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                                                                    EXHIBIT 10.1

                              DOVER SADDLERY, INC.
                             1999 STOCK OPTION PLAN

1. PURPOSE

This Dover Saddlery, Inc. 1999 Stock Option Plan (the "Plan") is intended to
further the growth and financial success of Dover Saddlery, Inc. (the
"Corporation") by enabling the Corporation to provide additional incentives to
selected key employees and certain directors of the Corporation so that such
participants may acquire or increase their proprietary interest in the
Corporation. The term "Corporation" shall include any parent corporation or
subsidiary corporation of the Corporation as those terms are defined in Section
424(e) and (f) of the Internal Revenue Code of 1986, as amended (the "Code").
Stock options granted under the Plan ("Options") may be either "Incentive Stock
Options" (as defined in Code section 422 and any regulations promulgated under
that Section) or "Nonstatutory Options" (a stock option not designated as an
Incentive Stock Option) at the discretion of the Board of Directors of the
Corporation (the "Board") and as reflected in the respective written stock
option agreements granted pursuant to this Plan.

2. ADMINISTRATION

The Plan shall be administered by the Board; provided however, that the Board
may delegate such administration to a committee of not fewer than two members
(the "Committee"), each of whom is a member of the Board and all of whom are
disinterested persons, as contemplated by Rule 16b-3 ("Rule 16b-3") promulgated
under the Securities Exchange Act of 1934, as amended ("Exchange Act"). The
foregoing requirement for disinterested administration shall not apply prior to
the date of the first registration of any of the securities of the Corporation
under the Securities Act of 1933, as amended ("Securities Act").

Subject to the provisions of the Plan, the Board and/or the Committee shall have
authority to (a) grant, in its discretion, Incentive Stock Options in accordance
with Code section 422 or Nonstatutory Options; (b) determine in good faith the
fair market value of the stock covered by an Option; ( c) determine which
eligible persons shall be granted Options, the number of shares to be covered by
the Options and the restrictions, terms and conditions thereof; (d) construe and
interpret the Plan; ( e) promulgate, amend and rescind rules and regulations
relating to its administration, and correct defects, omissions and
inconsistencies in the Plan or any Option; (f) consistent with the Plan and with
the consent of the optionee, as appropriate, amend any outstanding Option or
amend the exercise date or dates; (g) determine the duration and purpose of
leaves of absence which may be granted to optionees without constituting
termination of their employment for the purpose of the Plan; and (h) make all
other determinations necessary or advisable for the Plan's administration. The
interpretation and construction by the Board of any provisions of the Plan or of
any Option shall be conclusive and final. No member of the Board or the
Committee shall be liable for any action or determination made in good faith
with respect to the Plan or any Option.

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3. ELIGIBILITY

The persons who shall be eligible to receive Options shall be employees and
directors of the Corporation, provided that persons who are shareholders at the
time of adoption of this Plan shall be eligible to receive Options only as
employees and not as directors (eligible persons granted Options hereunder shall
be referred to as "Optionees").

      (a) Incentive Stock Options. Incentive Stock Options may only be issued to
      employees of the Corporation. Incentive Stock Options may be granted to
      officers or directors, provided they are also employees of the
      Corporation. Payment of a director's fee shall not be . sufficient to
      constitute employment by the Corporation. Any grant of option to an
      officer or director of the Corporation subsequent to the first
      registration of any of the securities of the Corporation under the
      Securities Act, requirements of Rule 16b-3. An optionee may hold more
      than one Option.

      The Corporation shall not grant an Incentive Stock Option under the Plan
      to any employee if the grant would result in the employee holding the
      right to exercise for the first time in anyone calendar year, under all
      Incentive Stock Options granted under the Plan or any other plan
      maintained by the Corporation, options with respect to shares of stock
      having an aggregate fair market value, determined as of the date of the
      Option is granted, in excess of One Hundred Thousand Dollars ($100,000).
      Should it be determined that an Incentive Stock Option granted under the
      Plan exceeds such maximum for any reason other than a failure in good
      faith to value the stock subject to such Option, the excess portion of the
      Option shall be considered a Nonstatutory Option. To the extent the
      employee holds two or more such Options which become exercisable for the
      first time in the same calendar year, the foregoing limitation on the
      exercisability of such Option as Incentive Stock Options under the Federal
      tax: laws shall be applied on the basis of the order in which the Options
      are granted. If, for any reason, an entire option does not qualify as an
      Incentive Stock Option by reason of exceeding such maximum, that option
      shall be considered a Nonstatutory Option.

      (b) Nonstatutory Options. The provisions of Section 3(a) shall not apply
      to any Option designated as a Nonstatutory Stock Option or which sets
      forth the intention of the parties that the option be a Nonstatutory
      Option.

4. STOCK

The stock subject to Options shall be shares of the Corporation's authorized but
unissued or reacquired Class A Common Stock (the "Stock").

      (a) Number of Shares. Subject to adjustment as provided in Paragraph 5(i)
      of this Plan, the total number of shares of Stock which may be purchased
      through exercise of Options granted under this Plan shall not exceed three
      hundred ninety thousand (390,000) shares, of which three hundred fifty
      thousand (350,000) shares shall be allocated to Optionees who are
      employees (regardless of whether an employee is also a director) and forty
      thousand

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      (40,000) shares shall be allocated Optionees who are directors. If any
      Option shall for any reason terminate or expire, any shares allocated
      thereto but remaining unpurchased upon such expiration or termination
      shall again be available for the grant of Options with respect to that
      Option under the Plan as though no Option had been granted with respect to
      such shares. Any shares of Stock issued pursuant to an Option and
      repurchased pursuant to the terms of the Option shall be available for
      future Options as though not previously covered by an Option.

      (b) Reservation of Shares. The Corporation shall reserve and keep
      available at all times during the term of the Plan such number of shares
      as shall be sufficient to satisfy the requirements of the Plan. If, after
      reasonable efforts, which efforts shall not include the registration of
      the Plan or Options under the Securities Act, the Corporation is unable to
      obtain authority from any applicable regulatory body, which authorization
      is deemed necessary by legal counsel for the Corporation for the lawful
      issuance of shares hereunder, the Corporation shall be relieved of any
      liability with respect to its failure to issue and sell the shares for
      which such requisite authority was deemed necessary unless and until the
      authority is obtained.

      (c) Application of Funds. The proceeds received by the Corporation from
      the sale of Stock pursuant to the exercise of Options will be used for
      general corporate purposes.

      (d) No Obligation to Exercise Option. The granting of an Option shall
      impose no obligation upon the Optionee to exercise such Option.

      (e) Adjustment of Shares. In the event of any change in the outstanding
      Stock by reason of a stock split, stock dividend, combination, subdivision
      or reclassification of shares, recapitalization, merger, or similar event,
      the Board or the Committee shall adjust proportionately (a) the number of
      shares of Stock reserved under the Plan and available for Incentive Stock
      Options and Nonstatutory Options; and (b) the exercise prices related to
      outstanding Options. In the event of any other change affecting the Stock
      or any distribution (other than normal cash dividends) to holders of
      Stock, such adjustments as may be deemed equitable by the Board or the
      Committee, including adjustments to avoid fractional shares, shall be made
      to give proper effect to such event. In the event of a corporate merger,
      consolidation, acquisition of property or stock, separation,
      reorganization or liquidation, the Board or the Committee shall be
      authorized to issue or assume Options, whether or not in a transaction to
      which Code section 424(a) applies, by means of substitution of new Options
      for previously issued Options or an assumption of previously issued
      Options.

5. TERMS AND CONDITIONS OF OPTIONS

Options granted hereunder shall be evidenced by agreements between the
Corporation and the respective Optionees, in such form and substance as the
Board or Committee shall from time to time approve. Such agreements need not be
identical, and in each case may include such provisions and conditions as the
Board or Committee may determine, but all such agreements

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shall be subject to and limited by the following terms and conditions:

      (a) NUMBER OF SHARES. Each Option shall state the number of shares to
      which it pertains.

      (b) OPTION PRICE. Each Option shall state the exercise price, which shall
      be determined as follows:

            (i) Incentive Stock Options granted to a person who at the time the
            Option is granted owns (or is deemed to own pursuant to Code section
            424(d) stock possessing more than ten percent (10%) of the total
            combined voting power or value of all classes of stock of the
            Corporation, ("Ten Percent Holder") shall have an exercise price
            o{no less than one hundred ten percent (110%) of the fair market
            value of the common stock as of the date of grant; and

            (ii) Incentive Stock Options granted to a person who at the time the
            Option is granted is not a Ten Percent Holder shall have an exercise
            price of no less than one hundred percent (100%) of the fair market
            value of the common stock as of the date of grant.

            (iii) Nonstatutory Options shall have an exercise price of no less
            than one hundred percent (100%) of the fair market value of the
            common stock as of the date of grant.

      For the purposes of this Paragraph 5(b), the fair market value shall be as
      determined by the Board, in good faith, which determination shall be
      conclusive and binding; provided however, that if there is a public market
      for the Stock, the fair market value per share shall be the average of the
      bid and asked prices (or the closing price if the stock is listed on the
      NASDAQ National Market System or Small Cap Market) on the date of grant of
      the Option, or if listed on a stock exchange, the closing price on such
      exchange on the date of grant.

      (c) MEDIUM AND TIME OF PAYMENT. The Option exercise price shall become
      immediately due upon exercise of the Option and shall be paid in cash or
      check made payable to the Corporation. Should the Corporation's
      outstanding common stock be registered under Section 12(g) of the Exchange
      Act at the time the Option is exercised, then the exercise price may also
      be paid as follows:

            (i) in shares of Stock held by the Optionee for the requisite period
            necessary to avoid a charge to the Corporation's earnings for
            financial reporting purposes and valued at fair . market value on
            the exercise date, or

            (ii) through a special sale and remittance procedure pursuant to
            which the Optionee shall concurrently provide irrevocable written
            instructions (a) to a brokerage firm designated by the Corporation
            to effect the immediate sale of the purchased shares and remit to
            the Corporation, out of the sale proceeds available on the
            settlement date, sufficient funds to cover the aggregate exercise
            price payable for the purchased shares plus all applicable Federal,
            state and local income and employment taxes required to be withheld
            by the Corporation by reason of such purchase, and (b) to the
            Corporation to

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            deliver the certificates for the purchased shares directly to such
            brokerage firm in order to complete the sale transaction.

      At the discretion of the Board, which discretion is exercisable either at
      the time of Option grant or of Option exercise, the exercise price may
      also be paid (i) by Optionee's delivery of a promissory note in form and
      substance satisfactory to the Corporation and bearing interest at a rate
      determined by the Board in its sole discretion, but in no event less than
      the minimum rate of interest required to avoid the imputation of
      compensation income to the Optionee under the Federal tax laws, or (ii) in
      such other form of consideration permitted by applicable law and as may be
      acceptable to the Board.

      (d) TERM AND EXERCISE OF OPTIONS. Any Option granted to an Employee of the
      Corporation shall become exercisable over such period and on such terms
      and conditions as may be determined by the Board and specified in the
      Option agreements granted hereunder. No Option shall be exercisable, in
      whole or in part, prior to one (1) year from the date it is granted unless
      the Board shall specifically determine otherwise, as provided herein. In
      no event shall any Option be exercisable after the expiration often (10)
      years from the date it is granted, and no Incentive Stock Option granted
      to a Ten Percent Holder shall, by its terms, be exercisable after the
      expiration of five (5) years from the date the Incentive Stock Option is
      granted. Unless otherwise specified by the Board or the Committee in the
      resolution authorizing such Option, the date of grant of an Option shall
      be deemed to be the date upon which the Board or the Committee authorizes
      the granting of the Option, which date shall be reflected on the Option
      agreement.

      Each Option shall be exercisable to the nearest whole share, in
      installments or otherwise, as the respective Option agreements may
      provide. During the lifetime of an Optionee, the Option shall be
      exercisable only by the Optionee and shall not be assignable or
      transferable by the Optionee, and no other person shall acquire any rights
      therein. To the extent not exercised, installments (if more than one)
      shall accumulate, but shall be exercisable, in whole or in part, only
      during the period for exercise as stated in the Option agreement, whether
      or not other installments are then exercisable.

      (e) TERMINATION OF STATUS AS EMPLOYEE OR DIRECTOR. If Optionee's status as
      an employee shall terminate for any reason other than Optionee's
      disability or death, then Optionee (or if the Optionee shall die after
      such termination, but prior to exercise, Optionee's personal
      representative or the person entitled to succeed to the Option) shall have
      the right to exercise the portions of any of Optionee's Incentive Stock
      Options which were exercisable as of the date of such termination, in
      whole or in part, not less than thirty (30) days nor more than three (3)
      months after such termination (or, in the event of termination for "Cause"
      as that term is defined below or by the terms of the Option Agreement or
      the Optionee's employment agreement, the Option shall automatically
      terminate as of the termination of employment as to all shares covered by
      the Option).

      "Cause," when used in connection with the termination of an Optionee's
      employment, shall mean the termination of the Optionee's employment by the
      Corporation by reason of (i) the

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      conviction of the Optionee by a court of competent jurisdiction as to
      which no further appeal can be taken of a crime involving moral turpitude
      or a felony; (ii) the proven commission by the Optionee of an act of fraud
      upon the Corporation; (iii) the willful and proven misappropriation of any
      funds or property of the Corporation by the Optionee; or (iv) the willful,
      continued and unreasonable failure by the Optionee to perform the material
      duties assigned to him.

      With respect to Nonstatutory Options granted to employees or directors,
      the Board may specify in the Option agreement such period for exercise,
      not less than thirty (30) days nor more than three (3) months after the
      termination of employment or services as to shares covered by the Option,
      following termination of employment or services, as the Board deems
      reasonable and appropriate (except that in the case of termination for
      "Cause" or removal of a director pursuant to the Delaware Corporation Law,
      the Option shall automatically terminate). The Option may be exercised
      only with respect to installments that the Optionee could have exercised
      at the date of termination of employment or services. Nothing contained
      herein or in any Option granted pursuant hereto shall be construed to
      affect or restrict in any way the right of the Corporation to terminate
      the employment or services of an Optionee with or without cause.

      (f) DISABILITY OF OPTIONEE. If an Optionee is disabled (within the meaning
      of Code section 22(e)(3) at the time of termination (other than for
      Cause), the time period set forth in Paragraph See) shall be a period, as
      determined by the Board and set forth in the Option, of not less than six
      (6) months nor more than one (1) year.

      (g) DEATH OF OPTIONEE. If an Optionee dies while employed by or serving as
      a director of the Corporation, the portion of the Optionee's Option which
      was exercisable at the date of death may be exercised, in whole or in
      part, by the estate of the decedent or by a person succeeding to the right
      to exercise the Option at any time within (i) a period, as determined by
      the Board and set forth in the Option, of not less than one (1) month nor
      more than one (1) year after Optionee's death, which period shall not be
      more, in the case of a Nonstatutory Option, than the period for exercise
      following termination of employment or services, or (ii) during the
      remaining term of the Option, whichever is the lesser. The Option may be
      so exercised only with respect to installments exercisable at the time of
      Optionee's death and not previously exercised by the Optionee.

      (h) NONTRANSFERABILITY OF OPTION. No Option shall be transferable by the
      Optionee, except by will or by the laws of descent and distribution.

      (i) RECAPITALIZATION. Subject to any required action of shareholders, the
      number of shares covered by each outstanding Option, and the exercise
      price per share set forth in each Option, shall be proportionately
      adjusted for any increase or decrease in the number of issued shares of
      Stock resulting from a subdivision or consolidation of shares or the
      payment of a stock dividend, or any other increase or decrease in the
      number of such shares affected without receipt of consideration by the
      Corporation; provided, however, the conversion of any convertible
      securities of the Corporation shall not be deemed to have been

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      effected "without receipt of consideration" by the Corporation.

      In the event of a proposed dissolution or liquidation of the Corporation,
      a merger or consolidation in which the Corporation is not the surviving
      entity, or a sale of all or substantially all of the assets or capital
      stock of the Corporation (collectively, a "Reorganization"), unless
      otherwise provided by the Board, this Option shall terminate immediately
      prior to such date as is determined by the Board, which date shall be no
      later than the consummation of the Reorganization. In such event, if the
      entity which shall be the surviving entity does not tender to Optionee an
      offer, having no obligation to do so, to substitute for any unexercised
      Option a stock option or capital stock of the surviving entity, as
      applicable, which on an equitable basis shall provide the Optionee with
      substantially the same economic benefit as the unexercised Option, then
      the Board may grant to the Optionee, in its sole and absolute discretion
      and without obligation, the right for a period commencing thirty days
      prior to and ending immediately prior to the date determined by the Board
      pursuant hereto for termination of the Option or during the remaining term
      of the Option, whichever is the lesser, to exercise any unexpired Option
      or Options without regard to the installment provisions of Paragraph 5(d)
      of the Plan; provided, that any such right granted shall be granted to all
      Optionees not receiving an offer to receive substitute options on a
      consistent basis, and provided further, that any such exercise shall be
      subject to the consummation of the Reorganization.

      Subject to any required action of stockholders, if the Corporation shall
      be the surviving entity in any merger or consolidation, each outstanding
      Option thereafter shall pertain to and apply to the securities to which a
      holder of shares of Stock equal to the shares subject to the Option would
      have been entitled by reason of the merger or consolidation.

      To the extent that the foregoing adjustments relate to stock or securities
      of the Corporation, such adjustments shall be made by the Board, whose
      determination in that respect shall be final, binding and conclusive.
      Except as expressly provided in this Paragraph 5(i), the Optionee shall
      have no rights by reason of any subdivision or consolidation of shares of
      stock of any class or the payment of any stock dividend or any other
      increase or decrease in the number of shares of stock of any class, and
      the number or price of shares of Stock subject to any Option shall not be
      affected by, and no adjustment shall be made by reason of, any
      dissolution, liquidation, merger, consolidation or sale of assets or
      capital stock, or any issue by the Corporation of shares of stock of any
      class or securities convertible into shares. of stock of any class.

      The grant of an Option pursuant to the Plan shall not affect in any way
      the right or power of the Corporation to make any adjustments,
      reclassifications, reorganizations or changes in its capital or business
      structure or to merge, consolidate, dissolve, or liquidate or to sell or
      transfer all or any part of its business or assets.

      (j) RIGHTS AS A STOCKHOLDER. An Optionee shall have no rights as a
      stockholder with respect to any shares covered by an Option until the
      effective date of the issuance of the shares following exercise of this
      Option by Optionee. No adjustment shall be made for

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      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, except as expressly
      provided in Paragraph 5(i) of this Plan.

      (k) MODIFICATION, ACCELERATION, EXTENSION, AND RENEWAL OF OPTIONS. Subject
      to the terms and conditions and within the limitations of the Plan, the
      Board may modify an Option, or once an Option is exercisable, accelerate
      the rate at which it may be exercised, and may extend or renew outstanding
      Options granted under the Plan or accept the surrender of outstanding
      Options (to the extent not yet exercised) and authorize the granting of
      new Options in substitution for such Options, provided such action is
      permissible under Code section 424(h) and other applicable law.
      Notwithstanding the provisions of this Paragraph S(k), however, no
      modification of an Option shall, without the consent of the Optionee,
      alter to the Optionee's detriment or impair any rights or obligations
      under any Option theretofore granted under the Plan.

      (l) EXERCISE BEFORE EXERCISE DATE. At the discretion of the Board, the
      Option may, but need not, include a provision whereby the Optionee may
      elect to exercise all or any portion of the Option prior to the stated
      exercise date of the Option or any installment thereof Any shares so
      purchased prior to the stated exercise date shall be subject to repurchase
      by the Corporation upon termination of Optionee's employment as
      contemplated by Paragraphs S(n) of this Plan prior to the exercise date
      stated in the Option and such other restrictions and conditions as the
      Board or Committee may deem advisable.

      (m) OTHER PROVISIONS AND CONDITIONS. The Option agreements authorized
      under this Plan shall contain such other provisions, including, without
      limitation, conditions and restrictions upon the exercise of the Options,
      as the Board or the Committee shall deem advisable. Shares shall not be
      issued pursuant to the exercise of an Option, if the exercise of such
      Option or the issuance of shares thereunder would violate, in the opinion
      of legal counsel for the Corporation, the provisions of any applicable law
      or the rules or regulations of any applicable governmental or
      administrative agency or body, such as the Code, the Securities Act, the
      Exchange Act, applicable state securities laws, and the rules promulgated
      under the foregoing or the rules and regulations of any exchange upon
      which the shares of the Corporation are listed. Without limiting the
      generality of the foregoing, the exercise of each Option shall be subject
      to the condition that if at any time the Corporation shall determine that
      (i) the satisfaction of withholding tax or other similar liabilities, or
      (ii) the listing, registration or qualification of any shares covered by
      such exercise upon any securities exchange or under any state or federal
      law, or (iii) the consent or approval of any regulatory body, or (iv) the
      perfection of any exemption from any such withholding, listing,
      registration, qualification, consent or approval is necessary or desirable
      in connection with such exercise or the issuance of shares thereunder,
      then in any such event, such exercise shall not be effective unless the
      withholding, listing registration, qualification, consent, approval or
      exemption shall have been effected, obtained or perfected free of any
      conditions not acceptable to the Corporation.

      (n) REPURCHASE AGREEMENT. The Board may, in its discretion, require as a
      condition to

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      the grant of an Option under this Plan, that an Optionee execute an
      agreement with the Corporation, in form and substance satisfactory to the
      Board in its discretion ("Repurchase Agreement"), (i) restricting the
      Optionee's right to transfer shares purchased under the Option without
      first offering the shares to the Corporation or another stockholder of the
      Corporation upon the same terms and conditions as provided therein; (ii)
      providing that upon termination of Optionee's employment with the
      Corporation, for any reason, the Corporation (or another stockholder of
      the Corporation, as provided in the Repurchase Agreement) shall have the
      right at its discretion (or the discretion of such other shareholders) to
      purchase and/or redeem all such shares owned by the Optionee on the date
      of termination of his or her employment at a price equal to (A) the fair
      value of the shares as of such date of termination, or (B) if such
      repurchase right lapses at twenty percent (20%) of the number of shares
      per year, the original purchase price of such shares, and upon terms of
      payment permissible under applicable state securities laws; provided that
      in the case of Options or Stock Awards granted to officers, directors or
      affiliates of the Company, such repurchase provisions may be subject to
      additional or greater restrictions as determined by the Board or
      Committee.

      (o) INVESTMENT INTENT. Unless and until the issuance and sale of the
      shares subject to the Plan are registered under the Securities Act or
      shall be exempt pursuant to the rules promulgated thereunder, each Option
      under the Plan shall provide that the purchases of shares thereunder shall
      be for investment purposes and not with a view to, or for resale in
      connection with, any distribution thereof Further, unless the issuance and
      sale of the stock have been registered under the Securities Act, each
      Option shall provide that no shares shall be purchased upon the exercise
      of such Option unless and until (i) any then applicable requirements of
      state and federal laws and regulatory agencies shall have been fully
      complied with to the satisfaction of the Corporation and its counsel, and
      (ii) if requested to do so by the Corporation, the person exercising the
      Option shall (i) give written assurances as to knowledge and experience of
      such person (or a representative employed by such person) in financial and
      business matters and the ability of such person (or representative) to
      evaluate the merits and risks of exercising the Option, and (ii) execute
      and deliver to the Corporation a letter of investment intent and/or such
      other form related to applicable exemptions from registration, all in such
      form and substance as the Corporation may require. If shares are issued
      upon exercise of an Option without registration under the Securities Act,
      subsequent registration of the shares shall relieve the purchaser of any
      investment restrictions or representations made upon the exercise of such
      Options.

      (p) TAX WITHHOLDING. The Company shall have the right to deduct applicable
      taxes from any Option payment and withhold, at the time of delivery or
      exercise of Options or vesting of shares under such Options, an
      appropriate number of shares for payment of taxes required by law or to
      take such other action as may be necessary in the opinion of the Company
      to satisfy all obligations for withholding of such taxes. If Stock is used
      to satisfy tax withholding, the Stock shall be valued based on the fair
      market value of the Stock when the tax withholding is required to be made.

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6. AMENDMENT AND TERMINATION OF PLAN

The Board may, insofar as permitted by law, from time to time, with respect to
any shares at the time not subject to Options, suspend or terminate the Plan or
revise or amend it in any respect whatsoever, except that without the approval
of the shareholders of the Corporation, no such revision or amendment shall (i)
increase the number of shares subject to the Plan, (ii) decrease the price at
which Options may be granted, (ill) materially increase the benefits to
Optionees, or (iv) change the class of persons eligible to receive Options under
the Plan; provided, however, no such action shall alter or impair the rights and
obligations under any Option outstanding as of the date thereof without the
written consent of the Optionee thereunder. No Option may be granted while the
Plan is suspended or after it is terminated, but the rights and obligations
under any Option granted while the Plan is in effect shall not be impaired by
suspension or termination of the Plan.

7. AVAILABILITY OF INFORMATION

During the term of the Plan and any additional period during which an Option
granted pursuant to the Plan shall be exercisable, the Corporation shall make
available, not later than one hundred twenty (120) days following the close of
each of its fiscal years, such financial and other information regarding the
Corporation as is required by the bylaws of the Corporation and applicable law
to be furnished in an annual report to the stockholders of the Corporation.

8. NOTICES

All notices, requests, demands, and other communications pursuant to this Plan
shall be in writing and shall be deemed to have been duly given on the date of
service if served personally on the party to whom notice is to be given, or on
the third day following mailing to the party to whom notice is to be given, by
first class mail, registered or certified, postage prepaid.

9. INDEMNIFICATION OF BOARD

In addition to such other rights or indemnifications as they may have as
directors or otherwise, and to the extent allowed by applicable law, the members
of the Board and the Committee shall be indemnified by the Corporation against
the reasonable expenses, including attorney fees, actually and necessarily
incurred in connection with the defense of any claim, action, suit or
proceeding, or in connection with any appeal thereof, to which they or any of
them may be a party by reason of any action taken, or failure to act, under or
in connection with the Plan or any Option granted under the Plan, and against
all amounts paid by them in settlement thereof (provided the settlement is
approved by independent legal counsel selected by the Corporation) or paid by
them in satisfaction of a judgment in any such claim, action, suit or
proceeding; except in any case in relation to matters as to which it shall be
adjudged in such claim, action, suit or proceeding that the Board or Committee
member is liable for negligence or misconduct in the performance of his or her
duties; provided that within ten (10) days after institution of any such action,
suit or Board proceeding the member involved shall offer the Corporation, in
writing, the opportunity, at its own expense, to handle and defend the same.

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10. GOVERNING LAW

The Plan and all determinations made and actions taken pursuant to it, to the
extent not otherwise governed by the Code or the securities laws of the United
States, shall be governed by the law of the State of Delaware and construed
accordingly.

11. EFFECTIVENESS OF PLAN; EXPIRATION

Subject to approval of the Plan by the shareholders of the Corporation prior to
twelve (12) months following the date of adoption hereof by the Board, this Plan
shall be deemed effective as of the date it is adopted by the Board. The Plan
shall expire on, and no options shall be granted hereunder, the tenth
anniversary of such effective date, subject to earlier termination by the Board
pursuant to Section 6, but such expiration shall not affect the validity of
outstanding Options.

The foregoing 1999 Stock Option Plan was duly adopted and approved by the Board
of Directors on April 22, 1999 and approved by the shareholders of the
Corporation effective April 22, 1999.

                                    Secretary

                                  Page 11 of 11<PAGE>

                                                                    EXHIBIT 10.2

                              DOVER SADDLERY, INC.
                        INCENTIVE STOCK OPTION AGREEMENT

      This Incentive Stock Option Agreement ("Agreement") is made and entered
into as of the date set forth in Section l(a) below, by and between Dover
Saddlery, Inc., a Delaware corporation (the "Corporation"), and the employee of
the Corporation named in Section 1 (b) ("Optionee").

      In consideration of the covenants set forth in this Agreement, the parties
agree as follows:

1.    OPTION INFORMATION

      (a) Date of Option:

      (b) Optionee:

      (c) Number of Shares:

      (d) Exercise Price:

   2. ACKNOWLEDGMENTS

      (a) Optionee is an employee of the Corporation.

      (b) The Board of Directors (the "Board," which term shall include an
      authorized committee of the Board of Directors) and shareholders of the
      Corporation have heretofore adopted a 1999 Stock Option Plan (the "Plan"),
      pursuant to which this Option is being granted.

      (c) The Board has authorized the granting to Optionee of an Incentive
      Stock Option ("Option") as defined in Section 422 of the Internal Revenue
      Code of 1986, as amended, (the "Code") to purchase shares of Class A
      Common Stock of the Corporation ("Stock") upon the terms and conditions
      hereinafter stated and pursuant to an exemption from registration under
      the Securities Act of 1933, as amended (the "Securities Act"), provided by
      Rule 701 thereunder.

   3. SHARES; PRICE

      The Corporation hereby grants to Optionee the right to purchase, upon and
      subject to the terms and conditions herein stated, the number of shares of
      Stock set forth in Section 1 ( c) above (the "Shares") for cash (or other
      consideration as is authorized under the Plan and acceptable to the Board,
      in their sole and absolute discretion) at the price per Share set forth in
      Section led) above (the "Exercise Price"), such price being not less than
      the fair market value per share of the Shares covered by this Option as of
      the date of this Option as set forth

                                   Page 1 of 8

<PAGE>

      in Section l(a) above (unless Optionee is the owner of Stock possessing
      more than ten percent (10%) of the total voting power or value of all
      outstanding Stock of the Corporation ("Ten Percent Holder"), in which case
      the Exercise Price shall be not less than one hundred ten percent (110%)
      of the fair market value of such Stock).

   4. TERM OF OPTION; CONTINUATION OF EMPLOYMENT

      This Option shall expire, and all rights hereunder to purchase the Shares
      shall terminate, ten (10) years from the date hereof. This Option shall
      earlier terminate subject to Sections 7 and 8 of this Agreement upon, and
      as of the date of, the termination of Optionee's employment if such
      termination occurs prior to the end of the ten (10) year period beginning
      with the date hereof. Nothing contained in this Agreement shall confer
      upon Optionee the right to the continuation of his or her employment by
      the Corporation or to interfere with the right of the Corporation to
      terminate such employment or to increase or decrease the compensation of
      Optionee from the rate in existence at the date hereof.

   5. VESTING OF OPTION

      Subject to the provisions of Sections 7 and 8 of this Agreement, this
      Option shall become exercisable during the term of Optionee's employment
      in accordance with the following vesting schedule:

      This Option shall be exercisable in five (5) equal annual installments of
      twenty percent (20%) of the Shares covered by this Option, the first
      installment to be exercisable on the first anniversary of the date of this
      Option, with an additional twenty percent (20%) of the Shares becoming
      exercisable on each of the four successive anniversary dates; PROVIDED
      HOWEVER that Optionee may only exercise this Option with respect to a
      particular installment if the Corporation has met or exceeded the EBITDA
      (earnings before interest, taxes, depreciation, and amortization) budget
      established by the Board for the most recent fiscal year ended prior to
      the applicable exercise date for such installment. The Board in its
      discretion shall establish the annual EBITDA budgets, and may adjust such
      budgets for any extraordinary transactions (e.g., acquisitions). The
      installments shall be cumulative (e.g., this option may be exercised as to
      any or all Shares covered by an installment at any time or times after an
      installment becomes exercisable and until expiration or termination of
      this option).

   6. EXERCISE

      This Option shall be exercised by delivery to the Corporation of (a)
      written notice of exercise stating the number of Shares being purchased
      (in whole shares only) and such other information set forth on the form of
      Notice of Exercise attached hereto as Appendix A, (b) a check or cash in
      the amount of the Exercise Price of the Shares covered by the

                                   Page 2 of 8

<PAGE>

      notice (or such other consideration as has been approved by the Board of
      Directors consistent with the Plan) and (c) a written investment
      representation as provided for in Section 13 of this Agreement. This
      Option shall not be assignable or transferable, except by will or by the
      laws of descent and distribution, and shall be exercisable only by
      Optionee during his or her lifetime, except as provided in Section 8 of
      this Agreement.

   7. TERMINATION OF EMPLOYMENT

      If Optionee shall cease to be employed by the Corporation for any reason,
      whether voluntarily or involuntarily, other than by his or her death,
      Optionee (or if the Optionee shall die after such termination, but prior
      to such exercise date, Optionee's personal representative or the person
      entitled to succeed to the Option) shall have the right at any time not
      less than thirty (30) days nor more than three (3) months following such
      termination of employment or the remaining term of this Option, whichever
      is the lesser, to exercise in whole or in part this Option to the extent,
      but only to the extent, that this Option was exercisable as of the date of
      termination of employment and had not previously been exercised; provided,
      however:

         (i) If Optionee is permanently disabled (within the meaning of Code
         Section 22(e)(3)) at the time of termination, the foregoing period of
         limited exercise rights shall be modified to be not less than thirty
         (30) days and not more than one (1) year following termination; or

         (ii) If Optionee is terminated for "Cause" as that term is defined by
         the terms of the Plan or this Agreement or by any employment agreement
         between the Optionee and the Corporation, this Option shall
         automatically terminate as to all Shares covered by this Option not
         exercised prior to termination.

      Unless earlier terminated, all rights under this Option shall terminate in
      any event on the expiration date of this Option as defined in Section 4 of
      this Agreement.

   8. DEATH OF OPTIONEE

      If the Optionee shall die while in the employ of the Corporation,
      Optionee's personal representative or the person entitled to Optionee's
      rights hereunder may at any time within six (6) months after the date of
      Optionee's death, or during the remaining term of this Option, whichever
      is the lesser, exercise this Option and purchase Shares to the extent, but
      only to the extent, that Optionee could have exercised this Option as of
      the date of Optionee's death; provided, in any case, that this Option may
      be so exercised only to the extent that this Option has not previously
      been exercised by Optionee.

                                   Page 3 of 8

<PAGE>

   9. NO RIGHTS AS SHAREHOLDER

      Optionee shall have no rights as a shareholder with respect to the Shares
      covered by any installment of this Option until the effective date of
      issuance of Shares following exercise of this Option, and no adjustment
      will be made for dividends or other rights for which the record date is
      prior to the date such stock certificate or certificates are issued except
      as provided in Section 10 of this Agreement.

   10. RECAPITALIZATION

      Subject to any required action by the shareholders of the Corporation, the
      number of Shares covered by this Option, and the Exercise Price thereof,
      shall be proportionately adjusted for any increase or decrease in the
      number of issued shares resulting from a subdivision or consolidation of
      shares or the payment of a stock dividend, or any other increase or
      decrease in the number of such shares effected without receipt of
      consideration by the Corporation; provided however that the conversion of
      any convertible securities of the Corporation shall not be deemed to have
      been "effected without receipt of consideration by the Corporation."

      In the event of a proposed dissolution or liquidation of the Corporation,
      a merger or consolidation in which the Corporation is not the surviving
      entity, or a sale of all or substantially all of the assets or capital
      stock of the Corporation (collectively, a "Reorganization"), unless
      otherwise provided by the Board, this Option shall terminate immediately
      prior to such date as is determined by the Board, which date shall be no
      later than the consummation of the Reorganization. In such event, if the
      entity which shall be the surviving entity does not tender to Optionee an
      offer, having no obligation to do so, to substitute for any unexercised
      Option a stock option or capital stock of the surviving entity, as
      applicable, which on an equitable basis shall provide the Optionee with
      substantially the same economic benefit as such unexercised Option, then
      the Board may grant to such Optionee, in the Board's sole and absolute
      discretion and without obligation, the right for a period commencing
      thirty (30) days prior to and ending immediately prior to the date
      determined by the Board pursuant hereto for termination of the Option or
      during the remaining term of the Option, whichever is the lesser, to
      exercise any unexpired Option or Options without regard to the installment
      provisions of Section 5; provided, however, that such exercise shall be
      subject to the consummation of the Reorganization.

      Subject to any required action by the shareholders of the Corporation, if
      the Corporation shall be the surviving entity in any merger or
      consolidation, this Option thereafter shall pertain to and apply to the
      securities to which a holder of Shares equal to the Shares subject to this
      Option would have been entitled by reason of such merger or consolidation,
      and the installment provisions of Section 5 shall continue to apply.

      To the extent that the foregoing adjustments relate to shares or
      securities of the Corporation, such adjustments shall be made by the
      Board, whose determination in that respect shall be final, binding and
      conclusive. Except as expressly provided in this Agreement, Optionee shall
      have no rights by reason of any subdivision or consolidation of

                                   Page 4 of 8

<PAGE>

      shares of Stock of any class or the payment of any stock dividend or any
      other increase or decrease in the number of shares of stock of any class,
      and the number and price of Shares subject to this Option shall not be
      affected by, and no adjustments shall be made by reason of, any
      dissolution, liquidation, merger, consolidation or sale of assets or
      capital stock, or any issue by the Corporation of shares of stock of any
      class or securities convertible into shares of stock of any class.

      The grant of this Option shall not affect in any way the right or power of
      the Corporation to make adjustments, reclassifications, reorganizations or
      changes in its capital or business structure or to merge, consolidate,
      dissolve or liquidate or to sell or transfer all or any part of its
      business or assets.

   11. ADDITIONAL CONSIDERATION

      Should the Internal Revenue Service determine that the Exercise Price
      established by the Board as the fair market value per Share is less than
      the fair market value per Share as of the date of Option grant, Optionee
      hereby agrees to tender such additional consideration, or agrees to tender
      upon exercise of all or a portion of this Option, such fair market value
      per Share as is determined by the Internal Revenue Service.

   12. MODIFICATION, EXTENSION AND RENEWAL OF OPTIONS

      The Board or Committee, as described in the Plan, may modify, extend or
      renew this Option or accept its surrender (to the extent not yet
      exercised) and authorize the granting of a new option in substitution for
      it (to the extent not yet exercised), subject at all times to the Plan,
      Code Section 422 and applicable law. Notwithstanding the foregoing
      provisions of this Section 12, no modification shall, without the consent
      of the Optionee, alter to the Optionee's detriment or impair any rights of
      Optionee under this Agreement.

                                   Page 5 of 8

<PAGE>

   13. INVESTMENT INTENT; RESTRICTIONS ON TRANSFER

      (a) Optionee represents and agrees that if Optionee exercises this Option
      in whole or in part, Optionee will in each case acquire the Shares upon
      such exercise for the purpose of investment and not with a view to, or for
      resale in connection with, any distribution thereof; and that upon the
      exercise of this Option in whole or in part, Optionee (or any person or
      persons entitled to exercise this Option under the provisions of Sections
      7 and 8 of this Agreement) shall furnish to the Corporation a written
      statement to such effect, satisfactory to the Corporation in form and
      substance. If the Shares represented by this Option are registered under
      the Securities Act, either before or after the exercise of this Option in
      whole or in part, the Optionee shall be relieved of the investment
      representation and agreement and shall not be required to furnish the
      Corporation with the written statement.

      (b) Optionee further represents that Optionee has had access to the
      financial statements or books and records of the Corporation, has had the
      opportunity to ask questions of the Corporation concerning its business,
      operations and financial condition, and to obtain additional information
      reasonably necessary to verify the accuracy of such information.

      (c) Unless and until the Shares represented by this Option are registered
      under the Securities Act, all certificates representing the Shares and any
      certificates subsequently issued in substitution therefor and any
      certificate for any securities issued pursuant to any stock split, share
      reclassification, stock dividend or other similar capital event shall bear
      legends in substantially the following form:

      "THESE SECURITIES HA VB NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER
      THE SECURITIES ACT OF 1933 (THE "SECURITIES ACT") OR UNDER THE APPLICABLE
      SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST
      THEREIN MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE
      ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE
      SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM."

      "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ISSUED PURSUANT TO
      THAT CERTAIN INCENTIVE STOCK OPTION AGREEMENT DATED [date] BETWEEN THE
      CORPORATION AND THE ISSUEE WHICH RESTRICTS THE TRANSFER OF THESE SHARES
      AND MAY SUBJECT THE SHARES TO REPURCHASE BY THE CORPORATION UNDER CERTAIN
      CONDITIONS."

      The certificates shall bear such other legend or legends as the
      Corporation and its counsel deem necessary or appropriate. Appropriate
      stop transfer instructions with respect to the Shares have been placed
      with the Corporation's transfer agent.

                                   Page 6 of 8

<PAGE>

   14. EFFECTS OF EARLY DISPOSITION

      Optionee understands that if an Optionee disposes of shares acquired
      hereunder within two (2) years after the date of this Option or within one
      (1) year after the date of issuance of such shares to Optionee, the
      Optionee will be treated for income tax purposes as having received
      ordinary income at the time of the disposition of an amount generally
      measured by the difference between the purchase price and the fair market
      value of such stock on the date of exercise, subject to adjustment for any
      tax previously paid, in addition to any tax on the difference between the
      sales price and Optionee's adjusted cost basis in such shares. The
      foregoing amount may be measured differently if Optionee is an officer,
      director or Ten Percent Holder of the Corporation. Optionee agrees to
      notify the Corporation within ten (10) working days of any such
      disposition.

   15. STAND-OFF AGREEMENT

      Optionee agrees that in connection with any registration of the
      Corporation's securities under the Securities Act, and upon the request of
      the Corporation or any underwriter managing an underwritten offering of
      the Corporation's securities, Optionee shall not sell, short any sale of,
      loan, grant an option for, or otherwise dispose of any of the Shares
      (other than Shares included in the offering) without the prior written
      consent of the Corporation or such managing underwriter, as applicable,
      for a period of at least one (1) year following the effective date of
      registration of the offering.

   16. NOTICES

      Any notice required to be given pursuant to this Option or the Plan shall
      be in writing and shall be deemed to be delivered upon receipt or, in the
      case of notices by the Corporation, five (5) days after deposit in the
      U.S. mail, postage prepaid, addressed to Optionee at the address last
      provided to the Corporation by Optionee for his or her employee records.

   17. AGREEMENT SUBJECT TO PLAN; APPLICABLE LAW

      This Option is made pursuant to the Plan and shall be interpreted to
      comply with it. A copy of the Plan is available to Optionee, at no charge,
      at the principal office of the Corporation. Any provision of this Option
      inconsistent with the Plan shall be considered void and replaced with the
      applicable provision of the Plan. The interpretation and enforcement of
      this Option shall be governed by the laws of the State of Delaware.

      In witness whereof, the parties hereto have executed this Option as of the
date set forth in Section l(c) above.

                                   Page 7 of 8

<PAGE>

                                                DOVER SADDLERY, INC.

                                                By:________________________
                                                Its:_______________________

                                                OPTIONEE

                                                ___________________________
                                                Signature

                                                ___________________________
                                                Name

<PAGE>

                                   APPENDIX A

                    NOTICE OF EXERCISE OF STOCK OPTION DOVER

                                 SADDLERY, INC.

                           RE: INCENTIVE STOCK OPTION

      Notice is hereby given pursuant to Section 6 of my Incentive Stock Option
Agreement that I elect to purchase the number of shares set forth below at the
exercise price set forth in my option agreement:

      Incentive Stock Option Agreement dated:

      Number of shares being purchased:

      Exercise Price:

      A check in the amount of the aggregate price of the shares being purchased
is attached.

      I hereby confirm that the shares are being acquired by me for my own
account for investment purposes, and not with a view to, or for resale in
connection with, any distribution thereof. I will not sell or dispose of my
Shares in violation of the Securities Act of 1933, as amended, or any applicable
federal or state securities laws.

      I understand that the certificate representing the Option Shares will bear
a restrictive legend within the contemplation of the Securities Act and as
required by such other state or federal law or regulation applicable to the
issuance or delivery of the Option Shares.

      I agree to provide to the Company such additional documents or information
as may be required pursuant to the Company's 1999 Incentive and Nonstatutory
Stock Plan.

                                                Signature of Optionee

                                                Name of Optionee

Dated: _____________________

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