Document:

<PAGE>   1
       Exhibit 10(v) to Annual Report on Form 10-K for Symix Systems, Inc.

          FIRST AMENDMENT TO AMENDED AND RESTATED LOAN AGREEMENT AMONG
              SYMIX SYSTEMS, INC. and SYMIX COMPUTER SYSTEMS, INC.
                                       AND
                                  BANK ONE, NA

         THIS FIRST AMENDMENT ("First Amendment") is executed June 27, 2000,
between SYMIX SYSTEMS, INC., an Ohio corporation ("SSI") and SYMIX COMPUTER
SYSTEMS, INC., an Ohio corporation ("SCSI" and, collectively with SSI, the
"Companies") and BANK ONE, NA, a national association ("Bank One").

                                   WITNESSETH:

         WHEREAS, the Companies and Bank One, parties to that certain Amended
and Restated Loan Agreement dated as of May 18, 2000 (the "Agreement"), have
agreed to amend the Agreement on the terms and conditions hereinafter set forth.
Terms not otherwise defined herein are used as defined in the Agreement as
amended hereby;

         WHEREAS, the Companies desire to sell the assets of one of their
subsidiaries, extend the completion date of a required field audit and limit the
amount of investments they can make in third parties.

         NOW, THEREFORE, the Companies and Bank One hereby agree as follows:

         SECTION 1. AMENDMENT OF THE AGREEMENT. The Agreement is, effective the
date hereof, hereby amended as follows:

                  1.1. Section 4.18 shall be amended and restated in its
         entirety as follows:

                           4.18 Accounts Receivable Reporting. SCSI will furnish
                           to Bank One as soon as practicable after the end of
                           each calendar month, and in any event within 10 days
                           thereafter, a summary Accounts aging report in a
                           format acceptable to Bank One and a Borrowing Base
                           Certificate for such month. From time to time, SCSI
                           shall be required to deliver detailed aging
                           schedules, trial balances, test verifications of
                           Accounts and other reports reasonably requested by
                           Bank One. The Companies shall assist Bank One in the
                           completion (at a cost of $5,000 to the Companies) of
                           a field audit of the Accounts by August 31, 2000.

                  1.2. A new Section 5.16 shall be added to the Agreement as
         follows:

                           5.16. Investments. The Companies and the Borrowers
                           will not make or permit to remain outstanding any
                           Investments (as defined below) except (a) operating
                           deposit accounts with Bank One and (b) Permitted
<PAGE>   2
                           Investments (as defined below). "Investment" in any
                           Person means: (a) the acquisition (whether for cash,
                           property, services or securities or otherwise) of
                           capital stock, bonds, notes, debentures, partnership
                           or other ownership interests or other securities of
                           such Person; and (b) any deposit with, or advance,
                           loan or other extension of credit to, such Person
                           (other than any such advance, loan or other extension
                           of credit having a term not exceeding 90 days
                           representing the purchase price of inventory or
                           supplies purchased in the ordinary course of
                           business), but specifically excluding guarantees.
                           "Permitted Investments" means any Investment of the
                           Companies and the Borrowers in any of the following
                           instruments: (a) marketable direct obligations issued
                           or unconditionally Guaranteed by the United States
                           Government or issued by any agency or instrumentality
                           thereof and backed by the full faith and credit of
                           the United States, in each case maturing within 270
                           days from the date of acquisition thereof; (b)
                           marketable general obligations issued by any state of
                           the United States of America or any political
                           subdivision of any such state or any public
                           instrumentality thereof maturing within 270 days from
                           the date of acquisition thereof, having one of the
                           two highest ratings generally obtainable from
                           Standard & Poor's Corporation (or its successor) or
                           Moody's Investors Service, Inc. (or its successor);
                           (c) commercial paper maturing within 270 days from
                           the date of acquisition thereof and, at the time of
                           acquisition, rated A-1 (or the equivalent) or better
                           by Standard & Poor's Corporation (or its successor)
                           or P-1 (or the equivalent) or better by Moody's
                           Investors Service, Inc. (or its successor); (d)
                           operating deposit accounts, deposits maturing on
                           demand or certificates of deposit or bankers'
                           acceptances maturing on demand or within 270 days
                           from the date of acquisition thereof issued by Bank
                           One or any other commercial bank organized under the
                           laws of the United States or any state thereof or the
                           District of Columbia having a combined capital,
                           surplus and undivided profits of at least
                           $250,000,000; (e) repurchase obligations issued by
                           Bank One or any other bank described in clause (c)
                           above with respect to obligations described in clause
                           (a) above, (f) zero coupon bonds issued or
                           unconditionally guaranteed by the United States
                           Government or issued by any agency or instrumentality
                           thereof and backed by the full faith and credit of
                           the United States; (g) any Investment owned by the
                           Company as of the date of this Agreement; (h)
                           Investments in third Persons in an aggregate amount
                           not to exceed $2,000,000; (i) loans and advances to
                           officers and directors of the Companies or any
                           Subsidiaries (or employees thereof provided such
                           loans and advances are approved by an officer of one
                           of the Companies) for travel, entertainment and
                           relocation expenses in the ordinary course of
                           business; (j) loans and advances to and Investments
                           in Subsidiaries; (k) Investments in notes and other
                           securities received in settlement of overdue debts
                           and accounts payable in the ordinary course of
                           business and for amounts which are not, individually
                           or in the aggregate, material to the Companies and
                           the Borrowers taken as a whole; and (l) the renewal
                           of any Investment owned by the Companies or the
                           Borrowers as of the date of this Agreement on similar
                           terms.

                                       2
<PAGE>   3
                  1.3. Bank One hereby consents to the sale of the assets of
         Visual Applications Software, Inc., an Ontario corporation ("VAS") by
         the Companies and hereby agrees that the term "Borrowers" in the
         Agreement shall be amended and restated in its entirety as follows:

                           "Borrowers" means the Companies and Symix Systems
                           Ontario, Inc., an Ontario corporation or any
                           successor corporations.

                  1.4. In Section 7, the term "Guarantors" shall be deleted and
         replaced in its entirety as follows:

                           "Guarantors" shall mean Symix Computer Systems
                           (Canada), Inc.; Symix (UK) Ltd.; Symix Computer
                           Systems (UK) Ltd; Symix Systems B.V.; Symix Computer
                           Systems Delaware, Inc.; e-Mongoose, Inc.; Frontstep,
                           Inc.; brightwhite solutions, inc.; and Symix Computer
                           Systems (Mexico) S. DeR.L. De C.V.

         SECTION 2. GOVERNING LAW. This First Amendment shall be governed by and
construed in accordance with the laws of the State of Ohio.

         SECTION 3. COSTS AND EXPENSES. All fees, costs or expenses, including
reasonable fees and expenses of outside legal counsel, incurred by Bank One in
connection with either the preparation, administration, amendment, modification
or enforcement of this First Amendment shall be paid by the Companies on
request.

         SECTION 4. COUNTERPARTS. This First Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of
which when taken together shall constitute one and the same agreement.

         SECTION 5. CONFESSION OF JUDGMENT. Each Company hereby authorizes any
attorney at law to appear for the Company, in an action on this First Amendment,
at any time after the same becomes due, as herein provided, in any court of
record in or of the State of Ohio, or elsewhere, to waive the issuing and
service of process against the Company and to confess judgment in favor of the
holder of this First Amendment or the party entitled to the benefits of this
First Amendment against the Company for the amount that may be due, with
interest at the rate herein mentioned and costs of suit, and to waive and
release all errors in said proceedings and judgment, and all petitions in error,
and right of appeal from the judgment rendered. No judgment against one Company
shall preclude Bank One from taking a confessed judgment against the other
Company.

                                       3
<PAGE>   4
         SECTION 6. CONDITIONS PRECEDENT. Simultaneously with the execution
hereof, Bank One shall receive all of the following, each dated the date hereof,
in form and substance satisfactory to Bank One:

                  6.1. [Intentionally Omitted}

                  6.2. The Borrowers shall execute the revised $2,000,000
         Revolving Credit Note attached hereto as Exhibit A-2(2).

                  6.3. Such other documents as Bank One may, in its reasonable
         discretion, so require.

         SECTION 7. REAFFIRMATION OF REPRESENTATIONS AND WARRANTIES; NO
DEFAULTS. The Companies hereby expressly acknowledge and confirm that the
representations and warranties of the Company set forth in Section 3 of the
Agreement are true and accurate on this date with the same effect as if made on
and as of this date; that no financial condition or circumstance exists which
would inevitably result in the occurrence of an Event of Default under Section 6
of the Agreement; and that no event has occurred or no condition exists which
constitutes, or with the running of time or the giving of notice would
constitute an Event of Default under Section 6 of the Agreement.

         SECTION 8. REAFFIRMATION OF DOCUMENTS. Except as herein expressly
modified, the parties hereto ratify and confirm all of the terms, conditions,
warranties and covenants of the Agreement, and all security agreements, pledge
agreements, mortgage deeds, assignments, subordination agreements, or other
instruments or documents executed in connection with the Agreement, including
provisions for the payment of the Notes pursuant to the terms of the Agreement.
This First Amendment does not constitute the extinguishment of any obligation or
indebtedness previously incurred, nor does it in any manner affect or impair any
security interest granted to Bank One, all of such security interests to be
continued in full force and effect until the indebtedness described herein is
fully satisfied.

                                       4
<PAGE>   5
         The Companies have executed this First Amendment as of the date first
above written.

<TABLE>
<S>                                                  <C>
SYMIX SYSTEMS, INC.                                  SYMIX COMPUTER SYSTEMS, INC.

By:    /s/ Lawrence W. DeLeon                      By:      /s/ Lawrence W. DeLeon
   -------------------------------------------        ---------------------------------------------
Name:  Lawrence W. DeLeon                            Name:  Lawrence W. DeLeon
Its:   Vice President, Chief Financial Officer       Its:   Vice President, Chief Financial Officer
          and Secretary                                         and Secretary
</TABLE>

--------------------------------------------------------------------------------
WARNING - BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT
TRIAL. IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU
WITHOUT YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT
FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR
RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT,
OR ANY OTHER CAUSE.
--------------------------------------------------------------------------------

BANK ONE, NA

By:  /s/ Michael R. Zaksheske
   --------------------------
Name:    Michael R. Zaksheske
Its:     Vice President

                                       5
<PAGE>   6
                                 EXHIBIT A-2(2)
                SECOND AMENDED AND RESTATED REVOLVING CREDIT NOTE

================================================================================
$2,000,000                                                        Columbus, Ohio
                                                                   June 27, 2000
================================================================================

         On or before July 1, 2001, for value received, the undersigned, SYMIX
SYSTEMS, INC., an Ohio corporation ("SSI"), SYMIX COMPUTER SYSTEMS, INC., an
Ohio corporation ("SCSI") and SYMIX SYSTEMS ONTARIO, INC., an Ontario
corporation ("SSO") (individually, a "Borrower" and, collectively, the
"Borrowers") hereby promise to pay to the order of Bank One, NA, a national
association (the "Bank") or its assigns, as further provided herein, the
principal amount of Two Million Dollars ($2,000,000) or, if such principal is
less, the aggregate unpaid principal amount of all loans made by the Bank to the
Borrowers pursuant to the Credit Commitment less any amounts loaned to SSI and
SCSI (the "Companies") under the $13,000,000 Second Amended and Restated
Revolving Credit Note dated as of May 18, 2000 under the Agreement referred to
in Section 1 hereof, together with interest on the unpaid principal balance from
time to time outstanding hereunder until paid in full at the rates determined in
accordance with the provisions of Section 1.1.4 of the Agreement, payable as set
forth in the Agreement. Both principal and interest are payable in federal funds
or other immediately available money of the United States of America at the Main
Office of the Bank, 100 East Broad Street, Columbus, Ohio 43271-0170. Proceeds
from borrowings under this Amended and Restated Revolving Credit Note are to be
used solely to fund the operations of SSO and VAS, whether borrowed by VAS, SSO
or the Companies. This Second Amended and Restated Revolving Credit Note amends
and restates in its entirety the Amended and Restated Revolving Credit Note
dated as of May 18, 2000 issued by the Borrowers to the Bank.

         SECTION 1. LOAN AGREEMENT. This Second Amended and Restated Revolving
Credit Note is the $2,000,000 Revolving Credit Note referred to in the Amended
and Restated Loan Agreement dated as of the date hereof (the "Agreement")
between the Companies and the Bank, as the same may be amended, modified or
supplemented from time to time, which Agreement, as amended, is incorporated by
reference herein. All capitalized terms used herein shall have the same meanings
as are assigned to such terms in the Agreement. This Second Amended and Restated
Revolving Credit Note is entitled to the benefits of and is subject to the
terms, conditions and provisions of the Agreement. The Agreement, among other
things, contains provisions for acceleration of the maturity hereof upon the
happening of certain stated events, and also for repayments and reborrowings on
account of the principal hereof prior to maturity upon the terms, conditions and
provisions specified.

         SECTION 2. WAIVER OF PRESENTMENT. The Borrowers hereby waive
presentment, demand, notice, protest, notice of protest, notice of dishonor and
all other demands and notices in connection with the delivery, acceptance,
performance and enforcement of this Second Amended and Restated Revolving Credit
Note.

                                       6
<PAGE>   7
         SECTION 3. CONFESSION OF JUDGMENT. The Borrowers hereby authorize any
attorney at law to appear for the Borrowers, in an action on this Second Amended
and Restated Revolving Credit Note, at any time after the same becomes due, as
herein provided, in any court of record in or of the State of Ohio, or
elsewhere, to waive the issuing and service of process against the Borrowers and
to confess judgment in favor of the holder of this Second Amended and Restated
Revolving Credit Note against the Borrowers for the amount that may be due, with
interest at the rate herein mentioned and costs of suit, and to waive and
release all errors in said proceedings and judgment, and all petitions in error,
and right of appeal from the judgment rendered. No judgment against one Borrower
shall impair the Bank's right to receive a confession of judgment against any of
the remaining Borrowers.

         SECTION 4. WAIVER OF JURY TRIAL. THE BANK AND THE BORROWERS HEREBY
VOLUNTARILY, IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY RIGHT TO HAVE A JURY
PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT, OR
OTHERWISE, BETWEEN THE BANK AND THE BORROWERS ARISING OUT OF, IN CONNECTION
WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED BETWEEN THE
BORROWERS AND THE BANK IN CONNECTION WITH ANY LOAN DOCUMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH OR THEREWITH OR THE TRANSACTIONS RELATED HERETO
OR THERETO. THIS PROVISION IS A MATERIAL INDUCEMENT TO THE BANK TO ENTER INTO
THE FINANCING TRANSACTIONS WITH THE BORROWERS. IT SHALL NOT IN ANY WAY AFFECT,
WAIVE, LIMIT, AMEND OR MODIFY THE BANK'S ABILITY TO PURSUE ITS REMEDIES
INCLUDING, BUT NOT LIMITED TO, ANY CONFESSION OF JUDGMENT OR COGNOVIT PROVISION
CONTAINED HEREIN OR IN ANY OTHER DOCUMENT RELATED HERETO.

         SECTION 5. NATURE OF OBLIGATIONS. The obligations of the Borrowers
hereunder (the "Obligations") are joint and several and a separate action or
actions may be brought and prosecuted against any Borrower regardless of whether
any action is brought against any other Borrower or whether the other Borrower
is joined in any such action(s). The Borrowers may be sued together or either of
them may be sued separately without first, contemporaneously or subsequently,
suing the other. The Bank may compromise with any of the Borrowers for less than
all of the amounts owing hereunder and under the Loan Documents and release any
of the Borrowers from all further liability to the Bank for the amounts owing
hereunder and under the Agreement all without impairing the rights of the Bank
to demand and collect the balance of the amounts owing hereunder and under the
Agreement from any other Borrower not so sued or released. There shall be no
duty or obligation of the Bank to exhaust any remedy in law or in equity against
any Borrower before bringing suit or instituting proceedings of any kind against
any other Borrower. The Borrowers and all sureties, endorsers and guarantors of
this Second Amended and Restated Revolving Credit Note (a) waive demand,
presentment for payment, notice of nonpayment, protest, notice of protest and
all other notices, filing of suit and diligence in collecting this Second
Amended and Restated Revolving Credit Note, (b) agree to any release of any
party primarily or secondarily liable thereon, and (c) consent to any extension
or postponement of time of payment of this Second Amended and Restated Revolving
Credit Note and to any other indulgence with respect hereto without notice
thereof to any of them.

                                       7
<PAGE>   8
         The Obligations hereunder are irrevocable and may only be discharged by
the full and timely payment of the amounts owing by the Borrowers hereunder and
thereunder and will not be discharged, released, altered or modified by any
other action or omission of any Person, on any one or more occasions, including,
without limitation (a) the amendment, modification or waiver of the Agreement or
any performance due hereunder or thereunder, (b) the impairment, grant,
exchange, release, surrender or disposal of any collateral, (c) the release or
discharge of a Borrower's Obligations, (d) the existence or assertion by any
Borrower of any personal defense to its obligations including, without
limitation, bankruptcy, (e) the exercise, pursuit or waiver of any right or
remedy that the Bank may have at any time, (f) the Bank's failure to give notice
to any Borrower of the occurrence of any default in any Borrower's performance
hereunder or under the Agreement, (g) the taking or omission to take any action
hereunder or under the Agreement, (h) the Bank's release or discharge of any
guaranty or accommodation with respect to the Obligations, (i) the impossibility
or illegality of performance by the Borrowers or (j) any change in the corporate
organization of the Bank.

         If any Borrower at any time shall pay any sums on account of any
Obligation or take any other action in performance of any Obligation, such
Borrower shall be subrogated to the rights, powers, privileges and remedies of
the Bank in respect of such Obligation; provided that all such rights of
subrogation and all claims and indebtedness arising therefrom shall be, and the
Borrower hereby agrees that the same are, and shall be at all times, in all
respects subordinate and junior to the Banks claims for all the Obligations, and
provided, further, that the Borrower hereby agrees that it shall not seek to
exercise any such rights of subrogation, reimbursement, exoneration, or
indemnity whatsoever or any rights of recourse to any security for any of the
Obligations unless or until all the Obligations shall have been indefeasibly
paid in full. The waivers, representations, warranties, covenants and agreements
contained in this paragraph are for the benefit of and may be enforced by the
Bank and such Borrower and their respective successors and assigns, including
without limitation any trustee in bankruptcy of such Borrower.

                                       8
<PAGE>   9
         The undersigned executed this Second Amended and Restated Revolving
Credit Note as of the day and year first set forth above.

SYMIX SYSTEMS ONTARIO, INC.

By:   /s/ Lawrence W. DeLeon
Name: Lawrence W. DeLeon
     ----------------------------------------
Its:  Vice President, Chief Financial Officer
         and Secretary

--------------------------------------------------------------------------------
WARNING - BY SIGNING THIS PAPER YOU GIVE UP YOUR RIGHT TO NOTICE AND COURT
TRIAL. IF YOU DO NOT PAY ON TIME A COURT JUDGMENT MAY BE TAKEN AGAINST YOU
WITHOUT YOUR PRIOR KNOWLEDGE AND THE POWERS OF A COURT CAN BE USED TO COLLECT
FROM YOU REGARDLESS OF ANY CLAIMS YOU MAY HAVE AGAINST THE CREDITOR WHETHER FOR
RETURNED GOODS, FAULTY GOODS, FAILURE ON HIS PART TO COMPLY WITH THE AGREEMENT,
OR ANY OTHER CAUSE.
--------------------------------------------------------------------------------

<TABLE>
<S>                                                  <C>
SYMIX COMPUTER SYSTEMS, INC.                SYMIX SYSTEMS, INC.

By:    /s/ Lawrence W. DeLeon                      By:    /s/ Lawrence W. DeLeon
   -----------------------------------------          ------------------------------------------
Name: Lawrence W. DeLeon                           Name:  Lawrence W. DeLeon
Its:  Vice President, Chief Financial Officer      Its:   Vice President, Chief Financial Officer
         and Secretary                                       and Secretary
</TABLE>

                                       9<PAGE>   1
     Exhibit 10(a)(a) to Annual Report on Form 10-K for Symix Systems, Inc.

                               SYMIX SYSTEMS, INC.

                          EMPLOYEE STOCK PURCHASE PLAN

         1. PURPOSE OF THE PLAN. The purpose of the Symix Systems, Inc. Employee
Stock Purchase Plan (the "Plan") is to provide eligible employees of Symix
Systems, Inc. (the "Company") and/or its subsidiaries with an opportunity to
acquire an equity interest in the Company through the purchase of common shares
of the Company ("Common Shares"), and thus develop an incentive to remain with
the Company and/or its subsidiaries, and to provide a means for employees to
share in the future success of the Company. The proceeds from the Plan will
provide additional capital for the Company, which will be used for general
corporate purposes. 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 "Code"), and the Plan is to be construed
accordingly.

         2. ADMINISTRATION. The Plan shall be administered by the Compensation
Committee (the "Committee") consisting of not less than three members who shall
be appointed by, and shall serve at the pleasure of, the Board of Directors of
the Company. Each member of the Committee must be an outside director of the
Company and shall not be eligible to participate in the Plan. Subject to express
provisions of the Plan and to such instructions and limitations as the Board of
Directors of the Company may establish from time to time, the Committee shall
have the authority to prescribe, amend and rescind rules and regulations
relating to the Plan. The Committee may interpret the Plan and may correct any
defect or supply any omission or reconcile any inconsistency in the Plan to the
extent necessary for the effective operation of the plan. Any determination,
decision or action taken by the Committee on the matters referred to in this
paragraph shall be conclusive.

         The Committee may delegate any portion of its authority to administer
the Plan on a day-to-day basis to such officers of the Company as it may deem
appropriate; provided that any discretionary decisions with respect to
participation in the Plan by any executive officers or other persons subject to
Section 16 of the Securities Exchange Act may be made only by the Committee.

         3. EFFECTIVENESS OF THE PLAN. The Plan shall become effective on March
1, 1996.

         4. SHARES SUBJECT TO THE PLAN. Subject to adjustment as provided in
Paragraph 17 herein, not more than 100,000 Common Shares of the Company shall be
offered under the Plan. The Common Shares subject to the Plan may be authorized
and unissued Common Shares or previously issued Common Shares acquired by the
Company and held as treasury shares.

<PAGE>   2

         5. OFFERINGS UNDER THE PLAN. After the Plan has become effective, one
or more "Offerings", as determined by the Committee, may be made to eligible
employees to purchase Common Shares subject to the Plan. The Offerings may be
consecutive or concurrent as determined by the Committee. With respect to each
Offering, the Committee shall specify an Offering Period and the maximum number
of Common Shares that may be purchased under the Offering. The Offering Period
shall not exceed twelve (12) months. Common Shares not sold under one Offering
may be offered again in any subsequent Offering.

         The first business day of the month designated by the Committee as the
start of the Offering Period applicable to an Offering shall be the "Effective
Date" of such Offering under the Plan.

         6. ELIGIBILITY. Subject to the terms of this Plan, any employee of the
Company (and any employee of any subsidiary of the Company which from time to
time may be designated by the Committee for inclusion in an Offering under the
Plan under Paragraph 20 hereof) who is employed by the Company at the Effective
Date of an Offering, and who is or will be customarily employed for more than
twenty (20) hours per week and for more than five (5) months per year, may
participate in Offerings under the Plan, with the exception that all 5%
shareholder employees and all directors and officers of the Company are not
eligible to participate in the Offerings under the Plan. For purposes of the
Plan, a "5% shareholder employee" is an employee of the Company or a subsidiary
of the Company who owns greater than 5% of the total combined voting power or
value of all classes of shares of the Company or a subsidiary of the Company.

         Nothing contained herein and no rules and regulations prescribed by the
Committee shall permit or deny participation in any Offering contrary to the
requirements of the Code (including, without limitation, Sections 423(b)(3),
423(b)(4) and 423(b)(8) thereof).

         Nothing contained herein and no rules and regulations prescribed by the
Committee shall permit any employee to be granted an Option under the Plan:

         (a) If, immediately after such Option is granted, such employee would
own, and/or hold outstanding options or rights to purchase, shares of the
Company or of any subsidiary of the Company possessing five percent (5%) or more
of the total combined voting power or value of all classes of shares of the
Company or such subsidiary; or

         (b) Which permits an employee's rights to purchase Common Shares under
all employee stock purchase plans of the Company and of its subsidiaries to
accrue at a rate which exceeds Twenty-Five Thousand Dollars ($25,000.00) of fair
market value of Common Shares (determined as of the date such right is granted)
for each calendar year in which such right is outstanding at any time.

For the purpose of clause 6(a) above, the provisions of Section 424(d) of the
Code shall apply in determining the stock ownership of each employee. For the
purpose of Clause

<PAGE>   3

(b) above, the provisions of Section 423(b)(8) of the Code shall apply in
determining whether an employee's Options and other rights are permitted to
accrue at a rate in excess of the permitted rate.

         7. PARTICIPATION IN OFFERINGS. Except as may be otherwise provided for
herein, each employee who is eligible for and elects to participate in an
Offering shall be granted Options for as many full Common Shares as he may elect
to purchase during that Offering, to be paid by payroll deductions during such
period; provided, however, that the amount elected must be in whole dollars or
percentages, the minimum deductions of an employee shall not be at a rate less
than Twenty Dollars ($20.00) per month and the maximum deductions shall not be
at a rate exceeding ten percent (10%) of the base salary of an employee. Subject
to this Paragraph 7, all such eligible employees shall be granted the same
rights and privileges under each such Offering.

         The "Annual Enrollment Date" for any Offering shall be the Effective
Date. In order to participate in the Offering an eligible employee must enroll
by completing and forwarding (i) an "Enrollment/Change Form" to the Committee at
least twenty (20) days prior to the Annual Enrollment Date and (ii) an
"Authorization for Payroll Deductions" form to the appropriate payroll location
at least twenty (20) days prior to the Annual Enrollment Date for the Offering;
provided, however, that an eligible employee hired during the twenty (20) day
period prior to the Annual Enrollment Date may participate in the Plan by filing
an Enrollment/Change Form and Authorization for Payroll Deductions form on or
before such Annual Enrollment Date. Notwithstanding any provision contained
herein, for the initial Annual Enrollment Date for the Plan, the
Enrollment/Change Form and the Authorization for Payroll Deductions form must be
completed and forwarded prior to March 9, 1996, unless extended by the officers
of the Company. The Authorization for Payroll Deductions form will authorize a
regular payroll deduction from that employee's compensation during the Offering
Period applicable to that Offering, commencing with the Annual Enrollment Date
following timely receipt of such authorization. Payroll deductions may not be
retroactive.

         The amounts withheld through such payroll deductions shall be credited
to each Participant's cash account (the "Cash Account"). The withholdings for
each calendar month from compensation of a Participant shall be made on a date
or dates specified by the Company (the "payroll deduction date(s)"). Such
amounts will be delivered to a custodian for the Plan selected by the Company
(the "Custodian") and held pending the purchase of Common Shares as described in
Paragraph 10 hereof.

         Subject to the other limitations of this Paragraph 7, a Participant
may, by written notice to the Company at least twenty (20) days prior to any
payroll deduction date, increase or decrease the amount of his payroll deduction
as of such payroll deduction date; provided, however, that a Participant's
payroll deduction may be changed only twice during any Offering.

         Notwithstanding the foregoing, a Participant may by written notice to
the Company at least twenty (20) days prior to any payroll deduction date
discontinue payroll

<PAGE>   4

deductions as of such payroll deduction date. Payroll deductions may not
thereafter be resumed until the next Annual Enrollment Date.

         A Participant may withdraw from the Offering entirely at any time prior
to the Option Date (as defined in Paragraph 8) for the Offering by delivering a
"Withdrawal Notice" to the Company. If such notice is received by the Company at
least twenty (20) business days prior to the Option Date, the Participant's Cash
Account balance will not be used to purchase Common Shares on the Option Date.
Instead, the Cash Account balance will be refunded to the Participant. The
Participant will not be eligible to re-enroll in that Offering, but may resume
participation on the Annual Enrollment Date for the next Offering. In addition,
the Committee may impose such other restrictions on the right to withdraw from
Offerings as it may deem appropriate.

         8. GRANT OF OPTIONS. Options to purchase Common Shares shall be granted
to Participants who elect to participate in an Offering. Such Options may be
exercised on the last business day of the Offering (each such last business day
is referred to herein as an "Option Date"). The number of Common Shares subject
to Options on each Option Date shall not exceed the number of shares authorized
for issuance during the applicable Offering. Options granted for each Offering
shall terminate following the close of business on the Option Date for the
Offering to the extent such Options are not exercised on such Option Date.

         9. INTEREST ON CASH ACCOUNTS. The payroll deductions and other funds
held in Participants' Cash Accounts shall bear interest at a rate as may be
agreed upon by the Company and the Custodian.

         10. PURCHASE PRICE AND EXERCISE OF OPTIONS. The purchase price for a
Common Share under each Offering shall be determined by the Committee prior to
the Effective Date of each Offering and shall be stated as a percentage of the
fair market value of a Common Share on either the Option Date or the Effective
Date, whichever is the lesser, but the purchase price shall not be less than the
lesser of ninety percent (90%) of the per share fair market value of the Common
Shares as of the Effective Date for the Offering or ninety percent (90%) of the
per share fair market value of the Common Shares as of the Option Date for the
Offering.

         The fair market value of a Common Share on any date shall be the
closing price per share of the Common Shares on the NASDAQ National Market
System or on any national stock exchange on such date or, if no such sales of
Common Shares are made on such date, on the next preceding date on which sales
of Common Shares were made on NASDAQ or on any national stock exchange.

         Each Option shall be exercised on the Option Date with respect to such
Option. Each Participant automatically and without any act on his part will be
deemed to have exercised an Option on each Option Date to the extent that the
amount in his Cash Account on such Option Date is sufficient to purchase whole
Common Shares on the Option Date. Fractional Common Shares will not be issued
under the Plan. Any

<PAGE>   5

remaining amount credited to a Participant's Cash Account which is not
sufficient to purchase a whole Common Share shall remain in such Participant's
Cash Account for use in the next Offering unless withdrawn by the Participant.

         The Company shall deliver to the Custodian as soon as practicable after
each Option Date a certificate for the total number of whole Common Shares
purchased by all Participants on such Option Date. If the aggregate Cash Account
balances of all Participants on any Option Date exceeds the amount required to
purchase all of the Common Shares subject to Options on that Option Date, then
the Option Shares (as defined in Paragraph 18 hereof), shall be allocated as
provided in Paragraph 18 hereof.

         The Custodian shall establish and maintain a separate share account for
each Participant (a "Share Account"), which shall be credited with the number of
whole Common Shares purchased on each Option Date by each Participant. A
Participant may withdraw the Common Shares credited to his Share Account on a
first-in-first-out basis by written notice to the Custodian at least twenty (20)
days prior to an Annual Enrollment Date. A Participant may withdraw all or a
portion of the Common Shares which were credited to his Share Account on or
prior to the Option Date immediately preceding such Annual Enrollment Date. A
Participant will be charged a fee by the Custodian for each such withdrawal. The
amount of such fee shall be as agreed from time to time by the Custodian and the
Company. The initial fee shall be $5.00 per withdrawal. The Custodian shall
deliver to such Participant a share certificate issued in his name for the
number of whole Common Shares he wishes to withdraw from his Share Account. At
least annually, there shall be delivered to each Participant a statement of his
Share Account showing the number of Common Shares purchased during the preceding
twelve months (or lesser period of existence of the Offering), the Option prices
paid for the Common Shares, the dates of purchase of the Common Shares, and the
amount to be included in the ordinary income of the Participant at such time as
the Common Shares are sold, as prescribed by Section 423(c) of the Code.

         Society National Bank, N.A. shall be the initial Custodian. The Company
may remove any Custodian, and any Custodian may resign, upon 60 days' notice in
writing to the other party, as the case may be. Any successor Custodian shall be
appointed by the Company. The Company shall pay all fees and costs of the
Custodian as agreed between the Company and the Custodian from time to time,
except for the withdrawal fees payable by Participants as described above.

         The Company may, at any time after the end of an Offering Period, close
the Cash Accounts of employees not participating in another Offering under the
Plan, in which case any balance in such Cash Accounts which constitutes the
Participants' payroll deductions will be refunded to the employees. Any balance
remaining in the Cash Account of a Participant after the end of an Offering
Period shall remain in the Participant's Cash Account for use in the next
Offering.

         The Company may, at any time after the end of an Offering Period, close
the Share Accounts related to such Offering, in which case the Custodian shall
deliver to

<PAGE>   6

each Participant in that Offering a share certificate issued in his name for the
number of whole Common Shares credited to his Share Account, without charging a
withdrawal fee.

         11. REGISTRATION OF CERTIFICATES. Common Shares withdrawn by
Participants will be registered, and share certificates therefor will be issued,
only in the name of the Participant.

         12. RIGHTS AS SHAREHOLDERS. With respect to Common Shares subject to an
Option, pending exercise of such Option, the Participant shall not be deemed to
be a shareholder and shall not have any of the rights or privileges of a
shareholder. A Participant who has exercised an Option shall have the rights and
privileges of a shareholder immediately following such exercise.

         13. USE OF PLAN FUNDS. Subject to Paragraph 10 hereof, all amounts
received by the Company upon exercise of Options granted under the Plan may be
used for any corporate purpose or purposes of the Company.

         14. TERMINATION OF EMPLOYMENT. If the employment of a Participant
terminates for any reason, including death, disability, retirement or other
cause, his participation in the Plan automatically and without any act on his
part shall terminate as of the date of termination of his employment. As soon as
practicable following the Participant's termination of employment, the Company
shall refund to such Participant (or beneficiary, in the case of the
Participant's death) any and all amount in his Cash Account and the Custodian
shall deliver to such Participant a share certificate issued in his name for the
number of whole Common Shares credited to his Share Account through prior
Offerings.

         15. RESTRICTION UPON ASSIGNMENT. Options granted to a Participant under
the Plan shall not be transferable (including pledge or hypothecation), and
shall be exercisable during the Participant's lifetime only by the Participant.
The Company shall not recognize and shall be under no duty to recognize
assignment or purported assignment by a Participant of his Options or of any
rights under his Options.

         16. GOVERNMENT REGULATIONS. The Company's obligation to issue, sell or
deliver any Common Shares under this Plan is subject to all applicable laws and
regulations and to the approval of any governmental or regulatory authority
required in connection with the issuance, sale or delivery of such Common
Shares. The Company shall not be required to issue, sell or deliver any Common
Shares under this Plan prior to (a) the approval of such Common Shares for
quotation on NASDAQ as National Market Systems Securities or for listing on any
national stock exchange, and (b) the completion of any registration or other
qualification of such Common Shares under any state or Federal law or any ruling
or regulation of any governmental or regulatory authority which the Company in
its sole discretion shall determine to be necessary or advisable.

         17. ADJUSTMENT OF SHARES UPON CHANGES IN CAPITALIZATION.
Notwithstanding any other provision of the Plan, in the event of any change in
the outstanding Common Shares, by reason of a dividend payable in Common Shares,
recapitalization, merger,

<PAGE>   7

consolidation, split-up, combination or exchange of shares, or the like,
appropriate adjustments shall be made to the aggregate number and class of
shares subject to the Plan, the number and class of shares subject to
outstanding subscription rights, the purchase price per share (in the case of
shares subject to outstanding subscription rights), and the number and class of
shares which may be subscribed to by any one employee, and such other
adjustments shall be made as may be deemed equitable by the Committee.

         18. PROPORTIONATE DISTRIBUTION. If the aggregate Cash Account balances
of all Participants on any Option Date exceeds the amount required to purchase
all of the Common Shares subject to Options on that Option Date ("Option
Shares"), then the Option Shares shall be allocated pro rata among the
Participants in the proportion that the number of Option Shares bears to the
number of Common Shares that could have been purchased with such aggregate
amount available, if an unlimited number of Common Shares were available for
purchase; provided, however, that no reduction shall prohibit any employee
participating in that Offering from purchasing at least five (5) full Common
Shares during the course of the Offering. Any balances remaining in
Participants' Cash Accounts due to over subscription will remain in the
Participants' Cash Accounts for use in the next Offering unless withdrawn by the
Participant.

         19. DIVIDEND REINVESTMENT. All cash dividends paid, if any, with
respect to the Common Shares credited to a Participant's Share Account shall be
added to the Participant's Cash Account and thereby shall be applied to exercise
Options to purchase whole Common Shares on the Option Date next succeeding the
date such cash dividends are paid by the Company. An election to leave Common
Shares with the Custodian shall constitute an election to apply the cash
dividends with respect to such shares to the exercise of Options hereunder.
Common Shares so purchased shall be applied to the shares credited to each
Participant's Share Account.

         20. DESIGNATION OF SUBSIDIARIES FOR INCLUSION IN OFFERINGS. At any time
and from time to time the Committee may designate for inclusion in an Offering
under the Plan any corporation which, on the Effective Date of that Offering, is
a subsidiary (as defined in Section 424(f) of the Code) of the Company.

         21. AMENDMENT OF THE PLAN. To the extent permitted by law, the
Committee may at any time and from time to time make such changes in the Plan
and additions to it as the Committee deems advisable; provided, however, that,
except as provided in Paragraphs 17, 18 and 20 hereof, and except with respect
to changes or additions in order to make the Plan comply with Section 423 of the
Code, the Committee may not make any changes or additions which would adversely
affect subscription rights or Options previously granted under the Plan and may
not, without approval of the shareholders of the Company, make any changes or
additions which would (a) increase the aggregate number of Common Shares subject
to the Plan or which may be subscribed to by an employee, (b) decrease the
minimum purchase price for a Common Share, or (c) change any of the provisions
of the Plan relating to eligibility for participation in Offerings.

<PAGE>   8

         22. DURATION AND TERMINATION OF THE PLAN. The Plan shall terminate upon
the earlier to occur of the following two events:

         (a) The purchase by employees of all of the Common Shares subject to
the Plan; or

         (b) The termination of the Plan by the Board of Directors of the
Company.

         In addition, if the Plan is not approved by the Company's Shareholders
prior to December 30, 1996, the Plan will automatically terminate, and each
Participant will receive a refund of the amounts credited to his Cash Account.

         No termination of the Plan shall affect Options or subscription rights
previously granted under this Plan.

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