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EXHIBIT 10.1    
  

SoftCare, Inc.

1999 Combined Incentive and Nonqualifed

Stock Option Plan  

        1.    Purpose.    The purpose of the SoftCare, Inc. 1999 Combined Incentive and Nonqualified Stock Option Plan
(the "Plan") is to enable SoftCare, Inc. (the "Company") to attract and retain the services of people with training, experience and ability and to provide additional incentive to such persons
by granting them an opportunity to participate in the ownership of the Company. 

        2.    Stock Subject to Plan.    The stock subject to this Plan shall be the Company's common stock, par value $0.01
per share (the "Common Stock"), presently authorized but unissued or subsequently acquired by the Company. Subject to adjustment as provided in Section 10, the aggregate amount of Common Stock
reserved for issuance or delivery upon exercise of all options granted under this Plan shall not exceed 250,000 shares of Common Stock, as constituted on date of adoption of this Plan by the Board of
Directors. If any option granted under this Plan shall expire or terminate for any reason without having been exercised in full, the unpurchased shares subject thereto shall thereupon again be
available for purposes of this Plan, including for replacement options which may be granted in exchange for such expired, surrendered, exchanged, canceled or terminated options. 

        3.    Administration.    The Plan shall be administered by the Board of Directors of the Company, in accordance with
the following terms and conditions: 

        (a)    General Authority.    Subject to the express provisions of the Plan, the Board of Directors shall have the
authority, in its discretion, to determine all matters relating to options to be granted under the Plan, including the selection of individuals to be granted options, the number of shares to be
subject to each option, the exercise price, the term, whether such options shall be immediately exercisable or shall become exercisable in increments over time, and all other terms and conditions
thereof. Grants under this Plan to persons eligible need not be identical in any respect, even when made simultaneously. The Board of Directors may from time to time adopt rules and regulations
relating to the administration of the Plan. The interpretation and construction by the Board of Directors of any terms or provisions of this Plan or any option issued hereunder, or of any rule or
regulation promulgated in connection herewith, shall be conclusive and binding on all interested parties. The Board of Directors in its sole
discretion, may grant incentive stock options ("Incentive Stock Options") as such term is defined in Section 422 of the Internal Revenue Code of 1986, as amended, (the "Code") and/or
nonqualified stock options ("Nonqualified Stock Options"). A Nonqualified Stock Option is a stock option which is not an Incentive Stock Option. The type of option granted, whether an Incentive Stock
Option or a Nonqualified Stock Option shall be clearly identified by the Board of Directors when granted. The term option when used in this Plan should refer to Incentive Stock Options and
Nonqualified Stock Options, collectively. 

        (b)    Directors.    A member of the Board of Directors may be eligible to participate in or receive or hold options
under this Plan; provided, however, that no member of the Board of Directors shall vote with respect to the granting of an option hereunder to himself or' herself, as the case may be. 

        (c)    Delegation to a Committee.    Notwithstanding the foregoing, the Board of Directors, if it so determines, may
delegate to a committee of the Board of Directors any or all authority for the administration of the Plan, and thereafter references to the Board of Directors in this Plan shall be deemed to be
references to the committee to the extent provided in the resolution establishing the committee. With respect to grants made under this Plan to individuals who are subject to Section 16 of the
Securities Exchange Act of 1934, as amended (the "1934 Act"), the administrator of this Plan shall be constituted at all times so as to meet the requirements of Rule 16b-3 

promulgated under Section 16(b) of the 1934 Act if any of the Company's equity securities are registered pursuant to Section 12(b) or 12(g) of the 1934 Act. 

        (d)    Persons Subject to Section 16(b).    It is the intention of the Company that, if any of the Company's
equity securities are registered pursuant to Section 12(b) or 12(g) of the 1934 Act, this Plan shall comply in all respects with Rule 16b-3 under the 1934 Act.
If any Plan provision is later found not to be in compliance with such Section, the provision shall be deemed null and void, and in all events this Plan shall be construed in favor of it meeting the
requirements of Rule 16b-3. Notwithstanding anything in the Plan to the contrary, the Board of Directors, in its absolute discretion, may bifurcate the Plan so as to restrict, limit
or condition the use of any provision of the Plan to participants who are officers and directors subject to Section 16(b) of the 1934 Act without so restricting, limiting or conditioning
the Plan with respect to other participants. 

        (e)    Replacement of Options.    The Board of Directors, in its absolute discretion, may grant options subject to the
condition that options previously granted at a higher or lower exercise price under the Plan be cancelled or exchanged in connection with such grant. The number of shares covered by the new options,
the exercise price, the term and the other terms and conditions of the new option, shall be determined in accordance with the Plan and may be different from the provisions of the cancelled or
exchanged options. Alternatively, the Board of Directors may, with the agreement of the Optionee, amend previously granted options to establish the exercise price at the then current fair market value
of the Company's Common Stock. 

        (f)    Loans to Optionees.    The Board of Directors, in its absolute discretion, may provide that the Company loan to
Optionees sufficient funds to exercise any option granted under the Plan and/or to pay withholding tax due upon exercise of such option. The Board of Directors shall have the authority to make such
determinations at the time of grant or exercise and shall establish repayment terms thereof, including installments, maturity and interest rate. 

        4.    Eligibility.    Options may be granted only to persons who, at the time the option is granted, are employees,
directors, consultants or independent contractors of the Company or any of its present or future parent or subsidiary corporations (as those terms are used in Section 422A(a)(2) and
(d)(1) and Section 425(e) and (f) of the Code, hereafter a "Parent" or "Subsidiary"). Any individual to whom an option is granted under this Plan shall be referred to
hereinafter as "Optionee". Any Optionee may receive one or more grants of options as the Board of Directors as shall from time to time determine, and such determinations may be different as to
different Optionees and may vary as to different grants. Optionees who are not employees will only be eligible to receive Nonqualified Stock Options. 

        5.    Terms and Conditions of Options.    Options granted under this Plan shall be evidenced by written agreements
which shall contain such terms, conditions, limitations and restrictions as the Board of Directors shall deem advisable and which are not inconsistent with this Plan. Each option granted hereunder
shall clearly indicate whether it is an Incentive Stock Option or a Nonqualified Stock Option. Notwithstanding the foregoing, all such options shall include or incorporate by reference the following
terms and conditions: 

        (a)    Number of Shares.    The maximum number of shares that may be purchased pursuant to the exercise of each option
and the price per share at which such option is exercisable (the "exercise price") shall be as established by the Board of Directors, provided, however, that the maximum number of shares with respect
to which an option or options may be granted to any Optionee in any one fiscal year of the Company shall not exceed 500,000 shares, except that the Company may make an additional one-time
grant of up to 200,000 shares to newly hired employees (the "Maximum Annual Optionee Grant"); and provided that the exercise price of Incentive Stock Options shall not be less than the fair market
value per share of the Common Stock at the time the option is granted, as determined in good faith by the Board of Directors. The exercise price of Nonqualified Stock Options may be greater or less
than the fair market value per share of the Common Stock at the time the option is granted. 

        (b)    Duration of Options.    Subject to the restrictions contained in Section 9, the term of each option
shall be established by the Board of Directors and, if not so established, shall be ten years from the date it is granted, but in no event shall the term of any Incentive Stock Option exceed
ten years. 

        (c)    Exercisability.    Each option shall prescribe the installments, if any, in which an option granted under the
Plan shall become exercisable. The Board of Directors, in its absolute discretion, may waive or accelerate any installment requirement contained in outstanding options. In no case may an option be
exercised as to less than 50 shares at any one time (or the remaining shares covered by the option if less than 50) during the term of the option. Only whole shares shall be issued pursuant to
the exercise of any option. 

        (d)    Incentive Stock Option.    Any option which is issued as an Incentive Stock Option under this Plan, shall,
notwithstanding any other provisions of this Plan or the option terms to the contrary, contain all of the terms, conditions, restrictions, rights and limitations required to be an Incentive Stock
Option, and any provision to the contrary shall be disregarded. The Board of Directors may require an Optionee to give the Company prompt notice of any disposition of shares of Common Stock acquired
by the exercise of an Incentive Stock Option prior to the expiration of two years after the date of grant of the option and one year from the date of exercise. 

        6.    Nontransferability of Options.    Options granted under this Plan and the rights and privileges conferred hereby
may not be transferred, assigned, pledged or hypothecated in any manner (whether by operation of law or otherwise) other than by will or the applicable laws of descent and distribution, and shall not
be subject to execution, attachment or similar process. Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of any option under this Plan or any right or privilege conferred
hereby, contrary to the provisions hereof, or upon the sale or levy or any attachment or similar process, such option thereupon shall terminate and become null and void. During an Optionee's lifetime,
any options granted under this Plan are personal to him or her and are exercisable solely by such Optionee. Notwithstanding the foregoing, to the extent permitted by Rule 16b-3
under the 1934 Act and other applicable law and regulation, the Company may permit an Optionee to, during the Optionee's lifetime, designate a person who may exercise the option after the Optionee's
death by giving written notice of such designation to the Company (such designation may be changed from time to time by the Optionee by giving written notice to the Company revoking any earlier
designation and making a new designation). 

        7.    Certain Limitations Regarding Incentive Stock Options.    The grant of Incentive Stock Options shall be subject
to the following special limitations: 

        (a)    Limitation on Amount of Grants.    As to all Incentive Stock Options granted under the terms of this Plan, to
the extent that the aggregate fair market value of the stock (determined at the time the Incentive Stock Option is granted) with respect to which Incentive Stock Options are exercisable for the first
time by the Optionee during any calendar year (under this Plan and all other incentive stock option plans of the Company, a related corporation or a predecessor corporation) exceeds $100,000, such
options shall be treated as Nonqualified Stock Options. The previous sentence shall not apply if the Internal Revenue Service issues a public rule, issues a private ruling to the Company, any Optionee
or any legatee, personal representative or distributee of an Optionee or issues regulations changing or eliminating such annual limit. No such limitation shall apply to Nonqualified Stock Options. 

        (b)    Grants to 10% Shareholders.    Incentive Stock Options may be granted a person owning more than 10% of the
total combined voting power of all classes of stock of the Company and any Parent or Subsidiary only if (i) the exercise price is at least 110% of the fair market value of the stock at the time
of grant, and (ii) the option is not exercisable after the expiration of five years from the date of grant. 

        8.    Exercise of Options.    Options shall be exercised in accordance with the following terms and conditions: 

        (a)    Procedure.    Options shall be exercised by delivery to the Company of written notice of the number of shares
with respect to which the option is exercised. 

        (b)    Payment.    Payment of the option price shall be made in full within 5 business days of the notice of
exercise of the option and shall be in cash or bank-certified or cashier's checks, or personal check if permitted by the Board of Directors. To the extent permitted by applicable laws and
regulations (including, but not limited to, federal tax and securities laws and regulations), an option may be exercised by delivery of shares of Common Stock of the Company held by the Optionee
having a fair market value equal to the exercise price, such fair market value to be determined in good faith by the Board of Directors. Such payment in stock may occur in the context of a single
exercise of an option or successive and simultaneous exercises, sometimes referred to as "pyramiding", which provides that, rather than physically exchanging certificates for a series of exercises,
bookkeeping entries will be made pursuant to which the Optionee is permitted to retain his existing stock certificate and a new stock certificate is issued for the net shares. 

        If
the Company's Common Stock is registered under the 1934 Act, and if permitted by the Board of Directors, and to the extent permitted by applicable laws and regulations, (including,
but not limited to, federal tax and securities laws and regulations) an option also may be exercised by delivery of a properly executed exercise notice together with irrevocable instructions to a
broker to promptly deliver to the Company the amount of sale or loan proceeds to pay the exercise price. 

        (c)    Federal Withholding Tax Requirements.    Upon exercise of an option, the Optionee shall, upon notification of
the amount due and prior to or concurrently with the delivery of the certificates representing the shares, pay to the Company amounts necessary to satisfy applicable federal, state and local
withholding tax requirements or shall otherwise make arrangements satisfactory to the Company for such requirements. In order to implement this provision, the Company or any related corporation shall
have the right to retain and withhold from any payment of cash or Common Stock under this Plan the amount of taxes required by any government to be withheld or otherwise deducted and paid with respect
to such payment. At its discretion, the Company may require an Optionee receiving shares of Common Stock to reimburse the Company for any such taxes required to be withheld by the Company and withhold
any distribution in whole or in part until the Company is so reimbursed. In lieu thereof, the Company shall have the right to withhold from any other cash amounts due or to become due from the Company
to the Optionee an amount equal to such taxes. The Company may also retain and withhold or the Optionee may elect, subject to approval by the Company at its sole discretion, to have the Company retain
and withhold a number of shares having a market value not less than the amount of such taxes required to be withheld by the Company to reimburse the Company for any such taxes and cancel (in whole or
in part) any such shares so withheld. 

        9.    Termination of Employment, Disability and Death.    

        (a)    General.    If the employment of the Optionee by the Company, a Parent or a Subsidiary shall terminate by
retirement or for any reason other than death, disability or cause as hereinafter provided, the option may be exercised by the Optionee at any time prior to the expiration of three months after
the date of such termination of employment (unless by its terms the option sooner terminates or expires), but only if, and to the extent the Optionee was entitled to exercise the option at the date of
such termination. 

        (b)    Disability.    If the employment of the Optionee by the Company, a Parent or a Subsidiary is terminated because
of the Optionee's disability (as herein defined), the option may be exercised by the Optionee at any time prior to the expiration of one year after the date of such termination (unless by its terms
the option sooner terminates or expires), but only if, and to the extent the Optionee was entitled to exercise the option at the date of such termination. For purposes of this 

section, an Optionee will be considered to be disabled if the Optionee is unable to engage in any substantial gainful activity by reason of any medically determinable mental or physical impairment
which can be expected to result in death or which has lasted or can be expected to last a continuous period of not less than 12 months. 

        (c)    Death.    In the event of the death of an Optionee while in the employ of the Company, a Parent or a
Subsidiary, the option shall be exercisable on or prior to the expiration of one year after the date of such death (unless by its terms the option sooner terminates and expires), but only if and to
the extent the Optionee was entitled to exercise the option at date of such death and only by the Optionee's personal representative if then subject to administration as part of the Optionee's estate,
or by the person or persons to whom such Optionee's rights under the option shall have passed by the Optionee's will or by the applicable laws of descent and distribution. 

        (d)    Termination for Cause.    If the Optionee's employment with the Company, a Parent or a Subsidiary is terminated
for cause, any option granted hereunder shall automatically terminate as of the first advice or discussion thereof, and such Optionee shall thereupon have no right to purchase any shares pursuant to
such option. "Termination for Cause" shall mean dismissal for dishonesty, conviction or confession of a crime punishable by law (except minor violations), intoxication while at work, fraud, misconduct
or disclosure of confidential information. 

        (e)    Waiver or Extension of Time Periods.    The Board of Directors shall have the authority, prior to or within the
times specified in this Section 9 for the exercise of any such option, to extend such time period or waive in its entirety any such time period to the extent that such time period expires prior
to the expiration of the term of such option. In addition, the Board of Directors may grant, pursuant to a specific resolution adopted at the time of grant, modify or eliminate the time periods
specified in this
Section 9. However, no Incentive Stock Option may be exercised after the expiration of ten (10) years from the date such option is granted. If an Optionee holding an Incentive Stock
Option exercises such option, by permission, after the expiration of the various time periods specified in this Section 9, and by virtue of such exercise the option is no longer treated as an
Incentive Stock Option under the Code, such Option shall automatically be converted into a Nonqualified Stock Option. 

        (f)    Termination of Options.    To the extent that the option of any deceased Optionee or of any Optionee whose
employment is terminated shall not have been exercised within the limited periods prescribed in this Section 9, all further rights to purchase shares pursuant to such option shall cease and
terminate at the expiration of such period. No Incentive Stock Option may be exercised after the expiration of ten (10) years from the date such option is granted, notwithstanding any provision
to the contrary. 

        (g)    Non-employee Optionees.    Options granted to Optionees who are not employees of the Company, a
Parent or a Subsidiary at the time of grant shall not be subject to the provisions of this Section 9, except as specifically provided in the option. 

        10.    Option Adjustments.    

        (a)    Adjustments Upon Changes in Capitalization.    The aggregate number and class of shares on which options may be
granted under this Plan, the Maximum Annual Optionee Grant set forth in Section 5.1, the number and class of shares covered by each outstanding option and the exercise price per share thereof
(but not the total price), and all such options, shall each be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock of the Company resulting from a
split-up, spin-off or consolidation of shares or any like capital adjustment, or the payment of any stock dividend. 

        (b)    Effect of Certain Transactions.    Except as provided in subsection 10.3, upon a merger, consolidation,
acquisition of property or stock, separation, reorganization (other than a merger or reorganization of the Company in which the holders of Common Stock immediately prior to the merger or
reorganization have the same proportionate ownership of Common Stock in the surviving corporation immediately after the merger or reorganization) or liquidation of the 

Company, as a result of which the shareholders of the Company receive cash, stock or other property in exchange for their shares of Common Stock, any option granted hereunder shall terminate, but,
provided that the Optionee shall have the right immediately prior to any such merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation to exercise his or her
option in whole or in part whether or not the vesting requirements set forth in the option agreement have been satisfied. 

        (c)    Conversion of Options on Stock for Stock Exchange.    If the shareholders of the Company receive capital stock
of another corporation ("Exchange Stock") in exchange for any portion of their shares of Common Stock in any transaction involving a merger, consolidation, acquisition of property or stock, separation
or reorganization (other than a merger or reorganization of the Company in which the holders of Common Stock immediately prior to the merger or reorganization have the same proportionate ownership of
Common Stock in the surviving corporation immediately after the merger or reorganization), all options granted hereunder shall terminate in accordance with the provision of subsection 10.2
unless provision is made in writing in connection with such transaction for the assumption of such options by the issuer of the Exchange Stock or the substitution for such options of new options
covering shares of the issuer of the Exchange Stock. In such event, the amount and price of the assumed or substituted options shall be determined by adjusting the amount and price of the options
granted hereunder in the same proportion as used for determining the number of shares of Exchange Stock the holders of the Common Stock receive in such merger, consolidation, acquisition of property
or stock, separation or reorganization. The vesting schedule set forth in the option agreement shall continue to apply to the options granted for the Exchange Stock. 

        (d)    Fractional Shares.    In the event of any adjustment in the number of shares covered by any option, any
fractional shares resulting from such adjustment shall be disregarded and each such option shall cover only the number of full shares resulting from such adjustment. 

        (e)    Determination of Board of Directors to be Final.    All such adjustments shall be made by the Board of
Directors and its determination as to what adjustments shall be made, and the extent thereof, shall be final, binding and conclusive. 

        11.    Securities Regulations.    

        (a)    Compliance.    Shares shall not be issued with respect to an option granted under this Plan unless the exercise
of such option and the issuance and delivery of such shares pursuant thereto shall comply with all relevant provisions of law, including, without limitation, any applicable state securities laws, the
Securities Act of 1933, as amended, (the "1933 Act") the rules and regulations promulgated thereunder, and the requirements of NASDAQ or any stock exchange upon which the shares may then be listed,
and shall further be subject to the approval of counsel for the Company with respect to such compliance. Inability of the Company to obtain from any regulatory body having jurisdiction, the authority
deemed by the Company's counsel to be necessary for the lawful issuance and sale of any shares hereunder, shall relieve the Company of any liability in respect of the nonissuance or sale of such
shares as to which such requisite authority shall not have been obtained. 

        (b)    Representations by Optionee.    As a condition to the exercise of an option, the Company may require the
Optionee 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 representation is required by any relevant provision of the laws referred to in Section 11.1. At the option of the Company, a stop transfer order
against any shares of stock may be placed on the official stock books and records of the Company, and a legend indicating that the stock may not be pledged, sold or otherwise transferred unless an
opinion of counsel
was provided (concurred in by counsel for the Company) stating that such transfer is not in violation of any applicable law or regulation, may be stamped on the stock certificate in order to assure
exemption from registration. The Board of Directors may also require such other action or agreement by the Optionees as may from time to time be 

necessary to comply with the federal and state securities laws. This provision shall not obligate the Company to undertake registration of options or stock hereunder. 

        (c)    Market Standoff.    If in connection with any public offering of securities of the Company (or any successor
entity), the underwriter or underwriters managing such offering so request, then each Optionee will agree to not sell or otherwise transfer any shares acquired upon the exercise of such options (other
than shares included in such underwriting) without the prior written consent of such underwriter, for such period of time as may be requested by the underwriter (not to exceed 180 days)
commencing on the effective date of the registration statement filed with the Securities and Exchange Commission in connection with such offering. 

        12.    Employment Rights.    Nothing in this Plan or any option or right granted pursuant hereto shall confer upon any
Optionee any right to be continued in the employment or service of the Company, a Parent or any Subsidiary of the Company or to remain a director, or to interfere in any way with the right of the
Company, a Parent or any Subsidiary, in its sole discretion, to terminate such Optionee's employment or service at any time or to remove the Optionee as a director at any time. 

        13.    Amendment and Termination.    

        (a)    Action by Shareholders.    The Plan may be terminated, modified or amended by the shareholders of the Company. 

        (b)    Action by Board of Directors.    The Board of Directors may at any time suspend, amend or terminate this Plan,
provided that, to the extent required for compliance with Rule 16b-3 promulgated under Section 16(b) of the 1934 Act, Section 422 of the Code or by any
applicable law or regulation, the Company's shareholders must approve any amendment which will: 

        (i)    Increase
the number of shares in the aggregate which may be sold pursuant to options granted under the Plan; 

        (ii)  Materially
increase the benefits accruing to participants under the Plan; or 

        (iii)  Change
the terms of the Plan which causes the Plan to lose its qualification as an incentive stock option plan under Section 422 of the Code. 

        No
termination, suspension or amendment of the Plan may, without the consent of each Optionee to whom any option shall theretofore have been granted, adversely affect the rights of such
Optionees under such options. 

        (c)    Automatic Termination.    Unless the Plan shall theretofore have been terminated as herein provided, this Plan
shall terminate ten (10) years from the earlier of: (i) the date on which the Plan is adopted; or (ii) the date on which this Plan is approved by the shareholders of the Company.
No option may be granted after such termination, or during any suspension of this Plan. The amendment or termination of this Plan shall not, without the consent of the Optionee, alter or impair any
rights or obligations under any option theretofore granted under this Plan. 

        14.    Company Right of Repurchase.    

        (a)    Scope of Repurchase Rights.    Options granted to Optionees who are employees of the Company, a Parent or
Subsidiary at the time of grant and shares of Common Stock issued upon exercise of such Options shall be subject to the provisions of this Section 14. This Section 14 shall terminate and
be of no further force and effect upon either the (i) closing of the first sale of securities of the Company or of any successor entity, to the public pursuant to an effective registration
statement filed with the Securities and Exchange Commission under the 1933 Act, or (ii) the registration of any securities of the Company or any successor entity pursuant to
Section 12(b) or 12(g) of the 1934 Act. 

        (b)    Company Rights.    Upon an Optionee's termination of employment with the Company for any reason whatsoever, the
Company shall have the absolute right, but not the obligation, to purchase all shares owned by the Optionee which have been acquired by the Optionee pursuant to 

exercise of Options included within the scope of this Section 14. The Company shall have 180 days after the later of (i) the termination of employment of an Optionee or
(ii) the termination of all of an Optionee's Options, in which to notify Optionee of its exercise of its rights under this Section 14. Upon receipt of such notification, such Optionee's
rights to shares of Common Stock issued upon exercise of Options shall terminate and be null and void, such shares of Common Stock shall be cancelled on the books and records of the Company and
Optionee's sole right with regard to such shares shall be the payment of funds to it pursuant to this Section 14. The purchase price to be paid by the Company shall be as determined by
Section 14.3 below. Such purchase price shall be paid in cash in full after the Company has received from Optionee certificates evidencing the shares of Common Stock being purchased. 

        (c)    Purchase Price.    The price of shares of Company Common Stock acquired pursuant to this Section shall
be the fair market value for such shares at the time of termination of employment as determined in good faith by the Company's Board of Directors. Such determination shall be final and binding. 

        15.    Right of First Refusal.    Options granted and the Common Stock acquired upon the exercise of such Options
("Restricted Shares") shall be subject to the following right of first refusal. Prior to the transfer of Restricted Shares by an Optionee, the Optionee shall give the Company written notice ("Notice")
of the proposed transfer, which Notice shall state the number of Restricted Shares proposed to be transferred, the name of proposed purchaser, the proposed purchase price and the proposed terms and
conditions of the transfer. The Company shall have the right to purchase such Restricted Shares on the same terms and conditions as set forth in the Notice, provided that the Company must give the
Optionee written notice of its intention to purchase such Restricted Shares within 45 days from the date of the receipt of such Notice by the Company. If the Company does not elect to purchase
the Restricted Shares, the Optionee may effect the transfer of the Restricted Shares to the purchaser identified in the Notice and upon the terms and conditions set forth in the Notice, provided that
such transfer must be completed within 90 days from the date the Notice was first received by the Company, and further provided that such transfer is otherwise allowable under
Section 11. The terms of this Section 15 shall survive the termination of the Optionee as an employee, director, consultant, or independent contractor of the Company. This
Section 15 shall terminate and be of no further force and effect upon either (i) the closing of the first sale of securities of the Company or of any successor entity, to the public
pursuant to an effective registration statement filed with the Securities and Exchange Commission under the 1933 Act, or (ii) the registration of any securities of the Company or any successor
entity pursuant to Section 12(b) or 12(g) of the 1934 Act. 

        16.    Effective Date of the Plan.    This Plan shall become effective on the date of its adoption by the Board of
Directors of the Company and options may be granted immediately thereafter but no option may be exercised under the Plan unless and until the Plan shall have been approved by the shareholders within
12 months after the date of adoption of the Plan by the Board of Directors. If such approval is not obtained within such period the Plan and any options granted thereunder shall be null and
void. 

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EXHIBIT 10.1<Page>

                                                                  Exhibit 10.53

                         REPUBLIC AIRWAYS HOLDINGS INC.
                        (FKA WEXFORD AIR HOLDINGS INC.)
                            (FKA WEXFORD III CORP.)

                          AMENDED NOTE DUE May 14, 2003

18,879,828.01                                           Dated as of May 15, 2002

         FOR THE VALUE RECEIVED of full satisfaction of principal and
interest due WexAir, LLC by  Republic Airways Holdings Inc. (FKA Wexford Air
Holdings Inc., FKA Wexford III Corp.) under its Note due May 14, 2003, the
undersigned, Republic Airways Holdings Inc. (FKA Wexford Air Holdings Inc.,
FKA Wexford III Corp.) (herein called the "Company"), a corporation organized
and existing under the laws of the State of Delaware, hereby promises to pay
to the order of WexAir, LLC the principal sum of Eighteen Million Eight
Hundred Seventy Nine Thousand, Eight Hundred Twenty Eight Dollars and One
Cent on May 14, 2003, or if such day is a Saturday, Sunday or any day in
which banks located in the State of New York are authorized or obligated to
close, then on the next day which is not a Saturday, Sunday or day in which
banks located in the State of New York are authorized or obligated to close,
or on such earlier date as the Company may specify in written notice to
WexAir, LLC, with interest (computed on the basis of a 360-day year of twelve
30-day months and compounded semiannually) (a) on the unpaid balance thereof
at the rate of 11.5% per annum from the date hereof through and including
July 21, 2002 and at 7.0% thereafter, payable at maturity which interest rate
reflects the increased cash flow needs of the Company and its subsidiaries,
and (b) to the extent permitted by law, on any overdue payment (including any
overdue prepayment) of principal and any overdue payment of interest, payable
as aforesaid (or, at the option of the holder hereof, on demand), at a rate
per annum from time to time equal to the greater of (i) 15% or (ii) 5% over
the rate of interest publicly announced by the Chase Manhattan Bank from time
to time in New York, Now York as its "base" or "prime" rate.

         Payments of principal of and interest on this Note are to be made in
lawful money of the United States of America at the office of the Company or
at such other place as the Company shall have designated by written notice to
the holder of this Note.

         The Company agrees, and the holder agrees, that the indebtedness
evidenced by this Note is subordinate in right of payment, to the extent and
in the manner provided in this paragraph, to the prior payment in full of all
Senior Debt, and that the subordination is for the benefit of the holders of
Senior Debt. "Senior Debt" means any indebtedness for borrowed money, or any
guarantee of such indebtedness, of the Company outstanding at any time except
debt that by its terms is not senior in right of payment to this Note. Upon
any distribution to creditors of the Company in a liquidation or dissolution
of the Company or in a bankruptcy. reorganization, insolvency, receivership
or similar proceeding relating to the Company or its property, (1) holders of
Senior Debt shall be entitled to receive payment in full in cash of the
principal of and interest (including interest accruing after the commencement
of any such proceeding) to the date of payment on the Senior Debt before the
holder shall be entitled to receive any payment of principal

<Page>

of or interest on this Note; and (2) until the Senior Debt is paid in full in
cash, any distribution to which the holder would be entitled but for this
paragraph shall be made to holders of Senior Debt as their interests may
appear. The Company may not pay principal of or interest on this Note and may
not acquire this Note for cash or property other than capital stock of the
Company if a default on Senior Debt occurs and is continuing that permits
holders of such Senior Debt to accelerate its maturity, and if a distribution
is made to the holder that because of this paragraph should not have been
made to it, the holder who receives the distribution shall hold it in trust
for holders of Senior Debt and pay it over to them as their interests may
appear. After all Senior Debt is paid in full and until this Note is paid in
full, the holder shall be subrogated to the rights of holders of Senior Debt
to receive distributions applicable to Senior Debt to the extent that
distributions otherwise payable to the holders have been applied to the
payment of Senior Debt. Nothing in this paragraph shall impair, as between
the Company and the holder, the obligation of the Company, which is absolute
and unconditional, to pay principal of and interest on this Note in
accordance with its terms.

         The Company may prepay this Note, in whole or in part, at any time
together with interest accrued to the date of such prepayment.

         If the Company defaults in the payment of any amount due hereon when
due, and payable, the principal of this Note together with all accrued and
unpaid interest hereon may be declared due and payable by the holder by
notice to the Company.

         This Note, and the rights associated herewith, may be transferred by
the Holder only by surrender to the Maker for reissuance along with
appropriate transfer instructions, The Maker shall reissue this Note as and
when requested by the Holder at any time prior to its maturity in accordance
with those instructions.

                                                 REPUBLIC AIRWAYS HOLDINGS INC.
                                                 (FKA WEXFORD AIR HOLDINGS INC.,
                                                 FKA WEXFORD III CORP.)

                                                 By: /s/ Robert H. Cooper
                                                     -------------------------
                                                 Name:  Robert H. Cooper
                                                 Title: President

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