Document:

exv10w33

 

EXHIBIT 10.33

REGISTRATION RIGHTS AGREEMENT

Dated July 6, 2004

AMONG

FELCOR LODGING LIMITED PARTNERSHIP,

FELCOR LODGING TRUST INCORPORATED,

and

THE INITIAL PURCHASER NAMED HEREIN

 

 

REGISTRATION RIGHTS AGREEMENT

          THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered
into as of July 6, 2004, among FELCOR LODGING LIMITED PARTNERSHIP, a Delaware
limited partnership (the “Operating Partnership”), FELCOR LODGING TRUST
INCORPORATED, a Maryland corporation (“FelCor” and, together with the Operating
Partnership, the “Company”) and DEUTSCHE BANK SECURITIES INC., as initial
purchaser (the “Initial Purchaser”).

          This Agreement is made pursuant to the Purchase Agreement dated as of June
24, 2004, among the Operating Partnership, FelCor, the Subsidiary Guarantors
and the Initial Purchaser (the “Purchase Agreement”), which provides for the
sale by the Operating Partnership to the Initial Purchaser of $115,000,000
aggregate principal amount of Senior Floating Rate Notes due 2011 of the
Operating Partnership (the “Notes”) to be issued pursuant to the Indenture (as
defined below). The Notes will be guaranteed by FelCor and the Subsidiary
Guarantors (as defined below) so long as they are obligors on other
indebtedness of FelCor and the Operating Partnership which is pari passu with,
or subordinated to, the Notes. In order to induce the Initial Purchaser to
enter into the Purchase Agreement, the Company has agreed to provide to the
Initial Purchaser and their direct and indirect transferees the registration
rights with respect to the Notes set forth in this Agreement. The execution of
this Agreement is a condition to the closing under the Purchase Agreement.

          In consideration of the foregoing, the parties hereto agree as follows:

          1. Definitions. As used in this Agreement, the following capitalized
defined terms shall have the following meanings:

          “1933 Act” shall mean the Securities Act of 1933, as amended from time to
time.

          “1934 Act” shall mean the Securities Exchange Act of 1934, as amended from
time to time.

          “Closing Date” shall mean the Closing Date as defined in the Purchase
Agreement.

          “Company” shall have the meaning set forth in the preamble to this
Agreement and shall also include the Company’s successors.

          “Exchange Notes” shall mean Notes issued by the Operating Partnership
under the Indenture containing terms identical to the Notes (except that (i)
interest thereon shall accrue from the last date on which interest was paid on
the Notes or, if no such interest has

 

 

been paid, from May 26, 2004, (ii) the Exchange Notes will not contain
restrictions on transfer and (iii) certain provisions relating to an increase
in the stated rate of interest thereon shall be eliminated) and to be offered
to Holders of Notes in exchange for Notes pursuant to the Exchange Offer.

          “Exchange Offer” shall mean the exchange offer by the Company of Exchange
Notes for Registrable Notes pursuant to Section 2(a) hereof.

          “Exchange Offer Registration” shall mean a registration under the 1933 Act
effected pursuant to Section 2(a) hereof.

          “Exchange Offer Registration Statement” shall mean an exchange offer
registration statement on Form S-4 (or, if applicable, on another appropriate
form) and all amendments and supplements to such registration statement, in
each case including the Prospectus contained therein, all exhibits thereto and
all material incorporated by reference therein.

          “Holder” shall mean the Initial Purchaser, for so long as it owns any
Registrable Notes, and its successors, assigns and direct and indirect
transferees who become registered owners of Registrable Notes under the
Indenture; provided that for purposes of Sections 4 and 5 of this Agreement,
the term “Holder” shall include Participating Broker-Dealers (as defined in
Section 4(a)).

          “Indenture” shall mean the Indenture relating to the Notes dated as of May
26, 2004 between the Operating Partnership, FelCor, the Subsidiary Guarantors
and SunTrust Bank, as trustee, and as the same may be amended or supplemented
from time to time in accordance with the terms thereof.

          “Initial Purchaser” shall have the meaning set forth in the preamble to
this Agreement.

          “Majority Holders” shall mean the Holders of a majority of the aggregate
principal amount of outstanding Registrable Notes; provided that whenever the
consent or approval of Holders of a specified percentage of Registrable Notes
is required hereunder, Registrable Notes held by the Company or any of its
affiliates (as such term is defined in Rule 405 under the 1933 Act) (other than
the Initial Purchaser or subsequent holders of Registrable Notes if such
subsequent holders are deemed to be such affiliates solely by reason of their
holding of such Registrable Notes) shall not be counted in determining whether
such consent or approval was given by the Holders of such required percentage
or amount.

          “Notes” shall have the meaning set forth in the second paragraph of this
Agreement.
 
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\

          “Person” shall mean an individual, partnership, corporation, trust or
unincorporated organization, or a government or agency or political subdivision
thereof.

          “Prospectus” shall mean the prospectus included in a Registration
Statement, including any preliminary prospectus, and any such prospectus as
amended or supplemented by any prospectus supplement, including a prospectus
supplement with respect to the terms of the offering of any portion of the
Registrable Notes covered by a Shelf Registration Statement, and by all other
amendments and supplements to such prospectus, including post-effective
amendments, and in each case including all material incorporated by reference
therein.

          “Purchase Agreement” shall have the meaning set forth in the second
paragraph of this Agreement.

          “Registrable Notes” shall mean the Notes other than the Exchanges Notes;
provided, however, that a Note shall cease to be a Registrable Note (i) when a
Registration Statement with respect to such Note shall have been declared
effective under the 1933 Act and such Note shall have been disposed of pursuant
to such Registration Statement, (ii) when such Note has been sold to the public
pursuant to Rule 144(k) (or any similar provision then in force, but not Rule
144A) under the 1933 Act or (iii) when such Note shall have ceased to be
outstanding.

          “Registration Expenses” shall mean any and all expenses incident to
performance of or compliance by the Company with this Agreement, including
without limitation: (i) all SEC, stock exchange or National Association of
Securities Dealers, Inc. (the “NASD”) registration and filing fees, (ii) all
fees and expenses incurred in connection with compliance with state securities
or blue sky laws (including reasonable fees and disbursements of counsel for
any underwriters or Holders in connection with blue sky qualification of any of
the Exchange Notes or Registrable Notes), (iii) all expenses of any Persons in
preparing or assisting in preparing, word processing, printing and distributing
any Registration Statement, any Prospectus, any amendments or supplements
thereto, any underwriting agreements, securities sales agreements and other
documents relating to the performance of and compliance with this Agreement,
(iv) all rating agency fees, (v) all fees and disbursements relating to the
qualification of the Indenture under applicable securities laws, (vi) the fees
and disbursements of the Trustee and its counsel, (vii) the fees and
disbursements of counsel for the Company and, in the case of a Shelf
Registration Statement, the reasonable fees and disbursements of one counsel
for the Holders (which counsel shall be selected by the Majority Holders and
which counsel may also be counsel for the Initial Purchaser) and (viii) the
fees and disbursements of the independent public accountants of the Company,
including the expenses of any special audits or “cold comfort” letters required
by or incident to such performance and compliance, but excluding fees and
expenses of counsel to the underwriters (other than reasonable fees and
expenses set forth in clause (ii) above) or the Holders and
underwrit-

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ing discounts and commissions and transfer taxes, if any, relating to the
sale or disposition of Registrable Notes by a Holder.

          “Registration Statement” shall mean any registration statement of FelCor
and the Operating Partnership that covers any of the Exchange Notes or
Registrable Notes pursuant to the provisions of this Agreement and all
amendments and supplements to any such Registration Statement, including
post-effective amendments, in each case including the Prospectus contained
therein, all exhibits thereto and all material incorporated by reference
therein.

          “SEC” shall mean the Securities and Exchange Commission.

          “Shelf Registration” shall mean a registration effected pursuant to
Section 2(b) hereof.

          “Shelf Registration Statement” shall mean a “shelf” registration statement
of the Company pursuant to the provisions of Section 2(b) of this Agreement
which covers all of the Registrable Notes (but no other Notes unless approved
by the Holders whose Registrable Notes are covered by such Shelf Registration
Statement) on an appropriate form under Rule 415 under the 1933 Act, or any
similar rule that may be adopted by the SEC, and all amendments and supplements
to such registration statement, including post-effective amendments, in each
case including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein.

          “Subsidiary Guarantors” shall mean each of (i) FelCor/CSS Hotels, L.L.C.,
a Delaware limited liability company, (ii) FelCor/LAX Hotels, L.L.C., a
Delaware limited liability company, (iii) FelCor/CSS Holdings, L.P., a Delaware
limited partnership, (iv) FelCor/St. Paul Holdings, L.P., a Delaware limited
partnership, (v) FelCor/LAX Holdings, L.P., a Delaware limited partnership,
(vi) FelCor Eight Hotels, L.L.C., a Delaware limited liability company, (vii)
FelCor Hotel Asset Company, L.L.C., a Delaware limited liability company,
(viii) FelCor Nevada Holdings, L.L.C., a Nevada limited liability company, (ix)
FHAC Nevada Holdings, L.L.C., a Nevada limited liability company, (x) FHAC
Texas Holdings, L.P., a Texas limited partnership, (xi) FelCor Omaha Hotel
Company, L.L.C., a Delaware limited liability company, (xii) FelCor Country
Villa Hotel, L.L.C., a Delaware limited liability company, (xiii) FelCor Moline
Hotel, L.L.C., a Delaware limited liability company, (xiv) FelCor Canada Co., a
Nova Scotia unlimited liability company, (xv) Kingston Plantation Development
Corp., a Delaware corporation, (xvi) FelCor TRS Holdings, L.P., a Delaware
limited partnership, and (xvii) FelCor Holdings Trust, a Massachusetts business
trust, and each other entity that becomes a Subsidiary Guarantor in accordance
with the terms of the Indenture.

          “Trustee” shall mean the trustee with respect to the Notes under the
Indenture.

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          “Underwritten Registration” or “Underwritten Offering” shall mean a
registration in which Registrable Notes are sold to an Underwriter (as
hereinafter defined) for reoffering to the public.

          2. Registration Under The 1933 Act. (a) To the extent not prohibited by
any applicable law or applicable interpretation of the Staff of the SEC, the
Company shall cause to be filed after the Closing Date an Exchange Offer
Registration Statement covering the offer by the Company to the Holders to
exchange all of the Registrable Notes for Exchange Notes, use its commercially
reasonable efforts to have such Registration Statement declared effective by
the SEC, and to have such Exchange Offer Registration Statement remain
effective until the closing of the Exchange Offer. The Company shall commence
the Exchange Offer promptly after the Exchange Offer Registration Statement has
been declared effective by the SEC and use its commercially reasonable efforts
to have the Exchange Offer consummated not later than November 22, 2004. The
Company shall commence the Exchange Offer by mailing the related exchange offer
Prospectus and accompanying documents to each Holder stating, in addition to
such other disclosures as are required by applicable law:

     (i) that the Exchange Offer is being made pursuant to this Agreement
and that all Registrable Notes validly tendered will be accepted for
exchange;

     (ii) the dates of acceptance for exchange (which shall be a period
of at least 20 business days from the date such notice is mailed) (the
“Exchange Dates”);

     (iii) that any Registrable Note not tendered will remain outstanding
and continue to accrue interest in accordance with the terms of the
Notes, but will not retain any rights under this Agreement;

     (iv) that Holders electing to have a Registrable Note exchanged
pursuant to the Exchange Offer will be required to surrender such
Registrable Note, together with the enclosed letters of transmittal, to
the institution and at the address located in the Borough of Manhattan,
The City of New York, specified in the notice prior to the close of
business on the last Exchange Date; and

     (v) that Holders will be entitled to withdraw their election, not
later than the close of business on the last Exchange Date, by sending to
the institution and at the address located in the Borough of Manhattan,
The City of New York, specified in the notice a telegram, telex,
facsimile transmission or letter setting forth the name of such Holder,
the principal amount of Registrable Notes delivered for exchange and a
statement that such Holder is withdrawing his election to have such Notes
exchanged.

     As soon as practicable after the last Exchange Date, the Company shall:
 
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     (i) accept for exchange Registrable Notes or portions thereof
tendered and not validly withdrawn pursuant to the Exchange Offer; and

     (ii) deliver, or cause to be delivered, to the Trustee for
cancellation all Registrable Notes or portions thereof so accepted for
exchange by the Company and issue, and cause the Trustee to promptly
authenticate and mail to each Holder, an Exchange Note equal in principal
amount to the principal amount of the Registrable Notes surrendered by
such Holder.

The Company shall use its commercially reasonable efforts to complete the
Exchange Offer as provided above and shall comply with the applicable
requirements of the 1933 Act, the 1934 Act and other applicable laws and
regulations in connection with the Exchange Offer. The Exchange Offer shall
not be subject to any conditions, other than that the Exchange Offer does not
violate applicable law or any applicable interpretation of the Staff of the
SEC. The Company shall inform the Initial Purchaser, if requested by the
Initial Purchaser, of the names and addresses of the Holders to whom the
Exchange Offer is made, and the Initial Purchaser shall have the right, subject
to applicable law, to contact such Holders and otherwise facilitate the tender
of Registrable Notes in the Exchange Offer.

          (b) In the event that (i) the Company determines that the Exchange Offer
Registration provided for in Section 2(a) above is not available or may not be
consummated as soon as practicable after the last Exchange Date because it
would violate applicable law or the applicable interpretations of the Staff of
the SEC, (ii) the Exchange Offer is not for any other reason consummated on or
prior to November 22, 2004, or (iii) in the opinion of counsel for the Initial
Purchaser a Registration Statement must be filed and a Prospectus must be
delivered by the Initial Purchaser in connection with any offering or sale of
Registrable Notes, the Company shall cause to be filed as soon as practicable
after such determination, date or notice of such opinion of counsel is given to
the Company, a Shelf Registration Statement providing for the sale by the
Holders of all of the Registrable Notes and use its commercially reasonable
efforts to have such Shelf Registration Statement declared effective by the
SEC. In the event the Company is required to file a Shelf Registration
Statement solely as a result of the matters referred to in clause (iii) of the
preceding sentence, the Company shall file and use its commercially reasonable
efforts to have declared effective by the SEC both an Exchange Offer
Registration Statement pursuant to Section 2(a) with respect to all Registrable
Notes and a Shelf Registration Statement (which may be a combined Registration
Statement with the Exchange Offer Registration Statement) with respect to
offers and sales of Registrable Notes held by the Initial Purchaser after
completion of the Exchange Offer. The Company agrees to use its commercially
reasonable efforts to keep the Shelf Registration Statement continuously
effective until the expiration of the period referred to in Rule 144(k) with
respect to all Registrable Notes covered by the Shelf Registration Statement or
such shorter period that will terminate when all of the Registrable Notes
covered by the Shelf Registration Statement have been sold pursuant to the
Shelf Registration Statement. The Company further

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agrees to supplement or amend the Shelf Registration Statement if required
by the rules, regulations or instructions applicable to the registration form
used by the Company for such Shelf Registration Statement or by the 1933 Act or
by any other rules and regulations thereunder for shelf registration or if
reasonably requested by a Holder with respect to information relating to such
Holder, and to use its commercially reasonable efforts to cause any such
amendment to become effective and such Shelf Registration Statement to become
usable as soon as thereafter practicable. The Company agrees to furnish to the
Holders of Registrable Notes copies of any such supplement or amendment
promptly after its being used or filed with the SEC.

          (c) The Company shall pay all Registration Expenses in connection with the
registration pursuant to Section 2(a) or Section 2(b). Each Holder shall pay
all underwriting discounts and commissions and transfer taxes, if any, relating
to the sale or disposition of such Holder’s Registrable Notes pursuant to the
Shelf Registration Statement.

          (d) An Exchange Offer Registration Statement pursuant to Section 2(a)
hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof will
not be deemed to have become effective unless it has been declared effective by
the SEC; provided, however, that, if, after it has been declared effective, the
offering of Registrable Notes pursuant to a Shelf Registration Statement is
interfered with by any stop order, injunction or other order or requirement of
the SEC or any other governmental agency or court, such Registration Statement
will be deemed not to have become effective during the period of such
interference until the offering of Registrable Notes pursuant to such
Registration Statement may legally resume. As provided for in the Indenture, in
the event that the Exchange Offer is not consummated, and if a Shelf
Registration Statement is required hereby, the Shelf Registration Statement is
not declared effective on or prior to November 22, 2004, the interest rate on
the Notes (and the Exchange Notes) will increase by 0.5% per annum until the
Exchange Offer is consummated or a Shelf Registration Statement is declared
effective.

          (e) Without limiting the remedies available to the Initial Purchaser and
the Holders, the Company acknowledges that any failure by the Company to comply
with its obligations under Section 2(a) and Section 2(b) hereof may result in
material irreparable injury to the Initial Purchaser or the Holders for which
there is no adequate remedy at law, that it will not be possible to measure
damages for such injuries precisely and that, in the event of any such failure,
the Initial Purchaser or any Holder may obtain such relief as may be required
to specifically enforce the Company’s obligations under Section 2(a) and
Section 2(b) hereof.

          3. Registration Procedures. In connection with the obligations of the
Company with respect to the Registration Statements pursuant to Section 2(a)
and Section 2(b) hereof, the Company shall as expeditiously as possible:

     (a) prepare and file with the SEC a Registration Statement on the
appropriate form under the 1933 Act, which form (x) shall be selected by
the Company and (y) shall, in the case of a Shelf Registration, be
available for the sale of the Registrable

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Notes by the selling Holders thereof and (z) shall comply as to form
in all material respects with the requirements of the applicable form and
include all financial statements required by the SEC to be filed
therewith, and use its commercially reasonable efforts to cause such
Registration Statement to become effective and remain effective in
accordance with Section 2 hereof;

     (b) prepare and file with the SEC such amendments and post-effective
amendments to each Registration Statement as may be necessary to keep
such Registration Statement effective for the applicable period and cause
each Prospectus to be supplemented by any required prospectus supplement
and, as so supplemented, to be filed pursuant to Rule 424 under the 1933
Act; to keep each Prospectus current during the period described under
Section 4(3) and Rule 174 under the 1933 Act that is applicable to
transactions by brokers or dealers with respect to the Registrable Notes
or Exchanges Notes;

     (c) in the case of a Shelf Registration, furnish to each Holder of
Registrable Notes, to counsel for the Initial Purchaser, to counsel for
the Holders and to each Underwriter of an Underwritten Offering of
Registrable Notes, if any, without charge, as many copies of each
Prospectus, including each preliminary Prospectus, and any amendment or
supplement thereto and such other documents as such Holder or Underwriter
may reasonably request, in order to facilitate the public sale or other
disposition of the Registrable Notes; and the Company consents to the use
of such Prospectus and any amendment or supplement thereto in accordance
with applicable law by each of the selling Holders of Registrable Notes
and any such Underwriters in connection with the offering and sale of the
Registrable Notes covered by and in the manner described in such
Prospectus or any amendment or supplement thereto in accordance with
applicable law;

     (d) use its commercially reasonable efforts to register or qualify
the Registrable Notes under all applicable state securities or “blue sky”
laws of such jurisdictions as any Holder of Registrable Notes covered by
a Registration Statement shall reasonably request in writing by the time
the applicable Registration Statement is declared effective by the SEC,
to cooperate with such Holders in connection with any filings required to
be made with the NASD and do any and all other acts and things which may
be reasonably necessary or advisable to enable such Holder to consummate
the disposition in each such jurisdiction of such Registrable Notes owned
by such Holder; provided, however, that the Company shall not be required
to (i) qualify as a foreign corporation or as a broker or dealer in
securities in any jurisdiction where it would not otherwise be required
to qualify but for this Section 3(d), (ii) file any general consent to
service of process or (iii) subject itself to taxation in any such
jurisdiction that it is already not so subject;
 
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     (e) in the case of a Shelf Registration, notify each Holder of
Registrable Notes, counsel for the Holders and counsel for the Initial
Purchaser promptly and, if requested by any such Holder or counsel,
confirm such advice in writing (i) when such Registration Statement has
become effective and when any post-effective amendment thereto has been
filed and becomes effective, (ii) of any request by the SEC or any state
securities authority for amendments and supplements to such Registration
Statement and Prospectus or for additional information after such
Registration Statement has become effective, (iii) of the issuance by the
SEC or any state securities authority of any stop order suspending the
effectiveness of such Registration Statement or the initiation of any
proceedings for that purpose, (iv) if, between the effective date of such
Registration Statement and the closing of any sale of Registrable Notes
covered thereby, the representations and warranties of the Company
contained in any underwriting agreement, securities sales agreement or
other similar agreement, if any, relating to the offering cease to be
true and correct in any material respect or if the Company receives any
notification with respect to the suspension of the qualification of the
Registrable Notes for sale in any jurisdiction or the initiation of any
proceeding for such purpose, (v) of the happening of any event during the
period a Shelf Registration Statement is effective such that such
Registration Statement or the related Prospectus contains an untrue
statement of a material fact or omits to state a material fact required
to be stated therein or necessary to make statements therein not
misleading and (vi) of any determination by the Company that a
post-effective amendment to such Registration Statement would be
appropriate;

     (f) make every reasonable effort to obtain the withdrawal of any
order suspending the effectiveness of a Registration Statement at the
earliest possible moment and provide immediate notice to each Holder of
the withdrawal of any such order;

     (g) in the case of a Shelf Registration, furnish to each Holder of
Registrable Notes, without charge, at least one conformed copy of each
Registration Statement and any post-effective amendment thereto (without
documents incorporated therein by reference or exhibits thereto, unless
requested);

     (h) in the case of a Shelf Registration, cooperate with the selling
Holders of Registrable Notes to facilitate the timely preparation and
delivery of certificates representing Registrable Notes to be sold and
not bearing any restrictive legends and enable such Registrable Notes to
be in such denominations (consistent with the provisions of the
Indenture) and registered in such names as the selling Holders may
reasonably request at least one business day prior to the closing of any
sale of Registrable Notes;

     (i) in the case of a Shelf Registration, upon the occurrence of any
event contemplated by Section 3(e)(v) or (vi) hereof, use its
commercially reasonable efforts to prepare and file with the SEC a
supplement or post-effective amendment to a Registration

 
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Statement or the related Prospectus or any document
incorporated therein by reference or file any other required document so
that, as thereafter delivered to the purchasers of the Registrable Notes,
such Prospectus will not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made,
not misleading. The Company agrees to notify the Holders to suspend use
of the Prospectus as promptly as practicable after the occurrence of such
an event, and the Holders hereby agree to suspend use of the Prospectus
upon receipt of such notice until the Company has amended or supplemented
the Prospectus to correct such misstatement or omission;

     (j) a reasonable time prior to the filing of any Registration
Statement, any Prospectus, any amendment to a Registration Statement or
amendment or supplement to a Prospectus or any document which is to be
incorporated by reference into a Registration Statement or a Prospectus
after initial filing of a Registration Statement, provide copies of such
document to the Initial Purchaser and its counsel, upon request, (and, in
the case of a Shelf Registration Statement, the Holders and their
counsel) and make such of the representatives of the Company as shall be
reasonably requested by the Initial Purchaser or its counsel (and, in the
case of a Shelf Registration Statement, the Holders or their counsel)
available for discussion of such document, and shall not at any time file
or make any amendment to the Registration Statement, any Prospectus or
any amendment of or supplement to a Registration Statement or a
Prospectus or any document which is to be incorporated by reference into
a Registration Statement or a Prospectus, of which the Initial Purchaser
and its counsel (and, in the case of a Shelf Registration Statement, the
Holders and their counsel) shall not have previously been advised and
furnished a copy or to which the Initial Purchaser or its counsel (and,
in the case of a Shelf Registration Statement, the Holders or their
counsel) shall reasonably object;

     (k) cause the Indenture to be qualified under the Trust Indenture
Act of 1939, as amended (the “TIA”), in connection with the registration
of the Exchange Notes or Registrable Notes, as the case may be, cooperate
with the Trustee and the Holders to effect such changes to the Indenture
as may be required for the Indenture to be so qualified in accordance
with the terms of the TIA and execute, and use its commercially
reasonable efforts to cause the Trustee to execute, all documents as may
be required to effect such changes and all other forms and documents
required to be filed with the SEC to enable the Indenture to be so
qualified in a timely manner;

     (l) in the case of a Shelf Registration, make available for
inspection by a representative of the Holders of the Registrable Notes,
any Underwriter participating in any disposition pursuant to such Shelf
Registration Statement, and attorneys and accountants designated by the
Holders, at reasonable times and in a reasonable manner,

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all financial and other records, pertinent documents and properties
of the Company, and cause the respective officers, directors and
employees of the Company to supply all information reasonably requested
by any such representative, Underwriter, attorney or accountant in
connection with a Shelf Registration Statement;

     (m) in the case of a Shelf Registration, use its commercially
reasonable efforts to cause all Registrable Notes to be listed on any
securities exchange or any automated system on which similar securities
issued by FelCor or the Operating Partnership are then listed if
requested by the Majority Holders, to the extent such Registrable Notes
satisfy applicable listing requirements;

     (n) use its commercially reasonable efforts to cause the Exchange
Notes or Registrable Notes, as the case may be, to be rated by two
nationally recognized statistical rating organizations (as such term is
defined in Rule 436(g)(2) under the 1933 Act);

     (o) if reasonably requested by any Holder of Registrable Notes
covered by a Registration Statement in order to accurately reflect
information regarding such Holder or such Holder’s plan of distribution
as required by such Registration Statement, (i) promptly incorporate in a
Prospectus supplement or post-effective amendment such required
information with respect to such Holder as such Holder reasonably
requests to be included therein and (ii) make all required filings of
such Prospectus supplement or such post-effective amendment as soon as
the Company has received notification of the matters to be incorporated
in such filing; and

     (p) in the case of a Shelf Registration, use its commercially
reasonable efforts to enter into such customary agreements and take all
such other actions in connection therewith (including those requested by
the Holders of a majority of the Registrable Notes being sold) in order
to expedite or facilitate the disposition of such Registrable Notes
including, but not limited to, an Underwritten Offering and in such
connection, (i) to the extent possible, make such representations and
warranties to the Holders and any Underwriters of such Registrable Notes
with respect to the business of the Company and its subsidiaries, the
Registration Statement, Prospectus and documents incorporated by
reference or deemed incorporated by reference, if any, in each case, in
form, substance and scope as are customarily made by issuers to
underwriters in Underwritten Offerings (but in no event more onerous to
the Company than those contained in the Purchase Agreement), and confirm
the same if and when requested, (ii) obtain opinions of counsel to the
Company (which counsel and opinions, in form, scope and substance, shall
be reasonably satisfactory to the Holders and such Underwriters and their
respective counsel) addressed to each selling Holder and Underwriter of
Registrable Notes covering the matters customarily covered in opinions
requested in Underwritten Offerings (but in no event more onerous to the
Company

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than those opinions required in the Purchase Agreement), (iii)
obtain “cold comfort” letters from the independent certified public
accountants of FelCor and the Operating Partnership (and, if necessary,
any other certified public accountant of any subsidiary of the Company,
or of any business acquired by the Company for which financial statements
and financial data are or are required to be included in the Registration
Statement) addressed to each selling Holder and Underwriter of
Registrable Notes, such letters to be in customary form and covering
matters of the type customarily covered in “cold comfort” letters in
connection with Underwritten Offerings, and (iv) deliver such documents
and certificates as may be reasonably requested by the Holders of a
majority in principal amount of the Registrable Notes being sold or the
Underwriters, and which are customarily delivered in Underwritten
Offerings, to evidence the continued validity of the representations and
warranties of the Company made pursuant to clause (i) above and to
evidence compliance with any customary conditions contained in an
underwriting agreement.

          In the case of a Shelf Registration Statement, the Company may require
each Holder of Registrable Notes to furnish to the Company such information
regarding such Holder and the proposed distribution by such Holder of such
Registrable Notes as the Company may from time to time reasonably request in
writing.

          In the case of a Shelf Registration Statement, each Holder agrees that,
upon receipt of any notice from the Company of the happening of any event of
the kind described in Section 3(e)(v) or (vi) hereof, such Holder will
forthwith discontinue disposition of Registrable Notes pursuant to a
Registration Statement until such Holder’s receipt of the copies of the
supplemented or amended Prospectus contemplated by Section 3(i) hereof, and, if
so directed by the Company, such Holder will deliver to the Company (at its
expense) all copies in its possession, other than permanent file copies then in
such Holder’s possession, of the Prospectus covering such Registrable Notes
current at the time of receipt of such notice. The Company may suspend the
availability of any Shelf Registration Statement for not more than two times
during any 365 day period and any such suspensions may not exceed 30 days for
each suspension. If the Company shall give any such notice to suspend the
disposition of Registrable Notes pursuant to a Registration Statement, the
Company shall extend the period during which the Registration Statement shall
be maintained effective pursuant to this Agreement by the number of days during
the period from and including the date of the giving of such notice to and
including the date when the Company shall have made available to the Holders
copies of the supplemented or amended Prospectus necessary to resume such
dispositions.

          The Holders of Registrable Notes covered by a Shelf Registration Statement
who desire to do so may sell such Registrable Notes in an Underwritten
Offering; provided that the Company shall be required to use its commercially
reasonable efforts to make an Underwritten Offering only upon the request of
Holders of at least 25% of the Registrable Notes outstanding at the time such
request is delivered to the Company. In the case of any Under-

-12-

 

written Offering, the Company shall (x) provide written notice to the
Holders of all Registrable Notes of such Underwritten Offering at least 30 days
prior to the filing of a prospectus for such Underwritten Offering, (y) specify
a date, which shall be no earlier than 10 days following the date of such
notice, by which each such Holder must inform the Company of its intent to
participate in such Underwritten Offering and (z) include reasonable procedures
that are customary to underwritten offerings of the type contemplated herein
that such Holder must follow in order to participate in such Underwritten
Offering. In any such Underwritten Offering, the investment banker or
investment bankers and manager or managers (the “Underwriters”) that will
administer the offering will be selected by the Majority Holders of the
Registrable Notes included in such offering and shall be approved by the
Company, which approval shall not be unreasonably withheld.

          4. Participation of Broker-Dealers In Exchange Offer. (a) The Staff of
the SEC has taken the position that any broker-dealer that receives Exchange
Notes for its own account in the Exchange Offer in exchange for Notes that were
acquired by such broker-dealer as a result of market-making or other trading
activities (a “Participating Broker-Dealer”), may be deemed to be an
“underwriter” within the meaning of the 1933 Act and must deliver a prospectus
meeting the requirements of the 1933 Act in connection with any resale of such
Exchanges Notes.

          The Company understands that it is the Staff’s position that if the
Prospectus contained in the Exchange Offer Registration Statement includes a
plan of distribution containing a statement to the above effect and the means
by which Participating Broker-Dealers may resell the Exchange Notes, without
naming the Participating Broker-Dealers or specifying the amount of Exchange
Notes owned by them, such Prospectus may be delivered by Participating
Broker-Dealers to satisfy their prospectus delivery obligation under the 1933
Act in connection with resales of Exchange Notes for their own accounts, so
long as the Prospectus otherwise meets the requirements of the 1933 Act.

          (b) In light of the above, notwithstanding the other provisions of this
Agreement, the Company agrees that the provisions of this Agreement as they
relate to a Shelf Registration shall also apply to an Exchange Offer
Registration to the extent, and with such reasonable modifications thereto as
may be, reasonably requested by the Initial Purchaser or by one or more
Participating Broker-Dealers, in each case as provided in clause (ii) below, in
order to expedite or facilitate the disposition of any Exchange Notes by
Participating Broker-Dealers consistent with the positions of the Staff recited
in Section 4(a) above; provided that:

     (i) the Company shall not be required to amend or supplement the
Prospectus contained in the Exchange Offer Registration Statement, as
would otherwise be contemplated by Section 3(i), for a period exceeding
180 days after the last Exchange Date (as such period may be extended
pursuant to the penultimate paragraph of

 
-13-

 

Section 3 of this Agreement) and Participating Broker-Dealers shall
not be authorized by the Company to deliver and shall not deliver such
Prospectus after such period in connection with the resales contemplated
by this Section 4; and

     (ii) the application of the Shelf Registration procedures set forth
in Section 3 of this Agreement to an Exchange Offer Registration, to the
extent not required by the positions of the Staff of the SEC or the 1933
Act and the rules and regulations thereunder, will be in conformity with
the reasonable request to the Company by the Initial Purchaser or with
the reasonable request in writing to the Company by one or more
broker-dealers who certify to the Initial Purchaser and the Company in
writing that they anticipate that they will be Participating
Broker-Dealers; and provided further that, in connection with such
application of the Shelf Registration procedures set forth in Section 3
to an Exchange Offer Registration, the Company shall be obligated (x) to
deal only with one entity representing the Participating Broker-Dealers,
which shall be Deutsche Bank Securities Inc. unless it elects not to act
as such representative, (y) to pay the fees and expenses of only one
counsel representing the Participating Broker-Dealers, which shall be
counsel to the Initial Purchaser unless such counsel elects not to so act
and (z) to cause to be delivered only one, if any, “cold comfort” letter
with respect to the Prospectus in the form existing on the last Exchange
Date and with respect to each subsequent amendment or supplement, if any,
effected during the period specified in clause (i) above.

          (c) The Initial Purchaser shall have no liability to the Company or any
Holder with respect to any request that it may make pursuant to Section 4(b)
above.

          5. Indemnification and Contribution. (a) The Company agrees to indemnify
and hold harmless the Initial Purchaser, each Holder and each person, if any,
who controls the Initial Purchaser or any Holder within the meaning of either
Section 15 of the 1933 Act or Section 20 of the 1934 Act, or is under common
control with, or is controlled by, the Initial Purchaser or any Holder, from
and against all losses, claims, damages and liabilities (including, without
limitation, any legal or other expenses reasonably incurred by the Initial
Purchaser, any Holder or any such controlling or affiliated person in
connection with defending or investigating any such action or claim) caused by
any untrue statement or alleged untrue statement of a material fact contained
in any Registration Statement (or any amendment thereto) pursuant to which
Exchange Notes or Registrable Notes were registered under the 1933 Act,
including all documents incorporated therein by reference, or caused by any
omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading, or
caused by any untrue statement or alleged untrue statement of a material fact
contained in any Prospectus (as amended or supplemented if the Company shall
have furnished any amendments or supplements thereto), or caused by any
omission or alleged omission to state therein a material fact necessary to make
the statements therein in the light of the circumstances under which they were
made not mis-

-14-

 

leading, except insofar as such
losses, claims, damages or liabilities are caused by any such untrue statement
or omission or alleged untrue statement or omission based upon information
relating to the Initial Purchaser or any Holder furnished to the Company in
writing by the Initial Purchaser or such Holder expressly for use therein. In
connection with any Underwritten Offering permitted by Section 3, the Company
will also indemnify the Underwriters, if any, their officers and directors and
each Person who controls such Persons (within the meaning of the Securities Act
and the Exchange Act) to the same extent as provided above with respect to the
indemnification of the Holders, if requested in connection with any
Registration Statement.

     (b) Each Holder agrees, severally and not jointly, to indemnify and hold
harmless the Company, the Initial Purchaser and the other selling Holders, and
each of their respective directors, officers who sign the Registration
Statement and each person, if any, who controls the Company, the Initial
Purchaser and any other selling Holder within the meaning of either Section 15
of the 1933 Act or Section 20 of the 1934 Act to the same extent as the
foregoing indemnity from the Company to the Initial Purchaser and the Holders,
but only with reference to information relating to such Holder furnished to the
Company in writing by such Holder expressly for use in any Registration
Statement (or any amendment thereto) or any Prospectus (or any amendment or
supplement thereto).

     (c) In case any proceeding (including any governmental investigation)
shall be instituted involving any person in respect of which indemnity may be
sought pursuant to either paragraph (a) or paragraph (b) above, such person
(the “indemnified party”) shall promptly notify the person against whom such
indemnity may be sought (the “indemnifying party”) in writing and the
indemnifying party, upon request of the indemnified party, shall retain counsel
reasonably satisfactory to the indemnified party to represent the indemnified
party and any others the indemnifying party may designate in such proceeding
and shall pay the reasonable fees and disbursements of such counsel related to
such proceeding. In any such proceeding, any indemnified party shall have the
right to retain its own counsel, but the fees and expenses of such counsel
shall be at the expense of such indemnified party unless (i) the indemnifying
party and the indemnified party shall have mutually agreed to the retention of
such counsel, (ii) the named parties to any such proceeding (including any
impleaded parties) include both the indemnifying party and the indemnified
party and representation of both parties by the same counsel would be
inappropriate due to actual or potential differing
interests between them or (iii) the indemnifying party does not, within a
reasonable period of time after request of such indemnified party, retain
counsel to represent such indemnified party. It is understood that the
indemnifying party shall not, in connection with any proceeding or related
proceedings in the same jurisdiction, be liable for (A) the reasonable fees and
expenses of more than one separate firm (in addition to any local counsel) for
the Initial Purchaser and all persons, if any, who control the Initial
Purchaser within the meaning of either Section 15 of the 1933 Act or Section 20
of the 1934 Act, (B) the reasonable fees and expenses of more than one separate
firm (in addition to any local counsel) for the Company, its

- 15 -

 

directors and
officers who sign the Registration Statement and each person, if any, who
controls the Company within the meaning of either such Section and (C) the fees
and expenses of more than one separate firm (in addition to any local counsel)
for all Holders and all persons, if any, who control any Holders within the
meaning of either such Section, and that all such fees and expenses shall be
reimbursed as they are incurred. In such case involving the Initial Purchaser
and persons who control the Initial Purchaser, such firm shall be designated in
writing by Deutsche Bank Securities Inc. In such case involving the Holders
and such persons who control Holders, such firm shall be designated in writing
by the Majority Holders. In all other cases, such firm shall be designated by
the Company. The indemnifying party shall not be liable for any settlement of
any proceeding effected without its written consent but, if settled with such
consent or if there be a final judgment for the plaintiff, the indemnifying
party agrees to indemnify the indemnified party from and against any loss or
liability by reason of such settlement or judgment. Notwithstanding the
foregoing sentence, if at any time an indemnified party shall have requested an
indemnifying party to reimburse the indemnified party for reasonable fees and
expenses of counsel as contemplated by the second and third sentences of this
paragraph, the indemnifying party agrees that it shall be liable for any
settlement of any proceeding effected without its written consent if (i) such
settlement is entered into more than 45 days after receipt by such indemnifying
party of the aforesaid request and (ii) such indemnifying party shall not have
reimbursed the indemnified party for such fees and expenses of counsel in
accordance with such request prior to the date of such settlement. No
indemnifying party shall, without the prior written consent of the indemnified
party, effect any settlement of any pending or threatened proceeding in respect
of which such indemnified party is or could have been a party and indemnity
could have been sought hereunder by such indemnified party, unless such
settlement includes an unconditional release of such indemnified party from all
liability on claims that are the subject matter of such proceeding.

     (d) If the indemnification provided for in paragraph (a) or paragraph (b)
of this Section 5 is unavailable to an indemnified party or insufficient in
respect of any losses, claims, damages or liabilities, then each indemnifying
party under such paragraph, in lieu of indemnifying such indemnified party
thereunder, shall contribute to the amount paid or payable by such indemnified
party as a result of such losses, claims, damages or liabilities in such
proportion as is appropriate to reflect the relative fault of the indemnifying
party or parties on the one hand and of the indemnified party or parties on the
other hand in connection
with the statements or omissions that resulted in such losses, claims,
damages or liabilities, as well as any other relevant equitable considerations.
The relative fault of the Company and the Holders shall be determined by
reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the Company or by the Holders
and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The Holders’
respective obligations to contribute pursuant to this Section 5(d) are several
in proportion to the respective number of Registrable Notes of such Holder that
were registered pursuant to a Registration Statement.

- 16 -

 

     (e) The Company and each Holder agree that it would not be just or
equitable if contribution pursuant to this Section 5 were determined by pro
rata allocation or by any other method of allocation that does not take account
of the equitable considerations referred to in paragraph (d) above. The amount
paid or payable by an indemnified party as a result of the losses, claims,
damages and liabilities referred to in paragraph (d) above shall be deemed to
include, subject to the limitations set forth above, any legal or other
expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action or claim. Notwithstanding the
provisions of this Section 5, no Holder shall be required to indemnify or
contribute any amount in excess of the amount by which the total price at which
Registrable Notes were sold by such Holder exceeds the amount of any damages
that such Holder has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933
Act) shall be entitled to contribution from any person who was not guilty of
such fraudulent misrepresentation. The remedies provided for in this Section 5
are not exclusive and shall not limit any rights or remedies which may
otherwise be available to any indemnified party at law or in equity.

     The indemnity and contribution provisions contained in this Section 5
shall remain operative and in full force and effect regardless of (i) any
termination of this Agreement, (ii) any investigation made by or on behalf of
the Initial Purchaser, any Holder or any person controlling the Initial
Purchaser or any Holder, or by or on behalf of the Company, its officers or
directors or any person controlling the Company, (iii) acceptance of any of the
Exchange Notes and (iv) any sale of Registrable Notes pursuant to a Shelf
Registration Statement.

     6. Miscellaneous.

     (a) No Inconsistent Agreements. The Company has not entered into, and on
or after the date of this Agreement will not enter into, any agreement which is
inconsistent with the rights granted to the Holders of Registrable Notes in
this Agreement or otherwise conflicts with the provisions hereof. The rights
granted to the Holders hereunder do not in any
way conflict with and are not inconsistent with the rights granted to the
holders of the Company’s other issued and outstanding securities under any such
agreements.

     (b) Amendments and Waivers. The provisions of this Agreement, including
the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be
given unless the Company has obtained the written consent of Holders of at
least a majority in aggregate principal amount of the outstanding Registrable
Notes affected by such amendment, modification, supplement, waiver or consent;
provided, however, that no amendment, modification, supplement, waiver or
consents to any departure from the provisions of Section 5 hereof shall be

- 17 -

 

effective as against any Holder of Registrable Notes unless consented to in
writing by such Holder.

     (c) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, registered
first-class mail, facsimile or any courier guaranteeing overnight delivery (i)
if to a Holder, at the most current address given by such Holder to the Company
by means of a notice given in accordance with the provisions of this Section
6(c), which address initially is, with respect to the Initial Purchaser, the
address set forth in the Purchase Agreement; and (ii) if to the Company,
initially at the Company’s address set forth in the Purchase Agreement and
thereafter at such other address, notice of which is given in accordance with
the provisions of this Section 6(c).

     All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; five business
days after being deposited in the mail, postage prepaid, if mailed; when
receipt is confirmed, if faxed; and on the next business day if timely
delivered to an air courier guaranteeing overnight delivery.

     Copies of all such notices, demands, or other communications shall be
concurrently delivered by the person giving the same to the Trustee, at the
address specified in the Indenture.

     (d) Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the successors, assigns and transferees of each of the
parties, including, without limitation and without the need for an express
assignment, subsequent Holders; provided that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Registrable Notes in
violation of the terms of the Purchase Agreement. If any transferee of any
Holder shall acquire Registrable Notes, in any manner, whether by operation of
law or otherwise, such Registrable Notes shall be held subject to all of the
terms of this Agreement, and by taking and holding such Registrable Notes such
person shall be conclusively deemed to have agreed to be bound by and to
perform all of the terms and provisions of this Agreement and such person shall
be entitled to receive the benefits hereof. The Initial Purchaser (in its
capacity as Initial Purchaser) shall have no liability or obligation
to the Company with respect to any failure by a Holder to comply with, or
any breach by any Holder of, any of the obligations of such Holder under this
Agreement.

     (e) Purchases and Sales of Notes. The Company shall not, and shall use its
commercially reasonable efforts to cause its affiliates (as defined in Rule 405
under the 1933 Act) not to, purchase and then resell or otherwise transfer any
Notes other than Notes acquired and cancelled.

     (f) Third Party Beneficiary. The Holders shall be third party
beneficiaries to the agreements made hereunder between the Company, on the one
hand, and the Initial Purchaser, on the other hand, and shall have the right to
enforce such agreements directly to

- 18 -

 

the extent it deems such enforcement
necessary or advisable to protect its rights or the rights of Holders
hereunder.

     (g) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

     (h) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

     (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK.

     (j) Severability. In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable, the validity, legality and enforceability of
any such provision in every other respect and of the remaining provisions
contained herein shall not be affected or impaired thereby.

- 19 -

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

	 	 	 	 	 	 	 	 	 
	 	 	FELCOR LODGING TRUST INCORPORATED
	 
	 	 	 	 	 	 	 	 
	

	 	By:
	 	 	 	/s/ LAWRENCE D. ROBINSON	 	 
	 	 	 	 	
	 	 
	

	 	 	 	Name:
	 	Lawrence D. Robinson	 	 
	

	 	 	 	Title:
	 	Executive Vice President & General
Counsel	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	FELCOR LODGING LIMITED PARTNERSHIP
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	FelCor Lodging Trust Incorporated, 
General Partner	 	 
	 
	 	 	 	 	 	 	 	 
	

	 	By:
	 	 	 	/s/ LAWRENCE D. ROBINSON	 	 
	 	 	 	 	
	 	 
	

	 	 	 	Name:
	 	Lawrence D. Robinson	 	 
	

	 	 	 	Title:
	 	Executive Vice President & General
Counsel	 	 

S-1

 

The foregoing Registration Rights Agreement

is hereby confirmed and accepted as of the

date hereof by:

DEUTSCHE BANK SECURITIES INC.

	 	 	 
	By:
	 	 
	

	 	

	

	 	Name:
	

	 	Title:
	 
	 	 
	By:
	 	 
	

	 	

	

	 	Name:
	

	 	Title:

S-2<PAGE>

                                                                     EXHIBIT 4.1

                              MARKETLEAP.COM, INC.
                          2000 LONG-TERM INCENTIVE PLAN
                  (AS AMENDED AND RESTATED AS OF JULY 9, 2004)

                                   I. GENERAL

      1.    Purpose. The Marketleap.com, Inc. 2000 Long-Term Incentive Plan (the
"2000 Plan") has been established by Marketleap.com, Inc., a Delaware
corporation (the "Company") to:

            (a)   Attract and retain employees of the Company;

            (b)   Motivate participating employees, directors and key
      independent contractors by means of appropriate incentives, to achieve
      long-range goals;

            (c)   Provide incentive compensation opportunities which are
      competitive with those of other major corporations; and

            (d)   Further identify Participants' interests with those of the
      Company's other stockholders through compensation alternatives based on
      the Company's common stock;

and thereby promote the long-term financial interest of the Company and its
Subsidiaries, including the growth in value of the Company's equity and
enhancement of long-term stockholder return.

      2.    Effective Date. Subject to the approval of the holders of a majority
of the Stock of the Company, the 2000 Plan shall be effective as of January 1,
2000. The 2000 Plan shall terminate on December 31, 2009.

      3.    Definitions. The following definitions are applicable to the 2000
Plan.

      "Board" means the Board of Directors of the Company.

      "Change of Control" has the meaning ascribed to it in Paragraph I.11.

      "Code" means the Internal Revenue Code of 1986, as amended.

      "Committee" means the Compensation Committee of the Board.

      "Disabled" means the inability of a Participant, by reason of a physical
or mental impairment, to engage in any substantial gainful activity, of which
the Board shall be the sole judge.

      "Market Value" will, on the date of reference, be determined as follows:

            (a)   If the Shares are listed on any established stock exchange or
      a national market system, including without limitation the National Market
      System of the National Association

<PAGE>

      of Securities Dealers, Inc. ("NASD") Automated Quotation ("NASDAQ")
      System, the Market Value will be the closing sales price for such stock
      (or the closing bid, if no sales were reported, as quoted on such system
      or exchange for the last market trading day prior to the time of
      determination) as reported in The Wall Street Journal or such other source
      as the Company deems reliable;

            (b)   If the Shares are quoted on the NASDAQ System (but not on the
      National Market System thereof) or are regularly quoted by a recognized
      securities dealer but selling prices are not reported, the Market Value
      will be the mean between the high and low asked prices so quoted for the
      Shares; or

            (c)   If neither clause (a) nor (b) of this definition is
      applicable, the Market Value per Share will be deemed to be equal to (x)
      the exercise price most recently used by the Company in granting
      Non-Qualified Stock Options under the Plan or any subsequent grant of
      Stock Options or (y) if no such grant has then been made within the year
      preceding the date in question then 2.5 times the book value per share of
      the Company as of the prior fiscal quarter end. Market Value per Share
      determined under clause (y) will be calculated by dividing the Company's
      net worth (shareholders' equity) as of the prior fiscal quarter end by (A)
      the total number of shares of common stock outstanding as of the prior
      fiscal quarter end, plus (B) the number of common shares which would be
      outstanding if all capital stock convertible into common stock were
      converted as of such date, plus (C) the number of common shares on which
      options, whether vested or unvested, had been granted as of the prior
      fiscal quarter end, but which options had not been exercised. For purposes
      of such calculation, the Company's net worth will be deemed to take into
      account the effects of exercise of all outstanding options, whether or not
      vested.

      "1934 Act" means the Securities Exchange Act of 1934, as amended, or any
successor statute.

      "Option Date" means, with respect to any Stock Option, the date on which
the Stock Option is awarded under the 2000 Plan.

      "Participant" means any employee of the Company or any Subsidiary, any
non-employee member of the Company's Board, and any independent contractor
providing services to the Company or any Subsidiary, who is selected by the
Committee to participate in the 2000 Plan.

      "Permitted Transferees" means a member of a Participant's immediate
family, trusts for the benefit of such immediate family members, and
partnerships in which the Participant and/or such immediate family members are
the only partners, provided that no consideration is provided for the transfer.
Immediate family members shall include a Participant's spouse, descendants
(children, grandchildren and more remote descendants), and shall include
step-children and relationships arising from legal adoption.

      "Related Company" means any corporation during any period in which it is a
Subsidiary, or during any period in which it directly or indirectly owns 50% or
more of the total combined voting power of all classes of stock of the Company
that are entitled to vote.

      "Restricted Period" has the meaning ascribed to it in Part V.

<PAGE>

      "Restricted Stock" has the meaning ascribed to it in Part V.

      "Retirement" means (i) termination of employment in accordance with the
retirement procedures set by the Company from time to time; (ii) termination of
employment because a Participant becomes Disabled; or (iii) termination of
employment voluntarily with the consent of the Company (of which the Board shall
be the sole judge).

      "Stock" means Marketleap.com, Inc. Common Stock.

      "Stock Appreciation Right" means the right of a holder of a Stock Option
to receive Stock or cash as described in Part IV.

      "Stock Option" means the right of a Participant to purchase Stock pursuant
to an Incentive Stock Option or Non-Qualified Option awarded pursuant to the
provisions of the 2000 Plan.

      "Subsidiary" means any corporation during any period of which 50% or more
of the total combined voting power of all classes of stock entitled to vote is
owned, directly or indirectly, by the Company.

      "Termination Date" shall have the following meaning based on the nature of
the Participant's relationship with the Company or its Subsidiaries.

            (a)   For an employee Participant, the Termination Date is the date
      of the termination of the Participant's employment for any reason
      whatsoever, whether by death, disability, retirement, discharge or
      voluntary termination of employment. If within one month after termination
      of employment for the Company or any other Subsidiary, an employee
      Participant begins to work as a full-time employee, an independent
      contractor or a director for the Company or any other Subsidiary or is
      reinstated as an employee at a level commensurate with the level of
      employment at which the Participant worked upon Participant's termination,
      then the termination of the Participant's employment shall not be
      considered a termination of employment for the purposes of this Agreement.

            (b)   For a director Participant, the Termination Date is the date
      of the termination, resignation or removal of the Participant from
      Directorship,

            (c)   For an independent contractor Participant, the Termination
      Date shall be the last day of any three month period in which the
      Participant is not engaged by the Company or Subsidiaries to perform any
      services for the Company or a Subsidiary.

      "Termination For Cause" or "Terminated for Cause" shall mean a termination
of a Participant's relationship with the Company or a Subsidiary (whether the
relationship involves employment, service as a director or service as an
independent contractor) that the Company states in its sole discretion was
because of one or more of the following reasons:

            (a)   the Participant's conviction of a crime constituting a felony
      under state or federal law, or a crime involving moral turpitude, whether
      or not the crime or the conviction occurs during the period of
      Participant's employment or service as a director or independent
      contractor;

<PAGE>

            (b)   a determination by the Company or Subsidiary that the
      Participant has committed any material act of dishonesty against or
      affecting the Company, any of its Subsidiaries, any of its affiliates, or
      its successors or assigns; or

            (c)   a determination by the Company or Subsidiary that the
      Participant has committed any material act of gross misconduct, such as:

                  (i)   for an employee of the Company or Subsidiary,
            intoxication on the job, insubordination or other misconduct which
            has a substantial adverse effect on the business of the Company or a
            Subsidiary,

                  (ii)  for a director of the Company or a Subsidiary, a
            director through action or inaction causes a knowing, material
            breach of the director's fiduciary duty to the Company or its
            Subsidiary, and

                  (iii) for an independent contractor of the Company or a
            Subsidiary, a material breach of any agreement with the Company or
            its Subsidiaries.

      Termination for Cause shall also include without limitation a voluntary
resignation by Participant upon or within thirty (30) days after being
confronted by an officer of the Company stating that such officer believes that
an event has occurred that would be a reason for "Termination For Cause."

      4.    Administration. The authority to manage and control the operation
and administration of the 2000 Plan shall be vested in the Board. Subject to the
provisions of the 2000 Plan, the Board will have authority to select
Participants to receive awards of Stock Options, with or without tandem Stock
Appreciation Rights, Restricted Stock and/or Stock Units and Performance Share
Awards, to determine the time or times of receipt, to determine the types of
awards and the number of shares covered by the awards, to establish the terms,
conditions, performance criteria, restrictions, and other provisions of such
awards, to determine the number and value of Stock Units and Performance Share
Awards awarded and earned, and to amend, modify or suspend awards. In making
such award determinations, the Board may take into account the nature of
services rendered by the Participant, his or her present and potential
contribution to the Company's success and such other factors as the Board deems
relevant. The Board is authorized to interpret the 2000 Plan, to establish,
amend, and rescind any rules and regulations relating to the 2000 Plan, to
determine the terms and provisions of any agreements made pursuant to the 2000
Plan, to modify such agreements, and to make all other determinations that may
be necessary or advisable for the administration of the 2000 Plan. With respect
to persons subject to Section 16 of the 1934 Act, transactions under the 2000
Plan are intended to comply with all applicable conditions of Rule 16b-3 or its
successor rule or statute under the 1934 Act. To the extent any provision of the
2000 Plan or action by the Board of Directors or the Committee fails to so
comply, it shall be deemed null and void, to the extent permitted by law.

      The Board may delegate any or all of its authority, powers and discretion
under this 2000 Plan to the Committee, and the Board may revest any or all such
authority, powers and discretion in itself at any time. If appointed, the
Committee shall function as follows: A majority of the Committee shall
constitute a quorum, and the acts of a majority of the members present at any
meeting at which a quorum is present, or acts approved in writing by all members
of the Committee, shall be the acts of the

<PAGE>

Committee, unless provisions to the contrary are embodied in the Company's
Bylaws or resolutions duly adopted by the Board. All actions taken and decisions
and determinations made by the Board or the Committee pursuant to the Plan shall
be binding and conclusive on all persons interested in the Plan. No member of
the Board or the Committee shall be liable for any action or determination taken
or made in good faith with respect to the Plan.

      5.    Participation. Subject to the terms and conditions of the 2000 Plan,
the Board shall determine and designate, from time to time, the employees and
directors of the Company and/or its Subsidiaries and independent contractors of
the Company and/or its Subsidiaries who will participate in the 2000 Plan. In
the discretion of the Board, a Participant may be awarded Stock Options with or
without tandem Stock Appreciation Rights, Restricted Stock or Stock Units and
Performance Share Awards or any combination thereof, and more than one award may
be granted to a Participant. Except as otherwise agreed to by the Company and
the Participant, any award under the 2000 Plan shall not affect any previous
award to the Participant under the 2000 Plan or any other plan maintained by the
Company or its Subsidiaries.

      6.    Shares Subject to the 2000 Plan. The shares of Stock with respect to
which awards may be made under the 2000 Plan shall be either authorized and
unissued shares or issued and outstanding shares (including, in the discretion
of the Board, shares purchased in the market). Subject to the provisions of
Paragraph I.10, the number of shares of Stock available under the 2000 Plan for
the grant of Stock Options with or without tandem Stock Appreciation Rights,
Stock Units and Performance Share Awards and Restricted Stock shall not exceed
3,000,000 shares in the aggregate. If, for any reason, any award under the 2000
Plan or any portion of the award, shall expire, terminate or be forfeited or
cancelled, or be settled in cash pursuant to the terms of the 2000 Plan and,
therefore, any such shares are no longer distributable under the award, such
shares of Stock shall again be available for award under the 2000 Plan.

      7.    Compliance With Applicable Laws and Withholding of Taxes.
Notwithstanding any other provision of the 2000 Plan, the Company shall have no
liability to issue any shares of Stock under the 2000 Plan unless such issuance
would comply with all applicable laws and the applicable requirements of any
securities exchange or similar entity. Prior to the issuance of any shares of
Stock under the 2000 Plan, the Company may require a written statement that the
recipient is acquiring the shares for investment and not for the purpose or with
the intention of distributing the shares. The Committee, in its discretion, may
impose such conditions, restrictions and contingencies with respect to shares of
Stock acquired pursuant to the exercise of a Stock Option or Stock Appreciation
Right as the Committee determines to be desirable. All awards and payments under
the 2000 Plan are subject to withholding of all applicable taxes, which
withholding obligations may be satisfied, with the consent of the Board, through
the surrender of shares of Stock which the Participant already owns, or to which
a Participant is otherwise entitled under the 2000 Plan. The Company shall have
the right to deduct from all amounts paid in cash in consequence of the exercise
of a Stock Option or Stock Appreciation Right or in connection with an award of
Restricted Stock or Stock Units and Performance Share Awards under the 2000 Plan
any taxes required by law to be withheld with respect to such cash payments.
Where an employee or other person is entitled to receive shares of Stock
pursuant to the exercise of a Stock Option or a Stock Appreciation Right or with
respect to an award of Stock Units and Performance Share Awards pursuant to the
2000 Plan, the Company shall have the right to require the employee or such
other person to pay to the Company the amount of any taxes that the Company is
required to withhold with respect to such shares, or, in lieu thereof, to
retain, or sell without notice, a sufficient number of such shares to cover the
amount required to be withheld. Upon

<PAGE>

the disposition (within the meaning of Code Section 424(c)) of shares of Stock
acquired pursuant to the exercise of an Incentive Stock Option prior to the
expiration of the holding period requirements of Code Section 422(a)(1), the
employee shall be required to give notice to the Company of such disposition and
the Company shall have the right to require the employee to pay to the Company
the amount of any taxes that are required by law to be withheld with respect to
such disposition. Upon termination of the Restricted Period with respect to an
award of Restricted Stock (or such earlier time, if any, as an election is made
by the employee under Code Section 83(b), or any successor provisions thereto,
to include the value of such shares in taxable income), the Company shall have
the right to require the employee or other person receiving shares of Stock in
respect of such Restricted Stock award to pay to the Company the amount of taxes
that the Company is required to withhold with respect to such shares of Stock
or, in lieu thereof, to retain or sell without notice a sufficient number of
shares of Stock held by it to cover the amount required to be withheld. The
Company shall have the right to deduct from all dividends paid with respect to
Restricted Stock the amount of taxes that the Company is required to withhold
with respect to such dividend payments.

      8.    Transferability. Incentive Stock Options with or without tandem
Stock Appreciation Rights, Stock Units and Performance Share Awards, and, during
the period of restriction, Restricted Stock awarded under the 2000 Plan are not
transferable except as designated by the Participant by will or by the laws of
descent and distribution. Incentive Stock Options may be exercised during the
lifetime of the Participant only by the Participant or his guardian or legal
representative. If provided in the option agreement, Non-Qualified Stock Options
with or without tandem Stock Appreciation Rights may be transferred by a
Participant to Permitted Transferees, and may be exercised either by the
Participant, his guardian or legal representative and as otherwise permitted
under the laws of descent and distribution, or by a Permitted Transferee.

      9.    Employee and Stockholder Status. The 2000 Plan does not constitute a
contract of employment or for services, and selection as a Participant will not
give any employee, director or independent contractor the right to be retained
in the employ of the Company or any Subsidiary nor to continue to provide
services as a director or consultant. No award under the 2000 Plan shall confer
upon the holder thereof any right as a stockholder of the Company prior to the
date on which he fulfills all service requirements and other conditions for
receipt of shares of Stock. If the redistribution of shares is restricted
pursuant to Paragraph I.7, certificates representing such shares may bear a
legend referring to such restrictions.

      10.   Adjustments to Number of Shares Subject to the 2000 Plan. In the
event of any change in the outstanding shares of Stock of the Company by reason
of any stock dividend, split, spinoff, recapitalization, merger, consolidation,
combination, extraordinary dividend, exchange of shares or other similar change,
the aggregate number of shares of Stock with respect to which awards may be made
under the 2000 Plan, the terms and the number of shares of any outstanding Stock
Options, Stock Appreciation Rights, Restricted Stock and Stock Units and
Performance Share Awards, and the purchase price of a share of Stock under Stock
Options, may be equitably adjusted by the Board in its sole discretion.

      11.   Business Combinations. In addition to the rights and obligations of
the Committee to modify, adjust or accelerate exercisability of outstanding
options, in the event that, while any options, Stock Appreciation Rights,
Restricted Stock or Stock Units and Performance Share Awards are outstanding
under the 2000 Plan, there shall occur (a) a merger or consolidation of the
Company with or into another corporation in which the Company shall not be the
surviving corporation (for purposes

<PAGE>

of this Paragraph I.11, the Company shall not be deemed the surviving
corporation in any such transaction if, as the result thereof, it becomes a
wholly-owned subsidiary of another corporation), (b) a dissolution of the
Company, or (c) a transfer of all or substantially all of the assets or shares
of stock of the Company in one transaction or a series of related transactions
to one or more other persons or entities (any of the foregoing events as
described in (a)-(c) above, a "Change of Control") then, with respect to each
option, Stock Appreciation Right and share of Restricted Stock outstanding
immediately prior to the consummation of such transaction and without the
necessity of any action by the Committee:

                  (i)   If provision is made in writing in connection with such
            transaction for the continuance and/or assumption of some or all of
            the options, rights, Restricted Stock and Stock Units and
            Performance Share Awards granted under the 2000 Plan, or the
            substitution for such options, rights, Restricted Stock and Stock
            Units and Performance Share Awards of new options, rights,
            Restricted Stock and Stock Units and Performance Share Awards, with
            appropriate adjustment as to the number and kind of shares or other
            securities deliverable with respect thereto, the options, rights,
            Restricted Stock and Stock Units and Performance Share Awards
            granted under the 2000 Plan, or the new options, rights, Restricted
            Stock and Stock Units and Performance Share Awards substituted
            therefor, shall continue subject to such adjustment, in the manner
            and under the terms provided in the respective agreements.

                  (ii)  If provision is made in writing in connection with such
            transaction, all or a portion of the options, rights, Restricted
            Stock and Stock Units and Performance Share Awards granted under the
            2000 Plan (each, an "Award") may be terminated in exchange for the
            right to receive, for each share of Company common stock subject to
            the Award that is to be so terminated, (a) an amount in cash equal
            in fair market value, as determined by the Board, to the per share
            consideration received in the Change of Control by holders of
            Company common stock for each share of Company common stock held on
            the effective date of the Change of Control, minus (b) the exercise
            price (or purchase price) per share, if any, of the Award.

                  (iii) In the event provision is not made in connection with
            such transaction for the continuance and/or assumption and/or
            cash-out of the options, rights, Restricted Stock and Stock Units
            and Performance Share Awards granted under the 2000 Plan, or for the
            substitution of equivalent options, rights and awards, then there
            shall be no accelerated vesting of any options, rights, Restricted
            Stock and Stock Units and Performance Share Awards granted under the
            2000 Plan at the time of occurrence of the Change of Control.

                  (iv)  On the first anniversary date of a Change of Control,
            all unvested options, rights, Restricted Stock and Stock Units and
            Performance Share Awards shall vest.

                  (v)   In addition, if the Company after a Change of Control
            chooses (a) to terminate the employment of an employee Participant
            (b) to terminate a Participant director's position as a director, or
            (c) to cease to use the services of an independent contractor
            Participant for any period of ninety (90) days, and the Participant
            has unvested options, rights, Restricted Stock and Stock Units or
            Performance Shares, then the unvested options, rights, Restricted
            Stock and Stock Units or Performance shares

<PAGE>

            shall fully vest. This Subparagraph I.11.(iv) shall not apply if a
            Participant is Terminated for Cause or chooses to terminate his or
            her employment or service as a director or independent contractor
            with the Company or its Subsidiaries.

      12.   Agreement With Company. At the time of any awards under the 2000
Plan, the Board will require a Participant to enter into an agreement with the
Company in a form specified by the Board, agreeing to the terms and conditions
of the 2000 Plan and to such additional terms and conditions, not inconsistent
with the 2000 Plan, as the Board may, in its sole discretion, prescribe,
including without limitation the required signature of a noncompetition
agreement or a nondisclosure agreement.

      13.   Amendment and Termination of 2000 Plan. Subject to the following
provisions of this Paragraph 13, the Board may at any time and in any way amend,
suspend or terminate the 2000 Plan. No amendment of the 2000 Plan and, except as
provided in Paragraph I.10, no action by the Board shall, without further
approval of the stockholders of the Company, increase the total number of shares
of Stock with respect to which awards may be made under the 2000 Plan or
materially modify the requirements as to eligibility for participation in the
2000 Plan, if stockholder approval of such amendment is a condition of
Securities and Exchange Commission Rule 16b-3 or its successor rule or statute,
the Code or any exchange or market system on which the Stock is listed at the
time such amendment is adopted. No amendment, suspension or termination of the
2000 Plan shall alter or impair any Stock Option with or without tandem Stock
Appreciation Right, share of Restricted Stock or Performance Unit previously
awarded under the 2000 Plan without the consent of the holder thereof.

II.   INCENTIVE STOCK OPTIONS

      1.    Definition. The award of an Incentive Stock Option under the 2000
Plan entitles the Participant to purchase shares of Stock at a price fixed at
the time the option is awarded, subject to the following terms of this Part II.

      2.    Eligibility. The Board shall designate the employees to whom
Incentive Stock Options, as described in section 422(b) of the Code or any
successor section thereto, are to be awarded under the 2000 Plan and shall
determine the number of option shares to be offered to each of them. Incentive
Stock Options may be awarded only to employees. In no event shall the aggregate
Market Value (determined at the time the option is awarded) of Stock with
respect to which Incentive Stock Options are exercisable for the first time by
an individual during any calendar year (under all plans of the Company and all
Related Companies) exceed $100,000; any Stock Options awarded in excess of this
limit shall be considered as Non-Qualified Stock Options for federal income tax
purposes, determined in the order in which the Stock Options were granted.

      3.    Price. The purchase price of a share of Stock under each Incentive
Stock Option shall be determined by the Board, provided, however, that in no
event shall such price be less than the greater of (a) 100% of the Market Value
of a share of Stock as of the Option Date (or 110% of such Market Value if the
holder of the option owns stock possessing more than 10% of the combined voting
power of all classes of stock of the Company or any Subsidiary) or (b) the par
value of a share of Stock on such date. To the extent provided by the Board, the
full purchase price of each share of Stock purchased upon the exercise of any
Incentive Stock Option shall be paid in cash or in shares of Stock (valued at
Market Value as of the day of exercise), or in any combination thereof, at the
time of

<PAGE>

such exercise and, as soon as practicable thereafter, a certificate representing
the shares so purchased shall be delivered to the person entitled thereto.

      4.    Exercise. Each Incentive Stock Option shall become and be
exercisable at such time or times and during such period or periods, in full or
in such installments as may be determined by the Board at the Option Date. In
addition, if permitted by the Board or the terms of the agreement evidencing
such Stock Option, Participants may elect to pay the purchase price of shares of
Stock purchased upon the exercise of Incentive Stock Options in cash, through
delivery of a full recourse promissory note with terms acceptable to the
Company, or through tendering, either through actual delivery or attestation, of
shares of Stock (valued at Market Value as of the day of exercise) owned by the
Participant, or any combination thereof, equivalent to the purchase price of
such Incentive Stock Options. The Board may permit a Participant to elect to pay
the purchase price upon the exercise of an Option by irrevocably authorizing a
third party to sell shares of Stock (or a sufficient portion of the shares)
acquired upon exercise of the Option and remit to the Company a sufficient
portion of the sale proceeds to pay the entire purchase price and any tax
withholding resulting from such exercise.

      5.    A Participant's payment of the purchase price in connection with the
exercise of an Incentive Stock Option through delivery of shares of Stock (the
"ISO Stock") that were acquired through the exercise of an Incentive Stock
Option and that have not been held for more than one year will be considered a
disposition (within the meaning of Code Section 424(c)) of the ISO Stock,
resulting in the disqualification of the ISO Stock from treatment as an
incentive stock option under Code Section 422, and the Participant's recognition
of ordinary income. Participants should consult with their tax advisors prior to
electing to exercise an Incentive Stock Option by this method.

      6.    Option Expiration Date. The "Expiration Date" with respect to an
Incentive Stock Option or any portion thereof awarded to a Participant under the
2000 Plan means the earliest of:

            (a)   the date that is ten (10) years after the date on which the
      Incentive Stock Option is awarded (or, if the Participant owns stock
      possessing more than 10% of the combined voting power of all classes of
      stock of the Company or any Subsidiary, the date that is five (5) years
      after the date on which the Incentive Stock Option is awarded);

            (b)   the date established by the Board at the time of the award;

            (c)   the date that is one year after the Participant's Date of
      Termination if termination occurred due to Participant's death or
      Disability; or

            (d)   the date that is thirty (30) days following Participant's Date
      of Termination if the Participant's employment or service with the Company
      and all Related Companies terminated due to reasons other than death or
      becoming Disabled, except in the case of Termination for Cause, the
      Expiration Date is the Termination Date.

All rights to purchase shares of Stock pursuant to an Incentive Stock Option
shall cease as of such option's Expiration Date.

III.  NON-QUALIFIED STOCK OPTIONS

<PAGE>

      1.    Definition. The award of a Non-Qualified Stock Option under the 2000
Plan entitles the Participant to purchase shares of Stock at a price fixed at
the time the option is awarded, subject to the following terms of this Part III.

      2.    Eligibility. The Board shall designate the Participants to whom
Non-Qualified Stock Options are to be awarded under the 2000 Plan and shall
determine the number of option shares to be offered to each of them.

      3.    Price. The purchase price of a share of Stock under each
Non-Qualified Stock Option shall be determined by the Board; provided, however,
that in no event shall such price be less than the Market Value of a share of
Stock as of the Option Date.

      4.    Exercise. Each Non-Qualified Stock Option shall become and be
exercisable at such time or times and during such period or periods, in full or
in such installments as may be determined by the Board at the Option Date. To
the extent provided by the Board, the full purchase price of each share of Stock
purchased upon the exercise of any Non-Qualified Stock Option shall be paid in
cash, through delivery of a promissory note with terms acceptable to the
Company, or in shares of Stock (valued at Market Value as of the day of
exercise), or in any combination thereof, at the time of such exercise. In
addition, if permitted by the Board or the terms of the agreement evidencing
such Stock Option, Participants may elect to pay the purchase price of shares of
Stock purchased upon the exercise of Non-Qualified Stock Options by tendering,
either through actual delivery of shares of Stock or though attestation, shares
of Stock (valued at Market Value as of the day of exercise) owned by the
Participant, or any combination thereof, equivalent to the purchase price of
such Non-Qualified Stock Options. The Board may permit a Participant to elect to
pay the purchase price upon the exercise of an Option by irrevocably authorizing
a third party to sell shares of Stock (or a sufficient portion of the shares)
acquired upon exercise of the Option and remit to the Company a sufficient
portion of the sale proceeds to pay the entire purchase price and any tax
withholding resulting from such exercise.

      5.    Option Expiration Date. The "Expiration Date" with respect to a
Non-Qualified Stock Option or any portion thereof awarded to a Participant under
the 2000 Plan means the earliest of:

            (a)   the date established by the Board at the time of the award;

            (b)   the date that is one year after the Participant's Date of
      Termination if termination occurred due to Participant's death or
      Disability; or

            (c)   the date that is thirty (30) days following Participant's Date
      of Termination if the Participant's employment or service with the Company
      and all Related Companies terminated due to reasons other than death or
      becoming Disabled, except in the case of Termination for Cause, the
      Expiration Date is the Termination Date.

All rights to purchase shares of Stock pursuant to a Non-Qualified Stock Option
shall cease as of such option's Expiration Date.

IV.   STOCK APPRECIATION RIGHTS

      1.    Definition. A Stock Appreciation Right is an award that may be
granted in tandem with a Non-Qualified Stock Option or Incentive Stock Option,
and entitles the holder to receive an

<PAGE>

amount equal to the difference between the Market Value of the shares of Stock
at the time of exercise of the Stock Appreciation Right and the option price,
subject to the applicable terms and conditions of the tandem options and the
following provisions of this Part IV.

      2.    Eligibility. The Board may, in its discretion, award the holders of
any Incentive Stock Options or Non-Qualified Stock Options awarded under the
2000 Plan a Stock Appreciation Right under this Part IV concurrent with, or
subsequent to, the award of the Stock Option.

      3.    Exercise. A Stock Appreciation Right may be exercised under the
applicable terms and conditions of the Incentive Stock Option or Non-Qualified
Stock Option with respect to which the Stock Appreciation Right is awarded. A
Stock Appreciation Right shall entitle the holder of a Stock Option to receive,
upon the exercise of the Stock Appreciation Right, shares of Stock (valued at
their Market Value at the time of exercise), cash or a combination thereof, in
the discretion of the Board, in an amount equal in value to the excess of the
Market Value of the shares of Stock subject to the Stock Appreciation Right as
of the date of such exercise over the purchase price of the Stock Option. The
exercise of a Stock Appreciation Right will result in the surrender of the
related Incentive Stock Option or Non-Qualified Stock Option and, unless
otherwise provided by the Board in its sole discretion, the exercise of a Stock
Option will result in the surrender of a related SAR, if any.

      4.    Expiration Date. The "Expiration Date" with respect to a Stock
Appreciation Right shall be determined by the Board, and shall be not later than
the Expiration Date for the related Stock Option. If neither the right nor the
related Stock Option is exercised before the end of the day on which the right
ceases to be exercisable, such right shall be deemed exercised as of such date
and payment shall be made to the holder in cash.

V.    RESTRICTED STOCK

      1.    Definition. Restricted Stock awards are grants of Stock to
Participants, the vesting of which is subject to a required period of employment
or service as a director or independent contractor and any other conditions
established by the Board.

      2.    Eligibility. The Board shall designate the Participants to whom
Restricted Stock is to be awarded and the number of shares of Stock that are
subject to the award.

      3.    Terms and Conditions of Awards. All shares of Restricted Stock
awarded to Participants under the 2000 Plan shall be subject to the following
terms and conditions and to such other terms and conditions, not inconsistent
with the 2000 Plan, as shall be prescribed by the Board in its sole discretion
and as shall be contained in the Agreement referred to in Part I, Paragraph 12.

            (a)   Restricted Stock awarded to Participants may not be sold,
      assigned, transferred, pledged or otherwise encumbered, except as
      hereinafter provided, for a period of 10 years or such shorter period as
      the Board may determine, but not less than one year, after the time of the
      award of such stock (the "Restricted Period"). Except for such
      restrictions, the Participant as owner of such shares shall have all the
      rights of a stockholder, including but not limited to the right to vote
      such shares and, except as otherwise provided by the Board, the right to
      receive all dividends paid on such shares.

            (b)   The Board may in its discretion, at any time after the date of
      the award of Restricted Stock, adjust the length of the Restricted Period
      to account for individual

<PAGE>

      circumstances of a Participant or group of Participants, but in no case
      shall the length of the Restricted Period be less than one year.

            (c)   Except as otherwise determined by the Board in its sole
      discretion, a Participant whose employment or service with the Company and
      all Related Companies terminates prior to the end of the Restricted Period
      for any reason shall forfeit all shares of Restricted Stock remaining
      subject to any outstanding Restricted Stock Award.

            (d)   Each certificate issued in respect of shares of Restricted
      Stock awarded under the 2000 Plan shall be registered in the name of the
      Participant and, at the discretion of the Board, each such certificate may
      be deposited in a bank designated by the Board. Each such certificate
      shall bear the following (or a similar) legend:

            The transferability of this certificate and the shares of stock
            represented hereby are subject to the terms and conditions
            (including forfeiture) contained in the MarketLeap.com, Inc. 2000
            Long-Term Incentive Plan and an agreement entered into between the
            registered owner and MarketLeap.com, Inc. A copy of such plan and
            agreement is on file in the office of the Secretary of
            Marketleap.com, Inc., 2107 Greenbriar Drive, Suite B, Southlake,
            Texas 76092.

            (e)   At the end of the Restricted Period for Restricted Stock, such
      Restricted Stock will be transferred free of all restrictions to a
      Participant (or his or her legal representative, beneficiary or heir).

      4.    Substitution of Cash. The Board may, in its discretion, substitute
cash equal to the Market Value (determined as of the date of distribution) of
Stock otherwise required to be distributed to a Participant in accordance with
Part V, Paragraph 3.

VI.   STOCK UNITS AND PERFORMANCE SHARE AWARDS

      1.    Definitions. A "Stock Unit" Award is the grant of a right to receive
shares of Stock in the future. A "Performance Share" Award is a grant of a right
to receive shares of Stock or Stock Units which is contingent on the achievement
of performance or other objectives during a specified period. The number of
Performance Shares earned, and the value received for them, will be contingent
on the degree to which the performance measures established at the time of the
initial award are met.

      2.    Eligibility. The Board shall designate the Participants to whom
Stock Units or Performance Share Awards are to be awarded, and the number of
units or shares to be the subject of such awards.

      3.    Terms and Conditions of Awards. For each Participant, the Board will
determine the timing of awards; the number of units awarded; the value of units,
which may be stated either in cash or in shares of Stock; the performance
measures used for determining whether the Performance Shares are earned; the
performance period during which the performance measures will apply; the
relationship between the level of achievement of the performance measures and
the degree to which Performance Shares are earned; whether, during or after the
performance period, any revision to the performance measures or performance
period should be made to reflect significant events or changes

<PAGE>

that occur during the performance period; and the number of earned Performance
Shares that will be paid in cash and/or shares of Stock.

      4.    Payment. The Board will compare the actual performance to the
performance measures established for the performance period and determine the
number of units to be paid and their value. Payment for Performance Shares
earned shall be wholly in cash, wholly in Stock or in a combination of the two,
in a lump sum or installments, and subject to vesting requirements and such
other conditions as the Board shall provide. The Board will determine the number
of earned Performance Shares to be paid in cash and the number to be paid in
Stock. For Performance Shares payable in shares of Stock, one share of Stock
will be paid for each share earned, or cash will be paid for each share earned
equal to either (a) the Market Value of a share of Stock at the end of the
performance period or (b) the Market Value of the Stock averaged for a number of
days determined by the Board. For Performance Shares awarded in cash, the value
of each share earned will be paid in its initial cash value, or shares of Stock
will be distributed based on the cash value of the shares earned divided by (a)
the Market Value of a share of Stock at the end of the performance period or (b)
the Market Value of a share of Stock averaged for a number of days determined by
the Board.

      5.    Retirement, Death or Termination. A Participant whose employment or
service with the Company and Related Companies terminates because of Retirement
or death either (i) during a performance period, or (ii) prior to the delivery
date for deferred Stock Units, shall be entitled to the prorated value of earned
Performance Shares or Stock Units, at the conclusion of the performance period
(or the deferred delivery date) based on the ratio of the months the Participant
was employed (or during which he rendered services as a director or independent
contractor) during the period to the total months of the performance period (or
from the date of the award of the Stock Units until the deferred delivery date).
If the Participant's employment or service with the Company and Related
Companies terminates for any reason other than Retirement or death (i) during a
performance period, or (ii) prior to the delivery date for deferred Stock Units,
the Performance Shares or Stock Units will be forfeited on the date his
employment or service with the Company and Related Companies terminates.
Notwithstanding the foregoing provisions of this Part VI, the Board may
determine that the Participant will be entitled to receive all or any portion of
the Performance Shares or Stock Units that he or she would otherwise receive,
and may accelerate the determination and payment of the shares or units or make
such other adjustments as the Board, in its sole discretion, deems desirable.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}]]