Document:

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                                                                    Exhibit 10.3

                              STORAGENETWORKS, INC.
                  2000 NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN

1.  Purpose.

     The purpose of this 2000 Non-Employee Director Stock Option Plan (the
"Plan") of StorageNetworks, Inc. (the "Company") is to advance the interests of
the Company's stockholders by enhancing the Company's ability to attract, retain
and motivate outside directors of the Company by providing such directors with
equity ownership opportunities and thereby better aligning the interests of such
directors with those of the Company's stockholders.

2.  Administration.

     The Board of Directors of the Company (the "Board") shall supervise and
administer the Plan.  Grants of stock options under the Plan and the amount and
nature of the awards to be granted shall be automatic in accordance with Section
5.  However, all questions concerning interpretation of the Plan or any options
granted under it shall be resolved by the Board.  The Board shall have authority
to adopt, amend and repeal such administrative rules, guidelines and practices
relating to the Plan as it shall deem advisable.  The Board may correct any
defect, supply any omission or reconcile any inconsistency in the Plan or any
option in the manner and to the extent it shall deem expedient to carry the Plan
into effect and it shall be the sole and final judge of such expediency.  No
member of the Board shall be liable for any action or determination relating to
the Plan.  All decisions by the Board shall be made in the Board's sole
discretion and shall be final and binding on all persons having or claiming any
interest in the Plan or in any option granted pursuant to the Plan.  No director
or person acting pursuant to the authority delegated by the Board shall be
liable for any action or determination under the Plan made in good faith.

3.  Participation in the Plan.

     Directors of the Company who are not full-time employees of the Company or
any subsidiary of the Company ("outside directors") shall be eligible to receive
options under the Plan.

4.  Stock Subject to the Plan.

     (a) Subject to adjustment under Section 7 below, 400,000 shares of common
stock, $.01 par value per share, of the Company (the "Common Stock") shall be
available for issuance under the Plan, increased annually on the first day of
March, beginning on March 1, 2001, by an amount equal to the number of shares of
Common Stock required to restore the total number of shares of Common Stock then
available for issuance upon exercise of options granted under the Plan to
400,000; provided, however, that the maximum number of shares issuable under the
Plan shall not exceed 4,000,000 shares of Common Stock.

     (b) If any outstanding option under the Plan for any reason expires or is
terminated, surrendered or canceled without having been exercised in full or is
forfeited in whole or in part

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or results in any Common Stock not being issued, the shares covered by the
unexercised portion of such option shall again become available for issuance
pursuant to the Plan. Shares issued under the Plan may consist in whole or in
part of authorized but unissued shares or treasury shares.

     (c) All options granted under the Plan shall be non-statutory options not
entitled to special tax treatment under Section 422 of the Internal Revenue Code
of 1986, as amended (the "Code").

5.  Terms, Conditions and Form of Options.

     Each option granted under the Plan shall be evidenced by a written
agreement in such form as the Board shall from time to time approve, which
agreements may contain terms and conditions in addition to but not inconsistent
with those set forth in the Plan.

     (a) Option Grant Dates.  Subject to adjustment as provided in Section 7,
options shall automatically be granted to all eligible outside directors as
follows:

          (i) each person who first becomes an eligible outside director after
the approval of the Plan by the Company's stockholders  shall be granted an
option (the "Initial Option") to purchase 25,000 shares of Common Stock on the
date of his or her initial election or appointment to the Board; and

          (ii)  each eligible outside director shall be granted an additional
option (the "Additional Option") to purchase 10,000 shares of Common Stock on
the date of each Annual Meeting of Stockholders of the Company commencing with
the first Annual Meeting of Stockholders following the Company's initial public
offering of Common Stock pursuant to an effective registration statement under
the Securities Act of 1933, as amended (each such date referred to herein as an
"Additional Option Grant Date"), provided that he or she is an eligible director
immediately prior to such Annual Meeting and continues to serve as a director
immediately following such Annual Meeting, and provided further that the
Additional Option Grant Date is at least six months after he or she received an
Initial Option.

     (b) Option Exercise Price.  The option exercise price per share of Common
Stock for each option granted under the Plan shall equal (i) the last reported
sales price per share of Common Stock on the Nasdaq National Market (or, if the
Company is traded on a nationally recognized securities exchange on the date of
grant, the reported closing sales price per share of Common Stock by such
exchange) on the date of grant (or if no such price is reported on such date
such price as reported on the nearest preceding day) or (ii) if the Common Stock
is not traded on the Nasdaq National Market or such an exchange, the fair market
value per share of Common Stock on the date of grant as determined by the Board.

     (c) Options Non-Transferable.  Except as the Board may otherwise determine
or provide in an option agreement, any option granted under the Plan to an
optionee shall not be sold, assigned, transferred, pledged or otherwise
encumbered by the person to whom it was granted, either voluntarily or by
operation of law, other than by will or the laws of descent and distribution and
shall be exercisable during the optionee's lifetime only by the optionee or the
optionee's guardian or legal representative.

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     (d)  Exercise Period.

          (i) Initial Options. Each Initial Option granted pursuant to Section
5(a)(i) of the Plan shall immediately become exercisable as to 100% of the
shares subject to the option on the date such option was granted, except that
any shares issued by the Company upon exercise of the option shall be subject to
a right of repurchase at the exercise price (the "Purchase Option") in favor of
the Company. The Company's Purchase Option shall be exercisable in the event the
director ceases to be a director of the Company and shall lapse as to one-half
of the shares on each of the first two anniversaries of the date the option was
granted.

          (ii) Additional Options. Each Additional Option granted pursuant to
Section 5(a)(ii) of the Plan shall immediately become exercisable as to 100% of
the shares subject to the option on the date such option was granted, except
that any shares issued upon exercise of the option shall be subject to a
Purchase Option in favor of the Company, similar to that described in Section
5(d)(i) above.

     (e) Termination.  Each option shall terminate, and may no longer be
exercised, on the earlier of the date (i) 10 years after the date such option
was granted or (ii) 60 days after the optionee ceases to serve as a director of
the Company; provided that, in the event an optionee ceases to serve as a
director due to his or her death or disability (within the meaning of Section
22(e)(3) of the Code or any successor provision), then the exercisable portion
of the option may be exercised within the period of 180 days following the date
the optionee ceases to serve as a director (but in no event later than 10 years
after the date such option was granted) by the optionee or by the person to whom
the option is transferred by will, by the laws of descent and distribution, or
by written notice pursuant to Section 5(g).

     (f) Exercise Procedure.  An option may be exercised only by written notice
to the Company at its principal office accompanied by payment of the full
consideration for the shares as to which the option is exercised.  Such payment
may be made as follows:

          (i) in cash or by check, payable to the order of the Company;

          (ii) in the sole discretion of the Board, by delivery of a promissory
note of the optionee to the Company on terms determined by the Board;

          (iii)  by payment of such other lawful consideration as the Board may
determine; or

          (iv) any combination of the above permitted forms of payment.

     (g) Exercise by Representative Following Death of Director.  An optionee,
by written notice to the Company, may designate one or more persons (and from
time to time change such designation), including his or her legal
representative, who, by reason of the optionee's death, shall acquire the right
to exercise all or a portion of the option.  If the person or persons so
designated wish to exercise any portion of the option, they must do so within
the term of the option as provided herein.  Any exercise by a representative
shall be subject to the provisions of the Plan.

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6.  Limitation of Rights.

     (a) No Right to Continue as a Director.  Neither the Plan, nor the granting
of an option nor any other action taken pursuant to the Plan, shall constitute
or be evidence of any agreement or understanding, express or implied, that the
Company will retain the optionee as a director for any period of time.

     (b) No Stockholder Rights for Options.  No optionee nor a designated
beneficiary thereof shall have any rights as a stockholder with respect to any
shares of Common Stock to be distributed with respect to an option until
becoming the record holder of such shares.

7.  Adjustments for Changes in Common Stock and Certain Other Events

     (a) Changes in Capitalization. In the event of any stock split, reverse
stock split, stock dividend, recapitalization, combination of shares,
reclassification of shares, spin-off or other similar change in capitalization
or event, or any distribution to holders of Common Stock other than a normal
cash dividend, (i) the number and class of securities available under this Plan,
(ii) the limits per optionee set forth in Section 5(a), and (iii) the number and
class of securities and exercise price per share subject to each outstanding
option, shall be appropriately adjusted by the Company to the extent the Board
shall determine, in good faith, that such an adjustment (or substitution) is
necessary and appropriate. If this Section 7(a) applies and Section 7(c) also
applies to any event, Section 7(c) shall be applicable to such event, and this
Section 7(a) shall not be applicable.

     (b) Liquidation or Dissolution. In the event of a proposed liquidation or
dissolution of the Company, the Board shall upon written notice to the optionees
provide that all then unexercised options will (i) become exercisable in full as
of a specified time at least 10 business days prior to the effective date of
such liquidation or dissolution and (ii) terminate effective upon such
liquidation or dissolution, except to the extent exercised before such effective
date.

     (c)  Acquisition Events

          (1) Definition. An "Acquisition Event" shall mean: (a) any merger or
consolidation of the Company with or into another entity as a result of which
the Common Stock is converted into or exchanged for the right to receive cash,
securities or other property or (b) any exchange of shares of the Company for
cash, securities or other property pursuant to a statutory share exchange
transaction.

          (2) Consequences of an Acquisition Event on Options. Upon the
occurrence of an Acquisition Event, or the execution by the Company of any
agreement with respect to an Acquisition Event, the Board shall provide that all
outstanding options shall be assumed, or equivalent options shall be
substituted, by the acquiring or succeeding corporation (or an affiliate
thereof). For purposes hereof, an option shall be considered to be assumed if,
following consummation of the Acquisition Event, the option confers the right to
purchase, for each share of Common Stock subject to the Option immediately prior
to the consummation of the Acquisition Event, the consideration (whether cash,
securities or other property) received as a result of the Acquisition Event by
holders of Common Stock for each share of Common Stock held immediately prior to
the consummation of the Acquisition Event (and if holders were offered a choice
of consideration, the type of consideration chosen by the holders of a majority
of the outstanding shares of Common Stock); provided, however, that if the
consideration received as a result of the Acquisition Event is not solely common
stock of the acquiring or succeeding corporation (or an affiliate thereof), the
Company may, with the consent of the acquiring or succeeding corporation,
provide for the consideration to be received upon the exercise of options to
consist solely of common stock of the acquiring or succeeding corporation (or an
affiliate thereof) equivalent in fair market value to the per share
consideration received by holders of outstanding shares of Common Stock as a
result of the Acquisition Event.

     Notwithstanding the foregoing, if the acquiring or succeeding corporation
(or an affiliate thereof) does not agree to assume, or substitute for, such
options, then the Board shall, upon written notice to the optionees, provide
that all then unexercised options will become exercisable in full as of a
specified time prior to the Acquisition Event and will terminate immediately
prior to the consummation of such Acquisition Event, except to the extent
exercised by the optionees before the consummation of such Acquisition Event;
provided, however, that in the event of an Acquisition Event under the terms of
which holders of Common Stock will receive upon consummation thereof a cash
payment for each share of Common Stock surrendered pursuant to such Acquisition
Event (the "Acquisition Price"), then the Board may instead provide that all
outstanding options shall terminate upon consummation of such Acquisition Event
and that each optionee shall receive, in exchange therefor, a cash payment
equal to the amount (if any) by which (A) the Acquisition Price multiplied by
the number of shares of Common Stock subject to such outstanding options
(whether or not then exercisable), exceeds (B) the aggregate exercise price of
such options.

8.  Modification, Extension and Renewal of Options.

     The Board may amend, modify or terminate any outstanding option, including
but not limited to, substituting therefor another option or changing the date of
exercise, provided that the optionee'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 optionee.

9.  Legends.

      The Company may at any time place legends referencing the Purchase Option
described in Section 5(d)(i) above and any applicable federal or state
securities law restrictions on all certificates representing shares of stock
subject to the provisions of this Plan.  The Optionee shall, at the request of
the Company, promptly present to the Company any and all certificates
representing shares acquired pursuant to an Award in the possession of a
Participant in order to effectuate the provisions of this paragraph.  Unless
otherwise specified by the Company, legends placed on such certificates may
include, but shall not be limited to, the following:

     "THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A PURCHASE
     OPTION IN FAVOR OF THE CORPORATION OR ITS ASSIGNEE SET FORTH IN AN
     AGREEMENT BETWEEN THE CORPORATION AND THE REGISTERED HOLDER, OR SUCH
     HOLDER'S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE
     PRINCIPAL OFFICE OF THE CORPORATION."

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10.  Fractional Shares.

     The Company shall not be required to issue fractional shares upon the
exercise of an Option.

11.  Amendment of the Plan.

     The Board may amend, suspend or terminate the Plan or any portion thereof
at any time, provided that no amendment shall be made without stockholder
approval if such approval is necessary to comply with any applicable tax or
regulatory requirements.  Amendments requiring stockholder approval shall become
effective when adopted by the Board.

12.  Withholding.

     Each optionee shall pay to the Company, or make provision satisfactory to
the Board for payment of, any taxes required by law to be withheld in connection
with options granted under the Plan to such optionee no later than the date of
the event creating the tax liability.  The Board may allow optionees to satisfy
such tax obligations in whole or in part in shares of Common Stock, including
shares retained from the option creating the tax obligation, valued at their
fair market value as determined by the Board in good faith.  The Company may, to
the extent permitted by law, deduct any such tax obligations from any payment of
any kind otherwise due to an optionee.

13.  Notice.

     Any written notice to the Company required by any of the provisions of the
Plan shall be addressed to the Treasurer of the Company and shall become
effective when it is received.

14.  Governing Law.

     The provisions of the Plan, all determinations made and actions taken
pursuant hereto and all options 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.

15.  Effective Date and Term of Plan.

     The Plan shall become effective on the date of approval by the stockholders
of the Company.  No options shall be granted under the Plan after the completion
of ten years from the earlier of (i) the date on which the Plan was adopted by
the Board or (ii) the date the Plan was approved by the Company's stockholders,
but options previously granted may extend beyond that date.

                    Adopted by the Board on March 22, 2000

                    Approved by the stockholders as of March 31, 2000

                                      -5-<PAGE>

                                                                   EXHIBIT 10.19

                             STORAGENETWORKS, INC.

                       2000 EMPLOYEE STOCK PURCHASE PLAN

     The purpose of this 2000 Employee Stock Purchase Plan (the "Plan") is to
provide eligible employees of StorageNetworks, Inc., a Delaware corporation (the
"Company"), and certain of its subsidiaries with opportunities to purchase
shares of the Company's common stock, $0.01 par value (the "Common Stock").
This Plan is intended to qualify as an "employee stock purchase plan" as defined
in Section 423 of the Internal Revenue Code of 1986, as amended (the "Code"),
and the regulations promulgated thereunder, and shall be interpreted consistent
therewith.

     1.  Administration.  The Plan will be administered by the Company's Board
of Directors (the "Board") or by a Committee appointed by the Board (the
"Committee").  The Board or the Committee has authority to make rules and
regulations for the administration of the Plan and its interpretation and
decisions with regard thereto shall be final and conclusive.

     2.  Eligibility.  All employees of the Company, including Board members who
are employees, and all employees of any subsidiary of the Company (as defined in
Section 424(f) of the Code) designated by the Board or the Committee from time
to time (a "Designated Subsidiary"), are eligible to participate in any one or
more of the offerings of Options (as defined in Section 9) to purchase Common
Stock under the Plan provided that:

          (a) they are customarily employed by the Company or a Designated
     Subsidiary for more than 20 hours a week and for more than five months in a
     calendar year; and

          (b) they were employed by the Company or a Designated Subsidiary on or
     before the date that is at least 30 days prior to the commencement of the
     offering; and

          (c) they are employees of the Company or a Designated Subsidiary on
     the first day of the applicable Plan Period (as defined below).

  No employee may be granted an option hereunder if such employee, immediately
after the option is granted, owns 5% or more of the total combined voting power
or value of the stock of the Company or any subsidiary.  For purposes of the
preceding sentence, the attribution rules of Section 424(d) of the Code shall
apply in determining the stock ownership of an employee, and all stock which the
employee has a contractual right to purchase shall be treated as stock owned by
the employee.
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     3.  Stock Subject to the Plan.  Subject to adjustment under Section 15
below,  1,000,000 shares of Common Stock may be issued under this Plan,
increased annually on the first day of March, beginning on March 1, 2001, by an
amount equal to the number of shares of Common Stock required to restore the
total number of shares of Common Stock then available for issuance under the
Plan to 1,000,000; provided, however, that the maximum number of shares issuable
under the Plan shall not exceed 10,000,000 shares of Common Stock.

     4.  Offerings.  The Company will make one or more offerings ("Offerings")
to employees to purchase stock under this Plan.  Offerings will begin on such
date or dates as may be established by the Board from time to time (the
"Offering Commencement Dates"), provided that the first Offering Commencement
Date shall be the later of (i) November 1, 2000, or (ii) such other date as the
Board of Directors in its discretion shall determine, if trading of the Common
Stock shall not have commenced on or prior to June 1, 2000 on the Nasdaq
National Market in connection with an initial public offering of Common Stock
pursuant to an effective registration statement under the Securities Act of
1933, as amended (the "Securities Act"), and the first Offering will terminate,
in the case of clause (i) above, on April 30, 2001, and in the case of (ii)
above, on such other date as the Board of Directors in its discretion shall
determine.  After the first Offering, each Offering Commencement Date will begin
a six-month period (a "Plan Period") during which payroll deductions will be
made and held for the purchase of Common Stock at the end of the Plan Period.
Unless the Board or the Committee in its  discretion, chooses a different Plan
Period, each Offering subsequent to the first Offering shall have a Plan Period
of six months, beginning on November 1 and May 1 of each year.

     5.  Participation.  An employee eligible on the Offering Commencement Date
of any Offering may participate in such Offering by completing and forwarding a
payroll deduction authorization form to the employee's appropriate payroll
office at least 14 days prior to the applicable Offering Commencement Date.  The
form will authorize a regular payroll deduction from the Compensation (as
defined below) received by the employee during the Plan Period.  Unless an
employee files a new form or withdraws from the Plan, his or her deductions and
purchases will continue at the same rate for future Offerings under the Plan as
long as the Plan remains in effect.  The term "Compensation" means the amount of
money reportable on the employee's Federal Income Tax Withholding Statement,
excluding overtime, shift premium, sales commissions, incentive or bonus awards,
allowances and reimbursements for expenses such as relocation allowances for
travel expenses, income or gains on the exercise of Company stock options or
stock appreciation rights, and similar items, whether or not shown on the
employee's Federal Income Tax Withholding Statement.

     6.  Deductions.  The Company will maintain payroll deduction accounts for
all participating employees.  With respect to any Offering made under this Plan,
an employee may authorize a payroll deduction, as set forth below, from the
Compensation he or she receives during the Plan Period or such shorter period
during which deductions from payroll are made.  Payroll deductions may be at the
rate of 1%, 2%, 3%, 4%, 5%, 6%, 7%, 8%, 9% or 10% of Compensation.

                                      -2-
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  No employee may be granted an Option (as defined in Section 9) which permits
his or her rights to purchase Common Stock under this Plan and any other
employee stock purchase plan (as defined in Section 423(b) of the Code) of the
Company and its subsidiaries, to accrue at a rate which exceeds $25,000 of the
fair market value of such Common Stock (determined at the Offering Commencement
Date of the Plan Period) for each calendar year in which the Option is
outstanding at any time.

     7.  Deduction Changes.  An employee may decrease or discontinue his or her
payroll deduction once during any Plan Period, by filing a new payroll deduction
authorization form.  However, an employee may not increase his or her payroll
deduction during a Plan Period.  If an employee elects to discontinue his or her
payroll deductions during a Plan Period, but does not elect to withdraw his or
her funds pursuant to Section 8 hereof, funds deducted prior to his or her
election to discontinue will be applied to the purchase of Common Stock on the
Exercise Date (as defined below).

     8.  Interest.  Interest will not be paid on any employee accounts, except
to the extent that the Board or the Committee, in its sole discretion, elects to
credit employee accounts with interest at such per annum rate as it may from
time to time determine.

     9.  Withdrawal of Funds.  An employee may at any time prior to the close of
business on the last business day in a Plan Period and for any reason
permanently draw out the balance accumulated in the employee's account and
thereby withdraw from participation in an Offering.  Partial withdrawals are not
permitted.  The employee may not begin participation again during the remainder
of the Plan Period.  The employee may participate in any subsequent Offering in
accordance with terms and conditions established by the Board or the Committee.

     10.  Purchase of Shares.  On the Offering Commencement Date of each Plan
Period, the Company will grant to each eligible employee who is then a
participant in the Plan an option ("Option") to purchase on the last business
day of such Plan Period (the "Exercise Date"), at the Option Price hereinafter
provided for, the largest number of whole shares of Common Stock of the Company
as does not exceed the number of shares determined by multiplying $2,083 by the
number of full months in the Offering Period and dividing the result by the
closing price (as defined below) on the Offering Commencement Date of such Plan
Period.

  The purchase price for each share purchased will be 85% of the closing price
of the Common Stock on (i) the first business day of such Plan Period or (ii)
the Exercise Date, whichever closing price shall be less.  Such closing price
shall be (a) the closing price on any national securities exchange on which the
Common Stock is listed, (b) the closing price of the Common Stock on the Nasdaq
National Market or (c) the average of the closing bid and asked prices in the
over-the-counter-market, whichever is applicable, as published in The Wall
Street Journal.  If no sales of Common Stock were made on such a day, the price
of the Common Stock for purposes of clauses (a) and (b) above shall be the
reported price for the next preceding day on which sales were made.  Each
employee who continues to be a participant in the Plan on the Exercise Date
shall be deemed to have exercised his or her Option at the Option Price on such
date and shall be deemed to have purchased from the Company the number of full
shares of Common Stock reserved for the purpose of the Plan that his or her
accumulated payroll

                                      -3-
<PAGE>

deductions on such date will pay for, but not in excess of the maximum number
determined in the manner set forth above.

  Any balance remaining in an employee's payroll deduction account at the end of
a Plan Period will be automatically refunded to the employee, except that any
balance which is less than the purchase price of one share of Common Stock will
be carried forward into the employee's payroll deduction account for the
following Offering, unless the employee elects not to participate in the
following Offering under the Plan, in which case the balance in the employee's
account shall be refunded to the employee.

     10.  Issuance of Certificates.  Certificates representing shares of Common
Stock purchased under the Plan may be issued only in the name of the employee,
in the name of the employee and another person of legal age as joint tenants
with rights of survivorship, or (in the Company's sole discretion) in the name
of a brokerage firm, bank or other nominee holder designated by the employee.
The Company may, in its sole discretion and in compliance with applicable laws,
authorize the use of book entry registration of shares in lieu of issuing stock
certificates.

     11.  Rights on Retirement, Death or Termination of Employment.  In the
event of a participating employee's termination of employment prior to the last
business day of a Plan Period, no payroll deduction shall be taken from any pay
due and owing to an employee and the balance in the employee's account shall be
paid to the employee or, in the event of the employee's death, (a) to a
beneficiary previously designated in a revocable notice signed by the employee
(with any spousal consent required under state law), (b) in the absence of such
a designated beneficiary, to the executor or administrator of the employee's
estate or (c) if no such executor or administrator has been appointed to the
knowledge of the Company, to such other person(s) as the Company may, in its
discretion, designate.  If, prior to the last business day of the Plan Period,
the Designated Subsidiary by which an employee is employed shall cease to be a
subsidiary of the Company, or if the employee is transferred to a subsidiary of
the Company that is not a Designated Subsidiary, the employee shall be deemed to
have terminated employment for the purposes of this Plan.

     12.  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 of Common Stock covered by an Option under this Plan
until such shares have been purchased by and issued to him or her.

     13.  Rights Not Transferable.  Rights under this Plan are not transferable
by a participating employee other than by will or the laws of descent and
distribution, and are exercisable during the employee's lifetime only by the
employee.

     14.  Application of Funds.  All funds received or held by the Company under
this Plan may be combined with other corporate funds and may be used for any
corporate purpose.

     15.  Adjustment in Case of Changes Affecting Common Stock.  In the event of
any stock split, stock dividend, recapitalization, reorganization, merger,
consolidation, combination, exchange of shares, liquidation, spin-off or other
similar change in capitalization or event, or any

                                      -4-
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distribution to holders of Common Stock other than a normal cash dividend, the
number of shares approved for this Plan, the number of shares subject to any
outstanding Option and the purchase price thereof shall be adjusted
proportionately, and such other adjustment shall be made as may be deemed
equitable by the Board or the Committee. In the event of any other change
affecting the Common Stock, such adjustment shall be made as may be deemed
equitable by the Board or the Committee to give proper effect to such event.

     16.  Merger.  If the Company shall at any time merge or consolidate with
another corporation and the holders of the capital stock of the Company
immediately prior to such merger or consolidation continue to hold at least 80%
by voting power of the capital stock of the surviving corporation ("Continuity
of Control"), the holder of each Option then outstanding will thereafter be
entitled to receive at the next Exercise Date upon the exercise of such Option
for each share as to which such Option shall be exercised the securities or
property which a holder of one share of the Common Stock was entitled to upon
and at the time of such merger or consolidation, and the Board or the Committee
shall take such steps in connection with such merger or consolidation as the
Board or the Committee shall deem necessary to assure that the provisions of
Section 15 shall thereafter be applicable, as nearly as reasonably may be, in
relation to the said securities or property as to which such holder of such
Option might thereafter be entitled to receive thereunder.

  In the event of a merger or consolidation of the Company with or into another
corporation which does not involve Continuity of Control, or of a sale of all or
substantially all of the assets of the Company while unexercised Options remain
outstanding under the Plan, all outstanding Options shall be cancelled by the
Board or the Committee as of the effective date of any such transaction,
provided that notice of such cancellation shall be given to each holder of an
Option, and each holder of an Option shall have the right to exercise such
Option in full based on payroll deductions then credited to his or her account
as of a date determined by the Board or the Committee, which date shall not be
less than ten (10) days preceding the effective date of such transaction.

     17.  Amendment of the Plan.  The Board may at any time, and from time to
time, amend this Plan in any respect, except that (a) if the approval of any
such amendment by the stockholders of the Company is required by Section 423 of
the Code, such amendment shall not be effected without such approval, and (b) in
no event may any amendment be made which would cause the Plan to fail to comply
with Section 423 of the Code.

     18.  Insufficient Shares.  In the event that the total number of shares of
Common Stock specified in elections to be purchased under any Offering plus the
number of shares purchased under previous Offerings under this Plan exceeds the
maximum number of shares issuable under this Plan, the Board or the Committee
will allot the shares then available on a pro rata basis.

     19.  Termination of the Plan.  This Plan may be terminated at any time by
the Board.  Upon termination of this Plan all amounts in the accounts of
participating employees shall be promptly refunded.

     20.  Governmental Regulations.  The Company's obligation to sell and
deliver Common Stock under this Plan is subject to listing on a national stock
exchange or quotation on

                                      -5-
<PAGE>

the Nasdaq National Market and the approval of all governmental authorities
required in connection with the authorization, issuance or sale of such stock.

     21.  Governing Law.  The Plan shall be governed by Delaware law except to
the extent that such law is preempted by federal law.

     22.  Issuance of Shares.  Shares may be issued upon exercise of an Option
from authorized but unissued Common Stock, from shares held in the treasury of
the Company, or from any other proper source.

     23.  Notification upon Sale of Shares.  Each employee agrees, by entering
the Plan, to promptly give the Company notice of any disposition of shares
purchased under the Plan where such disposition occurs within two years after
the date of grant of the Option pursuant to which such shares were purchased or
one year after the date of exercise of the Option.

     24.  Effective Date and Approval of Stockholders.  The Plan shall take
effect upon the effectiveness of the Company's registration statement under the
Securities Act relating to the Company's initial public offering of Common
Stock.

                                         Approved by the Board of Directors on
                                         March 22, 2000

                                         Approved by the Stockholders as of
                                         March 31, 2000

                                      -6-

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