Document:

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                                                                    EXHIBIT 10.1

                              iXL ENTERPRISES, INC.

                        2000 EMPLOYEE STOCK PURCHASE PLAN

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                              iXL ENTERPRISES, INC.

                        2000 EMPLOYEE STOCK PURCHASE PLAN

                                TABLE OF CONTENTS

<TABLE>
<S>                                                                                                 <C>
ARTICLE I - BACKGROUND...............................................................................1

         1.1  Establishment of the Plan..............................................................1
         1.2  Applicability of the Plan..............................................................1
         1.3  Purpose................................................................................1

ARTICLE II - DEFINITIONS.............................................................................1

         2.1    Administrator........................................................................1
         2.2    Board................................................................................1
         2.3    Code.................................................................................1
         2.4    Committee............................................................................1
         2.5    Common Stock.........................................................................2
         2.6    Compensation.........................................................................2
         2.7    Contribution Account.................................................................2
         2.8    Corporation..........................................................................2
         2.9    Direct Registration System...........................................................2
         2.10  Effective Date........................................................................2
         2.11  Eligible Employee.....................................................................2
         2.12  Employee..............................................................................2
         2.13  Employer..............................................................................3
         2.14  Fair Market Value.....................................................................3
         2.15  Offering Date.........................................................................3
         2.16  Offering Period.......................................................................3
         2.17  Option................................................................................3
         2.18  Participant...........................................................................3
         2.19  Plan..................................................................................3
         2.20  Purchase Date.........................................................................3
         2.21  Purchase Price........................................................................3
         2.22  Request Form..........................................................................3
         2.23  Stock Account.........................................................................3
         2.24  Subsidiary............................................................................4
         2.25  Trading Date..........................................................................4

ARTICLE III - ELIGIBILITY AND PARTICIPATION..........................................................4

         3.1  Eligibility............................................................................4
         3.2  Initial Participation..................................................................4
</TABLE>
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<TABLE>
<S>                                                                                                 <C>
         3.3  Leave of Absence.......................................................................5

ARTICLE IV - STOCK AVAILABLE.........................................................................5

         4.1  In General.............................................................................5
         4.2  Adjustment in Event of Changes in Capitalization.......................................5
         4.3  Dissolution, Liquidation, or Merger....................................................5

ARTICLE V. - OPTION PROVISIONS.......................................................................6

         5.1  Purchase Price.........................................................................6
         5.2  Calendar Year $25,000 Limit............................................................6
         5.3  Offering Period Limit..................................................................6

ARTICLE VI - PURCHASING COMMON STOCK.................................................................6

         6.1  Participant's Contribution Account.....................................................7
         6.2  Payroll Deductions, Dividends..........................................................7
         6.3  Discontinuance.........................................................................7
         6.4  Leave of Absence; Transfer of Ineligible Status........................................8
         6.5  Automatic Exercise.....................................................................8
         6.6  Listing, Registration, and Qualification of Shares.....................................9

ARTICLE VII - WITHDRAWALS, DISTRIBUTIONS.............................................................9

         7.1  Discontinuance of Deductions; Leave of Absence; Transfer to Ineligible Status..........9
         7.2  In-Service Withdrawals.................................................................9
         7.3  Termination of Employment for Reasons Other Than Death.................................10
         7.4  Death..................................................................................10
         7.5  Registration...........................................................................10

ARTICLE VIII - AMENDMENT AND TERMINATION.............................................................10

         8.1  Amendment..............................................................................10
         8.2  Termination............................................................................11

ARTICLE IX - MISCELLANEOUS...........................................................................12

         9.1  Shareholder Approval...................................................................12
         9.1  Employment Rights......................................................................12
         9.2  Tax Withholding........................................................................12
         9.3  Rights Not Transferable................................................................12
         9.4  No Repurchase of Stock by Corporation..................................................12
         9.5  Governing Law..........................................................................12
         9.6  Shareholder Approval; Registration.....................................................12
</TABLE>

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                              IXL ENTERPRISES, INC.
                        2000 EMPLOYEE STOCK PURCHASE PLAN

                                    ARTICLE I
                                   BACKGROUND

         1.1 ESTABLISHMENT OF THE PLAN. iXL Enterprises, Inc. (the
"Corporation") hereby establishes a stock purchase plan to be known as the "iXL
Enterprises, Inc. 2000 Employee Stock Purchase Plan" (the "Plan"), as set forth
in this document. The Plan is intended to be a qualified employee stock purchase
plan within the meaning of Section 423 of the Internal Revenue Code of 1986, as
amended, and the regulations and rulings thereunder.

         1.2 APPLICABILITY OF THE PLAN. The provisions of this Plan are
applicable only to certain individuals who, on or after March 1, 2000, are
employees of the Corporation and its subsidiaries participating in the Plan. The
Committee shall indicate from time to time which of its subsidiaries, if any,
are participating in the Plan.

         1.3 PURPOSE. The purpose of the Plan is to enhance the proprietary
interest among the employees of the Corporation and its participating
subsidiaries through ownership of Common Stock of the Corporation.

                                   ARTICLE II
                                   DEFINITIONS

         Whenever capitalized in this document, the following terms shall have
the respective meanings set forth below.

         2.1 ADMINISTRATOR. Administrator shall mean the person or persons (who
may be officers or employees of the Corporation) selected by the Committee to
operate the Plan, perform day-to-day administration of the Plan, and maintain
records of the Plan.

         2.2 BOARD. Board shall mean the Board of Directors of the Corporation.

         2.3 CODE. Code shall mean the Internal Revenue Code of 1986, as amended
from time to time, and the regulations thereunder.

         2.4 COMMITTEE. Committee shall mean a committee which consists of
members of the Board and which has been designated by the Board to have the
general responsibility for the administration of the Plan. Unless otherwise
designated by the Board, the Compensation Committee of the Board of Directors of
the Corporation shall serve as the Committee administering the Plan. Subject to
the express provisions of the

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Plan, the Committee shall have plenary authority in its sole and absolute
discretion to interpret and construe any and all provisions of the Plan, to
adopt rules and regulations for administering the Plan, and to make all other
determinations necessary or advisable for administering the Plan. The
Committee's determinations on the foregoing matters shall be conclusive and
binding upon all persons.

         2.5 COMMON STOCK. Common Stock shall mean the common stock, par value
$.01, of the Corporation.

         2.6 COMPENSATION. Compensation shall mean, for any Participant, for any
Offering Period, the Participant's gross wages for the respective period,
subject to appropriate adjustments that would exclude items such as non-cash
compensation and reimbursement of moving, travel, trade or business expenses.

         2.7 CONTRIBUTION ACCOUNT. Contribution Account shall mean the
bookkeeping account established by the Administrator on behalf of each
Participant, which shall be credited with the amounts deducted from the
Participant's Compensation pursuant to Article VI. The Administrator shall
establish a separate Contribution Account for each Participant for each Offering
Period.

         2.8 CORPORATION. Corporation shall mean iXL Enterprises, Inc., a
Delaware corporation.

         2.9 DIRECT REGISTRATION SYSTEM. Direct Registration System shall mean a
direct registration system approved by the Securities and Exchange Commission
and by the New York Stock Exchange, Inc. or any securities exchange on which the
Common Stock is then listed, whereby shares of Common Stock may be registered in
the holder's name in book-entry form on the books of the Corporation.

         2.10 EFFECTIVE DATE. Effective Date shall mean the effective date of
the Plan, which shall be the later of July 1, 2000 or the effective date of the
Corporation's registration statement on Form S-8 filed under the Securities Act
of 1933, as amended, covering the shares to be issued under the Plan.

         2.11 ELIGIBLE EMPLOYEE. An Employee eligible to participate in the Plan
pursuant to Section 3.1.

         2.12 EMPLOYEE. Employee shall mean an individual employed by an
Employer who meets the employment relationship described in Treasury Regulation
Sections 1.423-2(b) and Section 1.421-7(h).

         2.13 EMPLOYER. Employer shall mean the Corporation and any Subsidiary
designated by the Committee as an employer participating in the Plan.

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         2.14 FAIR MARKET VALUE. Fair Market Value of a share of Common Stock,
as of any designated date, shall mean the closing sales price of the Common
Stock on the Nasdaq National Market on such date or on the last previous date on
which such stock was traded.

         2.15 OFFERING DATE. Offering Date shall mean the first Trading Date of
each Offering Period.

         2.16 OFFERING PERIOD. Offering Period shall mean the quarterly periods
beginning January 1, April 1, July 1 and October 1, respectively, of each year
during which offers to purchase Common Stock are outstanding under the Plan;
provided, however, that the initial Offering Period shall be the period
beginning on the Effective Date and ending on September 30, 2000. No payroll
deductions shall be taken until the Effective Date.

         2.17 OPTION. Option shall mean the option to purchase Common Stock
granted under the Plan on each Offering Date.

         2.18 PARTICIPANT. Participant shall mean any Eligible Employee who has
elected to participate in the Plan under Section 3.2.

         2.19 PLAN. Plan shall mean the iXL Enterprises, Inc. 2000 Employee
Stock Purchase Plan, as amended and in effect from time to time.

         2.20 PURCHASE DATE. Purchase Date shall mean the last Trading Date of
each Offering Period.

         2.21 PURCHASE PRICE. Purchase Price shall mean the purchase price of
Common Stock determined under Section 5.1.

         2.22 REQUEST FORM. Request Form shall mean an Employee's authorization
either in writing on a form approved by the Administrator or through electronic
communication approved by the Administrator which specifies the Employee's
payroll deduction in accordance with Section 6.2, and contains such other terms
and provisions as may be required by the Administrator.

         2.23 STOCK ACCOUNT. Stock Account shall mean the account established by
the Administrator on behalf of each Participant, which shall be credited with
shares of Common Stock purchased pursuant to the Plan and dividends thereon
until distributed in accordance with the terms of the Plan.

         2.24 SUBSIDIARY. Subsidiary shall mean any present or future
corporation which is a "subsidiary corporation" of the Corporation as defined in
Code Section 424(f).

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         2.25 TRADING DATE. Trading Date shall mean a date on which shares of
Common Stock are traded on a national securities exchange (such as the New York
Stock Exchange), the Nasdaq National Market or in the over-the-counter market.

         Except when otherwise indicated by the context, the definition of any
term herein in the singular may also include the plural.

                                   ARTICLE III
                          ELIGIBILITY AND PARTICIPATION

         3.1 ELIGIBILITY. Each Employee who is an Employee regularly scheduled
to work at least 20 hours each week and at least five months each calendar year
shall be eligible to participate in the Plan as of the later of:

         (a) the Offering Date immediately following the Employee's last date
             of hire by an Employer; or

         (b) the Effective Date.

         On each Offering Date, Options will automatically be granted to all
Employees then eligible to participate in the Plan; provided, however, that no
Employee shall be granted an Option for an Offering Period if, immediately after
the grant, the Employee would own stock, and/or hold outstanding options to
purchase stock, possessing five percent or more of the total combined voting
power or value of all classes of stock of the Corporation or any Subsidiary. For
purposes of this Section, the attribution rules of Code Section 424(d) shall
apply in determining stock ownership of any Employee. If an Employee is granted
an Option for an Offering Period and such Employee does not participate in the
Plan for such Offering Period, such Option will be deemed never to have been
granted for purposes of applying the $25,000 annual limitation described in
Section 5.2.

         3.2 INITIAL PARTICIPATION. An Eligible Employee having been granted an
Option under Section 3.1 may submit a Request Form to the Administrator to
participate in the Plan for an Offering Period. The Request Form shall authorize
a regular payroll deduction from the Employee's Compensation for the Offering
Period, subject to the limits and procedures described in Article VI. A
Participant's Request Form authorizing a regular payroll deduction shall remain
effective from Offering Period to Offering Period until amended or canceled
under Section 6.3.

         3.3 LEAVE OF ABSENCE. For purposes of Section 3.1, an individual on a
leave of absence from an Employer shall be deemed to be an Employee for the
first 90 days of such leave. For purposes of this Plan, such individual's
employment with the Employer shall be deemed to terminate at the close of
business on the 90th day of the leave, unless the individual has returned to
regular employment with an Employer before the close of business on such 90th
day. Termination of any individual's leave of absence by an

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Employer, other than on account of a return to employment with an Employer,
shall be deemed to terminate an individual's employment with the Employer for
all purposes of the Plan.

                                   ARTICLE IV
                                 STOCK AVAILABLE

         4.1 IN GENERAL. Subject to the adjustments in Sections 4.2 and 4.3, an
aggregate of 1,500,000 shares of Common Stock shall be available for purchase by
Participants pursuant to the provisions of the Plan. These shares may be
authorized and unissued shares or may be shares issued and subsequently acquired
by the Corporation. If an Option under the Plan expires or terminates for any
reason without having been exercised in whole or part, the shares subject to
such Option that are not purchased shall again be available for subsequent
Option grants under the Plan. If the total number of shares of Common Stock for
which Options are exercised on any Purchase Date exceeds the maximum number of
shares then available under the Plan, the Committee shall make a pro rata
allocation of the shares available in as nearly a uniform manner as shall be
practicable and as it shall determine to be equitable; and the balance of the
cash credited to Participants' Contribution Accounts shall be distributed to the
Participants as soon as practicable.

         4.2 ADJUSTMENT IN EVENT OF CHANGES IN CAPITALIZATION. In the event of a
stock dividend, stock split or combination of shares, recapitalization or other
change in the Corporation's capitalization, or other distribution with respect
to holders of the Corporation's Common Stock other than normal cash dividends,
an automatic adjustment shall be made in the number and kind of shares as to
which outstanding Options or portions thereof then unexercised shall be
exercisable and in the available shares set forth in Section 4.1, so that the
proportionate interest of the Participants shall be maintained as before the
occurrence of such event. This adjustment in outstanding Options shall be made
without change in the total price applicable to the unexercised portion of such
Options and with a corresponding adjustment in the Purchase Price per share;
provided, however, that in no event shall any adjustment be made that would
cause any Option to fail to qualify as an option pursuant to an employee stock
purchase plan within the meaning of Section 423 of the Code.

         4.3 DISSOLUTION, LIQUIDATION, OR MERGER. Upon the dissolution or
liquidation of the Corporation, or upon a reorganization, merger, or
consolidation of the Corporation with one or more corporations in which the
Corporation is not the surviving corporation, or upon a sale of substantially
all of the property or stock of the Corporation to another corporation, the
holder of each Option then outstanding under the Plan shall be entitled to
receive at the next Purchase Date upon the exercise of such Option for each
share as to which such Option shall be exercised, as nearly as reasonably may be
determined, the cash, securities, or property which a holder of one share of the
Common Stock was entitled to receive upon and at the time of such transaction.
The Committee shall take such steps in connection with these transactions as the
Committee deems

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necessary or appropriate to assure that the provisions of this Section shall
thereafter be applicable, as nearly as reasonably may be determined, in relation
to the cash, securities, or property which the holder of the Option may
thereafter be entitled to receive. In lieu of the foregoing, the Committee may
terminate the Plan in accordance with Section 8.2.

                                    ARTICLE V
                                OPTION PROVISIONS

         5.1 PURCHASE PRICE. The Purchase Price of a share of Common Stock
purchased for a Participant pursuant to each exercise of an Option shall be the
lesser of:

         (a) 85 percent of the Fair Market Value of a share of Common Stock
on the Offering Date; or

         (b) 85 percent of the Fair Market Value of a share of Common Stock
on the Purchase Date.

         5.2 CALENDAR YEAR $25,000 LIMIT. Notwithstanding anything else
contained herein, no Employee may be granted an Option for any Offering Period
which permits such Employee's rights to purchase Common Stock under this Plan
and any other qualified employee stock purchase plan (within the meaning of Code
Section 423) of the Corporation and its Subsidiaries to accrue at a rate which
exceeds $25,000 of Fair Market Value of such Common Stock for each calendar year
in which an Option is outstanding at any time. For purposes of this Section,
Fair Market Value shall be determined as of the Offering Date.

         5.3 OFFERING PERIOD LIMIT. Notwithstanding anything else contained
herein, the maximum number of shares of Common Stock that an Eligible Employee
may purchase in any Offering Period is 750 shares.

                                   ARTICLE VI
                             PURCHASING COMMON STOCK

         6.1 PARTICIPANT'S CONTRIBUTION ACCOUNT. The Administrator shall
establish a book account in the name of each Participant for each Offering
Period. As discussed in Section 6.2 below, a Participant's payroll deductions
shall be credited to the Participant's Contribution Account, without interest,
until such cash is withdrawn, distributed, or used to purchase Common Stock as
described below.

         During such time, if any, as the Corporation participates in a Direct
Registration System, shares of Common Stock acquired upon exercise of an Option
shall be directly registered in the name of the Participant. If the Corporation
does not participate in a Direct Registration System, then until distribution is
requested by a Participant pursuant to Article VII, stock certificates
evidencing the Participant's shares of Common Stock acquired upon exercise of an
Option shall be held by the Corporation as the nominee for

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the Participant. These shares shall be credited to the Participant's Stock
Account. Certificates shall be held by the Corporation as nominee for
Participants solely as a matter of convenience. A Participant shall have all
ownership rights as to the shares credited to his or her Stock Account, and the
Corporation shall have no ownership or other rights of any kind with respect to
any such certificates or the shares represented thereby.

         All cash received or held by the Corporation under the Plan may be used
by the Corporation for any corporate purpose. The Corporation shall not be
obligated to segregate any assets held under the Plan.

         6.2 PAYROLL DEDUCTIONS; DIVIDENDS.

         (a) Payroll Deductions. By submitting a Request Form at any time before
an Offering Period in accordance with rules adopted by the Committee, an
Eligible Employee may authorize a payroll deduction to purchase Common Stock
under the Plan for the Offering Period. The payroll deduction shall be effective
on the first pay period during the Offering Period commencing after receipt of
the Request Form by the Administrator. The payroll deduction shall be in any
whole percentage up to a maximum of ten percent (10%) of such Employee's
Compensation payable each pay period, and at any other time an element of
Compensation is payable. A Participant's payroll deduction shall not be less
than two percent (2%) of such Employee's Compensation payable each payroll
period.

         (b) Dividends. Cash dividends paid on Common Stock which is credited to
a Participant's Stock Account as of the dividend payment date shall be credited
to the Participant's Stock Account and paid to the Participant as soon as
practicable.

         6.3 DISCONTINUANCE. A Participant may discontinue his or her payroll
deductions for an Offering Period by filing a new Request Form with the
Administrator. This discontinuance shall be effective on the first pay period
commencing at least 30 days after receipt of the Request Form by the
Administrator. A Participant who discontinues his or her payroll deductions for
an Offering Period may not resume participation in the Plan until the following
Offering Period.

         Any amount held in the Participant's Contribution Account for an
Offering Period after the effective date of the discontinuance of his or her
payroll deductions will either be refunded or used to purchase Common Stock in
accordance with Section 7.1.

         6.4 LEAVE OF ABSENCE; TRANSFER TO INELIGIBLE STATUS. If a Participant
either begins a leave of absence, is transferred to employment with a Subsidiary
not participating in the Plan, or remains employed with an Employer but is no
longer eligible to participate in the Plan, the Participant shall cease to be
eligible for payroll deductions to his or her Contribution Account pursuant to
Section 6.2. The cash standing to the

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credit of the Participant's Contribution Account shall become subject to the
provisions of Section 7.1.

         If the Participant returns from the leave of absence before being
deemed to have ceased employment with the Employer under Section 3.3, or again
becomes eligible to participate in the Plan, the Request Form, if any, in effect
immediately before the leave of absence or disqualifying change in employment
status shall be deemed void and the Participant must again complete a new
Request Form to resume participation in the Plan.

         6.5 AUTOMATIC EXERCISE. Unless the cash credited to a Participant's
Contribution Account is withdrawn or distributed as provided in Article VII, his
or her Option shall be deemed to have been exercised automatically on each
Purchase Date, for the purchase of the number of full shares of Common Stock
which the cash credited to his or her Contribution Account at that time will
purchase at the Purchase Price. If there is a cash balance remaining in the
Participant's Contribution Account at the end of an Offering Period representing
the exercise price for a fractional share of Common Stock, such balance may be
retained in the Participant's Contribution Account for the next Offering Period,
unless the Participant requests that it be refunded, without interest. Any other
cash balance remaining in the Participant's Contribution Account at the end of
an Offering Period shall be refunded to the Participant, without interest. The
amount of cash that may be used to purchase shares of Common Stock may not
exceed the Compensation restrictions set forth in Section 6.2.

         Except as provided in the preceding paragraph, if the cash credited to
a Participant's Contribution Account on the Purchase Date exceeds the applicable
Compensation restrictions of Section 6.2 or exceeds the amount necessary to
purchase the maximum number of shares of Common Stock available during the
Offering Period, such excess cash shall be refunded to the Participant. Except
as provided in the preceding paragraph, the excess cash may not be used to
purchase shares of Common Stock nor retained in the Participant's Contribution
Account for a future Offering Period.

         Each Participant shall receive a statement on an annual basis
indicating the number of shares credited to his or her Stock Account, if any,
under the Plan.

         6.6 LISTING, REGISTRATION, AND QUALIFICATION OF SHARES. The granting of
Options for, and the sale and delivery of, Common Stock under the Plan shall be
subject to the effecting by the Corporation of any listing, registration, or
qualification of the shares subject to that Option upon any securities exchange
or under any federal or state law, or the obtaining of the consent or approval
of any governmental regulatory body deemed necessary or desirable for the
issuance or purchase of the shares covered.

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                                   ARTICLE VII
                           WITHDRAWALS; DISTRIBUTIONS

         7.1 DISCONTINUANCE OF DEDUCTIONS; LEAVE OF ABSENCE; TRANSFER TO
INELIGIBLE STATUS. In the event of a Participant's complete discontinuance of
payroll deductions under Section 6.3 or a Participant's leave of absence or
transfer to an ineligible status under Section 6.4, the cash balance then
standing to the credit of the Participant's Contribution Account shall be--

         (a) returned to the Participant, in cash, without interest, as soon as
practicable, upon the Participant's written request received by the
Administrator at least 30 days before the next Purchase Date; or

         (b) held under the Plan and used to purchase Common Stock for the
Participant under the automatic exercise provisions of Section 6.5.

         7.2 IN-SERVICE WITHDRAWALS. During such time, if any, as the
Corporation participates in a Direct Registration System, shares of Common Stock
acquired upon exercise of an Option shall be directly registered in the name of
the Participant and the Participant may withdraw certificates in accordance with
the applicable terms and conditions of such Direct Registration System. If the
Corporation does not participate in a Direct Registration System, (i) a
Participant may, while an Employee of the Corporation or any Subsidiary,
withdraw certificates for some or all of the shares of Common Stock credited to
his or her Stock Account at any time, upon 30 days' written notice to the
Administrator, and (ii) each Participant shall be permitted only one withdrawal
under this Section during each Offering Period. If a Participant requests a
distribution of only a portion of the shares of Common Stock credited to his or
her Stock Account, the Administrator will distribute the oldest securities held
in the Participant's Stock Account first, using a first in-first out
methodology. The Administrator may at any time distribute certificates for some
or all of the shares of Common Stock credited to a Participant's Stock Account,
whether or not the Participant so requests.

         7.3 TERMINATION OF EMPLOYMENT FOR REASONS OTHER THAN DEATH. If a
Participant terminates employment with the Corporation and the Subsidiaries for
reasons other than death, the cash balance in the Participant's Contribution
Account shall be returned to the Participant in cash, without interest, as soon
as practicable. Certificates for the shares of Common Stock credited to his or
her Stock Account shall be distributed to the Participant as soon as
practicable, unless the Corporation then participates in a Direct Registration
System, in which case, the Participant shall be entitled to evidence of
ownership of such shares in such form as the terms and conditions of such Direct
Registration System permit.

         7.4 DEATH. In the event a Participant dies, the cash balance in his or
her Contribution Account shall be distributed to the Participant's estate, in
cash, without interest, as soon as practicable. Certificates for the shares of
Common Stock credited to the Participant's Stock Account shall be distributed to
the estate as soon as practicable, unless the Corporation then participates in a
Direct Registration System, in which case,

                                       -9-
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the estate shall be entitled to evidence of ownership of such shares in such
form as the terms and conditions of such Direct Registration System permit.

         7.5 REGISTRATION. Whether represented in certificate form or by direct
registration pursuant to a Direct Registration System, shares of Common Stock
acquired upon exercise of an Option shall be directly registered in the name of
the Participant or, if the Participant so indicates on the Request Form, (a) in
the Participant's name jointly with a member of the Participant's family, with
the right of survivorship, (b) in the name of a custodian for the Participant
(in the event the Participant is under a legal disability to have stock issued
in the Participant's name), or (c) in a manner giving effect to the status of
such shares as community property. No other names may be included in the Common
Stock registration. The Corporation shall pay all issue or transfer taxes with
respect to the issuance or transfer of shares of such Common Stock, as well as
all fees and expenses necessarily incurred by the Corporation in connection with
such issuance or transfer.

                                  ARTICLE VIII
                            AMENDMENT AND TERMINATION

         8.1 AMENDMENT. The Committee shall have the right to amend or modify
the Plan, in full or in part, at any time and from time to time; provided,
however, that no amendment or modification shall:

         (a) affect any right or obligation with respect to any grant previously
made, unless required by law, or

         (b) unless previously approved by the stockholders of the Corporation,
where such approval is necessary to satisfy federal securities laws, the Code,
or rules of any stock exchange on which the Corporation's Common Stock is
listed:

             (1) in any manner materially affect the eligibility requirements
         set forth in Sections 3.1 and 3.3, or change the definition of Employer
         as set forth in Section 2.13,

             (2) increase the number of shares of Common Stock subject to
         any options issued to Participants (except as provided in Sections 4.2
         and 4.3), or

             (3) materially increase the benefits to Participants under the
         Plan.

         8.2 TERMINATION. The Committee may terminate the Plan at any time in
its sole and absolute discretion. The Plan shall be terminated by the Committee
if at any time the number of shares of Common Stock authorized for purposes of
the Plan is not sufficient to meet all purchase requirements, except as
specified in Section 4.1.

         Upon termination of the Plan, the Administrator shall give notice
thereof to Participants and shall terminate all payroll deductions. Cash
balances then credited to

                                      -10-
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Participants' Contribution Accounts shall be distributed as soon as practicable,
without interest.

                                      -11-
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                                   ARTICLE IX
                                  MISCELLANEOUS

         9.1 SHAREHOLDER APPROVAL. The Plan shall be approved and ratified by
the stockholders of the Corporation, not later than 12 months after adoption of
the Plan by the Board of Directors of the Corporation, pursuant to Treasury
regulation Section 1.423-2(c). If for any reason such approval is not given by
such date, the Plan shall be null and void, and all payroll deductions to the
Plan shall cease. The cash balances and Common Stock credited to Participants'
accounts shall be promptly distributed to them; and any Common Stock
certificates issued and delivered to Participants prior to such date shall
remain the property of the Participants.

         9.2 EMPLOYMENT RIGHTS. Neither the establishment of the Plan, nor the
grant of any Options thereunder, nor the exercise thereof shall be deemed to
give to any Employee the right to be retained in the employ of the Corporation
or any Subsidiary or to interfere with the right of the Corporation or any
Subsidiary to discharge any Employee or otherwise modify the employment
relationship at any time.

         9.3 TAX WITHHOLDING. The Administrator may make appropriate provisions
for withholding of federal, state, and local income taxes, and any other taxes,
from a Participant's Compensation to the extent the Administrator deems such
withholding to be legally required.

         9.4 RIGHTS NOT TRANSFERABLE. Rights and Options granted under this Plan
are not transferable by the Participant other than by will or by the laws of
descent and distribution and are exercisable only by the Participant during his
or her lifetime.

         9.5 NO REPURCHASE OF STOCK BY CORPORATION. The Corporation is under no
obligation to repurchase from any Participant any shares of Common Stock
acquired under the Plan.

         9.6 GOVERNING LAW. The Plan shall be governed by and construed in
accordance with the laws of the State of Delaware except to the extent such laws
are preempted by the laws of the United States.

         9.7 SHAREHOLDER APPROVAL; REGISTRATION. The Plan was adopted by the
Board of Directors of the Corporation on February 23, 2000 to be effective as of
the Effective Date, provided that no payroll deductions may begin until a
registration statement on Form S-8 filed under the Securities Act of 1933, as
amended, covering the shares to be issued under the Plan, has become effective.
The Plan is subject to approval by the stockholders of the Corporation within 12
months of approval by the Board of Directors.

                           * * * * * * * * * * * * * *

                                      -12-
<PAGE>   16

         The foregoing is hereby acknowledged as being the iXL Enterprises, Inc.
2000 Employee Stock Purchase Plan as adopted by the Board of Directors of the
Corporation on February 23, 2000.

                                    iXL ENTERPRISES, INC.

                                    By: /s/ Mark Steele
                                        ----------------------------------------
                                   Its: Senior Vice President-Finance
                                        ---------------------------------------

                                      -13-<PAGE>   1
                                                                     EXHIBIT 4.2

                         INCORPORATED UNDER THE LAWS OF
                              THE STATE OF GEORGIA

                                                         CUSIP # 92923K106

                                   WGNB CORP.

THIS CERTIFIES THAT
_____________________________________________________________________ IS THE
OWNER OF
________________________________________________________________________________
FULLY PAID AND NON-ASSESSABLE SHARES OF THE CAPITAL STOCK OF THE ABOVE NAMED
CORPORATION TRANSFERABLE ONLY ON THE BOOKS OF THE CORPORATION BY THE HOLDER
HEREOF IN PERSON OR BY DULY AUTHORIZED ATTORNEY UPON SURRENDER OF THIS
CERTIFICATE PROPERLY ENDORSED.

IN WITNESS HEREOF, THE SAID CORPORATION HAS CAUSED THIS CERTIFICATE TO BE SIGNED
BY ITS DULY AUTHORIZED OFFICERS AND ITS CORPORATE SEAL TO BE HEREUNTO AFFIXED
THIS ________________ DAY OF ___________________ A.D.

                                     ___________________________________________

                                     ___________________________________________
                                     SECRETARY/TREASURER
PRESIDENT

<PAGE>   2

                          EXPLANATION OF ABBREVIATIONS

         The following abbreviations, when used in the description of ownership
on the face of this certificate, shall be construed as if they were written out
in full according to applicable laws or regulations. Abbreviations, in addition
to those appearing below, may be used.

<PAGE>   3

JT TEN            As joint tenants with right of survivorship and not as tenants
                  in common

TEN COM           As tenants in common

TEN ENT           As tenants by the entireties

UNIF GIFT MIN ACT Uniform Gifts to Minor Act

CUST              Custodian for

For value received, _____________ hereby sell, assign and transfer unto
_______________________________________________________________________
Shares represented by the within Certificate and do hereby irrevocably
constitute and appoint __________________________________ Attorney to transfer
the said Shares on the books of the within named Corporation with full power of
substitution in the premises.

Dated ___________________________

In presence of:

________________________________    ________________________________

This certificate also evidences and entitles the holder hereof to certain Rights
as set forth in the Rights Agreement between WGNB Corp. (the "Company") and
SunTrust Bank, Atlanta (the "Rights Agent") dated as of February 12, 1997 (the
"Rights Agreement"), the terms of which are hereby incorporated herein by
reference and a copy of which is on file at the principal offices of the
Company. Under certain circumstances, as set forth in the Rights Agreement, such
Rights will be evidenced by separate certificates and will no longer be
evidenced by this certificate. The Company will mail to the holder of this
certificate a copy of the Rights Agreement as in effect on the date of mailing,
without charge promptly after receipt of a written request therefor. Under
certain circumstances set forth in the Rights Agreement, Rights issued to, or
held by, any Person who is, was or becomes and Acquiring Person, or any
Affiliate or Associate thereof, (as such terms are defined in the Rights
Agreement), whether currently held by or on behalf of such Person or by any
subsequent holder, may become null and void.

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