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                                                                    EXHIBIT 10.3

                          MYCOM GROUP, INC. STOCK PLAN

SECTION 1.        INTRODUCTION

         1.1 Establishment. Effective as provided in Section 17, Mycom Group,
Inc., a Nevada corporation (the "Company"), hereby establishes this plan of
stock-based compensation incentives for selected Eligible Participants of the
Company and its affiliated corporations. This Plan shall be known as the Mycom
Group, Inc. Stock Plan (the "Plan").

         1.2 Purpose. The purpose of this Plan is to promote the best interest
of the Company, and its stockholders by providing a means of non-cash
remuneration to selected Eligible Participants who contribute most to the
operating progress and earning power of the Company.

SECTION 2. DEFINITIONS

         The following definitions shall be applicable to the terms used in this
Plan:

         2.1 "Affiliated Corporation" means any corporation that is either a
parent corporation with respect to the Company or a subsidiary corporation with
respect to the Company (within the meaning of Sections 424(e) and (f),
respectively, of the Internal Revenue Code).

         2.2 "Code" means the Internal Revenue Code of 1986, as it may be
amended from time to time.

         2.3 "Committee" means a committee designated by the Board of Directors
to administer this Plan or, if no committee is so designated, the Board of
Directors. Any Committee member who is also an Eligible Participant may receive
an Option or Stock Award only if he abstains from voting in favor of a grant to
himself, and the grant is determined and approved by the remaining Committee
members. The Board of Directors, in its sole discretion, may at any time remove
any member of the Committee and appoint another Director to fill any vacancy on
the Committee.

         2.4 "Common Stock" means the Company's $0.01 par value common stock.

         2.5 "Company" means Mycom Group, Inc., a Nevada corporation.

         2.6 "Effective Date" means the effective date of this Plan, as set
forth in Section 17 hereof.

         2.7 "Eligible Participant" means any employee, director, officer,
consultant, or advisor of the Company who is determined (in accordance with the
provisions of Section 4 hereof) to be eligible to receive an Option or Stock
Award hereunder.

         2.8 "Option" means the grant to an Eligible Participant of a right to
acquire shares of Common Stock.

         2.9 "Plan" means this Mycom Group, Inc. Stock Plan, dated December 12,
2000.

         2.10 "Stock Award" means the grant to an Eligible Participant of shares
of Common Stock issuable directly under this Plan rather than upon exercise of
an Option.

         Wherever appropriate, words used in this Plan in the singular may mean
the plural, the plural may mean the singular, and the masculine may mean the
feminine.

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Stock Plan                                                         Page 1 of 6
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SECTION 3. ADOPTION AND ADMINISTRATION OF THIS PLAN

         Upon adoption by the Company's Board of Directors, this Plan became
effective as of December 12, 2000. In the absence of contrary action by the
Board of Directors, and except for action taken by the Committee pursuant to
Section 4 in connection with the determination of Eligible Participants, any
action taken by the Committee or by the Board of Directors with respect to the
implementation, interpretation or administration of this Plan shall be final,
conclusive and binding.

SECTION 4. ELIGIBILITY AND AWARDS

         The Committee shall determine at any time and from time to time after
the effective date of this Plan: (i) the Eligible Participants; (ii) the number
of shares of Common Stock issuable directly or to be granted pursuant to an
Option; (iii) the price per share at which each Option may be exercised, in cash
or cancellation of fees for services for which the Company is liable, if
applicable, or the value per share if a direct issue of stock pursuant to a
Stock Award; and (iv) the terms on which each Option may be granted. Such
determination, as may from time to time be amended or altered at the sole
discretion of the Committee. Notwithstanding the provisions of Section 3 hereof,
no such determination by the Committee shall be final, conclusive and binding
upon the Company unless and until the Board of Directors has approved the same;
provided, however, that if the Committee is composed of a majority of the
persons then comprising the Board of Directors of the Company, such approval by
the Board of Directors shall not be necessary.

SECTION 5. GRANT OF OPTION OR STOCK AWARD

         Subject to the terms and provisions of this Plan, the terms and
conditions under which an Option or Stock Award may be granted to an Eligible
Participant shall be set forth in a written agreement (i.e., a Consulting
Agreement, Services Agreement, Fee Agreement, or Employment Agreement) or, if an
Option, a written Grant of Option in the form attached hereto as Exhibit A
(which may contain such modifications thereto and such other provisions as the
Committee, in its sole discretion, may determine).

SECTION 6. TOTAL NUMBER OF SHARES OF COMMON STOCK

         The total number of shares of Common Stock reserved for issuance by the
Company either directly as Stock Awards or underlying Options granted under this
Plan shall not be more than 5,000,000. The total number of shares of Common
Stock reserved for such issuance may be increased only by a resolution adopted
by the Board of Directors and amendment of this Plan. Such Common Stock may be
authorized and unissued or reacquired Common Stock of the Company.

SECTION 7. PURCHASE OF SHARES OF COMMON STOCK

         7.1 As soon as practicable after the determination by the Committee and
approval by the Board of Directors (if necessary, pursuant to Section 4 hereof)
of the Eligible Participants and the number of shares an Eligible Participant
may be issued directly as a Stock Award or eligible to purchase pursuant to an
Option, the Committee shall give written notice thereof to each Eligible
Participant, which notice may be accompanied by the Grant of Option, if
appropriate, to be executed by such Eligible Participant.

         7.2 The negotiated cost basis of stock issued directly as a Stock Award
or the exercise price for each Option to purchase shares of Common Stock
pursuant to paragraph 7.1 shall be as determined by the Committee, it being
understood that the price so determined by the Committee may vary from one
Eligible Participant to another. In computing the negotiated direct issue price
as a Stock Award or the Option exercise price per share of Common Stock, the
Committee shall take into consideration, among other factors, the restrictions
set forth in Section 11 hereof.

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Stock Plan                                                         Page 2 of 6
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SECTION 8. TERMS AND CONDITIONS OF OPTIONS

         The Committee shall determine the terms and conditions of each Option
granted to Eligible Participants, which terms shall be set forth in writing. The
terms and conditions so set by the Committee may vary from one Eligible
Participant to another. In the event that all the Committee approves an Option
permitting deferred payments, the Eligible Participant's obligation to pay for
such Common Stock may be evidenced by a promissory note executed by such
Eligible Participant and containing such modifications thereto and such other
provisions as the Committee, in its sole discretion, may determine.

SECTION 9. DELIVERY OF SHARES OF COMMON STOCK UPON EXERCISE OF OPTION

         The Company shall deliver to each Eligible Participant such number of
shares of Common Stock as such Eligible Participant is entitled to receive
pursuant to a Stock Award or elects to purchase upon exercise of the Option.
Such shares, which shall be fully paid and nonassessable upon the issuance
thereof (unless a portion or all of the purchase price shall be paid on a
deferred basis) shall be represented by a certificate or certificates registered
in the name of the Eligible Participant and stamped with an appropriate legend
referring to the restrictions thereon, if any. Subject to the terms and
provisions of the Nevada General Corporation Law and the written agreement to
which he is a party, an Eligible Participant shall have all the rights of a
stockholder with respect to such shares, including the right to vote the shares
and to receive all dividends or other distributions paid or made with respect
thereto (except to the extent such Eligible Participant defaults under a
promissory note, if any, evidencing the deferred purchase price for such
shares), provided that such shares shall be subject to the restrictions
hereinafter set forth. In the event of a merger or consolidation to which the
Company is a party, or of any other acquisition of a majority of the issued and
outstanding shares of Common Stock of the Company involving an exchange or a
substitution of stock of an acquiring corporation for Common Stock of the
Company, or of any transfer of all or substantially all of the assets of the
Company in exchange for stock of an acquiring corporation, a determination as to
whether the stock of the acquiring corporation so received shall be subject to
the restrictions set forth in Section 11 shall be made solely by the acquiring
corporation.

SECTION 10. RIGHTS OF EMPLOYEES; ELIGIBLE PARTICIPANTS

         10.1 Employment. Nothing contained in this Plan or in any Option or
Stock Award granted under this Plan shall confer upon any Eligible Participant
any right with respect to the continuation of his or her employment by the
Company or any Affiliated Corporation, or interfere in any way with the right of
the Company or any Affiliated Corporation, subject to the terms of any separate
employment agreement to the contrary, at any time to terminate such employment
or to increase or decrease the compensation of the Eligible Participant from the
rate in existence at the time of the grant of an Option or Stock Award. Whether
an authorized leave of absence, or absence in military or government service,
shall constitute termination of employment shall be determined by the Committee
at the time.

         10.2 Non-transferability. No right or interest of any Eligible
Participant in an Option or Stock Award shall be assignable or transferable
during the lifetime of the Eligible Participant, either voluntarily or
involuntarily, or subjected to any lien, directly or indirectly, by operation of
law, or otherwise, including execution, levy, garnishment, attachment, pledge or
bankruptcy. However, the Board of Directors may, in its sole discretion, permit
transfers to family members if and to the extent such transfers are permissible
under applicable securities laws. In the event of an Eligible Participant's
death, an Eligible Participant's rights and interest in an Option or Stock Award
shall be transferable by testamentary will or the laws of descent and
distribution, and delivery of any shares of Common Stock due under this Plan
shall be made to, and exercise of any Options may be made by, the Eligible
Participant's legal representatives, heirs or legatees. If in the opinion of the
Committee a person entitled to payments or to exercise rights with respect to
this Plan is unable to care for his or her affairs because of mental condition,
physical condition, or age, payment due such person may be made to, and such
rights shall be exercised by, such person's guardian, conservator or other legal
personal representative upon furnishing the Committee with evidence satisfactory
to the Committee of such status.

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Stock Plan                                                         Page 3 of 6
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SECTION 11. GENERAL RESTRICTIONS

         11.1 Investment Representations. The Company may require any person to
whom an Option or Stock Award is granted, as a condition of exercising such
Option, or receiving such Stock Award, to give written assurances in substance
and form satisfactory to the Company and its counsel to the effect that such
person is acquiring the Common Stock subject to the Option or Stock Award for
his or her own account for investment and not with any present intention of
selling or otherwise distributing the same, and to such other effects as the
Company deems necessary or appropriate in order to comply with federal and
applicable state securities laws.

         11.2 Restrictions on Transfer of Common Stock. The shares of Common
Stock issuable directly as a Stock Award or upon exercise of an Option may not
be offered for sale, sold or otherwise transferred except pursuant to an
effective registration statement or pursuant to an exemption from registration,
the availability of which is to be established to the satisfaction of the
Company, and any certificates representing shares of Common Stock will bear a
legend to that effect. However, the Company may, in the sole discretion of the
Board of Directors, register with the Securities and Exchange Commission some or
all of the shares of Common Stock reserved for issuance under this Plan. Special
resale restrictions may, however, continue to apply to officers, directors,
control shareholders and affiliates of the Company and such persons will be
required to obtain an opinion of counsel as regards their ability to resell
shares received pursuant to this Plan.

         11.3 Compliance with Securities Laws. Each Option or Stock Award shall
be subject to the requirement that if at any time counsel to the Company shall
determine that the listing, registration or qualification of the shares of
Common Stock subject to such Option or Stock Award upon any securities exchange
or under any state or federal law, or the consent or approval of any
governmental or regulatory body, is necessary as a condition of, or in
connection with, the issuance or purchase of shares thereunder, such Option or
Stock Award may not be accepted or exercised in whole or in part unless such
listing, registration, qualification, consent or approval shall have been
effected or obtained on conditions acceptable to the Committee. Nothing herein
shall be deemed to require the Company to apply for or to obtain such listing,
registration or qualification.

         11.4 Changes in Accounting Rules. Notwithstanding any other provision
of this Plan to the contrary, if, during the term of this Plan, any changes in
the financial or tax accounting rules applicable to Options or Stock Awards
shall occur that, in the sole judgment of the Committee, may have a material
adverse effect on the reported earnings, assets or liabilities of the Company,
the Committee shall have the right and power to modify as necessary, or cancel,
any then outstanding and unexercised Options.

SECTION 12. COMPLIANCE WITH TAX REQUIREMENTS

         Each Eligible Participant shall be liable for payment of all applicable
federal, state and local income taxes incurred as a result of the receipt of a
Stock Award or an Option, the exercise of an Option, and the sale of any shares
of Common Stock received pursuant to a Stock Award or upon exercise of an
Option. The Company may be required, pursuant to applicable tax regulations, to
withhold taxes for an Eligible Participant, in which case the Company's
obligations to deliver shares of Common Stock upon the exercise of any Option
granted under this Plan or pursuant to any Stock Award, shall be subject to the
Eligible Participant's satisfaction of all applicable federal, state and local
income and other income tax withholding requirements.

SECTION 13. PLAN BINDING UPON ASSIGNS OR TRANSFEREES

         In the event that, at any time or from time to time, any Option or
Stock Award is assigned or transferred to any party (other than the Company)
pursuant to the provisions of Section 10.2 hereof, such party shall take such
Option or Stock Award pursuant to all provisions and conditions of this Plan,
and, as a condition precedent to the transfer of such interest, such party shall
agree (for and on behalf of himself or itself, his or its legal representatives
and his or its transferees and assigns) in writing to be bound by all provisions
of this Plan.

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Stock Plan                                                         Page 4 of 6
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SECTION 14. COSTS AND EXPENSES

         All costs and expenses with respect to the adoption, implementation,
interpretation and administration of this Plan shall be borne by the Company.

SECTION 15. CHANGES IN CAPITAL STRUCTURE OF THE COMPANY

         Appropriate adjustments shall be made to the number of shares of Common
Stock issuable pursuant to an incomplete or pending Stock Award that has not yet
been delivered or upon exercise of any Options and the exercise price thereof in
the event of: (i) a subdivision or combination of any of the shares of capital
stock of the Company; (ii) a dividend payable in shares of capital stock of the
Company; (iii) a reclassification of any shares of capital stock of the Company;
or (iv) any other change in the capital structure of the Company.

SECTION 16. PLAN AMENDMENT, MODIFICATION AND TERMINATION

         The Board, upon recommendation of the Committee or at its own
initiative, at any time may terminate and at any time and from time to time and
in any respect, may amend or modify this Plan, including:

                  (a) Increase the total amount of Common Stock that may be
         awarded under this Plan, except as provided in Section 15 of this Plan;

                  (b) Change the classes of persons from which Eligible
         Participants may be selected or materially modify the requirements as
         to eligibility for participation in this Plan;

                  (c) Increase the benefits accruing to Eligible Participants;
         or

                  (d) Extend the duration of this Plan.

         Any Option or other Stock Award granted to a Eligible Participant prior
to the date this Plan is amended, modified or terminated will remain in effect
according to its terms unless otherwise agreed upon by the Eligible Participant;
provided, however, that this sentence shall not impair the right of the
Committee to take whatever action it deems appropriate under Section 11 or
Section 15. The termination or any modification or amendment of this Plan shall
not, without the consent of a Eligible Participant, affect his rights under an
Option or other Stock Award previously granted to him.

SECTION 17. EFFECTIVE DATE OF THIS PLAN

         17.1 Effective Date. This Plan is effective as of December 12, 2000,
the date it was adopted by the Board of Directors of the Company.

         17.2 Duration of this Plan. This Plan shall terminate at midnight on
December 11, 2005, which is the day before the 5th anniversary of the Effective
Date, and may be extended thereafter or terminated prior thereto by action of
the Board of Directors; and no Option or Stock Award shall be granted after such
termination. Options and Stock Awards outstanding at the time of this Plan
termination may continue to be exercised, or become free of restrictions, in
accordance with their terms.

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Stock Plan                                                         Page 5 of 6
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SECTION 18. BURDEN AND BENEFIT

         The terms and provisions of this Plan shall be binding upon, and shall
inure to the benefit of, each Eligible Participant, his executives or
administrators, heirs, and personal and legal representatives.

         Dated as of the 12th day of December, 2000.

                                    MYCOM GROUP, INC.

                                    By:      /s/ George W. Young
                                       ----------------------------------------
                                       George W. Young, Chief Executive Officer

ATTEST:

/s/ Patricia A. Massey
-------------------------------
Patricia A. Massey, Secretary

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Stock Plan                                                         Page 6 of 6
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                                    EXHIBIT A

                                     FORM OF
                         GRANT OF OPTION PURSUANT TO THE
                          MYCOM GROUP, INC. STOCK PLAN

         Mycom Group, Inc., a Nevada corporation (the "Company"), hereby grants
to ________________________________ ("Optionee") an Option to purchase
___________ shares of common stock, $.0.01 par value (the "Shares") of the
Company at the purchase price of $______ per share (the "Purchase Price"), in
accordance with and subject to the terms and conditions of the Mycom Group, Inc.
Stock Plan (the "Plan"). This option is exercisable in whole or in part, and
upon payment in cash or cancellation of fees, or other form of payment
acceptable to the Company, to the principal office of the Company. This Grant of
Option supersedes and replaces any prior notice of option grant, description of
vesting terms or similar documents previously delivered to Optionee for options
granted on the date stated below.

         Unless otherwise set forth in a separate written agreement, in the
event that Optionee's employee or consultant status with the Company or any of
its subsidiaries ceases or terminates for any reason whatsoever, including, but
not limited to, death, disability, or voluntary or involuntary cessation or
termination, this Grant of Option shall terminate with respect to any portion of
this Grant of Option that has not vested prior to the date of cessation or
termination of employee or consultant status, as determined in the sole
discretion of the Company. In the event of termination for cause, this Grant of
Option shall immediately terminate in full with respect to any un-exercised
options, and any vested but un-exercised options shall immediately expire and
may not be exercised. Unless otherwise set forth in a separate written
agreement, vested options must be exercised within six months after the date of
termination (other than for cause), notwithstanding the Expiration Date set
forth below.

         Subject to the preceding paragraph, this Grant of Option, or any
portion hereof, may be exercised only to the extent vested per the attached
schedule, and must be exercised by Optionee no later than
____________________________ (the "Expiration Date") by (i) notice in writing,
signed by Optionee; and (ii) payment of the Purchase Price of a minimum of
$1,000 (unless the Purchase Price for the exercise of all vested options
available to be exercised totals less than $1,000) pursuant to the terms of this
Grant of Option and the Plan. Any portion of this Grant of Option that is not
exercised on or before the Expiration Date shall lapse. The notice must refer to
this Grant of Option, and it must specify the number of shares being purchased,
and recite the consideration being paid therefor. Notice shall be deemed given
on the date on which the notice is received by the Company.

         This Option shall be considered validly exercised once payment therefor
has cleared the banking system or the Company has issued a credit memo for
services in the appropriate amount, or receives a duly executed acceptable
promissory note, if the Option is granted with deferred payment, and the Company
has received written notice of such exercise. If payment is not received within
two business days after the date the notice is received, the Company may deem
the notice to be invalid.

         If Optionee fails to exercise this Option in accordance with this Grant
of Option, then this Grant of Option shall terminate and have no force and
effect, in which event the Company and Optionee shall have no liability to each
other with respect to this Grant of Option.

         This Option may be executed simultaneously in two or more counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

         The validity, construction and enforceability of this Grant of Option
shall be construed under and governed by the laws of the State of Nevada,
without regard to its rules concerning conflicts of laws, and any action brought
to enforce this Grant of Option or resolve any controversy, breach or
disagreement relative hereto shall be brought only in a court of competent
jurisdiction within the State of Nevada.

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Stock Plan                                                             Page A-1
<PAGE>   8

         The shares of common stock issuable upon exercise of the Option (the
"Underlying Shares") may not be sold, exchanged, assigned, transferred or
permitted to be transferred, whether voluntarily, involuntarily or by operation
of law, delivered, encumbered, discounted, pledged, hypothecated or otherwise
disposed of until (i) the Underlying Shares have been registered with the
Securities and Exchange Commission pursuant to an effective registration
statement on Form S-8, or such other form as may be appropriate, in the
discretion of the Company; or (ii) an Opinion of Counsel, satisfactory to the
Company, has been received, which opinion sets forth the basis and availability
of any exemption for resale or transfer from federal or state securities
registration requirements.

         This Grant of Option relates to options granted on________________,
_____.

                                        MYCOM GROUP, INC.

                                        BY THE BOARD OF DIRECTORS
                                        OR A SPECIAL COMMITTEE THEREOF

                                                NOT FOR EXECUTION

                                        By:
                                           ------------------------------------

OPTIONEE:

NOT FOR EXECUTION
----------------------

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Stock Plan                                                             Page A-2
<PAGE>   9

GRANT OF OPTION PURSUANT TO THE
MYCOM GROUP, INC. STOCK PLAN.

OPTIONEE:
                         --------------------
OPTIONS GRANTED:
                         --------------------
PURCHASE PRICE:          $      per Share
DATE OF GRANT:            ------

EXERCISE PERIOD:                  to
                         --------   ---------

VESTING SCHEDULE:  OPTION ON
                    #SHARES    DATE VESTED (ASSUMING CONTINUED EMPLOYMENT, ETC.)
                   ----------  -----------

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

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

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

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

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

EXERCISED TO DATE:                     INCLUDING THIS EXERCISE
                          ------------
BALANCE TO BE EXERCISED:
                          ------------

================================================================================

                               NOTICE OF EXERCISE
                 (TO BE SIGNED ONLY UPON EXERCISE OF THE OPTION)

TO:      Mycom Group, Inc. ("Optionor")

         The undersigned, the holder of the Option described above, hereby
irrevocably elects to exercise the purchase rights represented by such Option
for, and to purchase thereunder, _________ shares of the Common Stock of Mycom
Group, Inc., and herewith makes payment of _______________________ therefor.
Optionee requests that the certificates for such shares be issued in the name of
Optionee and be delivered to Optionee at the address of
_____________________________________________, and if such shares shall not be
all of the shares purchasable hereunder, represents that a new Notice of
Exercise of like tenor for the appropriate balance of the shares, or a portion
thereof, purchasable under the Grant of Option pursuant to the Mycom Group, Inc.
Stock Plan, be delivered to Optionor when and as appropriate.

                                             OPTIONEE:

                                             NOT FOR EXECUTION
Dated:
      ---------------------                  -------------------------

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Stock Plan                                                             Page A-3REVOLVING LOAN AND SECURITY AGREEMENT

         This Revolving Loan and Security Agreement ("Agreement") is entered
into this date by and between One World Online.com, Inc., a Nevada corporation
("Borrower") and Tradeco Corp., a Utah corporation ("Lender").

         WHEREAS, the Lender is a stockholder and affiliate of the Borrower and
both the Lender and the Borrower believe that it is in their mutual interest to
enter into this Agreement.

NOW, THEREFORE, IT IS AGREED AS FOLLOWS:

Section 1. Periodic Loans. During the term hereof, Lender hereby agrees to make
periodic loans (collectively and individually, the "Loans") to the Borrower in
an aggregate principal amount at any one time outstanding not to exceed TWO
MILLION DOLLARS ($2,000,000) ("Maximum Amount"). Beginning on the date hereof
and ending on the twelve month anniversary hereof, unless terminated earlier
pursuant to the default provisions of this Agreement, from time to time Borrower
may notify the Lender of its need to borrow funds pursuant to this Agreement.
Within five business days of receipt of such notice from the Borrower seeking to
borrow funds, the Lender shall forward such funds to the Borrower up to, but not
in excess of, the Maximum Amount. All amounts lent hereunder shall be evidenced
by ten percent (10%) convertible promissory notes in substantially the same form
as attached hereto as Exhibit "A" (the "Notes"). Borrower shall deliver to
Lender Notes in the principal amount of funds lent on each date that Lender
provides funds to Borrower hereunder.

Section 2. Finance Charges. All principal and interest then outstanding shall
bear interest at the rate of ten percent (10%) per annum. In addition, as
consideration Lender shall be entitled to warrants to acquire one share of the
Company's common stock for every two ($2) in funds (excluding interest) lent by
Lender to Borrower hereunder. Said warrants shall be exercisable at $5.50 per
share for a period ending on the five year anniversary of the date of grant and
shall otherwise be in substantially the same form as attached hereto as Exhibit
"B."

Section 3. Payments. All principal and interest outstanding on the twelve month
anniversary hereof shall be due and payable by the Borrower to the Lender in a
single balloon payment on January 15, 2002. The Borrower may, from time to time,
in the Borrower's discretion, make one or more periodic payments to the Lender.
Such payments shall be credited to the Borrower's account on the date that such
payment is physically received by the Lender. Such payments shall be applied
first to the interest outstanding, and then to the principal outstanding.

Section 4. Conditions Precedent.

         4.1. The obligation of Lender to disburse all or any part of the Loan
under this Agreement is subject to the satisfaction, on or before each date
funds are lent hereunder, of all the conditions set out below in this Section 4.
Lender may waive any or all of these conditions in whole or in part without
prior notice; provided, however, that no such waiver of a condition shall
constitute a waiver by Lender of any of its other rights or remedies, at law or
in equity, if Borrower shall be in default of any of its representations,
warranties, or covenants under this Agreement.

         4.2 From the date hereof to the date of each disbursement, there shall
not have been any material adverse change in the financial condition or the
results of operations of Borrower, and Borrower shall not have sustained any
material loss or damage to its assets, whether or not insured, that materially
affects its ability to conduct a material part of its business.

         4.3 No action, suit, or proceeding before any court or any governmental
body or authority pertaining to the transaction contemplated by this Agreement
or to its consummation, shall have been instituted or threatened on or before
the date of disbursement.

<PAGE>

         4.4 The execution and delivery and performance of this Agreement and
any note or other instrument or agreement required under this Agreement by
Borrower shall have been duly authorized by all necessary corporate action, and
Lender shall have received copies of all resolutions pertaining to that
authorization, certified by the secretary of Borrower as being in full force and
effect on the date of first disbursement.

Section 5. Subordination.

         5.1 The rights of the Lender to repayment of principal and interest,
and in any secrutiy interest granted hereunder, shall be subordinated to:

                  A. the principal, accrued and unpaid interest and other
amounts owing on (i) any secured indebtedness of the Borrower for obligations
that are outstanding on the date of this Agreement and (ii) obligations of the
Borrower under any agreement to lease, or for the lease of, any real or personal
property, whether outstanding on the date of this Agreement or thereafter
created, incurred or assumed, and

                  B. modifications, renewals, extensions, and refundings of any
such indebtedness, liabilities, or obligations; unless, in the instrument
creating or evidencing the same or pursuant to which the same is outstanding, it
is provided that such indebtedness, liabilities, or obligations or such
modification, renewal, extension, or refunding thereof, or the obligations of
the Borrower pursuant to such a guarantee, are not superior in right of payment
to this Agreement.

         5.2 At the request of Borrower, Lender shall execute, acknowledge and
deliver to Borrower, or to parties to whom this subordination provision applies,
a written acknowledgment of this subordination.

Section 6. Grant of Security Interest. Subject to Section 5, Borrower hereby
grants and conveys to Lender a security interest in the following described
property of Borrower, whether now owned or hereafter acquired:

                  A. All accounts, goods, equipment, fixtures, and inventory;

                  B. All money, cash, instruments (including checks and
promissory notes), documents of title, chattel paper, and utility and security
deposits;

                  C. All deposit accounts and all amounts on deposit with any
banks or other financial institutions, and all amounts owed or becoming owed on
account of credit card sales and collections, including, without limitation, all
amounts due under merchant bankcard or similar agreements; and

                  D. All securities, shares of stock and ownership interests in
other business entities, including any affiliates or subsidiaries of the
Borrower; and

                  E. All cash and non-cash proceeds and products of the
foregoing;

         hereinafter collectively referred to as the "Collateral;"

         For the purpose of securing the payment of the Notes, and the payment
and performance of all obligations and covenants contained in the Notes, in this
Agreement, or in any other instrument securing the Notes or relating to the
obligations of the Borrower thereunder (hereinafter referred to as the
"Indebtedness").

Section 7. Debtor's Covenants.

         7.1 The Borrower will not dispose of, transfer, or conceal any of the
Collateral, excepting only transfers in the ordinary course of business.

         7.2 The Borrower shall pay when due any and all taxes assessed on the
Collateral.

                                       2
<PAGE>

Section 8. Default Provisions. The occurrence of one or more of the following
events shall constitute an event of default:

                  A. If the Borrower fails to pay any sum when due under one or
more of the Notes, or any other event of default occurs with respect to the
Indebtedness.

                  B. Failure of the Borrower to comply with or perform any of
the terms, covenant, and conditions of this Agreement.

                  C. If any levy, attachment, garnishment, lien, execution or
other process is issued against or otherwise attaches to the Collateral, whether
for taxes or any other debt or claim and whether or not any such attachment or
other process is issued before or after entry of judgment.

                  D. If the Borrower ceases conducting business, dissolves,
terminates its existence, becomes insolvent, files a voluntary petition for
bankruptcy, has filed against it an involuntary petition in bankruptcy that is
not dismissed within sixty (60) days of the filing date, or is the subject of an
assignment for the benefit of creditors.

                  E. If any representation by the Borrower, then, in connection
with this Agreement, the Notes, or any other related instrument, whether made
before or after execution of this Agreement, was false in any material respect
when made.

Section 9. Remedies. Upon default, the Lender shall have the following rights,
in addition to any other rights afforded by law:

                  A. The Borrower agrees that notice of any disposition of or
use of the Collateral shall be deemed commercially reasonable and to have been
given to and received by the Borrower if transmitted by certified mail, return
receipt requested, at least fourteen (14) days prior to the proposed disposition
or use. The Borrower further agrees that any public sale of the Collateral, or
any portion thereof, may be postponed by the Lender (or its agent) for a period
of not to exceed seven days, by announcement at the time and place of the sale,
without need to re-notice or advertise. Notwithstanding the foregoing, the
Lender shall not be required to dispose of the Collateral or any portion thereof
by public auction.

                  B. Lender shall be entitled to notify any account debtor, any
obligor on an instrument, and any other person in custody or control of any of
the Collateral (including all banks and financial institutions holding funds of
the Borrower), to make payments on and/or to deliver the Collateral to Lender or
its Agent.

Section 10. Acceleration. At the option of the Lender, and without demand or
notice, all principal and any unpaid interest shall become immediately due and
payable upon a default as set forth in Section 8 above.

Section 11. Miscellaneous.

         11.1 The Borrower shall pay to the Lender, on demand, any and all
expenses, including attorney's fees, incurred or paid by Lender in protecting or
enforcing its rights upon or under the Notes or the Collateral, and such
expenses are secured hereunder. If the Borrower shall default in the performance
of any of the provisions of this Agreement, Lender may cure the default for the
Borrower's account, and any monies expended in doing so shall be paid on demand,
together with interest from the date expended at twelve percent (12%) per annum.

         11.2 The Borrower agrees to execute and deliver such financing
statements, certificates of title or other evidence of title or ownership, and
other instruments as Lender may reasonably request in order to perfect or
protect the security interest granted hereunder. A copy of this Agreement may be
filed as a financing statement.

                                       3
<PAGE>

         11.3 This Agreement constitutes the entire agreement between the
parties pertaining to the subject matter contained in this Agreement. All prior
and contemporaneous agreements, representations and understandings of the
parties, oral or written, are superseded by and merged in this Agreement. No
supplement, modification or amendment of this Agreement shall be binding unless
in writing and executed by the Borrower and the Lender.

         11.4 The provisions of this Agreement shall be binding upon the
Borrower, its legal representatives, successors or assigns, and shall be for the
benefit of the Lender and its respective successors and assigns.

         11.5 The headings of this Agreement are for purposes of reference only
and shall not limit or define the meaning of any provision of this Agreement.
This Agreement may be executed in any number of counterparts, each of which
shall be an original but all of which shall constitute one and the same
instrument.

         11.6 If any action is brought by either party in respect to its rights
under this Agreement, or to obtain an interpretation thereof, the prevailing
party shall be entitled to reasonable attorneys' fees and court costs as
determined by the court.

         11.7 No waiver of any of the provisions of this Agreement shall
constitute a waiver of any other provision, whether or not similar, nor shall
any waiver be a continuing waiver. Except as expressly provided in this
Agreement, no waiver shall be binding unless executed in writing by the party
making the waiver. Either party may waive any provision of this Agreement
intended for its benefit; provided, however, such waiver shall in no way excuse
the other party from the performance of any of its other obligations under this
Agreement.

         11.8 This Agreement shall be governed by the laws of the State of Utah.
Any legal action to enforce or obtain an interpretation of this Agreement may be
filed in the Fourth Judicial District Court of Utah County, or the Third
Judicial District Court of Salt Lake County, and the parties consent to the
exercise of personal over them by said courts.

Section 12. Notices; Addresses. Any notices required or permitted hereunder
shall be in writing and shall be given by personal delivery; by deposit in the
United States mail, certified mail, return receipt requested, postage prepaid;
or by established express delivery service, freight prepaid. Notices shall be
delivered, addressed, or transmitted to the parties at the following addresses,
which may be changed by a notice given to the other party in accordance with
this Section. The date notice is deemed to have been given, received and become
effective shall be the date on which the notice is delivered, if notice is given
by personal delivery, two (2) days following the date of deposit in the mail, if
the notice is sent through the United States mail, or the date of actual
receipt, if the notice is sent by express delivery service.

                  The Borrower's address is:

                  One World Online.Com, Inc.
                  Attn. Chief Financial Officer
                  4778 North 300 West, Suite 200
                  Provo, Utah 84604
                  Telephone:        801-852-3540
                  Fax:              801-852-3550

                  The Lender's address, and the address from which information
respecting this security interest may be requested, is:

                  Tradeco Corp.
                  1065 West 1150 South
                  Provo UT 84601

                                       4
<PAGE>

         IN WITNESS WHEREOF, the undersigned have executed this Agreement to be
effective as of the 30th day of October, 2000.

"BORROWER"                                             "LENDER"
ONE WORLD ONLINE.COM, INC.,                            TRADECO CORP.
a Nevada corporation                                   a Utah corporation
Federal Empl. ID No. 87-0411771

By /s/ David N. Nemelka                                By /s/ David N. Nemelka
   ----------------------                                 ----------------------
    Its President                                           Its President

                                       5
<PAGE>

                                    EXHIBIT A

                           ONE WORLD ONLINE.COM, INC.,
                              a Nevada corporation

                     10% SECURED CONVERTIBLE PROMISSORY NOTE

No. ________                                                   $____________ USD

NEITHER THIS PROMISSORY NOTE NOR THE UNDERLYING COMMON SHARES HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "SECURITIES ACT"), OR UNDER ANY
OTHER APPLICABLE STATE SECURITIES LAWS. NEITHER THIS PROMISSORY NOTE NOR ANY
COMMON SHARES ISSUED PURSUANT TO ITS CONVERSION PROVISION MAY BE SOLD, PLEDGED,
TRANSFERRED OR ASSIGNED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS, OR IN A
TRANSACTION WHICH IS EXEMPT FROM REGISTRATION UNDER THE PROVISIONS OF THE
SECURITIES ACT AND UNDER PROVISIONS OF APPLICABLE STATE SECURITIES LAWS.

         1. Promise to Pay. One World Online.Com, Inc., a Nevada corporation
("Corporation"), for value received, hereby promises to pay to _______________,
("Holder"), the principal sum of ____________________ Dollars ($____________),
with interest at the rate of ten percent (10%) per annum until this Note has
been paid in full or converted pursuant to the provisions hereof.

         2. Payments. Principal shall be due and payable in a single balloon
payment on January 15, 2002 (the "Maturity Date"). Payments shall be made in
lawful money of the United States of America to Holder at the address provided
to the Corporation by the Holder, as appears on this instrument below or at such
other addresses as sent by Holder to the Corporation by certified U.S. mail at
least twenty (20) days before said payment date.

         3. Default. The occurrence of one or more of the following events shall
constitute an event of default:

                  3.1 The nonpayment of the principal and/or interest of this
Note when the same shall have become due and payable.

                  3.2 Filing by the Corporation of a petition in bankruptcy or
seeking reorganization, arrangement, adjustment, or composition of or in respect
of the Corporation's debts, whether under the United States Bankruptcy Code or
any other applicable federal or state law; entry of an order for relief under
the United States Bankruptcy Code, whether pursuant to a voluntary or
involuntary petition; the filing of an involuntary petition seeking adjudication
of the Corporation as a debtor under the United States Bankruptcy Code or
similar federal law, if said petition is not dismissed within sixty (60) days;
entry of a decree or order appointing a receiver, liquidator, assignee, or
trustee of the Corporation, or any substantial part if its property, or ordering
the winding up or liquidation of its affairs, and the continuance of any such
decree or order unstayed and in effect for a period of sixty (60) days; or the
making by it of an assignment for the benefit of creditors, or the admission by
it in writing of its inability to pay its debts generally as they become due, or
the taking of corporate action by the Corporation in furtherance of any such
action.

                  3.3 Default by the Corporation under the Revolving Loan and
Security Agreement, which default is not cured within ten (10) days of written
notice thereof (or within such longer cure period as allowed by the Revolving
Loan and Security Agreement).

         4. Acceleration. At the option of the Holder, and without demand or
notice, all principal and any unpaid interest shall become immediately due and
payable upon a default as set forth in Section 3 above.

<PAGE>

         5. Conversion Privilege. The Holder of this Note shall have the right,
at Holder's option, at any time prior to the Maturity Date, and thereafter with
the consent of the Corporation, to convert the principal and accrued, but
unpaid, interest of this Note into common shares of the Corporation ("Common
Shares"), at the Conversion Price. The "Conversion Price" means the lesser of
(i) $3.50 per share or (ii) the average of the average closing bid price of the
Corporation's Common Shares quoted on the Nasdaq Stock Market System or reported
on the NASD's OTC Bulletin Board during the ten trading days preceding the
conversion date, subject to a minimum conversion price of one dollar ($1). The
Holder must convert all of the principal and accrued interest if any is
converted. In order to convert, the Holder must surrender this Note to the
Corporation at the Corporation's principal offices and the Corporation shall, as
promptly as practicable after the surrender, deliver to the Holder a certificate
or certificates representing the number of fully paid and nonassessable Common
Shares of the Corporation into which this Note may be converted. Fractional
shares shall not be issued, but the conversion price of such fractional share
will be paid in cash to the Holder. No payment or adjustment shall be made upon
any conversion with respect to any dividend on the common stock delivered upon
conversion.

         6. Call By Corporation. Provided that this Note has not been converted
pursuant to the provisions hereof, the Corporation may at its sole discretion
call this Note for payment at any time prior to the Maturity Date, by the
delivery of a notice of such call to the Holder hereof. The Holder shall have a
30-day period after the Corporation gives notice of the call to convert the
Holder's Note pursuant to Section 5 hereof. Unless so converted, the Corporation
shall pay to the Holder the principal and accrued, but unpaid, interest due as
of the expiration of Holder's conversion right (i.e., 30 days after notice of
the call has been sent to Holder), in exchange for which Holder shall deliver
this Note to the Corporation.

         7. Effect of Mergers, etc. on Conversion Privilege.

                  7.1 In case of any capital reorganization, or of any
reclassification of the common shares of the Corporation or in case of the
consolidation or merger of the Corporation with or into any other corporation or
of the sale, lease or other disposition of the properties and assets of the
Corporation as, or substantially as, an entirety to any other corporation, each
Note shall, after such capital reorganization, reclassification of common
shares, consolidation, merger or sale, lease, or other disposition, be
convertible into the kind and amount of shares or other securities or property
(including cash) to which the holder of the number of common shares deliverable
(immediately prior to the time of such capital reorganization, reclassification
of common shares, consolidation, merger, sale, lease, or other disposition) upon
conversion of such Note would have been entitled upon such capital
reorganization, reclassification of common shares, consolidation, merger, sale,
lease, or other disposition.

                  7.2 In any such event, effective provision shall be made, in
the certificate or articles of incorporation of the resulting or surviving
corporation, in any contracts of sale and conveyance, or otherwise so that, so
far as appropriate and as nearly as reasonably may be, the provisions set forth
herein for the protection of the rights of the Holder of this Note shall
thereafter be made applicable.

                  7.3 Whenever the number or kind of securities purchasable upon
conversion of this Note shall be adjusted as required by the provisions of this
Section 7, the Corporation shall forthwith file with its Secretary or Assistant
Secretary at its principal office an officer's certificate showing the adjusted
number of kind of securities purchasable upon conversion of this Note determined
as herein provided and setting forth in reasonable detail such facts as shall be
necessary to show the reason for and the manner of computing such adjustments.
Each such officer's certificate shall be made available at all reasonable times
for inspection by the Holder and the Corporation shall, forthwith after each
such adjustment, mail by certified mail a copy of such certificate to the
Holder.

                  7.4 So long as this Note shall be outstanding, if the
Corporation shall propose to take any action that would cause an adjustment to
be made pursuant to this Section 7, the Corporation shall mail by certified mail
to the Holder, at least 15 days prior to the day on which such adjustment would
become effective, a notice setting forth in reasonable detail the action to be
so taken.

                                       2
<PAGE>

         8. Corporation to Reserve Common Shares. The Corporation covenants that
it will at all times reserve and keep available, free from preemptive rights,
out of the aggregate of its authorized but unissued common shares, or its issued
common shares held in its treasury, or both, for the purpose of effecting
conversions of Notes, the full number of common shares then deliverable upon the
conversion of all outstanding Notes not theretofore converted; and if at any
time the number of authorized but unissued common shares shall not be sufficient
to effect the conversion of all said outstanding Notes, the Corporation will
take such corporate action as may in the opinion of its counsel be necessary to
increase its authorized but unissued common shares to such number of shares as
shall be sufficient for that purpose.

         9. Restrictions on Transfer. This Note has not been registered under
the Securities Act of 1933. This Note, or any right hereunder, may not be
enforced against the Corporation by any Holder, except the original Holder
herein, and the Corporation shall not be obligated to recognize any purported
transferee or assignee, (i) unless there is an effective registration covering
the Note or underlying right under the Securities Act of 1933 and applicable
state securities laws, (ii) unless the Corporation receives an opinion of an
attorney, licensed to practice within the United States, that the transfer of
the Note, or any underlying right, complies with the requirements of the
Securities Act of 1933 and any relevant state securities law, or (iii) unless
the transfer is made pursuant to Rule 144 under the Securities Act of 1933. Any
permitted transferee or assignee shall be subject to the restrictions and to the
terms of this Note and the Revolving Loan and Security Agreement, and the
Corporation may require said transferee or assignee to execute and deliver such
further instruments evidencing or acknowledging the same.

         10. Rights of the Holder. The Holder shall not, by virtue hereof, be
entitled to any rights of a shareholder in the Corporation, either at law or
equity, unless and until Common Shares are issued pursuant to the conversion
provisions hereof.

         11. Notices. Any notices required or permitted hereunder shall be in
writing and shall be given by personal delivery; by deposit in the United States
mail, certified mail, return receipt requested, postage prepaid; or by
established express delivery service, freight prepaid. Notices shall be
delivered, addressed, or transmitted to the Corporation and to Holder at the
following addresses, which may be changed by a notice given to the other party
in accordance with this Section. The date notice is deemed to have been given,
received and become effective shall be the date on which the notice is
delivered, if notice is given by personal delivery, two (2) days following the
date of deposit in the mail, if the notice is sent through the United States
mail, or the date of actual receipt, if the notice is sent by express delivery
service.

                  The Corporation's address is:

                  One World Online.Com, Inc.
                  Attn. Chief Financial Officer
                  4778 North 300 West, Suite 200
                  Provo, Utah 84604
                  Telephone:        801-852-3540
                  Fax:              801-852-3550

                  The Holder's address is:

                  _______________________________
                  _______________________________
                  _______________________________
                  _______________________________

         12. Miscellaneous.

                                       3
<PAGE>

         12.1 This Note is one of a series of 10% Secured Convertible Promissory
Notes (the "Notes") issued by the Corporation, which Notes total an aggregate
amount of not more than Two Million Dollars (U.S.) ($2,000,000 USD). The
obligations of the Corporation under the Notes are secured by a Revolving Loan
and Security Agreement, and the rights and duties of the Corporation and Holder
are subject to the terms of the Revolving Loan and Security Agreement.

         12.2 The headings of this Note are for purposes of reference only and
shall not limit or define the meaning of any provision of this Note.

         12.3 If suit or action is instituted in connection with any controversy
arising out of this Note, or in the enforcement of any rights hereunder, the
prevailing party shall be entitled to recover in addition to costs such sums as
the court may adjudge as reasonable attorney's fees, including attorney's fees
incurred in any appeal.

         12.4 This Note shall be governed by the laws of the State of Utah. Any
legal action to enforce or obtain an interpretation of this Note may be filed in
the Fourth Judicial District Court of Utah County, or the Third Judicial
District Court of Salt Lake County, and the parties consent to the exercise of
personal over them by said courts.

         12.5 In computing any period of time pursuant to this Note, the day of
the act, event or default from which the designated period of time begins to run
shall be included, unless it is a Saturday, Sunday, or a legal holiday, in which
event the period shall begin to run on the next day which is not a Saturday,
Sunday, or legal holiday, in which event the period shall run until the end of
the next day thereafter which is not a Saturday, Sunday, or legal holiday.

         12.6 Nothing herein shall be construed to be to the benefit of any
third party, nor is it intended that any provision shall be for the benefit of
any third party.

         IN WITNESS WHEREOF, this Note is executed by One World Online.Com, Inc,
to be effective as of the _____ day of _______________, 2000.

                                                 ONE WORLD ONLINE.COM, INC.,
                                                 a Nevada corporation

                                                 By____________________________
                                                    Its President

STATE OF UTAH              )
                           ss:
COUNTY OF UTAH             )

         On this ____ day of ______________, 2000, before me appeared
____________, to me personally known, who being duly sworn did say that he/she
is the President of One World Online.Com, Inc., the within named corporation,
and that the instrument was signed in behalf of said corporation and
acknowledged the instrument to be the free act and deed of the corporation.

                                                      --------------------------
                                                        NOTARY PUBLIC

My Commission Expires:                      Residing at: _______________________
--------------------------------------------------------------------------------

                                       4
<PAGE>

                                    EXHIBIT B

THE WARRANTS REPRESENTED BY THIS CERTIFICATE AND THE COMMON STOCK ISSUABLE UPON
EXERCISE OF THE WARRANTS HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER THE
SECURITIES ACT OF 1933 OR THE SECURITIES OR BLUE SKY LAWS OF ANY STATE AND MAY
BE OFFERED AND SOLD ONLY IF REGISTERED AND QUALIFIED PURSUANT TO RELEVANT
PROVISIONS OF FEDERAL AND STATE SECURITIES OR BLUE SKY LAWS OR IF AN EXEMPTION
FROM SUCH REGISTRATION OR QUALIFICATION IS APPLICABLE.

         1. Warrant. This Warrant Certificate certifies that __________________,
or registered assigns (the "Registered Holder"), is the registered owner of the
above indicated number of Warrants expiring on the Expiration Date, as
hereinafter defined. One (1) Warrant entitles the Registered Holder to purchase
one (1) share of the common stock, $.001 par value per share (a "Share"), of One
World Online.Com, Inc., a Nevada corporation (the "Company"), from the Company
at a purchase price of $5.50 per share (the "Exercise Price") at any time during
the Exercise Period, as hereinafter defined, upon surrender of this Warrant
Certificate with the exercise form hereon duly completed and executed and
accompanied by payment of the Exercise Price at the principal office of the
Company.

         Upon due presentment for transfer or exchange of this Warrant
Certificate at the principal office of the Company, a new Warrant Certificate or
Warrant Certificates of like tenor and evidencing in the aggregate a like number
of Warrants shall be issued in exchange for this Warrant Certificate, subject to
the limitations provided herein, upon payment of any tax or governmental charge
imposed in connection with such transfer. Subject to the terms hereof, the
Company shall deliver Warrant Certificates in required whole number
denominations to Registered Holders in connection with any transfer or exchange
permitted hereunder.

         2. Restrictive Legend. Each certificate representing Shares issued upon
exercise of a Warrant, unless such Shares are then registered under the
Securities Act of 1933, as amended (the "Act"), shall bear a legend in
substantially the following form:

         THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
         OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES OR BLUE
         SKY LAWS OF ANY STATE AND MAY BE OFFERED AND SOLD ONLY IF REGISTERED
         AND QUALIFIED PURSUANT TO RELEVANT PROVISIONS OF FEDERAL AND STATE
         SECURITIES OR BLUE SKY LAWS OR IF AN EXEMPTION FROM SUCH REGISTRATION
         OR QUALIFICATION IS APPLICABLE.

         3. Exercise. Subject to the terms hereof, the Warrants, evidenced by
this Warrant Certificate, may be exercised at the Exercise Price in whole or in
part at any time during the period (the "Exercise Period") commencing on the
date hereof and terminating on the five year anniversary of the date of grant
(the "Expiration Date"). The Exercise Period may also be extended by the
Company's Board of Directors.

         A Warrant shall be deemed to have been exercised immediately prior to
the close of business on the date (the "Exercise Date") of the surrender to the
Company at its principal offices of this Warrant Certificate with the exercise
form attached hereto executed by the Registered Holder and accompanied by
payment to the Company, in cash, wire transfer, or by official bank or certified
check, of an amount equal to the aggregate Exercise Price, in lawful money of
the United States of America.

                  In lieu of payment of the Exercise Price in cash, the
          Registered Holder shall have the right at any time and from time to
          time to exercise the Warrants in full or in part by surrendering the
          Warrant Certificate in the manner specified above in exchange for the
          number of Shares equal to the product of (a) the number of shares to
          which the Warrants are being exercised multiplied by (b) a fraction,
          the numerator of which is the Market Price (as defined below) of the
          Company's common stock less the Exercise Price and the denominator of
          which is such Market Price (a "Cashless Exercise").

<PAGE>

         As used herein, the term "Market Price" at any date shall be deemed to
be the average of the last reported sale prices for the last fifteen (15)
trading days as officially reported by the principal securities exchange on
which the Company's common stock is listed or admitted to trading during said
period, or, if the Company's common stock is not listed or admitted to trading
on any national securities exchange during said period, the average closing bid
price of the common stock on the Nasdaq Stock Market System or reported on the
NASD's OTC Bulletin Board or, if the Company's common stock is not quoted on
Nasdaq or the OTC Bulletin Board, as determined in good faith by resolution of
the Board of Directors of the Company, based on the best information available
to it.

         The person entitled to receive the Shares issuable upon exercise of a
Warrant or Warrants ("Warrant Shares") shall be treated for all purposes as the
holder of such Warrant Shares as of the close of business on the Exercise Date.
The Company shall not be obligated to issue any fractional share interests in
Warrant Shares issuable or deliverable on the exercise of any Warrant or scrip
or cash with respect thereto, and such right to a fractional share shall be of
no value whatsoever. If more than one Warrant shall be exercised at one time by
the same Registered Holder, the number of full Shares which shall be issuable on
exercise thereof shall be computed on the basis of the aggregate number of full
shares issuable on such exercise.

         Promptly, and in any event within ten business days after the Exercise
Date, the Company shall cause to be issued and delivered to the person or
persons entitled to receive the same, a certificate or certificates for the
number of Warrant Shares deliverable on such exercise.

         The Company may deem and treat the Registered Holder of the Warrants at
any time as the absolute owner thereof for all purposes, and the Company shall
not be affected by any notice to the contrary. The Warrants shall not entitle
the Registered Holder thereof to any of the rights of shareholders or to any
dividend declared on the Shares unless the Registered Holder shall have
exercised the Warrants and thereby purchased the Warrant Shares prior to the
record date for the determination of holders of Shares entitled to such dividend
or other right.

         4. Reservation of Shares and Payment of Taxes. The Company covenants
that it will at all times reserve and have available from its authorized Common
Stock such number of shares as shall then be issuable on the exercise of
outstanding Warrants. The Company covenants that all Warrant Shares which shall
be so issuable shall be duly and validly issued, fully paid and nonassessable,
and free from all taxes, liens and charges with respect to the issue thereof.

         The Registered Holder shall pay all documentary, stamp or similar taxes
and other government charges that may be imposed with respect to the issuance,
transfer or delivery of any Warrant Shares on exercise of the Warrants. In the
event the Warrant Shares are to be delivered in a name other than the name of
the Registered Holder of the Warrant Certificate, no such delivery shall be made
unless the person requesting the same has paid the amount of any such taxes or
charges incident thereto.

         5. Registration of Transfer. The Warrant Certificates may be
transferred in whole or in part, provided any such transfer complies with all
applicable federal and state securities laws and, if requested by the Company,
the Registered Holder delivers to the Company an opinion of counsel to that
effect, in form and substance reasonably acceptable to the Company. Warrant
Certificates to be transferred shall be surrendered to the Company at its
principal office. The Company shall execute, issue and deliver in exchange
therefor the Warrant Certificate or Certificates which the Registered Holder
making the transfer shall be entitled to receive.

         The Company shall keep transfer books at its principal office or at the
office of its warrant agent which shall register Warrant Certificates and the
transfer thereof. On due presentment of any Warrant Certificate for registration
of transfer at such office, the Company shall execute, issue and deliver to the
transferee or transferees a new Warrant Certificate or Certificates representing
an equal aggregate number of Warrants. All Warrant Certificates presented for
registration of transfer or exercise shall be duly endorsed or be accompanied by
a written instrument or instruments of transfer in form satisfactory to the
Company. The Company may require payment of a sum sufficient to cover any tax or
other government charge that may be imposed in connection therewith.

         All Warrant Certificates so surrendered, or surrendered for exercise,
or for exchange in case of mutilated Warrant Certificates, shall be promptly
cancelled by the Company and thereafter retained by the Company until the

<PAGE>

Expiration Date. Prior to due presentment for registration of transfer thereof,
the Company may treat the Registered Holder of any Warrant Certificate as the
absolute owner thereof (notwithstanding any notations of ownership or writing
thereon made by anyone other than the Company), and the Company shall not be
affected by any notice to the contrary.

         6. Loss or Mutilation. On receipt by the Company of evidence
satisfactory as to the ownership of and the loss, theft, destruction or
mutilation of this Warrant Certificate, the Company shall execute and deliver,
in lieu thereof, a new Warrant Certificate representing an equal aggregate
number of Warrants. In the case of loss, theft or destruction of any Warrant
Certificate, the individual requesting issuance of a new Warrant Certificate
shall be required to indemnify the Company in an amount satisfactory to the
Company. In the event a Warrant Certificate is mutilated, such Certificate shall
be surrendered and cancelled by the Company prior to delivery of a new Warrant
Certificate. Applicants for a new Warrant Certificate shall also comply with
such other regulations and pay such other reasonable charges as the Company may
prescribe.

         7. Redemption. The Company has no right to redeem the Warrants.

         8. Adjustment of Shares. The number and kind of securities issuable
upon exercise of a Warrant shall be subject to adjustment from time to time upon
the happening of certain events, as follows:

                  (a) Stock Splits, Stock Combinations and Certain Stock
         Dividends. If the Company shall at any time subdivide or combine its
         outstanding Shares, or declare a dividend in Shares or other securities
         of the Company convertible into or exchangeable for Shares, a Warrant
         shall, after such subdivision or combination or after the record date
         for such dividend, be exercisable for that number of Shares and other
         securities of the Company that the Registered Holder would have owned
         immediately after such event with respect to the Shares and other
         securities for which a Warrant may have been exercised immediately
         before such event had the Warrant been exercised immediately before
         such event. Any adjustment under this Section 8 (a) shall become
         effective at the close of business on the date the subdivision,
         combination or dividend becomes effective.

                  (b) Adjustment for Reorganization, Consolidation, Merger. In
         case of any reorganization of the Company (or any other corporation the
         stock or other securities of which are at the time receivable upon
         exercise of a Warrant) or in case the Company (or any such other
         corporation) shall merge into or with or consolidate with another
         corporation or convey all or substantially all of its assets to another
         corporation or enter into a business combination of any form as a
         result of which the Shares or other securities receivable upon exercise
         of a Warrant are converted into other stock or securities of the same
         or another corporation, then and in each such case, the Registered
         Holder of a Warrant, upon exercise of the purchase right at any time
         after the consummation of such reorganization, consolidation, merger,
         conveyance or combination, shall be entitled to receive, in lieu of the
         Shares or other securities to which such Registered Holder would have
         been entitled had he exercised the purchase right immediately prior
         thereto, such stock and securities which such Registered Holder would
         have owned immediately after such event with respect to the Shares and
         other securities for which a Warrant may have been exercised
         immediately before such event had the Warrant been exercised
         immediately prior to such event.

         In each case of an adjustment in the Shares or other securities
receivable upon the exercise of a Warrant, the Company shall promptly notify the
Registered Holder of such adjustment. Such notice shall set forth the facts upon
which such adjustment is based.

         9. Reduction in Exercise Price at Company's Option. The Company's Board
of Directors may, at its sole discretion, reduce the Exercise Price of the
Warrants in effect at any time either for the life of the Warrants or any
shorter period of time determined by the Company's Board of Directors. The
Company shall promptly notify the Registered Holders of any such reduction in
the Exercise Price.

         10. Notices. All notices, demands, elections, or requests (however
characterized or described) required or authorized hereunder shall be deemed
given sufficiently if in writing and sent by registered or certified mail,
return receipt requested and postage prepaid, or by facsimile or telegram to the
Company, at its principal executive office, and of the Registered Holder, at the
address of such holder as set forth on the books maintained by the Company.

<PAGE>

         11. General Provisions. This Warrant Certificate shall be construed and
enforced in accordance with, and governed by, the laws of the State of Nevada.
Except as otherwise expressly stated herein, time is of the essence in
performing hereunder. The headings of this Warrant Certificate are for
convenience in reference only and shall not limit or otherwise affect the
meaning hereof.

         IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to
be duly executed as of the ____ day of ________, 2000.

ONE WORLD ONLINE.COM, INC.

By _________________________________              By ___________________________
     Secretary                                         President

<PAGE>

         ONE WORLD ONLINE.COM, INC.

         The following abbreviations, when used in the inscription on the face
of this instrument, shall be construed as though they were written out in full
according to applicable laws or regulations:

         TEN COM - as tenants in common
         TEN ENT - as tenants by the entireties
         JR TEN - as joint tenants with right of survivorship and not as tenants
                  in common
         UNIF TRANS MIN ACT - ____________ (Custodian for Minor) as
                  custodian for __________ (name of minor) under the Uniform
                  Transfers to Minors Act

Additional abbreviations may also be used though not in the above list.

                               FORM OF ASSIGNMENT
              (To be Executed by the Registered Holder if He or She
                   Desires to Assign Warrants Evidenced by the
                           Within Warrant Certificate)

         FOR VALUE RECEIVED ___________________________ hereby sells, assigns
and transfers unto _____________________________ _____________________ (_______)
Warrants, evidenced by the within Warrant Certificate, and does hereby
irrevocably constitute and appoint _____________________ __________________
Attorney to transfer the said Warrants evidenced by the within Warrant
Certificates on the books of the Company, with full power of substitution.

Dated:____________________                      _____________________________
                                                Signature

Notice:           The above signature must correspond with the name as written
                  upon the face of the Warrant Certificate in every particular,
                  without alteration or enlargement or any change whatsoever.

Signature Guaranteed:  __________________________________________

SIGNATURE MUST BE GUARANTEED BY A COMMERCIAL BANK OR MEMBER FIRM OF ONE OF THE
FOLLOWING STOCK EXCHANGES: NEW YORK STOCK EXCHANGE, PACIFIC COAST STOCK
EXCHANGE, AMERICAN STOCK EXCHANGE, OR MIDWEST STOCK EXCHANGE.

<PAGE>

                      FORM OF ELECTION TO PURCHASE FOR CASH

             (To be Executed by the Holder if he Desires to Exercise
                 Warrants Evidenced by the Warrant Certificate)

To One World Online.com, Inc.

         The undersigned hereby irrevocably elects to exercise _________________
(______) Warrants, evidenced by the within Warrant Certificate for, and to
purchase thereunder, _____________ _______________ (______) full shares of
Common Stock issuable upon exercise of said Warrants and delivery of $_________
and any applicable taxes.

         The undersigned requests that certificates for such shares be issued in
the name of:

                                          PLEASE INSERT SOCIAL SECURITY OR
                                          TAX IDENTIFICATION NUMBER

----------------------------------- -------------------------------------
(Please print name and address)

--------------------------------------------------------------------------------
         If said number of Warrants shall not be all the Warrants evidenced by
the within Warrant Certificate, the undersigned requests that a new Warrant
Certificate evidencing the Warrants not so exercised be issued in the name of
and delivered to:

--------------------------------------------------------------------------------
                         (Please print name and address)

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

Dated: _____________________                Signature:__________________________

NOTICE:           The above signature must correspond with the name as written
                  upon the face of the within Warrant Certificate in every
                  particular, without alteration or enlargement or any change
                  whatsoever, or if signed by any other person the Form of
                  Assignment hereon must be duly executed and if the certificate
                  representing the shares or any Warrant Certificate
                  representing Warrants not exercised is to be registered in a
                  name other than that in which the within Warrant Certificate
                  is registered, the signature of the holder hereof must be
                  guaranteed.

Signature Guaranteed: ___________________________________________

SIGNATURE MUST BE GUARANTEED BY A COMMERCIAL BANK OR MEMBER FIRM OF ONE OF THE
FOLLOWING STOCK EXCHANGES: NEW YORK STOCK EXCHANGE, PACIFIC COAST STOCK
EXCHANGE, AMERICAN STOCK EXCHANGE, OR MIDWEST STOCK EXCHANGE.

<PAGE>

                      FORM OF CASHLESS ELECTION TO PURCHASE

             (To be Executed by the Holder if he Desires to Exercise
                 Warrants Evidenced by the Warrant Certificate)

To One World Online.com, Inc.

         The undersigned hereby irrevocably elects to exercise the right
evidenced by the within Warrant Certificate to purchase _____________
_______________ (______) full shares of Common Stock issuable upon exercise of
said Warrants pursuant to a Cashless exercise and a cash amount equal to any
applicable taxes.

         The undersigned requests that certificates for such shares be issued in
the name of:

                                               PLEASE INSERT SOCIAL SECURITY OR
                                               TAX IDENTIFICATION NUMBER

------------------------------------    ----------------------------------------
(Please print name and address)

--------------------------------------------------------------------------------
         If said number of Warrants shall not be all the Warrants evidenced by
the within Warrant Certificate, the undersigned requests that a new Warrant
Certificate evidencing the Warrants not so exercised be issued in the name of
and delivered to:

--------------------------------------------------------------------------------
                         (Please print name and address)

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

Dated: _____________________                Signature:__________________________

NOTICE:           The above signature must correspond with the name as written
                  upon the face of the within Warrant Certificate in every
                  particular, without alteration or enlargement or any change
                  whatsoever, or if signed by any other person the Form of
                  Assignment hereon must be duly executed and if the certificate
                  representing the shares or any Warrant Certificate
                  representing Warrants not exercised is to be registered in a
                  name other than that in which the within Warrant Certificate
                  is registered, the signature of the holder hereof must be
                  guaranteed.

Signature Guaranteed: ___________________________________________

SIGNATURE MUST BE GUARANTEED BY A COMMERCIAL BANK OR MEMBER FIRM OF ONE OF THE
FOLLOWING STOCK EXCHANGES: NEW YORK STOCK EXCHANGE, PACIFIC COAST STOCK
EXCHANGE, AMERICAN STOCK EXCHANGE, OR MIDWEST STOCK EXCHANGE.

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