Document:

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                                                                    Exhibit 10.7

                               NUMBUS GROUP, INC.

                  2001 AMENDED AND RESTATED STOCK OPTION PLAN

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                                TABLE OF CONTENTS

1.       Purpose.............................................................1

2.       Definitions.........................................................1

3.       Number of Shares Available for Options..............................5

4.       Vesting Limitation for ISOS.........................................5

5.       Conditions for Grant of Options.....................................5

6.       Exercise Price......................................................6

7.       Exercise of Options.................................................7

8.       Exercisability of Options...........................................8

9.       Termination of Option Exercise Period...............................8

10.      Adjustment of Shares................................................9

11.      Transferability of Options.........................................10

12.      Issuance of Shares.................................................10

13.      Administration.....................................................11

14.      Withholding or Deduction for Taxes.................................12

15.      Interpretation.....................................................12

16.      Amendment and Termination of the Plan..............................12

17.      Rights as an Employee or Non-Employee..............................13

18.      Successors and Assigns.............................................13

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                               NIMBUS GROUP, INC.

                   2001 AMENDED AND RESTATED STOCK OPTION PLAN

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         1. PURPOSE. The Nimbus Group, Inc. 2001 Amended and Restated Stock
Option Plan (the "Plan") has been established by Nimbus Group, Inc., a Florida
corporation (the "Company"), to advance the interests of the Company by
providing an additional incentive to attract and retain qualified and competent
persons who are key to the Company, including key employees of and consultants
or advisors to, the Company and its Subsidiaries, if any, and upon whose efforts
and judgment the success of the Company is largely dependent, through the
encouragement of stock ownership in the Company by such persons.

         2. DEFINITIONS. As used herein, the following terms shall have the
meanings indicated.

                  (a) "Affiliate" shall mean a person, entity or organization
which is controlled by, under common control with, controlling, or is an Officer
or Director of, beneficial owner of five percent or greater of the equity or
voting securities of, or, through contract relationship or otherwise exerts
substantial influence over or is substantially influence by, the Company.

                  (b) "Board" shall mean the Board of Directors of the Company.

                  (c) "Cause" shall mean any of the following:

                           (i) a determination by the Company that there has
been a willful, reckless or grossly negligent failure by the Optionee to perform
his or her duties as an Employee or Non-Employee Eligible Individual;

                           (ii) a willful breach by the Optionee of any of the
material terms or provisions of his employment agreement;

                           (iii) any conduct by the Optionee that either results
in his or her conviction of a felony under the laws of the United States of
America or any state thereof, or of an equivalent crime under the laws of any
other jurisdiction;

                           (iv) the commission by the Optionee of an act or acts
involving fraud, embezzlement, misappropriation, theft, breach of fiduciary duty
or material dishonesty against the Company or its Subsidiary, their properties
or personnel;

                           (v) any act by the Optionee that the Company
determines to be in willful or wanton disregard of the Company's best interests,
or which results, or is intended to result, directly or indirectly, in improper
gain or personal enrichment of the Optionee at the expense of the Company;

                           (vi) a determination by the Company that there has
been a willful, reckless or grossly negligent failure by the Optionee to comply
with any rules, regulations, policies or procedures of the Company or any
Subsidiary, or that the Optionee has engaged in

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any act, behavior or conduct showing willful or wanton disregard of the best
interests of the Company or any Subsidiary or occasioned by a deliberate and
material violation or disregard of standards of behavior that the Company or any
Subsidiary has a right to expect of its Employees or Non-Employee Eligible
Individuals; or

                           (vii) if the Optionee, while employed by or in the
service of the Company or any Subsidiary, and for two years thereafter, violates
a confidentiality, non-solicitation and/or noncompete agreement with the Company
or any Subsidiary, or fails to safeguard, divulges, communicates, uses to the
detriment of the Company or any Subsidiary or for the benefit of any person or
persons, or misuses in any way, any Confidential Information; PROVIDED, HOWEVER,
if the Optionee is subject to an employment agreement which defines "Cause,"
then "Cause" shall have the meaning set forth in such employment agreement.

                  (d) "Change of Control" shall mean any of the following
events: (i) any "person", as such term is used in section 14(d) of the
Securities Exchange Act, other than the Company, any employee benefit plan of
the Company or any Affiliate, any Affiliate of the Company, or any shareholder
of the Company as of the Effective Date, is or becomes the "beneficial owner"
(as defined in Rule 13d-3 under the Securities Exchange Act (or any successor
rule), directly or indirectly, of twenty percent (20%) or more of the combined
voting power of the Company's common stock; (ii) any consolidation or merger of
the Company, other than a consolidation or merger with the sole purpose of
reorganizing the Company into another form of entity or changing the Company's
state of organization; or (iii) any sale, lease, exchange or other transfer (in
one or a series of related transactions) of all, or substantially all, of the
assets of the Company other than any sale, lease, exchange or other transfer to
any entity which the Company or its stockholders own, directly or indirectly,
all of the outstanding voting securities of such entity after such transfer.

                  (e) "Code" shall mean the Internal Revenue Code of 1986, as
amended, and the rules and regulations promulgated thereunder.

                  (f) "Committee" shall mean the compensation committee
appointed by the Board pursuant to Section 13 hereof to administer the Plan or,
if not appointed, the Board.

                  (g) "Common Stock" shall mean the Company's Common Stock, par
value $.001 per share.

                  (h) "Company" shall mean Nimbus Group, Inc., a Florida
corporation, f/k/a Take To Auction.com, Inc.

                  (i) "Confidential Information" shall mean any and all
information pertaining to the Company (including, without limitation,
information relating to its products, services, marketing practices, production
practices, management agreements, clients, customers, prospects, sources of
prospects, suppliers, financial condition, results of operations, costs and
methods of doing business, owners and ownership structure) that is not generally
available to the public.

                  (j) "Covered Employee" shall mean any individual who, as of
the close of the Company's taxable year in which an Option is granted, is (i)
the Chief Executive Officer of the

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Company or is acting in such capacity ("CEO"), (ii) among the four highest
compensated officers of the Company (other than the CEO) whose compensation is
required to be reported to Shareholders under the Securities Exchange Act, or
(iii) otherwise considered to be a "Covered Employee" within the meaning of
Section 162(m) of the Code.

                  (k) "Director" shall mean a member of the Board.

                  (l) "Disability" shall have the same meaning as a "total and
permanent (mental or physical) disability" as set forth in Section 22(e)(3) of
the Code, as determined by a medical doctor selected by the Committee.

                  (m) "Employee" shall mean any person, including an officer or
a director, who is employed by the Company, or any Subsidiary.

                  (n) "Fair Market Value" of a Share on any date of reference
shall be the Closing Price of a share of Common Stock on such date, unless the
Committee in its sole discretion shall determine otherwise in a fair and uniform
manner. For this purpose, the "Closing Price" of the Common Stock on any
business day shall be (i) if the Common Stock is listed or admitted for trading
on any United States national securities exchange, or if actual transactions are
otherwise reported on a consolidated transaction reporting system, the last
reported sale price of the Common Stock on such exchange or reporting system, as
reported in any newspaper of general circulation; (ii) if the Common Stock is
quoted on the National Association of Securities Dealers Automated Quotations
System ("NASDAQ"), or any similar system of automated dissemination of
quotations of securities prices in common use, the mean between the closing high
bid and low asked quotations for such day of the Common Stock on such system; or
(iii) if neither clause (i) nor (ii) is applicable, the mean between the high
bid and low asked quotations for the Common Stock as reported by the National
Quotation Bureau, Incorporated if at least two securities dealers have inserted
both bid and asked quotations for the Common Stock on at least five of the 10
preceding days. If the information set forth in clauses (i) through (iii) above
is unavailable or inapplicable to the Company (E.G., if the Company's Common
Stock is not then publicly traded or quoted), then the "Fair Market Value" of a
Share shall be the fair market value (I.E., the price at which a willing seller
would sell a Share to a willing buyer when neither is acting under compulsion
and when both have reasonable knowledge of all relevant facts) of a share of the
Common Stock on the business day immediately preceding such date as the
Committee in its sole and absolute discretion shall determine in a fair and
uniform manner.

                  (o) "Incentive Stock Option" shall mean an incentive stock
option as defined in Section 422 of the Code.

                  (p) "Non-Employee Eligible Individual" shall mean an advisor
or consultant to the Company or any Subsidiary who contributes or has an
opportunity to contribute to the success of the Company or any Subsidiary.

                  (q) "Non-Statutory Stock Option" shall mean an Option which is
not an Incentive Stock Option.

                  (r) "Officer" shall mean the Company's chairman, president,
principal financial officer, principal accounting officer (or, if there is no
such accounting officer, the controller), any

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unit, division or Subsidiary president, any vice-president of the Company in
charge of a principal business unit, division or function (such as sales,
administration or finance), any other officer who performs a policy-making
function, or any other person who performs similar policy-making functions for
the Company. Officers of Subsidiaries shall be deemed Officers of the Company if
they perform such policy-making functions for the Company. As used in this
paragraph, the phrase "policy-making function" does not include policy-making
functions that are not significant.

                  (s) "Option" shall mean a stock option to purchase Shares
granted pursuant to this Plan.

                  (t) "Option Agreement" shall mean the agreement between the
Company and the Optionee pursuant to which Options are granted.

                  (u) "Optionee" shall mean a person to whom an Option is
granted under this Plan or any person who succeeds to the rights of such person
under this Plan by reason of the death of such person or otherwise.

                  (v) "Outside Director" shall mean a member of the Board who:
(i) is not a current employee of the Company or any Affiliate, (ii) is not a
former employee of the Company or any Affiliate who receives compensation for
prior services (other than benefits under a tax-qualified retirement plan)
during the taxable year; (iii) has not been an officer of the Company or any
Affiliate; (iv) does not receive remuneration either directly or indirectly, in
any capacity other than as a director; and (v) satisfies any other conditions
that shall from time to time be required to qualify as an "outside director"
under Section 162(m) of the Code and the regulations thereunder and also as a
"Non-Employee Director" under Rule 16b-3 promulgated under the Securities
Exchange Act. For this purpose, "remuneration" shall have the meaning afforded
that term pursuant to Treasury Regulations issued under Section 162(m) of the
Code, and shall exclude any de minimis remuneration excluded under those
Treasury Regulations.

                  (w) "Plan" shall mean the Nimbus Group, Inc. 2001 Amended and
Restated Stock Option Plan, effective upon ratification by the Company and its
Shareholders on November 16, 2001, which replaced the Take To Auction.com, Inc.
1999 Stock Option Plan, effective August 25, 1999.

                  (x) "Retirement" shall mean the occurrence of an Optionee's
termination of employment or service with the Company and its Subsidiaries after
completing at least five years of service and attaining age 65.

                  (y) "Rule 16b-3" shall mean Rule 16b-3 promulgated under the
Securities Exchange Act.

                  (z) "Securities Exchange Act" shall mean the Securities
Exchange Act of 1934, as amended.

                  (aa) "Share" shall mean one share of Common Stock, as adjusted
in accordance with Section 10 of this Plan.

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                  (bb) "Subsidiary" shall mean any corporation (other than the
Company), partnership, joint venture or other entity (collectively referred to
as "entities") in any unbroken chain of entities beginning with the Company if,
at the time of the granting of the Option, each of the entities other than the
last entity in the unbroken chain owns equity possessing 50 percent or more of
the profits interest or total combined voting power of all classes of equity in
one of the other equities in such chain.

         3. NUMBER OF SHARES AVAILABLE FOR OPTIONS. The Company may grant to
Optionees from time to time Options to purchase an aggregate of up to no more
than 4,442,857 Shares as of the effective date of this Plan, as further adjusted
by Section 10; PROVIDED, however, that if any Option granted under this Plan is
not exercised in the time allowed for such exercise, or if any such Option shall
terminate, expire or be canceled, forfeited or surrendered as to any Shares, the
Shares relating to such lapsed Option shall be available for issuance pursuant
to new Options subsequently granted under this Plan. Upon the grant of any
Option hereunder, authorized and unissued, or treasury, Shares shall be reserved
for issuance to permit exercise under this Plan. An Option granted hereunder
shall be either an Incentive Stock Option or a Non-Statutory Stock Option as
determined by the Committee at the time of grant of such Option and the Option
Agreement shall clearly state whether it is an Incentive Stock Option or
Non-Statutory Stock Option or, failing a clear indication, be deemed a
Non-Statutory Stock Option. All Incentive Stock Options shall be granted within
10 years from the effective date of this Plan.

         4. VESTING LIMITATION FOR ISOs. Options otherwise qualifying as
Incentive Stock Options hereunder will not be treated as Incentive Stock Options
to the extent that the aggregate Fair Market Value (determined at the time the
Option is granted) of the Shares, with respect to which Options meeting the
requirements of Code Section 422(b) are exercisable for the first time by any
individual during any calendar year (under all stock option or similar plans of
the Company and any Subsidiary), exceeds $100,000.

         5. CONDITIONS FOR GRANT OF OPTIONS.

                  (a) Each Option shall be evidenced by a written Option
Agreement in the form of Exhibit A attached hereto that may contain any term
deemed necessary or desirable by the Committee, provided such terms are not
inconsistent with this Plan or any applicable law.

                  (b) Optionees shall be selected by the Committee from: (i) all
Employees (including Directors and Officers who are Employees); (ii)
Non-Employee Eligible Individuals; and (iii) former or prospective Employees and
Non-Employee Eligible Individuals.

                  (c) In granting Options, the Committee shall take into
consideration the contribution the person has made, or is expected to make, with
respect to the success of the Company or its Subsidiaries and such other factors
as the Committee shall determine. The Committee shall also have the authority to
consult with and receive recommendations from Officers and other personnel of
the Company and its Subsidiaries with regard to these matters. The Committee may
from time to time prescribe such terms and conditions concerning such Options as
it deems appropriate, including, without limitation: (i) the exercise price or
prices of the Option or any installments thereof; (ii) the date or dates on
which the Option becomes and/or remains exercisable; (iii) providing that the
Option vests or becomes exercisable in installments

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over a period of time, and/or upon the attainment of certain standards,
specifications or goals; (iv) conditioning the exercise of an Option on the
continued employment or service of the Optionee for a specified period of time;
or (v) other conditions or termination events with respect to the exercisability
of any Option, provided that such other conditions or events are not more
favorable to an Optionee than those expressly permitted herein.

                  (d) The Options granted to Employees or Non-Employee Eligible
Individuals under this Plan shall be in addition to regular salaries, pension,
life insurance or other benefits related to their employment with or service to
the Company or its Subsidiaries.

                  (e) Notwithstanding any other provisions of this Plan to the
contrary, an Incentive Stock Option shall not be granted to any person owning
directly or indirectly (through attribution under Section 424(d) of the Code) at
the date of grant, stock possessing more than 10% of the total combined voting
power of all classes of stock of the Company (or of its parent or subsidiary, as
those terms are defined in Section 424 of the Code, at the date of grant) unless
the option price of such Option is at least 110% of the Fair Market Value of the
Shares subject to such Option on the date the Option is granted, and such Option
by its terms is not exercisable after the expiration of five years from the date
such Option is granted.

                  (f) Notwithstanding any other provision of this Plan, and in
addition to any other requirements of this Plan, the aggregate number of Shares
with respect to which Options may be granted to any one Optionee may not exceed
sixty percent (60%) of authorized Options, subject to adjustment as provided in
Section 10(a) hereof.

                  (g) Notwithstanding any other provision of this Plan, and in
addition to any other requirements of this Plan, Options may not be granted to a
Covered Employee unless the grant of such Option is authorized by, and all of
the terms of such Options are determined by, a Committee that is appointed in
accordance with Section 13 of this Plan and all of whose members are Outside
Directors.

                  (h) Incentive Stock Options may be granted only to Employees.

                  (i) The Committee may, in its sole discretion, condition the
grant of an Option upon the execution and delivery of confidentiality,
non-competition and other restrictive covenants and agreements, all of which may
be incorporated into the Option Agreement.

                  (j) The date of grant of an Option shall, for all purposes, be
the date on which the Board makes the determination to grant such Option. Notice
of the determination shall be given to each Optionee within a reasonable time
after the date of such grant.

         6. EXERCISE PRICE.

                  (a) Except as provided in this Section 6, the exercise price
per Share of any Option shall be the price determined by the Committee at the
time the Option is granted, provided it is in excess of the Share's par value.

                  (b) Subject to Section 5(e), the exercise price of any
Incentive Stock Option shall not be less than the Fair Market Value of the Share
underlying the Option (as determined in the

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         sole and absolute discretion of the Committee in a fair and uniform
         manner) on the date such Incentive Stock Option is granted.

         7. EXERCISE OF OPTIONS.

                  (a) An Option shall be deemed exercised when: (i) the Company
has received written notice of such exercise in accordance with the terms of the
Option; (ii) full payment of the exercise price for all of the Shares as to
which the Option is exercised has been made; (iii) the Optionee has agreed to be
bound by the terms, provisions and conditions of any applicable shareholders'
agreement; and (iv) arrangements that are satisfactory to the Committee in its
sole discretion have been made for the Optionee's payment to the Company of the
amount that is necessary for the Company or the Subsidiary employing the
Optionee to withhold in accordance with applicable Federal or state tax
withholding requirements. Unless further limited by the Committee in any Option
Agreement, the exercise price of any Option may be paid in cash, by certified or
official bank check, by personal check (with the approval of the Committee), by
money order, with Shares owned by the Optionee that have been owned by the
Optionee for more than 6 months on the date of surrender or such other period as
may be required to avoid a charge to the Company's earnings for financial
accounting purposes, by authorization for the Company to withhold Shares
issuable upon exercise of the Option, by arrangement with a broker that is
acceptable to the Committee where payment of the exercise price is made pursuant
to an irrevocable direction to the broker to deliver all or a part of the
proceeds from the sale of the Option Shares to the Company in payment of the
exercise price or by a combination of the above, or by promissory note (as
described below). If the exercise price is paid in whole or in part with Shares,
the value of the Shares surrendered shall be their Fair Market Value on the date
the Option is exercised.

                  (b) The Company in its sole discretion may, on an individual
basis or pursuant to a general program established in connection with this Plan,
lend money to an Optionee, guarantee a loan to an Optionee, or otherwise assist
an Optionee to obtain the financing necessary to exercise all or a portion of an
Option granted hereunder or to pay any tax liability of the Optionee
attributable to such exercise. If the exercise price is paid in whole or in part
with the Optionee's promissory note, such note shall: (i) provide for full
recourse to the maker; (ii) be collateralized by the pledge of the Shares that
the Optionee purchases upon exercise of such Option; (iii) bear interest at the
prime rate of the Company's principal lender, plus two percent; and (iv) contain
such other terms as the Board or Committee in its sole discretion shall
reasonably require.

                  (c) No Optionee shall be deemed to be a holder of any Shares
subject to an Option unless and until a stock certificate or certificates for
such Shares are issued to such person(s) under the terms of this Plan (as
evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company). Until the issuance of the stock
certificate evidencing the Shares as to which an Option has been exercised, no
right to vote or to receive dividends or any other rights as a shareholder shall
exist with respect to such Shares. No adjustment shall be made for dividends
(ordinary or extraordinary, whether in cash, securities or other property) or
distributions or other rights for which the record date is prior to the date
such stock certificate is issued, notwithstanding the exercise of such Option,
except as expressly provided in Section 10 hereof.

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         8. EXERCISABILITY OF OPTIONS.

                  (a) Except as otherwise provided in this Section 8 and subject
to Section 12, an Option shall become exercisable in such amounts, at such
vesting intervals, upon such events or occurrences, and upon such other terms
and conditions as shall be provided in the individual's Option Agreement,.

                  (b) Subject to Section 5(e), the expiration date(s) of an
Option shall be determined by the Committee at the time of grant, but in no
event shall an Option be exercisable after the expiration of 7 years from the
date of grant of the Option.

                  (c) Unless otherwise expressly provided in any Option
Agreement, and notwithstanding the exercise schedule set forth in any Option
Agreement, each outstanding Option, may, in the sole discretion of the
Committee, become fully exercisable upon the date of the occurrence of any
Change of Control or the Optionee's termination of employment with the Company
by reason of Retirement, death or Disability. However, unless otherwise
expressly provided in any Option Agreement, the Option shall not be exercisable
earlier than six months after the date of grant, and if and only if Optionee
remains in the employ or service of the Company or Subsidiary, as the case may
be, on such date.

         9. TERMINATION OF OPTION EXERCISE PERIOD.

                  (a) Unless otherwise expressly provided in any Option
Agreement, the unexercised portion of any Option granted to an Optionee shall
automatically and without notice immediately terminate at the earliest to occur
of the following:

                           (i) one year after the date on which the Optionee's
employment or service is terminated for any reason, other than by reason of: (A)
Cause; (B) voluntary termination of employment or service by the Optionee; or
(C) the Optionee's death;

                           (ii) immediately upon the termination by the Company
of the Optionee's employment or service for Cause;

                           (iii) ninety days after the voluntary termination of
employment or service by the Optionee;

                           (iv) one year after the date of the Optionee's death
PROVIDED, that with respect to the death of an Optionee who previously
terminated his employment or his service by reason of Disability, the option
exercise period shall expire at the later to occur of one year following the
date on which the Optionee's employment or service with the Company was
terminated due to Disability, or one month following the Optionee's death.

                  (b) Unless otherwise expressly provided in any Option, the
Committee in its sole discretion may, by giving written notice ("cancellation
notice") to the Optionee, cancel, effective upon the date of the consummation of
any Change of Control, any Option that remains unexercised on such date. Such
cancellation notice shall be given within a reasonable period of time prior to
the proposed date of such cancellation and may be given either before or after
approval of such corporate transaction.

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                  (c) Upon termination of an Option (or portion thereof)
pursuant to the foregoing provisions of this Section 9, any Option (or portion
thereof) not previously exercised shall be canceled.

         10. ADJUSTMENT OF SHARES.

                  (a) If, at any time while this Plan is in effect or
unexercised Options are outstanding, there shall be any increase or decrease in
the number of issued and outstanding Common Stock through the declaration of a
stock dividend, through any recapitalization, reclassification, stock split-up,
combination or exchange of Common Stock (other than any such exchange or
issuance of Common Stock through which Common Stock is issued to effect an
acquisition of another business or entity or the Company's purchase of Common
Stock to exercise a "call" purchase option), then and in such event:

                           (i) appropriate adjustment shall be made in the
maximum number of Shares available for grant under this Plan, so that the same
percentage of the Company's issued and outstanding Shares shall continue to be
subject to being so optioned; and

                           (ii) appropriate adjustment shall be made in the
number of Shares and the exercise price per Share thereof then subject to any
outstanding Option, so that the same percentage of the Company's issued and
outstanding Shares shall remain subject to purchase at the same aggregate
exercise price.

                  (b) Such adjustments shall be made by the Committee, whose
determination shall be final, binding and conclusive.

                  (c) Subject to the specific terms of any Option Agreement, the
Committee may change the terms of Options outstanding under this Plan, with
respect to the option price or the number of Shares subject to the Options, or
both, when, in the Committee's sole judgment and discretion, such adjustments
become appropriate by reason of a Change of Control.

                  (d) Except as otherwise expressly provided herein, the
issuance by the Company of shares of its capital stock of any class, or
securities convertible into or exchangeable for shares of its capital stock of
any class, either in connection with a direct or underwritten sale or upon the
exercise of rights or warrants to subscribe therefor or purchase such shares, or
upon conversion of shares or obligations of the Company convertible into such
shares or other securities, shall not affect, and no adjustment by reason
thereof shall be made with respect to, the number of or exercise price of Shares
then subject to outstanding Options granted under this Plan.

                  (e) Without limiting the generality of the foregoing, the
existence of outstanding Options granted under this Plan shall not affect in any
manner the right or power of the Company to make, authorize or consummate: (i)
any or all adjustments, recapitalizations, reclassifications, reorganizations or
other changes in the Company's capital structure or its business; (ii) any
merger or consolidation of the Company or to which the Company is a party; (iii)
any issuance by the Company of debt securities, or preferred or preference
stock, that would rank senior to or above the Shares subject to outstanding
Options; (iv) any purchase or issuance by the Company of Shares or other classes
of common stock or common equity securities; (v) the dissolution or

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liquidation of the Company; (vi) any sale, transfer, encumbrance, pledge or
assignment of all or any part of the assets or business of the Company; or (vii)
any other corporate act or proceeding, whether of a similar character or
otherwise.

                  (f) The Optionee shall receive written notice within a
reasonable time prior to the consummation of such action advising the Optionee
of any of the foregoing. The Committee may, in the exercise of its sole
discretion, in such instances declare that any Option shall terminate as of a
date fixed by the Board and give each Optionee the right to exercise her or his
Option.

         11. TRANSFERABILITY OF OPTIONS.

                  (a) No Option shall be subject to alienation, assignment,
pledge, charge or other transfer other than by the Optionee by will or the laws
of descent and distribution, and any attempt to make any such prohibited
transfer shall be void; PROVIDED, however, that a Non-Statutory Stock Option may
be transferred to a family member or trust for the benefit of a family member if
the Committee's prior written consent is obtained (which consent may be obtained
at the time an Option is granted) and provided the transaction does not violate
the requirements of Rule 16b-3. Each Option shall be exercisable during the
Optionee's lifetime only by the Optionee, or in the case of a Non-Statutory
Stock Option that has been assigned or otherwise transferred with the
Committee's prior written consent, only by the assignee consented to by the
Committee.

                  (b) Unless the Committee's prior written consent is obtained
(which consent may be obtained at the time an Option is granted), and provided
the transaction does not violate the requirements of Rule 16b-3, no Shares
acquired by an Officer, as that term is defined under Rule 16b-3, or Director
pursuant to the exercise of an Option may be sold, assigned, pledged or
otherwise transferred prior to the expiration of the six-month period following
the date on which the Option was granted.

         12. ISSUANCE OF SHARES.

                  (a) Notwithstanding any other provision of this Plan, the
Company shall not be obligated to issue any Shares unless it is advised by
counsel of its selection that it may do so without violation of the applicable
Federal and State laws pertaining to the issuance of securities, and may require
any stock so issued to bear a legend, may give its transfer agent instructions,
and may take such other steps, as in its judgment are reasonably required to
prevent any such violation.

                  (b) As a condition of any sale or issuance of Shares upon
exercise of any Option, the Committee may require such agreements or
undertakings, if any, as the Committee may deem necessary or advisable to assure
compliance with any law, regulation, agreement or other applicable restriction,
including, but not limited to, the following:

                           (i) a representation and warranty by the Optionee to
the Company, at the time any Option is exercised, that he is acquiring the
Shares to be issued to him for investment and not with a view to, or for sale in
connection with, the distribution of any such Shares; and

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                           (ii) (A) an agreement and undertaking to comply with
all of the terms, restrictions and provisions set forth in any then applicable
shareholders' agreement relating to the Shares, including without limitation any
restrictions on transferability, any rights of first refusal and any option of
the Company to "call" or purchase such Shares under then applicable agreements,
and (B) any restrictive legend or legends, to be embossed or imprinted on Share
certificates, that are, in the discretion of the Committee, necessary or
appropriate to comply with the provisions of any securities law or other
restriction applicable to the issuance of the Shares.

         13. ADMINISTRATION.

                  (a) This Plan shall be administered by the Committee, which
shall consist of not less than two Directors, each of whom shall be Outside
Directors. The Committee shall have all of the powers of the Board with respect
to this Plan. Any member of the Committee may be removed at any time, with or
without cause, by resolution of the Board, and any vacancy occurring in the
membership of the Committee may be filled by appointment by the Board.

                  (b) Subject to the provisions of this Plan, the Committee
shall have the authority, in its sole discretion, to: (i) grant Options; (ii)
determine the Fair Market Value per Share; (iii) determine the exercise price
per Share at which Non-Statutory Stock Options may be exercised; (iv) determine
the Optionees to whom, and the time or times at which, Options shall be granted;
(v) determine the number of Shares subject to each Option; (vi) determine the
terms, conditions and provisions of each Option granted (which need not be
identical); (vii) with the consent of the holder thereof, modify or amend each
Option; (viii) defer (with the consent of the Optionee) or accelerate the
exercise date of any Option; and (ix) make all other determinations deemed
necessary or advisable for the administration of this Plan.

                  (c) The Committee may, from time to time, adopt rules and
regulations for carrying out the purposes of this Plan. The Committee's
determinations and its interpretation and construction of any provision of this
Plan or any Option shall be final and conclusive, and binding upon all Optionees
and any other holders of any Options granted under this Plan.

                  (d) Any and all decisions or determinations of the Committee
shall be made either: (i) by a majority vote of the members of the Committee at
a meeting of the Committee; or (ii) without a meeting by the unanimous written
approval of the members of the Committee.

                  (e) The Board may reserve to itself the power to grant Options
to Employees or Directors or directors of any Subsidiary who are not Covered
Employees. If and to the extent that the Board reserves such powers, then all
references herein to the Committee shall refer to the Board with respect to the
Options granted by the Board.

                  (f) No Member of the Committee, or any Officer or Director,
shall be personally liable for any act or omission made in good faith in
connection with this Plan.

                  (g) The inability of the Company to obtain authority from any
regulatory body having jurisdiction over the grant of options under the Plan,
which authority is deemed by the Company's legal counsel to be necessary to the
lawful issuance and sale of any Shares hereunder, shall relieve the Company of
any liability in respect of the failure to issue or sell such Shares as to which
such requisite authority shall not have been obtained.

                                       11
<PAGE>

         14. WITHHOLDING OR DEDUCTION FOR TAXES. If at any time specified herein
for the making of any issuance or delivery of any Option or Common Stock to any
Optionee, any law or regulation of any governmental authority having
jurisdiction in the premises shall require the Company to withhold, or to make
any deduction for, any taxes or take any other action in connection with the
issuance or delivery then to be made, such issuance or delivery shall be
deferred until such withholding or deduction shall have been provided for by the
Optionee or beneficiary, or other appropriate action shall have been taken, as
determined by the Committee in its sole discretion.

         15. INTERPRETATION.

                  (a) This Plan shall be administered and interpreted so that
all Incentive Stock Options granted under this Plan will qualify as Incentive
Stock Options under Section 422 of the Code. If any provision of this Plan
should be held invalid for the granting of Incentive Stock Options or illegal
for any reason, such determination shall not affect the remaining provisions
hereof, and this Plan shall be construed and enforced as if such provision had
never been included in this Plan.

                  (b) As it is the intent of the Company that the Plan comply in
all respects with Rule 16b-3, any ambiguities or inconsistencies in construction
of the Plan shall be interpreted to give effect to such intention, and if any
provision of the Plan is found not to be in compliance with Rule 16b-3, such
provision shall be deemed null and void to the extent required to permit the
Plan to comply with Rule 16b-3. The Board and the Committee each may from time
to time adopt rules and regulations under, and amend, the Plan in furtherance of
the intent of the foregoing.

                  (c) This Plan shall be governed by the internal laws of the
State of Florida.

                  (d) Headings contained in this Plan are for convenience only
and shall in no manner be construed as part of this Plan or affect the meaning
or interpretation of any part of this Plan.

                  (e) Any reference to the masculine, feminine, or neuter gender
shall be a reference to such other gender as is appropriate.

         16. AMENDMENT AND TERMINATION OF THE PLAN. Either the Board or the
Committee may from time to time amend or terminate this Plan or any Option
without approval of the shareholders of the Company, unless shareholder approval
is required by Rule 16b-3, applicable stock exchange or quotation systems, or
applicable Code provisions; PROVIDED, however, that, except to the extent
provided in Section 9, no amendment or termination of this Plan or any Option
issued hereunder shall substantially impair any Option previously granted to any
Optionee without the consent of such Optionee. Notwithstanding the foregoing,
the Plan shall terminate on the tenth (10th) anniversary of its formal adoption
by the Company (the "Plan Termination"), provided however that, except to the
extent provided in Section 9, the Plan Termination shall not substantially
impair any Option previously granted to any Optionee without the consent of such
Optionee.

                                       12
<PAGE>

         17. RIGHTS AS AN EMPLOYEE OR NON-EMPLOYEE. Neither the Plan nor any
Option granted pursuant thereto shall be construed to give any person the right
to remain in the employ or service of the Company or any Affiliate, or to affect
the right of the Company or any Affiliate to terminate such individual's
employment or service at any time with or without cause. The grant of an Option
shall not entitle the Optionee to, or disqualify the Optionee from,
participation in the grant of any other Option under the Plan or participation
in any other benefit plan maintained by the Company or any Affiliate.

         18. SUCCESSORS AND ASSIGNS. The Plan shall be binding upon the
Company's successors and assigns and shall inure to the benefit of any
representative, executor, administrator, heir, or legatee of the Optionee.

                                       13<PAGE>
                                                                   Exhibit 10.50

                         SEVERANCE AND RELEASE AGREEMENT

         THIS SEVERANCE AND RELEASE AGREEMENT ("AGREEMENT") is entered effective
December 31, 2001, (the "TERMINATION DATE") by and between DALEEN TECHNOLOGIES,
INC., a Delaware corporation located at 1750 Clint Moore Road, Boca Raton,
Florida 33487 ("COMPANY") and DAVID B. COREY ("EMPLOYEE") relating to Employee's
termination of employment and separation from with Company. The term "Company"
includes any or all current or former affiliated corporations, parent
corporations, partnerships, divisions, and subsidiaries, and the officers,
directors, shareholders, employees, agents, attorneys, successors and assigns of
the Employer.

SECTION 1. SEPARATION FROM EMPLOYMENT AND SEVERANCE PAYMENT.

         A.       Employee's termination as an employee of the Company will
                  begin and be effective of the Termination Date. Employee will
                  be paid his remaining standard gross wages less applicable
                  taxes and withholdings in accordance with standard payroll
                  practices through the Termination Date plus all applicable
                  severance benefits as provided for in the Employee's
                  Employment Agreement dated January 31, 1998, as amended (the
                  "Employment Agreement"). Employee will also be reimbursed for
                  all legitimate business expenses incurred on Company's behalf
                  through the Termination Date which have been approved by the
                  Company and otherwise in accordance with the Company's written
                  policies. Employee will also be paid any accrued personal and
                  vacation time as of the Termination Date.

         B.       Employee acknowledges that the monies described in this
                  Agreement and the Employment Agreement represent all monies to
                  which he may now or may hereafter be entitled from the
                  Company. This includes but is not limited to back-pay,
                  severance pay, wages, overtime pay, commissions, bonuses,
                  personal time pay, vacation pay, relocation fees, benefits,
                  attorneys' fees and damages of any nature whatsoever.
                  Severance benefits provided to the Employee under the
                  Employment Agreement shall include payments made to satisfy
                  requirements under the Warn Act, provided, no services are
                  required by the Employee during the Warn Act notice period.

SECTION 2. COVENANTS OF EMPLOYEE.

         A.       Employee (on his own behalf and on behalf of his heirs,
                  personal representatives, and any other person who may be
                  entitled to make a claim on his behalf or through him) freely
                  releases and discharges Company, its directors, officers,
                  employees, subsidiaries, predecessors, successors, and assigns
                  from any and all claims, charges, actions, and causes of
                  action of any kind or nature, that Employee once had or now
                  has or that arise on or before the effective date of this
                  Agreement, including any and all claims arising out of or in
                  any way related to Employee's employment, proposed relocation,
                  other agreements by and between the Company and Employee
                  referenced herein, or separation of employment with Company,
                  whether such claims are now known or unknown to Employee.
                  Employee agrees not to bring any charges, claims, or actions
                  against Company in the future, except claims that Company has
                  breached its obligations set forth in this Agreement or its
                  obligations to provide severance benefits in the Employment
                  Agreement.

         B.       The rights and claims which Employee waives and releases in
                  this Agreement include, to every extent allowed by law, those
                  arising under the Employee

<PAGE>

                  Retirement Income Security Act of 1974, the Civil Rights Acts
                  of 1866, 1871, 1964 and 1991, the Rehabilitation Act of 1973,
                  the Equal Pay Act of 1963, the Vietnam Era Veteran's
                  Readjustment Assistance Act of 1974, the Occupational Safety
                  and Health Act, the Immigration reform and Control Act of
                  1986, the Americans with Disabilities Act, the Age
                  Discrimination in Employment Act of 1967, the Older Worker's
                  Benefit Protection Act, the Florida Civil Rights Act, and the
                  Worker Adjustment and Retraining Act of 1988. This is not a
                  complete list, and Employee waives and releases all similar
                  rights and claims under all other federal, state and local
                  discrimination provisions and all other statutory and common
                  law causes of action, to the extent allowed by law, relating
                  in any way to Employee's employment or separation from
                  employment with Company.

                  In addition, Employee knowingly waives all claims or rights
                  pursuant to the Age Discrimination in Employment Act (ADEA) in
                  exchange for the monies payable pursuant to this Agreement.
                  Employee acknowledges that he has the right to consult with an
                  attorney prior to agreeing to this portion of the Agreement.
                  Employee has twenty one days to consider this portion of the
                  Agreement and has seven days after executing this Agreement to
                  revoke this specific waiver of the ADEA claims.

         C.       Employee hereby agrees to remise, release, acquit, satisfy,
                  and forever discharge Company, of and from all, and all manner
                  of action and actions, cause and causes of action, suits,
                  debts, dues, sums of money, accounts, reckonings, bonds,
                  bills, specialties, covenants, contracts, controversies,
                  agreements, promises, variances, trespasses, damages,
                  judgments, executions, claims and demands whatsoever, in law
                  or in equity, which Employee ever had, now has, or which any
                  personal representative, successor, heir or assign of
                  Employee, hereafter can, shall or may have, against Company,
                  for, upon or by reason of any matter, cause or thing
                  whatsoever, from the beginning of the world to the day of this
                  Agreement except claims that Company has breached its
                  obligations set forth in this Agreement or its obligations to
                  provide severance benefits pursuant to the Employment
                  Agreement. Employee represents that he does not currently have
                  on file, and has not made in any forum, any complaints,
                  charges, or claims (whether civil, administrative, or
                  criminal) against Company.

         D.       Employee agrees that all severance benefits to be paid to
                  Employee by Company pursuant to the Employment Agreement
                  represents benefits to which Employee would not be entitled
                  absent this Agreement. The Company agrees that all covenants
                  provide to the Company pursuant to the Employment Agreement
                  represent material benefits to the Company which the Company
                  would not be entitled to absent this Agreement.

         E.       Employee agrees to the following Non-Solicitation/Competition
                  and Confidentiality Provisions:

                  (a)      During the Severance Period, as defined in the
                           Employment Agreement, Employee shall not directly or
                           indirectly, as owner, officer, director, employee or
                           agent conduct or be related to any business in direct
                           competition with any business of Company.

                  (b)      In addition to, and not in limitation of the other
                           provisions hereof or of any other agreement between
                           Employee and Company, Employee shall not at any time
                           in any manner other than in the ordinary course of
                           good faith competition only as permitted herein
                           interfere with, disturb, disrupt, decrease or
                           otherwise jeopardize

                                       2
<PAGE>

                           the business of Company or do or permit to be done
                           anything which may tend to take away or diminish the
                           trade, business or good will of the Company or give
                           to any person the benefit or advantage of the
                           Company's methods of operation, advertising,
                           publicity, training, business customers or accounts,
                           or any other information relating to or useful to
                           Company's business. This provision shall not apply to
                           information already known or readily available to the
                           public.

                  (c)      Except as provided for herein, the existence of any
                           claim or cause of action by Employee against Company
                           predicated on this Agreement or otherwise, shall not
                           constitute a defense to the enforcement by Company of
                           these covenants.

                  (d)      Employee acknowledges and confirms that the
                           restrictions contained herein are fair and reasonable
                           and not the result of overreaching, duress, or
                           coercion of any kind.

         F.       Employee agrees to return to Employer in Boca Raton, Florida,
                  on the Termination Date or within 14 business days, all of
                  Employer's property, including computer and office equipment,
                  office keys, phone card, security access card, American
                  Express or other Employer issued or sponsored credit card,
                  parking pass, supplies, customer and work files and other
                  related materials.

         G.       Employee agrees not to disclose the contents of this Agreement
                  to anyone except Employee's immediate family or attorneys, if
                  any, provided they agree to this confidentiality clause.

         H.       Employee agrees that Employee will be responsible for
                  Employee's own attorneys' fees incurred in connection with the
                  negotiation, preparation and execution of this Agreement and
                  that Employee unconditionally releases and discharges Employer
                  from any claim for such attorneys' fees incurred by Employee
                  or on Employee's behalf.

         I.       The parties agree and acknowledge to each other that this
                  Agreement does not constitute an admission by either party of
                  any violation of any federal, state, or local statue or
                  regulation, or any violation of any of Employee's rights or of
                  any duty owed by either party to each other.

         J.       Employee warrants that he has surrendered to the Company, in,
                  all material records (and copies thereof) pertaining to
                  Company's business operations and related to any work
                  performed for Company, all material Company property, and any
                  and all third party property, including all confidential
                  and/or proprietary information, drawings, computer programs or
                  copies thereof, documentation, notebooks and notes, reports
                  and any other materials on electronic or printed media.
                  Included are any documents or media containing the names,
                  addresses, and other information with regard to customers or
                  potential customers of the Company, business alliance partners
                  or Daleen Solutions Partners which have been served by the
                  Employee.

         K.       Employee and Company agree that each will refrain from making
                  any written or oral statement or taking any action, directly
                  or through others, which either knows or reasonably should
                  know to be disparaging or negative concerning the each other
                  or their respective officers, directors, employees, attorneys
                  or agents.

         L.       It is recognized and acknowledged that a breach by the
                  Employee or the Company of

                                       3
<PAGE>

                  any of the covenants in Section 2 of this Agreement will cause
                  irreparable harm and damage to the other party, the monetary
                  amount of which may be virtually impossible to ascertain. As a
                  result, each recognizes and acknowledges that the other party
                  shall be entitled to, in addition to any other remedies
                  available to the other party, an injunction from any court of
                  competent jurisdiction enjoining and restraining any violation
                  of any or all of the covenants contained in Section 2 of this
                  Agreement by Employee or Company and such right to an
                  injunction shall be cumulative and in addition to whatever
                  other remedies the Company or the Employee (as the case may
                  be) may possess.

         M.       Employee agrees and acknowledges that Employee will be
                  responsible for payment of any outstanding balance on
                  Employee's company-issued or company-guaranteed American
                  Express account related to personal expenses of the Employee
                  or Company expenses for which Employee has been reimbursed
                  ("EMPLOYEE RESPONSIBLE Expenses"). Employee agrees that
                  Company will be entitled to deduct from any payments due
                  Employee, including Employee's severance payments as provided
                  for in his Employment Agreement, all Employee Responsible
                  Expenses.

SECTION 3. INFORMED, VOLUNTARY SIGNATURE. Company has informed Employee that
they may consult counsel before executing this Agreement. Employee agrees that
he has had a full and fair opportunity to review this Agreement with counsel and
signs it knowingly, voluntarily, and without duress or coercion. Further, in
executing this Agreement, Employee agrees that he has not relied on any
representation or statement not set forth in this Agreement.

SECTION 4. NO ADMISSION. The parties agree that this Agreement does not
constitute any admission by Employee or by Company or any of its officers,
directors, employees, agents, and representatives, and their successors in
interest of any (i) violation of any statute, law, regulation, order, or other
applicable authority, (ii) breach of contract, actual or implied, or (iii)
commission of any tort.

SECTION 5. MISCELLANEOUS.

         A.       Any material breach of this Agreement by Employee will result
                  in Company not being required to comply with its obligations
                  under this Agreement. Any material breach by the Company of
                  this Agreement or its failure to provide timely severance
                  benefits pursuant to the Employment Agreement will result in
                  the Employee not being required to comply with his obligations
                  and covenants under any agreement between him and the Company
                  including this Agreement and the Employment Agreement,
                  including all provisions which provide for survival subsequent
                  to termination.

         B.       This Agreement shall be interpreted and enforced in accordance
                  with the laws of the State of Florida. Each of the parties
                  submits to the jurisdiction of any state or federal court
                  sitting in Palm Beach County, Florida, in any action or
                  proceeding arising out of or relating to this Agreement and
                  agrees that all claims in respect of the action or proceeding
                  may be heard and determined by any such court. Each party also
                  agrees not to bring any action or proceeding arising out of or
                  relating to this Agreement in any other court. In addition,
                  the parties agree to waive any rights to a jury trial should
                  any dispute arise under this Agreement or related in any way
                  to Employee's employment with Company.

         C.       This Agreement represents the sole and entire agreement
                  between the parties and

                                       4
<PAGE>

                  supersedes any and all prior agreements, negotiations, and
                  discussions between the parties or their respective counsel
                  with respect to the subject matters covered herein.

         D.       If either party initiates proceedings for the other's breach
                  of this Agreement, the prevailing party shall recover
                  attorneys' fees and costs, including such fees and costs on
                  any enforcement or appeal proceedings.

         E.       If one or more paragraphs of this Agreement are ruled invalid
                  or unenforceable, such invalidity or unenforceability shall
                  not affect any other provision of the Agreement, which shall
                  remain in full force and effect.

         F.       This Agreement may be modified only by a writing signed by
                  both parties.

         G.       Both parties agree that, unless required by law or by a court
                  of competent jurisdiction, this Agreement shall remain
                  confidential and will not be used for any purpose other than
                  enforcing its specific terms in any proceeding between the
                  parties. If this document must be filed in any court
                  proceeding, the person seeking to file it will do so only
                  under seal, unless expressly prohibited by the court.

         H.       This Agreement may be executed in two counterparts, each of
                  which shall constitute an original, but all of which together
                  shall constitute one and the same document.

IN WITNESS WHEREOF, Employee and Company have agreed upon and executed this
Agreement as of the date first set forth above.

EMPLOYEE:                                  DALEEN TECHNOLOGIES, INC.:

/s/ David B. Corey     January 9, 2002     By: /s/ James Daleen
--------------------------------------         ---------------------------------
Signature of Employee      Date            Title: Chief Executive Officer
                                            Date: January 9, 2002

                                       5

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