Document:

<PAGE>
                                                                    EXHIBIT 10.3

                             SHARE PLEDGE AGREEMENT

THIS SHARE PLEDGE AGREEMENT (this "Agreement") is entered into as of the 1st day
of December, 2001 by and between Internet Capital Group Operations, Inc.
("ICGO") and ________ (the "Pledgor").

RECITALS:

A.      Pledgor has executed and delivered the following promissory note(s)
        (collectively, the "Promissory Notes") to ICGO:

<TABLE>
<CAPTION>
        Type of Loan                                 Original Principal Amount
        <S>                                          <C>
        Promissory Note (Option Loan)                $
                                                      ----------------
        Promissory Note (Tax Loan)                   $
                                                      ----------------
        Promissory Note (Tax Loan)                   $
                                                      ----------------
</TABLE>

        The obligations of Pledgor pursuant to the Promissory Notes are referred
        to herein collectively as the "Obligations."

B.      As security for the fulfilment of the Obligations, the Pledgor has
        agreed to grant a continuing security interest in and pledge and assign
        certain shares of Internet Capital Group, Inc., a Delaware corporation
        (the "Corporation"), held by the Pledgor in favor of ICGO.

NOW, THEREFORE, intending to be legally bound hereby and for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereby agree as follows:

1.      PLEDGE

As security for the due and timely payment and performance by the Pledgor of the
Obligations, the Pledgor hereby assigns, pledges and grants a continuing
security interest in all of his right, title and interest in and to such number
of shares in the capital of the Corporation held by the Pledgor as is determined
under Section 2 of this Agreement and any substitutions therefore and proceeds
thereof (the "Pledged Shares") to and in favor of ICGO. The Pledgor has
deposited with Merrill Lynch the Pledged Shares in a custodial account
administered by ICGO together with the appropriate transfer and other documents
to enable ICGO or its nominee to be registered as the owner thereof and to
transfer or sell the Pledged Shares upon any enforcement thereof. If the Pledgor
acquires any certificates evidencing shares required to be included as Pledged
Shares after the date hereof, the Pledgor shall, forthwith upon receipt of such
certificates, deliver such certificates to ICGO together with the appropriate
transfer and other documents to enable ICGO or its nominee to be registered as
the owner thereof and to transfer or sell or cause to be

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                                      -2-

transferred or sold such Pledged Shares upon any enforcement thereof. All rights
of ICGO and the security interest hereunder and all obligations of the Pledgor
hereunder shall be absolute and unconditional, irrespective of: (a) any lack of
validity or enforceability of the Promissory Notes, (b) any change in the time
or manner of payment of the Obligations or any amendment to the Promissory
Notes, (c) any other circumstance that might constitute a defence available to,
or a discharge of, the Pledgor.

2.      CALCULATION OF THE NUMBER OF PLEDGED SHARES

The number of Pledged Shares subject to this Agreement shall be calculated from
time to time using the following formula, and shall be adjusted to take into
account any stock dividends, stock splits, combinations or recapitalizations:

<TABLE>
                 <S>                           <C>
                    CNRPB
                 -----------   X    OPS        = Pledged Shares
                    ONRPB
</TABLE>

Where           CNRPB = Current Nonrecourse Principal Balance of the Obligations
as determined under the Promissory Notes,

                ONRPB = Original Nonrecourse Principal Balance of the
Obligations as determined under the Promissory Notes, and

                OPS = Original Pledged Shares which number is ________.

In the event that the Nonrecourse Principal Balance of the Obligations is
reduced during the term of this Agreement, promptly after such payment is made,
ICGO shall take such steps as are reasonably necessary to reduce the number of
Pledged Shares to such number of shares as results from applying the foregoing
calculation immediately following such payment. In the event that the
Nonrecourse Principal Balance of the Obligations is increased during the term of
this Agreement, promptly after such increase occurs, Pledgor shall take such
steps as are reasonably necessary to increase the number of Pledged Shares to
such number of shares as results from applying the foregoing calculation
immediately after such increase in the amount of the Obligations.

3.      PROVISIONS RELATING TO THE PLEDGED SHARES

Until the making of a demand on the Pledgor under the Obligations by ICGO, the
Pledgor shall be entitled to exercise all voting rights in respect of the
Pledged Shares and the Pledgor shall be entitled to receive and deal with any
and all dividends at any time payable on or with respect to the Pledged Shares.
Following the making of a demand on the Pledgor under the Obligations by ICGO,
all rights of the Pledgor pursuant to the preceding sentence shall cease and
ICGO may enforce any and all of the rights of the Pledgor with respect to the
Pledged Shares.

4.      REPRESENTATIONS AND WARRANTIES

The Pledgor hereby represents and warrants to ICGO that he is the registered and
beneficial owner of the Pledged Shares free and clear of all liens and
encumbrances of any kind other than

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                                      -3-

the security interests created by this Agreement, and has not assigned,
transferred, set over or granted a security interest or any other interest or
options in the Pledged Shares to any other person.

5.      COVENANTS

The Pledgor shall take any and all necessary steps to preserve and defend the
Pledgor's and ICGO's right, title and security interest in and to all the
Pledged Shares against the claims and demands of all persons whomsoever and the
Pledgor will have good title to any other shares or assets that become Pledged
Shares hereunder and the Pledgor shall not assign, transfer, set over or grant a
security interest in or in any other manner further encumber the Pledged Shares.

6.      REMEDIES

Upon the making of a demand on the Pledgor under the Obligations by ICGO, the
security interests created hereby shall immediately become enforceable and ICGO
may, forthwith or at any time thereafter, take any action, suit, remedy or
proceeding authorized or permitted by agreement of the parties or by law or in
equity.

7.      RIGHTS AND REMEDIES CUMULATIVE

The rights and remedies of ICGO shall be cumulative and not in substitution for
any rights or remedies to which ICGO may be entitled under the Obligations or
which may be available at law or in equity and may be exercised whether or not
ICGO has pursued or is then pursuing any other such rights or remedies.

8.      ACKNOWLEDGEMENTS

The Pledgor hereby acknowledges:

        (a)     receipt of a copy of this Agreement;

        (b)     that value has been given;

        (c)     that the security interests created hereby attached to the
                Pledged Shares immediately upon execution and delivery of this
                Agreement to ICGO and the parties have not agreed to postpone
                the time of attachment of the pledge of the Pledged Shares by
                the Pledgor; and

        (d)     that the pledge created hereby or to be created shall be and be
                deemed to be effective whether the Obligations hereby secured or
                any part thereof shall be advanced before, upon or after the
                date of execution of this Agreement.

9.      EFFECTIVE DATE

<PAGE>
                                      -4-

This Agreement shall become effective as of the date first written above. This
Agreement and the security interests created hereunder are in addition to and
not in substitution for any other security granted by the Pledgor to ICGO,
whether before or after the execution of this Agreement. The security interest
shall be a general and continuing security interest and shall continue in full
force and effect until terminated as provided herein.

10.     TERMINATION

This Agreement shall terminate upon the earlier of (a) written agreement made
between the Pledgor and ICGO to terminate this Agreement and (b) the payment in
full of all of the Obligations.

11.     POWER OF ATTORNEY

The Pledgor hereby irrevocably constitutes and appoints ICGO and any one of its
directors and officers holding office from time to time as the true and lawful
attorney of the Pledgor with power of substitution in the name of the Pledgor to
do any and all such acts and things or execute and deliver all such agreements,
documents and instruments as ICGO in its sole discretion, considers necessary or
desirable to carry out the provisions and purposes of this Agreement or to
exercise its rights and remedies hereunder. The Pledgor hereby ratifies and
agrees to ratify all acts of any such attorney taken or done in accordance with
this paragraph. This power of attorney being coupled with an interest shall not
be revoked or terminated by any act or thing and shall remain in full force and
effect until this Agreement has been terminated.

12.     NOTICE

Any demand, notice or communication made or given hereunder shall be in writing
and shall be personally delivered or given by transmittal by telecopy or
facsimile transmission addressed to the respective parties at its address or
telecopy or facsimile number set forth below or to such other address or
telecopy or facsimile number as such party may designate by notice in writing to
the other party hereto:

        (a)     if to ICGO, at:

                      Internet Capital Group Operations, Inc.
                      435 Devon Park Drive, Building 600
                      Wayne, PA 19087

                      Facsimile:    (610) 989-0112

        (b)     if to Pledgor, at:

                      Internet Capital Group Operations, Inc.
                      435 Devon Park Drive, Building 600
                      Wayne, PA 19087

                Facsimile:    (610) 989-0112

<PAGE>
                                      -5-

13.     FURTHER ASSURANCES

The Pledgor will, from time to time at the request of ICGO, make and do all such
acts and things and execute and deliver all such instruments, agreements and
documents as ICGO shall reasonably request by notice in writing given to the
Pledgor in order to create, preserve, perfect, validate or otherwise protect the
security interests created hereunder, to enable ICGO to exercise and enforce any
of its rights and remedies hereunder and generally to carry out the provisions
and intentions of this Agreement.

14.     GOVERNING LAW

This Agreement shall be construed in accordance with the laws of the state of
Delaware.

15.     AMENDMENTS; NO IMPLIED WAIVERS; SEVERABILITY

Any change, amendment, modification, cancellation or discharge of this Agreement
or any term or provision hereof shall be in writing and signed by Pledgor and
ICGO. No course of dealing and no failure or delay on the part of ICGO in
exercising any right, remedy, power or privilege hereunder shall operate as a
waiver thereof. The provisions of this Agreement are intended to be severable.
If any provision of this Agreement shall be held invalid or unenforceable in
whole or in part, such provision shall be ineffective to the extent of such
invalidity or unenforceability without in any manner affecting the validity or
enforceability thereof.

16.     SUCCESSORS AND ASSIGNS

The rights and privileges of this Agreement shall inure to the parties'
successors and assigns as such are permitted hereunder. This Agreement shall be
assignable and transferable by ICGO; however, the duties and obligations of
Pledgor may not be assigned or transferred by Pledgor.

17.     COUNTERPARTS

This Agreement may be executed in counterparts, each of which, when so executed
and delivered, shall be deemed an original.

18.     ENTIRE AGREEMENT

This Agreement, together with the Promissory Notes, constitutes the entire
understanding between Pledgor and ICGO with respect to the subject matter of
this Agreement supersedes all other agreements, whether written or oral, with
respect to the subject matter of this Agreement.

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                                      -6-

IN WITNESS OF WHICH this Agreement has been duly executed as of the date first
written above.

                                    INTERNET CAPITAL GROUP OPERATIONS, INC.

                                    By:
                                           -------------------------------------
                                    Name:
                                    Title

                                    PLEDGOR:

                                    --------------------------------------------
                                    Name:<PAGE>
                                                                    EXHIBIT 10.4

                                 PROMISSORY NOTE
                                   (TAX LOAN)

$________________                                               December 1, 2001

        WHEREAS, _________ ("Borrower") and Internet Capital Group, Inc.
("ICG"), a Delaware corporation, previously entered into a Promissory Note,
dated ________________ (the "Prior Note") in the amount of $________________
("Original Principal Amount"); and

        WHEREAS, ICG assigned its interest in the Prior Note to ICG Holdings,
Inc. ("Holdings"), a Delaware corporation, on December 29, 1999 pursuant to the
Contribution Agreement between ICG and Holdings, and

        WHEREAS, Internet Capital Group Operations, Inc. ("Holder"), a Delaware
corporation, acquired the Prior Note from Holdings on November 30, 2001, and

        WHEREAS, Borrower and Holder have agreed to modify certain terms and
conditions relating to the loan memorialized in the Prior Note, and therefore
have agreed, as of December 1, 2001, to cancel the Prior Note and to enter into
a successor promissory note on the terms and conditions set forth below:

        NOW, THEREFORE, intending to be legally bound hereby, Borrower and
Holder agree as follow,

        1.      The Prior Note is hereby deemed to be of no further force and
effect; and

        2.      FOR VALUE RECEIVED, Borrower, hereby promises to pay to the
order of Holder the principal sum $________________ (the "Principal Amount" as
adjusted from time to time in accordance with the terms hereof), on December 1,
2006 (the "Term Date") and interest accrued and capitalized as of the date
hereof in the amount of $________________, together with interest accrued
thereon through the date of payment; provided, however, (i) upon the sale, by
the undersigned, of less than all the shares of Common Stock, par value $0.001
per share, of Holder (the "Common Stock") purchased by the undersigned on May 5,
1999, the undersigned shall be required to make a principal payment, together
with interest accrued thereon, equal to (x) multiplied by (y) where (x) is the
Principal Amount and (y) is (A) the number of shares of Common Stock sold by the
undersigned divided by (B) the total number of shares of Common Stock which were
purchased by the undersigned on May 5, 1999 as appropriately adjusted for stock
splits, stock dividends or other stock distributions, (ii) upon the sale, by the
undersigned, of all the shares of Common Stock which were purchased by the
undersigned on May 5, 1999 as appropriately adjusted for stock splits, stock
dividends or other stock distributions, (iii) within the earlier of (a) 3 years
after termination of the Borrower's employment with the Holder or its affiliates
for any reason or (b) the Term Date, or (iv) upon a good faith determination by
the Board of Directors of the Holder that the Borrower has violated one or more
of the terms or conditions of the Restrictive Covenant Agreement between ICG and
the Borrower, a copy of which is attached hereto as Exhibit A, the Principal
Amount (or, with respect to circumstances

<PAGE>

described in subparagraph (i), that portion of the Principal Amount determined
to be payable) together with interest accrued thereon, shall become due and
payable, and the undersigned shall pay such Principal Amount, together with
interest accrued thereon, to the Holder. Partial payments shall be allocated
proportionately between the original Principal Amount and accrued interest
previously added to the Principal Amount.

        The Borrower shall pay to the Holder hereof interest from the date
hereof on the outstanding principal balance hereunder at the rate of three point
nine seven percent (3.97%) per annum. Interest shall be calculated on the basis
of a 365-day year for the actual number of days elapsed and shall be payable on
the last day of each Yearly Period (as hereinafter defined) during the term
hereof. To the extent that interest for any Yearly Period or portion thereof is
not paid on the last day of such Yearly Period, such interest shall become part
of the Principal Amount effective such last day of such Yearly Period. As used
herein, the term "Yearly Period" means each successive twelve-month period,
beginning on the date hereof and ending on the first anniversary of the date
hereof and continuing to each successive anniversary thereafter, during which
the Principal Amount remains outstanding.

        Payment shall be made at such place as the Holder may designate. All
payments hereunder shall be made in immediately available funds in lawful money
of the United States of America.

        This Promissory Note represents an obligation of the Borrower only to
the extent of the Pledged Shares (as defined in the Share Pledge Agreement of
even date herewith, a copy of which is attached hereto as Exhibit B); the
Borrower shall have no personal liability with respect to this Promissory Note.

        All or any portion of the Principal Amount evidenced by this Promissory
Note may be prepaid at any time without premium or penalty.

        The Borrower hereby acknowledges that, as a condition of receipt of the
value provided by the Holder referenced above and in partial consideration
therefore, the Borrower (a) on the date of execution of the Prior Note, executed
a Restrictive Covenant Agreement between ICG and the Borrower, a copy of which
is attached hereto as Exhibit A, and (b) on the date hereof, in view of the
consideration provided in connection with the cancellation of the Prior Note and
the issuance of this Promissory Note, agrees that Borrower continues to be bound
by the terms and conditions of such Restrictive Covenant Agreement.

        The Borrower hereby waives presentment, notice of dishonor and protest
in respect hereof.

        In the event of default under this Promissory Note, the Holder shall
have all rights and remedies provided at law and in equity; provided, however,
that with respect to a default, Holder's sole remedy shall be to take ownership
of the Pledged Shares. In the event that Holder takes ownership of the Pledged
Shares, this Promissory Note shall be deemed to be fully satisfied. Subject to
the prior portions of this paragraph, all costs and expenses of collection,
including attorneys' fees, shall be added to and become part of the Principal
Amount of this Promissory Note and shall be collectible as part of such
Principal Amount.

                                       2
<PAGE>

        No interest or other amount shall be payable in excess of the maximum
permissible rate under applicable law and any interest or other amount which is
paid in excess of such maximum rate shall be deemed to be a payment of principal
hereunder.

        This Promissory Note may not be changed, modified or terminated orally,
but only by an agreement in writing signed by the party sought to be charged.

        This Promissory Note shall be governed by, and construed in accordance
with, the laws of the State of Delaware, without giving effect to the principles
of conflict of laws thereof. If any term or provision of the Promissory Note
shall be held invalid, illegal or unenforceable, the validity of all other terms
and provisions hereof shall in no way be affected thereby.

        This Promissory Note shall be binding upon the successors and assigns of
the Borrower and shall inure to the benefit of the Holder and its successors and
assigns.

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

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

                                   for Internet Capital Group Operations, Inc.

                                       3

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