Document:

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                                                                    Exhibit 10.4

                             AMENDED AND RESTATED
                     1993 DIRECTORS' STOCK OPTION PLAN OF
                             INCYTE GENOMICS, INC.
                           (As Amended May 1, 2001)

SECTION 1.  INTRODUCTION.

     The Plan was adopted on July 28, 1993, amended and restated as of August 3,
1993, amended as of March 22, 1995, amended and restated as of March 18, 1998,
amended and restated as of March 30, 2001, and amended on May 1, 2001. The
purpose of the Plan is to offer the Company's Nonemployee Directors an
opportunity to acquire a proprietary interest in the success of the Company, or
to increase such interest, by purchasing Shares of the Company's Stock. The Plan
seeks to achieve this purpose by providing for the grant of nonstatutory options
to purchase Stock.

     The Plan is intended to comply in all respects with Rule 16b-3 (or its
successor) under the Exchange Act and shall be construed accordingly.

SECTION 2.  DEFINITIONS.

     (a)    "Board of Directors" shall mean the Board of Directors of the
Company, as constituted from time to time.

     (b)    "Change in Control" shall mean the occurrence of either of the
following events:

            (i)     A change in the composition of the Board of Directors, as a
     result of which fewer than one-half of the incumbent directors are
     directors who either:

                    (A)  Had been directors of the Company 24 months prior to
            such change; or

                    (B)  Were elected, or nominated for election, to the Board
            of Directors with the affirmative votes of at least a majority of
            the directors who had been directors of the Company 24 months prior
            to such change and who were still in office at the time of the
            election or nomination; or

            (ii)    Any "person" (as such term is used in sections 13(d) and
     14(d) of the Exchange Act) by the acquisition or aggregation of securities
     is or becomes the beneficial owner, directly or indirectly, of securities
     of the Company representing 50% or more of the combined voting power of the
     Company's then outstanding securities ordinarily (and apart from rights
     accruing under special circumstances) having the right to vote at elections
     of directors (the "Base Capital Stock"); except that any change in the
     relative beneficial ownership of the Company's securities by any person
     resulting solely from a reduction in the aggregate number of outstanding
     shares of Base Capital Stock, and any decrease thereafter in such person's
     ownership of securities, shall be
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     disregarded until such person increases in any manner, directly or
     indirectly, such person's beneficial ownership of any securities of the
     Company.

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

     (d)  "Company" shall mean Incyte Genomics, Inc. (formerly Incyte
Pharmaceuticals, Inc.), a Delaware corporation.

     (e)  "Employee" shall mean an employee (within the meaning of section
3401(c) of the Code and the regulations thereunder) of the Company or of a
Subsidiary of the Company.

     (f)  "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended.

     (g)  "Exercise Price" shall mean the amount for which one Share may be
purchased upon exercise of an Option, as specified in the applicable Stock
Option Agreement.

     (h)  "Fair Market Value" shall mean the market price of Stock, determined
by the Board of Directors as follows:

          (i)    If Stock was traded over-the-counter on the date in question
     but was not traded on The Nasdaq Stock Market, then the Fair Market Value
     shall be equal to the mean between the last reported representative bid and
     asked prices quoted for such date by the principal automated inter-dealer
     quotation system on which Stock is quoted or, if the Stock is not quoted on
     any such system, by the "Pink Sheets" published by the National Quotation
     Bureau, Inc.;

          (ii)   If Stock was traded over-the-counter on the date in question
     and was traded on The Nasdaq Stock Market, then the Fair Market Value shall
     be equal to the last-transaction price quoted for such date by The Nasdaq
     Stock Market;

          (iii)  If Stock was traded on a stock exchange on the date in
     question, then the Fair Market Value shall be equal to the closing price
     reported for such date by the applicable composite-transactions report; and

          (iv)   If none of the foregoing provisions is applicable, then the
     Fair Market Value shall be determined by the Board of Directors in good
     faith on such basis as it deems appropriate.

In all cases, the determination of Fair Market Value by the Board of Directors
shall be conclusive and binding on all persons.

     (i)  "Nonemployee Director" shall mean a member of the Board of Directors
who (i) is not an Employee, (ii) does not own five percent or more of the Stock,
(iii) does not represent an owner of five percent or more of the Stock and (iv)
does not join the Board of Directors pursuant to, or as a result of, a
contractual arrangement between the Company and a third party.

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     (j)  "Nonstatutory Option" shall mean a stock option not described in
sections 422(b) or 423(b) of the Code.

     (k)  "Option" shall mean a Nonstatutory Option granted under the Plan and
entitling the holder to purchase Shares.

     (l)  "Optionee" shall mean an individual who holds an Option.

     (m)  "Plan" shall mean this 1993 Directors' Stock Option Plan of Incyte
Genomics, Inc. (formerly Incyte Pharmaceuticals, Inc.), as it may be amended
from time to time.

     (n)  "Reverse Split" shall mean the one-for-two reverse split of the Stock
authorized by the Board of Directors prior to the initial adoption of the Plan.

     (o)  "Service" shall mean service as a member of the Board of Directors,
whether or not as a Nonemployee Director.

     (p)  "Share" shall mean one share of Stock, as adjusted in accordance with
Section 6 (if applicable). All references to numbers of Shares in Section 3
hereof give effect to the Reverse Split and the 100% stock dividends paid in
November 1997 and August 2000.

     (q)  "Stock" shall mean the Common Stock ($.001 par value) of the Company.

     (r)  "Stock Option Agreement" shall mean the agreement between the Company
and an Optionee that contains the terms, conditions and restrictions pertaining
to his or her Option.

     (s)  "Subsidiary" shall mean any corporation, if the Company and/or one or
more other Subsidiaries own not less than 50 percent of the total combined
voting power of all classes of outstanding stock of such corporation. A
corporation that attains the status of a Subsidiary on a date after the adoption
of the Plan shall be considered a Subsidiary commencing as of such date.

     (t)  "Total and Permanent Disability" shall mean that the Optionee is
unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which can be expected to result in
death or which has lasted, or can be expected to last, for a continuous period
of not less than one year.

SECTION 3.  STOCK SUBJECT TO PLAN.

     (a)  Basic Limitation.  Shares offered under the Plan shall be authorized
          ----------------
but unissued Shares or treasury Shares. The aggregate number of Shares which may
be issued under the Plan shall not exceed 800,000 Shares, subject to adjustment
pursuant to Section 6. The number of Shares that are subject to Options at any
time shall not exceed the number of Shares that then remain available for
issuance under the Plan. The Company, during the term of the Plan, shall at all
times reserve and keep available sufficient Shares to satisfy the requirements
of the Plan.

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     (b)  Additional Shares.  In the event that any outstanding Option for any
          -----------------
reason expires or is canceled or otherwise terminated, the Shares allocable to
the unexercised portion of such Option shall again be available for the purposes
of the Plan.

SECTION 4. TERMS AND CONDITIONS OF OPTIONS.

     (a)  Stock Option Agreement.  Each grant of an Option under the Plan shall
          ----------------------
be evidenced by a Stock Option Agreement between the Optionee and the Company.
Such Option shall be subject to all applicable terms and conditions of the Plan
and may be subject to any other terms and conditions that are not inconsistent
with the Plan and that the Board of Directors deems appropriate for inclusion in
a Stock Option Agreement.

     (b)  Initial Grants.  Each new Nonemployee Director who first joins the
          --------------
Board of Directors after March 30, 2001 shall receive an Option covering 20,000
Shares on the first business day after his or her initial election to the Board
of Directors. The number of Shares included in an Option shall be subject to
adjustment under Section 6.

     (c)  Annual Grants.  On the first business day following the conclusion of
          -------------
each regular annual meeting of the Company's stockholders, each Nonemployee
Director who will continue serving as a member of the Board of Directors
thereafter shall receive an Option covering 5,000 Shares, subject to adjustment
under Section 6. Each Nonemployee Director who is not initially elected at a
regular annual meeting of the Company's stockholders shall receive an Option to
purchase a pro rata portion of 5,000 Shares within ten business days of such
Director's election based on the number of full months remaining from date of
election until the next regular annual meeting of the Company's stockholders
divided by twelve. Any fractional shares resulting from such calculation shall
be rounded up to the nearest whole number.

     (d)  Exercise Price. The Exercise Price under each Option shall be equal to
          --------------
100 percent of the Fair Market Value of the Stock subject to such Option on the
date when such Option is granted. The entire Exercise Price of Shares issued
under the Plan shall be payable in cash when such Shares are purchased, except
as follows:

          (i)    Payment may be made all or in part with Shares that have
     already been owned by the Optionee or the Optionee's representative for
     more than six months and that are surrendered to the Company in good form
     for transfer. Such Shares shall be valued at their Fair Market Value on the
     date when the new Shares are purchased under the Plan.

          (ii)   Payment may be made all or in part by the delivery (on a form
     prescribed by the Company) of an irrevocable direction to a securities
     broker approved by the Company to sell Shares and to deliver all or part of
     the sales proceeds to the Company in payment of all or part of the Exercise
     Price and any withholding taxes.

          (iii)  Payment may be made all or in part by the delivery (on a form
     prescribed by the Company) of an irrevocable direction to pledge Shares to
     a securities broker or lender approved by the Company, as security for a
     loan, and to deliver all or part of the

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     loan proceeds to the Company in payment of all or part of the Exercise
     Price and any withholding taxes.

     (e)  Vesting.  Each Option granted under Subsection (b) above shall become
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exercisable (i) as to one-fourth (1/4) of the total number of shares covered by
such Option on the first anniversary of the date of grant and (ii) as to one-
forty-eighth (1/48) of the total number of shares covered by such Option on each
of a series of thirty-six (36) monthly installments thereafter. Except as set
forth in the next succeeding sentence and in the last sentence of this
Subsection (e), each Option granted under Subsection (c) above shall become
exercisable in full on the first anniversary of the date of grant. Except as set
forth in the last sentence of this Subsection (e), each Option granted under
Subsection (c) to Nonemployee Directors who were not initially elected at a
regular annual meeting of the Company's stockholders shall become exercisable in
full at the next regular annual meeting of the Company's stockholders following
the date of grant. Notwithstanding the foregoing, each Option granted under
Subsection (c) above that is outstanding shall become exercisable in full in the
event that a Change in Control occurs with respect to the Company.

     (f)  Term of Options. Subject to Subsections (g) and (h) below, each Option
          ---------------
shall expire on the 10th anniversary of the date when such Option was granted.

     (g)  Termination of Service (Except by Death). If an Optionee's Service
          ----------------------------------------
terminates for any reason other than death, then his or her Options shall expire
on the earliest of the following occasions:

          (i)    The expiration date determined pursuant to Subsection (f)
     above;

          (ii)   The date 24 months after the termination of the Optionee's
     Service, if the termination occurs because of his or her Total and
     Permanent Disability; or

          (iii)  The date six months after the termination of the Optionee's
     Service for any reason other than Total and Permanent Disability.

The Optionee may exercise all or part of his or her Options at any time before
the expiration of such Options under the preceding sentence, but only to the
extent that such Options had become exercisable before his or her Service
terminated. The balance of such Options shall lapse when the Optionee's Service
terminates. In the event that the Optionee dies after the termination of his or
her Service but before the expiration of his or her Options, all or part of such
Options may be exercised at any time prior to their expiration by the executors
or administrators of the Optionee's estate or by any person who has acquired
such Options directly from him or her by bequest, inheritance or beneficiary
designation under the Plan, but only to the extent that such Options had become
exercisable before his or her Service terminated.

     (h)  Death of Optionee.  If an Optionee dies while he or she is in Service,
          -----------------
then his or her Options shall expire on the earlier of the following dates:

          (i) The expiration date determined pursuant to Subsection (f) above;
     or

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            (ii)   The date 24 months after his or her death.

All or part of the Optionee's Options may be exercised at any time before the
expiration of such Options under the preceding sentence by the executors or
administrators of his or her estate or by any person who has acquired such
Options directly from him or her by bequest, inheritance or beneficiary
designation under the Plan.

     (i)    Nontransferability.  No Option shall be transferable by the Optionee
            ------------------
other than by will, by written beneficiary designation or by the laws of descent
and distribution. An Option may be exercised during the lifetime of the Optionee
only by the Optionee or by the Optionee's guardian or legal representative. No
Option or interest therein may be transferred, assigned, pledged or hypothecated
by the Optionee during his or her lifetime, whether by operation of law or
otherwise, or be made subject to execution, attachment or similar process.

     (j)    Stockholder Approval. Subsection (e) above notwithstanding, no
            --------------------
Option shall be exercisable under any circumstances unless and until the
Company's stockholders have approved the Plan.

SECTION 5.  MISCELLANEOUS PROVISIONS.

     (a)    No Rights as a Stockholder. An Optionee, or a transferee of an
            --------------------------
Optionee, shall have no rights as a stockholder with respect to any Shares
covered by his or her Option until he or she becomes entitled, pursuant to the
terms of such Option, to receive such Shares. No adjustment shall be made,
except as provided in Section 6.

     (b)    Modification, Extension and Assumption of Options.  Within the
            -------------------------------------------------
limitations of the Plan, the Board of Directors may modify, extend or assume
outstanding Options or may accept the cancellation of outstanding Options
(whether granted by the Company or another issuer) in return for the grant of
new Options for the same or a different number of Shares and at the same or a
different Exercise Price. The foregoing notwithstanding, no modification of an
Option shall, without the consent of the Optionee, impair such Optionee's rights
or increase his or her obligations under such Option.

     (c)    Restrictions on Issuance of Shares. Shares shall not be issued under
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the Plan unless the issuance and delivery of such Shares comply with (or are
exempt from) all applicable requirements of law, including (without limitation)
the Securities Act of 1933, as amended, the rules and regulations promulgated
thereunder, state securities laws and regulations, and the regulations of any
stock exchange on which the Company's securities may then be listed. The Company
may impose restrictions upon the sale, pledge or other transfer of such Shares
(including the placement of appropriate legends on stock certificates) if, in
the judgment of the Company and its counsel, such restrictions are necessary or
desirable in order to achieve compliance with the provisions of the Securities
Act of 1933, as amended, the securities laws of any state or any other law.

     (d)    Withholding Taxes. The Company's obligation to deliver Stock upon
            -----------------
the exercise of an Option shall be subject to any applicable tax withholding
requirements.

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     (e)    No Retention Rights. No provision of the Plan, nor any Option
            -------------------
granted under the Plan, shall be construed as giving any person the right to be
elected as, or to be nominated for election as, a Nonemployee Director or to
remain a Nonemployee Director.

SECTION 6.  ADJUSTMENT OF SHARES.

     (a)    General.  In the event of a subdivision of the outstanding Stock, a
            -------
declaration of a dividend payable in Shares, a declaration of a dividend payable
in a form other than Shares in an amount that has a material effect on the value
of Shares, a combination or consolidation of the outstanding Stock into a lesser
number of Shares, a recapitalization, a spin-off, a reclassification or a
similar occurrence, the Board of Directors shall make appropriate adjustments in
one or more of (i) the number of Options available for future grants under
Section 3, (ii) the number of Shares to be covered by each new Option under
Section 4, (iii) the number of Shares covered by each outstanding Option or (iv)
the Exercise Price under each outstanding Option.

     (b)    Reorganizations. In the event that the Company is a party to a
            ---------------
merger or other reorganization, outstanding Options shall be subject to the
agreement of merger or reorganization. Such agreement shall provide (i) for the
assumption of outstanding Options by the surviving corporation or its parent,
(ii) for their continuation by the Company, if the Company is a surviving
corporation, (iii) for payment of a cash settlement equal to the difference
between the amount to be paid for one Share pursuant to such agreement and the
Exercise Price or (iv) for the acceleration of their exercisability followed by
the cancellation of Options not exercised, in all cases without the Optionees'
consent. Any cancellation shall not occur until after such acceleration is
effective and Optionees have been notified of such acceleration.

     (c)    Reservation of Rights.  Except as provided in this Section 6, an
            ---------------------
Optionee shall have no rights by reason of (i) any subdivision or consolidation
of shares of stock of any class, (ii) the payment of any dividend or (iii) any
other increase or decrease in the number of shares of stock of any class. Any
issue by the Company of shares of stock of any class, or securities convertible
into shares of stock of any class, shall not affect, and no adjustment by reason
thereof shall be made with respect to, the number or Exercise Price of Shares
subject to an Option. The grant of an Option pursuant to the Plan shall not
affect in any way the right or power of the Company to make adjustments,
reclassifications, reorganizations or changes of its capital or business
structure, to merge or consolidate or to dissolve, liquidate, sell or transfer
all or any part of its business or assets.

SECTION 7.  DURATION AND AMENDMENTS.

     (a)    Term of the Plan. The Plan shall become effective on the date of its
            ----------------
adoption by the Board of Directors, subject to approval of the Company's
stockholders. The Plan shall remain in effect until it is terminated under
Subsection (b) below.

     (b)    Right to Amend or Terminate the Plan. The Board of Directors may
            ------------------------------------
amend, suspend or terminate the Plan at any time and for any reason, except that
the provisions of the Plan relating to the amount, price and timing of Option
grants shall not be amended more than

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once in any six-month period. Any amendment of the Plan shall be subject to the
approval of the Company's stockholders to the extent required by applicable
laws, regulations, rules, listing standards or other requirements, including
(without limitation) Rule 16b-3 under the Exchange Act. Stockholder approval
shall not be required for any other amendment of the Plan.

     (c)  Effect of Amendment or Termination.  No Shares shall be issued or sold
          ----------------------------------
under the Plan after the termination thereof, except upon exercise of an Option
granted prior to such termination.  The termination of the Plan, or any
amendment thereof, shall not affect any Option previously granted under the
Plan.

SECTION 8.  EXECUTION.

     To record the amendment of the Plan as of May 1, 2001, the Company has
caused its authorized officer to execute the same.

                                  INCYTE GENOMICS, INC.

                                  By  /s/ Roy A. Whitfield
                                      ___________________________________

                                  Title  Chief Executive Officer
                                         ________________________________

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                                                                   Exhibit 10.15

                             INCYTE GENOMICS, INC.

                       1997 EMPLOYEE STOCK PURCHASE PLAN
                  (as amended and restated February 15, 2001)

     The following constitute the provisions of the 1997 Employee Stock Purchase
Plan of Incyte Genomics, Inc. (formerly Incyte Pharmaceuticals, Inc.), as
amended and restated February 15, 2001.

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

     2.   Definitions.
          -----------

          (a)  "Board" shall mean the Board of Directors of the Company.
                -----
          (b)  "Code" shall mean the Internal Revenue Code of 1986, as amended.
                ----
          (c)  "Common Stock" shall mean the Common Stock, $.001 par value, of
                ------------
Incyte Genomics, Inc.

          (d)  "Company" shall mean Incyte Genomics, Inc. (formerly Incyte
                -------
Pharmaceuticals, Inc.) and, as the context may require, any Designated
Subsidiary of the Company.

          (e)  "Compensation" shall mean all cash salary, wages, commissions and
                ------------
bonuses, but shall not include any imputed income or income arising from the
exercise or disposition of equity compensation.

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

          (g)  "Employee" means an individual paid in a manner that results in
                --------
the issuance of a Form W-2 by the Company, or a Subsidiary, and with respect to
whom the Company or a Designated Subsidiary has withheld income and employment
taxes from that individual's compensation and whose customary employment with
the Company is at least twenty (20) hours per week and more than five (5) months
in any calendar year. An individual who has not been treated as an Employee by
the Company (or Parent or Subsidiary, as applicable) in a particular period
shall not be eligible to participate in the Plan for that period, even if a
government agency, court of law or any person later determines that such
individual is or was a common-law employee during all

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or any portion of that period. For purposes of the Plan, the employment
relationship shall be treated as continuing intact while the individual is on
sick leave or other leave of absence approved by the Company. Where the period
of leave exceeds 90 days and the individual's right to reemployment is not
guaranteed either by statute or by contract, the employment relationship shall
be deemed to have terminated on the 91st day of such leave.

          (h)  "Enrollment Date" shall mean the first day of each Offering
                ---------------
Period.

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

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

                    (1)  If the Common Stock was traded over-the-counter on the
     date in question but was not traded on The Nasdaq Stock Market, then the
     Fair Market Value shall be equal to the mean between the last reported
     representative bid and asked prices quoted for such date by the principal
     automated inter-dealer quotation system on which such series of Stock is
     quoted or, if such series of Stock is not quoted on any such system, by the
     "Pink Sheets" published by the National Quotation Bureau, Inc.;

                    (2)  If the Common Stock was traded on The Nasdaq Stock
     Market, then the Fair Market Value shall be equal to the last reported sale
     price quoted for such date by The Nasdaq Stock Market;

                    (3)  If the Common Stock was traded on a United States stock
     exchange on the date in question, then the Fair Market Value shall be equal
     to the closing price reported for such date by the applicable composite-
     transactions report; and

                    (4)  If none of the foregoing provisions is applicable, then
     the Fair Market Value shall be determined by the Board in good faith on
     such basis as it deems appropriate.

In all cases, the determination of Fair Market Value by the Board shall be
conclusive and binding on all persons.

          (k)  "Offering Periods" shall mean the periods of approximately
                ----------------
twenty-four (24) months during which an option granted pursuant to the Plan may
be exercised, commencing on the first Trading Day on or after May 1 and November
1 of each year and terminating on the last Trading Day in the periods ending
twenty-four months later. The duration and timing of Offering Periods may be
changed pursuant to Section 4 of this Plan.

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

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          (m)  "Purchase Price" shall mean an amount equal to 85% of the Fair
                --------------
Market Value of a share of Common Stock on the Enrollment Date or on the
Exercise Date, whichever is lower.

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

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

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

          (q)  "Trading Day" shall mean a day on which national stock exchanges
                -----------
and The Nasdaq Stock Market (or any successor market system) are open for
trading.

     3.   Eligibility.
          -----------

          (a)  Any Employee who has been employed by the Company for one month
or more on a given Enrollment Date shall be eligible to participate in the Plan.

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

     4.   Offering Periods.  The Plan shall be implemented by consecutive,
          ----------------
overlapping Offering Periods with a new Offering Period commencing on the first
Trading Day on or after May 1 and November 1 each year, or on such other dates
as the Board shall determine, and continuing thereafter until terminated in
accordance with Section 19 hereof. The Board or a committee thereof shall have
the power to change the duration of Offering Periods (including the commencement
dates thereof) and Purchase Periods thereunder with respect to future offerings
without stockholder approval if such

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change is announced at least five (5) days prior to the scheduled beginning of
the first Offering Period to be affected thereafter.

     5.   Participation.
          -------------

          (a)  An eligible Employee may become a participant in the Plan by
completing a subscription agreement authorizing payroll deductions in the form
of Exhibit A to this Plan and filing it with the Company's stock administrator
not later than ten (10) business days prior to the applicable Enrollment Date.

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

     6.   Payroll Deductions.
          ------------------

          (a)  At the time a participant files his or her subscription
agreement, he or she shall elect to have payroll deductions made on each pay day
during the Offering Period in an amount not less than one percent (1%) and a
maximum of ten percent (10%) of the participant's Compensation, with such amount
designated in integral multiples of one percent (1%); provided, however, that
the aggregate of such payroll deductions during any Offering Period shall not
exceed ten percent (10%) of the participant's aggregate Compensation during such
Offering Period.

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

          (c)  A participant may increase the rate of his or her payroll
deductions at the beginning of each Offering Period. Such increase shall take
effect with the first payroll following the beginning of the new Offering
Period. A participant may decrease the rate of his or her payroll deductions
each month, provided that any decrease shall become effective with the first
payroll of the next calendar month. Participants may discontinue his or her
participation in the Plan during the Offering Period, provided the
discontinuation of participation in the Plan shall occur at least ten (10)
business days prior to the next Enrollment Date. A participant must complete and
file with the Company's stock administrator a new subscription agreement
authorizing a change in payroll deduction rate. The Board may, in its
discretion, limit the number of participation rate changes during any Offering
Period. The change in rate shall be effective with the first full applicable
payroll period following the Company's receipt of the new subscription
agreement. A participant's subscription agreement shall remain in effect for
successive Offering Periods unless terminated as provided in Section 10 hereof.

          (d)  Notwithstanding the foregoing, to the extent necessary to comply
with Section 423(b)(8) of the Code and Section 3(b) hereof, a participant's
payroll deductions may be decreased to zero percent (0%) at any time during a
Purchase Period. Payroll deductions shall recommence at the rate provided in
such participant's

                                      -4-
<PAGE>

subscription agreement at the beginning of the first Purchase Period which is
scheduled to end in the following calendar year, unless terminated by the
participant as provided in Section 10 hereof.

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

     7.   Grant of Option.  On the Enrollment Date of each Offering Period, each
          ---------------
eligible Employee participating in such Offering Period shall be granted an
option to purchase on each Exercise Date during such Offering Period (at the
applicable Purchase Price) up to a number of shares of Common Stock determined
by dividing such Employee's payroll deductions accumulated prior to such
Exercise Date and retained in the Participant's account as of the Exercise Date
by the applicable Purchase Price; provided that in no event shall an Employee be
permitted to purchase during each Purchase Period more than eight thousand
(8,000) shares of Common Stock (subject to any adjustment pursuant to Section
18) on the Enrollment Date, and provided further that such purchase shall be
subject to the limitations set forth in Sections 3(b) and 12 hereof. Exercise of
the option shall occur as provided in Section 8 hereof, unless the participant
has withdrawn pursuant to Section 10 hereof. The option shall expire on the last
day of the Offering Period.

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

     9.   Delivery.  As promptly as practicable after each Exercise Date on
          --------
which a purchase of shares occurs, a share certificate or certificates
representing the number of shares of Common Stock so purchased shall be
delivered to a brokerage account designated by the Company and kept in such
account pursuant to a subscription agreement between each participant and the
Company and subject to the conditions described therein which may include a
requirement that shares be held and not sold for

                                      -5-
<PAGE>

certain time periods, or the Company shall establish some other means for such
participants to receive ownership of the shares.

     10.  Withdrawal.
          ----------

          (a)  A participant may withdraw all but not less than all the payroll
deductions credited to his or her account and not yet used to exercise his or
her option under the Plan at any time by giving written notice to the Company in
the form of Exhibit B to this Plan. All of the participant's payroll deductions
credited to his or her account shall be paid to such participant promptly after
receipt of notice of withdrawal and such participant's option for the Offering
Period shall be automatically terminated, and no further payroll deductions for
the purchase of shares shall be made for such Offering Period. If a participant
withdraws from an Offering Period, payroll deductions shall not resume at the
beginning of the succeeding Offering Period unless the participant delivers to
the Company a new subscription agreement.

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

     11.  Termination of Employment.
          -------------------------

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

     12.  Interest.
          --------

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

     13.  Stock.
          -----

          (a)  The maximum number of shares of Common Stock that shall be made
available for sale under the Plan shall be one million two hundred thousand

                                      -6-
<PAGE>

(1,200,000) shares* (which reflects 100% stock dividends paid in November 1997
and August 2000), subject to adjustment upon changes in capitalization of the
Company as provided in Section 18 hereof. If, on a given Exercise Date, the
number of shares with respect to which options are to be exercised exceeds the
number of shares then available under the Plan, the Company shall make a pro
rata allocation of the shares remaining available for purchase in as uniform a
manner as shall be practicable and as it shall determine to be equitable.

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

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

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

     15.  Designation of Beneficiary.
          --------------------------

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

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

     16.  Transferability.  Neither payroll deductions credited to a
          ---------------
participant's account nor any rights with regard to the exercise of an option or
to receive shares under

_______________________
* Subject to the approval of the Company's stockholders at the Annual Meeting of
Stockholders of the Company to be held on June 5, 2001, the maximum number of
shares of Common Stock that shall be made available for sale under the Plan
shall be one million six hundred thousand (1,600,000) shares.

                                      -7-
<PAGE>

the Plan may be assigned, transferred, pledged or otherwise disposed of in any
way (other than by will, the laws of descent and distribution or as provided in
Section 15 hereof) by the participant. Any such attempt at assignment, transfer,
pledge or other disposition shall be without effect, except that the Company may
treat such act as an election to withdraw funds from an Offering Period in
accordance with Section 10 hereof.

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

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

          (a)  Changes in Capitalization. Subject to any required action by the
               -------------------------
stockholders of the Company, the Reserves, the maximum number of shares each
participant may purchase each Purchase Period (pursuant to Section 7), as well
as the Purchase Price per share and the number of shares of Common Stock covered
by each option under the Plan which has not yet been exercised shall be
proportionately adjusted for any increase or decrease in the number of issued
shares of Common Stock resulting from a stock split, reverse stock split, stock
dividend, combination or reclassification of the Common Stock, or any other
increase or decrease in the number of outstanding shares of Common Stock
effected without receipt of consideration by the Company; provided, however,
that conversion of any convertible securities of the Company shall not be deemed
to have been "effected without receipt of consideration." Such adjustment shall
be made by the Board, whose determination in that respect shall be final,
binding and conclusive. Except as expressly provided herein, no issuance by the
Company of shares of stock of any class, or securities convertible into shares
of stock of any class, shall affect, and no adjustment by reason thereof shall
be made with respect to, the number or price of shares of Common Stock subject
to an option.

          (b)  Dissolution or Liquidation. In the event of the proposed
               --------------------------
dissolution or liquidation of the Company, the Offering Periods shall terminate
immediately prior to the consummation of such proposed action, unless otherwise
provided by the Board.

          (c)  Merger or Asset Sale. In the event of a proposed sale of all or
               --------------------
substantially all of the assets of the Company, or the merger of the Company
with or into another corporation, limited liability company or other entity, the
Plan shall terminate upon the date of the consummation of such transaction
unless the plan of merger, consolidation or reorganization provides otherwise,
and any Purchase Periods then in progress shall be shortened by setting a new
Exercise Date (the "New Exercise Date") and any Offering Periods then in
progress shall end on the New Exercise Date. The New Exercise Date shall be
before the date of the Company's proposed sale or merger. The Board shall notify
each participant in writing, at least ten (10) business days prior to the New
Exercise Date, that the Exercise Date for the participant's option has been
changed to the New Exercise Date and that the participant's option shall be
exercised

                                      -8-
<PAGE>

automatically on the New Exercise Date, unless prior to such date the
participant has withdrawn from the Offering Period as provided in Section 10
hereof. The Plan shall in no event be construed to restrict the Company's right
to undertake any liquidation, dissolution, merger, consolidation or other
reorganization.

     19.  Amendment or Termination.
          ------------------------

          (a)  The Board of Directors of the Company may at any time and for any
reason terminate or amend the Plan. Except as provided in Section 18 hereof, no
such termination can affect options previously granted, provided that an
Offering Period may be terminated by the Board of Directors on any Exercise Date
if the Board determines that the termination of the Plan is in the best
interests of the Company and its stockholders. Except as provided in Section 18
hereof, no amendment may make any change in any option theretofore granted which
adversely affects the rights of any participant. To the extent necessary to
comply with Section 423 of the Code (or any successor rule or provision or any
other applicable law, regulation or stock exchange rule), the Company shall
obtain stockholder approval in such a manner and to such a degree as required.

          (b)  Without stockholder consent and without regard to whether any
participant rights may be considered to have been "adversely affected," the
Board (or its committee) shall be entitled to change the Offering Periods, limit
the frequency and/or number of changes in the amount withheld during an Offering
Period, establish the exchange ratio applicable to amounts withheld in a
currency other than U.S. dollars, permit payroll withholding in excess of the
amount designated by a participant in order to adjust for delays or mistakes in
the Company's processing of properly completed withholding elections, establish
reasonable waiting and adjustment periods and/or accounting and crediting
procedures to ensure that amounts applied toward the purchase of Common Stock
for each participant properly correspond with amounts withheld from the
participant's Compensation, and establish such other limitations or procedures
as the Board (or its committee) determines in its sole discretion advisable
which are consistent with the Plan.

                                      -9-
<PAGE>

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

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

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

     22.  Term of Plan. The Plan, as amended and restated, shall become
          ------------
effective upon the Effective Date. It shall continue until February 27, 2007
unless sooner terminated under Section 19 hereof.

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

     24.  Execution. To record the amendment and restatement of the Plan by the
          ---------
Board of Directors as of the date written above, the Company has caused its
authorized officer to execute the same.

                                        INCYTE GENOMICS, INC.

                                        By:  /s/ Roy A. Whitfield
                                             ____________________________

                                        Its: Chief Executive Officer
                                             ____________________________

                                      -10-
<PAGE>

                                   EXHIBIT A
                                   ---------

                             INCYTE GENOMICS, INC.
                       1997 EMPLOYEE STOCK PURCHASE PLAN
                            SUBSCRIPTION AGREEMENT

                                                Enrollment Date: _______________

____  Original Application

____  Change in Payroll Deduction Rate (Effective Date:_________)

____  Change of Beneficiary(ies)

(1)  I, ___________________________ hereby elect to participate in the Incyte
     Genomics, Inc. 1997 Employee Stock Purchase Plan (the "Employee Stock
     Purchase Plan") and subscribe to purchase shares of the Company's Common
     Stock in accordance with this Subscription Agreement and the Employee Stock
     Purchase Plan.

(2)  I hereby authorize payroll deductions from each paycheck in the amount of
     ___% of my Compensation (as defined in the Employee Stock Purchase Plan) on
     each payday (from 1 to 10%) during the Offering Period in accordance with
     the Employee Stock Purchase Plan.  (Please note that no fractional
     percentages are permitted.)

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

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

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

     Name(s) ______________________________________________.

     Delivery Instructions ________________________________

     ______________________________________________________.

                                      A-1
<PAGE>

(6)  I understand that if I dispose of any shares received by me pursuant to the
     Plan within 2 years after the Enrollment Date (the first day of the
     Offering Period during which I purchased such shares) or one year after the
     Exercise Date. I will be treated for federal income tax purposes as having
     received ordinary income at the time of such disposition in an amount equal
     to the excess of the fair market value of the shares at the time such
     shares were purchased by me over the price which I paid for the shares. I
                                                                             -
     hereby agree to notify the Company in writing within 30 days after the date
     ---------------------------------------------------------------------------
     of any disposition of my shares and I will make adequate provision for
     ----------------------------------------------------------------------
     Federal, state or other tax withholding obligations, if any, which arise
     ------------------------------------------------------------------------
     upon the disposition of the Common Stock.  The Company may, but will not be
     ----------------------------------------
     obligated to, withhold from any compensation the amount necessary to meet
     any applicable withholding obligation including any withholding necessary
     to make available to the Company any tax deductions or benefits
     attributable to sale or early disposition of Common Stock by me.  If I
     dispose of such shares at any time after the expiration of the 2-year and
     1-year holding periods, I understand that I will be treated for federal
     income tax purposes as having received income only at the time of such
     disposition, and that such income will be taxed as ordinary income only to
     the extent of an amount equal to the lesser of (1) the excess of the fair
     market value of the shares at the time of such disposition over the
     purchase price which I paid for the shares; or (2) 15% of the fair market
     value of the shares on the first day of the Offering Period.  The remainder
     of the gain, if any, recognized on such disposition will be taxed as
     capital gain.

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

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

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

_______________________________                ________________________________
        (Relationship)

                                               ________________________________
                                                           (Address)

Employee's Social Security Number: ____________________________________________

Employee's Address:____________________________________________________________

                                      A-2
<PAGE>

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

Dated: ____________________________           _________________________________
                                                     Signature of Employee

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

                                      A-3
<PAGE>

                                   EXHIBIT B
                                   ---------

                             INCYTE GENOMICS, INC.

                       1997 EMPLOYEE STOCK PURCHASE PLAN

                              NOTICE OF WITHDRAWAL

          The undersigned participant in the Offering Period of the Incyte
Genomics, Inc. 1997 Employee Stock Purchase Plan which began on ____________,
20____ (the "Enrollment Date") hereby notifies the Company that he or she hereby
withdraws from the Offering Period.  He or she hereby directs the Company to pay
to the undersigned as promptly as practicable all the payroll deductions
credited to his or her account with respect to such Offering Period. The
undersigned understands and agrees that his or her option for such Offering
Period will be automatically terminated.  The undersigned understands further
that no further payroll deductions will be made for the purchase of shares in
the current Offering Period and the undersigned shall be eligible to participate
in succeeding Offering Periods only by delivering to the Company a new
Subscription Agreement.

                                             Name and Address of Participant:

                                             ________________________________

                                             ________________________________

                                             ________________________________

                                             Signature:

                                             ________________________________

                                             Date:___________________________

                                      B-1

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