Document:

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                                                                    EXHIBIT 10.2

                           ISTA PHARMACEUTICALS, INC.

                        2000 EMPLOYEE STOCK PURCHASE PLAN

         The following constitute the provisions of the 2000 Employee Stock
Purchase Plan of ISTA Pharmaceuticals, Inc.

         1.       Purpose. The purpose of the Plan is to provide employees of
the Company and its Designated Subsidiaries with an opportunity to purchase
Common Stock of the Company through accumulated payroll deductions. It is the
intention of the Company to have the Plan qualify as an "Employee Stock Purchase
Plan" under Section 423 of the Internal Revenue Code of 1986, as amended. The
provisions of the Plan, accordingly, shall be construed so as to extend and
limit participation in a manner consistent with the requirements of that section
of the Code.

         2.       Definitions.

                  (a)      "Board" shall mean the Board of Directors of the
Company or any committee thereof designated by the Board of Directors of the
Company in accordance with Section 14 of the Plan.

                  (b)      "Code" shall mean the Internal Revenue Code of 1986,
as amended.

                  (c)      "Common Stock" shall mean the common stock of the
Company.

                  (d)      "Company" shall mean ISTA Pharmaceuticals, Inc. and
any Designated Subsidiary of the Company.

                  (e)      "Compensation" shall mean all base straight time
gross earnings and commissions, but exclusive of payments for overtime, shift
premium, incentive compensation, incentive payments, bonuses and other
compensation.

                  (f)      "Designated Subsidiary" shall mean any Subsidiary
that has been designated by the Board from time to time in its sole discretion
as eligible to participate in the Plan.

                  (g)      "Employee" shall mean any individual who is an
Employee of the Company for tax purposes whose customary employment with the
Company is at least twenty (20) hours per week and more than five (5) months in
any calendar year. For purposes of the Plan, the employment relationship shall
be treated as continuing intact while the individual is on sick leave or other
leave of absence approved by the Company. Where the period of leave exceeds 90
days and the individual's right to reemployment is not guaranteed either by
statute or by contract, the employment relationship shall be deemed to have
terminated on the 91st day of such leave.

                  (h)      "Enrollment Date" shall mean the first Trading Day of
each Offering Period.

                  (i)      "Exercise Date" shall mean the last Trading Day of
each Purchase Period.

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                  (j)      "Fair Market Value" shall mean, as of any date, the
value of Common Stock determined as follows:

                           (i)      If the Common Stock is listed on any
established stock exchange or a national market system, including without
limitation the Nasdaq National Market or The Nasdaq SmallCap Market of The
Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for
such stock (or the closing bid, if no sales were reported) as quoted on such
exchange or system for the last market trading day prior to the date of
determination, as reported in The Wall Street Journal or such other source as
the Board deems reliable;

                           (ii)     If the Common Stock is regularly quoted by a
recognized securities dealer but selling prices are not reported, its Fair
Market Value shall be the mean of the closing bid and asked prices for the
Common Stock prior to the date of determination, as reported in The Wall Street
Journal or such other source as the Board deems reliable;

                           (iii)    In the absence of an established market for
the Common Stock, the Fair Market Value thereof shall be determined in good
faith by the Board; or

                           (iv)     For purposes of the Enrollment Date of the
first Offering Period under the Plan, the Fair Market Value shall be the initial
price to the public as set forth in the final prospectus included within the
registration statement in Form S-1 filed with the Securities and Exchange
Commission for the initial public offering of the Company's Common Stock (the
"Registration Statement").

                  (k)      "Offering Periods" shall mean the periods of
approximately twenty-four (24) months during which an option granted pursuant to
the Plan may be exercised, commencing on the first Trading Day on or after
January 1 and July 1 of each year and terminating on the last Trading Day in the
periods ending twenty-four months later; provided, however, that the first
Offering Period under the Plan shall commence with the first Trading Day on or
after the date on which the Securities and Exchange Commission declares the
Company's Registration Statement effective and ending on the last Trading Day on
or before December 31, 2000. The duration and timing of Offering Periods may be
changed pursuant to Section 4 of this Plan.

                  (l)      "Plan" shall mean this 2000 Employee Stock Purchase
Plan.

                  (m)      "Purchase Period" shall mean the approximately six
month period commencing after one Exercise Date and ending with the next
Exercise Date, except that the first Purchase Period of any Offering Period
shall commence on the Enrollment Date and end with the next Exercise Date.

                  (n)      "Purchase Price" shall mean 85% of the Fair Market
Value of a share of Common Stock on the Enrollment Date or on the Exercise Date,
whichever is lower; provided however, that the Purchase Price may be adjusted by
the Board pursuant to Section 20.

                  (o)      "Reserves" shall mean the number of shares of Common
Stock covered by each option under the Plan which have not yet been exercised
and the number of shares of Common Stock which have been authorized for issuance
under the Plan but not yet placed under option.

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                  (p)      "Subsidiary" shall mean a corporation, domestic or
foreign, of which not less than 50% of the voting shares are held by the Company
or a Subsidiary, whether or not such corporation now exists or is hereafter
organized or acquired by the Company or a Subsidiary.

                  (q)      "Trading Day" shall mean a day on which national
stock exchanges and the Nasdaq System are open for trading.

         3.       Eligibility.

                  (a)      Any Employee who shall be employed by the Company on
a given Enrollment Date shall be eligible to participate in the Plan.

                  (b)      Any provisions of the Plan to the contrary
notwithstanding, no Employee shall be granted an option under the Plan (i) to
the extent that, immediately after the grant, such Employee (or any other person
whose stock would be attributed to such Employee pursuant to Section 424(d) of
the Code) would own capital stock of the Company and/or hold outstanding options
to purchase such stock possessing five percent (5%) or more of the total
combined voting power or value of all classes of the capital stock of the
Company or of any Subsidiary, or (ii) to the extent that his or her rights to
purchase stock under all employee stock purchase plans of the Company and its
subsidiaries accrues at a rate which exceeds Twenty-Five Thousand Dollars
($25,000) worth of stock (determined at the fair market value of the shares at
the time such option is granted) for each calendar year in which such option is
outstanding at any time.

         4.       Offering Periods. The Plan shall be implemented by
consecutive, overlapping Offering Periods with a new Offering Period commencing
on the first Trading Day on or after January 1 and July 1 each year, or on such
other date as the Board shall determine, and continuing thereafter until
terminated in accordance with Section 20 hereof; provided, however, that the
first Offering Period under the Plan shall commence with the first Trading Day
on or after the date on which the Securities and Exchange Commission declares
the Company's Registration Statement effective and ending on the last Trading
Day on or before December 31, 2000. The Board shall have the power to change the
duration of Offering Periods (including the commencement dates thereof) with
respect to future offerings without shareholder approval if such change is
announced at least five (5) days prior to the scheduled beginning of the first
Offering Period to be affected thereafter.

         5.       Participation.

                  (a)      An eligible Employee may become a participant in the
Plan by completing a subscription agreement authorizing payroll deductions in
the form of Exhibit A to this Plan and filing it with the Company's payroll
office prior to the applicable Enrollment Date.

                  (b)      Payroll deductions for a participant shall commence
on the first payroll following the Enrollment Date and shall end on the last
payroll in the Offering Period to which such authorization is applicable, unless
sooner terminated by the participant as provided in Section 10 hereof.

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         6.       Payroll Deductions.

                  (a)      At the time a participant files his or her
subscription agreement, he or she shall elect to have payroll deductions made on
each pay day during the Offering Period in an amount not exceeding fifteen
percent (15%) of the Compensation which he or she receives on each pay day
during the Offering Period.

                  (b)      All payroll deductions made for a participant shall
be credited to his or her account under the Plan and shall be withheld in whole
percentages only. A participant may not make any additional payments into such
account.

                  (c)      A participant may discontinue his or her
participation in the Plan as provided in Section 10 hereof, or may increase or
decrease the rate of his or her payroll deductions during the Offering Period by
completing or filing with the Company a new subscription agreement authorizing a
change in payroll deduction rate. The Board may, in its discretion, limit the
number of participation rate changes during any Offering Period. The change in
rate shall be effective with the first full payroll period following five (5)
business days after the Company's receipt of the new subscription agreement
unless the Company elects to process a given change in participation more
quickly. A participant's subscription agreement shall remain in effect for
successive Offering Periods unless terminated as provided in Section 10 hereof.

                  (d)      Notwithstanding the foregoing, to the extent
necessary to comply with Section 423(b)(8) of the Code and Section 3(b) hereof,
a participant's payroll deductions may be decreased to zero percent (0%) at any
time during a Purchase Period. Payroll deductions shall recommence at the rate
provided in such participant's subscription agreement at the beginning of the
first Purchase Period which is scheduled to end in the following calendar year,
unless terminated by the participant as provided in Section 10 hereof.

                  (e)      At the time the option is exercised, in whole or in
part, or at the time some or all of the Company's Common Stock issued under the
Plan is disposed of, the participant must make adequate provision for the
Company's federal, state, or other tax withholding obligations, if any, which
arise upon the exercise of the option or the disposition of the Common Stock. At
any time, the Company may, but shall not be obligated to, withhold from the
participant's compensation the amount necessary for the Company to meet
applicable withholding obligations, including any withholding required to make
available to the Company any tax deductions or benefits attributable to sale or
early disposition of Common Stock by the Employee.

         7.       Grant of Option. On the Enrollment Date of each Offering
Period, each eligible Employee participating in such Offering Period shall be
granted an option to purchase on each Exercise Date during such Offering Period
(at the applicable Purchase Price) up to a number of shares of the Company's
Common Stock determined by dividing such Employee's payroll deductions
accumulated prior to such Exercise Date and retained in the Participant's
account as of the Exercise Date by the applicable Purchase Price; provided that
in no event shall an Employee be permitted to purchase during each Purchase
Period more than 1,000 shares of the Company's Common Stock (subject to any
adjustment pursuant to Section 19), and provided further that such purchase
shall be subject to the limitations set forth in Sections 3(b) and 12 hereof.
The Board may, for future Offering Periods, increase or decrease, in its
absolute discretion, the maximum number of shares of

                                      -4-

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the Company's Common Stock an Employee may purchase during each Purchase Period
of such Offering Period. Exercise of the option shall occur as provided in
Section 8 hereof, unless the participant has withdrawn pursuant to Section 10
hereof. The option shall expire on the last day of the Offering Period.

         8.       Exercise of Option.

                  (a)      Unless a participant withdraws from the Plan as
provided in Section 10 hereof, his or her option for the purchase of shares
shall be exercised automatically on the Exercise Date, and the maximum number of
full shares subject to option shall be purchased for such participant at the
applicable Purchase Price with the accumulated payroll deductions in his or her
account. No fractional shares shall be purchased; any payroll deductions
accumulated in a participant's account which are not sufficient to purchase a
full share shall be retained in the participant's account for the subsequent
Purchase Period or Offering Period, subject to earlier withdrawal by the
participant as provided in Section 10 hereof. Any other monies left over in a
participant's account after the Exercise Date shall be returned to the
participant. During a participant's lifetime, a participant's option to purchase
shares hereunder is exercisable only by him or her.

                  (b)      If the Board determines that, on a given Exercise
Date, the number of shares with respect to which options are to be exercised may
exceed (i) the number of shares of Common Stock that were available for sale
under the Plan on the Enrollment Date of the applicable Offering Period, or (ii)
the number of shares available for sale under the Plan on such Exercise Date,
the Board may in its sole discretion (x) provide that the Company shall make a
pro rata allocation of the shares of Common Stock available for purchase on such
Enrollment Date or Exercise Date, as applicable, in as uniform a manner as shall
be practicable and as it shall determine in its sole discretion to be equitable
among all participants exercising options to purchase Common Stock on such
Exercise Date, and continue all Offering Periods then in effect, or (y) provide
that the Company shall make a pro rata allocation of the shares available for
purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform
a manner as shall be practicable and as it shall determine in its sole
discretion to be equitable among all participants exercising options to purchase
Common Stock on such Exercise Date, and terminate any or all Offering Periods
then in effect pursuant to Section 20 hereof. The Company may make pro rata
allocation of the shares available on the Enrollment Date of any applicable
Offering Period pursuant to the preceding sentence, notwithstanding any
authorization of additional shares for issuance under the Plan by the Company's
shareholders subsequent to such Enrollment Date.

         9.       Delivery. As promptly as practicable after each Exercise Date
on which a purchase of shares occurs, the Company shall arrange the delivery to
each participant, as appropriate, of a certificate representing the shares
purchased upon exercise of his or her option.

         10.      Withdrawal.

                  (a)      A participant may withdraw all but not less than all
the payroll deductions credited to his or her account and not yet used to
exercise his or her option under the Plan at any time by giving written notice
to the Company in the form of Exhibit B to this Plan. All of the participant's
payroll deductions credited to his or her account shall be paid to such
participant

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promptly after receipt of notice of withdrawal and such participant's option for
the Offering Period shall be automatically terminated, and no further payroll
deductions for the purchase of shares shall be made for such Offering Period. If
a participant withdraws from an Offering Period, payroll deductions shall not
resume at the beginning of the succeeding Offering Period unless the participant
delivers to the Company a new subscription agreement.

                  (b)      A participant's withdrawal from an Offering Period
shall not have any effect upon his or her eligibility to participate in any
similar plan which may hereafter be adopted by the Company or in succeeding
Offering Periods which commence after the termination of the Offering Period
from which the participant withdraws.

         11.      Termination of Employment.

                  Upon a participant's ceasing to be an Employee, for any
reason, he or she shall be deemed to have elected to withdraw from the Plan and
the payroll deductions credited to such participant's account during the
Offering Period but not yet used to exercise the option shall be returned to
such participant or, in the case of his or her death, to the person or persons
entitled thereto under Section 15 hereof, and such participant's option shall be
automatically terminated. The preceding sentence notwithstanding, a participant
who receives payment in lieu of notice of termination of employment shall be
treated as continuing to be an Employee for the participant's customary number
of hours per week of employment during the period in which the participant is
subject to such payment in lieu of notice.

         12.      Interest. No interest shall accrue on the payroll deductions
of a participant in the Plan.

         13.      Stock.

                  (a)      Subject to adjustment upon changes in capitalization
of the Company as provided in Section 19 hereof, the maximum number of shares of
the Company's Common Stock which shall be made available for sale under the Plan
shall be sixty thousand (60,000) shares plus an annual increase to be added on
the first day of the Company's fiscal year beginning in 2001, equal to the
lesser of (i) 200,000 shares, (ii) 1.5% of the outstanding shares on such date
or (iii) a lesser amount determined by the Board.

                  (b)      The participant shall have no interest or voting
right in shares covered by his option until such option has been exercised.

                  (c)      Shares to be delivered to a participant under the
Plan shall be registered in the name of the participant or in the name of the
participant and his or her spouse.

         14.      Administration. The Plan shall be administered by the Board or
a committee of members of the Board appointed by the Board. The Board or its
committee shall have full and exclusive discretionary authority to construe,
interpret and apply the terms of the Plan, to determine eligibility and to
adjudicate all disputed claims filed under the Plan. Every finding, decision and
determination made by the Board or its committee shall, to the full extent
permitted by law, be final and binding upon all parties.

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         15.      Designation of Beneficiary.

                  (a)      A participant may file a written designation of a
beneficiary who is to receive any shares and cash, if any, from the
participant's account under the Plan in the event of such participant's death
subsequent to an Exercise Date on which the option is exercised but prior to
delivery to such participant of such shares and cash. In addition, a participant
may file a written designation of a beneficiary who is to receive any cash from
the participant's account under the Plan in the event of such participant's
death prior to exercise of the option. If a participant is married and the
designated beneficiary is not the spouse, spousal consent shall be required for
such designation to be effective.

                  (b)      Such designation of beneficiary may be changed by the
participant at any time by written notice. In the event of the death of a
participant and in the absence of a beneficiary validly designated under the
Plan who is living at the time of such participant's death, the Company shall
deliver such shares and/or cash to the executor or administrator of the estate
of the participant, or if no such executor or administrator has been appointed
(to the knowledge of the Company), the Company, in its discretion, may deliver
such shares and/or cash to the spouse or to any one or more dependents or
relatives of the participant, or if no spouse, dependent or relative is known to
the Company, then to such other person as the Company may designate.

         16.      Transferability. Neither payroll deductions credited to a
participant's account nor any rights with regard to the exercise of an option or
to receive shares under the Plan may be assigned, transferred, pledged or
otherwise disposed of in any way (other than by will, the laws of descent and
distribution or as provided in Section 15 hereof) by the participant. Any such
attempt at assignment, transfer, pledge or other disposition shall be without
effect, except that the Company may treat such act as an election to withdraw
funds from an Offering Period in accordance with Section 10 hereof.

         17.      Use of Funds. All payroll deductions received or held by the
Company under the Plan may be used by the Company for any corporate purpose, and
the Company shall not be obligated to segregate such payroll deductions.

         18.      Reports. Individual accounts shall be maintained for each
participant in the Plan. Statements of account shall be given to participating
Employees at least annually, which statements shall set forth the amounts of
payroll deductions, the Purchase Price, the number of shares purchased and the
remaining cash balance, if any.

         19.      Adjustments Upon Changes in Capitalization, Dissolution,
Liquidation, Merger or Asset Sale.

                  (a)      Changes in Capitalization. Subject to any required
action by the shareholders of the Company, the Reserves, the maximum number of
shares each participant may purchase each Purchase Period (pursuant to Section
7), as well as the price per share and the number of shares of Common Stock
covered by each option under the Plan which has not yet been exercised shall be
proportionately adjusted for any increase or decrease in the number of issued
shares of Common Stock resulting from a stock split, reverse stock split, stock
dividend, combination or reclassification of the Common Stock, or any other
increase or decrease in the number of shares of Common Stock effected without
receipt of consideration by the Company; provided, however, that conversion of

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any convertible securities of the Company shall not be deemed to have been
"effected without receipt of consideration." Such adjustment shall be made by
the Board, whose determination in that respect shall be final, binding and
conclusive. Except as expressly provided herein, no issuance by the Company of
shares of stock of any class, or securities convertible into shares of stock of
any class, shall affect, and no adjustment by reason thereof shall be made with
respect to, the number or price of shares of Common Stock subject to an option.

                  (b)      Dissolution or Liquidation. In the event of the
proposed dissolution or liquidation of the Company, the Offering Period then in
progress shall be shortened by setting a new Exercise Date (the "New Exercise
Date"), and shall terminate immediately prior to the consummation of such
proposed dissolution or liquidation, unless provided otherwise by the Board. The
New Exercise Date shall be before the date of the Company's proposed dissolution
or liquidation. The Board shall notify each participant in writing, at least ten
(10) business days prior to the New Exercise Date, that the Exercise Date for
the participant's option has been changed to the New Exercise Date and that the
participant's option shall be exercised automatically on the New Exercise Date,
unless prior to such date the participant has withdrawn from the Offering Period
as provided in Section 10 hereof.

                  (c)      Merger or Asset Sale. In the event of a proposed sale
of all or substantially all of the assets of the Company, or the merger of the
Company with or into another corporation, each outstanding option shall be
assumed or an equivalent option substituted by the successor corporation or a
Parent or Subsidiary of the successor corporation. In the event that the
successor corporation refuses to assume or substitute for the option, any
Purchase Periods then in progress shall be shortened by setting a new Exercise
Date (the "New Exercise Date") and any Offering Periods then in progress shall
end on the New Exercise Date. The New Exercise Date shall be before the date of
the Company's proposed sale or merger. The Board shall notify each participant
in writing, at least ten (10) business days prior to the New Exercise Date, that
the Exercise Date for the participant's option has been changed to the New
Exercise Date and that the participant's option shall be exercised automatically
on the New Exercise Date, unless prior to such date the participant has
withdrawn from the Offering Period as provided in Section 10 hereof.

         20.      Amendment or Termination.

                  (a)      The Board of Directors of the Company may at any time
and for any reason terminate or amend the Plan. Except as provided in Section 19
hereof, no such termination can affect options previously granted, provided that
an Offering Period may be terminated by the Board of Directors on any Exercise
Date if the Board determines that the termination of the Offering Period or the
Plan is in the best interests of the Company and its shareholders. Except as
provided in Section 19 and this Section 20 hereof, no amendment may make any
change in any option theretofore granted which adversely affects the rights of
any participant. To the extent necessary to comply with Section 423 of the Code
(or any successor rule or provision or any other applicable law, regulation or
stock exchange rule), the Company shall obtain shareholder approval in such a
manner and to such a degree as required.

                  (b)      Without shareholder consent and without regard to
whether any participant rights may be considered to have been "adversely
affected," the Board (or its committee) shall be entitled to change the Offering
Periods, limit the frequency and/or number of changes in the amount

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withheld during an Offering Period, establish the exchange ratio applicable to
amounts withheld in a currency other than U.S. dollars, permit payroll
withholding in excess of the amount designated by a participant in order to
adjust for delays or mistakes in the Company's processing of properly completed
withholding elections, establish reasonable waiting and adjustment periods
and/or accounting and crediting procedures to ensure that amounts applied toward
the purchase of Common Stock for each participant properly correspond with
amounts withheld from the participant's Compensation, and establish such other
limitations or procedures as the Board (or its committee) determines in its sole
discretion advisable which are consistent with the Plan.

                  (c)      In the event the Board determines that the ongoing
operation of the Plan may result in unfavorable financial accounting
consequences, the Board may, in its discretion and, to the extent necessary or
desirable, modify or amend the Plan to reduce or eliminate such accounting
consequence including, but not limited to:

                           (i)      altering the Purchase Price for any Offering
Period including an Offering Period underway at the time of the change in
Purchase Price;

                           (ii)     shortening any Offering Period so that
Offering Period ends on a new Exercise Date, including an Offering Period
underway at the time of the Board action; and

                           (iii)    allocating shares.

                  Such modifications or amendments shall not require stockholder
approval or the consent of any Plan participants.

         21.      Notices. All notices or other communications by a participant
to the Company under or in connection with the Plan shall be deemed to have been
duly given when received in the form specified by the Company at the location,
or by the person, designated by the Company for the receipt thereof.

         22.      Conditions Upon Issuance of Shares. Shares shall not be issued
with respect to an option unless the exercise of such option and the issuance
and delivery of such shares pursuant thereto shall comply with all applicable
provisions of law, domestic or foreign, including, without limitation, the
Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as
amended, the rules and regulations promulgated thereunder, and the requirements
of any stock exchange upon which the shares may then be listed, and shall be
further subject to the approval of counsel for the Company with respect to such
compliance.

                  As a condition to the exercise of an option, the Company may
require the person exercising such option to represent and warrant at the time
of any such exercise that the shares are being purchased only for investment and
without any present intention to sell or distribute such shares if, in the
opinion of counsel for the Company, such a representation is required by any of
the aforementioned applicable provisions of law.

         23.      Term of Plan. The Plan shall become effective upon the earlier
to occur of its adoption by the Board of Directors or its approval by the
shareholders of the Company. It shall continue in effect for a term of ten (10)
years unless sooner terminated under Section 20 hereof.

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         24.      Automatic Transfer to Low Price Offering Period. To the extent
permitted by any applicable laws, regulations, or stock exchange rules if the
Fair Market Value of the Common Stock on any Exercise Date in an Offering Period
is lower than the Fair Market Value of the Common Stock on the Enrollment Date
of such Offering Period, then all participants in such Offering Period shall be
automatically withdrawn from such Offering Period immediately after the exercise
of their option on such Exercise Date and automatically re-enrolled in the
immediately following Offering Period as of the first day thereof.

                                      -10-

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                                    EXHIBIT A

                           ISTA PHARMACEUTICALS, INC.

                       2000 EMPLOYEE STOCK PURCHASE PLAN

                            SUBSCRIPTION AGREEMENT

_____ Original Application                           Enrollment Date:___________
_____ Change in Payroll Deduction Rate
_____ Change of Beneficiary(ies)

1.       ____________________ hereby elects to participate in the ISTA
         Pharmaceuticals, Inc. Employee Stock Purchase Plan (the "Employee Stock
         Purchase Plan") and subscribes to purchase shares of the Company's
         Common Stock in accordance with this Subscription Agreement and the
         Employee Stock Purchase Plan.

2.       I hereby authorize payroll deductions from each paycheck in the amount
         of ____% of my Compensation on each payday (from 0 to 15%) during the
         Offering Period in accordance with the Employee Stock Purchase Plan.
         (Please note that no fractional percentages are permitted.)

3.       I understand that said payroll deductions shall be accumulated for the
         purchase of shares of Common Stock at the applicable Purchase Price
         determined in accordance with the Employee Stock Purchase Plan. I
         understand that if I do not withdraw from an Offering Period, any
         accumulated payroll deductions will be used to automatically exercise
         my option.

4.       I have received a copy of the complete Employee Stock Purchase Plan. I
         understand that my participation in the Employee Stock Purchase Plan is
         in all respects subject to the terms of the Plan. I understand that my
         ability to exercise the option under this Subscription Agreement is
         subject to shareholder approval of the Employee Stock Purchase Plan.

5.       Shares purchased for me under the Employee Stock Purchase Plan should
         be issued in the name(s) of (Employee or Employee and Spouse only).

6.       I understand that if I dispose of any shares received by me pursuant to
         the Plan within 2 years after the Enrollment Date (the first day of the
         Offering Period during which I purchased such shares) or one year after
         the Exercise Date, I will be treated for federal income tax purposes as
         having received ordinary income at the time of such disposition in an
         amount equal to the excess of the fair market value of the shares at
         the time such shares were purchased by me over the price which I paid
         for the shares. I hereby agree to notify the Company in writing within
         30 days after the date of any disposition of my shares and I will make
         adequate provision for Federal, state or other tax withholding
         obligations, if any, which arise upon the

<PAGE>

         disposition of the Common Stock. The Company may, but will not be
         obligated to, withhold from my compensation the amount necessary to
         meet any applicable withholding obligation including any withholding
         necessary to make available to the Company any tax deductions or
         benefits attributable to sale or early disposition of Common Stock by
         me. If I dispose of such shares at any time after the expiration of the
         2-year and 1-year holding periods, I understand that I will be treated
         for federal income tax purposes as having received income only at the
         time of such disposition, and that such income will be taxed as
         ordinary income only to the extent of an amount equal to the lesser of
         (1) the excess of the fair market value of the shares at the time of
         such disposition over the purchase price which I paid for the shares,
         or (2) 15% of the fair market value of the shares on the first day of
         the Offering Period. The remainder of the gain, if any, recognized on
         such disposition will be taxed as capital gain.

7.       I hereby agree to be bound by the terms of the Employee Stock Purchase
         Plan. The effectiveness of this Subscription Agreement is dependent
         upon my eligibility to participate in the Employee Stock Purchase Plan.

8.       In the event of my death, I hereby designate the following as my
         beneficiary(ies) to receive all payments and shares due me under the
         Employee Stock Purchase Plan:

         NAME:  (Please print)__________________________________________________
                                   (First)          (Middle)          (Last)

         ___________________________      ______________________________________
         Relationship
                                          ______________________________________
                                          (Address)

         Employee's Social
         Security Number:                 ____________________________________

         Employee's Address:              ____________________________________

                                          ____________________________________

                                          ____________________________________

I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT SHALL REMAIN IN EFFECT THROUGHOUT
SUCCESSIVE OFFERING PERIODS UNLESS TERMINATED BY ME.

Dated:_________________________           ______________________________________
                                          Signature of Employee

                                          ______________________________________
                                          Spouse's Signature (If beneficiary
                                          other than spouse)

                                      -2-

<PAGE>

                                    EXHIBIT B

                           ISTA PHARMACEUTICALS, INC.

                        2000 EMPLOYEE STOCK PURCHASE PLAN

                              NOTICE OF WITHDRAWAL

         The undersigned participant in the Offering Period of the ISTA
Pharmaceuticals, Inc. Employee Stock Purchase Plan which began on ____________,
______ (the "Enrollment Date") hereby notifies the Company that he or she hereby
withdraws from the Offering Period. He or she hereby directs the Company to pay
to the undersigned as promptly as practicable all the payroll deductions
credited to his or her account with respect to such Offering Period. The
undersigned understands and agrees that his or her option for such Offering
Period will be automatically terminated. The undersigned understands further
that no further payroll deductions will be made for the purchase of shares in
the current Offering Period and the undersigned shall be eligible to participate
in succeeding Offering Periods only by delivering to the Company a new
Subscription Agreement.

                                          Name and Address of Participant:

                                          _________________________________

                                          _________________________________

                                          _________________________________

                                          Signature:

                                          _________________________________

                                          Date:____________________________<PAGE>

                                                                   Exhibit 10.11

                             VOTING AGREEMENT (PXP)

     VOTING AGREEMENT (this "Agreement") dated as of February 2, 2003, by and
among Plains Exploration & Production Company, a Delaware corporation ("PXP"),
3TEC Energy Corporation, a Delaware corporation ("3TEC"), EnCap Energy
Acquisition III-B, Inc., EnCap Energy Capital Fund III, L.P., BOCP Energy
Partners, L.P., and ECIC Corporation, (together with EnCap Energy Acquisition
III-B, Inc., EnCap Energy Capital Fund III, L.P. and BOCP Energy Partners, L.P.,
the "EnCap Entities"), Floyd C. Wilson ("Wilson"), Stephen W. Herod ("Herod"),
and R. A. Walker (with the EnCap Entities, Wilson, and Herod, each a
"Stockholder" and collectively, the "Stockholders").

     WHEREAS, each Stockholder desires that PXP, PXP Gulf Coast, Inc., a
Delaware corporation and wholly-owned subsidiary of PXP ("Merger Sub"), and
3TEC, enter into an Agreement and Plan of Merger dated the date hereof (the
"Merger Agreement"; undefined capitalized terms herein are defined in the Merger
Agreement) providing for the merger of 3TEC with and into Merger Sub (the
"Merger") upon the terms and subject to the conditions set forth in the Merger
Agreement;

     WHEREAS, each Stockholder is executing this Agreement as an inducement to
PXP to enter into and execute the Merger Agreement; and

     WHEREAS, concurrently with the execution and delivery of this Agreement,
3TEC is entering into a voting agreement with certain PXP Stockholders (the "PXP
Stockholders") under which such parties have, among other things, agreed to
support the Merger upon the terms and conditions set forth therein.

     NOW, THEREFORE, in consideration of the execution and delivery by PXP of
the Merger Agreement and the mutual covenants, conditions and agreements
contained herein and therein, the parties agree as follows:

     1. Representations and Warranties.

     (a) Each Stockholder severally represents and warrants to PXP as follows:

          (i) Such Stockholder is the record and beneficial owner of that number
     of shares of capital stock of 3TEC set forth opposite such Stockholder's
     name on Schedule A (together with any other shares of other capital stock
     of 3TEC acquired after the date hereof including through the exercise of
     any stock options, warrants or similar instruments) being collectively
     referred to herein as the "Subject Shares") and the other securities
     exercisable or exchangeable for such capital stock listed on Schedule A
     (the "Other Securities" and, together with the Subject Shares, the "Covered
     Securities"). The Subject Shares constitute the only shares, with respect
     to which such Stockholder is the record or beneficial owner, of capital
     stock of 3TEC or options, warrants or other rights (whether or not
     contingent) to acquire such shares of capital stock of 3TEC that are or may
     be entitled to vote on the Merger or the Merger Agreement at any meeting of
     3TEC's Stockholders called to vote upon the Merger or the Merger Agreement.
     Such

<PAGE>

     Stockholder has the sole right to vote and Transfer (as defined herein) the
     Covered Securities set forth opposite its name on Schedule A, and none of
     such Covered Securities is subject to any voting trust or other agreement,
     arrangement or restriction with respect to the voting or the Transfer of
     the Subject Shares, except (A) as provided by this Agreement (it being
     understood that any pledge of the Pledged Shares (as defined below) shall
     not be a breach of this representation) and (B) those arising under
     applicable securities laws. Such Stockholder has all requisite power and
     authority, and, if such Stockholder is a natural person, the legal
     capacity, to enter into this Agreement and to perform its obligations
     hereunder. To the extent that such Stockholder is an entity and not an
     individual, such Stockholder is duly organized, validly existing and in
     good standing under the laws of its jurisdiction of organization. The
     execution and delivery of this Agreement by such Stockholder and the
     performance by such Stockholder of its obligations hereunder have been duly
     authorized by all necessary action on the part of such Stockholder. This
     Agreement has been duly executed and delivered by, and constitutes a valid
     and binding agreement of, such Stockholder, enforceable against such
     Stockholder in accordance with its terms, except as enforcement may be
     limited by the Enforceability Exceptions.

          (ii) Neither the execution and delivery of this Agreement nor the
     performance by such Stockholder of its obligations hereunder will result in
     a violation of, or a default under, or conflict with, (A) if such
     Stockholder is an entity, any provision of its certificate of
     incorporation, bylaws, partnership agreement, limited liability company
     agreement or similar organizational documents, (B) any contract, trust,
     commitment, agreement, understanding, arrangement or restriction of any
     kind (other than as may relate to the Pledged Shares but subject to the
     proviso set forth in (iv) below) to which such Stockholder is a party or
     bound or to which the Covered Securities are subject, except, in the case
     of clause (B), as would not prevent, delay or otherwise materially impair
     such Stockholder's ability to perform its obligations hereunder. Execution,
     delivery and performance of this Agreement by such Stockholder will not
     violate, or require any consent, approval or notice under, any provision of
     any judgment, order, decree, statute, law, rule or regulation applicable to
     such Stockholder or the Covered Securities, except (x) for any reports
     under Sections 13(d) and 16 of the Exchange Act as may be required in
     connection with this Agreement and the transactions contemplated hereby or
     (y) as would not reasonably be expected to prevent, delay or otherwise
     materially impair such Stockholder's ability to perform its obligations
     hereunder.

          (iii) If the Stockholder is married and the Covered Securities of the
     Stockholder constitute community property or spousal approval is otherwise
     required for this Agreement to be legal, valid and binding, then, to the
     extent so required, this Agreement has been duly authorized, executed and
     delivered by, and constitutes a valid and binding agreement of, the
     Stockholder's spouse, enforceable against such spouse in accordance with
     its terms, subject to the Enforceability Exceptions.

          (iv) The Covered Securities and the certificates representing such
     Covered Securities are held by such Stockholder, or by a nominee or
     custodian for the benefit of such Stockholder, free and clear of all liens,
     claims, security interests, proxies, voting trusts or agreements,
     understandings or arrangements or any other encumbrances

                                       2

<PAGE>

     whatsoever, except for (A) any such encumbrances arising hereunder, or (B)
     any such encumbrances arising pursuant to the pledge of any Covered
     Securities by such Stockholder to a financial institution or a brokerage
     firm (the "Pledged Shares"); provided, however, that such Stockholder
     represents that any such arrangement regarding such Pledged Shares shall
     not prevent, delay or otherwise materially impair such Stockholder's
     ability to execute and deliver this Agreement or perform its obligations
     hereunder and such Stockholder shall use his reasonable efforts to obtain
     an acknowledgment by the pledgee of the terms of this Agreement and such
     pledgee's agreement to vote the Pledged Shares (if and to the extent the
     voting power of the Pledged Shares is being or to be exercised by pledgee)
     in accordance with Section 2.

          (v) No broker, investment banker, financial advisor or other person is
     entitled to any broker's, finder's, financial advisor's or other similar
     fee or commission based upon arrangements made by or on behalf of such
     Stockholder in connection with its entering into this Agreement.

          (vi) Such Stockholder understands and acknowledges that PXP is
     entering into the Merger Agreement in reliance upon such Stockholder's
     execution and delivery of this Agreement.

     (b) PXP represents and warrants to each Stockholder and 3TEC that the
execution and delivery of this Agreement by PXP and the consummation by PXP of
the transactions contemplated hereby have been duly authorized by all necessary
action on the part of PXP.

     (c) 3TEC represents and warrants to each Stockholder and PXP that the
execution and delivery of this Agreement by 3TEC and the consummation by 3TEC of
the transactions contemplated hereby have been duly authorized by all necessary
action on the part of 3TEC.

     2. Voting Agreements. During the Term (as defined below) of this Agreement,
at any meeting of stockholders of 3TEC or at any adjournment thereof or in any
other circumstances upon which a vote, consent or other approval (including by
written consent) is sought, each Stockholder shall, including by executing a
written consent solicitation if requested by PXP, vote (or cause to be voted)
the Subject Shares: (a) in favor of the Merger, the adoption by 3TEC of the
Merger Agreement and the approval of the terms thereof and each of the other
Transactions and (b) against any transaction, agreement, matter or 3TEC
Acquisition Proposal that would impede, interfere with, delay, postpone or
attempt to discourage the Merger and the Merger Agreement.

     3. Irrevocable Proxy. Each Stockholder hereby appoints PXP as its proxy to
vote all of such Stockholder's Subject Shares at any meeting of stockholders of
3TEC (including any adjournments and postponements thereof) on the matters
described in Section 2, and to execute and deliver any written consents to
fulfill such Stockholder's obligations under this Agreement. This proxy is
coupled with an interest and is irrevocable until the end of the Term.

                                       3

<PAGE>

     4. Revocation of Other Proxies. To the extent inconsistent with the other
provisions of this Agreement or the Merger Agreement, each Stockholder hereby
revokes any and all previous proxies with respect to such Stockholder's Subject
Shares.

     5. Other Covenants. Each Stockholder severally agrees with, and covenants
to, PXP during the Term of this Agreement as follows:

     (a) Such Stockholder shall not after the date hereof (i) sell, transfer,
pledge, assign or otherwise dispose of (including by gift) (collectively,
"Transfer"), or consent to any Transfer of, any Covered Securities or any
interest therein, except pursuant to the Merger, (ii) enter into any contract,
option or other agreement with respect to any Transfer of any or all of the
Covered Securities or any interest therein, (iii) grant any proxy,
power-of-attorney or other authorization in or with respect to the Subject
Shares or (iv) deposit the Subject Shares into a voting trust or enter into a
voting agreement or voting arrangement with respect to the Subject Shares;
provided, that any such Stockholder may Transfer any of the Covered Securities
to an affiliate of such Stockholder (provided such affiliates evidences in a
writing reasonably satisfactory to the other parties hereto such affiliate's
agreement to the terms hereof) or any other Stockholder who is on the date
hereof or hereafter becomes a party to this Agreement; provided, further, that
the restrictions in this Section 5 shall not be deemed violated by any Transfer
of Covered Securities pursuant to a cashless exercise of stock options or
warrants; and provided, further, that a pledge of Pledged Shares made in
accordance with Section 1(a)(iv) shall not be deemed to be a violation of the
restrictions in this Section 5.

     (b) Such Stockholder hereby waives any rights of appraisal, or rights to
dissent from the Merger, that such Stockholder may have.

     (c) Such Stockholder shall not take any action prohibited by Section 7.2 of
the Merger Agreement.

     6. Additional Covenants. During the Term of this Agreement no Stockholder
shall (a) exercise any of the Other Securities other than as contemplated by
Section 3.3 of the Merger Agreement or (b) convert any shares of Series D
Preferred Stock, par value $.02, of 3TEC.

     7. Certain Events. This Agreement and the obligations hereunder shall
attach to each Stockholder's Covered Securities and shall be binding upon any
Person to which legal or beneficial ownership of such Shares shall pass, whether
by operation of law or otherwise, including such Stockholder's heirs, guardians,
administrators or successors. In the event of any stock split, stock dividend,
merger, reorganization, recapitalization or other change in the capital
structure of 3TEC affecting the Covered Securities or the acquisition of
additional shares of Covered Securities or other voting securities of 3TEC by
any Stockholder, the number of Covered Securities listed on Schedule A beside
the name of such Stockholder shall be adjusted appropriately and this Agreement
and the obligations hereunder shall attach to any additional Covered Securities
or other voting securities of 3TEC issued to or acquired by such Stockholder.

     8. Stop Transfer. 3TEC shall not register the transfer of any certificate
representing any Covered Securities, unless such transfer is made to PXP or
otherwise in compliance with this Agreement.

                                       4

<PAGE>

     9. Stockholder Capacity. No person executing this Agreement (or an
affiliate thereof) who is or becomes during the Term a director of 3TEC makes
any agreement or understanding herein in his or her capacity as such director.
Each Stockholder signs solely in his or her capacity as the record and
beneficial owner of, or the trustee of a trust whose beneficiaries are the
beneficial owners of, such Stockholder's Covered Securities.

     10. Further Assurances. Each Stockholder shall, upon request of PXP,
execute and deliver any additional documents and take such further actions as
may reasonably be deemed by PXP to be necessary or desirable to carry out the
provisions hereof.

     11. Termination. This Agreement, and all rights and obligations of the
parties hereunder, shall terminate upon (and shall only be effective from the
date hereof until) the first to occur of (i) the Effective Time of the Merger,
or (ii) the date upon which the Merger Agreement is terminated in accordance
with its terms (such period from the date hereof until such termination is
referred to herein as the "Term"); provided, however, that (x) Section 12 shall
survive any termination of this Agreement and (y) termination of this Agreement
pursuant to clause (ii) above shall not relieve any party hereto from liability
for any willful and knowing breach hereof prior to such termination.

     12. Miscellaneous.

     (a) All notices, requests, claims, demands and other communications under
this Agreement shall be in writing and shall be deemed given if delivered
personally or sent by overnight courier (providing proof of delivery) to the
parties at the following addresses (or at such other address for a party as
shall be specified by like notice): (i) if to PXP or 3TEC, to the appropriate
address set forth in Section 11.1 of the Merger Agreement; and (ii) if to a
Stockholder, to the appropriate address set forth on Schedule A.

     (b) Each Party submits to the jurisdiction of any state or federal court
sitting in the State of Delaware in any dispute or action arising out of or
relating to this Agreement and agrees that all claims in respect of such dispute
or action may be heard and determined in any such court. Each Party also agrees
not to bring any dispute or action arising out of or relating to this Agreement
in any other court. Each Party agrees that a final judgment in any dispute or
action so brought will be conclusive and may be enforced by action on the
judgment or in any other manner provided at law (common, statutory or other) or
in equity. Each Party waives any defense of inconvenient forum to the
maintenance of any dispute or action so brought and waives any bond, surety, or
other security that might be required of any other Party with respect thereto.

     (c) Each Party appoints RLF Service Corp., One Rodney Square, Wilmington,
Delaware 19801 as their agent to receive on their behalf service of copies of
the summons and complaint and any other process that might be served in an
dispute or action (the "Process Agent"). Any Party may make service on any other
Party by sending or delivering a copy of the process (i) to the Party to be
served at the address and in the manner provided for the giving of notices in
Section 12(a) or (ii) to the Party to be served in care of the Process Agent at
the address and in the manner provided for the giving of notices in Section
12(a).

                                       5

<PAGE>

     (d) The headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this
Agreement.

     (e) This Agreement may be executed in two or more counterparts, all of
which shall be considered one and the same agreement and shall become effective
as to any Stockholder when one or more counterparts have been signed by each of
PXP, 3TEC and such Stockholder and delivered to PXP, 3TEC and such Stockholder.

     (f) This Agreement (including the documents and instruments referred to
herein) constitutes the entire agreement, and supersedes all prior agreements
and understandings, both written and oral, among the parties with respect to the
subject matter hereof, and this Agreement is not intended to confer upon any
other person (other than PXP) any rights or remedies hereunder.

     (g) This Agreement shall be governed by, and construed in accordance with,
the laws of the State of Delaware, regardless of the laws that might otherwise
govern under applicable principles of conflicts of laws thereof.

     (h) Neither this Agreement nor any of the rights, interests or obligations
under this Agreement shall be assigned, in whole or in part, by operation of law
or otherwise, by any of the parties without the prior written consent of the
other parties, except by laws of descent or as expressly provided by Section
5(a). Any assignment in violation of the foregoing shall be void.

     (i) As between any Stockholder and PXP, each of such parties agrees that
irreparable damage to the other, non-breaching party would occur and that such
non-breaching party would not have any adequate remedy at law in the event that
any of the provisions of this Agreement were not performed in accordance with
their specific terms or were otherwise breached. It is accordingly agreed that
the non-breaching party shall be entitled to an injunction or injunctions to
prevent breaches by the other party of this Agreement and to enforce
specifically the terms and provisions of this Agreement, this being in addition
to any other remedy to which it may be entitled at law or in equity.

     (j) If any term, provision, covenant or restriction herein, or the
application thereof to any circumstance, shall, to any extent, be held by a
court of competent jurisdiction to be invalid, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions herein and the
application thereof to any other circumstances shall remain in full force and
effect, shall not in any way be affected, impaired or invalidated, and shall be
enforced to the fullest extent permitted by law.

     (k) No amendment, modification or waiver in respect of this Agreement shall
be effective against any party unless it shall be in writing and signed by such
party.

                            [SIGNATURE PAGE FOLLOWS]

                                       6

<PAGE>

     IN WITNESS WHEREOF, PXP, 3TEC, and the Stockholders party hereto have
caused this Agreement to be duly executed and delivered as of the date first
written above.

                                     PLAINS EXPLORATION AND PRODUCTION COMPANY

                                     By:
                                        ----------------------------------------
                                     Name: James C. Flores
                                     Title: Chief Executive Officer

                                     3TEC ENERGY CORPORATION

                                     By:
                                        ----------------------------------------
                                     Name: Floyd C. Wilson
                                     Title: Chief Executive Officer

                                     STOCKHOLDERS:

                                     -------------------------------------------
                                     FLOYD C. WILSON

                                     -------------------------------------------
                                     STEPHEN W. HEROD

                                     -------------------------------------------
                                     R. A. WALKER

                                     ENCAP ENERGY CAPITAL FUND III, L.P.

                                     By:  ENCAP INVESTMENTS L.L.C.,
                                          General Partner

                                     By:
                                        ----------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title: Managing Director

                                       7

<PAGE>

                                     ENCAP ENERGY ACQUISITION III-B, INC.

                                     By:
                                        ----------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title: Vice President

                                     BOCP ENERGY PARTNERS, L.P.

                                     By:  ENCAP INVESTMENTS L.L.C.,  Manager

                                     By:
                                        ----------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title: Managing Director

                                     ECIC CORPORATION

                                     By:
                                        ----------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title: Vice President

                                     ENCAP INVESTMENTS L.L.C.

                                     By:
                                        ----------------------------------------
                                     Name:
                                           -------------------------------------
                                     Title: Managing Director

                                       8

<PAGE>

                                   SCHEDULE A

<TABLE>
<CAPTION>
                                                                                                  Other Securities
                                                                                                 *= $3.00 Warrants,
                                           Common Stock                                         **=$30.00 Warrants,
   Stockholder Name and Address      (# includes Res. Shares)    Series D Preferred Stock        += Vested Options
   ----------------------------      ------------------------    ------------------------      -----------------------
<S>                                           <C>                        <C>                          <C>
EnCap Energy Acquisition                      957,587                    145,850                      281,642*
III-B, Inc.                                                                                            60,458**
1100 Louisiana
Suite 3150
Houston, Texas 77002
Attn: Managing Director

EnCap Energy Capital Fund III,              1,266,144                    192,846                      372,393*
L.P.                                                                                                   79,939**
1100 Louisiana                                                                                        110,000+
Suite 3150
Houston, Texas 77002
Attn: Managing Director

BOCP Energy Partners, L.P.                    309,809                     47,187                      91,120*
1100 Louisiana                                                                                        19,560**
Suite 3150
Houston, Texas 77002
Attn: Managing Director

ECIC Corporation                              447,095                     68,097                     131,498*
1100 Louisiana                                                                                        28,227**
Suite 3150
Houston, Texas 77002
Attn: Managing Director

Floyd C. Wilson                               572,610/1/                     -0-                     290,014*
848 Kuhlman Rd.                                37,500#                                               633,335+
Houston, Texas 77024

Stephen W. Herod                               47,686                        -0-                     194,167+
1110 Briar Ridge                                5,000#
Houston, Texas 77057

R. A. Walker                                    2,000                        -0-                     725,001+
21 North Wynden #4                             25,000#
Houston, Texas 77056

TOTAL                                       3,602,931                    453,980                   1,166,667*
                                               62,500#                                               188,184**
                                                                                                   1,662,503+
</TABLE>
--------
/1/  Includes 5,000 shares held by Wilvest Limited Partnership, of which Mr.
     Wilson is a general partner.

                                       9

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