Document:

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                                                                    EXHIBIT 4.10

                             COMPUWARE CORPORATION

                       2001 Broad Based Stock Option Plan

         1. Definitions: As used in this Plan, the following terms shall have
the following meanings:

                  (a) "Code" shall mean the Internal Revenue Code of 1986, as
         amended, and the applicable rules and regulations thereunder.

                  (b) "Committee" shall mean, (1) with respect to administration
         of this Plan regarding Participants who are subject to Section 16(a)
         and (b) of the Exchange Act, a committee meeting the standards of Rule
         16b-3 of the Rules and Regulations under the Exchange Act, or any
         similar successor rule, appointed by the Board of Directors of the
         Company to perform any of the functions and duties of the Committee
         under this Plan, or the Board of Directors as a whole, and (2) with
         respect to administration of this Plan regarding all other
         Participants, such committee or the Board of Directors of the Company,
         as described in clause (1), or such other committee or entity appointed
         by the Board of Directors of the Company to perform any of the
         functions and duties of the Committee under this Plan.

                  (c) "Common Shares" shall mean the Common Shares, par value
         $0.01 per share, of the Company.

                  (d) "Company" shall mean Compuware Corporation, a Michigan
         corporation, or any successor of Compuware Corporation.

                  (e) "Discretion" shall mean the sole discretion of the
         Committee, with no requirement whatsoever that the Committee follow
         past practices, act in a manner consistent with past practices, or
         treat any employee or director in a manner consistent with the
         treatment afforded other employees or directors with respect to this
         Plan or otherwise.

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

                  (g) "Nonqualified Option" shall mean an option to purchase
         Common Shares which meets the requirements set forth in this Plan but
         is not intended to be, or does not qualify as, an incentive stock
         option within the meaning of the Code.

                  (h) "Participant" shall mean any individual designated by the
         Committee under Paragraph 6 for participation in this Plan.

                  (i) "Plan" shall mean this Compuware Corporation 2001 Broad
         Based Stock Option Plan.

                               Page 10 of 18 Pages

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                  (j) "Securities Act" shall mean the Securities Act of 1933, as
         amended, and the rules and regulations thereunder.

                  (k) "Subsidiary" shall mean any corporation or other entity in
         which the Company has a direct or indirect ownership interest of 50% or
         more of the total combined voting power of all classes of outstanding
         voting equity interests.

         2. Purposes of Plan: The purposes of this Plan are (1) to provide
employees, including officers, and directors of the Company and its Subsidiaries
with an increased incentive to make significant and extraordinary contributions
to the long-term performance and growth of the Company and its Subsidiaries, (2)
to join the interests of employees and directors with the interests of the
shareholders of the Company, and (3) to facilitate attracting and retaining
employees and directors of exceptional ability.

         3. Administration: This Plan shall be administered by the Committee.
Subject to the provisions of this Plan, the Committee shall determine, from
those eligible to be Participants under this Plan, the persons to be granted
stock options, the number of shares of stock to be subject to options granted to
each such person, the time such options shall be granted and the terms and
conditions of any stock options. Such terms and conditions may, in the
Committee's Discretion, include, without limitation, provisions providing for
termination of the option, forfeiture of the gain on any option exercises or
both if the Participant competes with the Company or otherwise acts contrary to
the Company's interests, and provisions imposing restrictions, potential
forfeiture or both on shares acquired upon exercise of options granted pursuant
to this Plan. The Committee may condition any grant on the potential
Participant's agreement to such terms and conditions.

         Subject to the provisions of this Plan, the Committee is authorized to
interpret this Plan, to promulgate, amend and rescind rules and regulations
relating to this Plan and to make all other determinations necessary or
advisable for its administration. Interpretation and construction of any
provision of this Plan by the Committee shall, unless otherwise determined by
the Board of Directors of the Company, be final and conclusive. A majority of
the Committee shall constitute a quorum, and the acts of a majority of the
members present at any meeting at which a quorum is present, or acts approved in
writing by a majority of the Committee, shall be the acts of the Committee.

         4. Indemnification of Committee Members: In addition to such other
rights of indemnification as they may have, the members of the Committee shall
be indemnified by the Company in connection with any claim, action, suit or
proceeding relating to any action taken or failure to act under or in connection
with this Plan or any option granted hereunder to the full extent provided for
under the Company's articles of incorporation or bylaws with respect to
indemnification of directors of the Company; provided, however, that within 60
days after receipt of notice of institution of any such claim, action, suit or
proceeding the Committee member shall offer the Company in writing the
opportunity, at its own cost, to handle and defend such claim, action, suit or
proceeding.

                               Page 11 of 18 Pages

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         5. Maximum Number of Shares Subject to Plan: The maximum number of
shares with respect to which stock options may be granted under this Plan shall
be an aggregate of 50,000,000 Common Shares, which may consist in whole or in
part of authorized and unissued or reacquired Common Shares. Unless this Plan
shall have been terminated, (1) shares covered by the unexercised portion of
canceled, expired or otherwise terminated options under this Plan shall again be
available for option and sale, and (2) shares delivered to the Company, deemed
delivered to the Company, or retained by the Company, in payment of all or any
part of the exercise price of any option granted under this plan or any tax
withholding obligations with respect to options granted under this Plan, shall
again be available for option and sale.

         The number and type of shares subject to each outstanding stock option,
the option price with respect to outstanding stock options, and the aggregate
number and type of shares remaining available under this Plan, shall be subject
to such adjustment as the Committee, in its Discretion, deems appropriate to
reflect such events as stock dividends, stock splits, recapitalizations,
mergers, statutory share exchanges or reorganizations of or by the Company;
provided that no fractional shares shall be issued pursuant to this Plan, no
rights may be granted under this Plan with respect to fractional shares, and any
fractional shares resulting from such adjustments shall be eliminated from any
outstanding option.

         6. Participants: The Committee shall determine and designate from time
to time, in its Discretion, those employees, including officers, and directors
of the Company or any Subsidiary to whom options are to be granted and who
thereby become Participants under this Plan; provided, however, that at any time
from the third anniversary of the adoption of this Plan through the termination
of this Plan, the aggregate number of Common Shares subject to options granted
under this Plan (since its inception and regardless of whether such option still
remains outstanding, has been exercised or has been cancelled) to directors of
the Company and to officers of the Company subject to Section 16(a) and 16(b) of
the Exchange Act shall be less than half of the aggregate number of Common
Shares subject to options granted under this Plan since its inception.

         7. Allotment of Shares: The Committee shall determine and fix the
number of Common Shares to be offered to each Participant; provided, however,
that at any time from the third anniversary of the adoption of this Plan through
the termination of this Plan, the aggregate number of Common Shares subject to
options granted under this Plan (since its inception and regardless of whether
such option still remains outstanding, has been exercised or has been cancelled)
to directors of the Company and to officers of the Company subject to Section
16(a) and 16(b) of the Exchange Act shall be less than half of the aggregate
number of Common Shares subject to options granted under this Plan since its
inception.

         8. Option Price: Subject to the rules set forth in this Paragraph 8,
the Committee, in its Discretion, shall establish the option price at the time
any option is granted. The option price shall be not less than the par value, if
any, of the Common Shares. Fair market value of a share shall be determined by
the Committee using any method it deems reasonable. The option price will be
subject to adjustment in accordance with the provisions of Paragraph 5 of this
Plan.

                               Page 12 of 18 Pages

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         9. Granting and Exercise of Options: Options shall be granted under
this Plan in accordance with determinations made by the Committee pursuant to
the provisions of this Plan, and shall be evidenced by a written agreement
between the Company and the Participant containing such provisions as are
approved by the Committee. Such agreements shall constitute binding contracts
between the Company and the Participant, and every Participant, upon acceptance
of such option, shall be bound by the terms and restrictions of this Plan and of
such agreement. The terms of each such agreement shall be in accordance with
this Plan and subject to its terms, but the agreements may include such
additional provisions and restrictions as are determined by the Committee,
provided that such additional provisions and restrictions are not inconsistent
with the terms of this Plan.

         Each option granted under this Plan shall be a Nonqualified Option.

         Subject to the terms of this Plan, each option granted under this Plan
shall be exercisable at any such time or times or in any such installments as
may be determined by the Committee in its Discretion. Notwithstanding any other
term or provision of this Plan, in connection with a Participant ceasing to be
an employee or director of the Company or a Subsidiary for any reason, the stock
option agreement may provide for the acceleration of, or the Committee may
accelerate, in its Discretion (exercised at the date of the grant of the stock
option or after the date of grant), in whole or in part, the time or times or
installments with respect to which any option granted under this Plan shall be
exercisable in connection with termination of a Participant's employment with
the Company or a Subsidiary, subject to any restrictions, terms and conditions
fixed by the Committee either at the date of the award or at the date it
exercises such Discretion. Except as provided in Paragraph 13, options may be
exercised only while the Participant is an employee or director of the Company
or a Subsidiary.

         Successive stock options may be granted to the same Participant,
whether or not the option or options previously granted to such Participant
remain unexercised. A Participant may exercise any option granted under this
Plan, if then exercisable, notwithstanding that options granted to such
Participant prior to the option then being exercised remain unexercised.

         10. Payment of Option Price: At the time of the exercise in whole or in
part any option granted under this Plan, payment in full in cash shall be made
by the Participant for all shares so purchased. In the Discretion of, and
subject to such conditions as may be established by, the Committee, payment of
the option price may also be made (1) by the Company retaining from the shares
to be delivered upon exercise of the stock option that number of shares having a
fair market value on the date of exercise equal to the option price of the
number of shares with respect to which the Participant exercises the option, or
(2) by delivery to the Company of written notice of the exercise in such form as
the Committee may prescribe, accompanied by irrevocable instructions to a stock
broker to promptly deliver to the Company full payment for the shares with
respect to which the option is exercised from the proceeds of the stock broker's
sale of or loan against some or all of the shares. No Participant shall have any
of the rights of a shareholder of the Company under any option until the actual
issuance of shares to such Participant, and prior to such issuance no adjustment
shall be made for dividends, distributions or other rights in respect of such
shares, except as provided in Paragraph 5.

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         11. Transferability of Option: Except as otherwise provided in this
Paragraph 11, to the extent determined by the Committee in its Discretion
(either by resolution or by a provision in, or amendment to, the option), (1) no
option granted under this Plan to a Participant shall be transferable by such
Participant otherwise than (a) by will, (b) by the laws of descent and
distribution, or (c) pursuant to a qualified domestic relations order as defined
in the Code or Title I of the Employee Retirement Income Security Act, or the
rules thereunder, and (2) such option shall be exercisable, during the lifetime
of the Participant, only by the Participant.

         The Committee may, in its Discretion, authorize all or a portion of the
options to be granted to an optionee to be on terms which permit transfer by
such optionee to, and the exercise of such option by, (1) the spouse, children
or grandchildren of the optionee ("Immediate Family Members"), (2) a trust or
trusts for the exclusive benefit of such Immediate Family Members, (3) a
partnership in which such Immediate Family Members are the only partners, or (4)
such other persons or entities as determined by the Committee, in its
Discretion, on such terms and conditions as the Committee, in its Discretion,
may determine; provided that (y) the stock option agreement pursuant to which
such options are granted must be approved by the Committee and must expressly
provide for transferability in a manner consistent with this Paragraph 11, and
(z) subsequent transfers of transferred options shall be prohibited except for
transfers the original optionee would be permitted to make (if he or she were
still the owner of the option) in accordance with this Paragraph 11.

         Following transfer, any such options shall continue to be subject to
the same terms and conditions as were applicable immediately before transfer,
provided that for purposes of Paragraphs 9, 10, 14, 16 and 18 the term
"Participant" shall be deemed to refer to the transferee. The events of
termination of employment of Paragraph 13 shall continue to be applied with
respect to the original optionee, following which the options shall be
exercisable by the transferee only to the extent, and for the periods, specified
in Paragraph 13. The original optionee shall remain subject to withholding taxes
and related requirements upon exercise provided in Paragraph 15. The Company
shall have no obligation to provide any notice to any transferee, including,
without limitation, notice of any termination of the option as a result of
termination of the original optionee's employment with, or other service to, the
Company.

         12. Continuance of Employment; No Right to Continued Employment: The
Committee may require, in its Discretion, that any Participant under this Plan
to whom an option shall be granted shall agree in writing as a condition of the
granting of such option to remain in his or her position as an employee or
director of the Company or a Subsidiary for a designated minimum period from the
date of the granting of such option as shall be fixed by the Committee.

         Nothing contained in this Plan or in any option granted pursuant to
this Plan, nor any action taken by the Committee under this Plan, shall confer
upon any Participant any right with respect to continuation of employment or
other service by or to the Company or a Subsidiary nor interfere in any way with
the right of the Company or a Subsidiary to terminate such person's employment
or other service at any time with or without cause.

         13. Termination of Employment and Other Service; Expiration of Options:
Subject to the other provisions of this Plan, including, without limitation,
Paragraph 9 and this

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Paragraph 13, all rights to exercise options shall terminate when a Participant
ceases to be an employee or director of the Company or a Subsidiary for any
cause (i.e., the Participant ceases to hold any of these positions with the
Company), except that the Committee may, in its Discretion, permit the exercise
of all or any portion of the options granted to such Participant for a period
not to extend beyond the expiration date of such options all subject to any
restrictions, terms and conditions fixed by the Committee either at the date of
the award or at the date it exercises such Discretion. In no event, however,
shall an option be exercisable after its expiration date, and, unless the
Committee in its Discretion determines otherwise (pursuant to Paragraph 9), an
option may only be exercised after termination of a Participant's employment or
other service by or to the Company to the extent exercisable on the date of such
termination or to the extent exercisable as a result of the reason for such
termination. The Committee may evidence the exercise of its Discretion under
this Paragraph 13 in any manner it deems appropriate, including by resolution or
by a provision in, or amendment to, the option.

         If not sooner terminated, each stock option granted under this Plan
shall expire not more than 10 years from the date it is granted.

         14. Investment Purpose: If the Committee in its Discretion determines
that as a matter of law such procedure is or may be desirable, it may require a
Participant, upon any exercise of any option granted under this Plan or any
portion thereof and as a condition to the Company's obligation to deliver
certificates representing the shares subject to exercise, to execute and deliver
to the Company a written statement, in form satisfactory to the Committee,
representing and warranting that the Participant's purchase of Common Shares
upon exercise thereof shall be for such person's own account, for investment and
not with a view to the resale or distribution thereof and that any subsequent
sale or offer for sale of any such shares shall be made either pursuant to (a) a
Registration Statement on an appropriate form under the Securities Act, which
Registration Statement has become effective and is current with respect to the
shares being offered and sold, or (b) a specific exemption from the registration
requirements of the Securities Act, but in claiming such exemption the
Participant shall, prior to any offer for sale or sale of such shares, obtain a
favorable written opinion from counsel for or approved by the Company as to the
availability of such exemption. The Company may endorse an appropriate legend
referring to the foregoing restriction upon the certificate or certificates
representing any shares issued or transferred to the Participant upon exercise
of any option granted under this Plan.

         15. Withholding Payments: If upon the exercise of any Nonqualified
Option there shall be payable by the Company or a Subsidiary any amount for
income tax withholding, in the Committee's Discretion, either the Participant
shall pay such amount to the Company, or the amount of Common Shares delivered
by the Company to the Participant shall be appropriately reduced, to reimburse
the Company or such Subsidiary for such payment. The Company or any of its
Subsidiaries shall have the right to withhold the amount of such taxes from any
other sums or property due or to become due from the Company or any of its
Subsidiaries to the Participant upon such terms and conditions as the Committee
shall prescribe. The Company may also defer issuance of the stock upon exercise
of such option until payment by the Participant to the Company of the amount of
any such tax. The Committee may, in its Discretion, permit Participants to
satisfy such withholding obligations, in whole or in part, by electing to have
the

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amount of Common Shares delivered or deliverable by the Company upon
exercise of a stock option appropriately reduced, or by electing to tender
Common Shares back to the Company subsequent to exercise of a stock option to
reimburse the Company for such income tax withholding, subject to such rules and
regulations, if any, as the Committee may adopt. The Committee may make such
other arrangements with respect to income tax withholding as it shall determine.

         16. Accelerated Vesting Upon Acquisition: In the event that the Company
is acquired by a third party, regardless of the form of the acquisition (the
"Acquisition"), the options granted under this Plan shall automatically vest to
any Participant under the Plan who is employed by the Company or a Subsidiary,
or is serving as a non-employee director of the Company or a Subsidiary, on the
effective date of the Acquisition. The "effective date" shall be deemed to be
the closing date of the Company's Acquisition. The value per share of each such
stock option to the Participant shall be the fair market value of the Company's
Common Shares on the effective date of the Acquisition (less the exercise
price).

         17. Effectiveness of Plan: This Plan shall be effective on the date the
Board of Directors of the Company adopts this Plan.

         18. Termination, Duration and Amendments to this Plan: This Plan may be
abandoned or terminated at any time by the Board of Directors of the Company.
Unless sooner terminated, this Plan shall terminate on the date ten years after
its adoption by the Board of Directors, and no stock options may be granted
under this Plan after that date. The termination of this Plan shall not affect
the validity of any option which is outstanding on the date of termination.

         For the purpose of conforming to any changes in applicable law or
governmental regulations, or for any other lawful purpose, the Board of
Directors shall have the right, with or without approval of the shareholders of
the Company, to amend or revise the terms of this Plan or any option agreement
under this Plan at any time; provided, however, that no such amendment or
revision shall change the option price (except as contemplated by Paragraphs 5)
or alter or impair any option which shall have been previously granted under
this Plan, in a manner adverse to a Participant, without the consent of such
Participant.

         As adopted by the Board of Directors on March 6, 2001.

                               Page 16 of 18 Pages<PAGE>   1
                                                                   EXHIBIT 10.24

                                 March 14, 2001

                                   TERM SHEET

I.       PARTIES

         Borrower:                      Caraco Pharmaceuticals Laboratories
                                        Ltd., organized under the laws of the
                                        state of Michigan (the "Borrower")

         Lender:                        The Bank of Nova Scotia

II.      THE CREDIT FACILITY

         Facility Amount:               USD 10,000,000

         Purpose:                       The proceeds available under the Credit
                                        Facility may be used for general
                                        corporate purposes, including debt
                                        repayment.

         Termination Date:              August 24, 2005

         Minimum Draw Down Amount:      USD 500,000

         Final draw down:               Any amounts not borrowed within 365 days
                                        of March 14, 2001 will no longer be
                                        available for draws. On March 14, 2002
                                        the facility will term out.

         Repayment:                     Four semi-annual installments, of USD
                                        2,500,000 each due on: February 24,
                                        2004; August 24, 2004; February 24,
                                        2005; and August 25, 2005 (Termination
                                        Date).

         Prepayment:                    Not permitted till the completion of 3
                                        years from the Original Closing Date of
                                        August 24, 2000.

III.     COMMON TERMS
         APPLICABLE
         TO THE FACILITY

         Interest Rate:                 LIBOR - 30 bps

         Default Interest Rate:         LIBOR - 200 bps (Occurs if the Borrower
                                        incurs an Event of Default

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         Interest Payment Dates:        Interest periods for LIBOR loans shall
                                        be, at the Borrower's option, one, two,
                                        three or six months. Interest on LIBOR
                                        loans shall be payable on the last
                                        business day of the applicable interest
                                        period for such loans unless such
                                        interest exceeds three months then on
                                        the 90th day following the commencement
                                        of such interest period. Interest on
                                        alternate base rate loans shall be
                                        payable monthly in arrears.

         Annual Work Fee:               Annual administrative fee in the amount
                                        of USD 10,000 due and payable no later
                                        than December 31 of each year.

         Security:                      Unsecured.

         Guarantees:                    A Guarantee in the amount of USD
                                        10,000,000 is to be delivered on behalf
                                        of the Borrower by Sun Pharmaceuticals
                                        Industries Limited to BNS Mumbai.
                                        Additionally, BNS Mumbai shall provide a
                                        guarantee to The Bank of Nova Scotia
                                        Atlanta Office in the amount of USD
                                        10,000,000 prior to any funding that
                                        exceeds USD 5,000,000.

         Representations and
         Warranties:                    Customary for the type of transaction
                                        proposed and others to be reasonably
                                        specified by the Bank of Nova Scotia.

                                        1.   The Borrower is to provide
                                             quarterly financial statements
                                             including an income statement,
                                             balance sheet and cash flow
                                             statement to be received no later
                                             than 45 days after each quarter
                                             end.

                                        2.   The Borrower is to provide audited
                                             financial year-end statements
                                             including an income statement,
                                             balance sheet, cash flow statement,
                                             and statement of retained earnings
                                             to be received no later than 120
                                             days after the financial year end.

                                        3.   The Borrower is to provide a
                                             detailed annual forecast of its
                                             projected performance including an
                                             income statement, balance sheet,
                                             cash flow

                                       2
<PAGE>   3

                                             statement, and summary of
                                             management assumptions to be
                                             received no later than 60 days
                                             after the financial year end.

                                        4.   The Borrower is to provide a
                                             quarterly management discussion and
                                             analysis of operating performance
                                             (including discussion of revenue,
                                             gross margins, and SG&A expenses)
                                             and financial position (including
                                             discussion of financial position
                                             and liquidity) to be received no
                                             later than 45 days after each
                                             quarter end and no later than 120
                                             days after the financial year end.

         Events of Default:             1.   Failure to pay principal or
                                             interest or the annual work fee
                                             when due and payable.

                                        2.   Failure to comply with the
                                             reporting requirements.

         Miscellaneous:                 1.   Indemnification of The Bank of Nova
                                             Scotia from and against any losses,
                                             claims, damages, liabilities or
                                             other expenses which arise out of
                                             or in connection with the Credit
                                             Facility, this Term Sheet or the
                                             Credit Documentation, including
                                             those which may arise from or in
                                             connection with any action, suit or
                                             proceeding (whether or not an
                                             Indemnified Party is a party or is
                                             subject thereto).

                                        2.   The Borrower will pay all of The
                                             Bank of Nova Scotia's fees and
                                             other out-of-pocket expenses
                                             (including the fees and
                                             out-of-pocket expenses of The Bank
                                             of Nova Scotia's legal counsel)
                                             arising out of or in connection
                                             with the Credit Facility, this Term
                                             Sheet or the Credit Documentation,
                                             including any such fees and
                                             expenses which may arise from or in
                                             connection with any action, suit or
                                             proceeding (whether or not an
                                             Indemnified Party is a party or is
                                             subject thereto).

                                        3.   Waiver of jury trial.

                                        4.   New York governing law; consent to
                                             exclusive New York jurisdiction;
                                             appointment of New York process
                                             agent.

                                       3

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