Document:

<PAGE>

CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH
THE COMMISSION.  CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE
OMITTED PORTIONS.

                                                                 Exhibit 10.15

                              ASIC DEVELOPMENT AGREEMENT

This is an agreement, dated as of June 24th, 1997 ("Effective Date") by and
between SUPERTEC ELECTRONICS Ltd., located at 1 Hamasger St., Raanana 43653,
POB 2550 Israel (hereinafter "SUPERTEC"), and NOGATECH Ltd., located at 2 Miviz
Kadesh St. Givat Shmuel 54100, Israel (hereinafter "CUSTOMER").

Whereas, CUSTOMER requires a design for a particular semiconductor product in
accordance with the design based on LG SEMICON'S technology.

Whereas, SUPERTEC has expertise in the design of semiconductor products and
believes it can perform the obligations described herein relating to the design
and production of the Product in accordance with this Agreement; and

Whereas, LG SEMICON has expertise in the manufacturing of integrated circuits,
and believes it can perform the obligations described herein relating to the
production of a design for Product and the manufacture of the Product in
accordance with this Agreement;

Whereas, CUSTOMER desires to purchase from SUPERTEC as its sole supplier for the
following design, and targeting for the quantity of more than 1 MILLION units
per year and SUPERTEC desires to sell such semiconductor products which are
developed by CUSTOMER and SUPERTEC and produced by LG SEMICON.

Now, therefore, in consideration of the Agreements between SUPERTEC and LG
SEMICON the parties hereto agree as follows:

PRODUCTION & DEVELOPMENT

SUPERTEC and CUSTOMER agree to use their respective best efforts to perform the
Design Steps for which such party is responsible as follows and to complete each
such Design Step by the appropriate Target Completion Date as follows:

<PAGE>

1.   DEFINITION

     Project Name:  NT 1003
     Part Number:   GVS 853XX
     Package:       100 PQFP
     Technology:    0.35 um SC TLM
     Size:          4,014 um x 4,014 um
     Description:   80 K gate 4 K byte DPRAM, USB transceiver, PLL,
                    Power-On-Reset, Clock Generator

2.   DEVELOPMENT OF PRODUCT

2.1  Development of * module (DRAM controller preliminary estimation 1-2
     months).
2.2  Synthesis of RTL Varilog files and test vectors generation (preliminary
     estimation-4 months of half time of an engineer).
2.3  Development of first stage ASIC in 0.6 um SC for Comdex fair (including 80K
     gate, 4K byte DPRAM, USB transceiver).
2.4  Development of second stage ASIC in 0.35 um S.C.

 *   If there is a significant change in the development hours (more than 10%)
     SuperTec should notified Nogatech to get the exceeded hours.

3.   FORECAST FOR COMPLETION DATES

<TABLE>
<CAPTION>
     Design Step                        Completion Date
     -----------                        ---------------
<S>                                     <C>
*    Beginning of ASIC design           Upon placement of the CUSTOMER'S order
*    Design 1 module                    1-2 months - by Supertec
*    Altera preliminary NL + TV         Beginning of July - Nogatech releases
*    Altera Full Integration            Aug 3rd   - Nogatech releases
*    Altera Final NL + TV               Aug. 10th - Nogatech releases
*    LG final NL + TV                   Aug. 24th - Supertec releases
*    LG final NL + TV tape-out          Sep. 1st  - Nogatech approval
*    1st Sign-Off, (0.6um)              Sep. 8th  - Nogatech approval
*    SDF out (0.6um)                    Sep. 15th - LG releases
*    2nd Sign-Off (0.6um)               Sep. 18th - Nogatech approval
*    Delivery of Prototypes (0.6um)     Oct. 20th - by LG ex Korea
*    LG NL + TV tape-out (0.35um)       Nov. 6th  - by LG ex Korea
*    1st Sign-Off, (0.35um)             Nov. 10th - Nogatech approval
*    SDF est (0.35um)                   Nov. 17th - LG releases
*    2nd Sign-Off.(0.35um)              Nov. 20th - Nogatech approval
*    Delivery of Prototypes (0.35um)    Dec. 25th - by LG ex Korea
*    Prototype Approval (0.35um)        Jan 8th 1998- Nogatech approval
*    Mass Production (0.35um)           Feb. 26th 1998 - by LG ex Korea
</TABLE>

[**] CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO
THE OMITTED PORTIONS.

<PAGE>

          TERMS OF CONTRACT

1.   GENERAL TERMS

This Agreement shall be effective from the date that this agreement is signed by
both parties and shall extend for a term of 5 years from the function approval
of the samples.

The CUSTOMER should confirm in writing the Prototype approval of the ASIC
product as soon as possible after receipt of the Prototype but no later than 60
days.

In the event that CUSTOMER does not specifically reject the prototypes provided
by SUPERTEC in writing within 60 days, such samples shall be deemed to be
accepted by CUSTOMER.

After Prototype approval CUSTOMER will issue a yearly forecast for expected
quantity.  The CUSTOMER shall confirm the rolling forecast two quarters before
delivery.  The rolling forecast shall be updated by the CUSTOMER in writing at
the beginning of each quarter.

After Prototype approval with respect to the yearly forecast, CUSTOMER must
issue a firm order 2-3 months before delivery.  The order cannot be canceled 75
days before confirmed delivery date (Ex Korea).

Any changes to the specifications of the Product requested by CUSTOMER shall be
subject to mutual agreement by both parties by written consent of both parties,
as to adjustments to the Design and Payment Schedule.

2. PRICES
   ------

<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------
Pos.            Product                        Pkg.           Qty/Yr.        Unit Price
                                                                                 USD
------------------------------------------------------------------------------------------
<S>       <C>                             <C>                <C>             <C>
1.         80K gates                       *** PQFP           ***K               *.**
           4x1K 8bit DPRAM                                    ***K               *.**
           SC TLM 0.35um                                      ***K               *.**
                                                               *M                *.**
------------------------------------------------------------------------------------------
2.         NRE - 0.35 um SC TLM                                                 90,000
           60 Prototypes are included
------------------------------------------------------------------------------------------
3.         NRE - 0.6 um SC TLM                                                  40,000
           60 Prototypes are included
------------------------------------------------------------------------------------------
4.         Development Charge per hour                                            65

------------------------------------------------------------------------------------------
</TABLE>

[**] CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY
WITH THE COMMISSION.  CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO
THE OMITTED PORTIONS.

<PAGE>

3.   PAYMENT

Payment for Mass Production orders will be NET 30 days after delivery, FOB
Korea, covered by CUSTOMER's Bank Guarantee in advance in addition to Bank
Guarantee according to paragraph 3.3, or any other arrangement which will be
agreed.

3.2  The NRE'S Costs will be invoiced as follows:

     - $39 K immediately at Order Placing.
     - $39 K immediately at the 0.6 um SC 1st Sign-Off design step.
     - $52 K a 0.35 um SC at Prototype Delivery
     - All development cost of $65 per Hour which will be paid during 1998,
       and will be added to the Unit Price of the first 100K units, by
       dividing the total cost to 100K units.

3.3  CUSTOMER will issue within the 0.6 um SC 1st Sign-Off design step, a Bank
     Guarantee in the amount of $52,000 US plus 17% VAT with validity until Dec.
     31, 1998.

3.4  SUPERTEC reserves the right to use the Bank Guarantee in paragraph 3.3 only
in case of the following:

-    None payment or Partial Payment by the CUSTOMER.
-    CUSTOMER fails to purchase the 100,000 pieces, by Dec. 31, 1998.

3.5  Unless otherwise stated herein, the prices quoted in this Agreement do not
include custom duties or sales, use, excise or other similar taxes payable
hereunder, and the same shall be added.

GENERAL

CUSTOMER agrees and understands that all development efforts were a long term
relationship.  If the project will continue in a second generation or version,
the continued development will be done through SUPERTEC, based on first refusal,
and meeting technical and marketing requirements.

1.   EXCLUSIVE RIGHTS AND CONFIDENTIALITY

Either parties understand and hereby acknowledge that it may become informed of,
and access to, confidential information of the other party including, but not
limited to trade secrets and technical information, and that such information is
the exclusive property of the other party.

<PAGE>

Parts of the product which are not trade secrets or professional secrets or
commonly known and are released by the CUSTOMER, may be used in other designs
completed by SUPERTEC or LG or 3rd parties.

It is agreed that CUSTOMER is the owners and holders of all proprietary
rights and has exclusive rights and absolute title respecting all of the data
base, that he has given to SUPERTEC including Verilog RTL and all inventions
process, know-how, computer program, technical data, information trade
secrets, copy writing and any other rights with respect to the foregoing.

It is agreed that SUPERTEC is the owners and holders of all proprietary rights
and has exclusive rights and absolute title respecting all of the data which
SUPERTEC developed for the project done by SUPERTEC for the CUSTOMER including
Net List, Test Vectors, Layout Masks and all inventions process, know-how
computer program, technical data, information trade secrets, copy writing and
any other rights with respect to the foregoing.

It is agreed that SUPERTEC is not allowed to use the Net List, Test Vectors, and
Layout Masks which SUPERTEC developed for the project done by SUPERTEC for the
CUSTOMER other than for the CUSTOMER Mass Production supply.

It is agreed that SUPERTEC is not the owners of the 2 modules which were
developed for the CUSTOMER.

2.   RESPONSIBILITY

CUSTOMER will be responsible for Prototypes and Sign Off Approvals and for all
the developmental work for both the CUSTOMER and SUPERTEC.

3.   MAJOR FORCE

Neither party to this Agreement shall be liable for its failure to perform any
of its obligations hereunder during any period in which such performance is
prevented by any cause beyond its control such as war, riots, sovereign act,
civil conditions, act of God, earthquakes, epidemics, floods, fires, quarantine
restrictions, accident, strike or lock out (also on part of suppliers), delays
in transportation, raw material shortages or delay in the delivery of essential
operating supplies or raw materials.  An agreed delivery period shall be
extended for the time after which such prevention continues and for a reasonable
period of no more than 4 weeks.

4.   APPLICABLE LAW; JURISDICTION

The validity, performance and construction of this Agreement shall be governed
by the laws of Israel, and Tel Aviv, Israel, shall be the appropriate venue and
jurisdiction for the resolution of disputes hereunder.

<PAGE>

5.   INVALIDITY

Should any one or more parts of this agreement be declared invalid by any court
of jurisdiction for any reason, such decision shall not affect the validity of
any portions, which shall remain in full force can effect as if this agreement
has executed with the invalid part or parts thereof eliminated.

6.   ATTORNEY'S FEES

The prevailing party in any legal action arising out of or related to this
Agreement shall be entitled to its reasonable court costs and attorneys' fees.

SUPERTEC ELECTRONICS LTD.                    NOGATECH LTD.

BY:       SuperTec Electronics Ltd.          By:       Nogatech Ltd.

NAME:     Udi Shamir                         NAME:     Arie Heiman

Signature  /s/ Udi Shamir                    Signature: /s/ Arie Heiman
           --------------                               ---------------

TITLE:    General Manager                    TITLE:    General Manager

DATE:     24 June, 1997                      DATE:     24/June, 1997
                                                       -------------<PAGE>

                                                                    Exhibit 10.3

                                  I-MANY, INC.

                            2000 STOCK INCENTIVE PLAN

1.       PURPOSE

         The purpose of this 2000 Stock Incentive Plan (the "Plan") of I-many,
Inc., a Delaware corporation (the "Company"), is to advance the interests of the
Company's stockholders by enhancing the Company's ability to attract, retain and
motivate persons who make (or are expected to make) important contributions to
the Company by providing such persons with equity ownership opportunities and
performance-based incentives and thereby better aligning the interests of such
persons with those of the Company's stockholders. Except where the context
otherwise requires, the term "Company" shall include any of the Company's
present or future subsidiary corporations as defined in Section 424(f) of the
Internal Revenue Code of 1986, as amended, and any regulations promulgated
thereunder (the "Code").

2.       ELIGIBILITY

         All of the Company's employees, officers, directors, consultants and
advisors (and any individuals who have accepted an offer for employment) are
eligible to be granted options, restricted stock awards, or other stock-based
awards (each, an "Award") under the Plan. Each person who has been granted an
Award under the Plan shall be deemed a "Participant."

3.       ADMINISTRATION, DELEGATION

         (a) ADMINISTRATION BY BOARD OF DIRECTORS. The Plan will be administered
by the Board of Directors of the Company (the "Board"). The Board shall have
authority to grant Awards and to adopt, amend and repeal such administrative
rules, guidelines and practices relating to the Plan as it shall deem advisable.
The Board may correct any defect, supply any omission or reconcile any
inconsistency in the Plan or any Award in the manner and to the extent it shall
deem expedient to carry the Plan into effect and it shall be the sole and final
judge of such expediency. All decisions by the Board shall be made in the
Board's sole discretion and shall be final and binding on all persons having or
claiming any interest in the Plan or in any Award. No director or person acting
pursuant to the authority delegated by the Board shall be liable for any action
or determination relating to or under the Plan made in good faith.

         (b) APPOINTMENT OF COMMITTEES. To the extent permitted by applicable
law, the Board may delegate any or all of its powers under the Plan to one or
more committees or subcommittees of the Board (a "Committee"). All references in
the Plan to the "Board" shall mean the Board to the extent that the Board's
powers or authority under the Plan have been delegated to such Committee.

4.       STOCK AVAILABLE FOR AWARDS

         (a) NUMBER OF SHARES. Subject to adjustment under Section 8, Awards may
be made under the Plan for up to 1,000,000 shares of common stock, $.0001 par
value per share, of the

<PAGE>

Company (the "Common Stock"). If any Award under the Plan, or any options or
other awards granted under the Company's 1994 Stock Plan or 1997 Stock Plan,
expires or is terminated, surrendered or canceled without having been fully
exercised or is forfeited in whole or in part or results in any Common Stock not
being issued, the unissed Common Stock covered by such Award, or any options or
other awards, shall again be available for the grant of Awards under the Plan,
subject, however, in the case of Incentive Stock Options (as hereinafter
defined), to any limitation required under the Code. Shares issued under the
Plan may consist in whole or in part of authorized but unissued shares or
treasury shares.

         (b) PER-PARTICIPANT LIMIT. Subject to adjustment under Section 8, for
Awards granted after the Common Stock is registered under the Securities
Exchange Act of 1934 (the "Exchange Act"), the maximum number of shares of
Common Stock with respect to which Awards may be granted to any Participant
under the Plan shall be 200,000 per calendar year. The per-Participant limit
described in this Section 4(b) shall be construed and applied consistently with
Section 162(m) of the Code ("Section 162(m)").

5.       STOCK OPTIONS.

         (a) GENERAL. The Board may grant options to purchase Common Stock
(each, an "Option") and determine the number of shares of Common Stock to be
covered by each Option, the exercise price of each Option and the conditions and
limitations applicable to the exercise of each Option, including conditions
relating to applicable federal or state securities laws, as it considers
necessary or advisable. An Option which is not intended to be an Incentive Stock
Option (as hereinafter defined) shall be designated a "Nonstatutory Stock
Option".

         (b) INCENTIVE STOCK OPTIONS. An Option that the Board intends to be an
"incentive stock option" as defined in Section 422 of the Code (an "Incentive
Stock Option") shall only be granted to employees of the Company and shall be
subject to and shall be construed consistently with the requirements of Section
422 of the Code. The Company shall have no liability to a Participant, or any
other party, if an Option (or any part thereof) which is intended to be an
Incentive Stock Option is not an Incentive Stock Option.

         (c) EXERCISE PRICE. The Board shall establish the exercise price at the
time each Option is granted and specify it in the applicable option agreement.

         (d) DURATION OF OPTIONS. Each Option shall be exercisable at such times
and subject to such terms and conditions as the Board may specify in the
applicable option agreement.

         (e) EXERCISE OF OPTION. Options may be exercised by delivery to the
Company of a written notice of exercise signed by the proper person or by any
other form of notice (including electronic notice) approved by the Board
together with payment in full as specified in Section 5(f) for the number of
shares for which the Option is exercised.

         (f) PAYMENT UPON EXERCISE. Common Stock purchased upon the exercise of
an Option granted under the Plan shall be paid for as follows:

             (1) in cash or by check, payable to the order of the Company;

                                      -2-
<PAGE>

             (2) except as the Board may, in its sole discretion, otherwise
provide in an option agreement, by (i) delivery of an irrevocable and
unconditional undertaking by a creditworthy broker to deliver promptly to the
Company sufficient funds to pay the exercise price or (ii) delivery by the
Participant to the Company of a copy of irrevocable and unconditional
instructions to a creditworthy broker to deliver promptly to the Company cash or
a check sufficient to pay the exercise price;

             (3) when the Common Stock is registered under the Exchange Act, by
delivery of shares of Common Stock owned by the Participant valued at their fair
market value as determined by (or in a manner approved by) the Board in good
faith ("Fair Market Value"), provided (i) such method of payment is then
permitted under applicable law and (ii) such Common Stock was owned by the
Participant at least six months prior to such delivery;

             (4) to the extent permitted by the Board, in its sole discretion by
(i) delivery of a promissory note of the Participant to the Company on terms
determined by the Board, or (ii) payment of such other lawful consideration as
the Board may determine; or

             (5) by any combination of the above permitted forms of payment.

         (g) SUBSTITUTE OPTIONS. In connection with a merger or consolidation of
an entity with the Company or the acquisition by the Company of property or
stock of an entity, the Board may grant Options in substitution for any options
or other stock or stock-based awards granted by such entity or an affiliate
thereof. Substitute Options may be granted on such terms as the Board deems
appropriate in the circumstances, notwithstanding any limitations on Options
contained in the other sections of this Section 5.

6.       RESTRICTED STOCK

         (a) GRANTS. The Board may grant Awards entitling recipients to acquire
shares of Common Stock, subject to the right of the Company to repurchase all or
part of such shares at their issue price or other stated or formula price (or to
require forfeiture of such shares if issued at no cost) from the recipient in
the event that conditions specified by the Board in the applicable Award are not
satisfied prior to the end of the applicable restriction period or periods
established by the Board for such Award (each, a "Restricted Stock Award").

         (b) TERMS AND CONDITIONS. The Board shall determine the terms and
conditions of any such Restricted Stock Award, including the conditions for
repurchase (or forfeiture) and the issue price, if any. Any stock certificates
issued in respect of a Restricted Stock Award shall be registered in the name of
the Participant and, unless otherwise determined by the Board, deposited by the
Participant, together with a stock power endorsed in blank, with the Company (or
its designee). At the expiration of the applicable restriction periods, the
Company (or such designee) shall deliver the certificates no longer subject to
such restrictions to the Participant or if the Participant has died, to the
beneficiary designated, in a manner determined by the Board, by a Participant to
receive amounts due or exercise rights of the Participant in the event of the
Participant's death (the "Designated Beneficiary"). In the absence of an
effective designation by a Participant, Designated Beneficiary shall mean the
Participant's estate.

                                      -3-
<PAGE>

7.       OTHER STOCK-BASED AWARDS

         The Board shall have the right to grant other Awards based upon the
Common Stock having such terms and conditions as the Board may determine,
including the grant of shares based upon certain conditions, the grant of
securities convertible into Common Stock and the grant of stock appreciation
rights.

8.       ADJUSTMENTS FOR CHANGES IN COMMON STOCK AND CERTAIN OTHER EVENTS

         (a) CHANGES IN CAPITALIZATION. In the event of any stock split, reverse
stock split, stock dividend, recapitalization, combination of shares,
reclassification of shares, spin-off or other similar change in capitalization
or event, or any distribution to holders of Common Stock other than a normal
cash dividend, (i) the number and class of securities available under this Plan,
(ii) the per Participant limit set forth in Section 4(b), (iii) the number and
class of securities and exercise price per share subject to each outstanding
Option, (iv) the repurchase price per share subject to each outstanding
Restricted Stock Award, and (v) the terms of each other outstanding Award shall
be appropriately adjusted by the Company (or substituted Awards may be made, if
applicable) to the extent the Board shall determine, in good faith, that such an
adjustment (or substitution) is necessary and appropriate. If this Section 8(a)
applies and Section 8(c) also applies to any event, Section 8(c) shall be
applicable to such event, and this Section 8(a) shall not be applicable.

         (b) LIQUIDATION OR DISSOLUTION. In the event of a proposed liquidation
or dissolution of the Company, the Board shall upon written notice to the
Participants provide that all then unexercised Options will (i) become
exercisable in full as of a specified time at least 10 business days prior to
the effective date of such liquidation or dissolution and (ii) terminate
effective upon such liquidation or dissolution, except to the extent exercised
before such effective date. The Board may specify the effect of a liquidation or
dissolution on any Restricted Stock Award or other Award granted under the Plan
at the time of the grant of such Award.

         (c) REORGANIZATION AND CHANGE IN CONTROL EVENTS

             (1) DEFINITIONS

                 (a) A "Reorganization Event" shall mean:

                    (i)  any merger or consolidation of the Company with or into
                         another entity as a result of which the Common Stock is
                         converted into or exchanged for the right to receive
                         cash, securities or other property; or

                    (ii) any exchange of shares of the Company for cash,
                         securities or other property pursuant to a share
                         exchange transaction.

                 (b) A "Change in Control Event" shall mean:

                                      -4-
<PAGE>

                    (i)  the acquisition by an individual, entity or group
                         (within the meaning of Section 13(d)(3) or 14(d)(2) of
                         the Securities Exchange Act of 1934, as amended (the
                         "Exchange Act")) (a "Person") of beneficial ownership
                         of any capital stock of the Company if, after such
                         acquisition, such Person beneficially owns (within the
                         meaning of Rule 13d-3 promulgated under the Exchange
                         Act) more than 30% of either (x) the then-outstanding
                         shares of common stock of the Company (the "Outstanding
                         Company Common Stock") or (y) the combined voting power
                         of the then-outstanding securities of the Company
                         entitled to vote generally in the election of directors
                         (the "Outstanding Company Voting Securities");
                         PROVIDED, HOWEVER, that for purposes of this subsection
                         (i), the following acquisitions shall not constitute a
                         Change in Control Event: (A) any acquisition directly
                         from the Company (excluding an acquisition pursuant to
                         the exercise, conversion or exchange of any security
                         exercisable for, convertible into or exchangeable for
                         common stock or voting securities of the Company,
                         unless the Person exercising, converting or exchanging
                         such security acquired such security directly from the
                         Company or an underwriter or agent of the Company), (B)
                         any acquisition by any employee benefit plan (or
                         related trust) sponsored or maintained by the Company
                         or any corporation controlled by the Company, (C) any
                         acquisition by any corporation pursuant to a Business
                         Combination (as defined below) which complies with
                         clauses (x) and (y) of subsection (iii) of this
                         definition, or (D) any acquisition by WI Software
                         Investors, LLC or Insight Capital Partners or their
                         affiliates of any shares of Common Stock; provided
                         that, after such acquisition, such persons described in
                         this clause (D) do not beneficially and individually or
                         collectively own more than 40% of either (i) the
                         Outstanding Company Common Stock or (ii) the
                         Outstanding Company Voting Securities (each such party
                         is referred to herein as an "Exempt Person"); or

                    (ii) such time as the Continuing Directors (as defined
                         below) do not constitute a majority of the Board (or,
                         if applicable, the Board of Directors of a successor
                         corporation to the Company), where the term "Continuing
                         Director" means at any date a member of the Board (x)
                         who was a member of the Board on the date of the
                         initial adoption of this Plan by the Board or (y) who
                         was nominated or elected subsequent to such date by at
                         least a majority of the directors who were Continuing
                         Directors at the time of such nomination or

                                      -5-
<PAGE>

                         election or whose election to the Board was recommended
                         or endorsed by at least a majority of the directors who
                         were Continuing Directors at the time of such
                         nomination or election; PROVIDED, HOWEVER, that there
                         shall be excluded from this clause (y) any individual
                         whose initial assumption of office occurred as a result
                         of an actual or threatened election contest with
                         respect to the election or removal of directors or
                         other actual or threatened solicitation of proxies
                         or consents, by or on behalf of a person other than
                         the Board; or

                    (iii) the consummation of a merger, consolidation,
                         reorganization, recapitalization or share exchange
                         involving the Company or a sale or other disposition of
                         all or substantially all of the assets of the Company
                         (a "Business Combination"), unless, immediately
                         following such Business Combination, each of the
                         following two conditions is satisfied: (x) all or
                         substantially all of the individuals and entities who
                         were the beneficial owners of the Outstanding Company
                         Common Stock and Outstanding Company Voting Securities
                         immediately prior to such Business Combination
                         beneficially own, directly or indirectly, more than 50%
                         of the then-outstanding shares of common stock and the
                         combined voting power of the then-outstanding
                         securities entitled to vote generally in the election
                         of directors, respectively, of the resulting or
                         acquiring corporation in such Business Combination
                         (which shall include, without limitation, a corporation
                         which as a result of such transaction owns the Company
                         or substantially all of the Company's assets either
                         directly or through one or more subsidiaries) (such
                         resulting or acquiring corporation is referred to
                         herein as the "Acquiring Corporation") in substantially
                         the same proportions as their ownership of the
                         Outstanding Company Common Stock and Outstanding
                         Company Voting Securities, respectively, immediately
                         prior to such Business Combination and (y) no Person
                         (excluding the Acquiring Corporation or any employee
                         benefit plan (or related trust) maintained or sponsored
                         by the Company or by the Acquiring Corporation or any
                         Exempt Person) beneficially owns, directly or
                         indirectly more than 30% of the then-outstanding shares
                         of common stock of the Acquiring Corporation, or of the
                         combined voting power of the then-outstanding
                         securities of such corporation entitled to vote
                         generally in the election of directors (except to the

                                      -6-
<PAGE>

                         extent that such ownership existed prior to the
                         Business Combination).

               (c)  "Good Reason" shall mean any significant diminution in the
                    Participant's title, authority, or responsibilities from and
                    after such Reorganization Event or Change in Control Event,
                    as the case may be, or any reduction in the annual cash
                    compensation payable to the Participant from and after such
                    Reorganization Event or Change in Control Event, as the case
                    may be , or the relocation of the place of business at which
                    the Participant is principally located to a location that is
                    greater than 50 miles from the current site.

               (d)  "Cause" shall mean any (i) willful failure by the
                    Participant, which failure is not cured within 30 days of
                    written notice to the Participant from the Company, to
                    perform his or her material responsibilities to the Company
                    or (ii) willful misconduct by the Participant which affects
                    the business reputation of the Company.

           (2)      EFFECT ON OPTIONS

               (a)  REORGANIZATION EVENT. Upon the occurrence of a
                    Reorganization Event (regardless of whether such event also
                    constitutes a Change in Control Event), or the execution by
                    the Company of any agreement with respect to a
                    Reorganization Event (regardless of whether such event will
                    result in a Change in Control Event), the Board shall
                    provide that all outstanding Options shall be assumed, or
                    equivalent options shall be substituted, by the acquiring or
                    succeeding corporation (or an affiliate thereof); PROVIDED
                    THAT if such Reorganization Event also constitutes a Change
                    in Control Event, except to the extent specifically provided
                    to the contrary in the instrument evidencing any Option or
                    any other agreement between a Participant and the Company,
                    the assumed or substituted options held by a Participant
                    shall become immediately exercisable in full if, on or prior
                    to the first anniversary of the date of the consummation of
                    the Reorganization Event, the Participant's employment with
                    the Company or the acquiring or succeeding corporation is
                    terminated for Good Reason by the Participant or is
                    terminated without Cause by the Company or the acquiring or
                    succeeding corporation. For purposes hereof, an Option shall
                    be considered to be assumed if, following consummation of
                    the Reorganization Event, the Option confers the right to
                    purchase, for each share of Common Stock subject to the
                    Option immediately prior to the consummation of the
                    Reorganization Event, the consideration (whether cash,
                    securities or other property) received as a result of the
                    Reorganization Event by holders of Common Stock for each
                    share of Common Stock held immediately prior to

                                      -7-
<PAGE>

                    the consummation of the Reorganization Event (and if holders
                    were offered a choice of consideration, the type of
                    consideration chosen by the holders of a majority of the
                    outstanding shares of Common Stock); provided, however, that
                    if the consideration received as a result of the
                    Reorganization Event is not solely common stock of the
                    acquiring or succeeding corporation (or an affiliate
                    thereof), the Company may, with the consent of the acquiring
                    or succeeding corporation, provide for the consideration to
                    be received upon the exercise of Options to consist solely
                    of common stock of the acquiring or succeeding corporation
                    (or an affiliate thereof) equivalent in fair market value to
                    the per share consideration received by holders of
                    outstanding shares of Common Stock as a result of the
                    Reorganization Event.

                         Notwithstanding the foregoing, if the acquiring or
                    succeeding corporation (or an affiliate thereof) does not
                    agree to assume, or substitute for, such Options, then the
                    Board shall, upon written notice to the Participants,
                    provide that all then unexercised Options will become
                    exercisable in full as of a specified time prior to the
                    Reorganization Event and will terminate immediately prior to
                    the consummation of such Reorganization Event, except to the
                    extent exercised by the Participants before the consummation
                    of such Reorganization Event; provided, however, that in the
                    event of a Reorganization Event under the terms of which
                    holders of Common Stock will receive upon consummation
                    thereof a cash payment for each share of Common Stock
                    surrendered pursuant to such Reorganization Event (the
                    "Acquisition Price"), then the Board may instead provide
                    that all outstanding Options shall terminate upon
                    consummation of such Reorganization Event and that each
                    Participant shall receive, in exchange therefor, a cash
                    payment equal to the amount (if any) by which (A) the
                    Acquisition Price multiplied by the number of shares of
                    Common Stock subject to such outstanding Options (whether or
                    not then exercisable), exceeds (B) the aggregate exercise
                    price of such Options.

               (b)  CHANGE IN CONTROL EVENT THAT IS NOT A REORGANIZATION EVENT.
                    In the event of the occurrence of a Change in Control Event
                    that does not also constitute a Reorganization Event, except
                    to the extent specifically provided to the contrary in the
                    instrument evidencing any Option or any other agreement
                    between a Participant and the Company, each such Option held
                    by a Participant shall become immediately exercisable in
                    full if, on or prior to the first anniversary of the date of
                    the consummation of the Change in Control Event, the
                    Participant's employment with the Company or the acquiring
                    or succeeding corporation is terminated for Good

                                      -8-
<PAGE>

                    Reason by the Participant or is terminated without Cause by
                    the Company or the acquiring or succeeding corporation.

           (3)      EFFECT ON RESTRICTED STOCK AWARDS

               (a)  REORGANIZATION EVENT THAT IS NOT A CHANGE IN CONTROL EVENT.
                    Upon the occurrence of a Reorganization Event that is not a
                    Change in Control Event, the repurchase and other rights of
                    the Company under each outstanding Restricted Stock Award
                    shall inure to the benefit of the Company's successor and
                    shall apply to the cash, securities or other property which
                    the Common Stock was converted into or exchanged for
                    pursuant to such Reorganization Event in the same manner and
                    to the same extent as they applied to the Common Stock
                    subject to such Restricted Stock Award.

               (b)  CHANGE IN CONTROL EVENT. In the event of the occurrence of a
                    Change in Control Event (regardless of whether such event
                    also constitutes a Reorganization Event), except to the
                    extent specifically provided to the contrary in the
                    instrument evidencing any Restricted Stock Award or any
                    other agreement between a Participant and the Company, each
                    such Restricted Stock Award held by a Participant shall
                    immediately become free from all conditions or restrictions
                    if, on or prior to the first anniversary of the date of the
                    consummation of the Change in Control Event, the
                    Participant's employment with the Company or the acquiring
                    or succeeding corporation is terminated for Good Reason by
                    the Participant or is terminated without Cause by the
                    Company or the acquiring or succeeding corporation.

           (4)      EFFECT ON OTHER AWARDS

               (a)  REORGANIZATION EVENT THAT IS NOT A CHANGE IN CONTROL EVENT.
                    The Board shall specify the effect of a Reorganization Event
                    that is not a Change in Control Event on any other Award
                    granted under the Plan at the time of the grant of such
                    Award.

               (b)  CHANGE IN CONTROL EVENT. In the event of the occurrence of a
                    Change in Control Event (regardless of whether such event
                    also constitutes a Reorganization Event), except to the
                    extent specifically provided to the contrary in the
                    instrument evidencing any Award or any other agreement
                    between a Participant and the Company, each such Award held
                    by a Participant shall immediately become fully exercisable,
                    realizable, vested or free from conditions or restrictions
                    if, on or prior to the first anniversary of the date of the
                    consummation of the Change in Control Event, the
                    Participant's employment with the Company or

                                      -9-
<PAGE>

                    the acquiring or succeeding corporation is terminated for
                    Good Reason by the Participant or is terminated without
                    Cause by the Company or the acquiring or succeeding
                    corporation.

9.       GENERAL PROVISIONS APPLICABLE TO AWARDS

         (a) TRANSFERABILITY OF AWARDS. Except as the Board may otherwise
determine or provide in an Award, Awards shall not be sold, assigned,
transferred, pledged or otherwise encumbered by the person to whom they are
granted, either voluntarily or by operation of law, except by will or the laws
of descent and distribution, and, during the life of the Participant, shall be
exercisable only by the Participant. References to a Participant, to the extent
relevant in the context, shall include references to authorized transferees.

         (b) DOCUMENTATION. Each Award shall be evidenced by a written
instrument in such form as the Board shall determine. Each Award may contain
terms and conditions in addition to those set forth in the Plan.

         (c) BOARD DISCRETION. Except as otherwise provided by the Plan, each
Award may be made alone or in addition or in relation to any other Award. The
terms of each Award need not be identical, and the Board need not treat
Participants uniformly.

         (d) TERMINATION OF STATUS. The Board shall determine the effect on an
Award of the disability, death, retirement, authorized leave of absence or other
change in the employment or other status of a Participant and the extent to
which, and the period during which, the Participant, the Participant's legal
representative, conservator, guardian or Designated Beneficiary may exercise
rights under the Award.

         (e) WITHHOLDING. Each Participant shall pay to the Company, or make
provision satisfactory to the Board for payment of, any taxes required by law to
be withheld in connection with Awards to such Participant no later than the date
of the event creating the tax liability. Except as the Board may otherwise
provide in an Award, when the Common Stock is registered under the Exchange Act,
Participants may, to the extent then permitted under applicable law, satisfy
such tax obligations in whole or in part by delivery of shares of Common Stock,
including shares retained from the Award creating the tax obligation, valued at
their Fair Market Value. The Company may, to the extent permitted by law, deduct
any such tax obligations from any payment of any kind otherwise due to a
Participant.

         (f) AMENDMENT OF AWARD. The Board may amend, modify or terminate any
outstanding Award, including but not limited to, substituting therefor another
Award of the same or a different type, changing the date of exercise or
realization, and converting an Incentive Stock Option to a Nonstatutory Stock
Option, provided that the Participant's consent to such action shall be required
unless the Board determines that the action, taking into account any related
action, would not materially and adversely affect the Participant.

         (g) CONDITIONS ON DELIVERY OF STOCK. The Company will not be obligated
to deliver any shares of Common Stock pursuant to the Plan or to remove
restrictions from shares

                                      -10-
<PAGE>

previously delivered under the Plan until (i) all conditions of the Award have
been met or removed to the satisfaction of the Company, (ii) in the opinion of
the Company's counsel, all other legal matters in connection with the issuance
and delivery of such shares have been satisfied, including any applicable
securities laws and any applicable stock exchange or stock market rules and
regulations, and (iii) the Participant has executed and delivered to the Company
such representations or agreements as the Company may consider appropriate to
satisfy the requirements of any applicable laws, rules or regulations.

         (h) ACCELERATION. The Board may at any time provide that any Options
shall become immediately exercisable in full or in part, that any Restricted
Stock Awards shall be free of restrictions in full or in part or that any other
Awards may become exercisable in full or in part or free of some or all
restrictions or conditions, or otherwise realizable in full or in part, as the
case may be.

10.      MISCELLANEOUS

         (a) NO RIGHT TO EMPLOYMENT OR OTHER STATUS. No person shall have any
claim or right to be granted an Award, and the grant of an Award shall not be
construed as giving a Participant the right to continued employment or any other
relationship with the Company. The Company expressly reserves the right at any
time to dismiss or otherwise terminate its relationship with a Participant free
from any liability or claim under the Plan, except as expressly provided in the
applicable Award.

         (b) NO RIGHTS AS STOCKHOLDER. Subject to the provisions of the
applicable Award, no Participant or Designated Beneficiary shall have any rights
as a stockholder with respect to any shares of Common Stock to be distributed
with respect to an Award until becoming the record holder of such shares.
Notwithstanding the foregoing, in the event the Company effects a split of the
Common Stock by means of a stock dividend and the exercise price of and the
number of shares subject to such Option are adjusted as of the date of the
distribution of the dividend (rather than as of the record date for such
dividend), then an optionee who exercises an Option between the record date and
the distribution date for such stock dividend shall be entitled to receive, on
the distribution date, the stock dividend with respect to the shares of Common
Stock acquired upon such Option exercise, notwithstanding the fact that such
shares were not outstanding as of the close of business on the record date for
such stock dividend.

         (c) EFFECTIVE DATE AND TERM OF PLAN. The Plan shall become effective on
the date on which it is adopted by the Company's stockholders. No Awards shall
be granted under the Plan after the completion of ten years from the earlier of
(i) the date on which the Plan was adopted by the Board or (ii) the date the
Plan was approved by the Company's stockholders, but Awards previously granted
may extend beyond that date.

         (d) AMENDMENT OF PLAN. The Board may amend, suspend or terminate the
Plan or any portion thereof at any time, provided that to the extent required by
Section 162(m), no Award granted to a Participant that is intended to comply
with Section 162(m) after the date of such amendment shall become exercisable,
realizable or vested, as applicable to such Award,

                                      -11-
<PAGE>

unless and until such amendment shall have been approved by the Company's
stockholders as required by Section 162(m) (including the vote required under
Section 162(m)).

         (e) GOVERNING LAW. The provisions of the Plan and all Awards made
hereunder shall be governed by and interpreted in accordance with the laws of
the State of Delaware, without regard to any applicable conflicts of law.

                                    * * * * *

                                      -12-

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