------------------------

By:    /s/ [ILLEGIBLE]
       ---------------------------

Title: CHIEF OPERATING OFFICER
       ---------------------------

Dated: NOV. 19, 1999
      ----------------------------

                                       4.

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                                    EXHIBIT 1

                         LIMITED EXCLUSION NOTIFICATION

THIS IS TO NOTIFY THE EMPLOYEE in accordance with Section 2872 of the California
Labor Code that the foregoing Agreement between the Employee and the Company
does not require the Employee to assign or offer to assign to the Company any
invention that the Employee developed entirely on your own time without using
the Company's equipment, supplies, facilities or trade secret information except
for those inventions that either:

1.    RELATE AT THE TIME OF CONCEPTION OR REDUCTION TO PRACTICE OF THE INVENTION
      TO THE COMPANY'S BUSINESS, OR ACTUAL OR DEMONSTRABLY ANTICIPATED RESEARCH
      OR DEVELOPMENT OF THE COMPANY;

2.    RESULT FROM ANY WORK PERFORMED BY THE EMPLOYEE FOR THE COMPANY.

      To the extent a provision in the foregoing Agreement purports to require
the Employee to assign an invention otherwise excluded from the preceding
paragraph, the provision is against the public policy of this state and is
unenforceable.

      This limited exclusion does not apply to any patent or invention covered
by a contract between the Company and the United States or any of its agencies
requiring full title to such patent or invention to be in the United States.

      I ACKNOWLEDGE RECEIPT of a copy of this notification.

                                      /s/ J. HENTRICH
                                      ---------------------------------------
                                       JOHN HENTRICH

                                      Date:    11/19/99
                                           -----------------------------------
WITNESSED BY:

-----------------------------------
(PRINTED NAME OF REPRESENTATIVE)

                                       5.
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                                   EXHIBIT - 2

TO:         WEBSIDESTORY

FROM:       JOHN HENTRICH
DATE:       11/19, 1999
SUBJECT:    PREVIOUS INVENTIONS

      1.    Except as listed in Section 2 below, the following is a complete
list of all inventions or improvements relevant to the subject matter of my
employment by BAKER & McKENZIE (the "Company") that have been made or conceived
or first reduced to practice by me alone or jointly with others prior to my
engagement by the Company :

     [X]    No inventions or improvements.

     [ ]    See below:

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

     [ ]   Additional sheets attached.

      2.    Due to a prior confidentiality agreement, I cannot complete the
disclosure under Section I above with respect to inventions or improvements
generally listed below, the proprietary rights and duty of confidentiality with
respect to which I owe to the following party(ies):

<TABLE>
<CAPTION>

        INVENTION OR IMPROVEMENT       PARTY(ies)      RELATIONSHIP

<S>                                    <C>             <C>
1.
  -----------------------------------  -----------     -------------------------

2.
  -----------------------------------  -----------     -------------------------

3.

  -----------------------------------  -----------     -------------------------
</TABLE>

     [ ]       Additional sheets attached.

                                       6.<PAGE>   1
                                                                   EXHIBIT 10.16

                               WEBSIDESTORY, INC.
                           2000 EQUITY INCENTIVE PLAN

                             STOCK OPTION AGREEMENT
                   (INCENTIVE AND NONSTATUTORY STOCK OPTIONS)

      Pursuant to your Stock Option Grant Notice ("Grant Notice") and this Stock
Option Agreement, WebSideStory, Inc. (the "Company") has granted you an option
("Option") under its 2000 Equity Incentive Plan (the "Plan") to purchase the
number of shares of the Company's Common Stock indicated in your Grant Notice at
the exercise price indicated in your Grant Notice. Defined terms not explicitly
defined in this Stock Option Agreement but defined in the Plan shall have the
same definitions as in the Plan.

      The details of your option are as follows:

      1.    VESTING. Subject to the limitations contained herein, your option
will vest as provided in your Grant Notice, provided that vesting will cease
upon the termination of your Continuous Service.

      (a)   SPECIAL EXERCISE PERIOD, ACCELERATION AND VESTING PROVISIONS. In the
event that your Continuous Service terminates due to an involuntary termination
(not including death or Disability) without Cause or due to a Constructive
Termination within three years from the Vesting Commencement Date, then,
notwithstanding anything to the contrary in the Plan, you shall have until the
end of twelve (12) months after the date of such termination to exercise your
Options.

      In the event of a Change in Control, the vesting of an additional 500,000
shares of your Option (or remaining unvested shares, whichever is less) shall
immediately accelerate as provided in your Grant Notice and, notwithstanding
anything to the contrary in the Plan, you shall have until the end of twelve
(12) months after the date of a Change in Control to exercise your Options (or
the normal exercise period, if later). In the event that both (i) your
Continuous Service terminates due to an Involuntary termination (not including
death or Disability) without Cause or due to a Constructive Termination and (ii)
such termination occurs within 60 days prior to or any time after a Change in
Control (or agreement to effect a Change in Control) then, notwithstanding
anything to the contrary in the Plan, the vesting of all unvested portions of
your Option shall immediately accelerate and you shall have until the end of
four (4) years after the date of such termination to exercise your Option or any
part of it.

      For purposes of this subsection 1(a) only, Change in Control means: (i) a
dissolution or liquidation of the Company; (ii) a sale of all or a majority of
the assets of the Company; (iii) a merger or consolidation in which the Company
is not the surviving corporation and in which beneficial ownership of securities
of the Company representing at least fifty percent (50%) of the combined voting
power entitled to vote in the election of Directors has changed; (iv) a reverse

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merger in which the Company is the surviving corporation but the shares of
Common Stock outstanding immediately preceding the merger are converted by
virtue of the merger into other property, whether in the form of securities,
cash or otherwise, and in which beneficial ownership of securities of the
Company representing at least fifty percent (50%) of the combined voting power
entitled to vote in the election of Directors has changed; (v) an acquisition by
any person, entity or group within the meaning of Section 13(d) or 14(d) of the
Exchange Act, or any comparable successor provisions (excluding any employee
benefit plan, or related trust, sponsored or maintained by the Company or
subsidiary of the Company or other entity controlled by the Company) of the
beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
Exchange Act, or comparable successor rule) of securities of the Company
representing at least fifty percent (50%) of the combined voting power entitled
to vote in the election of Directors; or (vi) in the event that the individuals
who, as of the date of adoption of the Plan, are members of the Company's Board
(the "Incumbent Board"), cease for any reason to constitute at least fifty
percent (50%) of the Board. (If the election, or nomination for election by the
Company's stockholders, of any new Director is approved by a vote of at least
fifty percent (50%) of the Incumbent Board, such new Director shall be
considered to be a member of the Incumbent Board in the future.)

      For purposes of this subsection 1(a) only, Constructive Termination means:
the occurrence of any of the following events or conditions: (i) (A) a change in
your status, title, position or responsibilities (including reporting
responsibilities) which represents an adverse change from your status, title,
position or responsibilities as in effect at any time within ninety (90) days
preceding the date of a Change in Control (as defined above) or at any time
thereafter; (B) the assignment to you of any duties or responsibilities which
are inconsistent with your status, title, position or responsibilities as in
effect at any time within ninety (90) days preceding the date of a Change in
Control or at any time thereafter; or (C) any removal of you from or failure to
reappoint or reelect you to any of such offices or positions, except in
connection with the termination of your Continuous Service for Cause, as a
result of your Disability or death or by you other than as a result of
Constructive Termination; (ii) a reduction in your annual base compensation or
any failure to pay you any compensation or benefits to which you are entitled
within five (5) days of the date due; (iii) the Company's requiring you to
relocate to any place outside a twenty (20) mile radius of your current work
site, except for reasonably required travel on the business of the Company or
its Affiliates which is not materially greater than such travel requirements
prior to the Change in Control; (iv) the failure by the Company to (A) continue
in effect (without reduction in benefit level and/or reward opportunities) any
material compensation or employee benefit plan in which you were participating
at any time within ninety (90) days preceding the date of a Change in Control or
at any time thereafter, unless such plan is replaced with a plan that provides
substantially equivalent compensation or benefits to you, or (B) provide you
with compensation and benefits, in the aggregate, at least equal (in terms of
benefit levels and/or reward opportunities) to those provided for under each
other employee benefit plan, program and practice in which you were
participating at any time within ninety (90) days preceding the date of a Change
in Control or at any time thereafter; (v) any material breach by the Company of
any provision of an agreement between the Company and you, whether pursuant to
this Plan or otherwise, other than a breach which is cured by the Company within
fifteen (15) days following notice by you of such breach; or (vi) the failure of
the Company to obtain an

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<PAGE>   3

agreement, satisfactory to you, from any successors and assigns to assume and
agree to perform the obligations created under this Plan.

      For purposes of this subsection 1(a) only, Cause means the occurrence of
any of the following (and only the following): (i) your conviction of any felony
involving fraud or act of dishonesty against the Company or its Affiliates; (ii)
conduct by you which, based upon good faith and reasonable factual investigation
and determination of the Company (or, you are an Officer, of the Board),
demonstrates gross unfitness to serve; or (iii) your intentional, material
violation of any statutory or fiduciary duty that you have to the Company or its
Affiliates. In addition, if you are not an Officer, Cause also shall include
your poor performance of services for the Company or its Affiliates as
determined by the Company following (A) written notice to you describing the
nature of such deficiency and (b) your failure to cure such deficiency within
thirty (30) days following receipt of the such written notice.

      (b) PARACHUTE PAYMENTS. In the event that the acceleration of the vesting
and exercisability of the Stock Awards and/or the lapse of reacquisition or
repurchase rights with respect to Stock Awards provided for in subsection 1(a)
and benefits otherwise payable to you (i) constitute "parachute payments" within
the meaning of Section 280G of the Code, or any comparable successor provisions,
and (ii) but for this subsection would be subject to the excise tax imposed by
Section 4999 of the Code, or any interest or penalties payable with respect to
such excise tax (such excise tax, together with any such interest and penalties,
are hereinafter collectively referred to as the "Excise Tax"), then you shall be
entitled to receive from the Company an additional payment (the "Gross-Up
Payment") in an amount such that after payment by you of all taxes (including,
without limitation, any income and employment taxes and any interest and
penalties imposed with respect thereto) and the Excise Tax imposed upon the
Gross-Up Payment, you will retain an amount of the Gross-Up Payment equal to the
Excise Tax imposed upon the Gross-Up Payment.

      The accounting firm engaged by the Company for general audit purposes as
of the day prior to the effective date of the Change in Control shall perform
the foregoing calculations. If the accounting firm so engaged by the Company is
serving as accountant or auditor for the individual, entity or group effecting
the Change in Control, the Company shall appoint a nationally recognized
accounting firm to make the determinations required hereunder. The Company shall
bear all expenses with respect to the determinations by such accounting firm
required to be made hereunder.

      The accounting firm engaged to make the determinations hereunder shall
provide its calculations, together with detailed supporting documentation, to
the Company and you within fifteen (15) calendar days after the date on which
your right to a Payment is triggered (if requested at that time by the Company
or you) or such other time as requested by the Company or you. If the accounting
firm determines that no Excise Tax is payable with respect to a Payment, it
shall furnish the Company and you with an opinion reasonably acceptable to you
that no Excise Tax will be imposed with respect to such Payment.

      In the event that the excise tax incurred by you is determined by the
Internal Revenue Service to be greater or lesser than the amount so determined
by such accounting firm, then the

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<PAGE>   4

Company and you agree to promptly make such additional payment, including
interest and any tax penalties, to the other party as the accounting firm
reasonably determine is appropriate to ensure that the net economic effect to
you under this Section, on an after-tax basis, is as if the Code Section 4999
excise tax did not apply to you. For purposes of making the calculations
required by this Section, the accounting firm may make reasonable assumptions
and approximations concerning applicable taxes and may rely on interpretations
of the Code for which there is a "substantial authority" tax reporting position.
The Company and you shall furnish to the accounting firm such information and
documents the accounting firm may reasonably request in order to make a
determination under this Section. The Company shall bear all costs the
accounting firm may reasonably incur in connection with any calculations
contemplated by this Section.

      2.    NUMBER OF SHARES AND EXERCISE PRICE. The number of shares of Common
Stock subject to your option and your exercise price per share referenced in
your Grant Notice may be adjusted from time to time for Capitalization
Adjustments, as provided in the Plan.

      3.    EXERCISE PRIOR TO VESTING ("EARLY EXERCISE"). If permitted in your
Grant Notice (i.e., the "Exercise Schedule" indicates that "Early Exercise" of
your option is permitted) and subject to the provisions of your option, you may
elect at any time that is both (i) during the period of your Continuous Service
and (ii) during the term of your option, to exercise all or part of your option,
including the nonvested portion of your option; provided, however, that:

            (a)   a partial exercise of your option shall be deemed to cover
first vested shares of Common Stock and then the earliest vesting installment of
unvested shares of Common Stock;

            (b)   any shares of Common Stock so purchased from installments that
have not vested as of the date of exercise shall be subject to the purchase
option in favor of the Company as described in the Company's form of Early
Exercise Stock Purchase Agreement;

            (c)   you shall enter into the Company's form of Early Exercise
Stock Purchase Agreement with a vesting schedule that will result in the same
vesting as if no early exercise had occurred; and

            (d)   if your option is an incentive stock option, then, as provided
in the Plan, to the extent that the aggregate Fair Market Value (determined at
the time of grant) of the shares of Common Stock with respect to which your
option plus all other incentive stock options you hold are exercisable for the
first time by you during any calendar year (under all plans of the Company and
its Affiliates) exceeds one hundred thousand dollars ($100,000), your option(s)
or portions thereof that exceed such limit (according to the order in which they
were granted) shall be treated as nonstatutory stock options.

      4.    METHOD OF PAYMENT. Payment of the exercise price is due in full upon
exercise of all or any part of your option. You may elect to make payment of the
exercise price in cash or by check or in any other manner PERMITTED BY YOUR
GRANT NOTICE, which may include one or more of the following:

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<PAGE>   5

            (a)   In the Company's sole discretion at the time your option is
exercised and provided that at the time of exercise the Common Stock is publicly
traded and quoted regularly in The Wall Street Journal, pursuant to a program
developed under Regulation T as promulgated by the Federal Reserve Board that,,
prior to the issuance of Common Stock, results in either the receipt of cash (or
check) by the Company or the receipt of irrevocable instructions to pay the
aggregate exercise price to the Company from the sales proceeds.

            (b)   Provided that at the time of exercise the Common Stock is
publicly traded and quoted regularly in The Wall Street Journal, by delivery of
already-owned shares of Common Stock either that you have held for the period
required to avoid a charge to the Company's reported earnings (generally six
months) or that you did not acquire, directly or indirectly from the Company,
that are owned free and clear of any liens, claims, encumbrances or security
interests, and that are valued at Fair Market Value on the date of exercise.
"Delivery" for these purposes, in the sole discretion of the Company at the time
you exercise your option, shall include delivery to the Company of your
attestation of ownership of such shares of Common Stock in a form approved by
the Company. Notwithstanding the foregoing, you may not exercise your option by
tender to the Company of Common Stock to the extent such tender would violate
the provisions of any law, regulation or agreement restricting the redemption of
the Company's stock.

            (c)   Pursuant to the following deferred payment alternative:

                  (i)   Not less than one hundred percent (100%) of the
aggregate exercise price, plus accrued interest, shall be due four (4) years
from date of exercise or, at the Company's election, upon termination of your
Continuous Service for Cause.

                  (ii)  Interest shall be compounded at least annually and shall
be charged at the minimum rate of interest necessary to avoid the treatment as
interest, under any applicable provisions of the Code, of any portion of any
amounts other than amounts stated to be interest under the deferred payment
arrangement.

                  (iii) At any time that the Company is incorporated in
Delaware, payment of the Common Stock's "par value," as defined in the Delaware
General Corporation Law, shall be made in cash and not by deferred payment.

                  (iv)  In order to elect the deferred payment alternative, you
must, as a part of your written notice of exercise, give notice of the election
of this payment alternative and, in order to secure the payment of the deferred
exercise price to the Company hereunder, if the Company so requests, you must
tender to the Company a promissory note and a security agreement covering the
purchased shares of Common Stock, both in form and substance satisfactory to the
Company, or such other or additional documentation as the Company may request.

      5.    WHOLE SHARES. You may exercise your option only for whole shares of
Common Stock.

                                       5
<PAGE>   6

      6.    SECURITIES LAW COMPLIANCE. Notwithstanding anything to the contrary
contained herein, you may not exercise your option unless the shares of Common
Stock issuable upon such exercise are then registered under the Securities Act
or, if such shares of Common Stock are not then so registered, the Company has
determined that such exercise and issuance would be exempt from the registration
requirements of the Securities Act. The exercise of your option must also comply
with other applicable laws and regulations governing your option, and you may
not exercise your option if the Company determines that such exercise would not
be in material compliance with such laws and regulations.

      7.    TERM. You may not exercise your option before the commencement of
its term or after its term expires. The term of your option commences on the
Date of Grant and, except as set forth in Section 1(a), above, expires upon the
EARLIEST of the following:

            (a)   three (3) months after the termination of your Continuous
Service for any reason other than your Disability or death, provided that if
during any part of such three- (3-) month period your option is not exercisable
solely because of the condition set forth in the preceding paragraph relating to
"Securities Law Compliance," your option shall not expire until the earlier of
the Expiration Date or until it shall have been exercisable for an aggregate
period of three (3) months after the termination of your Continuous Service;

            (b)   twelve (12) months after the termination of your Continuous
Service due to your Disability;

            (c)   six (6) months after your death if you die either during your
Continuous Service or within three (3) months after your Continuous Service
terminates;

            (d)   the Expiration Date indicated in your Grant Notice; or

            (e)   the day before the tenth (10th) anniversary of the Date of
Grant.

      If your option is an incentive stock option, note that, to obtain the
federal income tax advantages associated with an "incentive stock option," the
Code requires that at all times beginning on the date of grant of your option
and ending on the day three (3) months before the date of your option's
exercise, you must be an employee of the Company or an Affiliate, except in the
event of your death or Disability. The Company has provided for extended
exercisability of your option under certain circumstances for your benefit but
cannot guarantee that your option will necessarily be treated as an "incentive
stock option" if you continue to provide services to the Company or an Affiliate
as a Consultant or Director after your employment terminates or if you otherwise
exercise your option more than three (3) months after the date your employment
terminates.

      8.    EXERCISE.

            (a)   You may exercise the vested portion of your option (and the
unvested portion of your option if your Grant Notice so permits) during its term
by delivering a Notice of Exercise (in a form designated by the Company)
together with the exercise price to the Secretary

                                       6
<PAGE>   7

of the Company, or to such other person as the Company may designate, during
regular business hours, together with such additional documents as the Company
may then require.

            (b)   By exercising your option you agree that, as a condition to
any exercise of your option, the Company may require you to enter into an
arrangement providing for the payment by you to the Company of any tax
withholding obligation of the Company arising by reason of (1) the exercise of
your option, (2) the lapse of any substantial risk of forfeiture to which the
shares of Common Stock are subject at the time of exercise, or (3) the
disposition of shares of Common Stock acquired upon such exercise.

            (c)   If your option is an incentive stock option, by exercising
your option you agree that you will notify the Company in writing within fifteen
(15) days after the date of any disposition of any of the shares of the Common
Stock issued upon exercise of your option that occurs within two (2) years after
the date of your option grant or within one (1) year after such shares of Common
Stock are transferred upon exercise of your option.

            (d)   By exercising your option you agree that the Company (or a
representative of the underwriter(s)) may, in connection with the first
underwritten registration of the offering of any securities of the Company under
the Securities Act, require that you not sell, dispose of, transfer, make any
short sale of, grant any option for the purchase of, or enter into any hedging
or similar transaction with the same economic effect as a sale, any shares of
Common Stock or other securities of the Company held by you, for a period of
time specified by the underwriters) (not to exceed one hundred eighty (180)
days) following the effective date of the registration statement of the Company
filed under the Securities Act. You further agree to execute and deliver such
other agreements as may be reasonably requested by the Company and/or the
underwriters) that are consistent with the foregoing or that are necessary to
give further effect thereto. In order to enforce the foregoing covenant, the
Company may impose stop-transfer instructions with respect to your shares of
Common Stock until the end of such period.

      9.    TRANSFERABILITY. Your option is not transferable, except by will or
by the laws of descent and distribution, and is exercisable during your life
only by you. Notwithstanding the foregoing, by delivering written notice to the
Company, in a form satisfactory to the Company, you may designate a third party
who, in the event of your death, shall thereafter be entitled to exercise your
option

      10.   RIGHT OF FIRST REFUSAL. At the Committee's discretion, Common Stock
issued pursuant to the exercise of an Option may be subject to a requirement
that if you propose to sell, pledge, or otherwise transfer any Common Stock
acquired pursuant to exercise of an Option, or any interest in such Common
Stock, to any person or entity, the Company will have a right of first refusal
(the "Right of First Refusal") with respect to such Common Stock. If you desire
to transfer Common Stock subject to the Right of First Refusal, then you will
give a written notice (the "Transfer Notice") to the Company describing fully
the proposed transfer, including the number of shares of Common Stock proposed
to be transferred, the proposed transfer price, and the name and address of the
proposed transferee. The Transfer Notice will be signed both by you and by the
proposed transferee and must constitute a binding commitment of both parties to
the transfer of the Common Stock. The Company will have the right to purchase

                                       7
<PAGE>   8

the Common Stock subject to the Transfer Notice on the terms of the proposal
referred to in the Transfer Notice, subject to any change in such terms
permitted under subsection 10(a), by delivery of a notice of exercise of the
Right of First Refusal within 30 days after the date the Transfer Notice is
received by the Company. The Company's rights under this Section 10 will be
freely assignable, in whole or in part.

            (a)   TRANSFER OF SHARES. If the Company fails to exercise the Right
of First Refusal within 30 days after the date on which it receives the Transfer
Notice, then you may, not later than six months following receipt of the
Transfer Notice by the Company, consummate a transfer of the Common Stock
subject to the Transfer Notice on the terms and conditions described in the
Transfer Notice. Any proposed transfer on terms and conditions different from
those described in the Transfer Notice, as well as any subsequent proposed
transfer by you, will again be subject to the Right of First Refusal and will
again require compliance with the procedure described in Section 10(a). If the
Company exercises its Right of First Refusal, then you will immediately endorse
and deliver to the Company every stock certificate representing the Common Stock
being purchased, and the Company will then promptly pay the purchase price in
accordance with the terms set forth in the Transfer Notice.

            (b)   REPURCHASE PAYMENT. The amount payable to you pursuant to the
Company's exercise of the Right of First Refusal will be paid to you in
accordance with the terms and conditions of the Transfer Notice or may, at the
election of the Company, be paid in full in cash.

            (c)   BINDING EFFECT. The Company's Right of First Refusal will
inure to the benefit of its successors and assigns and will be binding upon any
transferee of the Common Stock, other than a transferee acquiring Common Stock
in a transaction with respect to which the Company failed to exercise its Right
of First Refusal (a "Free Transferee") or a transferee of a Free Transferee.

            (d)   TERMINATION OF RIGHT OF FIRST REFUSAL. Notwithstanding any
other provision of this Section 10, if the Common Stock is listed on any United
States securities exchange or traded on any formal over-the-counter market in
general use in the United States at the time you desire to transfer your Common
Stock, the Company will no longer have the Right of First Refusal, and you will
have no obligation to comply with this Section 10.

      11.   RIGHT OF REPURCHASE. At the Committee's discretion, Common Stock
issued pursuant to the exercise of an Option may be subject to a right, but not
an obligation, of repurchase by the Corporation (the "Right of Repurchase"), at
the price specified in subsection 11(a), if you cease to be an Employee for any
reason ("Employment Termination") at any time after the grant of the Option
pursuant to which such Common Stock was issued. Common Stock issued by the
Company will only be transferable by you subject to the Right of Repurchase, and
the Company will legend the Right of Repurchase on the stock certificates
evidencing such shares of Common Stock and will take such other steps as it
deems necessary to ensure compliance with this restriction. The Company's rights
under this Section 11 will be freely assignable, in whole or in part.

                                       8
<PAGE>   9

            (a)   REPURCHASE PRICE. The price per share per share of Common
Stock at which the Company may exercise the Right of Repurchase under Section 11
(the "Repurchase Price") will be the higher of the exercise price of each share
of Common Stock as paid by you, or fair market value of the shares of Common
Stock on the date the Company sends the notice to you of its exercise of its
Right of Repurchase pursuant to Section 11, provided, however, that
notwithstanding the definition of "fair market value" in the Plan, if you do not
agree with the determination of fair market value by the Company's Board of
Directors, fair market value shall be determined by the dispute resolution
procedures set forth in Section 12 below independently of any determination of
the Company or its Board of Directors.

            (b)   REPURCHASE PROCEDURE. The Company may exercise its Right of
Repurchase by sending a written notice to you and to the Escrow Agent, if any,
of its taking such action and specifying the number of shares of Common Stock
being repurchased. The Company's Right of Repurchase will terminate if not
exercised by written notice from the Company to you within 30 days of the date
on which the Company learns of the Employment Termination or the last date any
Option granted to you is exercised, which ever is later. If the Company
exercises its Right of Repurchase, then you, or if applicable, the Escrow Agent,
will deliver to the Company every stock certificate representing the shares of
Common Stock being repurchased, together with appropriate Assignments Separate
from Certificates, and the Company will then promptly pay the total Repurchase
Price in cash (or cancellation of purchase money indebtedness for the Common
Stock, if applicable) to you, or if applicable, to the Escrow Agent, for
delivery to you.

            (c)   ELECTION TO DEFER PURCHASE OF INCENTIVE STOCK OPTION SHARES.

                  (i)   Notwithstanding the preceding provisions of this
Section 11, if shares of Common Stock were issued to you pursuant to an
Incentive Stock Option, then you may elect to defer the Company's repurchase of
such Common Stock pursuant to this Section 11 until the holding period
requirements of Section 422(a) of the Code are met. Such election will be in
writing in such form as the Committee may require and will be delivered to the
Company and to the Escrow Agent by certified mail no later than seven days after
the date on which you receive notice that the Company elects to exercise its
Right of Repurchase. Such election will pertain to all such Common Stock issued
to you and will be irrevocable.

                  (ii)  If you make the election described in subsection 11(c),
then the Company will repurchase such Common Stock on or before the date which
is 90 days following the earlier of the date on which you die or the date on
which the holding period requirements of Section 422(a) of the Code are met. The
Repurchase Price of each such share of Common Stock determined under subsection
11 (a) will be calculated by substituting for your Employment Termination date
the earlier of the date on which you die or the date on which such holding
period requirements are met.

            (d)   ESCROW. To facilitate the consummation of the Company's Right
of Repurchase under this Section 11, at the request of the Committee, you and
the Company will execute Joint Escrow Instructions and you will deliver and
deposit with the Escrow Agent named in the Joint Escrow Instructions two
"Assignments Separate from Certificate," together with all

                                       9
<PAGE>   10

certificates evidencing the shares of Common Stock issued to you pursuant to the
Plan, duly endorsed in blank. The Escrow Agent will hold such documents and
deliver the same to the Company pursuant to the Joint Escrow Instructions and in
accordance with the terms of this Section 11, as applicable.

            (e)   BINDING EFFECT. The Company's Right of Repurchase will inure
to the benefit of its successors and assigns and will be binding on any of your
representatives, executors, administrators, heirs, or legatees.

            (f)   PAYMENT OF NET AMOUNT OWING. Notwithstanding anything to the
contrary contained herein, if the Company determines to exercise its Rights of
Repurchase pursuant to this subsection before any Common Stock has been issued
as a result of an exercise of an Option, in lieu of issuing any Common Stock,
the Company will have the right, but not the obligation, to pay to you the net
amount owing to you.

            (g)   TERMINATION OF RIGHT OF REPURCHASE. Notwithstanding any other
provision of this Section 11, in the event that the Common Stock is listed on
any United States securities exchange or traded on any formal over-the-counter
market in general use in the United States at the time you would otherwise be
required to transfer your Common Stock, the Company will no longer have the
Right of Repurchase, and you will have no obligation to comply with this
Section 11.

      12.   DISPUTE RESOLUTION. In the event of any dispute arising under this
Agreement, authorized representatives of the Parties shall meet or communicate
by phone or otherwise no later than ten working days after receipt of notice by
either Party of request for dispute resolution and shall enter into good faith
negotiations aimed at resolving the dispute.

      At the end of such 10 days, if no agreement resolving the dispute has been
reached, any action arising out of or related to this Agreement, excluding
intellectual property disputes, shall be submitted to binding arbitration under
the then-current commercial arbitration rules of the American Arbitration
Association. The arbitration shall be conducted in San Diego California by three
arbitrators, each of whom shall be an expert in the area of the Internet
industry and not associated with either Party. Each party shall have the right
to select one such arbitrator, and the two selected arbitrators shall select the
third. The decision of the arbitrators shall be binding on the Parties, and
judgment in accordance with that decision may be entered in any court having
jurisdiction thereof. If there is any dispute concerning the fair market value
of Common Stock and the arbitrators decide that the fair market value is higher
than determined by the Company, then the Company shall pay all expenses
associated with such arbitration, including the expenses of the neutral
arbitrators. In all other cases, each party shall pay its own expenses
associated with such arbitration, but the Company shall pay 80% of the expenses
of the neutral arbitrators.

      13.   OPTION NOT A SERVICE CONTRACT. Your option is not an employment or
service contract, and nothing in your option shall be deemed to create in any
way whatsoever any obligation on your part to continue in the employ of the
Company or an Affiliate, or of the Company or an Affiliate to continue your
employment. In addition, nothing in your option shall obligate the Company or an
Affiliate, their respective shareholders, Boards of Directors, Officers

                                       10
<PAGE>   11

or Employees to continue any relationship that you might have as a Director or
Consultant for the Company or an Affiliate,

      14.   WITHHOLDING OBLIGATIONS.

            (a)   At the time you exercise your option, in whole or in part, or
at any time thereafter as requested by the Company, you hereby authorize
withholding from payroll and any other amounts payable to you, and otherwise
agree to make adequate provision for (including by means of a "cashless
exercise" pursuant to a program developed under Regulation T as promulgated by
the Federal Reserve Board to the extent permitted by the Company), any sums
required to satisfy the federal, state, local and foreign tax withholding
obligations of the Company or an Affiliate, if any, which arise in connection
with your option.

            (b)   Upon your request and subject to approval by the Company, in
its sole discretion, and compliance with any applicable conditions or
restrictions of law, the Company may withhold from fully vested shares of Common
Stock otherwise issuable to you upon the exercise of your option a number of
whole shares of Common Stock having a Fair Market Value, determined by the
Company as of the date of exercise, not in excess of the minimum amount of tax
required to be withheld by law. If the date of determination of any tax
withholding obligation is deferred to a date later than the date of exercise of
your option, share withholding pursuant to the preceding sentence shall not be
permitted unless you make a proper and timely election under Section 83(b) of
the Code, covering the aggregate number of shares of Common Stock acquired upon
such exercise with respect to which such determination is otherwise deferred, to
accelerate the determination of such tax withholding obligation to the date of
exercise of your option. Notwithstanding the filing of such election, shares of
Common Stock shall be withheld solely from fully vested shares of Common Stock
determined as of the date of exercise of your option that are otherwise issuable
to you upon such exercise. Any adverse consequences to you arising in connection
with such share withholding procedure shall be your sole responsibility.

            (c)   You may not exercise your option unless the tax withholding
obligations of the Company and/or any Affiliate are satisfied. Accordingly, you
may not be able to exercise your option when desired even though your option is
vested, and the Company shall have no obligation to issue a certificate for such
shares of Common Stock or release such shares of Common Stock from any escrow
provided for herein.

      15.   NOTICES. Any notices provided for in your option or the Plan shall
be given in writing and shall be deemed effectively given upon receipt or, in
the case of notices delivered by mail by the Company to you, five (5) days after
deposit in the United States mail, postage prepaid, addressed to you at the last
address you provided to the Company.

                                       11
<PAGE>   12

      16.   GOVERNING PLAN DOCUMENT. Except as set forth to the contrary herein,
our option is subject to all the provisions of the Plan, the provisions of which
are hereby made a part of your option, and is further subject to all
interpretations, amendments, rules and regulations which may from time to time
be promulgated and adopted pursuant to the Plan.

WEBSIDESTORY, INC.                          OPTIONHOLDER:

By:  /s/ MICHAEL CHRISTIAN                  /s/ JOHN J. HENTRICH
   ------------------------------------     -----------------------------------
                Signature                                Signature

Title:  Chief Operating Officer             Date: 11/19/99
      ---------------------------------          ------------------------------

Date:   November 19, 1999
     ----------------------------------

                                       12
<PAGE>   13

                               WEBSIDESTORY, INC.
                            STOCK OPTION GRANT NOTICE
                          (2000 EQUITY INCENTIVE PLAN)

WebSideStory, Inc. (the "Company"), pursuant to its 2000 Equity Incentive Plan
(the "Plan"), hereby grants to Optionholder an option to purchase the number of
shares of the Company's Common Stock set forth below. This option is subject to
all of the terms and conditions as set forth herein and in the Stock Option
Agreement, the Plan (except as set forth in the Stock Option Agreement), and the
Notice of Exercise, all of which are attached hereto and incorporated herein in
their entirety.

<TABLE>

                <S>                                         <C>
                Optionholder:                               John J. Hentrich
                Date of Grant:                              November 19, 1999
                Vesting Commencement Date:                  November 19, 1999
                Number of Shares Subject to Option:         1,500,000
                Exercise Price (Per Share):                 $1.10
                Total Exercise Price:                       $1,650,000
                Expiration Date:                            November 19, 2009
</TABLE>

TYPE OF GRANT:     [X] Incentive Stock Option(1)  [ ] Nonstatutory Stock Option

EXERCISE SCHEDULE: [X] Same as Vesting Schedule   [X] Early Exercise Permitted

VESTING SCHEDULE: 100,000 of the shares vest immediately upon the Vesting
                  Commencement Date. 1/156th of the remaining shares vest
                  weekly thereafter over the next three years; provided,
                  however, that, in the event that the Continuous Service of an
                  Optionholder terminates due to an involuntary termination (not
                  including death or Disability) without Cause (as defined in
                  the Option Agreement) or due to a Constructive Termination (as
                  defined in the Option Agreement), then the lesser of (a) an
                  additional 100,000 shares or (b) the total number of unvested
                  options, shall immediately vest, provided further, that in the
                  event of a Change in Control (as defined in the Option
                  Agreement), the lesser of (x) an additional 500,000 shares or
                  (y) the remaining unvested shares, shall immediately vest;
                  provided, further, that in the event that the Continuous
                  Service of Optionholder terminates due to an involuntary
                  termination (not including death or Disability) without Cause
                  (as defined in the Option Agreement) or due to a Constructive
                  Termination (as defined in the Option Agreement) within sixty
                  days prior to or any time after a Change of Control (or
                  agreement to effect a Change of Control), then all of the
                  unvested shares shall become immediately vested.

PAYMENT:          By one or a combination of the following items (described in
                  the Stock Option Agreement):

                       By cash or check
                       Pursuant to a Regulation T Program if the Shares are
                       publicly traded
                       By delivery of already-owned shares if the Shares are
                       publicly traded
                       By deferred payment

ADDITIONAL TERMS/ACKNOWLEDGEMENTS: The undersigned Optionholder acknowledges
receipt of, and understands and agrees to, this Grant Notice, the Stock Option
Agreement and the Plan. Optionholder further acknowledges that as of the Date of
Grant, this Grant Notice, the Stock Option Agreement and the Plan set forth the
entire understanding between Optionholder and the Company regarding the
acquisition of stock in the Company and supersede all prior oral and written
agreements on that subject with the exception of (i) options previously granted
and delivered to Optionholder under the Plan.

-----------------------
(1) If this is an incentive stock option, it (plus your other outstanding
incentive stock options) cannot be first exercisable for more than $100,000 in
any calendar year. Any excess over $100,000 is a nonstatutory stock option.

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